The Competition Commission’s probe into bank fees is yet to be formalised, but already there are signs of major price cuts and new competitive winds beginning to blow in the sector. Nedbank, one of the Big Four, this weekend announces fee reductions averaging 13% across the board.
If you are inclined to bet on the weather, now is the time to buy shares in short-term insurer Mutual and Federal (M&F). A shining star in the Old Mutual camp, M&F announced enviable interim results this week — and gave ”benign weather” as the reason. ”In recent months, South Africa experienced no major weather events. This means that we have not had to pay out on damages associated with such events.”