Credit Life regulations have been live for long enough now that insurers are starting to feel the impact and the shake-up of amongst industry players is starting to emerge. There have been plenty of debate around the regulations, in part because of the dramatic financial and operational impact they will have, and partly because of …
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In 2014, John Oliphant was fired from the Government Employees’ Pension Fund (GEPF) where he was principal executive officer. There were allegations, some details not disputed, that had Mr Oliphant accused of exceeding his powers and not following due process which amounted to, at the maximum, some hundreds of thousands of Rands. That outcome, with …
The Brookings Financial and Digital Inclusion Project measures South Africa one place behind Kenya in terms of financial inclusion. I’m still working my way through the full report, but Kenya’s score is a significant jump above South Africa and the closely contested positions below it. Is Kenya genuinely making such inroads or is this a …
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I read a letter from Pali Lehohla on news24 this weekend. Lehohla, the head of StatsSA, disagreed with a report by DaMina Advisors on economic growth in South Africa during and post the apartheid era. To paraphrase Lehohla, he disagreed with their methodology, their data and their values and ethics: First, I need to engage the …
Continue reading “Economic growth during and after Apartheid and the real problem with 1%”
Foreign person? Foreign company? Foreign trust? Local company owned by foreigners? Local company owned partly by foreigners? Foreign company owned by locals? Local company owned by locals with debt finance from foreigners? Local bank with foreign shareholders and repossessed properties? Local insurance company issuing policies to foreigners? BRICS bank? Foreigner married in community of property …
Jeffrey Robinson, the author of the well known book “Laundrymen” that I’m now reading, has written an engaging story about The Satoshi Faithful (as he calls them) supporters of Bitcoin and where their Faith is leading them stray. The book is called BitCon: The Naked Truth About Bitcoin and it doesn’t pull punches in deriding the …
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The UK Telegraph (and other sources) are highlighting the rising panic about Euro area deflation. For those Austrian / hard money / gold standard / bitcoin / generally poorly informed amongst you, it’s not that deflation is itself a problem, but that it creates scenarios of debt spirals increasing the real value of debt obligations and …
S&P declares Argentina to be in default for the second time in 13 years and the third in 25. Inflation is likely to hit 40% this year and the Peso has already lost a quarter of its value this year, measured against the US Dollar. Messages? This time isn’t different, sovereign debt crises happen all …
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