AGP Executive Report
Last update: 6 hours agoSouth Africa Tax & Pensions: National Treasury has brought the Taxation Laws Amendment Act of 2024 into effect, tightening rules around the Employment Tax Incentive after misuse concerns. Pension Custody: Absa takes over as master custodian for South Africa’s Government Employees Pension Fund (GEPF), covering safekeeping and administration of about R3.5trn in assets. Unclaimed Assets: Treasury is also consulting on centralising South Africa’s unclaimed financial assets (over R80bn) under a single administrator linked to the CPD. Cybercrime: A new wave of smartphone banking scams is impersonating DStv, Takealot, SAA and SARS to steal accounts across Africa. Fintech & Payments: TerraPay partners with Vietnam’s TPBank for real-time outbound cross-border payments, while Standard Bank is reported to be in talks to buy a stake in Nigeria’s OPay ahead of a US IPO. Regional Trade Finance: The World Bank says it will deepen support for Tanzania’s Central Corridor to turn it into an economic corridor, with ports, rail and logistics hubs. Energy & Investment: NERSA says registered renewable projects in South Africa have crossed R400bn, raising pressure to speed up grid connections. Corporate/Markets: Citi appoints JPMorgan veteran Andre Ross to lead banking in South Africa; Zimbabwe’s ZSE is praised after topping African stock market returns in USD terms.
Note: AI summary from news headlines; neutral sources weighted more to help reduce bias in the result. Feedback is welcome. Please let us know if you have any comments or suggestions about the AGP Executive Report.
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