Mboweni urged to support exporters, entrepreneurs in budget review eNCA
to consumers struggling to withstand an economic downturn that has persisted for over a decade now.
"Whilst we welcome the recent announcement of the 3.8 percent increase in the national minimum wage, which should have a positive impact on household income for a large majority of our population earning in that bracket, it remains a concern that the current economic climate continues to put consumers under severe pressure," said Saul Gur, financial manager at online retailer Teljoy."A rand buys far less today than it did five years ago.
David Morobe, executive general manager for impact investment at Business Partners, one of Africa’s leading business loan and equity providers, said the small and medium enterprise sector hoped for more clarity from the budget speech on pledges of support made by President Cyril Ramaphosa in his state of the nation address earlier this month.
“Given the well-known fact that SMEs contribute significantly to job creation, it would bode well if government could offer tax incentives to SMEs who create new jobs, as that would help alleviate the high unemployment levels that our country is facing," Morobe said.
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