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Finance & Insurance

Weekly top stories


New R5 coin introduced to celebrate democracy
The South African Reserve Bank (SARB) will issue a commemorative circulation R5 coin celebrating 20 Years of Democracy in South Africa. Read more >>


Actuarial & Insurance
Forty percent of insurance apps could be abandoned
Developing customer-facing mobile applications remains the third most important technology priority for insurers. Read more >>

Should African insurers review their mobile strategies?
Developing customer-facing mobile applications remains the third most important technology priority for insurers. Rhys Collins, Head of African Operations for SSP, says in Africa this would be second or first... Read more >>

MTN joins forces with Hollard to innovate in insurance

Issued by Hollard Insurance

Hollard Life Zambia has partnered with MTN Zambia to bring an innovative new insurance product to the Zambian market, building on both groups' reputations for customer-focused innovation. Read more >>

Banking
Bank on change in Africa

Cobus van Zyl

I have been part of the 'banked' segment of civilization since I was five years old. I have tried it all, from savings to home-loans, vehicle finance to credit card... Read more >>

SnapScan useful for convenience purchases
Using cellphones to make purchases at markets, restaurants and convenience stores is growing in popularity, particularly through SnapScan. Read more >>

FNB customers can now transfer money to Mozambique
FNB has announced the introduction of a new service which will enables qualifying FNB customers in South Africa to send money to residents in Mozambique instantly, through its Cellphone and Online Banking channels. Read more >>

Lindiwe Zulu has big job to create jobs
Analysts expect at least 90% of the jobs to be created by 2030 as outlined in the National Development Plan will come from small and medium-size enterprises. Read more >>

Financial Services
JSE investigates Aspen trading activity last week

Evan Pickworth

The JSE said it is investigating trading activity in pharmaceutical stock Aspen, which took place ahead of last week's investor conference call and led to a major dip in the share price. Read more >>

Banking on the future

Issued by Bankmed

How does a medical scheme that has just celebrated its 100th birthday continually remain relevant to its members? By using the past to predict, plan and strategise for the future. Read more >>

Absa launches Payment Pebble customer service
Absa has announced the launch of the Payment Pebble, a small plug-in device that turns most smartphones completely into mobile card machines. Read more >>

Hewitt wins FPI's Financial Planner of the Year award
Peter Hewitt, founder of Efficient Advise, has been named the 2014 Financial Planner of the Year by the Financial Planning Institute of Southern Africa (FPI). Read more >>

A healthy 100 years old

Issued by Bankmed

Bankmed, the closed medical scheme that services the banking sector, has achieved a significant milestone in the South African market - the celebration of 100 years of looking to their members' health. Read more >>

Pension funds may finance public infrastructure

Carol Paton

South African asset managers are turning to infrastructure investments as pension funds at last develop an appetite for funding public infrastructure. Read more >>

Young leaders to address local challenges at international summit
Financial services provider PPS has launched a competition that will enable four South African university students to address local challenges at the One Young World Summit 2014 to take place in Dublin, Ireland from 15 to 18 October. Read more >>

Dines Gihwala quits as Fidentia curator

Evan Pickworth

The curator of the embattled financial services business Fidentia, Dines Gihwala unexpectedly quit at a time when Fidentia boss J Arthur Brown still faces the prospect of a heavier sentence in a pending appeal by the National Prosecuting Authority. Read more >>

First time home buyers remain key driver in current market
South African bond originator, ooba has released their monthly 'oobarometer' that details the trends and average bond statistics for the month of May. Read more >>

Sanlam reorganises external brand architecture
Sanlam has announced the restructuring of its external brand architecture to help create one strong Sanlam identity and to simplify the group's offering for advisors, clients and prospective clients. Read more >>

[Money Matters] Taking your money offshore?

Graham Turnbull

This is the second in a series of Q&As aimed at providing guidance to you in your personal finance issues. Read more >>

Top public finance management programme comes to SA

Issued by UCT Graduate School of Business

In the wake of SA's credit downgrading, former Harvard professor, Stephen Petersen, will be sharing best practice on public finance management at Africa's top business school this November. Read more >>

Markets & Investment
Deadlines missed but retirement debate continues

Evan Pickworth

The Treasury published its 2014 budget update on retirement reforms on 14 March but the deadline for the first two policy documents has been missed‚ as a rigorous consultation phase within the industry continues. Read more >>

Marriott sees SA's hospitality growing

Nick Hedley

Global hotel chain Marriott International - which has entered the South African market via a buyout of Protea - expects strong long-term demand growth in the domestic tourism and hospitality sector. Read more >>

Aspen says management comments taken "out of context"
Aspen Pharmacare is attempting to eliminate uncertainty regarding its second-half earnings by saying certain comments made by its management team at a conference call last week were misconstrued and taken out of context. Read more >>

Safari expects portfolio to double in value

Nick Hedley

Recently listed township mall owner Safari Investments (SAR) expects additions to its portfolio to more than double its asset base to R3bn within three or four years. Read more >>

FDI in Africa shows steady increase
Africa continues to be a bright spot on the global foreign direct investment (FDI) landscape, even as investment into industrialised economies continues to struggle. Read more >>

UDDI focuses on economic growth and investment
The Uitenhage-Despatch Development Initiative (UDDI) has recently undergone a comprehensive organisational and strategy review process that should rekindle public confidence in the institution which is aimed at positioning the agency as a leader in socio-economic development. Read more >>

Cape Town voted one of the top relocation cities
Research carried out by deVere Group indicates that 15% of its UK-based clients under the age of 35 claimed that Cape Town would be their number one choice for relocation if they were to leave the UK. Read more >>

Diversification should switch the entrepreneurial lights on!

Jose Capelo

Diversification - one of the words you hear occasionally and then maybe casually dismiss because it doesn't mean too much especially if you're struggling single-mindedly to make your business idea work. But hold on... Read more >>

Rebosis is not rushing to buy 100% of Ascension

Nick Hedley and Alistair Anderson

Rebosis Property Fund - which now owns 32% of Ascension Properties in addition to Ascension's management company - is in "no rush" to takeover of the company after a three-way merger collapsed. Read more >>

Local property vs investing abroad
Notions that the rand currency is going to plummet need not result in you rushing headlong into property investments abroad. Read more >>

Three-way BEE merger dumped

Alistair Anderson

The merger of the broad-based black economic empowerment (BBBEE) funds property groups‚ Delta Property Fund and Rebosis Property Fund has been called off‚ with the companies citing bad timing as the issue. Read more >>

Medical aid membership growing
Growth in membership of the Government Employees Medical Scheme (Gems) has led to a notable increase in medical aid membership generally. Read more >>

Hefty duties imposed on imported soda ash

Amanda Visser

The International Trade Administration Commission (Itac) has imposed duties of between 8% and 40% on all imports of soda ash from the US into the South African Customs Union (Sacu). Read more >>

Accelerate's performance outstrips forecast
Retail-focused Accelerate Property Fund, whose flagship property is Johannesburg's R2bn Fourways Mall, has released its maiden results for the year to March ahead of its pre-listing forecast. Read more >>

Managing success(ion) in your business

Issued by Meredith Harington

The reality is that less than one third of owner managed businesses make it to the second generation and only 10% survive to the third generation. With that in mind, what are the things you should be thinking about right now, with an eye to the future? Read more >>

Taxation & Regulation
Impact of fiscal amendments on taxation of risk policies

Emil Brincker

The National Treasury released the first batch of fiscal amendments on 10 June 2014. One of the most significant amendments relates to the way in which risk policies will be taxed in the hands of long-term insurance companies. Read more >>


International

Toyota's fuel cell car will cost $70 000
TOKYO, JAPAN - Japanese car manufacturer Toyota will start selling its first fuel cell sedan in March next year with a price tag of around ¥7m ($70 000). Read more >>

Etihad buys 49% of Alitalia
MILAN, ITALY: Emirates airline Etihad Airways is to buy 49% of Alitalia, the two companies said after concluding months of tough negotiations, following years of financial crises at the Italian airline. Read more >>


More International


Jobs offered

Accounting/HR Manager - Johannesburg
Foshizi is a mid-size research company in Johannesburg seeking an accounting manager to perform accounting and HR duties. Beneficial to have a variety of office support related skills Read more >>

Assistant Accountant - Student Finances - Stellenbosch
Stellenbosch University currently seeks to appoint a suitably qualified and experienced assistant accountant: student finances. Ref. FIN/236/0614. Applications close: 10 July 2014. Read more >>

Bookkeeper - Johannesburg
Read more >>




New events to diarise

Cross Border Payments and Remittances 2014
Trade Conferences International - 16 Jul 2014 to 17 Jul 2014 Johannesburg

Loan Origination Conference 2014
Trade Conferences International - 6 Aug 2014 to 7 Aug 2014 Johannesburg

Market Segmentation Conference 2014
Trade Conferences International - 3 Sep 2014 to 4 Sep 2014 Johannesburg

Insurance Data and Predictive Analytics Conference
Trade Conferences International - 10 Sep 2014 to 11 Sep 2014 Johannesburg

Executing Strategy in a New Economy
Business Results Group - 11 Sep 2014 Johannesburg


Upcoming events

STOKVELEX 2014 - 3 Jul 2014 to 6 Jul 2014 Pretoria
The STOKVELEX 2014 is a Premiere show targeting Stokvels, cooperatives and individuals around the Gauteng region. Read more >>

Credit and Debt Law Conference
Alpha Omega Events - 1 Jul 2014 Johannesburg

GIBS Workshop on innovation
GIBS - 3 Jul 2014 Johannesburg

Introduction to derivatives
Paton Training - 3 Jul 2014 to 4 Jul 2014 Johannesburg

Dynamic Wealth Conference
Work Your Wealth - 5 Jul 2014 to 20 Jul 2014 Cape Town,Durban,Johannesburg

BankingTech Forum Africa
OpenRoom Events Ltd - 8 Jul 2014 to 9 Jul 2014 Johannesburg


All industry news


Medical
    Africa first medical tablet wins 2014 Rolex Awards for Enterprise

    Retail
      Can you trust your fridge?
      metail24.com arises from rubybox.co.za success

      Government
        New forensic unit to help eliminate corruption in NW

        Mining
          North West to focus on mining towns
          Minister to assess needs of Marikana families
          Zuma welcomes end of platinum strike

          CSI
            Momentum keeps orphans and those in need warm this winter
            Local celebrities support rhino orphan campaign #Rhinos1st
            Tiger Brands launches Mandela Day 2014 food security initiative
            GE invests R700m into skills and SME development in SA

            Agriculture
              Fisheries research resumes with Ellen Khuzwayo relaunch
              Agriculture to promote careers, to be included in career guidance curriculum
              African leaders told to Do Agric at AU Summit

              Building
                Group Five appointed construction of Nelson Mandela Children's Hospital
                Upgraded Cullinan Road officially opened

                GreenBiz
                  Rhino Project wins Mail & Guardian Greening Award
                  Ford is top of the green 'tree'

                  HR & Recruitment
                    Bettering the happiness bell curve
                    Social entrepreneurship and social innovation: Reclaiming sustainable development in SA - Paresh Soni, Ahmed Shaikh & Mohamed Karodia
                    The truth hurts - why you didn't get the job

                    Legal
                      Disclosures on Facebook - Jacques van Wyk and Andre van Heerden
                      African companies show increased interest in cross-border deals
                      Repudiation: A "thing writ in water"? - Liuba Stansfield

                      Manufacturing
                        FP&M SETA reveals the way forward
                        Pipes VIII Conference announces sponsors, keynote speaker

                        Education
                          CloudVarsity - new e-learning platform for FET institutions in SA
                          African EduWeek to showcase groundbreaking classroom technology

                          Tourism
                            Tourism marketing: Power to the picture - Mike Saunders
                            Cape Grace to unveil outdoor swimming pool, conservatory area

                            ICT
                              Gartner says businesses need to build digital competence
                              Is Amazon's new mobile a game-changer?
                              Garmin calls for buyers in East Africa

                              Logistics
                                Gov reaffirms support for localisation of transport industry
                                Users embrace Transnet's cargo tracking app - Thabiso Mochiko
                                Augmented reality in logistics can transform industry

                                Automotive
                                  Toyota researchers recognised for hybrid innovation
                                  VW Communication Division wins Gold Quill Award
                                  Hyundai wins awards for high quality vehicles
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