Fuel levy rises despite court challenge, but price drop cushions blow for motorists
The fuel levy hike remains in force, but a broader court challenge over the finance minister’s power to increase taxes continues.
Industry News
Steinhoff reckoning – final charges expected soon in high-stakes fraud case
With a finalised charge sheet due within the next two weeks, three ex-Steinhoff managers accused of serious financial crimes inch closer to trial in one of South Africa’s biggest corporate fraud cases.
Momentum’s new business sales down 4% compared to the third quarter of 2024
Lump-sum product sales in Momentum Corporate and Metropolitan Life weakened, while life annuity volumes continued to grow in Momentum Investments.
Ninety One grows AUM by 4% in ‘another tough year’
Despite net outflows of £4.9bn, positive market and foreign exchange moves added £9.7bn to assets under management in the year to March 2025.
FSCA warns of surge in impersonators using fake credentials to scam investors
Fraudsters are posing as the FSCA and licensed financial service providers on social media.
Santam to unify specialist businesses under single brand banner
Santam will rebrand five of its specialist insurance units under a single identity, streamlining operations and strengthening its presence across Africa and emerging markets.
Old Mutual and YuLife partner on digital-first employee benefits programme
The new offering pairs group risk cover with gamified wellness tools to meet the rising demand for digitally enabled workplace benefits.
Did the FSCA overstep in Banxso’s liquidation battle?
Banxso claims the FSCA violated the Financial Sector Regulation Act by handing over interview transcripts that were supposed to remain internal. The Authority insists its subpoena was valid and no promises of confidentiality were made.
My mid-year outlook: US economy is the catalyst for volatility
As markets sputter between euphoria and panic, Ryk de Klerk argues that the true driver of volatility is the underlying health of the US economy.
RAF loses another medical scheme member liability case
The High Court, endorsing the minority judgment’s view, rules the Fund must pay the medical expenses covered by Discovery Health.
Strict test for discharging an interdict: lessons from Cadac Pension Fund ruling
The judgment underscores that, absent a fundamental shift in facts or law, courts will not allow steps that could prejudice unresolved disputes over member rights.
Tariffs survive challenge as Federal Circuit pauses lower court’s decision
The court cited substantial legal issues over the president’s trade powers and the risk of economic harm, directing the parties to file briefs by early June.
Cryptocurrencies outside Exchange Control Regulations, court rules
Legal experts anticipate a legislative response to plug the loophole and safeguard against large‐scale capital flight via digital assets.
Letsoalo lawyered up a week before RAF board put him on ice
A week before being placed on special leave, RAF chief executive Collins Letsoalo enlisted legal counsel and declined to appear before Parliament’s Standing Committee on Public Accounts.
‘A train wreck’: SCOPA chair tears into RAF board over vacancies and fiscal chaos
Committee chairperson Songezo Zibi slams the Road Accident Fund’s leadership for dysfunction, defying court rulings, and turning oversight into a ‘mockery’.
Liberty flags high income protection claims in the financial sector
The group also notes a surge in capital disability benefit claims, driven by increases in the number of claimants and the average sum assured.
Court strikes down Trump’s emergency tariffs as executive overreach
The White House has already filed an appeal, setting the stage for a legal battle that could reach the Supreme Court.
