Sanlam Investments supports urban farmers with R350,000 donation to Ladles of Love Foundation
In support of the United Nations’ Sustainable Development Goal 2: Zero Hunger, Sanlam Investments has donated R350,000 to the Ladles of Love Foundation’s “Feed the Soil” programme.
According to Sanlam, this donation will fund a refrigerated vehicle designed to collect fresh produce from vulnerable small farming communities in Cape Town.
"The vehicle will enhance urban farmers' ability to sell higher-quality produce, while also supporting sustainable food systems in the region," the group said.
Ladles of Love, recognised for its work in providing meals to Early Childhood Development centres, has expanded its efforts to include sustainability through the “Feed the Soil” programme. This initiative aims to build community resilience by promoting locally grown produce, supporting local agriculture, and encouraging healthy diets.
According to the group, the refrigerated vehicle, funded primarily by Sanlam Investments, will enable safe and efficient transport of fresh produce, ensuring that the highest-quality nutrition reaches local markets and those in need. Through this partnership, both organizations are working towards a more sustainable and food-secure future for the community.
Absa Homeowner Sentiment Index reveals positive outlook for property market
South African consumers remain optimistic about the property market, with 84% of respondents in the Q3 Absa Homeowner Sentiment Index (HSI) expressing confidence in its future.
According to Absa, the index shows sustained cautious optimism, maintaining the same score over the past two quarters. This follows recent interest rate cuts from the central bank, which had previously increased rates, putting financial strain on consumers and delaying property purchases.
Nondumiso Ncapai, managing executive at Absa Home Loans, noted that while further interest rate reductions are expected in the coming months, the immediate financial situation for consumers remains challenging. “It will take time for consumers to recover financially, with the full impact of lower rates only expected to improve cash flow in the near future,” she said.
Despite these short-term financial pressures, house price indices, including the Absa House Price Index, have shown incremental growth over the past 12 months. This signals a potential recovery in the property market, as house prices have been tracking low single digits in nominal terms, suggesting gradual improvement ahead, the group said.
FNB anticipates record sales for Black Friday and Cyber Monday 2024
FNB says it expects a boost in sales for Black Friday and Cyber Monday in 2024, driven by an improved economic environment and a steady recovery in consumer incomes.
The bank says with many retailers offering extended specials leading up to the event, it forecasts spending to exceed R3 billion over the Black Friday weekend and anticipates a major shift towards digital payments.
Senzo Nsibande, CEO of FNB Card, notes that several factors suggest a strong shopping season. Digital wallet usage is projected to rise by over 40% year-on-year, reflecting the growing trend of digital adoption.
“Online sales are expected to increase by more than 10%, highlighting the shift towards e-commerce, while traditional in-store sales and cash payments are likely to decline,” it says.
FNB's data also reveals notable growth in sectors beyond electronics and household items, with travel-related spending showing a significant uptick. On the acquiring side, FNB Merchant Services processed 18.4 million transactions in October 2024, a 400,000 increase from the same period last year. Based on this, the bank projects around 19.5 million transactions for Black Friday, indicating a positive outlook for the season.
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