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GENRIC Insurance Company has launched SafeHomes, a homeowners insurance solution backed by technology that is singularly focused on enabling brokers to meet the evolving demands of their clients in a world increasingly reliant on the internet of things (IoT).   GENRIC’s SafeHomes insurance solution is underpinned by a tech platform that makes onboarding of new…
Fintech start-up reimagines the ultimate grudge purchase to deliver tangible financial returns for insured consumers  For most consumers, motor and household insurance is the ultimate grudge purchase.  It’s that one thing that you must have because things can and do go wrong unexpectedly – and when they do, the financial…
Nine out of every 10 insured consumers claim less than they will ever pay in short-term insurance premiums.  It means that up to 90% of the insured pool (and non-claimants) subsidise 10% of multi-claimants. Non-claimants do not receive any return on investment since their hard-earned cash goes to subsidise multi-claimants…
Alicia Goosen has been appointed Chief Broking Officer of Aon South Africa, effective 1 December 2019.     Alicia’s appointment as Aon’s Chief Broking Officer follows years of outstanding performance underscored by Alicia’s thorough understanding of the insurance sector and carrier market. Prior to her promotion to the role of Chief Broking…
Fintech start-up reimagines the ultimate grudge purchase to deliver tangible financial returns for insured consumers For most consumers, motor and household insurance is the ultimate grudge purchase.  It’s that one thing that you must have because things can and do go wrong unexpectedly – and when they do, the financial…
Tuesday, 26 November 2019 09:38

Update on unforeseen preference share amendments

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By Brian Dennehy, Graham Viljoen, Craig Miller, Joon Chong and Khurshid Fazel at Webber Wentzel The 2019 Taxation Laws Amendment Bill (TLAB) contains a significant and unexpected amendment to the definition of "hybrid equity instrument" in section 8E of the Income Tax Act, which was discussed in a previous e-alert. The TLAB will…
As it stands at the moment, Africa is lagging behind the rest of the world when it comes to the adoption of Bitcoin and other cryptocurrencies. View Bitcoin Price to South African Rand https://www.sashares.co.za/bitcoin-to-rand/ Africa’s interest in the currency is not translating into real-life use, and there are a variety of…
Although it’s currently legal to possess and cultivate cannabis for personal use, the cannabis industry is still wrestling with something of an image problem. People are often unsure which businesses are legally compliant, and also afraid of what they don’t know, so it’s proving difficult to assess the size of…
Saturday, 23 November 2019 19:14

Curious about the profitability of your competitors?

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As an entrepreneur, there is an inherent curiosity about the financial performance of industry peers. Is your sector expanding or contracting? Are your peers seeing growth? Short of interrogating financial data of listed businesses, there are limited tools available to entrepreneurs to access this data in an affordable manner. This…
Saturday, 23 November 2019 19:06

No financials, no finance

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South African entrepreneurs looking to access finance to grow their business, won’t make much progress if their financials are not in order. This is the advice shared by Ken Brown, the Master Franchisor at SME.Tax  - one of South Africa’s most innovative accounting franchise groups.   “We see it all…
Keeping abreast of technology changes affecting the banking landscape is tough. From AI and machine learning to mobile, fintechs, digital, data, cloud and many more, new developments are happening all the time.One option in making things a little bit easier to understand is to attend TCI’s upcoming BankTech Southern Africa…
Thursday, 21 November 2019 12:45

Bidders are incorrectly disqualified on Local Content

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The revised Preferential Procurement Policy Framework Act Regulations (PPPFA) of 2017 clearly stipulates that the Department of Trade & Industry (DTI) has the regulatory mandate to designate ‘industries, sectors and sub-sectors for local production at a specified level of local content”.  The Regulations further instruct that “only locally produced goods,…

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