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Financial Services

As coronavirus threatens jobs, some insurers halt sales of retrenchment cover

Apr 08 2020 21:49

Some of South Africa's insurers have stopped selling retrenchment cover as the novel coronavirus threatens to accelerate the rate of unemployment in the country. Liberty said it has become very difficult to assess the potential risks and related cover for new clients.

Financial Services

Coronavirus | New Development Bank loan helps, but we need more, economists warn

Apr 06 2020 22:27

National Treasury’s application for a $1 billion loan from the New Development Bank to fight the impact of the Covid-19 pandemic has largely been welcomed, but economists have urged the department to cast its net wider in search of much more funding.

Financial Services

Covid-19 | Over 20 000 people stand to benefit from R1bn Oppenheimer funding

Apr 06 2020 21:56

The South African Future Trust, established by Nicky and Jonathan Oppenheimer to offer an initial R1 billion in support to SMEs hit by the coronavirus pandemic, is already providing financial assistance to some small businesses.

Financial Services

Rand Merchant Bank urges coordinated effort to soften virus blow

Apr 03 2020 09:00

Rand Merchant Bank urged South African lenders and other finance firms to adopt a more coordinated approach with the government to the economic crisis caused by the coronavirus outbreak.

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Financial Services

African Bank ranked first in customer satisfaction

Apr 04 2020 20:56

In the 2019 South African Customer Satisfaction Index report, African Bank was rated number one in customer satisfaction, outshining all other banks.

Financial Services

Five SA banks cut deeper into junk by Fitch

Apr 01 2020 09:54

The credit ratings of South Africa’s five largest banks were downgraded deeper into junk territory by Fitch Ratings, which cited a deteriorating operating environment following the outbreak of the novel coronavirus.

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