Press Releases

  • Cape Town workshop upskilling eager interns

    Autoworks, a MIWA-accredited chain of workshops in the Milnerton, Strand, Salt River and Brackenfell areas, is bringing much-needed skills upliftment to interns as part of a partnership programme with Falsebay College. Gunther Schmitz, owner of Autoworks, says they have been in partnership with the college for several years and recently received a Partnership Certificate in recognition and appreciation of their

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  • How long does brake fluid last?

    So how often should you change your brake fluid? Dewald Ranft, Chairman of the Motor Industry Workshop Association (MIWA), an association of the Retail Motor Industry (RMI), says this is a common question customers ask their workshop mechanics The braking system of the vehicle remains one of the most overlooked systems in the vehicle and can be one of the

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  • Money saving tips for teens

    This week is Global Money Week, an annual global celebration, initiated by Child & Youth Finance International (CYFI), with local, regional and international events and activities aimed at inspiring children and youth to learn about money, saving, creating livelihoods, gaining employment and becoming independent and responsible global economic citizens. The theme this year is Money Matters Matter. African Bank recognise

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  • African Bank achieves a leader position in customer satisfaction in SAcsi results

    African Bank, a first time entrant in the Consulta 2017 Customer Satisfaction Index (SAcsi), has come out strongly achieving leader status in all categories when compared with other historically strong performers. Brian Riley, African Bank Chief Executive Officer says the Bank is delighted with the strong results. “Not only have we tied second with FNB in overall customer satisfaction when

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  • Looking to tidy up your financial commitments? Consolidation loans can help

    Managing multiple loans can become a financial headache. It also sometimes means paying multiple transaction fees which could be more than if the loans were consolidated. Neil Thompson, Head of Product at African Bank, says if your goal is to get a solid financial footing in 2018 or simply to manage multiple payments more effectively and efficiently then you may

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  • There’s no such things as a guaranteed quick investment

    SABRIC, the South African Banking Risk Information Centre, has sent out a warning to consumers to be sceptical of any investment that promises quick, high and guaranteed returns. SABRIC CEO, Kalyani Pillay, says scamsters will go to great lengths to get victims to invest in these schemes through the use of social engineering tactics. “They will even come up with

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  • African Bank welcomes Basani Maluleke as CEO

    African Bank is pleased to announce the anticipated appointment of Basani Maluleke as Chief Executive Officer of African Bank Holdings Limited (the Group), effective 1 April 2018. This follows the previously announced retirement of current CEO, Mr Brian Riley on 31 March 2018. Mr Louis von Zeuner, the Chairman of the Board noted, “The Board welcomes the formal appointment of

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  • How will a 1% point increase in VAT impact the cost of credit for the average South African household?

    With 1 April just around the corner, many South African households are concerned about the impact of the 1% increase in Value added tax (VAT) on their standard of living and their ability to save and transact freely. Neil Thompson, Head of Product at African Bank, says that the 1% VAT increase on the cost of credit should be marginal

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  • Commentary on budget from Jaco Pretorius

    In light of the political turmoil of the past six months, we are delighted with the depth and foresight of the 2018 National Budget Review Framework. In the midst of state capture allegations, it is pleasing to note the quality of skills and level of commitment of staff within National Treasury. As expected, it is, as Minister Gigaba stated at

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  • Who are the real losers?

    The implosion of JSE-listed Steinhoff International Holdings NV (“Steinhoff”) has received a significant amount of attention since the spectacular collapse of its share price early in December 2017. While it’s generally agreed Steinhoff’s legal headwinds will take many years to settle, only time will tell whether shareholders will be able to recover any of the losses that they have suffered.

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  • Navigating turbulent retirement investment markets

    New year, new regulations, new trends—the retirement industry is going to be a busy place in 2018. Retirement fund trustees have the unenviable task of navigating through a myriad of complex issues in managing their funds’ investments and growing pressure to help employees with meaningful retirement preparedness. Aside from market behaviour, they also have to deal with the added complexity

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  • Making sense of the new normal

    Retirement fund trustees have the unenviable task of navigating through a myriad of complex issues in managing their funds’ investments. Aside from market behaviour, they also have to deal with the added complexity of understanding the position of their selected asset managers relative to other managers and be able to explain to members why their selected managers were, or were

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