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Industry News

23 Jul 2018

Bestmed Medical Scheme named as HR Future Technology Champion 2018

  Bestmed has been named as the 2018 HR Future Technology Champion for the use of their HR Specific Technology to maximum effect. The announcement was made at the award ceremony preceding a two-day summit at The Capital Park in Johannesburg last Thursday evening. The victory comes after the medical scheme was named as finalist...
23 Jul 2018

Giving your child a quality education requires dedicated saving

Given the ever-soaring costs of tertiary education that have recently been widely publicised, parents need to consider this inevitability and should be prepared to budget for the pre-funding of future school education, as this expenditure continues to meaningfully erode the monthly income of an increasing number of South African households.
23 Jul 2018

Investors in unit trusts could expect more taxes

In the recently published draft Taxation Laws Amendment Bill (draft TLAB), Treasury appears to have taken a tough and inflexible stance in addressing the ongoing industry debate on the income tax treatment of disposal of assets within a Collective Investment Scheme (CIS) – commonly known as a unit trust. Unfortunately, it now seems as though...
23 Jul 2018

Estate Planning: Death and Marriage go together like a horse and carriage

For most people the words “death” and “marriage” do not belong together in the same conversation. The last thing on people’s minds when they get married and enter into an ante-nuptial contract is death – the focus is usually around possible divorce. Likewise, when planning the affairs around our demise, very few of us would...
20 Jul 2018

Withdrawal of the Financial Planning Institute (FPI) as a recognised examination body

The FSCA confirms that the recognition of the Financial Planning Institute (FPI) as an examination body will be withdrawn. The process of transferring all examination data, records and archives over from the FPI to the FSCA will be completed by November 2018. The FPI will continue to provide the following support function until all examination...
20 Jul 2018

Fighting fire by managing risk

Property and business interruption losses as a result of wildfire have increased dramatically in South Africa. Managing fire risk is every property owner’s responsibility as experts warn that the world is becoming warmer and drier, increasing the chances of unwanted wildfire.
20 Jul 2018

FSCA Commissioner appoints Divisional Executives

The Financial Sector Conduct Authority (FSCA) is pleased to announce that some of the key executive positions have been filled, it said in a statement today. In terms of section (62) (1)(a) of the Financial Sector Regulation Act (FSRA), Mr. Abel Moffat Sithole, as the Commissioner of the FSCA has appointed the following individuals on...
20 Jul 2018

Ecsponent secures US$5 million in international funding from Norsad Finance

JSE-listed Ecsponent Limited today announced that it has secured an international funding facility for US$5 million (R67- million) from Norsad Finance Limited at market-related terms. Ecsponent’s Investment Services business unit has raised R1.47 billion through its listed preference share programme between September 2014 and 31 March 2018. This capitalhas been deployed successfully and contributed to...
19 Jul 2018

MPC's reduced growth forecast sends 'troubling' message

By NWU Business School Economist, Professor Raymond Parsons. The widely-expected and right decision today by the Monetary Policy Committee (MPC) of the SA Reserve Bank to leave interest rates unchanged will be welcomed by business and consumers. Interest rates should be kept stable in South Africa for as long as possible, given the weak economy....
19 Jul 2018

Rand facing headwinds as rates kept on hold

By Bianca Botes, Corporate Treasury Manager at Peregrine Treasury Solutions. Following the announcement by the MPC to keep interest rates unchanged, the rand has shown little reaction, however there are a few key elements that can see the rand come under pressure as the market digests the comments by the Governor. A downward adjustment in...

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