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You are here: Home / Archives for Insurance

Insurance

22 August 2024

A nation’s health, is a nation’s wealth

Location: News

A nation's health, is a nation's wealth

South Africa’s health system is too essential to development to be weakened by mismanagement, funding crises, and other problems.

“We expect all stakeholders to bring solutions and work with the Departments of Health and Science and Innovation to implement them,” said Acting President Paul Mashatile on Thursday.

The Acting President was speaking at the Union Buildings in Pretoria, where he presided over the signing of the second Presidential Health Compact, an initiative established by President Cyril Ramaphosa in 2019.

The health compact is a framework for cooperation between critical sectors and stakeholders to strengthen the health system and monitors and evaluates preparations for implementing the National Health Insurance (NHI).

The stakeholders include government, business, labour, civil society, health professionals, unions, service users, statutory councils, academia, and researchers to develop sustainable and inclusive solutions to challenges in the national health system.

Its pillars range from the development of human resources, improving access to medicine, vaccines and health products, upgrading infrastructure and private sector engagement. 

It also zooms in on quality healthcare, public sector financial management improvements, governance and leadership, community engagements, and information systems to pandemic preparedness.

The Acting President told delegates present that implementation was the foremost priority of the country's seventh administration. 

“Effective policy implementation means we can take the right actions and follow through with the plans, leading to successful outcomes. I have full confidence that implementation is the priority of all of us gathered here today.

“On behalf of President Cyril Ramaphosa, it is my privilege to sign the second Presidential Health Compact today.”

He said he believed that a healthy nation is more economically productive and prosperous.

“A healthy population enjoys higher life expectancy, better quality of life and overall wellbeing. As a result, providing quality healthcare is of the utmost importance to all of us,” he added. 

Universal healthcare coverage

He said Africa is committed to the achievement of the United Nations Sustainable Development Goal of “ensuring healthy lives and promoting wellbeing for all at all ages”. 

“This is a bold commitment to achieve universal health coverage. It is a commitment to provide access to affordable medicines and vaccines for all. If our nation’s health is truly to be our nation’s wealth, we must fix our healthcare system.”

He said fixing the healthcare system will effectively protect the population against public health emergencies, such as HIV/AIDS, COVID-19, or Mpox.

The Acting President also outlined challenges that prevent government from providing decent and quality healthcare to all South Africans. 

Lack of funding and collaboration

He also touched on healthcare funding challenges due to budget cuts and a constrained fiscal environment, compounded by inefficiencies, mismanagement and corruption in resource allocation.

However, the Acting President said budgeting in the health sector is steadily improving to ensure a more equitable allocation of resources. 

“Less money is being lost to litigation. This is thanks to the hard work of the Health Sector Anti-Corruption Forum, which continues to expedite prosecutions and recover stolen funds.” 

With greater collaboration, he said the resources and capabilities of both the public and private sectors can be brought to bear to serve those who need healthcare most. 

However, some progress has been made as well with 149 new primary healthcare facilities being completed by November 2023. 

In addition, 30 new hospitals are either opened or under construction.

The Acting President also took the time to applaud the private sector for the crucial role it plays in strengthening health systems. 

“Our experience with COVID-19 showed how we could deepen public-private partnerships. With greater collaboration, the resources and capabilities of both the public and private sectors can be brought to bear to serve those who need healthcare most,” he added. – SAnews.gov.za

Gabisile
Thu, 08/22/2024 - 14:43

279 views
Read moreA nation’s health, is a nation’s wealth
22 August 2024

Estates Are Better Value for Money as They Bypass the Hidden Costs of Freestanding Homes

Location: MyPR

The dust on the national elections has finally settled with the newly formed government of national unity described as a ‘market-friendly outcome’ by Business Day. This is good news for those who have been holding off on property investments as real estate interest picks up, particularly in secure estates. “There’s definitely a positive sentiment being …

Read moreEstates Are Better Value for Money as They Bypass the Hidden Costs of Freestanding Homes
20 August 2024

Understand Property, Business, and Classic Car Valuations

Location: MyPR

Valuations are a critical aspect of many financial and legal decisions. Whether you are dealing with property, a business, or even a classic car, understanding the valuation process is essential.    What Are Valuations? Valuations are assessments of the worth or value of an asset. They are conducted by professionals who consider various factors to …

Read moreUnderstand Property, Business, and Classic Car Valuations
20 August 2024

President Ramaphosa to officiate signing of second Presidential Health Compact

Location: News

President Ramaphosa to officiate signing of second Presidential Health Compact

President Cyril Ramaphosa will on Thursday preside over the signing of the second Presidential Health Compact at the Union Buildings in Pretoria.

The Presidential Health Compact is an initiative established by President Ramaphosa in 2019. 

It is a framework of cooperation between critical sectors in South Africa that significantly influences good health outcomes. 

According to the Presidency, it also monitors and evaluates components where roles and responsibilities are assigned to various stakeholders to support the strengthening of health systems and preparation for implementing the National Health Insurance (NHI).

READ | President Ramaphosa to officiate signing of the Presidential Health Compact

The second compact follows the 2023 Presidential Health Summit, which built on the inaugural summit of 2018 and brought together several stakeholders. 

These include government, business, labour, civil society, health professionals, unions, service users, statutory councils, academia, and researchers to develop sustainable and inclusive solutions to challenges in the national health system.

The stakeholders involved in this framework are integral to supporting the Department of Health in improving the health system.

It initially consisted of nine pillars, with the 10th pillar added during last year’s summit. 

These include the development of human resources, improving access to medicine, vaccines and health products, upgrading infrastructure, private sector engagement, quality healthcare, public sector financial management improvements, governance and leadership, community engagements, information systems and pandemic preparedness. 

The signatories to the health compact are:

•    The President of the Republic of South Africa

•    The Minister of Health

•    The Minister of Science and Innovation

•    Independent Community Pharmacy Association (ICPA) 

•    South African National AIDS Council (SANAC)

•    South African Medical Association Trade Union

•    Democratic Nurses of South Africa

•    Congress of South African Trade Unions

•    Campaigning for Cancer- Patient User Groups

•    South African Medical Research Council (SAMRC)

•    South African Pharmacy Council (SAPC)

•    National Unitary Professional Association for African Traditional Health Practitioners of South Africa (NUPAATHPSA)

•    Traditional Knowledge Systems and Allied Health

The signing of the second Presidential Health Compact will take place at the Union Buildings Courtyard, West Wing, Pretoria at 12:30 pm. – SAnews.gov.za

Gabisile
Tue, 08/20/2024 - 09:44

273 views
Read morePresident Ramaphosa to officiate signing of second Presidential Health Compact
19 August 2024

What happens to financial losses suffered by banking customers following a kidnapping?

Location: MyPR

What happens to financial losses suffered by banking customers following a kidnapping? According to media reports there has been a significant increase in kidnappings in South Africa, where criminal syndicates have targeted South African entrepreneurs. The banking division of the National Financial Ombud Scheme (NFO) has received some complaints relating to kidnappings where consumers disclose …

Read moreWhat happens to financial losses suffered by banking customers following a kidnapping?
19 August 2024

Stanbic Bank, NBA Africa and Luol Deng Foundation Celebrate First Jr. NBA/Jr. Women’s National Basketball Association (WNBA) Finals in South Sudan

Location: Sport
National Basketball Association (NBA)

Stanbic Bank in South Sudan, NBA Africa (www.NBA.com) and the Luol Deng Foundation today hosted the first edition of the Stanbic Jr. NBA/Jr. WNBA Finals, which took place at the Nimra Talata Basketball Stadium in Juba, South Sudan.  Juba One 76ers were crowned the inaugural season's champions, with Khalid Jibrin named the finals' Most Valuable Player.

Notable attendees included Stanbic Bank South Sudan Head of Business Fred Ouko, Luol Deng Foundation Founder and two-time NBA All-Star Luol Deng, Luol Deng Foundation CEO Arek Deng, 1995 NBA All-Star and 1992 Slam Dunk champion Cedric Ceballos, Basketball Africa League President Amadou Gallo Fall, and South Sudan national team members Wenyen Gabriel, Kuany Kuany and Nuni Omot.  The event builds on Stanbic Bank and NBA Africa's multiyear collaboration, which launched in 2022 and featured the unveiling of a new outdoor basketball court at St. Mark's Orthodox School in Juba last December.

“The remarkable performance of the South Sudan national basketball team at the Paris Olympics highlighted the tremendous sporting talent within South Sudan,” said Stanbic Bank Chief Executive for Kenya and South Sudan Dr. Joshua Oigara.  “Through our collaboration with NBA Africa and the Luol Deng Foundation, we are supporting the country to build on this potential and remain committed to driving South Sudan's growth through meaningful collaborations and initiatives.”

“The success of the first Jr. NBA/Jr. WNBA league season in Juba speaks to the great passion for the game of basketball in South Sudan and its impact on local communities,” said NBA Africa CEO Clare Akamanzi.  “The South Sudan national team's performance on a global stage in recent months demonstrated how much the sport is growing in the country and we look forward to further collaborating with Stanbic Bank and the Luol Deng Foundation to make the game even more accessible for young people here.”

“I knew South Sudanese children had what it takes when the stage is set right for their learning, so I was not surprised about the talent,” said Deng.  “What impressed me the most is the improvement in coaching and seeing how each school showed up to support players.  The joy, the competitive, but yet peaceful spirit that the spectating students showed was so amazing to see.” 

“This is my first visit to South Sudan, and it was incredible to see all the excitement on the court this afternoon,” said Ceballos.  “I have seen firsthand the impact basketball can make on young people's lives and continuing to build on such platforms for boys and girls to play the game will be paramount to their success on the court, and in life.”

The Jr. NBA/Jr. WNBA is the league's global youth basketball program for boys and girls that teaches the fundamental skills and core values of the game – teamwork, respect, determination and community – at the grassroots level in an effort to help grow and improve the youth basketball experience for players, coaches and parents.  The Jr. NBA/Jr. WNBA program has been launched in 19 African countries, reaching more than 170,000 youth from across the continent last year.

Distributed by APO Group on behalf of National Basketball Association (NBA).

Contacts:
Rachel Nderitu
Stanbic Bank
NderituR@stanbic.com
+254723710540

Pawel Weszka
NBA Africa
pweszka@nba.com
+27 10 007 2666

About Stanbic Bank:
Stanbic Bank is a member of the Standard Bank Group, Africa's largest bank by assets.  Stanbic Bank is licensed and regulated by the Bank of South Sudan and has provided banking services in South Sudan since 2004, before the signing of the Comprehensive Peace Agreement (CPA) in 2005.  The bank provides corporate, business and personal banking services to the key sectors that drive the South Sudan economy, including Oil & Gas, Power & Infrastructure, Humanitarian & Development Assistance, Government, Telecommunications and Insurance.  

About NBA Africa:
NBA Africa is an affiliate of the National Basketball Association (NBA), a global sports and media organization with the mission to inspire and connect people everywhere through the power of basketball.  NBA Africa conducts the league's business in Africa, including the Basketball Africa League (BAL), and has opened subsidiary offices in Cairo, Egypt; Dakar, Senegal; Johannesburg, South Africa; Lagos, Nigeria; and Nairobi, Kenya.  The league's efforts on the continent have focused on increasing access to basketball and the NBA through youth and elite development, social responsibility, media distribution, corporate partnerships, NBA Africa Games, NBA Stores, the BAL, and more. 

NBA games and programming are available in all 54 African countries, and the NBA has hosted three sold-out exhibition games on the continent since 2015.  The BAL, a partnership between the International Basketball Federation (FIBA) and NBA Africa, is a professional league featuring 12 club teams from across Africa that concluded its fourth season in June 2024.  Fans can follow @ NBA_Africa and @ theBAL on Facebook, Instagram, X and YouTube.

About Luol Deng Foundation:
The Luol Deng Foundation (LDF) was established in 2005 to empower youth to realize their limitless potential through sport and development.  LDF creates pathways to opportunity through sport, education, wellness, and equality.  Over the years, LDF has grown beyond basketball and expanded its reach into areas of education, wellness, and equality for young South Sudanese.  We believe youth are the key to transforming our country and our world.

For more information visit www.LuolDeng.org, follow @ ldengf on Facebook, Instagram, Twitter and YouTube.

Media files
National Basketball Association (NBA)
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Read moreStanbic Bank, NBA Africa and Luol Deng Foundation Celebrate First Jr. NBA/Jr. Women’s National Basketball Association (WNBA) Finals in South Sudan
19 August 2024

Minbro Marietta Unveils a New Era of Workspace Solutions in Marietta, GA

Location: MyPR

[Marietta, GA] – Minbro Marietta is excited to announce the launch of its innovative coworking space in Marietta GA, designed for professionals and businesses seeking flexible, modern workspace options. Situated in a prime location, this premium facility caters to those in need of office space in Marietta or a versatile Marietta office space for rent. …

Read moreMinbro Marietta Unveils a New Era of Workspace Solutions in Marietta, GA
16 August 2024

Government, private sector partnerships offer hope for jobs

Location: News

Government, private sector partnerships offer hope for jobs

Employment and Labour Minister Nomakhosazana Meth has expressed optimism that the strengthened partnership between government and business will significantly boost economic growth and pave the way for increased job creation.

In a statement on Thursday, Meth acknowledged the Quarterly Labour Force Survey (QLFS) report for the second quarter of 2024 that was released by Statistics South Africa (Stats SA) earlier this week. 

She noted that while the official unemployment rate has increased from 32,9% in quarter one to 33,5% in quarter two, the number of employed persons in quarter two:2020 during the COVID inception was 14,1 million and 16.7 million in the second quarter of 2024, showing an increase in the labour force.

Additionally, the Minister said a decrease in the unemployment rate recorded in Limpopo, Free State and the Eastern Cape is encouraging and commendable under the circumstances. 

“Whilst government has continued to put in place interventions like addressing load shedding, resolving transport and logistics challenges, the economy is not growing as expected. Some of the key contributions to this sluggish economic growth are that South Africa is not insulated from the global economic pressures and geo-politics. 

“Henceforth, the scale at which the partnership between government and business is to be elevated, there is much hope that we will see a turn on economic growth yielding to job creation,” Meth said. 

Meth considers her department as central in intensifying the coordination of contributions that are to yield the results needed to address and arrest the stubborn nature of unemployment. 

As such, the Unemployment Insurance Fund (UIF) is contributing to the Presidential Youth Employment Initiative which will conclude the next intake of the one million young people as school assistants in over 23 000 schools across South Africa.

In the 2023/2024 financial year, the department has played a crucial role in job preservation saving 14 887 jobs as part of the Commission for Conciliation, Mediation and Arbitration (CCMA) dispute resolution mechanisms. 
Furthermore, through another of the department’s entity, Productivity South Africa’s business turnaround and recovery programme, 71 enterprises were assisted resulting in 5 390 jobs being saved.

As Minister Meth continues with her first 100 days in office, her plan of action to refine and repurpose the strategic thrust of the department in ensuring that the employment mandate is sharpened and delivers tangible results, remains high. 

The Minister was appointed in June.

The department and its entities continue to preserve jobs through the signing of the funding agreement between the UIF and Productivity SA projected to benefit 226 companies with a target to save 11 300 jobs in the next three years.

“Aligned to the three priorities of the 7th administration, my department, in fulfilling its mandate needs a collective approach and refined coordinated efforts that are vigorous to turnaround the status quo, particularly, youth unemployment,” Meth said. – SAnews.gov.za  

 

DikelediM
Fri, 08/16/2024 - 10:19

257 views
Read moreGovernment, private sector partnerships offer hope for jobs
15 August 2024

My three-month battle with the Unemployment Insurance Fund

Location: News

Appeal to the new Minister of Labour to fix the problems with the fund

Read moreMy three-month battle with the Unemployment Insurance Fund
14 August 2024

In sickness and in health: What can workers expect from their employer if they are too sick to work?

Location: News

CCMA finds dismissal of cancer survivor lawful

Read moreIn sickness and in health: What can workers expect from their employer if they are too sick to work?
14 August 2024

UIF commissioner to host employer breakfast session in Queenstown

Location: News

UIF commissioner to host employer breakfast session in Queenstown

The Unemployment Insurance Fund (UIF) is calling on employers in the Eastern Cape to attend an Employer Breakfast session that is set to take place in Queenstown next week.

The session which will be held at Aloe Grove Guest Farm, will be hosted by the fund’s Commisssioner, Teboho Maruping.

Employers from all sectors, including commercial business owners and operators of Small Medium and Micro Enterprises (SMMEs) in Komani (Queenstown) as well as the broader Eastern Cape Province are invited to attend the session on Monday, 19 August 2024.

“At the occasion, Commissioner Maruping will among other things, engage with employers about the importance of compliance with the Unemployment Insurance Act and discuss how new developments within the UIF will impact on employers and employees,” the department said in a statement.

Subject matter experts from the UIF will be in attendance to assist employers on the spot with any challenges they may be facing in relation to the fund.

Building up to the breakfast session a full basket of Department of Employment and Labour services will be offered to communities, including assistance with UIF claims, Compensation Fund claims, enquiries resolution, registration of work seekers on the Employment Services of South Africa (ESSA) database as well as provision of information on the National Minimum Wage and other basic conditions of employment.

Build up activities will be offered this week, beginning on Wednesday at the Municipality Hall (Convent) in Cala, from 9 am until 3 pm. On Thursday, these activities will take place at Cofimvaba Town Hall in Cofimvaba, and they will conclude on Friday at Cacadu Town Hall in Cacadu. – SAnews.gov.za 

 

DikelediM
Wed, 08/14/2024 - 11:24

154 views
Read moreUIF commissioner to host employer breakfast session in Queenstown
12 August 2024

Government activities for the week 12- 16 August 2024

Location: News

Government activities for the week 12- 16 August 2024

On Monday, 12 August, Minister of Health Aaron Motsoaledi engages with Limpopo stakeholders on the National Health Insurance. 

Also on Monday, the Department of International Relations and Cooperation will host a media briefing to update the public on the Minister’s programme and other topical issues related to international relations and cooperation.

Tuesday, 13 August, no confirmed events.

On Wednesday, 14 August, the Electoral Commission holds six municipal ward by-elections in the Eastern Cape and Limpopo. 

On Thursday, 15 August, Gender Equality launches reports on Women’s Access to Land and State of Health Care in the Eastern Cape.

Friday, 16 August, no confirmed events.  

 

Neo
Mon, 08/12/2024 - 11:13

49 views
Read moreGovernment activities for the week 12- 16 August 2024
11 August 2024

Mastering Property Valuations for Maximum Returns

Location: MyPR

Property valuations play a crucial role in the real estate market, guiding buyers, sellers, investors, and even insurance companies in making informed decisions. Understanding the different aspects of valuations can significantly enhance your ability to maximise returns on your investments.   Understanding Property Valuations Property valuations are assessments of a property’s market value at a …

Read moreMastering Property Valuations for Maximum Returns
10 August 2024

Delivering Smiles: Connecting Families Through Courier Services

Location: MyPR

Staying connected with family and friends has become more important than ever. Whether it’s sending a birthday gift, an important document, or a care package filled with love, courier services play a vital role in bridging the gap between distant families. Let’s delve into the world of courier services, exploring their benefits and how they …

Read moreDelivering Smiles: Connecting Families Through Courier Services
8 August 2024

Strong female leadership will have a positive impact on the South African narrative

Location: MyPR

Despite the fact that South Africa is going through a significant political transition, our democracy remains a shining beacon of hope on a continent where a democratic process is desperately needed in many countries. This cannot have been achieved without the sacrifices made by strong political leaders who have fought hard to build our democracy. …

Read moreStrong female leadership will have a positive impact on the South African narrative
2 August 2024

Afreximbank’s African Quality Assurance Centre receives international accreditation from South African National Accreditation System (SANAS)

Location: News

Afreximbank
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African Export-Import Bank's (Afreximbank) (www.Afreximbank.com) first African Quality Assurance Centre (AQAC), implemented in Ogun State, Nigeria, in partnership with Bureau Veritas (BV) has been awarded the ISO/IEC 17025:2017 accreditation by the South African National Accreditation System (SANAS), one of the key accreditation bodies in Africa responsible for carrying out conformity assessments as mandated under South Africa's Accreditation for Conformity Assessment, Calibration and Good Laboratory Practice Act (Act 19 of 2006).

ISO/IEC 17025 is the recognised international standard for testing and calibration laboratories and sets out requirements for the competence, impartiality and consistent operation of laboratories, ensuring the accuracy and reliability of testing and calibration results. The standard enhances the credibility of testing and calibration work by laboratories, by fostering trust among clients and regulatory authorities. Compliance with ISO/IEC 17025 demonstrates a laboratory's commitment to quality, technical proficiency and scientific rigour.

Commenting on the accreditation, Ms. Oluranti Doherty, Managing Director Export Development at Afreximbank said that the accreditation served to validate AQAC's capabilities and expertise and would provide new opportunities to expand the centre's reach.

“By aligning its practices with international standards and best practices, AQAC is well-positioned to attract new clients, foster partnerships with industry stakeholders, and contribute to the advancement of quality assurance practices in Africa,” said Ms. Doherty.

“The impact of this accreditation extends beyond the laboratory as it also contributes to the overall advancement of quality assurance practices in Nigeria. By demonstrating compliance with international standards and best practices, AQAC will help in reducing the rejection rates for Nigerian and African exports,” she said, mentioning that the Bank has committed up to US$100 million to support the development of new AQACs across the continent, with projects being considered in Benin, Chad, Gabon, Kenya and Tanzania.

Jean-Michel Perret, Managing Director, Bureau Veritas Nigeria said, “We are incredibly proud to have achieved the ISO 17025 accreditation for the African Quality Assurance Centre. This milestone reflects our steadfast commitment to providing the highest standards of testing and inspection services. It also demonstrates our dedication to supporting Nigeria's AgroFood industry in meeting international quality benchmarks, thereby facilitating greater access to global markets for ‘Made in Africa' products.”

The accreditation by SANAS amplifies AQAC's ability to offer internationally accredited services for food and agri products and paves the way for a more reliable and robust testing environment in Africa.

SANAS is a signatory to the International Accreditation Forum which gives it world-wide recognition as a competent body for carrying out independent evaluation of certification bodies against recognized standards. It is also a signatory to the International Laboratory Accreditation Cooperation Mutual Recognition Arrangements, the African Accreditation Cooperation Mutual Recognition Arrangements and the SADCA Mutual Recognition Arrangements, for specific scopes.

Distributed by APO Group on behalf of Afreximbank.

Afreximbank Media Contact:
Vincent Musumba
Manager
Communication and Events (Media Relations)
Email: press@afreximbank.com

Bureau Veritas Media Contact:
Selin Dincer Cinar
+905 308 61 59 94
Email: selin.dincer-cinar@bureauveritas.com   

Seseselelo Matlapeng
+27 (0)78 451 5331
Email: seseselelo.matlapeng@bureauveritas.com  

About Afreximbank:
African Export-Import Bank (Afreximbank) is a Pan-African multilateral financial institution mandated to finance and promote intra-and extra-African trade. For 30 years, the Bank has been deploying innovative structures to deliver financing solutions that support the transformation of the structure of Africa's trade, accelerating industrialization and intra-regional trade, thereby boosting economic expansion in Africa. A stalwart supporter of the African Continental Free Trade Agreement (AfCFTA), Afreximbank has launched a Pan-African Payment and Settlement System (PAPSS) that was adopted by the African Union (AU) as the payment and settlement platform to underpin the implementation of the AfCFTA. Working with the AfCFTA Secretariat and the AU, the Bank is setting up a US$10 billion Adjustment Fund to support countries effectively participating in the AfCFTA. At the end of December 2023, Afreximbank's total assets and guarantees stood at over US$37.3 billion, and its shareholder funds amounted to US$6.1 billion. Afreximbank has investment grade ratings assigned by GCR (international scale) (A), Moody's (Baa1), Japan Credit Rating Agency (JCR) (A-) and Fitch (BBB). Afreximbank has evolved into a group entity comprising the Bank, its impact fund subsidiary called the Fund for Export Development Africa (FEDA), and its insurance management subsidiary, AfrexInsure (together, "the Group"). The Bank is headquartered in Cairo, Egypt.

For more information, visit: www.Afreximbank.com

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ABOUT BUREAU VERITAS: 
Bureau Veritas is a world leader in inspection, certification, and laboratory testing services with a powerful purpose: to shape a world of trust by ensuring responsible progress. With a vision to be the preferred partner for customers' excellence and sustainability, the company innovates to help them navigate change. 

Created in 1828, Bureau Veritas' 83,000 employees deliver services in 140 countries. The company's technical experts support customers to address challenges in quality, health and safety, environmental protection, and sustainability. 

Bureau Veritas is listed on Euronext Paris and belongs to the CAC 40 ESG, CAC Next 20, SBF 120 indices and is part of the CAC SBT 1.5° index. Compartment A, ISIN code FR 0006174348, stock symbol: BVI. 

For more information, visit www.BureauVeritas.com, and follow us on LinkedIn (http://apo-opa.co/3A5IN2V) and X/Twitter (http://apo-opa.co/4dcXpwg). 

The head office for Bureau Veritas Middle East, Caspian & Africa region is based in Dubai, For more information, www.BureauVeritas.Africa  or  www. Middle-East.BureauVeritas.com/ 

Read moreAfreximbank’s African Quality Assurance Centre receives international accreditation from South African National Accreditation System (SANAS)
31 July 2024

Finding the right financial products to serve the underserved

Location: MyPR

Financial inclusion remains a key issue in South Africa, and promoting real inclusion is critical in enabling more people to improve their quality of life, says Simphiwe Phakathi, Executive Head of Sales and Distribution at EasyPay Everywhere. Financial exclusion is associated globally with persistent poverty. “At its most basic, the issue is that so many …

Read moreFinding the right financial products to serve the underserved
30 July 2024

World faces era of new economic challenges

Location: News

World faces era of new economic challenges

The world is entering an era of new economic challenges, even as the recent ones have yet to be overcome, says South African Reserve Bank (SARB) Governor Lesetja Kganyago.

“The global economy continues on a long recovery path from the pandemic. This path has been a troubled one, and despite better prospects in recent months, remains beset by risks and vulnerabilities built up during the pandemic. 
“Inflation remains stubbornly high, and public debt levels globally are at record levels,” the Governor said on Tuesday.

Addressing the 104th annual Ordinary General Meeting of the SARB shareholders in Pretoria, Kganyago asserted that technological development carries both risks to cybersecurity and the hope of large and sustained boosts to global productivity.

“Inflation remains a major policy concern for central banks globally. Although global inflation declined from 8.7% in 2022 to 6.8% in 2023 and continues to ease in 2024, it remains high relative to the 2–3% inflation targets that many countries are trying to achieve.

“Restrictive monetary policy, along with the recovery in supply chains and other pandemic-related bottlenecks, has helped inflation to recede from its 2022 highs. However, global disinflation has slowed recently, as is well illustrated by consumer price inflation in the United States (US) still sitting at 3% relative to their 2% target,” Kganyago said.

He said the slow pace of disinflation reflects a pattern of lower imported inflation but higher services inflation across most economies. 

“In some [economies], rising wages and sustained pent-up demand for services have been key factors. In emerging markets specifically, fiscal challenges and sustained currency depreciations have played more of a role.

“Policy commitment to reduce inflation back to targets has been strongly signalled around the globe, and central banks have generally been cautious in their approach to policy. Deepening geo-economic fragmentation, higher temperatures and other supply-related risks raise concerns about the long-term prospects for inflation, and considerable effort is going into reassessments of neutral real rate levels,” the Governor said.

While inflation remains higher than desired, global economic activity has proven to be more resilient than expected. 

“Global growth surprised higher at 3.3% in 2023, despite considerable divergence in growth across individual economies. Generally, however, global growth rates are expected to remain below pre-pandemic trends. This reflects the impact of protectionist measures on global trade, relatively tight financial conditions as well as uncertainty of future policy trajectories,” Kganyago said.

Domestic real economy developments

Despite South Africa’s low economic growth, employment levels have recovered the 2.2 million jobs lost during the height of the pandemic.|

“As of the first quarter of this year, total employment surpassed its 2019 level. Nonetheless, job creation has been too slow and not enough to offset the growth in the labour force, leaving the unemployment rate elevated at 32.9% in the first quarter of this year,” the Governor said.

The South African economy slowed to 0.7% in 2023 from 1.9% in 2022, and remains well below growth in peer emerging markets.

“Load shedding and logistical challenges have been weighing heavily on economic activity, depressing the credit appetite of businesses and the spending of households.

“South Africa’s tailwind for growth coming from strong terms of trade continued to fade, despite still remaining at historically good levels. Exports also suffered over the past 12 months from energy and logistics challenges as much as price factors. Imports were also muted by logistics. 

“As energy and logistics constraints continue to ease, the growth outlook will also improve. The domestic economy is expected to grow by 1.1% this year, rising to 1.7% by 2026, as both household spending and investment start to strengthen,” Kganyago said.

Domestic inflation dynamics

As with the global trend of moderating inflation, South Africa’s headline inflation decelerated over the past year, falling from 6.9% in 2022 to an average of 6% in 2023.  

“These annual averages, however, hide the ongoing volatility in the underlying components of inflation, in turn demonstrating the risks and uncertainty marking the disinflation path. 
“Since September of last year, headline inflation has been fluctuating between 5% and 6%, with frequent monthly setbacks coming from fuel, food and services prices.

“In February, core inflation rose by 0.4 percentage points to 5%, propelled sharply higher by medical insurance inflation. Encouragingly, as of June, core inflation has moved to 4.5%,” Kganyago said. 

The SARB sees core inflation averaging 4.6% this year, from 4.8% last year. Inflation expectations eased in the first half of this year, but still remain well above the midpoint of the target band.  

“While headline inflation came out between 5% and 6% for much of the past year, our current forecast shows it easing to 4.9% this year, pulled lower mainly by softening food and fuel inflation, and resting at the midpoint in 2025 and 2026. 

“Even with some quantitative and qualitative adjustments to risk perceptions over time, the Monetary Policy Committee (MPC) has felt it appropriate to maintain the repurchase (repo) rate at 8.25% – a level set in May of 2023,” he said. - SAnews.gov.za
 

 

nosihle
Tue, 07/30/2024 - 14:14

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Read moreWorld faces era of new economic challenges
30 July 2024

Buying an older-model car? First do your homework before you buy it

Location: MyPR

Data from information and insights company TransUnion shows that South Africa’s car market is in flux. A growing number of households are opting for one multipurpose car instead of maintaining multiple cars, with many substituting their transport demands with ride-hailing services or using subscription services As a consequence, sales of both new and used cars …

Read moreBuying an older-model car? First do your homework before you buy it
30 July 2024

10 Critical questions you should be asking your financial adviser

Location: MyPR

Stian de Witt, Head of Financial Planning at financial advisory firm NMG Benefits, says that having honest conversations with your financial adviser isn’t just a right; it’s a responsibility. “In much the same way that you explain your health concerns to your doctor and then question the treatment plan, you should be comfortable sharing your …

Read more10 Critical questions you should be asking your financial adviser
26 July 2024

Chikunga donates infrastructure to Umlazi school

Location: News

Chikunga donates infrastructure to Umlazi school

Minister in Presidency responsible for Women, Youth and Persons with Disabilities, Sindisiwe Chikunga, in partnership with the Sector Education and Training Authorities (SETA’s), will donate R6 million worth of infrastructure to benefit a school in KwaZulu-Natal.

More than 400 learners of Mason Lincoln Special School will benefit from the Inter-SETA collaboration project, which aims to improve the operations of the special school.

The school is located in Umlazi.

Friday’s donation includes infrastructure support through the provision of mobile classrooms, teacher, and learner tools of the trade through the provision of desktops, assistive devices, digital boards, and wheelchairs.

“Further support will include skills development opportunities for persons and learners with disabilities,” the department said.

Chikunga will be joined by the Health and Welfare SETA, FoodBev Manufacturing SETA, Insurance SETA, Services SETA, and Mining Qualifications Authority. – SAnews.gov.za
 

GabiK
Fri, 07/26/2024 - 10:13

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Read moreChikunga donates infrastructure to Umlazi school
22 July 2024

Healthcare for all a top priority for government

Location: News

Healthcare for all a top priority for government

Equal access to affordable quality health care through the implementation of the National Health Insurance (NHI), is a key priority for the seventh administration, says President Cyril Ramaphosa.

“We are unwavering in our commitment to implement universal health coverage in a manner that brings all South Africans on board,” President Ramaphosa said.

The President was responding to the debate on the Opening of Parliament Address on Monday.

President Ramaphosa said government will continue with dialogues, exchanges and  interactions to make the NHI an important programme for the people.

The President also highlighted the country’s report to the United Nations, which noted reductions in maternal, infant and neonatal mortality, and that South Africans are living longer and have better health outcomes.

READ | Government pushes for affordable healthcare for all

The President delivered the Opening of Parliament Address on Thursday and the President’s speech was debated by political parties on Friday.

READ | President Ramaphosa signs NHI Bill into law

Education

On inclusive and equitable quality education, President Ramaphosa said the country has made progress with respect to functional literacy and numeracy at primary school level, and in primary school completion rates.

“Today, more South African children have access to Early Childhood Development (ECD) and Grade R, and secondary school education outcomes continue to steadily improve.

“The child support grant, no-fee schools and expanded NSFAS (National Student Financial Aid Scheme) funding have had a considerable impact on the lives of learners, particularly those from poor families.”

He said these social protection interventions, alongside others, including the Schools Nutrition and Sanitary Dignity Programmes, aimed at female learners, are helping to break the cycle of intergenerational poverty.

“They are enabling more children to complete their schooling and to access opportunities after they finish school. One need only look at last year’s matriculation exam results, where learners who were social grant beneficiaries achieved an 81 percent pass rate,” President Ramaphosa said.

While access to education expands the capabilities of young people, the President noted that it also improves the productive capacity of the economy.

“Our young people are competing with the world. This is a new world, one that is rapidly changing and being influenced by technological advances.

“A better educated, better skilled workforce makes our economy more competitive and catalyses growth.”

Greater investment in skills

President Ramaphosa also commended the call for greater investment in skilling young people for the economy of the future, and for young people to be familiar with emerging technologies.

“Science and technology is going to continue playing an important role in enabling our young people to play a key role in our economy,” President Ramaphosa said. – SAnews.gov.za

 

GabiK
Mon, 07/22/2024 - 12:22

378 views
Read moreHealthcare for all a top priority for government
22 July 2024

Efficiency and alignment are key to 7th administration

Location: News

Efficiency and alignment are key to 7th administration

Greater efficiency and the alignment of priorities will define the newly constituted seventh administration.

“What will define the seventh administration is strategic alignment of priorities, greater efficiencies, focus and the optimal use of resources,” President Cyril Ramaphosa said on Monday.

Replying to the Opening of Parliament Address (OPA) debate, President Ramaphosa said South Africans expect government to chart the country towards the ultimate goal of a better life for all.

“As we said, our priorities are inclusive growth and job creation, reducing poverty and tackling the high cost of living, and building a capable, ethical and developmental state,” President Ramaphosa said.

President Ramaphosa said during much of the sixth administration, government worked to address the challenges that impeded growth, such as state capture, lack of reforms, COVID-19 and others. 

“We also worked to overcome the silo mentality that pervaded the work of government, and which in the past had contributed to inefficiency, duplication and wastage of resources.”

He said the Government of National Unity (GNU) must demonstrate in word and deed that the seventh administration is an era of a government of national unity and not a fleeting convenience.

“At the same time, we all understand what is expected of us by those who put us here,” President Ramaphosa said.
The President who delivered the OPA on Thursday, said it was important to examine the progress made by the nation in addressing the “the challenges our people face.”

READ | 'We will succeed' - President Ramaphosa on prospects of GNU

Last year, South Africa submitted its third country report to the United Nations (UN) on its progress towards meeting the Sustainable Development Goals (SDG).

The President said the UN report highlighted important trends towards meeting SDG targets in eradicating poverty and hunger, in good health and well-being, in inclusive and equitable quality education, in the provision of clean water and sanitation, in climate action, in building strong institutions for peace and justice and others.

He added that government’s 30 Year Review report and the results of Census 2022 are testament to the considerable progress the democratic state has made in pursuing equitable and sustainable development.

“On eradicating poverty and hunger, more indigent South Africans are accessing grants as part of an extensive social security net to mitigate the worst effects of poverty.

“Sixty percent of our national budget is spent on the social wage and programmes vital to reducing poverty and supporting the poor.

“When the worst global health emergency in modern times struck in the form of the COVID-19 pandemic, we were able to shelter society’s most vulnerable through the provision of special COVID grants, a scheme to support workers’ wages, and support to businesses affected by the lockdowns,” the President said.

READ | Government creates better life during 30 years of democracy

President Ramaphosa said over the next five years, government will be putting further programmes in place to reduce poverty and mitigate the effects of the high cost of living, especially on the poorest of the poor.

NHI 

With regards to the National Health Insurance (NHI), President Ramaphosa said a key task for government over the next five years will be to ensure that everyone in South Africa has equal access to affordable quality healthcare through the implementation of health insurance.

“We are unwavering in our commitment to implement universal health coverage in a manner that brings all South Africans on board. We will continue with dialogues, with exchanges, with interactions to make this an important programme for our people,” President Ramaphosa said. – SAnews.gov.za

 

Edwin
Mon, 07/22/2024 - 12:42

255 views
Read moreEfficiency and alignment are key to 7th administration
22 July 2024

Reimagine reading with kibooks.online

Location: MyPR

Keen to make it easier for children to access reading material online, kibooks.online wants to make reading fun again. [03 July 2024] The Qualibooks Group is looking to bring the fun back to reading with its online platform, kibooks.online. A fully online platform, kibooks.online provides children with access to around 8000 top-quality books that they …

Read moreReimagine reading with kibooks.online
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