FNB was announced as the SME Bank of the Year at the Global SME Finance Forum Virtual awards ceremony held on 27 October. The Global SME Finance Awards 2020 which are endorsed by the G20’s Global Partnership for Financial Inclusion (GPFI) were organised by IFC, a member of the World Bank Group and the SME Finance Forum. FNB was recognised amongst over 100 global participants for its digital innovation, exceptional products and services, as well as the unique and solution-focused … [Read more...] about The best SME Bank in the world
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Take advantage of free transactions offered by your bank
The COVID-19 global pandemic has left many South Africans anxious about their state of health as well as their financial security. Many South Africans have lost their jobs with some working on reduced hours, resulting in a reduction in household income. Chief Executive of FNB Easy, Philani Potwana, says to alleviate some of the financial pressures, consumers should fully utilise the free benefits they receive from their banks. These benefits could free up much needed cash in consumers’ … [Read more...] about Take advantage of free transactions offered by your bank
Old Age Home Relief Fund to help senior citizens impacted by COVID-19
FNB and Clicks have announced a special reward offer that sees senior customers earning double eBucks and double cashback from Clicks every Wednesday when they shop at Clicks. The benefit is available from 5 August 2020, exclusive to eBucks Rewards members and Clicks ClubCard members over the age of 60. Furthermore, FNB will also be contributing to efforts to lessen the impact of COVID-19 on seniors by setting up an Old Age Home Relief Fund for customers and staff to donate their eBucks … [Read more...] about Old Age Home Relief Fund to help senior citizens impacted by COVID-19
What you need to know about your power surge insurance cover ahead of load shedding
As the country enters the height of the winter season in July, the risk of load shedding interruptions as a result of the pressured electricity grid is also quite high. Identified by Google as South Africa’s most searched term in the past decade, load shedding continues to bring about a huge amount of frustration, inconvenience and increased short-term insurance risk for many South Africans. Through the introduction of various load shedding notification apps, people can now see load … [Read more...] about What you need to know about your power surge insurance cover ahead of load shedding
Property Activity Weakens Sharply
The FNB Commercial Property Broker Survey surveys a sample of commercial property brokers in and around the 6 major metros of South Africa, namely, City of Joburg and Ekurhuleni (Greater Johannesburg), Tshwane, Ethekwini, City of Cape Town and Nelson Mandela Bay. Given FNB Commercial Property Finance’s strong focus on the “Owner-Serviced” market, a pre-requisite in selecting broker respondents is that they at least deal in owner-serviced properties, but a portion will also have dealings in … [Read more...] about Property Activity Weakens Sharply
The first bank in South Africa to accept UnionPay Contactless Payment
First National Bank (FNB) and UnionPay International (UPI) jointly announced today that UnionPay cardholders will be able to make contactless payments with their cards via FNB Speedpoint® terminals at merchants in South Africa. FNB becomes the first bank in South Africa to accept contactless transactions made with UnionPay cards, providing customers with a safer and smoother payment experience. This acceptance partnership is one of the measures taken by UnionPay, the … [Read more...] about The first bank in South Africa to accept UnionPay Contactless Payment
42% Of Businesses not confident of continuing operations
A recent rapid response survey by Stats SA recently revealed that a staggering 42% of respondents were not confident of being able to continue operations post the COVID-19 outbreak. When asked how long business could continue without turnover, 54% indicated that they would only be able to survive between one to three months. “These statistics are a snapshot of a situation facing thousands of South African businesses today. With banking customers, ranging from start-up entrepreneurs to … [Read more...] about 42% Of Businesses not confident of continuing operations
More than 17 000 employees of small businesses to receive financial support
FNB has received an overwhelming number of applications for SAFT funding support from business clients that were impacted by COVID-19. The South African Future Trust (SAFT) fund was established by the Oppenheimer family to provide financial support to the employees of qualifying SMEs, FNB has been assisting SAFT as an agent to help deploy these funds. To date, approximately 2 300 businesses have been signed up for the funding scheme via FNB. These funds will enable 17 367 employees to … [Read more...] about More than 17 000 employees of small businesses to receive financial support
Retail Property’s “glory years” started somewhere back in the 1990s and ran until 2007
In a previous note, we indicated that, in the post-lockdown recessionary period we would likely see the direct economy-related pressures being more severe on the Industrial Property Sector, via the highly cyclical Manufacturing Sector along with economy-wide inventory decline, than on the Retail Property Sector, whose key economic driver, namely the Mainstream Retail Sector typically sees less of a decline in its GDP during a recession. However, that doesn’t mean that the Retail Property … [Read more...] about Retail Property’s “glory years” started somewhere back in the 1990s and ran until 2007
Office Property has been under pressure for some time, and this could mean more to come
It is fashionable to have an opinion on how the COVID-19 Crisis is “changing the world”. And forced lockdowns translating into remote working from home has put the spotlight on how the virus is changing the way we work. The truth is that the trend towards increased remote working has been in place for many years, and the COVID-19 Crisis is merely speeding up the process. In the process, Office Property has been under pressure for some time, and this could mean more to come, as many companies see … [Read more...] about Office Property has been under pressure for some time, and this could mean more to come
Severe recession in 2020 expected to have a severe impact on tenant payment performance
During the Corona Crisis-related lockdowns, many residential rental tenants would have seen their incomes decline sharply, and in certain instances even drop to zero. The official Coronavirus-related lockdowns add an “abnormal” component to the current recession, “normal” being where economic cyclical pressures such as the global economy or rising interest rates periodically drive the domestic economy into recession. However, there is a very “normal” component to this recession too, which was … [Read more...] about Severe recession in 2020 expected to have a severe impact on tenant payment performance
Climate change a risk to agricultural production
Climate change has presented additional risks to agricultural production and to farming enterprises. Increased weather variability has changed the production norms in agriculture, as a result it has had an impact on production plans and outcomes. We are faced with erratic rains, hail, unpredictable disease outbreaks and dry spells that affect the general performance of the sector. Farmers must be able to adjust in order to survive in this volatile environment as several studies forecast … [Read more...] about Climate change a risk to agricultural production
Initiative to help grow social entrepreneurs launched
FNB in collaboration with Fetola Business Growth Professionals today announced the launch of the ‘Social Entrepreneurship Impact Lab’, a SME development initiative to help grow social entrepreneurs in South Africa. This two-year programme will empower 25 existing ‘for profit’ businesses who already operate in the social entrepreneurship space and have genuine potential to scale. Entries for the ‘Social Entrepreneurship Impact Lab’ officially opened on 02 September 2019. Heather Lowe, Head … [Read more...] about Initiative to help grow social entrepreneurs launched
ReTweet IF you have a Cheque Book, in a drawer, at the back of your cupboard or even if you know what one looks like!
The advance in technology has rendered the use of a cheque as a payment method archaic. Cheques are an expensive form of payment and over time, have become most susceptible to fraudulent activity. To this end, there are far more effective means to transact that are not only safer but are far cheaper. Kenneth Matlhole at FNB Business says that much of the usage of cheques is largely driven by business-to-business transactions that are steeped in traditional process. “A large portion of … [Read more...] about ReTweet IF you have a Cheque Book, in a drawer, at the back of your cupboard or even if you know what one looks like!
Reasons why you could be struggling to save
Procrastinating to save can derail you from achieving your financial goals. People who have a healthy relationship with money understand that saving has very little to do with the size of your bank account, it all depends on your relationship with money. Eunice Sibiya, Head of Consumer Education at FNB, says “Most people would like to save because they understand the financial benefits of having a safety net. However, saving usually takes the back seat simply because of the hesitation to … [Read more...] about Reasons why you could be struggling to save
