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Industry News

28 Jun 2019

African Phoenix to sell Stangen to King Price

African Phoenix Investments Limited today announced the signing of an agreement to sell its interest in The Standard General Insurance Company Limited, a niche life insurer that provides a range of insurance products designed for individuals and community groups across the assistance (funeral), disability, health and life insurance sectors. African Phoenix will dispose of 100%...
28 Jun 2019

The tax benefits of charitable giving

Non-profit organisations (NPOs) in South Africa are governed by the Non-Profit Organisations Act (NPO Act). According to the Act, an NPO is defined as either a trust, company or other association of people established to serve a public purpose – essentially, those in need.
28 Jun 2019

Intellidex Awards Announce SA’s Top Private Banks And Wealth Managers

The 2019 Intellidex Top Private Banks and Wealth Managers Awards, held in Johannesburg on Tuesday 25 June, has established itself as SA’s leading assessment of the industry. Private Client Holdings put in a stellar performance in its first year of entry, taking second position overall in the Top Wealth Manager Boutiques in South Africa.
28 Jun 2019

FSCA appoints new Divisional Executive for Conduct of Business Supervision

FSCA commissioner, Mr Abel Sithole has appointed Ms. Kedibone Dikokwe as the Divisional Executive: Conduct of Business Supervision, effective from 1 July 2019. This is the division that supervises the way financial institutions interact with their customers.
27 Jun 2019

Worker remuneration growth falls to record low in 2018

The South African Reserve Bank (SARB) released its latest Quarterly Bulletin (available here) on June 27. The document reported that growth in remuneration paid to workers in the private and public sector declined from 5.5% year-on-year (y-o-y) in the third quarter of 2018 to 4.6% y-o-y in the fourth quarter. This resulted in nominal remuneration...
27 Jun 2019

Sanlam-Dutch venture to combat climate change tops expectations, closes at $850m

Cooperatief Climate Fund Managers U.A. (CFM) is proud to announce the final close of Climate Investor One’s Stichting Development Fund and Cooperatief Construction Equity Fund U.A. at a combined USD 850 million. Climate Fund Managers is a joint venture between Sanlam InfraWorks and the Dutch Development Bank FMO and invests in climate-related projects in emerging...
27 Jun 2019

Discovery ready to scale up its behavioural retail bank

Financial services group Discovery Limited today announced that Discovery Bank had successfully completed its early onboarding period and is now ready to scale up in a phased way.
27 Jun 2019

Discovery Place wins at SAPOA Innovative Excellence Awards

Discovery Place, the new high-performance global headquarters developed for Discovery in a joint venture of two of South Africa’s leading property companies, Growthpoint Properties and Zenprop Property Holdings, is the overall winner of the prestigious South African Property Owners Association (SAPOA) Awards 2019.
27 Jun 2019

Good groundwork for short-term insurance

By Bertus Visser, Chief Executive of Distribution at PSG Insure. Having adequate short-term insurance cover is an important part of ensuring that your younger loved ones are well taken care of. When they leave home, preparing your older child (or perhaps a younger sibling, or friend) for the adult world ahead will help them make sensible...
27 Jun 2019

Deputy Governor Daniel Mminele retires from the SARB

The South African Reserve Bank (SARB) announced today that Deputy Governor Daniel Mminele will be retiring from the service of the SARB when his second five year term as Deputy Governor expires on 30 June 2019.

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