Africa Finance News Headlines, Finance Breaking News

Top 10 Finance News Headlines from major African news sources aggregated in one place

Two-pot retirement system: why are there three pots?

By now youve probably heard that as of 1 September this year, National Treasury is introducing changes to the rules around accessing your retirement funds, known as the two-pot system. But what are these pots, why are there three pots in a two-po
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22 Jul 2024

Savings Month: No better time than now

South Africa has some of the lowest savings rates in the world and with many South Africans following the payday millionaire approach, this ultimately results in them only ending up in an ever greater financial predicament. The month of
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22 Jul 2024

Starting as a young entrepreneur? These 4 business support services could give you a one-up on the competition

Getting a business off the ground, especially as a young entrepreneur, often requires having to wear many hats. With many small businesses being run by solopreneurs in the first few months, SME owners often fulfil multiple roles from accounting a
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21 Jul 2024

Point of view: More South Africans opt for life cover in US dollars - data from Discovery Life

Some South Africans are diversifying their risk cover to include life insurance that pays out offshore, in US dollars, this is according to the Discovery Life 2024 Dollar Life research paper. The white paper was released to mark the 10-y
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20 Jul 2024

Words on wealth: Capitec, EAOs, and the taming of the credit industry

Recent news reports alleging irresponsible lending and debt retrieval practices by Capitec Bank in the past have prompted me to contextualise the allegations by revisiting South Africas retail credit environment and reflecting on improvements in
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20 Jul 2024

Two-Pot doesn't mean you can hide money during a divorce

By Nicola Mawson The pending implementation of the Two-Pot retirement scheme does not mean that those who wish to withdraw savings can use that method to hide money from a soon-to-be-ex spouse or get out of maintenance obligations in ter
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20 Jul 2024

VAT and refunds: Are they getting better?

By Annelie Giles South Africa follows an input-credit method of value-added tax (VAT) accounting, which allows a VAT-registered vendor to claim VAT on expenses that have been incurred in the course or furtherance of its taxable enterpris
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20 Jul 2024

3 out of 10 people consider impact of cognitive decline

This is the sixth article in a nine-part series that summarises findings from Just Retirement Insights 2024, a tracking study conducted by retirement income specialist, Just SA. We previously looked at the possibility of living to the ag
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19 Jul 2024

Financial exclusion fuels growth of informal borrowing

Amid rising living costs and an increase in decline rates from formal lenders, many consumers are being forced into accessing high-cost credit from unregulated lenders. This trend highlights the urgent need for more inclusive financial services.
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19 Jul 2024

Beware costs, taxes on savings-pot withdrawals

If you plan to withdraw retirement savings from your savings pot after the two-pot retirement system comes into effect on September 1, you need to take into consideration the costs and taxes that will be deducted from your withdrawal. The deducti
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19 Jul 2024

7 important things young South Africans need to know about online trading

The ability to trade on financial markets was previously only available to a few individuals who had the technical expertise and specialist knowledge needed to succeed. Digital technology has, however, changed the game, making it more possible fo
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19 Jul 2024

South Africa ready to unleash infrastructure boom

My message is simple, Dean Macpherson, South Africas newly appointed minister of public works and infrastructure, tweeted shortly after his appointment to the cabinet. I want to turn our country into a massive construction site that driv
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18 Jul 2024