Focus on alternative savings during July Savings Month

The 2017 SASI (South African Savings Institute) July Savings Month was launched today in Sandton by Orlano Makubela, Chief Director of Financial Investments and Savings at National Treasury, and Sazini Mojapelo, Group Head of Citizenship at Barclays Africa, with a focus on encouraging alternative savings solutions. A panel of industry experts discussed developing alternative mechanisms to help South African consumers, … Continued

SASI July Savings Month 2017 Launch

The South African Savings Institute (SASI) will launch its traditional Savings Month Campaign at a breakfast event in Sandton on Wednesday 28 June 2017 where the Minister of Finance, Malusi Gigaba, will deliver the keynote address.   “Savings Month is SASI’s national savings awareness campaign, and the theme for this year’s drive, which runs during July, is “Alternative Savings Solutions,” … Continued

TENTH LAUNCH OF STARSAVER™ THEMED “DEEPENING FINANCIAL DEMOCRACY”

June is Youth Month and The Banking Association South Africa (BASA) with its 23 Member Banks and 43 Financial Institutions collaborating on StarSaver™ will celebrate the 10TH Annual launch of StarSaver™ in a form of a dialogue themed “Deepening Financial Democracy”.   StarSaver™ is a generic financial literacy programme to inculcate a culture of saving in young people and promote … Continued

6 Challenges to Financial Inclusion in South Africa

World Economic Forum | 5 days ago South Africa is a country of well-known promise and peril. Despite being the largest economy on the African continent, the nation is plagued by high levels of unemployment, a poor education system and staggering income inequality. Underscoring the country’s struggle to translate its rich natural resources and other assets into social benefit, South Africa is … Continued

SASI Launches 2016 Festive Season Campaign Message

Media Release   SASI reminds South Africa to recall their needs versus their wants   The South African Savings Institute (SASI) launches its annual Festive Season Savings Campaign in a year where the country is at major economic and political crossroads.  The continued #FEESMUSTFALL campaign, the country’s fragile economy, high levels of consumer debt and rising unemployment make 2016 a … Continued

National Savings Month kicks off on positive note

PERSONAL FINANCE / 02 Jul ’16, 07:30am Patricia Holburn National Savings Month began this week with the acknowledgement that as South Africans we are saving, but not enough and not necessarily in the right places. Our savings efforts are being hampered by a lack of financial literacy, consumerism and unemployment. Despite these challenges, millions of us do save through our pension … Continued

Interest rate hike great for savers, worst nightmare for debtors

South African Reserve Bank (Sarb) governor Lesetja Kganyago said on Thursday the bank would increase the repo rate by 50 basis points. This means the repo rate, which is the rate at which the Sarb lends money to banks, will rise to 6.75%. The prime lending rate, the figure charged by banks to customers, will increase to 10.25%. The announcement … Continued

Beware of Pyramid Schemes

Author: Gerald Mwandiambira, acting CEO of the South African Savings Institute Investment Scams: What they are, and how to spot them In recent times, there has been an increase in fraudulent investment companies known as Pyramid Schemes or Ponzi Schemes. These schemes have fleeced many unsuspecting investors of thousands of rands and continue to pop up across South Africa. It … Continued

Old Mutual Savings & Investment Monitor highlights the need to save for Emergency Funds

More than half of working South Africans, if faced with an unexpected expense of R10‚000, will be forced to take out a personal loan‚ rely on credit facilities or borrow from family or friends, while 30% have no idea at all how they would handle such an expense. This is one of the sobering findings of the 2015 Old Mutual … Continued

Savings Month 2017

July is National Savings Month As South Africans do not generally have a savings pools to tap into in times of emergency, they tend to cash in their retirement savings.  We believe, it’s for this reason National Treasury has introduced Tax Free Savings Accounts from 1st March 2015 to build household savings and encouraging investment. South African Savings Institute (SASI) … Continued

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