The Sanlam Benchmark report has revealed a loss of confidence in South Africas financial institutions. According to the report, many of its respondents confidence in the country and its financial institutions is slowly fading away.
Sanlam Umbrella Solutions Managing Executive, Nzwa Shoniwa says the findings show that people are calling for better governance to restore faith and address the trust crisis head-on.
South Africas stability and future depends on the ethical stewardship of its peoples finances, says Shoniwa.
Sanlam Corporate Chief Executive Officer, Kanyisa Mkhize says accelerating a better working South Africa means focusing on prevention rather than cure.
Confidence slowly fading awayThe key findings of the report indicate that 60 of pensioners do not believe the countrys challenges will be resolved within their lifetime, with most believing corruption is the root of the cause of these challenges. Respondents also said they feel like they are financially vulnerable or exploited. Pensioners said they were worried about not having sufficient funds to live comfortably. Some were worried about their deteriorating health.
