Tag: Old Mutual

Stokvels are on the move: moving from villages to cities, from beneath mattresses into savings accounts and investment instruments. As they move and evolve, their potential for growth and their ability to create wealth increases.

It’s incredible how many people make resolutions about getting themselves in shape when a new year begins. Very few of us, it seems, think about the ‘financial hangover’ that we are dragging into a new year and how much getting personal finances back in shape could benefit our lives. 

As leaders meet to discuss the state of the world and the difficult road ahead at the World Economic Forum, a frank and honest discussion about the loss of educational opportunities in developing markets is long overdue.  

There has never been a more critical time than now for employers to celebrate worker’s month by providing their employees with structured wellbeing programmes with a particular focus on financial wellbeing that can ultimately affect the bottom line if not managed effectively.

About 7 million South Africans have funeral insurance; this is according to Finscope’s 2019 statistics. This figure underlines the importance we place on making sure our loved ones have a dignified send-off. The question to be asked is whether it is necessary to have both types of insurance policies to achieve long-term financial stability.

Many people around the world are turning to the gig economy and side hustles to make ends meet, especially as the economy continues to take further knocks from the COVID-19 pandemic. Cash strapped South African consumers are taking strain from debt collectors with limited options to manoeuvre their existing budgets but very few have spotted the opportunity or potential of the gig economy.  

The COVID-19 pandemic has brought the global economy to its knees, and inevitably many employers will need to contain costs by cutting salaries. Being hit with a salary cut or a retrenchment is something every employee dreads, but it’s important not to panic and to manage the situation as responsibly as possible.

Nedbank says structural reforms aimed at stemming the current economic and fiscal deterioration in SA need to be implemented with greater urgency. Its call came as it reported muted growth in interim earnings and trimmed its full-year guidance due to weaker than expected economic growth this year.

While the bank’s West African-associate weighed on 2017 earnings, a turnaround last year helped mitigate challenging conditions at home. Nedbank has benefitted from a turnaround at its Ecobank Transnational International (ETI) associate as growth in its home market continues to stagnate.

Shareholders in SA, Zimbabwe and Malawi will be paid out this week, while UK shareholders will receive payment at the end of the month.