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Financial News
Green bonds provide balance to traditional investment vehicles
By: Donna Slater 27th September 2021 Compared with traditional impact investment vehicles, which tend to be private equity, green bonds provide a “nice balance” in achieving a desired investment impact, environment, social and governance (ESG) advisory firm EBS Advisory CEO James Brice said during the Southern Africa Green Bonds... →
Payabill launches online international payment solution for SMEs
By: Irma Venter 27th September 2021 Local fintech startup Payabill has developed a product where it takes the risk of settling the bills of international suppliers directly for qualifying small and medium-sized enterprises (SMEs), which apply for the finance solution “using a simple and quick digital process”. “Small businesses... →

Africa Investment Forum’s Market Days to be held from December 1 to 3
By: Donna Slater 17th September 2021 This year’s Africa Investment Forum’s Market Days – a multi-stakeholder, multi-disciplinary platform that advances private and public-private partnership projects to bankability stage, raises capital and accelerates deals to financial closure – will take place in Abidjan, Côte d’Ivoire, from... →
Major banks remain resilient, focus turns to new skills and new strategies
By: Schalk Burger 17th September 2021 The four largest banks in South Africa – Absa, FirstRand, Nedbank and Standard Bank – remain resilient, with healthy, stable and above regulatory minimum liquidity and coverage. Their results were also buoyed by underlying business momentum and risk profiles performing better than expected,... →
South African taxpayers note improvements in some Sars processes
By: Tasneem Bulbulia 17th September 2021 Over the past few years, South Africa’s tax landscape has undergone significant change, with a number of leadership, structural and policy changes; and moreover, the Covid-19 pandemic has impacted government coffers, disrupted businesses and placed tremendous financial strain on individuals. In... →
Core lending, interest income drive DBSA’s profit up by 182%
By: Donna Slater 17th September 2021 Development finance institution (DFI) the Development Bank of Southern Africa (DBSA) reports that its net profit for the financial year ended March 31 had increased by 182% to R1.4-billion, compared with the net profit of R504-million recorded for the 2020 financial year. CEO Patrick Dlamini... →
Sefa provides $1m to modernise Africa’s hydropower fleet
By: Tasneem Bulbulia 17th September 2021 African Development Bank (AfDB) managed fund, the Sustainable Energy Fund for Africa (Sefa), has approved a $1-million grant for the modernisation of Africa’s aging hydropower fleet. The grant will fund the mapping and evaluation of African hydropower facilities’ rehabilitation needs. →
UIF urges finalisation of outstanding Covid-19 Ters applications before December deadline
By: Donna Slater 15th September 2021 The Unemployment Insurance Fund (UIF) appeals to employers to resolve any errors on their submitted Covid-19 Temporary Employer/Employee Relief Scheme (Ters) portal to enable the fund to finalise any outstanding claims. The UIF notes that claims cannot be finalised until certain corrections are... →
AfDB supports intra-Africa trade with $50m facility with Standard Chartered
By: Creamer Media Reporter 15th September 2021 The African Development Bank (AfDB) board has approved a $50-million Trade Finance Unfunded Risk Participation Agreement (RPA) facility between the AfDB and Standard Chartered Bank. The agreement is expected to boost intra-Africa trade, promote regional integration and contribute to the reduction... →
African Rainbow Capital’s portfolio expands on back of fair value gains
By: Donna Slater 14th September 2021 JSE-listed African Rainbow Capital’s (ARC’s) intrinsic portfolio value increased by 16.3% from R10.55-billion as at June 30, 2020, to R12.27-billion as at June 30, this year. Net fair value gains accounted for R909-million of the increase and net investments for the remaining R810-million... →
Earned wage access technology can help change payday debt cycles
By: Schalk Burger 14th September 2021 An earned wage access (EWA) solution allows employees to access a portion of their earned wages at any time during the month, rather than borrowing from their employer or taking out unsecured loans to cover living expenses, says EWA financial technology organisation Paymenow co-founder and MD... →
Govt launches portal for businesses affected by unrest
By: Tasneem Bulbulia 14th September 2021 The South African government has launched an online Business Loss Portal for the registration of businesses that were affected by the unrest which took place during July 9 to 19 in KwaZulu-Natal, Gauteng and other affected areas in the country. As part of the relief package announced by President... →
ICA urges Sasria to start paying out partial claims to assist riot-affected businesses
By: Simone Liedtke 13th September 2021 Public loss adjuster Insurance Claims Africa (ICA) is urging the South African Special Risk Insurance Association (Sasria) to urgently pay riot-related claimants 30% of their insured sum upfront, in order to assist cash-strapped businesses get back on their feet as quickly as possible and prevent... →
Competition Commission advances efforts to mitigate price gouging during pandemic 
By: Tasneem Bulbulia 10th September 2021 The Covid-19 pandemic has led to a spike in price gouging and complaints from customers, and the Competition Commission of South Africa had to, and continues to, focus efforts on mitigating this situation, and has learnt several lessons from this. This was indicated during the a webinar hosted by... →
Infrastructure upgrades for eThekwini municipality
10th September 2021 Consulting engineers Bosch Projects and financial institution Bosch Capital – members of the Bosch Holdings group of companies – work closely with municipalities nationally to assist with upgrading infrastructure. →
Nedbank initiative aims to uplift entrepreneurs, side hustlers and informal traders
By: Tasneem Bulbulia 7th September 2021 Finance institution Nedbank is bringing together some of its most impactful programmes, as well as those of its partners, to support, grow and inspire entrepreneurs and small businesses in the informal sector under the ‘Together, Beke le Beke’ initiative. This initiative will see entrepreneurs... →
weFix, Restore SA partnership aims to reconstruct looted SA businesses
By: Tasneem Bulbulia 7th September 2021 Device repair specialist weFix co-CEOs Malcom Daitz and Ariel Kolin are contributing to a partnership with Restore SA to help reconstruct the livelihoods of South Africans affected by the riots lasts month. The Restore SA initiative, started by Joshua Cox of Fix Forward, focuses on connecting... →
Covid-19 disrupted private equity market, panel encourages local confidence
By: Simone Liedtke 3rd September 2021 The Covid-19 pandemic has been one of the largest disruptors to global industries in history and that includes the private equity (PE) market. That disruption has resulted in practical changes in how fundraising took place over the last year, PE company Actis partner Natalie Kolbe said this week. →
RMB launches ESG-risk-measuring platforms to support sustainable investing
By: Donna Slater 2nd September 2021 Financial services provider Rand Merchant Bank (RMB), a division of FirstRand Bank, has launched environmental, social and governance- (ESG-) measuring platforms – ESGo! and ESGNow. The platforms are envisaged to drive sustainable finance by offering client interfaces that enable more informed... →
Importance of incentives for emerging filmmakers emphasised
By: Tasneem Bulbulia 31st August 2021 The Department of Trade, Industry and Competition (DTIC) established the South African Emerging Black Film Incentives as a vehicle to promote transformation in the film industry and to trigger the participation of black filmmakers in the mainstream economy, which up until 2014 had not mirrored... →
State insurer to raise cover for unrest following riots
By: Reuters 24th August 2021 South Africa's only insurer covering political violence will increase its premiums to cover a rise in reinsurance costs following some of the worst unrest in decades, the head of the state-owned company told Reuters. More than 300 people died and around 3 000 stores were looted when protests and... →
FSCA suspends ZAR X’s exchange licence due to noncompliance
By: Simone Liedtke 24th August 2021 The Financial Sector Conduct Authority (FSCA) has, in terms of Section 60(1) of the Financial Markets Act (FMA), suspended the exchange licence of financial institution ZAR X, effective from August 20. The suspension resulted from ZAR X’s noncompliance with Section 8(1)(a) of the FMA, read with... →
UIF to open online system for unrest relief scheme on Aug 25
By: Tasneem Bulbulia 23rd August 2021 The Unemployment Insurance Fund (UIF) will start accepting applications for the Workers Affected by Unrest (WABU): Temporary Financial Relief Scheme from August 25. The financial relief scheme has been established to assist workers whose workplaces have been closed owing to the recent unrest in... →
Old Mutual appoints Vuyo Mpako as New Growth and Innovation MD
By: Schalk Burger 20th August 2021 Financial services group Old Mutual has appointed Vuyo Mpako MD of its newly formed New Growth and Innovation (NGI) office. The NGI office has been designed to deliver long-term shareholder value by sustainably growing earnings through existing and new markets. →
Economic recovery support interventions aim to mitigate unrest impact for businesses 
By: Tasneem Bulbulia 20th August 2021 The R3.75-billion economic recovery support package announced by Trade, Industry and Competition Minister Ebrahim Patel, represents a united front from entities for the restoration of businesses that were adversely affected during the violent looting and unrests that took place in KwaZulu-Natal... →

Investec launches Global Sustainable Equity Fund, local replica on the horizon
By: Simone Liedtke 18th August 2021 Development finance institution Investec’s Global Sustainable Equity (GSE) Fund prioritises investment into companies doing good, with the aim of helping investors do well. Through the fund, investors are able to invest in companies that it believes “can provide attractive investment returns over... →

UK Climate Investments fulfils commitment, investing R500m in African renewables fund
By: Tasneem Bulbulia 18th August 2021 Pilot investment programme UK Climate Investments on August 18 fulfilled its cornerstone commitment of R500-million to help establish Africa’s first dedicated renewable energy yieldco, which is managed by majority black-owned fund manager Revego Fund Managers. Revego aims to tackle the challenge... →
JP Morgan launches R340m DTIC-approved equity equivalent investment programme 
By: Simone Liedtke 17th August 2021 Financial services multinational JP Morgan has launched the very first Department of Trade, Industry and Commerce- (DTIC-) approved equity equivalent investment programme (EEIP), which forms part of government’s broad-based black economic empowerment framework. The EEIP, funded by a R340-million... →

Trade, Industry and Competition Minister Ebrahim Patel
TymeBank model to be replicated in the Philippines
By: Tasneem Bulbulia 17th August 2021 South African digital bank TymeBank will export its business concept and experience to its international sister company Tyme’s newly established banking operations, GOtyme, in the Philippines. GOtyme, which has had its digital banking licence application approved by the Philippines central bank,... →
Property company the first in South Africa to accept crypto for rental deposits
By: Tasneem Bulbulia 17th August 2021 Affordable residential and student housing specialist Quorum Holdings is the first in South Africa to accept rental deposits in cryptocurrency, and to allow tenants to potentially benefit from an increase in value, the company says in a statement. While rental deposits are standard practice in... →
Digital platforms can provide scale and access through partnerships
By: Schalk Burger 13th August 2021 The use and growth of digital platforms worldwide will provide greater value to users, but also enable and require a variety of companies to provide their services at scale to solve specific user requirements, which necessitates partnerships and greater collaboration among value chain... →
DTIC opens R3.75bn relief package for businesses affected by civil unrest
By: Donna Slater 11th August 2021 Eligible businesses can now apply for loans under the R3.75-billion economic recovery support package, announced by Trade, Industry and Competition Minister Ebrahim Patel a fortnight ago to assist businesses that were impacted by the mid-July civil unrest in KwaZulu-Natal and Gauteng. The DTIC... →
Green bonds could help South Africa finance its just energy transition
By: Tasneem Bulbulia 11th August 2021 Green bonds can help South Africa finance a just energy transition, but there are also challenges that must be mitigated as issuers and investors look to capitalise on the opportunities these bonds present. This was indicated by speakers during the Financing South Africa’s Energy Transition’s... →
African firms eye trade boost from global business card
By: Reuters 10th August 2021 His company may have been operating for 61 years, but that counts for nothing when Second Muguyo, finance manager at Zimbabwean copper and silver goods manufacturer Copperwares, tries to access overseas credit. The problem? Foreign lenders and trade partners don't know the company well enough. So... →
Sars to implement emergency tax relief measures
By: Tasneem Bulbulia 2nd August 2021 The South African Revenue Service (Sars) will implement several emergency tax relief measures as announced by President Cyril Ramaphosa, in response to the continuing Covid-19 pandemic and recent unrest that are aimed at helping affected and tax-compliant businesses to recover and ensure... →
Old Mutual Insure pledges R10m to help SMEs rebuild following riots
By: Tasneem Bulbulia 27th July 2021 Insurer Old Mutual Insure says it is working quickly to finalise looting-related claims – which it is mandated to handle on behalf of State-owned insurance company South African Special Risks Insurance Association (Sasria) – within three weeks so that affected small and medium-sized enterprises... →
S&P not planning immediate rating actions as a result of civil unrest
By: Donna Slater 27th July 2021 Ratings agency Standard & Poors (S&P) Global Ratings does not expect to take any immediate rating actions in the wake of the mid-July civil unrest that affected KwaZulu-Natal and parts of Gauteng. The unrest, which included widespread looting, violence, vandalism, loss and damage of stock, left... →
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