Category Archives: Featured

Vehicle Finance for Blacklisted People in South Africa

Vehicle Finance for Blacklisted People in South Africa – V rentals, vehicle hire specialists

Vehicle ownership is quite often the ultimate goal for many people. There are however circumstances which hamper on the prospect of full ownership of a motor vehicle but rather necessitate the practice of renting. Some of the mitigating factors which go against full vehicle ownership include affordability, trying to transport huge groups of people and short-term visitation reasons. One business house which is catering for these needs is V rentals.
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Momentum Investments, the trusted partner

Momentum has distinguished itself as a reliable financial institution which is mainly concerned with the financial wellness of South Africans. Momentum has dedicated itself to the provision of products and services which assist clients fulfil lifelong financial needs within their budgets and individual circumstances. One of the ways in which it has cultivated this financial wellness culture is by allowing responsible and stress free investing.
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debt relief

How will the National Debt Relief and Amnesty help consumers?

South African statistics gathered over the last decade have indicated that the south african economy is hard pressed by credit and the south african citizens are drowning in debt. Recent statistics from the south african reserve bank show that total household liabilities amounted to R1378 billion of which 95.9%  is consumer credit with other debt and liabilities adding 4.1%.  Other statistics have also shown that municipalities are owed R76.6 billion, of which households owe two-thirds. General numbers from statistics south africa indicate 8 million households are currently struggling to pay debts and yet more and more debt is being accrued with a 22.91% increase in new credit approvals being recorded. The resulting effect of these stats is that 70% of average household income goes to debt servicing and household disposable incomes is heavily affected. An approximate two million of these figures are blacklisted. This is indeed a grim picture of the south african debt situation and it requires urgent remedy.

While government has put in efforts like the national credit act and the magistrates act to mitigate this growing problem, these measures have not averted the problem.

The national debt relief efforts seeks to tighten lending regulations and abolish garnishee orders. Through the debt relief efforts, government through the treasury is spearheading efforts aimed at improving responsible lending which will include reviewing loan affordability assessments, applying appropriate relief measures for distressed borrowers and evaluating how debit orders are used against debtors.

The critical part of the relief and amnesty measures involves removal of negative credit information under R10000 which will consequently benefit 86% of people earning R15000. The aim of the amnesty and relief will not be to write off debts and allow access to credit which people can’t afford but rather giving some people who are blacklisted a clean slate and start which will help them get access to jobs and housing.

The national debt relief and amnesty will therefore work towards creating a debt environment in which credit and repayments are done rationally and responsibly. It will also reduce on the number of people who have been prejudiced by the listing of adverse credit information and yet these people have settled their debt. This amnesty and relief in the long run will act as a catalyst and stimulant to economic growth and a great step to  attaining a healthy credit market.

Government through the treasury has already finalised and issued the amnesty notice and if adopted by government, the 5 year implementation process will kick  in by 1st October 2013.

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best paying jobs

Highest Paying Jobs in South Africa

Best Paying Jobs in South Africa. We all wish to have really high paid jobs so that we may fulfill our needs and desires without any care. Education is an important factor when it comes to earning potential. Having a degree, or even better, a post graduate degree allows easier entry into the above-average salary range. Once in the field, promotions depend on the quality of work that a candidate is providing. So what are the highest paying jobs in South Africa?

Petroleum engineers: The field is intense and requires a lot of dedication towards work. A candidate as such should have obtained a Masters Degree, to enjoy a revised salary on a yearly basis. The average amount that someone can earn in this profession is R572 600 per annum.

Air Traffic Controllers: This occupation often requires prior experience, and a candidate needs to have a lot of devotion to his/her work. Most companies offer a pay around R583 450 per annum for such an occupation.

Computer and Information Systems Managers: If you’re an IT (Information Technology) or computer guru. Then this is for you. If a candidate has basic four to five years of experience, he/she can start at a salary package of R587 230 per annum.

Lawyers: All parents want their children to be lawyers, and with reason. The starting salary package of a lawyer can vary from R643 440 to R665 000 per annum. If a candidate has been practicing for three to four years, he/she can easily work under a reputable and well-recognised firm.

Airline pilots and flight engineers: People in this field spend a lot of time in education and training, but the years are worth the wait. Once a candidate has completed training and education, he/she can easily start with a post of a minimum salary package of R695 800 per annum.

Highest Paying Jobs

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Sanlam & Santam – Rated Best by South Africans

Best short term insurance company – Short term insurer, Santam, and life insurer, Sanlam became apparent as industry leaders in the insurance sector by the South African consumer satisfaction index (Sacsi).
SANTAM first hit the market in 1918, and now holds 20% of the market, making them the largest provider of short term insurance in the country. With their focus on corporate, commercial and personal insurance, Santam takes it is their stride to provide highly specialised client-orientated financial packages to meet necessary needs.

In the survey, Customers gave the short-term insurance industry an average satisfaction score of 77.5 out of 100, against which Santam scored 3.6% higher.
SANLAM, also founded in 1918, is a pioneer in transformation and provides financial solutions to individual and institutional clients. The solutions include individual, group and personal financial services such as estate planning, trusts, home and personal loans, savings and linked products, investment, asset management and more.

Sanlam life measured according to the customer satisfaction index, and came out with a score of 2.9% higher than the industry average, which rated at 77.1 out of 100. Furthermore, being identified as industry leader, Sanlam Life enjoys a position amongst the top five best scoring life insurance companies in the world.