On behalf of Fairheads, I am pleased to announce that Fairheads has concluded a BEE transaction that has resulted in Vunani Capital Proprietary Limited (”Vunani”) acquiring a majority shareholding in Fairheads International Holdings (SA) (Pty) Ltd, which owns Fairheads Benefit Services (Pty) Ltd.

GLOBAL MARKETS

In the US, economic data led the Federal Reserve, at its 18 March FOMC meeting, to significantly downgrade its own interest rate outlook: its new “dot plot”, reflecting FOMC members’ own expectations, showed the new median Federal Funds rate at the end of 2015 at 0.625%, down from 1.125% in its December statement, and at 1.875% at the end of 2016 versus 2.5% previously. Consequently, market participants have pushed out their first rate hike expectations to September from June this year, while also moderating their views on the pace and extent of Fed tightening.

Davis joined Fairheads Benefit Services in the Johannesburg office in 2006 as a client liaison officer where he helped to pioneer the walk-in service offered in Commissioner Street. The service has proven highly successful and the team has grown to a total of four and Davis was promoted to key account consultant in 2013.

“Poverty touches every aspect of a child’s life. The child born into poverty almost always remains trapped there unless significant interventions occur. Left unaided, impoverished children face a lifetime of physical and psychological trauma - illiteracy, malnutrition, disease, low self-esteem and lack of opportunity. These are among the root causes of poverty that Christel House overcomes." An extract from Christel House South Africa’s mission.