La Société islamique pour le développement du secteur privé (SID) mobilise des fonds du secteur privé pour un financement consortial conforme à la charia de 60 millions USD en faveur d’Asakabank

Source: Africa Press Organisation – French

  • La SID, agissant en qualité d’arrangeur principal mandaté et de teneur de livre, a structuré et finalisé un financement consortial conforme à la charia de 60 millions USD en faveur de la banque ouzbèke Asakabank, assorti d’une clause d’extension permettant d’en accroître le montant.
  • Ce financement est structuré en plusieurs tranches à échéances différentes, offrant à Asakabank un accès flexible et à long terme à des financements islamiques.
  • La banque Boubyan K.S.C.P., institution financière koweïtienne, a participé en qualité de co-arrangeur principal. L’opération a également bénéficié du soutien de la Société islamique d’assurance des investissements et du crédit à l’exportation (SIACE), par le biais d’une garantie de crédit accordée aux participants.

La Société islamique pour le développement du secteur privé (SID) (www.ICD-PS.org), institution financière multilatérale de développement et branche du secteur privé du Groupe de la Banque islamique de développement (BID), a le plaisir d’annoncer la finalisation réussie d’un financement consortial conforme à la charia d’un montant de 60 millions USD en faveur de la banque ouzbèke Asakabank, assorti d’une clause d’extension permettant d’accroître ce financement. Ce partenariat stratégique entre les deux institutions vise à soutenir la croissance des entreprises du secteur privé en Ouzbékistan en leur offrant des financements conformes à la charia, en complément des financements généraux nécessaires à Asakabank.

Ce financement consortial a été structuré et piloté par la SID, qui a agi en qualité de chef de file mandaté, de teneur de livre et d’agent d’investissement. La banque koweïtienne Boubyan a participé en qualité de co-chef de file. L’opération a également bénéficié du soutien de la Société islamique d’assurance des investissements et du crédit à l’exportation (SIACE), par le biais d’une garantie de crédit accordée aux participants. La participation de la banque Boubyan, seule institution financière koweïtienne participante, témoigne de son engagement constant en faveur de structures de financement innovantes conformes à la charia et du développement du secteur privé régional. Elle souligne l’intérêt croissant des institutions financières islamiques pour les opportunités de syndication structurées, appuyées par des solutions robustes de gestion des risques.

La SID demeure déterminée à développer des canaux de financement conformes à la charia dans ses pays membres afin de promouvoir la finance islamique. Ce dispositif illustre la solidité des relations qu’entretient la SID avec d’autres institutions financières islamiques de premier plan, dans le cadre de ses efforts continus visant à mobiliser des ressources en faveur du développement durable du secteur privé dans ses pays membres.

À cette occasion, le Dr Khalid Khalafalla, PDG par intérim de la SID, a déclaré : « Je suis heureux d’annoncer ce financement historique, conçu pour promouvoir les projets du secteur privé en République d’Ouzbékistan et faciliter l’accès au financement en pleine conformité avec les principes de la charia. Cette opération témoigne également de l’engagement fort de la SID à mobiliser les ressources du secteur privé : pour chaque dollar investi par la SID, nous avons mobilisé avec succès un dollar équivalent auprès d’institutions partenaires. Grâce à cette initiative, nous visons à soutenir les projets du secteur privé, notamment les grandes entreprises et les PME, qui contribuent de manière significative au développement de l’économie ouzbèke. »

De son côté, M. Surat Utkurovich Zakirov, président par intérim du conseil d’administration d’Asakabank, a déclaré : « Asakabank est une banque universelle en pleine croissance, offrant une large gamme de produits et de solutions aux particuliers et aux entreprises. À la suite de l’introduction récente de la législation relative à la banque islamique en Ouzbékistan, nous considérons la SID comme un partenaire stratégique en matière de financement conforme à la charia pour le secteur privé et nous nous réjouissons de poursuivre notre collaboration. »

Distribué par APO Group pour Islamic Corporation for the Development of the Private Sector (ICD).

Media files

Keynote address Deputy Minister in The Presidency, Nonceba Mhlauli, at the Unilever TVET Cook Challenge Grand Finale, Unilever La Lucia Ridge Hub, Durban, KwaZulu-Natal

Source: President of South Africa –

Programme Director;
Deputy Minister of Higher Education and Training, Dr. Nomusa Dube-Ncube;
Mr. Stefan Cloete, Chief Executive Officer of Unilever Southern Africa;
Ms. Sithembile Sefako-Ngobese, Communications, Corporate Affairs and Sustainability Director;
Dr. Nkosenye Godfrey Zulu, Head of Department for KwaZulu-Natal Economic Development, Tourism and Environmental Affairs;
Mr. Sam Zungu, Deputy Director-General for the TVET Branch;
Mr. Marks Thibela, CEO of CATHSSETA;
Ms. Nokuthula Selamolela, CEO of FoodBev SETA;
Mr. Coovashan Pillay, CEO of the South African Chefs Association;
Chef Vusi Mteshana, Executive Head Chef of Unilever Food Solutions South Africa;
Representatives from TVET Colleges;
Members of the hospitality and tourism sectors;
Esteemed lecturers, mentors, parents, and most importantly, our exceptional nine provincial finalists;

Good afternoon.

It is both a privilege and an honour to join you today at the Grand Finale of the Unilever TVET Cook Challenge. I wish to extend my sincere appreciation to Unilever, the South African Chefs Association, FoodBev SETA, CATHSSETA, our TVET colleges, government departments, and every partner whose collective efforts have made this remarkable initiative possible.

Today, we gather here not simply to witness a competition, but to celebrate a profound story a story of heritage, creativity, resilience, and opportunity. The Unilever TVET Cook Challenge is a testament to the power of talent and practical skills to transform lives and communities.

The theme of this year’s competition, “Culinary Roots,” is a fitting reminder that every dish prepared is not just food. It is a narrative of our people, our cultures, our histories. It carries the wisdom of generations past and carries that spirit into our shared future.

In honouring these roots, our young chefs do more than create flavours; they connect us to who we are and inspire what we can become. They remind us that respecting tradition and embracing innovation must go hand in hand if we are to build a South Africa that is inclusive, dynamic, and forward-looking.

TVET Colleges: Engines of Inclusive Growth

Technical and Vocational Education and Training colleges have become essential institutions in developing the skilled workforce that our economy urgently requires. They produce artisans, technicians, entrepreneurs, hospitality professionals, and countless other skilled individuals whose expertise keeps our industries functioning and our economy growing.

As Government, we continue to strengthen the TVET sector because we recognise that economic growth cannot be achieved without practical skills. South Africa requires qualified electricians, welders, plumbers, mechanics, hospitality professionals, agricultural specialists, and chefs just as much as it requires lawyers, accountants, and engineers. The young people gathered here today are proof that vocational education opens doors to meaningful careers and successful businesses.

Entrepreneurship: Turning Passion into Prosperity

Distinguished guests,

When we speak about becoming a hospitality professional, we should not only think about employment.
We should also consider entrepreneurship.

Some of South Africa’s most successful entrepreneurs began with nothing more than a passion for food and the determination to succeed.

The culinary industry offers limitless possibilities.

It creates opportunities in restaurants, hotels, tourism, catering, food manufacturing, event management, baking, food styling, digital content creation, and product innovation.

Today’s young chef can become tomorrow’s employer.
The food truck of today can become tomorrow’s restaurant chain.
The home bakery of today can become tomorrow’s national brand.

That is why entrepreneurship must become central to our thinking as a nation.

Government is committed to building an economy where young people do not only search for employment but are empowered to create employment for others.

This is why programmes such as the National Youth Development Agency grant programme, the Small Enterprise Development Agency, the Small Enterprise Finance Agency and the Industrial Development Corporation continue to provide financial and business development support to qualifying young entrepreneurs.

We encourage every aspiring chef to make use of these opportunities.

Your qualification should not become a certificate that hangs on the wall. It should become the foundation upon which you build businesses that contribute to South Africa’s economic growth.

Commemorating the Golden Anniversary of the Youth of 1976

As we celebrate excellence today, we also do so during a significant year in our country’s history. 

This year marks the 50th anniversary of the 1976 Youth Uprising. Fifty years ago, young South Africans demonstrated extraordinary courage in confronting an unjust system that sought to deny them quality education and equal opportunity. They understood that education was the foundation upon which freedom, dignity and prosperity would be built. Their struggle was never simply about classrooms. It was about creating opportunities for future generations to realise their full potential. Today, we honour their legacy not only through remembrance but through action.

Every investment in education,
Every bursary awarded…
Every apprenticeship created…
Every young entrepreneur supported…
Every partnership between government, business, and educational institutions…

Is a continuation of the vision for which the youth of 1976 sacrificed so much.

The freedom they fought for now places a responsibility upon us to ensure that every young South African has access to opportunities that allow them to succeed.

One of the greatest challenges facing our country today remains youth unemployment.

Government recognises that economic transformation cannot happen through policy alone. It requires collaboration between government, educational institutions, organised business, and civil society.

Therefore, the Unilever TVET Cook Challenge demonstrates exactly what such collaboration looks like.

It provides young people with industry exposure.
It allows them to demonstrate their abilities before respected chefs and employers.
It rewards excellence with internships and career opportunities.
Most importantly, it builds confidence in these people that participated in this challenge.

For many young people, all they need is someone to recognise their potential.

Today’s finalists have already demonstrated that they possess the discipline, resilience and determination needed to succeed in one of the world’s most demanding professions.

They should be incredibly proud of reaching this stage.

The Ballot Box: Your Future Is Also in Your Hands

Programme Director,

As we commemorate fifty years since the youth of 1976 stood up for justice and equal opportunity, we must also remember that they fought so future generations could determine the destiny of this country.

Today, unlike the youth of 1976, you possess one of the most powerful democratic tools imaginable.

To every young South African who is eighteen years or older, I urge you to register to vote and to participate actively in our democracy. Do not leave the future of this country in the hands of others. The decisions taken through democratic processes influence education. They influence economic policy, the investment, the entrepreneurship, including the employment.

If you care about opportunities for young people, if you care about building an economy that works for everyone, then make your voice heard.

Democracy is strongest when young people participate.

Do not become spectators in the future of your own country.

Become active citizens. Register. And most importantly you participate in Vote.

Conclusion: Building The South Africa, We Want

As I conclude, let me once again congratulate every finalist gathered here today. Whether you leave here with first prize or not, you have already demonstrated excellence. Continue sharpening your skills and never stop learning. Use every opportunity that comes your way, build businesses that create jobs. Mentor those who come after you. Carry the South African flag with pride wherever your career takes you from today onwards.

The future of South Africa cannot be built by government alone.

It requires all of us.
It requires partnerships.
It requires hard work.
It requires active citizens.
And above all, it requires young people who believe that they can change the world.

Allow me to leave you with the timeless words of our founding democratic President, Nelson Mandela:
 
“It is through education that the daughter of a peasant can become a doctor; that the son of a mineworker can become the head of the mine; that a child of farm workers can become the President of a great nation.”

Therefore,

Continue dreaming.
Continue creating.
Continue believing.
Register to vote.
Participate in our democracy.

And together, let us build the inclusive, innovative, and prosperous South Africa envisioned by the youth of 1976 and promised by our Constitution, let us build a nation that indeed works for all.

I thank you.

Call for coordinated SADC action to strengthen regional economies

Source: Government of South Africa

Call for coordinated SADC action to strengthen regional economies

Amid persistent global economic uncertainty, Minister of Finance Enoch Godongwana has called on the Southern African Development Community (SADC) to position the region as a competitive producer through greater cooperation and coordinated policy action.

Speaking at the SADC Committee of Ministers of Finance and Investment meeting in Harare, Zimbabwe, Godongwana said member states should adopt coordinated and forward-looking economic and policy responses to protect their economies against global shocks.

“Importantly, this will require leveraging critical minerals to drive industrialisation, promoting food security through cooperation in agricultural production and agro-processing, deepening intra-regional trade integration, and strengthening resilient infrastructure and supply chains,” Godongwana said on Thursday.

He stressed that achieving these objectives will require sustained political leadership, stronger institutional coordination and a shift from commitments to implementation.

“In this regard, we will need to prioritise a select set of high-impact actions. Amongst these, for example, are the trade facilitation reforms, development of transport and logistics corridors, seamless transmission of digital payments, including reducing the cost of remittances across the region,” the Minister said.

Godongwana also warned that the changing global development finance landscape poses a significant risk to the region, particularly as international aid to Sub-Saharan Africa continues to decline.

“This shifting landscape calls for a structural transformation in development finance across the SADC region.

“Beyond protecting critical social sectors, there is an urgent need to pivot toward more sustainable and diversified financing models, leveraging blended finance, public-private partnerships (PPPs), and deeper private sector participation to offset declining donor flows,” he said.

According to the Minister, initial estimates by the International Monetary Fund (IMF) suggest bilateral aid could contract by between 16% and 28% from 2025.

“These cuts are donor-driven and broad-based in scope and not a reflection of individual country performance. Unlike previous downturns, the current reductions are large and highly unpredictable, representing a systemic and potentially lasting shock rather than a temporary disruption. 

“The poorest and most fragile countries will be disproportionately affected,” the Minister said. –SAnews.gov.za

 

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Government condemns false information on death of a Ghanaian national

Source: Government of South Africa

Government condemns false information on death of a Ghanaian national

Minister of Justice and Constitutional Development and chair of the Inter-Ministerial Committee (IMC) on Migration, Mmamoloko Kubayi, has strongly rejected as “factually incorrect” any link between anti-irregular migration demonstrations held earlier this week and the fatal shooting of a Ghanaian national in the Western Cape. 

This follows an official communication issued by Ghana’s Ministry of Foreign Affairs claiming that one of its citizens was killed on Monday during public demonstrations.

However, police reports indicate that the man was killed on Monday — a day before the demonstrations — in circumstances related to extortion.

“It is concerning that Ghanaian authorities continue to communicate false information about South Africa regarding developments on irregular migration.

“The fact of the matter is that no fatalities have been recorded during the day of these demonstrations and isolated incidents of criminality that occurred on the day have been acted upon by the law enforcement authorities,” Kubayi said.

Kubayi urged that diplomatic matters and concerns be addressed through established channels.
“We regret all loss of life on our shores, and we would like to send our heartfelt condolences to the family of the deceased and assure them that our law enforcement authorities will investigate this matter and bring the perpetrators to book,” the Minister said.

The IMC emphasised that the “spread of false information to perpetuate the false narrative that South Africa is xenophobic is unacceptable”. – SAnews.gov.za

 

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Islamic Corporation for the Development of the Private Sector (ICD) Mobilizes Private Sector Funding for USD 60 Million Shariah-compliant Syndicated Financing Facility for Asakabank

Source: APO – Report:

  • ICD, acting as Mandated Lead Arranger and Bookrunner, has structured and closed a USD 60 million Shariah-compliant Syndicated Financing Facility for Joint Stock Company “Asakabank” (“Asakabank”) of Uzbekistan, with an accordion feature to increase the facility size.
  • The facility is structured in multiple tranches with different tenors, providing Asakabank with flexible, long-term access to Islamic financing.
  • Boubyan Bank K.S.C.P. the Kuwaiti financial institution, participated as Joint-Lead Arranger. The transaction was further supported by the Islamic Corporation for the Insurance of Investment and Export Credit (“ICIEC”) through the provision of credit enhancement for participant (s).

The Islamic Corporation for the Development of the Private Sector (“ICD”) (www.ICD-PS.org), a multilateral development financial institution and the private sector arm of the Islamic Development Bank (IsDB) Group, is pleased to announce the successful closure of USD 60 million Shariah-compliant Syndicated Financing Facility for Joint Stock Company “Asakabank” (“Asakabank”), with an accordion feature to increase the facility size. This strategic collaboration is intended partnership between the two institutions aims to support the growth of private sector businesses in Uzbekistan by offering Shariah compliant financing, in addition to the general corporate requirements of Asakabank.

The syndicated financing facility was structured and led by ICD, acting as Mandated Lead Arranger, Bookrunner and Investment Agent. Boubyan Bank K.S.C.P. participated as Joint-Lead Arranger. The transaction was further supported by the Islamic Corporation for the Insurance of Investment and Export Credit (“ICIEC”) through the provision of credit enhancement for the participant (s). The participation of Boubyan Bank K.S.C.P, as the sole Kuwaiti financial institution in the syndication, demonstrates its continued commitment to innovative Shariah-compliant financing structures and regional private sector development. Its participation highlights the growing appetite among Islamic financial institutions for structured syndication opportunities supported by robust risk mitigation solutions.

The ICD remains committed to developing Shariah compliant financial channels in member countries to promote Islamic finance. This facility demonstrates the strong relationship of ICD, with other leading Islamic Financial Institutions in its ongoing efforts to mobilize resources in support of sustainable development of the private sector across its member countries.

Dr. Khalid Khalafalla, Acting CEO of ICD, stated “I am glad to announce this landmark financing facility, which is designed to promote the private sector projects in the Republic of Uzbekistan and to advance financing in full compliance with Shariah principles. This transaction also reflects ICD’s strong focus on mobilizing private sector resources, where for every dollar deployed by ICD, we have successfully mobilized an equivalent dollar from partner institution. Through this initiative, we aim to empower private sector projects, particularly corporates and SMEs, those having meaningful developmental impact on the economy of Uzbekistan.”

Mr. Surat Utkurovich Zakirov, Acting Chairman of the Board of Asakabank also stated “Asakabank is a rapidly growing full-service bank offering a wide range of products and solutions for both retail and corporate customers. With the recent introduction of Islamic banking legislation in Uzbekistan, we consider ICD as a strategic partner in Sharia-compliant financing for private sector and look forward to continuing our cooperation in the future”.

– on behalf of Islamic Corporation for the Development of the Private Sector (ICD).

Media Contact: 
Islamic Corporation for the Development of the Private Sector (ICD)

Nabil Al-Alami
Division Manager, Communication & Corporate Marketing, ICD
Email: nalami@isdb.org    

Joint Stock Company “Asakabank” (Asakabank)
Azizkhon Anvarkhonov
Head of Press Center
Email: Azizxon_A@asakabank.uz

Joint Stock Company “Asakabank” (Asakabank): 
Founded in 1995, Joint Stock Company “Asakabank” (Asakabank) is one of Uzbekistan’s leading commercial banks, serving a wide range of corporate and individual clients. With an extensive branch network across the country, Asakabank provides comprehensive banking services focused on supporting industrial, infrastructure, and private sector development. The bank is recognized for its innovative approach to financial products and its commitment to facilitating economic growth and entrepreneurship in Uzbekistan. Asakabank actively invests in digital transformation and sustainable finance, striving to deliver high-quality, customer-oriented solutions that contribute to the nation’s overall economic progress.

About the Islamic Corporation for the Development of the Private Sector (ICD):
The Islamic Corporation for the Development of the Private Sector (ICD) is a multilateral development financial institution that supports the economic development of its member countries. ICD is a member of the Islamic Development Bank (IsDB) Group with an authorized capital of $4 billion, ICD’s shareholders include the IsDB, 56 member countries, and five public financial institutions. ICD’s mandate is to promote the economic development of its member countries by financing and encouraging the establishment, expansion and modernization of private sector enterprises and projects in its member countries, promoting competition and entrepreneurship, and encouraging cross-border investments. The ICD is currently rated ‘A2’ by Moody’s, ‘A+’ by Fitch, and ‘A’ by S&P. For More information on ICD visit: www.ICD-PS.org

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Well wishes for Proteas Women 

Source: Government of South Africa

Well wishes for Proteas Women 

Government has wished the Women’s T20 cricket team well as they take on England in the semi-final of the ICC Women’s T20 World Cup today at 3pm.

“The Proteas Women have made the nation proud with their outstanding performances throughout the tournament and have inspired South Africans with their determination, resilience and fighting spirit,” the Government Communication and Information System (GCIS) said on Thursday.

Government has called on all South Africans to get behind the team by wearing their Proteas jerseys or South African colours, proudly flying the national flag and cheering them on as one united nation.

“Today presents another opportunity for South Africans to stand together in support of a team carrying the hopes and pride of the nation. Government wishes the Proteas Women every success and looks forward to another memorable performance as they pursue a place in the ICC Women’s T20 World Cup final,” Acting Government Spokesperson Nomonde Mnukwa said. –SAnews.gov.za

 

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Government conveys condolences following crash that claimed 16 lives

Source: Government of South Africa

Government conveys condolences following crash that claimed 16 lives

The Minister of Transport, Barbara Creecy, and Deputy Minister Mkhuleko Hlengwa have expressed their condolences to the bereaved families who lost their loved ones in a bus crash that claimed 16 lives.

The crash occurred in the early hours of Thursday on the N1 near Gulfstream Garage in the Western Cape.

According to reports, the bus was transporting 78 passengers, including children, from Cape Town to Idutywa in the Eastern Cape.

It is alleged that the bus overturned, resulting in 16 fatalities and leaving 20 occupants injured. The injured were transported to Worcester Hospital, while 43 occupants refused medical treatment.

Creecy and Hlengwa have wished a speedy recovery to all those who sustained injuries.

They have also directed the Road Accident Fund (RAF) to provide the bereaved families and the injured with the necessary support.

In addition, Creecy and Hlengwa have instructed the Road Traffic Management Corporation (RTMC) to investigate the cause of the crash in collaboration with local authorities.

A preliminary investigation report is expected within 48 hours after the RTMC begins its investigation. –SAnews.gov.za

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Strategic partnerships key to youth economic inclusion, says Chikunga

Source: Government of South Africa

Strategic partnerships key to youth economic inclusion, says Chikunga

Minister in the Presidency for Women, Youth and Persons with Disabilities Sindisiwe Chikunga has called for stronger strategic partnerships between government and the private sector to accelerate youth economic inclusion, women’s empowerment, food security, skills development, and inclusive economic growth.

The Minister made the call at the KFC Africa Impact Report Launch in Johannesburg on Wednesday.
Held under the theme: “Private Sector as a Partner in Youth Economic Inclusion and Food Security”, KFC Africa’s Impact Report highlights the company’s contribution to youth employment, entrepreneurship, and food security through three key pillars.

The first focuses on creating jobs at scale by providing employment opportunities and skills development within the quick service restaurant sector, while the second showcases the company’s franchise model as a vehicle for accelerating small business growth by expanding Black-owned enterprises and advancing economic empowerment.

The third pillar, Add Hope, highlights KFC Africa’s support for vulnerable communities through its feeding programme, which has provided more than 180 million meals to children since 2009 to support school nutrition and household food security.

Together, the three pillars demonstrate the company’s efforts to promote employment, enterprise development and social impact across South Africa.

Delivering her keynote address, Chikunga commended KFC Africa for its contribution to youth employment through its workforce and its participation in the Youth Employment Service (YES), a public-private partnership that has enabled more than 200 000 young South Africans from being labelled as “unemployed” to being registered as “employed” through a 12-month work experience placement in the private sector.

She said the company’s impact report demonstrated how partnerships between business and government could create employment opportunities, support Black-owned enterprises through franchising and contribute to food security initiatives.

Chikunga urged companies operating across the food, agriculture, hospitality, and distribution sectors to expand opportunities for young people through skills development, enterprise support and integration into supply chains.

“Our young people must be trained, integrated, and transitioned into viable businesses across the food, agricultural value chains, and related industries — from primary production to logistics and distribution, to the food services and hospitality sector, and into the digital platforms that increasingly mediate all of these.

“Every young South African who enters an agricultural value chain, or a food services enterprise, or a hospitality business, must have an exit pathway in place. This is what youth economic inclusion means, substantively. It is the substantive integration of young people into productive enterprises, on terms that give them ownership, agency, and the substantive prospect of accumulation,” the Minister said.

She said emerging Black farmers, particularly women and persons with disabilities, should be supported to transition into commercial agribusinesses through technical support, access to finance, market opportunities and supply chain integration.

“The multiplier effect of a young farmer transitioning into commercial scale is substantively higher than the multiplier effect of most other sectors of the economy. The private sector must recognise this — and act on it.”

Chikunga also highlighted the African Continental Free Trade Area (AfCFTA) as an opportunity to help young entrepreneurs expand beyond local markets into continental and international trade.

She called for greater investment in youth-owned small businesses through franchise development programmes and stronger integration of small enterprises into corporate value chains.

The Minister further called for greater investment in the digital economy, saying expanding affordable internet access and digital opportunities would help young people participate more fully in the modern economy.

“The digital and platform economy is one of the substantive frontiers of the twenty-first century economic mission. Our young people are on that frontier already. The private sector must meet them there,” she said. – SAnews.gov.za

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Nearly 2 million auto-assessed as SARS introduces enhancements

Source: Government of South Africa

Nearly 2 million auto-assessed as SARS introduces enhancements

As the 2026 tax filing season gets underway, the South African Revenue Service (SARS) has announced a range of digital tools to improve the taxpayer experience, with millions of South Africans being auto-assessed.

In a statement on Thursday, SARS said the enhancements are designed to make tax compliance simpler, faster and more secure for millions of taxpayers. 

“As at the end of 1 July 2026, more than 1.9 million taxpayers were auto-assessed, with about R8 billion refunds paid out in 72 hours.

“The improvements form part of SARS’s commitment to excellent service and its vision to build a smart, modern SARS with unquestionable integrity. SARS aims to give clarity and certainty, and to make it easy for taxpayers to comply with their obligations,” the revenue collector said.

SARS added that enhancements aim to “create a seamless end-to-end filing experience that covers every stage of the taxpayer journey”.

“The improvements are expected to reduce administrative burdens, shorten turnaround times, and improve taxpayer satisfaction.

“SARS expects more than six million taxpayers to receive Auto Assessments this year. By using information from employers, banks, medical schemes, retirement funds, and other third-party providers, SARS can pre-populate returns and significantly reduce the information taxpayers need to capture themselves.

“Taxpayers selected for Auto Assessment between 1 and 12 July 2026 should not rush to SARS Service Centres. Instead, they should wait for official SARS communication and review their assessments through eFiling, the SARS MobiApp, or other authorised digital channels,” the revenue service said.

Key enhancements introduced include: 

  • More accurate Auto Assessments driven by expanded third-party data sources.
  • Expanded digital self-service capabilities through eFiling, SARS MobiApp, and SARS Online Query System.
  • Enhanced profile security through biometric authentication, two-factor authentication, and device-level security controls.
  • Expanded support through the Lwazi AI virtual assistant.
  • The ability to upload supporting documents through WhatsApp.
  • Delivery of Notices of Assessment and Statements of Account through WhatsApp and other digital channels.
  • Improved integration of taxpayer information and enhanced pre-population of returns.
  • SARS has created necessary capacity to cater for increased volumes of taxpayers interacting with it through the various channels

“Our goal is to make compliance effortless for honest taxpayers. Every enhancement introduced this Filing Season is designed to improve service, reduce complexity, and give taxpayers greater confidence when engaging with SARS.

“We want taxpayers to spend less time dealing with administration and more time benefiting from our modern digital services,” SARS Commissioner Dr Johnstone Makhubu said.

The Commissioner warned that although security systems have been bolstered, taxpayers should remain vigilant against scams and criminality.

“Taxpayers should be cautious of anyone who guarantees a refund or requests sensitive information without proper verification. Protecting personal information remains a shared responsibility between SARS and taxpayers.

“Filing Season 2026 demonstrates the progress SARS continues to make in modernising tax administration and improving the taxpayer experience.

“Through enhanced Auto Assessments, stronger digital platforms, improved security, expanded self-service channels, and innovative solutions such as WhatsApp functionality, we are making compliance easier than ever before,” Makhubu said. – SAnews.gov.za

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Binance Surpasses $1 Billion in Assets Under Management for Stocks Trading in 30 Days

Source: APO


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Binance (www.Binance.com), the world’s leading blockchain ecosystem and digital asset infrastructure provider, today announced that stock trading on its platform has surpassed $1 billion in assets under management (AUM) in 30 days since launch. The milestone is accompanied by more than $3 billion in total trading volume since the product went live on June 1, 2026. 

Stock trading on Binance gives users access to over 7,000 U.S. stocks and ETFs (https://apo-opa.co/4v7gJTs), settled in stablecoins, directly within the Binance app alongside their existing crypto holdings.

Key figures since launch include:

  • More than $1 billion in AUM reached within 30 days of launch 
  • Over $3 billion in total trading volume since June 1, 2026
  • Average daily inflows of $42 million
  • Approximately 73% of users come from emerging markets
  • 1 in 7 visitors to Binance’s stock trading page registered an account; of those new sign-ups, nearly 90% went on to place a trade
  • Fractional orders averaged 35% of equity trading volume, with users able to participate from as little as $5
  • Approximately 71% of equity holdings allocated to the Technology sector, with almost half (48%) of that directed toward Semiconductors

“A billion dollars in 30 days is a sign of the demand that has been waiting decades for a door to walk through. The walls that kept most of the world out of U.S. stocks were never as solid as they looked. We built this for the hundreds of millions of people who never had a way in,” said Shunyet Jan, Head of Exchange and Trading at Binance.

Closing a Longstanding Access Gap

According to Binance Research (https://apo-opa.co/3SIAL9s), only around 11% of adults worldwide currently hold a brokerage account. U.S. equities represent roughly half of global stock market capitalisation, yet foreign investors hold only around 18% of that market, and equity participation outside the United States broadly sits below 20%. 

Stock trading on Binance addresses this by allowing users to access U.S. stocks and ETFs through stablecoins and BNB, without a traditional brokerage account. Approximately 73% of users come from emerging markets, the regions which traditional brokerages have historically underserved. Meanwhile, fractional orders averaged 35% of equity trading volume, peaking at 72% on June 10 before stabilising near 20% as smaller-size traders demonstrated preference for accessible, fractional exposure of stocks. This reflects one of the core advantages of acquiring stocks through Binance: removing the capital barrier of full-share ownership and allowing users to participate with amounts as small as $5.

User behaviour points to deliberate investing rather than speculation. Nearly 740 of the 7,000 available stocks and ETFs have already been traded. Approximately 71% of equity holdings are allocated to the Technology sector, with 48% of that directed toward Semiconductors, reflecting a clear tilt toward AI-related themes. The Technology sector generates approximately 23 times the trading volume of other sectors, underscoring the conviction that Binance users have behind these positions. The allocation patterns are consistent with a financially literate user base actively managing sector exposure rather than trading indiscriminately.

Industry Outlook

Stock trading on Binance crossing $1 billion in AUM within 30 days is an early data point in a structural shift that extends beyond a single product. Today, only around 700 million brokerage accounts exist globally, while crypto exchanges have already built distribution infrastructure reaching hundreds of millions of users in markets where traditional brokerages have limited presence. Binance Research projects that by 2031, crypto exchanges as a category could channel $2 trillion in incremental capital into global equity markets and bring 300 million new investors into the asset class.

The near-term trajectory supports the thesis. Based on current growth, Binance Research projects that AUM from stock trading on Binance could exceed $10 billion by the end of 2026, less than seven months after launch. The next wave of equity market participation is unlikely to come from traditional brokerages expanding their reach. It is more likely to come from crypto-native platforms that have already solved the distribution problem, and are now solving the access problem to bring the next few billion users onboard.

This milestone follows the recent achievement by bStocks, Binance’s tokenized 1:1 U.S. securities, which hit $100 million in AUM within two weeks of launch (https://apo-opa.co/4ePxXi9). Together, stock trading and bStocks are part of Binance’s broader effort to expand user access to assets beyond digital assets. 

Distributed by APO Group on behalf of Binance.

About Binance: 
​Binance is a leading global blockchain ecosystem behind the world’s largest cryptocurrency exchange by trading volume and registered users. Binance is trusted by more than 320 million people in 100+ countries for its industry-leading security, transparency, trading engine speed, protections for investors, and unmatched portfolio of digital asset products and offerings from trading and finance to education, research, social good, payments, institutional services, and Web3 features. Binance is devoted to building an inclusive crypto ecosystem to increase the freedom of money and financial access for people around the world with crypto as the fundamental means. 

For more information, visit: https://www.Binance.com  

Disclaimer: Direct stocks are available only to eligible users and subject to local regulatory requirements and product availability. Securities are subject to market and liquidity risk, price volatility, and potential loss of capital. This content is for informational purposes only and should not be construed as financial or investment advice. Users should make an independent assessment of any transaction in light of their own objectives and circumstances and consult their own advisers where appropriate. 

Disclaimer: Nest Trading Limited acts as your introducing broker and routes your orders for Securities to its clearing broker partner, Alpaca Securities LLC, for execution, clearing, settlement and custody. Binance does not handle or custody your Securities. Securities are subject to high market and liquidity risk and price volatility, particularly outside traditional market hours. The value of your investment may go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance is not liable for any losses you may incur. Past performance is not a reliable predictor of future performance. Before trading, you should make an independent assessment of the appropriateness of the transaction in light of your own objectives and circumstances, including the risks and potential benefits. Consult your own advisers, where appropriate. This information should not be construed as financial or investment advice. Binance may receive payment for order flow remuneration for directing your orders. For more information, see the applicable Terms of Use, Securities Trading Product Terms and Risk Warning.