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Davis Tax Committee releases Small Business Sector report

19th January 202214th July 2014

By Matthew Lester The Davis Tax Committee has released an interim report addressing the taxation of the small business sector. The report is available on www.treasury.gov.za The committee was established by the previous minister of finance, Pravin Gordhan, in July 2013 under chairman judge Dennis Davis. The brief of the DTC is to enquire and make … Read more

Loane Sharp cuts through StatsSA jobs data gobbledegook

17th April 2014

After watching one of the clips in this interview, I’ve really seen it all. In recent weeks, StatsSA has released one survey (based on household interviews) which concluded 509 000 jobs were created in SA last year. The same agency published another survey (based on responses from businesses) which said the number was actually 39 … Read more

Pension funds should grab 15% private equity opportunity – John Oliphant

4th March 2014

Head of the R1.4 trillion Government Employees Pension Fund (GEPF) John Oliphant has been in the news for the wrong reasons lately. Controversially suspended after being outspoken on broad Governance issues, five months after the event he still awaits a disciplinary hearing. Oliphant, who is highly regarded internationally, hasn’t crawled under a rock. In this … Read more

ABSA’s albatross finally dispatched – Giliomee dispels claims Bankorp lifeboat was “Apartheid Grand Corruption”.

19th June 201719th November 2013

For years I’ve spoken out against repeated falsehoods stated as fact about the Bankorp lifeboat inherited when Absa acquired that failing bank.

Goldman Sachs chief unveils “Two Decades of Freedom” report – but ducks questions on Abil rights issue pricing

5th November 20134th November 2013

Global investment bank Goldman Sachs has enjoyed a lengthy and doubtless profitable engagement with the South African Government. So it’s no surprise to see the bank produce a detailed report on the country’s progress as it heads towards the 20th anniversary of its first democratic election. The impressive document can be downloaded by clicking here. Local GS … Read more

South African life assurance industry’s Hiroshima

30th April 201520th November 2012

December 14, 2005

Her face was one big snarl. Although dutifully recording my responses her whole look shouted out: who do you think you are, you upstart know-nothing? Actuaries, doctors, other people infinitely smarter that you have calculated our commission structures. Who are you to criticize them?

This was 1984, the year of Orwell’s Big Brother. The power of life offices was at its zenith. A time before Robin McGregor sold out to the Evil Empire, when he still railed about four groups controlling 80% of corporate South Africa. And how three of them were assurance companies.