South African bank fees under fire
South African banks may be forced to reduce the fees they charge customers, the Sunday Times reported.
According to the report, politicians are in favour of “drastic action” to protect South Africans against high bank fees.
The Sunday Times quoted ANC spokesman Zizi Kodwa as saying that “they [the banks] do not have a choice”.
The banks, however, argue that their fees are fair. Other people also agree that banks should not be forced to cut fees.
DA shadow minister of finance Dion George said that while local bank fees are high, market forces should drive down prices.
Also see: South African banking fees 2015
The full report is available in the Sunday Times of 15 February 2015.
News Category
- International retailers
- On the move
- Awards and achievements
- Legislation
- Wine and liquor
- Africa
- Going green
- Supplier news
- Research tools
- Retailer trading results
- Supply chain
- Innovation and technology
- Economic factors
- Crime and security
- Store Openings
- Marketing and Promotions
- Social Responsibility
- Brand Press Office
Shoprite increases executive pay as consumers t...
By: Tawanda Karombo – IOL Business
In a year marked by stiff economic challenges, Shoprite has announced significant increases in the remuneration of its top executives, while simultaneously warning about the growing price sensitivity among South...
Unions slam SA retailers for ‘profiteering’ as ...
By: Manyane Manyane - IOL
Retailers have been criticised for keeping essential food items prices high despite production costs continuing to decline.
Major Petrol Price Changes on the Horizon
The Department of Mineral and Petroleum Resources is in talks with National Treasury to lower the cost of fuel, with a move to change to both petrol and diesel prices in South Africa.
Retailers not cutting food prices fast enough -...
By: Nick Wilson – Fin24
Releasing its latest Essential Food Price Monitoring Report (EFPM) on Friday, the Competition Commission said the "slow transmission" of reduced cooking oil prices to consumers, for instance, raised concerns about retailer...
SA retailers confidence remains in contractiona...
By: Siphelele Dludla – IOL Business Report
Sentiment in the retail industry in South Africa has ticked up though it remains in contractionary territory as consumers have begun feeling confident that the cost of living is slightly easing.