Budget Day 2016

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Minister of Finance, Pravin Gordhan, will present his Budget Speech on Wednesday, 24 February 2016. This budget may be one of the most challenging faced by any Financial Minister, with exception 1974.

There is a critical need for fiscal discipline in South Africa to maintain the fiscal consolidation over the next three fiscal years. The social pressures are mounting on National Treasury in view of the weak tax revenue growth environment, high unemployment and extensive poverty.

The Budget Day page will accompany readers through the Budget Day journey. This page will showcase quality analysis relating to the 2016/17 budget together with the related investment, tax, legal, and macroeconomic implications, and we hope it enhances your overall experience.


Our Contributors


Michael Sassoon


Liston Meintjes 


Bradley Mitchell


Mike Haworth 


Michael Sassoon is the Head of Wealth and Capital at Sasfin.In addition, Michael is also the CEO of Sasfin Securities, having previously fulfilled the role of Head of Group Marketing and Business Development at the Bank. Michael holds an MBA from the Simon Graduate School of Business at the University of Rochester, New York.





Liston is the Head of Investments at Sasfin Wealth. With a strong technical and professional background in investment management, Liston manages tactical asset allocation manager research, using quantitative and qualitative analysis. Liston also assists Sasfin Securities in terms of company research (local and international) and integrated research, interfacing with their Chief Strategist and their Bond team for inputs to investments used in the SAM unit trusts.



As Sasfin Wealth’s Head of Research, Bradley holds a BSc in Actuarial Science and Mathematical Statistics with eight years’ experience in institutional stockbroking. Previously at Nedbank Capital, as a quantitative analyst, Bradley provided quantitative support for the strategy team, by creating quantitative research models wed to emphasise investment recommendations. He was subsequently involved in the development of a beta product suite.





An industry veteran, Mike has a BSc Eng. from the University of Witwatersrand and an MBL from Unisa. Mike began his journey in investment research at UAL Merchant Bank in 1985. From 1987 to 1999, he worked as a sell side industrial analyst for stockbroking companies Mathison & Hollidge, Frankel Pollak, EOM, BoENatWest and Nedcor Securities. From 2000 to late 2008 he was Head of Investment Strategy at Nedcor Securities and has since been consulting on investment strategy process and systems to a number of stockbroking and asset management houses.