BRAVE NEW WORLD
No-one will deny that the Covid-19 pandemic and its accompanying state interventions – including, here in South Africa, one of the most draconian lockdowns in the world – are having devastating economic consequences. But not everyone has been affected to the same degree – at least not yet. For example, corporate salaried workers who have been able to work from home may have hardly felt any adverse financial effects. In fact, they may be rather enjoying not having to contend with rush-hour traffic and may even be saving money on monthly expenses such as fuel.
However, for small businesses in the tourism and restaurant industries the situation is dire. These establishments employ millions across the country – one small family-run restaurant may alone provide a living for 15 people and their families. It’s these folk who are bearing the full brunt of the pandemic.
Alan Duggan’s cover story brings you tales of courage and innovation, but also of heartbreak. One can take inspiration from them, but one can also not help feeling desperately sorry for these people whose lives have, literally overnight, been turned upside down.
Elsewhere, in another information-packed issue, we cover UIF registration for domestic workers, how the insurance industry has adapted under the pandemic and whether changes will be permanent, estate planning and drawing up a will in these difficult times, and how smoothed bonus funds performed under crisis conditions.
For some relief from the seemingly never-ending bad news around Covid-19, we look at how women are growing their wealth and increasingly need the services of financial planners, what company metrics fund managers pay attention to when choosing where to invest, and the benefits for consumers of the newly implemented Protection of Personal Information Act.
Enjoy the read.
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