| Food producers are clearly not sheltered from the Covid-19 fallout despite initial strong demand as South Africans stocked up for the lockdown. Tiger Brands has warned that a prolonged and deep downturn will continue to impact its performance. With jobs on the line and needing to preserve cash, it hasn't declared an interim dividend. Netcare has suspended its interim dividend as well after postponing non-urgent procedures at its hospitals as it got ready for Covid-19 patients, resulting in a big decline in occupancies. And Truworths says it is unlikely to pay a dividend as it prepares for a big decline in earnings. They were among a number of companies yesterday outlining the pressure Covid-19 has put them under - and the lack of certainty about the longer term impact of the pandemic. With local businesses facing difficult and uncertain times, we are launching a new publication on Thursday called InceConnect Business, aimed at helping founders, entrepreneurs and business owners to make smarter and more informed decisions - just as InceConnect has served individual investors for the past five years by providing them with the information they need to improve their investment decisions and make their financial lives easier. The InceConnect Business team of industry professionals has been hand-picked based on their previous experience, their direct experience in conceptualising, starting-up and developing businesses, and their passion for writing jargon-free, easy-to-read content. If you'd would like to subscribe to the new publication, simply reply to this email with the world Subscribe in the subject line. Have a good day and stay safe. Stephen Gunnion Managing Editor, InceConnect
Take a look at the latest Insights and sector reports From Ingham Analytics. Are interest rates higher than they could or should be? In "South African Reserve Bank monetary policy emasculated" top trader Andrew Kinsey argues that SA has had to deal with the pernicious effects of multiple major central banks pursuing colossal programs of Quantitative Easing without any due regard for the impact on emerging markets. There are spillover consequences for the domestic economy and asset pricing, all of which affect your wealth and your pocket. In the light of the latest interest rate cut and the announcement of a Covid-19 loan guarantee scheme to help small and medium sized businesses, Ingham Analytics' "Say buddy, can you spare a dime?" will be of topical interest. Are we staring at possible systemic risk? What effect on banks? On the topic of banks, "Poseidon and the other banking gods" takes the discussion further with a more international perspective as the coronavirus impacts the global banking system. | 