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As a central knowledge portal to the retirement and related industries, EBnet publishes a range of daily articles submitted by a range of industry organisations, experts and contributors. Readers can also comment on and contribute to articles.

March 31, 2020

Sanlam today announced that the Sanlam Board has approved new appointments in three of its most senior positions in the diversified financial services group.

The Sanlam Board has approved that:

  • Mr Elias Masilela be appointed as independent non-executive Chair of the Sanlam Board with effect from 10 June 2020;

  • Mr Paul Hanratty be appointed as Group CEO from 01 July 2020; and

  • Ms Abigail Mukhuba be appointed as Group Financial Director from 01 October 2020.

Each of the appointments was made following rigorous and thorough Board processes with internal and external candidates for eac...

Retirement planning is a bit like searching for directions on Google – you need to know where you want to go first.

Why retirement solutions can't be one-size-fits-all

If you’re a baby boomer, chances are your parents worked for the same company their entire lives, and your father serviced his own car and kept a roadmap in the cubbyhole. Living to 95 would have been exceptional.

If you’re a millennial, the US Bureau of Labor says you’ll average 15 to 20 different jobs in your working life, you won't ever look under the bonnet of your car yourself (although Google could probably tell you how to...

Whether it is your first day of employment or the last month of your working career, deciding on the best investment options for your retirement savings can be a daunting task, even for financially astute investors. The recent volatility of financial markets brought on by the impact of the Coronavirus (COVID-19), oil price wars, trade wars, Eskom debt crunch and looming South African credit downgrade is leaving many members grappling for answers when it comes to securing returns on their long-term savings.

The most important lesson for members is not to panic, but rather to start planning for r...

News of Edcon's cash crisis and inability to pay suppliers is a clear warning of the serious economic damage the COVID-19 crisis is causing.

Edcon has said it will work on a reopening strategy, but may fail to find a viable route without Government and other support. Edcon's current position is not unique and will likely be experienced by many other companies within the economy.

As an industry that manages R175-billion of investments in private companies, mostly small- and medium-sized businesses, on behalf of pension funds and other investors, the private equity (PE) and venture capital (VC)...

As a significant part of the world population is currently on lockdown in an attempt to contain the coronavirus pandemic, people are turning to technology to work, communicate and stay in touch with their loved ones.

Unsurprisingly, workplace communication tools such as Slack and Teams have seen a jump in usage as working from home has become the new norm in recent weeks. People are also making use of similar tools in their personal lives, however, leading to a spike in downloads of video chat apps.

According to Priori Data, global downloads of Skype, Houseparty and Zoom each surg...

March 30, 2020

As part of the Financial Sector Conduct Authority’s (FSCA) efforts to reduce the impact of the COVID-19 pandemic on financial customers, regulated entities and the South African economy, we have released communication to industry to provide guidance for distressed employers and funds.

This note addresses how COVID-19 may impact employers’ and employees’ ability to comply with the full, partial or even any payment of contributions in terms of section 13A of the Pension Funds Act (PFA).

Most funds have existing relevant rules for distressed employers and members and we encourage them to apply thes...

March 30, 2020

The Motsepe Family in partnership with companies and organisations that they are associated with, have pledged R1 billion to assist with the current Coronavirus (COVID-19) pandemic and its related challenges that are confronting South Africa and the African Continent.

These companies and organisations are:

  • Motsepe Foundation

  • Sanlam

  • African Rainbow Capital (ARC)

  • African Rainbow Minerals (ARM)

  • and others

The Founder and Chairman of the Motsepe Foundation, Dr Patrice Motsepe said:

“Several hundred million rands will immediately be made available with the primary objective o...

March 30, 2020

Moody’s announced that they are cutting South Africa’s sovereign credit rating to Ba1 From Baa3. The outlook remains negative. This means that the country now has a sub-investment grade rating. All three major rating agencies now have South Africa rated as sub-investment grade, meaning that we as a country will fall out of the FTSE World Government Bond index.

Fitch and S&P, the two other key global rating agencies both downgraded South Africa to “junk” status during 2017.

The word “junk” status refers to countries whose debt is rated below that of investment grade – it is sometimes referred t...

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