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National Treasury publishes Policy Position Statement on financial ombud system

Location: News

National Treasury publishes Policy Position Statement on financial ombud system

National Treasury has published its Policy Position Statement titled, 'A Simpler, Stronger Financial Sector Ombud System', which outlines proposed reforms to the ombud system.

The Policy Position Statement follows the publication of a World Bank Diagnostic Study in 2021 titled, 'South Africa - Financial Ombud System Diagnostic'.

“The study provided an independent review of South Africa’s financial ombud system and recommended reforms to enhance consumer protection and encourage good quality outcomes in the financial services sector,” National Treasury said on Thursday.

Prior to the diagnostic study, an earlier discussion document titled, 'A Known and Trusted Ombud System for All (2017)', had proposed initial reforms to the ombud system, which were later included in the Financial Sector Regulation (FSR) Act (Act 9 of 2017), as part of the Twin Peaks financial sector regulatory reform.

National Treasury said the publication of the policy position is a necessary step to communicate and publish its Policy Position Statement and accompanying detailed feedback statement, including an implementation plan.

“This publication also provides a response to consultation comments, and enables ombud schemes and the Ombud Council to work towards implementing a reformed structure,” National Treasury said.

Key elements of the proposed reform that National Treasury supports include:

  1. Structural reform of the ombud system, that will reduce the seven ombud schemes to two:
  • A new, consolidated ombud scheme: National Financial Ombud (NFO) – a new body, independent of industry and government, replacing 6 of the current 7 schemes (all the industry schemes plus the FAIS Ombud).
  • A Retirement Funds Ombud (RFO) – a renamed and reformed Pension Funds Adjudicator, with a board to underpin its independence and oversee its efficiency and effectiveness. National Treasury considers that it would be too complex a transition for the NFO to absorb the work of the RFO at this stage. However, this is likely to happen in the medium term, once the NFO has been up and running for a while.
  1. A modified Ombud Council – modifications to the title and appointment of its chief executive and (later) a review of its powers in the light of the simplification of the ombud system.
  2. Improved consistency across the ombud system on visibility and accessibility, eligibility of complainants, processes, powers and enforceability of decisions, and improved coverage to significantly reduce jurisdictional gaps and overlaps

“Full implementation of the above reforms will require legislative amendments. In the interim, National Treasury notes and welcomes the voluntary amalgamation, in consultation with the Ombud Council, of four of the current industry schemes (Credit, Banking, Long-term Insurance and Short-term Insurance) to form a new, streamlined industry scheme, the National Financial Ombud Scheme South Africa (NFO).

“The NFO is expected to commence operations on 1 March 2024, after recognition by the Ombud Council. This is an important step towards the broader reforms outlined in the policy position and will simplify their implementation,” National Treasury said.

The following documents are available on the website of the National Treasury at www.treasury.gov.za:

  • Annexure A: A Simpler, Stronger Financial Sector Ombud System: Policy Position Statement.
  • Annexure B: A Simpler, Stronger Financial Sector Ombud System: Feedback Statement.

- SAnews.gov.za

nosihle
Thu, 02/29/2024 - 13:25

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Read moreNational Treasury publishes Policy Position Statement on financial ombud system

SA Athlete Prize Incentives announced for 2024 Absa RUN YOUR CITY Series

Location: MyPR

Following the recent announcement of the Absa RUN YOUR CITY Series’ unprecedented, combined Prize Purse of R 1,560,000.00 in 2024, Stillwater Sports, the organisers of South Africa’s acclaimed road running series, have also unveiled an impressive “SA Athlete Prize Incentive Schedule” for the 2024 edition of the series. The “SA Athlete Prize Incentive Schedule” is …

Read moreSA Athlete Prize Incentives announced for 2024 Absa RUN YOUR CITY Series

What Problems Does Straton Prepaid Solve?

Location: MyPR

Straton Prepaid primarily caters to individuals who use prepaid electricity and water meters, aiming to solve several problems they might face: 1. Managing prepaid meters: Problem: Difficulty understanding meter readings, managing balances, and topping up credit conveniently. Solution: The website offers information on different types of prepaid meters,their features, and troubleshooting tips. It also provides …

Read moreWhat Problems Does Straton Prepaid Solve?

Mgabhi laces up for 520km ultra to provide another 520 pairs of school shoes

Location: Sport

22 February 2024 – She’s already raised over R3 million to upgrade school buildings, build offices and toilet blocks, and buy school shoes for children who don’t have them, and Nontuthuko Mgabhi is not done yet. Inspired by the struggles of many KwaZulu-Natal children who face barriers to education due to the lack of basic …

Read moreMgabhi laces up for 520km ultra to provide another 520 pairs of school shoes

Maloyi says encouraging signs of recovery in the province 

Location: News

Maloyi says encouraging signs of recovery in the province 

Economic growth in the North West remains slow despite the province’s abundant mineral resources, according to Acting Premier Nono Maloyi.

“While our province is endowed with vast mineral deposits, we continue to be inundated by high levels of poverty and unemployment. 

“Economic growth remains sluggish, and this has had an adverse impact on our efforts to
create jobs for our people,” Maloyi said on Tuesday, delivering his State of the Province Address (SOPA).

However, the Acting Premier, announced that there are encouraging signs of recovery. 

During his speech to the provincial legislature, he highlighted that the North West was one of only three provinces that experienced significant employment growth in the third quarter of 2023, resulting in the creation of over 61 000 jobs.

“The unemployment rate in the North West gives us sleepless nights, particularly because it affects mainly women and the youth.”

According to Maloyi, two investment promotion events were held with major investors. 

These include the North West BRICS Investment Conference held during the BRICS Summit last year and the Premier’s Dinner with investors in September 2023 at Sun City, of which both events have yielded positive outcomes.

Both initiatives yielded 34 investment pledges with a total value of over R104.1 billion.

To date, Maloyi told the members, 14 have confirmed investment projects to the tune of R13.5 billion, which are in the pipeline for the Bojanala Special Economic Zone.

These investments will create an additional 10 000 jobs.

Tourism

Meanwhile, he said the province’s Tourism Recovery Plan has begun to realise growth in the number of both domestic and international visitors.

“Between 2022 and 2023 our industry has risen from the ashes of the COVID-19 pandemic, and this has generated R6.9 billion in revenue for the province thereby creating and preserving 24 000 jobs.” 

He said this government has already started the process of revitalising the Pilanesberg and George Dick Montshiwa Airports.

“Both these airports will add capacity to the province to grow tourism and open new economic frontiers in cargo hauling, hanger, and airline services. We have sent Request for Proposals for running these two airports and lure investments,” he explained, adding that the preferred bidders will commence work by May this year.

In addition, the Acting Premier announced that the agricultural sector is yet to reach its full potential through the meaningful participation of emerging farmers in this growing sector.

Economic policy

“Honourable Speaker, economic development challenges require coherent policy responses backed-up by long-term planning.”

In addition, the province has now finalised the Provincial Growth and Development Strategy (PGDS) with a primary aim to provide a broad economic policy-planning guide and anchor interventions to meet the goals as set out in the National Development Plan 2030.

This, he said, has now enabled the provincial government to complete the resuscitation of the Premier’s Economic Advisory Council.

The council will provide strategic support and coordination in the implementation of the Provincial Growth and Development Strategy, and promote integrated economic planning and sector contributions.

Internships

During this financial year, close to 900 internships and learnerships benefitted young people in various departments, municipalities, State-owned entities (SOEs) and the Sector Education and Training Authority (SETAs).

He announced that the North West would prioritise young people in various infrastructure projects that will be rolled out in the 2024/25 financial year.

“Women are the backbone of our provincial economy. Eight women-led cooperatives and individuals will benefit from R1.4 million, which has been set aside for their upskilling and business growth.” – SAnews.gov.za

 

Gabisile
Tue, 02/20/2024 - 12:23

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Crocworld’s rehabilitated tortoise needs a current name!

Location: MyPR

In the few months that the three-legged leopard tortoise has lived at Crocworld Conservation Centre, it has already befriended a fellow ‘tripod’ tortoise who is also being rehabilitated at the Scottburgh centre. To make the latest Crocworld resident really feel part of the family, the team at Crocworld is calling on the public to suggest …

Read moreCrocworld’s rehabilitated tortoise needs a current name!

Absa SPRINT YOUR CITY Series announces a R1,560,000 Prize Purse for 2024

Location: MyPR

Stillwater Sports, the team behind South Africa’s acclaimed road running series, is thrilled to reveal that the Absa RUN YOUR CITY Series will boast an impressive, combined Prize Purse of R 1,560,000.00 in 2024. Transforming the landscape of road running since its inception in 2015, the Absa RUN YOUR CITY Series comprises five mass participation …

Read moreAbsa SPRINT YOUR CITY Series announces a R1,560,000 Prize Purse for 2024

Canon and MindMe International forge partnership to Empower Kenyan Youth through Creative Storytelling

Location: Business
Canon Central and North Africa (CCNA)

Canon Central and North Africa (Canon-CNA.com), a global leader in imaging solutions, is pleased to announce a transformative partnership with MindMe International (MMI), a registered NGO based in Kenya. This collaboration aims to empower marginalized communities through sustainable development, with a focus on fostering positive change in young individuals' lives. 

Central to this collaboration is the shared objective of transforming young participants into effective storytellers. The programme's structured approach includes providing access to equipment, teaching photography skills, showcasing examples and case studies, and guiding participants to tell their stories authentically. Upon completion of the programme, participants will be awarded certificates by Canon, to acknowledge their dedication and accomplishments.  

“Canon is proud to partner with MindMe International on this impactful initiative, empowering young individuals to become creative storytellers who can authentically represent their communities. Through the Young People Programme, we aim to provide these young talents with the tools and skills needed to make a lasting impact in their communities and beyond,” says Jeanine El Moughrabi, Developing Regions Sustainability Manager

The programme, officially commenced on 8 February 2024, and kicked off with an introductory event on 1 February. MindMe International, dedicated to eradicating extreme poverty through localized development, will work hand in hand with Canon to run a three-month initiative targeting young people between 11 and 17 years. The workshops are being held at Woodcreek School in Kiambu County, Kenya, with 20 participants.  

An integral part of the collaboration is the commitment to the United Nations Sustainable Development Goals (SDGs). Through the Young People Programme (YPP), Canon and MindMe International envision empowering the youth to amplify the SDGs through their narratives. The aim is not only to equip young individuals with practical skills but also to inspire them to become advocates for positive change in their respective communities. 

With the initiative running for three months, it allows for the outcomes to be accurately monitored to evaluate the programme's success and impact. The program comprises 12 workshops scheduled every Thursday, that commenced on February 8th and will conclude on May 30th, along with the utilization of Canon EOS 4000D cameras.

The culmination of the initiative will be marked by an engaging exhibition showcasing the creative images produced by the young participants. This exhibition will provide a platform for the youth to express themselves creatively and share their unique perspectives on sustainability and community development. Local suppliers in Kenya will be involved in printing toolkits and resource materials for the exhibition, contributing to a positive economic ripple effect and promoting environmental sustainability.  

This collaboration builds on the success stories of similar initiatives, such as Kgaugelo Neville Ngomane, a participant in the Young People Programme South Africa, who won the CIWEMs International Young Environmental Photographer of the Year Award. This partnership is poised to create more success stories, scholarships, jobs, and internships for the young participants, emphasizing the potential for meaningful impact.  

Carol Kiiru, Director-MindMe International: “MindMe International envisions a world where sustainable development is accessible to all, breaking the chains of extreme poverty. Through our collaboration with Canon in the YPP, we strive to empower marginalized youth, aligned in our Education and Youth (Arts and Digital empowerment) programmes providing them with the tools to tell their stories and advocate for positive change. By fostering creativity, skills, and community engagement, we are aligning with the SDGs and shaping a future where every voice, regardless of background, contributes to building a society free from inequality and poverty.”  

Through this partnership, Canon and MindMe International send a powerful message about the significance of empowering young people to be agents of positive change in their communities. Young voices, when equipped with the right skills and platforms, can inspire, and drive social change. In addition, the collaboration serves as an outstanding example of how private and non-profit sectors can work together to contribute to a more sustainable and equitable future.  

Distributed by APO Group on behalf of Canon Central and North Africa (CCNA).

Media enquiries, please contact:
Canon Central and North Africa
Mai Youssef
e. Mai.youssef@canon-me.com

APO Group - PR Agency
Rania ElRafie
e. Rania.ElRafie@apo-opa.com

About Canon Central and North Africa:
Canon Central and North Africa (CCNA) (Canon-CNA.com) is a division within Canon Middle East FZ LLC (CME), a subsidiary of Canon Europe. The formation of CCNA in 2016 was a strategic step that aimed to enhance Canon's business within the Africa region - by strengthening Canon's in-country presence and focus. CCNA also demonstrates Canon's commitment to operating closer to its customers and meeting their demands in the rapidly evolving African market.

Canon has been represented in the African continent for more than 15 years through distributors and partners that have successfully built a solid customer base in the region. CCNA ensures the provision of high quality, technologically advanced products that meet the requirements of Africa's rapidly evolving marketplace. With over 100 employees, CCNA manages sales and marketing activities across 44 countries in Africa.

Canon's corporate philosophy is Kyosei (https://apo-opa.co/3SvVhrS) – ‘living and working together for the common good'. CCNA pursues sustainable business growth, focusing on reducing its own environmental impact and supporting customers to reduce theirs using Canon's products, solutions and services. At Canon, we are pioneers, constantly redefining the world of imaging for the greater good. Through our technology and our spirit of innovation, we push the bounds of what is possible – helping us to see our world in ways we never have before. We help bring creativity to life, one image at a time. Because when we can see our world, we can transform it for the better.

For more information: Canon-CNA.com

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Canon Central and North Africa (CCNA)
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Read moreCanon and MindMe International forge partnership to Empower Kenyan Youth through Creative Storytelling

Parents urged to give consent for HPV vaccine

Location: News

Parents urged to give consent for HPV vaccine

Gauteng MEC for Health and Wellness, Nomantu Nkomo-Ralehoko, has appealed to parents, caregivers and legal guardians who have not yet signed the consent form to vaccinate young girls against cervical cancer with the HPV vaccine to do so.

According to the United Nations Children's Fund (UNICEF), after breast cancer, cervical cancer is the second most common and leading cause of cancer deaths among women in South Africa, particularly among adolescents and women aged 15 to 44.

Over 70% of cervical cancer cases are caused by the infection to the cervix (mouth of the womb) by the Human Papillomavirus (HPV), which is sexually transmitted.

"In the country, more than 5 000 new cases are reported every year, and most are fatal. In order to ensure that girls are and remain protected against cervical cancer later in life, it is important that they get the HPV vaccine between the ages of 9 and 15, before they are sexually active," the Gauteng Department of Health said on Sunday.

To effect this life-saving approach, the Department is currently running the HPV vaccination first round campaign in all public primary and special schools in Gauteng, which commenced on 05 February and will end on 20 March 2024.

The campaign is mainly targeted at Grade 5 girls aged nine and above and are vaccinated with a single dose of the Cervarix HPV Vaccine, which is very safe and effective in preventing the HPV infection caused by type 16 and 18 HPV strains.

“We wish to appeal to those who had not signed the consent to think about the long-term implications of not having their children immunised. By giving consent, you are taking a responsible step to ensure that we save the future of our girls, a single dose at a time,” the MEC said.

During the previous vaccination drive in September to October 2023, a total of 74 359 out of 87 910 (84.6%) Grade 5 girls were fully vaccinated with the HPV second dose vaccine.

The department said those girls who were not yet nine-years-old or were absent during the campaign will be given their catchup single doses.

Unlike in the previous years, the vaccine is now administered in a single dose instead of two.

A mother of an eligible nine-year-old girl, Matshidiso Luta (39) from Vereeniging, who is also a cervical cancer survivor said that she was pleased that she received the consent form and gave permission for the school health team to administer the HPV vaccine on her daughter.

“I feel very blessed and relieved knowing that my daughter will get the HPV vaccine to protect her against cervical cancer. I do not want to see her go through the same stressful, difficult, and painful time I went through during my battle with the disease,” Luta said.

A consent form that is signed and ticked on all the boxes at the beginning of the year is used for routine comprehensive Integrated School Health Programme (ISHP) and is valid for the whole year.

ISHP includes school health screening (eye health, hearing, oral assessment, nutritional assessments, deworming) and onsite health services. –SAnews.gov.za

 

 

nosihle
Sun, 02/18/2024 - 11:02

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Read moreParents urged to give consent for HPV vaccine

Sixth administration cracking down on crime – Lamola

Location: News

Sixth administration cracking down on crime - Lamola

Minister of Justice and Correctional Services, Ronald Lamola says the sixth administration is steadily rebuilding law enforcement agencies like the National Prosecuting Authority to fight crime.

Lamola was speaking during the debate of the State of the Nation Address held in Cape Town.

“[It] is the sixth administration that strengthened the work of law enforcement agencies like the NPA [National Prosecuting Authority] by appointing permanent leadership in the upper echelons of the NPA and the SAPS [South African Police Service] and increased the operational budget resulting in visible institutional growth and stability.

“Organized crime verdicts have increased by 21% from 193 to 234 at a conviction rate that is above 80%. Gang leaders are behind bars or in court, whether it is Jerome Booysen, Nafik Modak, Ralph Stanfield, Mark Lifman and Vusi Khekhe, all are behind bars.

“The conviction rate in gender-based violence and femicide matters is at 74.6%. When it comes to successful prosecutions for cable theft matters, the NPA has exceeded some of the targets, the conviction rate is well above 85%, 299 convictions have been obtained from 347 cable theft verdicts,” Lamola said.

The Minister added that R3.2 billion from the criminal assets recovery funds has been allocated to fighting illegal mining and organised crime.

Furthermore, 2 996 arrests have been executed related to illegal mining activities as at December last year.

“SAPS is implementing Operation Shanela, a comprehensive plan to combat crime throughout the country. The plan includes clamping down on illegal mining areas.

“At the end of last year, the Asset Forfeiture Unit, Special Investigation Units and the Hawks have secured preservation orders to freeze assets which are proceeds of unlawful activities of a syndicate dealing in unwrought gold in Gauteng province.

“The frozen assets include 51 properties with a value of more than R16 million. In Mpumalanga, they secured a preservation order of assets worth more than one billion rands. The message is clear, crime does not pay and the tide against crime is turning,” Lamola said.

‘I am Tintswalo’

Harking back to President Cyril Ramaphosa’s SONA last week in which he described the life of Tintswalo, Lamola described how he himself is a product of progressive government policies.

He recalled how he benefitted from the Tertiary Education Fund of South Africa (TEFSA), now known as the National Student Financial Aid Scheme (NSFAS), after his parents who were both farmworkers could not afford his tertiary education.

“I can stand here in this house [and say] with great conviction that had it not been for …government’s expansion of TEFSA and my sister paying for my university registration and monthly stipend, I would not be standing here today.

“I would not have been an Attorney of the High Court of South Africa having appeared in the highest Court in the world, the ICJ, on global affairs. My life was predestined as a farm worker [by] design by the apartheid government and not by choice.

“The village where I come from, Cunningmore B in Mpumalanga, had no electricity nor running water. Today there is electricity, running water and tarred roads, so are many villages across the country.

“[NSFAS]…results are tangible. You can touch them with your bare hands,” he said. – SAnews.gov.za

 

NeoB
Thu, 02/15/2024 - 09:59

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Recovery region for power outages in Karoo underway

Location: News

Recovery plan for power outages in Karoo underway

Eskom says its electricity supply recovery plans for towns in the Karoo, which lost power due to severe damage to infrastructure during inclement weather, are progressing well.

The damage cut electricity supply to Sutherland, Roggeveld, Laingsburg, Ladismith, Leeu Gamka, Swartberg, Merweville, Matjiesfontein, Prince Albert, Fraserburg and the surrounding areas.

“Eskom's recovery plan to repair the infrastructure… is making significant progress with the electricity restoration date (ETR) in sight. The ETR remains this Thursday, even though teams are pushing to secure an earlier date and time to bring back electricity supply to the affected towns in the Karoo,” the power utility said.

Eskom assured customers that repairs are “near completion”.

“To date, the intermediate structures have been planted. Two conductors, with one phase each, are running along the intermediate structures as part of the stringing process. The remaining four conductors will be run today, with stringing to commence.

“Eskom understands the frustration of these customers that must endure such a prolonged period without electricity and can assure them that the multiple teams onsite are working around the clock to bring back supply as soon as possible.

“Eskom thanks all its stakeholders for their continued support and the affected customers for their patience and understanding,” Eskom said. – SAnews.gov.za

NeoB
Wed, 02/14/2024 - 09:58

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PUMA NITRO™ RUNS launched in preparation for Absa RUSH YOUR CITY GQEBERHA 10K

Location: MyPR

Gqeberha residents are invited to join eight action-packed PUMA NITRO™ RUNS that will be hosted in the friendly city in the buildup to the second annual Absa RUN YOUR CITY GQEBERHA 10K that will take place on Sunday 07 April 2024. “We are thrilled to launch our PUMA NITRO™ RUN campaign in the picturesque city …

Read morePUMA NITRO™ RUNS launched in preparation for Absa RUSH YOUR CITY GQEBERHA 10K