By Shelley van der Westhuizen, head of financial well-being strategy & applied research at Alexander Forbes People often need support to make the most of their money to live better and retire better. The right support at the right time means that better choices are possible because they’re based on a good understanding of options. Choices that relate to big financial decisions often are best made with expert help from a qualified financial adviser. But there are things that each of us can do for ourselves to make the most of our money. Making the most of your money involves
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Monthly Archives Aug 2021
THE REPRESENTATION OF WOMEN IN THE SOUTH AFRICAN ECONOMY
By: Khanyisa Phika – Alexander Forbes Economist More than 26 years later, women are still underrepresented in the South African economy Every Women’s Day commemoration brings us an opportunity to track progress on the declaration made in 1994 by the country’s first democratic government to prioritise gender equality as reflected in the South African Constitution. For centuries women around the world have been marginalised by repressive cultural norms and excluded from fully participating in the economy and in decision-making roles to the detriment of society. Equality, equity, and parity – what’s the difference? Equality is the desired end state of
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PROPOSED NATIONAL SOCIAL SECURITY FUND NOT THE SOLUTION
The Department of Social Development has released a green paper on comprehensive social security and retirement reform for 2021. We note that it is largely similar to previous proposals dating back to 2012. In brief, the proposal is to create a centralised National Social Security Fund managed by government. This fund intends to provide basic benefits for all qualifying citizens up to a threshold, including all employees from within the private sector. In addition, citizens can choose to top up their retirement benefits using an occupational or individual arrangement. In practice, this means that most existing members will become dependent
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Chef Rocco turns local dishes into culinary superheroes at The Palace
Covid-19 triggers a move to healthier eating When guests dine at Sun City’s The Palace Hotel, they expect the ‘wow’ factor – and this even more of the prevailing attitude in the wake of the pandemic, which shrunk budgets for eating out, and saw more people learning how to cook at home. “People now regard themselves as chefs, so when they eat out, they expect magic, and it is our job to deliver,” said The Palace Executive Chef, Rocco Verster. In the two years that he has been at Sun City resort, Verster has focused on bringing his modern style
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Sun International’s only woman casino boss
Annemie Turk, Carnival City’s General Manager, could not be further from your stereotypical image of a casino manager. Turk ended up in gambling almost by accident; when she followed her husband to Carousel, in what used to be Bophuthatswana and now falls under the north of Gauteng. Her career at that time was in the food and beverage sector, and she had completed her internship at Southern Sun. Having been unable to find a position in her sector, she ended up accepting a position at the Bingo tables instead. Turk has never looked back. Gaming is something for which she
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Sibaya and Food for Life Africa offer a lifeline to hungry communities
Sibaya Casino and the Sibaya Community Trust recently partnered with Food for Life Africa in serving up to 9 000 plates of nutritious plant based food during the recent unrest in the Tongaat, Verulam, Phoenix and Durban surrounding areas. The Sibaya Trust and Sibaya Casino’s donation of R45 000 was used to provide piping hot meals for the Verulam community, which was particularly hard hit during the violence. Sibaya General Manager Myan Moodley said that Sibaya was only too pleased to be able to assist. “When members of our community are starving, we see it as our duty to redouble our
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NATIONAL TREASURY’S PROPOSED TWO-BUCKET SYSTEM
National Treasury released a media statement on 11 August, noting that government and other stakeholders are exploring a ‘two-bucket’ system to address retirement fund members’ conflicting needs for longer-term financial security and short-term financial relief: First bucket for longer-term financial security Members must preserve their contributions and the compounded growth invested. They will not have access to this portion of their funds until they retire. Second bucket for short-term financial relief Members may access the fund value for emergencies even while they are employed and a member of the fund. Alexander Forbes supports the intent of National Treasury to
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Wild Coast Sun opens second hospitality vaccine site in the country
Wild Coast Sun, Sun International’s seaside jewel, is opening up the second hospitality vaccination site in the country to assist government in vaccinating as many South Africans as possible against the deadly coronavirus. With two vaccinators on site, each of which can vaccinate 50 people per day, Wild Coast Sun is initially targeting providing jabs to 100 people a day for the first week. This will allow the resort to monitor attendance, before ramping up. Wild Coast Sun will also benefit from this initiative, which will ensure that some 600 workers and contractors can have their inoculations without the need
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Pick n Pay calls for more women entrepreneurs to integrate into supply chain
Spotlight on women-owned SMMEs this Women’s Month Whether it’s pre-cooked meals, haircare products or pet food and more, Pick n Pay customers each day are purchasing quality goods produced or sourced locally by women-owned businesses. Key stats and facts about Pick n Pay and its SMME suppliers: **+2 000 black-owned SMMEs in Pick Pay’s supply chain **+50% of all black-owned SMMEs are women-owned **Pick n Pay’s spend on black women-owned SMMEs increased from R2bn in the 2019 financial year to R5.4bn in 2021 “Women-owned business are a really important part of our supply chain. They help us provide an excellent
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Wendy Ackerman receives Forbes Lifetime Achievement Award at Best of Africa Awards ceremony
Wendy Ackerman has been awarded the Forbes Lifetime Achievement Award during the 2021 Forbes Best of Africa Awards ceremony which took place late yesterday evening, Friday, 6 August 2021. Mrs Ackerman was celebrated alongside other prominent personalities for their contribution and influence on the business, political, leadership and economic landscape of Africa. The awards come after an intensive search and research to find the best candidates for the prestigious awards hosted and presented by Forbes President of Customs Solutions, Mark Furlong. The Forbes Best of Africa Award is presented annually in New York City during the Best of Africa event
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