Wednesday, 25th of March, 2026
Today’s Headlines
- FNB adviser banned after client loses five hundred thousand rand
- Western Cape tables nearly ten billion rand to fast-track infrastructure
- Rate hike fears grow as Cape Town property market comes under strain
- Shosholoza Meyl future in doubt as funding dries up
- Wiese rejects Stormers return to stay with Bulls
- Wynberg Family Festival kicks off with rides, food and live shows
- Clear skies ahead with warm temperatures across the Cape
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FNB Adviser Banned After Client Lost R500K Following Misleading Financial Advice
A First National Bank (FNB) financial adviser has been formally barred from the financial services industry after a tribunal upheld findings that a client lost approximately R500,000 due to misleading and conflicted investment advice.
The case centres on adviser Anusha Singh, whose conduct was found to fall short of the “fit and proper” standards required under South Africa’s Financial Advisory and Intermediary Services (FAIS) Act. The ruling confirms that Singh acted in her own financial interest rather than in the best interests of her client, raising serious concerns about transparency and accountability within the advisory sector.
At the heart of the matter was a long-standing client who held an investment valued at approximately R2 million in a Discovery Invest Guaranteed Income Plan. The investment generated a steady monthly income of just over R9,100, forming a stable financial base for the client.
The client had initially sought to access around R50,000 from the investment. However, instead of facilitating a partial withdrawal, Singh advised that the entire policy be surrendered and transferred to a third-party entity, Value Added Solutions (VAS).
This decision resulted in the policy being sold for approximately R1.5 million. Although a portion of the proceeds was reinvested, the client ultimately suffered a capital loss of about R500,000. In addition, the client’s monthly income dropped significantly to around R7,000, weakening long-term financial stability.
Evidence presented to the tribunal revealed that Singh had a financial relationship with VAS. Between 2022 and 2024, she received payments totalling around R260,000, including at least R50,000 directly linked to the client’s transaction. These payments were not disclosed to her employer and were recorded under misleading descriptions such as “chairs”, “bicycles” and “tyres”.
The tribunal found that Singh failed to fully inform the client of all available options, including the possibility of a partial withdrawal. It also raised concerns that the client, whose first language was not English, may not have fully understood the implications of the transaction.
In its ruling, the tribunal concluded that Singh acted in clear conflict of interest and failed to uphold the ethical standards required of financial advisers. Her application to overturn the debarment was dismissed, effectively ending her ability to operate in the financial services industry.
The case is expected to reignite debate around consumer protection in financial advisory services, particularly as households face increasing financial pressure in a volatile economic environment.
Source: IOL – Sinenhlanhla Masilela
Western Cape Pushes R9.86 Billion Infrastructure Plan Amid Funding Pressures
The Western Cape government has tabled a R9.86 billion infrastructure budget, positioning it as a decisive shift toward accelerating project delivery at a time when national funding constraints continue to tighten.
Minister of Infrastructure Tertuis Simmers outlined what he described as an “acceleration agenda” for the 2026/27 financial year, centred on maintaining momentum despite increasing fiscal pressure from the national level. The plan forms part of a much larger R132 billion infrastructure pipeline aimed at reshaping the province’s long-term development trajectory.
At the core of the strategy is a structural shift in how infrastructure is funded. The proposed Western Cape Infrastructure Facility is intended to reduce reliance on national grants, which have become increasingly unpredictable. Instead, the province is looking to leverage private sector partnerships to unlock funding and move projects forward faster.
This shift signals a broader concern within the provincial government, that reliance on national transfers is no longer sustainable if delivery targets are to be met.
A significant portion of the budget, R4.56 billion, has been allocated to transport infrastructure, reflecting ongoing pressure on the provincial road network driven by population growth, economic activity and semigration into the Western Cape. At the same time, more than R2 billion has been directed toward human settlements, where housing demand continues to outpace supply.
Beyond funding, the department is attempting to address structural inefficiencies in project execution. The creation of a Provincial Housing Advisory Panel is aimed at bringing together technical expertise from both the public and private sectors to accelerate decision-making and reduce delays.
The province is also moving ahead with regulatory reforms under the Western Cape Housing Development Act, which could significantly improve the speed at which land is released and developed.
Digital tools such as the Roads4U reporting app and the upcoming EVE chatbot point to a broader push toward modernising infrastructure management, shifting from reactive maintenance to more proactive oversight.
The announcement highlights a growing reality, that infrastructure delivery in the Western Cape is no longer just about funding, but about how effectively that funding can be deployed in a constrained fiscal environment.
Source: Western Cape Government – Department of Infrastructure – Staff Reporter
Cape Town Property Market Growth Masks Rising Pressure on Buyers
Cape Town’s property market may appear resilient on the surface, but industry data suggests a growing imbalance between price growth and actual market activity, raising concerns about affordability and sustainability.
While property values have continued to climb, largely driven by semigration and demand for coastal living, transaction volumes tell a different story. Sales remain approximately 19% below levels recorded during the 2021/22 peak, indicating that fewer buyers are able to participate in the market.
This disconnect is becoming a central concern for industry leaders, particularly as the South African Reserve Bank prepares to make its next interest rate decision. The possibility of a rate hike comes at a time when economic conditions remain weak, with GDP growth still hovering at low levels and household finances under strain.
Inflation has eased to around 3.0%, well within the Reserve Bank’s target range, while the rand has maintained relative stability. Despite this, the broader economic environment remains fragile, raising questions about whether tighter monetary policy would do more harm than good.
Samuel Seeff, chairman of the Seeff Property Group, has argued that external pressures such as rising oil prices should not dictate domestic policy decisions, particularly when these factors may prove temporary.
The deeper issue lies in affordability. Buyers are already dealing with rising electricity tariffs, fuel costs and general cost-of-living increases, all of which are eroding disposable income. Even modest increases in interest rates could significantly impact monthly bond repayments, reducing purchasing power across the market.
Mortgage data supports this trend. While the total value of home loans has shown slight improvement, the number of applications remains well below historical levels, suggesting that demand is constrained not by interest, but by financial capacity.
For Cape Town, the concern is clear, continued price growth without matching buyer activity may not be sustainable. If borrowing costs rise further, the market could face a sharper slowdown, with knock-on effects for construction, employment and broader economic activity.
Source: IOL – Murray Swart
Shosholoza Meyl Decline Highlights Deeper Crisis in Long-Distance Rail
The uncertain future of Shosholoza Meyl is increasingly being seen as a reflection of deeper structural issues within South Africa’s rail network, where ageing infrastructure and declining investment continue to undermine long-distance travel.
Once a key component of affordable intercity transport, the service has struggled to recover since its suspension in 2020 following a fatal train collision. Although limited routes were reintroduced in subsequent years, reliability has remained a major concern, with repeated breakdowns, delays and cancellations eroding public confidence.
The Passenger Rail Agency of South Africa has indicated that a limited long-distance service could return by 2027, but questions remain over whether the necessary resources and infrastructure will be in place to support a sustainable operation.
At the centre of the problem is an ageing fleet of diesel locomotives, many of which are no longer capable of maintaining consistent service. Maintenance challenges and capacity constraints have left PRASA unable to guarantee reliability, a critical requirement for long-distance travel.
Funding trends suggest that the situation may worsen before it improves. National Treasury allocations are increasingly being directed toward commuter rail systems such as Metrorail, which serve higher passenger volumes in urban areas. As a result, investment in long-distance rail is being scaled back.
Spending on new locomotives is expected to decline significantly over the next three years, while refurbishment programmes have already been reduced, limiting the ability to extend the lifespan of existing assets.
For passengers, the impact is immediate. The absence of a reliable rail option removes one of the few affordable alternatives to air and long-distance bus travel, particularly for lower-income travellers.
The future of Shosholoza Meyl now depends not only on technical fixes, but on whether long-distance rail remains a priority within South Africa’s broader transport strategy.
Source: GroundUp / Cape Etc – Jacques Malherbe
Wiese Chooses Stability Over Return as Stormers Miss Out on Key Forward
The Stormers have missed out on a potential squad boost after Springbok forward Cobus Wiese confirmed he will remain with the Bulls, opting for stability over a return to Cape Town.
Wiese, who built his early professional career with Western Province and the Stormers between 2017 and 2020, had been linked with a move back to the Western Cape. The interest was part of a broader effort by the Stormers to reinforce their forward pack ahead of upcoming United Rugby Championship commitments.
Instead, the twenty nine-year-old has committed to a three-year extension with the Bulls, a decision that reflects not just rugby considerations, but personal priorities as well.
Since returning to South Africa in 2024 after his stint with English club Sale Sharks, Wiese has established himself as a consistent presence in the Bulls setup. His performances have also placed him firmly within the national picture, earning a Test debut in 2025 and inclusion in Springbok alignment camps as preparations build toward the 2027 Rugby World Cup.
The decision to remain in Pretoria appears to be driven largely by family stability. Wiese has indicated that with a young family now settled, including children in school, the prospect of relocation carries far greater weight than earlier in his career.
At the same time, the influence of Bulls head coach Johan Ackermann has played a role in shaping his decision, reinforcing confidence in the current environment and long-term setup.
For the Stormers, the outcome represents a missed opportunity to bring back a player familiar with their structures and culture. It also highlights the increasing challenge of retaining and attracting top-tier talent in a competitive domestic landscape.
Source: Rugby365 – Angus Opperman
Wynberg Family Festival Set to Draw Crowds to Maynardville Park
Maynardville Park in Wynberg is expected to draw large crowds this weekend as the Wynberg Family Festival returns with a three-day programme aimed at blending entertainment, community engagement and local business support.
Positioned as a community-focused event, the festival is designed to bring together families, residents and visitors in a structured and accessible environment. Organisers have placed emphasis on creating a space that caters to a wide audience, with activities and attractions spanning multiple age groups.
The event will feature a continuous programme of live entertainment, alongside amusement rides and interactive attractions aimed at younger visitors. A significant component of the festival is its food offering, with a curated selection of vendors providing a range of options, reflecting Cape Town’s diverse food culture.
Local businesses and exhibitors will also be present, using the event as an opportunity to connect directly with the community, promote products and build visibility in a high-footfall environment.
Running from Friday through to Sunday, the festival extends into the evening on selected days, allowing for both daytime family attendance and a more relaxed evening atmosphere.
Events such as these continue to play an important role in local economies, particularly in supporting small businesses and driving community interaction. For Wynberg, the festival represents both a social and economic boost, bringing increased activity to the area over the weekend period.
With ticket prices starting from R50, organisers expect steady attendance across all three days, supported by favourable weather conditions and strong local interest.
Source: Southern Mail / Cycle of Life Cape Town Events – Staff Reporter
Financial Markets:
Clear, Warm Conditions Set the Tone for Thursday Across the Western Cape
The Western Cape is set for a stable and pleasant weather pattern on Thursday, with clear skies expected throughout the day and warm temperatures across key regions.
In Cape Town, conditions will remain mild, with a daytime high of 23°C and a low of 16°C. Inland areas will experience slightly warmer temperatures, with Paarl reaching 27°C and Stellenbosch peaking at 25°C, both dropping to 12°C overnight.
The absence of cloud cover will result in consistent sunshine from morning through to evening, with no rainfall expected and a 0% chance of precipitation. While conditions will be dry, humidity levels are forecast to remain relatively high at around 85%, which may create a slightly heavier feel in the air, particularly during the early morning and evening periods.
Winds will be moderate, blowing from the north-northwest at approximately 20 km/h, contributing to generally comfortable outdoor conditions.
Along the coastline, ocean activity remains moderate, with a south-westerly swell of 1.8 metres and a 10-second period. These conditions should be manageable for most coastal activities, although caution is always advised.
Tide patterns show low tide at 03:06 and again at 16:13, with high tide expected at 09:22 and 22:38.
Sunrise is set for 06:54, with sunset at 18:49, offering a full day of daylight.
The UV index is forecast to reach a very high level of 8, meaning sun protection will be essential for anyone spending extended periods outdoors.
Source: South African Weather Service – SAWS
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TODAY’S NEWS SOURCES:
Crime Report – IOL – Sinenhlanhla Masilela
Provincial News – Western Cape Government – Department of Infrastructure
City News – IOL – Murray Swart
Traffic Updates – GroundUp / Cape {town} Etc – Jacques Malherbe
WP Sport – Rugby365 – Angus Opperman
Local Events – Southern Mail / Cycle of Life Cape Town Events
Weather Forecast – South African Weather Service – SAWS
MONEY MARKET SOURCES:
Currencies: FNB FX – FirstRand Bank Ltd
Commodities: Goldbroker.com – Gold Broker Ltd
Crypto Market: Binance.com – Binance Holdings Ltd
CTNews will continue to track these stories and bring updates as new information becomes available. For the latest bulletin remember to subscribe to our YouTube channel and visit ctnews.co.za for daily coverage and special features
Chief News Editor: Mark Botes-Lashmar
Written by: CTNews team
Publisher: Cape Town News
Region: Cape Town and Western Cape, South Africa
Contact: editorial@ctnews.co.za
