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Industry News

26 Mar 2018

Bonitas: Success in the fight against fraud, waste and abuse

‘ Fraud, waste and abuse (FWA) in the healthcare industry is one of the main drivers of healthcare inflation and increased costs,’ says Kenneth Marion, Chief Operating Officer of Bonitas Medical Fund. ‘It’s a key focus area for us and we’re pleased to report that we’ve made great strides in the fight against fraud, waste...
26 Mar 2018

SARB MPC expected to announce 25 basis point reduction in repo rate

By John Loos, Household and Property Sector Strategist, FNB. Our Firstrand expectation is for a 25 basis point interest rate cut in the SARB’s Repo Rate, when its Monetary Policy Committee (MPC) meeting concludes on Wednesday. Should this happen, it would lower the Repo Rate to 6.5%, and the Prime Lending Rate of banks to 10%....
26 Mar 2018

Naspers reduces its stake in Tencent, a credit positive

By Moody’s Investors Service On Friday, Naspers Limited (Baa3 stable) announced that it had reduced its stake in Tencent Holdings Limited (A1 stable) to 31.2% from 33.2% for proceeds of $9.8 billion through an accelerated offering to investors. The disposal is credit positive for Naspers because it strengthens the company’s balance sheet to fund a scaling...
26 Mar 2018

Effects Of Trump Tariffs Remain Limited For Now, But Could Escalate If China Retaliates: Report

NEW YORK (S&P Global Ratings) President Trump’s long-threatened package of trade sanctions on China has landedbut a trade war isn’t yet inevitable. In general, the threatened tariffs and investment restrictions on China won’t likely cause deep pain to the Chinese economy, nor will they have a material impact on corporate borrowers in either country. However, S&P...
26 Mar 2018

Alexander Forbes partners with black-owned healthcare consultancy firm

Alexander Forbes has partnered with a 100% black-owned healthcare consultancy firm to provide sub-contracting consulting work with an initial value of R12-million.
26 Mar 2018

FAIS Act and Twin Peaks cost billions and add nothing: FMF

  The Financial Advisory and Intermediary Services (FAIS) Act, effective in 2004, was supposed to be a significant advance in protecting unsuspecting consumers from ‘rogues’ in the Financial Services sector who were ‘mis-selling’ unsuitable insurance policies and causing a high lapse rate (when a policy is not renewed or is discontinued), the Free Market Foundation...
26 Mar 2018

Financial planning key to narrowing SA gender gap

According to the World Economic Forum’s 2017 Global Gender Gap Report, South Africa features among the top 20 of 144 countries in terms of gender equality. Worryingly, however, the country is ranked at just 89 for economic participation and opportunity, and a shocking 114 for wage equality for work performed in similar positions. Advocating that...
26 Mar 2018

Civil confidence at record low in Q1

After gaining 4 points in 4Q2017, the FNB/BER Civil Confidence Index fell to a record low of 12 in 1Q2018.
24 Mar 2018

Moody’s decision a vote of confidence in South Africa, says Nedbank CE Mike Brown

The announcement late last night by global credit rating agency Moody’s Investor Services affirming South Africa’s long-term investment grade and upgrading its outlook from negative to stable is a vote of confidence in the progress we have made as a country since late last year. After placing South Africa on a 90-day review for a...
24 Mar 2018

Good news from Moody's

By Stanlib Chief Economist, Kevin Lings. Global ratings agency Moody’s Investor Services, left South Africa’s international long-term credit rating unchanged at Baa3 on Friday night. Moody’s also changed the ratings outlook from negative to stable, ending the review for downgrade that started in November 2017. This decision reflects Moody’s view that “the previous weakening of South...

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