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APC 2016 Weekly Update – Part 1

One of the features of our APC programme is that there are weekly updates that highlight key business events. These will be shared every Friday, and to give you a feel for the content, we will be releasing a few of these as blogs until the programme kicks off on 14 March 2016.

KEY BUSINESS NEWS

SA Budget – There is a commitment from government to try and avoid SA receiving junk status. This is important as a rating downgrade automatically results in all companies that have their main operations in SA also being downgraded. This comes through with low increases in social grants (even in an election year!) as well as a desire to cut government spending in particular. Some people were expecting more dramatic steps to be taken to reduce government debt but I think that the experienced Pravin Gordhan is looking to under promise and over deliver. A concern however is the lack of a clear path for economic growth – we need to be growing at faster than 0.9% but the budget doesn’t make it clear how we will improve. Moneyweb hosted a post Budget breakfast with SAICA and further details are available here

INTERESTING BOOK

Elon Musk: Tesla, SpaceX, and the Quest for a Fantastic Future by Ashlee Vance

Elon Musk, after spending this childhood in SA, left for the USA and now finds himself as the CEO of two dynamic companies. Tesla is looking to disrupt the car industry through fashionable electric cars whilst SpaceX has lucrative contracts with NASA to provide rocket launches that deliver satellites into space. He came close to disaster a few times, failed rocket launches, burning through cash at Tesla, and this book highlights all these adventures. He has his critics, and they are given faIr hearing in the book, so that at the end you get a good picture of the man and the companies.

PODCAST

The Economist offers the best weekly publication you can get your hands on as a professional. If you have never done so, please give it a read and be prepared to learn more in a few pages than you have for the past week! They have a free podcast that looks at the week ahead, and this helps me to keep updated on world events. You can get it on iTunes here

The UCT Board Course team continues to get invited to speak to trainees who need to make the big decision of which APC professional programme provider they are going to partner with. If you want further information, click here, and if you want to know more about our outstanding APC results, read about our 94% pass rate here?

Have a great weekend,

Paul

P.S. Did you know that for the first time ever, the Berkshire Hathaway AGM will be livestreamed? Warren Buffett and Charlie Munger on stage for all to see – put it in your diary, Saturday 30 April. Further great news is that at 8am tomorrow, the Annual Letter to Shareholders will be released here