Does African Bank’s earnings plunge spell crisis in unsecured lending? Maybe not.

Last week, African Bank Investments Limited (Abil) warned that it expects a whopping 90% fall in earnings for the year. The share price plunged in response, and fresh concerns surfaced over the sustainability of South Africa’s unsecured lending market. But Afrifocus expert Johann Scholtz says that Abil’s woes don’t necessarily mean that the unsecured lending … Read more

Fines have worked well for punishing insider traders, says FSB heavyweight

With questions around trade in Telkom shares by suspended chief financial officer Jacques Schindehutte swirling in the media, the role of the Financial Services Board (FSB) in policing insider trading is back in the spotlight. Biznewz.com‘s editor-in-chief Alec Hogg asked Solly Keetse, head of the FSB Directorate of Market Abuse, why we aren’t seeing dodgy share … Read more

Secret weapon for Big Business against competition: Section 32 of the Labour Relations Act

Gerhard Papenfuss doesn’t pull punches. The man whose organisation speaks for small and medium-sized business says NEDLAC is a waste of time, a talk shop that gets nothing done.Funny, even Big Business agrees – and Government has lately  been by-passing the supposed consensus building forum. But what really gets Papenfuss’s goat is Section 32 of … Read more

SA third fattest nation on earth. Turning it around starts by cutting down on KFC…..

We’d better stop joking about fat Americans. The latest global survey shows South Africans are climbing the “fat nation” league and we’re now in third place behind the US and UK. Hidden costs of obesity are similar to cigarette smoking – mushrooming public healthcare costs. That’s not to be sneezed at in a country determined … Read more

UPDATED WITH COMMENT FROM SCHINDEHUTTE: Telkom CFO’s suspension a sign of good management, says telecoms analyst

Telkom announced yesterday that it had suspended its chief financial officer Jacques Schindehutte, pending a disciplinary process. Although Telkom has yet to explain exactly what he is accused of, it says that Schindehutte has been suspended as the result of certain allegations made against him. The Mail & Guardian has speculated that the issue may … Read more

Sandton traffic torture: expect more pain – latest car, property forecasts

Sandton property investors seem to have the philosophy of “Build it and they will come“. But, while office and retail space continues to go up, Jo’burg’s movers-and-shakers have evidently overlooked transport infrastructure requirements. If you think it is painful getting to Sandton CBD now, imagine what it will be like when an additional 9 000 … Read more

Transaction Capital sheds unsecured lending arm, but Lamberti says he’s open to new purchases

In a surprise move, South African financial services group Transaction Capital announced yesterday that it would be selling it’s unsecured lending business Bayport Financial Services to Bayport’s management. This is Transaction’s second big sale in a very short time; it sold Paycorp, its payments business, less than two months ago. Some are asking whether this second sale … Read more