Tag: September 2023
Discovery reports solid results despite ‘tough, complex and volatile’ year
In the fiscal year ending June 2023, Discovery reported a 24% increase in normalized operating profit, reaching R11.66 billion. This growth was driven by...
Clientele takes a stand against increased debit order reversals
Clientèle has taken legal action against the Payments Association of SA (Pasa) in the Johannesburg High Court to prevent clients from declaring false disputes...
African Bank’s MyWORLD account is no longer free
African Bank has introduced a fixed monthly fee of R5 for its previously free MyWORLD Account, effective from October 1, 2023. This change is...
TymeBank rolls out medical insurance targeted at domestic workers
TymeBank has joined forces with the National HealthCare Group to offer an accessible primary healthcare insurance solution, starting at R139 per month, targeting third-party...
BusinessTech compares the biggest banks in SA
South Africa's banking sector has seen both traditional "big five" banks and newer entrants like Discovery Bank and TymeBank compete. When evaluated across various...
OUTsurance pays special dividend amid bumper earnings
OUTsurance has reported a robust annual performance with a 62% increase in normalised earnings from continuing operations to approximately R2.9 billion for the fiscal...
AllLife launches Uninsurable, a new broker-centric offering
AllLife, a South African provider of life insurance for individuals with chronic diseases, has launched "Uninsurable," a tool designed for brokers seeking insurance options...
Cement industry is at risk of substantial losses due to imports
Approximately 2 200 jobs in South Africa's cement industry are at risk due to imports, with cheaper imported cement pricing up to 40% lower...
Momentum reports another year of solid earnings growth
Momentum Metropolitan reported normalised headline earnings of R5.1 billion for the fiscal year ending 30 June 2023, representing a 16% increase. The strong earnings...
Sibanye-Stillwater starts retrenchment talks putting 3 000 jobs at risk
Sibanye-Stillwater, a South African mining company, has issued retrenchment notices at its Kloof 4 shaft, potentially affecting around 3 000 workers. This move follows...