ConCourt narrows rand-rigging case but keeps key claims alive
The Competition Commission failed to revive most claims against the banks, but the judgment clarifies the legal framework under which the remaining case will proceed.
Industry News
Was it really just Covid?
A review of five years of Medihelp’s annual reports traces the events behind the scheme’s fall below and its rise back above the statutory minimum.
Santam joins insurers rewarding claim-free customers with cashback
The new programme pays qualifying policyholders 10% of premiums back after claim-free periods, reflecting the growing use of rewards to build customer loyalty.
Kandua launches AI home maintenance companion
Jess helps homeowners to diagnose repair problems, estimate costs, and connect with contractors, illustrating how AI is expanding beyond insurance into everyday customer services.
The quiet revolution in retirement fund costs
Despite two decades of growing regulation, administration costs have fallen sharply, leaving more retirement contributions invested for members.
Medihelp’s turnaround: How the scheme rebuilt its business before its balance sheet
Twelve months after reporting a solvency ratio of just 20.99%, Medihelp returned above the statutory threshold while almost nine-folding its operating surplus.
SARB forfeits nearly R11m in assets from former Steinhoff executive
The Reserve Bank orders the forfeiture of Chris Grové’s cash, property, and vehicles following a long-running exchange-control dispute.
Seven years of growth: What Bestmed’s numbers say about its sustainability
Membership, claims, reserves, and solvency all point to a strong year, but they also reveal the long-term pressures facing the scheme.
Discovery financially stronger, but beneficiary base shrinks again
DHMS improved its solvency, surplus and principal membership, but an ageing risk pool, fewer beneficiaries, and a claims-system error tempered the year’s progress.
FSCA provisionally withdraws Mixirite’s licence
The regulator’s concerns include alleged high-pressure sales tactics, unrealistic return promises, and inadequate disclosures to clients.
Ithala enters next phase as repayment administrator’s role comes under review
As the National Treasury-backed repayment programme for Ithala depositors nears completion, KZN Treasury says the Prudential Authority will review the repayment administrator’s role.
ConCourt confirms limits of VAT relief for second-hand gold
Refining does not erase the legal significance of earlier manufacture into non-prescribed forms such as jewellery.
Could your Uber ride be processed as an international payment?
The SARB is proposing new rules to address situations where local services are paid for through offshore payment networks.
Consumers fear they are running out of financial breathing room
A Debt Rescue survey suggests many households have little capacity left to absorb higher borrowing costs, adding to concerns about rising food, fuel, and electricity expenses.
Seven-year R5.5m fraud exposes dangers of unchecked payment controls
Businesses should regularly review user permissions and payment approvals to reduce opportunities for financial misconduct.
SCA’s property rights ruling has lessons for new expropriation law
The ruling was decided under the 1975 Act, yet commentators say its constitutional principles will remain relevant when the new law eventually takes effect.
Living benefits dominate claims among under-30s
Discovery’s claims data highlights how illness and disability can disrupt a young adult’s financial future long before retirement planning begins.
