Planning Topics
The average nominal take-home pay, declined again by 7.5% in January this year to R14 305, compared to the same period last year, according to the BankservAfrica Take-home Pay Index (BTPI).The African automated payments clearing house, which compiled, the index said yesterday that the economic…
According to the Momentum Unisa Household Financial Wellness Index, close to 70% of financially distressed households find it challenging to pay monthly expenses and pay bills. However, financially well households are also finding it difficult to cover their expenses. The ability of South Africans…
The cost of the average household food basket increased by R572.64 or 13.1% more from R4 355.70 February last year to R4 928.34 February this year, according to the February 2023 Household Affordability Index.This is according the Pietermaritzburg Economic Justice & Dignity Group (PMBEJD), a…
Durban - Two KwaZulu-Natal businessmen have accused the supermarket group Spar of “using them” as fronts to benefit from BBBEE funding. Nhlanhla Makhanya and Sfiso Ngwenya, who own a Spar store in Vryheid, northern KZN, are at loggerheads with Spar Group which seeks to recover millions from them…
The South African hedge fund industry grew its assets by an unprecedented 30% last year to end the year with R113.01 billion under management from R86.93bn at the end of 2021.Speaking at annual hedge fund statistics released by the Association for Savings and Investment South Africa (Asisa)…
By Claire KlassenYou might have heard of the ‘love languages’, referring to the different ways that people show – and in turn – want to experience love.Want sweet-somethings whispered in your ear? Words of affirmation are your love language. Or perhaps you’re a self-proclaimed cuddler, who gets the…
Durban - South African political parties have lamented South Africa being placed under increased monitoring by the global anti-money laundering and terrorism financing watchdog, the Financial Action Task Force. On Wednesday, while delivering his Budget speech, Finance Minister Enoch Godongwana said…
Durban - South Africa is perceived globally as an easy target for financial crimes including money laundering due to the country having porous financial impropriety protection systems. This saw the Financial Action Task Force (FAFT) placing SA under increased monitoring or greylisting on Friday.…
Work can and should be a reliable route out of poverty. However, for a growing number of South Africans that is no longer the reality as increasing factors are beginning to have a significant negative impact on their pockets.Following an increase in interest rates and the cost of petrol and food as…
Durban - The Financial Action Task Force (FATF) has put South Africa to the moved to grey list, placing the country under increased monitoring, counter money laundering, terrorist financing, and proliferation financing, following the sitting of its International Cooperation Review Group plenary.On…
Skiing and yachting are just some of the activities that are available to the kids that attend the most expensive and exclusive boarding schools in the world, according to the 2022 Centi-millionaire report.The report, which is a collaboration between wealth intelligence firm New World Wealth and…
In the tough financial times that South Africans are facing, it is important that people start saving towards an emergency fund which can be useful in a financial crisis.An emergency fund will allow people to be prepared for unforeseen circumstances or unfortunate events rather than letting them…
South Africa’s National Treasury said on Friday that it expected increased monitoring by the Financial Action Task Force (FATF), a global financial crime watchdog, to have a limited impact on financial stability and costs of doing business with South Africa.This comes as the FATF labelled South…
By Michele SantangeloIt has been 22 years since Eskom was awarded the prestigious Power Company of the Year in the Financial Times’s annual Global Energy Awards. This award was for technical excellence in plant production, maintenance and operation while producing some of the cheapest electricity…
The perks of a tax-free investment make it a no-brainer, but you can maximise its value if you are strategic about managing it. With the tax year ending on 28 February 2023, now is the time to invest and maximise your benefits.The most obvious perk of a tax-free investment is that you don’t pay any…
International financial crime watchdog the Financial Action Task Force (FATF) on Friday said it was adding South Africa and Nigeria to its so-called "grey list" of countries under special scrutiny to implement standards to prevent money laundering and terrorism financing.The FATF is an inter-…
By John ManyikeSouth Africans may be breathing a sigh of relief following yesterday’s Budget and the news that they can look forward to tax breaks for installing solar panels, no increases to the fuel levy and Road Accident Fund and that social grants are to be increased. But, cautions, for most…
The Financial Advisory and Intermediary Services (FAIS) ombud is urging consumers to exercise caution when investing in cryptocurrency. With the increasing digitisation of the world and the growing popularity of these innovative financial instruments in South Africa and worldwide, consumers may be…
WORDS ON WEALTHThe Advertising Regulatory Board recently introduced a section in its Code of Advertising Practice on the marketing of crypto assets. Strangely, the code does not have much to say on the marketing of regular financial products, but the section on crypto is quite detailed. It reflects…
Mauritius is currently one of the least expensive options for South Africans seeking to obtain permanent residence by investment in another country – and if the European Commission has its way, the country may soon be one of only a handful left where they can do so at all.So says Philippe de Beer,…