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Industry News

03 Apr 2020

Momentum Multiply offers more rewards during the lockdown

Momentum Multiply has announced it will offer increased benefits to its members from 1 until 30 April 2020, as a means to respond to their financial and physical wellness needs resulting from the lockdown.
03 Apr 2020

Preparing your business for COVID-19 and essential key points for businesses in financial distress

9 points for businesses to consider in working through these challenging times By Kylene Weyers Senior Associate in the Cliffe Dekker Hofmeyr Dispute Resolution practice 1. Take a reality check Are you already in financial distress? This may a tough reality to face, but it is an essential starting point. Many businesses in financial distress are...
03 Apr 2020

Unleash billions from medical emergency reserves, urges KHUSA Consulting

Financial services expert, KHUSA Consulting, has called for the release of billions of rands from medical schemes’ emergency reserves to help treat COVID-19 patients in South Africa.
03 Apr 2020

Do credit rating reviews make any sense in the COVID-19 context?

While South Africans were busy preparing for a 21-day shutdown, the ratings downgrade which hung like the sword of Damocles over the country would’ve been pushed to the back of its collective conscience.
03 Apr 2020

COVID-19: The pin that popped the bubble

Last year, global equity markets delivered the best calendar year return of the decade. Many markets were at or near all-time highs. Fast-forward a quarter and 2020 is already the most volatile period in modern investing history.

03 Apr 2020

Uncertainty is the enemy – SA downgraded to junk status

A lot has been said in the media over the last few weeks regarding the possibility of whether South Africa (SA) would be downgraded to “junk status” by Moody’s and thereby be forced to exit the FTSE World Government Bond Index (WGBI).
02 Apr 2020

The impact of exiting the market when it experiences a serious decline

Given the recent volatility on the JSE due to the coronavirus pandemic, it may be very tempting for you, as an investor, to pull out of equities and switch to cash. The last few weeks have been tough for investors.

02 Apr 2020

What happens to your retirement savings if your company shuts its doors?

In the last week the Financial Services Conduct Authority (FSCA) warned that many distressed employers will default on their employees’ contributions to retirement funds, as a direct consequence of the COVID-19 pandemic’s negative impact on businesses and the economy.
02 Apr 2020

RMB: Partnerships now vital to keep SA’s business wheels turning

Banks, businesses, government, regulators and the broader financial services sector need to pull together like never before in a constructive partnership to help guide South Africa through what will be an extremely difficult economic period, the full scale of which is as yet unknown.

02 Apr 2020

Will government respond with the same vigour as Coronavirus after Moody’s downgrade?

The long-awaited downgrade by Moody’s of South Africa’s long-term foreign and local currency credit ratings from Baa3 to Ba1 came on Friday, 27 March and coincided with Day 1 of government’s national “lockdown”.

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