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 | | President Cyril Ramaphosa has approved the Pension Funds Amendment Bill, which amends pension-related legislation to enable the implementation of the recently legislated two-pot retirement system geared towards bolstering retirement savings...read |
|  | | The deadline for retirement funds to submit rule amendments for the ‘two-pot retirement system’, due to come into operation on 1 September 2024, has reportedly been extended...read |
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 | ISSUED BY BIZCOMMUNITY.COM Reaching a dynamic and diverse business-minded audience with daily frequency, and publishing job vacancies via Bizcommunity’s platforms is an essential addition to maximising your company’s market presence and promoting employment opportunities to the nation... Read |
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| Finance |
 | KARL BLOM, LERATO NIKLAAS, KENAN PETERSEN AND DAVID DONKOR On April 18, 2024, the South African Reserve Bank unveiled a roadmap to enhance digital payments with a 17-point plan. The agriculture sector stands to gain from improved efficiency and transparency, though stakeholders must adhere to regulatory requirements for compliance and security... Read |
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| Accounting & Auditing |
 | ANGEL SITHOLE, ISSUED BY SAICA Technology is always great when it’s used in an ethical manner... Read |
 | ISSUED BY CORONATION Beloved South African brand Coronation - known for its famous tagline ‘Trust is Earned’ - is launching a fresh new brand campaign with the theme of ‘Invest early, you’ll be so happy you did’... Read |
 | ANGEL SITHOLE, ISSUED BY SAICA The last five years have seen an improvement in the audit profession when it comes to audit failures... Read |
| Banking |
 | KATJA HAMILTON CrowdStrike reports many affected devices are back online after its update caused a major IT outage. Capitec Bank and other global businesses were disrupted, but services have been restored... Read |
 | Standard Bank refinances and upsizes Motus' multi-currency facility to GBP150m, supporting international growth and aligning with sustainability targets... Read |
 | The Sanlam Foundation is funding 30 women entrepreneurs as part of the Sanlam Foundation Enterprise and Supplier Development programme... Read |
 | Nedbank partnered with PALS to host a Responsible Leadership Symposium in White River, Mpumalanga, with Stellenbosch University Business School. The event aimed to unite farmers to tackle South Africa’s land reform and other critical challenges... Read |
| Economy |
 | DataEQ has released its latest South African Retail Sentiment Index, showcasing consumer perceptions of the nation's top grocery retailers... Read |
 | NTUTHUZELO GCOLO While increased jobs, more social grants, and a lower cost of living are all key focus areas of addressing poverty in one of the world’s most unequal countries, an often-neglected part of poverty is the concept of the working poor... Read |
| Education & Training |
 | ISSUED BY AFRICAN RESPONSE To solve South Africa’s dismaying youth unemployment challenge, we must end the pervasive narrative that South Africans, and particularly young unemployed South Africans, are reliant on the government... Read |
| Financial Services |
 | Buy Now Pay Later (BNPL) service provider, Payflex has launched its latest payment option, "Pay in 3"... Read |
 | President Ramaphosa signed the National Health Insurance bill into law on 15 May 2024, aiming for universal healthcare but the bill faces significant public- and private-sector opposition... Read |
 | ISSUED BY DIESELBROOK In an exciting step towards fostering growth and prosperity for South Africa’s small and medium-sized enterprises (SMEs), Preference Capital (under the Cash Flow Capital brand), in partnership with Absa, have unveiled an exciting new loan product... Read |
| Fintech |
 | South African travel-focused fintech TurnStay.com has secured $300,000 (over R5.4m) in funding from Silicon Valley and New York investors DFS Lab and DCG. The investment aims to expand operations across Africa and bolster existing market presence... Read |
| Markets & Investment |
 | KATJA HAMILTON South Africans' hopes were shattered as the MPC kept the repo rate at 8.25% and the prime lending rate at 11.75%. The decision, influenced by four members favoring an unchanged stance and two preferring a 25 basis point cut, has resulted in significant property market value erosion. Read |
 | ANDRE CILLIERS Biden's withdrawal from the Presidential race introduces uncertainty and risk aversion, expected to support the Dollar as a safe haven asset... Read |
 | ANDRE CILLIERS Donald Trump accepted the GOP nomination, boosting the Dollar but capping gains due to rate cut bets... Read |
 | Celebrating outstanding contributions to the burgeoning impact investment sector across the African continent, the 2024 Africa Impact Investment Award winners were announced as part of the annual Africa Impact Summit last week... Read |
| Taxation & Regulation |
 | As South Africa grapples with high poverty levels and the cost of living, the Government of National Unity (GNU) will look to expand the range of essential food items exempt from value-added tax (VAT)... Read |
| Africa |
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 | ELISHA BALA-GBOGBO AND AND MACDONALD DZIRUTWE Nigeria fined Meta Platforms $220m, its competition watchdog said on Friday, after investigations showed data-sharing on social platforms violated local consumer, data protection and privacy laws... Read |
| Business |
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 | LINDSEY SCHUTTERS The outage is believed to be linked to a glitch in the Falcon threat-detection software developed by cybersecurity company CrowdStrike... Read |
 | DALIT ANSTEY Boards should be aware of changes that are on the horizon to South Africa's ESG reporting landscape, including the potential incorporation of the ISSB Standards. However, the mechanics still need to be fleshed out... Read |
| New Press Office on Bizcommunity | More | Join |
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 | Air Products South Africa manufactures, supplies and distributes a wide variety of industrial and specialty gas products to the Southern African region. |
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