South Africa Banks at Risk From Trade, War Shocks, SARB Says

Growing geopolitical tensions and global policy uncertainty are among the biggest risks facing South Africa's financial industry, the central bank said.
The nation is vulnerable to spillover effects from trade-related tensions and international conflicts because of the limited extent to which it can mitigate them, the South African Reserve Bank said in its biannual Financial Stability Review.

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Forbes

20 minutes ago

• Forbes

Why Now Is The Time To Find A Fabulous Gay Financial Advisor

Now is the time vote with your wallet and find an amazing gay financial advisor. It's 2025, and a gay financial advisor just might be right for you. If nothing else, they may make financial planning fun enough for you to take the steps necessary to reach financial freedom and enjoy it along the way. The gay community faces a unique set of challenges when it comes to careers and finances that deserve the best advice available to them, and that may mean choosing an LGBTQ+ friend or even, if available, a gay financial advisor.I'm writing this article during Pride Month, which, despite misinformation circulating on the web, has not been canceled. We also just witnessed the "No Kings Day" protests across the county, reportedly the largest protest in U.S. history. Millions of Americans are ready for change and are often willing to vote with their wallets. Your financial advisor doesn't need to match your political affiliation or sexual orientation. Still, if they see the world differently than you, it might create financial planning blind spots that could be devastating for your finances when things go I'm proud to be a financial planner, sadly, the demographic truth is that the overall financial industry skews mostly older, whiter, more male and socially conservative than the population as a whole. Mind you, just because your adviser is wearing a Maga hat in his profile picture doesn't necessarily mean he (and in this case, he probably is a 'he') is a big homophobe. But aside from some notable, admirable exceptions, fiscal conservatives aren't exactly out there speaking up for LGBT rights. Some may be blatantly hostile to them. It's a double whammy if you are LGBTQ+ and a person of color, an immigrant or the wrong religion. While no specific data shows how many financial advisors are LGBTQ+, we know that more than 76% of Certified Financial Planners™ are male. There has been a significant increase in racial diversity across the 100,000 CFP® in the USA over the past few years. According to the CFP Board's Consumer Sentiment Survey — LGBTQ+ Financial Planning Pulse, same sex married couples are more than twice as likely to be working with a financial planner. Nearly ¾ of LGBTQ+ investors would prefer to work with a gay financial advisor or who identifies as part of a financial advisor who is part of the LGBTQ+ community. What difference does sexual orientation make when it comes to financial planning? Quite simply, the way you spend and allocate your money has everything to do with who you are and how you live. It follows that if someone has a visceral prejudice against your very existence, how can you trust them to have your best interests at heart? So, here are the top reasons you may be happier with an LGBT gay or gay-friendly financial planner. You might as well have a financial planner who is as fabulous as you are. The Worldview Of Your Gay Financial Advisor Every time I attend a financial industry conference or interact with other financial advisors, I can't help but notice how conservative many of them are. They may be nice guys, but if they don't think you deserve to exist, they likely aren't going to give you the best advice to reach financial freedom or have the best options to build your family. I've spoken to many women who described their families' (or husbands') financial advisors as creepy or even lecherous on a few occasions. It's not exactly how I'd want to be described, nor is it a skill I'd look for in my financial advisor. The right gay financial advisors will more likely share your social and political views. Hopefully, this means hiring someone you can trust. If you find that you can more easily trust someone who is gay or gay-friendly, then so be it. We might also appreciate it when you say you want to retire to Palm Springs or spend summers in Provincetown, not to mention not coming back and scolding you for what could seem like an exorbitant travel budget compared to the average retiree. Beyond the fun aspects, such as where to retire and how much to spend on travel or entertainment as we age, there are several other considerations for gay retirees to consider. A gay financial advisor may have better insights into where you can retire and get the healthcare you need without too much homophobia getting in the way. Likewise, long-term care planning is different for gay couples without children. Many in the gay community have expressed interest in retiring abroad. The number of people reaching out to me on this topic has skyrocketed since the last presidential election. People I know who were considering retiring abroad have pulled the trigger and are making it happen. Gay retirees are not alone in this desire to escape the U.S. I've seen many other people put plans in place just in case they need to move Best Gay Financial Advisor Advantage - Lifestyle Comprehension Walking down the street in Palm Springs, Manhattan or West Hollywood, it is easy to forget that there are still people in the closet. These days, in many parts of the county, staying in may actually be a matter of survival. We'd like to think that the closet is history, but in many parts of the country, staying 'in' can literally be a matter of survival. Throughout the last 20 years working as a fabulous financial advisor, I've spoken with a wide variety of people across the LGBTQ+ spectrum who were fearful of coming out to their financial advisor. This is a person you are entrusting to your financial future. If they don't know what truly motivates you and what you are looking to accomplish, how can they offer the best financial advice for your specific goals and the timeframe in which to achieve them? I've also literally reviewed financial plans where the sex of the second spouse was changed to cover the fact that this was a same-sex couple. Two glaring problems present themselves here: 1) The input of both spouses was not included in the financial plan. Financial Planning for couples (gay or straight) is not a solo sport. 2) Healthcare needs and life expectancy differ significantly when a couple consists of two women versus two men. The difference may not be dramatic now, but it can prove quite sizable over Marriage Equality Mean The End Of Gay-Specific Financial Planning The good news is that the LGBTQ community has achieved legal marriage equality. With that equality comes all the rights and responsibilities that come with marriage. When it comes to income taxes and estate planning, this has significantly helped level the playing field for LGBT citizens by granting access to spousal benefits, such as Social Security and additional retirement account options. There are currently nine states with proposals attacking same-sex marriage. Five of the measures urge the Supreme Court to overturn its 2015 landmark ruling in Obergefell v. Hodges, which granted same-sex couples nationwide the right to marry. While I am optimistic that at least those who are already married won't see their marriage nullified, our community needs to be vigilant to maintain our hard-fought and well-deserved rights. Either way, marriage equality does not mean an end to the unique financial challenges facing the LGBTQ+ community. If nothing else, gay seniors may differ in priorities, interests, hobbies and ideal retirement For Your Fabulously Gay Financial Plan Choosing the best gay financial advisor is one of the most important decisions you'll ever make. Here's what to look for in a financial advisor: If your advisor was more likely to be storming the Capitol on January 6 than voting for marriage equality, it may be time to think about your financial advisor relationship. The days are gone of having to search for a financial advisor near me and working with the person who is closest to me. Gay business owner? There is a financial advisor who specializes in that. Gay couple looking to retire abroad. Likewise, there is someone who specializes in that. The list goes on, so there is no reason to settle for anything less than fabulous financial advice.

Bloomberg

an hour ago

• Bloomberg

Italy to Provide €250 Million to Africa Finance for Energy, Rail

Markets By and Ana Monteiro Save Italian institutions will provide as much as €250 million ($288 million) to Africa Finance Corp. to boost the European nation's participation in supply chains related to critical minerals and renewable energy. State lender Cassa Depositi e Prestiti SpA will provide the 10-year loan facility, with Italian export-credit agency SACE covering as much as 80% of the amount, they said in an emailed statement.

News24

an hour ago

• News24

Global leaders zero in on whistleblowers at G20 corruption talks

The 2nd G20 Anti-Corruption Working Group (ACWG) under the South African Presidency convened in Brasilia from June 9 to 12, 2025, uniting delegates to address critical issues in preventing and combating corruption. Co-Chaired by South Africa and Brazil, the meeting aimed to reinforce the Working Group's priorities to strengthen the public sector by promoting transparency, integrity, and accountability, increasing the efficiency of asset recovery measures, enhancing participation from the public sector, private sector, civil society, and academia, and improving whistleblower protection mechanisms. The South African Ambassador to Brazil, Mr. Vusi Mavimbela, delivered the opening remarks during the inaugural session. He highlighted the importance of international collaboration in the fight against corruption and stressed South Africa's dedication to advancing collective goals, stating, 'Through our G20 Presidency theme, 'Solidarity, Equality, and Sustainability', we reaffirm our commitment to advancing collective efforts toward inclusive global economic growth and sustainable development.' Brazil's Minister of State for the Office of the Comptroller General, H.E. Mr. Vinícius Marques de Carvalho, delivered the keynote address, stressing the significance of inclusive approaches in anti-corruption efforts. He underscored the complex nature of corruption, requiring diverse perspectives and expertise. H.E. Carvalho called for a multi-agency strategy, urging the involvement of civil society, academia, and the private sector in shaping effective anti-corruption policies. At the heart of the meeting were the discussions of the draft G20 High-Level Principles on the Management of Seized and Confiscated Assets. These draft principles aim to provide a framework for G20 countries to manage seized assets, closing gaps identified by the ACWG to strengthen asset recovery. The Group also considered the Zero Draft Ministerial Declaration, encapsulating the commitment of G20 countries to address corruption through prevention. This draft will be presented for adoption at the Ministerial Meeting in October 2025. In addition to the main sessions, a side event was held on measuring integrity in public procurement, exploring challenges in quantifying corruption, and the necessity for evidence-based methodologies, co-hosted by the United Nations Development Program (UNDP). The UNDP informed that it is establishing a framework for measuring integrity, collecting data from 60 countries by the end of 2025. This initiative aims to provide objective tools to gauge the effectiveness of anti-corruption measures. Another side event was held to address the preventive dimension in the fight against corruption and new forms of organized crime, co-hosted by EL PACTO 2.0, a partnership with the European Union focused on justice and security. The G20 ACWG and the Organisation for Economic Co-operation and Development (OECD) Working Group on Bribery held a joint meeting aimed at supporting the shared commitment to combating the bribery of foreign public officials in international transactions. The 2nd G20 ACWG l Meeting provided an opportunity for delegates to exchange views, share experiences, and deepen understanding of the evolving challenges and opportunities in the fight against corruption through the lens of the Presidency's theme of solidarity, equality, and sustainability. The Working Group acknowledged that there remains considerable work ahead to fully realise the deliverables committed to at the start of the year, including timely responses to the questionnaires, substantive inputs toward the draft Ministerial Declaration, and the High-Level Principles on the Management of Seized and Confiscated Assets. Through these efforts, the G20 seeks to instil confidence in its commitment to combating corruption and promoting sustainable development, ensuring a brighter future for all. As South Africa and Brazil lead this charge, the hope is that the momentum generated from this meeting will translate into tangible actions that resonate beyond borders, creating a global environment where corruption has no place.