Nokofin Blog

The industry’s top experts offer their best advice, research, how-tos, and insights – all in the name of helping you improve your financial situation and helping you become debt free.

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How to get your 2018 budget in order

Posted by Duncan Masehela on Tuesday, January 16, 2018,

Making sure you have all financial responsibilities covered can be overwhelming especially at the beginning of a new year, says Mellony Ramalho, African Bank’s group executive: sales, branch network.

The only way to get on top of your finances is to make a budget at the start of the year and stick to it.

“Learning how to budget properly and sticking to a budget is a discipline that everyone should learn. A budget should make provision for the here and now, but also include room for future g...


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Carl ‘of the dead and debt’ cooks up scheme to avoid R4m bill ​

Posted by Duncan Masehela on Wednesday, December 13, 2017,
Carl Niehaus, who is a vocal campaigner for ANC presidential hopeful Nkosazana Dlamini-Zuma, has a history of lies and bad debt. 

Political spin doctor Carl Niehaus  has been caught in yet another lie — concocting an elaborate scam to convince a businessman he owed money to that his mother had died and he was about to inherit millions.

Niehaus owes R4.3-million for rental of two luxury apartments in Sandton —   as well as damage to expensive furnishings and artwork —  unpaid concierge cha...


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Shaun Abrahams and NPA appeal court decision to set aside his appointment

Posted by Duncan Masehela on Saturday, December 9, 2017,

The National Prosecuting Authority and national director of public prosecutions Shaun Abrahams will appeal the judgment of the full bench of the Pretoria High Court in which Abrahams’ appointment was reviewed and set aside.

The judgment was delivered on Friday by Gauteng judge president Dunstan Mlambo, in which the court ordered that Zuma is too conflicted to appoint the NDPP, and that it must be done by the deputy president.

The judgment followed a review application to set aside the settlem...


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Steinhoff drops 45% as Moody’s slashes credit rating to junk

Posted by Duncan Masehela on Friday, December 8, 2017,

Steinhoff International Holdings’s shares slumped 45% in Johannesburg on Friday after Moody’s Investors Service slashed the global furniture and clothing retailer’s credit rating by four notches to junk.

The drop extends losses from a seven-day rout in the stock to 90%, wiping R213 billion ($15.5 billion) off its market value. The yield on its 800 million euro ($914 million) bonds due January 2025 rose 17 basis points to yield 9.93%.

Moody’s cut the debt from one step above investment g...


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The Billion Rand President: Jus tHow much is Jacob Zuma costing you

Posted by Duncan Masehela on Thursday, December 7, 2017,

The point of the exercise to try and derive a credible and defensible total figure for all primary direct expenses afforded to President Jacob Zuma by the Ministerial Handbook and for which the public – the taxpayer – is ultimately responsible. This is not an exact science. In every instance, I have been extremely conservative and thus, while the total figure might not represent the actual cost, I believe it certainly does represent the absolute minimum cost. Most likely, the final and ul...


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DEBT COUNSELLING

Posted by Duncan Masehela on Saturday, January 9, 2016,

Cape Town - The year 2016 holds a dire outlook for consumers, debt experts warned on Monday.

Referring to building cost pressures on severely strained consumers, DebtSafe MD Wikus Olivier told Fin24 their only means of survival will be to adopt and cultivate a simpler lifestyle.

Over and above the usual factors that impact consumers’ pockets, such as the fuel and electricity price hikes, South Africa is experiencing a severe drought which is adding to food price pressures, said Debt Rescue CE...


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