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Making friends with a strange new world

The world is changing at lightning-fast pace, with technology continuing to make an indelible mark on our day-to-day lives.
In this issue we take a look at some of these disruptors, with perhaps the most topical centering on cryptocurrencies and the blockchain technology which underpins this innovation. As part of a new investment trends segment, we also turn our attention to megatrends impacting the investment space, political, social, environmental and demographic game changers which we continue monitor. We get the ball rolling with a look at 'globesity'.
At RMB Private Bank we understand that our innovation must keep up with this fastchanging modern world, which is why are delighted to tell you more about nav» Car, which creates a new world of digital convenience for you within the RMB Private Bank ecosystem. And we also take a look at Secure Chat, the closest and most convenient way for you to speak to a team of Support Bankers any time of day and night.
Across all these innovations, however, the importance of secure channels and ongoing protection of your personal identity information and digital devices has never been more critical. So, in this newsletter, we highlight not only the possibilities but look to arm you with essential tips to ensure your cyber security.
In the wake of a 25 basis point drop in the repo rate, we also take this opportunity to take a closer look at what this new cycle might mean for bonds.
Finally, there are some vinous delights on offer from eBucks Lifestyle and we gear up for RMB WineX 2017, taking place from 25-27 October 2017.
We welcome your feedback about these articles, which we hope you find absorbing and relevant.


Trends that change the way we live, work and invest

You wouldn't put your money into a new product, company or sector without asking some key questions, would you? Well, neither would your financial advisor. This is why so much of our time at RMB Private Bank goes into dissecting long-term political, environmental, social and demographic 'megatrends'; developments which can impact your long-term investment returns.
There are a range of megatrends which RMB Private Bank keeps on its radar, says RMB Private Bank's expert Chantal Marx, Head of Research at FNB Securities. "Some are quite in-depth, such as the emergence of the sharing economy, demographic changes, the rise of 'globesity', energy and other scarce resources, the impact of disruptive technology and how Millennials are changing consumption patterns," she says. While others are more general. All, however, have the potential to change the way we live, work and invest.
In forthcoming newsletters we'll take the time to outline a number of these megatrends, giving our views and insights into the possible implications. From a South African perspective many of these global developments are likely to impact our society too, some for the better and others less so. For example, globesity - the increase in obesity around the world - is just one example of a ticking time bomb with a possible upside for astute investors.
Research from Wits University's Priceless research unit in 2016 tells us that obesity related diseases, like heart disease and diabetes, are now responsible for 13.1% of deaths in South Africa. Compared with 13.8% attributable to HIV/Aids complications. This, says Marx, makes globesity of particular importance to the health of South Africa's citizens and also impacts healthcare resources, pharmaceutical companies and medical aids.
But it's not all bad news. With statistics from the Heart and Stroke Foundation telling us that South Africans are the heftiest in sub-Saharan Africa - with 70% of women and about 33% of men being classified as overweight or obese - this has spurred on a counter trend towards health consciousness.
"In emerging markets we have a disparity of income," explains Marx, and an associated disparity in trends. "Higher income individuals are generally in the healthier phase and they are teaching their kids these lifestyle behaviours. And while fast food is still a megatrend for this group, their choices are more health conscious, for example shopping at Woolies or Kauai or using systems like dinner kit delivery service UCook."
These healthier habits are increasing the uptake of wearables too, she explains, highlighting the likes of Garmin and Fitbit fitness trackers, which are, in turn, providing benefits for the insurance industry. "Discovery, for example, is using this data to improve its actuarial efficiencies," explains Marx. Adding these devices into the medical aid mix also makes consumers 'stickier' when it comes to retaining and using memberships to fitness and health clubs. This, says Marx, also keeps up demand for athletic-leisure wear, a bandwagon onto which the likes of Adidas, Reebok and Under Armour have been quick to jump onto in recent years. This specialisation also extends to the type of clothing that fitness fanatics need for yoga versus Crossfit versus spinning.
On the other end of the spectrum are South Africans for whom fast foods - not a Fitbit - represent an 'aspirational' lifestyle choice and, of course, there are also those who find it cheaper to eat convenience foods that to buy fresh produce. "Companies like Famous Brands benefit at this lower end of the market," says Marx. "Pharmaceutical companies and health groups benefit in the middle, although it's a challenge for medical aid companies because a lot of these individuals are employed and covered by medical aid."
After unpacking these divergent themes, the skill comes down to carefully distinguishing between a trend and a fad. Fads don't change the way people live, says Marx, but trends like globesity do. "At RMB Private Bank our job is to adapt to these things, to take them seriously and to spot the opportunities." It's research and analysis like this that highlights the current - and long term - potential of a group like Brait, (which owns Virgin Active), Holdsport, Mr Price Sport, Discovery and offshore companies like Apple and Fitbit. It's this approach that keeps RMB Private Bank' investments thinking one step ahead of the pack.


The surge of cryptocurrency

Even digital currency sceptics are being won over by the rampant surge of cryptocurrency Bitcoin over the past 12 months, a rise which saw its value touch US$5,000 a few weeks ago before coming down quite significantly to below $3,000 and now stands at just below $4,000, having overtaken the price of gold in March.
Despite the volatility of cryptocurrencies like Bitcoin, Litecoin, Dash and Ethereum - and volatile they are, with any hint of uncertainty pushing their prices up or down significantly - these digital currencies, which operate independently of any central bank, have surged into our collective financial lexicon in recent months on the back of uncertainty over issues like the United States and North Korea, Brexit and rising global tensions, says John Joyce, Portfolio Manager at Ashburton Investments. "This is not unlike the reaction we see from gold as a haven during uncertain times," he says.
The value of Bitcoin lies in the fact that just 21 million Bitcoins will only ever 'be mined', so, like gold, supply is limited. This gives them value. Some, like the Chinese central bank, argue that while Bitcoin's value makes it an asset, it is still not a currency and that regulation is needed. In mid-2017 German central bank member Carl-Ludwig Thiele told Handelsblatt newspaper that: "Bitcoin is a means of exchange which is not issued by a central bank, but by unidentified actors. I do not see it as a currency. If you think Bitcoin would be as safe as the euro or the dollar, you have to take responsibility for it." Some would argue that digitisation of banking has already desensitised consumers to the need to hinge a currency to a concrete, physical value or, indeed, to a central bank, opening the door for what JP Morgan calls "the audacity of Bitcoin", which is "a stateless, virtual and peer-to-peer currency".
Equally important is the imperative technology behind the likes of Bitcoin. Blockchain technology, which was originally devised as the system behind Bitcoin, is essentially a public ledger of information duplicated thousands of times over a network of computers. The data isn't stored in one place, rather it is hosted on thousands of computers at the same time.
Farzam Ehsani, Blockchain Lead for RMB, is a recognised authority on blockchain technology and believes it will be as transformative to the global financial system as the internet has been to the world. "Blockchain is the underlying technology that allows a distributed and decentralised community to come to consensus about the true state of a system," he explains. "Bitcoin is an asset on top of this technology. Other assets can also use these consensus protocols and technology."
It's because blockchain data is not centralised and can't be hacked or disrupted at a single point, that it's become such a sought-after technology. So much so that even Bitcoin sceptics like American tech billionaire Mark Cuban recently told Bloomberg News that he'd be investing in 1confirmation, a fund which aims to raise US$20 million to invest in blockchain companies. Cuban might not rate Bitcoin, but he believes blockchain is a "foundation platform from which great applications can be built".
Ehsani points to the home buying process as one sector that is inevitably going to be disrupted by blockchain. "Imagine the ability of buying or selling a house and it being transferred into your name not in weeks or months, but in a matter of seconds or minutes. To me this is not some crazy theory, this will be reality in the not too distant future. It is just a matter of time."
Similarly, Joyce notes that the emergence of cryptocurrencies could be a significant disruptor to the banking system as we know it. "These currencies bypass the bank," he explains. While banks are unlikely to disappear as a result, being cut out of the loop will have adverse consequences for the traditional system. This is why banking groups like FirstRand are quick to investigate the potential of blockchain.
The implications of blockchain on banking, believes Ehsani, include disrupting payments - which currently makes up about 30% of total global banking revenue. "Right now, using Bitcoin, one could transfer monetary value and it would arrive in the United States or any other part of the world in 10 or 20 minutes, an hour at the most. And it would probably cost a grand total of less than R10 regardless of the amount being sent. In addition, it doesn't touch a single financial institution to get there. This can be viewed as a threat to financial institutions but can also be seen as a tremendous opportunity as costs come down and volumes increase. Banks need to start thinking creatively about this new paradigm," he says.
Right now, however, making a cryptocurrency mainstream looks unlikely, believes Joyce, citing the limited supply as just one hindrance. But the change is coming and FirstRand is working to understand the disruptions as well as the opportunities. "The idea of cross-border payments will, in the future, become as silly as the idea of cross-border email," says Ehsani. "Value is able to be transferred instantaneously, just like information. That's what the blockchain does."


The impact on your investment portfolio

When the South African Reserve Bank took the market by surprise with a 25 basis point repo rate cut in July 2017 it handed indebted consumers a fillip; a reduction in their monthly home loan and credit card payments. The general advice from the experts was, however, not to squander this relief, but rather to save through these uncertain times and build a nest egg.
But, while the average investor might be concerned with their property bond, there is another bond which is also impacted by a rate decrease, and that's government bonds. These have more of an impact on you and your investment portfolio than you might think; forming as they do a healthy proportion of any pension fund. So what does a rate cut mean for these bonds?
According to RMB Private Bank expert Justin Louw, a Relationship Manager at FNB Securities, the 'bonds 101' fact we all need to know is that when interest rates go up, bond prices go down. And when interest rates go down, bond prices go up. "So, in a decreasing rates environment, like we have at present, government bond prices are going up. This means that our clients who have bonds in their portfolios or are invested in multi-asset funds could benefit," says Louw.
This may seem contradictory, because South Africa's sovereign debt has been downgraded to sub-investment this year, but, explains Louw, the market had priced in this downgrade possibility well ahead of time and had already reacted to ongoing South African political uncertainty and instability. So, even during this period of doubt and uncertainty, government bonds have delivered solid returns.
"What has been beneficial for us is that the carry trade [where investors borrow at low interest rates and invest in assets that offer higher returns] has been perpetuated, so there have been positive foreign bond flows following the March cabinet reshuffle and the downgrade," explains Louw. "Inflation has come lower, which is very beneficial, this has been aided by the relatively low oil price and the relatively strong rand. The rand strength came from an improvement in the current account balance and the carry trade. Because inflation has come down, the South African Reserve Bank has a bit of room to cut interest rates."
The carry trade can be explained by the real yield differentials at play, explains Louw. Assuming South African inflation averages 5.5% and the bond yield at the time of downgrade was 9%, then you had a 3.5% differential of a real yield. "If you look globally there is no real yield available," he says. "In the United States inflation is around 1.7% and the bond rate is 2.2%, so you have 0.5% yield. That explains why investors are coming here. They are looking for real yield."
While it has been beneficial for bond prices and the rand, foreign ownership of South African bonds is also a concern because it could have a massive volatility effect if foreigners sell. "At the end of the day, if someone sells something you hold, en masse, then the price can go down a lot and you can lose money. The opposite is also true so it pushes the value around," says Louw. "Volatility in something as conservative as a bond isn't great, as bonds tend to be used for more defensive stable retirement vehicles and older clients, so you don't want to be exposed to that volatility."
This volatility is evident in the fact that in 2016 bonds produced roughly a 15% positive total return, however the previous year they declined by around 16%. In summary, RMB Private Bank expects further volatility in bonds and the only way to avoid this is if you hold them to maturity. "You'd have to hold the R186, for example, till 2026, to guarantee that 8.6% return currently," explains Louw. "Bonds are instruments utilised for income generation in portfolios and especially if you have an offset from a tax point of view or a tax beneficial structure they are attractive with the current real yield."
He also notes that, as a fund manager, "you cannot afford not to have a bond strategy for both sides of the coin on the table", but you do need to constantly consider the risk and timing given this volatility. "This is where a good advisor comes in," he says, noting that the timing of buying and selling bonds in volatile times should constantly be appraised.
There has been some negative sentiment around bonds lately, with the likes of Coronation shedding South African government bonds in its flagship Balanced Plus fund earlier this year. In most part this was because they regarded bonds as being too strong and, in their view, the price did not reflect the risk inherent in the market due to the political uncertainty South Africa is currently experiencing, explains Louw. "The R186 as a reference was about 8.40%, which really was too strong pre the rate cut. We also didn't think it would price in further downgrades, so we lightened our long exposure."
But that was before the surprise interest rate cut. So now, if bonds do weaken again, Louw notes that "we might push our weighting in bonds up as they are still attractive, not necessarily for individuals from a tax perspective, because the distribution is considered as interest, but if you have a pension fund then bonds are attractive due to current yields. At this point you get a percent or so higher return than in the money market, but note this does involve putting capital at risk compared with, for example, a money market."
With RMB Private Bank projecting at least one more rate decrease this year - potentially in October or November - and possibly another in early 2018, we are in the throes of what is expected to be a shallow interest rate decline cycle of around 75 basis points. This bodes well for existing holders of bonds.


Keep you and your family's data safe

If you use a computer, a tablet or a mobile device, but you don't back up, have antivirus, a secure password and are not actively trying to protect your online identity, then read on because you are not alone. The South African Fraud Prevention Services (SAFPS) recently released statistics which show an increase of more than 200% in identity theft in South Africa over the past six years. And, says SAFPS, a staggering 8.8 million South Africans were caught out by cyber criminals in the past year.
Cybercrime is not just a plot line on popular TV shows, it is a very real threat in the real world. As such, it's imperative to take active steps to protect yourself, your data and your identity.
Kovelin Naidoo, the man they call 'Mr Robot' at RMB Private Bank, may be an expert in this field, but he still stands by some basic steps we can all take to ensure we are a lot safer in the cyber world. Some of these are good habits to get into, he says, like keeping all your devices up to date in terms of software.
"Run all your updates and, if it's Microsoft, keep all the security patches up to date," recommends Naidoo, who suggests making use of automatic updates. "Also make sure your security software is up to date. As an RMB Private Bank client we provide you with an antivirus software licence. When you log in you can download a licence key for Trend Micro." Trend Micro is just one option, he notes, "any antivirus would do. As long as it is up to date."
Once you have these protections in place, then it is essential that you are brutal with your password selection. The days of birthdays, names and star signs are over, today's hackers are wise to these tricks and will break through them quickly, so it is vital to ensure you have a relatively strong password in place, particularly for your online banking. Naidoo suggests that the minimum password length should be eight characters and it should be relatively complex.
He elaborates: "If we look at hackers and how they operate, it is relatively easy to hack simple words from a dictionary, and family and pets names are freely available on social media. So we recommend you use password phrases - such as 'My dog's name is Bingo!' - which would be incredibly difficult for a hacker to break into." So pick a favourite phrase from a book or a poem and type it as it appears in the book; capitals and spacing's included. Ensure you have applied this change to all your sensitive information, emails and applications. Social media accounts do have additional security and privacy settings, so enabling these also ensures the security and privacy of your information.
But, even once you've got all the basics in place, never become complacent. Cybercrime often features well-coordinated attacks and RMB Private Bank works closely with law enforcement to try and identify syndicates. But there are also individuals operating in this space, warns Naidoo. "We've all heard of ransomware over the past six months. And the barriers to entry there are low." To protect yourself in the event of ransomware, it is vital to back up your data on a remote storage device regularly, says Naidoo. Do so at least one a month. "So, if you can't gain access to vital information, then you can fall back on your storage and data."
But, ideally, you've put in place behaviours and security which keep you and your data safe. This includes being suspicious of any emails and attachments which seem unusual. "Most computers are infected through an email with a virus," explains Naidoo. "Cybercriminals are quite masterful when it comes to Photoshopping emails from municipalities or telecoms or banks, links might look right but that link will send you to a malicious site. So scrutinise links and attachments." Do remember that RMB Private Bank will never communicate by using links in emails, nor will we ask clients to send sensitive information or details via email.
Naidoo recommends, from a banking perspective, that you transact using the RMB Private Bank App. "There is strength in all our security but we believe the RMB Private Bank App is the way to go, because we know it is difficult for cybercriminals to target mobile applications," he says. "In the RMB Private Bank App you are fully in our ecosystem and you aren't reliant on other software. But outside of that App there is a whole ecosystem which we can't control."
For example, SIM swaps are an increasingly popular technique which cybercriminals use to gain access to your personal data. But, using App, allows the bank to pick up anomalous and suspicious behaviour which we can proactively block or request you to confirm via a trusted mechanism. "SIM swaps are the first step to identity theft and financial fraud by criminal elements, all they need is your cell number, a utility bill and a copy of your ID. That's it to legitimately do a SIM swap," explains Naidoo.
Identity theft is a big issue in the cyber world, but it transcends the digital sphere. In the real world you should always keep documents such as IDs and passports in a secure location, says Naidoo, and shred sensitive information, like FICA or RICA documentation, once used. "Cybercriminals also look to target your garbage in the real world, and if I have your utility bill and your ID I can do a lot of damage. If you run a small business then also ensure that this security awareness extends through the organisation. If hackers can't get to you, then they will try those close to you, such as your PA or your children. So these practices should cover all devices and people in your circle."
Remember, concludes Naidoo, that all your banking needs can be fulfilled using the secure RMB Private Bank App, "from everyday banking, to renewing your car licence, to evaluating your property price. Many of our clients are still exploring the many things you can do with the App."


Get instant access to information

Finding simple and smart ways to assist you to navigate life's difficulties is central to RMB Private Bank nav» innovations. First we started with nav» Home, which looked at 'angst points' in the home buying and selling process. We worked out a slick system to assist you with everything from instant home loan pre-approval for qualifying clients, to getting a free instant property estimate, to searching for your ideal home, and even finding schools and services in your new suburb.
Now we've rolled out nav» Car... so you are never required to stand in line to renew your vehicle licence again!
With nav» Car we aim to make vehicle ownership and compliance just that bit easier, by giving you instant access to a range of tools using the RMB Private Bank App.
For starters, explains Orsheran Singh, Imagineer (Head of Product Development) at nav», you add your vehicle to the App by scanning your licence disc or using a manual entry method. This will give you instant access to information about your car such as value estimates, specs, licence reminders and will even alert you to traffic fines, which you can pay using the RMB Private Bank App.
For many the seamless ability to renew your licence at the touch of a button is the biggest winner. Simply make an in-App payment and your disc will be delivered to your door, says Singh. The handling and delivery fee of R199 excludes the renewal amount, and saves you queues, questions and the frustration of computer malfunctions at the Traffic Department or Post Office.
Plus, once you join up to nav» Car you can opt to take up the On-road PROTECT bundle too. For only R95 a month, this add-on puts you in the driving seat by offering:
  • Vehicle licence renewal assist: Free handling and delivery to your door for up to five vehicles (excludes renewal amount).
  • Fines assist: Instant fine notifications and discounts negotiated on your behalf.
  • Bail assist: 24/7 bail assistance at roadblocks.
  • Claims assist: Tyre repair due to pothole damage and road Accident Fund claims.
According to Jolande Duvenage, Chief Imagineer (CEO) of nav», every nav» solution is designed to free up your time and put you in control. "We underestimate how much the bank can assist you," she says. "We are seeing the growth of the self-help client and we need to allow for that customer." One way to do that is to ensure that the tools required for ease of use and instant action are at your fingers tips courtesy of your smartphone.
Want to put nav» Car to the test? Simply open the RMB Private Bank App and select nav» Car. Right now this is the closest you will come to a self-driving experience!


Taking digital convenience to the next level

The RMB Private Bank has been a huge breakthrough in banking convenience, says Giuseppe Virgillito, Head of Digital Channel. This requires that RMB Private Bank keeps innovating and ensuring that clients find personal value in using this platform, even if their support team generally deals with their banking requirements or they are comfortably reliant on their private banker.
It's this thinking which saw the creation of Secure Chat, RMB Private Bank's interactive messaging platform on the RMB Private Bank App.
According to Virgillito, Secure Chat was born out of this realisation: "Our clients require personalised service and we need to fit into how our clients' lives work." From there the team put themselves in the shoes of a busy client whose most convenient means of communication on a day-to-day basis is his or her smartphone.
"Our clients are busy and they often don't have time to call the bank, or go to the bank. So, with Secure Chat, they can, at their convenience, log in and have an open conversation with a skilled professional," says Virgillito. This puts your bank in your pocket, be it during a board meeting or while you are waiting for your next flight at the SLOW Lounge.
For those clients still learning their way around the RMB Private Bank App, clients can access Secure Chat by logging into the App, clicking 'More' and then opening up the 'Messages' tab. You'll access Secure Chat in the top right-hand corner.
The Secure Chat service automatically drives clients to the RMB Private Bank App, and this is an intentional move on the part of the bank. "The App establishes a secure connection irrespective of how you access the App, even through a public WiFi connection. Locally or internationally you can connect to a hotspot and talk to your banker with confidence because, by using the App, you are secure and authenticated," explains Virgillito. "This means that you don't have to go through the authentication process and this allows us to service you faster and let you get on with your day."
The App exists to assist clients to meet their daily banking requirements, and Secure Chat adds to that service by giving RMB Private Bank clients 24/7 access to a skilled professional who understands their requirements and can deal with any query. Or, if a client requires an additional level of service, the query can rapidly be scalated to an appropriate expert.
"In time, Secure Chat will evolve into a one-stop-shop where you can talk to us day or night and where we'll be able to invite highly skilled and highly trained specialists into the conversation," says Virgillito. But, for now, you have access to a trained professional and a personalised service which offers the following services:
  • Obtain stamped bank statements
  • Request Visa letters
  • Query debit orders
  • Get online banking and RMB Private
  • Bank App support
  • Report fraud
  • Query your eBucks Rewards.
While these are all great services, Virgillito stresses that "a client should not be limited to these five things. The App and Secure Chat service are about giving you access to your information in the palm of your hand, all day and all night."
Secure Chat adds another layer to the RMB Private Bank banking proposition, concludes Virgillito. "Secure Chat is just a more convenient, more secure and more accessible way of delivering you the best service."


Give your taste buds a treat

eBucks Lifestyle has teamed up with Wade Bales Fine Wine and Spirits, the 'personal bankers' of the wine industry, to create three unique and exclusive Cape winetasting experiences for discerning RMB Private Bank clients.
They have assembled three experiences from which you can choose:
Heritage meets contemporary flair at Steenberg
Your Steenberg experience includes a superb neo-bistro three-course meal prepared by Executive Chef Kerry Kilpin at Bistro Sixteen82, an establishment rated among 20 of the world's best winery restaurants.
Marvel at the mountain views at Beau Constantia
Beginning at R500 per person, you will enjoy a glass of Cap Classique on the steep agricultural slopes of Constantia Neck as you take in the beauty of the Beau Constantia boutique wine farm and gaze out over False Bay. Then enjoy a private tasting of all Beau Constantia's Premium Wines - each of which has been awarded more than 90 Robert Parker Points - in the owners' exclusive VIP Bronze Box Glass Conservatory.
You will be treated to the culinary excellence of acclaimed Executive Chef Ivor Jones (formerly of The Test Kitchen) who will prepare a gourmet set menu of eight tapas served over three courses at the Chef's Warehouse - a gastronomic delight that you won't want to end.
Reconnect with the land at Klein Constantia
Starting at R1 000 per person, you will embark on an off-road 4x4 tour up into the spectacular vineyards where you will enjoy a glass of bubbly while taking in the exquisite views.
Thereafter, you'll be whisked off to the quaintly named Duggie's Dungeon for a traditional country-style lunch of succulent chicken, pickles, homemade jams and pâtés, freshly baked breads, delicious quiches, cured meats, cheeses and fresh salads. Subject to his availability, you could also experience meeting Matthew Day, one of the new wave of young winemakers energising the Constantia Valley and get his personal take on the rich history of the Klein Constantia Estate.
And that's not all...
With December just around the corner, now is the perfect time to consider enhancing your Wade Bales Fine Wine and Spirits experience with additional eBucks Lifestyle special offers in order to get maximum value and enjoyment out of your Cape Town visit.
For example, you could enjoy a discount of up to 40%* when you fly from Johannesburg to Cape Town and when you make use of Avis car rental. Or you could enjoy a discount of up to 53%* on Rovos Rail, the most luxurious train in the world, as you relax in reconditioned wood-panelled coaches and recapture the romance and luxury of a bygone era.
When you get to Cape Town, choose to stay at Rovos Rail's stately seaside St James Guesthouses fronting onto Kalk Bay at a discount of up to 53%*.
Or enjoy a saving of up to 35%* when you stay at the award-winning five-star 12 Apostles Hotel & Spa or you could select to stay at The Table Bay, Sun International's luxurious five-star hotel overlooking the Victoria & Alfred Waterfront, at a discount of up to 10%* and kids stay free.
Furthermore, to ensure that you enjoy your tasting experience without worrying about drinking and driving, take advantage of eBucks Lifestyle's point-to-point vehicle transfers from Avis.
To find out more about any of these exclusive offers or to book, log in to and click on the Lifestyle tab.
* Discounts exclude all taxes.


Popular events on the tourism circuit around South Africa

25-27 October 2017, Sandton Convention Centre.
Wine making has come a long way since the times of the ancients - when rotting grapes were transformed by the natural yeasts present on their skins into something akin to the beverage we drink today. Back then little was known about cellar hygiene and the outcome of the process was often a matter of chance. It was only in the 19th century that Louis Pasteur began to understand the crucial role played by yeast, and little more than 50 years ago that Emile Peynaud determined the cause of malolactic fermentation.
Today, even the most rustic of cellars is hightech compared with a generation ago. Yet, despite this, much of what goes into traditional quality red winemaking is essentially unchanged from 200 years ago. It's no surprise to discover that the best wines from the 19th century are often still very much alive - an indication that the people who made these vinous treasures understood the art, if not the science of it.
Despite the tech revolution of the past few decades, many of the new generation ofwinemakers are reverting to techniques and equipment that have been used for literally thousands of years. Egg-shaped amphorae are back in fashion as fermentation vessels; foot stomping of grapes - a gentle and effective way of extracting flavour and tannins - has also made a comeback; oxidative practices often yielding so-called orange wine are very much a la mode. The battle cry is authenticity, a banner which unifies the rustic and the precise, the archaic and cutting edge.
Wines from every corner of the national vineyard, as well as a selection from around the world will be available for tasting over the three nights of RMB WineX 2017. Of course there will be hundreds of examples made in great volumes and with great technical precision, and hundreds produced in tiny quantities by so called "boutique" and "garagiste" winemakers. This is because there is no absolutely right or wrong way to transform grapes into wine - the market is the final arbiter. Over the past 18 editions of WineX - the largest consumer wine event in the Southern Hemisphere - pretty much every possible style of wine has been available for sampling. And since very few wine producers in South Africa ever seem to go out of business, clearly they mostly manage to find a palate for every wine.
As an RMB Private Bank Client, enjoy our exclusive offer for RMB WineX.
*Use the code PBclient17 and get discounted tickets from Computicket.
Coffee and Chocolate Expo Cape Town 2017
7-8 October 2017, Durbanville Racecourse, Cape Town.
If you're a coffee aficionado or lover of chocolate then brace yourself with a celebration of cocoa and beans during the third instalment of Cape Town's Coffee and Chocolate Expo. Find out about the origin of your favourite hot beverage and learn how to pour the perfect cup at the Chocolate Theatre. Additional highlights include a chocolate pairing with various liquors, whiskies and, of course, fine wines. Plus expert chocolatiers who be on hand to discuss the craft of fine chocolate making.
Prince Albert Leesfees 2017
3-5 November 2017, Prince Albert, Western Cape.
For the sixth consecutive year this charming book festival returns to the picturesque town of Prince Albert. Words in all their manifestations are the focus of the Leesfees, and this year comedy and satire join the programme in the form of comic talent Nik Rabinowitz. For all the readers out there, this festival is a must!
Ficksburg Cherry Festival 2017
16-18 November 2017, Ficksburg, Free State.
This annual festival, held in the sleepy town on the foothills of the Maluti Mountains, is the longest-running crop festival in South Africa, dating back to 1968. It is also Ficksburg's main opportunity to grab some of the action on the South African tourism circuit. A number of programmes run concurrently throughout the festival, including children's events, and live music to workshops. Popular events include wine and chocolate pairings, an introduction to cooking with cherries, and a range of sports events, including a fun run and road cycling race. A great event for the whole family.
  • Champagne Louis Roederer & Riedel
    6 x Champagne Louis Roederer Brut @ R795.00/bottle (List price: R 4 770.00)

    6 x Riedel Vinum Prestige Cuvee Champagne flutes @ R 345 each (List price: R 2 070.00)

    RMB Private Bank client price: R 3 995.00(Actual price: R 6 840.00)
  • Champagne Louis Roederer & Domaines Ott
    6 x Champagne Louis Roederer Brut @ R795.00/bottle (List price: R 4 770.00)

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Youths make their imprint on the world

Many Generation Xers (those in their early 50s and 40s) or Baby Boomers (in their late 50s and 60s) share their homes and lives with members of the two latest generational groupings, the Centennials (under the age of 23) and the Millennials (in their 20s and 30s). As a result many know only too well how different they are from their children and grandchildren, how they are motivated by different things and how their approach to life, work and wealth diverges.
Understanding how these new generations 'tick' is something researchers, companies and marketers are keen to unpack; after all they are the clients, leaders and social influencers of the future. Those in the know tell us that the youth of today are a demanding, impatient, socially-minded and digitally-driven group. They prize education, have lofty ambitions for themselves and care deeply for humanity and the planet.
These individuals, particularly the Millennials who are increasingly moving into the workplace, are beginning to reshape key industries and sectors with their unique approach to life. Philanthropy, as you'll read in this newsletter, is adapting to their influence; savings and investment firms are taking notice of this group's pressures and pleasures; trends like gamification are influencing the way we all learn and earn; and our economy is also adapting to the youth's openness to sharing and collaborating (just think about how Airbnb and Uber have changed the way we travel).
As a bank, our solutions must also address this group's desire for control and clear communication, while ensuring that we offer value to our existing clients. A prime example of building an innovation that holds merit across generations is nav» Money, which complements the 'My Net Worth' balance sheet functionality already available on the RMB Private Bank App. nav» Money is a digital money management solution to help you better navigate your financial journey. Like the other nav» products by RMB Private Bank, nav» Money is changing the way our clients manage their money, as well as their expectations of financial services.
The youth of this country is indeed reshaping the future and forcing business to adapt, think out of the box and innovate. There is much to celebrate about these developments and, as we mark Youth Day on 16 June, it is vital to turn the spotlight on the wealth of talent and potential that exists in South Africa's young people. We hope you enjoy these insights into South Africa's dynamic young people.

Trends: Get in the game with gamification

What is it about that Fitbit on your wrist or the pedometer app on your smartphone that inspires you to clock 10 000 steps a day? Why does real-time feedback on your driving spark better habits? The human psyche responds to these forms of 'gamification'; a fancy way to describe the confluence between the real and the virtual worlds. The question is why? As part of RMB Private Bank's megatrends series, we get under the skin of this emerging trend.
The gamification sector is expected to grow into a US$11 billion industry by 2020, according to Research and Markets in the United States. This is being driven not only by user uptake but also by a growing realisation that incentivising people through gamification can improve not only customer relations but employee engagement. Investing is no different; something which global asset management firm BlackRock's co-founder, Rob Kapito, told a conference in London last year when he stressed that financial services institutions would have to become more like game developers to appeal to younger investors. "It's a game," he was quoted as saying by the UK's Business Insider. "All of the technology is gamification... What we need to do is find the financial game that makes people feel comfort and safety. The winners, in my opinion, are going to be the people who have that game, have the technology, and have the brand."
The reasons for this are manifold, and include the feel good factor associated with the rewards offered by gamification platforms, the fact that these offerings are designed to be fun and engaging, and that they celebrate achievements (even if it's just moving up a level in recognition). Furthermore, researchers suggest that because the human brain can get bogged down by information and the myriad options we are exposed to daily, having an app on hand to direct your behaviour helps to relieve cognitive overload.
Most of us, of course, don't associate these benefits with the word gamification, which instead conjures up images of virtual reality headsets and military-style 3D operations. "It's a word that sounds like you'll get stuck in a video game and be a digital version of yourself," admits Chantal Marx, Head of Research at FNB Securities. "But what gamification does is optimise human behaviour by making it fun to do things that you don't always enjoy."
A good example of this is Discovery's Vitality innovation, says Marx, who explains: "Discovery is basically de-risking their own book while encouraging people to look after themselves." Loyalty and rewards programmes, such as FNB's eBucks Rewards and Dis-Chem Pharmacies' Loyalty Benefit Card, have a similar ethos of rewarding good behaviours. In the case of eBucks, the focus is on rewarding customers for how they bank and enabling them to save money and do more when they spend their eBucks. "Dis-Chem Pharmacies is an example of how giving people points for purchases makes them want to frequent your establishment," explains Marx, and this rationale works across retail, the health sector, insurance and education.
In fact, says Marx, "studying or learning a new skill is often not a massively fun experience, but gamification is changing the face of education and how we learn".
Language app Duolingo is a great example, which uses cartoons, quizzes and short learning sessions to impart vocabulary and grammar in a fun and interactive way which rewards you as you climb from level to level, much like a video game. "They make it fun for you to learn and it's less of an effort than going to a language school where it's all about sentence construction," says Marx. "This approach can work for both easier and more complex subjects. Just look at Stanford Online or Coursera to see how much more gamified education has become and how opening up learning from home has made education far more accessible."
A less flashy example of gamification is using this approach in the workplace, harnessing this fun and interactive approach to improve employee morale and productivity. "If you can get a really good interface going, where employees can make career goals and plot their way forward and track their progress, then you have a smart tool for guiding employees through their careers while retaining talent," says Marx. This level of gamification is slowly coming to South Africa, but in Hungary professional services firm PwC makes use of a free game called Multipoly which simulates what it is like working in an accounting firm by presenting similar business problems to work through. Aimed at college students, PwC Hungary claims a 78% increase in candidates looking to work for them as a result of the game. This is precisely the sort of approach which BlackRock's Kapito finds so exciting. "Millennials want to game. It's a game society," he said at the 2017 conference.
Given the digital focus of gamification, it makes sense that this type of approach appeals to Millennials (those in their 20s and 30s) and Centennials (under the age of 23), says Marx, but it also works across generational lines. How many 60 year olds do you know with an Apple Watch? "While they are fixating about making their points, they are become a healthier version of themselves. At the same time the company's risk has been reduced."
It's hardly surprising, therefore, that companies are jumping on the bandwagon and looking to adapt their way of doing business to the 'game society'. This, explains Marx, is creating investment opportunities. BlackRock, for example, invested €30 million into Scalable Capital, an Anglo-German digital investment platform, in 2017; putting its money where Kapito's mouth is. Marx believes the savvy investor should also be paying attention to companies that are innovating in this space by launching their own programmes. She also singles out companies that are creating this gamification content, "those tech start-ups in the US as well as IT companies, the guys who are building the apps that are being deployed into businesses to help improve efficiencies through gamification".
In South Africa's tech space most of these companies are conglomerated, so you'll have some exposure even though it may be diluted, notes Marx. And that's a good thing, after all gamification is here to stay and with the youth hungry for more engagements of this nature, gamification is likely to be a meaningful for years to come.

Tackling youth unemployment a national imperative

Unless all South African stakeholders come together, any chance of meeting the National Development Plan's stated objective of reducing youth unemployment to 6% by 2030 will continue to be an unrealistic vision and the negative impact on both the economy and the psyche of the country will continue to spiral out of control.
This brutal reality was highlighted recently after Statistics South Africa (Stats SA) unveiled another Quarterly Labour Force Survey replete with negative numbers, forcing the country to once again take stock of a stubbornly high official unemployment rate of 26.7% (a 15-year high) and a high and rising youth unemployment rate.
For youngsters aged 15-24, the data shows that 52.4% of South Africans in this age bracket are unemployed (up from 51.1% in the final quarter of 2017). Broaden that to the 15-34-year-old age group and the number sits at 32.4%, the highest in the world ahead of Greece (25.2%) and Spain (22.2%).
Until policy interventions, the promised jobs summit (mentioned by President Cyril Ramaphosa during his State of the Nation Address in February 2018) and a notable improvement in South Africa's growth figures are achieved, any chance of wrestling these figures to more acceptable levels will remain a pipe dream, says Jason Muscat, Senior Economic Analyst at FNB Economics.
"We continue to remain downbeat on the prospects for meaningful declines in the unemployment rate," says Muscat. "Despite the forecast for economic growth of approximately 2%, GDP (gross domestic product) will have to grow at more than double that rate to impact the unemployment rate."
This is not to say that some attempts to address the problem are not unfolding. In March 2018, Ramaphosa launched the Youth Employment Service (YES) which aims to bring government and business together in an effort to create a million paid world experiences for young South Africans over the next three years.
Initiatives like YES are important since the longer someone is unemployed, the deeper their discouragement, the more chance they will continue to miss out on opportunities and, eventually, the higher the likelihood that they will stop looking for work altogether. South Africa is not short on such initiatives, be they government- or private sector-driven, but to date such efforts have failed to make a significant and perceptible dent in unemployment numbers, particularly among the youth. Furthermore, in an economy dogged by slow growth and weighed down by structural inequalities and inefficiencies, the precarious position of the youth becomes even more heightened, says Muscat, as they are often the first to lose their positions and the last to be rehired.
One role which corporate South Africa can fulfil to counter this worrying trend centres on supporting the entrepreneurial focus of the country's youth. This means ensuring ongoing education around business ownership and, in the case of the financial services sector, working hard to share tips and insights around developing sound financial behaviours, both personally and for young business owners. Mentorship plays a substantial role too, and has the potential to guide young people towards business ownership in a supported fashion with a long-term and sustainable focus. Working closely with tertiary institutions to ensure that graduates enter the workplace armed with the right skills is another avenue ripe for collaboration; one which has the potential to ensure that opportunities and skills complement one another in the economy.
However, more needs to be done to get all stakeholders onto the same page. Just recently Business Day newspaper noted that unless the private sector substantially increases its fixed-investment spending in the country, the rise in business confidence fuelled by the optimism around Ramaphosa's presidency will not translate into meaningful numbers of jobs being created. This disconnect between the private sector, the government and unions is very real and its impact on prospects for job creation are tangible, says Muscat. So initiatives like YES do have an important role to play in bringing all economic players to the table.
In this respect it is important to take notice of inputs from the likes of the World Economic Forum (WEF), which touts an approach to turning around youth unemployment that hinges on five strategies:
  • Boosting job creation and labour demand
  • Better preparing youth for the job market
  • Creating pathways towards productive work
  • Improving financial well-being
  • Fostering entrepreneurship.
In order to get each of these steps into play, the need for intelligent collaboration across all players in society is a must. There is no way around this, as Sean Rush, President of JA Worldwide, a youth-focused global non-profit organisation, wrote in a recent WEF blog: "Only through the concerted efforts of several parties - and a willingness to stick with it over the long-term - can we address the world's youth unemployment challenge and achieve lasting change."
Muscat agrees: "The reality is that the faster an economy grows, the more jobs are created. Over time, as the fourth industrial revolution gains traction and jobs are increasingly replaced by machines and software, this relationship will break down, so is all the more reason to tackle our systemically high unemployment rate before it is too late."

Generations unite to drive philanthropy

"Philanthropy is the thing that I am really excited about, and having success means I can do more." These are the words of, entertainer, actor and Grammy Award winning musician. This modern-day poet's view encapsulates what philanthropy is all about and, having sown the seed, 43-year-old and his more socially-minded Generation X cohort have certainly set the stage for the new Millennial grouping (those individuals currently in their 20s and 30s) to build on this culture of giving back.
While South African philanthropy body Inyathelo's 2017 Annual Survey of Philanthropy in Higher Education shows a substantial rise in the number of high-net-worth individuals in South Africa giving to worthy causes, like education, the truth is that many in this space have been giving consistently for years. Increasingly, these high-net-worth individuals are involving their children - and grandchildren - in their efforts.
According to Prince Siluma, Head of RMB Private Bank's Philanthropy Centre, the next generation of philanthropists is clearly coming through. These individuals are savvy, digitally driven and socially minded. "For the Millennial, philanthropy is more about alignment to their values and about creating long-term relationships," says Siluma, who believes this aspect of the Millennials, and other even young generations, will reshape the sector. "Non-profit organisations need to start thinking how they communicate their stories to these individuals," he says, noting that "if you get hooked up with a Millennial then you have a partner for life".
This insight applies equally to the work being done by the Philanthropy Centre, which caters to the social investment needs of affluent individuals and corporates, by assisting them to create their own philanthropic social investment foundations. The centre facilitates and guides clients through the establishment of the necessary legal structures; applies for tax exemptions and rebates; assists with identifying qualifying causes; undertakes ongoing fund and investment management in accordance with best practice governance; and monitors and reports on the impact of these social interventions.
The Philanthropy Centre also keeps a keen eye on trends in this space, and the generational shift is an interesting one. "For many of our clients who start family or private foundations, a major focus is getting their children into philanthropic causes and encouraging them to participate. With the Millennials being more socially conscious than other generations, this sets up these foundations well for a sustainable future," says Siluma.
Citing a recent example, Siluma explains: "We started a foundation for a client at the end of last year and she has roped in both her kids, one is a trustee and the other is managing the foundation as the MD. Both youngsters are working with the foundation on a full-time basis and both are in their early 30s. They love it. I follow them on Twitter and they are always punting the foundation's work."
While a foundation such as this has no shortage of passion and dedication, often the input of experts is needed to help create the largest impact. "There are a lot of causes out there, and you can't help everyone," stresses Siluma, "so when I engage with my clients I encourage them to focus on a particular cause and then decide what they want to achieve. If you want to help previously disadvantaged children around education, that's too broad. Rather narrow it down in order to make an impact which you can monitor."
This practical approach to philanthropy is in line with a more action-driven generation that wants to see rapid improvements on the ground. "People always ask me what the difference is between philanthropy and charity," says Siluma, "and I always use the old-fashioned saying about teaching someone to fish. That's what philanthropy is all about. If you solve a systematic problem you solve a social problem. If you invest in the systematic problem and you solve it permanently, then you have a more sustainable solution."
Over the years wealthy individuals have thrown themselves into supporting good causes, either through giving or putting their skills to good use. Often these actions go unnoticed and unreported, frequently at the behest of the philanthropist. "I don't think we give enough credit for these actions," says Siluma. "Philanthropists do this because it is the right thing to do, so they tend to shy away from the media and talking about what they are doing. Look at education, a number of foundations I know are doing magnificent things when it comes to education. Do you hear about it?"
But, as the social, digital and collaborative nature of the Millennials grows in this space, there is every possibility that this more siloed, behind-the-scenes approach will give way to sharing, circulating stories and real collaboration, something the sector certainly needs, believes Siluma. "The reporting in this space is not that great and collaboration is still in its infancy," he says, explaining that many foundations and companies just don't like to collaborate and prefer instead to hold onto their projects. "We need to get to a point where collaboration is the norm because when we are focusing on complimentary areas then the impact can be huge."
As former Public Protector Thuli Madonsela remarked during the recent Business in Society conference in Johannesburg: "Most Millennials are about creating the world they want to live in." And that opens the door for a philanthropic future driven by action more than by words.

Youngsters crave money management insights

Young South Africans, who make up 27% of the country's population, are a determined group. If they can focus their strategic intent on developing sound financial behaviours, then South Africa may well be able to turn around its poor savings culture in less than a generation. Do they have what it takes to step up?
In 2017 market research firm GfK performed a cross-generational study of South African Centennials (younger than 23), Millennials (20s and 30s), Generation X (40s and mid-50s), Baby Boomers (50s and 60s) and the Silent generation (70 and above). Far from highlighting a flighty and financially irresponsible youth market, GfK revealed that South African youngsters aged between 20 and 34 are vibrant, well-educated, individualistic people for whom authenticity is essential.
"With greater access to education they are more self-assured and believe that they control their own destiny," noted the GfK researchers. "Following this sense of control, they are more optimistic about their economic future."
Not only are the Millennials well placed to take control of their financial futures, they also have clear savings priorities. When the Sunday Times Generation Next 2017 survey, conducted by HDI Youth Marketeers, asked youth participants how they would prioritise saving goals they went for: Paying for a car (16.5%); international travel (14.2%); buying a property (11.7%); paying for my studies (11.2%); and opening my own business (8.4%).
While the GenNext study shows that these youth certainly respect money, they don't regard wealth with the same importance as previous generations; putting family first. But they do crave information and guidance around planning for their futures.
HDI's Client Service Director, Cuma Pantshwa, says this explains their appreciation for mentorship and guidance. "Young adults want money. And, in this space, they seek brands that will help them to achieve that; brands that will get them to the next level and help them achieve their dreams."
When it comes to sound financial behaviours they are open to learning about money management, saving, investing and financial planning. They just need exposure to the right thinking, says Pantshwa, who urges companies to bridge the gap between an under-par education system and the skills the youth of South Africa need to navigate today's complex modern world. This means running educational workshops and roadshows, hosting talks and online discussions and visiting universities to share real-life case studies. FNBy's youth accounts, which offer savings options specifically created for those younger than 25, are a great example of this approach. Not only do they include a yCard, free online and FNB Banking App usage, unlimited internal transactions and unlimited card swipes, but also access to a library of educational videos related to saving and investing.
A recent article by Wealth Management magazine went even further in its focus on education by recommending that financial institutions adapt their communication and education efforts to the Millennial customer by adopting a more open, convenient and educational approach. They suggested blogging about financial concepts and money management and even "incorporating some type of gamification, or videogame-like tasks and achievements, into the financial planning process. For example, if a client connects all their financial accounts to the client website you provided, reward them with a set of points they can later cash in for a gift certificate."
In case you think this approach is age specific, Chantal Marx, Head of Research at FNB Securities, adds: "You would typically think that gamification appeals only to Millennials and Centennials, but it works across generational lines." The popularity of eBucks is a case in point, with the appeal of this popular rewards programme spanning generations.
However, rewards and innovative communication channels aside, consulting a trusted advisor is essential for young professionals looking to outline appropriate goals and select products that are suited to their specific life-stage needs.
The financial decisions facing today's young professional are more complex than savings products alone, says Marius Pentz, Regional Head of RMB Private Bank. Take, for example, the cost of pre-tax debt and how you can "create liquidity by leveraging off your assets in a tax friendly manner"; exploring the impact of cryptocurrencies on the market and understanding how the workings of the market (both local and global) impact your investment portfolio. The latter "involves knowing what impacts the rating agencies' view of our economy and political environment and what has changed", he says.
It also requires understanding the advantages of tax-free saving (using your R33 000 Tax Free Savings Account limit annually), opening up a modest retirement annuity earlier rather than later, and having the foresight to start saving early for your own children's education and future needs. All of these behaviours should begin to take shape in your 20s and 30s; helping you to capitalise on the power of compound interest.
Another consideration is when, for example, Millennials start having financial discussions with their own children and involving them in the family's wealth discussions. Such discussions are the backbone of future savings success and financial security and are the only way to turn around South Africa's poor savings rate. National Savings Month is the ideal time to open up family discussions around saving and investing.

Tune into your finances easily and effortlessly

Like the name - nav» - suggests, RMB Private Bank's unique series of navigation tools give you control over your buying decisions, your financial outlay and the property selection process by bringing together all the expertise within the FirstRand banking family and putting them at your fingertips via the RMB Private Bank App.
To complement the 'My Net Worth' balance sheet functionality already available on the RMB Private Bank App, RMB Private Bank has introduced nav» Money, a digital money management solution, which follows hot on the heels of nav» Home and nav» Car. nav»Money gives you a helicopter view of your finances to enable you to make solid financial decisions.
Both nav» Home and nav» Car started life by looking at the 'angst points' in the process of buying a home or licencing a car, then worked backwards to create a slick and easy-to-use solution.
Since launching two years ago nav» Home has attracted one million visitors to the App and facilitated R2.7 billion in home loan payouts. Similarly, in the year since nav» Car was brought to market 182 000 vehicles have been loaded on to the system, which has processed 10 000 licence renewals. The uptake for both services highlights the real need in the South African market for user-friendly, digital tools designed to put banking clients in the driver's seat.
Now nav» Money steps in to give you a consolidated view of your wealth, explains Etian Louw, Imagineer (Head of Product Development) at nav», your financial GPS through life.
What is nav» Money?
The beauty of nav» Money lies in its simplicity, as it allows you to:
  • Track your spending by helping you manage your monthly spend, while also providing tips to help you improve your monthly cash flow.
  • Check your available funds by giving you instant calculations that take your schedule payments and debit orders into consideration. This helps you to plan for upcoming payments.
  • Determine your credit status by giving you an overview of your payment history and financial health, including credit limit usage, your credit track record and more.
The tool can quite easily be used by a young executive or professional, a seasoned businessman or youngsters just learning to take charge of their finances.
"On 16 May 2018 significant enhancements were launched to the RMB Private Bank App to create solutions that prioritises our helpful, innovative and customer-centric digital solutions, and the nav» Money App became available for download," says Louw. The RMB Private Bank App requires no data to run and has been designed making use of conversational language. This is vitally important in bringing greater financial inclusion into the South African banking environment.
"Some of us have been very fortunate to grow up hearing conversations about money management, others haven't," says Louw. "So the tips provided through nav» Money come back to simple habits like paying yourself first, or making use of your eBucks to pay for fuel or bigger purchases. The key thing is that this helps to instil correct financial behaviours; a saving and investment theme that will be built more into future upgrades."
Why nav» Money?
Critically, in a world debating issues of personal safety and data privacy, Louw stresses that no personal information is requested by nav» Money and all recommendations are made based on your accounts and interactions with RMB Private Bank App. nav» Money does, however, provide an overview of your credit rating, and offers meaningful steps for improving your credit history. "This can be very helpful in determining your credit financial fitness," says Louw.
While any long-term decision around taking on debt, saving or investing necessitates a conversation with your trusted advisor, Louw believes that with nav» Money at your fingertips you can empower both yourself and your children to care for your financial legacy and their financial futures. "No longer do you have to deal with spreadsheets and calculators, we do it all for you," says Louw. "It's all available to you at the click of a button on one convenient view."

Unlocking Wealth



Youths make their imprint on the world

Many Generation Xers (those in their early 50s and 40s) or Baby Boomers (in their late 50s and 60s) share their homes and lives with members of the two latest generational groupings, the Centennials (under the age of 23) and the Millennials (in their 20s and 30s).




The world 'gamification' conjures up images of virtual reality headsets and military-style 3D operations but, in reality, it is really just a way of optimising human behaviour by making it fun to do things that we don't always enjoy. Driven by younger generations, the rise of the 'game society' and an ability to tap into the feel good factor, the gamification sector is expected to grow into a US$11 billion industry by 2020. Investors should keep a keen eye out for companies jumping on this innovative bandwagon.

Economic Outlook: Youth unemployment


The latest unemployment numbers from Statistics South Africa show that unemployment remains stubbornly high, at 26.7%. For young South Africans this number is even more worrying, sitting at 52.4% for those aged 15-24 and at 32.4% for the 15-34 age group. Policy interventions, the promised jobs summit and a notable improvement in South Africa's growth figures are essential if these figures are to be wrestled to more acceptable levels. Corporate South Africa must also play a role in helping to reverse these numbers.


Increasingly, high-net-worth individuals in South Africa - those who are already actively involved in giving - are involving their children and grandchildren in these efforts. This new generation is savvy, digitally drive and socially minded. They are committed to making a difference, aligning their giving to their values and to creating long-term relationships; traits which are likely to see philanthropic endeavours become increasingly collaborative in the years to come.

National savings month


Young South Africans, who make up 27% of the country's population, are a determined group. If they can focus their strategic intent on developing sound financial behaviours, then South Africa may well be able to turn around its poor savings culture in less than a generation. To help them on their way, young adults are looking to companies and brands to help them on their journey, and to share insights about money management, saving, investing and financial planning.


To complement the 'My Net Worth' balance sheet functionality already available on the RMB Private Bank App, RMB Private Bank has introduced nav» Money, a digital money management solution. nav» Money gives you a consolidated view of your wealth, allowing you to track your spending, check your available funds and determine your credit status. The tool's simplicity means it can easily be used by a seasoned businessman or entrepreneur, a dynamic executive or an up-and-coming youngster just learning to take charge of his or her finances.

Family fun


22 June - 1 July 2018, Ticketpro Dome, Johannesburg
4 July - 8 July 2018, Durban ICC
11 July - 15 July 2018, GrandWest, Cape Town
Everyone has their favourite Disney princess, from Frozen's Anna and Elsa to Ariel and Belle, Cinderella and Rapunzel, Tiana, Jasmine, Aurora and the ageless Snow White. Add a dash of pixie dust to the mixture, courtesy of Tinker Bell, encase the entire experience in a winter wonderland setting, and youngsters (and the young at heart) will enjoy an enchanting glimpse into a world where dreams do come true.


3-8 July 2018, Teatro at Montecasino, Johannesburg
This is an interactive live show for the whole family featuring popular Cartoon Network characters from Ben 10, The Amazing World of Gumball, Adventure Time and The Powerpuff Girls. In Cartoon Network Live! Kelvin Gizmo, scientist extraordinaire, takes us into the world of Cartoon Network which is under threat of Zarr, the evil robot. We travel through the Land of Ooo, the city of Townsville and Elmore and meet their famous inhabitants. With them, and the help of the audience, Kevin Gizmo will hopefully be able to stop Zarr and his evil plans. The production brings together an international, award-winning creative team to ensure a quality family entertainment stage show for audiences of all ages (ideally kids should be five and older).


20-22 July 2018, Gallagher Convention Centre, Johannesburg, Gauteng
The World of Dogs and Cats (WODAC) is the ideal event for animal lovers. Events taking place over the three days include arena events to dog jumping, agility, dancing with dogs, fly ball and show dogs and cats. WODAC caters for all animal enthusiasts, from fans of reptiles, parrots and budgies, to rabbits, koi fish and horses. Welfare organisations are also on hand to share information about the great work they do. Plus pet accessories and new products are on sale, offering everything you need to keep your pet happy, healthy and entertained.


14-16 September 2018, Kyalami Grand Prix Circuit, Johannesburg
Superheroes and sidekicks, Trekkies and Star Wars aficionados young and old are counting the days to Comic Con Africa - the first time this global science fiction and fantasy convention has come to the African continent. Over three days, the event will showcase comic books, sci-fi and fantasy-related film, television and similar popular genres from animation to toys, gadgets, clothing, collectible card games, table top games, anime, manga, video games, web comics and fantasy novels. Visitors can also enjoy celebrity panel discussions, seminars, workshops and autograph sessions, with Aquaman actor Jason Momoa among the big names already confirmed for the event.


5-7 October 2018, Ticketpro Dome, Johannesburg, Gauteng
rAge is South Africa's biggest annual video gaming computer, technology and geek culture exhibition. The event provides a platform to touch and feel, try and experiment. Now in its 16th year, enthusiasts can buy new games and consoles at rAge, chat to local comic book artists, or take selfies with their favourite cosplayers. Besides all the stands, retail outlets and e-sports stages, rAge also features an artist's alley, and a home-coded area where local game developers showcase their games.

Lifestyle events


6-9 September 2018, Sandton Convention Centre
The FNB JoburgArtFair, the first international art fair on the continent, plays a pivotal role in supporting the contemporary arts landscape in Africa. The event is renowned for providing a space for leading artists, galleries, collectors, writers, thinkers and art lovers to congregate.


19 August 2018, Umhlanga Ridge
The world-class Starlight Pop Opera offers lovers of classical music a wonderful opportunity to listen and enjoy a dynamic range of beautiful music, from opera to full on rock. This enchanting event is a celebration of local talent, local ingenuity and local creativity, and is not to be missed.


15 September 2018, Country Club Johannesburg
This year marks 20 years since the first Starlight Classics evening charmed South Africans with its unique blend of Afro-symphonic entertainment; 2018 is no different. Again under the directorship of maestro Richard Cock, this year's edition will again enchant audiences and offer an opportunity to enjoy leading musicians. During the Cape Town leg of the event, held at Vergelegen Wine Estate in March, the audience was treated to the likes of Lira and Riana Nel, the operatic talents of Sunnyboy Dladla and Cecilia Rangwanasha, and international jazz violinist Tim Kliphuis.


13 October 2018, Magaliesburg
Take a break from the big city and bring the family to the charming Mount Grace Country Hotel & Spa for a mountain biking challenge that suits the cycling enthusiast, keen runners, trail run devotees and even tiny tots. With 48km, 16km and 5km MTB routes, 20km and 10km running options and a 1km adventure trail for the kids, this is the ideal getaway for the active family. Race participants will also enjoy complimentary 15-minute massages, while client discounts for full treatments will be on offer at the acclaimed Mount Grace spa.


24-26 October 2018, Sandton Convention Centre
South Africa's premier wine show is currently in its 18th year, and attracts some 10 000 wine lovers annually and about 150 exhibitors comprises big brand names, boutique wineries, wine routes, imported glassware, wine accessories and wine storage systems. Aficionados can enjoy intimate winemaker tastings while the Shop@Show facility allows wine lovers the opportunity to order their show favourites for home delivery.


Disclaimer: The material is based on our specialists' views in line with current market developments and is for informational purposes only. Information pertaining to specific products or services offer by FirstRand Bank Ltd or any of its affiliates may furthermore be subject to specific terms and conditions, which terms and conditions are subject to change from time to time