Foreword

Misinformation is probably one of the most used words in recent months and it seems that even our “AI” or artificial intelligence compatriots are struggling to separate fact from fiction. With that in mind, we’ve opted to keep this foreword human-authored, grounded in real-world insights and experiences.

One key theme that continues to stand out is the value of genuine, human relationships – something AI cannot replicate.  A recent example that brought this to life was the South African delegation’s visit to the White House on 21 May 2025, which included leaders in both business and sport. Both the latter apparently being included in President Ramaphosa’s delegation on invitation or suggestion by President Trump. The power of personal connections often forged in boardrooms and on golf courses evident to see.

As we continue to navigate our way through the often-turbulent waters of 2025, the strength of these relationships will be critical to business success. We were reminded of this during a recent visit to North-West University’s career fair in Potchefstroom, where we engaged with and recruit aspiring professionals who could one day help us nurture and expand our client relationships.

Encouragingly, Budget Speech 3.0 did not bring further VAT surprises and hopefully ending the unprecedented delay in the budgeting process. The South African Reserve Bank’s decision to reduce the repo rate by 25 basis points added an additional sweetener at the end of May for those with debt.

At ASL we firmly believe that strong relationships are central to sustainable growth, hence its inclusion as part of our firm values. We look forward to strengthening our existing relationships and creating new ones in the months ahead!