SA’s ratings revival comes with a warning: don’t ignore the ‘uglies’
Fitch’s first upgrade in 21 years caps a remarkable turnaround, but hidden liabilities, weak growth, and structural problems stand between the country and investment-grade status.
Industry News
NFO recovers R442.99m for consumers as complaints climb
Digital-banking scams, rejected funeral claims, and insurance disputes over exclusions and maintenance emerged as key pressure points in 2025.
SCOPA finds RAF failed experts, then tried to let their claims expire
Years of payment delays, missing invoices, and weak administration left medical experts unpaid, before the Fund sought to invoke prescription against some claims.
More early signs that the two-pot system is working
Data from Alexforbes and Sanlam suggests more members are preserving retirement savings, though it is too soon to know whether the shift will last.
NFO’s only non-life final ruling of 2025 turns on theft, not ‘missing items’
Even though the SAPS case was marked ‘unfounded’, the NFO held this did not prove there had been no theft, and the policy claim fell within cover on the facts.
Bigger, older, and more concentrated: 7 facts reshaping medical schemes
Twenty years of industry data show that medical schemes have become increasingly dependent on scale, investment returns, and strong reserves to remain sustainable.
Convicted fraudster jailed again for second ‘investment’ scheme
More than 20 years after his first conviction, a court found that Andrew Futcher ran another scheme that left investors millions out of pocket.
Old Mutual sees strong Q1 as life sales rise and OM Bank customers jump
New life sales rose 28% in the quarter to March, while stronger investment inflows and a better new business margin supported a broadly positive update.
COFI will test whether retirement funds are truly member-first
Old Mutual Corporate says the real COFI test is cultural: funds must start with the member outcome and build governance around it.
Medscheme rejects Bonitas’s explanation for post-transition disruptions
Medscheme says it repeatedly warned Bonitas against a ‘clean-cut’ transition and disputes the scheme’s claim that unresolved legacy issues were behind the service disruptions experienced by members after the administration switch.
Bonitas members caught in service disruption after administration switch
The medical scheme says legacy issues contributed to post-transition challenges as members report delays with hospital authorisations and medication approvals.
Judgment adds to uncertainty over crypto’s exchange control status
The High Court backs the SARB’s position that moving Bitcoin to foreign exchanges can amount to an unlawful export of capital.
SCOPA presses ahead with Letsoalo charge despite legal risk
SCOPA votes to proceed with a criminal charge against former RAF CEO Collins Letsoalo, despite uncertainty over whether the summons he ignored was served correctly.
Opposition MPs press FIC for answers on Phala Phala matter
The Centre said the law prevents it from confirming whether it has received, analysed, or shared information relating to specific cases or individuals.
COFI is changing the FSCA before it changes the industry
The Authority is adapting its supervisory model, regulatory framework, and systems to support an outcomes-based approach to conduct regulation.
Bogdanov to challenge ruling upholding JSE sanctions
The FST dismisses former EOH director Anushka Bogdanov’s application for reconsideration of sanctions imposed over misrepresented qualifications.
Tribunal draws a hard line on undisclosed client benefits
The decision turned on the adviser’s acceptance of personal benefits from a client, the lack of proper compliance disclosure, and the higher standard expected of a KI.
