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Let’s be clear about why we, GroundUp, are focusing on 3Sixty Life: most of its customers are Numsa members. Numsa, South Africa’s largest union, is also 3Sixty Life’s owner. The company appears to have grossly mismanaged workers’ money.

It is telling that amaBhungane and GroundUp have failed to question the Prudential Authority (PA) on why all SA’s black banks have been liquidated or swallowed up by big banks. The evidence on the ground is that the PA is purging and destroying all black insurance companies.

Financial authorities warned for months that Numsa-owned insurer 3Sixty Life was approaching collapse. Despite a new CEO at the helm, the co

Financial authorities warned for months that Numsa-owned insurer 3Sixty Life was approaching collapse. Despite a new CEO at the helm, the co

Numsa-owned insurer 3Sixty Life: a lesson in how not to run a company, part two.

3Sixty Life: a lesson in how not to run a company, part two

3Sixty Life: a lesson in how not to run a company, part two.

3Sixty Life, currently under curatorship, made huge loans which haven’t been repaid.

3Sixty Life, currently under curatorship, made huge loans which haven’t been repaid

Financial difficulties facing a business owned by the National Union of Metalworkers of South Africa have exposed tensions in the country’s largest union.