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TMA-SA CEO Insights September 2021

By Bruce Berry, CEO of  TMA-SA

Thankfully the country has now moved to Lockdown Level 2 and with spring in the air, there seems to be a general lightening of moods as we now head toward the end of the year. 

The Monetary Committee of the Reserve Bank has decided to keep the repo rate unchanged at 3,5% and the economy recorded its fourth consecutive quarter of growth, expanding by 1,2% in the second quarter of 2021. This was higher than the 1,0% forecast. However, members need to be mindful that this growth rate is lower than pre-Covid lockdown levels and the full impact of the disruption and protest action in KwaZulu-Natal and Gauteng in July will probably be reflected in quarter 3 figures which are due to be released in December.

The relaxation of lockdown restrictions means TMA-SA will now begin preparations for an “in-person” event which we will host at the beginning of 2022.  The remaining events scheduled for this year will continue to be virtual but we are looking forward to meeting up again in person in the new year.  TMA Australia (link) and TMA Switzerland (link) are hosting their annual conferences over the next few weeks.  Members who are interested in participating can obtain further details via the attached links.

I am pleased to report that TMA-SA is expanding and efforts are underway to establish a regional chapter in Namibia, the details of which I will announce in the next Newsletter. Furthermore, members of TMA-SA have also been assisting the newly established Nigerian and Turkish Chapters as they start to find their feet. There have also been discussions with individuals who are interested in establishing a Chapter in East Africa.  These are positive developments and will assist members who are involved in cross-border transactions in these jurisdictions. There are now 52 TMA chapters worldwide and the full list of ‘international chapters’ (i.e. those not in the US) is shown in the table below:

Country

Members

Australia

735

Austria

192

Brazil

491

Croatia (in formation)

35

Czech Republic

47

Finland

63

Germany

300

Hong Kong

40

Italy

105

Japan

176*

Mexico (in formation)

35

Romania

42

Singapore

30

Southern Africa

193

Spain

67

Sweden

44

Turkey

40

United Kingdom

260

*CTPs

October is going to be a busy month as in addition to the usual, campaigning will begin in earnest for the local government elections which are scheduled for 01 November and the end of year school examinations will also start.  Good luck to all those involved and I hope everything goes smoothly.

Until next month, keep safe and I look forward to being able to see you all again soon,

Bruce Berry

 

 

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