Latest news with #SouthAfrican
IOL News
36 minutes ago
- Automotive
- IOL News
Point of view: Santam's 2025 Insurance Barometer exposes rising risks across SA
Santam's 2025 Insurance Barometer reveals critical insights into the rising risks faced by South African households and businesses, highlighting economic pressures, infrastructure challenges, and the impact of climate change on the insurance landscape. Image: Freepik South Africa's short-term insurer, Santam, has released its 2025 Insurance Barometer, which paints a sobering picture of the risks confronting local households and businesses. Economic strain, infrastructure decay, crime, and increasingly erratic weather patterns tied to climate change have emerged as key concerns. Now in its fourth edition, the biennial report offers a detailed pulse check on global and local risk trends. Drawing insights from nearly 900 consumers, businesses, and brokers across the country, the report captures shifts in public perception alongside expert industry analysis. Atang Matebesi, CEO of Santam client solutions, said the short-term insurance sector must remain agile. 'Once again, weather volatility, infrastructure concerns, and socio-economic challenges have created a tough environment for local insurers. This has been exacerbated by ongoing geopolitical turmoil... threatening the affordability of the Motor and Heavy Haulage classes of insurance.' Matebesi noted a concerning development: 'A trend is emerging where vehicles that normally wouldn't be written off are being declared total losses because repair costs have skyrocketed due to costly imported parts affected by the geopolitical environment.' Balancing premiums while ensuring sustainable underwriting practices is an ongoing challenge. 'The industry has the unenviable task of balancing premium rates with sustainable underwriting practices and risk mitigation measures to ensure a sustainable insurance sector... thus also contributing to national economic growth,' Matebesi added. Claims trends and consumer pressures The Barometer reveals that Santam's MTN portfolio saw a spike in claims for stolen mobile devices, tablets, and laptops, largely due to petty theft and muggings in shopping malls. Motor insurance remains the main contributor to claims in both personal and commercial lines. While strategic underwriting has brought some relief, collision-related claims have surged as road traffic returns to pre-pandemic levels. 'This is largely due to road usage in South Africa returning to pre-COVID levels, driven by many companies reinstating five-day office attendance policies,' explained Matebesi. Infrastructure degradation is also playing a role, particularly road conditions. 'Potholes causing loss or damage to vehicles' have hit all sectors, including agriculture and heavy haulage, particularly hard. An emerging issue flagged in the report is the phasing out of 2G and 3G networks, which support many alarm systems and vehicle tracking devices. 'Close collaboration between insurers, insureds, and telecoms services providers is necessary... There is anecdotal evidence of the potential impact on property owners with those who have already had their alarms 'switched off' falling victim to crime,' Matebesi warned. The cost-of-living crunch Rising living costs are reshaping consumer behaviour: 40% have cut back on non-essential spending 27% have reduced essential monthly expenses 21% have tapped into savings Many South Africans are also changing their lifestyles: 38% now spend less on entertainment and eating out 23% have stopped going on holiday 19% drive less 14% opt for public transport or taxis more often 13% cancelled DSTV Some households have turned to borrowing: 7% took personal loans 9% borrowed from friends or family 15% invested in alternative energy to reduce electricity costs Business realities and risk gaps For corporate and commercial entities, theft remains the top worry, though concern has declined over five years. 'Persistent economic malaise remains a top concern for businesses at 19%. Interestingly, growing concerns over operational costs have emerged... likely related to economic pressures,' Matebesi said. A surprising disconnect was noted regarding business interruption (BI) cover. Despite ranking high on global risk indices, only 7% of local commercial respondents prioritised BI. 'The lack of emphasis placed on loss of profits is concerning; we believe business interruption is a massively underestimated risk,' Matebesi warned. Currency fluctuations made a noticeable jump, up 10%, amid global policy shifts and local political uncertainty, particularly around the Government of National Unity (GNU) budget delays. One bright spot came from the power front: South Africa marked 300 days without loadshedding in 2024. This led to a significant drop in power surge claims, thanks to improved grid stability and underwriting action. Climate risk remains entrenched, especially in agriculture. 'The agriculture sector is disproportionately concerned about climate risk,' Matebesi noted. Commercial claims linked to storms and flooding were up 5%, worsened by poor infrastructure and town planning. Top ten business risks in 2025: Theft (21%) Machinery/system breakdown (20%) Economic downturn (19%) Loadshedding/power surge (18%) Loss of profits (18%) Currency fluctuations (18%) Fires (16%) Climate change (16%) Staffing issues (14%) Crime (14%) Brokers evolve their role Brokers remain essential in risk mitigation. Most conduct home or site visits (72%) and communicate risk management tools via email or SMS (63%). Yet, one in three still finds coverage communication confusing. More brokers now prioritise affordability, 34% cite price as the top factor in choosing an insurer, followed closely by service excellence and claims reliability. Encouragingly, eight in ten intermediaries remain confident about business prospects in the year ahead, the data shows. * Maleke is the editor of Personal Finance. PERSONAL FINANCE
The Citizen
42 minutes ago
- Politics
- The Citizen
SA not ready for fallout if Israel-Iran ceasefire fails, warns UJ professor
As the ceasefire between Iran and Israel holds, the world watches with bated breath to see what will happen next between the two regional powers. To gain insight into the situation, Caxton Local Media spoke to Dr Suzy Graham, professor in the Department of Politics and International Relations at the University of Johannesburg. Discussing the ceasefire, Graham explained that although it is still early days, the truce holds real potential, though it remains inherently fragile. 'Its longevity hinges on disciplined diplomacy, credible inspections, and political will from all actors. If any of these break down, especially due to hardliners or indirect aggression via proxies, the truce could unravel quickly,' she said. For now, however, the signs are cautiously optimistic. A ceasefire on edge: What's holding it together? Graham believes the ceasefire was primarily driven by a rapid cycle of escalation and daring diplomacy aimed at avoiding further catastrophic conflict. Although the ceasefire appears to be working, she warned that initial breaches from either side could lead to its deterioration. She described the thought of a third world war as unthinkable. 'Despite social media speculation, the probability of a full-scale World War III remains low, but not zero,' Graham said. South Africa's position: Legal, vocal, and diplomatic Speaking about South Africa's stance on the Israel-Iran conflict and how it aligns with the country's broader foreign policy, Graham said South Africa will almost always call for dialogue in any conflict situation. 'The South African government has been vocal in strongly condemning the recent military strikes on Iran, describing the attacks as violations of international law. It has urged all parties, Iran, Israel, and the USA, to engage in UN-led dialogue, emphasising diplomacy, restraint, and nuclear inspection,' she explained. Regarding the potential impact on South Africa if the conflict reignites and becomes a wider regional crisis, Graham said the country would likely continue championing international law, human rights, and nuclear non-proliferation. She noted that South Africa could strengthen its moral leadership among Global South and Muslim-majority countries. 'At the same time, the country could face intense backlash from Israel and Western allies, particularly the USA, Germany, and the UK, especially if Pretoria doubles down on its International Court of Justice genocide case or calls for sanctions. 'South Africa could see reduced goodwill from Western investors or governments, especially if tensions rise over its international legal campaigns or alignment with Iran.' 'In the immediate term, South Africa would likely call for a ceasefire, condemn aggression, and activate international and legal channels. In the short term, it might push for UN and BRICS statements and engage the African Union and Global South partners. 'In the mid-term, it would need to manage economic fallout, reinforce public diplomacy, and maintain BRICS plus solidarity. In the longer term, South Africa could use the crisis to push for UN Security Council reform, nuclear disarmament, and multipolar global governance.' Graham emphasised that if South Africa is drawn into the conflict, its role would be principled, vocal, and legalistic, not military. 'It may be drawn in politically, but not militarily,' she said. 'The country's focus would remain on shaping the normative global order, not engaging in hard power projection.' What escalation could mean for South Africa Although South Africa would not be militarily involved, Graham said a wider Middle East conflict would hit its economy hard, particularly through rising fuel prices, increased trade costs, and inflation. 'An escalation in the Israel-Iran conflict could seriously disrupt global oil flows, and South Africa, as an energy-importing nation, would feel the effects quickly and deeply. 'The country's inflation rate, currency, fiscal stability, and household livelihoods would all come under pressure.' When asked if South Africa is prepared for possible knock-on effects of war, such as cyberattacks or disruptions in trade, Graham said the country is not fully ready for the complex and interconnected consequences of a major regional war involving Iran and Israel. 'While it has some institutional frameworks and economic policy tools, South Africa lacks a coordinated national resilience strategy, particularly for cyber threats and maritime trade disruptions. 'A greater focus on strategic planning, inter-agency coordination, and public-private resilience building is urgently needed.' Breaking news at your fingertips… Follow Caxton Network News on Facebook and join our WhatsApp channel. Nuus wat saakmaak. Volg Caxton Netwerk-nuus op Facebook en sluit aan by ons WhatsApp-kanaal. Read original story on At Caxton, we employ humans to generate daily fresh news, not AI intervention. Happy reading!
TimesLIVE
43 minutes ago
- Business
- TimesLIVE
More visa officials to clear SA-Ireland applications backlog
The Republic of Ireland has increased the number of officials processing visa applications from South Africans seeking to visit or work in that country, as it moves to clear a backlog caused by a huge spike in visa applications. Neale Richmond, minister of state for international development and diaspora, said the decision to impose strict visa conditions was taken over a year ago when the country experienced a 100% increase in people entering the island nation from South Africa and Nigeria and claiming international protected status. 'That's why we put them on the list of those who require visas, to stop people who were coming because it was visa-free travel. They were getting here claiming international protection,' Richmond said on the sidelines of the Africa-Ireland Horizons conference in Dublin. The imposition of the strict visa regime resulted in applications for work, family and travel visas taking months to process as the government agency responsible could not cope with the many applications. 'Those moves were very harsh, but they were necessary at the time to re-regulate migration,' Richmond said. 'I have quite a large South African minority population in my constituency who've been here a long time; they have been here 20 to 25 years, they are Irish citizens, but Granny can't come and visit the new child, business partners can't come. The head of Nandos lives in my constituency ... It's had very real human consequences; it's been tough.' A decision was taken to triple the number of officials processing visas from South Africa and this had brought the waiting time down to three months, he said. 'We've doubled the resources in terms of visa applications in South Africa, both here in Dublin and at our embassy in Pretoria. The acute issue was far more (serious) in South Africa than Nigeria; not only for established commercial reasons but also for very clear people-to-people reasons. The process will now go much quicker but will always be under review.' The country is prioritising South Africans for critical skills visas, he added.
The South African
an hour ago
- Sport
- The South African
Orlando Pirates: Special meeting for eight new players
Orlando Pirates, a Leading Betway Premiership club, sealed eight new signings this week. The list includes Sipho Mbule, Yanela Mbuthuma, Masindi Nemtajela, Tshepang Moremi, Nkosikhona Ndaba, Sinoxolo Kwayiba, Tshepo Mashiloane, and Sihle Nduli. Instead of gradual reports to prolong media coverage, the Sea Robbers first announced Mbule and then seven players within 24 hours. Meanwhile, the club facilitated a special meeting for the new Orlando Pirates footballers. Jessica Motaung talks about Kaizer Chiefs money Dr Irvin Khoza at an Orlando Pirates conference in Parktown, Johannesburg. Image: @orlandopirates/X Former club leaders Tebogo Moloi, Lucky Lekgwathi, Happy Jele, Edward Motale, and Innocent Maela made themselves available to address the newbies on what to expect at the mighty Orlando Pirates. Orlando Pirates legend sends a serious message to Sipho Mbule 'We were inducting our new players to give them a proper understanding of what to expect,' club legend Moloi told KickOff . 'We emphasised that their lives, as well as those of their immediate family members, changed the moment they signed with the club. 'Once you make the spiritual owners happy, you're set for life. Even after hanging up your boots, they will still be there for you. 'Nobody understands this better than I do. I started my journey with Orlando Pirates since I joined in 1987 and how I witnessed Dr. Irvin Khoza take over the team in 1992,' Moloi added. 'Playing for Orlando Pirates is akin to playing for South Africa. Every day, you are under the microscope. The important aspect of the induction is to guide them on how to behave off the pitch as a Orlando Pirates player. 'They were recruited with this understanding. We encouraged them to make history, just like the group of players we signed from a relegated Jomo Cosmos who went on to become CAF Champions League and AFCON champions. We urged them to dream big,' the former midfielder maestro concluded. Let us know by leaving a comment below, or send a WhatsApp to 060 011 021 1 Subscribe to The South African website's newsletters and follow us on WhatsApp, Facebook, X and Bluesky for the latest news.
The South African
an hour ago
- Entertainment
- The South African
Carte Blanche: Fake injectors
On Sunday, 29 June, the episode of Carte Blanche investigates the rise of fake cosmetic injectors operating in an unregulated and dangerous underground industry. In a society increasingly driven by the pursuit of flawless skin, unlicensed individuals with no medical training or oversight are administering fillers and Botox, putting countless lives at risk. These procedures, widely promoted across social media, have become part of a booming, illegal market where profit often takes precedence over safety. The exposé raises a critical question: What is the real price people pay, physically and emotionally, for cheap beauty enhancements? Carte Blanche is a South African investigative journalism television series that airs on M-Net every Sunday at 19:00. Its first episode aired on 21 August 1988 and over the last 34-plus years has earned credibility among South African viewers for its investigation into corruption, consumer issues, and current events. Follow The South African website on Facebook, Instagram, and TikTok. Get everything you need to know on the go at your convenience! Stay in touch by clicking on the comment tab below this article or by sending and email to info@ or a WhatsApp to 060 011 021 1
