Inflation concerns return, while SA gets some good news, and there's plenty to look out for in the next two months.
It may be a tired expression to refer to 2024 as a roller coaster year, but it sums it up neatly.
Freelancers, gig workers, digital nomads - understanding your tax responsibilities is crucial to staying compliant and optimising earnings.
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Investec's culture enables extraordinary people to perform in Out of the Ordinary ways. Our people are at the heart of your service needs. We believe in forming life-long partnerships with you.
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Inside Investec
Investec's purpose and values
We are further driven by a commitment to our core values:
Deep client relationships, built on trust and Out of the Ordinary service, are the bedrock of our business. We uphold cast-iron integrity in all our dealings, consistently displaying moral strength.
We seek creative, talented people with passion, energy, and stamina who collaborate unselfishly. We thrive on challenge, and challenge the status quo with courage, constantly innovating and adapting to an evolving world.
We offer client service, not customer support – and create strategies and services designed around your needs and goals, not ours. We believe in open and honest dialogue to test decisions, seek consensus, and accept responsibility.
We trust our people to exercise their judgment, promoting entrepreneurial flair and freedom to operate with risk consciousness and unwavering adherence to our values.
We pursue diversity and strive to create and environment in which everyone can bring their whole selves. We show care for people, support our colleagues, and respect the dignity and worth of the individual.
We are committed to living in society, not off it, contributing meaningfully to the communities in which we operate. We embrace our responsibility to the environment and the well-being of our planet.
Corporate Structure
Investec has a Dual Listed Companies (DLC) structure
In November 2001, we received permission from the Minister of Finance and the South African Reserve Bank to establish a Dual Listed Companies (DLC) structure with linked companies listed in London and Johannesburg.
Investec recognised within top 100 sustainable companies
- Investec has ranked 52, up from 76 the previous year
- Investec has ranked as the most sustainable bank in South Africa in the Global 100 Index
- Investec has ranked as the second most sustainable bank globally in the Global 100 Index
Contributory to this ranking, we expanded our sustainability product offering during the past financial year with an increase in renewable energy investments. Further, we saw an improvement in our board diversity, with an increase in women on the board from 36% in ‘22 to 43% in ‘23 (as at 31 March 2023).
Development of a deposit insurance scheme for SA
What is Deposit Insurance?
The Corporation for Deposit Insurance (CODI) became a legal entity on 24 March 2023. CODI is a subsidiary of the South African Reserve Bank and the country's deposit insurance scheme. Until now, South Africa didn't have an explicit deposit insurance scheme, forcing Government to use taxpayers' money to compensate depositors or bail out a failing bank.
CODI will be funded by all banks, including commercial, mutual and corporative banks, as well as local branches of foreign banks that, by law, are members of CODI. This includes Investec Bank.
CODI came into effect in April 2024. Click here for more information, or download the CODI handbook.
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