Category

Finance
Solid growth of 5% in financial assets The gross financial assets of South African households rose by 5.0% in 2020. The main driver were bank deposits which rose by 11.3%, the fastest increase in six years. Insurance and pension fund assets, on the other hand, which are by far the most popular asset class in...
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08 July 2021: FNB plans to grow its investment in local communities by opening an additional 50 new community branches by 2023. The Bank says this is part of its efforts to be accessible to its Retail and Commercial customers across the country. The community branches will be between 70 – 90m2 in size. The...
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The G7 DFIs, the IFC, the private sector arm of the African Development Bank, EBRD and the European Investment Bank today announced that they were committed to investing $80 billion in the private sector over the next five years to support sustainable economic recovery and growth in Africa.   The Covid-19 pandemic has caused a...
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Claire Bisseker writes The good news, in the budget announced by finance minister Tito Mboweni this week, is the National Treasury’s surprise move — enabled by a lucky R100bn revenue overrun — to reduce the corporate income tax (CIT) rate to 27% and scrap R40bn in intended tax hikes over the medium term.   It’s...
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Bank on the Global SME bank of the year! 04 January 2021: FNB’s market-leading approach to providing helpful and contextual financial solutions to support business customers has been recognised through the accolade of Global SME Bank of The Year at the Global SME Finance Awards Ceremony late in 2020. Managed by the IFC, the SME...
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More than 17 000 employees of small businesses will receive financial support  11 May 2020 – FNB has received an overwhelming number of applications for SAFT funding support from business clients that were impacted by COVID-19. The South African Future Trust (SAFT) fund was established by the Oppenheimer family to provide financial support to the employees...
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Breaking Borders: South African Chartered Accountants & U.S. CPAs to Benefit from Mutual Recognition Agreement February 6, 2020: The South African Institute of Chartered Accountants (SAICA), the American Institute of CPAs (AICPA) and the National Association of State Boards of Accountancy (NASBA) have signed a mutual recognition agreement (MRA) that came into effect on January 15,...
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by Steuart Pennington Every year the World Economic Forum publishers the Global Competitiveness Index of 140 countries which essentially ranks countries in terms of their competitiveness as an investment destination. It has always been considered that the top 60 countries form the Premier League, the next 80 countries the Second League, and below that ‘failed’...
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By Alec Hogg My twice a year investment roadshow ended in Durban last night on a familiar theme – referencing Daniel Kahneman’s research that shows we are nine times more likely to focus on bad news than good. I’m hoping many in the audience will acquire their own copies of the Nobel prizewinner’s masterful Thinking,...
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Twenty years ago, then 39-year-old Tito Mboweni moved from Labour Minister to Governor-in-Waiting at the SA Reserve Bank. I criticised the appointment rather publicly, opining it was foolish to allow a politician to run a country’s interest rate policy. Mboweni went on to prove me spectacularly wrong. Despite or perhaps because of his political cred,...
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Steuart as a Speaker

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Steuart has done some 500 talks on South Africa's progress since 1994 and SA's prospects for the future'