FST upholds withholding of R2.16m benefit amid Shoprite fraud case
The decision makes clear the requirements for a lawful withholding: a prima facie case of dishonesty and demonstrable, timely steps by the employer to recover losses.
Industry News
Sanlam’s AI Coach expands into healthcare
Sanlam Studios’ upgraded AI Coach now offers guidance on medical aid, primary care and gap cover.
MicroFinance SA rebrands as CASA to broaden focus across credit sector
The newly named Credit Association of South Africa aims to strengthen responsible lending, financial inclusion, and advocacy
Affordability pressures to drive innovation as insurance gap hits R50 trillion
The Insurance Gap Study finds SA’s life and disability shortfall has swelled to R50.4 trillion, with the average earner holding only 39% of the cover their dependants would need.
FAIS Ombud lauds large FSPs for settling more disputes directly with consumers
New enquiries soared in 2024/25, signalling higher public awareness; yet the number of cases opened fell as many matters were settled without the Ombud’s involvement.
Huge shortfall in critical illness protection leaves most income earners exposed
ASISA’s research shows formally employed South Africans face a major liquidity risk: R4 trillion in earnings versus only R1.1 trillion in critical illness cover.
BHF asks Treasury for clarity on plan to phase out medical tax credits
According to the Board of Healthcare Funders, the Department of Health’s presentation indicates the credits will be eliminated by the beginning of 2029.
Tax Ombud’s 10 top refunds total R167m
Requiring SARS to provide written reasons when it rejects the OTO’s recommendations has resulted in an increase in the resolution of complaints.
Old Mutual to buy majority stake in 10X Investments for R2.2bn
The move accelerates Old Mutual’s retail-direct strategy and strengthens its position in the passive investment market.
Treasury urged to retain tax relief for manager-initiated unit trust transactions
ASISA says further consultation is needed to avoid negative consequences for investors and the collective investment schemes market.
Ninety One to list two actively managed ETFs on the JSE
One fund provides a Regulation 28-friendly way to access a South African multi-asset income strategy, while the other is a rand feeder into a US dollar multi-asset income fund.
Exiting the grey list won’t relax oversight – regulators pledge continued enforcement
The authorities say that supervision, prosecutions, and measurable outcomes must continue to avoid re-listing as the next mutual evaluation starts in 2026.
Delisting restores SA’s credibility, but major repricing unlikely
Analysts say sustained capital inflows will depend on continued reform, enforcement, and the wider global backdrop.
RAF management dismissed warnings as ‘negativity’ while claims crisis deepened
Internal alerts on soaring payouts and mounting claims were dismissed as ‘negativity’, allowing the RAF’s operational and financial crisis to deepen, SCOPA is told.
Income protection leads Bidvest claims as clients face higher short-term risks
According to Bidvest Life’s 2024 Claims Report, younger clients and women accounted for most income protection claims – signalling where advisers’ risk focus may need to shift.
Grocery store liable for shopper’s injuries despite disclaimer notices
A High Court ruling has confirmed that retailers can’t rely on disclaimer notices alone to avoid liability for customer injuries.
NHI Act | Sakeliga opposes Health Minister’s stay-and-consolidate application
The business group says the proposed stay will shield the Act from judicial review while allowing implementation to continue.
