Wealth Advisory Newsletter

Eight electric vehicles coming to South Africa in 2024

Porsche's push for electrification gains momentum with the introduction of the next-generation all-electric Macan SUV, embodying the brand's commitment to having more than half of its new cars fully electric or plug-in hybrids by 2025 as reported by News24.

Concurrently, South Africa's automotive landscape experiences a surge in electric vehicle entries, including the Dolphin hatchback and Atto 3 crossover. Volvo broadens its electric lineup with the affordable EX30 SUV and flagship EX90, while Mini makes a comeback with electric models, Cooper SE and Countryman SE. Lotus re-enters the scene with the Eletre SUV, Maserati introduces an electric version of the Grecale, and JAC delivers two T9s, featuring both a plug-in hybrid and a fully electric double cab, marking a notable shift towards electric mobility in the region, reports BusinessTech.

FlySafair introduces direct flights from Cape Town to Kruger National Park

FlySafair is launching a new route from Cape Town to Kruger Mpumalanga International Airport on April 2, using its Boeing 737-800. The direct flights aim to address limited options from Cape Town to the Kruger National Park area, boosting accessibility. Chief Marketing Officer Kirby Gordon is excited about the new route, especially considering Cape Town’s 76% increase in international tourism from January to July the previous year, attributed to efforts by Cape Town Tourism, reports Bizcommunity.

Pension fund reform: The race to be ready is on

Pension funds and their administrators are racing against time to implement highly complex changes to their rules before South Africa’s pension fund reforms come into effect on 1 September this year, instead of 1 March 2025 as originally planned. A major concern is the lack of final legislation which means some 3 000 retirement funds will have to amend their rules without knowing whether there will again be changes once the final bill is passed. The South African Revenue Service will have to be ready to issue millions of directives once the new system is in place since pension funds will not know what the individual’s marginal rate will be if there are different streams of income, reports Moneyweb.

The plan for R4.5 bn in unclaimed dividends in South Africa

South Africa has R4.5 billion in unclaimed assets, including R4.5 billion in dividends, leading the JSE to launch a nationwide initiative to reunite individuals with unclaimed entitlements. JSE Investor Services will handle dividend processing, utilizing its expertise. The initiative, prompted by the FSCA's 2022 paper, aims to educate shareholders and engage larger issuers for success, reports BusinessTech.