SA Money Daily | Why Standard Bank is betting on insurance and investments in SA, Nigeria and Kenya

Prasa axes Zolani Matthews - again - with immediate effect

View Online SA Money Daily The biggest business, economic and market news of the day. AHMED AREFF, BUSINESS DEPUTY EDITOR Why Standard Bank is betting on insurance and investments in SA, Nigeria and Kenya Standard Bank has big plans to grow its insurance and investment business in South Africa, Nigeria and Kenya, as it seeks to offer its clients a one-stop financial service offering – but also as a buffer against volatility in the banking sector.   That comes after the insurance and asset management part of its business grew its headline earnings by 19% to R1.62 billion in the six months to end-June, vindicating Standard Bank's decision to buy out the remaining 43% stake in Liberty in 2022.   The insurance and investment provider, now integrated into the group, was the standout performer in the half-year results, which showed a 2% fall in the bank's net profit to R21.5 billion.   CEO Sim Tshabalala said the plan is to further extend its investment and insurance services, also as part of its drive to build out private banking targeted at higher-income clients in South Africa and elsewhere. Read More Sponsored | The Importance of green crypto mining Cryptocurrency mining serves multiple functions and is a significant part of the blockchain sector. It is the process through which most proof-of-work (PoW) blockchains, like Bitcoin (BTC), introduce new coins into circulation and secure the network. Prasa axes Zolani Matthews - again - with immediate effect The announcement comes on the back of a protracted legal battle between the parties over the axing of Matthews as CEO and his and bids for reinstatement – and an order by the Labour Court last month to reinstate him. Exxaro nears deal to pivot its business - even as coal is 'strangely enduring' The major coal miner expects to announce progress on an acquisition in the next six months. Debarred Sanlam broker tried to insure brother's house after it was set on fire A former Sanlam Life broker was debarred after attempted to insure his brother's house moments after it was set on fire. eFiling hijackings: Tax ombud probes SARS over 'systemic failures' The Office of the Tax Ombud will investigate whether the SA Revenue Service (SARS) did enough to help taxpayers whose eFiling profiles have been hijacked. Diesel, petrol price cuts on the cards for September The latest estimate from the Central Energy Fund shows that the price of 95 unleaded petrol is due for a decrease of around 67c a litre, while the wholesale price of diesel could be lowered by 53c (0.05% sulphur content) and 77c (0.005%) a litre. Starlink troubles: SA communications regulator to look into new satellite rules Icasa is set to hold an inquiry to look into new satellite rules in the country. This comes as many South Africans remain frustrated by a lack of legal access to the biggest satellite connectivity provider, Starlink.   If you would like to participate in a survey for research through the Gordon Institute of Business Science into how the credibility of news media and the accuracy of the information it publishes can lead to people adopting a new business model for the media industry, please click here.  DOWNLOAD THE NEWS24 APP CONNECT WITH US

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