Global economic growth is clearly under pressure!

Uncertainty about the European debt crisis, a slowdown in China, debt downgrades, and the apparent failure of economic policy to kick-start global growth, are behind the recent downward revisions of economic growth.

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Recent growth rates imply that real house price decline continues

We don't think it is possible to say, but nevertheless do expect some further real house price decline.

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The success of a business should be measured by more than just profit

Private sector leaders and Millennials believe business, more than any other area, has the potential to impact society's biggest challenges

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The possibility for South African society at large to rise above debilitating political squabbling

The National Development Plan (NDP) put forward by the National Planning Commission in support of its Vision for 2030 is a wide-ranging document that deserves serious consideration.

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It has become customary practice to devise a list of resolutions for the year ahead

Vaguely crafted good intentions won't do it and don't last the full year. You have to have a plan.

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2012 report to put banking sector in spotlight as infrastructure projects take shape

South Africa's small and medium-sized enterprises (SMEs) would benefit from an easing of compliance regulations and faster public sector payments, according to Nedbank Group's Chief Executive Mike Brown.

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International credit rating agencies have had a torrid time since 2008

They have been partly blamed for the global financial crisis because of the inappropriate ratings they granted to the mortgage-backed securitised assets that were at the heart of the crisis, resulting in the accuracy and credibility of their rating models being questioned.

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Triumph of a fanciful ideology on healthcare financing that lacks sustainability

The High Court dismissal this week to have Prescribed Minimum Benefits (PMB) paid at medical scheme tariffs rather than actual cost could have profound implications for the medical schemes industry.

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The uncertainty with regards to pricing of healthcare will be allowed to continue

The case was dismissed because the Judge ruled that BHF, the representative body, did not have locus standi and therefore the judgement did not go into the merits of the matter at all.

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The prescribed minimum benefits (PMBs) which protect members of medical schemes remain in place

And the law which prescribes them stands. The North Gauteng High Court handed down the ruling earlier today.

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The affordability of food is a different matter

The coming year is expected be a relatively vibrant one for South African agriculture, owing to expected good rainfall and increased planting.

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Government should be looking to where it can stand back

The core message of the 2011 Medium Term Budget Policy Statement (MTBPS) is that Government has reached its limit, in size as well as in effectiveness.

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An over-reliance on property as a savings vehicle has left many investors with an illiquid asset

Most South African financial consumers are concerned about the extent to which they are financially prepared for retirement.

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The latest Consumer Financial Vulnerability Index

Although the Consumer Financial Vulnerability Index (CFVI) revealed that consumers felt more financially vulnerable in the second quarter of this year, the index also showed that it's not all doom and gloom.

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There is no room for a further increase in budget deficits and government debt

The updated medium-term budget policy statement for South Africa will be released later this month against the backdrop of the fiscal crisis in Europe.

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The history of a country's currency forms a valuable part of its heritage

With September being heritage month, the value of coin collecting and investing is examined below.

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Complaints received from its members

The Office of the Registrar for Medical Schemes has taken the decision to cancel the registration of GetMed Medical Scheme in terms of section 27 of the Medical Schemes Act, 131 of 1998.

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"a good man leaves an inheritance for his children's children"

Every year during the month of September, South Africans celebrate their diverse heritage on September 24.

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Strive to make every interaction with the customer a more productive touch point

Insurers are renewing their focus on top line growth, seeking ways to increase premium volumes while at the same time improving profitability.

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Premiums to be based on actual risk

New technologies that track and monitor the driving behaviour of motorists are set to revolutionise the motor insurance industry in South Africa, providing businesses and consumers the opportunity to significantly reduce the premiums they are paying.

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The quality of economic policy-making will heavily influence the nation's longer-term prospects

Economic forecasts are often compared with weather forecasting, the difference being that economic conditions normally do not change as quickly as the weather.

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Local economic update

What the South African Reserve Bank Monetary Policy Committee meeting means for consumers

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Nationalisation without compensation is in our view not politically feasible

As a financial services group, Sanlam does not have the legitimacy to speak on behalf of the mining industry.

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"When learning falls behind the rate of change it basically breaks everything"

The worst thing a leader can do is believe that they know it all, but, says Chris Breen, Associate Professor at the UCT Graduate School of Business, in his many years of working with those at the top, this is one of the most common characteristics of SA leaders.

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Ideal Dreams claims to be conducting arbitrage trading

The Financial Services Board (FSB) issues a warning to consumers not to conduct financial services business with Ideal Dreams, a entity that advertises its services on the internet inviting consumers to invest at least R5 000 and earn 5% interest per day, which is paid daily.

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Manage your Money, Live your Dream - helping women achieve financial wellbeing

The biggest long-term threat to an adviser's business may not be a market collapse, stringent regulation or rapidly rising costs.

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Inflation is likely to reach a high in the next nine months

Raising interest rates when inflation is about to peak and economic activity is already slowing down will result in this continuing.

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"We have a predatory healthcare system"

The Minister of Health, Dr Aaron Motsoaledi, has hit out at the "deadly divide" in South Africa's healthcare system, saying that the structure we have now is worse than what existed during apartheid.

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A frustratingly inconsistent approach to the way in which covers are arranged in each country

Recent moves by President Zuma to encourage the creation of a free trade zone covering Southern and East Africa is a positive development.

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Firstly it is expensive and secondly, benefit structures are complex

The rising complexity is a result of medical schemes designing benefit structures that are more effective in managing over utilisation of expensive medical services in order to keep costs as affordable as possible.

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The new Companies Act calls on directors to rethink their ethics strategy

The new Companies Act came into effect this May. It now places much more responsibility on top management and holds directors liable for losses.

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"If the education crisis is not fixed then businesses throughout South Africa will grind to a halt"

According to the latest skills survey from the Institute of Directors (IoD), the growth of nearly 60% of businesses is being held back by a lack of skills in the wider workforce and among existing employees.

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Sharing data and also meeting new regulatory requirements

Having completed development efforts on a number of areas, insurers and brokers are beginning a pilot of ACORD (www.acord.org) Standards in South Africa.

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Not enough is being done to support and nurture entrepreneurs

Global Entrepreneurship Monitor (GEM) research released today (12 May) shows that the FIFA World Cup brought spike in numbers of businesses being started in South Africa but long-term job creation prospects poor.

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A platform for the Baby Boomer segment

Thebe Exhibitions and Projects Group (TEPG) announced today that their Retirement Expo in October this year will showcase leading financial, property and lifestyle brands.

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Reasons for OECD pessimism

The Minister of Finance, Mr Pravin Gordhan, recently appealed to South African economists to give greater attention to the matter of inclusive growth, in other words to what must be done to ensure that all South Africans derive benefit from the growth in the economy.

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A larger role for enterprise wide risk management

The South Africa Market Watch, one of Alexander Forbes' signature insurance industry publications, recorded the views of CEOs from several leading South African insurers on climate change.

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MMI Holdings has announced its branding strategy

The newly established group has decided to retain and apply its existing client-facing brands, Metropolitan and Momentum, in the six operating divisions.

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Consumers the legislation aimed to protect might well end up footing the largest part of the bill

The South Africa Market Watch, one of Alexander Forbes' signature insurance industry publications, recently recorded the views of CEOs and MD's from leading South African insurers on the insurance market, current issues and likely future developments.

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On 07 April 2011, the world celebrated World Health Day

This year's theme is: Antimicrobial resistance - no action today, no cure tomorrow. In simple terms, antimicrobial resistance refers to drug resistance, a situation where medicines are rendered ineffective.

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Plan, predict and act with confidence and certainty in an ever changing world

Industry pow wow looks at systemic risk, sustainability and starts developing a set of industry-wide principles to manage new and emerging risks

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SMEs are important catalysts for development, effectively addressing employment and wealth creation

Absa Small Business today launched a new campaign aimed primarily at job creation and the sustainability of entrepreneurs.

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Growing systemic risk a crucial issue for the insurance industry

United Nations meeting in Johannesburg ahead of Rio+20 will formulate principles and actions by which to keep insurance sustainable in a changing world

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Statement by Minister Pravin Gordhan regarding the UNSC Resolution on Libya

The South African Government unequivocally welcomes and supports the United Nations Security Council (UNSC) Resolution 1970 (2011) which, among other things, calls for a freeze of the funds and assets belonging to specific Libyan individuals and entities.

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At the moment none of the historical patterns hold true

The FNB/BER building confidence index retreated from 38 in 4Q2010 to 24 in 1Q2011. This is the same level than in 2Q2010, which was the lowest in the recession.

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The government is wasting scarce savings

As part of the recent budget the National Treasury proposed a set of fiscal guidelines for South Africa in accordance with which government finance is to be managed in the future.

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Deal includes LiveTrack vehicle tracking system and safer drivers to get refunds

Vodacom Business has successfully secured a deal in which their LiveTrack vehicle tracking system will be used to assist Santam in launching a Safer Driver campaign.

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But the tax will cost South Africa's large corporations some R82bn per annum

The National Treasury's proposed carbon tax, which remains open for public comment until 28 February, has led to some heated discussion in both the media and corporate circles.

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Unpredictability is raising the risks to the local housing market and to household finances

Brent Crude oil prices hit intraday levels of around $119/barrel, sharply up from below $100/barrel only a few days ago and fuelled by major unrest across several countries, the most troubled one seemingly Libya at present.

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What does this mean for car owners?

The South African government estimates that the damage caused by the unprecedented flooding occurring across the country over the past two months could well run into hundreds of millions of rands.

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A brighter outlook with 4% GDP growth in sight

Recent economic data releases strongly suggest that SA GDP growth accelerated towards 4% quarter-on-quarter (annualized) in the final quarter of 2010.

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During the Mbeki-Manuel era, we became used to very orthodox budgets being the norm

Fiscal conservatism was the order of the day, with the budget deficit and the national debt (relative to GDP) gradually but persistently reduced from levels that risked becoming unsustainable, to being exemplary.

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Relative affordability and the expectation of mild average house price deflation in 2011

The FNB Quarterly Housing Review focuses on the key issue of housing affordability, and why residential demand has not grown significantly despite a very significant improvement in the two "traditional" calculations of affordability that are used.

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One cannot blame private investors for being rather reluctant to invest more funds off-shore

The increase in the maximum limit on offshore investments for institutional investors announced by the National Treasury in December last year has been widely welcomed.

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Sponsorships are a cornerstone of our marketing investment

Absa Bank today announced that it has taken over the sponsorship of rugby's defending world champions, the Springboks.

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Postponement of the special general meeting and elections to 28 May 2011

In November 2010 the Registrar of Medical Schemes appointed independent inspectors to conduct an inspection into the affairs of Bonitas Marketing (Pty) Ltd and Bonitas Medical Fund in terms of the Inspection of Financial Institutions Act 80 of 1998.

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Year-on-year growth percentage in mortgage advances is forecast to remain in single digits

Year-on-year (y/y) growth in household credit extension, comprising instalment sales agreements, leasing finance, mortgage advances, overdrafts, credit card debt and other loans and advances, came to 6,9% at the end of 2010 after rising by 7,2% up to November last year.

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Public private partnerships: New solutions for financing disaster risks

Public-private partnership solutions can substantially ease the financial burden natural disasters put on government budgets.

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European authorities have been dragging their feet for too long

There is a strong consensus that one of the biggest risks to the global economy and financial markets in 2011 resides in how the European sovereign debt crisis will play itself out.

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First China Inc meets SA Inc Business Forum

Following 13 years of diplomatic ties, it is becoming more evident that trade between China and South Africa is gaining momentum.

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18-39 year age group are the most vulnerable

The third quarter 2010 results of the Consumer Financial Vulnerability Index (CFVI) which covers the latest trends in consumer financial vulnerability, as gathered from key informants during the third quarter of 2010, indicate that South Africans remain financially vulnerable although available economic data shows continuous improvements in the macro-economy, with the exception of employment levels where job losses are still continuing.

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And other questions you may have on Life Insurance

Petrie Marx, an actuary in product development from Sanlam Personal Finance answers some questions

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1221 fatal crashes a cost of more than R 1.5 billion to the economy

The Automobile Association of South Africa (AA) was in full support of the announcement that the government will be announcing a new strategy to look at road maintenance across the country and to build access roads into rural areas.

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Microinsurance refers to insurance products especially designed for low-income individuals

Swiss Re’s latest sigma study “Microinsurance - risk protection for 4 billion people” emphasises the relevance of microinsurance as an effective and viable risk management solution for low-income individuals.

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South Africans are taking their financial problems seriously - very seriously indeed

A Kudough survey has found that most of us are giving ourselves the festive gifts of a lighter debt burden and more money in the bank this year.

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Investigation points to material irregularities

The Registrar of Medical Schemes on Monday asked the South Gauteng High Court in Johannesburg to place Sizwe Medical Fund under curatorship. The case number is 49503/2010.

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No central bank has total independence with regard to its policy goals

One of the consequences of the global financial and economic crisis is that it has resulted in a fundamental review of the role and independence of central banks.

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A huge opportunity for the financial services industry

FinMark Trust launches the 2010 results of its annual FinScope South Africa study.

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Does it really take us forward?

Perfectly sensible policies can be tarnished by the perception that they were unable to deliver on their promises.

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The Ease of Doing Business Index

Promoting South Africa's reputation as a globally competitive investment destination

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Overall score has remained stable since 2005

Marginal improvement year-on-year supports future investment potential in terms of an active, healthy and educated workforce capable of high productivity levels.

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Devastating consequences for exports from developing countries

South Africa is very concerned about this week's decision by the United States of America (USA) to launch a second round of buying government bonds.

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Fundamental reordering of the global landscape cannot take place without major currency realignment

It was the Brazilian Minister of Finance who put the cat among the pigeons by describing the current wave of competitive devaluations and the resistance to them as a "currency war".

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ABG could be in contravention of numerous financial legislative Acts

In order to protect the interests of consumers, the Financial Services Board (FSB) has issued a warning to consumers not to conduct financial services business with ABG Investment Portfolios and its subsidiaries ABG Auto Finance and Auto-Bank (ABG).

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Manner in which HSBC withdrew from the process is cavalier

HSBC was irresponsible in the manner it chose to terminate discussions for the acquisition of Nedbank.

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Any well structured investment plan starts with a clear objective and timeframe

Most South African financial consumers are concerned about the extent to which they are financially prepared for retirement.

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Be careful in wishing for a reversal of this trend as the fallout could be rather disorderly

The exchange rate of the rand is currently the centre of attention in the economic debate in South Africa, but then one could say that that has been the case for at least the past year already.

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Is National Treasury losing its grip on government finances as SA becomes a welfare state?

The release of the 2010 Medium-term Budget later this month (27 October) is being awaited with even more interest than usual.

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Don't defer retirement planning until too late

When we think about retirement planning, there is often the temptation to think that we have enough time on our side.

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Court dismisses FSB application to place part of Dynamic Wealth under curatorship

FSB Registrar also interdicted from withdrawing Dynamic Wealth licenses

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Costs awarded on a punitive basis

The High Court yesterday divested the Board of Bonitas of their powers as trustees following a counter-application by the Council for Medical Schemes (CMS) to an application by the scheme interdicting the CMS from instituting proceedings to remove the Board for not being fit and proper.

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Guilty of contravention of the law, defiance or circumvention of regulation

Dynamic Wealth Management (Pty) Ltd and Dynamic Wealth Stockbrokers (Pty) Ltd

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"The investors should be able to decide what they want"

Investors of each PSC have the right to request the company secretary of such PSC to convene a meeting of shareholders.

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We find ourselves at a time when economic news is changing continually

Positive and negative reports follow each other like clockwork, which makes it difficult to determine the underlying trend with any great certainty.

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Only 3% of South Africans will be financial independent on retirement

You don't need a financial planning tool to tell you the best time to start saving for retirement - it's TODAY!

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Insurance is one of those things that people do not want to think about

No one likes the idea of loss or death and the potential problems associated with them.

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It is often said that the only certainties in life are death and taxes

If this is true, then we are dealing with a vast number of uncertainties, aren't we?

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At present the spotlight should be on unemployment

As far as macro-economic policy is concerned, the most important point of discussion worldwide at the moment is the length of time the current stimulatory policy will still have to be maintained.

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The economic ramifications of irresponsible behaviour on the road

Studies from the Department of Transport and Human Sciences Research Council (HSRC) show that the greatest portion of crashes on South African roads is caused by the human factor.

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What is ultimately required for a sustainable economy is for consumers to save and invest more

With almost 60% of South Africa's Gross Domestic Product (GDP) coming from consumers, it is somewhat encouraging to note the current boost in consumer confidence, which has seen Retail sales surpass expectations and make an impressive surge to 4,6% in May 2010.

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Selecting the correct insurance cover on your vehicle remains fundamentally important

The evolution within the vehicle industry has been both staggering and inspiring.

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Boards were not properly constituted as the rules of the funds required

The Financial Services Board (FSB) has taken regulatory action by appointing a board of trustees for the Electrical Contracting Industry Pension Fund and the Electrical Contracting Industry Provident Fund.

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Politically motivated decisions that do not take full account of economic realities

One of the immediate side-effects of the global financial crisis was the resumption of the never-ending debate on the respective roles of the market and the state in the economy.

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Complaints from investors who cannot access or retrieve their investments

The Financial Services Board (FSB) has warned the public to be cautious when dealing with Integrated Investment Management SA (IIMSA) regarding financial services related business.

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Success, whether in business or personal life, is invariably the result of good planning

Financial security for you and your loved ones is, perhaps, the most important planning objective of all.

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Government employees need to remember that they are but custodians of taxpayer's money

The Taxpayers' Movement of SA (TPM) is closely following the issue of World Cup tickets having been purchased with taxpayers' money.

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No society will easily reach agreement on equitable distribution of a burden regarded as unfair

In my previous commentary ("The BIG fiscal challenge" of 5 May 2010) I outlined the huge challenge some countries are facing in getting their fiscal affairs in order.

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Solid economic growth moving further away, rather than closer

In its latest Global Economic Conditions Survey, the Association of Chartered Certified Accountants (ACCA) has found that the global economic recovery has run out of steam with confidence taking a hit and a return to solid economic growth moving further away, rather than closer.

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Just when markets wanted to take a breather, a new crisis appeared on the horizon

The bank crisis is largely a thing of the past (except for ongoing risks here and there), but the aftermath includes a fiscal crisis. The common factor is that an unchecked building up of debt levels, whether in the private or the public sector, is not sustainable.

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Vehicle crime no longer the biggest challenge facing motor insurance

"The South African Insurance Association (SAIA) supports healthy competition, across all industries," said SAIA Chief Executive Barry Scott.

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Let the Seller Beware

"Most South African businesses seem to be blissfully unaware that the most draconian of the provisions of the new Consumer Protection Act will soon be coming into effect," said consumer law specialist Neville Melville at the launch of his latest book, "The Consumer Protection Act made easy."

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Start creating your own cash cow

According to an annual FinScope survey, which tracks the use of financial services products in South Africa, a whopping 62% of South Africans simply don't save.

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One of the highest Gini coefficients in the world

Carel van Aardt and Marietjie Coetzee show in their report on personal income in South Africa during 2009 (BMR Report 387) that negative GDP and employment growth during 2009 had a direct impact on personal income growth and the distribution of such income growth.

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SA Labour broking a multi-billion rand industry providing employment to large numbers of employees

As an industry which employs individuals for placement with third parties, the scope for exploitation of employees cannot be disregarded.

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Government's debt servicing costs

Should government's budget merely be about listing all the spending requests from different departments and raising the required taxes and loans to meet them?

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... the third-largest medical scheme

The acting Registrar of Medical Schemes has today filed papers with the South Gauteng High Court in Johannesburg asking for an urgent hearing to place Bonitas Medical Fund under curatorship in terms of Section 56 of the Medical Schemes Act (Act 131 of 1998).

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... but people still at risk

The financial vulnerability of consumers improved slightly during the fourth quarter of 2009, although general levels of vulnerability remain a serious concern, according to the latest results of the Consumer Financial Vulnerability Index (CFVI).

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Do not lose sight of what it is that gives most companies the competitive edge

But the question on everyone's lips at the moment is whether new technologies are being used to transform the sector in line with international trends, or whether the great and the good alike are just in a holding pattern.

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Authorities should have addressed the issue months ago

The Department of Justice and Constitutional Development has listened to the fiduciary industry and now done all that is necessary to remove the confusion surrounding the payment for registration of trust deeds at the Master's Office.

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FISA calls on SARS and the Master's Office to offer urgent clarity

Confusion surrounding the use of revenue stamps for payment of registration of trust deeds and requests for certified copies of documents already lodged with the Master's Office will lead to delays and inconvenience for the public from Monday.

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Required degree of discipline on the expenditure side was just not politically feasible

The 2009 MTBPS released yesterday is probably as good as one could expect under the circumstances.

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The representative's dishonesty supervened his inability to do his job

In what is believed to be the first case of its kind in South Africa, Metropolitan's decision to debar a representative for falling short of FAIS 'fit and proper' requirements has been upheld by the CCMA.

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KPMG Survey

The deterioration of the South African economy during 2008 had an adverse effect on the financial performance of the insurance industry.

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More responsible clients for the insurance broker?

The New Companies Act, due to be promulgated in 2010, is changing the face of corporate business in South Africa and as we all know change brings opportunity.

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Flagrant contravention of the provisions contained in Regulation 23 of the Medical Schemes Act

The Council for Medical Schemes (CMS) had granted temporary accreditation to Resolution Health (Pty) Ltd and Resolution Administrators (Pty) Ltd in October 2008, subject to conditions.

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The only defence - increase your rate of contribution

The global financial crisis that started in August 2007 developed into an economic crisis in the fourth quarter of last year, which plunged the global economy into its first recession since the Second World War.

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Exercise caution when dealing with an entity styling itself Platinum Investments

The public is warned to exercise caution when dealing with an entity styling itself Platinum Investments based in Ermelo, Mpumalanga.

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Serious contraventions of various provisions of the Long-Term Insurance Act

New Era Life Company Limited (New Era) has been placed under provisional curatorship by the North Gauteng High Court.

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Essential reading for every potential, novice or professional investor and investment adviser

During times of economic downturn and upheaval, people express heightened interest in the stock market and there is a greater need for sound advice.

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Indications of the challenges government finance will be facing this year

"The question now is whether Mr Mboweni meant the repo rate would not be reduced further, or that further rate cuts would be limited in total"

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The bad news is punctuated by a positive surprise now and then

Following a period of continued negative news, recent international economic statistics have started becoming more mixed.

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Grave difficulty in trying to enforce exclusions and warranties

Many insurers, especially of the aviation extraction, face possible loss of defences against dodgy claims by being unable to comply with the SA laws relating to timeous issue of policies.

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Letter to the Editor

"Just keep my name out of it!"

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Published verbatim - but anonymously because most Financial Service Providers fear retaliation

'not to worry, we are way behind, and have LOST a number of the returns'

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Providers have been bludgeoned by sweeping attempts at coercion

The FSB has, over the last few weeks, been sending penalty letters to financial services providers.

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Will South Africa go into a technical recession or not?

As far as I am concerned, the question misses the point and the debate on it is no more than hair-splitting.

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The anomaly of occasional advice

It is clear that a legal qualification on its own is not considered adequate for any financial product authorisation.

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South African pharmacists are caught between a rock and a hard place

On the one hand, they are forced by law to substitute branded prescribed medicines with cheaper generics. On the other hand, they receive little or no guidance on these dispensing decisions from the powers-that-be.

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Criminal liability may attach to us personally should we not report economic crime

Jack Bloom, Democratic Alliance leader in the Gauteng Legislature, has suggested that those implicated for not reporting the Carl Niehaus forgery could extend beyond Gauteng Premier Paul Mashatile to include all executive members of the legislature who had any knowledge of wrongdoing and said nothing.

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Letter to the Editor - RE: MJ Jansen van Rensburg complaint

I write in response to your Newsletter of Sunday 8th February 2009 headed "Only animals prey on the old and the weak" and trust that, in the interests of fairness, you will publish this response in full.

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JBF opposed to any proposals that would contravene fair competition

Comment on the discussion document published in September 2008 by the office of the Registrar of Medical Schemes relating to the remuneration of health brokers.

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In reality, 60-70% of the costs at most contact centres are staff-related

For years South Africa's contact centre industry, its promoters and its detractors have focussed on telephony as the single biggest cost facing operators.

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Bad news is on its way, with exports, income and employment losses ahead

At first blush, last week's Monetary Policy Statement sounded again humdrum conventional, only offering a bland hue of policy conservatism.

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Seeking an order declaring that settlement agreements be made an order of Court

Statement by curators of Ovation Global Investment Services (Proprietary) Limited ("Ovation Services") and Ovation Global Investment Nominees (Pty) Limited ("Ovation Nominees")

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The SARB cut interest rates by 1% today, prime falling to 14%, with more easing clearly ahead

The SARB Governor indicated, possibly only half in jest that he had proposed a 2% rate cut today, but that the Monetary Policy Committee had restrained him, feeling 1% was enough.

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If it ain't broken, don't fix it

Normally the national budget that is presented to Parliament by the Minister of Finance in February each year is an extended version of the Medium Term Budget Policy Statement (MTBPS) of the previous year, filling in the detail with regard to tax changes, increases in social grants, policy changes, etc.

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Making this change today would give governments far more room to support the real economy

"The Basel II reform that would have made most injections of public funds unnecessary"

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Nobody is immune to the gyrations of interest rates

Monetary policy is thus the constituent of economic policy that is the most under scrutiny in South Africa, and it has borne the brunt of criticism blaming macro-economic policy for insufficient progress in eradicating unemployment and poverty.

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"Government is not the proximate cause of growth"

Much has been written on the topic of continuity in economic policy in South Africa in the past year.

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Actuarial exercises - Part 1

A two-part discussion about the various insurance needs of those partaking in sport, recreational pursuits and hazardous activities

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Challenge to make National Credit Act work

Not a month goes by when I am not offered pre-approved credit. This month it was Direct Axis (again) and American Express. Neither know what the other is doing, yet both are offering a R50 000 loan.

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Compulsory but free to choose

It is doubtful the provisions of the National Credit Act 2005 will curb the practice concerning compulsory insurance. Most lenders require some form of credit life to secure a loan in the event the borrower dies or, in some cases, becomes disabled and cannot earn a living.

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Waive good bye to your money ...

All car rental companies include in their daily rates a charge for insurance, referred to as ‘Collision Damage Waiver’ (CDW) and ‘Theft waiver’ (TW), intended to protect the client in the event he has an accident with the rental car, or it is stolen.

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Car rental companies’ smoke and rear-view mirrors

A survey of car rental prices – we spoke to six firms – indicated a remarkable similarity in fees, suggesting that collusive and monopolistic practices are rife in the industry

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