MoneyMarketing

Industry News

28 May 2018

'S&P decision broadly expected'

It is Moody’s Rating Agency’s next assessment of South Africa – not Standard & Poor’s -that holds the key to the country’s continued avoidance of universal junk status.  This is according to NWU School of Business Economist, Professor Raymond Parsons. ‘The decision by ratings agency Standard and Poor Global Ratings on Friday to leave South...
26 May 2018

Government responds to rating action of S&P 

The South African government says it notes S&P’s decision to affirm South Africa’s long term foreign and local currency debt ratings at ‘BB’ and ‘BB+’ respectively, and to maintain the stable outlook. According to S&P, the rating affirmation is underpinned by the following drivers: “Despite upward revisions, South Africa’s economic growth remains tentative, and the...
26 May 2018

SA foreign & local currency ratings affirmed at 'BB' and 'BB+', outlook stable

Last night S&P Global Ratings affirmed its ‘BB/B’ long- and short-term foreign currency sovereign credit ratings and its ‘BB+/B’ long- and short-term local currency sovereign credit ratings on South Africa. The outlook is stable. The Transfer and Convertibility (T&C) assessment is ‘BBB-‘. S&P also affirmed the ‘zaAA+/zaA-1+’ long- and short-term South Africa national scale ratings.  ...
25 May 2018

PSG names its best financial professionals at 20th annual awards ceremony

PSG Konsult, the JSE-listed financial services firm, recognised its top financial practitioners for 2017/18 at the firm’s 20th annual conference, held at Sun City in May.  “Celebrating our 20th annual conference is a significant milestone for our business and the winners are really top performers in their field,” said Dan Hugo, CE of Distribution at...
25 May 2018

The 2018 i3 Summit sketches a future-fit financial world

‘A future to thrive in’ was the theme of the 2018 i3 Summit, hosted by Sanlam Investments and Glacier by Sanlam. Spier Wine Farm hosted the Cape Town event on 22 May, while the Johannesburg event took place at the Sandton Convention Centre on 24 May 2018. In total, more than 600 delegates attended the...
25 May 2018

The EU’s data protection regulations and South African business

By Kerri Crawford (SA) and Adriaan Louw of Norton Rose Fulbright. Today, the EU’s new General Data Protection Regulation (GDPR) came into force. While the regulations are aimed at protecting EU citizens and residents, its reach will be global and will impact on certain businesses operating in South Africa. The GDPR replaces the Data Protection Directive and...
25 May 2018

What do rates being on hold mean for your investments?

By Chantal Marx: FNB Wealth and Investments, Head of Research.  The SARB MPC has decided to keep rates on hold for now, in-line with our expectations. The Governor did take on a more hawkish tone, as expected, but it was far less hawkish than we anticipated. While he conceded that the balance of risks to...
24 May 2018

Reserve Bank keeps repo rate unchanged

Following the South African Reserve Bank (SARB)’s decision earlier today to keep interest rates unchanged, FNB confirms that it will maintain its prime lending rate at 10% and will review its position following the next SARB MPC meeting in July. Says FNB CEO Jacques Celliers: “Faced with the possibility of sharp increases in fuel prices...
24 May 2018

Understanding the effect of GDPR on PoPI

A member of the Information Regulator will be presenting a paper to help shed light on the requirement of Protection of Personal Information Act 2013 (PoPI) and General Data Protection Regulation (GDPR). Mr. Sizwe Snail ka Mtuze, a member of the Information Regulator, will help business owners understand how European law will affect South African...
24 May 2018

ASISA: A tough first quarter for local collective investment schemes

The local Collective Investment Schemes (CIS) industry reported a 3.2% drop in assets under management for the first quarter of this year as a result of difficult market conditions and subdued net inflows on the back of bruised investor sentiment. According to the CIS industry statistics for the quarter and year ended March 2018, released...

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