21 Feb 2012

Finance, Accounting & Banking

 

We live in taxing times...

Tomorrow, Finance Minister Pravin Gordhan will either make or break your day, depending on what he says in his budget speech, and how what he says will affect you. We'll bring you the news and analysis as soon as we have it.

In the meantime, however, there's good news on the crime front, with serious crime levels apparently in decline and, what's more - especially if the plight of the rhino upsets you - the SANDF and law enforcement agencies are to fight border crimes - which should be good news for rhinos and very bad news - sometimes fatal news - for poachers.

Back on the finance front, Anna Malczyk of the UCT Basics of Financial Management short course gives you some tips on defining your business financial goals for 2012.

And now for something out of this world; did you know we have a space agency? Well, we do, and even though the South African National Space Agency (Sansa) was formally launched in December 2010, and began operations only in April 2011, it seems that it is laying the foundations for... going into space!

Finally, for you drivers of precious metal - i.e. a car - a new study on the costs of vehicle ownership has some interesting facts. When next you complain about the price of fuel, just be grateful you don't live in the UK.

Rod Baker, general manager: content

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Finance, Accounting & Banking


Defining your financial goals for 2012
[Anna Malczyk] Most businesses are created, at least in part, to make money, and financial achievement is an important way to measure the success of a business. Read more >>

Accounting and Auditing


New bill authorises auditors to perform B-BBEE verifications
With effect from 7 December 2011, and in accordance with the Revised Preferential Procurement Regulations, one of the aims of which is to promote uniformity throughout the public sector procurement system, it is now a legal requirement that all tenders awarded by organs of state must take 10% or 20% - depending on the value of the tender - cognisance of every tenderer's B-BBEE status, as opposed to their percentage black ownership (the old BEE status). Read more >>

Banking


FNB's mobile money solutions a hit across Africa
Mobile banking is taking off in Africa, with FNB recording a 150% jump in transaction growth for its cellphone banking service and 1,384% growth for eWallet for the month of December 2011 when compared to the previous December. Read more >>

Prasa to invest R136bn on trains, infrastructure
The Passenger Rail Agency of South Africa (Prasa) is to spend R136bn to acquire about 7000 new trains and upgrade and modernise train stations. Read more >>

Financial Services


UIF pays out R4.7bn
The Unemployment Insurance Fund (UIF) has announced that it paid out R4.7 billion in benefits in the first nine months of this financial year. Read more >>

Investment Management


Capitalworks invests in affordable housing sector
In a multimillion rand transaction, South African based independent alternative asset management firm Capitalworks has acquired a majority share of Duro Pressings (Pty) Ltd in partnership with the management team and a consortium of investors. Read more >>

Public hearings into economic zones kick-off
The economic zones that are proposed in the Special Economic Zones (SEZ) Bill will boost the economic growth of KwaZulu-Natal, says Economic Development and Tourism MEC Michael Mabuyakhulu. Read more >>

Retail


New study on vehicle ownership costs
Vehicle financier Wesbank has released its international mobility study, which compares the operating costs of a typical passenger vehicle in different regions around the world to highlight the variation in costs faced by consumers. Read more >>

Taxation


Awaiting budget reassurances
[Adam Samie] As South Africa waits for the Budget Speech from Finance Minister Pravin Gordhan at 2pm on 22 February 2012, many hope that it will emphasise how funds will be spent and what assurances will be made that excessive spending will be reined in. Read more >>


International
The Netherlands, France: Europe's highest penetration of online banking users
LONDON, UK: comScore, Inc has released an overview of internet usage in Europe, showing 381.5 million unique visitors went online in December 2011 for an average of 27.5 hours per person. Read more >>

More International...


Government
Serious crime levels decline
[Francis Hweshe] The Justice, Crime Prevention and Security Cluster has revealed that serious crime levels have declined by 5% in the last three years. Read more >>

More Government news...


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