Static salaries affect insurance industry
Wednesday, July 15, 2015
Speaking to Mmegi Business, Kubu said pressure on disposable incomes is mainly due to inflation and non-adjustment of salaries, particularly among civil servants.
“As a result we are rethinking business processes and product ranges, in order to remain competitive under the harsh economic conditions to meet the evolving needs of our customer base,” he said.
While the political shift brings hope for change, it also places immense pressure on the new administration to deliver on its election promises in the face of serious economic challenges.On another level, newly appointed Finance Minister Ndaba Gaolathe’s grim assessment of the country’s finances adds urgency to the moment. The budget deficit, expected to be P8.7 billion, is now anticipated to be even higher due to underperforming diamond...