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Statistics presented at the State of the Nation address showed that the Rand depreciated by 17.6% against the US dollar in 2013 and a further 5% since the beginning of 2014. With the Rand continuing to weaken against major international currencies, consumers could be put at additional risk of underinsurance, largely as a result of inflation and rising replacement costs for foreign goods and parts.
Con artists purporting to be from the “National Road Accident Fund” are soliciting confidential information from innocent members of the public, under the pretext that compensation cheques will be deposited into their personal bank accounts.
Following power utility Eskom's announcement last week that South Africans could expect to see the implementation of rolling blackouts, also known as 'load-shedding', in residential urban areas for the first time in five years, consumers are being warned to ensure they are protected against financial loss as a result of damage to electrical items caused by power surges.
Cycling is taking South Africa by storm with enthusiasts taking to the streets and participating in events that are growing in popularity such as the Cape Argus Cycle Tour (35 000 participants) and the 94.7 Cycle Challenge (30 000 participants). Many cyclists however underestimate the financial implications of having to replace lost or damaged peddle cycles and gear with top of the range cycles costing as much as R75k.
If you had to choose one approach to protect your hard-earned investment cash from today’s market madness, which would it be?