The Co-Chairman of the Consumer Goods Council of South Africa (CGCSA) Gareth Ackerman has called on the government to remove restrictions limiting alcohol sales to four days, saying the financial losses to retailers have become unsustainable. Jobs were also under threat said Ackerman. “Currently, retailers selling liquor for responsible consumption at home are restricted to operating from Monday to Thursday. However, those selling liquor for on-site consumption, like bars and taverns can trade for a full seven days. This makes no sense for a sector that accounts for only 30% of the total liquor throughput. If the reason to
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Monthly Archives Feb 2021
HOW YOUR MARITAL REGIME AFFECTS ESTATE PLANNING
By Christel Botha, fiduciary services manager at Alexander Forbes The month of love has arrived, and many couples will be getting married, or planning a wedding. It makes sense to draw up a new will in conjunction with a marriage contract, and it is important to understand the effect which your marital regime has on estate planning and what the law says about leaving your possessions to persons other than your spouse, beforehand. In South Africa, there are a number of systems according to which you can get married; however, the following are the most common: “What is mine is
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HELP ‘SAVE OUR BEACH HUTS’ WITH NEW PNP REUSABLE BAG
Pick n Pay has launched a new 100% recycled RPET bag to help raise funds for the ‘Save our Beach Huts’ – a project aimed at restoring the 36 beach huts in Muizenberg and St James that are strongly rooted in Cape Town’s heritage. Proceeds from the limited edition reusable bags – showcasing a beautiful print of the iconic beach huts – will be donated to the project. The PnP bags will be available in selected stores nationwide for just R30. “The Save our Beach Huts reusable shopping bags will help protect a landmark in Cape Town – favourably known
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GENIAL EXECUTIVE CHEF RETURNS TO SUN INTERNATIONAL
When the new Maslow Hotel Executive Chef says he doesn’t look at the time, he looks to see if a job is done, you start to appreciate why Algerian-born Omar Menhouk says he drinks up to six expressos a day. With more than 20 years’ cheffing experience in some of the continent’s most exclusive properties, he first arrived in South Africa in 1994 to open a well-known French restaurant in Pretoria. He returned to Gauteng in December, after working in neighbouring Swaziland, to head up the kitchen brigade at The Maslow, Sun International’s premier business hotel in the heart of
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‘LONG COVID’ COULD BE THE BIGGEST EMPLOYEE HEALTH CHALLENGE FACING EMPLOYERS
Having long-lasting symptoms after Covid-19 is dubbed “long Covid” or “long-haul Covid”. Employers should be taking note of how this will affect worker productivity and medical incapacity in the workplace, say Anton Engelbrecht, Alexander Forbes Senior Health Risk Consultant and Myrna Sachs, Head of Alexander Forbes Health Management Solutions. Usually Covid-19 symptoms last two weeks for a mild infection and up to six weeks in a severe case. If your symptoms persist or you develop new symptoms relating to SARS-CoV-2, the virus which causes Covid-19, then you have long Covid. Long Covid may linger three months or
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Annuitisation of Provident funds with effect from 1 March 2021
With effect from 1 March 2021, the Taxation Laws Amendment Act of 2020 has enacted rules which regulate the annuitisation of provident fund and provident preservation fund members on retirement, as discussed below in this article by Jenny Gordon, Head of Technical Advice at Alexander Forbes. Gordon believes there are many system changes required and a great deal of work needed to implement and give effect to these changes. The Taxation Law Amendment Act of 2020 was signed into law by the President on 20 January 2021. This has enacted the long awaited legislation which provides for the same annuitisation
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Altron appoints Human Capital Executive
JSE-listed Altron has announced the appointment of Nametsegang Maruping as Group Executive: Human Capital, with effect from 1 February 2021. Maruping is currently Head of Human Capital in Altron Rest of Africa, a position which she retains. Maruping joined Altron Rest of Africa in 2018 as the Head of Human Capital. She was responsible for leading and providing human capital strategic oversight across Africa and Middle East with a key focus on Botswana; Kenya; Mauritius; Middle East, Mozambique; Namibia and South Africa. Prior to joining Altron, Maruping worked at companies such as Absa, Standard Bank and Unilever as
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Alexander Forbes identifies key economic trends and investment themes for 2021 and beyond
Following the volatile year for the global and domestic economies in 2020, we expect 2021 to see an improvement, though uneven across economies. Isaah Mhlanga, chief economist at Alexander Forbes, says, “South Africa’s economic recovery depends on several factors, some controllable and others uncontrollable, with the most important one being the logistics of Covid-19 vaccines.” Which factors will drive the economic recovery this year and beyond? The extent of Covid-19 infections and related deaths, and government’s lockdown restrictions The second wave of Covid-19 infections appears to be moderating. With the relaxation from level three from the third week of February,
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FUTURE-PROOFING YOUR RETIREMENT
By Rob Rainier, Eastern Cape provincial executive: Individual Consulting at Alexander Forbes Financial Planning Consultants. Everything in your life reflects a choice you have made. If you want a different result, make a different choice. When it comes to people facing the reality of retirement, I have often heard the comments: “If only I had contributed more to my retirement savings.” “I shouldn’t have cashed out of my fund when I left my previous employer.” “I should have kept going with that savings plan my parents started for me.” Understandably, life happens and you only feel
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