SASSA 

There have been several challenges in the SASSA market in recent months. 
Due to the uncertainty we have regrettably suspended our services to our SASSA clients until positive resolution is met with the SASSA service providers. We value your support and will assist you once there is further clarity.
 

BEWARE OF THE FOLLOWING SCAMS!

  • Old Mutual loans: 

This money scheme targets black-listed consumers under the pretext of being Old Mutual. The scheme offers clients loans from R20 000 to R20m, at a fixed interest rate of 5%. There are no credit checks. A person who goes by the name of Melissa Green, poses as a loan applicant consultant, who is also part of the marketing and sales team. 

  • Stream Knowledge Finance

This money scheme claims to help blacklisted consumers acquire loans between R10000 and R30m at a fixed rate of 5%. Loans are granted between 24 and 48 hours. It also offers loans in pounds and dollars. A catch is that the financial service offers the number for their registration with the National Credit regulator (NCR). 

  • Naspers share trades 

In November, Naspers issued a fraud alert to warn South Africans of a scam promising  high returns on share trades made on their behalf. The scam promises 100% return on investment within an hour. People are required to make a deposit in a third party account. Once the transfer is made, the funds disappear. 

  • Post Office winnings scam

This is a version of a 419 scam. People receive a sealed package with a certificate claiming that a large deposit has been made in a Postbank account. To activate the account to claim winnings, the victim must pay a certain amount of cash into another account. 

  • Sars small business scam 

Scamsters posing as the South African Revenue Service (Sars) approach small business enterprises and demand outstanding payments or undeclared taxes. They also demand money to wipe off debts. 

Excerpt from Fin24:

When it comes to financial management, women are known for being risk averse and for choosing investments that are “secure” and “comfortable”. However, there’s a growing number of women who are choosing to invest in stocks which yield higher returns to sustain their lives. 

Over the past few years women have been playing a bigger and more prominent role in business and their earnings are increasing, which is contributing to their empowerment. .......

Men, at the outset, are more aggressive investors and want to start building up a share portfolio. Women however start with a savings account at a bank which would progress into a pension or retirement fund and then they start incorporating unit trusts. Women embark on stock trading later in life.

This is mostly because the investment goals of women differ to that of men, explained Visser.

Women don’t just invest for themselves but for their families and immediate community. Women often focus on getting returns that make them feel like they are making a difference or a contribution to society, rather than just getting the highest return in monetary terms, she explained.