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The JSE Investment and Finance Forum
Platinum Wealth is a leading financial forum with an eye on the future of our country and the citizens of South Africa. Even though the era of trading exclusively with physical goods is in the distant past, we as a civilization have always looked for new ways to prosper. Simply put, ways to get a better deal. To have more, for less. At Platinum Wealth we have created a bigger platform for you to do exactly that - a connected network of your peers giving the tips and tricks that have helped them reach their financial and investment goals.
From personal finance and creating wealth, to financial news and small business, we cover it all at Platinum Wealth. Pose your money and investment questions in our money and investment forums, we'll make sure they get answered. We want to guide a new generation of money conscious readers. We are here to share tips and practical knowledge that will help you live large without sacrificing your financial independence.
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About Us
The mission of Platinum Wealth is to create an Investor Culture in South Africa by equipping fellow South Africans with the knowledge and means to invest for their future today; taking control of their money and enabling a life full of wealth and prosperity. We work closely with Finance companies to ensure relevant, up to date content and answers are always available. We are proudly South African, presented by South Africans for South Africans. Be part of our Finance and Investment Forum it costs nothing and the returns last a lifetime.
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President Cyril Ramaphosa has called on US businesses to deepen their investment ties with South Africa, highlighting the country's renewed focus on economic recovery and structural reform. Speaking at the SA-US Interactive Business Forum in New York on Monday, the President emphasised the progress made under South Africa's Government of National Unity (GNU) and the vast opportunities available to foreign investors. He said this is a “timely intervention”, referencing his first visit to the US since South Africa's general elections in May, which led to a coalition government of political parties committed to inclusive growth and job creation. Read the full article here: https://www.sanews.gov.za/south-africa/president-ramaphosa-urges-us-business-invest-sas-growing-economy -
By Platinum Wealth · Posted
Justice Minister Thembi Simelane is facing scrutiny over a questionable R575,600 "loan agreement" from 2016, linked to VBS bank corruption. The loan, provided by Ralliom Razwinane's company Gundo Wealth Solutions, appears to have been backdated, with suspicious contradictions in payment dates and inconsistencies in the document. Simelane allegedly used the loan to purchase a coffee shop while serving as mayor of Polokwane, but the timeline and terms of the agreement suggest it may have been faked after the fact. Simelane repaid the loan years later, coincidentally on the same day the Limpopo Treasury demanded answers about a corruption report. Despite multiple requests, she has not provided proof of repayment, fueling further doubts. Full article on Daily Maverick: https://www.dailymaverick.co.za/article/2024-09-30-simelane-and-vbs-loan-agreement-for-coffee-shop-likely-backdated/ -
By Platinum Wealth · Posted
South African fuel prices will drop to their lowest level since February 2022 on 2 October 2024, with the price of 95-octane petrol in Gauteng falling to R21.05 per litre—18% lower than a year ago. Diesel prices will also see a 26% decrease. This reduction, driven by lower international oil prices and a stronger rand, is expected to ease inflation pressures, as fuel directly influences 5% of the inflation basket and indirectly affects most consumer goods. Annual inflation, which slowed to 4.4% in August, may fall further, supporting consumer spending and economic recovery. Read more on Moneyweb: https://www.moneyweb.co.za/news/economy/fuel-price-drop-to-2022-low-to-ease-cpi-outlook/ -
By Platinum Wealth · Posted
Spar has made progress in stabilizing its SAP ERP implementation, which initially caused significant disruptions and losses, particularly at the KwaZulu-Natal (KZN) distribution center. The botched rollout led to a R1.6 billion loss in group turnover and an operational impact of R720 million in lost profit for the region. Spar has since improved its ERP system, particularly at the KZN facility, and is planning a broader rollout to other distribution centers in 2025. Despite weaker-than-expected sales, total sales grew by 3.5%, with liquor sales performing exceptionally well. The company also reported progress in selling its Polish business and is aiming for a 3% operating profit margin by 2026. Read more here: https://www.itweb.co.za/article/spar-upgrades-botched-sap-system-after-r16bn-loss/rxP3jMBEBJp7A2ye -
Most readers would already be aware that Blue Label Telecoms' (JSE:BLU) stock increased significantly by 25% over the past three months. Given that stock prices are usually aligned with a company's financial performance in the long-term, we decided to study its financial indicators more closely to see if they had a hand to play in the recent price move. Particularly, we will be paying attention to Blue Label Telecoms' ROE today. Return on Equity or ROE is a test of how effectively a company is growing its value and managing investors’ money. Put another way, it reveals the company's success at turning shareholder investments into profits. Read the full article here: https://finance.yahoo.com/news/blue-label-telecoms-limiteds-jse-111047392.html?guccounter=1
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