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Archive for the ‘Business’ Category

Dawie Roodt Believes South Africa’s Education Problem is Not Money, but Quality

Tax, Lies and Red TapeEfficient Group director and chief economist Dawie Roodt believes weak economic growth is the underlying cause for the recent university protests.

Roodt, who is the co-author of Tax, Lies and Red Tape, blames South Africa’s high unemployment and poverty for the situation, which he says has been exacerbated by bad leadership leading to ideological confusion.

According to Roodt, the root problem is not money, but quality. Read the article:

Roodt said the taxpayer was overburdened and suggested that the money be rechannelled from the basic and secondary education sector.

“South Africa’s education expenditure is very high compared to other parts of the world. The problem with the basic and secondary education is not money, it is quality. Universities get badly trained students and have to retrain these students,” Roodt said.

However, free tertiary education did not mean that all matriculants would enter universities, he added.

“There are limited spaces, and not all people are university material,” Roodt said.

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Warren Ingram’s Advice for Personal Finance and Top Three Tips for Those Starting Out (Podcast)

Become Your Own Financial Advisor Warren Ingram, executive director at Galileo Capital and author of Become Your Own Financial Advisor: The Real Secrets to Becoming Financially Independent, was recently interviewed by Hanna Barry for Moneyweb.

In the interview, Ingram shares his wisdom about drafting a financial plan and how it helps in tough times and also gives advice for young people who are just starting out. His top three tips are: build an emergency fund, stay out of debt and build up your retirement fund.

Listen the podcast:


Read the transcription:

HANNA BARRY: Good to have you with us here this evening. To get us going, Warren, tell us what is a financial plan, and what does not count as a financial plan?

WARREN INGRAM: Well, to be a financial plan it should be quite a simple document. You can probably put it onto one page. Basically it’s your road map. What you would do is you would set an end goal, for example saying I’d like to be able to stop having to work for a living by the time I’m, let’s say, 60, and at that time, if we are talking about today’s money, I’d want to live on – whatever it is – R30 000 a month. In order to do that I would need, let’s pick a number, R8m of investments and that’s what I’d like to end up with.
So if you know your goal, you would work backwards from your goal to where you are today to say I probably need to save, whatever it is, R5 000 a month and it will probably mostly need to be insured because I’ve got a long time until I’m 60, and I should cut down on debt. If you’ve got children, how are you going to save for your kid’s education? Naturally I don’t think too much of cars, etc.
It’s really just a roadmap and, like any effective map, it helps you make decisions when you do come to difficult times. So when a life event happens to you, you inherit money, you lose your job or get married or something like that, at least you’ve got a plan as to where you’d like to go and then you can make more sensible decisions.
But if you’ve got no plan, it’s a bit like driving from Joburg to Cape Town and if you have no road map and no idea how to get there, you might end up in Namibia.

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Warren Ingram Shares Three Key Principles for Making Investment Work for You (Video)

Become Your Own Financial Advisor Warren Ingram, wealth manager and author of Become Your Own Financial Advisor : The Real Secrets to Becoming Financially Independent, recently shared some tips about asset allocation and diversification with Mashudu Masutha for 702.

In the video, Ingram gives advice about selecting the right investments for your personal needs. He speaks about the possible dangers of stock picking and market timing.

Ingram says three things are important in investment: “Patience is a real virtue when it comes to making long-term money decisions, doing your homework properly and sticking to a correct asset allocation over your lifetime”.

Watch the video:


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South Africa has “A Management Crisis of Enormous Proportions” – Tony Manning (Podcast)

What's Wrong with Management and How to Get It RightTony Manning, author of What’s Wrong with Management and How to Get It Right, chatted to Bruce Whitfield on The Money Show on Radio 702 and Cape Talk recently.

Manning has been a consultant for almost 30 years, and says his new publication is “a management book with a bit of a difference”.

According to Manning, What’s Wrong with Management and How to Get It Right has a global focus, but is especially relevant to South Africa at the moment.

“I look at the crisis that’s facing management and the organisations that its operating in, and why it is caused,” Manning says, “and then present some solutions to the problems that managers sit with. So it covers a wide spectrum.”

Manning adds that the book is “very timely” considering the circumstances in South Africa at the moment, which he calls a “a management crisis of enormous proportions”, both in the government and private sectors.

Listen to the podcast:


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How to Fix Crime in South Africa – Dawie Roodt Suggests 3 Simple Steps After His Close Encounter with Crime

Tax, Lies and Red TapeDawie Roodt, co-author of Tax, Lies and Red Tape, was recently attacked at his family home in Pretoria.

In a physical fight with two armed robbers, which Roodt engaged in to try and protect his wife and children, the economist sustained serious injuries that necessitated him being hospitalised.

Having survived a very dangerous situation, Roodt has thought a lot about crime in the country. Ahmed Areff spoke to him about the incident for a News24 article:

“We are still in the same home. My wife and the two kids are OK. My [adult] daughter is a bit rattled, but she is doing fine.

“I am not going to run away [from the country]. I decided to stop this nightmare. We should do the same with this country. We need to stop this nightmare [of crime] now.”

Roodt is recovering well, and has used the down time to formulate a solution to the problem of crime. MyBroadband reported his plan on “How to fix South Africa in three simple steps”:

1. Begin a process where all state employees – including workers at state owned enterprises – must re-apply for their positions. All positions must be filled purely based on merit, and not on political contacts, favours, or social needs.
2. Immediately establish a world-class skills development system in support of growing a flourishing economy.

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Insight for Turbulent Times: What’s Wrong With Management and How to Get It Right by Tony Manning

What’s Wrong With Management and How to Get It RightZebra Press is proud to present What’s Wrong With Management and How to Get It Right by Tony Manning:

The role and responsibilities of business today are different than they were in the past. More than any other social institution, it is businesses that will determine our future. Yet companies worldwide continue to underperform. In his latest book, top strategy consultant Manning brings managers the insights and advice they need for the coming decades of turbulence and hypercompetition.

Drawing lessons from 100 years of management history, he highlights the failure of the management advice industry to produce new ideas, showing how most management theory is distracting rather than helpful. He then identifies eight critical strategy practices that have stood the test of time, and explains how to apply them.

Based on extensive research and practical experience, this fascinating and practical advice is a must-read for anyone interested in improving business results.

About the author

Tony Manning has been an independent strategy consultant since 1987. His clients include major firms in most industries, and numerous public sector organizations. He was formerly chairman of the Institute of Directors of Southern Africa. His other books include the bestselling Making Sense of Strategy, Discovering the Essence of Leadership, Competing Through Value Management and Tony Manning’s Management Toolkit.

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Dawie Roodt, Recovering After Being Attacked in His Home, Suggests an Economist’s Solution to Crime

Tax, Lies and Red TapeDawie Roodt, well-known economist and co-author of Tax, Lies and Red Tape, was attacked by two robbers at his home in Pretoria last Thursday.

Roodt was at home with his wife, Marina, and their twin daughters. Daniellé, Roodt’s older daughter was returning from university, and was confronted outside the gate by armed men who then forced their way into the property.

Donald Lobelo spoke to Erika Botha, Roodt’s personal assistant, for eNCA to ascertain what happened:

“Last night at around 7:30 two men were waiting at Mr Roodt’s gate before his daughter entered the property and grabbed her. Mr Roodt was with his wife and two other daughters in the house. One was armed with a gun and the other with a panga,” said Botha.

Roodt convinced the intruders that he had money in his car in order to draw the robbers away from his wife and daughters. Outside of the house, he tried to tackle them.

Although Roodt succeeded in scaring the robbers off, he was badly injured in the scuffle, and is currently recovering in hospital.

Jenni Evens reported the economist’s reaction to the traumatic event for News24:

“I was bleeding profusely. Man, I cannot believe that a person can bleed so much.”

He eventually collapsed going up the steps and thinks this was from the blood loss.

Trying to make sense of it, he told Beeld that the only thing that could help the country’s problems was stronger, better, economic growth.

Our thoughts are with Roodt and his family at this time.

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Dawie Roodt: Lessons South Africa Can Learn from Greece on How to Avoid a Debt Trap (Podcast)

Tax, Lies and Red TapeDawie Roodt was recently asked to weigh in on the conversation about the Greek financial crisis on OFM.

Roodt, who is chief economist at Efficient Group and co-author of Tax, Lies and Red Tape, says that it will be very difficult for Greece to survive as a nation. In his view there are two ways for government to get money in the banks – ordinary deposits by citizens or funding from the European Central Bank. Neither solution is without its drawbacks.

Roodt says that debt is a serious economic problem and South Africa needs to treat Greece’s problem as a cautionary tale in order to guard against crippling debt.

Listen to the podcasts:


  • Not loading? Listen on Ofm here and here

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Video: Jason Lee Shares Insider Secrets from Retire Rich Through Property

Retire Rich Through PropertyJason Lee, author of Retire Rich Through Property, was recently featured on KykNET’s Winslyn show to speak about his book and to share some wisdom that he learned from his career in property.

In the video Lee says that it is imperative that people consider their financial future carefully and take control of planning for it. He says: “Property is really the cornerstone of wealth creation.” What makes property a good investment, he says, is that you can mitigate the risk if you do your homework properly.

Watch the video:

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What’s That Got To Do With The Price of Eggs? Dawie Roodt Explains Why Petrol Prices Impact Everything

Tax, Lies and Red TapeDawie Roodt, chief economist at Efficient Group and co-author of Tax, Lies and Red Tape, was recently quoted in an article by Tumisang Ndlovu for The Citizen about the fluctuation of the petrol price.

Roodt points out the price of crude oil and fuel levies as factors that influence the price of petrol in South Africa. He looks at what changes have happened recently, what is likely to happen in the future and what this will mean for ordinary South Africans.

Read the article:

He describes May’s 5c drop as “insignificant”, saying overburdened motorists would have benefited more had the markets been stable. He says a hike in the fuel levy has wiped out any benefits from several fuel price cuts last year.

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