Intellidex is a leading research and consulting firm that specialises in capital markets and financial services in Africa.
SA has a habit of slowing down into major political events. Time seems to almost stand still. We saw it this past year with the municipal elections.
Read moreSA has a habit of slowing down into major political events. Time seems to almost stand still. We saw it this past year with the municipal elections.
Read moreNo-one says that complexity is not hard to deal with, but investors are tired of the roundabout.
Read moreLooking back at the cabinet reshuffle, all we see is a range of sub-par ministers who’ve been shuffled from one portfolio to another due to a lack of better options.
Read moreIn discussing how foreign investors and markets are reacting to the unrest in South Africa, Peter Attard Montalto tells CNBC Africa that the unrest and arson do not necessarily mean that foreign...
Read moreBefore the distraction of the 2022 ANC elective conference, there is a key window from now to the end of the year for these conversations to happen.
Read moreStandoff between ANC and EFF is due to people feeling they cannot accrue tangible economic benefits.
Read moreIs the government able to manage a process that demands more and more changes as it unfolds?
Read moreThat is, if the deal — which was hammered out behind closed doors — can fly at all.
Read moreSouth Africa's recovery needs to be fast and vast enough to support Big safety nets.
Read moreA choice on which infrastructure rollout system works for the state has never really been made.
Read moreFollowing National Treasury publishing the draft amendments to Regulation 28 of the Pension Funds Act for public comment, Intellidex submitted its response welcoming elements of proposed reforms...
Read moreThe list of distractions from what matters seems never-ending.
Read moreWe do not see Ace Magashule standing aside voluntarily. We expect foresee him see out the full 30 days and then be suspended to get the maximum victim status, said says Intellidex’s Peter...
Read moreOur threadbare institutions need a redesign, not just patching.
Read moreStudent protests are a live example of the politics of austerity in action — less than a month after the budget.
Read moreIt has slightly lowered the dangers around debt and balanced the risks with a buffer against future shocks, but we didn’t get answers to fundamental […]
Read moreThe South African government is increasingly giving up on solving the problems and is resorting to promising grand new institutions.
Read moreThe problem with the idea of a state ba is that upon investigation you quickly realise that the problems that need to be solved can’t be solved that way.
Read moreAmending Electricity Regulation Act could unlock rooftop self-generation investments and jobs.
Read moreSA needs new ideas for fiscal stimulus and financial support through the second wave and beyond.
Read moreA lot of misdirected conclusions have been drawn from the court judgment on the public sector wage bill
Read moreThe lack of evidence-based thinking has also been prevalent in the economic response to the pandemic. Ultimately, evidence-based policy must be a culture more than a set of rules.
Read moreOne must target what is most important in a resource-constrained world and hope the rest will follow
Read moreThe Treasury is making the party leadership feel the pain of directing money to SAA from libraries and schools.
Read moreWith the MTBPS scheduled for 28 October, Finance Minister Tito Mboweni has a tough task on his hands.
Read moreScant insight into how government’s decision-making works is a problem that infects business and investor confidence.
Read moreCyril Ramaphosa’s legacy will be judged by his ability to make difficult and unpopular decisions.
Read moreThis issue of talk vs action sounds almost comical, but is crucial for recovery.
Read moreThere are important moral and practical concerns that should guide the discussion on whether to disrupt multigenerational transfers of wealth.
Read moreThe tripartite alliance must do things differently if it is to triumph in a post-Covid reality.
Read moreThe fight over the future of economic policy is already brewing
Read moreThe government’s dangerously paternalistic streak is showing its worst side during the lockdown and current policymaking.
Read moreMy life is divided between the UK and SA. So I’ve seen the Covid-19 responses in both countries, and the comparisons are revealing.
Read moreAfter the health crisis forces in the government will be pulling in completely different directions.
Read moreThe president’s response to the coronavirus has been solid while the Reserve Bank upgraded its response to bazooka-level; but the economy still faces severe contraction, says Peter Attard Montalto,...
Read moreThere is an urgent need to slow the spread of the coronavirus (Covid-19) in SA, irrespective of location. Urban areas likely to be hardest hit. Townships and informal settlements accommodate the...
Read moreUnfortunately, politics is what share prices now depend on.
Read moreMisconceptions overestimate and underestimate the finance minister’s powers
Read moreThe 2020 state of the nation address (Sona) on February 13 scores highly for PR/rhetoric (an 8/10), actual policy is “ok” (a 6.5/10, being generous), but signs of any shifts towards actual...
Read moreThe youth employment initiative announced at last week’s Sona will take 1% or R20bn of the 2021/21 national budget and it’s unclear where that money will come from apart from belt-tightening, says...
Read moreIt is now or never for implementation, especially with the budget coming up next week and the ability to gazette change at any time. Some hard choices over how cadres are deployed in government may...
Read moreThe GDPF, IDC and DBSA have finite balance sheets and have to manage their risk. Intellidex’s Stuart Theobald says drawing them in to bail out Eskom is dangerous. Catch the full interview with...
Read moreIntellidex chairperson Stuart Theobald weighs in on Cosatu’s proposal to rescue Eskom. Listen to the full conversation on The Eusebius McKaiser Show on 702.
Read moreCosatu’s Eskom proposal will spark contagion that spreads the financial problems of SOEs into government development financial institutions such as the GDPF, IDC and DBSA, […]
Read morePolicy should focus on setting the rules for the private sector and letting it bring skills to the table, rather than trying to deliver all and sundry itself. He is running a ship that cannot attract...
Read moreIntellidex’s head of capital markets research, Peter Attard Montalto, attended the UK-Africa Investment Summit in London on 20 January. He conveys his thoughts on some […]
Read moreHow many times can you say the same thing and still have people come along for the ride? When a process is mired in a lack of transparency can you say the opposite of what is actually happening?
Read moreThe oil and natural gas industry provides an obvious opportunity to add positive economic momentum while it is desperately needed. The bill is now in a consultation process, providing an opportunity...
Read moreThe public sector wage war and Eskom’s debilitating debt are key focuses in the coming year, yet the largest hurdles to be overcome are the […]
Read moreWe look forward to working vigorously with you next year to do that. The team at Intellidex wishes you a fantastic Christmas and New Year.
Read moreThe strands of ideology that shape SA’s political economy are deep. Sometimes we are not even conscious of them. One of the most important is Marx’s theory of history, a vision of the world that...
Read moreThis column was first published in Business Day Some deep questions are raised by the ANC’s national executive committee statement last week and rotate on […]
Read moreBy: Dr Stuart Theobald, CFA Prescribed assets are increasingly being looked to as a solution for both urgent and longer-term development funding needs. This is […]
Read moreI think there is a subset of ministers who actually do understand that the country is fundamentally in the wrong place. The problem is the system itself hasn’t flipped, given the lack of political...
Read moreIn an environment of a trust deficit and zero benefit of the doubt, for the government to play its role will require leadership and an ability to manage the state — getting the building block of PR...
Read moreTwo things are needed to break through the resistance: leadership and a just transition. A just transition that accommodates legitimate interests who stand to suffer short-term pain, is one way to...
Read moreMuch rhetoric but lack of dial-moving action are leading to frustration among business. The foremost example of this has been the reaction of the telecoms industry to spectrum after the Q&A last...
Read moreThe debate over NHI has been characterised by a lack of positive alternatives that would meet constitutional muster. It is time we as a country are honest about both our means and our obligations.
Read moreA kind of mass hysteria is breaking out, some of it justified. Sentiment is getting weaker because nothing is being done
Read morePublic protector’s account is being investigated for exchange control violations and suspicious transaction from Hong Kong.
Read moreGains from improved collection by new management at the SA Revenue Service will be offset by emigration and lower growth than forecast. There are no gains to be had from higher taxes — they will...
Read moreSA’s companies are being targeted in a deal-making spree. Last week, PepsiCo launched a bid for Pioneer Foods, Clover got Competition Commission approval to be bought out by Israel’s Central...
Read moreIf you listened to the budget vote speeches last week — without the benefit of context — of the departments of trade, industry & competition and mineral resources & energy, what do you guess the...
Read moreCan you suffer death by social compacting? It seems the answer may be yes.
Read moreIt is only in looking back that we can see the essence of an era. We can recognise and categorise the music of the eighties, nineties and even noughties, but it is hard to know the essential sounds of...
Read moreThere are some things you know you must get right. Where there should be an instinctive, reflexive desire but also institutional memory. Holding newborn babies is one of them. Friends are popping them...
Read moreThere is a lot of having-cake-and-eating-it going on in the SA commentariat and market commentary. It is quite nauseating. A positive story is always required even when the facts are tenuous.
Read moreWhen exactly do you start pencilling “intention” into a GDP forecast and into asset prices?
Read moreGovernment continually reinvents old policy and Peter Attard Montalto, Intellidex head of capital markets, says in last week’s Business Day column that it is now time to choose from the menu of...
Read moreTime to talk policy again in post-Zuma political era says Intellidex chairman Stuart Theobald in Business Day.
Read moreThe trend in lending patterns in the banking industry is damaging the transformation of the SA economy, particularly when it comes to home ownership. Since 2008, when banks were hit by a wave of bad...
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Intellidex is a leading research and consulting firm that specialises in capital markets and financial services in Africa.