Kaya Biz

Santam hammered by worst natural catastrophe in its history.

The net underwriting margin for conventional insurance was 2.3% (June 2021: 6.7%), below the group’s target range of 5% to 10%. A significant contributor to the underwriting results were the devastating floods that affected KwaZulu-Natal (KZN) during April 2022. These were, however, offset to some extent by a reduction in…

1 Sep 2022 1AM 9 min

Shoprite's Money Market account evolves into fully-fledged bank account.

It’s official: Shoprite‘s Money Market Account is now a full-fledged, transactional bank account, the first ever offered by a South African retailer – and the lowest cost entry-level bank account on the market. Clients pay a flat R5 fee for cash withdrawals. Every other transaction is free, and there are…

31 Aug 2022 12AM 10 min

For sale: 5 million barrels of oil, owned by the SA government.

The Strategic Fuel Fund (SFF) has taken the first steps to sell a portion of SA's crude oil reserves by calling for bidders to register for pre-approval ahead of the bidding day. The proceeds of the sale – which it is hoped will be around R6 billion – will be…

31 Aug 2022 12AM 3 min

What investors look for before funding tech start-ups.

As media and ecosystem lead at AfricArena, Nathaniel Witbooi has peaked beyond the veil of investment, boasting high-level interaction with investors, start-ups and the ecosystem from a macro perspective. He believes the joys of being sector agnostic has accelerated his journey in understanding and learning from some of Africa’s finest…

31 Aug 2022 12AM 15 min

LEGALLY SPEAKING: Bankruptcy in South Africa - ins and outs.

As a result of high inflation, more and more South Africans are finding themselves with insurmountable debt. If you’re deeply in debt, filing for bankruptcy could allow you to rebuild your financial life. However, this is something to consider only after you’ve exhausted all other options. Here’s what you should…

31 Aug 2022 12AM 20 min

EKASINOMICS: Sovereign Africa Ratings - a black run sovereign ratings business.

Sovereign Africa Ratings (SAR), a new entrant in the highly competitive sovereign ratings business where it competes with the likes of Moodys’, Standard and Poors and Fitch, has appointed its first Chief Operating Officer, Mr Zwelibanzi Maziya. Dr Sifiso Falala, the founder of Sovereign Africa Ratings welcomed this new appointment…

31 Aug 2022 12AM 18 min

Meet Buhle Madlala who is making cycling affordable in townships.

Creating jobs was also at the core of what the National Cycling Academy Forum (NCAF) did since it was looking at ways to support the interests of the cycling sport which was generally not cheap, says the National Cycling Academy Forum (NCAF). Buhle Madlala, the co-founder of this organisation for…

31 Aug 2022 12AM 12 min

Old Mutual ready to put Covid volatility behind it as earnings rocket to 87%.

The Group reported an 87% increase in Results from operations on the back of strong operating performance and muted Covid-19 impacts. Despite weaker market returns, Return on net asset value improved to 9.6%, due to the unbundling of Nedbank thus delivering on our promise to simplify the Group’s capital structure…

30 Aug 2022 12AM 9 min

Rebosis enters business rescue: suspends trading on the JSE - SAIBPP reacts.

The South African Institute of Black Property Practitioner's (SAIBPP) is saddened by the news that Rebosis has resolved to enter into voluntary business rescue. Rebosis was founded by Sisa Ngubulana in 2010 and the company was listed on the JSE in 2011. It was the first black majority owned and…

30 Aug 2022 12AM 18 min

ITS MY HOUSE: Property Within a Deceased Estate - What You Need to Know.

A deceased estate comes into existence when a person dies and leaves property or a will. Such an estate must then be administered and distributed in terms of the deceased’s will or, if there is no valid will, in terms of the Intestate Succession Act (Act 81 of 1987). The…

29 Aug 2022 11PM 19 min

Why the construction sector still needs more women players.

The greater participation of women in the construction sector will only be achieved through positive initiatives that will result in culture changes and the creation of equitable work environments. There are valid concerns about the low level of women ownership of construction companies in South Africa and a stagnating trend…

29 Aug 2022 11PM 15 min

TECH & INNOVATION: Concerns over the unlawful data collection by tech companies.

Growing concerns over the unlawful collection of data by tech companies Google has been found to be collecting the highest amount of user data among all the other tech companies, including Facebook, Amazon, Tiktok, Apple and others. The study found that YouTube, which is owned by Google, mostly collects your…

29 Aug 2022 11PM 11 min

Walmart puts in R6.4-billion offer for beleaguered Massmart.

The board expects to have a full report out to shareholders in a circular in September and Dlamini says this is an opportunity for minority shareholders to realise immediate value in an environment where there are no near-term catalysts for a Massmart re-rating. The generous offer, a 53% premium to…

29 Aug 2022 12AM 10 min

What we know about the case against former Transnet executives Singh and Molefe.

Two of the most senior officials involved in state capture during former president Jacob Zuma's tenure have been arrested, marking a significant milestone in the ongoing effort by the National Prosecuting Authority's (NPA) Investigating Directorate (ID) to fulfil its mandate. Former Transnet and Eskom chief financial officer Anoj Singh and…

29 Aug 2022 12AM 8 min

WEALTH CREATION :Considerations when building your investment portfolio.

The importance of saving and investing from a young age cannot be emphasised enough, yet people are scared to start saving or investing – if not leave it to later in life, which is not always the best option. Your investment decisions must centre around your investment goals. Samukelo Zwane,…

29 Aug 2022 12AM 13 min

CAREERS CORNER: Subtle signs your co-workers are sabotaging your success.

Sabotage is a strong word. But it happens in the workplace more often than you think. Dr. Cheryl Carr, organizational psychologist, business leadership strategist, business professor, trainer, and author, says career sabotage can be divided into two categories: corporate or individual. This type of toxic experience might even lead you…

29 Aug 2022 12AM 21 min

Yes, SARS can search and seize your property without a warrant.

The Tax Administration Act in South Africa permits the warrantless search and seizure of a taxpayer’s property by the South African Revenue Service. However, this has been under scrutiny for many years due to its potential to infringe the right to privacy as enshrined in the South African Constitution. A…

29 Aug 2022 12AM 10 min

SA's farmers will be pushed to plant less because of Botswana, Namibia ban.

South Africa is not likely to face a vegetable glut because of Botswana's and Namibia's import bans, as farmers in the country will be forced to plant fewer vegetables, a move that will hurt export revenue and lead to job losses in the sector. Van der Rheede said South Africa…

29 Aug 2022 12AM 9 min

The types of businesses that receive the most consumer complaints in SA.

The Consumer Goods and Services Ombud (CGSO) has published its annual report for the period ending February 2022, highlighting the most complained about businesses and services over the past year. The report shows that telecoms, satellite services, retailers and manufacturers of appliances and furniture generate just under 70% of consumer…

25 Aug 2022 12AM 12 min

Call for South Africa to overhaul its tax system, including a VAT hike.

South Africa should overhaul its tax regime to fund economic-growth enhancing reforms and reduce inequality now that it’s reached the limits of budget adjustments that were aimed at reducing fiscal deficits and reining in debt, the OECD recommended. Africa’s most-industrialized economy is battling surging debt, which the government expects to…

25 Aug 2022 12AM 9 min