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SA economy is seeing massive bounceback – BankservAfrica

May 12th 2021 at 18:01
But the recovery is uneven and more of a move back to the pre-Covid-19 level.

22seven founder Christo Davel joins Direct Transact

May 4th 2021 at 06:47
Christo Davel, the co-founder of the 22seven personal financial management platform acquired by Old Mutual in 2013, is joining Direct Transact as chief commercial officer.

Blacks victims of β€˜racist banks’ – #RacistBanksMustFall movement

April 29th 2021 at 16:14

Members of the #RacistBanksMustFall movement on Thursday handed over a memorandum of demands, following accusations that First National Bank and Absa have been β€œracially selective” and victimised black people financially.

Members of the movement, students and unions took to the streets of Sandton to march against β€œracist” banks.

The movement’s leaders said they were tired of the banks being racist towards people of colour by giving them higher interest rates.

ALSO READ: Claims of discrimination against black FNB customers heads to court

According to the president of the Transform Republic of South Africa, (TRSA) Adil Nchabeleng, major banks have been targeting black people by closing their bank accounts without warning, or even an explanation.

He claimed banks were targeting black people’s assets during the Covid-19 pandemic, even though many people had lost their jobs.

β€œWe are tired of the racism meted out to black people by these racist banks. We are tired of being victimised and facing account closures and repossession of our assets, be it our cars or houses.

β€œStudents cannot go to school because education is not free and now they are even denied loans because they are classified as credit risks. Parents cannot afford houses because they are either unemployed, unemployable or also classified as risk. But according to who?” asked Nchabeleng.

ALSO READ: Wesbank accused of charging its black clients more on interest

Jacob Seleka, whose house and car have been repossessed, said SA was faced with many issues in the financial sector and black people were being oppressed as the most vulnerable race.

β€œWe are not saying these issues must be fixed now but we are willing to work with these banks towards a better tomorrow,” he said.

The average take home pay in South Africa right now

April 28th 2021 at 05:37
The average monthly take-home pay in South Africa decreased in March, the latest BankservAfrica Take-home Pay Index shows, but is slightly higher than the same time last year.

Capitec undeterred by earnings dip, focuses on growth

April 17th 2021 at 15:00
By: Eyaaz

Planning for innovation and not the pandemic has given Capitec bank runway to better results

The post Capitec undeterred by earnings dip, focuses on growth appeared first on The Mail & Guardian.

This is what the average worker gets paid in South Africa

March 30th 2021 at 06:23
Stats SA has published the latest Quarterly Employment Survey (QES) for Q4 2020 - ending December - showing what workers are getting paid across the various sectors in the country.