Latest news with #SouthAfrica-based
IOL News
2 days ago
- Business
- IOL News
Sanlam reports strong operational performance amid geopolitical tensions
Sanlam, South Africa-based financial services groups operating in 31 emerging markets, said it had performed strongly in the first quarter of its financial year to end-March, and had substantially bolstered its discretionary capital. Sanlam on Thursday announced a strong start in its operational update for the three months to March 31, 2025, in a period marked by escalating geopolitical tensions and shifting economic policies. Earnings, excluding investment return on shareholder funds, for South Africa's biggest non-banking financial services group increased 15%, while operational earnings, including these investment returns, increased by 22%. New business volumes were up by 15%. 'While we are pleased with the performance across all business lines, we are concerned about more serious and long-ranging impacts arising from the tariff policies. It is too early to provide any meaningful update to our earnings considering the uncertainties regarding the impacts of the tariff disputes,' CEO Paul Hanratty said in the quarterly update.
Glasgow Times
3 days ago
- Sport
- Glasgow Times
Why Rangers fans owe ex-Ibrox chairman Dave King a debt of gratitude
Seeing Dave King, the then Rangers chairman, waiting to board a flight in Frankfurt Airport alongside dozens of Celtic fans as I returned from a Europa League play-off match in Stockholm back in 2019 was a downright bizarre, not to mention slightly concerning, sight. The improbable coming together of the two parties came, to pour further fuel onto an already combustible concoction, just two days before the bitter rivals met at Ibrox in the opening Old Firm game of the season. What could possibly go wrong? Quick, somebody call security! Mercifully, things passed off without incident. The Parkhead supporters, still elated in the wake of an emphatic 4-1 win over AIK which had secured their qualification for the group stages, were tickled by the unexpected encounter. King, meanwhile, appeared delighted by the attention. He happily posed for photographs, signed autographs, shook hands and chatted about the weekend fixture. Relations between the South Africa-based financier and Rangers fans have not always been quite so convivial. The scathing criticism which he has regularly aimed at his erstwhile associates on the board from afar since standing down as chairman five years ago have not gone down well in the Govan stands. Read more: There has not been a lot of love for Douglas Park, John Bennett and their fellow directors of late as Celtic have continued to dominate the Scottish game. Still, the very public potshots which their old ally has taken at them have not met with widespread approval. Quite the opposite. The general feeling is that his constant sniping has done nothing to help their cause and has even made them something of a laughing stock. He has tarnished his reputation. John Gilligan stated what many were thinking when he chatted to the media after being appointed interim chairman back in September. 'I just say to Dave, 'Please take it below the radar, behave like a proper shareholder, don't do what you are doing',' he said. 'It's just a shame because he is a great character and he had a massive influence on the club.' The narrative which King has consistently aired - that all was going swimmingly on the good ship Rangers when he, his work at his boyhood heroes complete, had sailed off into the sunset and his successors had shamefully taken their hands off the tiller and lost their bearings in his absence – was flawed. Those who came after him would argue they were left in the lurch, that they were forced to sort out the almighty mess they inherited, that he had high tailed it to the Highveld in their hour of need. Park and Bennett have certainly stumped up millions, tens of millions in fact, to keep them afloat since his sudden exit. (Image: SNS Group Craig Williamson) That came after he was 'cold-shouldered' – a punishment which meant that no company or individual authorised by the Financial Conduct Authority was allowed to act on his behalf - by the Takeover Panel for four years for acting in concert with Park, George Letham and George Taylor when he seized power in 2015. Would the majority shareholder have been able to continue in his role? Everything about the Glasgow-born, Castlemilk-raised businessman, it sometimes seemed, was shrouded in uncertainty. He was an enigmatic as well as an egotistical operator and then some. His tenure was beset by off-field legal wrangles, petty squabbles and internal strife. He was more mercurial than the flakiest winger who arrived on his watch. All of that said, there is a great deal that he can look back on and be immensely proud of. That day we bumped into each other in Frankfurt, for instance, he spoke stridently about ridding Rangers of the scourge of sectarianism. They had just been ordered by UEFA to close off 3,000 seats in the second leg of their Europa League play-off match against Legia Warsaw for the 'racist' behaviour of their fans in the qualifier against St Joseph's the previous month. The 'please stay away' statement which had been released sent out a very strong message to the 'FTP brigade' indeed. Chants about 'Fenian b*******' persist on match days. Still, King did not, despite the risk of angering a sizeable portion of the fanbase, shy away from the thorny issue. On top of that, he invested considerable sums of his own personal fortune, offset heavy annual losses, in an attempt to make Rangers a major force again domestically and in Europe. Read more: Bringing in Steven Gerrard as manager proved to be nothing short a masterstroke. The former Liverpool and England captain proved to be a huge personality who was unfazed by the scrutiny he was under, lifted everyone around him and drove up standards. The former Champions League winner enjoyed success on the continent and ultimately delivered the Scottish title. But most importantly Dave King, with a little help from Gilligan, Letham, Paul Murray, Park, Taylor and others, stepped up when Rangers needed him to and wrested control of the Ibrox club away from a despised and distrusted regime at a time when they were hurtling head first towards another cataclysmic financial implosion. The Scot has sold up his stake to a consortium of investors that comprises American billionaire Andrew Cavenagh and the San Francisco 49ers and severed his ties completely. But he will forever be owed a debt of gratitude for the important part he played in ensuring their survival. If he ever boards a flight to Glasgow to take in a game, he should be greeted as warmly as he was by those stunned Celtic fans in Germany.
The Herald Scotland
3 days ago
- Sport
- The Herald Scotland
Why Rangers fans owe ex-Ibrox chairman Dave King a debt of gratitude
The improbable coming together of the two parties came, to pour further fuel onto an already combustible concoction, just two days before the bitter rivals met at Ibrox in the opening Old Firm game of the season. What could possibly go wrong? Quick, somebody call security! Mercifully, things passed off without incident. The Parkhead supporters, still elated in the wake of an emphatic 4-1 win over AIK which had secured their qualification for the group stages, were tickled by the unexpected encounter. King, meanwhile, appeared delighted by the attention. He happily posed for photographs, signed autographs, shook hands and chatted about the weekend fixture. Relations between the South Africa-based financier and Rangers fans have not always been quite so convivial. The scathing criticism which he has regularly aimed at his erstwhile associates on the board from afar since standing down as chairman five years ago have not gone down well in the Govan stands. Read more: There has not been a lot of love for Douglas Park, John Bennett and their fellow directors of late as Celtic have continued to dominate the Scottish game. Still, the very public potshots which their old ally has taken at them have not met with widespread approval. Quite the opposite. The general feeling is that his constant sniping has done nothing to help their cause and has even made them something of a laughing stock. He has tarnished his reputation. John Gilligan stated what many were thinking when he chatted to the media after being appointed interim chairman back in September. 'I just say to Dave, 'Please take it below the radar, behave like a proper shareholder, don't do what you are doing',' he said. 'It's just a shame because he is a great character and he had a massive influence on the club.' The narrative which King has consistently aired - that all was going swimmingly on the good ship Rangers when he, his work at his boyhood heroes complete, had sailed off into the sunset and his successors had shamefully taken their hands off the tiller and lost their bearings in his absence – was flawed. Those who came after him would argue they were left in the lurch, that they were forced to sort out the almighty mess they inherited, that he had high tailed it to the Highveld in their hour of need. Park and Bennett have certainly stumped up millions, tens of millions in fact, to keep them afloat since his sudden exit. (Image: SNS Group Craig Williamson) That came after he was 'cold-shouldered' – a punishment which meant that no company or individual authorised by the Financial Conduct Authority was allowed to act on his behalf - by the Takeover Panel for four years for acting in concert with Park, George Letham and George Taylor when he seized power in 2015. Would the majority shareholder have been able to continue in his role? Everything about the Glasgow-born, Castlemilk-raised businessman, it sometimes seemed, was shrouded in uncertainty. He was an enigmatic as well as an egotistical operator and then some. His tenure was beset by off-field legal wrangles, petty squabbles and internal strife. He was more mercurial than the flakiest winger who arrived on his watch. All of that said, there is a great deal that he can look back on and be immensely proud of. That day we bumped into each other in Frankfurt, for instance, he spoke stridently about ridding Rangers of the scourge of sectarianism. They had just been ordered by UEFA to close off 3,000 seats in the second leg of their Europa League play-off match against Legia Warsaw for the 'racist' behaviour of their fans in the qualifier against St Joseph's the previous month. The 'please stay away' statement which had been released sent out a very strong message to the 'FTP brigade' indeed. Chants about 'Fenian b*******' persist on match days. Still, King did not, despite the risk of angering a sizeable portion of the fanbase, shy away from the thorny issue. On top of that, he invested considerable sums of his own personal fortune, offset heavy annual losses, in an attempt to make Rangers a major force again domestically and in Europe. Read more: Bringing in Steven Gerrard as manager proved to be nothing short a masterstroke. The former Liverpool and England captain proved to be a huge personality who was unfazed by the scrutiny he was under, lifted everyone around him and drove up standards. The former Champions League winner enjoyed success on the continent and ultimately delivered the Scottish title. But most importantly Dave King, with a little help from Gilligan, Letham, Paul Murray, Park, Taylor and others, stepped up when Rangers needed him to and wrested control of the Ibrox club away from a despised and distrusted regime at a time when they were hurtling head first towards another cataclysmic financial implosion. The Scot has sold up his stake to a consortium of investors that comprises American billionaire Andrew Cavenagh and the San Francisco 49ers and severed his ties completely. But he will forever be owed a debt of gratitude for the important part he played in ensuring their survival. If he ever boards a flight to Glasgow to take in a game, he should be greeted as warmly as he was by those stunned Celtic fans in Germany.
The National
3 days ago
- Sport
- The National
Why Rangers fans owe ex-Ibrox chairman Dave King a debt of gratitude
Seeing Dave King, the then Rangers chairman, waiting to board a flight in Frankfurt Airport alongside dozens of Celtic fans as I returned from a Europa League play-off match in Stockholm back in 2019 was a downright bizarre, not to mention slightly concerning, sight. The improbable coming together of the two parties came, to pour further fuel onto an already combustible concoction, just two days before the bitter rivals met at Ibrox in the opening Old Firm game of the season. What could possibly go wrong? Quick, somebody call security! Mercifully, things passed off without incident. The Parkhead supporters, still elated in the wake of an emphatic 4-1 win over AIK which had secured their qualification for the group stages, were tickled by the unexpected encounter. King, meanwhile, appeared delighted by the attention. He happily posed for photographs, signed autographs, shook hands and chatted about the weekend fixture. Relations between the South Africa-based financier and Rangers fans have not always been quite so convivial. The scathing criticism which he has regularly aimed at his erstwhile associates on the board from afar since standing down as chairman five years ago have not gone down well in the Govan stands. Read more: There has not been a lot of love for Douglas Park, John Bennett and their fellow directors of late as Celtic have continued to dominate the Scottish game. Still, the very public potshots which their old ally has taken at them have not met with widespread approval. Quite the opposite. The general feeling is that his constant sniping has done nothing to help their cause and has even made them something of a laughing stock. He has tarnished his reputation. John Gilligan stated what many were thinking when he chatted to the media after being appointed interim chairman back in September. 'I just say to Dave, 'Please take it below the radar, behave like a proper shareholder, don't do what you are doing',' he said. 'It's just a shame because he is a great character and he had a massive influence on the club.' The narrative which King has consistently aired - that all was going swimmingly on the good ship Rangers when he, his work at his boyhood heroes complete, had sailed off into the sunset and his successors had shamefully taken their hands off the tiller and lost their bearings in his absence – was flawed. Those who came after him would argue they were left in the lurch, that they were forced to sort out the almighty mess they inherited, that he had high tailed it to the Highveld in their hour of need. Park and Bennett have certainly stumped up millions, tens of millions in fact, to keep them afloat since his sudden exit. (Image: SNS Group Craig Williamson) That came after he was 'cold-shouldered' – a punishment which meant that no company or individual authorised by the Financial Conduct Authority was allowed to act on his behalf - by the Takeover Panel for four years for acting in concert with Park, George Letham and George Taylor when he seized power in 2015. Would the majority shareholder have been able to continue in his role? Everything about the Glasgow-born, Castlemilk-raised businessman, it sometimes seemed, was shrouded in uncertainty. He was an enigmatic as well as an egotistical operator and then some. His tenure was beset by off-field legal wrangles, petty squabbles and internal strife. He was more mercurial than the flakiest winger who arrived on his watch. All of that said, there is a great deal that he can look back on and be immensely proud of. That day we bumped into each other in Frankfurt, for instance, he spoke stridently about ridding Rangers of the scourge of sectarianism. They had just been ordered by UEFA to close off 3,000 seats in the second leg of their Europa League play-off match against Legia Warsaw for the 'racist' behaviour of their fans in the qualifier against St Joseph's the previous month. The 'please stay away' statement which had been released sent out a very strong message to the 'FTP brigade' indeed. Chants about 'Fenian b*******' persist on match days. Still, King did not, despite the risk of angering a sizeable portion of the fanbase, shy away from the thorny issue. On top of that, he invested considerable sums of his own personal fortune, offset heavy annual losses, in an attempt to make Rangers a major force again domestically and in Europe. Read more: Bringing in Steven Gerrard as manager proved to be nothing short a masterstroke. The former Liverpool and England captain proved to be a huge personality who was unfazed by the scrutiny he was under, lifted everyone around him and drove up standards. The former Champions League winner enjoyed success on the continent and ultimately delivered the Scottish title. But most importantly Dave King, with a little help from Gilligan, Letham, Paul Murray, Park, Taylor and others, stepped up when Rangers needed him to and wrested control of the Ibrox club away from a despised and distrusted regime at a time when they were hurtling head first towards another cataclysmic financial implosion. The Scot has sold up his stake to a consortium of investors that comprises American billionaire Andrew Cavenagh and the San Francisco 49ers and severed his ties completely. But he will forever be owed a debt of gratitude for the important part he played in ensuring their survival. If he ever boards a flight to Glasgow to take in a game, he should be greeted as warmly as he was by those stunned Celtic fans in Germany.
Glasgow Times
4 days ago
- Sport
- Glasgow Times
Dave King: Rangers players let Barry Ferguson down
The South Africa-based businessman, however, had no qualms with Ferguson's conduct on the touchline and was pleased with the former club legend's evident passion. Speaking to the Rangers Review, King said: "It was actually heart-warming to see someone on the sidelines that really was emotional and passionate. "You could just see in his face how much he wanted it." Read more: However, King felt that the players did not show the same enthusiasm. "The squad let him down. "As much as we'd probably all accept the fact that the quality of the squad has gone down, they're still better than they produced. "They should be better than they were." He further expressed his disappointment, saying: "Once you cross that white line and you're playing for the fans, I just think every player should be playing at his best. "It doesn't always happen, but the team just looked like they were trying sometimes. "It was really, really disappointing." King was, however, heartened by Ferguson's dedication. "I'd say I was heartened to at least see the level of passion and almost hurt in Barry's face at the way they were performing on the day. "It came down to a lack of backbone, I think, and just them not trying their heart out." It was confirmed shortly after his interim spell that Ferguson would not be getting the permanent Rangers job. The club is yet to announce who will take the reins at Ibrox this summer, with names like Steven Gerrard and Davide Ancelotti linked to the position.
