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Financial Services

SA's new driving demerit system threatens insurance industry

Aug 18 2019 13:04

The new demerit system for SA road users has good intentions, but it can also pose a significant threat to the insurance industry.

    Financial Services

    Jooste: Steinhoff's R850m claim 'vague and embarrassing'

    Aug 16 2019 15:20

    Steinhoff's former Chief Executive Officer Markus Jooste sees the retailer’s claim for more than R850m ($56m) against him as "vague and embarrassing", Bloomberg reports.

    Financial Services

    7 take-aways from the PIC inquiry

    Aug 14 2019 21:53

    The commission was led by Justice Lex Mpati and assisted by former Reserve Bank Governor Gill Marcus and veteran stock broker Emmanuel Lediga. They will prepare a final report for the president, to be submitted by October 31.

    Financial Services

    Steinhoff corporate fraud beyond what anyone envisaged, inquiry hears

    Aug 14 2019 14:43

    The PIC commission heard from its last witness, co-founder of Lancaster Group Jayendra Naidoo on Wednesday. Lancaster received a loan from the PIC to make an investment into Steinhoff.

    Financial Services

    Moyo not backing down, wants Old Mutual directors declared in contempt of court

    Aug 13 2019 15:42

    Old Mutual is set to head to court on Friday to battle it out with its on-again, off-again CEO Peter Moyo in the second round of a corporate clash that Moyo has dubbed 'David vs. Goliath' in court papers.

    Financial Services

    PIC inquiry: Lifestyle audit finds no criminal conduct by ex-head Dan Matjila

    Aug 13 2019 12:12

    A lifestyle audit conducted by PwC into five former officials at state-owned asset manager the Public Investment Corporation - including its ex-CEO Dan Matjila and former board chair Mondli Gungubele - found no evidence of criminal conduct.

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    Financial Services

    Absa posts half-year earnings growth of 3%

    Aug 13 2019 08:07

    Absa has posted earnings growth of 3% for the first half of 2019, it was bolstered mainly by its South African retail and business banking unit.

    Financial Services

    Ex-PIC head says he would have called extraordinary GM to 'remedy' R4.3bn AYO investment

    Aug 12 2019 17:45

    Dan Matjila has testified that he would have called an extraordinary general meeting to "remedy" problems at JSE-listed IT group AYO Technology Solutions if he were still head of the PIC.

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