07/22/2014

Fitch affirms South Africa bank ratings

The long-term issuer default ratings of South Africa’s major banks have been affirmed by the Fitch Ratings agency, it said over the weekend.

07/18/2014

Fitch affirms SA bank ratings

The major South African banks all had a strong domestic franchise, which underpinned stable core earnings, sophisticated risk management, and acceptable liquidity and capitalisation.

07/11/2014

S/Africa’s stokvel saving clubs creating wealth

But a study by research group Africa Response showed Thursday that stokvel members are increasingly using their earnings to create wealth by investing in interest-bearing instruments, with some even investing their cash on the stock market.