“As was expected, the Monetary Policy Committee (MPC) of the South African Reserve Bank (SARB) continued with its interest-raising cycle with an increase of 25 basis points (bsp), instead of the higher 50 bsp option that had also been widely canvassed.”
According to Prof Raymond Parsons, economist from the North-West University (NWU) Business School, this is the right decision in the present stressful economic circumstances.
It cannot be disputed that 2022 was an eventful year for news outlets. The invasion of Ukraine; a global rise in inflation; the death of prominent figures, not only in the entertainment industry, but also major international personalities such as Queen Elizabeth II; and the intensified effects of climate change, among other things, dominated the headlines as the world’s population crossed the milestone of 8 billion people.
It is hard to recall a time when there were as many economic and political cross-currents as there are for South Africa as it enters 2023. This is according to Prof Raymond Parsons, economist at the Business School of the North-West University (NWU).
A new chief director has joined the Business School of the North-West University (NWU). Dr Joseph Sekhampu, an executive in private higher education, will take the reins on 17 January 2023.
Dr Sekhampu boasts managerial expertise that includes being executive head of commerce and management (from August 2022), chief operating officer (2019 to 2022) and dean of the School of Commerce (2014 to 2019) at Milpark Education, a South African private education institution in business education.
The Business School at the North-West University (NWU) is delighted to announce that it has been awarded a five-year accreditation by the Association of African Business Schools (AABS). This is the maximum term of accreditation offered by the AABS. What makes this achievement exceptional, is the fact that the NWU Business School is one of only three business schools in South Africa to have received this prestigious accolade.
“In line with market expectations, the Monetary Policy Committee (MPC) in a majority vote of three to two raised the repo rate by another 75 basis points, with a minority view favouring a 50 basis-point increase.”
Prof Raymond Parsons, economist from the Business School of the North-West University (NWU), says the statement and decision by the MPC on 24 November conveyed a further strong message about how the South African Reserve Bank (SARB) intends dealing with inflation in South Africa.
The North-West University (NWU) attended the recent launch of a new initiative to promote digital health innovation in Africa. This initiative aligns with the strategies of the WHO and national governments across the world in promoting universal access to quality, affordable healthcare to all people.
It is a pass. That is the conclusion of a panel of experts that was hosted by the North-West University (NWU) Business School on whether the 2022 Medium-Term Budget Policy Statement (MTBPS) should receive a “fail” or a “pass” rating.
On Wednesday, 26 October, Finance Minister Enoch Godongwana delivered the MTBPS, with generally favourable reactions.
“Against the background of difficult global and domestic economic circumstances Finance Minister Enoch Godongwana generally delivered a realistic and credible fiscal message in the Medium-Term Budget Policy Statement (MTBPS) today.”
In commenting on the MTBPS, Prof Raymond Parsons, economist from the Business School of the North-West University (NWU), says South Africa’s public finances have now been put on a much more sustainable basis.
He points out that both expenditure and revenue are good-news stories that help to build economic resilience.
The statement by the Monetary Policy Committee (MPC) of the South African Reserve Bank (SARB) on 22 September conveyed an understandably hawkish message about the inflation outlook in the economy in the midst of several global and domestic uncertainties.
Prof Raymond Parsons, economist from the Business School of the North-West University (NWU), says the majority view was for a 75 basis-point rise in order to progressively re-anchor inflationary expectations. Significantly, two members of the five-person MPC wanted a 100 basis-point hike.