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Industry News

07 Apr 2020

Innovation Hub to promote responsible innovation in the SA financial sector

South Africa’s financial regulators have launched the Intergovernmental Fintech Working Group (IFWG) Innovation Hub to respond to changes in the financial sector driven by financial technology (fintech) and to promote responsible innovation in the sector.

07 Apr 2020

US jobs slump is just 'tip of the iceberg'

The US is expected to be about three to four weeks behind Europe in feeling the impact from the Covid-19 global pandemic. Therefore, when the US Bureau of Labor Statistics (BLS) reported 701,000 non-farm job losses for the month of March it came as a severe shock.
07 Apr 2020

Can I freeze my medical aid contributions because of financial strain during COVID-19 lockdown?

South Africans are under significant financial strain following recent occurrences, particularly regarding the extreme measures implemented by President Cyril Ramaphosa in an attempt to curb the spread of the Coronavirus.

07 Apr 2020

Coronavirus: Short-term closure of plants or premises can pose risks for companies

Many companies are having to shutdown their premises temporarily at short notice due to the Covid 19 pandemic. According to the risk consultants of Allianz Global Corporate & Specialty (AGCS), improper action or negligence when decommissioning buildings and production facilities brings risks for companies.
07 Apr 2020

Government and banks offer debt relief for businesses hit by Covid-19

As South African businesses suffer the impact of the Covid-19 pandemic and national lockdown, small businesses can apply for debt relief from most of the major South African banks and several State programmes.

07 Apr 2020

Managing business risks during COVID-19

Because we don’t know how long the COVID-19 epidemic may last, businesses must thoroughly assess their risks and quantify the effects of business disruption as best they can. These are unprecedented times for all of us, and the only certainty is that the way we do business will change. Even before COVID-19 became a global...
06 Apr 2020

Prudential Authority to support banking system in response to COVID-19

The Prudential Authority (PA) of the SA Reserve Bank (SARB) says it welcomes the measures taken by banks to support their customers during the present period of economic turmoil and uncertainty brought on by COVID-19.

06 Apr 2020

What happens to property transactions during lockdown?

As companies and individuals come to terms with what lockdown means, many are getting over the initial shock and starting to wonder what happens to their property transactions that were under way as lockdown was declared.
06 Apr 2020

Old Mutual Insure’s COVID-19 response aims to strengthen South Africa’s long-term risk readiness

Old Mutual Insure recognises that COVID19 has had a significant impact on our customers, service providers and communities. We have put together a comprehensive plan to support these stakeholders through the lockdown and the uncertain months to follow.

06 Apr 2020

'Fitch downgrade is not as bad as it seems'

There was more salt in the wounds for South Africa when Fitch announced over the weekend that they were downgrading government's credit rating another notch, this follows the announcing by Moody's a week ago that they were also downgrading the credit rating.

Visit the official COVID-19 government website to stay informed: sacoronavirus.co.za