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Financial Services

Short-term insurer to be liquidated

Oct 20 2016 18:40

A high court in Johannesburg has granted the application to have short-term insurer SaXum Insurance Limited placed under final liquidation.

Financial Services

Fat fines for Discovery Life, Regal

Oct 20 2016 19:34

The Financial Services Board has fined Discovery Life and Regal Financial Services R2.5m and R200 000 respectively in a matter related to “sign-on bonuses”.

Financial Services

FirstRand backs Gordhan stance on move to cut Gupta ties

Oct 20 2016 12:31

FirstRand said it agrees with South African Finance Minister Pravin Gordhan that he cannot interfere with their decision to cut ties with the Gupta family.

Financial Services

PIC discloses exact exposure in Surve's media group

Oct 18 2016 14:11

The Public Investment Corporation has disclosed details of 250 investments in its R44.6m unlisted portfolio, as well as a R1.275bn investment in Independent Media Group.

Financial Services

Diamond billionaire Oppenheimer backs new hedge fund startup

Oct 18 2016 10:44

The family of SA diamond-mining billionaire Nicky Oppenheimer is backing a new hedge fund to be run by ex-Capricorn Capital Group money managers Andrew Crawford and Stephen Carew.

Financial Services

Zim bank notes plan worsens liquidity - tax agency

Oct 14 2016 16:20

Zimbabwe's tax agency says the planned introduction of local bank notes had brought uncertainty and worsened cash shortages as consumers hold onto their dollars.

Financial Services

Nigerian banking in ‘full blown financial crisis’

Oct 10 2016 11:49

Nigeria’s banking industry is experiencing a “full blown financial crisis” as failed fiscal and monetary policies lead to a credit crunch, say analysts.

Financial Services

Credit Suisse cuts jobs in SA, Dubai to save costs

Oct 09 2016 11:06

Swiss lender Credit Suisse Group has cut jobs in South Africa, including researchers covering stocks, and two equity analyst positions in Dubai.

Financial Services

Capitec aims to grow credit card book to R10bn by 2021

Oct 09 2016 09:36

Within five years, Capitec would like to have grown its credit card book to R10 billion, or 10% of the local R100 billion credit card book market, according to Capitec CEO Gerrie Fourie.

Financial Services

PIC wants Anglo to be more SA controlled

Oct 06 2016 18:59

The Public Investment Corporation, Anglo American’s biggest shareholder, wants SA investors to follow its lead and increase their holdings in the miner.


Financial Services

Vunani posts solid half-year revenue rise

Oct 06 2016 14:41

Financial services group Vunani has announced that revenue for the six months to end-August 2016 has lifted to R75.0m from R58.6m as at June 30 2015.

Financial Services

PIC has 'appetite' for Barclays Africa stake

Oct 05 2016 11:05

The Public Investment Corporation says it is interested in boosting its holding in Barclays Africa Group, which it still sees as the best partner to team up with for a bid.

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