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The upcoming 2014/15 Budget Day speech - to be presented before Parliament on 26 February 2014 - is essentially about four specific areas for South African investors, namely, how much the government expects in tax revenue, how much it plans to spend, how it will divide its spending between competing priority areas and how much it will need to borrow should there be a deficit.
Increased offshore investment is expected by South Africans following rising GDP growth in the US during 2013, reduced fears of a Eurozone break-up and emerging equity market underperformance in US dollar terms.
Independent financial services group, Novare Holdings, has announced the establishment of a newly formed subsidiary, Novare Investment Solutions, which will facilitate expansion of the range of investment products the group offers to clients.
Attention is being drawn to the pension fund and insurance sectors as a way of mobilising funds for long-term investment into infrastructure.
The strongest deterrent against FSP compliance missteps is or should be: