Last year R20,5-billion worth of individual life investment products were surrendered before maturity. This represents a staggering 26% of the R74-billion the life companies received from total individual premium income last year. When one compares this figure with individual premium income from new business last year, for every R2 of new business written, R1 was lost to surrender.
As violent protests over lack of housing and service delivery erupt in Cape Town, it is useful to contrast the city’s experience with that of Durban. Cape Town’s problems can be understood from various angles. It is no worse off than Durban in terms of human settlement needs — indeed, in terms of absolute numbers, its problems pale in comparison.
If the Reserve Bank believes it has conquered inflation and is more concerned about socio-political holy grails of growth and employment, it should cut interest rates next week, according to Mandla Maleka, chief economist at Eskom Treasury. This in a week when French idiosyncrasies wreaked havoc on local currency.
John Matshikiza’s article ”Random radio doesn’t curb crime waves” (May 13) demands response. Not only are the facts of the case referred to incorrect, but also the writer seems to have misunderstood the legal arguments advanced by the Women’s Legal Centre on behalf of Ms K before the Constitutional Court on May 10.
The ground is a sea of trash; the stench almost unbearable. Yet Pape Ndiaye, who speaks for the hundreds of scavengers who comb the vast garbage dump at Mbeubeuss, near Dakar, Senegal, is proud of his work — which, he says, allows him to retain his dignity. About 1Â 000 people grind a living from this mountain of rubbish spread over three hectares.
Wringing a fine-handling motorcycle’s neck around Kyalami is usually fun. Flogging 167 horses (123kW) around the racetrack in the rain, however, is a different matter, so the five-lap track session that served as my introduction to the new BMW K1200S was more than enough for me.
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Two news caps were on Monday included in the Springbok starting line-up for Saturday’s Test against Uruguay in East London, with Jean de Villiers picked at inside centre. The new caps are Lions scrumhalf Enrico January and right wing Tonderai Chavanga, of Western Province.
Metrorail’s attempt to get a Labour Court order to stop a strike that is disrupting its services failed on Monday, the United Transport and Allied Trade Union said. Metrorail workers said they will continue to strike unless the company agrees to a 6,5% wage increase across the board.
Race-based criticism of Judge Hillary Squires at the weekend was not warranted, the South African Human Rights Commission said on Monday. African National Congress Youth League president Fikile Mbalula at the weekend called Judge Squires an ”apartheid judge”, while the Young Communist League accused him of being a racist.