The Budget presents a dilemma to the unions. Mboweni himself grappled with the conflicting demands, writes Mpumelelo Mkhabela.
Alexander Forbes says Coronation has increased its interest from 3% to 7%, as appetite for stock in the company continues to rise.
Alexander Forbes announced on Wednesday that ARC would be buying another R1bn worth of shares in the company.
Despite recording only a 1% increase in operating income and 3% operating profit from its remaining businesses, Alexander Forbes CEO, Dawie de Villiers said given where the company comes from, he thinks it's finally delivering to shareholders.
Momentum Metropolitan has entered into an agreement to acquire Alexander Forbes Short Term Insurance business.
The financial services company says it is commencing a process to seek a buyer for its insurance businesses, but has not disclosed an estimated price yet.
Alexander Forbes CEO of corporate and employee benefits Tony Powis and head of retail financial services Sugendhree Redd will leave by the end of this month, Alexander Forbes’ new chief, Dawie de Villiers, said in an interview in Johannesburg on Wednesday.
Alexander Forbes has released its interim results, two months after removing a CEO, losing R339m to a failed software project, and protests over an estimated R49bn in unpaid retirement funds.
Shares in the financial services provider rose in early trade after it announced it had terminated the services of CEO Andrew Darfoor.
The storm clouds are gathering and are about to burst for consumers, economists warned after poor GDP data confirmed that South Africa was in a technical recession.
South Africa’s latest budget flirted with changes to the way South Africa’s retirement funds operate.
Momentum Metropolitan announces the completion of its acquisition of Alexander Forbes' short term insurance business AFI.
ARC’s stake in Alexander Forbes will increase to 33.9%, while Mercer’s will decrease to 4.5%.
Alexander Forbes and axed group executive Andrew Darfoor have reached a settlement, the financial services firm has confirmed.
Most working South Africans rely on the money saved in their employer's retirement fund to provide them with an income in retirement.
The financial services group has hit out at media reports about a proposed sale of one of its units, saying it believes the stories were leaked by a "disgruntled former employee" and were "inaccurate in many respects".
The company told Bloomberg that CEO at Alexander Forbes Investments Leon Greyling, group chief risk officer Vishnu Naicker and chief human resources officer Christian Schaub plan to pursue other business interests.
Andrew Darfoor, who was fired as chief executive officer of Alexander Forbes, says he has lodged a case against the financial services firm with the Commission for Conciliation, Mediation and Arbitration.
Wealthier South Africans could feel the pinch of a hidden wealth tax, with Finance Minister Malusi Gigaba announcing an increase in estate duty and higher excise taxes on luxury goods in his budget speech.
There is no need to panic about the outcomes from the ANC elective conference, according to Lesiba Mothata, executive chief economist at Alexander Forbes.
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