The Minister of Finance has published amendments to the Financial Sector Regulations in terms of sections 61(4), 288 and 304 of the Financial Sector Regulation Act No.9 of 2017 (FSR Act). “… weaknesses in the regulations have delayed the process to complete the appointment process, and necessitated amendments to the regulations,” the statement reads. The […]
Ask Afrika is conducting independent research on an ongoing basis to understand the socio-economic impact that the Coronavirus, lockdown and gradual reopening of the economy has on South Africans. The latest results show that during advanced level 3 of the lockdown, citizens have been mindful of their spending, with half having to borrow money to […]
“We are all at a crossroads and needing to reimagine our future. Several macro trends were already in play before COVID arrived and this has just escalated the conversation and the need to act,” Lynda Smith, CEO of 50plus Skills mentioned at a recent COVID-19 webinar hosted by 50plus Skills and sponsored by Just Retirement […]
The Insurance Crime Bureau (ICB) previously issued a vehicle recall scam alert following a significant increase in the number of cases. It seems that this scam is still active and here is some important information on how it works: 1. A person posing as an employee of a vehicle manufacturer or dealership (referred to as […]
DebtBusters’ latest debt index for Q2 2020 reveals that South African consumers’ debt levels continued to deteriorate over the lockdown, with higher-income earners having unsustainable debt-to-income ratios. Benay Sager, DebtBusters’ chief operating officer, says that net incomes have declined in real terms and consumers are supplementing this by borrowing heavily, especially using unsecured loans. Ask […]
South Africa’s crime levels not only have an impact on individuals, families and communities, it also has serious financial implications, especially on the insurance industry as the increase in crimes lead to an increase in claims and subsequent premium increases. This week’s release of the crime statistics for the period April 2019 to March 2020 showed an […]
Recent announcements by the President and Minister of Finance conveyed the disgust of South African citizens with the rampant plague of theft and fraud permeating the country. A headline in Daily Maverick Citizen on 2 August read: There should be a place in jail for everyone who steals from their own people. But there should be […]
August is Women’s Month, a reminder to highlight the contributions of women to events in history and contemporary society. Financial services group Liberty has recently launched a series of online conversations to unearth the value women bring to the economy in a time of COVID-19 and beyond. “According to a Flux Trends Report on the […]
Earlier this year, the Intergovernmental Fintech Working Group (IFWG) Innovation Hub was launched to respond to changes in the financial sector driven by financial technology (fintech) and to promote responsible innovation in the sector. One of the recent deliverables of IFWG is a document that provides a forward looking, high-level vision for South Africa’s Fintech […]
Financial Mail Top Analysts Last week, the 51 awards in the 45th annual Financial Mail Top Analyst Awards were announced. This recognition, in association with Iress, the JSE, and the CFA Society South Africa, recognises and awards South Africa’s top analysts in the institutional stock broking industry. “It’s been a remarkably challenging period for analysts, […]
