Neesa Moodley, Author at Latest News

The United African Stokvel digital investment scam has spread from South Africa to neighboring countries

Daily Maverick In direct contact with investors – invested amounts range from less than R15,000 to over R500,000 in several instances. The victims are mostly between the ages of 30 and 50, with a large number of young investors between the ages of 2 and 30 and at least two retirees. Many are afraid to … Read more

United African Stockville social media ‘scam’ leaves thousands of investors in a financial nightmare

Nearly 100,000 people appear to have fallen victim to what appears to be a scam run by Facebook-based United African Stokvel, which was the subject of a search and seizure raid by the Financial Sector Conduct Authority (FSCA) at the end of June. The FSCA investigation, which is still ongoing, followed the whistleblower report and … Read more

Solar panel theft is on the rise as criminals seize a new opportunity

Although no statistics are available, solar panel theft is definitely on the rise, Rodney Taylor, managing director of home automation company Guardian Eye, told Cape Talk Radio recently. “Load shedding has created high demand and a huge black market for solar panels,” he said, adding that the panels are either stripped of components including copper, … Read more

Final Closing Request for Habib Bank Overseas Liquidation scheduled for August 8th

The “urgent” final liquidation request of Habib Overseas Bank (HOB) will be heard on Tuesday 8 August. The application was launched by the Prudential Authority (PA) and the Reserve Bank of South Africa in the High Court on July 21, after the finance minister decided to place Habib Overseas Bank under conservatorship in March. The … Read more

Teaching students how to invest directly for 50 years

Today’s students learn how to invest first-hand through JSE’s Investing Challenge, which is currently in progress for fifty yearsy year. Makusazane Matupila, who grew up on the Kwachiza Dampa Reserve in KwaZulu-Natal, says saving money wasn’t something she considered when her parents were struggling to make ends meet. Today, Mathubela is pursuing a Bachelor’s degree … Read more

Four red flags that you’re living beyond your means – and how to get your budget back on track

Among the biggest trends right now are YOLO (you only live once) and FOMO (fear of missing out), largely in response to relief after nearly three years under global lockdown conditions. There has definitely been a mental shift towards travel and the experiences people promised themselves when they were on lockdown, says Thopi Mhloli of … Read more

School fees are at the top of the stress category for South Africans

School fee payment emerged as a significant monetary stressor, ahead of inflation and interest rates, for South Africans in the second annual DebtBusters Financial Stress Tracker Survey. More than 35,000 respondents who are not currently in debt counseling were included in the 2023 online survey. Of the 78% who admitted to financial stress, 94% said … Read more

Unveiling the medical charts industry is contesting low-cost benefit options

back story Back in December 2016, demarcation regulations were published jointly by the Minister of Health and the Minister of Finance, making it clear that some insurance policies contain elements of a medical planner’s work and are classified as “health policies” and/or “accident and health policies” with the exclusion of products Primary health care and … Read more

The court orders the Board of Medical Plans to search source documents on low-cost benefit options

The Board of Health Funders (BHF), which represents a large portion of the nation’s medical schemes and health care funders–serving nearly 4.5 million individuals–filed the Supreme Court in August last year asking that medical plans be allowed to offer low-cost benefit options. On July 10, Judge Botha ruled in favor of the BHF and ordered … Read more