On 21 July 2022, at their most recent meeting, the monetary policy committee of the South African Reserve Bank (SARB) voted to increase the repurchase rate (repo rate) by 75 basis points to 5.5%, in other words by 0.75 of a percent. What is the repo rate exactly? As per the SARB website (https://www.resbank.co.za), “The repo rate is so called…
Covid-19 During the various Covid-19 waves, medical schemes have experienced a reduction in claims for trauma events (emergencies) and planned non-emergency procedures. These reduced claims experiences led to medical schemes building up larger financial reserves. The Discovery Medical Scheme data indicates that those who were hospitalised due to Covid-19 infection, have a 3.5 times chance of developing cardiac related disease…
Recently, I was reading the responses to an online survey that was looking at the public’s experiences in dealing with financial advisers. The responses really shocked me and quite frankly it depressed me. Not a single one of the responses painted the adviser in a positive light. There were many complaints about some being pushy salespeople and others not showing…