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Industry News

02 Sep 2021

Discovery delivers strong operating performance during pandemic

Adrian Gore, Discovery Group Chief Executive, today presented the Group’s full-year results for the period ended 30 June 2021 to the analyst community. Discovery posted a strong operating performance across the all businesses, despite the ongoing challenge of the COVID-19 environment which manifested in a far higher COVID-19-related mortality in South Africa, compared to its second primary market in the United Kingdom.
02 Sep 2021

Turning values into value: A thematic approach to sustainable investing

Like investing itself, analysis of environmental, social & governance factors is often about recognising and managing risk, says Alastair Bishop, Fundamental Equity Head of Sustainable Core Investing at BlackRock. “You need only look at BP’s Macondo oil spill or Volkswagen’s emissions scandal to understand the impact ESG risks can have on a company’s share price,” he adds.
02 Sep 2021

Why disability insurance is for everyone

The pandemic has highlighted the financial vulnerability of people living in South Africa. Amidst a lagging vaccination programme and a resurgent third wave of infections, it is clear that the catchphrase ‘it won’t happen to me’ no longer carries the same confidence it once held.
02 Sep 2021

How urban living negatively impacts people’s health

South Africa is urbanising rapidly: 63% of South Africans are already living in urban areas. Stats indicate this will rise to 71% by 2030 and by 2050, eight in 10 people will be living in urban areas. While it is unavoidable that people migrate to cities for work, it does have a negative effect on people’s health.
02 Sep 2021

Why past performance is no guarantee of future performance

“Past performance is no guarantee of future performance,” has become an axiom of the investment industry. Yet too often, novice investors use positive returns in one financial year as a harbinger of anticipated growth for the next. The constant cycle of chasing past wins is a volatile one that does not account for a myriad of other factors, which influence investment outcomes.
02 Sep 2021

The withdrawal of the Green Paper is a welcome development

On 31 August the Minister of Social Development issued a notice to withdraw the Green Paper on Comprehensive Social Security and Retirement Reform (2021). We welcome this decision taken by government. We believe that the proposed National Social Security Fund is not the solution to address the range of social security challenges facing South Africa.

02 Sep 2021

FIA and Santam launch initiative to empower black intermediaries

The Financial Intermediaries Association of Southern Africa (FIA) and Santam have partnered to launch the FIA Transformation Initiative, a campaign focused on accelerating transformation in the South African intermediary space.
02 Sep 2021

Accessing retirement savings before retiring like stepping into quicksand

The recent announcement that the government is looking at ways to allow people to access their retirement savings in an emergency as from next year may have given many people hope that their financial woes are about to end.
01 Sep 2021

Green Paper on Social Security and Retirement Reforms withdrawn

The Department of Social Development announced last night that it had withdrawn the Green Paper on Comprehensive Social Security and Retirement Reforms. "The decision to withdraw the Green Paper which was Gazetted on 18 August 2021 in the Government Gazette No. 45006, volume No. 674, is to provide better clarity on some of the matters entailed in the paper," the department says.
01 Sep 2021

Absa PMI rebounds in August

The seasonally adjusted Absa Purchasing Managers’ Index (PMI) rebounded in August 2021 following a record single-month decline in July. The August PMI performed better than last month’s steep decline and rose to 57.9 points from a very low 43.5 points in July. In comparison, the PMI stood at 57.4 in June. A normalisation of demand and output for businesses affected by July’s looting and further boost from less strict lockdown restrictions meant that a recovery was always on the cards given that the survey tracks month-on-month movements in business conditions.

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