SARS launches expedited tax-debt compromise process
SARS will negotiate compromises only where liability is undisputed and both parties agree the taxpayer cannot pay in full.
Banxso licence withdrawal – FST dismisses reconsideration bid
The Tribunal dismisses separate applications brought by Banxso and four executives, saying they lack legal standing.
SASRIA can absorb a catastrophe claim of up to R20bn
The state-owned insurer says it is on track to reach R30bn in reserves by 2029 – but emerging risks could still put its resilience to the test.
Medihelp to appeal contempt judgment in Elaprase case
Medihelp says it will challenge the judgment while the cost of Elaprase awaits a final decision by the CMS Appeal Board.
Santam starts onboarding farmers under SA’s first parametric insurance licence
Parametric insurance offers smallholder farmers a lifeline against climate shocks, with payouts triggered by predefined weather events rather than traditional claims processes.
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.
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
Family-wide gap cover: a budget lifeline for single-income households
For single parents, a ‘one-family, one-premium’ gap policy turns unpredictable medical shortfalls into a fixed monthly cost, protecting household cashflow.
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.
Plan your next career move at MBSE’s November Virtual Open Days
MBSE’s free Virtual Open Days from 11 to 13 November offer aspiring and established finance professionals a chance to explore accredited qualifications, engage with lecturers, and map out their next academic step.
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.
‘Adviser assistants’ under supervision are representatives
The Tribunal finds that the applicant’s contractual and supervision agreements meant she was a ‘representative’, placing her within the FAIS framework and its mandatory debarment provisions.
