Treasury accepts most of the industry’s two-pot proposed amendments
Among other things, the revised Amendment Bill will clarify how funds should calculate seeding when provident fund members choose to join the system.
Industry News
Consumer settlements rise as FAIS Ombud sharpens complaint handling
More than R39m awarded to consumers as complaints settled in their favour increased from 29% to 35% in 2023/24.
Class action litigation in SA could spike with ‘non-attack’ data breach claims
Improper data handling could lead to expensive claims, and stronger enforcement of POPIA is critical to preventing future litigation, say legal experts.
Former Joburg mayor arrested for alleged funeral insurance scam
Kabelo Gwamanda is accused of conning Soweto residents through his company, Ithemba Lama Afrika, leaving policyholders stranded when the business vanished in 2012.
Rethinking inflation: SARB’s governor on achieving lower rates without sacrificing growth
Having reached the target of 4.5% with ‘little or no cost’, Lesetja Kganyago argues that South Africa can achieve permanently lower inflation and interest rates.
Building South Africa’s future: can infrastructure investment overcome regulatory hurdles?
Mika Adsetts, global chief investment officer of Momentum Multi-management, says that while PPPs are crucial for advancing infrastructure goals, an array of investments is key to scaling these projects.
South Africa’s workforce forecast to see average 6% pay rise
Average inflation is expected to be 5.1% in 2024 and 4.8% in 2025 and 2026, according to the Bureau for Economic Research’s latest inflation expectation survey.
Fraudsters impersonate FSCA commissioner in latest scam
The FSCA also reiterates its warning against Donafin, which continues to charge fees for unauthorised financial services.
Beware the payback trap of the 60/40 portfolio
In investing, one key factor is often overlooked: the payback period. Understanding duration can reshape your portfolio strategy and help you manage risk more effectively.
Regulator pushes for tougher PAIA enforcement to combat low compliance
Key proposed amendments include imposing fines for non-compliance, enhancing the Information Regulator’s authority to issue directives, and introducing search-and-seizure powers.
SARB seizes over R67 million from former Steinhoff executive
Stephanus Grobler, who is facing multiple charges including racketeering and fraud, is due to appear in court in February next year.
When money matters: understanding the link between financial stress and mental health
Financial stress frequently appears in the workplace as anxiety, which can develop into depression, increased absenteeism, and substance abuse.
Closing the gaps in cancer care: academic advocates for patient-centred solutions
Associate Professor Tasleem Ras’s analysis of a patient’s case highlights critical pitfalls in cancer care.
Entity falsely claims to be associated with MiWay Insurance
FSCA warns about Miway Express Credit Solutions, as well as entities and individuals who are impersonating legitimate FSPs.
PSG delivers 28% earnings surge despite tough market conditions
The group reported a 15.9% increase in assets under management to R435bn.
Why lower CPI won’t mean lower healthcare costs for South Africans
Medical inflation outpaces CPI because of unique pressures such as the rising costs of technology, chronic diseases, and private healthcare pricing.
The rise of ‘non-attack’ data claims in a changing cyber landscape
The Allianz Commercial Cyber Security Resilience report shows that the costs associated with certain data privacy breach claims can match or surpass those of ransomware incidents.
