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 […]
Staying vigilant could save you from becoming a victim of crime
South Africans have been experiencing a spate of criminal activity over many years. However, over the past couple of months, there has been a marked increase in unfamiliar and novel crimes such as car jamming and a new trend called “apple picking”, which sees criminals target iPhone users in parking lots and restaurants. However, besides […]
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. […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
What’s holding millennial’s back from reaching financial freedom
Better educated, tech-savvy and optimistic millennials – South Africans born between 1982 and 2000 – are more likely to seek financial independence and personal fulfillment, compared to older generations. This is according to Elize Botha, Managing Director of Old Mutual Unit Trusts, who revealed the findings of a survey commissioned by the company at an […]
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Government responds to rating action of S&P
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SA foreign & local currency ratings affirmed at ‘BB’ and ‘BB+’, outlook stable
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PSG names its best financial professionals at 20th annual awards ceremony
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The 2018 i3 Summit sketches a future-fit financial world
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The EU’s data protection regulations and South African business
