Webcast # 3: Economic Impact
In the 3rd webcast of our series we focus on the economic impact of COVID-19 and the country’s downgrade to junk status. We will consider the impact locally on our economy, employment, various industries, consumer demand and forecasts for the foreseeable future. We will then consider the impact globally and the ramifications for South Africa. In the second session our investment expert will focus on the impact on the individual, specifically impact on pension funds, mortgages, property market share portfolios. He will then give advice on what people should do to better manage their personal finances as well as opportunities available when the economy starts to grow.
Session 1 (08h00 – 08h45)
Junk Status + COVID-19 economic impact on South Africa including a focus on the global economy
Annabel Bishop, Chief Economist: Investec Bank Limited South Africa
Session 2 (08h45 – 09h30)
Junk Status + COVID-19 economic impact on my portfolio – where should I be invested?
Chris Holdsworth, Chief Investment Strategist, Investec Wealth & Investment
Crises inadvertently create opportunity. Challenges and crises have the potential to ignite our greatest ideas, creative thoughts and leadership decisions as it forces us outside the norm. It is said that the best things lie just beyond our comfort zones.
It is against a backdrop of a global crisis as well as the recent downgrade by Moody’s, confirming the country’s sub-investment status and the accompanying dire economic prospects facing the country, as well as the impact of COVID-19 and the lockdown, it is easy to become despondent and fearful.
We’d like to encourage you during this time of uncertainty to take care of yourself and your family. But not only that, consider the impact of your actions on those around you. Fighting this pandemic and finding our new normal in the midst of uncertainty is not only necessary, but also our national duty.
Therefore, SAICA wants to encourage you, our members, in these unsettling and unprecedented times. To help address the challenges faced by many, SAICA will be hosting a complimentary virtual leadership series that will focus on various elements affecting individuals, businesses and the profession as a whole.
The benefits of attending the virtual sessions
- Participants will have a better understanding of where we currently are and the challenges we are facing;
- We will provide practical tools and knowledge on how to lead and thrive in these difficult times;
- We will showcase the qualities that good leaders must demonstrate to enable their organisations to emerge stronger from any crisis
- We will consider various scenarios of what a post-coronavirus world might look like as well opportunities for growth.