Banking & Insurance

On 26 June 2026, the Western Cape High Court, in Commissioner for the South African Revenue Service (SARS) vs Meiring Citrus (Pty) Ltd, upheld SARS's appeal. The court held that a R10 million self-insurance deduction was not allowable. What began with a R10 million tax deduction claimed in Meiring Citrus' 2017 year of assessment ultimately resulted in years of verifications.

Recent severe weather events across South Africa have once again highlighted the agricultural sector's growing exposure to climate-related risks. While hail has historically been one of the most visible threats, farmers increasingly face a combination of hazards. These include strong winds, heavy rainfall, localised flooding and unseasonal weather patterns. Often, these hazards occur within the same production cycle.

Running a business means managing risk every day. Whether it's protecting assets, managing cash flow or ensuring regulatory compliance, business leaders understand the importance of planning for the unexpected. However, one risk often receives far less attention. It is the possibility of a tax audit.

As South Africa celebrates Women's Month, conversations around financial empowerment, wealth creation and economic participation remain as important as ever. While women continue to make significant strides in the workplace, business and entrepreneurship, achieving financial independence remains a critical component of long-term financial wellbeing.

Financial leaders are now being asked to fund Artificial Intelligence (AI), govern it, and explain the value it creates. This isn't a simple technology question. In banking, it is becoming a test of leadership. AI is starting to influence decisions at the core of the business. These include credit, fraud, pricing, collections, customer engagement, compliance and operational resilience. These decisions affect customers, regulators, shareholders, employees and the institution’s ability to compete.

As weather patterns evolve and climate-related risks intensify, the construction sector must rethink how it assesses flood exposure. South Africa is on the cusp of yet another unprecedented weather cycle. The World Meteorological Organisation (WMO) predicts a moderate-to-strong El Niño event developing between now and August 2026.

Travel insurance is still too often treated as an optional extra. But when a medical emergency strikes while abroad, it can mean the difference between getting the care you need and facing potential overwhelming financial and practical fallout. Most travellers plan carefully for where they will stay, what they will pack and what they want to experience.

For most South Africans, digital banking has become second nature. We pay accounts from our phones, shop online, book holidays, transfer money to family and friends, and invest through banking apps. We can complete all these transactions within seconds. Unfortunately, criminals have become just as comfortable operating in this digital world.

In a recent Johannesburg High Court judgment, the plaintiff, Karanie, instituted an action against the life insurer, the defendant, in December 2012. The claim sought payment of benefits allegedly due under a life insurance policy. The defendant defended the action and filed a counterclaim to recover payments already made under the policy.

For years, banks have modernised around channels. Mobile apps have improved. Onboarding has become faster. Customer engagement has also become more personalised. These improvements matter because customers experience them daily. However, a more difficult shift is now underway.