Standard Bank as the the proud sponsor of the Men’s Proteas team in all three formats of the game, ODI, T20, Test, is excited to join forces with Cricket South Africa in support of the team’s campaign in raising funds and driving awareness for the breast cancer.
PINK DAY taking place on the 10th February 2017, is about celebrating human spirit to overcome breast cancer and supporting those individuals who have been diagnosed. Survivors, friends, families and cricket fans will #PitchUpInPink at the Bidvest Wanderers Stadium, on Saturday the 10th February 2018 for the One Day International 2017/18 - ODI South Africa vs. India. The game will commence at 13:00, where Standard Bank will donate R10000.00 (ten thousand rands) towards the Breast Cancer Unit at the Charlotte Maxeke Johannesburg Academic Hospital for every wicket taken by the Standard Bank Proteas.
On the day there will be activations by Standard Bank and other sponsors, and Standard Bank invites fans attending the match to participate in the most fun full pink Facebook Filter. The Filter will allow fans to take a selfie of themselves dressed in a Pink Proteas kit, and can either save or share the photo on social media using the #PitchUpInPink hashtag in support of the Pink Day initiative and to those who have suffered breast cancer. This is the most unique initiative aimed at assisting to raise awareness and funding to fight breast cancer.
For more details on the Facebook Filter (Pink Standard Bank Proteas kit), Click here.
At Standard Bank, we're continually investing in, enhancing and working to maintain our systems in order to meet the ever-changing needs of our customers.
For this reason, we’ve scheduled system downtime for 19:00pm on Sunday 11 February until 02:00a.m. on Monday 12 February. Though you'll still be able to use your Standard Bank credit cards to make in-store or online purchases, the following services will be disrupted:
We know this service disruption will be inconvenient for you, but it is necessary to keep our system performing at its efficient best. To ensure your daily life isn't too disrupted by the downtime, consider the following:
If you have any questions, please call the Standard Bank Call Centre on 0860 123 000.
In December 2017, Aretshepane Burial Society in Tembisa was selected as the winner of Standard Bank’s Savers’ Draw Competition and awarded R50 000. Why? Because we’re not only focused on our bottom line, but also our role in bettering society. Since 2017, we’ve been celebrating and rewarding society schemes - or stokvels throughout the country that maintain a healthy account balance.
Mike Ramolahlehi, Manager: Savings Portfolio (PBB) at Standard Bank, believes South Africa’s economic success depends, to a large extent, on the nation’s saving and investment practices.
This is why the bank invests in all communities in a customer-centric fashion, creating financial solutions that are easy to understand and use, and are geared towards getting our customers to their ‘nexts’.
Stokvels have always been a popular method of saving among South Africans living in townships and rural areas, often coming to the rescue when unforeseen financial challenges arise. As the bank that drives Africa’s growth, we’re committed to empowering township economies by cultivating a savings culture within the stokvels market; we launched the Society Schemes Savers’ Draw Competition to encourage savings. Every month, a group account is selected and awarded R5 000 for maintaining a healthy account balance. Once a year, an extremely lucky society scheme wins R50 000 for the same reason.
Africans have always had a solutions-driven culture. Now that stokvels have been formalised and made mainstream with a variety of bank products, more and more people, even in “poverty-stricken communities” are contributing positively towards the development of township economies, thus invigorating the market and making a sound and meaningful contribution to the greater South African economy.
“Over the years, we have learnt that the practice of saving and investing is a means of empowering ourselves as women,” says Lisbeth Motseo from December’s winning society scheme; Aretshepane Burial Society has 16 committed members and was established only two years ago. “Our stokvel has served as a reminder that together we can achieve what we cannot always achieve alone.”
Throughout this year, Standard Bank will continue investing in communities, moving Africa forward.
For more information on Standard Bank’s Society Scheme service offering, visit our website.
Climate change comprises a number of devastating consequences. One of these is desertification, the expansion of desert areas to the detriment of plants, animals and people. This is occurring throughout the world, but Africa is in the early stages of a brilliant solution to fight back – the Great Green Wall.
Led by the African Union (AU), the Great Green Wall is a 20-country strong initiative to transform the lives of those living in regions on the frontline of climate change by providing greater food security, employment opportunities and regional stability in the face of persistent drought, increasing lack of resources and mass migration to Europe. An 8 000km band of green and productive landscapes is being created across North Africa, the Horn and the Sahel, the southern edge of the Sahara desert and one of the poorest places on earth.
The idea of a Great Green Wall is an old one: in 1952, English forester Richard St Barbe suggested a 50km-wide “green front” of trees to contain the spread of the Sahara. From the seventies, droughts in the Horn of Africa and Sahel invigorated this idea, but it was the AU, in 2007, that approved the Great Green Wall in its current incarnation – one that involves productive land as well as indigenous plants.
According to the project’s website, the Great Green Wall has achieved marked success to date. It’s “growing” fertile land; food security; green jobs and, so, providing income to families and a reason to stay for thousands who would otherwise leave for Europe; and economic opportunities for commercial enterprises. Progress has also been made on several other fronts. According to Elvis Paul Tangam, AU Commissioner for the Sahara and Sahel Great Green Wall Initiative, the greatest achievement is that those in the regions the wall covers have accepted working together for a common goal.
Tangam points out that there has been success on the ground: about 15% of the actual “wall of trees” is already planted. In Senegal, for instance, more than 27 000ha of indigenous trees have been planted. These don’t need watering, and they have resulted in the return of many animals that have not been seen for decades. In Mauritania, Chad and Nigeria, market gardens and small farms have taken root, giving the young population work. However, it will be a few years before these interventions are self-sustaining, but they also need to be profitable (selling to both national and international clients) and they are nowhere close.
Though the project faces its share of challenges, the Great Green Wall’s successes, so far, outweigh them. It also doesn’t need to be said that abandoning the initiative is simply not an option if Africa is to withstand climate change and continue its development.
“The Great Green Wall is about development; it’s about sustainable, climate-smart development at all levels,” explains Tangam.
Once complete, Africa’s Great Green Wall will be a living symbol to human resilience and a natural Wonder of the World.
Africa could reach much greater levels of prosperity and development through deeper trade integration. Many economic experts have detailed strategies to achieve more robust intra-African trade, one of the most practical being to encourage the continent’s consumers to “buy local” – that is, to buy products and services created in their own or neighbouring countries.
In 2017, official statistics put intra-African trade at 13% of the content’s total trade. This was noted as “abysmally low”, and higher trade volumes are essential if African nations are to experience shared macro-economic benefits such as exposure to bigger markets, new opportunities and a larger pool of capital for businesses. Consumers should be able to look forward to buying from a wider variety of products and services at relatively lower costs.
To encourage consumers to buy local (or buy African) more often, it may be worth pointing out that this practice helps address multiple economic problems: research shows that there is a direct link between what consumers spend money on and employment, local economic development and prosperity. For example, an economic impact study conducted by the Pan African Research Services in 2012 found that an investment of just R1 in local manufacturing resulted in a R1.13 increase in gross domestic product, an increase of R0.13 in export receipts and R0.35 in fiscal revenue.
So, if choosing to buy African products in Africa supports entrepreneurs (while encouraging the development of more), creates employment opportunities and stimulates economies, why don’t more people do it? The answer is that many people don’t realise the impact of their purchasing choices, and that foreign goods come with their own set of appeals.
Many foreign-made products have the draw card of a good reputation; people trust what they’re buying. Also, international brands signal wealth and status, especially in countries with high poverty levels. Exclusivity is another lure; the harder something is to obtain – the more expensive or unique, the people want it. It’s no surprise that limited-edition versions of a product create a strong desire to own it, especially among the middle class and the wealthy.
Though international brands will always be popular on the continent, recent research suggests that Africans don’t need much convincing to buy from their own. A 2017 mobile-based GeoPoll survey that focused on spending habits and economic perceptions in Kenya, Nigeria and South Africa showed that the majority of respondents in all countries preferred buying local: 58% in Kenya, 47% in Nigeria and 63% in South Africa.
As a financial institution focused on much more than just our bottom line, we’re on a journey with you to help you reach your ambitions – your Next . The next step on this quest is Your Next Million™, a TV gameshow that will air on SABC1 every Wednesday at 8:27 p.m. from 14 February to 25 April, giving Standard Bank Gold cardholders a chance to win up to R1 million every week.
Your Next Million™ follows a tried-and-tested game show format, but it does have a notable twist: questions are based on financial well-being, keeping in line with our goal to move South Africa forward.
Viewers are also sure to be drawn by the show’s hosts , Thembisa Mdoda and Mashabela Galane..
Best known as host of the sixth-season of Mzansi Magic’s Our Perfect Wedding, Thembisa is perfectly suited to be the gameshow presenter. With her gregarious style, she’ll guide contestants through each gameshow segment, while keeping the audience informed and entertained.
Mashabela, Comedian, winner of multiple awards and host of numerous prestigious events (including the 2017 SAMA pre-party), Mashabela is a non-negotiable for TV gold.
Your Next Million™ is broken into three segments: in round one, Fastest Finger, contestants are asked a single Standard Bank product-related question. The contestant with the fastest correct answer will go on to the next stage, a step closer to their R1 million “next”.
In the second segment, round one’s winner can “pay it forward” to a friend, family member or audience member using the Standard Bank App. The chosen beneficiary will receive R10 000 to activate their own “next”. Standard bank will also donate a further R50 000 to a registered NGO focused on early childhood development and schooling, thus helping young children reach their “next”, too.
The third segment is the moment of truth where the contestant will spin the wheel in the hope of winning R1miilion.
This game show is speciffically aimed at our gold customers and how we can help them reach their next no matter how big or small.
“The focus is not only on entertainment,” says Tinyiko Mageza, Head of Marketing, Retail and Business Banking at Standard Bank. “The educational aspect makes certain that the viewers benefit, as well as the contestants. Those who watch will realize that there are financial solutions out there that can help them reach their dreams.”
Qualifying to be on Your Next Million™ TV game show is easy, but exclusive to new and existing Standard Bank Gold Credit and Cheque cardholders. If would-like be a contestant but don’t have a Standard Bank Gold card yet , then apply at www.standardbank.co.za/whatsyournext or SMS million and your name to or visit any standard bank branch
The outcome if the ANC’s elective conference may have been a favourable one for the rand and market watchers but despite this, SA Inc isn’t out of the woods just yet.
Economically, this week we’re expecting an announcement from the SARB on Thursday. Bloomberg consensus is the rate is unlikely to be changed at 6.75%. Our economics team’s outlook for inflation for 2018 is mellow owing to a stronger rand and a positive agricultural outlook for the year. Consumer inflation is expected to average 4.4% this year.
The MPC’s Quarterly Projection Model forecasts a 75-basis point rate hike by the end of 2018. The underlying assumptions behind this forecast being the Bank will chase 4.5% inflation and a neutral real rate of 2.2%.
Despite these projections, our research team is of the view that the Bank will be hesitant to change rates ahead of the Budget Speech and Moody’s credit rating outcome. This is to avoid their decision colliding with the possibility that the aforementioned events may have a negative impact on the rand. Our team expects a 25bps rate cut for 2018.
On the rand front, our research team foresees sustained rand strength due to lower expectations from the global landscape. Capital flows into emerging markets are very likely to be robust. In South Africa, Cyril Ramaphosa stepping into the presidency has restored much needed confidence. The rand should be kept in the strong zone – but there are several risks worth keeping an eye on.
The first is a slowdown in growth for the Chinese market. Investors should also pay attention to US numbers, as higher inflation may mean central banks will be tinkering with monetary policy to keep inflation under control.
Domestically, there are factors that are likely to affect the current account – namely the implementation of President Zuma’s free education announcement made late last year. This is likely to be a key part of the budget speech. We’re yet to hear news of how, exactly, this is to be achieved.
That said, our global currency strategist’s forecasts for the dollar for 20018 tell of a weaker dollar over the next two years. This view is informed by the US move to protectionism, the new tax laws which will result in tax cuts and a subsequent widening of the budget and trade deficits.
The Euro is expected to go in the opposite direction as…
Given the context above, the rand is forecast to hit the R12.50/$ by the end of 2018 and R12.70/$ by the end of 2019. Against the pound, a slight decline to R17.50/£ by end 2018 and R19.30/£ by end 2019. The euro/ZAR will fall a bit more sharply to R16.25/ € by end 2018 and R17.17 € by end 2019.
For full research reports, visit www.standardbank.co.za/research