Latest news with #R1.18
The South African
12 hours ago
- The South African
This travel trend generated over R1 billion for SA tourism in 2024
If you love luxury and the great outdoors, this travel trend is probably on your bucket list. Glamping, a luxurious blend of glamour and camping, is currently having its moment in the spotlight. Glamping allows travellers to experience nature up close. However, unlike regular camping, glamping allows travellers to enjoy modern conveniences and luxury. Many glamping tents even look like luxury homes. South African Tourism reports that the local glamping industry generated an estimated $65.8 million (approximately R1.18 billion) in 2024. That's being highlighted ahead of Africa's first Glamping Expo, which is set to take place later this week. Furthermore, the glamping travel trend will only grow in the coming years. Based on a market report by Grand View Research, South African Tourism expects the industry to be worth $89.5 million by 2030. It's mainly millennials and Gen Zs who love this travel trend. This age group famously appreciates quirky, experience-based travel options. Certainly, glamping provides a unique sense of closeness to the outdoors, with some sites offering nights under starry Karoo skies or the opportunity to see wild animals. In a first for the continent, the Glamping Expo takes place on 20-21 June at the Johannesburg Expo Centre. South African Tourism and Gauteng Tourism Authority are supporting the event as part of efforts to promote rural development and diversify the country's tourism attractions. Delegates will gather under the theme 'Reimagining Innovation & Regenerative Tourism'. This aims to spotlight how the glamping travel trend can support sustainable tourism development. South Africa is a hotspot for glamping innovation in the Global South. This is thanks to the availability of luxury travel experiences and a growing emphasis on sustainability. Let us know by leaving a comment below or send a WhatsApp to 060 011 0211. Subscribe to The South African website's newsletters and follow us on WhatsApp, Facebook, X, and Bluesky for the latest news.
The Citizen
02-05-2025
- Business
- The Citizen
FSCA debars financial adviser for five years, fines him R1.1 million
Nobody is allowed to act as a financial service provider and give financial advice without being registered with the FSCA. The FSCA has debarred a financial advisor and fined him R1.18 million for working as a financial services provider without being registered. The Financial Sector Conduct Authority (FSCA) debarred Pierre Erasmus for five years and imposed an administrative penalty that includes the cost of the FSCA's investigation. The FSCA already warned the public in November 2023 to act with caution when conducting financial services business with FX Squad, which was not registered as a company and Petrus Rasmus Erasmus, known as Pierre. In its warning the FSCA said it received information that Erasmus and FX Squad offered to trade in forex on behalf of consumers and that Erasmus and FX Squad may be conducting unregistered financial services and/or the business of a bank by taking deposits from members of the public. 'The investigated parties are not authorised to render any financial advisory and/or intermediary services in terms of the Financial Advisory and Intermediary Services Act and are also not registered as banks in terms of the Banks Act,' the FSCA said. ALSO READ: FSCA warns consumers about investments with these unregistered entities FSCA investigation showed Erasmus collected funds like a bank The evidence collected during the FSCA's investigation showed that Erasmus offered his services and acted as a financial services provider without authorisation. The FSCA says in a statement that Erasmus collected funds from members of the public (clients) and used it to trade in contracts for difference (CFDs). According to Investopedia, a CFD is an arrangement made in financial derivatives trading where the differences in the settlement between the open and closing trade prices are cash-settled, while there is no delivery of physical goods or securities. The FSCA says he incurred substantial losses during his trading activities. Erasmus also gave financial advice to his clients by providing them with trading signals. A trade signal is a trigger to buy or sell a security and is generated by various analyses, such as technical indicators and mathematical algorithms, according to Investopedia. Many clients incurred losses when they traded in CFDs based on Erasmus' advice. The FSCA found in its investigation that Erasmus contravened section 7(1)(a) of the Financial Advisory and Intermediary Services (FAIS) Act in a material way. The practice of providing trading signals amounts to financial advice and that requires a financial services provider licence in terms of the FAIS Act. ALSO READ: FSCA dishes out fines for R2.1 million, R1.6 million and R200 000 How to check if someone is registered and licensed The FSCA says consumers should always check: That an entity or individual is authorised by the FSCA to provide financial products and services, including giving recommendations about how to invest; What category of advice the person is registered to provide, as there are instances where companies or people are registered to provide basic advice for a low-risk product and then offer advice on far more complex and risky products; and That the financial services provider (FSP) number the entity or individual offering financial services uses matches to the name of the FSP on the FSCA database. You can confirm the status and FSP number of a service provider or someone who claims to be an authorised service provider by calling the FSCA on its toll-free number at 0800 110 443. You can also do an online check for an authorised financial institution by licence category at or an online search for a financial institution that is an authorised FSP in terms of the FAIS Act at
