Wealth Advisory Newsletter

New R370m mall coming to South Africa in early 2025 

Riverstone Mall in Meyerton, south of Johannesburg, is set to open in March 2025, with its first phase costing R370 million and covering 20,000 sqm. As the first formal retail offering in the area, the mall will feature a hybrid energy system, reports BusinessTech. 

Can Sars SARS take your pension to settle tax debt? 

The South African Revenue Service (SARS) can issue a notice under section 179 of the Tax Administration Act to collect tax debts from third parties holding money for a taxpayer, including pensions. This reflects ongoing developments in tax law and enforcement in South Africa, which could affect taxpayers and financial institutions moving forward, reports Bizcommunity. 

Rand set to drop below R17 to the dollar in 2025 

The South African rand is projected to strengthen in 2025, potentially reaching R16.75 per dollar, according to a report by Ebury Partners Ltd. The firm notes that South Africa’'s macroeconomic fundamentals are favourable compared to other African currencies, like Nigeria’'s naira, which is expected to weaken further, reports BusinessTech. 

Sales of the first electric Mercedes-Maybach start in SA 

Mercedes introduced a prototype of its new CLA at the Festival d’Hyères in France, marking a stylish entry into the premium compact car market. Built on the new MMA architecture, the third-generation CLA will offer both electric and combustion variants. The model is expected to debut globally in 2025, featuring a powerful AMG variant with around 500 horsepower, reports IOL. 

South Africa’s new R2bn luxury beach resort 

Construction of the R2 billion Club Med beach resort in Tinley Manor, Ballito, KwaZulu-Natal, is underway, featuring a hotel, luxury villas, and conference facilities. Set to open in July 2026, it aims to boost tourism and economic growth in the region, alongside a safari lodge for a combined beach and bush experience, reports, BusinessTech.