The PA and the repayment administrator accuse Ithala of operating unlawfully – comparing its actions to a Ponzi scheme. Ithala argues the freezing of depositors’ accounts is a calculated manoeuvre designed to collapse its operations.
Despite the wind-down of OUTsurance’s employee share ownership plan, CEO Marthinus Visser says the transition to a Customer Shareholding Plan will maintain employee motivation.
With the government now R8.6 billion short, planned social grant increases have been slashed – while Home Affairs and border management also see deep budget cuts.
The group recorded double-digit earnings, robust new business volumes, and an increased dividend, all underpinned by its tri-regional focus.
With the integration of Assupol well under way, Sanlam is working to streamline its operations and enhance its market position.
ASISA warns that reclassifying collective investment scheme portfolios as profit-making schemes will undermine years of established investment policy.
Momentum Investments’ latest Sci-Fi Report reveals how switching funds at the wrong time continues to erode returns, with behaviour tax remaining alarmingly high post-Covid-19.
Taxpayers may struggle to challenge SARS’s authority to repatriate foreign assets after a High Court ruling upheld its powers, potentially paving the way for more assertive tax enforcement.
Despite a 20-year debarment, a R143m fine, and even losing a leg in a motorcycle accident, Cobus Geldenhuis is allegedly still defrauding investors under a new alias.
Financial planners weigh in on the fallout and why investors should stay calm.
A PA-commissioned solvency report questions Ithala’s financial health, raising concerns about its equity, loan book, and potential shortfall in repaying depositors.
The arrest of two more former Steinhoff executives ties back to a fraudulent scheme involving a handwritten note by Markus Jooste.
The Department of Basic Education has filed a review application, aiming to have the notice barring the publication of the matric results declared unconstitutional.
Authorities have convicted six individuals in the VBS Mutual Bank fraud case, including former executives and municipal officials. However, with 29 accused still on trial and 43 more suspects under investigation, the case is far from over.
PSG Asset Management warns that market complacency, overconcentration in US equities, challenging starting valuations, and potential policy risks could make the next decade challenging for investors.
The increase in certified professionals reflects both a growing recognition of the value of financial planners and a shift towards more inclusive, client-focused financial advice.
Treasury and SASSA respond to an allegation that Ithala’s client database was ‘unlawfully’ transferred to FNB.
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