I chatted with Thokozani Dlamini, CEO of FNB Merchant Services, and got great insight into credit card spending over the Easter weekend. We have focused on leisure and there has been a significant increase in spending patterns compared to the same period in 2022. Partially a base effect as we were just out of lockdown last year.
Speaking to Seamus Rocca, CEO of Xapo Private Bank, I asked about blockchain and how its transparency could help financial markets. We also discussed central bank digital coins that seemed to have faded and he blamed traditional banks.
I spoke to Lucio Trentini, Seifsa’s CEO, about the sector. A meeting with the President was planned, the first in the organization’s history. But the reality is that this is a hugely important sector for both GDP and employment, struggling with load shedding and slow growth.
I get asked about guaranteed investment products all the time and asked Francis Marais of Morningstar Investment Management SA to give us some insight. He pointed out some concerns and alternative ways to manage risk in a portfolio. But these products can certainly help, just know what you are buying.
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