FSCA Warns Public Against Unauthorised Financial Services by Donafin
The FSCA has warned the public against doing financial services-related business with Donafin (Pty) Ltd (Donafin) and its representatives Sean Westcott (Mr Westcott) and Leon Lincoln (Mr Lincoln).
The FSCA said it had informed the public that Donafin and its representatives rendered unauthorised financial services when assisting members of the public with their claims in respect of pension fund benefits.
"The South African Police Service investigated the allegations against Donafin and its representatives, resulting in the arrest of amongst others Mr Westcott.
"The FSCA has learnt that Donafin and Mr Lincoln have despite the public warning continued to provide unauthorised financial services to members of the public, in respect of unclaimed pension fund benefits.
The FSCA said Donafin and Lincoln were alleged to be charging a fee of R1500, to assist members of the public with their claims for pension fund benefits.
"As a result of the latest complaint, and in the interests of the public, the FSCA again warns the public against doing any financial services business with Donafin and Mr Lincoln. Donafin and Mr Lincoln were not available for comment," it said.
South African youth take centre stage in financial literacy film
The premiere of "Rethink Rands," a groundbreaking film aimed at empowering South African youth with financial literacy, took place at Ster-Kinekor, The Zone, Rosebank. This cinematic initiative, sponsored by FNB and MTN, seeks to inspire young people to take control of their financial futures.
"Rethink Rands" addresses the critical issue of financial instability among youth, offering educational content on money management and the path to financial freedom. The film goes beyond traditional financial IQ, introducing the emotional quotient of money handling and encouraging viewers to redefine their relationship with money.
Supported by partners like JSE, Transunion, EOH, and Naspers, the programme is implemented by Primestars and The Youth Start Foundation. Their mission is to bring this vital education to high school students in under-resourced communities across South Africa.
In a country where many young adults lack basic financial knowledge, "Rethink Rands" aims to bridge this gap. By providing a framework for better money management, the film hopes to empower future generations, instilling a sense of financial responsibility and resilience.
MTN Pulse Announces Top 30 Youth Hustle Hub Entrepreneurs In Line To Win Their Share of R800 000
Following a rigorous two-day judging process from 252 entries, MTN has announced its Top 30 MTN Pulse Youth Hustle Hub entrepreneurs. Having already won R25 000 towards their businesses to be facilitated based on a business analysis process conducted by MTN, these Top 30 young South African from across the country will now embark on an intensive week-long mentorship programme in Johannesburg honing their business acumen, skills, and know-how.
The judging process, overseen by an auditing panel, Ngubane & Co., included an initial day where MTN South Africa team members whittled down qualifying entries to a top 50. The second judging day saw the MTN Youth Hustle Hub Mentors, Galebowe Mahlatsi of Thesis Clothing, Sibu Mabena of Duma Collective, Tlhompho Mokoena of The Wing Republic, Pat Mahlangu of Pat on Brands, and MTN's Sheila Yabo Head of Ecosystem and development at Ayoba and Leanne Morais MTN Digital Service Senior Manager select the Top final 30. Selected entrepreneurs across both days were judged on their 30-45 second video submissions promoting their "hustle."
Seun Soladoye, General Manager for Consumer Prepaid at MTN South Africa, expressed his excitement about the programme, saying: "This process has again proven that despite the challenges young South Africans face in terms of employment, there is an indomitable spirit to take a chance, or #LetsOperate as we've kept saying during this project. When I look at the work young South Africans are doing, just based on the entries we received, it truly bodes well for the future of South Africa."
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