Perspective

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    Sizwe Nxedlana Chief Economist at First National Bank. Prior to that he was a Senior Economist in FNB’s Wealth segment where he was involved in macroeconomic and investment research and is a member of the investment and asset allocation committees. Before joining FNB Wealth he was an economist at FNB Commercial. He began his career at the Bureau for Economic Research in Stellenbosch followed by a stint at Kagiso Trust Investments. He completed a Bachelor of Commerce degree majoring in Philosophy, Politics and Economics from the University of Cape Town and a Master of Commerce degree in economics from the University of KwaZulu Natal.

    The South African economy has a long history of the tertiary sector (consumption side) being a resilient pillar of growth, but this long, unbroken run was shattered with the release of the GDP figures for the first quarter of the year. The numbers showed that the sector contracted by a full 2% quarter on quarter. […]

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    Sizwe Nxedlana Chief Economist at First National Bank. Prior to that he was a Senior Economist in FNB’s Wealth segment where he was involved in macroeconomic and investment research and is a member of the investment and asset allocation committees. Before joining FNB Wealth he was an economist at FNB Commercial. He began his career at the Bureau for Economic Research in Stellenbosch followed by a stint at Kagiso Trust Investments. He completed a Bachelor of Commerce degree majoring in Philosophy, Politics and Economics from the University of Cape Town and a Master of Commerce degree in economics from the University of KwaZulu Natal.

    The past few years have been marked by significant political upheaval. In Greece, Alexis Tsipras’s Syriza party returned to power in response to mounting anger over imposed austerity, and to manage a looming Grexit (Greek exit from the EU). The Grexit story is by no means over. Last year, there was a coup attempt in […]

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    Sizwe Nxedlana Chief Economist at First National Bank. Prior to that he was a Senior Economist in FNB’s Wealth segment where he was involved in macroeconomic and investment research and is a member of the investment and asset allocation committees. Before joining FNB Wealth he was an economist at FNB Commercial. He began his career at the Bureau for Economic Research in Stellenbosch followed by a stint at Kagiso Trust Investments. He completed a Bachelor of Commerce degree majoring in Philosophy, Politics and Economics from the University of Cape Town and a Master of Commerce degree in economics from the University of KwaZulu Natal.

    POLITICAL and macroeconomic uncertainty have taken centre stage following President Jacob Zuma’s cabinet reshuffle and the firing of the minister of finance and his deputy on March 30. The subsequent downgrades by S&P Global Ratings and Fitch have further increased concerns about South Africa’s economic outlook. Although the downgrades came sooner than expected, policy uncertainty […]

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    Sizwe Nxedlana Chief Economist at First National Bank. Prior to that he was a Senior Economist in FNB’s Wealth segment where he was involved in macroeconomic and investment research and is a member of the investment and asset allocation committees. Before joining FNB Wealth he was an economist at FNB Commercial. He began his career at the Bureau for Economic Research in Stellenbosch followed by a stint at Kagiso Trust Investments. He completed a Bachelor of Commerce degree majoring in Philosophy, Politics and Economics from the University of Cape Town and a Master of Commerce degree in economics from the University of KwaZulu Natal.

    THE prospect of a recession is rearing its head. The last time South Africa entered a recession (the only time as a democratic state) was in the first quarter of 2009, as the global financial crisis wreaked havoc on developed and emerging markets. A recession is defined as two consecutive quarters of negative economic growth. […]

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    Sizwe Nxedlana Chief Economist at First National Bank. Prior to that he was a Senior Economist in FNB’s Wealth segment where he was involved in macroeconomic and investment research and is a member of the investment and asset allocation committees. Before joining FNB Wealth he was an economist at FNB Commercial. He began his career at the Bureau for Economic Research in Stellenbosch followed by a stint at Kagiso Trust Investments. He completed a Bachelor of Commerce degree majoring in Philosophy, Politics and Economics from the University of Cape Town and a Master of Commerce degree in economics from the University of KwaZulu Natal.

    It was only a matter of time. Apart, perhaps, from the swiftness with which S&P acted, a sovereign downgrade to South Africa’s foreign and local currency credit ratings had broadly been anticipated. Fitch and Moody’s are likely to follow suit, the latter after a one to three month review period. To be fair to the […]

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