Africa

SOUTH AFRICA - Sanlam today announced plans to establish a new institutional business committee as part of a major corporate governance review.

SOUTH AFRICA - The South African Local Government Authority's (SALGA) attempt to push various municipal workers' benefits into a newly-created fund may have been impeded after they allegedly failed to register the fund.

SOUTH AFRICA - Independent Municipal and Allied Trade Union (IMATU) general secretary Clive Dunston has rebuked South African Local Government Associations' (SALGA) claims the current pension fund system had racist elements as a move to drum up support...

SOUTH AFRICA - An ugly pensions battle lies ahead as two of the nation's largest municipal workers unions threatened strikes and legal action following the South African Local Government Association's (SALGA) move to dump municipal employees into a single...

SOUTH AFRICA - South African pension fund giant SASOL has revealed it is reviewing a ZAR 800m (US$120m) global value mandate currently managed by Morgan Stanley.

KENYA - British American Insurance Company (Britak) has launched an Umbrella Retirement Benefits Fund which will target small and medium enterprises (SMEs) in the country.

KENYA - President Mwai Kibaki has announced plans to increase the minimum pension for retired public servants by 400%.

SOUTH AFRICA - The Financial Services Board (FSB) has warned pension fund administrators the practice of bulking is unlawful and has threatened to conduct formal inspections.

SOUTH AFRICA - The total value of unclaimed pensions could run into billions of Rands, the Financial Services Board (FSB) announced.

SOUTH AFRICA - For the first time in South Africa's history, total pension fund assets have hit the R1trn (US$162.7bn) mark, according to the latest annual report released by the Financial Services Board.