IOL Independent Online – Business News

IOL Independent Online – Business News

• Ruan Jooste's Rants and Cents: Big changes coming in financial services dispute resolution
  In a joint Annual Report, the Ombudsman for Long-term Insurance (Olti) and the Ombudsman for Short-term Insurance (Osti), which has as its theme “Shaping our Tomorrow”, said this week that the highlight of the 2022 financial year was Finance Minister Enoch Godongwana's recognition of the Ombud Council under the Financial Sector Regulation Act. The minister […]
• The last mile of load shedding: what it really means
  With a Stage 16 draft in place, and stage 8 load shedding almost put into practice, it's important that individuals and organisations get ready for what might happen if the lights go out.The National Rationalised Specifications (NRS) Association outlined the ‘worsening electricity crisis' and is assuring the ‘public that proactive and detailed planning is being […]
• International Church App offers digital solution to remain connected
  As the world concludes the marking of Africa Month this week, the International Church App (ICA) has the potential to revolutionise the local and African market by offering churches a comprehensive and transformative digital solution.In an exclusive interview with Business Report this week, the digital solutions provider, ICA's founding director and CEO Lucky Mbiko, said […]
• Suffering from work stress? These apps may help
  Employee mental health is fast becoming the new frontier for businesses.This is because happy employees are more productive according to numerous studies. A recent survey of 3,400 people in 10 countries by UKG's Workforce Institute revealed that 60% of workers worldwide said that their job was the biggest factor affecting their mental health.According to the […]
• As Africa edges ahead with economic growth, South Africa is left in the dark
  The outlook for South Africa continues to remain gloomy, while the rest of the continent at large steams ahead towards sunnier skies. This comes as the African Development Bank (AfDB) said this past week that Africa's economic growth is set to edge upwards in 2023 and 2024 while closer to home, South Africa's economy is […]
• Momentum urges sponsors to bridge the gender pay-gap in sport
  Thabo Makwakwathabo.makwakwa@inl.co.zaWITH women earning less than men in sports and making it almost impossible for women to become financially independent, Momentum's head of marketing Charlotte Nsubuga-Makusa has said that her company has taken a bold journey towards influencing change.Speaking to Independent Media last week ahead of the Sports Seminar held at the Exhibition Centre in […]
• SA's JET: Imminent loss of jobs as rich countries benefit
  Thabo Makwakwathabo.makwakwa@inl.co.zaWITH the rich countries strategically championing the move from fossil fuels to renewable energy sources, middle-income countries such as South Africa face economic disaster as communities thriving on the coal-mining industry, could turn into ghost towns due to the imminent loss of hundreds of thousands of jobs.The governments of France, Germany, the United Kingdom […]
• Worker who has been on sick leave sues company for not increasing salary
  Sick leave is an employee right, but what happens if it becomes indefinite? Does the company have an obligation to pay?For UK man Ian Clifford, a former worker at the US's tech pioneer IBM, this became a reality. Clifford has reportedly been medically retired for 15 years.He nevertheless continued to get R1 307 516 every year as […]
• From vision to reality: We need younger “Dangotes” in Africa
  By Kizito OkechukwuIt is reported that more than 600 million people in Africa do not have access to electricity. This makes the continent the least electrified in the world. Even though many more do have access, one could easily ask how many of these have access to reliable electricity.In Nigeria, about 65% of homes have […]
• Compounding - it's about the end game
  By James NewellHaving recently enjoyed reading Morgan Housel's “The Psychology of Money” I was reminded of the crucial role compounding can play in multi-generational wealth creation. While the stories about arguably the greatest investor of our time, Warren Buffet, are legion, this one I didn't know. By James NewellUnlike most of us, Buffet had become […]
• Words on Wealth: Investing in gold: cases for and against
  Last week, exploring gold as an investment, I dug up some interesting facts about the yellow metal and looked at the history of the gold price over the last half-century. Today I focus on the pros and cons of investing in gold and the direct and indirect ways in which you can invest.Many investors turn […]
• Run on numbers: Credit give, and credit due
  Prior to the greylisting of South Africa, most citizens were still living with a naive impression that all is well with our financial authorities. We saw an impressive (in appearance and size) South African Reserve Bank (SARB) building and Financial Sector Conduct Authority (FSCA) headquarters in Pretoria, and an ever-larger growing list of regulations was […]
• South African labour unions reject Eskom's latest wage rise offer
  The three recognised trade unions at struggling South African power utility Eskom have rejected its revised 5.25% pay rise offer at a third round of wage talks, the company said on Friday.The National Union of Mineworkers (NUM), the National Union of Metalworkers of South Africa (NUMSA) and Solidarity have been in negotiations since April with […]
• No more notches in the belt left to tighten for consumers after rate hike
  Consumers in South Africa had to endure another blow after the South African Reserve Bank (SARB) hiked the repurchase rate (repo rate) once again. The SARB governor, Lesetja Kganyago announced a 50 basis point hike to the repo rate meaning that the rate will now increase to 8.25%, taking the prime lending rate to 11.75%. […]
• Lapsed premiums put South Africans at further financial risk in a tough economy
  By Brina BiggsAccording to ASISA, in 2022, the market saw a million more life insurance policies lapse compared to the previous year, with 8.4 million policies lapsing, and nearly 700 thousand savings plans being cashed out early. This comes as no shock given the fact that consumer income and buying power decreased by 26.6% between […]
• Proudly SA: A more pragmatic approach to localisation is key to resilience amid uneven globalisation
  By Eustace MashimbyeDebates about localisation tend to take the form of overworn ideological talking points and are usually held at a high level of abstraction. But in the real world, there are not always one-size-fits-all policy solutions. And with the increased global turbulence of the last few years, old axioms about trade and industrial policy […]
• Why Disney's Star Wars hotel failed so fast
  Not all that long ago, in a galaxy that looks a lot like Central Florida, Disney embarked on a mission that would take its brand of themed entertainment into hyperspace.It wouldn't just be a Star Wars hotel designed to space-opera specifications. It would be an entire immersive universe, complete with storylines, aliens, droids and at […]
• Logistics drive Africa's trade and economic transformation
  By Clement BlancThe Africa Day 2023 celebrations provided an opportune time to reflect on the continent's progress and potential for growth.Globally, trade has emerged as a robust economic growth and recovery driver, despite rising inflation and supply constraints, and Africa is no exception. The DHL Trade Growth Atlas 2022 predicts that Sub-Saharan Africa (SSA) will […]
• Advice for entrepreneurs: how to learn from the cycle of failure, perseverance
  Currently, South Africa has one of the highest small business failure rates in the world, with the majority of small businesses failing within their first year. Limited access to funding, ineffective cash flow management and the complexity of the country's regulatory environment are among the leading reasons for this high rate of failure. This is […]
• You are paying R3 084 more on a R1 million loan repayment since interest rate hike cycle began
  The South African Reserve Bank (SARB) shocked consumers on Thursday after it was announced that the repurchase rate (repo rate) would be hiked by 50 basis points. The 50 BPS hike to the repo rate means that the repo rate will now increase to 8.25% and the prime lending rate to 11.75%. in the country.The […]