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Financial Services

Tumultuous year deals Alexander Forbes a R45m loss

Dec 13 2018 20:45

Alexander Forbes has released its interim results, two months after removing a CEO, losing R339m to a failed software project, and protests over an estimated R49bn in unpaid retirement funds.


Capitec beefs up fight to stop debit order fraud

Dec 12 2018 16:05

Capitec has lowered the minimum value that triggers an SMS notification for clients to be made aware of small debit orders from their accounts in an effort to fight unauthorised transactions.

Financial Services

Sygnia CEO Magda Wierzycka facing complaint of attempted extortion

Dec 11 2018 18:50

A complaint of attempted extortion has been laid against Magda Wierzycka, CEO of asset management company Sygnia, by African Equity Empowerment Investments Limited.

Financial Services

D-day for Moyane as court to decide his fate

Dec 11 2018 07:01

Former South African Revenue Services boss Tom Moyane will on Tuesday learn his fate, as the North Gauteng High Court delivers judgment on his bid to have his dismissal overturned.

Financial Services

FirstRand takes a leaf from Amazon's book to capture consumers

Dec 10 2018 08:54

FirstRand is emulating with a digital offering that will span everything from insurance, car license renewals to locating plumbing services as the South African bank chases new revenue sources.

Financial Services

Trust us, KPMG chair pleads in letter to SA

Dec 09 2018 12:58

KPMG South Africa says it is now "a very different business", as it appeals for public trust after being embroiled in Gupta-linked and other auditing scandals.

Financial Services

PIC pursuing those responsible for VBS fallout, awaiting Steinhoff outcomes

Dec 07 2018 12:26

The PIC has Scopa it is pursuing those responsible for VBS-related losses, and awaiting the outcome of a PwC forensic investigation into Steinhoff before making a decision.

Financial Services

Former VBS CEO wants to challenge 'bank heist' report findings at ConCourt

Dec 06 2018 11:11

Former VBS CEO Andile Ramavhunga says he will launch a Constitutional Court bid challenging the Financial Sector Regulation Act which Advocate Terry Motau relied on in his report on the failure of the mutual bank.

Financial Services

PIC says it will continue to invest in SOEs, but may reassess some details

Dec 07 2018 21:28

Africa's largest state-run asset manager has told Parliament’s that while it s in the process of reassessing its investments in state-owned entities, it would continue its invest in them because of its mandate.


Financial Services

Fresh bid from accounting body to discipline ex-VBS bosses

Dec 06 2018 06:55

The South African Institute for Chartered Accountants is hoping to end 2018 with disciplinary action in the bag against two former VBS leaders, as the industry comes under pressure to deal with errant accountants.

Financial Services

R5bn in impairments not about lack of due diligence, says government pension fund

Dec 05 2018 18:56

The GEPF, which has registered impairments of over R5bn in its investments in Steinhoff’s empowerment partner Lancaster 101 and Independent News and Media SA, says it has no reason to believe it did not conduct proper analysis.

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