News 2 May 18
Billionaire financial planning boss reveals dementia diagnosis
The founder and chairman of South Africa’s PSG Group has announced that he was recently diagnosed with an early form of dementia.
South Africa gets $14bn boost by avoiding junk status
Moody’s decision to not downgrade South Africa to junk status has saved the economy about £14bn in outflows from the local bond market, according to an expert from Morningstar.
Old Mutual bosses step back as managed separation finalised
Old Mutual chief executive Bruce Hemphill and chief financial officer Ingrid Johnson have resigned from their board positions at the group as details on the final legal process for the managed separation are announced.
S Africa to prosecute as outstanding tax returns hit 30 million
The South Africa Government is criminally prosecuting non-compliant taxpayers, including prominent South Africans, as 30 million tax returns are now outstanding in the country.