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SA’s largest pension fund administrator Alexforbes, which is nearly 40% owned by Patrice Motsepe’s African Rainbow Capital, says retrenchments among its clients have more than halved year-on-year, indicating that the economic prospects for the country are improving.

But CEO Dawie de Villiers said the company, which changed its name from Alexander Forbes in March this year, had yet to see any “big pick-up” in employment, which would indicate that companies that retrenched during the worst of the pandemic have resolved to keep their staff numbers where they are for now...

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