
Parliament hits pause on urgent JIBAR transition Bill
The invalidation of the Public Procurement Act has left lawmakers weighing whether removing part of the amendment Bill would require further public participation.

The invalidation of the Public Procurement Act has left lawmakers weighing whether removing part of the amendment Bill would require further public participation.

The rules governing public procurement remain in place, but the government’s plan for a new framework has been sent back to the drawing board.

A Bill before Parliament would give the SARB a statutory mechanism to address legacy contracts that still reference JIBAR when the benchmark ceases at the end of 2026.

The proposed framework would require future administrations to set out fiscal plans consistent with sustainable public finances and a declining debt burden.

The funds were released despite incomplete compliance, with municipalities now subject to structured programmes and deadlines aimed at correcting financial and governance failures.

Kedibone Madiehe was found guilty of breaching the PFMA, procurement rules, and her fiduciary duties following several forensic investigations.

The annual benefit escalations for policies that fall under the Demarcation Regulations.

The industry broadly supports centralising tracing and administration but questions whether moving assets to the CPD is necessary, appropriate, or in members’ interests.

Moonstone’s updated calculator enables FSPs to estimate their Schedule 2, Ombud Council, Tribunal, and FAIS Ombud levy components.

Improving domestic fundamentals, a potentially weaker US dollar, and lower inflation could mean the rand depreciates more slowly than investors have come to expect.

The framework separates administration from custody and investment and introduces a possible time limit on owners’ and beneficiaries’ claims.

From the rand and commodities to electricity and logistics, several pieces of the South African investment story are moving in the right direction.

Treasury wants to close what it sees as a tax-avoidance route involving emigrating spouses, while proposing a taxpayer-friendly change to voluntary disclosures.

The proposal puts SARS’s existing cumulative approach into the Income Tax Act, ending uncertainty over whether the R150 000 limit applies per policy.

Retirement funds back efforts to make unclaimed benefits easier to find but say transferring billions in retirement assets into a central fund goes too far.

Early industry reaction focuses the implications for stablecoin payments and self-custody wallets, and the compliance burden.

The SARB’s governor argues the country knows how to revive the economy; the real test is whether it has the resolve to implement the necessary reforms.