Steinhoff’s shadow still looms over Pepkor as SARB freezes shares
The SARB freezes 506 million Pepkor shares held by Ainsley, a subsidiary of Ibex, which took over Steinhoff’s assets and liabilities following its liquidation.
SARB
KZN Treasury’s R2.4bn loan request raises more questions than answers
As the KwaZulu-Natal government scrambles to keep Ithala afloat, its urgent request for a R2.4 billion loan from National Treasury sparks confusion – especially given an earlier government guarantee.
PA report contradicts Ithala and KZN Treasury’s solvency claims
A PA-commissioned solvency report questions Ithala’s financial health, raising concerns about its equity, loan book, and potential shortfall in repaying depositors.
More arrests in Steinhoff saga as executives face justice
The arrest of two more former Steinhoff executives ties back to a fraudulent scheme involving a handwritten note by Markus Jooste.
SIU investigation into Ithala tender unrelated to liquidation bid
Meanwhile, MPs have questioned the SARB’s push to liquidate Ithala, arguing it conflicts with Parliament’s resolution to support the bank’s growth.
Bank of America predicts only one repo rate cut this year
Stable growth and fiscal discipline could see South Africa’s credit rating rise two notches in the next three years.
Access Bank and Sava aim to transform small-business banking in SA
Sava, a fintech startup backed by Access Bank South Africa, has received regulatory approval to launch a digital banking platform tailored to SMEs.
Ithala hits back: sharp criticism of Reserve Bank’s liquidation move
Ithala accuses the appointed repayment administrator of overstepping his authority, while the Prudential Authority moves to liquidate the entity.
How Ithala’s banking ambitions crumbled: the rise and fall of a rural icon
The Prudential Authority’s push for Ithala’s provisional liquidation has brought the bank’s journey to an abrupt halt, leaving 257 000 depositors in limbo.
SARB warns of the risks if SA fails to exit the grey list by June 2025
The bank’s Financial Stability Review also flags the growing financial distress among households and SMMEs and the vulnerabilities in the commercial real estate sector.
SARB unfreezes R9bn: a win for Ibex Holdings in settling foreign debts
The SARB plans to continue enforcement action against Ibex Holdings, formerly Steinhoff, and other parties but may consider a settlement to resolve the matter.
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.
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.
SARB’s first rate cut in four years sparks debate on interest rate trajectory
How low will the repo rate drop, and how fast? Economists share their insights.
What is supercore inflation, and could it influence the SARB’s rate decisions?
With the South African Reserve Bank’s 25 basis point interest rate cut announced last week, Ninety One explores the central bank’s new inflation measures – supercore and PCCI.
Are South Africans ready for the digital payment revolution?
The South African Reserve Bank’s inaugural Payments Study Report provides extensive insights into how the public perceives and uses various payment methods and instruments.
Sasfin fined R160m for ‘non-compliance’ by discontinued forex business
The bank also faces a R4.9bn claim arising from SARS’s alleged inability to collect taxes and penalties from former foreign exchange clients.
