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Industry News

18 Apr 2018

Largest retirement industry conference on the continent to be held in SA in July 2018

In welcoming delegates from all over Africa to the 31st Institute of Retirement Funds Africa (IRFA) conference to be held at the Inkosi Albert Luthuli International Convention Centre, Durban from 29th-31st July, 2018. IRFA Vice-President Geraldine Fowler notes that speakers and subject matter experts will start collaborational conversations on  industry transformation, socio-economic development and societal...
18 Apr 2018

Uncertainty about investor protection affects Foreign Direct Investment into SA

South Africa’s government is juggling a lot of balls as it tries to find solutions to speed up land reform, while at the same time searching for a considered approach to assure local and international investors that their investment rights are protected.  A Joint Constitutional Review Committee has been mandated to review the merits of...
18 Apr 2018

Not necessary to amend Constitution to effect land reform: FMF

The Free Market Foundation (FMF) says it is “appalled and alarmed” that expropriation without compensation of property (EWC), probably South Africa’s most important constitutional debate since the 1996 formation of the Constitution, will have only 45 days for written submissions.
18 Apr 2018

New company set to disrupt SA transformation landscape

The question of how to put permanent and sustainable wealth back into the hands of ordinary black South Africans has troubled the country since the beginning of our democracy.
18 Apr 2018

PPS allocates R3.7 billion in profits to members in 2017

Built on the ethos of mutuality, PPS, a financial services company focused exclusively on graduate professionals, showed a strong performance in the 2017 financial year, allocating R3.7 billion in profits to its members. This is in addition to the R2.9 billion in total benefits paid.
18 Apr 2018

The Financial Planning Institute partners with the Hospice Palliative Care Association

The Financial Planning Institute (FPI) today, in celebration of Advanced Healthcare Planning Day, announced it has signed a Memorandum of Understanding (MOU) with the Hospice Palliative Care Association of South Africa (HPCA). The MOU seeks to reinforce FPI’s commitment to establish a close working relationship with HPCA to provide inter alia, financial planning education to...
17 Apr 2018

SA private pensions show strong growth over five years – BankservAfrica

Private pensions have grown from strength to strength over the last five years and, in some ways is outpacing take-home pay as can be seen in the Five-year Private Pensions Review for South Africa1, released by BankservAfrica and Economists.co.za today.
17 Apr 2018

SMEs - What You Need to Know About the VAT Rate Increase

For the first time in 25 years, South Africans were hit with a value-added tax (VAT) rate increase – from 14% to 15% – further increasing the cost of living for consumers and leaving them with less disposable income to support local small businesses.
17 Apr 2018

Sasfin and Saxo Capital Markets SA (SCMSA) management acquire SCMSA from Saxo Bank

Sasfin and Saxo Capital Markets SA (SCMSA) management have acquired SCMSA from Saxo Bank, subject to certain precedent conditions. This is a landmark transaction for all parties concerned and for Sasfin in particular, as it continues in its quest to become a meaningful player in the global fintech space through partnerships with other meaningful APIs....
17 Apr 2018

SARS’ clarity on understatement penalties and consequences for taxpayers

By Brigitte Zegwaard, Senior tax consultant, BDO. On 28 March 2018, SARS released a guide on understatement penalties (the SARS Guide). The SARS Guide is welcomed and provides practical guidance on how SARS determines the amount of the penalty to be imposed and the various factors it must consider when doing so. This is of...

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