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July 1998
Bitter pill for medical schemes to swallow

When the then Minister of Health Dr Rina Venter finally got the Medical Schemes Amendment Bill 1993 through parliament there was a heavy sigh of relief from the private sector. During the previous decade the healthcare industry had become...

July 1998
To sell or not to sell...

A warrant is a long dated option usually written by a bank that gives the buyer the right to buy from or sell to the writer a specific quantity of a listed share. Such a transaction must take place before or on a specific date. The price thereof...

July 1998
Government’s macroeconomic strategy must work

Total abolition
The total abolition of exchange control will have wide-ranging implications for the country’s balance of payments, prudential requirements for and supervisory control of financial institutions, financial markets, and foreign...

July 1998
Staff vote

Employees stand to benefit from the new rules to be adopted by their pension funds by the end of this year. Specifically, every pension fund must have a Board of Trustees in place by 15th December, at least half of which must be elected by the...

July 1998
Video games

With inflation hovering around 5% per annum, according to official figures from the Central Statistical Service, it makes a lot of sense to stop buying goods on credit. This is not just because the loan rates are so high. ABSA’s recent move to...

July 1998
Reserve Bank hitch

Short term insurance companies don’t see why they can’t invest some of their assets overseas. If other members of the financial services community can, then why can’t they?
In recent discussions with the Financial Services Board (FSB), the...

July 1998
New and old

Sanlam has announced a new structure for the group in addition to the combining of Sanlam Asset Management with Gensec. Senior appointments were also announced.
“This restructuring marks another important milestone in the implementation of...

July 1998
Synergy search

Fedsure has acquired the 28% stake in Norwich Holdings previously held by Orion Selections for R1,05 billion in cash. This purchase, together with Fedsure’s existing 32% shareholding, increases its total stake in Norwich to 60%, giving it control...

July 1998
Time to reconsider

Sanlam Group Benefits has welcomed the announcement by Ms Gill Marcus, Deputy Minister of Finance that the Department of Finance is going to re-examine the issue of tax on pensions.
Marcus’ announcement follows substantial criticism from the...