Twenty-eight female guards were unfairly dismissed by a security company because the client‚ Metrora.
You can access a unit trust-based investment product by investing as little as R62 a month for your child's education, a home of your own or just funding an emergency through the post office.
The Postbank As'Investe plan, a low-income investment product offered by the post office and Umbono Capital, is aimed at bringing to fruition some goals that appear impossible to achieve.
Umbono Capital chief executive Tendai Musikavanhu says: "We have developed this plan specifically for lower-income clients who frequently find it impossible to realise their dreams."
This cost-effective starter-packbased product was initially launched in Johannesburg in November 2004 and spread nationally because of its success.
It is now available at more than 100 branches across the country.
Like the Mzansi Account, which helped provide access to banking services for the un-banked, the Postbank As'Investe Plan is also expected to reduce debt and build savings for an improved lifestyle.
Postbank managing director Totsie Memela-Khambula says: "For the first time ordinary South Africans can access a unit-trust based investment product via the post office.
"This furthers our mandate to reach the poor with financial products they can access in their own communities."
The Postbank As'Investe Plan invests your money in unit trusts and, to protect you, policyholders are covered by a built-in R5000 funeral and R10000 accidental death cover underwritten by Old Mutual.
You do not have to have a medical examination to qualify for the funeral cover.
So, how does it work?
After paying your first monthly premium of R62 at any Postbank counter, you will receive your starter pack.
First-time investors must be under the age of 63.
Included in the starter-pack is important contract information about the investment.
In the starter-pack you will also find a card with your unique policy number.
Make sure you keep this in a safe place because every time you pay your monthly premiums in cash, you must present it.
If you pay at least 11 of the 12 premiums due in any given year, you might qualify for a rebate of up to R48, which will be added to your investment.
After paying the first six premiums you will be able to skip up to six premiums during the remaining terms of your policy in case of emergency.
This will help ensure that your policy does not lapse during periods of financial difficulty.
In such a situation you can make a one-part withdrawal against your policy every five years.