Author: Gugu Lourie

The Financial Sector Conduct Authority (FSCA) has issued a public warning against Vusy Holdings (Pty) Ltd, trading as Tshi-Lettie Funeral Services and Tombstones. The regulator states: “We urge the public to exercise extreme caution when considering funeral insurance policies from this provider. Our investigation found they may be issuing policies without proper authorization.” Key Concerns: Tshi-Lettie Funeral Services cannot be found at its registered address The company is not authorized by the FSCA or Prudential Authority to sell insurance Selling insurance without a license is a criminal offense in South Africa FSCA’s Strong Warning: “Any company issuing insurance policies must be authorized by both the FSCA…

The Financial Sector Conduct Authority (FSCA) has issued an urgent warning about a fraudulent investment scheme using deepfake videos of President Ramaphosa, Dr. Patrice Motsepe, Leanne Manas and Paul Mashatile to trick the public. These scams promise daily profits of R13,000–R17,000 on a R4,500 investment: an unrealistic return that signals fraud. The FSCA confirms these platforms are not authorised and may be stealing money from investors. How the Scam Works: Fake videos of Pres Ramaphosa and other leaders endorse the scheme. Fraudsters use AI-generated deepfakes to appear legitimate. No response when questioned by the FSCA—a major red flag. How to Avoid Being Scammed: Check FSCA registration before investing. Never trust “guaranteed…

Telkom Consumer has demonstrated the success of its data-focused strategy with impressive financial results, including double-digit growth in mobile revenue and subscriber numbers. The Telkom division, led by CEO Lunga Siyo, achieved a 10.2% increase in mobile service revenue to R20.9 billion, powered by a 12.3% surge in mobile data revenue – marking the second consecutive year of such strong performance. “We delivered market expansion, revenue diversification and strong customer loyalty, while strategic investments in digital innovation and network resilience drove sustained profitability,” the company stated. These results affirm Telkom Consumer’s position as South Africa’s fastest-growing mobile and fixed broadband…

Telkom has brought cheer to its investors by declaring dividends for the first time in four years, with a total payout of R1.3 billion to shareholders. The company’s Group CEO, Serame Taukobong, expressed satisfaction with this development, stating, “We are pleased to confirm the reinstatement of a dividend, signalling a renewed focus on delivering value to shareholders after a four-year suspension.” The payout comprises both an ordinary and special dividend amounting to R2.61 per share, marking a significant milestone in Telkom’s financial recovery. The decision to resume dividend payments follows strong operational performance across Telkom’s business units. The Consumer division…

In recent years, the Financial Sector Conduct Authority (FSCA) has received multiple complaints regarding unlicensed entities issuing performance guarantees. State entities, including municipalities and government departments, often require these guarantees from contractors bidding on infrastructure projects, as stipulated in the National Treasury’s General Code of Contractors. However, investigations revealed that many entities offering these guarantees were conducting unauthorised insurance business. The FSCA emphasizes that holding a National Credit Act licence or an FSP licence does not permit an entity to issue insurance products. Why This Poses a Risk The FSCA warns that: Guarantees issued by unlicensed insurers may not be legally enforceable. The Insurance Act protects policyholders and ensures market integrity—benefits not available with…

Alexforbes reported a 15% increase in Headline Earnings Per Share (HEPS) to 70.8 cents per share for the year ended 31 March 2025, driven by the strong performance of its discontinued operations. HEPS, recognised as South Africa’s most accurate measure of profitability, underscores the company’s sustained financial strength. Dawie de Villiers, Chief Executive Officer of Alexforbes, reflected on the company’s legacy, stating: “What excites me about Alexforbes is the way we have punched above our weight for 90 years and the impact we’ve had on the financial services industry. “We have influenced and led real change and continue to do so and most importantly, we…

The Special Investigating Unit (SIU) has obtained a preservation order from the Special Tribunal to freeze a luxury property in Midstream Estate, Gauteng, as part of ongoing civil proceedings into the alleged misuse of funds allocated by the National Lotteries Commission (NLC). The court order prohibits Israel Mathibe, Smart Safety PPE, and any other related parties from selling, transferring, donating, or otherwise dealing with the immovable property in any way. The SIU’s investigation uncovered that funds intended for critical community projects – including agricultural development and old-age homes in rural areas – were allegedly diverted through a network of non-profit…

Gauteng Premier Panyaza Lesufi and MEC Kedibone Diale-Tlabela of the Gauteng Department of Roads and Transport (GPDRT) will officially unveil a new, high-tech tamper-proof number plate system on Thursday, 5 June 2025. The Gauteng Provincial Government disclosed in a post on Twitter/X,. Premier Panyaza @Lesufi together with @GPDRT_ MEC Kedibone Diale-Tlabela will on Thursday, 05 June 2025 preside over the unveiling of a new, cutting-edge technological, tamper-proof provincial number plate system. #RoadSafety #AgaLeRona #GrowingGautengTogether #TacklingG13 pic.twitter.com/eSvDTMY2Dg — Gauteng Provincial Gov (@GautengProvince) June 3, 2025 Gauteng’s New Number Plate System: A Game-Changer For Crime Prevention And Youth Entrepreneurship Gauteng unveiled last November a cutting-edge number plate system designed to bolster security…

Onafriq, Africa’s largest digital payments network, celebrates its 15-year anniversary by announcing a major milestone: nearly 1 billion mobile money wallets and 500 million bank accounts are now linked via its infrastructure. Originally launched as a mobile money switch, Onafriq has evolved into a full omnichannel payments network, enabling: Cross-border disbursements & collections Card issuance & processing Offline agent banking services FX & treasury solutions By fostering digital interoperability across mobile wallets, bank accounts, cards, and offline channels, Onafriq is driving Africa toward a seamless financial future. A Vision for a Connected Africa Dare Okoudjou, Founder & CEO of Onafriq, stated: “Fifteen years ago, we set out…

Mezzanine, the innovative tech subsidiary of the Vodacom Group, is actively pursuing expansion opportunities across Africa, focusing on agriculture and healthcare to drive digital transformation. Videsha Proothveerajh, Director of Vodacom Business, said: “Mezzanine is actively exploring several expansion opportunities across various sectors in Africa. “These include initiatives in agriculture, such as the Agri Vouchering solution for livestock in Kenya and the M-Kulima program in Tanzania. Additionally, Mezzanine is pursuing opportunities in the healthcare sector.” This sector-focused approach allows Mezzanine to demonstrate its adaptability and commitment to solving Africa’s most pressing challenges. Agriculture: eVuna & M-Kulima Driving Growth Mezzanine’s Connected Farmer platform (eVuna) has already transformed small-scale…