Latest news with #Sanlam
IOL News
2 days ago
- Business
- IOL News
How generational trends shape financial confidence in South Africa
Sanlam Credit Solutions reveals its 2025 Credit Confidence Index, highlighting significant generational differences in credit behaviour and financial confidence among South Africans. Image: Supplied Sanlam Credit Solutions has unveiled its 2025 Credit Confidence Index, revealing a marked generational divide in South Africa's credit behaviour, debt management, and financial confidence. Based on data from over 818,000 active users, the findings highlight critical insights into how different age groups engage with credit and what this means for the future of financial resilience in the country. 'Understanding these generational patterns is key to empowering South Africans across all generations to achieve credit confidence,' says Afua Darko, Head of Business at Sanlam Credit Solutions. Using its Credit Confidence Index, Sanlam Credit Solutions analyses behavioural trends across three key pillars: Financial determination Financial resilience Financial wellbeing These pillars help to assess users' ability to manage debt, withstand financial shocks, and maintain healthy credit behaviours over time. No matter the generation, the need for tailored, accessible credit support is evident. Financial confidence starts with knowledge The research reveals that revolving credit and personal loans are major contributors to financial strain across generations. However, many users are not leveraging this credit for long-term gains, such as asset acquisition. For example, only 17% of Millennials (those born between 1981 and 1996) currently have home loans – a sign of delayed or inaccessible wealth-building opportunities. In April 2025, Statistics SA shared research that showed that 26,000 South Africans appeared in court due to bad debt. Drivers of this are likely to be high interest rates, a flat economy, rises in petrol prices, and the cost of basic food baskets. But this debt is avoidable – and manageable – with the right financial education, planning, and tools. In response, Sanlam Credit Solutions is enhancing its free credit coaching services, which have already assisted over 24,000 users in the past four months alone. Coaches offer customised credit assessments, help correct inaccuracies in credit bureau records, and guide users towards sustainable debt management strategies. 'At Sanlam, our goal is to turn debt stress into credit confidence. Financial confidence starts with knowledge and is built through consistent, informed action. We're committed to supporting all South Africans on that journey," says Darko. The Credit Confidence Index data shows that Millennials are under the most acute debt stress, with over half classified as high credit risks that lenders are wary of because there's a higher probability that they will not repay borrowed money on time or at all. As many as 165,000 Millennials are dedicating more than 50% of their monthly income to servicing debt, according to records from VeriCred Credit Bureau, a registered South African credit bureau. Many have turned to debt counselling, with 56% of debt-stressed Millennials engaging Sanlam Credit coaches in recent months for support. 'Millennials are carrying the weight of unsecured credit, rising living costs, and delayed asset acquisition like home ownership. The encouraging sign is that this group is actively seeking support – they're not shying away from their financial reality," says Darko. In contrast, Generation X users (those born between 1965 and 1980), while facing similar levels of credit risk, are far more skeptical about solutions like debt counselling. The report attributes this hesitance to lingering financial education gaps and generational attitudes towards formal financial assistance. Gen Z is showing high levels of digital financial literacy Meanwhile, Generation Z (born between 1997 and 2012) is emerging as South Africa's most financially optimistic demographic. Although relatively new to credit markets, this group is quickly gaining confidence. Only 4% of Gen Z users currently spend more than half their income on debt, and their low entry point into over-indebtedness positions them well for long-term success, provided they maintain healthy financial habits. Importantly, Gen Z is showing high levels of digital financial literacy and openness to financial education. Credit guidance engagements are increasingly being adopted by this group, with early interventions focusing on how to build credit responsibly and avoid common pitfalls. 'Gen Z is demonstrating a remarkable willingness to learn. They're leveraging digital tools, engaging in money conversations early, and showing real promise when it comes to building credit confidence. We're seeing the early signs of a generation that could change the trajectory of South Africa's credit culture," says Darko. PERSONAL FINANCE
The Citizen
3 days ago
- Business
- The Citizen
Only 8% of women are confident about retirement
Employers, trustees and policymakers must work together to ensure than women can save more to be more confident about retirement. In an age where women should be equal to men in every way, women are still far behind men when it comes to being confident about retirement. New research from Sanlam Corporate reveals a sobering reality: only 8% of female retirement fund members feel very confident that they will be able to retire comfortably. According to the Sanlam Benchmark 2025 Consumer Study, nearly half (46%) of women believe they will never save enough to retire, while just 33% feel financially secure about their future, compared to 51% of men. 'This is not just a research finding but a quiet crisis,' Oletilwe Ramashala, head of business development and strategic partnerships at Sanlam Corporate, says. 'It reflects a deep and persistent anxiety that many women live with every day and it is driven by structural, economic and social inequalities that women did not create.' ALSO READ: Poor financial literacy about retirement costing SA and consumers millions Why do women fall behind in retirement savings? Sanlam's research identifies these key reasons why women continue to fall behind in retirement savings: Interrupted careers due to maternity leave and caregiving responsibilities; Lower lifetime earnings, driven by persistent gender pay gaps; Over-representation in part-time or informal work, often with limited benefits; Prioritising family needs over personal financial goals; Limited access to financial advice, due to time constraints or lack of confidence. 'These are deeply human, compassionate choices women make when stepping up for their families and communities, but they often come at a long-term cost to their financial security.' Ramashala believes it is time for a shift from awareness to action and agency. 'We must empower women to start saving earlier, engage with advice confidently and make small but consistent decisions that protect their future selves. The tools are there. What we need now is support and partnership.' ALSO READ: South Africa's retirement time bomb is ticking… What can make women save more to feel confident about retirement? Sanlam Corporate calls on employers, trustees and policymakers to double down on their commitment to women's financial wellbeing and offer: Flexible, well-governed umbrella fund solutions Group risk cover to protect families from unforeseen events Health care solutions that support mental and physical wellbeing Personalised, data-driven engagement tools such as the Age of Confidence calculator and behavioural nudges to drive action. 'We must move beyond viewing retirement as a technical conversation. It is a human one about dignity, freedom and choice. Empowering women to take meaningful steps for their retirement early and with a long-term vision will give them greater confidence to retire comfortably. 'To every woman reading this: your future is worth investing in. You deserve a retirement marked by peace of mind, not worry. It is never too early or too late to begin.' Ramashala also urgers employers and trustees to remember that the women in their workforce are not just employees but pillars of their communities, caregivers and leaders. When women retire well, society rises with them.'
The Citizen
3 days ago
- General
- The Citizen
Mbombela-instrukteur eers 10 uur ná ongeluk opgespoor
Jana Boshoff Jana works as a senior support specialist for Caxton digital. Before that she was a journalist at the Middelburg Observer 15 years where she won numerous awards including Sanlam's Up and Coming Journalist, Caxton Multimedia Journalist of the Year, and several investigative awards. She is passionate about people and the stories untold.
Yahoo
19-07-2025
- Business
- Yahoo
How I'm positioning my SIPP for the AI revolution
I reckon artificial intelligence (AI) is a 10-year investment theme at a minimum. Realistically, this technology – which is still in its infancy – is going to disrupt just about every industry in the world, from investing to plumbing. Now as a long-term investor, I want to capitalise on this megatrend. With that in mind, here's how I'm positioning my Self-Invested Personal Pension (SIPP) for the AI era. Diversified exposure to the theme Within my SIPP today, I have quite a few different AI investments. Funds provide me with diversified exposure to the industry while individual stocks give me more targeted exposure. In terms of funds, I've got a decent-sized holding in the Sanlam Global Artificial intelligence fund. A 'pure play' on AI, this aims to invest in both companies offering related solutions and businesses that are likely to benefit from the technology. Top holdings currently include Nvidia, Microsoft, Amazon, and Meta Platforms. These are all major players in the AI revolution. I've also got a solid position in the Scottish Mortgage Investment Trust. This is an investment trust with a disruptive growth focus and it offers exposure to quite a lot of AI-related businesses. Currently, top holdings include Amazon, Meta, and Taiwan Semiconductor Manufacturing Co (TSMC). This trust also gives me exposure to some private companies in the space such as Databricks and Bytedance. Additionally, I've got an investment in the Blue Whale Growth fund. This is a broader growth fund but it still provides plenty of exposure to the theme. For example, at the end of June, top holdings included Nvidia, Broadcom, and TSMCi. I'm confident that if AI continues to offer opportunities, Blue Whale will be well positioned to capitalise on them. My AI stocks Zooming in on my individual stocks, I've mainly invested in mega-cap AI stocks within my SIPP. My logic here is that these are a bit less risky than smaller tech companies (I don't want to blow up my retirement portfolio). Microsoft is one key position for me. As one of the world's largest cloud computing companies, I think it's well positioned to spearhead the AI revolution. Nvidia is another. Its high-powered computer chips are what are powering the AI boom today. I've also got a chunky position in Alphabet (NASDAQ: GOOG). The owner of Google, it's a diversified tech company with a substantial cloud division. A lot of people believe that this company will be disrupted by AI. And I tend to agree – the way we are searching for information is changing rapidly. However, I think that Alphabet has the ability to navigate the changing search landscape and prosper in the long run. Not only does it have its own generative AI technology (Gemini) but it also has AI mode on Google, AI services across its cloud division, self-driving taxis, and more. Meanwhile, I don't expect Google search to die instantly. There will be plenty of people who continue to use this to get around the web and shop online in the years ahead. It's worth noting that this stock trades at an attractive valuation today. Currently, the forward-looking price-to-earnings (P/E) ratio is only 19. I think it's worth considering at that valuation. Business model disruption is a risk, as I said, but all things considered, I see a lot of investment potential. The post How I'm positioning my SIPP for the AI revolution appeared first on The Motley Fool UK. More reading 5 Stocks For Trying To Build Wealth After 50 One Top Growth Stock from the Motley Fool Edward Sheldon has positions in Alphabet, Amazon, Microsoft, Nvidia, Scottish Mortgage Investment Trust, Blue Whale Growth fund, and Sanlam Global Artificial Intelligence. John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool's board of expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Motley Fool UK 2025 Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Morocco World
18-07-2025
- Health
- Morocco World
Sanlam Launches Morocco's First Pet Health Insurance for Cats and Dogs
Marrakech – In a country where pet ownership is steadily growing and vet bills are climbing just as fast, Sanlam Maroc has unveiled a national first: Assur'Chien & Chat — the first health insurance policy dedicated entirely to cats and dogs in Morocco. Whether it's an unexpected surgery or routine vaccinations, pet owners can now breathe easier. The policy, open to animals aged between three months and 15 years, covers a wide range of veterinary expenses — from medical consultations and surgical procedures to hospital stays, lab tests, medications, and even preventive care like vaccines and deworming. It's a comprehensive offer that comes in three tailored plans: Essentiel, Confort, and Premium, each offering different levels of reimbursement. But the coverage doesn't stop there. In case of a pet's death, Sanlam offers a capped compensation payout based on the plan and the animal covered — a delicate but pragmatic touch in a market where the emotional and financial value of pets is increasingly recognized. Subscription is fully digital and accessible either through the insurer's website or via its nationwide network of intermediaries. The launch is a timely one. With rising awareness about animal welfare and the growing financial burden of vet visits, Moroccan pet owners are now looking for real solutions — and Sanlam, it seems, has just offered one.
