EBC Financial Group (Cayman) Limited Granted Full Regulatory Licence from the Cayman Islands Monetary Authority (CIMA)

EBC Financial Group strengthens its global presence with full CIMA licence, underscoring the group’s commitment to stringent global regulatory standards EBC Financial Group – CIMA Full Regulatory License HONG KONG, March 28, 2024 (GLOBE NEWSWIRE) — EBC Financial Group (EBC Group or EBC) is pleased to announce that its Cayman Islands subsidiary, EBC Financial Group […]

EBC Financial Group strengthens its global presence with full CIMA licence, underscoring the group’s commitment to stringent global regulatory standards

EBC Financial Group – CIMA Full Regulatory License

EBC Financial Group has been granted full regulatory license from the Cayman Islands Monetary Authority (CIMA).

HONG KONG, March 28, 2024 (GLOBE NEWSWIRE) — EBC Financial Group (EBC Group or EBC) is pleased to announce that its Cayman Islands subsidiary, EBC Financial Group (Cayman) Limited, has been awarded a full Cayman Islands Monetary Authority (CIMA) licence. This significant achievement marks a major advancement in EBC’s global regulatory portfolio, following its existing accreditations from the UK’s Financial Conduct Authority (FCA) and the Australian Securities and Investments Commission (ASIC).

EBC Financial Group - CIMA Full Regulatory License

Within CIMA’s strict regulatory framework, EBC will offer more comprehensive financial services, including trusts, securities, futures, and funds, specifically catering to retail, professional, high-net-worth individuals and institutional investors.

List of EBC Financial Group Full Regulatory Licenses

A list of authorised and full regulatory licenses from the UK, Australia and Cayman Islands awarded to EBC Financial Group.

The Cayman Islands, recognized as a premier offshore financial centre, gathers 90% of the world’s banks and over 85% of hedge funds. CIMA, the Cayman Islands Monetary Authority, is renowned for its rigorous standards and comprehensive oversight, mirroring the UK’s legal framework. Strict information disclosure, client fund protection, and compliance management requirements ensure the integrity and stability of the financial sector.

Among the Global Elite with Full Licensing
Since its establishment, CIMA has issued only a limited number of full regulatory licences. In the past two years, only four entities have passed the audit. EBC Group stands as one of the very few firms to have secured the coveted full regulatory licence.

EBC Group, having undergone stringent scrutiny, secured a full regulatory licence, granting EBC Financial Group (Cayman) Limited comprehensive permissions in dealing, arranging, managing, and advising, all under CIMA’s strictest regulations, including the Securities Investment Business (SIB) framework. EBC adheres to these requirements, ensuring comprehensive investor fund security.

Before receiving the full regulatory licence from CIMA, EBC held two top global regulatory licences: EBC Financial Group (UK) Ltd is authorized and regulated by the UK’s Financial Conduct Authority (FCA); EBC Financial Group (Australia) Pty Ltd is authorized and regulated by the Australian Securities and Investments Commission (ASIC).

List of EBC Financial Group Full Regulatory Licenses

The full regulatory licence issued by CIMA consolidates EBC’s position as a global top-tier financial group, promotes cross-jurisdictional asset allocation, and provides more comprehensive framework support for expanding global services.

EBC Group holds the highest-level Corporate Banking Account with Barclays, providing equal fund security under different regulatory bodies. Consistent with EBC Financial Group (UK) Limited’s strict adherence to the FCA’s CASS rules, EBC Financial Group (Cayman) Limited rigorously complies with CIMA’s client fund protection regulations. Client funds are independently safeguarded at Barclays UK, enjoying the same AAA-level security protection.

Future Directions:
EBC Group is set to explore new horizons and expand its diversified and innovative services globally. Looking ahead, EBC will adhere to its original intention, strictly abide by CIMA’s high standards, ensure that investors enjoy a compliant trading environment, and thus build a safer regulatory protection mechanism to promote industry trust and information transparency.

For more information on EBC Financial Group, please visit: https://www.ebc.com/.

About EBC Financial Group

Founded in the esteemed financial district of London, EBC Financial Group (EBC) is renowned for its comprehensive suite of services that includes financial brokerage, asset management, and comprehensive investment solutions. With offices strategically located in prominent financial centres, such as Sydney, Hong Kong, Tokyo, Singapore, Bangkok, Limassol and more, EBC caters to a diverse clientele of professional, individual and institutional investors worldwide.

Recognised by multiple awards, EBC prides itself on adhering to the highest levels of ethical standards and international regulation. EBC Financial Group (UK) Limited is regulated by the UK’s Financial Conduct Authority (FCA), EBC Financial Group (Australia) Pty Ltd is regulated by Australia’s Securities and Investments Commission (ASIC), and EBC Financial Group (Cayman) Limited is regulated by the Cayman Islands Monetary Authority (CIMA).

At the core of EBC Group are seasoned professionals with over 30 years of profound experience in major financial institutions, having adeptly navigated through significant economic cycles from the Plaza Accord to the 2015 Swiss franc crisis. EBC champions a culture where integrity, respect, and client asset security are paramount, ensuring that every investor engagement is treated with the utmost seriousness it deserves.

Media Contact:
Douglas Chew
+6011 3196 6887
douglas.chew@ebc.com

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Presidency releases Energy Action Plan update

The Presidency has released the 18-month update on the implementation of the Energy Action Plan (EAP).

The EAP was introduced by President Cyril Ramaphosa in July 2022 and is coordinated by the National Energy Crisis Committee under the leadership of…


The Presidency has released the 18-month update on the implementation of the Energy Action Plan (EAP).

The EAP was introduced by President Cyril Ramaphosa in July 2022 and is coordinated by the National Energy Crisis Committee under the leadership of Electricity Minister, Dr Kgosientsho Ramokgopa.

The EAP’s key interventions are to:

Fix Eskom and improve the availability of existing supply.

Enable and accelerate private investment in generation capacity.

Fast-track the procurement of new generation capacity from renewables, gas and battery storage.

Unleash businesses and households to invest in rooftop solar.

Fundamentally transform the electricity sector to achieve long-term energy security.

The President’s spokesperson, Vincent Magwenya, said the EAP update highlights ‘significant progress’ made.

‘The detailed update on the Energy Action Plan shows that significant progress has been achieved over the last six months in implementing government’s plan to end load shedding.

‘Government is working tow
ards the full implementation of the Energy Action Plan to bring an end to load shedding once and for all,’ he said.

Magwenya highlighted some of the milestones made over the past six months.

‘Some of the achievements achieved in the past six months include the return of the three units at Kusile Power Station months ahead of schedule, the amount of rooftop solar installed by businesses and households, more than doubling to over 5 000MW, helping to reduce demand on the grid.

‘In December, three further Independent Power Producer [IPP] bid windows were released for 7 615MW of new capacity from solar, wind, gas and battery storage,’ Magwenya said.

Other key milestones reached include the following:

Eskom has launched the Cross Border Standard Offer Programme (CBSOP), which will procure up to 1000 MW in additional power from neighbouring countries for a period of three years.

The first project from Eskom’s Battery Energy Storage System (BESS) programme has been connected to the grid, and will provide 100 me
gawatt hours (MWh) of storage capacity. Seven other projects are in construction as part of Phase 1 of the programme, which will together provide a total of 833MWh of capacity.

An additional 3 400MW of grid capacity has been immediately unlocked in the Cape region through the implementation of curtailment, which enables Eskom to fit more generation capacity onto the grid.

The full report can be accessed on this link https://rb.gy/0ebd2b.

Meanwhile, Eskom has suspended load shedding until Sunday.

‘Due to the sustained available generation capacity and the planned return to service of 2 300MW of generation capacity by Friday, along with the anticipated low demand over the long weekend, load shedding will remain suspended until Sunday at 4pm.

‘Eskom will provide an update for the week ahead on Sunday afternoon or communicate should any significant changes occur,’ the power utility said on social media platform, X.

Source: South African Government News Agency

President Ramaphosa congratulates Senegal President-Elect

President Cyril Ramaphosa has congratulated Senegal’s President-elect, Bassirou Diomaye Faye, following that country’s recent elections.

Faye won at least 54% of the vote in Senegal’s presidential elections.

‘The Senegalese people have [lit] a beaco…


President Cyril Ramaphosa has congratulated Senegal’s President-elect, Bassirou Diomaye Faye, following that country’s recent elections.

Faye won at least 54% of the vote in Senegal’s presidential elections.

‘The Senegalese people have [lit] a beacon which will usher in a new hope in the journey of rebuilding Africa by opting for a peaceful change of government as opposed to violence,’ President Ramaphosa said.

A statement released by the Presidency reflected on the close relations enjoyed by South Africa and its West African counterpart.

‘South Africa and Senegal enjoy close political, trade and social relations deepened by strong historical ties rooted in the anti-apartheid struggle. President Ramaphosa has committed to strengthen the bilateral relationship between South Africa and Senegal in pursuit of a better and peaceful continent.

‘The outcome of the election bears testimony to the resilient spirit of the Senegalese people, who preferred the democratic course of change of government, through votin
g. The President applauded the other contestants for displaying maturity in accepting the election outcome,’ the statement read.

Source: South African Government News Agency

KZN man sentenced to four life terms for murdering family members

A police investigation has secured four terms of life imprisonment for 35-year-old Nthutuko Mthethwa for the murder of three Mkhize family members at their home in Umntilombo, Eshowe, in April 2023.

The Mtunzini High Court found him guilty of the mur…


A police investigation has secured four terms of life imprisonment for 35-year-old Nthutuko Mthethwa for the murder of three Mkhize family members at their home in Umntilombo, Eshowe, in April 2023.

The Mtunzini High Court found him guilty of the murders of three family members.

On the evening of 12 April 2023, the Mkhize family was attacked by two armed suspects who shot at six family members.

Three people were pronounced dead at the scene while the other three were taken to hospital for medical attention.

An investigation led the police to Mthethwa who was arrested the following day. The Investigating Officer successfully opposed the accused’s several bids for bail and he was kept behind bars until his sentencing on Wednesday.

Mthethwa was sentenced to a life term imprisonment for each murder and another life term behind bars for attempted murder, as well as an additional 22 years in prison.

The Provincial Commissioner of KwaZulu-Natal, Lieutenant-General Nhlanhla Mkhwanazi, applauded the investigatin
g team for working around the clock to arrest the suspect as well as for presenting a strong case in court, which led to the attainment of a maximum sentence.

‘Our mandate is to prevent and combat crime, however, if a crime happens, our reactive capacity should dig deep to bring justice to the families of the victims.

‘We applaud the Investigating Officer and all those that he worked with in ensuring that justice was served and bring closure to the family,’ said Lieutenant-General Mkhwanazi.

Police are still searching for Sicelo Dambayi Sikhakhane, 33, who is believed to be the second suspect on the matter.

Source: South African Government News Agency

KZN man sentenced to four life terms for murdering family members

A police investigation has secured four terms of life imprisonment for 35-year-old Nthutuko Mthethwa for the murder of three Mkhize family members at their home in Umntilombo, Eshowe, in April 2023.

The Mtunzini High Court found him guilty of the mur…


A police investigation has secured four terms of life imprisonment for 35-year-old Nthutuko Mthethwa for the murder of three Mkhize family members at their home in Umntilombo, Eshowe, in April 2023.

The Mtunzini High Court found him guilty of the murders of three family members.

On the evening of 12 April 2023, the Mkhize family was attacked by two armed suspects who shot at six family members.

Three people were pronounced dead at the scene while the other three were taken to hospital for medical attention.

An investigation led the police to Mthethwa who was arrested the following day. The Investigating Officer successfully opposed the accused’s several bids for bail and he was kept behind bars until his sentencing on Wednesday.

Mthethwa was sentenced to a life term imprisonment for each murder and another life term behind bars for attempted murder, as well as an additional 22 years in prison.

The Provincial Commissioner of KwaZulu-Natal, Lieutenant-General Nhlanhla Mkhwanazi, applauded the investigatin
g team for working around the clock to arrest the suspect as well as for presenting a strong case in court, which led to the attainment of a maximum sentence.

‘Our mandate is to prevent and combat crime, however, if a crime happens, our reactive capacity should dig deep to bring justice to the families of the victims.

‘We applaud the Investigating Officer and all those that he worked with in ensuring that justice was served and bring closure to the family,’ said Lieutenant-General Mkhwanazi.

Police are still searching for Sicelo Dambayi Sikhakhane, 33, who is believed to be the second suspect on the matter.

Source: South African Government News Agency

Call to use child car seats

In anticipation of the increase in traffic volumes this Easter long weekend, the Road Traffic Management Corporation (RTMC) has called for an investment in child car seats and restraints to ensure the safety of children in vehicles.

‘The RTMC calls f…


In anticipation of the increase in traffic volumes this Easter long weekend, the Road Traffic Management Corporation (RTMC) has called for an investment in child car seats and restraints to ensure the safety of children in vehicles.

‘The RTMC calls for greater cooperation from motorists to reduce the number of children who are injured or killed on the roads,’ RTMC Spokesperson Simon Zwane said on Wednesday.

South African regulations state that (a) all adults must use seat belts if available; (b) the driver must ensure a child aged between three to 14 uses a child restraint, if available, or seat belt if available; and (c) infants under three must be strapped into a car seat where possible. Drivers may be held accountable for failure to comply.

‘We know that seatbelts save children’s lives, because every day we see children who are severely disabled or who die due to road accidents because they were not wearing a seatbelt.

‘Children who are not properly restrained in a car are catapulted out of the car on
impact, and the consequences can be devastating; nothing but a seatbelt/car seat can prevent that. Making sure a child is properly restrained is the easiest thing parents can do to ensure their child’s safety,’ Associate Professor Ursula Rolhwink of the University of Cape Town (UCT) Neuroscience Institute and spokesperson for the African Brain Child Initiative said.

Executive Director and Spokesperson for ChildSafe South Africa Zaitoon Rabaney said the number of lives lost on the roads, particularly among children, is unacceptable and preventable.

‘This Easter, we urge drivers to reflect on their road behaviour and commit to making the necessary changes. By simply buckling up, respecting speed limits, and ensuring our children are safely secured in appropriate car seats, we can dramatically reduce the risk of fatalities and severe injuries,’ Rabaney said.

The World Health Organisation Road Traffic Injury fact sheet 2022 shows the use of a seat belt reduces the risk of fatal injury by 40 – 50% for drivers a
nd front-seat occupants and by up to 25% for rear-seat occupants.

According to the African Brain Child’s report, 96 out of every 100 children who are admitted to ICU because they were involved in a motor crash have a moderate or severe injury to the head because they were not wearing a seat belt.

Source: South African Government News Agency

X marks the spot

With the clock inching closer to Voting Day when citizens will mark their X next to the name of their preferred candidate in the 2024 general elections, it is important that we all go into the various voting booths across the country armed with all th…


With the clock inching closer to Voting Day when citizens will mark their X next to the name of their preferred candidate in the 2024 general elections, it is important that we all go into the various voting booths across the country armed with all the relevant information to make an informed choice, writes Neo Semono.

The 2024 National and Provincial Elections coincide with the 30 years of freedom and democracy celebrations that the country is observing this year.

Young and old registered voters will make their mark in South Africa’s seventh democratic elections on 29 May after which the seventh administration will come into being.

While we are accustomed to receiving two ballots in national and provincial elections, things will be a little different this Voting Day.

Instead of the usual two – registered voters will this time around receive three ballot papers – wherein to mark their X.

The three ballots are the result of the passing of the Electoral Amendment Act of 2023.

The Electoral Amendment Act o
f 2023 which President Cyril Ramaphosa signed into law on 17 April 2023, gives effect to the Constitutional Court judgment handed down in June 2020.

The judgement declared the Electoral Act of 1998 unconstitutional for stipulating that election to the National Assembly and provincial legislatures may only be attained through membership of political parties.

The court gave Parliament two years to remedy the defects. Since the court decision, the Electoral Bill was born and extensive public consultations on the bill were held by Parliament’s National Assembly and the National Council of Provinces.

This prompted Parliament to request two deadline extensions from the court with the final deadline for Parliament to pass the bill having been set at 28 February 2023.

And while there were hiccups, the Act finally became law in June 2023.

Less than a year later since becoming law, South Africans will be voting in elections that include independent candidates.

Come Wednesday, 29 May, voters will receive three bal
lots – the first being for the election of the compensatory 200 members of the National Assembly, which is only contested by political parties on a closed list basis.

According to the Electoral Commission (IEC), the second ballot will be for the regional elections of the 200 members of the National Assembly. This ballot will vary from region to region, depending on which parties and independent candidates contest the relevant regional election. Only the names of political parties and independent candidates that have met the requirements to contest each regional election will appear on this ballot.

According to the commission, in the national elections, independent candidates will contest the 200 regional seats alongside political parties, while the other 200 seats will be compensatory to bring back general proportionality for political parties.

This means that the total votes for a party in a region determine the number of seats they hold.

The third ballot which is the provincial ballot, will be for elect
ing the members of the provincial legislature in each of the nine provinces. It contains the names of the political parties and independent candidates that have met the requirements to contest each provincial election.

However, while independent candidates can contest in multiple regions, they are limited to winning just one seat in the National Assembly.

The participation of independent candidates in the country’s elections for the very first time, is a feather in South Africa’s cap. It’s a reflection of a democracy in action.

And while the country is not without its faults, including corruption and the continued impact of the state capture years among a list of things that need attention, our democracy is a robust one and very much alive with individuals and organisations able to approach the courts for relief.

The judgment in the matter of the New Nation Movement NPC and others V President of the Republic of South Africa and others where the Electoral Act of 1998 was declared unconstitutional for s
tipulating that election to the National Assembly and provincial legislatures may only be attained through membership of political parties, is one such example.

The year of the three ballots at the polls is also the year wherein the South African voters’ roll which was first compiled ahead of the 1999 national and provincial elections, has swollen to 27.79 million registered voters.

In 1999, the voters’ roll stood at 18.17 million registered voters.

While it is not a perfectly hung portrait, the South African canvass is continually being improved upon with the flair and outspokenness that we’re known for.

Let us go out and exercise our right to vote. The South African Inc picture is far from being complete, it needs you and I.

Source: South African Government News Agency

Motorists urged to prioritise safety ahead of Easter weekend

As thousands of South Africans are set to hit the country’s freeways for the long Easter weekend on Thursday, Newcastle Local Municipality Mayor Xolani Dube has urged all motorists to prioritise safety, adhere to traffic regulations and exercise cauti…


As thousands of South Africans are set to hit the country’s freeways for the long Easter weekend on Thursday, Newcastle Local Municipality Mayor Xolani Dube has urged all motorists to prioritise safety, adhere to traffic regulations and exercise caution while traveling.

Dube made the call at the launch of a comprehensive road safety campaign on Wednesday, ahead of the long weekend.

“By working together, we can make a significant impact in reducing road accidents and ensuring a safer community for everyone,” Dube said.

The Newcastle Local Municipality, in collaboration with the provincial Health Department and various stakeholders, including Heineken Beverages, the KwaZulu-Natal Liquor Authority, the South African Police Service, and the South African National Taxi Council (SANTACO) Amajuba Region, launched the campaign in an effort to curb road accidents during the Easter holidays.

Dube said the main aim of the campaign is to convene important stakeholders to promote safer road usage over the upcoming hol
idays, with the goal of lowering traffic accidents and encouraging responsible driving behaviour.

During the launch, representatives from the various stakeholders distributed essential road safety paraphernalia to drivers.

Dube said these efforts are focused on fostering a safer road environment for all road users and encouraging responsible driving habits.

Members of the police emphasised the need of vehicle inspections to guarantee the vehicle’s roadworthiness and cautioned against driving while intoxicated and speeding.

The police have placed a strong emphasis on the value of vehicle inspections to guarantee roadworthiness and discouraged driving while intoxicated and at high speeds.

‘The Easter holiday period often sees a surge in road accidents, and it is imperative that we take proactive measures to prevent unnecessary loss of life and property. Through collaborative efforts with our partners and stakeholders, we are committed to promoting road safety awareness and encouraging responsible drivin
g habits,” the police said.

Newcastle Municipality is a local municipality within the Amajuba District Municipality in KwaZulu-Natal. Newcastle is the third largest city in the province.

Source: South African Government News Agency

Motorists urged to prioritise safety ahead of Easter weekend

As thousands of South Africans are set to hit the country’s freeways for the long Easter weekend on Thursday, Newcastle Local Municipality Mayor Xolani Dube has urged all motorists to prioritise safety, adhere to traffic regulations and exercise cauti…


As thousands of South Africans are set to hit the country’s freeways for the long Easter weekend on Thursday, Newcastle Local Municipality Mayor Xolani Dube has urged all motorists to prioritise safety, adhere to traffic regulations and exercise caution while traveling.

Dube made the call at the launch of a comprehensive road safety campaign on Wednesday, ahead of the long weekend.

“By working together, we can make a significant impact in reducing road accidents and ensuring a safer community for everyone,” Dube said.

The Newcastle Local Municipality, in collaboration with the provincial Health Department and various stakeholders, including Heineken Beverages, the KwaZulu-Natal Liquor Authority, the South African Police Service, and the South African National Taxi Council (SANTACO) Amajuba Region, launched the campaign in an effort to curb road accidents during the Easter holidays.

Dube said the main aim of the campaign is to convene important stakeholders to promote safer road usage over the upcoming hol
idays, with the goal of lowering traffic accidents and encouraging responsible driving behaviour.

During the launch, representatives from the various stakeholders distributed essential road safety paraphernalia to drivers.

Dube said these efforts are focused on fostering a safer road environment for all road users and encouraging responsible driving habits.

Members of the police emphasised the need of vehicle inspections to guarantee the vehicle’s roadworthiness and cautioned against driving while intoxicated and speeding.

The police have placed a strong emphasis on the value of vehicle inspections to guarantee roadworthiness and discouraged driving while intoxicated and at high speeds.

‘The Easter holiday period often sees a surge in road accidents, and it is imperative that we take proactive measures to prevent unnecessary loss of life and property. Through collaborative efforts with our partners and stakeholders, we are committed to promoting road safety awareness and encouraging responsible drivin
g habits,” the police said.

Newcastle Municipality is a local municipality within the Amajuba District Municipality in KwaZulu-Natal. Newcastle is the third largest city in the province.

Source: South African Government News Agency