BankservAfrica press releases

BankservAfrica at Seamless Africa 2019

SEAMLESS AFRICA 2019 (12 & 13 March 2019) (Cape Town International Convention Centre)

SA’s take-home pay was ‘okay’ in 2018

Take-home pay in 2018 was neither good or bad however the year did prove the most difficult for salary adjustments in the last five years, according to BankservAfrica’s data. Banked private pensions, however, continued to reflect growth throughout the year.

Black Friday saved the economy in November

The South African economy grew slightly in November, according to the BankservAfrica Economic Transaction Index (BETI) which showed growth over the three measurement periods, which is most likely the result of retail sales over the Black Friday and Cyber Monday period.

Real take-home pay shows surprising decline in October

The number of take-home payments into bank accounts decreased in October and resulted in declining take-home pay amounts, according to the latest BankservAfrica Take-home Pay Index. This could be a result of the weak economy - where salaries are unable to keep up with the rate of inflation – and the lower employment figures. 

Slower but positive increase for take-home pay in September

Take-home pay in September increased at a slower rate than August due to the majority of backdated government salaries having been paid out. Interestingly, the BankservAfrica data reveals that there have been minimal increases to the average take-home pay since September 2013 – providing a strong indication of the struggling economy in the last five years.

Take-home pay reflects massive increase in August

The backdated salary payments in the public sector continued to spur the increase in BankservAfrica’s Take-home Pay Index for August. Real salaries showed improvements on both an annual and monthly basis.

BankservAfrica’s monthly index reflects SA’s technical economic recession

“The monthly BETI is a now indicator that tracks South Africa’s economic performance in near, real-time terms, using BankservAfrica economical transactional data against South Africa’s main economic growth drivers,” explains Shergeran Naidoo, Head of Stakeholder Engagement: BankservAfrica. “As such, by way of the BETI we were able to track the declines on both data sets that revealed the below par performance of the economy. There were, however, some changes on the BankservAfrica index such as the salary changes which led to an increase in consumer spending, and is reflected as growth in the BETI.

SA’s take-home pay improves

South Africa’s take-home pay for July reflected a 0.3% real month-on-month improvement due to salary adjustments and back payments for public servants, according to BankservAfrica’s monthly Take-home Pay Index in July. Meanwhile, BankservAfrica’s Private Pensions Index (BPPI) showed average increases at its strongest levels since 2012.