Podcasts about african bank

Jane Dutton speaks to Maya Fischer-French, Personal Finance Journalist at Maya on Money about the R700,000 fine imposed on African Bank by the Financial Sector Conduct Authority for a misleading social media advert that referred to a personal loan as an "investment". The Money Show is a podcast hosted by well-known journalist and radio presenter, Stephen Grootes. He explores the latest economic trends, business developments, investment opportunities, and personal finance strategies. Each episode features engaging conversations with top newsmakers, industry experts, financial advisors, entrepreneurs, and politicians, offering you thought-provoking insights to navigate the ever-changing financial landscape.Thank you for listening to The Money Show podcast.Listen live - The Money Show with Stephen Grootes is broadcast weekdays between 18:00 and 20:00 (SA Time) on 702 and CapeTalk.There’s more from the show at www.themoneyshow.co.zaSubscribe to the Money Show daily and weekly newslettersThe Money Show is brought to you by Absa.Follow us on:702 on Facebook: www.facebook.com/TalkRadio702702 on TikTok: www.tiktok.com/@talkradio702702 on Instagram: www.instagram.com/talkradio702702 on X: www.x.com/Radio702702 on YouTube: www.youtube.com/@radio702CapeTalk on Facebook: www.facebook.com/CapeTalkCapeTalk on TikTok: www.tiktok.com/@capetalkCapeTalk on Instagram: www.instagram.com/capetalkzaCapeTalk on YouTube: www.youtube.com/@CapeTalk567CapeTalk on X: www.x.com/CapeTalk See omnystudio.com/listener for privacy information.

Nosipho Radebe is in conversation with Darryl Adriaanzen, Group Chief Operations Officer at African BankSee omnystudio.com/listener for privacy information.

Nosipho Radebe speaks to Anbann Chetty, Group CFO at African Bank See omnystudio.com/listener for privacy information.

Stephen Grootes speaks to CFO Anbann Chetti about African Bank Holdings Limited's latest annual financial results, which show a solid performance despite a tough economic environment, and the bank's progress in implementing its Excelerate25 strategy.See omnystudio.com/listener for privacy information.

Kennedy Bungane – CEO, African Bank SAfm Market Update - Podcasts and live stream

This evening we look at the markets with PSG Old Oak, speak to the CEOs of African Bank, Zeda, and Vukile Property Fund about their respective results, and the South African Iron and Steel Institute joins us to discuss a massive new steel factory in Zimbabwe and the impact it's likely to have on South Africa's steel industry. SAfm Market Update - Podcasts and live stream

Awakening the Audacity to Believe. Nosipho Radebe is in conversation with the Group CEO at African Bank, Kennedy Bungane. #POWERBusiness #AfricanBank #AudaciousLeaders #AudacityToBelieveSee omnystudio.com/listener for privacy information.

The Evolution of the African Merchant.  Nosipho Radebe is in conversation with the Chairman of the Board at African Bank, Thabo Dloti to expand on the importance of tonight's event.See omnystudio.com/listener for privacy information.

We are at the launch of the Black Pioneers: The Untold Stories of African Merchants, our panel discussion is chaired by Thabiso Tema. Our panelists are: Chairman of the Board at African Bank, Thabo Dloti Group CEO at African Bank, Kennedy Bungane Author of the African Bank Black Pioneers, Phakamisa Ndzamela Maponya Family Spokesperson, Chichi MaponyaSee omnystudio.com/listener for privacy information.

22nd Oct: Blockchain DXB Podcast

Kokkie Kooyman – Director, Denker Capital SAfm Market Update - Podcasts and live stream

After months of delays, DRC finally names a new (and smaller) government; Madagascar has elections the same day as South Africa; African Bank projects 3.7% growth for the continent for this year and 4.3% next year. Jean Jacques Cornish shares the details on these stories with Lester Kiewit. See omnystudio.com/listener for privacy information.

Africanbank Holdings recently shared their preliminary results as noteworthy and optimistic as they had achieved a number of milestones in moving forward with their plan to list in 2025. To unravel the mystery of what all of this means is CEO at African Bank, Kennedy Bungane who joins host Bruce Whitfield.See omnystudio.com/listener for privacy information.

Noluthando Mthonti-Mlambo speaks to Black Management Forum Managing Director, Monde Ndlovu.See omnystudio.com/listener for privacy information.

Concerns abound as industrial gas users express dissatisfaction with the proposed solutions outlined in the draft gas master plan, fearing a looming crisis in 2026. The plan's unrealistic timelines and absence of viable remedies have left stakeholders apprehensive about the future, with the looming threat of "day zero" when gas supply from Mozambique ceases. As pressure mounts, Jaco Human, CEO of the Industrial Gas Users Association of Southern Africa emphasises the need for swift and effective action in order to  avert potential economic repercussions and job losses   Business executives and financiers commemorate the legacy of Dr. Samuel Motsuenyane, regarded as the pioneer of Black entrepreneurship, following his passing at the age of 97. Motsuenyane, a founding member of the National African Federated Chamber of Commerce and Industry, was instrumental in establishing the African Bank.   Warren Ingram, a personal finance expert and Co-Founder of Galileo Capital, joins host Bruce Whitfield to explore the timing and rationale behind engaging in the lottery and the growing popularity of sports betting. Despite the prevalent scepticism surrounding these activities, they delve into the underlying motivations that drive individuals to participate, considering the slim odds of winning in the lottery.See omnystudio.com/listener for privacy information.

Business executives and financiers commemorate the legacy of Dr Samuel Motsuenyane, regarded as the pioneer of Black entrepreneurship, following his passing at the age of 97. Motsuenyane, a founding member of the National African Federated Chamber of Commerce and Industry, was instrumental in establishing the African Bank. GUEST: Dr Thabo Dloti| Chairman of African Bank board|, Cas Coovadia | CEO at Business Unity SA|, Bongi Kunene | Banking Association SA See omnystudio.com/listener for privacy information.

Naledi Mfoloe reports on bank being accused for institutionalized racism --- Send in a voice message: https://podcasters.spotify.com/pod/show/africandiasporanews/message Support this podcast: https://podcasters.spotify.com/pod/show/africandiasporanews/support

Noluthando Mthonti-Mlambo speaks to the Group CFO at African Bank who gives reaction to Minister Godongwana's Budget speech. The minister said that the budget proposes tax increases totalling R15 billion for the 2024/25 fiscal year to alleviate “immediate pressures” on the budget. As part of this, there are no Inflation adjustments to the personal income tax tables and medical tax credits are provided for the year. This means that medical tax rebates will be the same as 2023 at R364 for members, R364 for the first dependent and R246 for every subsequent dependent.See omnystudio.com/listener for privacy information.

Anbann Chetti – CFO, African Bank SAfm Market Update - Podcasts and live stream

Chantal Marx of FNB on Sibanye's convertible bonds issue rattling the market and Telkom's results. African Bank CFO Anbann Chetti discusses its results, as bad debts rise. Hein Reyneke of Mainstream Renewable Power on reaching financial close on its 97.5 MW solar PV project.

Guest: Kennedy Bungane | CEO at African Bank| See omnystudio.com/listener for privacy information.

African Bank's earnings have come under pressure. Profit for the year slumped over 31% to R505 million, as the lender's bad debts rose. Business Day TV discussed the annual performance with Zweli Manyathi, Group Executive for Business Banking at African Bank.

African Bank Soweto Marathon Expo FNB Stadium #OB

Zweli Manyathi, AGroup Executive Business Banking at African Bank discusses the bank's growth plans and its acquisition of Sasfin's commercial divisions - a third acquisition in 18 months     Siyabonga Mthembu|BDO Audit Partner  on The Money Show Explainer: The implosion of Transnet. And why does it matter who runs it next?    Friday File with Sarah Kennan | Founder/Owner of Leonista See omnystudio.com/listener for privacy information.

In today's episode one quick takeaway from Freshworks's first investor day since the company went public two years ago, but first a few headlines. Headlines NVIDIA and Reliance Industries, on Sep. 8, announced a collaboration to develop India's own foundation large language model trained on the nation's diverse languages and tailored for generative AI applications to serve the world's most populous nation, according to a press release from the AI GPU maker. Apple's much anticipated iPhone 15 will be unwrapped tomorrow, and it will be nighttime in India. One big change everyone's expecting is of course the USB-C port that Apple's been forced to switch to, after the European Union mandated it for most electronics gadgets by next year. One thing today So last week, Freshworks organized its first investor day, on Sep. 7. Of course, the company has been providing quarterly updates and holding conference calls with analysts and so on since it was listed on the Nasdaq stock exchange two years ago. But this was a bona fide investor-focused meet where the company provided some granular data on how it's doing and where it's headed. The one takeaway for me, and probably for many others, was that the company's Freshservice product is growing more than twice as fast as the company's overall growth rate, and not on a very small base either. As many of you know Freshworks was founded in 2010. It has headquartered in San Mateo, California, and CEO Girish Mathrubootham told analysts and investors that 85 percent of the company's 5,000 or so employees are in India. Mostly in Chennai, but also in Hyderabad, Bengaluru and elsewhere. The company has over 65,000 customers and 19,000 of those pay the SaaS vendor $5,000 or more every year in subscription fees of its software. Among its customers are Coca Cola, Honda, Sotheby's, Thomas Cook, Klarna, African Bank, PhonePe and Mahindra Group. This year, as Freshworks pushes to become profitable, it's delivering 10 percent free cash flow margins, Mathrubootham said. Freshworks started with a customer support software, Freshdesk, and today the overall customer support software business is at about $300 million ARR, and growing in the low to mid-teens percent annually, Mathrubootham said. But it's Freshservice, the IT service management software and related products, that's emerged as the most promising component of the company's product portfolio. “Today, that's our fastest growing product with north of $250 million in ARR (annual recurring revenue),” Mathrubootham said. An important reason could be that, especially post Covid, large businesses have been overhauling their IT, moving to the cloud and looking for ways to reduce the complexity of managing a hoard of the technology solutions, including multiple software subscriptions. Freshservice clocked $260 million in ARR as at the end of the June quarter, which is Freshworks's fiscal Q2. It was growing at more than 40 percent at the time, compared with the company's overall growth rate of about 20 percent. The business has a total addressable market of some $20 billion, growing at 12 percent, according to market researcher and consultancy Gartner, including the areas of IT Service Management, IT Asset Management & Software Asset Management, IT Infrastructure Monitoring, AIOps, Service Orchestration and Automation Platforms. In this segment, “our customer is the CIO, or a senior IT leader, and we have a lot of traction in mid-market and in enterprise,” Freshworks's president Dennis Woodside said. The company has some 8,500 customers paying more than $5,000 in annual Freshservice subscription fees, he said. In the coming months and quarters, Freshworks will launch more features to capture adjacent opportunities, Dennis said, with industry specific solutions, such as government agencies, security, operations, governance, risk and compliance.

Sasfin's David Shapiro discusses the day's market moves, the rand's recovery, a change in local market sentiment, retailers as the top winners this week, where foreigners are putting their money, and how African Bank's results reflect the struggles of consumers. SAfm Market Update - Podcasts and live stream

Kennedy Bungane – CEO, African Bank SAfm Market Update - Podcasts and live stream

The Money Minute with Lennox WasaraSee omnystudio.com/listener for privacy information.

Sifiso Skenjana talks on the comprehensive overview and the vision and strategy of African Bank in line with Consumer banking and how the acquisitions set to transition the brand offerings with African Bank's Group Executive Consumer Banking, Sibongiseni Ngundze.See omnystudio.com/listener for privacy information.

Gustav Raubenheimer, finansiële hoof van African Bank gesels oor of hulle tevrede is met die verslag en hoe dit met die bankse digitale strategie gaan.

African Bank has delivered double digit growth in earnings as its annual profit after tax grew by 38%. The improvement comes as the number of loans it gave to its customers grew to above pre-covid levels, further boosting revenue earned from interest. Business Day TV spoke to the company's CEO, Kennedy Bungane for more of the detail

Gustav Raubenheimer – CFO, African Bank

African Bank says that all the conditions precedent to the Grindrod Bank transaction have been met and all regulatory approvals have been obtained. This sets the stage for the merger to now take place. Business Day TV caught up with Zwelibanzi Manyathi, group executive for business banking at African Bank for more insight into the transaction.

Kennedy Bungane – CEO, African Bank

For POWERSuit Tumisang Ndlovu speaks to Zweli Manyathi - African Bank, Group Executive for Business Banking on his journey and African Bank's outlook.See omnystudio.com/listener for privacy information.

Profile Interview with African Bank's Group Executive: Business Banking, Zwelibanzi ManyathiSee omnystudio.com/listener for privacy information.

Simon Shares Save R500k with a deposit. ETF closing prices are an absolute mess. Cashbuild (JSE code: CSB) results see them coming back to earth after a pandemic boost. Education stocks all published results. ADvTECH* (JSE code: ADH) is my pick, but all showing student growth and cash generation. Shoprite* (JSE code: SHP) gets permission to turn their money market account into a bank account. Grindrod (JSE code: GND) currently runs the service for Shoprite and African Bank is buying Grindrod Bank. Walmart (NYSE code: WMT) is set to make an offer to the Massmart (JSE code: MSM) minorities for the remaining 47% at 6800c. Netflix (Nasdaq code: NFLX) plans to price its ad-supported plan at $7-to-$9 per month with about 4 minutes of adverts per hour. Purple Group* (JSE code: PPE) back at 203c, always be very careful of casing a news story (the Asia deal announced last week with very few details). Tsogo Sun Hotels (JSE code: TGO) changes its name on 7 September. They will become Southern Sun Limited (JSE code: SSU). UK inflation, Goldman Sachs now saying 22% is possible next year. Sun International* (JSE code: SUI) strong results. Consumers under pressure shouldn't hurt too much as they mostly target higher LSMs and they paid the first dividend (88c) since 2016. Currently, ±3200c is resistance. Greylisting Financial Action Task Force (FATF) Cracking down on money laundering and funding terrorism. Greylisting can reduce a country's capital flows by as much as 7.6%, according to an IMF working paper. Cabinet has approved a raft of new amendment bills but leaving it late, very late. Our deadline is September/October after being put on the watch list last year. The important questions; Will we get greylisted? What happens if we do? If greylisted, how do we get off the list? * I hold ungeared positions.

Sifiso Skenjana speaks to African Bank CEO, Kennedy Bungane about the bank acquiring the majority of Ubank's assets, liabilities and staff.See omnystudio.com/listener for privacy information.

Investors got the fireworks they expected from Grindrod in the half year to end June, and despite a share price that has already trebled this year - the market rewarded the stock with another price increase. In this interview, CEO Andrew Waller talks to Alec Hogg of BizNews about his four year journey alongside former chairman Mike Hankinson (who retired in June) where their strategy was to streamline the business, sell off non-core assets and find a partner for Grindrod Bank (sold for R1.5bn to African Bank). He also talks highly about his CFO Xolani Mbambo who takes over when Waller departs in January. - explaining why he believes there's plenty more to come from the century-old KZN group. Learn more about your ad choices. Visit megaphone.fm/adchoices

African Bank has bought Grindrod Bank for R1.5bn, and if you understand the players in the banking sector, you'll know that this merger doesn't necessarily make sense on face value. The two banks could not be further apart in their business models: one focused on unsecured lending in the retail sector, and the other a specialised corporate and investment bank. We chat to David Polkinghorne, Grindrod Bank CEO, in this interview as he takes us on the journey. What we thought may have been a shotgun wedding turns out to be a measured approach to what we hope will be a sustainable marriage.

Zweli Manyathi – Group Executive: Business Banking, African Bank

Bruce Whitfield talks to Benedikt Sobotka, CEO of Eurasian Resources on the opportunities that mining has as the globe transition to clean energy. Kennedy Bungane , CEO at African Bank on their half-year results.  Martin Kromat,  senior Partner at Phatisa on the company leading a DFI consortium investment into RSA integrated food business. Petri Redelinghuys, founder at Herenya Capital Advisor explains reverse repo, and how they work and why they are important in the current climate See omnystudio.com/listener for privacy information.

Easing its lending criteria has helped African Bank more than double its interim profit after tax. The lender has reported an 11% increase in gross loans and advancements, and its credit loss ratio has declined to 4.6% from 6.1%. Business Day TV spoke to CEO Kennedy Bungane for his take on the performance.

Kennedy Bungane – CEO, African Bank

Want to make your summer more memorable? Along with African Bank we want to help you do just that! You can be one step closer to having a summer to remember by winning R5,000 in daily cash prizes. Ke Festive.

Want to make your summer more memorable? Along with African Bank we want to help you do just that! You can be one step closer to having a summer to remember by winning R5,000 in daily cash prizes. Ke Festive.

Tumisang Ndlovu speaks  to CEO of African Bank, Kennedy Bungane about the bank's annual financial results for the year ended 30 September 2021. See omnystudio.com/listener for privacy information.

African Bank is back in the black. The group has cited strong collections and growth in retail deposits, along with a lower credit impairment charge for its recovery.. Alishia Seckam unpacked the performance in greater detail with CEO Kennedy Bungane

Gustav Raubenheimer – finansiële hoof, African Bank

Kennedy Bungane – CEO, African Bank

Ignatius is the CEO of KPMG South Africa. He has over 22 years of experience within the Financial Services industry and has served in numerous positions as well as several board memberships in his career. These include serving as the Committee Chairman for the Audit Committee of the Public Investment Corporation (PIC), Chairman of the Risk and Capital Management Committee for African Bank, Chairman of Audit Committee of National Treasury, Director for the Thuthuka Education Upliftment Fund Directors Committee, Audit committee member of DBSA, Audit Committee chair of Old Mutual, member of Accounting Standard Board as well as a Committee Member for the Audit Committee and Nominating Committee of IFAC. He is also a member of the Specialist Committee on Company Law. He has held positions with several companies including Transnet Ltd, Fedics Food Services, Murray & Roberts, PricewaterhouseCoopers, and MTN. Previously he served as the Executive President of SAICA for two consecutive terms.

Ignatius is the CEO of KPMG South Africa. He has over 22 years of experience within the Financial Services industry and has served in numerous positions as well as several board memberships in his career. These include serving as the Committee Chairman for the Audit Committee of the Public Investment Corporation (PIC), Chairman of the Risk and Capital Management Committee for African Bank, Chairman of Audit Committee of National Treasury, Director for the Thuthuka Education Upliftment Fund Directors Committee, Audit committee member of DBSA, Audit Committee chair of Old Mutual, member of Accounting Standard Board as well as a Committee Member for the Audit Committee and Nominating Committee of IFAC. He is also a member of the Specialist Committee on Company Law. He has held positions with several companies including Transnet Ltd, Fedics Food Services, Murray & Roberts, PricewaterhouseCoopers, and MTN. Previously he served as the Executive President of SAICA for two consecutive terms.

Ignatius is the CEO of KPMG South Africa. He has over 22 years of experience within the Financial Services industry and has served in numerous positions as well as several board memberships in his career. These include serving as the Committee Chairman for the Audit Committee of the Public Investment Corporation (PIC), Chairman of the Risk and Capital Management Committee for African Bank, Chairman of Audit Committee of National Treasury, Director for the Thuthuka Education Upliftment Fund Directors Committee, Audit committee member of DBSA, Audit Committee chair of Old Mutual, member of Accounting Standard Board as well as a Committee Member for the Audit Committee and Nominating Committee of IFAC. He is also a member of the Specialist Committee on Company Law. He has held positions with several companies including Transnet Ltd, Fedics Food Services, Murray & Roberts, PricewaterhouseCoopers, and MTN. Previously he served as the Executive President of SAICA for two consecutive terms.

Fraudster pay so-called money mules to open bank accounts, and when the victims' money lands in that new account, they transfer it to the fraudster, thereby ensuring that the fraudster remains untraceable. “Capitec does not currently offer business accounts, therefore people should not believe a business that states it has one,” the bank said. "Should consumers fall victim to fraud – or even if they don't fall victim to the attempt – it is important to contact the bank to report the incident.” Capitec's 24-hour call centre on 0860 10 20 43. It's the same story with African Bank - the bank only has personal accounts, not business ones. Take a listen to how to avoid this scam. ECR Consumerwatch

Fraudster pay so-called money mules to open bank accounts, and when the victims' money lands in that new account, they transfer it to the fraudster, thereby ensuring that the fraudster remains untraceable. “Capitec does not currently offer business accounts, therefore people should not believe a business that states it has one,” the bank said. "Should consumers fall victim to fraud – or even if they don't fall victim to the attempt – it is important to contact the bank to report the incident.” Capitec's 24-hour call centre on 0860 10 20 43. It's the same story with African Bank - the bank only has personal accounts, not business ones. Take a listen to how to avoid this scam.

On Hanging out with Clement, we spoke to Basani Maluleke, Former CEO of African Bank. See omnystudio.com/listener for privacy information.

Offshore / U.S. economy added 559K jobs in May and unemployment fell to 5.8% / G7 nations set the minimum global corporate tax rate at 15% / AMC issues shares above the current share price / Biden expands blacklist to 59 Chinese companies / Apple staff back to work 3 days a week, starting September Local / Volaris ups offer to AdaptIT to 700c / Sibayne Stillwater to buy back 5% of shares / SARB selling their stake in African Bank / Famous Brands results / Prosus to buy Stack Overflow of US$1.8billion / Mark Barnes sells up to half his Purple Group shares

Kea Nonyana from ThinkMarkets talks Lewis and Mr Price financials. Leon Lourens, Pepkor CEO, unpacks the retailer's results as debt halves and Heps rises 50%. African Bank results with CFO Gustav Raubenheimer as impairments halve but the bank still reports a loss.

Gustav Raubenheimer - finansiële hoof, African Bank

Despite the negative impact that Covid-19 has had on the local economy, African Bank Holdings has returned to profitability. The company which owns 100% of lender, African Bank delivered an after-tax profit after R152m off the back of a 55% decline in bad debts. Business Day TV unpacked the company's interim results with CFO Gustav Raubenheimer.

Guest: Gustav Raubenhaimer | CFO at African Bank  See omnystudio.com/listener for privacy information.

Kennedy Bungane – Incoming CEO, African Bank

Bruce Whitfield speaks to Stuart Theobald, Financial Analyst and Chairman at Intellidex about Finance Minister Tito Mboweni's call to turn African Bank to a state bank. Friday file is Rayhaan Jhetam, Founder at Maverick And Jane Gourmet Popcorn  See omnystudio.com/listener for privacy information.

CEO of African Bank, Basani Maluleke is passionate about finance and studying the intricacies of customer behaviour. Her top priority, since taking the lead role at African Bank in 2018, has been to revamp the bank and work towards sustainable profitability, whilst maintaining and enhancing the relationship with new and existing customers. Basani believes that the Covid-19 pandemic has altered the financial services sector in South Africa, pushing it to learn and adapt at an increased rate. In this week's Business Unusual podcast, Ralf Fletcher, CEO of Topco Media sits down with Basani Maluleke to discuss her journey as the first black woman CEO of a South African bank, zooming in on how she's instilled imperative values in her work, building a strong cohort of data scientists, and planning ahead for the future of the economy. Basani shares valuable insight into the financial banking industry, emphasising the importance of great work culture, harnessing the power of a customer-centric model, and staying ahead of the curve, especially throughout this global pandemic. Basani Maluleke is Chief Executive Officer at African Bank, having been appointed to the role in 2018 following more than a decade at the bank, as a non-executive. Maluleke has a BCom LLB (University of Cape Town), MBA (Kellogg), and is an admitted attorney. She has over 10 years' financial services working experience and has also worked for Edward Nathan Friedland, FirstRand's RMB division as well as in various FNB divisions. More recently, she was an executive director of Transcend Capital, a corporate finance business specialising in B-BBEE ownership. Basani is also a key investor in the Click Foundation, a non-profit organisation that focuses on closing the gaps in education through technology. The organisation focuses on food supply, providing protective gear, and assisting parents and children with access to e-learning tools.

CEO of African Bank, Basani Maluleke is passionate about finance and studying the intricacies of customer behaviour. Her top priority, since taking the lead role at African Bank in 2018, has been to revamp the bank and work towards sustainable profitability, whilst maintaining and enhancing the relationship with new and existing customers. Basani believes that the Covid-19 pandemic has altered the financial services sector in South Africa, pushing it to learn and adapt at an increased rate. In this week's Business Unusual podcast, Ralf Fletcher, CEO of Topco Media sits down with Basani Maluleke to discuss her journey as the first black woman CEO of a South African bank, zooming in on how she's instilled imperative values in her work, building a strong cohort of data scientists, and planning ahead for the future of the economy. Basani shares valuable insight into the financial banking industry, emphasising the importance of great work culture, harnessing the power of a customer-centric model, and staying ahead of the curve, especially throughout this global pandemic. Basani Maluleke is Chief Executive Officer at African Bank, having been appointed to the role in 2018 following more than a decade at the bank, as a non-executive. Maluleke has a BCom LLB (University of Cape Town), MBA (Kellogg), and is an admitted attorney. She has over 10 years' financial services working experience and has also worked for Edward Nathan Friedland, FirstRand's RMB division as well as in various FNB divisions. More recently, she was an executive director of Transcend Capital, a corporate finance business specialising in B-BBEE ownership. Basani is also a key investor in the Click Foundation, a non-profit organisation that focuses on closing the gaps in education through technology. The organisation focuses on food supply, providing protective gear, and assisting parents and children with access to e-learning tools.

We use my long-awaited holiday to catch up to some user questions for the next three weeks. We hope you enjoy the shorter episodes as much as I plan on enjoying my break! IM I have an Old Mutual Endowment policy that matures in November 2020.. I also have a lump sum in a TymeBank account in various GoalSaves, which I don't need to use any time soon. I have another lump sum in an African Bank account.  I'm not sure whether I should pool all the money and put it into a fixed deposit account with African Bank for 5 years (the interest rate is very attractive at 10.01% annual interest payout) and have the interest payout annually, so that it doesn't go over the R23,800 tax exemption. Or should I take the money and invest it into ETFs, split 50/50 into local and international. With the idea of investing for dividends and growth. I know that I won't be sheltered from taxes if I do this. I was thinking of splitting it between the following ETFs (I use the same ETFs for my TFSA): Coreshares Preftrax Coreshares DivTrax Satrix Divi Coreshares Top 50 Coreshares Property Income Coreshares Global DivTrax 1nvest Global REIT Satrix MCSI World Satrix S&P500 Sygnia 4IR If I decide to do the fixed deposit, then I was thinking of using the interest payout each year and invest it in ETFs (and be subjected to taxes). My wife doesn't know anything about RA/TFSA tax benefits or investing, and has absolutely no interest in using her TFSA. I even helped create and set up one for her on Easy Equities. I could use the fixed deposit interest payout and then fund her TFSA each year and then top it up to max it out as well. However, the disadvantage is that on death, then the TFSA will form part of her estate. And then lastly, I could also put it into my RA, which I currently have with Sygnia (Sygnia Skeleton Balanced 70). I won't benefit from a tax return, but will possibly benefit from CGT, DWT and tax on interest earned. I'm finding it difficult to make a decision on what would be most beneficial. Any suggestions on what I could do with this lump sum? Subscribe to our RSS feed here. Subscribe or rate us in iTunes. Ash I switched the Sygnia MSCI USA to their new Health Innovation fund. This is an active fund (with performance fees

Those of us slowly building a portfolio every month accept our investments will be determined by our overall strategy. This strategy would include our ultimate financial goal, plans around asset allocation, diversification, tax planning and future drawdown management. We understand we have to consider these variables throughout our portfolio, including our retirement products. New money coming in goes towards old strategies. It's boring, but effective. Those who just came into a large amount of money are subjected to a terror to which the rest of us are immune. Where is this money supposed to go? The bigger the amount of money, the more flimsy former investment strategies seem. Oddly, new investors with only tiny amounts of money to invest seem to experience a lot of the same anxieties. At the extremes these decisions feel very large indeed. The one difference between making a choice about your first investment and the biggest investment lies in tax planning. Your first challenge is to hang on to as much of that money as possible. From there we're sad to say it all comes down to your strategy. What do you want this money to achieve? Which products are most likely to get you there? Subscribe to our RSS feed here. Subscribe or rate us in iTunes. Jacques  I sold shares in a small private company.  I now have to decide what to do with it and to invest it wisely for the future. I am 50 years old and married with two 8 year old twin daughters (having waited for kids for 20 years!).  I have current income streams and do not have to use any of the capital to supplement income.  We are renting and own a plot hat has been paid for in full.  I need to decide to build a house now on the plot or invest the share money in a diversified portfolio for strong capital growth in the 15 years to come before retirement at say 65. I have an RA currently invested in a portfolio of shares.  I looked at Simon's portfolio. I like his allocation of shares to “Death do us Part”, Second Tier, ETF and Tax Free groupings.  I read about the “Ashburton Global 1200 ETF” (ASHGEQ) fund that Simon proposes and the low fees of Outvest.   I need to decide how to structure the capital as the current levels of some share prices may present a once in life-time opportunity for me to buy low PEs (e.g Firstrand, etc.). I am willing to move the RA from Sanlam Private Wealth to Outvest.  I need to get Tax Free Investment accounts for the kids, my wife (perhaps all 4 of us) and also invest more into my wife's RA (very small and also willing to move that to Outvest). I can afford to be aggressive and have no debts. I am however scared of my own emotions whilst trading so I want to follow a long-term passive strategy and not trade for the short term (speculate).  I have opened a brokerage account, but have not purchased any shares or instruments yet. Win of the week: Albert In podcast episode number 169, I had asked whether you would set up a Patreon. The rationale given for not having one seemed sensible at the time. Nonetheless, since August last year, following your sound advice regarding financial planning and cost management in general, I have saved quite a bit more than I would have otherwise.  For the most part, this means I do contribute more to my savings and investments, but I have also been growing a side savings account, for your benefit. Attached to this email is a Takealot Voucher, spend however you wish. I would recommend allocating it towards chuckles and bubbles, because I enjoy the somewhat more chaotic tipsy episodes, but you know it's a free world, I know there may well be more pressing matters at hand. I am glad to have an emergency fund, and am currently parking my Covid-19 shut in lifestyle savings into a Tyme bank account. I currently have just over 8 months' worth of expenses in cash, but perhaps it would be prudent to be in a similar situation to Simon, by having the maximum allowable tax-free amount on the balance sheet. Ordinarily I would like to carry on contributing to Tyme, but their savings limit per customer sits at R100 000, a number I will reach shortly if WFH continues. It seems that the ultra-competitive bank savings account offerings from last year have all but shriveled up. The most competitive 32-day account is African Bank's with a 5.85% per annum. This bothered me, as I know that the New Funds Traci ETF yields about 7.4%.  I would like to know what the cost implications would be for the ETF, as it would sit in my discretionary brokerage account. I know I would be paying Brokerage commission, the Investor Protection Levy and VAT on costs every time I increase my savings or cash out, but what are the tax implications? As this is a total return ETF, I would not get paid the interest into my account as this would be re-invested into the ETF. Presumably I would have to sit down and spreadsheet the actual interest earned for that tax year.  Should an emergency arise, and I need to sell some units, would I be required to pay SARS capital gains tax on the interest earned as well? Your 2019 article about it on J1L also pondered the same question, so I wondered whether you had already received a response from one of the magical tax elves. Old Mutual offers the ability to save in one of its money market unit trusts which also tracks the STeFI, it comes linked to a transactional bank account. It is a unit trust, so it has a higher TER, but if it eliminates capital gains tax, the other exchange costs and the added admin around tax year end by giving me an account statement for the unit trust, I would be willing to give up 0.1% of the yield difference between it and the Traci. I would like to travel overseas after I get jabbed with a Covid vaccine. I have put money aside in a separate goal save. I get quite queasy when looking at ZAR exchange rates and what they may do between now and when I wish to travel, so I looked into SA based dollar/euro denominated accounts. Their interest rates on these are about as exciting as a finding a fly in one's soup. Would it be better to save for travel expenditure in dollars/euros in a hedge against a rand drop, or is it better to save in rands and suck up the volatility for the next 12 - 18 months for this purpose? I'm thinking of splitting the difference 50/50. Marco So question on Market Value Adjusters: Are they bullshit? I suspect that they are. My wife is moving her RA from the big mean green machine to Sygnia. She received a notification that an MVA has been applied to her RA to transfer and that it will reduce the amount that she is expecting by 5%. Is this just a way to keep people from transferring, or another penalty that's added on top? I sort of understand what an MVA is: save from the good years to prop up the bad--but why add this extra "bonus" to a financial asset? To me it sounds like a turd wrapped in a sparkly bonus wrapper that just hides how bad active managers treat customers. Mark I have 20% of my Tax free investment and ETF portfolios dedicated to CSPROP and STXPRO, but every month when I buy these, I feel I might be throwing my money down the drain. Should I keep buying property ETFs as part of my TFIA and ETF portfolios or am I better to just hold what I have for a few years and not buy more every month? Should I drop my 20% allocation to 10% or less? Alexander  Having just opened a Tax Free account, I'm ready to jump in with my entire 36k.  I know Simon's advocated in the past for putting it all in at once, but has the current situation changed that approach at all? With my RA pretty much maxed out for last tax year, and this year looking to do the same, should I still be weighting my TF more to international markets? Or is it the case that since the rand is very weak against these markets that I'll be doing myself a disservice in buying now?  I am 25 so as an investment I plan to leave (probably till retirement) it may not be do or die, either way I would like to make an informed decision. Is perhaps this year the year to focus locally with my investment and then return to my international focus with my TFSA at a later stage? Uncertain of how to proceed during this shaky and tumultuous moment. What do you recommend one does with an emergency lump sum of around 250k? I was surprised to see my Depositor Plus account with Absa having lowered interest rates as of April 2020. I was wondering whether you can recommend a few accounts or platforms to look at during this time now that interest rates are fluctuating? How would one start investing in the UK/&/Europe if one has a bank account in the UK, but no national insurance number? I occasionally get paid into that account by European clients and was thinking of using that channel to invest offshore, paying any applicable tax through my local accounts. Let me know if you have service providers you would recommend for something like this as well please. Shailesh I listened to "Five concepts that will make you rich". Simon mentioned in passing if you committed to your R33k annually (at that time) one could have as much as R25 million in 25 year's time.  How is this possible? My understanding is that your earnings are calculated on the amount it was initially bought and hence it is not really compounded except for the dividends that will be reinvested.  Should one sell their ETFs and re-buy them annually to compound it? This is a question about how shares make money. We wrote an article about that here. 

JP Verster is the most eloquent market commentator I've ever encountered in the South African market space. A huge consumer of books and financial market information – he is a wealth of knowledge on more than just markets. He gained much airtime for being short in African Bank and riding the stock all the way to zero whilst at 36ONE Asset Management. JP now heads up Protea Capital management. He talks to me about his years in the market and his thoughts for the future. #Trading #TradingShorts #ProteaCapitalManagement

Today, we discuss the South African reserve bank and last week's announcement that it was looking to appoint a transaction advisor regarding the sale of its 50% shareholding in an African bank. The bank acquired its shareholding in 2016 as part of the restricting of African bank after it was placed in curatorship. Mergence investment managers Nolwandle Mthombeni speaks to Ron Derby. See omnystudio.com/listener for privacy information.

Our first ever paid episode of The Fat Wallet Show is courtesy of the Index and Structured Solutions team at Absa CIB. If you see one of them, show them some love.  In honour of this newfound wealth and the cool products that made them possible, we decided to dedicate this episode to financial risks that aren't market-related. In November we'll follow this up with market-related risks and explain how those freaky new ETFs hope to bypass market risk. We spend some time in this episode on the most sinister of all non-market risks - inflation. We're all subject to it, yet we so easily forget to account for it. We also cover the risk of losing your income, fraud, counter-party risk, tax, divorce, death, income disparity in households and over-insurance. We offer some ideas to help you prepare for these risks. Subscribe to our RSS feed here. Subscribe or rate us in iTunes. E&H My partner is in his early thirties and I am in my late twenties and we have some questions about offshore investing.  - we like investing passively in the stock market, ie index funds - we try to save aggressively and are inspired by the FIRE movement - we assume that the rand will likely continue to lose value in our lifetime - we plan to emigrate within the next 5-10 years, partly for lifestyle factors, and partly for the purposes of studying and gaining new skills. We might be keen to return to SA later on.  - we are hesitant to invest if the investment pays out in rands, and essentially want to start contributing to an offshore fund that we can access in the foreign denominated currency once we've emigrated.  what is the cheapest way to get money offshore? what are the currencies/offshore accounts that you could recommend? what is the best way to invest our money to achieve our goals? Jon-Luke I'd love to know what you guys think of this offering from Investec: Guaranteed 40% over 42 months - Effectively 11.43% P/A (not compounding?) - meaning if you invest R10,000 you will make R4,000 profit. If you were to put the R10000 into African Bank at 9.20% (Compounding) you would make R4 428,16 profit. So I guess the Investec offering has the possiblity of making quite a bit more - but how is this worked out exactly… And what are the chances of the S&P 500 going up by that much...  

Money is inextricably linked to every aspect of our lives. Every milestone and setback is either helped or hindered by our financial situation. When we plan for life events like weddings, babies, retirement or death, we also think about their financial impact. Most of us fall short in planning for things we don't like thinking about. When our nightmares become a reality, the last thing we want to worry about is money. This is normally what insurance is for. Sadly the insurance industry is a flakey ally. In this week's show, we discuss the financial impact of debilitating sickness. We talk about the preparations you should think about when you're healthy, as well as some options for people who are already dealing with this difficult reality. Louis Over the last couple of years I went from buying a new, heavily financed car every one or two years, to (almost) owning one car for four years and the other for 10+ years. I scaled down after parting ways with a major client. I decided to pay off all debt except my house. I saved the R8,000 I would have paid on my car each month and in 2.5 years had the money earning interest in my bond. I started investing in the stock market and also have a number of ETFs, including a CoreShares tax free account that actually gave me a good return over the last three years. We adopted at the ripe young age of 45, which changed my outlook on money. My wife was diagnosed with MS last year. Suddenly all the insurance policies and annuities became important as we had to become a single income family.   We took out a combined policy with life cover and LIVING LIFESTYLE COVER (with all the PLUSES, which Liberty say they gave us for free). According to what my current broker and I could deduct - upon diagnosis we should receive 25% of our insured value. This is not the case, though. Liberty has their own definition of MS and you should tick a number of boxes. Even though my wife had several problems relating to MS, we were not entitled to any payment. Not once did Liberty make contact with my wife's neurologist, doctor or anyone else. My wife had a relapse during the year. At first Liberty again refused any claim without making contact with anyone. Eventually they paid 25% according to their sliding scale. Now that my wife stopped working, I've had to employ a neurologist to advise me in order to decide on further action. In our situation we will survive on my income, taking into account retirement provision might be a problem. What do other people do when the sole breadwinner is in the same situation? Secondly I checked the annuity we have been paying for the last 15+ years and realised that the return was just over 6% for the period after cost. The obvious thing to do was to cancel, for which the charge is 5%. They say that after 15 years they have not recovered all their cost. There is a contribution charge of 4.5% and then they charge a management fee of almost 2% on top of that. I wrote to the pension fund adjudicator and after waiting almost seven months and requesting feedback a number of times, I received feedback basically saying they can charge up to 20%. I am moving the money in any case as I am sure we will be able to do better somewhere else. R14,000 on a R280,000 value. If you deduct the R14,000 my real growth over the period is probably very close to 0%. What is the best fund with a moderate to high risk to try and make up for lost years? We already have investments in Allan Gray Balanced and similar funds. Subscribe to our RSS feed here. Subscribe or rate us in iTunes. Gareth The problem with dread disease cover is the companies' definitions of their sicknesses. I unfortunately had the same claim disappointment when my wife was diagnosed with Crohn's disease, I then only found out that they pay out 25% of the dread disease assured amount. The same goes for MS and most autoimmune diseases. We pay discovery R12,000 pm on the top Medical aid so they can pay R30,000pm for her medicine. Liberty should've asked for medical reports etc from the doctor as part of the claim process. I always say that dread disease is a nice to have, same as capital disability, but the most important benefit to have is income protection. The income protection doesn't look at your illness but more at your ability to do your specified occupation. It is more expensive but will pay out in a lot more cases. Win of the week: Riani, who is 13, and her sister Juané, who is 7. Their mom tells me they already know what the ALSI is. Brendon I'm able to invest R15,000 a month. Should I go down the ETF or individual share route? Do I incorporate property ETFs too? Should I open an EasyEquities account or with another company? Steve I'm still left wondering what to buy, especially for my TFSA. There just doesn't seem to be any right or wrong answer? All things considered, what would be your preferences if you wanted exposure to the following: US Markets? World Market - Developed? World Market - Developed & Emerging? South Africa? My understanding is that the US leads the world economy so what are the chances of their markets slowing down while the rest of the world starts ticking? If that's unlikely, surely one could just as well stick with the US? Donal I did a spreadsheet to work out the tax for the two scenarios and I then backtracked and worked out the present value. There's not a huge difference. The tax man would get almost the same amount of tax from me eventually even if I leave the pension alone! I've listened to you guys saying many times we should clear our debt as fast as possible. I currently have a large car loan at prime + 0.9%. I change my car approx every 2.5 years. In that time I'll generally only have paid off half the loan. My trade-in value usually just covers the outstanding amount and then I need to get a new loan for the full value of the next car and the cycle starts all over again. I commute to work and drive approx 1,000km per week. So after 2.5 years I've clocked up around 120,000km. That's around the time that things start to go pear-shaped with a car. I could pay extra into the loan and reduce the capital quicker. Let's say, for example, instead of paying into my TFSA I put R2750 per month into my car loan. So, like I do, I've run a spreadsheet and I've found that after 18 months (which is when I will change again) my capital balance will be R60k less than if I didn't pay in the extra. So the loan on my next car will be R60k better off. This sounds great, but the problem then is that my TFSA capital doesn't grow! And if I continue to do this every time I buy a car I'll then my TFSA will always suffer. Eventually I'll be in the situation where my initial loan amount will be small enough that I'll be able to pay off my car loan before I have to change my car again. In that period I can catch up on savings for a few months. But I reckon it's going to take about five more car changes to get to that stage! By then I would almost have my TFSA maxed to R500k and I should be sitting back with my feet up watching it grow and grow! The thought of not investing in my TFSA for the next 10 years is extremely painful and seems to be counter-intuitive. But should I just suck it up and rather focus on clearing my car loan every month? Sabata You guys were slagging retirement annuities as if they are lepers!  Any unused contributions to an RA can be carried forward, which you mentioned somewhat unconvincingly.   This is not a 'small benefit', as you stated.  These unclaimed contributions can be carried forward all the way to retirement.  By then you probably won't be investing for retirement. You can use these to increase your tax-free lump sum you're allowed to withdraw, or to reduce the tax payable during retirement. Say you retire with R 50,000 per month. Tax payable would be R 12,582.25 per month.  Let's say you have enough unclaimed contributions banked. You could then claim your 27.5% of taxable income as an RA contribution. This would reduce your taxable income to R 36,250 even though you will no longer be making these contributions.  Your tax would be R 7,521.25, a saving of R 5,061 per month! That's worth a lot of bubbles, especially if you drink Four Cousins! About your diplomat who is based in Botswana, is she exempt from RSA tax because she is out of the country for more than 183 days, or is it because of her occupation?  I think it's the former. Rieneke I have a slightly different take on the issue. Use life cover as life cover when you need it, but change the purpose to inheritance when you no longer need it. You often take out life cover with a young family as you have to provide for them should something happen to you. As the kids then leave home or you no longer have dependants, the life cover is cancelled. Especially older folks who might no longer be able to afford the cover. In that case, offer it to your children as an investment. You have low premiums, having started young. Taking it out with the purpose of inheritance when you're older is too expensive and taking it out with this purpose when you're young is also expensive due to time and as your fortunes change, might also not be able to sustain it, in which case it was wasted. Ros I'm keen to move my emergency fund from a Money Market account to TymeBank. This seems like a no-brainer - If I understand their Ts & Cs correctly, once your money had been in a GoalSave account for 90 days, you get 10% interest for a 10-day notice period, up to a maximum of R100 000. I mentioned this to my Mom and she was very concerned that the bank could go under, a-la African Bank or VBS. What are your thoughts on this? Stealthy Wealth's FIRE-people are organising get-togethers in Durban, Cape Town and Port Elizabeth. Find out more here.

The world has gone mad with talk of a bear market. As someone whose experience of a bull market has to do with how much bullshit it is that the market makes money, facing a bear market seems especially unfair. In this episode we discuss what a bear market is, what it would look like in my portfolio and what I can possibly do about it. Win of the week is Kay, for being a Fat Wallet Community superstar and for taking charge big time. I'm stuck on tax. I don't understand it, I'm terrified of it. I'm a freelance artist in the film industry. I'm supposed to pay provisionally. I've never managed to save for my tax contribution, but I am earning more each year and I'm trying to keep money aside for tax. I'm mentally budgeting the amount to be about 25% of everything I earn (which seems an enormous amount to catch up to at this stage, but not impossible). 25% also might be too much or too little consideration depending on the earning category I fall into that year. I heard Kris say that she puts 12% aside for provisional tax - how does that work? Why is there a tax category for 0-195 850 but I apparently don't pay anything if I earn under 350k? How the flip? I don't mind saving too much since whatever I don't pay in tax will go to topping up other savings goals anyway, but I'd rather just know the workable percentage so it's not a big black hole of devil-math in my budget. Can I actually reduce my tax liability by contributing to my TFSA? As in, does making that money tax-free potentially put me in a different income tax bracket, like contributing to an RA would? Also Jonathan for sharing a great hack for emergency funds. I've been a bit insecure with my investment strategy in my relatively short investment journey but the show has reassured me that I'm heading in the right direction. You can't imagine how encouraging that has been to me.  But I've also have much to learn, so I'm definitely gonna be listening on! In episode 122 you discussed the balance between paying down debt and starting an emergency fund.   A potential first step is to build up a mini emergency fund, perhaps R5,000 to R10,000 before contributing more than the minimum towards the debt That gives you a buffer to cover small emergencies while you're paying down the debt. At some point you will have to grow the emergency fund to 3-6 months of living expenses as you rightly advocate, but it may be helpful to have a small emergency fund before you start to attack the debt. I'd like to hear your views on that. Alec has saved up a nice nest egg and is getting ready to make a move from Durban to Jozi. He wants to know what he should be doing about his ETFs. I've managed to accumulate just over R1m in investment savings through various actively-managed funds like Coronation and Sygnia in approximately 10 years. I recently started investing in a passive strategy through ABSA stockbrokers, before they changed their platform fees. NFENOM PTXTEN CSEW40 ASHGEQ ASHT40 I also have a tax-free savings with Satrix, and an RA with Liberty (which I am in the process of moving to a more cost effective fund). Should I continue investing some of my money in my actively managed funds? Should I wait to see what the market returns are, or should I just continuously buy? For e.g. should I buy 100K of NFENOM ETFs and wait to see the returns before I continue investing in that fund, or should I trust the market value will be higher at a much later date? Are there any other investment strategies I should be spending my money on (rental property, gold coins, or starting a side business)? Subscribe to our RSS feed here. Subscribe or rate us in iTunes. Fried and his partner have R3m debt between them, including a buy-to-let property and some cars. How do I go about moving my Sanlam stuff away from them? I'm considering moving our RAs and my wife's TFSA to EasyEquities to manage it myself (only platform I care to know). Life insurance and income protector - I'm thinking of leaving it at Sanlam just because I don't know if I can move it? And if I do, are they going to take my blood again? I'm selling my "investment" house. Not sure if I should use the money to pay off my wife's car (interest rate of 11.15%) or use all to buy ETFs. The car's settlement amount is around 50% the pre-CGT money I'll get for the house. Trishen's family is growing too big for their home. I have a two bed, two bath apartment in Sandton. As my family expands I'm looking to get something bigger. I am unsure whether to rent out my current place and potentially have an additional income in the future or sell it use the money as a deposit, lower my bond repayment then use the extra cash every month to invest in ETF REITS /shares. Johannes is getting a gift. I recently turned 21 and received R10,000 from my dad. I want to use this money to help cover my overseas trip (December 2019). I'll be needing this money to buy a ticket/accommodation. I'll probably buy my ticket in the second half of 2019. Where is a good place to "save" this money? I don't want it hanging in my bank account as I know I'll use some of it. I also don't really want to invest in shares, as the volatility might cause a surprisingly loss in my capital at the time the money is needed. (8 months from now). I have seen some serious losses in my investment account this past year, including my South African ETFs. So I am a bit afraid of that. I'm considering putting it in an fixed deposit account at African Bank, seeing that they have great rates OR the ABSA NewFunds TRACI three-month ETF. What are your opinions and suggestions? Marc is worried that the CoreShares Dividend Aristocrat ETF's returns are very unpredictable. The goal of the ETF is to provide a relatively stable income that should rise with inflation as the underlying companies earnings grow. If you had to buy this in your TFSA, how would the dividends of the international companies be taxed? Rui's mom retired. Her adviser put her savings into unit trusts instead of a pension fund or RA. She has quite a bit of money due to the sale of her house, as well as a TFSA, which is only a small portion of her savings. Moving any of the funds will incur capital gains, which is tricky - she may save on fees, but it will hurt in the short-term. How does one proceed from here? Leave it as is, and just liquidate the funds as one needs to in order to live? Sell, move them all to EasyEquities, do something intelligent with them there? I'm beginning to think the only strategy that makes sense is to have a large cash buffer that you replenish via the income from the investments (whether it be dividend, selling some of the funds, or a combination of both.)  

Subscribe to our RSS feed here. Subscribe or rate us in iTunes. I'm finally doing it. I'm buying a house. I've had a cold winter and I'm finally accepting I didn't turn out to be a jetsetter who lives in luxury hotels around the world. Clearly, this isn't a financial decision, but it doesn't mean I can't be smart about what I'm doing. Here's what I have so far: I'm looking in the price range of what I'm currently paying in rent in an (almost certainly futile) attempt to contain my cost of living. This is yet another reminder of the benefits of renting. In buying, I'm banishing myself to the outskirts of the areas I love. Everything in my range is tiny, most of it very old. I knew it all along, but it's good to be reminded. It's very hard to compare units. Even in the same price range, they differ by age, by size, by area. I've decided to use cost per square metre to help me figure out if something is cheap or expensive. This makes it much easier to determine value. I'm only using half the bond amount I actually qualify for so I don't find myself strapped for cash when there's a special levy or interest rate hike. I'm terrified. While I'm perfectly capable of multi-year commitments, I don't like to be reminded of it upfront. I guess I'll just have to get over it. This is the Mister Money Moustache article I mentioned. Win of the week: Sean, for editing our swearing and for making us a spreadsheet. He, like many other people, disagrees with Simon's view on tax-free investments for kids. TFSA numbers_Spreadsheet I understand kids might use the money to buy a car or holiday and can never get that allocation back. The other side of that coin is that a TFSA started at birth creates generational wealth. You can set up your kids to never have to worry about retirement regardless of their job. Or ideally pay it forward to their kids (ie only save R500k per kid) for them to retire young (best case 38!!). Isn't it better to try your absolute best to educate them on the value of TFSAs and retirement? You have a whole 18 years to get it done before they can take control of their TFSA (dead means longer than 65). I know TFSAs are not and should not be viewed as vehicles for things like education etc. But as a “pay it forward” vehicle its pretty magic (assuming you can educate your kids). Francois is wondering about the impact of dividends on tax in offshore total return ETFs. I've been comparing the two MSCI feeder ETFs from Satrix and Sygnia. The Satrix one reinvests the dividends, and the Sygnia one pays them out. They are both about a year old. Instead of paying out the dividends, the Satrix ETF will simply raise the ETF price by the dividend amount. I can only see this if I overlay the STXWDM and SYGWD charts, squint, and use plenty of imagination. A year is a very short timeframe to see a difference, so I've searched for SENS announcements for details on if and when this has happened. Will there be any info on this? The Sygnia one has paid out dividends twice since inception. According to the June SENS, you were exempt from local dividend tax both inside and outside a TFSA. This is because the foreign tax amount, which you always pay even in a TFSA, was larger than the local amount. It seems unlikely that Satrix will have a different price inside a TFSA, even if they had to account for local tax after raising the price a hundred times. Can the situation change if our dividend tax went up to say 25% and start exceeding the foreign amount? Ignoring the difference in TER, it would then be better to hold the Sygnia ETF in a TFSA, wouldn't it? Gerhard has a great tax tip. Many people don't submit their monthly RA contribution amount to their HR / finance department at their place of work. When I ask why, they say that they enjoy the bonus they get from SARS when they submit their tax return. The benefits I see for supplying this info to your employer:  - You get the tax break upfront  - You don't save your money at SARS over an average period of 8.5 months not earning any interest.  - You can increase your monthly RA contribution without affecting your pocket, for example: You can only afford R1000 pm for an RA, if you submit this amount to your employer and you are taxed at 25% then you would get an increase in your net pay of R250. Now you can actually pay R1250 instead of R1000 into your RA or R250 into an ETF.  - If you have a dispute with SARS or they delay the refund, as sometimes happens, you already received your tax rebate throughout the year. I see no reason why an employer can refuse this if you have the proof of your contribution. Robert found a sustainable farming investment website, which is kind of like the cows website we discussed last week. They sort out the insurance and the administration on your behalf and claim to offer an internal rate of return 12% and 16%, depending on the investment you choose. They also mention on their website that there is a tax benefit and that you can write off a portion of your asset in the first tax year. Sounds a bit like you need to be a tax guru if you ask me. It will be great to get your thought on this. It feels like a new hipster and responsible way to invest, but is it wise? It might be a unique way to diversify? The one option is berries, the other is solar energy, the other is beehives. Vincent is curious about counterparty risk at African Bank. I compared Capitec, RSA retail bonds and African Bank. I am fully aware of what African Bank went through, but having a look at their investment options I think it's viable given that the SARB has a grip on them. They have no management or administration costs and no fees on withdrawal. Everything can be done online or via phone. Their tax-free interest is quite high and they have two other attractive products: [Access Accumulator - 12 months [8.2%] & Fixed deposits - 12 months [8.45%]. I seek to keep the Access Accumulator and Fixed deposits short term; but I'm not sure of investing a third of my maximum Tax-free contribution to African Bank, because where will they be in 20 years time when I want to withdraw my TFSA portion? I don't recommend that you use your tax-free savings account for cash investments. Edwin has a great question about the last big purchase we can make before we retire. At some point before retirement we probably have to buy our last big-ticket items e.g retirement home, retirement car. If I want to spend my retirement exploring the bush in a 4x4, I must purchase my last 4x4 with my savings before I retire. If it's a good car it will be affordable to maintain and reliable so I would be looking for that car to stay on the road for the next 10 to 15 years as a minimum. Hopefully it lasts forever. The problem is that if I buy a cheapie it may not last all that long and break down...or I could discover that I really don't like it and would have preferred to buy a more expensive car when I had the money. By then it is too late to change my mind. I would already be a pensioner. Are we better off stretching ourselves when younger to buy something slightly better, but that will serve us better in the long run? I want to drive a Range Rover in retirement, should I sacrifice the savings while still earning an income? Should we be making provision for our last “big ticket items” before retirement. Or is this a trap? Mbasa wants to know why we're limited to R33,000 tax-free contributions per year. Why can't we max out the full R500,000 allowance at the outset.

Access to a great share at a discount is something to take very seriously. Khuliso's question about Phutuma Nathi got me thinking about BBBEE shares for the first time. I've never really thought about it, because I don't qualify. However, the majority of you do qualify. How do you make a decision about whether a BBBEE share is a better investment than the ETF you would have bought anyway? I found this conversation especially fascinating. I'm keen to hear how you incorporated BBBEE shares into your portfolio, or, if you decided against it, why that is. Win of the week: Michael, who officially moved his TFSA from Old Mutual. I can officially say that the transfer of TFSA money works. Haven't heard anything official from Old Mutual, but the other side of the fence seems convinced the money has arrived. Khuliso wants to invest in the Multichoice BBBEE shares, Phutuma Nathi. I intend on purchasing some shares when I rebalance my portfolio in the third quarter. My motivation for buy is good dividend yield. Would you recommend or be against such a plan? How are they different from ordinary shares? What benefits do they offer that ordinary shares don't offer? How should you think about them in your overall share portfolio? Frederick has a few hundred thousand left over after selling his house, paying his debt and stashing money for his emergency fund. He's not sure what to do. He wants to put it in a flexi-fix deposit account with Standard Bank, and get a fixed interest rate of 8,8% per annum back. Money is guaranteed and growth is also guaranteed. It's always important to remember that these decisions don't have a one-size-fits-all answer. The best course of action depends on: Your investment horizon. What you want the money to do. If you know how long you have and you need to know exactly how much you'll have at the end of the period, then a fixed deposit is a way to go. If you would just like to grow it as much as possible for as long as possible, maybe an ETF is a better option. If you don't have anything saved for retirement, maybe you put it into an RA. Nitesh and his wife earn a good income, but they have three kids in private schools. He wants to know what the best way is to create wealth in his situation. John is 70. He has a fixed return investment that's about to pay out. African Bank is offering fixed term accounts with 10.5% and 12.95% interest. He wants to know if he should be concerned about counterparty risk. Jaco asked for some clarity on the spending ratio. To get your spending ratio, you divide the money you put towards paying off debt or savings by your after-tax income for the month. I know it is technical, but isn't this a savings rate rather that a spending rate? If I put R15 towards savings on every R100 I am earning, I am not spending 15% but rather saving 15%? The spending ratio will be my total monthly/yearly spent against my income. - You're right on this one! From Manage Your Money Like a F*cking Grownup "Take your expenses for last month. That's all the money you spent (not money you saved or used for repaying debt). Divide that by the amount you earned that month. Multiply it by 100. This number is your spending ratio. This number is the proportion of your income you're giving away to other people and businesses. It represents the percentage of your time that you spend working for clothing companies or for your landlord, or for your bank, and not for yourself." Soobrie is moving their TFSA to Easy Equities. I have three years' of allocation in the tax free savings account with the Nedgroup Core Diversified fund. I'm planning on moving it into EasyEquities. Which portfolio should I choose as I can leave the money invested for another five years? They also have 13 ETFs with etfSA and want to know if they should consolidate. ETF: Should I consolidate my ETF portfolio? Ben has four ETFs in his tax-free account and wants to know if he should add one for dividends. Dividends are taxed at 20%, while you'll never pay more than 18% CGT even in the highest income bracket. For that reason dividends are awesome in a tax-free space. The real issue is, what product do you buy?

Simon Shares EOH (JSE code: EOH), so the collapse was because of directors margin calls that forced them to sell? This is an epic disaster, if it was my board I would fire them. A share price collapse has real consequences, especially for a company like EOH that uses their shares for acquisitions. Steinhoff (JSE code: SNH) mess continues but an interesting meme occurring in an attempt to make sure the asset managers take no blame. The same happened after African Bank, Enron and other notable corporate collapses. I not saying we should be jailing the asset managers but we should be asking hard questions and having the debate. I am seeing more and more analysis on the fact that SNH was not quality, sure it is in some (but not all) cases after the fact but enough people are speaking out. Yet this low quality stock was valued at around R300billion at its peak and suggesting that it was impossible to tell is an outright lie as proved by many people being short and querying the numbers. Surely as an industry it is important to understand how this happened? Now some managers hunt out low quality as an investment theme, but they are the minority. Pretty much every asset manager will say they buy quality at a good price - but then I ask again, how did this low quality stock end up worth over R300billion? As an industry we are the custodian of peoples retirements, savings and ultimately their dreams - we need to take this seriously and surely, at a minimum, the honest response when we get it spectacularly wrong is to reflect how we get it wrong? Instead I see all sorts of head in sand or finger pointing? Why? Too busy keeping the fees and buying luxury German sedans and Cape Town holiday homes? Likely this is the final JSE Direct for 2017. I have many more ideas but need to take a break. We'll be back with our predictions show in January with Marc Ashton and Keith Mclachlan and as always we'll start by scoring our 2017 predictions (find our 2017 predictions here) Position your portfolio for 2018 is online (video, audio and PDF). Asymmetry of investing The asymmetrical nature of investing is a huge boom to investors. A share we own can go to zero with a 100% loss, but the flip side is that it can up go up multiples of 100%. So even the occasional loser doesn't derail a diverse quality investment portfolio. The two key points, diverse and quality. If you have only one stock you're at massive risk and if you have a basket of dogs then you're still in serious trouble. But a collection of quality stocks can survive the occasional blow out as they others run and we only needs a few real winners to make it all work and market beating. Now in an ideal world we'll never see a 100% blow out because when it's time to panic we'll panic quick, right? A last word on the asymmetry of trading (as apposed to investing). We have no real floor on loses as we also have no real floor on gains. So it is not asymmetrical and so we have to make it so by being ruthless with stop losses. I have long said my trading success is due to my always taking the stop immediately no questions asked. JSE – The JSE is a registered trademark of the JSE Limited. JSEDirect is an independent broadcast and is not endorsed or affiliated with, nor has it been authorised, or otherwise approved by JSE Limited. The views expressed in this programme are solely those of the presenter, and do not necessarily reflect the views of JSE Limited.

Market Analyst, Maudi Lentsoane of Lehumo Investments looks at Asian Markets as trading remains positive, led by Australia's ASX200, Teressa May apologies to her own law makers after disappointing UK results and MMI and African Bank team up to build a financial supermarket

Simon Shares Our banks are now being downgraded by S&P and Fitch, this is to be expected. Tongaat*, I have been buying and now have full allocation. Still my preferred second tier portfolio pick. Taste selling jewelry and doubling down on international food brands with another rights issue coming. Japan, worth investing in? Upcoming events JSE Power Hour: Listed property instead or buy-to-let * I hold ungeared positions. Capitec* - should we worry? Lots of concern abut rising bad debts and how this will impact Capitec. They identify three risks; market, credit & business. Rescheduling is a risk that concerns many but Capitec defends it in being better business and they have over 200% provisions on arrears and they are well ahead of Basel 3 2019 requirements. Further when they reschedule a loan they increase provisions against non payment. They have been declining more loans and have been tightening credit granting criteria since April 2015 and now 92% of the value of a loan is provided for when three instalments are missed. In short they are obsessive about managing risk. That said tougher economic conditions, credit card and longer term loans do add to risk and they will likely see bad debts increasing. But they are not going to do an African Bank. Longer term they're earning more from non interest but this will take a long time to become significant against loan profits. The annual report is due later this month and will be online here. I had an aggressive R720 buy price, but that was before shuffles and downgrades and with growth likely to be hit post all the noise R620 is my safer buy price. We Get Mail Mkululi The question is in February the end/beginning of government year. The money I contributed which was pulled on the night of 28Feb2017, which financial year does it belong to? last year/this year. Jonathon I just watched the "lazy trading system explained" video and I had one question. In the risk management section you, Simon, talk about initial and secondary entry points to invest your 25% in 12.5% blocks however I was unclear as what qualifies as a secondary entry. Is the secondary entry point the next time both the primary and secondary triggers occur following the first investment? Alexander I am giving my nephew an investment account with a lump sum of R1000 for his 16th. I am leaning towards an ETF. Could you possibly suggest one that would be a good long term investment? JSE – The JSE is a registered trademark of the JSE Limited. JSEDirect is an independent broadcast and is not endorsed or affiliated with, nor has it been authorised, or otherwise approved by JSE Limited. The views expressed in this programme are solely those of the presenter, and do not necessarily reflect the views of JSE Limited.

Russian firm pulls out of Uganda's $4 billion oil refinery, FG To Borrow N395bn Via Bonds, Barclays Africa appoints Peter Matlare as its deputy CEO, Power: FG Eyes Offshore, Inland Basin Gas Reserves, African Bank offers to buy back $500m of bonds, Vodacom CFO to replace Safaricom's finance chief, Taxi-hailing app Taxify sets up operations in Nairobi, New Code Will Separate Roles Of Chairman And CEO – NCC --- Send in a voice message: https://anchor.fm/africabusinessnews/message Support this podcast: https://anchor.fm/africabusinessnews/support

Hating on unit trusts Simon Shares SPIVA results for South Africa are out and they track how many active managers fail to beat the index. Truth is that even over 1 year most do NOT beat the index. In short, buy passive or lose money? The PDF of the report is here. Standard & Poors has downgraded SA's expected GDP for 2016 from 1.6% to 0.8% further cementing the likelihood of a downgrade to junk from the rating agency. African Bank has relaunched, but this is not the one you have shares in. The suspended ABIL sold off good assets and is left with a giant pile of debt and those left holding ABIL when it was suspended in August 2014 hold worthless shares. The Satrix Resi (JSE code: STXRES) is our focus ETF this week. We published our bubble graphic of Top40 individual stock returns for Q1 2016. Helena Conradie CEO Satrix Satrix is best known for their Exchange Traded Funds (ETFs) but have in recent years also moved into index tracking unit trusts. The question is why and if unit trusts are still the evil rip off they were back in the day? It is still a case of watch the fees and know what's inside? We Get Mail clintvanhere via Twitter If you withdraw from TFSA, what are the effects on your annual & lifetime limits? Ryno Can I trade your lazy system in a tax free savings account ? http://justonelap.com/lazy-trading-system/ Fathima After attending your seminar for beginners, I invested in ETFs. However yesterday, I watched your video explaining the benefits of TFSA and I need to know if I made a mistake opening an non TFSA account? Should I close that account and open a TFSA, or keep both? I don't want to incur extra costs. JSE – The JSE is a registered trademark of the JSE Limited. JSEDirect is an independent broadcast and is not endorsed or affiliated with, nor has it been authorised, or otherwise approved by JSE Limited. The views expressed in this programme are solely those of the presenter, and do not necessarily reflect the views of JSE Limited.

1. U.S. jobs numbers 2. African Bank launching today 3. European corporate profits

1. AngloPlatinum and Sibyane Gold announced the deal around the Rustenburg mine as expected - what can you tell us about some of the details? 2. Ratings agencies have been in the news again this week, first with Fitch announcing its withdrawal from the South African market, and then both Moody's and S&P lowering their forecasts for growth in Asian economies. What has the reaction in the market been on this news? 3. The long awaited announcement about the re-launch of African Bank, or at least its "good bank", was finally made yesterday. What were some of the key points?

Nog een van die groot graderingsagentskappe, Standard and Poor, het bekendgemaak dat hy nie die voorbeeld gaan volg van Moody's deur die land se vier groot banke se kredietgradering afwaarts aan te pas nie. S&P sê hy is tevrede met die manier waarop die Reserwebank die situasie bestuur na die terugslag wat African Bank getref het. Vroeër die week het Moody's almal onkant betrap met sy besluit, glo oor die Reserwebank nie onderneem het om al African Bank se krediteure te beskerm nie. Cobus Bester praat hieroor met 'n beleggingsontleder by Sanlam Private Belegging.