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Financial News
New FNB app simplifies financial decision-making when buying or selling property
By: David Oliveira 4th November 2016 First National Bank (FNB) has launched its nav›› Home edition digital financial navigation service last month, which simplifies customers’ financial decision-making when buying or selling property. The service is available on the bank’s mobile app. →
Liberty using 'agile innovation' to create investment products
By: Schalk Burger 4th November 2016 Financial services firm Liberty is using a form of agile innovation to develop new investment products for people outside the affluent and mass affluent categories who do not typically invest because investment products do not suit their lifestyles. Comparing the investment milieu of South Africa... →

RDR regulations to improve financial services outcomes, Liberty asserts
By: Schalk Burger 28th October 2016 The retail distribution review (RDR) regulations, which must be phased into financial services practices between January and April next year, are aimed at improving the outcomes for consumers and reducing risks for the financial services industry, says financial services and insurance firm... →
Impact of digital disruption starting to be felt by business
By: David Oliveira 28th October 2016 Availability and business recovery company Veeam hosted its VeeamON Tour conference earlier this month, where trend analysis consultancy Flux Trends owner and top South African trend analyst Dion Chang discussed global digital and technology trends that are promoting the “on-demand economy” and... →
Survey shows only modest rise in innovation performance by SA firms
By: David Oliveira 28th October 2016 South African companies have shown only marginal growth in innovation in 2016, business management consultancy Accenture’s Innovation Index finds. A total of 57% of respondents were found to be laggards, 29% acted as leaders in innovation and 8% served as innovation value champions, with an... →
Government, society need joint solution for Fees Must Fall challenge
By: Anine Kilian 26th October 2016 Government has acknowledged concerns raised by various parts of the post-school community regarding free tertiary education, noted Finance Minister Pravin Gordhan in his Medium-Term Budget Policy Statement address on Wednesday. The Fees Must Fall movement, comprising university students demanding... →

FNB launches property ownership financial navigation tool
By: David Oliveira 19th October 2016 First National Bank (FNB) has launched its nav›› Home edition digital financial navigation service to simplify customers’ financial decision-making when buying or selling property. The service is available on the bank’s mobile app. →
Hard currency availability a challenge for cross-border trade in Africa
By: Simone Liedtke 14th October 2016 An issue that has come into sharp focus for businesses in Africa is the shortage of available hard currency as most capital projects on the continent tend to be funded in US dollars although they may generate their revenue in local currency, says Export Credit Insurance Corporation of South... →

$300m facility for African power, infrastructure projects announced
By: Mia Breytenbach 7th October 2016 Standard Bank of South Africa (SBSA), US overseas development financier Overseas Private Investment Corporation (OPIC) and diversified, community-based financial services company Wells Fargo Bank have announced a $300-million facility to fund power and infrastructure projects in Africa. The... →
Market research shows growth in lift and escalator industries
23rd September 2016 The global lift and escalator market was valued at $86-billion in 2012 and is expected to grow steadily from 2016 to 2020 spurred by robust demand from Asia, according to a report released last month by market research company Research and Markets. →

GROWING INDUSTRY Research has shown that there will be an increase in the amount of lifts installed throughout the Middle East
Digital services offering stimulus to wealth management industry
By: Schalk Burger 23rd September 2016 The wealth management industry is ideally positioned to leverage and scale up using digital technology to improve efficiency and responsiveness, despite only 25% of wealth management firms globally offering more than email access to clients. When this is compared with the average... →
DBSA aims to ‘catalyse’ funding to poor munis as it sets R100bn funding goal
By: Terence Creamer 22nd September 2016 The Development Bank of Southern Africa (DBSA) disbursed a record R17.1-billion during its 2016 financial year, up from R13-billion in 2015, with disbursements to the country’s eight metropolitan councils (metros) surging to R7.5-billion from R3.7-billion. CEO Patrick Dlamini said a total of... →

Finance Minister Pravin Gordhan and DBSA CEO Patrick Dlamini
Government still struggling to honour 30-day payment promise
By: Mia Breytenbach 16th September 2016 While there has been a consistent improvement in the setting up of systems to enable government institutions to pay suppliers and service providers within 30 days, the pace of the improvement is still inadequate, states Minister in the Presidency for Planning, Monitoring and Evaluation Jeff... →
SA legal firms soon to play more of a role in Africa business disputes with adoption of arbitration Bill 
By: Donna Slater 16th September 2016 There are about 157 countries which have adopted the Model Law, thereby recognising international arbitration agreements and enforcing international arbitration awards. →
Cabinet caught unawares by Zwane’s announcement on banks
By: News24Wire 15th September 2016 Fellow Cabinet members were not forewarned of Mineral Resources Minister Mosebenzi Zwane’s announcement of a judicial inquiry into banks and read about it in the media, Cabinet spokesperson and Presidency Minister Jeff Radebe said on Thursday. “No, I also like all of you read it in the... →

Mineral Resources Minister Mosebenzi Zwane
Deal to boost access to finance for Côte d’Ivoire smallholder farmers
By: Mia Breytenbach 9th September 2016 The International Finance Corporation (IFC), a member of the World Bank Group, chocolate producer Barry Callebaut and the Netherlands Sustainable Trade Initiative (IDH) have announced a $9-million risk-sharing agreement to help up to 100 000 smallholder cocoa farmers in Côte d’Ivoire to access... →

NECESSARY GROWTH The $9-million risk-sharing agreement is aimed at helping smallholder cocoa farmers to access the credit needed to grow production and earnings
Old Mutual to increase agriculture, real estate investment through Nigerian partnership
By: Mia Breytenbach 9th September 2016 Asset management group Old Mutual Investment Group (OMIG) plans to expand its commercial real estate and agriculture footprints in Africa through a partnership with wealth fund the Nigerian Sovereign Investment Authority (NSIA). The partnership, signed in Abuja, Nigeria, last month, will allow... →

GROWING OPPORTUNITY The aim of the agriculture investment agreement is to improve Nigeria’s food security and promote rural economic development
Risk of malfunctioning algorithms leads to calls for new AI regulation
By: Schalk Burger 9th September 2016 Although artificial intelligence (AI) is set to improve financial institutions' risk management, credit provision, asset management, trading and hedge funds, certain risks will remain, says multinational law firm Baker & McKenzie Banking and Finance partner Chris Hogan. These risks include... →
Despite payment interventions, 'much to be done' to improve 30-day payments to suppliers – Radebe
By: Mia Breytenbach 6th September 2016 While there has been a consistent improvement in the setting up of systems to enable government institutions to pay suppliers and service providers within 30 days, the pace of the improvement is still inadequate, states Minister Jeff Radebe. “We are the first to concede that much is [still] to be... →

Egyptian petrochemicals complex expected 2021
2nd September 2016 Egyptian petrochemicals company Carbon Holding's proposed Tahrir Petrochemicals Complex is to be located within the Ain Sokhna industrial zone, near the Gulf of Suez. Major contracts for the project have been awarded, with the construction work expected to start later this year and commissioning... →

Phase 1 of refinery expansion project to be completed this year
2nd September 2016 The Cameroonian government is planning to complete the first phase of the expansion and modernisation works at national refinery company Sonara’s refinery later this year, which will lead to an increase in production. According to local media, the refinery – the only one in the country – has been... →

Supplier development programme launched for black businesses
2nd September 2016 Oil refining company Chevron Corporation’s local subsidiary Chevron South Africa (SA) – which markets its fuel under the Caltex brand – last month announced a new enterprise and supplier development (E&SD) programme aimed at improving access to its value chain for black-owned businesses. The... →

Blockchain technology can improve multistakeholder process integrity
By: Schalk Burger 12th August 2016 The blockchain technology promises to improve the integrity and transparency of a variety of process and workflows in industry and commerce, says Wipro global treasury and payments services executive business advisor Mary Ann Francis. Blockchain is a method that relies on stakeholders having... →
Private-equity firm aims to raise R2bn through listing of unit
By: Mia Breytenbach 5th August 2016 Ethos Capital has received about R1.1-billion from investors, including investment adviser Ethos Private Equity (EPE), following its intention to list its issued A ordinary share capital on the main board of the JSE. The listing, scheduled for this week, is subject to market conditions and the... →

DIVERSIFIED STRATEGY Ethos is listing as an investment entity in the ‘Financials – Speciality Finance’ sector of the JSE
Ethos to list on JSE main board, aims to raise up to R2bn
By: Mia Breytenbach 18th July 2016 Ethos Capital intends to list its issued A ordinary share capital on the main board of the JSE. The listing would be subject to market conditions and the requisite approvals by the JSE. Rand Merchant Bank, a division of First Rand Bank, is acting as the financial adviser, sole global coordinator,... →

Imperial acquires 70% of Sasfin Premier Logistics to create trade expert
By: Irma Venter 12th July 2016 The Imperial group said on Tuesday that it had entered into an agreement with Sasfin to acquire 70% of Sasfin Premier Logistics, a wholly owned subsidiary of Sasfin. Sasfin Premier Logistics would be renamed Imperial Sasfin Logistics. →

France, Switzerland to finance small-scale green energy projects in South Africa
By: Donna Slater 24th June 2016 An agreement to finance a technical assistance programme to assist banks in financing small scale renewable energy and energy efficiency projects in South Africa was signed on May 26 by the French Agency for Development (AFD) and the State Secretariat for Economic Affairs of Switzerland (Seco). →
Rockwell Automation in BEE deal, moves to new offices
By: Donna Slater 24th June 2016 Industrial automation and information company Rockwell Automation has expanded its presence in South Africa with the opening of its new offices in Randburg, in Johannesburg, on June 8. →
South African problems pose difficulties for German companies
By: Simon Sonnekus 17th June 2016 German companies aiming to enter the South African market in the near future will face several adversities, including visa regulations, a weakening currency and stringent regulations, says the Southern African–German Chamber of Commerce and Industry (SAGCC). Germany, South Africa’s biggest... →
World our oyster, says Bidcorp CEO after unbundling and listing
By: Mia Breytenbach 10th June 2016 Following the listing on the Johannesburg Stock Exchange (JSE) of international broad-line foodservice group Bid Corporation Limited (Bidcorp), which houses the international and local foodservice operations and assets unbundled from Bidvest Group Limited, at the end of last month, Bidcorp CEO... →

INVESTMENT INROAD There are currently eight companies in the Johannesburg Stock Exchange food retailers and wholesaler sector with a market cap of about R220-billion
Bank showcases new modular branch design
By: David Oliveira 3rd June 2016 First National Bank’s (FNB’s) new modular branch design, which was piloted at the newly opened Mall of Africa, cost about 30% less than traditional designs, FNB innovation head Yolande Steyn said at the company’s innovation media breakfast, in Sandton, last month. The new branch design was not... →
South Africa must grow its small business community – economist

By: Ilan Solomons 31st May 2016 It is impossible for South Africa to be economically successful without a much bigger, more vibrant small business community. It is an area of the economy that has huge potential to create many much-needed job opportunities, financial services provider Stanlib economist Kevin Lings told attendees... →
Bidcorp lists on JSE, creates platform for growth 
By: Mia Breytenbach 30th May 2016 International broad-line foodservice group Bid Corporation Limited (Bidcorp), which houses the international and local foodservice operations and assets unbundled from Bidvest Group Limited, has listed on the Johannesburg Stock Exchange (JSE) in an attempt to facilitate future growth. Speaking at... →
To regain FDI ranking, South Africa must ‘rebuild trust’ with investors 
By: Terence Creamer 20th May 2016 South Africa’s absence – for the second year running – from the top 25 countries listed in AT Kearney’s annual foreign direct investment (FDI) confidence index is suggestive of heightened investor concern about perceived political, policy and regulatory instability. Africa region head Wim... →

FNB highlights innovations successes at media breakfast
By: David Oliveira 12th May 2016 First National Bank’s (FNB’s) new modular branch design, which was piloted at the newly opened Mall of Africa, cost about 30% less than traditional designs, FNB innovation head Yolande Steyn said at the company’s innovation media breakfast, in Sandton, on Thursday. The new branch design was not... →

New infrastructure project development approach needed to address African infrastructure gap
By: David Oliveira 10th May 2016 An alternative approach to infrastructure project development in Africa would be needed to address the significant infrastructure gap on the continent, International Finance Corporation (IFC) infrastructure and natural resources global director Sujoy Bose told delegates at the africainvestor (Ai)... →
Africa’s 2015/16 growth projections will be difficult to meet
By: David Oliveira 6th May 2016 Following the drop in commodity prices and China’s demand for Africa’s resources, African economies were slumping and gross domestic product growth was stagnating in most of the continent’s emerging markets, said the New Partnership for Africa’s Development, or Nepad, Business Foundation (NBF)... →
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