Alumni connect - February 2019

February edition

Welcome to the February edition of Alumni connect.

In this first edition of 2019, we discuss the highlights of the much anticipated Budget 2019 speech; congratulate PwC’s new Governance and Governing Board chairs; catch up with our youngest partner from the class of 2018; explore how we help our clients do business in Africa; and showcase alumni reconnecting with old friends and peers. 

In this edition

 

Man in red shirt on tablet

Latest news

SA Budget speech 2019

Budget speech 2019

Minister of Finance, Tito Mboweni, said in his maiden speech that Budget 2019 is built on six fundamental prescripts:

  1. Achieving a higher rate of economic growth
  2. Increasing tax collection
  3. Reasonable, affordable expenditure
  4. Stabilising and reducing debt
  5. Reconfiguring state-owned enterprises
  6. Managing the public sector wage bill

Budget highlights

  • Increases in alcohol and tobacco excise duties will raise revenue of R1 billion.
  • White flour, cake flour and sanitary pads will be zero-rated for VAT purposes from 1 April 2019.
  • Over R30 billion will be allocated to build new schools and maintain the schooling infrastructure.
  • No changes to personal income tax brackets in 2019/20, allowing for bracket creep – this will move some South Africans into higher brackets after they receive their inflation adjusted increases.
  • The eligible income bands for the employment tax incentive will increase from 1 March.
  • The fuel levy increases by 29c/litre.
  • The carbon tax will be implemented on 1 June 2019.
  • Government is setting aside R23 billion a year to financially support Eskom during its reconfiguration.

Click here to view the PwC Budget website and commentary and Tax card.

Networking events

We hosted two successful networking events over the last few months:

Champagne wishes and pink sky dreams

The 2018 Stellenbosch alumni event took place at the Landscape Wine Farm on 22 November 2018. Guests were treated to breath-taking views and an even more majestic sunset as old and new friends reconnected over a dinner of great food and wine. Hein Döman (Partner in Charge, Stellenbosch office) spoke about the firm and its future plans.

Alumni at an event together
PwC alumni at Durban office event

Making time to mingle

We also hosted our KZN-based alumni on 13 September 2018 at the PwC Umhlanga office. Southern Africa leader Dion Shango addressed attendees, providing a strong vision for the firm looking into the future. 

Alumni seen at other PwC events

Mary Vilakazi

Budget Breakfast 2019

The Johannesburg Budget event, themed Path of Hope, was attended by many of our alumni. It was good to see PwC alumna, Mary Vilakazi, Firstrand COO on the panel and sharing insights into how the banking sector will be affected by Budget 2019.

 

FS NED event - Connected. Relevant. Real.

The Financial Services (FS) team launched the first FS-specific non-executive director (NED) event in Johannesburg recently. The aim of these sessions is to focus on topics of relevance to NED role within financial services and build a community that comes together regularly. Our first session covered cyber risk and resilience, with a focus on the types of questions that NEDs should be asking their boards, hot cyber risks and focus areas. The theme for our next session in May is conduct and culture developments in the FS industry. Contact Nicki Burley (nicolette.burley@pwc.com) if you’d like to attend any of the events.

 

FS NED event

PwC Africa desk – Helping our clients do business in Africa

The African continent has been hailed as the next destination for investment, with massive untapped potential for growth and development. According to the World Bank, the continent is poised to see average growth of 3.6% in 2019/20, thanks to agricultural sector development, infrastructure investment, and private sector credit growth. Indeed, even as significant fluctuations in commodity prices affect the biggest economies on the continent, the consensus is that there is potential waiting to be tapped by savvy investors.

This has been the backdrop for the creation of the PwC Africa desk in Johannesburg, South Africa. Manned by specialists from all over the continent, the Africa Desk provides a one-stop shop for investors looking to invest on the continent, expand pre-existing Africa activities and develop a pan-African footprint, or achieve efficiencies in managing an existing African footprint.

Based on this we’re hosting regular The Doing business in Africa seminars in Johannesburg and Cape Town, featuring two African countries at a time.

For more information on our Doing business series and what the PwC Africa Desk has to offer, visit:

Ayuk Takor

Manager, Joahnnesburg, PwC South Africa

+27 (0) 11 287 0741

Email

Our people

Proud moments

Congratulations to Brendan and Busi on their appointments to the PwC Africa Governance Board and SA Governing Board respectively.

Brandan Deegan

Brendan Deegan - Chair, Africa Governance Board

Busi Mathe

Busi Mathe - Chair, SA Governing Board

How long I’ve worked for PwC?

10 years 

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My best memory/career highlight:

Working on the African Bank curatorship team (learnt a lot about crisis management and managing a distressed business), as well as a short-term secondment to the US.

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What drives/motivates me?

I enjoy learning new things, and using my learnings to benefit our clients. I haven’t come across another organisation that offers you the breath of work that PwC does.

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One word that describe me:

Diligent

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How I juggle family life and the demands of a career?

My wife started her career with PwC so she understands that the job sometimes means long hours and pressure. It’s just me and her at the moment so we still have a great deal of flexibility to do the things we want to outside of work.

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About me and my family:

I come from a family of five. I grew up in Durban but have been in Johannesburg since university. I have been married to my wife for three years; she’s also an accountant. You can say she is the debit to my credit. 

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My interests:

I enjoy learning about the world and what makes people tick. That and golf.

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My favourite book/quote:

Everything on this earth has a purpose outside itself.

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The best advice I ever received:

Everything on this earth has a purpose outside itself.

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The two people (dead or alive) I’d invite to dinner:

Jesus Christ and Richard Dawkins. It would make for a very interesting conversation.

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Bet you didn’t know this about me:

I have a crippling fear of snakes (Don’t judge - I grew up close to a place nicknamed Mamba valley!)

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Careers

We're recruiting
Click here to see our vacancies.
Find out what our colleagues in Canada had to say.

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The impact of GDPR on how we communicate with our alumni.

GDPR (General Data Protection Regulation) is currently high on the agendas of many corporates, and you’ve probably been asked to opt in or out of many email communications from us and others. In brief, GDPR makes organisations, like PwC, accountable for the protection of personal data and we need your permission to engage electronically with you (you can revoke this permission at any time). If you’re receiving this newsletter, it means that you have opted to do so - thank you! 

If you know of any alumni who are no longer receiving this newsletter, it’s probably because they’ve inadvertently elected to opt out - please ask them to contact us to rectify this or share this link with them.

 

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Contact us

Claire Heynike

Alumni Lead, PwC South Africa

Tel: +27 (0) 11 287 0566

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