Tag: FinancialServices

For most of the past decade, African fintech was a land grab. Valuations rewarded user numbers. Interfaces became flashier. “Disruption” became the pitch that attracted capital investment. From the outside, it was clear that the model was running hotter than it could sustain. However, that era is over.

Picture a rainy Wednesday morning in Sandton, sometime in the near future. A claims handler opens their laptop. Right away, things move much faster than before. For every new email, the company’s Artificial Intelligence (AI) system drafts a suggested reply. The inbox is also lighter. A public chatbot handles most client and broker queries because it has been trained on policy wordings and continues to improve. Need a meeting? An AI assistant schedules it, sets reminders, and even takes minutes.

Understanding the difference between financial advice and holistic wealth guidance is essential for anyone planning their long-term financial future. The discussion in the video explores a common misconception in the financial services industry: many people assume that a professional managing their investments automatically provides comprehensive wealth advice. However, the conversation highlights that this is not always the case.

The Conduct of Financial Institutions (COFI) Bill will redefine professionalism in South African financial advice, and advisers who adapt early will lead the field. South Africa’s financial advice sector is entering a decisive new era. The COFI Bill, expected to take effect in 2026, will redefine what quality advice means and how it must be proven.

South African law requires any person who becomes liable for tax, whether income tax, VAT, or Capital Gains Tax, to register as a taxpayer with the South African Revenue Service (SARS). You must obtain a tax number. This unique identifier, issued by SARS, tracks and manages your tax obligations and compliance.