Legal Articles and Guides
Old Mutual to launch new bank in 2024
Old Mutual has announced it has received approval from the SARB’s Prudential Authority (PA) to apply for a banking licence, with plans to launch its own bank in 2024.
Sassa scam called out
The Department of Social Development addressed a new Sassa scam yesterday, clarifying whether gold cards will be replaced.
Postbank security a big concern
The Office of the AG has raised doubt about Postbank’s ability to offer a ‘world class’ service, saying it has an unsecure network and is susceptible to cyber attacks and fraud.
Post Office failure could be ‘catastrophic’
The chair of Parliament’s Communications & Digital Technologies Portfolio Committee, Boyce Maneli, has urged government to allocate funds to the struggling SA Post Office, saying failure to do so could be ‘catastrophic’ to service delivery.
Pick n Pay to accept bitcoin payments
Pick n Pay says it now intends to accept bitcoin payments at all its stores ‘in the coming months’, after the success of an initial pilot, reports Business Insider.
Postbank could get a full banking licence
The banking industry, the financial sector’s regulator and Cosatu yesterday all gave their backing for the establishment of Postbank as a fully fledged bank, reports BusinessLIVE.
NPA updates Steinhoff probe
The NPA says it is giving the Steinhoff investigation all the necessary attention and that results will soon be realised, reports TimesLIVE.
How US firm doctored FNB logo
A top New York design firm hired to create the brand identity for FNB in 1986 lifted the famous acacia tree artwork from an SA botany book by Jo Onderstall.
NPA under fire over ‘left field’ Jooste raids
The SA Reserve Bank’s seizure of all assets linked to former Steinhoff CEO Markus Jooste including the Lanzerac wine farm in Stellenbosch has come from ‘left field’ while the NPA was ‘asleep on the job’ over the past five years.
Nedbank loses Sekunjalo ruling appeal bid
Nedbank has failed in its attempt to appeal the court interdict preventing it from shutting down bank accounts belonging to the Sekunjalo Group of Companies (Sekunjalo).
Complex Covid jabs records cause qualified audit
An apparent disagreement over the Department of Health’s financial records for the Covid-19 vaccination programme has resulted in a qualified audit for the 2021/2022 fiscal year, the first time since 2010/2011 that it has failed to get a clean bill of health from the Auditor-General.
Lindiwe Zulu pushes for extension of R350 grant
Social Development Minister Lindiwe Zulu is agitating for the extension of the R350 social relief of distress grant, which is scheduled to be terminated at the end of March, reports Business Day.
Business group set to release grey listing research
As SA races to beat the end of October grey listing deadline set by the Financial Action Task Force (FATF), businesses fear that not enough has been done to avoid the probable economic consequences of grey listing and are searching for ways to mitigate repercussions.
Hacked Mboweni gets his money back
Former Reserve Bank governor Tito Mboweni says the money stolen from his bank account which was hacked, has been returned.
Reserve Bank likely to raise interest rates even further
The Reserve Bank sees a need to continue raising borrowing costs, even after hiking interest rates faster than its modelling suggested, reports Fin24.
