RAF drops audit fight as investigation into R1bn media contracts heats up
The Road Accident Fund has withdrawn its challenge to the Auditor-General and accepted adverse findings.
Author: Nettalie Viljoen
Bonitas-Medscheme split: what the CMS probe means for members
The scheme and the regulator say a narrowly focused investigation will not halt the transition – but members should brace for some operational changes.
Staffing gaps deepen RAF’s legal and financial exposure
Severe understaffing in the Fund’s legal unit compounded years of governance failures and drove a surge in default judgments and rising claim costs.
Classic Financial creditors see first dividend, just over 6%
The initial payout returns roughly 6 cents on the rand to creditors, with legal costs taking a large slice – but further recoveries may change the final dividend.
Ithala depositor payouts to continue through 2026 with three-year claim window
FNB has disbursed over R1 billion to Ithala customers and is sending about 5 000 SMS notifications per day to schedule branch visits.
A way out sought for consumers stuck in debt counselling
The National Debt Counselling Association is pushing for a regulated mechanism to remove consumers from incomplete debt counselling caused by life-changing events.
CMS says GEMS cannot cut 25% reserve requirement
The comment comes amid a growing standoff between organised labour and GEMS after the scheme announced a 9.8% contribution increase for 2026.
Appeals Board ruling puts Centriq–Dis-Chem partnership on the line
In Circular 48, the CMS signals tougher enforcement against exempted insurers, warning that non-compliant branding and failure to notify regulators will attract decisive action.
Out of the grey, not yet in the clear: what EU delisting really means for South Africa
South Africa’s removal from the EU’s high-risk list eases regulatory friction, but economists caution that rebuilding investor confidence will be gradual.
R2.1m in penalties: FSCA shuts down unauthorised forex scheme
The FSCA has fined two individuals R2.1 million and debarred them for 20 years after uncovering an unauthorised forex-trading scheme that drew in hundreds of investors.
RAF inquiry | ‘You can’t fix liabilities through accounting’
Treasury says the RAF must address its claims and payments processes, not try to manage its massive liabilities by changing accounting standards.
ASISA report: ownership gains, management equity lags, new targets raise pressure
The misalignment between the FSC benchmarks and stricter government employment equity targets is set to increase the transformation pressure on life offices and asset managers.
Old Mutual banks on late-mover edge as OM Bank goes live
CEO Clarence Nethengwe says arriving after rivals has given Old Mutual the chance to learn what customers really want in digital banking.
Two-pot system could quadruple South Africans’ savings, Discovery says
Despite fears of mass withdrawals, early data shows most members are preserving their two-pot savings – a shift that could leave South Africans up to four times wealthier in retirement.
Medihelp’s solvency dips again, but scheme says recovery plan is working
Medihelp says its recovery plan is on track, with strong cost controls, younger members, and CMS-approved funding measures set to restore financial stability by 2026.
Financial institutions should prepare for ‘more demanding’ AML/CFT review
The FATF’s mutual evaluation in April 2027 will drill down into how well AML/CFT measures work in practice rather than just ticking technical boxes.
Expect the FSCA to call – heightened AML/CFT oversight ahead
What the Authority expects from financial services providers when it conducts Financial Intelligence Centre Act inspections.
