27 Nov 2012

Finance & Insurance

 

Let's support the little guy

Not only large corporates need to engage in CSI / CSR, says MD of PR Worx, Madelain Roscher, SMEs need to get involved as well. According to Roscher, companies will see benefits in terms of brand recognition, increased sales, return on investment (ROI), tax benefits, and, most importantly, fostering trust with employees and the general public - all that while contributing to a greater good... What are you waiting for?!

Remember the ladies in orange at the 2010 FIFA World Cup who were accused of ambushing marketing for Bavaria? Well, Trade and Industry Minister Rob Davies has warned that he'll be having none of that during AFCON 2013. Davies plans to designate the sporting event as a "protected event" to ensure stringent advertising laws are enforced.

Former MTN CEO Phuthuma Nhleko is a wanted man - wanted by Anglo American that is, to take the helm. While chairman John Parker sings his praises, a London-based mining analyst doesn't believe him to be the right man for the job, citing lack of operational mining experience.

It's not often that the big guy lends a helping hand to the little start-up, but here's a little heart-warmer for you; as part of its Enterprise Development Initiative, Cape Town's Protea Hotel Victoria Junction has signed a "twinning" agreement with a local guest house in Thornton. In order to help the guest house owner, Khanyisa Balfour, put her best foot forward and realise her life-long ambition, the Protea Hotel Victoria Junction management team will provide expertise and training to the guest house owner.

Let's all put our best foot forward into what's left of 2012!

Sindy Peters: Group Head, Content

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Top stories


Editorial news

Finance & Insurance


Compli-Serve offers online FICA training
An online Financial Intelligence Centre Act (FICA) awareness training and testing facility has been developed for all categories of financial services provider by Compli-Serve, which offers professional compliance support and services to financial professionals. Read more >>

New taxi rank opened at Eastgate Shopping Centre
Liberty Properties officially opened its new taxi rank following an investment of approximately R7 million at Eastgate Shopping Centre in Johannesburg. The relocated, upgraded rank will function as a key commuter hub for the broader eastern suburbs of Johannesburg. Read more >>

Businesses cautioned about fraud during festive season
With the festive season drawing nearer, Coface South Africa, the international credit insurer, has cautioned its clients about the dangers of fraud and specifically white collar crime in the December to January period. Read more >>

Be realistic about investment returns
[David Crosoer] The global economic environment remains troubled. In its latest World Economic Outlook Report, the International Monetary Fund (IMF) cut its expected global growth forecast from 3.5% to 3% for 2012 and highlighted a number of downside risks to the global economy. In the US, Ben Bernanke committed the US to a further round of quantitative easing in September (QE3) and committed to keep short-term interest rates at record lows until mid-2015. Read more >>

Insurance


Ways to reduce insurance premiums
[Alf James] Many consumers may unknowingly be paying more than they should for their car insurance - often one of their biggest short-term insurance payments - due to a failure to assess the value of their vehicle when it comes time for annual insurance policy renewals. Read more >>

Old Mutual moves in on Latin America
[Sure Kamhunga] Old Mutual's purchase of Uruguayan-based financial services group Aiva Business Partners gives the global insurer a foothold in a potentially lucrative market in Latin America, analysts at SBG Securities say. Read more >>

Discovery apologises for 'wrong' rules
[Tamar Kahn] South Africa's biggest medical scheme, Discovery Health, on Wednesday (21 November) apologised for misleading its 2.4m members about the requirements for convening a special general meeting, saying the rules on its website, which contain more stringent requirements than those actually registered with the Council for Medical Schemes, had been put there by mistake. Read more >>

AIG launches Aerospace Division
With the appointment of Shaun Scandling as its head, AIG has launched an Aerospace Division. The new division will focus on providing coverage for general aviation risks and will market airport and repairer liability products not previously available in the local market. Read more >>

Banking


Global Mobile Consumer Survey shows increase in mobile banking
MEF, the global community for mobile content and commerce announced the results of its annual Global Consumer Survey, carried out in partnership with On Device Research that reveals the behaviour of mobile media users from across the world, giving data and intelligence into mobile engagement and purchasing habits. Read more >>

Vodacom confident m-pesa will grow
Vodacom wants to grow its m-pesa mobile money service in South Africa as user numbers remain well below expectations despite having passed the million mark for the first time. Read more >>

Absa to launch first app next year
[Sure Kamhunga] Absa plans to will launch its first banking application early next year and this week laid out its vision of using innovation as a means to grow and defend market share. Read more >>

Credit services


Time your new car purchase
[Alf James] If you are in the market for a new car right now, think carefully about when you drive it off the dealer floor. Read more >>

ABIL wants to retain banking customers
[Phakamisa Ndzamela] African Bank Investments Limited (Abil) chief executive Leon Kirkinis says the micro-lending bank and furniture retailer will work on retaining and increasing its banking customer base in 2013. Read more >>

Credit record management, simply a question of education
[Gunther Deutsch] The number of consumers with impaired credit records has recently jumped to an all-time high. This has led to an agreement among banks and the government to tighten the rules around lending. Undoubtedly, this means that it will become ever more difficult to obtain credit, especially when your credit record has a blemish on it. Read more >>

Finance, accounting & banking


91% support for Lonmin's balance recovery
According to mineWeb, shareholders in South African platinum miner Lonmin voted in favour of an $817m rights issue to repair the platinum miner's strike-battered balance sheet and fund its recovery. Read more >>

Financial services


Repo rate unchanged at 5%
The repo rate is to remain unchanged at 5%, Reserve Bank Governor Gill Marcus said on Thursday following the Monetary Policy Committee's last meeting of the year. Read more >>

Fraud down in Africa says KPMG
[Sure Kamhunga] The number of fraud cases in Africa fell marginally to 503 in the second half of this year compared with 520 in the same period last year as governments take sterner action to combat corruption‚ KPMG said on Wednesday (21 November) in its latest Africa fraud barometer. Read more >>

Higher education


USB launches new degree to help unlock investment opportunities in Africa
According to recent reports, the issuing of bonds in Africa is on the rise to help countries on the continent finance their infrastructure spending. Financing infrastructure projects in the energy, roads and railways and social sectors, was the key reason behind three most recent issuances by Zambia, Namibia and Senegal. Read more >>

Investment management


SABMiller shares up as profits rise
[Zeenat Moorad] Shares in SABMiller rose by almost 8% to R403.60 on Thursday (22 November) after the group reported a 15% increase in net profit to US$1.6bn for the six months to September. Read more >>

Investment in property yields satisfactory return - Rawson Properties
Regular media surveys on the residential property sector in South Africa frequently compare the returns on property with those of other asset classes - particularly the JSE Securities Exchange - and this often reflects poorly on the performance of property. Read more >>

Primary & secondary education


Hoërskool Eldoraigne wins Smart Young Mindz 2012 competition
Hoërskool Eldoraigne in Pretoria was named as the overall winner in the Smart Young Mindz (SYM) competition out of 6 800 entries at the expo and prize giving on Friday, 16 November. The Grade 8 - 10 learners created a greenhouse out of recycled materials. Read more >>

Taxation


Tax refund an opportunity to start saving - acsis
With the tax return deadline looming, many consumers are now frantically submitting tax returns with the hope of receiving a tax refund from SARS. According to Jason Garner, management consultant at acsis, South Africans lucky enough to receive tax refunds should look to immediately reinvest the money or use this as an opportunity to settle some debt, before the festive season spending spree starts. Read more >>


Company news

Banking


Mobile Banking SA Conference to address untapped opportunities outside the formal banking sector - Trade Conferences International
The Mobile Banking Southern Africa Conference taking place 13-14 March 2013 in Johannesburg will focus on why financial institutions cannot afford to lag behind with development of mobile banking products that service over 27% of South Africans that are unbanked and the 10% that are under-banked. Read more >>


People on the move
  • Daniel Botha appointed as an Audit Partner at BDO SA - more info


Jobs offered
Accountant - Full Costs - Stellenbosch
Stellenbosch University invites applications from suitably qualified and experienced individuals for appointment as accountant - full costs, to commence duties on 1 January 2013. Read more >>

Financial Manager - Johannesburg - Northern Suburb
Read more >>

Senior Accountant - Johannesburg - Northern Suburb
Read more >>


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