Much has been written and said about diversifying one’s investment portfolio. One of those options is investing offshore to access international assets and as a hedge against rand-denominated and South African political risk.
FNB’s parent company FirstRand has been awarded a short-term insurance licence by the Financial Services Board, three years after acquiring its long-term insurance licence.
VBS Mutual Bank, one of South Africa’s smallest lenders, has been put into administration after it was unable to repay money owed to municipalities, according to the country’s central bank.
South Africa’s National Treasury issued as powerful a condemnation of Viceroy as you’ll see from a national authority.
James Gubb’s fine was 250 times the value of the trade, and if the same logic is applied to the Guptas the fine would be around $250m.
Political uncertainty and its twin, instability, are currently South Africa’s public enemy number one. And the consequential impacts are largely economic.
The FSB department of market abuse found no insider trading activity ahead of the recall of former finance minister Pravin Gordhan.
The essayist Michel Montaigne once said that, “we ought to find out not who understands most but who understands best”.
Trading OTC has been a popular option for many companies and a particularly efficient way to facilitate trade in restricted shares.
Coal of Africa’s Chief Operations Officer Michiel Jakobus Bronn was fined for insider trading that took place even after he was instructed by the company’s chief executive officer not to trade shares.