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Intellidex, the South African-born financial and policy advisory firm with a strong commitment to emerging markets, announced a significant transformation today as it rebrands to […]
Read moreIntellidex, the South African-born financial and policy advisory firm with a strong commitment to emerging markets, announced a significant transformation today as it rebrands to […]
Read moreIntellidex directors Stuart Theobald and Peter Attard Montalto sat down with new Intellidex South Africa CEO Roy Havemann to pick his brain about the macroeconomic […]
Read moreSenior Banks Analyst Nolwandle Mthombeni joins Michael Avery on Business Watch once again in a panel discussion on the trends of South Africa’s top banks […]
Read moreIt’s funny how things shift. A small intervention here, a little comment there, a line in an energy crisis speech buried there. Sometimes things seem […]
Read moreIntellidex Head of Capital Markets Peter Attard Montalto joins Bruce Whitfield on The Money Show to discuss the Basic income grant and whether it will […]
Read moreIt is funny how myths stick around and fester. SA is of course full of them and they infect the discourse. It was a sheer […]
Read moreIt’s a standard trope of columnists to give SA exceptionalism a good kicking. So, bear with me … Having spent the past two weeks — […]
Read moreThe economy was growing more than 5% in 2007. Business confidence was near its postdemocratic highs. The Business Day of May 18 2007 quoted the […]
Read moreThere is an amusing trait of many of SA’s elite in that they like to forward me messages whenever anything goes wrong offshore, whether it […]
Read moreThe ESG acronym is on the lips of investors worldwide. I can’t think of any other investment phenomenon that has spread so fast, from pension […]
Read moreWe are drifting with apparent indifference into being greylisted by the global money laundering and terrorist financing watchdog FATF (which stands for the somewhat Hollywoodesque “Financial...
Read moreUpward-heading interest rates aren’t bad news for everyone. SA banks have finally shrugged off the Covid-19 blow to their share prices, significantly outperforming the market […]
Read moreIntellidex Chairman Dr Stuart Theobald joined Bruce Whitfield on 702‘s The Money Show once again this time to discuss the collapse of Ubank. “Ubank is […]
Read moreSeveral pieces of news in the past week jarred against one another. On the one hand, the Mining Indaba was full of optimism for the […]
Read moreAmid Sekunjalo Group’s high-profile efforts to force banks to provide it with accounts, I want to pose an awkward conceptual question: should banks be forced to […]
Read morePeople have remarkably short memories. The use of the Zondo reports, the latest instalment of which is due now (possibly on Eskom specifically), is not […]
Read moreThe rescue of African Bank has been one of the Reserve Bank’s greatest success stories. But it brought a big headache: how to get out […]
Read moreIntellidex’s Chairman Dr Stuart Theobald joins Michael Avery on Business Day TV’s Business Watch to discuss the recently gazetted National Infrastructure Plan 2050. “One has...
Read moreIntellidex has produced a major new publication, in collaboration with Business Day, on the future of the electricity sector in SA. It follows two previous […]
Read moreThe public relations (PR) from the government on infrastructure has become profoundly unserious. The state of the nation address (Sona), in particular, was filled with too […]
Read moreWhen the president talks of eliminating red tape, as he did in the state of the nation address last month, what is it that comes […]
Read moreIntellidex’s Head of Capital Markets Research Peter Attard Montalto has called for policy certainty and a new energy plan that maximised jobs, minimised costs and […]
Read moreWatch Intellidex’s Head of Capital Markets Research Peter Attard Montalto as he reviews the 2022 Budget speech on Newzroom Afrika‘s Budget 2022 news special. “I […]
Read moreWatch Intellidex’s Peter Attard Montalto, and other expert panelists, discuss the state of South Africa’s economy as they preview the 2022 budget. They join Michael […]
Read moreIt is easy to pick out single causes for moments in history in which the course of events was altered. Our brains crave simple narratives […]
Read moreWe spend 110 minutes listening to the state of the nation address. In December of this year, maybe just before the ANC elective conference, we […]
Read moreWatch Now: Peter Attard Montalto provides insight on the basic income grant on SABC’s ‘The Full View‘ ahead of the SONA 2022. “The SONA will […]
Read moreIs a basic income grant sustainable? Peter Attard Montalto weighs in on the topic on Radio 702′s ‘The Money Show‘ with Bruce Whitfield. “Ultimately the […]
Read moreThe formal sector now employs just 9.6-million people. The last time it employed this few was 2010. The formal sector is in trouble. The informal […]
Read moreDr Stuart Theobald joins SAfm’s ‘The Talking Point‘ with Cathy Mohlahlana, as a panellist, to discuss the role of B-BBEE in addressing inequality and creating […]
Read moreIntellidex’s Head of Capital Market Research, Peter Attard Montalto, appeared on CNBC Africa‘s ‘Closing Bell‘ with Tania Habimana to share his views on the Basic […]
Read moreIt’s hard to see evidence-based policy getting a firm foothold in a busy 2022 year of ANC electoral distractions. Perhaps some of the madness will be […]
Read moreIntellidex Chairman Dr Stuart Theobald joins Bruce Whitfield on Radio 702‘s The Money Show once again, this time to provide insight on why South Africa’s […]
Read moreIntellidex Chairman Dr Stuart Theobald joins John Perlman, on Radio 702’s The John Perlman Show, to discuss his Business Day column on infrastructure investments and […]
Read moreMore vigilant procurement oversight is one of the reasons for declining public sector spending
Read moreInequality will continue to rise and it will be coupled with the lack of consequence management of last year’s violence.
Read moreIntellidex’s Dr Stuart Theobald was interviewed by Bruce Whitfield on Radio 702 regarding how the state should insure (or not) its property portfolio and his […]
Read moreIt is hard not to have a sense of apprehension going into 2022. Interest rates in SA are trending up from a 50-year low as we enter an upward cycle. Inflation in big markets is at levels not seen for...
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 morePost 1994, SA rode a wave of global goodwill. We took advantage of it, pulling in billions in foreign investment and establishing a substantial tourism industry. That legacy gifted us membership of...
Read moreOur tourism industry desperately needed a strong December and that has been torn away in an instant. It is the most vulnerable corner of the economy and the distress there will inevitably spill into...
Read moreAs the COP26 climate conference gets under way, much focus will be on the climate finance pledges from high-income countries – which have so far failed in their commitments to mobilise $100bn a year...
Read moreDecarbonising the electricity sector - responsible for most of the country's greenhouse gas emissions - will make a good case for SA to funders at #COP26, says Peter Attard Montalto, head of capital...
Read moreCatch this in-depth personal conversation on Talk Radio 702 between Bruce Whitfield and Intellidex’s Dr Stuart Theobald on the history of Intellidex, Theobald’s background and on handling...
Read morePoliticians in the UK don’t seem to realise the outrage that came with the decision to keep SA on its travel red list. This isn’t […]
Read moreA basic income grant would be only one part of a social wage. There is healthcare, education — you need to think in broader terms, […]
Read morePreviously Standard Bank was not doing such a good job in the mass market but it is now gaining momentum, says Nolwandle Mthombeni, senior banks […]
Read moreSouth Africa’s recovery from a pandemic-induced contraction quickened in Q2 as restrictions to contain the pandemic were eased. GDP expanded 1.2% in the three months through June from a revised...
Read moreI think Viceroy’s credibility has waned significantly, partly because of the work they did on Capitec which was a weak piece of research meant to whack the share price, says Stuart Theobald of...
Read moreWithout a doubt, each time a new competitor comes in, banks have to watch and see what they are doing and how they are able to do something more efficiently than you are, says Intellidex’s senior...
Read moreThe Land Bank’s turnaround plan is positive but depends on the fast-tracking of a pledged R7bn government bailout, says Peter Attard Montalto, director at Intellidex. Creditors have been deeply...
Read moreThe business environment remains risky, volatile, and uncertain. Across all the banks, there has been limited corporate borrowing, says Nolwandle Mthombeni, senior banking analyst with Intellidex....
Read moreChanges to schedule 2 of the Electricity Regulation Act are significant and can spur substantial investment. Intellidex believes that even on a narrow reading, the regulation can still unlock...
Read moreTechnically former finance minister Tito Mboweni may well have resigned but the political machinations and motivations are key. He likely has been forced out by the SACP and Cosatu with President...
Read moreWhile Bank Zero has got off to a late start given delays mainly related to the pandemic, it is joining the market in time to take advantage of a push by the government and private sector to shore up...
Read moreWith bank results season upon us, Intellidex senior banks analyst Nolwandle Mthombeni weighed in on what we are likely to see. She says that dividend […]
Read moreIntellidex research in May found that government’s 20% substitution target was probably not realistic, even though businesses overall were positive about the potential for localisation. Featured...
Read moreLast night President Cyril Ramaphosa reshuffled his cabinet which brought in the head of the ANC's economic transformation committee, Enoch Godongwana, as South Africa's new finance minister....
Read moreIn an Intellidex report for the Banking Association South Africa, Deputy Finance Minister David Masondo says corruption has been used by some to discredit or discourage the need for transforming our...
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 morePlans to send 25,000 soldiers on a peacekeeping mission have come too late, says Intellidex’s Peter Attard Montalto. Featured in Business Tech.
Read moreThere has been a brewing concern about security issues among investors, given the recent looting. South Africa has not had this problem before. Has SA […]
Read moreBusiness Day’s Michael Avery talks to Peter Attard Montalto, head of capital markets research at Intellidex; Paul Miller, director of mining supply sales consultancy AmaranthCX; and Matthew Parks,...
Read moreThe alcohol ban is overall a blunt instrument to ensure that ICU beds are available. There is some evidence supporting that it works, but generally it does not, says Intellidex’s Peter Attard...
Read moreDue to growing pressure from business to increase the threshold to at least 50MW, President Cyril Ramaphosa ended up increasing the threshold of unlicensed power generation to 100MW. This move will...
Read moreThe increased threshold of unlicensed power generation to 100MW, which is ten times more than what mineral resources and energy minister Gwede Mantashe had proposed, is a positive step. However, there...
Read moreListen to Power FM Khaya Sithole in conversation with Nolwandle Mthombeni, senior banks analyst at Intellidex as they talk about succession planning in banking. Mthombeni highlighted that it’s...
Read moreUnemployment is unlikely to return to pre-crisis levels given we don’t see real per capita output returning to pre-crisis levels, says Peter Attard Montalto, head of capital markets research at...
Read moreFollowing our research into SA’s first two social impact bonds (Bonds4Jobs and IBIF), the hope is that future social impact bonds will build in rigorous impact evaluation – rather than simple...
Read moreThe banking sector is facing an intensifying threat from fintech. But banks are playing the long game, and cash is – sadly – still king. While having world class payment platforms is only great if...
Read moreThe FM Ranking the Analyst survey remains the most comprehensive assessment of SA’s top investment researchers. The FM has been publishing the rankings since 1977 and Intellidex has been conducting...
Read moreBusiness Day TV’s Michael Avery talks to a panel about balancing SA's commitments of net carbon zero by 2050 with the economic potential of recent oil and gas finds off the...
Read moreA new research report into localisation by consulting firm Intellidex, which was commissioned jointly by Business Unity SA (Busa) and Business Leadership SA (BLSA), finds that the 20% import...
Read moreA one-size-fits-all localisation policy that requires firms to substitute 20% of imports with locally made goods within five years is unrealistic because the right conditions do not exist in most...
Read moreStandard SBG Securities extends its market dominance in the Ranking the Analyst survey, which celebrates its 45th anniversary this year.
Read moreThe next frontier in social impact bonds is attracting larger volumes of commercial investment. For this to happen, bigger transactions serving more beneficiaries are needed, writes Zoheb Khan, social...
Read moreSocial return is seen as an objective of investors that can be traded off against financial return, Intellidex said in its social impact bonds report. Featured on SPGlobal.com
Read moreThe Communities in Transition report, produced by Intellidex and funded by FirstRand, estimates the projected dividend flows from projects procured, to date, under the REIPPPP will be about...
Read moreThe Sanlam Gauge report, in partnership with Sunday Times Business Times, provides a national and sectoral score on transformation in the SA economy. The research and report...
Read morePresident Ramaphosa can certainly take charge of logistical operations within Luthuli House and even put in place some branch orders but this is not going to suddenly lead to economic growth and...
Read moreThe precautionary motive to save is common whenever people feel uncertain about the future, as is the case during the Covid pandemic with higher levels of household savings recorded, says...
Read moreThe Transformation in Banking report, commissioned by the Banking Association South Africa (Basa), shows that Black women voting rights increased to 12.6% from 11.4% — the highest level since 2016....
Read moreThe Transformation in Banking report released last week was produced by financial markets research and consulting firm Intellidex. It evaluates progress across a wide range of measures from 2016 to...
Read moreThe @Sanlam Gauge report, which measures B-BBEE across all sectors, will be launched on 6 May. The research and editorial was conducted by Intellidex in partnership with Arena Holdings, the Sunday...
Read moreWhile Maluleka and Mminele’s exits garnered a lot of attention, there were transformational gains that happened quietly last year, such as the appointment of a black female CEO at Bidest Bank, says...
Read moreWe recently concluded a FirstRand-funded research project about the community trusts set up under South Africa's renewable energy independent power producer procurement programme. The research...
Read moreJoin us at a workshop where we discuss the recommendations of our research report on the community trusts set up under South Africa’s Renewable Energy […]
Read moreAre social impact bonds the answer to better social welfare services? To answer this question, Business Day TV’s Alishia Seckam spoke to Intellidex social economy research manager Dr Zoheb Khan, who...
Read moreHousehold savings as a percentage of GDP grew from 1.2% in 2019 to 2% in 2020. It is the strongest savings performance since 2004, notes Intellidex’s Nolwandle Mthombeni in her fin24 column.
Read moreoday, global finance and capital markets research house, Intellidex, has launched a pioneering report, Social Impact Bonds (SIBs) in South Africa. This ground-breaking report—funded by the Standard...
Read moreFollowing the launch of the Infrastructure for South Africa report, Business Leadership SA CEO Busi Mavuso and Intellidex executive chair Stuart Theobald discussed with Business Day TV’s Michael...
Read moreIntellidex estimates that the economy was losing about R700m a day from load-shedding pre-crisis and the number is slightly lower since the pandemic began.
Read morePeter Attard Montalto, director at the SA Chamber of Commerce UK and head of capital markets research at Intellidex, spoke to South Africa Reserve Bank […]
Read moreThe Land Bank restructuring has set a poor precedent as an early test case for the Treasury’s approach to managing distressed debt, says Peter Attard Montalto, head of capital markets research...
Read moreEskom ultimately seems to have one option and we are honing in on that: the sovereign taking the risk, says Peter Attard Montalto, the London-based head of […]
Read moreThe Infrastructure Fund is important to crowd in the private sector. But to lift investment, we need a macro solution, says Intellidex chair, Stuart Theobald. Featured in Business Day.
Read moreBusiness Day TV’s Michael Avery and guest experts unpack the bank earnings report released by PwC Africa. Intellidex senior banks analyst Nolwandle Mthombeni commented on the big four banks.
Read moreWhile Operation Vulindlela injects a sense of burrowing persistence on reform, however the unit is unlikely to move the needle much on growth until business responds with increased confidence and...
Read moreIntellidex says a future loan scheme should be tweaked to reduce suretyship requirements, introduce an upfront commitment to targeted loan volumes by banks, and potentially lower interest rates....
Read moreTogether, Mastercard and Visa hold over 75% market share in global purchase transactions and are the two largest card schemes, but SA could be the latest country to challenge the duopoly, says...
Read moreWhile Absa had some footprint in Africa under Barclays, it never set its eyes on being a big pan-African bank before, says Nolwandle Mthombeni, senior banks analysts at Intellidex. Featured on...
Read moreThere were three reports that came out between 2015 and 2017 looking at the future of higher education funding which never fully got implemented, said Peter Attard Montalto, head of capital markets...
Read moreInvestors in SA equities and bonds are thinking a lot about the environmental impact of their investing activities and SA sticks out like a sore thumb, says Intellidex’s Peter Attard Montalto on...
Read moreThere is a lot of interest from international finance and development institutions in doing transition financing with Eskom. But it’s dependent on the sovereign making net zero commitments by 2050,...
Read moreWhen you asses the forecasts and the budget documents, the 1.6% long-term forecast for GDP growth is embedding in a lot of the reforms that Operation Vulindlela is putting into place, says Peter...
Read moreZero-based budgeting has been used elsewhere in the world. It’s often used after deep financial crises, such as in eastern Europe or where the IMF and the World Bank comes in for a capacity building...
Read moreConsidering that TymeBank needed about R1bn to break even just a few months ago, it will be left with only R600m to invest in its new initiatives, notes Nolwandle Mthombeni, senior banks analyst at...
Read moreI expect the big four banks to pay out dividends even though it will be less than their historic dividend policies as they will need to be cautious in the face of the lingering Covid-19 uncertainties,...
Read moreWe were expecting to hear more from Minister Mboweni about Operation Vulindlela – the joint venture between National Treasury and the Presidency meant to drive reforms, says Intellidex’s Peter...
Read moreOperation Vulindlela is doing the right things on behalf of National Treasury and the Presidency. However, if you do not break through the political blockages then you cannot move the dial, says...
Read moreKuben Naidoo, the SARB deputy governor and CEO of the Prudential Authority – has cautioned the banking industry to tread carefully as it juggles the positive effects of higher economic growth...
Read moreThe South African Reserve Bank’s Prudential Authority giving banks the go ahead on dividend payments as they put the finishing touches to their 2020 financial results, but some banks have already...
Read moreBanks are sufficiently capitalised and have shown resilience and therefore are in a better position to pay dividends, and that’s the sense from the market as well, notes Intellidex Nolwandle...
Read moreIn a report published last week, Intellidex says that the Covid-19 Loan Guarantee Scheme (LGS) is now “moribund”. Featured in Moneyweb.
Read moreNational Treasury announced stronger government tax revenue in December 2020 compared to December 2019. This was partly due to an extreme positive revenue shock from mining and corporate tax, says...
Read moreExisting SA airlines should be incentivised to expand, have domestic supply chains, hire and train black pilots and even run important routes with support from government, says Intellidex’s Peter...
Read moreSA banks aren’t disclosing a lot about ESG that we would like to know. The catalyst for change largely comes from external sources, particularly European shareholders and funders who...
Read moreAs digital banking continues to go from strength to strength, big banks inadvertently help the trend along by making branch visits the worst customer experience ever, argues Nolwandle Mthombeni,...
Read moreIntellidex's esteemed capital markets research team shared robust insights on President Cyril Ramaphosa's Sona 2021 speech and had a look at our expectations for the year ahead, specifically from an...
Read moreThe pandemic hasn’t created South Africa’s problems, but it has accelerated them and allowed us to leap several years down the existing path, says Intellidex’s Peter Attard Montalto. Featured in...
Read moreThe idea of a state bank is the ultimate zombie idea and has been around for some time. It has no good reason to it, argues Dr Stuart Theobald, executive chair at Intellidex. Listen to the 702...
Read moreOur banks are systematically important to our economic and financial system. Each time our economy comes under pressure there is going to be less lending and more impairments, says Intellidex’s new...
Read moreWe witnessed a David-Goliath situation with the GameStop phenomenon. Small investors managed to draw in a lot of other investors to buy stocks and challenge big hedge funds, says Intellidex’ senior...
Read moreThe International Monetary Fund has completed its routine engagements with South Africa and has highlighted that the Covid-19 pandemic has exacerbated SA’s growth and fiscal position. News channel...
Read moreStructural reform will happen but not with the required speed, because of constraints such as an ineffective presidency machine, lack of deploying political capital, endless social compacting...
Read moreThe weak status of the fiscus means that tax hikes were bound to happen anyway even if there was no need to fund a vaccine procurement programme, says Peter Attard Montalto, head of capital markets...
Read moreAn offer to investors to swap their Eskom bonds for sovereign paper would be more effective than swapping for equity because Eskom debt is already widely seen as a de facto government obligation,...
Read moreThe sustainability of Eskom’s debt and the risks it poses to state finances are now arousing political interests who are increasingly interested in grasping a solution, says Peter Attard Montalto,...
Read more2020 has shown that the SA government has some capacity to move at speed in a crisis, but its overall economic policymaking is a serious mess that lacks leadership, says Peter Attard Montalto, head of...
Read moreThe public policy position must be looked at with clear eyes. We need to understand what it is we want to achieve with pension systems before we try to engineer the outcomes.
Read moreSA’s deep problems are simply not being dealt with at the requisite speed, says Intellidex’s Peter Attard Montalto. Featured in Financial Mail.
Read moreIs broad-based black economic empowerment (B-BBEE) working to transform SA's economy? A tough question to answer, but a new consolidated report, to be researched by Intellidex, could now point the...
Read moreWhile there has been some recovery, the stress is still there – the unemployment rate is still about 1.85-million higher than in the first quarter, notes Intellidex’s Peter Attard Montalto....
Read moreFollowing the ANC’s August NEC meeting, Intellidex’s Peter Attard Montalto said that it is unlikely that any calls to remove the president would fly until […]
Read moreIntellidex finds that there is no evidence that the rapid public sector wage increases have been accompanied by or driven by increases in productivity. Featured in Business Day.
Read moreBusiness Unity SA says public service workers are paid too much for what they do. Research conducted by Intellidex shows that government workers are paid an average of R400,000 and have seen...
Read morePay rises have been fastest for those on the lowest salary levels and has been progressively slower higher up the hierarchy, Intellidex notes in its public sector wage bill report produced for...
Read moreThe JSE, in partnership with Intellidex, put forward a position paper to policy makers that proposes exchange control reform. Featured on CNBC Africa.
Read moreThe level of expenditure cuts being pushed down to the provinces has never fully crystallised into hard choices until now. Provinces and municipalities will be in shock when they understand the full...
Read moreTake-up of the state-guaranteed loans has been poor, with about R16bn being extended. If you are using R200bn as a starting point, that’s just 12% and it’s fair to say it’s been a failure. Check...
Read moreThe JSE’s move to list instruments across many currencies will bring it into line with exchanges such as Mauritius and Dubai, which list hard-currency instruments, says Intellidex chair, Stuart...
Read moreThe possibility of ratings cuts in the coming six months by most agencies has solidified. This is particularly because National Treasury is unable to give them sufficient detail on the public sector...
Read moreBasing future estimations on a 0% wage increase for public workers may already put the budget outside the realm of reality, says Intellidex analyst Peter Attard Montalto. Featured in Business Tech.
Read moreFunding SAA by curtaining funding needed for schools and health treatment is Treasury’s way of making the ANC’s NEC feel the pain, says Intellidex chairperson Stuart Theobald. Featured in Rob...
Read moreWe need a total change in the mindset around the public sector wage bill. Public sector workers need to either step-up productivity or ship out, argues Intellidex analyst Peter Attard Montalto in an...
Read moreBusiness wants to see National Treasury doing whatever is in its power to boost economic growth that doesn’t require the say-so of other departments, says Intellidex’s Peter Attard Montalto in...
Read moreGreen financing would not reduce the size of Eskom’s debt burden but would rather be a cheaper form of financing, says Peter Attard Montalto, head of capital markets research at Intellidex....
Read moreSouth Africa dropped off the World Bank’s 22 October meeting because discussions on a $2bn loan facility had stalled, says Intellidex analyst Peter Attard Montalto. Featured in Daily Maverick.
Read moreSome of the reasons why Treasury had to push the MTBPS back by a week are the need to accommodate SOE bailout decisions and digest President Cyril Ramaphosa’s speech today, says Peter Attard...
Read moreThere is already R16.4bn in the medium-term budget for the grounded national carrier so it’s probable that SAA will remain a never-ending drain, says Peter Attard Montalto, head of capital markets...
Read moreThere is serious prosecutorial ambition in the VBS case, says Intellidex chair Stuart Theobald in an interview on NewzRoom Afrika.
Read moreTreasury has found itself in a difficult position because of an ANC and Cabinet resolution that SAA must be saved, says Peter Attard Montalto, head of capital markets research at Intellidex in an...
Read moreGovernment finding the money to bail out SAA yet again signals to unions – and possibly the courts – that with enough political will the state can find money, says Peter Attard Montalto....
Read moreWhat is to be done in reducing Eskom’s towering debt? Intellidex’s Stuart Theobald helps us answer this question. Featured in the CBPEP Colloquium 2020 conference report.
Read moreThe debate around a basic income grant has been going on for about 20 years. While it could reduce poverty in SA by as much as 75%, affordability is the issue, says Peter Attard Montalto. Featured in...
Read moreA compact does not bind any party and is not ‘the government recovery policy’ – even if a Nedlac plan is ‘noted’ by cabinet, notes Intellidex’s Peter Attard Montalto. Featured in Business...
Read moreThe politics was decided some time ago as there was a resolution within the ANC’s NEC that SAA needed to be saved, says Intellidex’s capital markets analyst, Peter Attard Montalto, in his...
Read moreThe delay in the release of mobile spectrum is a perfect example of what is holding South Africa’s economy back from catching up, argues Peter Attard Montalto. Featured in Financial Times.
Read moreThe design of the bank guarantee loan scheme was based on the assumption that the lockdown would be extensive, but SA emerged from it faster than expected, says Intellidex’s Stuart Theobald in an...
Read moreThe purpose that the bank loan guarantee loan scheme was initially designed to meet – buttressing businesses during the lockdown – no longer exists, says Intellidex chair Stuart Theobald. Featured...
Read moreThe Investing for Impact report, funded by Ashburton Investments and produced by Intellidex, lays the foundation for much of the debate still to come. Featured in Todays Trustee.
Read moreThe past weekend seems to have been the triumph of over-simplistic reporting, the taking of spin and the need for many to have a moment of Ramaphoria again, says Intellidex analyst Peter Attard...
Read moreMost of the corruption measures announced by the ANC were already part of the party’s resolutions and rules so while the dial is flicking on dealing with corruption, the bar has not yet been met,...
Read moreInvestors are taking a forward-looking view that SA does not have the political capital to turn the boat around fast enough, either for fiscal measures or reforms for higher potential growth, says...
Read moreBanks taking an extra conservative approach to impairments are finding market support, says Intellidex's Stuart Theobald. Featured in Reuters.
Read moreWith SA at the jaws of the hippo, failure to fix our problems means that the IMF will shut the hippo’s jaws for us, says Intellidex’s Peter Attard Montalto. Featured in Daily Maverick.
Read moreSA’s economic response has been haphazard, late and frankly poorly thought-out, says Intellidex’s head of capital markets research, Peter Attard Montalto. Featured in Bloomberg Quint.
Read moreWe expect a very sluggish recovery from the Covid-19 crisis. National Treasury’s stimulus package will run its course, but unemployment will rise and credit conditions tighten. Intellidex is...
Read moreThe majority of high net worth individuals in SA, Nigeria, Kenya and Ghana are concerned about the political environment as they look to create, preserve and spend their wealth, the African Wealth...
Read moreThe African Wealth Report, commissioned by Standard Bank and produced by Intellidex, shows that SA produces more than 70% of its high net-worth individuals through executive careers as opposed to...
Read moreRenegotiating early power purchase agreements with renewable energy producers will have a negligible effect on the overall electricity tariffs that will be more than offset by the higher tariffs to...
Read moreIn June, research house Intellidex analysed why the bank guarantee scheme was not working and concluded that it had come “too late” — seven weeks after lockdown when some businesses had already...
Read moreThe ANC is fundamentally incapable of shifting on corruption – not without a wholesale realignment of its membership, its parliamentary representatives and even those in government, argues Peter...
Read moreTransformation has been a major topic for financial services for some time. It is in the institutional stockbroking market where it has appeared to move more slowly, says Intellidex chairperson,...
Read morePerhaps change will happen in SA if people abandoned their unrealistic hope and started recognising the scale of the crisis to come, says Intellidex’s lead capital markets research analyst, Peter...
Read moreThe recovery of R3.8bn is a drop in the ocean compared to Eskom's debt burden of R450bn. Deeper underlying work needs to be done around Eskom's balance sheet, says Intellidex analyst Peter Attard...
Read moreCovid-19 has changed just about everything — but in the wealth management space, tried and trusted principles still apply, writes Intellidex GM Colin Anthony reporting on the 2020 top private banks...
Read moreIntellidex analyst Peter Attard Montalto has likened SA’s IMF loan to a kind of crossing of the ‘Rubicon’ as commitment to reforms by minister Mboweni and governor Kganyago are about to unleash...
Read moreIt is a pity that President Cyril Ramaphosa did not sign the IMF letter of intent because the promises made on debt, policy reform and budget cuts will have deep and wide political implications,...
Read moreAs the tortuous process of the business rescue practitioners comes to an end, SAA still has no money and labour unions are getting restless, comments Peter Attard Montalto, head of capital markets...
Read moreThe gazetting of the list of infrastructure projects earmarked for potential investment is welcome but seems to lack any detail at all and we still await a policy statement, says Peter Attard...
Read moreDetails about government’s infrastructure plans are still scant so it is difficult to determine how viable the financing plans really are, says Stuart Theobald, chairman of Intellidex. Featured in...
Read moreThere is a risk that Du Toit's successor at Denel will also leave because of similar challenges. The fundamental problem of SOEs is the need to move with decisiveness and speed, which isn’t there,...
Read moreMichael Avery debates the Bank’s monetary policy committee meeting with a panel of experts.
Read moreThe joint letter from finance minister Mboweni and public enterprises minister Gordhan will be enough to move SAA’s business rescue process forward. But it actually provides no commitment to...
Read moreThere is no doubt that National Treasury will be aware of the negative signal that funding SAA will send and the dangerous precedent this sets […]
Read moreThe ANC’s Economic Transformation Committee discussion document, on how SA can rebuild its economy to recover from Covid-19 effects, doesn't have the necessary “oomph” to move the debate...
Read moreIntellidex estimates that if the R500bn fiscal package were fully implemented, then SA’s GDP could contract by 10%. However, without proper implementation of the package, the GDP contraction is...
Read moreIntellidex believes that a government social bond issuance could make a significant contribution to SA’s funding gap and can be important if the Covid-19 crisis goes through multiple waves in the...
Read moreThere is still a strong risk of higher stage metro lockdowns in July and August – next week’s national command council meeting is key to this, says Peter Attard Montalto, head of capital markets...
Read moreIntellidex’s Orin Tambo and Phibion Makuwerere have identified the risk levels of various JSE-listed small- and mid-cap companies in relation to the Covid-19 environment. Featured in Moneyweb.
Read moreWednesday’s supplementary budget was left naked by the inability of cabinet to agree on a phase 3 recovery plan. All eyes for this are now on the medium-term budget in October – which is too late,...
Read moreThe key issue about Mboweni’s supplementary budget is credibility. Treasury is saying we need to go with the scenario that sees debt stabilised in 2023/24, but it didn’t really demonstrate how...
Read moreWhile the public enterprises department talks about a minority stake in SAA for government, it would want to retain a veto right on key issues which would likely mean no strategic equity partner would...
Read moreThe 2020 Financial Mail Ranking the Analysts awards will be hosted online on July 28. The research, conducted by Intellidex, is estimated to cover 90% of the institutional market through confidential...
Read moreQuantitative easing is meant to pump money into the system, whereas what the SA Reserve Bank has done doesn't have that objective. SARB's objective is to shift rates — what it's doing is consistent...
Read moreOne requirement to reform the bank guarantee loan scheme to improve take up is to remove restrictions of what borrowers can do with the money. At the moment they can only use the loan to cover their...
Read moreMoneyweb reports that National Treasury and the SARB are reviewing the R200bn bank loan guarantee scheme. BASA has pointed to several issues in the scheme that Intellidex also covered in its paper on...
Read moreIt is not meant to be business as usual and one reason why the bank guarantee loan scheme does not seem to be working as intended is because banks often require personal guarantees for the loans, as...
Read moreSA’s fiscus can’t carry the cost and corruption risk of a 2,500MW nuclear project and the timing of issuing the RFI document is not right, as the country's energy needs have changed given the...
Read moreThe bank guarantee loan scheme has onerous conditions and risks for entrepreneurs as it requires personal suretyship to back their loans. These will have to be removed to encourage greater uptake,...
Read moreSA’s major problems are inequality and poverty and we need to question whether an inheritance tax is an effective way to deal with these problems – I doubt it is, says Stuart Theobald, financial...
Read moreOther than the IMF, other routes that SA is considering for borrowing are Brics’ New Development Bank, the African Development Bank and the World Bank – and all of these have money they can give...
Read moreIntellidex’s Covid-19 Stress in SA report finds that even companies within the same industry are being affected differently. Those with strong balance sheets will fare better, says Phibion...
Read moreThe talk of guidance, in the ANC's economic transformation committee draft document, is code for direction. We are seeing this in the way energy policy is being centrally controlled and not...
Read moreGrowing the economy, curbing unemployment, eliminating racial biases in resources and reducing SA’s carbon emission footprint are all important and we need a balanced pursuit of these objectives...
Read moreGovernments are realising that they can leverage growing investor appetite for social bonds that “do good” while delivering an acceptable financial return. This led to Intellidex and the Covid-19...
Read moreThe issuance of a social bond could make a significant contribution to the government’s funding gap, raising funds at a low cost while diversifying the government’s investment base to include ESG...
Read moreThe SA Reserve Bank is the fastest, easiest way to deploy nuclear-tipped bazookas as the government’s revenue hole gapes open, says head of capital markets research at Intellidex, Peter Attard...
Read moreIntellidex, backed by the Covid-19 Economists Group, is proposing that the South African government consider a ‘social bond’ to raise up to R100bn to compensate for funding gaps that have arisen...
Read moreConsultancy firms remain at the side of their clients in the African mining industry despite the coronavirus pandemic. Herbert Smith, Rothschild and Intellidex paint a post-Covid future to their...
Read moreThere are different approaches that governments can take in dealing with Covid-19: either trust people and take them into government confidence or be secretive sucurocrats who don’t even share what...
Read moreGovernment is drawing up positive lists of ‘what is allowed to occur’ as opposed to negative lists of ‘what should not occur’. This micromanagement is leading to very slow shifts in what is...
Read moreUnemployment figures and Eskom results were that sparked calls for an IMF bailout – but there are a lot of mitigating steps that government can still take before that, starting with the budget,...
Read moreIntellidex chairperson Stuart Theobald says banks are under extreme pressure and it is not a stretch to expect a return to the levels of provisions we saw during the financial crisis (4% of their...
Read moreThose keen to shower praise on Ramaphosa’s leadership given his response to Covid-19 have now strapped him to the mast if or when lockdown goes badly wrong, says Intelldiex’s Peter Attard...
Read moreIntellidex estimates that 1.7-million South Africans will lose their livelihoods, and the economy will contract by about 10%. Featured in the UK's Times.
Read moreOn Tuesday 28 April 2020, Intellidex head of capital markets research Peter Attard Montalto and chairman Dr Stuart Theobald facilitated an Intellidex Covid-19 briefing.
Read moreOur business researches and analyses the financial system and capital markets and from our US and bases we saw where SA could possibly be due to covid-19 and how the lockdown would translate into...
Read moreIntellidex chair Stuart Theobald, Cannon Asset Managers CEO Adrian Saville and Stanlib chief economist Kevin Lings talk to Business Day TV about economic recovery steps.
Read moreThe stimulus measures that SA has announced to soften the blow of #covid19inSA on the economy are not a tenth of what is required to make an impact, says Peter Attard Montalto, head of capital markets...
Read moreWhile the proposal on the potential sale of a R100bn social impact bond wasn’t solicited by the government, Intellidex made a submission and it is being considered, says Stuart Theobald. Featured in...
Read moreIntellidex’s Understanding Empowerment Endowments report is cited in a Daily Maverick article exploring some of the successes of BEE. Intellidex’s research found that 25 BBBEE trusts formed by...
Read moreIntellidex chairperson Stuart Theobald presented recommendations to cabinet on Wednesday on the design for the credit guarantee scheme, managed by SARB, to support businesses suffering from the...
Read moreGovernment denying SAA further funding means that all options to any form of real continuation of the airline are now blocked. The only option now is liquidation, says Peter Attard Montalto, head of...
Read moreOpening-up the economy with certain health protocols is crucial. What we’ve seen in past crises in SA are permanent rises in unemployment and losses in output, which lead to permanent losses in...
Read moreThe lack of flexibility in the SA economy is a key problem prohibiting the ability of SMMEs to bounce back after the crisis has passed. The longer the lockdown, the less likely it is that weak SMMEs...
Read moreThe lockdown of SA, due to Covid-19, has left many in the informal economy, such as salon owners and run eateries, cash strapped, wrote Mmamoletji […]
Read moreSARB’s response to the coronavirus has been “minimal” and “okay for now” but markets and investors are waiting for more action as the crisis deepens, says Peter Attard Montalto in his...
Read morePrevious shocks such as the 2008 financial crisis and Nenegate showed that the lack of structural reforms leave long-lasting scars on the economy, Intellidex’s Peter Attard Montalto told Business...
Read moreSomething has to fundamentally break first for the politics to shift to structural reform and perhaps the deep scars left by coronavirus on the economy and a permanent step up in unemployment will be...
Read moreMoody’s downgrade of SA is ultimately the result of a lack of progress on turning around growth – that shouldn’t be forgotten as we endure […]
Read moreThe impact of the coronavirus on banks’ balance sheets, as they offer repayment relief, can be managed with the right regulatory frameworks – and banks […]
Read moreThe Reserve Bank buying government bonds for corona relief is a major and necessary crossing of the rubicon, says Intellidex’s Peter Attard Montalto on The […]
Read moreWhile a 100 basis-point interest rate cut is going to provide some support for the economy, that support is really going to be marginal,
Read moreWhile SA may end up with an official coronavirus rate which is relatively lower than peer countries, the pandemic may trigger an Eskom “shock” and […]
Read moreSA hasn’t saved for a rainy day nor has it implemented the right structural reforms to accelerate economic growth – and this does mean a Moody’s downgrade, says Intellidex’s head of capital...
Read moreGlobal airlines are coming under extreme stress due to #coronavirus. This is likely to have a significant impact on #SAA’s existing and even profitable routes, accelerating the need for additional...
Read moreWhile the question of ownership in the banking industry captures headlines, another question to ask is whether those patterns of ownership transform the economy, says Stuart Theobald. Featured in...
Read moreBlacks now represent the majority on banks’ boards, with black members climbing from 43% in 2017 to 51% in 2018, Intellidex’s report on transformation in the banking sector found. Featured in...
Read moreThe increase in banks’ overdraft interest rate reflects their increasing risk aversion, says Intellidex’s head of capital markets research, Peter Attard Montalto. Featured in IOL .
Read moreWhile many expected Tito Mboweni to increase VAT, that was not on the table because of its overall impact, says Intellidex’s Peter Attard Montalto on […]
Read moreThis is a fascinating budget. Finance Minister Tito Mboweni has thrown the kitchen sink at unions and the public sector wage war has started, argues […]
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 moreRamaphosa’s Sona scores a high 8/10 for rhetoric, an ‘okay’ 6.5/10 on policy but falls flat on implementation (2/10 at best), says Intellidex head of capital markets research Peter Attard...
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 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 moreOld Mutual’s share price has dropped by 12% since the dawn of the Peter Moyo saga, however the losses aren’t entirely attributable to this as there are many moving parts to the company’s decline...
Read moreThe lack of panic in government outside of Treasury is one of the issues reinforcing South Africa’s low-growth forecasts, says Peter Attard Montalto, head of capital markets research at Intellidex....
Read moreLack of decisiveness is something SA cannot afford for another year, and minimal reform means that the right decisions may well be made only after SA has been pushed over the cliff edge, says...
Read moreEskom and the public sector wage bill will be key areas of focus right up into the 2020 February budget, which will then be followed by focus on an expected rating cut by Moodys’ at the end of...
Read moreThere is a battle of vested interests at play within government and this is one reason why it has missed key opportunities to turn business […]
Read moreGovernment seems to lack forward momentum on energy policy and hence the risk of load shedding remains high for the next 18 months, says Intellidex’s […]
Read moreReform in SA is taking place too slowly and a key problem is government’s lack of urgency in making the necessary decisions to turn economy […]
Read moreBusiness sentiment seems to be getting worse with no certainty about when an additional 11.6 GW of new capacity, by 2025, spoken about in the IRP will be procured, says Intellidex’s Peter Attard...
Read moreSAA business rescue is effectively a farming out of responsibility and decision-making to an independent party who has to act in the best interest of […]
Read moreThe public enterprises department seems to be stepping over the legal line by trying to impose terms on SAA’s business rescue, says Intellidex’s Peter Attard […]
Read moreSAA’s business rescue is politically palatable and comes with an implied hope that SAA can be sustained, but only a third of businesses under business […]
Read moreOne job of the CEO of an SOE is to fight the highly political battles and there are instances where business will have to back De Ruyter in these conflicts, say head of capital markets research at...
Read moreIntellidex’s view is that policy should be driven by evidence and it should be based on research on what would lead to the objectives we envision as a country, says Intellidex’s chairman Stuart...
Read moreWe will give André de Ruyter the benefit of the doubt but there isn’t time to learn on the job as many urgent decisions are required to turn #Eskom around, says Intellidex’s Attard Montalto....
Read moreDe Ruyter’s appointment as Eskom’s CEO is a surprise and it is unclear if he has the requisite experience considering that Nampak is a different kettle of fish and which has not been clealrly...
Read moreSAA strike and inability to raise R2bn in working capital means that it will likely default on payments which will trigger demands from creditors that […]
Read moreSouth Africa’s chances of avoiding a downgrade after the February budget are 50:50 and a cut could result in R73bn of outflows, says Peter Attard Montalto, Intellidex’s London-based head of...
Read moreIntellidex’s head of capital markets research says that insufficient progress in fiscal consolidation – on the wage bill in particular – means that SA stands a significant chance of being...
Read moreA real concern of the MTBPS is that Treasury initially attempted significant expenditure cuts but ran into a brick wall in the form of a […]
Read moreThe MTBPS clearly shows that there is strong political resistance against leaping to the R150bn of expenditure cuts needed to start to reach a primary balance and stabilise debt to GDP ratios, says...
Read moreThe market is marginally disappointed that Eskom’s transmission system operator is not fully spun out and that there were no details on Eskom's debt, but this should not have been a surprise, says...
Read moreSA is beyond the point at which government can generate revenue through additional taxes, argues Peter Attard Montalto, head of capital markets research at Intellidex. Featured in Business Report.
Read moreThe Integrated Resource Plan repeats the past mistake of overestimating the level of demand for electricity, says head of capital markets research at Intellidex Peter Attard Montalto. Featured in...
Read moreIt’s clear that business and markets have bought into spin narratives about improvements in Eskom’s operations, says head of capital markets research at Intelldiex Peter Attard Montalto. Featured...
Read moreNational Treasury has been too risk-averse over the years while it also lacked understanding – until recently – of the depth of the unsustainability of Eskom and SAA, says Intellidex’s Peter...
Read moreIntellidex’s Peter Attard Montalto says markets have overestimated the turnaround in Eskom’s operations. The system continues to run with effectively no safety margin . Featured in Herald live.
Read moreDespite low demand, Eskom is now loadshedding, which highlights the fact that Eskom has only stabilised operation at a very weak place and not improved, says head of capital markets research at...
Read moreThe future of the banking industry is going to involve fewer branches, more digital engagement with clients and lower costs as the industry grows more competitive, says Intellidex chairperson Stuart...
Read moreEffecting major policy shifts for Eskom will be both a challenging and time-consuming endeavour for government, says Peter Attard Montalto, head of capital markets research […]
Read moreCustomers put their money where they think it will be safe – hence Intellidex, in its submission to Treasury on economic policy, encourages implementation of […]
Read moreAs combatting state capture continues to be a core theme for President Cyril Ramaphosa’s presidency, Invest Africa is delighted to welcome Mcebisi Jonas, now Trade Envoy to the President of South...
Read moreEven though government now realises how poorly positioned the economy is, it remains hamstrung in trying to turn things around, says Intellidex’s Peter Attard Montalto. Featured in Business Tech.
Read moreThe mandate of the PIC Commission is not just to make sense of what’s been going on but also to craft a vision of how the PIC should be run in future, says Intellidex’s chairperson Stuart...
Read moreTreasury’s proposal to sell Eskom’s coal power stations is more of a political baseball bat to end the torpor in government because there would be no buyers, says Intellidex’s Peter Attard...
Read moreNegative sentiment is quite rational because of the lack of change in SA, says Peter Attard Montalto, Intellidex’s head of capital markets research. Listen to the full interview with Bruce Whitfield...
Read moreThe PIC can commit to social and corporate governance and social impact investing by bailing out state entities – but only if the sacrifice of financial returns can be justified in terms of the...
Read moreThe PIC can use its influence to improve governance and sustainability at South African companies, which would have spillover public benefits for all, Intellidex argues in its report to the PIC...
Read moreTreasury’s economic document is going to cause political fallout but its disruptive nature can foster robust, evidence-based policy debates, says Intellidex’s Peter Attard Montalto. Featured in...
Read moreThe language of Treasury’s economic paper is frank, hard hitting and exudes a can-do attitude by simply asking how SA achieve faster growth, says Peter Attard Montalto, head of capital markets...
Read moreMboweni’s plan to fix the ailing economy is a very calm, thorough, evidence-based document from National Treasury, says Peter Attard Montalto, head of capital markets research at Intellidex. Listen...
Read moreIntellidex’s Peter Attard Montalto says Treasury could achieve a 2.1% reduction on government spending. Featured in Business Day.
Read moreThe new debt relief bill could force losses on the banking sector of about R25bn, says Peter Attard Montalto, head of capital markets research at Intellidex. Featured in Business Tech.
Read moreIntellidex’s Peter Attard Montalto says that low confidence among investors is clearly because of government’s lack of decision making. Clarity is needed on the way forward. Featured in Daily...
Read moreNational Health Insurance is unworkable in the economic and fiscal context even though it is sorely needed – it can do harm than good at a macro level, says Peter Attard Montalto, head of capital...
Read moreIntellidex’s chairman, Stuart Theobald, weighs in on the recent report into the Public Protector’s personal bank account. Listen to the full interview with Bruce Whitfield.
Read moreSA’s economic woes haven’t reached a point where an IMF bailout is required, says Peter Attard Montalto, head of capital markets research at Intellidex. Listen to the full interview with Bruce...
Read moreGovernment recognises there is a crisis but prioritises other issues while sustainable solutions that address fundamental problems are absent, says Intelleidex’s Peter Attard Montalto. Featured in...
Read morePeter Attard Montalto, head of capital markets research at Intellidex, expects SA’s currency to weaken further given that there isn’t much government can do to respond to both global and domestic...
Read moreAs more top executives quit SEOs, Intellidex’s Peter Attard Montalto says private sector talent is being put off by the micro-management, political balancing and interference from government....
Read morePeter Attard Montalto, head of capital markets research at Intellidex, joins CNBC Africa for a discussion on whether the land reform report is a realistic draft for change. Watch the full interview...
Read moreMoody’s remains reluctant to downgrade SA – which is out of kilter with other ratings agencies – and is unlikely to do so in the next year despite Eskom’s challenges, says Intellidex’s Peter...
Read moreIntellidex head of capital markets research, Peter Attard Montalto, gives an analysis of the losses incurred at Eskom. Watch the analysis on SABC News here.
Read moreIntellidex head of capital markets research, Peter Attard Montalto, speaks to Al Jazeera about how embattled parastatals pose a threat to South Africa’s economy. Watch […]
Read moreThe risk of load shedding is still real as operational issues at Eskom were not fixed but were merely put to bed during winter. Those issues will return as summer draws closer, says Intellidex’s...
Read moreA joint CEO and chairman for Eskom isn’t a good idea as governance challenges and required oversights are too great – especially if challenges drag on. This is not a sustainable solution even in...
Read moreThere’s been massive build-up of financial stress at state-owned enterprises. Some are really right on the edge and require significant amounts of taxpayer support, says Intellidex’s Peter Attard...
Read moreEskom needs to appoint a restructuring officer and advisors, formulate a plan, get the plan approved and then execute the plan. This is likely to take a year before any unbundling can occur, says...
Read moreClassic Business with Michael Avery speaks to Intellidex analyst Peter Attard Montalto on the Special Appropriation Bill in relation to Eskom.
Read moreThe lack of detail on what the Eskom cash injection will be used for or how it will be funded is disappointing, says Intellidex head of capital markets Peter Attard Montalto. In Bloomberg today
Read moreBusiness Day TV caught up with Intellidex analyst Peter Attard Montalto to discuss the South African Reserve Bank’s decision on rate cuts.
Read moreThe interest rate cut will not meaningfully boost economic growth, says Peter Attard Montalto, head of capital markets research at Intellidex. Featured in Business Day today.
Read moreMarkets have somewhat glossed over the resignation of André Pillay as Eskom group treasurer given the market’s ‘risk-on’ mood, says Intellidex head of capital markets Peter Attard Montalto in...
Read moreShould Eskom give preferential treatment to the PIC over other bondholders, it would create huge legal headaches for government, warns Peter Attard Montalto, Intellidex’s head of capital markets....
Read moreThe intense lobbying over SA’s energy mix is creating “a misleading impression of where the centre of gravity is”, says Peter Attard Montalto, Intellidex’s head of capital markets. Featured in...
Read moreThere are now more ‘good’ reasons to implement a prime lending rate cut – such as the fall in global yields, Eskom’s tariff hikes and lower oil and petrol prices, says Intellidex’s Peter...
Read moreGovernment should split Eskom into generation, transmission and distribution entities, as promised, as a deleveraged Eskom with a monopoly mindset is dangerous, says Intellidex's Peter Attard...
Read moreThe EFF’s decision not to vote with the ANC or DA in metros is unlikely to see the immediate collapse of council administrations up until budgets are due, says Intellidex analyst Peter Attard...
Read moreDaniel Mminele’s exit as deputy governor of the Reserve Bank is a great loss in terms of institutional knowledge and leadership, says Intellidex head of capital markets research Peter Attard...
Read moreThe drop in the purchasing manager’s index to 45.4 in May from 47.2 in April is consistent with a 5% decline in manufacturing output, says Intellidex analyst Peter Attard Montalto. Featured in...
Read moreIntellidex introduced a new category in its 2019 Top Private Banks and Wealth Managers survey, with Sonia du Plessis from Brenthurst Wealth being named the Top Financial Advisor of the Year. Read more...
Read moreThe big winners in the Intellidex Top Private Banks & Wealth Managers awards were announced last night. Congratulations to all of the winners! Check out the story in Business Day.
Read moreCreditors and suppliers will be disappointed that Ramaphosa did not mention SAA and the SABC in the Sona as both embattled SOEs also require billions of rand in bailouts, says Intellidex head of...
Read moreEskom’s bailout is disappointing as free money was offered with no additional pain politically or for the vested interests, says Intellidex analyst Peter Attard Montalto. Featured in My Broadband.
Read moreThere was a surprising lack of detail on Eskom which will disappoint both the energy industry and markets, says Peter Attard Montalto, head of capital markets research at Intellidex. Featured in...
Read moreMarket sentiment is not likely to improve much after Sona until actual implementation begins, says Peter Attard Montalto, head of capital markets research at Intellidex. Featured in Business Day
Read moreAfrican Bank should capitalise on its access to clients from its former lending book, says Stuart Theobald, chairman of financial consultancy Intellidex. Featured in Reuters.
Read moreIntellidex analyst Peter Attard Montalto believes various short- and long-term bailout plans will have gone to last week's Cabinet lekgotla for processing and inclusion within the Sona speech....
Read moreThe ANC’s political infighting has caused an extremely rapid loss of confidence in the economy which policymakers underestimate, says Peter Attard Montalto, Intellidex’s head of capital markets....
Read moreInvestors look for some simple bedrocks of countries to invest in – like low, stable inflation emanating from a credible independent central bank, says intellidex head of capital markets Peter...
Read moreThe markets seemed to think issues like the SA Reserve Bank and land would be parked – which is not going to be the case, says Intellidex head of capital markets Peter Attard Montalto. Featured in...
Read moreIntellidex’s Peter Attard Montalto questions whether those around the president have the ability to deploy political capital to undertake policy formation and then implementation. Featured in...
Read moreThere is no investment strike – investment is clearly happening. What is happening though is that the proportion of investment as a share of GDP […]
Read moreMarkets know Mboweni and Godongwana's views on nationalising the South African reserve Bank, and so their interventions, whilst necessary, are not sufficient says Intellidex’s Peter Attard Montalto....
Read moreThere is another crowd of people within the ANC, who want access to the Reserve Bank’s control of the financial authority says, Intellidex head of capital markets Peter Attard Montalto. Featured in...
Read more“There is an alliance between the South African Communist Party and others in the ANC who want access to the central bank,” says Intellidex analyst Peter Attard Montalto on The Money Show with...
Read more“The resignation letter of SAA’s CEO appears to strongly suggest that the airline is being forced into administration, deliberately or indirectly by government”, says Intellidex head of capital...
Read moreTito Mboweni’s return to the finance ministry and the retention of Pravin Gordhan as public enterprises minister are important, given the need to provide stability in talks around the reform of...
Read moreAmid the good and bad in the new cabinet, there are a few notable things to watch, especially among the newcomers, says Intellidex analyst Peter Attard Montalto. In Business Tech
Read moreIntellidex head of capital markets research Peter Attard Montalto says the new cabinet has shrunk only marginally – signalling that a further shrinking reshuffle might occur in a year. Featured in...
Read moreThe new carbon tax is "a bad idea" because government has delayed reforming SA’s energy sector, blocking the shift away from carbon intensity that the tax seeks to encourage, says Intellidex analyst...
Read moreIntellidex analyst Peter Attard Montalto struggles to see real economic reformers, policy wonks and implementers entering cabinet. Featured in Business Day
Read moreGet to know Intellidex’s head of capital markets research Peter Attard Montalto through an entertaining question and answer article in this week’s Financial Mail
Read more“I can’t think of anyone within Eskom who has the political savvy and technical knowledge required of the CEO, or who would want the position,” says Intellidex analyst Peter Attard Montalto....
Read moreIntellidex’s Attard Montalto is expecting a series of positive "big bang" announcements and events over the coming month that will stoke fresh "Ramaphoria" and broadly keep SA assets on the front...
Read morePeter Attard Montalto, head of capital markets research at Intellidex, says that absence of Gigaba, and Mokonyane from Ramaphosa’s mooted new cabinet is largely market positive. Featured in Business...
Read more“There is a huge sense of urgency around Eskom and the need for a second iteration bailout…” says Intellidex analyst Peter Attard Montalto. In today’s Daily Maverick
Read moreWhile the government allocated Eskom a R69bn cash injection over the next three years in the February budget, another bailout will probably take place in the second half of this year, says Intellidex...
Read moreIntellidex analyst Peter Attard Montalto says that in the short term the land reform process will face many challenges and entrench uncertainty, keeping any possible positives strictly in the...
Read more“There are a lot of things coming from Ramaphosa, but the implementation is crucial”, says Intellidex head of capital markets Peter Attard Montalto on the Xolani Gwala show.
Read moreHead of capital markets research at Intellidex Peter Attard Montalto joins CNBC Africa’s Karabo Letlhatlha to discuss South Africa’s increased unemployment rate
Read moreAmong the pre-election polls, the Intellidex poll emerged as being the most accurate. The poll was a representation on the thoughts of economists, investors and other players in the market. Featured...
Read moreProjections at this stage by Intellidex analyst Peter Attard Montalto have the ANC nationally at 57.5%, the DA at 20.44% and the EFF at 9.27%. Read more in today’s Daily Maverick.
Read moreIntellidex’s head of capital markets, Peter Attard Montalto, joined Business Day TV from London to share his views on the national election.
Read moreIntellidex analyst Peter Attard Montalto cautioned that, even with an “okay” win for the ANC, the link between the results and the post-election reform agenda and political environment is weak....
Read more“The ANC will be elected with a record low of 27% of the eligible population backing them, compared with 47% in1999,” says Intellidex analyst Peter […]
Read moreDaily Maverick and Intellidex analyst Peter Attard Montalto are joining up to track results as they unfold
Read moreThe market sees a 75.7% probability of Cyril Ramaphosa remaining in office immediately after the election, despite factional in-fighting within the ANC. Read more on […]
Read moreMost market participants expect Tito Mboweni to remain as finance minister after the elections, says Intellidex’s Peter Attard Montalto. Read the full article in Moneyweb
Read moreIntellidex analyst Peter Attard Montalto forecasts a range of 48% to 52% for the ANC; 29% to 33% for the DA; and 13% to 16% for the EFF. Featured in Daily Maverick
Read more“There is still a large R250bn hole in Eskom’s balance sheet requiring some further bailout in order to ensure a going concern,” says Intellidex analyst Peter Attard-Montalto. In today’s Daily...
Read moreIntellidex’s latest market poll shows that there is only about one-third chance of reform to boost economic growth after the election, says Intellidex head of capital markets Peter Attard Montalto....
Read moreIntellidex analyst Peter Attard Montalto says the ANC may hang on to Gauteng or rely on a coalition with the EFF. Read more on Independent Online
Read moreInvestment decision makers believe there is only a one-third chance of growth-boosting reform after the elections. More on the Intellidex poll in Engineering News
Read moreIntellidex head of capital markets Peter Attard Montalto speaks to Bruce Whitfield on the findings of the Intellidex’s election poll of the investment community.
Read moreA new poll of investment decision makers by research group Intellidex lays out what the market’s expectations are for this week’s election. Featured in Business Tech
Read moreMore productive panic is needed on Eskom, says Intellidex analyst Peter Attard Montalto. Featured in his Business Day column
Read moreIntellidex financial analyst Phibion Makuwerere speaks to Power FM’s Ron Derby on Pick n Pay’s best performance in a decade. Tune in here
Read moreIntellidex analyst Peter Attard Montalto raises concerns that information around the Eskom emergency financial allocation is “buried in Parliament…and not communicated openly with Eskom...
Read moreMaria Ramos’ track record makes her stand out to fill the position as Eskom Chief Reorganisation Officer, says Intellidex chairman Stuart Theobald. Listen to more on The Money Show.
Read more“SA does have a consumer debt problem. But what we need are interventions that drive lenders into providing healthy forms of debt,” says Intellidex chairman Stuart Theobald. Read more in his...
Read moreIf the market spent half as much time fretting about education or health policy settings as it does for monetary policy settings, SA could well be in quite a different place, says Intellidex head of...
Read moreMoody’s “seems to set a high bar for a future downgrade given that it already bakes in weaker growth forecasts and bearish fiscal estimates”, says Intellidex analyst Peter Attard Montalto....
Read morePeter Attard Montalto, head of capital markets research at Intellidex, tells Fin24 that SA probably lost R1bn a day as a result of load shedding. Read more here
Read moreIntellidex’s Montalto says the dagger is still hanging over the economy with no new sense of how close to the edge things are after Moody’s failed to release its report on SA. Read more in in...
Read moreIntellidex chairman Stuart Theobald interrogates the rotten state of corporate SA. Featured in his Business Day column out today
Read moreIntellidex’s Peter Attard Montalto says the failure to release its report on SA has denied SA its ‘cathartic moment’ of actually knowing Moody’s opinion. More in Times Live
Read morePeter Attard Montalto, head of capital markets research at Intellidex, says the failure to act by Moody’s will likely be marginally bad for sentiment in South Africa. Featured in Mail & Guardian
Read morePeter Attard Montalto, head of capital markets research at Intellidex, analyses the latest interest rate decision on Business Day TV. Watch the full interview here.
Read morePeter Bruce quotes “arguably the best analyst of the SA political economy” Peter Attard Montalto in lamenting the failure of hope at Eskom. More in today’s Business Day
Read moreIntellidex analyst Peter Attard Montalto speaks to Michael Avery on Moody’s call on SA’s sovereign rating and the Monetary Policy Committee’s interest rate decision. Listen […]
Read morePeter Attard Montalto, head of capital markets research at Intellidex, discusses the effects of the Moody’s ratings on SA. Watch the full interview on CNBC Africa
Read moreIntellidex analyst Peter Attard Montalto provides insights to Moneyweb’s Nompu Siziba on what the country can expect from the Moody’s announcement on Friday. Listen to the full interview here
Read moreEskom load shedding has not triggered greater urgency on national energy policy, says Intellidex analyst Peter Attard Montalto. Featured in today’s Daily Maverick
Read moreAccording to Intellidex’s Peter Attard Montalto, Moody’s has remained unjustifiably optimistic about South Africa for too long and appears to be taking whatever the government says and promises at...
Read moreMoody’s could reduce its forecast for economic growth and raise its expectations for the fiscal deficit implications, says Peter Attard Montalto, head of capital markets research at Intellidex. More...
Read morePeter Attard Montalto, head of capital Markets Research at Intellidex, says "The coming week should see only low stages of load-shedding and possibly only at the end of the week." In Business Day
Read moreAccording to Intellidex analyst Peter Attard Montalto government’s response (or lack thereof) to the Eskom crisis is telling. Featured in Business Tech
Read morentellidex analyst Peter Attard Montalto says while Moody’s has given South Africa the “extreme benefit of the doubt” in the past, an outlook change to negative is very likely – based on the...
Read moreBank results show customers are not particularly distressed with credit loss ratios surprisingly benign given the tough economy, says Intellidex chairman Stuart Theobald in his Business Day column.
Read moreRamaphosa’s strategy is to turn a blind eye to state capture when it comes to the election list, says Intellidex analyst Peter Attard Montalto. Featured […]
Read moreRead some of the findings of the 2019 Transformation in Banking report, which was commissioned by the Banking Association of South Africa (Basa) and compiled by Intellidex. Featured in Money Web.
Read moreThe 2019 Transformation in Banking Report produced by Intellidex is covered in today’s Business Report.
Read moreIntellidex was commissioned by the Banking Association South Africa to research the level of transformation in the banking sector. Read the full transformation report here.
Read moreVisas are important precisely because they are so simple to fix yet the lack of action is incredibly frustrating. Read more from Intellidex analyst Peter Attard Montalto in his Business Day column.
Read morePeter Attard Montalto, head of capital markets research at Intellidex, says Eskom tariffs hike will add upside risks in the first year to consumer inflation. Featured in Business Report.
Read moreAccording to Intellidex analyst, Peter Attard Montalto, it is the threat of interference with SARB which sent the rand crashing to its weakest point since the start of the year. Read more in today’s...
Read moreBruce Whitfield explores the idea of nationalising the Reserve Bank with Intellidex chairman Dr Stuart Theobald on The Money Show.
Read moreNational Credit Amendment Bill could force losses of about R25bn for local banks if implemented, says Intellidex analyst Peter Attard Montalto. More in Business Tech.
Read moreIntellidex chairman Stuart Theobald discusses the challenges facing SA’s new banks in his Business Day column today.
Read moreGovernment’s renewed enthusiasm for green power needs to translate swiftly into action by finalising energy policy and seeking bids to build new plants, says Intellidex analyst Peter Attard...
Read moreBudget post mortem by Intellidex head of capital markets Peter Attard Montalto, in today’s Business Day column.
Read moreIntellidex analyst Peter Attard Montalto gives global perspective on SA's SOEs. Featured in SABC, watch the clip here .
Read moreWe see Moody’s on course to cut the outlook in March but this is far from a certainty. More in Business Tech today
Read moreIntellidex analyst Peter Attard Montalto said: “National Treasury managed to squeeze through public sector wage cuts and other trimmings … partly to fund the Eskom equity injections.” In Daily...
Read moreIntellidex strategist Peter Attard Montalto says the budget office is understaffed and there is a thin layer of top staff who are holding the institution together. Read more in today’s Financial...
Read moreMarkets will be significantly disappointed if only the form or policy position on an Eskom plan is announced in the Budget, says Peter Attard Montalto, head of capital markets research at Intellidex....
Read moreIntellidex analyst Peter Attard Montalto notes: “There are no details of a plan for Eskom to be able to judge as credible and there won’t be any before or at the Budget.” More in today’s Daily...
Read moreAt a "guesstimate", SA’s gross domestic product has likely lost around R1bn a load-shedding stage each day, says Intellidex analyst Peter Attard Montalto. In Fin 24
Read moreThe market is over-estimating the room for optimism about Tito Mboweni's upcoming Budget, reckons analyst Peter Attard Montalto, head of capital markets research at Intellidex. In today’s Fin 24.
Read moreIntellidex analyst Peter Attard Montalto says that the ‘hole’ in Eskom’s books is between R250bn and R300bn (without counting the unbundling costs). Read the full article in Business Tech.
Read moreIntellidex analyst Peter Attard Montalto says plan to separate Eskom into three entities but keep them under one holding company means the incentive issues and monopoly mindset will remain. Featured...
Read moreSouth Africa faces five scenarios post-election, ranging from extremely good to extremely bad, depending on the results, says Intellidex analyst Peter Attard Montalto in Business […]
Read moreIntellidex analyst Peter Attard Montalto says moving South Africa to 50th place from 82nd in the World Bank’s annual Doing Business Report “is a huge ask”. Featured in Daily Maverick.
Read moreA mindset change is needed in Eskom and it’s not clear if three independent companies achieves this, argues Intellidex analyst Peter Attard Montalto in Business Tech.
Read moreRamaphosa's announcements on Eskom were "strong" but lacked specifics, says Peter Attard Montalto, head of capital markets research at Intellidex. Read more in Fin24 today.
Read more“The risk is very little will change with an Eskom split within the Eskom Holdings umbrella”, says Peter Attard Montalto, the London-based head of capital markets research at Intellidex. In...
Read moreHigh on hope, long on promises and in full election mode, is how Intellidex head of capital markets research Peter Attard Montalto describes Ramaphosa’s speech in in today’s Business
Read more“It’s not at all clear that any of this activity happened in South Africa,” says Intellidex chairman Stuart Theobald on the Standard Chartered Bank New York rand manipulation case. More on Bruce...
Read more“It’s clearly election season when a sensible unsigned discussion memo can generate so much anti-colonialist political backlash,” says Intellidex analyst Peter Attard Montalto in Daily Maverick....
Read moreIntellidex's Peter Attard Montalto believes a hard Brexit might work in SA’s favour. Read more in today’s Financial Mail.
Read moreThe debt-write off plan could cost banks billions says Intellidex’s Attard Montalto in Business Tech .
Read more“The ANC’s general policy mindset is not changing,” says Intellidex analyst Peter Attard Montalto in Financial Mail today.
Read moreRate hike still to come this year says Intellidex's Attard Montalto in Business Tech.
Read moreIntellidex's Attard Montalto sceptical over 'Ramaphoria round two' in Business Day today.
Read moreIntellidex head of capital markets research Peter Attard Montalto discusses on The Money Show with Bruce Whitfield, how the ANC manifesto is driven by different factional groupings in the party and...
Read morePeter Attard Montalto head of capital markets research at Intellidex is quoted in “Rand reacts badly to ANC manifesto” in Business Day.
Read morePeter Attard Montalto head of capital markets research at Intellidex in Reuters' “ANC says central bank should broaden economic focus”.
Read moreIntellidex head of capital markets research Peter Attard Montalto quoted in “ANC still eyeing pension assets” by Moneyweb.
Read moreIntellidex head of capital markets research Peter Attard Montalto interrogates working papers on policy reforms which have been saying the same thing for decades in Business Day.
Read morePeter Attard Montalto head of capital markets research at Intellidex quoted in Eyewitness Newsabout his views on the clean-up of SOEs.
Read moreIntellidex head of capital markets research Peter Attard Montalto spoke to Fin24 about “An analyst's post-mortem on 2018”.
Read moreIntellidex head of capital markets research Peter Attard Montalto discusses “SA's economic year that was” on SABC News.
Read moreHead of capital research at Intellidex, Peter Attard Montalto, spoke to Business Day TV about the 2019 outlook for emerging markets .
Read moreIntellidex head of capital markets research Peter Attard Montalto comments on SABC News' "2018- a tough economic year"
Read morePeter Attard Montalto head of Capital Markets at Intellidex gets name checked for his views on ratings risk during 702 interview with the President.
Read moreIntellidex head of capital markets research Peter Attard Montalto quoted in Financial Mail on the South African Reserve Bank possible interest rate increase.
Read moreIntellidex head of capital markets research Peter Attard Montalto quoted in Daily Maverick after releasing a major report on Land Reform.
Read moreIntellidex head of capital markets research Peter Attard Montalto quoted in Daily Maverick on whether there is a politically feasible plan at this stage regarding Eskom.
Read moreIntellidex Chairman Stuart Theobald featured in Business Day about business playing a role to keep Eskom alive.
Read moreIntellidex head of capital markets research Peter Attard Montalto quoted in Bloomberg regarding the 2019 budget presentation in February.
Read morePeter Attard Montalto head of capital markets research at Intellidex is quoted by CNBC Africa on Eskom's debt.
Read moreIntellidex head of capital markets research Peter Attard Montalto quoted in Business Day about the GDP after parliament voted in favour of amending the constitution.
Read moreCheck out the week's episode of #ETFinvestor on BusinessDayTV hosted by Nerina Visser and Simon Brown with the week's guest MayoTwala, Editor of Intellidex's savetaxfree.co.za .
Read moreIntellidex head of capital markets Peter Attard Montalto quoted in Fin24 as SARB rate hike draws investor criticism
Read moreIntellidex head of capital markets Peter Attard Montalto quoted in Business Day in the SA economy catching up.
Read morePeter Attard Montalto Intellidex head of capital markets quoted in Financial Mail about How SA’s politicians broke land reform
Read moreIntellidex head of capital markets Peter Attard Montalto quoted in Fin24 ahead of Thursday's Reserve Bank rate decision.
Read moreIntellidex head of capital markets Peter Attard Montalto discusses IMF warning to SA on eNCA.
Read moreThe Southern African Venture Capital and Private Equity Association (SAVCA) announced the winners of the inaugural SAVCA Industry Awards at a gala dinner at Montecasino on 8 November 2018.
Read moreThe 2018 Wealth Manager of the Year is Gradidge-Mahura Investments. The boutique firm, that celebrates its 10th birthday this year, dominates this year’s survey, also […]
Read moreIntellidex has prepared a submission to the Standing Committee on Finance regarding transformation of the financial services sector. In it, Intellidex argues that: • Financial […]
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