The OFM Business Hour: Recent Episodes
OFM
The latest business news from Central SA. Presented by Olebogeng Motse and produced by Aaron Masemola.
International trade law specialist Adv. Liteboho Mphoso recently authored an article titled The African Continental Free Trade Agreement (AfCFTA) versus Africa’s Infrastructure Deficit, soon to be featured in the Afronomics academic forum. She joined the OFM Business Hour to shed light on the agreement’s goals and the major challenges it faces. This is part 1.
Die impak van beplande instandhoudingswerk aan die Lesotho-hooglandwaterprojek-tonnel sou na verwagting geringe impak op watervoorsiening hê. Kommer neem egter toe onder inwoners van Clarens in die Oos-Vrystaat, met die dorp se eie waterreserwes wat vinnig leegloop.
“Ons gemeenskap staar ‘n reuse uitdaging in die gesig.” Inwoner en lid van die Clarens sakekamer, Gert Kruger, sê aan OFM Business Hour inwoners moet nou staatmaak op reserwes uit ‘n dam wat slegs genoeg water vir ses tot agt weke het. Voortgesette wateronderbrekings is die gevolg van die ses maande lange instandhoudingsproses.
The Department of Employment and Labour recently held a jobs training and skills development fair in Bloemfontein. Emily Maneli, Chief Director of Provincial Operations for the Free State, discussed the event on the OFM Business Hour and how it's intended to create work opportunities for job seekers in the Free State.
Did you know that the Industrial Development Corporation (IDC) funds businesses which are start-ups, those that are expanding and acquisitions? Mmeme Mhlahlo, Free State Regional Manager for the IDC tells the OFM Business Hour more.
After more than a month of public voting for the Best of Bloemfontein Readers’ Choice Awards, the winners will be revealed on the evening of Wednesday, 23 October 2024. The prestigious awards ceremony, held at Monte Bello Estate just outside Bloemfontein, is proudly sponsored by Standard Bank. Kevin de Beer, Head of Client Coverage for Business Banking in the Free State and Northern Cape at Standard Bank, shares more details.
Kholo Magagane, the Head of Marketing at MTN South Africa shares what's in store for users thanks to the MTN’S Win Win Summer Promotion.
We discuss the legacy and impact of former Reserve Bank Governor, Labour Minister, and Finance Minister Tito Mboweni on South Africa’s economy and big business with Alan Mukoki, CEO of the South African Chamber of Commerce and Industry (SACCI). Mboweni passed away this weekend after a brief illness.
Nashua continues to empower businesses and homeowners with alternative energy solutions. Telling us more on the OFM Business Hour is Jaco Peyper, Nashua Group Managing Director in the Free State and Northern Cape as well as Rikus Kruger Group Sales Director in the Free State, Northern Cape and Lesotho.
Do you want to advance your management and business education in 2025? Well, look no further than the esteemed University of the Free State (UFS) Business School. Prof Nicolene Barkhuizen, joins the OFM Business Hour to discuss the numerous offerings at the UFS Business School which can help advance your professional journey.
Acclaimed financial journalist, business writer, and speaker Bruce Whitfield regards his recent exit from the beloved Money Show on 702/CapeTalk as a fitting conclusion that has broadened his horizons to exciting new projects and opportunities. Among these highly anticipated endeavors is his upcoming book, The One Thing: Small Ideas, Big Outcomes, A Brighter Future for South Africa, along with several imminent audio projects and an MBA degree.
Die Onafhanklike Kommunikasie-owerheid van Suid-Afrika (Icasa) se ekwiteitsregulasies bly ‘n mes wat oor die bedryf se kop hang. MyBroadband-redakteur Jan Vermeulen sê sonder tussenkoms mag dit ander buitelandse rolspelers in die bedryf afskrik om sake te doen of in Suid-Afrika te belê. Vermeulen keer terug na die OFM Besigheidsuur om Starlink se vertraagde toetrede tot Suid-Afrika te bespreek.
Die minister van kommunikasie, Solly Malatsi, het 'n plan aangekondig wat die deur vir Elon Musk se SpaceX sal oopmaak om sy satelliet-breëbanddiens, Starlink, in Suid-Afrika te loods. Jan Vermeulen, redakteur van MyBroadband, sluit by die OFM Besigheidsuur aan om hierdie ontwikkeling te bespreek en verduidelik watter regulatoriese uitdagings die bekendstelling van Starlink in Suid-Afrika belemmer het. Dit is die eerste deel van hulle gesprek.
OFM's Olebogeng Motse speaks to Richard Mukheibir, CEO and co-founder of Cash Converters.
OFM Nuusbestuurder, Morné van Rooyen, skop ons twee-pot aftree-stelsel reeks af deur met Eric Jordaan van Crue Invest te gesels. Dit is die eerste deel van die reeks waar hulle die grondbeginsels van die stelsel bespreek
We continue discussing the Companies Amendment Act with Laurence Grubb Master Reward Specialist and Exco Member at the South African Reward Association (SARA). He says government needs to publish the implementation dates of the changes in the act and publish regulations accompanying some of those changes which will aid understanding and implementation of these amendments.
In 'n onlangse prestasie het Virseker die gesogte toekenning as beste korttermynversekeraar in die Ask Afrika Orange Index® verower. Hierdie toekenning, wat al 23 jaar lank 'n toonaangewende maatstaf is van uitnemendheid in kliëntediens, dek 26 industrieë en 200 handelsmerke. Meer as 48 000 kliënte se terugvoer word in ag geneem om wenners te bepaal, en Virseker het bo-aan die lys in korttermynversekering geëindig.
Volgens Johanni Jennings, Hoof van Bemarking by Virseker, is hierdie erkenning 'n groot eer. Sy sê dat dit nie net die maatskappy se bemarkingspogings weerspieël nie, maar veral kliënte se ware ervaringe. "Dit bewys dat ons nie net belowe om 'n vennoot te wees waarop mense kan staatmaak nie, maar dat ons dit daagliks bewys, veral in krisistye."
We discuss the Companies Amendment Act with Laurence Grubb Master Reward Specialist and Exco Member at the South African Reward Association (SARA). The amendments require companies in the country to disclose their remuneration reports, policies and the pay gap between the highest and lowest-paid employees amongst other things. Grubb says the Amendment Act is not business friendly.
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Ons hoor by Nettie de Beer, verkoopsbestuurder van Mahareng, die besigheid wat Bloemfontein Courant en Get It Bloemfontein publiseer, oor vanjaar se Best of Bloem leserskeuse-toekennings.
South African businesses are optimistic about the strides made in clearing the visa backlog, but speed may come at a cost. Marisa Jacobs, Managing Director of Xpatweb, shares insights on the OFM Business Hour about the delicate balance between efficiency and accuracy in visa approvals following encouraging engagements with Home Affairs Minister, Leon Schreiber on efforts to eradicate the backlog.
We unpack Botswana’s import bans on SA fruits and vegetables with Wolfe Logan Braude, manager of Agbiz Fruit on the OFM Business Hour.
The Sasol Rewards loyalty programme has attracted just over 1,8 million members in just two years. Telling us more about the new campaign around the programme is Zanele Hadebe - Vice President Strategic Marketing for Sasol Energy Marketing & Sales.
Onwettig ingevoerde (of grys) voertuie bly ’n hindernis vir Suid-Afrika en maak 7,5% van die land se motorvloot van 12,5 miljoen voertuie uit. Lizette Erasmus, Bestuurder van Versekeringkundigheid by IntegriSure Makelaars, het aan die OFM Sake-uur gesê dat hierdie motors, wat dikwels betrokke is by kriminele aktiwiteite as gevolg van hulle onopspoorbaarheid, boonop ook bydra tot ’n aansienlike verlies aan inkomste vir die regering. Sy het met OFM se nuusredakteur, Morné van Rooyen, gepraat oor die finansiële risiko’s verbonde aan die aankoop van so ’n voertuig.
The Opening of the Free State Legislature took place earlier today, during which the Premier presented the State of the Province Address, which outlined key policy goals and deliverables for the coming year, as well as the provinces' effective response to the challenges met during the period under review. OFM News’s Zenande Mpane spoke to Life Mokone, Free State Legislature spokesperson and head of communication, to find out more…
The economic cost of Gender-based-violence South Africa is estimated to be between R28.4 billion and R42.4 billion annually, considering healthcare, legal costs, lost productivity, and social services. Lesley Ann van Selm, Founder and Managing Director of Khulisa Social Solutions, gives reasons why programmes are failing despite the investments being made.
The Opening of the Free State Legislature took place earlier today, during which the Premier presented the State of the Province Address, which outlined key policy goals and deliverables for the coming year, as well as the provinces' effective response to the challenges met during the period under review. OFM News’s Zenande Mpane spoke to Life Mokone, Free State Legislature spokesperson and head of communication, to find out more…
In some better news: The value women bring to leadership and the boardroom is increasingly being acknowledged. Businesses are no longer simply looking to boost gender equity numbers; rather, they are diversifying leadership to ensure the future sustainability of a business in a world that requires a far more empathetic and transformative leadership approach. In this special two-part interview, we bring you all the latest on this topic.
In some better news: The value women bring to leadership and the boardroom is increasingly being acknowledged. Businesses are no longer simply looking to boost gender equity numbers; rather, they are diversifying leadership to ensure the future sustainability of a business in a world that requires a far more empathetic and transformative leadership approach. In this special two-part interview, we bring you all the latest on this topic.
Vroue het tradisioneel baie rolle op te vervul, en dit bly moeilik om al die take balanseer. Vroue voel oor die algemeen oorweldig deur al die verantwoordelikhede, en dra meer skuldgevoelens oor hulle gedrewenheid in hulle beroepe. Dr Lindi Nel, ‘n kliniese sielkunige Bloemfontein van Bloemfontein gesels met Karen van der Berg van OFM hieroor.
Charnie-Lee Adams Kruger, is die bestuurder van die Check Point Country, ‘n internasionale kuberveiligheids-maatskappy. Sy is een van Afrika se min vroue kundiges in die veld van kuberveiligheid en sê die beroep moet meer vroue trek. Charnie-Lee gesels met Karen van der Berg van OFM oor waarom daar nog hindernisse vir vroue in die bedryf is en hoe om dit te oorkom.
Dit mag dalk wees oor vroue soveel balle in die lug hou en ook in die laaste paar dekades toegetree het tot die mark as die hoofbroodwinners, dat hulle meer spanning ervaar wanneer dit kom by finansiële beplanning. So sê Amelia de Milander, die bemarkingsbestuurder van DebtBusters, ‘n maatskappy wat skuld bestuur. Sy gesels met Karen van der Berg van OFM.
Daar is bevind dat wanneer gholfspelers hulle fone om persoonlike redes gebruik het, soos om na plasings op sosiale media te kyk of om op persoonlike boodskappe te reageer, hulle prestasie nie daardeur geraak is nie. Wanneer hulle egter werkverwante e-posse gelees of sakeoproepe geneem het, het hulle prestasie afgeneem. So vertel die hoofnavorser dr Daniël le Roux van die Kognisie- en Tegnologienavorsingsgroep in die Departement Inligtingwetenskap aan die Universiteit van Stellenbosch. Hy gesels met Karen van der Berg van OFM.
Dr. Erika Zeelie, die adjunkhoof van die handelsfakulteit by die onafhanklike onderwysinstituut sê verbruikers se verwagtinge in terme van diensvlakke is op ‘n baie hoë on-onderhandelbare vlak. Gasvryheid in besighede het ‘n kompeterende ding geword en kan nie ignoreer word nie. Sy vertel aan OFM se Karen van der Berg meer hieroor.
With the types of technology available to automate and streamline processes, the integration of technology into higher educational institutions and other businesses should no longer be viewed as choice, but a necessity. Carl Dahms, product owner at Braintree, an IT solutions company, tells Robyn Schutte of OFM why this is such an important component and why there is a misconception about the costs involved.
Die nuus dat die eiendomsontwikkelingsmaatskappy, Kanton, die grootste ontwikkelingsprojek in die geskiedenis van die Afrikaanse-taal en kultuur gemeenskap aanpak, is met groot vreugde ontvang. Kanton, Solidariteit se beleggingsmaatskappy, se besturende direkteur, Henk Schalekamp sê die kampus sal teen R3,2 miljard gebou word. Maar hoe kan so groot ontwikkeling LOS van die staat deur 'n gemeenskap self gefinansier word?
Indien die voortbestaan van gehalte joernalistiek, ook in Afrikaans, die kerndoel is, is die jongste aankondiging dat oor die behoud van 66 redaksionele poste by Media24, baie goeie nuus.
Hierdie poste raak hoofsaaklik joernaliste van die gedrukte koerante waarvan Media24 in die nabye toekoms wil afsien.
Research shows that South Africa’s savings rate stands at a mere 0.5. This is concerning, as it indicates a significant savings challenge among many South Africans, and in the event of an emergency, this implies that people have to rely on credit or family and friends to cover for their emergencies.
Reuben Oosthuysen, Customer Engagement Manager at Hollard Life Solutions, tell OFM’s Robyn Schutte. how insurance can safeguard consumers in the event of an emergency.
Die belangrikheid van doeltreffende kommunikasie in die werkplek en om 'n boodskap duidelik oor te dra is 'n baie belangrike vaardigheid. Dit beïnvloed produktiwiteit en verhoudinge in die werkplek. Juanita Vorster vertel jou vanaand, in twee insetsels, hoe om die boodskap in jou werkplek duidelik oor te dra en vertel dit is soms beter om jou werknemer iets te vra as om hom bloot ‘n opdrag te gee.
Die belangrikheid van doeltreffende kommunikasie in die werkplek en om 'n boodskap duidelik oor te dra is 'n baie belangrike vaardigheid. Dit beïnvloed produktiwiteit en verhoudinge in die werkplek. Juanita Vorster vertel jou vanaand, in twee insetsels, hoe om die boodskap in jou werkplek duidelik oor te dra en vertel dit is soms beter om jou werknemer iets te vra as om hom bloot ‘n opdrag te gee.
In ons laaste insetsel vir vanaand: ’n Uitbreking van siektes onder pluimvee in Brasilië beklemtoon die dringende behoefte aan beleidshervormings rondom invoere in Suid-Afrika. OFM Agri se Robyn Schutte gesels met hoof uitvoerende beampte van Hume International, Fred Hume, oor hoe die streng beleide die invoer van meganies ontbeende produkte die Suid-Afrikaanse ekonomie beïnvloed.
Met die Olimpiese Spele in volle swang, word daar ‘n oog op medaljes gehou. En ‘n mens kan met reg dalk wonder, hoekom presteer Suid-Afrika se atlete onder die vlak van ons bevolking. Die ekonoom, prof Waldo Krugel, verbonde aan die Noordwes-Universiteit sê daar is heelwat ekonomiese redes waarom Suid-Afrikaanse atlete nie heeltemal presteer soos ‘n mens graag sou wou hê nie. Hy gesels met OFM se Karen van der Berg, hieroor.
It is a revolutionary piece of equipment. That is the Da Vinci XI surgical robot that is being introduced at the Busamed Gateway Private Hospital in Umhlanga tomorrow morning. And although it will not be able to replace any surgeons, it can enhance the theatre experience. Imraan Soomra, the CEO of EASE, the company responsible for bringing the robot to South-Africa, tells Kayla Barker of OFM, more about this.
Pelgrimstogte het die laaste paar jaar in gewildheid geroei, reg oor wêreld en in Suid-Afrika. Die unieke tog kan nou ook in Sentraal Suid-Afrika ervaar word. Behalwe vir die ekonomiese voordeel hier, het dit ook ‘n groot liefde vir die Vrystaat aangewakker onder toeriste. Renee Wolfaardt wat die Pelgrimsroetes in die Oos-Vrystaat begin het, vertel aan Karen van der Berg van OFM hiervan.
Pelgrimstogte het die laaste paar jaar in gewildheid geroei, reg oor wêreld en in Suid-Afrika. Die unieke tog kan nou ook in Sentraal Suid-Afrika ervaar word. Behalwe vir die ekonomiese voordeel hier, het dit ook ‘n groot liefde vir die Vrystaat aangewakker onder toeriste. Renee Wolfaardt wat die Pelgrimsroetes in die Oos-Vrystaat begin het, vertel aan Karen van der Berg van OFM hiervan.
Die Noord-Kaapse Kamer van Koophandel is druk besig met planne om die ekonomie hier ‘n hupstoot te gee. Maar aangesien die provinsie met die grootste oppervlak die kleinste bevolking huisves, is dit nie aldag maklik nie. Sharon Steyn van Kamer vertel meer.
World Head and Neck Cancer Day is commemorated on 27 July each year to raise awareness. OFM Content Manager Elzette Boucher-Kruger speaks to surgeon, Dr Mark Torres-Holmes…
Die Reserwebank se Monetêre Beleidskomitee het verlede week die repokoers onveranderd gelaat. Vooruitsigte lyk beter, maar inflasiekoers is nog nie waar dit moet wees nie. En dit blyk dat dit veral op ‘n uitwerking op die middelkas het. Elise Kruger, ekonoom verduidelik aan Karen van der Berg van OFM hoekom die middelklas in die huidige ekonomiese klimaat steier.
Die Reserwebank se monetêre beleidskomitee het Donderdag, 18 Julie, sy twee maandelikse besluit oor rentekoers aangekondig. En dit is onveranderd. Maar wat beteken die aankondiging presies op die ekonomiese front? Dr. Arno van Niekerk, vertel jou meer.
Sosiale media en Kunsmatige Intelligensie is twee dinge wat nie aan die agterspeen mag suig, wanneer dit by die bedryf van besighede kom nie. Die sosiale media kenner, Magriet Groenewald, lig jou in oor hoe om dit in te span sodat jou besigheid kan floreer. In die tweede deel van ons onderhoud met haar, gee sy ook wenke hoe enigiemand sosiale media vir hulle werkplek kan behartig.
Die lugredery, Airlink, het skokgolwe deur Sentraal Suid-Afrika gestuur met die aankondiging dat hulle vanaf volgende jaar af nie meer tussen Bloemfontein en Kaapstad gaan vlieg nie en die daaglikse vlugte op die roete reeds van Oktober af verminder. Rodger Foster, die uitvoerende hoof en besturende direkteur van Airlink verduidelik die besluit.
Die inligting is en, en dinge lyk nie baie belowend wat betref die Suid-Afrikaanse Televisie-bedryf nie, dit terwyl stromingsdienste goed groei. Ons kyk na die jongste data en sien dat dit ‘n kwessie van voorkeur en bekostigbaarheid is.
Grootskaalse wanorde het onlangs losgebars in openbare hospitale nadat kuberkrakers die staat se laboratoriums verlam het. Die krakers het toegeslaan op die rekenaarstelsel waar alle pasiënte in in staats-hospitale en klinieke se inligting gehou word.
‘n Kenner in kuberveiligheid van die Check Points Workspace Solutions, Shayimmamba (Sha-yee-mamba) Conco vertel aan OFM se Robyn Schutte waarom besighede hulle kuberveiligheid moet opskerp.
Ons sluit vanaand se program af met nuus uit die Vaaldriehoek. Jaco Verwey, die president van die Goue Driehoek Kamer van Koophandel, gesels met die Sakeuur en spreek sy hoop uit dat die nuwe kabinet ‘n voorkeur sal gee aan ekonomiese groei sal gee voor sakesentrums dood bloei.
Dit is belangrik vir werknemers om ten alle tye veilig te voel in hulle werkplek veral omdat dit ‘n direkte invloed op produktiwiteit het. Die Sakeuur, gesels met Jamie-Lee Basson, beroepsveiligheid en –gesondheidsbestuurder by LabourNet in Bloemfontein oor die kwessie.
Prof Waldo Krugel, van die Skool vir ekonomie aan die Noordwes-Universiteit praat met die Sakeuur, oor waarom Suid-Afrika nog lank nie uit die moeilikheid is nie en waarom dit nog swaar gaan daar buite, ondanks die hoop wat die nuwe kabinet gebring het.
If you’re considering starting on an academic journey be it either as a matriculant, job seeker or current employee looking to improve your skillset, the next podcast is for you.
OFM Content Manager, Elzette Boucher-Kruger, speaks to Dr Mandi Joubert, the Executive Head of Academics at Eduvos, the award-winning private higher education institution with 12 campuses across South Africa offering over 20 accredited qualifications in the faculties of Applied Science, Commerce & Law, Humanities and Information Technology.
Dr Joubert previously held the positions of Head of Campus Operations and Customer Experience, Campus Director, Academic Manager and Law Lecturer. She now leads the academic function at Eduvos, ensuring academic excellence.
In Central SA, Eduvos has campuses in Bloemfontein, Potchefstroom and Vanderbijlpark and has 4 intake opportunities throughout the year with their next one coming up on the 22nd of July.
Prof Francis Petersen, vertel ons verder van sy tydperk as rektor van die Universiteit van die Vrystaat
Prof Francis Petersen het as rektor van die Universiteit van die Vrystaat, die afgelope sewe jaar, die Universiteit gevestig as een wat sigbaar is en ʼn groot impak gemaak het op die gemeenskap hier
Van die leier van die DA, na die nuwe minister van Landbou. Dit is John Steenhuisen. En hoewel die aankondiging vir baie Suid-Afrikaners ʼn welkome verandering is, sê Steenhuisen daar lê baie werk voor en mense moet saam met die politici werk en die land help om in die regte rigting te beweeg veral ook in die landboubedryf
Die fees is ‘n viering van ons ryk kulturele erfenis en unieke karakter van ons streek. Om jou meer hieroor te vertel is Michael Garbett, feesdirekteur.
Ons luister nou na die tweede gedeelte van ons onderhoud met Steve Piper, hoof van ondergeskrewe tussengangverkope by Hollard Life
Soms brand ‘n mens om opknappings aan jou huis te laat doen, sonder om jou beursie leeg te skud. Maar voor jy inspring en alles self wil doen, is dit wys om aandag aan ‘n paar versekerings-kwessies te gee
Ons luister verder na die onderhoud met Elize Kruger, ‘n oud-Vrystater en bekende onafhanklike ekonoom wat pas as Ekonoom van die Jaar vir 2023 aangewys is in die Buro vir Marknavorsing en Unisa se kompetisie.
Steve Piper, hoof van ondergeskrewe tussengangverkope by Hollard Life sê jong mense in hulle 20’s se voorkeure en prioriteite het verander en het ‘n impak op hulle finansiële beplanning.
Statistieke Suid-Afrika (SSA) se eerste kwartaalikse syfer vir 2024 is pas bekend gemaak en skets nie ‘n wonderlike prentjie nie.
Daar word gesê dit verbeter jou fiksheid, verbrand kalorieë, kry mense weer aan die beweeg en bevorder jou sosiale vaardigheid. Die nuwe sportsoort, Pickle Ball, het vinnig vastapplek gekry en neem die land op horings. Die sportsoort mag dalk selfs in 2028 se Olimpiese Spele opgeneem word.
Prof Waldo Krugell, van die Skool vir ekonomie aan die Noordwes-Universiteit vertel vir die Sakeuur meer van die ekonomiese invloed van die aankondiging, en hoekom hy versigtig optimisties voel.
Die nuwe premier van die Vrystaat, Maqueen Letsoha-Mathae, is onlangs verkies. Die sakeuur het met haar gesels oor haar planne vir werkskepping en ekonomiese groei.
The Business Hour will wrap things up with Advocate Tertius Wessels from Strata-G Labour Solutions on why unaddressed sexual harassment allegations can cost you dearly as an employer.
The Business Hour will listen to Bertus van der Vyver, general manager of MTN SA of Residential and Postpaid. He spoke to OFM’s Robyn Schutte about the development of the Yellow Plan of MTN.
The Business Hour continues with Tuesdays discussion with Attila Kadikoy of Levantine & Co on when exactly should we anticipate interest rate cuts by the SARB which hinges on what the FED decides.
The Business Hour expands further on what Juanita Vorster meant by the Tcs and Cs of effective communication.
The Business Hour shifts our attention towards the pervasive nature of sexual harassment and why its important for business owners and heads of organisations take extra note of such allegations when they do pop up. We do so with Advocate Tetius Wessels, from Strata-G Labour Solutions referencing a recent CCMA case.
The Business Hour Looks at recent changes to the Free State Gambling and Liquor Act of 2010 with Thandi Ntuli, Acting Legal Manager at the Free State Gambling, Liquor and Tourism Authority. She spoke about the aims of the amendments and the overall reaction from the business community on it.
The Business Hour will wrap up with part 2 of our conversation with André van Pletzen from Ignite and Revive Kroonstad regarding planning for their festival aimed at increasing domestic tourism to the Free State town.
The Business Hour shifts our attention to mastering business productivity through better communication with independent business advisor, Juanita Vorster. Tone, Time, Context, and Clarity. Juanita Vorster, will explain these Tcs and Cs in a second part of this discussion centered on effective communication.
The Business Hour discusses the recovery of the US economy and its relevance to South Africa with Attila Kadikoy of Levantine & Co.
With the dust on BHP's failed attempt at acquiring Anglo-American still settling, focus remains squarely on copper which remains central to the world's transition to a greener economy. Anchor Capital, investment analyst, Seleho Tsatsi unpacks the varied challenges around the deal and tells the OFM Business Hour that there are likely other suitors that may step in where BHP failed.
On the OFM Business Hour, Johnny Davis from PH Attorneys gives us a 'how to guide on mergers and acquisitions in South Africa'. This is part 1.
Are you a CENTLEC prepaid electricity customer? It's time to ensure uninterrupted power supply with CENTLEC's Token Identifier Rollover initiative. OFM News journalist Casey-Lee Anthony spoke to CENTLEC’s Lele Mamatu to find out more.
Barriers to market access and a lack of financing remain issues that small businesses in the Free State continue to battle. However there are some glimmers of hope, telling us more is Dr Mbulelo Nokwequ, the head of the Free State Department of Economic, Small Business Development, Tourism and Environmental Affairs (DESTEA). He was at the SMME indaba which took place in Bloemfontein.
Bernadette Enever, gewese werknemer van Barloworld Equipment, se aansoek in die arbeidsappèlhof het die kwessie van dagga in die werkplek uitgelig. Sy is afgedank omdat sy positief vir dagga getoets is terwyl sy aan diens was. Die hof het verlede maand beslis Enever se afdanking was onbillik. Adv. Tertius Wessels, regsdirekteur by Strata-g Labor Solutions, het die wettigheid van die saak op die OFM Sakeuur bespreek.
Bernadette Enever, gewese werknemer van Barloworld Equipment, se aansoek in die arbeidsappèlhof het die kwessie van dagga in die werkplek uitgelig. Sy is afgedank omdat sy positief vir dagga getoets is terwyl sy aan diens was. Die hof het verlede maand beslis Enever se afdanking was onbillik. Adv. Tertius Wessels, regsdirekteur by Strata-g Labor Solutions, het die wettigheid van die saak op die OFM Sakeuur bespreek.
The chamber update features, attorney Nicholas van den Bergh, he is the newly elected chairman of the Potchefstroom Business Chamber, taking over the reigns from Juanita Smit (neé Greyling). Van den Bergh lauds Smits leadership and says he wants to build on the successes of the previous leadership.
We discuss political affiliations in the workplace, especially with elections on the horizon. What do employers need to know. Our expert on this topic is Adv Tertius Wessels, Legal Director at Strata-g Labour Solutions. Adv Wessels says the onus of maintaining political neutrality in the workplace sits with both employers and employees.
Bloemfontein realtor and chairperson of the Mult-Let Owners Association, Yolinde Loots, talks navigating the complexities of the student housing business as a small player in Bloemfontein, Free State.
For years the owners of student houses in Bloemfontein have battled to get their consent use applications approved by the Mangaung Metropolitan Municipality. In 2024, the nightmare for these smaller players in the bigger student housing ecosystem, continues. Bloemfontein realtor and chairperson of the Mult-Let Owners Association, Yolinde Loots, provides an overview of the state of student housing in Bloemfontein and its surrounds.
Standard Bank’s Brendan Jacobs has recently been appointed as the institution's Head, Agribusiness, Business and Commercial Banking South Africa. This is a role that promises to leverage his earlier experience as the Head of Client Coverage in the Free State and Northern Cape provinces in propelling the bank's agricultural sector to new heights. He sat down with the OFM Business Hour to discuss the development and get into the state of agribusiness banking in South Africa currently.
Are you looking to further your studies in 2024? Well at Eduvos you can still enrol, owing to their multiple intakes during the calendar year. Telling you more is Eduvos CEO, Siegie Brownlee.
Community Schemes are encouraged to ensure that they are registered with the Community Scheme Ombud Service as failure to do so will be in contravention of the law and may result in a fine or imprisonment. OFM Content Manager Elzette Boucher-Kruger speaks to Thembelihle Mbatha, the Acting Chief Ombud, to find out more.
One of the biggest hindrances to the growth of small and medium businesses in the North West province is the absence of a single vision, with all the stakeholders working in silos. The North West Chamber of Commerce and Industry (NWCOCI) has in a bid to counter this and get everyone on a single page, organised a small and medium business workshop on Wednesday afternoon, 24 April 2024 alongside the North-West University Business School in Potchefstroom. Telling us more is the CEO of the NWCOCI, André Coertzen.
Ons hoor gereeld hoe gewild sonplase is en hoe boere probeer om oplossings te kry vir die voortslepende energiekrisis in Suid-Afrika. Baie min word egter gesê oor die omgewingsmagtigingsproses wat verseker dat sonkragontwikkelings ooreenstem met ekologiese volhoubaarheid en bestaande regulering. Marélie Botha en Lisa de Lange, albei direkteure by Blue Crane Environmental, het die proses aan OFM Sakeuur verduidelik.
Ons hoor gereeld hoe gewild sonplase is en hoe boere probeer om oplossings te kry vir die voortslepende energiekrisis in Suid-Afrika. Baie min word egter gesê oor die omgewingsmagtigingsproses wat verseker dat sonkragontwikkelings ooreenstem met ekologiese volhoubaarheid en bestaande regulering. Marélie Botha en Lisa de Lange, albei direkteure by Blue Crane Environmental, het die proses aan OFM Sakeuur verduidelik.
South Africa's Department of Employment and Labour recently implemented revisions to the earnings threshold, a crucial determinant under the Basic Conditions of Employment Act (BCEA). This alteration signifies a shift for workers whose salaries surpass R21,200 per month in 2024, as they will forfeit certain automatic protections. Shedding light on this subject matter is Kenneth Lennox, he is a dispute resolution official and attorney at the Consolidated Employers Organisation (CEO).
According to the South African government’s official website, there are about 123 State Owned Enterprises in the country, operating at national, provincial and local levels. They are crucial to the development of South Africa, they play an instrumental role in ensuring success in a wide range of areas, and are responsible for an unimaginable number of dependants. But how are these SEOs being governed? OFM Content Manager, Elzette Boucher-Kruger, speaks to principal and vice-chancellor of the North-West University, Prof Bismark Tyobeka, who’s called for a meritocratic approach to the appointment of executives and board members in these institutions.
Herman du Randt, senior associate at PH Attorney’s dispute resolution division continues to shed light on the different contract types available for construction projects of varying sizes. This is part 2.
Construction contracts formalise a project and reduce room for uncertainty or misinterpretation of the intention by the client; therefore – get it clear, get it in writing. This is the advice from Herman du Randt, senior associate at PH Attorney’s dispute resolution division. Du Randt tells the OFM Business Hour that whilst clients may question the necessity or even the type of contract they may need for their construction project, having the right contract in place for your project, which may be as small as building a house, reduces room for confusion, uncertainty, and dispute
Rocking the Vaal, wat verlede naweek in Vanderbijlpark gehou is, het wêreldrekords verbeter en daarin geslaag om plaaslike gemeenskappe nader aan mekaar te bring. Jaco Verwey, president van die Goue Driehoek Kamer van Koophandel, sê aan Kayla Barker van OFM Sake Uur die organisering van so ’n groot geleentheid is uitdagend, maar hul span het dit met toewyding en geesdrif gedoen.
Lisette Ijssel de Schepper van die Buro vir Ekonomiese Navorsing aan die Universiteit Stellenbosch praat vanaand met ons in OFM Sakeuur.
Questions continue to mount over the breach at the Companies and Intellectual Property Commission (CIPC) with reports alleging hackers had access to the agency’s system since 2021. Weighing in on this and the recourse available to individuals and companies that have been compromised in the breach is Ridwaan Boda, the head of Technology, Media and Telecommunications Law at ENS Africa.
South Africa has decent regulatory frameworks in place that respond to cyber-attacks, however, there is a lack of enforcement making the country a soft target. Ridwaan Boda, the head of Technology, Media, and Telecommunications Law at ENS Africa tells the OFM Business Hour that the Protection of Personal Information Act (POPIA) and the Cybercrimes Act are measures meant to deal with hacks like the one at the Companies and Intellectual Property Commission (CIPC), however, there is a lack of training and awareness on the issue.
The deadline for submissions or public comments in to the Competition Commission of South Africa’s poultry market inquiry is on the horizon. Economist at the Commission, Kagiso Zwane, tells the OFM Business Hour that the deadline is 15 March 2024 at 4:00 pm. Members of the public – those in the sector and those who are not – can send their submissions to pmi@compcom.co.za
Die voortgesette breinkwyn van Suid-Afrika se rekenmeesters en ouditeure is ’n tweesnydende swaard. Leana van de Merwe, rekeningkundige en versekeringspesialis by Saipa, sê aan Kayla Barker dit is goed dat ons rekeningkundige professionaliteit hoog aangeslaan word. Die nadeel is die tempo waarteen Suid-Afrika die rekeningkundiges verloor.
The UFS Business School is celebrating 25 years of being worth more. OFM’s Content Manager, Elzette Boucher-Kruger, spoke to Professor Nicolene Barkhuizen to find out what it offers and if adults can still enrol for this year.
Die Potchefstroom Sakekamer het ’n nuwe direksie gekies nadat die voorsitter, Juanita Smit (neé Greyling), aangekondig het dat sy bedank. Smit, die kamer se eerste vrouevoorsitter, sê sy wil haar toespits op die uitbreiding van haar bemarkingsonderneming. Sy belowe sy sal steeds nou betrokke wees by die kamer, al is dit in ’n minder amptelike hoedanigheid.
Product recalls are a costly exercise, hence the significance of product liability and recall insurance. Molebatsi Langa, head of strategic retail accounts at Old Mutual Insure. unpacks product recall and liability insurance on the OFM Business Hour. This comes amid the recall and investigation by the National Consumer Commission (NCC) into five peanut butter brands in recent weeks for higher levels of aflatoxin.
Die voortgesette breinkwyn van Suid-Afrika se rekenmeesters en ouditeure is ’n tweesnydende swaard. Leana van de Merwe, rekeningkundige en versekeringspesialis by Saipa, sê aan Kayla Barker dit is goed dat ons rekeningkundige professionaliteit hoog aangeslaan word. Die nadeel is die tempo waarteen Suid-Afrika die rekeningkundiges verloor.
Kan jy jou huislening in vyf jaar afbetaal? Potchefstroom se Koffiewinkelprokureur, Francois Vorster, sê die eenvoudige antwoord is, ja. In OFM Sakeuur se segment vir persoonlike finansies verduidelik hy die verskillende opsies wat beskikbaar is vir huiseienaars.
Eskom in die Vrystaat beklemtoon Clarens se onlangse sukses om ’n sogenaamde slim dorp te word, was nie maklik nie en het samewerking en vasberadenheid vereis. Eugene Myburgh, Eskom se Kliënteverhoudingsbestuurder, het aan OFM Sakeuur gesê die reis tot hier was baie moeite, maar die inwoners het dit aangepak met inisiatiewe vir die installasie van slimmeters, laaistasies vir elektriese voertuie, asook die verspreiding van kragopwekkers.
The success of the Trevor Noah tourism campaign for South Africa serves as a reminder to understand your target market and ignore the noise when it comes to your marketing strategy. Bolawana Mags Shivanda, the founder and owner of Digital Shero, the digital marketing company that formed part of the campaign, tells the OFM Business Hour that as much as there was controversy around the ad and Noah's alleged paycheck, they as a collective knew their audience and this understanding led to the campaign's success. Shivanda hails from central South Africa originally and formed part of the bigger team behind the campaign.
Alan Mukoki, the Chief Executive Officer (CEO) of the South African Chamber of Commerce and Industry (SACCI) accuses government of only consulting big business regarding the National Minimum Wage (NMW) which will go up from R 25,42 to R 27,58 for each hour worked as of 1 March 2024. He says its small business that bears the burden of an increase to the rate.
Die minister van indiensneming en arbeid, Thulas Nxesi, het Saterdag aangekondig dat die minimum loon vanaf 1 Maart tot R 27,58 per uur sal beloop. President van Vrystaat Landbou, Francois Wilken, verduidelik wat die invloed daarop vir die landbousektor is. Hy gesels saam met OFM joernalis, Dane Beisheim.
The South African Council of Business Women (SACBW) is expanding to Central South Africa, adding Bloemfontein to its nationwide network. Risna Opperman, the newly appointed local business leader in the Free State, joined the OFM Business Hour to discuss the lack of networking opportunities for female entrepreneurs (fempreneurs), something that inspired her to join the SACBW.
Suid-Afrika se mark vir produkte om jou huis lekker te laat ruik bly groei soos blyk uit die sukses van Anke Products in Parys in die Vrystaat. Die onderneming het baie uitgebrei sedert sy ontstaan in 2017. Marcell Hattingh, een van die direkteure, het met OFM Sakeuur se Kayla Barker gepraat.
Finansiële en beleggingsontleder by Efficient Private Clients, Aubrey Larkins, vertel meer oor beleggingstrategieë wat bestuurde aandeleportefeuljebestuurders gebruik en weeg dit op teen die ESG-oorwegings wat bestuurde aandeleportefeuljebestuurders in ag neem.
No matter your matric results, Eduvos – voted South Africa’s best private higher education institution – has a place for you!. They understand that each student's journey is unique, and they are there to offer an array of qualifications tailored to your needs and aspirations. I spoke to Dr Riaan Steenberg, the Director of Operations of the NetEd Group, to find out more about Eduvos and the benefit of private institutions.
Wat is bestuurde aandeleportefeuljes en hoe vergelyk dit met ander beleggings soos indeksfondse en beursverhandelde fondse? Finansiële en beleggingsontleder by Efficient Private Clients, Aubrey Larkins, verduidelik wat dit is.
Soos algemeen verwag het die Reserwebank se monetêrebeleidskomitee die repokoers onveranderd op 8,25% gehou. Die MBK het wel gewaarsku teen die risiko vir hoër inflasie weens die swakker rand en die onrus in die Rooisee wat handel wêreldwyd negatief raak.
Om dit te verstaan het OFM Sakeuur vir prof. Waldo Krugell van die Noordwes-Universiteit gevra om dit te verduidelik.
The Northern Cape Chamber of Commerce and Industry (NOCCI) is amongst the key stakeholders attending the Sol Plaatje Local Municipality's water workshop this week. This comes as Kimberley battles water interruptions which have negatively impacted local business. NOCCI CEO Sharon Steyn, tells the OFM Business Hour more.
John Dludlu the CEO of the Small Business Institute (SBI) shares how you can join the think tank/chamber of chambers. He tells the OFM Business Hour how they support small business in the country through red tape, loadshedding, the slow growth economy and municipal dysfunction. This is part 1
Argentine President, Javier Milei’s address on capitalism as a driver for economic growth and poverty eradication for countries such as his, is one of the notable addresses from this year’s World Economic Forum (WEF) in Davos, Switzerland. Dr Anja Smith, a development economist affiliated with the Stellenbosch University and DNA Economics, was giving an overview of the WEF on the OFM Business Hour.
Suid-Afrika se rooivleisbedryf – van die boere tot die slagpale en organisatoriese liggame – is gereed om na Saoedi-Arabië uit te voer. Dewald Olivier, uitvoerende hoof van die Rooivleisbedryfsdienste, het op die OFM Sakeuur beklemtoon hoe belangrik die ooreenkoms tussen die twee lande is. Saoedi-Arabië beplan om in Augustus rooivleis vanaf Suid-Afrika te begin invoer.
Employees are an organisation’s biggest ambassadors, online and offline. Miliswa Sitshwele, head of social media at Flow Communications joins the OFM Business Hour to discuss the pros and cons of an online employee ambassador programme. This is part 1
Ekonome voorspel 2024 gaan ’n besonder uitdagende jaar vir Suid-Afrika wees. Dit is weens die onstabiliteit wat veroorsaak word deur beurtkrag, wanfunksionele hawens, asook die swak paaie en infrastruktuur, sê prof. Johan Fourie, ekonomie-historikus en die skrywer van Our Long Walk to Economic Freedom en in Afrikaans Skatryk.
The nature of multi-level marketing structures is that the higher up you are in the pyramid like structure, the more profitable the system is for you. However representatives that are much lower in the chain have historically had a 95% failure rate. This is according to Gareth Collier, Director and Financial Planner at Crue Invest. He says the reps on the ground of MLMs work hard, but that income is channeled up the pyramid.
It’s the start of 2024 and many South Africans are looking into developing multiple streams of income to survive financially as the cost-of-living soars. Multi-level marketing structures continue to garner a lot of attention in terms of side hustles, but what are they really? To answer this question and more is Gareth Collier, Director and Financial Planner at Crue Invest.
Francois Vorster, die Koffiewinkelprokureur van Potchefstroom, sê inhoudskeppers moet onthou dit neem tyd om volgelinge op te bou. Hy sê die sleutel tot sukses is konsekwentheid, plasing van gehalte-inhoud en bewusmaking. Hy het 51 000 TikTok-volgelinge, asook die Francois Vorster Show, 'n visuele potgooi op YouTube.
Olebogeng Motse spoke with Kenny Dichabe, CEO for Free State Gambling, Liquor and Tourism Authority, about exciting events taking place in the province over the summer holiday.
Olebogeng Motse spoke with Kgotso Tau, Communications Head at DETEA, about what the Free State province has to offer in terms of tourism.
The CEO of the Energy Council of South Africa, James Mackay, joins the OFM Business Hour to discuss some of the concerns and issues raised during public hearings for the Electricity Regulation Amendment Bill. He also gets into the significance of unbundling Eskom and setting up an independent transmission company as outlined in the bill.
The ongoing legal tussle between Tongaat Hulett’s business rescue practitioners and sugar milling industry bodies remains an enormous distraction for growers. Andrew Russell, Chairman of SA Canegrowers tells the OFM Business Hour there is a great deal of uncertainty for the sugarcane growers that deal directly with the mills that are under business rescue.
Dinsdae fokus ons op Sentraal-Suid-Afrika se entrepreneurs of ons praat met skrywers oor hul pad na sukses. Vanaand praat ons met Francois Vorster, ook bekend as die koffiewinkelprokureur op TikTok. Hy gaan ons meer vertel oor sy koffiewinkel, sy werk as prokureur, notaris en aktebesorger. Vorster deel ook die voordele van TikTok vir ondernemings.
Livestock and dairy farmers in developing nations need to keep a close eye on ambitious methane reduction targets and agreements reached at the 28th edition of the Conference of Parties (COP28). Researcher and Stellenbosch University PHD candidate, Monique Bennett, tells the OFM Business Hour that methane gas reduction was a big talking point at the COP28 held in Dubai from 30 November until 12 December 2023 in the United Arab Emirates (UAE).
Die president van die Goue Driehoek Sakekamer (GTCOC), Jaco Verwey, beklemtoon dat hoewel alle oë op ArcelorMittal SA se herstrukturering en afleggings gerig is – ’n proses wat hy beklemtoon in hierdie stadium onvermydelik is, is daar ander noemenswaardige ondernemings wat moes sluit ween die ekonomiese toestande.
Die uitvoerende hoof van Vaal Business Cooperation, Klippies Kritzinger, het aan OFM Sakeuur gesê dat sakeleiers insae wil hê in die herstruktureringsproses en om die implikasies daarvan te bespreek. Die staalprodusent het aangekondig dat die bedrywighede by die Newcastle- en Vereeniging-aanleg van Januarie gestaak word. Minstens 3 500 poste word geraak. Amsa blameer die besluit op Transnet se ondoeltreffendheid.
Michael Landsman, direkteur en stigter van Lesawell, het aan OFM Sakeuur gesê die Winburg-gemeenskap het ná weke van wateronderbrekings ’n petisie onderteken. Dit sal aan verskeie staatsdepartemente oorhandig word.
Wysigings gaan gemaak word aan ’n afdeling van die Egskeidingswet in Suid-Afrika nadat die konstitusionele hof dit ongeldig en strydig met die Grondwet verklaar het. Hoe raak dit jou as ’n kleinsake-eienaar of alleeneienaar as jy van jou gade skei? Die prokureur Ilze Strydom van PH Prokureurs en Kayla Barker bespreek die besonderhede daarvan.
A lot of small businesses in South Africa went through a rough time this year. Factors such as load-shedding, the high prices of fuel, inflation and interest rates – to name but a few, contributed to this. Prof Waldo Kruggel, who represents the NWU Business School, shares a few tips and valuable information on how owners of small businesses can overcome the current challenges that often hinder growth.
Die Reserwebank se monetêrebeleidskomitee het besluit om die repokoers onveranderd te hou op 8,25%. Aubrey Larkins, 'n ontleder van Efficient Private Clients, sê aan OFM Sakeuur dat Lesetja Kganyago, president van die Reserwebank, die besluit geneem het ondanks die hoër inflasie. Dit het in Oktober tot 5,9% gestyg teenoor 5,4% in September.
Beslis, sê prof. Marco le Roux, direkteur van die Sentrum vir Ingenieursonderwys aan die Noordwes-Universiteit. Hy was op OFM Sakeuur om steenkoolnavorsing te bespreek. Reuters het onlangs eksklusief berig dat Suid-Afrika sy bindende doelwitte vir die 2030-koolstofvrystellings ingevolge die Parys-klimaatooreenkoms gaan misloop. Le Roux sê volgens voorspellings sal Suid-Afrika ná 2050 steeds van steenkool afhanklik wees vir elektrisiteit.
Ouers sal self moet besluit hoe hulle die ouerskapverlof van vier maande gaan verdeel. Dit het onlangs in die hooggeregshof in Johannesburg die groenlig gekry. Ilze Strydom, direkteur van familiereg by PH-prokureurs, het dit breedvoerig bespreek met Kayla Barker op die OFM Sakeuur.
Got some major cash to splurge on a music catalogue? Well, if you have the luxury of being in this position, you might want to hold your horses so to speak. Professor Waldo Krugell from the North-West University (NWU) Business School tells the OFM Business Hour that whilst investors splurged on rights to old songs back in 2021, they are likely to take extra caution in future after some headlining grabbing music catalogue deals proved to not be as lucrative an investment as the buyers initially thought they would be.
A recent Gauteng High Court ruling has set in motion big changes for parental leave in South Africa as sections of the Basic Conditions of Employment Act (BCEA) have been ruled unconstitutional. To tell us more we're joined by Anli Bezuidenhout, Director of Employment Law at Cliffe Dekker Hofmeyr.
The Free State Provincial Government is determined to play a role in South Africa’s energy crisis by becoming the country’s central energy security hub. At least 500 delegates gathered under one roof at the Performing Arts Centre of the Free State (PACOFS) in Bloemfontein for the province’s Energy Security Indaba a success. Provincial Premier Mxolisi Dukwana addressing those who were in attendance vowed to ensure the province plays a vital role in contributing to the country’s energy initiatives. “We are determined to position the Free State as the country’s central energy security hub.”
As many businesses still feel the brunt of Covid-19 and load-shedding, Mags Shivanda, CEO at Digital Shero Media Group said online presence is essential for a business to grow.
The North West University Business School is currently accepting registrations for 2024's wide range of short courses for executives. I spoke to Dr. Joseph Sekhampu, the director of the NWU Business School about “the roles of education for executives in our unique economy.
The Parliamentary Portfolio Committee on Health is set to hear opinions on the Tobacco Products and Electronic Delivery Systems Control Bill in Free State from Saturday (28/10) to Sunday (29/10). Dr Sharon Nyatsanza, Deputy Director of the National Council Against Smoking (NCAS) said the bill mandates a complete prohibition of smoking in all indoor public spaces and specific outdoor areas as determined by the minister. It also outlaws the sale of cigarettes via vending machines, enforces plain packaging featuring graphic health warnings or pictorial representations, and prohibits the display of tobacco products at the point of sale.
With the South African economy facing numerous challenges, the role of SARS in tax collection is crucial. Walter Blake, MAZARS’ Regional Leader for the Central Region tells us more about SARS’ tax assessments and tax recovery…
ENS' Claire Nolan and Amy Pawson advise business owners and institutional heads on how to approach regulating romantic relationships in the workplace. Claire and Amy who are at associate and candidate practitioner level respectively, tell the OFM Business Hour they are increasingly observing a rise in workplace conflict or complications emanating from romantic relationships at work.
Die Namakwalandse Kamer van Koophandel in vennootskap met die Nama-Khoi Plaaslike Munisipaliteit in die Noord-Kaap doen 'n beroep op die Suid-Afrikaanse Inkomstediens (SAID) om 'n satellietkantoor in Springbok teen middel 2024 te bou. Franklin Meyer, uitvoerende lid van die Namakwalandse Sakekamer, sê aan OFM Sakeuur dat sake-eienaars en inwoners minstens 350 km moet reis om toegang tot die naaste SAID-takke te verkry. Hoewel meeste sake aanlyn gedoen kan word is dit soms nodig om ’n tak te besoek.
The South African government has heard businesses' complaints regarding work visa backlogs and has now invited organisations in the country to submit expressions of interest in the pilot of the Trusted Employer Scheme. Marisa Jacobs, the Managing Director of Xpatweb tells us more about the scheme and the requirements for participation.
Standard Bank has been announced as the sponsor for the upcoming 'Best of Bloemfontein Reader's Choice Awards' ceremony. Brendan Jacobs, the Head of Client Coverage Business Clients at Standard Bank joined the OFM Business Hour to share why they decided to get on board.
X - formerly Twitter - recently announced its plan to shut down its ‘Circles’ feature as of October 31st, 2023. This offering was intended to let users restrict the visibility of tweets so they could be seen only by explicitly selected accounts. Sophos cybersecurity expert, Christopher Budd got into the implications thereof on the OFM Business Hour.
The Chief Executive Officer (CEO) of African Media Entertainment (AME), Dave Tiltmann, joins the OFM Business Hour to discuss LiSTN, an exciting new app that has just launched. The audio player promises audiences will find exactly what they want and need while offering advertisers new opportunities to reach them.
Labour law attorney and accredited mediator, Helena Strijdom, joins us on the OFM Business Hour to discuss the enforceability of restraint of trade agreements.
Agri SA se uittredende uitvoerende hoof, Christo van der Rheede, sluit aan by die OFM Sakeuur en praat oor sy werksaamhede by die organisasie en sy toekomsplanne in die sektor ná sy aftrede. Hy met met OFM se nuusredakteur, Morné van Rooyen, gepraat.
The North-West University (NWU) Business School will soon host their annual open day, and you’re invited! To share a bit more about this event is Simoné van Tonder, a marketing representative of the NWU Business School.
The looming lay-offs at Sibanye Stillwater's Kloof 4 shaft in Carletonville are due to a series of operational issues. Sibanye Stillwater's head of investor relations and corporate affairs James Wellstead tells the OFM Business Hour they are still engaging with labour unions on a way forward. In the balance is nearly 3000 jobs.
Nashua het 'n wye reeks produkaanbiedinge wat kan help om jou plaas veiliger te maak. Yolanda Martens van Mid-Morning Magic praat met Rikus Kruger Nashua se aandeelhouer in die Vrystaat, die Noord-Kaap en Lesotho oor hierdie aanbiedinge.
Die TLU SA se 2023-kongres se fokus was om oplossings vir die landbousektor se huidige uitdagings te kry. Die hoofbestuurder Bennie van Zyl deel met OFM Sakeuur die hoogtepunte van verlede week se kongres. Die tema was Vier Seisoene van Landbou.
The Northern Cape Chamber of Commerce and Industry (NOCCI) urges local business to not work in isolation to fight soaring electricity prices and service delivery challenges. NOCCI CEO, Sharon Steyn, tells the OFM Business Hour that it is better to work in tandem with local chambers when tackling issues of the above nature, as this yields greater results.
The Chief Executive Officer (CEO) of the South African Chamber of Commerce and Industry (SACCI), Alan Mukoki was on the OFM Business Hour to celebrate the legacy and entrepreneurial contributions of Raymoond Ackerman whose passing at the age of 92 was announced by Pick n Pay on Thursday, 7 September 2023.
South Africa’s performing artists are continuing to rally behind the Copyright Amendment Bill and Performers Protection Amendment Bill condemning backlash directed at the bills. Jack Devnarain, the Chairman of the South African Guild of Actors (SAGA) was on the OFM Business Hour to discuss the bills themselves and to unpack the significance of the legislation in protecting artists from further exploitation.
Henk Weideman, een van die wenners van die FNB-kompetisie waar tien omskakelaars op die spel was, verduidelik wat die prys vir sy besigheid beteken.
At the beginning of the month Richard Finn Gregory and Elle Oosthuizen, the producers of Steinheist on Showmax, were announced as the winners of the Sanlam Group Financial Journalist of the Year for 2022, becoming the first TV journalists to win the esteemed prize in nearly a decade. Richard shares his reaction to the win with the OFM Business Hour. Steinheist was a watch/read of the week on the show.
The Free State Legislature has kicked off their Public Hearing phase on two bills they are set to amend. Tonight we will be hearing from the chairperson of the portfolio committee on Economic development, Thembeni Nxangisa. The two bills are National Veld, and Forest Fire Amendment Bill and Free State Gambling, Liquor and Tourism Amendment Bill. Remember, these bills are incomplete without your voice as a citizen.
South Africa’s beer industry continues to be vibrant, despite rolling blackouts and soaring input costs. The Chief Executive Officer (CEO) of the Beer Association of South Africa, Patricia Pillay, was on the OFM Business Hour to provide insight into the state of beer brewing in the country at the moment. She also shared her expectations for the upcoming Intervarsity Brew.
OFM News conducts an interview with the Free State Legislature Chairperson of the Housing Committee, Sarah Malitaba Moleki.
Louise Roux, Product Head Transact Pillar at FNB Commercial returns to the OFM Business Hour to explore the lending/financing solutions they offer to SMEs in South Africa. Roux says FNB aims to support businesses at varied stages.
South Africa's business schools have great potential and can compete globally in terms of offerings in executive education. Prof Nicolene Barkhuizen, the newly appointed Director of the University of the Free State's (UFS') Business School tells the OFM Business Hour that SA's business schools need to be agile, adapt to the latest workplace trends as well as ensure their offerings are competitive and of quality.
The upcoming auction of 26 Bloemfontein commercial, industrial and hospitality properties belonging to the well-known Georgiou family is not a complete disinvestment from the ‘City of Roses’ by the family. John Jack, the CEO of Galetti Corporate Real Estate, tells the OFM Business Hour that the Georgiou family still owns substantive properties in Bloemfontein despite the decision to restructure their property portfolio which notably doesn’t sit only in the Free State capital.
The onus is now on opposition parties in South Africa to put forward a compelling alternative to the ANC. DA Leader, John Steenhuisen, tells the OFM Business Hour that it's no longer enough to find fault in what the ruling party does, being solution driven is the only thing that will draw voters, he says. Steenhuisen was in the Free State recently.
Having a good relationship with your bank is crucial to a business’ success. This is evidenced in the growth trajectory of the popular Manaka Coffee brand. Manaka co-founder Neo Moleko joined us on the OFM Business Hour to discuss the expansion of the company’s offerings to beyond coffee and of course get into how having a relationship with your bank can aid your business’ growth trajectory. Manaka banks with FNB.
The Free State is a province full of hope, despite numerous service delivery challenges and local governance failures. John Steenhuisen the leader of the Democratic Alliance (DA) told the OFM Business Hour this during his recent visit to the Free State.
It's Women's Day and Louise Roux, Product Head, Transact Pillar at FNB Commercial is back on The Business Hour to talk about SMEs, funding options and tailor-made solutions from FNB.
Janse Rabie, legal and policy executive at Agri SA discusses objections to racialised water use license regulations that they say could bring commercial farming in SA to its needs on the OFM Business Hour. At this stage over 12 000 public comments have been received on the matter.
Jeremy Doveton-Helps, the Brand Engineer & Events Director for the popular Kamers/Makers outlines the history of the travelling artisan market and gets into how instrumental FNB is to the team’s ongoing strategy. FNB understands the unique challenges faced within import and export businesses, therefor their Trade Finance offers are structured to ensure unique transactions for both importing or exporting and they create tailor-made solutions to suit your business needs.
Jashwin Baijoo, Head of Strategic Engagement & Compliance at Tax Consulting SA joins us on the OFM Business Hour to discuss how the South African Revenue Service (Sars) is ensuring compliance alongside the Companies and Intellectual Property Commission (CIPC) with respect to beneficial ownership in businesses.
Applications for the MBA programme at North-West University's Business School are currently open. Interested candidates can visit the website for more information on the application process, programme structure, and eligibility criteria. Here is Leenta Grobler, MBA program manager at the institution explaining more.
What are the key questions a lender will ask an SME/Business that is applying for credit? Louise Roux, Product Head, Transact Pillar at FNB Commercial, answers this question and more on the OFM Business Hour.
Streng monetêre beleid en stygende rentekoerse is die minste van twee euwels wanneer inflasie hoog is. Dit is die mening van Aubrey Larkins van Efficient Private Clients nadat die Reserwebank se monetêrebeleidskomitee besluit het om die repokoers onveranderd op 8,25% en die prima koers op 11,75% te laat.
E-book piracy is so pervasive in South Africa that the industry is witnessing year-on-year declines in profits for an array of book categories including popular non-fiction releases and textbooks. Melvin Kaabwe, an executive at the Van Schaik Bookstore group was on the OFM Business Hour to discuss the profitability of the book publishing business in South Africa at the moment. This is part 1 of this interview.
FNB Commercial Property Finance helps clients acquire office, industrial or retail property, and explore income-generating property investment opportunities, both locally or beyond our borders. Olebogeng Motse speaks to Willem Reynders, the founder of FitFoodz, who shares his success story with us tonight…
Eienaars van leeus in gevangeskap word aangemoedig om hul belangstelling in ‘n vrywillige uitgang opsie sonder verpligting voor 21 Julie 2023 te registreer. OFM Inhoudsbestuurder, Elzette Boucher-Kruger, gesels met Dr Kelly Marnewick van die Ministeriële taakspan om meer uit te vind.
Dr Larisse Prinsen, a senior lecturer in public law at the University of the Free State (UFS) discusses which existing pieces of legislation need to be amended to make way for the National Health Insurance (NHI) Bill. She also discusses the pros and cons of the NHI.
The Department of Economic, Small Business Development, Tourism and Environmental Affairs (Destea) invites Free State entrepreneurs to take part in the Youth Business Pitching Competition. Prospective entrants have until 18 July 2023 to pitch their innovative business ideas to potential investors and funders. The departmental spokesperson, Mojalefa Mphaphang details more about the competition.
We’re joined by Justin Harrison, entrepreneur, investor, author of 7 ebooks and host of 2 business podcasts across mainstream platforms on how a lack of financial management skills and lack of knowledge regarding the financial sector as a whole continues to fail startups. The Hustle with Justin Harrison is our read/listen of the week.
Om in 2022 as Kwêla se ‘Dorp van die Jaar’ aangewys te word het belangstelling, beleggings en geleenthede vir Kroonstad in die Vrystaat meegebring. André van Pletzen, die stigter van Ignite and Revive Kroonstad – die beweging wat verandering in die dorp teweeggebring het – sluit by die OFM Sakeuur aan.
South Africa’s mental health crisis is costing the economy R 161 billion per year. Psychiatrist and Head of Healthcare Leadership at Stellenbosch Business School, Prof Renata Schoeman, shares the driving factors of employees’ mental health issues and advises organisations on how to safeguard the mental and emotional wellbeing of the workforce.
South Africa’s largest privately owned retail team is getting ready to offer Kathu and surrounding areas the best store in the community when it opens a world-class Food Lover’s Market store at the Kathu Village Mall on Thursday, 06 July 2023. Travis Coppin, CEO of Food Lover’s Market’s joins the OFM Business Hour to discuss the expansion further.
The North-West University Business School grows individuals to become leaders, with real-world skills and executive thinking. Olebogeng Motse spoke to Oarabile Manyaapelo, director of the Small Business Advisory Bureau at the NWU Business School, about how the bureau can advance your career.
Are retrenchments looming in your business? If your answer is yes, make sure that you exercise caution, care and compassion in this regard. Change Initiative Founder and Managing Director, Madge Gibson joins the OFM Business Hour to discuss how organisations in the country should approach looming retrenchments, owing to financial constraints.
The Free State Department of Social Development is empowering the youth in the province to be self-reliant. The MEC for Social Development, Tshidi Koloi joins the OFM Business Hour this Youth Month to discuss the work they're doing with young people under the banner “accelerating youth economic emancipation for a sustainable future”. Here is part 2.
The Free State Department of Social Development is empowering the youth in the province to be self-reliant. The MEC for Social Development, Tshidi Koloi joins the OFM Business Hour this Youth Month to discuss the work they're doing with young people under the banner “accelerating youth economic emancipation for a sustainable future”.
Orania se klein en hegte bevolking is 'n tweesnydende swaard vanuit 'n ekonomiese perspektief. Die voorsitter van die Orania Kamer van Koophandel en Nywerheid, Tony Correira, sê aan OFM Sakeuur dat hoewel die gemeenskap in staat is om onafhanklik baie ekonomies te bereik, hul klein bevolking dit moeilik maak om ander sakegeleenthede te benut.
Proudly South African has launched a campaign to raise awareness of the importance of buying locally produced items and using local services, focusing on the potential of the country’s children. Chief marketing officer, Happy MaKhumalo Ngidi, said this new campaign, titled Second Half, was created to remind South Africans of the importance of buying and supporting local products and services because it helps to create jobs. The campaign ad features children imagining their future dreams and plans.
The deadline for the submission of annual reports by private bodies on access to information requests and received as per the Promotion of Access to Information (PAIA) is on the horizon. Ridwaan Boda, the Head of Technology, Media and Telecommunications Law at ENS Africa us more.
The Chairperson of the Portfolio Committee on Economic Development in the Free State Legislature, Thembeni Nxangisa, says private/public collaboration is crucial to the success of Special Economic Zones (SEZ) in the province such as the one in the Maluti-A-Phofung area. This follows the committee's oversight visit to the MAP SEZ this week.
The South African established aesthetic brand Galxboy, which has been in demand by Bloemfontein young adults on social media, has responded. The brand is set to open its third store in the country at Mimosa Mall in the City of Roses on Thursday 15 June 2023. Founder and Creative director, Thatiso Dube, said that most of their purchases made online are delivered to Bloemfontein. Dube also revealed that according to their social media statistics most users who tag the brand are based in Bloemfontein.
Are you looking at getting into agritourism? Well start with what you have on your farm currently. This is the advice from Peter Pentz, Communications Manager at Groote Post Vineyards who gave an overview of the wine industry in the country on the OFM Business Hour.
Gert Klopper, the Executive Director of Masivane and a seasoned Communications professional details the significance of stakeholder engagement/management expertise for mid-market businesses in an ever evolving economic landscape.
The Chief Executive Officer (CEO) of African Media Entertainment (AME) Dave Tiltmann, chats to the OFM Business Hour about the media group’s 7% growth in revenue over the 2022/23 financial year to over R 268 million.
OFM verkoops- en bemarkingsbestuurder, Anchen Lintvelt gesels oor die OFM handelsmerk en hoe dit oor die jare gegroei en uitgebrei het. 'n Voorbeeld is die nuutgestigde OFM CLOSET, die stasie se aanlyn beperkte uitgawe klere- en bykomstigheidwinkel.
Jeani Meyer, the Executive Director of OFS Smart Repair and the Founder of the I Love Bloem apparel wear continues to educate us on the power of brand. In part 2 she gets into the varying facets of brand management and explains how it can impact the bottom line of a business.
We're profiling the OFS Smart Repair and I Love Bloem brands with Jeani Meyer. She is the Executive Director at OFS and the Founder of the latter apparel wear brand. How do the brands co-exist? Jeani lets us in on their specific recipe to brand success in part 1 of this interview.
The project, Kimberley 4 Kimberley is the current hope for some of the residents in the city of diamonds, while some are a bit skeptical. The Northern Cape Chamber of Commerce and Industry (NOCCI) is supporting the collaboration effort to transform city roads. NOCCI’s Sharon Steyn says they are in full support of this initiative, although they have noticed that some of the people in the area have received the collaboration with negativity. “Personally, I believe there will always be negative people towards any initiative,” adds Steyn. Residents and businesses have been asked if they can contribute to making the project a success.
The North-West University Business School grows individuals to become leaders, with real-world skills and executive thinking. Morne van den Bergh, manager of Executive Education at the NWU Business School expands on the importance of executive thinking in growing the country's economy.
’n Finansiële en beleggingspesialis by Efficient Private Clients, Aubrey Larkins, verduidelik hoe die die internasionale aandelemark werk. Larkins praat ook oor die rand en verduidelik hoekom dié geldeenheid die afgelope ruk so verswak teenoor die dollar. Sy gaan ook praat oor bekommernisse oor ’n moontlike resessie. Die Reserwebank se monetêrebeleidskomitee maak Donderdag 25 Mei 2023 sy rentekoersbesluit bekend.
Die Kimberley 4 Kimberley-inisiatief beplan om dié stad tot sy eertydse glorie te herstel. Die kontrakteur en sakeman, DF Marais, het die OFM-ateljees besoek om die motivering van die inisiatief te bespreek. Die Sol Plaatje Plaaslike Munisipaliteit en die Noord-Kaapse Kamer van Koophandel is ook aan boord.
Gert Duvenhage, van LHP Good News Club, praat oor die rol wat burgerlike groepe speel om die land te red van ’n algehele instorting wat dienslewering betref - een gemeenskap op 'n slag. Hy deel ook die belangrikheid daarvan dat plaaslike ondernemings dié groepe ondersteun. Luister hieronder meer oor sy gesprek op die OFM Sakeuur saam met Kayla Barker.
Bloem Show 2023 saw an increase of 14.6% in attendance for their celebration of 140 years’ of existence. Chief Executive Officer, Elmarie Prinsloo, told the OFM Business Hour they had aimed for at least 100 000 people to attend this year’s Bloem Show, however, they ended up seeing more than that in the 10 days of the event. “We had 10 glorious days of hosting the 140 years Bloem Show, it was well attended, we had a 14.6% increase in attendance. We had anticipated that if we could get 100 000 people over the 10 days it would be amazing, and we ended up with 107 500 people.”
OVK National Marketing and Communications Manager, Christel Basson, weighs in on the increasingly important role technology plays in maintaining efficient farming operations. This as OVK releases an application that is aimed at precisely doing that.
Potchefstroom bied baie sakegeleenthede te midde van die uitdagings wat die land ervaar. Die voorsitter van die Potchefstroom Sakekamer, Juanita Greyling, het aan OFM Sake-uur gesê dat Potchefstromers optimisties is oor die toekoms en dat nuwe ondernemings soos paddastoele verrys.
Die gemeenskap van Welkom en omliggende gebiede behoort ingesluit te word by planne om die Phakisa-renbaan en lughawe te laat herleef. Die president van die Vrystaatse Goudveldsakekamer, Lisette du Plessis, sê aan die OFM Business Hour, dat hulle met betrekking tot die lughaweprojek lugvaartkundiges in die gebied het, soos Brian Emmenis, wat kan help om te verseker dat die Welkom-lughawe tot sy volle glorie herstel word.
Dis stroopseisoen en produsente is hard aan die werk om die vrug van hul arbeid te pluk. OFM Inhoudsbestuurder gesels met Jaco du Randt, senior bestuurder van Graan by NWK om meer uit te vind.
Suid-Afrika se oudste landboumaatskappy NWK se Meganisasie-afdeling is ʼn inspirerende suksesverhaal. In slegs vier jaar het dit uit die stof herrys deurdat dit van ʼn verliesmakende bedryf omgedraai het na ʼn volhoubare en winsgewende handelsegment binne NWK. OFM Inhoudsbestuurder, Elzette Boucher-Kruger, gesels met Johan Jansen van Rensburg, operasionele bestuurder van NWK Meganisasie, om meer uit te vind.
Prof Leenta Grobler of the North-West University (NWU) Business School, talks about innovateHER, a youth innovation program that's transforming the lives of young women across Africa.
Eduvos has partnered with EON technology which will introduce experiential and virtual learning at the institution from October 2023. Eduvos CEO, Siegie Brownlee tells the OFM Business Hour more about the private higher education institution which has 12 campuses spread across the country.
Of jy 'n besigheidseienaar, 'n boer, of ‘n huiseienaar is, Nashua Vrystaat, Noord-Kaap en Lesotho het 'n energie-oplossing vir jou! OFM Inhoudsbestuurder, Elzette Boucher-Kruger, gesels met Rikus Kruger om uit te vind watter opsies beskikbaar is veral as dit kom by sonkrag.
Korporatiewe Maatskaplike Verantwoordelikheid is iets wat NWK na aan die hart lê, veral wanneer dit kom by die opheffing van die jeug. OFM Inhoudsbestuurder, Elzette Boucher-Kruger, gesels nou met Johan Bezuidenhout, groepbestuurder van Korporatiewe Bemarking en Kommunikasie by NWK, om meer uit te vind.
Sharon Knowles, the CEO of Da Vinci Forensics and Cybersecurity, weighs in on the TikTok bans you’ve been hearing about in the media space of late on the OFM Business Hour.
A Special Economic Zone (SEZ), cargo airport and the revitalisation of the Phakisa Raceway are all on the cards for the Matjhabeng Local Municipality under which Welkom, Odendaalsrus and Virginina fall. This is according to the Free State Department of Economic, Small Business Development, Tourism and Environmental Affairs (Destea) led by MEC, Thabo Meeko.
In the age of hybrid working, it’s never been more important to revisit your business' internal controls. So how often are you, as a business leader doing this? Partner at Mazars South Africa, Marc Edelberg, tells the OFM Business Hour, that the heads of organisations need to conduct regular check-ups of a business, in the same way that one goes for regular health checks with their physician.
The Social Employment Fund is creating opportunities and enriching lives in the performing and creative arts movements. They are doing this work via varied organisations and entities like ASSITEJ SA (the national centre of the International Association of Theatre for Children and Young People). The OFM Business Hour sat down with Yvette Hardie, theatre producer, director, educator, writer and the national director of ASSITEJ SA to find out more about their work in the Northern Cape specifically.
Corne Kleynhans from Agri Farmacy SA tells the OFM Business Hour about the history of the three-tiered family business which is aimed at safeguarding animal health in central South Africa.
Dr Joseph Sekhampu, the incumbent Chief Director of the North-West University Business School, delves into the importance of Executive Education in closing the skills gap in SA's unique economy. Sekhampu tells the OFM Business Hour Executive Education plays a critical role in the development of the country.
Suid-Afrika het dalk laat by die vraghouer-huispartytjie aangesluit, maar die mark beleef nou 'n oplewing. Dit word bewys in die groei van Container Home SA wat deur die Kaapstadse inwoner, Deon van Deventer, besit word. Van Deventer vertel aan die OFM Business Hour dat hy en sy span daagliks met tussen 5 en 10 kliënte in gesprek tree, hetsy vir 'n navraag om te bou, 'n versoek vir 'n kwotasieversoek of 'n konsultasie oor 'n huidige projek.
Are you thinking of joining the world of podcasting? If you are, let the OFM School of Podcasting help bring your audio content ideas to fruition. Nick Efstathiou, the Chief Executive Officer of the Central Media Group (CMG) under which OFM falls says “it seems the belief is that experts, celebrities and influencers are the only people who can have podcasts. I don’t agree with that, anyone who wants to be heard should be given the opportunity to publish and OFM is going to open those doors" he says.
The founder of Jazz on the Lawn in Bloemfontein, Free State, Lesley Jennings, says she had a great and smooth run during her days planning and producing the outdoor event.
Jazz on the Lawn, which came to an end in 2021 due to the impact of the Covid-19 pandemic. According to Jennings, the return of the outdoor event after hard lockdown was not met with the same enthusiasm as before, as at the time some people still feared the virus, while others had really been hurt financially by the pandemic, so attending events was the last thing on their minds.
Did you know that the largest, single-source supplier of auto-electrical, heavy-duty components, collision avoidance systems and associated technical services in Southern Africa is right here in our own backyard in Central South Africa?
I’m speaking about Trysome Auto Electrical Engineering in Kathu of course. Eddie Smith, CEO, Trysome Auto Electrical Engineering and Edward Kawamba, Global Head of HALO Marketing and Brand Management told the OFM Business Hour more about this amazing business and shared some of their latest offerings.
The termination of contracts can often times be made out of haste, leaving disgruntled parties vulnerable to the fine print. “Honour contracts to the very end” warns Millisanté de Wee, an Associate in the Commercial department at PH Attorneys formerly known as Phatshoane Henney Attorneys. She tells the OFM Business Hour that when parties terminate a contract, they don’t take the same caution and exercise the same diligence that they did when they were entering the agreement and negotiating the terms thereof.
As families plan their vacations for the Easter weekend, the South African National Blood Service (SANBS) is bracing itself to deal with low blood collections at this busy time of the year. Shivanie Lutchman, Donor relations Practitioner at the South African National Blood Service (SANBS) provides an update on the blood bank's current stock levels in her sit-down with the OFM Business Hour and gets into the importance of donating blood.
Clients and contractors are urged to take extra note of time-bar clauses in construction projects. Herman du Rand, an Associate in the Dispute Resolution Department at PH Attorneys, previously known as Phatshoane Henney, tells the OFM Business Hour that construction contract parties are often caught sleeping on the time-bar clauses outlined in their contracts.
International Women’s Day for 2023 was celebrated under the theme Embrace Equity. OFM’s Olebogeng Motse spoke to Maphefo Sipula from Property Point to find out how they have observed the importance of women owned businesses in society and the impact thereof in economic transformation and gender fairness.
Is your business feeling the pinch of the 9,6% hike in the national minimum wage? If so, not all is lost, there are some alternatives you can explore to lighten the load on your wage bill. As of 1 March 2023 South Africa’s new minimum hourly wage rate rose by 9.6% from R23.19 to R25.42 per hour. Jaundré Kruger National Manager at Consolidated Employers Organisation (CEO) joined the OFM Business Hour in studio to discuss some alternatives that business owners can explore.
Rolling blackouts have had a significant impact on the events industry, but Koolest Sunday founder Lwando Mhobo believes social markets may be the way of the future for event planning companies. Mhobo says that while any event can be organised around a load-shedding schedule, social markets have an advantage because they are typically held during daytime hours and are less dependent on power supply.
Konsekwentheid is die sleutel tot jou besigheid se sukses - vir ons sessie op Dinsdae se Business 101, het ons vandeesweek van Iflair Photography se Francois van Vuuren gehoor. Francois se fotografiereis het begin toe hy Sondae, terwyl sy pa 'n middagslapie geniet het, sy pa se kamera gesteel het om te gaan foto's neem.
Zooming in on the business of wedding planning, a fashion designer at Dé Wear, Sadé Jansen, details to the OFM Business Hour the process of delivering a dream wedding dress for future wives. Jansen says to deliver a perfect wedding dress, one needs to have a relationship with the client.
As we are nearing the end of the wedding season in South Africa, the OFM Business Hour spoke to the founder and CEO of ENVIE, Tony Peng. The ENVIE concept, founded in 2012, is a creative lifestyle and concept Design Company, with a focus on planning, styling, and executing what he explained as weddings, corporate events, and lifestyle celebrations. He said when planning a wedding, the top three important things are the destination of the wedding, the budget, and a wedding planner who will ensure there is a proper flow at the wedding.
With South Africa in the throes of a solar panel buying boom, some environmental organisations call on citizens to think of the end-of-life management of these renewable energy technologies. One such Producer Responsibility Organisation (PRO), Circular Energy, tells the OFM Business Hour that consumers must be aware of how to properly dispose of solar panels after use, otherwise the country could find itself in a landfill crisis in years to come. Circular Energy Spokesperson, Patricia Schröder, expands on their concerns in this sit-down.
Jaco de Waal spoke to Japie Nieuwoudt, Product Manager at NWK about where to start if you want to use alternative sources of power generation during load shedding.
The new minimum wages for 2023 were recently announced. Professor Waldo Krugell, an economics professor at the North West University shared more info about the implication of this.
North West University (NWU) Economics Professor, Waldo Krugell, echoes media reports that describe Finance Minister Enoch Godongwana’s budget speech as pulling ‘a rabbit out of a hat’. In his sit-down with the OFM Business Hour Krugell says there are limited resources available and “this is really the best he could have done”.
South Africa may be facing a plethora of challenges, however the key to success for your business remains identifying the opportunities that exist within your sector and making the most of them. These are the words of Brendan Jacobs, Standard Bank’s head of Client Coverage Business Clients in the Free State and the Northern Cape who chatted to the OFM Business Hour about the macroeconomic challenges hindering businesses in the central SA.
In celebration of Valentine’s Day, OFM Business Hour spoke to two local business owners, florist Sharon Folkey from Cross Country Flowers - who has been in the business for over 20 years - and the owner and founder of A Long Table, Motheo Morgan.
The CEO of Eduvos, Siegie Brownlee, tells the OFM Business Hour about the higher private education institution’s qualifications and open application period.
Encourage your employees to play around with artificial intelligence (AI) tools like ChatGPT and Jasper. These are the words of business thought leader, strategist, author and founder of At that Point, Juanita Vorster who warns “don’t wait for technology to take over your job, adopt technology now and teach it to work for you”.
The closure of Seisoen Restaurant in Bloemfontein is not the end of the brand and staff will continue to work on future fine dining events, says the owner.
Speaking to Olebogeng Motse from the OFM Business Hour, Maradine Whitehorn, the owner and chef of Seisoen says it is not the end of an era for them as a brand, as they will continue hosting their events, just at different venues. The restaurant announced over the past weekend that they will be officially closing the doors on 24 February 2023. "A lot of people have asked us to do our pasta classes, so that is definitely on the cards; also, the sip and paint classes as people loved those - you drink wine, then you paint, then you laugh, then you eat."
The health, personal care and beauty industries rebounded in the last 12 to 18 months to pre-Covid-19 levels. FNB retail industry specialist Warren Pratt tells the OFM Business Hour that some businesses have reported turnovers exceeding what they earned prior to 2020.
Ladybrand-velsorghandelsmerk, Deborah Dorcas, het ontstaan uit 'n lewenslange passie vir velgesondheid en 'n gebed. Deborah Dorcas-stigter, Retha Styger, vertel vir die OFM Sake-uur dat om jou passie te vind, n groot deel van sakesukses is en sy kan dit uit eerstehandse ondervinding getuig.
As the youth of South Africa venture into different sectors to make a living, Melusi Thobela, founder and CEO of Deluxe Grills, believes food festival events will help increase the rate of employment. The 23-year-old has been selling food from his food truck in the streets of Bloemfontein while also organising the ‘Deluxe Fest’ food festival. In the recent, he will be collaborating with Matt Foodbar on opening a new outdoor restaurant on 4 February 2023.
As organisations and businesses in corporate South Africa beef up data security, cybercriminals are also upping the ante on phishing and ransomware attacks. This is according to Mimecast Vice-President, responsible for sales and engineering in Europe, the Middle East and Africa, Brian Pinnock, who was on the OFM Business Hour to discuss the evolution of the privacy and data landscape. The as International Data Privacy Day took place on Saturday, 28 January 2023.
High level talks with regards to South Africa’s economic relations with the US and Russia have recently taken place in South Africa. Professor Raymond Parsons, economist at NWU Business School, sheds more light on this.
Free State Cricket Chief Executive Officer (CEO), Johan van Heerden, anticipates that the upcoming SA vs Eng One Day International (ODI) series will draw 13 000 first timers to Bloemfontein. The Free State Cricket boss tells the OFM Business Hour that the presence of these spectators in the ‘City of Roses’ for the weekend will inject much needed revenue into the Free State economy.
The first-ever ICC under-19 women’s T20 World Cup is underway! The semi-finals and finals will be played at the JB Marks Oval in Potchefstroom. Olebogeng Motse spoke to Sunette Viljoen, ambassador of the ICC under-19 women’s T20 World Cup, about this exciting tournament.
South Africa’s Minister of agriculture, land reform & rural development, Thoko Didiza, is in the process of setting up a task team to gauge the impact of loadshedding on the agriculture sector. This revelation was made by Christo van der Rheede, Agri SA’s Executive Director during his sit-down with the OFM Business Hour.
Die sleutel tot 'n suksesvolle potgooi lê daarin om jou nis te vind en te ontwikkel. So sê Jacques Basson, gesoute verkoops- en bemarkingsbestuurder wat sewe jaar gelede die Afrikaanse sakepotgooi, Klipkouers, begin het - terwyl hy nog kniediep sy eie sakebelange in die buiteland gehad het.
Podcasts are being viewed as an important tool for people to build their businesses and brands. OFM's Olebogeng Motse had a conversation with Vuyo November, who is the founder and Chief Executive Officer (CEO) of the Casalena Group on why he decided to start his own podcast. He believes the podcast called “21st century millionaire” will contribute positively to his own brand and the brand of his business. “People usually take you seriously if they can hear your thoughts on particular issues, especially the ones that are happening within your industry,” says November.
Die president van die Mangaung Kamer van Koophandel en Nywerheid (MCCI), Nancy de Sousa, beklemtoon dat plaaslike diensverskaffers en besighede voorkeur moet geniet wanneer groot geleenthede in sentraal Suid-Afrika plaasvind. De Sousa het gepraat met verwysing na die ANC se verjaardagvieringe op 8 Januarie, wat die afgelope naweek in Bloemfontein en omliggende gebiede plaasgevind het.
The North West University’s (NWU’s) Policy Uncertainty Index (PUI) dropped to 53,2 in the fourth quarter of 2022 following the re-election of Cyril Ramaphosa as the President of the African National Congress (ANC). NWU Economics Professor, Waldo Krugell, tells the OFM Business Hour, that the index stood at 59,6 in the third quarter of 2022 following persistent load shedding in the country. But has appeared to have eased in the fourth quarter albeit still being in negative territory.
Adapting to the Fifth Industrial Revolution (5IR) will require a softening of attitudes by organisations. This is according to Chris VanderWalt, the founder and Managing Director of Sapiens@work who explained to the OFM Business Hour that the 5IR marks a development of a symbiotic relationship between technology, data, artificial intelligence and human beings. VanderWalt says the 5IR will move the pendulum back to human beings in organisations and in workplaces.
Die Grovés streef daarna om die gesinswaardes, wat hul besigheid die sukses maak wat dit vandag is, blywend te maak.
Hul onderneming, wat 'n huishoudelike naam vir baie is, is in die 1900's gestig en word al vir meer as 'n eeu lank bedryf.
Active software escrow agreements are increasingly becoming a must-have for businesses as insolvencies surge across varied industries including information technology (IT). Guy Krige, Director at Escrow Europe, tells the OFM Business Hour, that software end users (clients) are at risk should their software developers end up disappearing owing to financial constraints or being acquired by a bigger company.
Roughly 41% of South African businesses experienced some loss in revenue due to ransomware over the last year. This is according to Duane Nicol, senior product manager for Awareness Training at Mimecast who was on the OFM Business Hour on Monday to unpack the findings outlined in Mimecast’s State of Ransomware Readiness 2022 report. Nichol warns that cybercriminals will up the ante over the festive season as retailers seek to make the most of the period from a profit perspective.
Attorney and founder of the Legal Affair, Nonhlanhla Mtshali, unpacks what assets seizures by varying law enforcement agencies entail. Mtshali further answers how this impacts businesses, should the target of these seizures be entrepreneurs or the heads of establishments.
Soos meeste sake-eienaars was Morné Breytenbach se missie toe hy sy besigheid 28 jaar gelede begin het, om 'n sukses daarvan te maak sodat hy in staat sou wees om werksgeleenthede te skep en uiteindelik vir sy gesin op die lang termyn te voorsien. Morné Breytenbach vertel aan die OFM Sake-Uur om lojale personeellede te hê, wie se jare by die besigheid wissel van 6 tot 16 jaar, is waaraan hy sy besigheidsukses toeskryf, dít en lojale kliënte.
Erin Louw, founder of fempreneur networking app - Xena - urges business owners to make the most of the Black Friday and all-round festive season hype in prepping for 2023. Unfortunately, Louw reveals that 63% of female businesses surveyed said they aren't offering Black Friday specials owing to a plethora of factors. She provides tips on countering these challenges in her OFM Business Hour sit-down below.
Robustness takes businesses one step beyond resilience. Business thought leader, strategist, author and founder of 'At that Point', Juanita Vorster explains that robustness is one step beyond the disruption that change brings in her conversation with the OFM Business Hour.
Om in pas te bly met jou klante se behoeftes en op hoogte te wees van die nuutste markneigings in die kleinhandelbedryf is die sleutel tot die sukses van enige pandjieswinkel.
Die eienaar van Bedelia's The Bargain Masters in Welkom, Carlo Rohrs, meen om 'n tweedehandse item vir elke nuwe item te hê, is wat sy besigheid van die res onderskei.
Hy vertel aan die OFM Sake Uur sy passie vir verkope het op 'n jong ouderdom ontwikkel nadat hy in die koop- en verkoopbedryf grootgeword het.
Advertensies op OFM en mondelinge reklame is van sy grootste bemarkingsinstrumente.
Sibanye-Stillwater describes the restructuring of its South African operations as “a retrenchment avoidance process”. Sibanye’s senior VP for investor relations, James Wellstead, tells the OFM Business Hour that they are trying to avoid closing down the Beatrix 4 shaft near Welkom in the Free State, despite the mine’s drop in productivity and profitability. At risk in this restructuring process are just under 2000 jobs as well as 465 contracts which are mainly at the Beatrix 4 shaft and less so at the Kloof 1 plant in Gauteng. Sibanye says rising input costs, such as loadshedding, as well as a general drop in production has led them to this restructuring decision.
Sakelui op Harrismith sit ten spyte van talle uitdagings steeds skouer aan die wiel om dié Oos-Vrystaatse dorp te verbeter. Luidens die hoof uitvoerende beampte van die Harrismith Sakeforum, Ben Deysel, bly kragonderbrekings 'n bedreiging vir die plaaslike ekonomie. Hoewel gevestigde besighede ietwat meer in staat is om die uitdading te oorbrug, is dit die kleiner besighede wat die risiko loop om hul deure te sluit. Hy het met Kayla Barker op die OFM Sake-Uur gesels.
Charl Ranger a Senior Dispute Resolution Official at the Consolidated Employers Organisation (CEO) stresses the importance of being honest and upholding your integrity should your personal interests clash with your duties in the workplace. Ranger was speaking in reference to a labour matter dating back to 2015 involving a Chief Director at the Free State Department of Sports, Arts and Culture who procured business from the department for her guesthouse during the Macufe festival. The Labour Court in mid-October 2022 found in favour of the employer on the matter, following what appears to be years of back-and-forth litigation between the parties.
The Financial Sector Conduct Authority’s (FSCA’s) recognition of crypto assets as a financial product is the first step in creating a trust signal within the industry in South Africa. This is according to Louis van Staden, Luno’s General Manager responsible for Customer Acquisition, Onboarding and Payments, who calls this regulatory step “an incredible moment” for the industry.
Elsabe Richards-May het met Jacobus Claassens, operasionele bestuurder van Landboubestuursdienste by NWK en Frikkie Bronkhorst, bestuurder van heelgoedere en presisieboerderytoerusting by NWK Meganisasie, gesels oor die landbou hommeltuie wat NWK nou aanhou.
The key to success for Bloemfontein restaurant, flower and garden shop, Urth, lies with the diversification of the services offered. The Managing Director of Urth, Risna Opperman, tells the OFM Business Hour, that the restaurant/eatery industry in the Free State capital is quite competitive with new restaurants opening up. It is therefore crucial to remain relevant and somewhat “new” to prospective customers.
South Africans are more prone to spending money than saving it. This is according to Himal Parbhoo, the Chief Executive Officer (CEO) at First National Bank (FNB) cash investments. Parbhoo’s insights came as World Savings Day takes place on 31 October 2022. He was on the OFM Business Hour to unpack how South Africa compares to other parts of the world, with respect to the money saving culture and dished out tips to help one develop a healthy saving habit.
Mangaung Metro’s power utility, Centlec, says businesses in the area have made notable improvements in settling their debt for services rendered. Centlec spokesperson, Lele Mamatu, tells the OFM Business Hour that those who aren’t servicing their debt will have their lights switched off. The local power utility has been on a massive debt collection drive since March 2022 in an effort to ensure that they meet their obligations to Eskom.
Burnout can be defined as a chronic work-related stress that is not being successfully managed, and this stress has an effect on one’s well-being – however, will burnout leave work for the employees and employers of South Africa? OFM's Olebogeng Motse has a chat with Lyle Markham, an Industrial Psychology lecturer from the University of the Free State (UFS) to unpack his view on how the leave will in the country work.
Ten years after it exited the market, Malaysian vehicle manufacturer PROTON is now officially back in South Africa.
With the launch set to take place this weekend, Hardus Burger, Sales Manager at Human PROTON Bloemfontein, joined the Business Hour to explain what consumers can expect.
With Industry 4.0 continues to grow, ,any companies and business are aware of the threat to information technology (IT), however, little is known about cyber security for industrial cooperation’s operational technologies (OT). In spite of the fact that most people have a good understanding of what IT is, not many people are familiar with OT. OFM's Bambatha Giko discusses OT systems and the OT security with Group CEO of AVeS Cybersecurity.
The Chief Executive Officer (CEO) of SA Canegrowers, Andrew Russell, tells the OFM Business Hour, that the Health Promotion Levy (HPL) is a threat to the Agriculture and Agro-processing Master Plan (AAMP). Russell is hoping that government will ensure sustainability in the sugarcane sector by re-evaluating the HPL also known as the sugar tax. He says whilst the AAMP aims to ensure sustainability in the agri sector, the HPL does the opposite. Russell's sentiments come as Finance Minister, Enoch Godongwana, tables his Medium-Term Budget Policy Statement (MTBPS) in Cape Town on Wednesday, 26 October 2022.
The Northern Cape Chamber of Commerce and Industry (NOCCI) is looking into the quality of domestic water in Kimberley. NOCCI CEO, Sharon Steyn, tells the OFM Business Hour that several establishments have in a questionnaire revealed that some of their staff members fell sick in recent weeks after consuming water directly from the taps. Steyn says this proves that the water in the provincial capital and surrounding areas falling under the Sol Plaatje Local Municipality is not ok for human consumption at this stage.
The South African Association of Meat Importers and Exports (AMIE) is currently looking for ways to help reduce the price of chicken for consumers. Their intention to come up with a solution comes after they have had discussions with the government to review import tariffs on poultry, as they believe duties are another form of tax that consumers are unable to bear. OFM's Olebogeng Motse has a conversation with AMIE’s Chief Executive Officer (CEO), Paul Matthew to unpack their request for government to review import tariffs on poultry.
Next week Wednesday, 26 October 2022 'the city of roses' will celebrate the best Bloemfontein has to offer in a glitzy ceremony to be held at Ramblers Club. First National Bank (FNB) is sponsoring the award ceremony for the tenth edition of the Bloemfontein Courant Readers' Choice Awards. Stephen Gooch, FNB's regional director responsible for business banking in the Free State tells the OFM Business Hour why they wanted to be a part of celebrating local business.
Employees can look forward to working for less hours, with the same pay, added rest and focus with the potential of a four day work week model that might be implemented across South Africa.
The Chief Executive Officer (CEO) of the Bloem Show, Elmarie Prinsloo, tells the OFM Business Hour what they have in store for the event in 2023 as they celebrate 140 years in existence.
The management of Intercape assures central South Africans that the acquisition of Big Sky bus liner will not lead to job cuts in the region. Shaun Smeda, the Chief Commercial Officer (CCO) at Intercape tells the OFM Business Hour that not only have they kept all the Big Sky personnel, but they have also kept the existing fleet of the Bloemfontein headquartered charter company.
It is unknown if Eskom’s newly constituted board of directors will turn the tide at South Africa’s ailing power utility. This is according to the Chief Executive Officer (CEO) at the South African Chamber of Commerce and Industry (SACCI) Alan Mukoki, who explains to the OFM Business Hour that Eskom exists as an ecosystem and until a root-cause analysis has been conducted which determines where the key issues lie at the utility, the board’s success remains unknown.
Amanda Tshemese, the head of communications at the South African Transport and Allied Workers (Satawu) tells the OFM Business Hour that they are getting ready to embark on strike action at Transnet as wage negotiations between the parties deadlock. Satawu and the United National Transport Union (Untu) are both threatening to down tools over the entity's refusal to agree to a wage increment of between 12% and 13,5%.
Even with the recent interest rate hike, it is never not the right time to buy property – because property works like a saving’s account, the earlier you start saving, the better. Marketing manager from Engel & Völkers real estate company, Helandi Moolman says there is never the wrong or right time to purchase property, as it is a long term investment and it is important to climb the property ladder as soon as possible. In this conversation with OFM News' Tshehla Koteli, she will be unpacking more on how investing in property works and how has the recent interest rate hike impacted the industry.
As the Free State High Court has delivered its judgment on the awarding of Mangaung African Cultural Festival (Macufe)’s tender, which was granted in favour of the applicant by default, means the chances of an appeal are very slim. Attorney Lebohang Mokhele says a default judgment is handed down when the respondent has not responded to summons or has failed to appear before the court of law, the failure to take action is the default. Mokhele unpacks more on the court's judgment.
Mitzi Noome, the Sales Manager at Digital Platforms and Johandre Olivier, Digital Marketing Consultant at Digital Platforms unpacked the importance of having a website as a part of your overall business marketing strategy on the OFM Business Hour. Olivier broke down the A's and B's of marketing your business online.
Bongiwe Mbunge, the National Head of Sustainability unpacked business sustainability and the misconceptions around it on the OFM Business Hour.
The cost of building in South Africa is 11% higher than it was last year as local contractors pass the burden of inflation to their clients. According to Craig Lemboe, senior economist at the Bureau for Economic Research (BER), the Building Confidence Index (BCI) for the third quarter of 2022 is now 11% higher year-on-year that it was in the second quarter - thus indicating that the gap between input costs and the tender price is becoming narrower. This means contractors are not carrying the burden of input costs like before and are now leaving clients to foot the higher bill.
Op die Sake-Uur gesels ons “Read of the Week” en die boek, Die Inklusiewe Ekonomie, is in die kollig. OFM se Lee Simmons gelsels met Dr. Arno van Niekerk, skywer van Die Inklusiewe Ekonomie, oor die nuwe boek.
Natalie Murison, the Chief Operating Officer (COO) at Two Tone Global tells the OFM Business Hour that businesses cannot be structuring any kind of media campaign without having active presence on social media. Whilst this is something that has been in the public domain for sometime, she explains that the sentiment intensified on the back of Covid-19 with many companies pivoting their marketing spend exclusively towards digital strategies. Murison says for their business in particular, digital marketing now makes up about 60% of Two Tone Global's revenue. This as the 21-year-old marketing agency has been selected as SABC's creative agency of choice in marketing the 2022 FIFA World Cup taking place in Qatar towards the end of the year.
About 55% of sales for water filtration systems in the market are taking place in urban areas as compared to 45% in rural areas. This is according to Sebasti Badenhorst, the executive responsible for sales, marketing and distribution at Jojo. This is a clear indicator that water quality in urban areas is becoming poorer as municipalities struggle to service growing populations.
Showmax’s much-anticipated 3-part docuseries Steinheist aims to shed light on the people and the interpersonal relationships behind the corporate fraud. Steinheist director, Richard Finn Gregory, tells the OFM Business Hour that the documentary seeks to unpack the motivations of these central figures like Steinhoff’s former Chief Executive Officer (CEO) Markus Jooste.
The latest plan by Eskom to apply for a 32% tariff hike that will be implemented on 1 April 2023 is seen as unacceptable by the Northern Cape Chamber of Commerce and Industry (Nocci), as the hike might lead to some businesses closing down. OFM’s Olebogeng Motse chats to the CEO of Nocci, Sharon Steyn about what the chamber thinks of the tariff hike and how will it affect businesses.
Sceptical about the Metaverse? Purchase some real estate there anyway says Rogerwilco Chief Executive Officer (CEO) Charlie Stewart. He was on the OFM Business Hour unpacking key findings on the Metaverse in the 2022 SA Digital Customer Experience which he co-authored alongside Amanda Reekie from ovatoyou and Julia Ahlfeld of Julia Ahlfeldt CX Consulting.
12 to 16 September is National Wills Week – the sole purpose of the week is making people aware of the importance of having a valid Will. A Will is seen as such an important document it is because it is the only legal document that has a standing of what should be done with one’s assets, big or small, when they are no longer alive. OFM News’ Tshehla Koteli had a conversation with Johan Strydom, Head of Growth at FNB Fiduciary to find out more on Wills.
The Chief Executive Officer (CEO) of Business leadership South
Africa (BLSA), Busiswe Mavuso, unpacked the recent decision by the Home
Affairs department to centralize all work visa applications on the OFM Business Hour.
Jagersfontein resident and community activist, Lebogang Phoofolo, tells the OFM Business Hour that the slime dam in the mining town was always a disaster waiting to happen. This comes after the slime dam belonging to diamond mining company Jagersfontein Developments breached on Sunday, 11 September damaging houses and vehicles. The incident saw the death of one person. Phoofolo says the community has actively been demanding development from the mine for years and also raised concerns over the danger of the mining activities.
Makalo Mohale, the MEC of the Free State Department of Economic, Small Business Development, Tourism and Environmental Affairs (DESTEA) tells the OFM Business Hour what they are doing to better support businesses in the province.
Vuyo November, the Bloemfontein entrepreneur behind Rat Race: Escaping Life’s Financial Trap, says passion is the first key to success for any entrepreneur. He shares more insights from the read of the week with the OFM Business Hour.
Klippies Kritzinger, the President and Chief Executive Officer (CEO) of the Golden Triangle Chamber of Commerce (GTCoC) says businesses in the Vaal area remain resilient despite challenges brought about by poor service delivery and difficult economic conditions.
Sharon Steyn, the Chief Executive Officer (CEO) at the Northern Cape Chamber of Commerce and Industry (NOCCI) lets the OFM Business Hour in on how businesses are doing presently and also weighs in on the dramatic removal of a popular food bus located in Kimberley by the Sol Plaatje Local Municipality.
The offices of eight long-term insurance companies were raided last week in connection with a price fixing and collusion investigation undertaken by the Competition Commission of South Africa. The Commission’s spokesperson, Sipho Ngwema, tells the OFM Business Hour, that the alleged misconduct, which was reported to them by an industry insider, dates back to the 1980s.
The provincial secretary for Cosatu in the Free State, Monyatso Oa Mahlatsi tells the OFM Business Hour that there are measures that the South African government can implore to alleviate the burden of the high cost of living on citizens. He says these measures include sourcing cheaper brent crude oil from BRICS countries.
Olebogeng Motse speaks to Portfolio Director: Mining & Industrial, Charlene Hefer, from Electra Mining Africa, Southern Africa’s biggest mining, electrical, automation, manufacturing, power and transport trade exhibition taking place at the Expo Centre, Nasrec in Johannesburg, 9am to 5pm daily; from 5-9 September 2022.
James Brand, a senior associate in the Natural Resources and Environment department at ENS Africa unpacks what environmental, social and governance (ESG) credentials are on the OFM Business Hour and explains why this movement is gaining traction globally.
The spokesperson of the Sol Plaatje Local Municipality, Thoko Riet, tells the OFM Business Hour that government departments and businesses in Kimberley and surrounding areas owe about R 1 billion for services rendered. Riet says the municipality has now embarked on an operation to recoup the money owed.
Special envoy responsible for market access and EU matters at the Citrus Growers Association of South Africa, Deon Joubert unpacks phytosanitary regulations introduced by the EU on SA's citrus exports and the impact thereof should the regulation remain in place.
The founder and Chief Executive Officer (CEO) of the Free State Fashion Week, Candy Smith told the OFM Business Hour what attendees can expect during the event which is taking place from 29 September to 1 October 2022.
Tyre prices in South Africa could in the next year rise by between 17% and 41%. This is due to an application by the South African Tyre Manufacturers Conference (SATMC) for a dumping margin to be implemented on tyre imports from China. Charl de Villiers the chairperson of the Tyre Importers Association of South Africa (Tiasa) was on the OFM Business Hour to unpack the application and it's impact on South Africans should it be greenlit by the International Trade Administration Commission (ITAC).
Dika Kheswa, the spokesperson for the Moqhaka Local Municipality weighs in on Kroonstad's recent crowning as Kwêla's dorp van die jaar. Kheswa says Moqhaka is looking to partner up with more local businesses in improving the condition of the towns under its jurisdiction.
Corlia van Zyl, the director in the property department at Bloemfontein headquartered law firm, Phatshoane Henney, delves into the considerations that one needs to make when installing a generator at your commercial or residential property. The conversation comes as President Cyril Ramaphosa presented an energy crisis plan during his address on Monday to combat ongoing loadshedding.
Adele du Toit, the spokesperson of the South African Rooibos Council unpacks the industry’s history making disbursement to the San and Khoi community on the OFM Business Hour.
The demand for pork in South Africa is on the rise as households battle food inflation amongst other pressures. Domaine Rautenbach, Brand Manager at Eskort was on the OFM Business Hour to talk about pork’s popularity as lamb and beef prices soar.
In April this year, extreme flooding in KwaZulu-Natal led to loss of life and thousands of homes being destroyed. McDonald’s South Africa launched the KZN Disaster Relief campaign to assist in with relief in the province. Every time a customer purchased their favourite McDonald’s meal, they could donate R5 that would go towards the flood relief efforts. The campaign has raised over R500 000 in just two months. Olebogeng Motse spoke to Jo-Ann De Wet, Executive: Franchise Operations, Risk and Delivery, at McDonald’s South Africa, to find out more…
Mojalefa Mphapang, the spokesperson for the Free State Department of Economic, Small Business Development, Tourism and Environmental Affairs (Destea) tells the OFM Business Hour how the department is clamping down on illicit alcohol trading in the province.
Vusi Zwane, the township economic development manager at non-profit company (NPC) Seriti, unpacks their flood relief programme aimed at assisting Deelpan businesses in the North West, following recent floods.
Dell Technologies South Africa's Managing Director and Vice-President Doug Woolley delves into how technology continues to advance sport in South Africa. This comes amidst Dell's partnership with the South African Rugby Union (Saru). He spoke to the OFM Business Hour ahead of SA's test match against Wales in Bloemfontein.
Starbucks South Africa is all geared up for the brand’s expansion to Bloemfontein in the Free State. Beverage Category Lead / Head of Coffee Platforms at Starbucks, Ishan Natalie as well as barista champions Teddy Nzama and Kusakusa Kingdom Khumalo (Kay Kay) were all on the OFM Business Hour to talk about the country’s coffee culture with this imminent opening at Mimosa Mall in mind.
South Africa’s clash with Wales this coming weekend in Bloemfontein, is anticipated to inject roughly R 48 million into the economy of the ‘city of roses’. The Chief Executive Officer (CEO) of the Free State Cheetahs, Ross van Reenen, tells Nick Efstathiou, the CEO of the Central Media Group, that at this stage at least 27 000 visitors are expect to descend on the provincial capital on Saturday.
Dr Harlan Cloete from the University of the Free State's (UFS') Department of Public Administration and Management is of the view that the Auditor General's office must audit human resource practices in municipalities. This as AG Tsakani Maluleke revealed last week that
consultants made R1,26 billion in 2020/21 doing basic financial accounting tasks at municipalities. An indication that there is no skills development at most municipalities despite officials earning a lot of money.
Employers should before abandoning or maintaining mask-wearing in the workplace, consult their risk assessment first. ENS Africa employment executive, Lauren Salt, says this is to ensure that whatever decision is made regarding mask-wearing in the workplace is supported by a justifiable reason.
Sibanye Stillwater says it will take a three-months before operations in the country return to normal, following its lockout that came in the midst of wage related strike action. Last week Sibanye announced it had entered into a three-year wage agreement for its South African gold operations with the Association of Mineworkers and Construction Union (AMCU) and the National Union of Mine Workers (NUM) effective from 1 July 2021. Sibanye spokesperson, James Wellstead, tells the OFM Business Hour, that they still have to recall staff from other provinces and neighbouring countries like Lesotho.
The editor of Moneyweb Crypto, Ciaran Ryan, says the imminent regulation of cryptocurrencies in South Africa will weed out the dodgy and weaker cryptos. Ryan will be leading the alternative investment sessions at the Moneyweb 'better investor conference' to be held virtually on 22 and 23 June 2022.
The most common mistake that South Africans make when it comes to investing is not doing enough research. Ryk van Niekerk, Moneyweb’s editor tells the OFM Business Hour that getting clued up on the A’s to Z’s of investing in the markets is crucial to making your money grow. This sit-down with van Niekerk comes as Moneyweb hosts its ‘better investor conference’ on 22 and 23 June 2022 aimed at helping people become better investors.
South Africa needs to double up on structural reforms in order to have the country’s bonds revised to investment grade. This is according to Busisiwe Mavuso, the chief executive officer (CEO) of Business Leadership South Africa.
The OFM Business had a sit down with the CEO of Big Concerts and MD of TicketmasterSA - Justin Van Wyk - on the recent announcements of upcoming concerts to South Africa. Among many things, he discusses the processes taken since the Covid-19 pandemic and the international trends seen in the live entertainment arena. OFM's Tim Thabethe conducted this 2-part interview.
With the current state of power delivery in South Africa, we spoke to Rikus Kruger, the head of sales for Nashua in the Free State, Northern Cape and Lesotho about the solar alternatives that Nashua delivers to the public.
The Sunshine Tour returns to Kathu in the Northern Cape, for the inaugural Sishen Classic, in partnership with Kumba Iron Ore, a subsidiary of Anglo American.
The tournament will bring the country’s best back to Sishen Golf Club, 26 – 29 May 2022, where they will compete for the highest prize-fund on the Tour’s schedule for non-co-sanctioned events - a whopping R3-million.
The Sunshine Tour is growing faster than ever before and partners like Anglo American make this possible. OFM Sport Editor, Morgan Piek caught up with Andre Roux, General Manager for Sishen Mine.
Many investors are facing several issues when it comes to investment opportunities. The Business Hour's Olebogeng Motse spoke to Nick Morgan, co-founder of Opportunity Private Capital, to find out how they are helping to solve this problem.
With the portable Ozone Steam Sauna from Global Wellness Enterprises, you can enjoy the benefits of Ozone Technology anywhere, anytime. Jaco de Waal spoke to Marnitz Marais of Global Wellness Enterprises to find out more about the portable sauna.
Disclaimer: This is not medical advice. Use at your own risk. Consult a medical professional before use.
The Compensation Fund is an entity of the Department of Employment and Labour. It is responsible for the provision of compensation, pension and medical benefits as well as rehabilitation services to employees who are injured or contracted diseases during the course of their employment. The portal for submitting the Return of Earnings at the Compensation Fund is now open for filing 2021 returns. The Business Hour's Olebogeng Motse spoke to Vusi Maluleke, Deputy Director of Employer Assessment, to find out more. Listen here:
The Chief Executive Officer (CEO) and founder of Paragon Lending Solutions, Gary Palmer, urges small businesses to ensure that their financial housekeeping remains in order when approaching lenders for assistance.
Kabelo Andreas, the Chief Executive of Mapeo-Andi and the managing director of Kuruman-based AND310 tells the OFM Business Hour about the opportunities that exist for small businesses in the mining sector.
Wesley Field, the provincial manager for the Consolidated Employers Organisation (CEO) in the Free State and Northern Cape sits down with the OFM Business Hour to discuss the 'great resignation'.
Olebogeng Motse spoke to Sol Plaatje University’s vice-chancellor, Professor Andrew Crouch, to find out about the rise in number of students at the university.
The Free State will participate in the Travel Indaba at the Durban ICC from 3 to 5 May. The Business Hour spoke to Tseliso Lerumo, the Free State Gambling, Liquor and Tourism Authority’s Communications Manager, to find out what the authority aims to achieve through this platform. Listen here:
Standard Bank supports entrepreneurs on their paths leading to growth. One such an entrepreneur is Charlene Badenhorst, the owner of Case Bloemfontein and Ladybrand in the Free State. She shared her success story and the role Stand Bank played in her business’s growth journey with the OFM Business Hour. Badenhorst was joined by Sandra Smith, Standard Bank Head of Business Clients - Bloemfontein area.
South Africa is experiencing an energy crisis. But what’s the alternative? Did you know that there are tailor-made solar solutions for your business as well as expert advice about off-grid, grid-tied or hybrid solar systems with financing options to help you to sidestep the grid sooner? Olebogeng Motse spoke to Jaco Peyper from Nashua Free State and Northern Cape…
Peyper gesels op die OFM Sake Uur oor die dinamiese oplossings wat Nashua in hierdie veld bied.
Some of the key economic indicators we need to keep an eye on over the course of this week include data about mining and manufacturing output in South Africa in February 2022.
North West University (NWU) economics professor, Waldo Krugell [Waldo Krugell | news.nwu.ac.za], says we can also expect retail, wholesale and motor trade figures from Statistics South Africa.
Expectations are such that the data will confirm that the country’s economy started the year on a good note.
“Though February numbers now seem out of date considering the subsequent impact of Russia’s invasion of Ukraine, they do help economists to refine their predictions for the year ahead. This is also why the Reserve Bank’s bi-annual monetary policy review document will be interesting this week,” says Krugell.
OFMBusinessHour - Spectrum auction ‘ray of hope’ for SA | OFM
On the international front, the United States of America’s consumer price index (CPI) inflation data for March will be released this week, not forgetting the European Central Bank’s monetary policy decision.
“They are expected to keep their policy interest rate unchanged,” predicts the NWU economist.
Listen to Krugell unpack last week’s indicators below:
The Northern Cape Chamber of Commerce and Industry (NOCCI) aims to expand its reach throughout the province over the course of the new financial year.
This is according to the president of NOCCI [https://www.nocci.co.za/], Pieter Botha, who tells the OFM Business Hour, that it is a new dawn for the chamber following the election of a new committee in February 2022.
The committee’s goals include: working alongside local government, upping the ante on events, and expanding the reach of the chamber across the vast central South African province.
Botha says the latter goal will be met by getting all the defunct chambers in various parts of the Northern Cape up and running again.
On the issue of challenges in the province, Botha says poor service delivery is continuing to be a heavy burden on local businesses.
He adds road infrastructure in the Northern Cape is dilapidated, further stressing that “businesses cannot continue to function this way”.
Botha says they have engaged local and provincial government on the issue of service delivery despite numerous postponed meetings. He says the chambers wants to see improvements in service delivery or they will be taking further action against the government in future.
ALSO READ: https://www.ofm.co.za/article/business/311280/-ofmbusinesshour-blackouts-killing-local-business-nocci
The NOCCI president also commented briefly on the recent R 1.50 temporary reduction in the general fuel levy by Finance Minister, Enoch Godongwana, (https://www.gov.za/speeches/speech-minister-finance-enoch-godongwana-parliament-announcement-temporary-reduction-fuel ) which led to the cost of fuel rising moderately last week.
Botha says whilst it provides some relief for businesses, it remains “a drop in the ocean”. He believes more still needs to be done to lower input costs for small businesses in South Africa.
Creating psychologically safe workplaces needs to be a part of any business strategy.
This is according to Professor Renata Schoeman [https://renataschoeman.co.za/], the head of the MBA in Healthcare Leadership programme at the Stellenbosch University Business School.
She tells the OFM Business Hour that mental wellness in the workplace has become even more important in the wake of the Covid-19 pandemic.
Also Read: 'More clients going digital’ – marketing guru | OFM
Schoeman, who is also a psychiatrist by profession, says the return of investment for each rand a business spends on mental health is easily R3 to R8. This is due to turnover being linked employee satisfaction.
Covid-19 has also highlighted how backward measuring productivity according to “hours spent in seat” as opposed to actual output is.
She adds creating flexibility will attract younger employees, because “this is what they want”.
Listen to the conversation below.
Daar is goeie nuus vir graanprodusente, veral in die noordelike gebiede van Sentraal Suid-Afrika. Volgens NWK Landboubestuursdienste se Bestuurder: Presisieboerdery, Martiens du Plessis, was produsente in NWK se bedieningsgebeid met ’n baie goeie seisoen geseën, en hy verwag dat produsente goeie graanopbrengste gaan hê. Du Plessis het met OFM Inhoudsredakteur, Elzette Boucher-Krüger, gesels op die OFM Sake Uur.
The Automobile Association (AA) [https://aa.co.za/] of South Africa says government needs to fast-track any additional plans that are in the pipeline to curb soaring fuel prices.
The AA’s Layton Beard says they welcome the R 1.50 reduction in the general fuel levy by Finance Minister Enoch Godongwana, which has cushioned the blow for South Africans somewhat.
Also Read: AA calls for fuel price structure review [https://www.ofm.co.za/article/sa/312405/aa-calls-for-fuel-price-structure-review]
On Monday, the Department of Mineral Resources and Energy announced that come Wednesday petrol will increase by between 28c and 36 cents a litre for both grades of 93 and 95 octane.
Diesel is set to climb by between R1.52 and R1.69 per litre.
The wholesale price of illuminating paraffin is set for the steepest increase with this fuel set to rise by R2.66 a litre.
The driver behind these increases is the rising price of international petroleum which contributed 100% to the increases seen locally.
Listen to the interview below:
The Business Hour's Olebogeng Motse spoke to Standard Bank's Brendan Jacobs about how Standard Bank supports entrepreneurs on their paths leading to growth. #ItCanBe
Job losses in the manufacturing, transport and construction sectors respectively led to the unemployment rate in South Africa rising to 35.3% in the fourth quarter of 2021.
This is up from 34.9% in the third quarter.
North West University Economics Professor, Waldo Krugell [https://news.nwu.ac.za/experts/waldo-krugell], says the 397 000 jobs lost were countered by the 262 000 jobs created by the private household, community and social services, trade, agriculture, mining as well as the finance sectors.
The expanded jobless rate, which includes discouraged workers not seeking employment, rose to 46.2%.
Also Read: NW government reportedly spent millions on SMMEs [https://www.ofm.co.za/article/centralsa/313911/nw-government-reportedly-spent-millions-on-smmes]
Krugell says the short-term causes behind the job losses in the manufacturing and construction sectors were loadshedding as well as the steel and engineering strike seen towards the end of the 2021.
The long-term causes are somewhat different. Government’s inability to spend money on big construction projects owing to a constrained fiscus has led to this sector finding itself in tough times from a long-term perspective. With respect to manufacturing, increasing global competition and the dawn of the Fourth Industrial Revolution have seen this industry continue to decline.
Olebogeng Motse spoke to Phindiwe Sobuwa, Deputy Director of Capacity Building, about education programmes offered by the department.
The latest business news from Central SA. Presented by Olebogeng Motse and produced by Aaron Masemola.
The latest business news from Central SA. Presented by Olebogeng Motse and produced by Aaron Masemola.
More clients are looking to media companies in their quest to go digital.
This is according to media maven and published author, Pepe Marais, the Group Chief Creative Officer and founding partner of Joe Public United [https://joepublicunited.co.za/], who says this is one trend he has spotted with respect to changing client patterns in the wake of the Covid-19 pandemic.
Also read: Media provides hope amid challenges https://www.ofm.co.za/article/business/314264/-ofmbusinesshour-media-provides-hope-amid-challenges
Marais, who penned Growing Greatness: A Journey Towards Personal and Business Mastery, was in conversation with the Central Media Group Chief Executive Officer, Nick Efstathiou, on the evolution of media and advertising in the wake of the Covid-19 pandemic on the OFM Business Hour.
Marais stresses that the shift to remote working cannot be ignored, even in the media space.
“We can work from anywhere in the country, efficiently so. If you told me that three years ago, I wouldn’t have believed it,” says the Joe Public United founding partner.
When probed on the challenges of hybrid working especially in media, Marais says we have to find a new way of working, otherwise the last two years would have been “a waste of so much”.
Marais says he penned his book because he wants to help people grow via the replacement of limiting habits with liberating habits. He adds that he went on this journey and it greatly impacted his life.
Listen to the full conversation below:
The latest business news from Central SA. Presented by Olebogeng Motse and produced by Aaron Masemola.
The National Energy Regulator of South Africa (NERSA), Eskom and struggling municipalities are amongst the issues threatening the growth trajectory of businesses in South Africa – media included.
Alfie Jay, the Managing Director of Algoa FM, tells the Central Media Group’s Chief Executive Officer, Nick Efstathiou, that despite these challenges, businesses will continue to forge ahead, making it to the other side.
Jay says the human spirit is one of positivity and he sees media as being central to providing these glimmers of hope to citizens and businesses, via prospects.
The Business Hour's Olebogeng Motse spoke to Dr, Tseliso Ntili, Free State Water and Sanitation Provincial Head, about the background of National Water Month and the status of the dams in the Free State.
Business Hour's Olebogeng Motse spoke to Elmarie Prinsloo, the CEO of Bloem Show, to find out how they handled the financial impact of the Covid-19 pandemic and what business opportunities Bloem Show offers.
Revix's founder and CEO, Sean Sanders, also discussed inflation in crypto with the Business Hour. Listen here:
The Independent Communications Authority of South Africa (ICASA) has recently revealed that it had managed to raise R14.4 billion from the country’s hugely successful spectrum auction process, which began on 10 March 2022.
North West University Economics Professor, Waldo Krugell, tells the OFM Business Hour that the success of this previously embattled process is a ray of hope for South Africa’s economy.
However, Krugell cautions that this doesn’t mean the end for the process.
For one, Telkom is still challenging the process via the country’s legal system – the outcome of which is still pending. There is also the matter of moving from analogue to digital television broadcasts that needs to be completed to ensure the spectrum is available.
Also Read: Temporary spectrum pressure test for mobile operators [https://www.ofm.co.za/article/business/311175/-ofmbusinesshour-temporary-spectrum-pressure-test-for-mobile-operators]
ICASA says the main auction stage comprised of 58 rounds of bidding between six bidders. The authority further confirms that there was one unsold spectrum lot. This list will still be licensed by ICASA in future.
The next stage of this process will be the assignment round which the authority says is an administrative process and will take place on 22 March 2022 [LINK: ICASA concludes successful spectrum auction and collects more than R14.4 billion proceeds — Independent Communications Authority of South Africa], to determine the actual spectrum ranges to be assigned.
Previously on The Business Hour, the Chief Executive Officer of telecommunications company, Ignition Group, Valde Ferradaz said he doesn’t believe that spectrum was always a part of government’s economic agenda from the beginning.
He added that telecommunications companies have been pleading with government to come to the table regarding spectrum allocation for more than ten years, a clear indicator that the issue over high data costs isn’t one that began recently.
OFM Inhoudsbestuurder, Elzette Boucher-Krüger gesels met Schaun Van Den Berg, algemene bestuurder verkope by Business OUTsurance oor waarom ondernemings seker moet maak dat hulle die regte besigheidsversekering in plek het.
Accessing new customers is a barrier to growth for artisan businesses.
This is according to chief technology officer and co-founder of Kandua.com [https://kandua.com/], Arjun Khoosal, who tells the Business Hour that their recent research shows that access to funding and new customers remain these small businesses’ biggest concern.
With respect to access to funding, most startups do not meet the minimum requirements, for funding from traditional banking institutions, owing to the absence of an extensive business track record.
Also Read: Fintech lenders continue to fill in the funding gap in SA [https://www.ofm.co.za/article/business/312409/-ofmbusinesshour-fintech-lenders-continue-to-fill-in-the-funding-gap-in-sa]
Previously the Chief Executive Officer and co-founder of Fundrr, Idan Jaan, told the Business Hour the funding gap for start-ups in South Africa is born from the absence of a venture capitalist ecosystem.
This ecosystem is very present and robust in more developed countries, which is why the start-up culture is different in South Africa.
Listen to Khoosal’s insight’s below.
The provincial cricket federations took a much harder knock from Covid-19 than what Cricket South Africa (CSA) did in the last two years.
This is according to Dr Jacques Faul, the former Chief Executive Officer (CEO) of CSA [https://cricket.co.za/] and the incumbent head of the Titans.
Also Read: Business opportunities post Covid-19 [https://www.ofm.co.za/article/ofm-business-/301094/business-opportunities-post-covid-19]
Faul, who was in conversation with Nick Efstathiou, the CEO of the Central Media Group [http://www.centralmediagroup.co.za/] (CMG) under which OFM falls, on the OFM Business Hour, says the national federation makes 60% of its revenue from broadcasting rights and 80% of that revenue is generated from Indian premier league content.
Provincial federations make their revenue from tickets sold, in particular suites.
Faul explains with respect to the Titans, they couldn’t invoice their suites for two years, translating to a loss of over R3-million.
Listen to the full interview below:
On 18 March, the Companies Tribunal, in partnership with the University of the Free State’s (UFS) Mercantile Law Department, is hosting a company law virtual seminar on selected aspects of the Companies Act, 71 of 2008. I spoke to Selby Magwasha, registry manager at the Companies Tribunal, to find out more.
Two stalwarts of the South African economy, mining and agriculture, are set to excel in 2022 despite rising geopolitical tensions globally.
This is according to Waldo Krugell, Professor in Economics at the North-West University's Potchefstroom Campus, speaking to the Chief Executive Officer of Central Media Group, Nick Efstathiou.
Krugell says minerals like platinum, palladium and gold are in demand and commodity prices are at a high.
Previously on the OFM Business Hour, Krugell explained that when there is conflict, the price of gold increases, as a safe haven asset.
Russia is also a major producer of platinum, palladium and rhodium and these prices have increased.
Also Read: Ukraine and the economy [https://www.ofm.co.za/article/business/313742/-ofmbusinesshour-ukraine-and-the-economy]
The conflict has also influenced the prices of agricultural commodities. Both the Ukraine and Russia are major exporters of wheat, maize, and sunflower oil. Together they account for a quarter of global wheat exports. The Ukraine’s sunflower oil exports make up 40% of global exports and Russia accounts for 18% of global sunflower oil exports. Any disruption of trade will add to already high agricultural commodity prices.
The conflict may also influence South African exporters. Russia accounts for 7% of our citrus exports in value terms, and 12% of apples and pears exports. Not forgetting the conflict’s impact on the price of the Brent Crude Oil price, on which Krugell elaborates further in the podcast below.
The Business Hour's Olebogeng Motse spoke to Revix's founder and CEO, Sean Sanders, about how the hostile situation happening between Russia and Ukraine is affecting the crypto market.
Digitalisering van besighede (soos franchise en kleinhandel) het aan die orde van die dag geword om relevant en in besigheid te bly. Sommige het selfs massiewe groei deur digitalisering gesien. Het die Agri-spelers 'n verskuiwing na hierdie verskynsel gesien of heers die stand van sake? OFM-inhoudredakteur, Elzette Boucher-Krüger, kom meer te wete by Daneel Rossouw, Funksionele Hoof Landbouverhoudingskanale by Nedbank.
The Chief Executive Officer (CEO) of the Northern Cape Chamber of Commerce and Industry (NOCCI), Sharon Steyn, urges businesses in Central South Africa to make use of their local chambers and not just sit on the side-lines.
Steyn says it’s vital to be affiliated with business chambers, the voice of business, because it enables you to have access to a national network of small business, institutes and chambers. Not forgetting having a direct line to government.
She stresses, however, that it is of no use if a business merely joins a chamber but does not participate: “It’s of no use if a business sits on the side-lines.”
Steyn tells the OFM Business Hour with Nedbank Agri-Business Banking that whilst it’s been a tough time for businesses in the Northern Cape, many entrepreneurs have shown fortitude and remind us that we need to focus on the positive and not just harp on the negative, which include poor service delivery.
She believes that public and private collaboration can assist with delivering services to the people of the province again.
The latest business news from Central SA. Presented by Olebogeng Motse and produced by Aaron Masemola.
Russia-Ukraine
Last week the Russian invasion of the Ukraine had economic ripple effects as far away as South Africa. The links are through trade, and markets have priced in potential disruptions in supply due to the conflict and the sanctions against Russia.
It was specifically metal prices that soared. When there is conflict, the price of gold, as a safe haven asset increases. Russia is also a major producer of platinum, palladium and rhodium and these prices increased. On the JSE, platinum and gold stock also surged, shielding the South African market from some of the turmoil elsewhere.
The conflict also influences the prices of agricultural commodities. Both the Ukraine and Russia are major exporters of wheat, maize and sunflower oil. Together they account for a quarter of global wheat exports. The Ukraine’s sunflower oil exports make up 40% of global exports and Russian accounts for 18% of global sunflower oil exports. Any disruption of trade will add to already high agricultural commodity prices.
The conflict may also influence South African exporters. Russia accounts for 7% of our citrus exports in value terms, and 12% of apples and pears exports.
Added to this, the oil price also increased, and Brent crude now trades above $100 per barrel. The price has increased more than 31% in 2022 and by 60% over the past 12 months.
Together it makes for a differential impact on the South African economy. Companies and exporters will benefit from high commodity prices, but higher prices for food and fuel will add to inflationary pressure.
SA Inflation
Looking at the domestic picture, there was some good and bad news last week and the pressure on prices will be some balance of these.
On the one hand, producer price inflation in January moderated to 10.1%. Month-on-month, the PPI increased by 0.2%, which is the slowest rate of increase in a year.
Also, NERSA only allowed a 9.61% tariff increase for Eskom, after the utility requested a 20.5% increase. But keep
Interest rates for residential property are lower than ever before and those in the know say they may never return to pre-COVID rates. However, does this mean that this is the right time to invest in property?
Justin Easthorpe, Ooba Group Provincial Sales Manager in Gauteng says the answer is “yes”, if the intention is for you to live in it.
However if your intention is to rent it out, there may be some pitfalls.
“There is not much rental stock. So you’re not getting your return on a rental at this stage. It is an interesting dynamic that we’re seeing,” says Easthorpe.
Also read: Is this the time to purchase rental property or not? [https://www.ofm.co.za/article/business/313036/-ofmbusinesshour-is-this-the-time-to-purchase-rental-property-or-not-]
He adds the best way to approach buying with the intention of renting is with long term investment goals in mind.
Easthorpe also explains the benefits of purchasing property in a new development in his conversation with the Business Hour. Listen below.
Tydens die Covid-19 pandemie het baie ondernemings wat kon, hul personeel tuis laat werk en ook hul bedrywighede aangepas, hetsy met ‘n verkorte werksweek of fleksie-ure. RAiN is die eerste ouditfirma in Suid-Afrika wat nou ‘n vier-dag werksweek implementeer. OFM Inhoudsbestuurder, Elzette Boucher-Krüger het met oudit bestuuder, Zelda Standing, gesels.
“Om groen te gaan” is nie net 'n leefstylneiging nie, dit is deurslaggewend vir volhoubaarheid in die landbou. OFM-inhoudredakteur, Elzette Boucher-Krüger, kom meer te wete by Daneel Rossouw, Funksionele Hoof Landbouverhoudingskanale by Nedbank.
Revix makes investing in cryptocurrencies effortless. Through their online platform, they offer several cryptocurrencies as well as ready-made crypto Bundles that act like the JSE Top 40 but for crypto. This is the more responsible approach to investing in crypto as you get diversified exposure to this emerging asset class.
South African businesses have welcomed government’s commitment to funding the Infrastructure Fund with R100 billion over the next ten years.
The Managing Director of Retail Capital, Miguel da Silva, says the country’s ailing infrastructure – specifically at the country’s ports - is in desperate need of a cash injection and this investment will bode well for the economy as a whole and small business in particular.
Speaking of SA’s ports, Justin Chadwick from the Citrus Growers’ Association, delved into the issues at the country’s ports and weighed in on how the alleged corruption at Transnet, outlined in the Commission of Inquiry into State Capture, has impacted the state of ports in the country.
Government plans directing R1.8 billion of this Infrastructure Fund towards bulk infrastructure, which will unlock seven private sector projects to the value of R133 billion.
“Several catalytic projects to the value of R21 billion are expected to start construction this year. Of this, R2.6 billion is contributed by the government, and the balance from the private sector and developmental finance institutions,” said President Cyril Ramaphosa in his State of the Nation address.
South African businesses have welcomed government’s commitment to funding the Infrastructure Fund with R100 billion over the next ten years.
The Managing Director of Retail Capital, Miguel da Silva, says the country’s ailing infrastructure – specifically at the country’s ports - is in desperate need of a cash injection and this investment will bode well for the economy as a whole and small business in particular.
Speaking of SA’s ports, Justin Chadwick from the Citrus Growers’ Association, delved into the issues at the country’s ports and weighed in on how the alleged corruption at Transnet, outlined in the Commission of Inquiry into State Capture, has impacted the state of ports in the country.
Government plans directing R1.8 billion of this Infrastructure Fund towards bulk infrastructure, which will unlock seven private sector projects to the value of R133 billion.
“Several catalytic projects to the value of R21 billion are expected to start construction this year. Of this, R2.6 billion is contributed by the government, and the balance from the private sector and developmental finance institutions,” said President Cyril Ramaphosa in his State of the Nation address.
The South African Chamber of Commerce and Industry’s (SACCI) Business Confidence Index of 94.1 in January 2022 is a reflection of businesses’ resilience and tenacity during tough times.
SACCI senior economist, Richard Downing, says the business community and certain parts of society have succeeded in keeping the economy going by providing private sector goods and services during tough times in the country’s economy.
Downing says in some instances, businesses in the country maintained services that actually should have been provided for by the public sector. This was seen via the filling in of pot-holes etc by local businesses.
According to Downing, the index is more or less at the same level as it was in January 2021. From then onwards it went on an upward trajectory in the early parts of the year and then it was set back by several events in the country including the July 2021 riots.
“We’re not in a good place. The economy is sluggish and business is working in a difficult environment as far as the economy goes, but business has a lot of tenacity and resilience to keep on going,” says Downing.
SACCI’s business confidence index is compiled of 13 sub-indices, which considers what is happening in the South African market and the local economy.
In his sit-down with the OFM Business Hour, Downing weighed in on the expectations ahead of the State of the Nation Address (SONA) on Thursday.
He says President Cyril Ramaphosa needs to address worsening service delivery in the country as well as the nation’s shrinking fiscus in his address.
“However ultimately the solution to all these problems is economic growth,” says the SACCI economist.
Are South Africans buying more local goods than before? Well the simple answer is yes.
This is according to the chief marketing officer at Proudly South African, Happy Makhumalo Ngidi, who says there is a visible change in attitudes towards home grown products and South Africans no longer believe that local products are inferior to international ones.
Ngidi, however, says more needs to be done to open up more markets for local producers and the team at Proudly South Africa are of the view that the ongoing world expo in Dubai will help do just that.
Interest from small and mid-size enterprises in South Africa around renewable energy generation systems are at a peak, as the country experiences rolling blackouts due to power supply constraints.
This is according to Managing Director of Retail Capital, Miguel da Silva, who tells the Business Hour that he and his team are observing increased applications for funding from small businesses aimed at going off the grid via the renewable generation systems.
It is estimated that it could cost a business anywhere between R 50 000 and R 250 000 to do this.
Despite these initial costs, Da Silva says it’s important for business to trade and generate revenue and the impact of blackouts impact the entire value chain, it’s not sustainable in the long run for businesses, hence the increased applications from businesses to go off the grid.
He argues it is going to be cheaper in the long run with looming 20,5% electricity tariff hikes proposed by Eskom in mid-December 2021.
Eskom implemented a first bout of load-shedding for 2022 in early February to prevent what it called a “catastrophic blackout” with CEO Andre de Ruyter noting the reason behind the blackouts as depleted water and diesel reserves.
“The water and diesel act as the buffer to prevent total system blackout - so it is necessary to replenish it,” says the power utility’s CEO.
Om jou landboubesigheid te laat groei, benodig jy die regte vennootskappe en ’n span landboukundiges wat hulself in jou sektor en besigheid verdiep. Nedbank se groter prentjie-benadering beteken om die mees geskikte en innoverende bankoplossings aan te bied om aan jou spesifieke behoeftes te voldoen. OFM-inhoudredakteur, Elzette Boucher-Krüger, kom meer te wete by Daneel Rossouw, Funksionele Hoof Landbou – Nedbank verhoudingskanale.
The Automobile Association’s petition to have the fuel price structure reviewed is gaining momentum, with nearly 25 000 citizens having signed on thus far.
The AA’s Layton Beard says February’s fuel price hike proves that the components of the fuel price needs to be reviewed as soon as possible.
Also read: Another blow at the pumps in February [https://www.ofm.co.za/article/sa/313020/another-blow-at-the-pumps-in-february]
The Department of Mineral Resources and Energy published the latest fuel price adjustments for February 2022, revealing that petrol will rise by 53 cents a litre, diesel will be up by 80 cents a litre, and illuminating paraffin by a whopping R1.01 cents a litre.
Acquiring residential property with the intention to rent out, has never been more affordable, with prices still at below market rates as a result of the Covid-19 pandemic. However, the rental market has taken a knock, with many citizens unable to afford paying rent presently as a result of the economy. Director of Kruger Attorneys and Conveyances, Louis Kruger, explains why he says you should make the investment, even though the returns may not seem worth it right now.
The CEO of the Black Business Chamber in the Free State, Lucky Motsamai, and Mosebetsi Dhladhla, Chairperson of the Black Management Forum in the Free State joined Nick Efstathiou on the OFM Business Hour to discuss an exciting business breakfast that will be hosted on the 31 January 2022. The core focus of this business breakfast is to ignite conversations and partnerships that can lead to exponential growth of the Free State economy.
The master of ceremonies will be Mr Will Choene from WN Capital, while the guest speaker will be Prof Bonang F. Mohale, author of ‘Behold The Turtle’. The panelist will include the MEC of the economic, small business development, tourism and environmental affairs Makalo Mohale amongst others.
For more information contact: Lucky Motsamai (CEO Black Business Chamber in the Free State) Phone Number: 066 204 5295 Email: ceo@fsbbc.co.za Website: www.fsbbc.co.za
Listen to Nick Efstathiou’s conversation below to find out more:
South African entities and businesses are being encouraged to direct more of their corporate social investment (CSI) spend towards rural based projects in the country as opposed to those solely in urban areas.
CSI consultant at Mamas Alliance, German More, tells the OFM Business Hour that he is of the view projects operating out of the rural areas are in much greater need of financial support than the urban ones.
This as South Africa’s CSI and non-government/profit organization sector continues to evolve – in part due to Covid-19.
More says charity as we know it is starting to fade away.
Companies are now looking for impact – a social return on their investment so to speak. He says companies are also no longer spreading their CSI spend across a multitude of programmes. They are seeking to support a single project with a high impact.
More acknowledges that while the Coronavirus pandemic may have expedited this change in approach from corporate entities on their CSI budgets, this change was already being witnessed prior to the pandemic.
More advises non-profit/governmental organisations seeking to attract significant investment from businesses to do the following: make sure they’re complaint; have profiles on the relevant platforms; have the right team; and show the possible impact to prospective investors.
Speaking of impact previously, OVC measure’s Chief Executive Officer (CEO), Meyer Conradie, emphasised the importance of measuring the numerical social impact of a project. Conradie said the Covid-19 pandemic has crippled many of these NPOs and with resources so scarce, the success of a project no longer hinges on “how many people have been helped” by dishing out food parcels, for example, but rather on the impact the food parcels have on the quality of life of the needy.
“Financial literacy is about understanding the concepts that relate to saving, investing and debt. And how it then allows you to make financially responsible decisions.”
This is according to Nomi Bodlani, the head of strategic markets at Allan Gray, who says financial literacy is an important key to financial freedom.
She was speaking on the OFM Business Hour, explaining how important it is in ensuring one achieves their money goals.
Bodlani says there is no shortage of information on the subject matter, her advice is that one must make sure that you’re finding credible information and resources.
“Look up topics, common misconceptions that prevent people from reaching their financial goals and seek the guidance of a financial advisor” is some of the advice she dispenses.
To hear more top tips on upping your financial literacy, listen below:
Die OFM Sake-Uur verwelkom met trots Nedbank Landboudienste as borg van die program. Ons gaan oor die volgende aantal weke hoor van kenners op verskeie gebiede ondermeer: transformasie, besigheidsgroei, volhoubaarheid, klimaatsveerkragtigheid, en digitale en e-handel. OFM Inhoudsbestuurder, Elzette Boucher-Krüger het met die Funksionele Hoof Landbou – Nedbank verhoudingskanale, Daneel Rossouw, gesels om meer uit te vind oor die instansie se planne vir transformasie in landbou.
The insurance industry benefits from the introduction of a system by government that aims to improve road safety in the country, but maintains that the system needs to be administered properly.
This is according to spokesperson for Old Mutual Insure, Lizo Mnguni, who was reacting to the North Gauteng High Court in Pretoria last week setting aside the Administrative Adjudication of Road Traffic Offences Act (Aarto) declaring it invalid and unconstitutional.
The applicants in the case – the organisation undoing tax abuse (outa) – as well as other parties like the Automobile Association of South Africa have said they are of the view the system is more of a system aimed at financial gains than the lowering of road carnages in the country.
Mnguni, however, tells the OFM Business Hour that improved road safety in South Africa translates to lower insurance premiums for vehicle owners.
Listen to Olebogeng Motse’s conversation below to find out more.
Increased institutional adoption – a movement led by established corporate giants – helped cryptocurrency leap into record highs in 2021.
This is according to the head of global payments at cryptocurrency platform, Luno, Louis van Staden, who says the change in attitudes towards crypto have been driven largely by engagements between governments, central banks and businesses with the aim of regulating the world of crypto.
JP Morgan, Fidelity and Goldman Sachs were amongst those established institutions that upped their crypto investments in 2021.
Van Stadens adds the South African government is also amongst those engaging crypto companies on the matter but that they’re adopting a pragmatic approach to regulation.
Whilst there are some who are not open to regulation, van Staden argues that it will ligitimise the industry by creating barriers to entry and thus letting only the best players in. He says regulation will also result in greater trust from the public noting that the listing of crypto currency companies on stock exchanges are showing that these companies are here to stay.
Despite these developments, members of the public who are interested in investing in cryptocurrency are being asked to exercise caution, do their research and be patient.
*Disclaimer: Any information herein is not intended nor does it constitute financial, tax, legal, investment, or other advice. Before making any decision or taking any action regarding your finances, you should consult a qualified Financial Adviser.
Good service doesn’t cost anything, it’s a state of mind says Gus van der Spek, developer of upmarket retirement village Wytham Estate. Van der Spek was saying this in reference to ways in which existing senior living centres and retirement villages can make their facilities more social. The AVIEW property developer, tells the OFM Business Hour, that the social element in retirement villages via knitting and bridge programmes, are an antedote to the isolation that senior citizens can feel in their later years – especially on the back of Covid-19. And it doesn’t have to cost much to add this social element.
Gus says the rising interest in retirement villages and senior living centres are a global phenomenon. He attributes this to the economic prosperity experienced by the baby boomer generation as well as advancements in medical technology that have seen the modern day elderly man/woman live longer. The modern day retiree needs this type of facility in their later years.
Previously van der Spek, was on the business hour to explain the differences between life rights and sectional titles.
According to him life rights “buys you the right to live in a home in a retirement facility and gives the holder of the right the security of tenure for the rest of their life”. He says life rights straddle a lease agreement and home ownership and as a result there are no transactional costs involved. Furthermore, there is a bouquet of services available in a life rite situation versus sectional title situation. He says sectional titles “refer to ownership of a unit within a complex or development. This differs from a full title, which is where full ownership rights, including the land upon which the property is built, are purchased”. There is a greater responsibility and as a result services levies need to be paid.
You can relisten to that podcast here on the sound of your life: https://www.ofm.co.za/article/business/304727/-ofmbusinesshour-sectional-titles-vs-life-rights-d
The Welkom based co-founder of popular sanitiser dispenser, SQ-easy wristbands encourages other start-ups to remain focused on their business goals and follow through with their ideas. Jolene de Sousa, tells the OFM Business Hour, that this is the prevailing lesson she acquired in the process of researching and developing the product.
It all started when de Sousa realised her school going son was not using the sanitiser she had placed in his school bag at the height of the Covid-19 pandemic. She started mulling over ideas for children that would ensure that their sanitiser would be easily accessed. Once she had the idea, she roped in two of her close friends and got the balling rolling on bringing the idea to fruition. Following a few months of research and product development – SQ-easy was birthed.
But was it that easy?
De Sousa says at the time of product development, she and her partners had to think hard if the venture was going to be worth their while, time and financial resources. “There was a backlog at the harbours with all the containers at the time. We wondered what the time delay would be” reveals the Welkom native candidly. The trio went on to take the risk anyway, and it paid off handsomely.
The product was received well and De Sousa ended up pitching the idea to mega retailer Checkers. She had arranged to present before the store manager, but was in for a pleasant surprise when the regional heads were in the city and she had to pitch to them at the last minute. The SQ-easy co-founder says she is so passionate about the brand that the presentation went swimmingly. And as a result the product is stored in shopping isles across the food retail giant’s outlets in the Free State and the Northern Cape. This latter collaboration with Checkers also taught her about the importance of brand awareness.
It would appear that there is still more on the horizon for SQ-easy.
Estate living is still ideal for South African home buyers, even in a tough economic climate. Former Olympian, shareholder and marketing director of the landmark Val de Vie Estate in the Western Cape’s Paarl valley, Ryk Neetling explained to the OFM Business Hour why estates are ideal for the modern South African family that seeks to prioritise safety whilst not compromising on a sense of community.
Fintech lenders in South Africa are continuing to lead the charge in filling in the funding gap for businesses in the country. The OFM Business Hour sat down with the Chief Executive Officer (CEO) and co-founder of Fundrr, Idan Jaan, on the rise of alternative funding models for small, medium and micro-enterprises (SMMEs) in the country. Jaan says the funding gap for startups in South Africa is born from the absence of a venture capitalist ecosystem. This ecosystem is very present and robust in more developed countries, which is why the startup culture is different in South Africa. He elaborates on how Covid-19 benefited Fintech lenders in the podcast below:
The Automobile Association of South Africa is calling on Finance Minister, Enoch Godongwana, to expedite the review of South Africa’s fuel price structure. The AA’s Layton Beard, says whilst they welcome Godongwana’s acknowledgement during his Medium Term Budget Policy Statement (MTBPS) aka the mini-budget speech in late 2021 that there is an issue with respect to the current fuel price structure, they stress that government needs to make quick work of reviewing said structure as well as carry out “an audit of existing prices in that structure” before the Finance Minister tables his 2022 budget. Beard says the current fuel prices must be the driving force for this process to be expedited.
The AA’s reaction comes after Minister of Mineral Resources and Energy, Mr Gwede Mantashe, this week announced that petrol is set to drop by between 68 and 71 cents a litre, with diesel down by between 67.8 and 69.8 cents a litre and Illuminating paraffin is set to decrease by 95 cents as of midnight on Tuesday, 4 January.
The Automobile Association of South Africa is calling on Finance Minister, Enoch Godongwana, to expedite the review of South Africa’s fuel price structure. The AA’s Layton Beard, says whilst they welcome Godongwana’s acknowledgement during his Medium Term Budget Policy Statement (MTBPS) aka the mini-budget speech in late 2021 that there is an issue with respect to the current fuel price structure, they stress that government needs to make quick work of reviewing said structure as well as carry out “an audit of existing prices in that structure” before the Finance Minister tables his 2022 budget. Beard says the current fuel prices must be the driving force for this process to be expedited.
The AA’s reaction comes after Minister of Mineral Resources and Energy, Mr Gwede Mantashe, this week announced that petrol is set to drop by between 68 and 71 cents a litre, with diesel down by between 67.8 and 69.8 cents a litre and Illuminating paraffin is set to decrease by 95 cents as of midnight on Tuesday, 4 January.
There are opportunists in the automotive market who are exploiting unsuspecting buyers in the used vehicles’ market as prices rise over the global semiconductor chip shortage. Spokesperson for Old Mutual Insure, Lizo Mnguni, tells the OFM Business Hour some of these opportunists are charging exorbitant prices for used vehicles that are not in great condition. Mnguni warns that now, more than ever, buyers need to ensure they look under the hood when shopping for a used vehicle whether privately or via a car dealership. He says one should insist on going for test drives to make certain that the car is in functioning order before you purchase it.
The global chip shortage which has been affecting the automotive industry since the onset of the pandemic could last way into 2022 and 2023, reports the BBC (https://www.bbc.com/news/business-58465954).
Mnguni explains that when global economic activity was halted as a result of the Covid-19 pandemic, chip manufacturers were unable to operate. The pent up demand for gadgets as many people were based home, didn’t help the situation says the Old Mutual Insure spokesperson. This has resulted in the prices for used vehicles rising, and this has an impact on your insurance premiums.
The OFM Business Hour sat down with retired educator turned author, Noah Kaindama, to get his thoughts on good leadership as outlined in his debut books: 'the Real President and its sequel the Real President II'.
Bheki Ngcobo from the Department of Employment and Labour breaks down the Revised Employer Assessment Model Regulation under the Compensation Fund to the OFM Business Hour.
North West University (NWU) Economics Professor, Waldo Krugell, weighs in on the latest GDP figures by Statistics SA, that indicate South Africa's economy shrank for the third quarter of 2021 - July to September.
The head of the Free State Department of Small Business Development, Tourism and Environmental Affairs (DESTEA), Mbulelo Nokwequ, speaks to the OFM Business Hour about the programmes the department is introducing to help boost tourism in the province.
Rising rates of cybercrime globally are posing a serious threat to online transactions in the real estate space. The OFM Business Hour, sat down with Jackie Smith, the head of Buyers Trust, which is a subsidiary of Ooba on how real estate agencies need to be cogniscant of how they handle clients’ personal information because cybercriminals are on the alert. Listen to more of the conversation below.
Attorney and founder of the Legal Affair, Nonhlanhla Mtshali, weighs in on the legality around this question on the OFM Business Hour. Mtshali’s expert opinion comes after the country’s labour court, deemed it ok for an employer to oust an employee for not strictly adhering to Covid-19 protocols. According to Businesstech, the employee was an assistant butchery manager and member of the butchery’s in house Coronavirus Site Committee at the time of the office and ultimate ousting. The employee was a Covid-19 contact and continued going to work despite exhibiting symptoms and knowing that he was indeed a contact of a Covid-19 positive fellow colleague, who at that point was hospitalised. He was chastised for endangering the lives of his colleagues and eventually fired.
The Installation of Professor Andrew M. Crouch as the second Vice-Chancellor and Principal of Sol Plaatje University took place on Friday, 26 November 2021, at the Sol Plaatje University Community Hall on South Campus in Kimberley.
The head of growth at leading South African Buy-Now Pay-Later (BNPL) fintech company, Payflex, Jarred Deacon, advises consumers to approach Black Friday with some pragmatism. Deacon suggests that you should “load your baskets before black Friday, keep them on in terms of your essentials and necessities. Once you have those in your baskets, you can take advantage of the price drops but only if they are within your budget. Try not to overextend yourself”. Deacon expands on what Payflex’s research has revealed about Black Friday consumer spending in his conversation with the OFM Business Hour team. Listen below.
The Mangaung Chamber of Commerce and Industry wants the metro’s by-laws to be relooked at in light of their unhappiness over rising rates and taxes. The chamber’s deputy president, Mzi Mboyana, tells the OFM Business Hour, that it is increasingly becoming unaffordable to run a small business in the metro, which includes Bloemfontein, Botshabelo, Thaba’ Nchu, Dewetsdorp, Wepener and Soutpan. Mboyana says it is time the government shows up and makes changes following the 1 November local government elections. Mboyana weighs in on other pertinent issues and shares some interesting plans the chamber has in the pipeline in his sit down with the OFM Business Hour team.
Transunion’s vehicle pricing index has found that there is a significant drop in prices for brand new vehicles in the third quarter of 2021 as compared to the same period in 2020. But this doesn’t mean one should purchase a new vehicle when they cannot necessarily afford the overall cost of owning and maintaining it.
TransUnion’s Vice-President and head of TransUnion Auto & Consumer Africa Kriben Reddy, says vehicle dealers and manufacturers are holding the prices of brand new vehicles back to up demand, this is despite a shortage of new vehicles internationally due to an ongoing lack of semiconductors and the Covid-19 pandemic. He says there is a threshold in which new vehicles can become unaffordable, hence prices being held back for them. The price of used vehicles on the other hand has increased due to a higher demand from consumers who are forced to shop for vehicles in the used market. This increased demand also means, there is now a shortage of used vehicles, hence the higher prices.
Previously on the OFM Business Hour Reddy told us that their latest Consumer Pulse Survey revealed that over 61% of households are feeling the burden of the Covid-19 pandemic on their pockets in 2021 as compared to over 80% in 2020, at the height of the pandemic. This means that more indebted South Africans are relying on credit just to get by. The shift towards used vehicles corroborates the housing survey.
Reddy says whilst there is still a heavy reliance on private vehicles due to South Africa’s unstable transport system, many options are coming to the fore. E-hailing services are becoming more sophisticated and there are more options for individuals who are more interested in mobility rather than the outright ownership of a car.
He stresses it’s important to factor in the overall cost of owning and maintaining a vehicle when seeking to purchase one. He says consider the prices of insurance, tyres and other maintenance related aspects.
The Presidential Employment Stimulus is now in its second phase and is supporting social employment as part of its portfolio of interventions to create jobs and support livelihoods. With the Industrial Development Corporation (IDC) as fund manager, a Social Employment Fund (SEF) has been launched and is seeking strategic implementing partners to create work that serves the common good in communities.
The initiative is also being championed by the Department of Trade, Industry and Competition. To find out more the OFM Business Hour, sat down with Project Manager at the Social Employment Fund, Bhavanesh Parbhoo.
To apply for the Social Employment Fund, email: SEFapplications@idc.co.za no later than 8 December 2021 at 17:00.
Visit www.idc.co.za/sef to access the application form and get detailed information on the fund’s Terms and Conditions.
Call 011 269 3466 for any further queries.
South Africa’s e-hailing sector is estimated to currently be employing between 80 000 and 100 000 drivers and/or motorcyclists countrywide, with more jobs to be generated in the next 3-5 years. The Chief Executive Officer (CEO) of youth employment engine, Lulaway, Jake Willis, tells the OFM Business Hour, that the industry anticipates that over the next 3-6 years the industry will end up employing 500 000 drivers overall – that means 400 000 jobs could be created in the next few years. Whilst these numbers do appear to be too optimistic, Willis says there is currently a shortage of drivers being experienced in the sector, meaning currently the demand outweighs the supply. He says whilst the boom in the e-hailing sector is occurring in the big metros, there is an increase in demand in unlikely places such as: Polokwane, Rustenburg, East London and Umtata.
According to Statista.com the sector globally is expected to grow at a compound annual growth rate of 32.8% between 2019 and 2025. Revenue growth in South Africa is projected to be slower at a compound annual rate of 11.2%, reaching a projected market volume of $1.068m (approximately R16.3bn) by 2025.
Willis also dispelled misinformation that e-hailing services don’t want to hire South African drivers, adding that due to the overlooked scooter culture, many citizens don’t have licences, making it difficult to for them to enter the food delivery market in particular.
The latest business news from Central SA. Presented by Olebogeng Motse and produced by Aaron Masemola.
The team at Endeavor South Africa believe empathy is behind the rise in jobs created at female driven tech businesses of late. Endeavor SA’s Antonia Bothner, told the OFM Business Hour that empathetic leaders are appealing to prospective talent and employees.
Not all contracts constitute service level agreements (SLAs). This is according to the head of technology, media and telecommunications law at Edward Nathan Sonnenbergs commonly known as ENS Africa, Ridwaan Boda. He first explains to the OFM Business Hour that a service level agreement (SLA) is an agreement between a service provider on the one hand and the customer on the other hand quantifying the minimum acceptable standards to the user. Boda emphasises that there must be certain key elements: a clear and granular description of services; services must be quantified and managed properly; and performance level obtained; amongst other requirements which he outlines in his sit-down on the sound of your life.
Online real estate auctions are gaining traction in South Africa. The Chief Executive Officer (CEO) of Galetti Corporate Real Estate, John Jack, tells the OFM Business Hour that South Africa is only now following in the line of more developed nations like the United States of America and the United Kingdom whose real estate auctions have long gone online, in light of the sizes of those countries. SA is now following suit in part because of Covid-19. Jack assures sceptics that online auctions are quite safe, and no transactions are taking place on the auction portal, just bidding. He gets into the benefits of online auctions in the conversation below.
Expectations are such that Finance Minister, Enoch Godongwana’s maiden Medium Term Budget Policy Statement since being shuffled into the role that was previously occupied by Tito Mboweni, will be positive and upbeat. This is according to North West University (NWU) Economics professor, Waldo Krugell, who was sharing his predictions pertaining to Godongwana’s mini-budget on the OFM Business Hour. Krugell says Godongwana is in a better position than his predecessor, Mboweni was when he tabled his budget in February 2021. Not only has the economy grown faster, but higher commodity prices have also bode well for South Africa. Krugell says ordinary citizens especially those on the lower end of the income scale will be looking out for assistance from the government via grants etc.
There is some expectation that Godongwana will weigh in on the issues affecting Eskom at present. This as Eskom Chief Executive Officer (CEO), Andre De Ruyter on Wednesday likened the power utility to a car that needs to be replaced not fixed. De Ruyter has blamed endless red tape as one of the reasons that is making maintenance at the utility challenging. “Current procurement methodology is not well suited to the running of large complex industrial enterprises like Eskom”. He has also criticized municipalities who are not playing their role in implementing load shedding at local government level. This has exacerbated the utility’s plethora of issues which include financial limitations.
OFM News
The Northern Cape Chamber of Commerce and Industry (NOCCI) is aiming to return to some resemblance of normalcy in the coming months following the disruption that was brought to the local economy by the Covid-19 pandemic. NOCCI Chief Executive Officer (CEO), Sharon Steyn, tells the OFM Business Hour, that this return to normalcy is evidenced by the addition of 50 new members during this challenging year. She shares some of the exciting plans in the pipeline for the chamber in late 2021/early 2022, which include the return of the business expo. Nocci has already hosted a golf day for its members, a sure sign that they are on the mend. Steyn remains perturbed however, by service delivery constraints, in the province, specifically in the Sol Plaatje Local Municipality under which Kimberley falls. She believes that the key to real tangible change in local governance lies not with politics, but with businesses rallying together and making that change themselves.
Neil Roets, hoof uitvoerende beampte van Debt Rescue, verduidelik waarom die woord "krisis" die energiesituasie in Suid-Afrika op die oomblik vir beide brandstof en energie die beste beskryf. Hy verduidelik ook of ons binnekort R20 vir petrol gaan betaal en gee raad aan verbruikers terwyl ons deur hierdie ongelooflike moeilike tye gaan.
The Chief Executive Officer (CEO) of Eskom, Andre De Ruyter, will not resign from his position, despite mounting calls for him to do so. De Ruyter said in a virtual media briefing on Tuesday afternoon that the power utility needs continuity from a leadership/management perspective and whilst it’s easy to cast blame on the utility alone, the reality is “we are where we are and therefore need to work together” to get out of this predicament. De Ruyter and the rest of Eskom’s management briefed the public on the latest developments regarding load shedding. They have announced that from Wednesday 5:00, the country moves to level 3 of load shedding till Friday, whereupon we move to level 2. It is expected blackouts will be phased out at the weekend.
De Ruyter has blamed endless red tape as one of the reasons that is making maintenance at the utility challenging. “Current procurement methodology is not well suited to the running of large complex industrial enterprises like Eskom”. He has also criticized municipalities who are not playing their role in implementing load shedding at local government level. This has exacerbated the utility’s plethora of issues which include financial limitations.
Load shedding implemented by the country’s financially strained power utility, Eskom, is killing local business one outage at a time. The Chief Executive Officer (CEO) of the Northern Cape Chamber of Commerce (NOCCI), Sharon Steyn, is the latest member of small business in the country to share this sentiment.
Steyn tells the OFM Business Hour, that unless local businesses have backup generators, they often are forced to close up shop and send employees home, losing a day’s worth of work and revenue. She says it’s unfair to assume that businesses must finance and source backup power because of Eskom’s failure to service the country even though citizens and entrepreneurs pay their rates and taxes. She says the end is nigh for Eskom and it is a matter of time before it is privatised.
Following some backlash, and calls for Eskom CEO Andre de Ruyter and the board to step down from their roles owing to the implemented load shedding, Eskom’s management held a virtual press conference on Tuesday afternoon in an effort to quell tensions. They have announced that from Wednesday 5:00, the country moves to level 3 of load shedding till Friday, whereupon we move to level 2. It is expected blackouts will be phased out at the weekend.
World Health Organisation (WHO) Immunization officer and healthcare expert, Dr Messeret Shibeshi, has lauded the private sector’s contribution to the overall fight against the Covid-19 pandemic, but stresses more could be done. Shibeshi was on the OFM Business Hour to delve into the socio-economic ills that have been born/exacerbated by the Covid-19 pandemic. She shares that not only did Covid-19 destroy livelihoods and businesses across the globe, but we also saw socio-economic ills on the African continent deepen. This was evidenced in the inequality in vaccine distribution especially in third world countries an issue that has been highlighted by President Cyril Ramaphosa, who formed part of the call for first world countries whereupon these vaccines are made to not hog the jabs. Shibeshi says whilst the private sector did its bit by helping governments purchase vaccines, protective gear and beef up healthcare infrastructure where needed, it’s still not enough and more could be done.
The temporary assignment of radio frequency spectrum in 2020 was a pressure test for mobile network operators. The Chief Operating Officer (COO) of TNJ Project Solutions, Nash Manyozo, tells the OFM Business Hour, that mobile operators who could withstand the pressure that came with remote working and home schooling as a result of the Coronavirus pandemic emerged financially successful and ready for the dawn of the fourth industrial revolution, whereas those who did not lost favour with South Africans who needed fast internet for virtual meetings, looming work deadlines and school projects. Manyozo is of the view that presently the African continent is not making the most of the digital wave, adding that there is space for greater improvement.
Manyozo’s insights come as tensions between the Independent Communication’s Authority of South Africa (Icasa) and some mobile operators reach at an all-time high over the spectrum auction process. Not only has the auction date itself been pushed back to March 2022 – a year after it was supposed to have initially taken place – but it appears that an impasse has now developed between Icasa and the operators of the temporary assignment of the radio frequency spectrum.
For context’s sake temporary spectrum was assigned in April 2020 as South Africa entered a State of National Disaster on the back of an outbreak of Covid-19 in the country. Icasa has now set a deadline for operators to return spectrum assignments – being 30 November. This deadline has resulted in another court bid against the regulator.
According to Reuters the country’s biggest mobile networks are the ones behind the lawsuit namely: MTN, Vodacom and Telkom.
The Automobile Association (AA) will approach parliament to find out why the Department of Mineral Resources and Energy’s announcement on record high petrol prices was kept to the last minute on Election Day. On Wednesday already financially strained South Africans started paying R 1, 21 a litre for petrol, R 1, 48 a litre for diesel and R 1, 45 a litre in paraffin. The announcement was reportedly made by the aforementioned department late on Monday evening as many citizens approached the final hour of voting on Election Day. The AA is of the view that the release was delayed to protect the “incumbent government” from any backlash. According to the AA the statement from DMRE was slated for release on 28 October but was only issued on 1 November. Spokesperson for the AA, Layton Beard got into the impact of the fuel price on burdened South Africans on the OFM Business Hour.
The buy now, pay later movement on etailers was born from the traditional lay-bye. The Chief Executive Officer (CEO) and co-founder of Spot Money, Andre Hugo, tells the OFM Business Hour that this is what inspired the partnership between themselves and Payflex. Hugo warns that that even though the buy now, pay later method is attractive, it’s important that consumers can afford the item that they want to purchase.
Charleen de la Hunt, van 'n onafhanklike advokaatfirma, Innovation Legal, verduidelik of ongeënte mense in die werkplek toegelaat moet word, as dit die risiko verhoog om hul medewerkers te besmet. Sy verduidelik ook wat is die implikasies as infeksies in jou werkplek versprei en sy bespreek ook of 'n werkgewer kan aandring dat hul werkers die inenting kry.
Kenya has proposed anti-counterfeit recordation regulations that are set to up the ante on the country’s war on rampant counterfeit goods. OFM Business Hour, spoke to ENS Africa’s Mahesh Acharya to find out more on the regulations. The executive anticipates the regulations will be implemented before the end of 2021.
OFM Inhoudsbestuurder, Elzette Boucher-Krüger gesels met Louan van Rooyen, hoof-aktuaris by Besigheidsversekering, OUTsurance
Vaccination levels are at the centre of the difference in the recovery of commercial real estate in first world cities versus third world ones. This is according to the Chief Executive Officer of Galetti Corporate Real Estate, John Jack, who was on the business hour to speak on the rising trends in South Africa’s commercial real estate. Whilst he acknowledges that we are seeing more and more employees returning to work, concerns are still high over a possible fourth wave, forcing many businesses to create “smaller offices within a single office” to reduce interaction between colleagues. He says first world countries are back to normal essentially, and this is evidenced in retail and events running as normal. Jack also explained the rise in mix-use real estate.
Many of us have watched one or two YouTube videos in which content creators reveal they left their 9 to 5 jobs opting instead to create content full time and essentially become “online entrepreneurs”. Whilst content creation for many who loathe the idea of working for a boss or working 8 hours a day seems like the ideal working situation for millennials or Gen Z’s, North West University (NWU) Economics Professor Waldo Krugell, says one should err on the side of caution when considering being a part of the digital/creative economy.
Krugell tells the OFM Business Hour, that research has found that the distribution of income in the digital economy is unequal. With the “superstars” of the content space out earning everyone else significantly. The NWU Economics Professor says this is due in the main to the nature of the product. Online platforms’ algorithms are more likely to recommend already popular content to users, thus creating these digital superstars.
These platforms don’t charge users any fees for availing their content to the public but they use viewer numbers to lure advertisers, which is where they generate their revenue.
Now Krugell isn’t discouraging you from becoming a content creator, he says make sure that you have a unique idea that will draw viewers organically to your pages. He makes mention of a viral Johannesburg-based Mozambican musician who writes gossip songs at the behest of a client about a relative or friend etc and distributes these songs on WhatsApp. This is how the man earns a living.
Irrespective of how you feel about it, Krugell says the digital economy will continue to be around for as long as the internet is.
So shoot your shot at content creation, but do your research first before quitting your day job.
Finansiële adviseur, Marius Ferreira, verduidelik hoe beinvloed die verandering van jou werk jou finansiele beplanning as jy jou werk verander en verduidelik waar jy al die inligting van jou groeps voordele kan keer. Hy bespreek ook wat is die moontlike nagevolge as jy nie jou persoonlike dekking hersien wanneer jy jou werk verander nie.
Collaborative efforts are the key to helping non-profit organisations (NPOs) get through tough times financially amidst budget cuts for the private sector’s corporate social investment projects. The Executive Trustee and Co-Founder of the Nation Builder Trust, Keri-Leigh Pascal tells the OFM Business Hour that as a result of limited resources, NPOs are leaning on one another to make up for the deficit.
The steep fuel prices that have been predicted by the Automobile Association (AA) for the end of October are set to put a further dent in the pockets of burdened South Africans. According to the North West University (NWU) Professor, Waldo Krugell, consumers are really struggling with the fuel price increases and this is evidenced by the latest inflation figures released by Statistics South Africa (Stats SA) on Wednesday which show September inflation increased slightly to 5% from 4.9% in August. Krugell further says the effects of this petrol price increase will trickle down to other expenses causing further burden on citizens.
Is there a rising market for luxury senior living property developments? Well the OFM Business Hour spoke to Director at Collins Residential, Murray Collins, to find out more:
Some good news for South African cane growers who were brought to their knees by violent riots in Kwazulu-Natal and Gauteng in July 2021. On Tuesday the Minister of Trade and Industry, Ebrahim Patel, announced that government via the National Empowerment Fund (NEF) and the Industrial Development Corporation (IDC) has approved applications amounting to R1.5 billion in relief for businesses that were ravaged by the July riots. The country’s cane growers are amongst those receiving this relief. Chairperson of the South African Canegrowers Association, Andrew Russell, confirms they will be receiving R 85 million from the IDC. Russell explains that the cane that had been burned when the looting and vandalism took place, deteriorated as mills continued to remain closed in July. The cane deteriorated to such an extent that it was no longer “millable” and many cane growers were turned away by mills due to the poor quality of the cane at that stage. It was estimated that R 84 million was lost as a result of the riots, by an industry that was already battling the effects of drought, imports of low value sugar into the country and the introduction of the health promotion levy a.k.a the sugar tax in the last few years. Russell says they will be disbursing the funds from the IDC via the existing Umthombo Retention Savings Account. The roughly 192 cane growers that are said to have been affected will need to present the rejection letters some of them received from the sugar mills following the riots. The funds will also be disbursed according to how much they need to re-establish their crops. Russell explains that the first R 1 million is a grant and anything above that becomes a low interest loan.
South Africans are being warned to brace themselves for some record breaking hefty fuel price hikes come end of October. The Automobile Association (AA) recently released its latest predictions for fuel price adjustments for this period describing it as “catastrophic” for citizens.
AA spokesperson, Layton Beard, says petrol may go up by 99 cents a litre, and diesel and illuminating paraffin may rise by a whopping R1.42 a litre. This will push 95 ULP inland above R19/l (close to R19.30/l), and R17/l for diesel. “Taking this potential increase into account, the price of a litre of fuel inland (95 ULP) will have increased from R14.86/l in January to R19.30/l in November – a 30% increase over 11 months” says Beard.
Now the association attributes their predictions to brent crude breaking through the 85 US dollars per barrel mark. Bear in mind that these figures are based on half a month's data, and are subject to changes come end of October. The OFM Business Hour will keep an eye out on this development.
The Free State Black Business Chamber (FSBBC) has added its voice to calls for South Africa’s stringent labour legislation to be relooked. The chamber’s Chief Executive Officer (CEO), Lucky Motsamai, says the legislation as is, is hampering small businesses from thriving. He makes specific mention of the country’s controversial minimum wage. Now as of 1 March 2021, the minimum wage per hour is R 21,69, which Motsamai deems to not be feasible especially for startups, which were brought to their knees as a result of the Covid-19 pandemic.
Motsamai, also spoke on elections adding that businesses are keeping a watchful eye over the outcome thereof. He says presently businesses in the province are being held back by local municipalities’ financial dysfunction in two ways. The first is with respect to business opportunities that are not being availed by the municipality via supply chain to businesses in need; and the second is as a result of service delivery constraints such as poor infrastructure, water issues amongst others making it difficult to run a business effectively. Motsamai says it is critical for municipalities to start performing financially, to help businesses still in their infancy stage, to rebuild.
“This election is occurring against the backdrop of high unemployment, low growth, poverty, and a skewed economic structure. We really need this election to be one that actually delivers,” says Motsamai. The FSBBC CEO says that it is businesses that are less than five years into operation that are struggling most to get by presently.
The issue of poor service delivery and its impact on an area’s economy came under public scrutiny during Clover’s much-publicised exit from Lichtenburg to Queensburgh near Durban in KwaZulu-Natal due to service delivery challenges on the part of the Ditsobotla Local Municipality.
Professor, Nelda Mouton, from the North West University (NWU) Business School tells us about the post graduate diploma in management.
South Africa will get through its present socio-economic challenges through resilience and a sense of community. These are the words of Sebastiaan Messerschmidt, Consul General at the Netherlands Consulate in Cape Town who was on the OFM Business Hour to speak on the insights made at the annual #cocreateDESIGN festival which took place in September. Messerschmidt says the country’s resilience lies in its informal economy, because that is where you see impoverished communities coming together, to help find solutions. Now Statistics South Africa’s 2019 report on the country’s informal economy estimates that the sector contributed about 6% to the GDP in 2017. It is also believed that this same sector provides jobs to about 60% of the world’s employed population.
Now the fourth annual #cocreateDESIGN FESTIVAL is a collaborative public event that runs from 20-23 September 2021 and consciously gathers together a diverse range of people to dissect South Africa’s biggest challenges. Messerschmidt says the event was not as highbrow as people expect because they want to engage the people hardest hit, irrespective of their education level.
Finansiële adviseur, Marius Ferreira, verduidelik watter faktore speel ‘n rol wanneer jy jou behoeftes vir risiko versekering wil bepaal. Hy bespreek ook watter faktore of gebeurtenisse jou risiko behoeftes sal beinvloed en wat jy kan doen as jy nie al die dekking volgens jou behoefte bepaling kan bekostig nie.
Shaun Rademeyer, verduidelik wat eintlik 'n eiendomsstokvel is en 'n paar van die hoofdoelwitte van 'n eiendomstokvel. Hy verduidelik ook 'n paar van die belangrikste geleenthede of voordele van 'n eiendom Stokvel en wat is die belastingimplikasies daaraan verbonde. Uiteindelik, deel hy 'n paar wenke as jy belangstel in 'n eiendomsstokvel.
In June 2021, Swedish company, Oatly, unsuccessfully dragged an unknown United Kingdom (UK) based family company to court over the latter’s oat drink called Pure Oaty. Oatly – now the world’s largest oat drink producer – accused Glebe Farm Foods in the UK, of trademark infringement and ‘passing off’. ENS Africa’s Gaelyn Scott tells the OFM Business Hour, that Oatly’s decision to sue a smaller and less known company like Glebe Farm Foods has serious ramifications on the celebrity endorsed company’s reputation, with some on social media accusing Oatly of bullying. Not only did the Swedish company lose in the court of public opinion, but they lost their case against Glebe Farm Foods, with the presiding judge ruling that the similarities between Pure Oaty and Oatly were minimal and superficial at best. Scott breaks down the case further below.
The acceleration of ecommerce doesn’t quite signal the end of the traditional in-person retail store. Head of Sales at XLink, Celine Thungaveloo, stresses that this doesn’t mean that not embracing migration to online shopping in favour of the in-person experience will bode well for one’s business. Thungaveloo says having a physical store front alone isn’t enough and needs to be done with a presence online.
The 2021 South African Digital Customer Experience Reports found that the ecommerce industry is estimated to be leaving about R 30 billion per year in revenue on the table. High shipping costs and cumbersome processes were identified as two of the biggest reasons why customers are abandoning shopping at the last minute. Thungaveloo believes the solution to this is omni-channel ecosystem of technological partners is the key to these issues.
Healthy body, healthy mind... It is said that we feel emotions in our bodies. If you experience stress at work, and let’s be honest, midst a global pandemic, we are all more stressed than usual, regardless of our jobs, you need to offset that tension not only through mental stimulation but also healthy diet, regular and the right kind of exercise and sleep.
To find out more, Mio Khondleka, from OFM’s sister station Algoa FM, spoke to Dr Konrad Van Staden, one of the practitioners involved in the “RESURGENCE THROUGH NATURE BY MANTIS” is a nature-based wellness programme for high-functioning executives developed to prevent mental and physical exhaustion, and to treat stress and fatigue.
If you know a colleague who is fatigued or burned out, visit ofm.co.za, click on competitions and nominate them for a chance to win a 6-day Lifestyle Enrichment programme to the value of R90 000 - designed to treat and prevent executive burnout. It could be a front-line worker, teacher, executive, entrepreneur or someone in management. Anyone you know who would benefit from this revitalising programme.
Let Mantis’s boutique hospitality combined with medical expertise headed by clinical psychologist, Konrad van Staden, lead the way in identifying and treating mental burnout associated with high-demand occupations.
Enter them now - visit ofm.co.za, click on competitions and then "Win with Resurgence through Nature with Mantis".
Manie van Schalkyk, CEO of SAFPS (Southern African Fraud Prevention Service), verduidelik wat gebeur het met die Departement van Geregtigheid wat onlangs aangekondig het dat dit 'n slagoffer was van 'n kuberaanval sowel as African Bank. Hy bespreek ook wat die Suid -Afrikaanse wet sê oor kubermisdaadgevalle en of kubermisdadigers vervolg is.
Pieter du Plessis van GUDGU, verduidelik wat is die belangrikste elemente wat entrepreneurs nodig het om te onthou wat anders is as om jou besigheidsidee persoonlik voor te lê. Hy bespreek ook die geheime formule vir 'n suksesvolle onderneming.
The South African Revenue Service (Sars) is determined to raise enough taxes to reach the country’s expenditure needs and aim to make use of third parties to do so. This is according to ENS Africa Director, Mansoor Parker, who was unpacking the country’s tax gap on the OFM Business Hour following the 2021 tax indaba which took place between 20 and 22 September and focused heavily on said matter. Sars like other revenue services worldwide is seeing a significant disparity between the amounts of tax paid to it as opposed to the amounts that ought to have been paid to it a.k.a the estimated revenue from taxpayers. This is what is known as the tax gap.
The key to being good with your money is honesty especially regarding your spending habits. This is according to GCI Wealth Manager, Natasja Hart, who was on the OFM Business Hour, to speak on what good debt is as compared to bad debt. Hart says good debt tends to be an investment for your future i.e. education loan or a home loan. She says bad debt tends to be more short-term for instance using a credit card or clothing account to making short lived purchases. With respect to saving, the GCI Wealth Manager concedes that South Africans are not saving enough and the situation has been exacerbated by Covid-19 and the accompanied job losses/salary cuts. Her advice when it comes to saving money is that “it’s the cents that make the rands”, so start small if need be. It’s all about knowing what you have and allocating money accordingly.
Listen more below:
The cyclical nature of both the mining and agriculture industries places businesses in these industries at risk of being hardest hit by the draft 2021 tax bills which seek to restrict assessed losses for SA businesses. Director at ENS Africa’s tax division, Kristel van Rensburg, explains that the amendments will result in a change in section 20 of the Income Tax bill, limiting assessed losses that can be carried over to 80% of a business’s taxable income. Van Rensburg says not only does this stand to hurt limping businesses on the back of Covid-19, but it also stands to disadvantage cyclical industries that require lots of investment and time to start reaping rewards. Listen further below.
Frank Mac NICOL, Nationale Voorsitter van ARA (Automotive Remanufacturers’ Association), verduidelik hoe kan gas-omskakeling n voordeel wees vir motoriste en ook hoe bekostigbaar is LPG – Liquified Petroleum Gas. Hy bespreek ook of enige werkswinkel n voertuigkan ombou vir gas.
Often times when we speak of the impact of Covid-19 on businesses we focus on halted trading. Rarely do we speak on the disruption the death of an executive or a strategic partner has on the day-to-day activities/functioning of a business. Rose Nkhasi, the President of the Free State Goldfields Chamber of Business, laments that this was one of the many challenges that businesses in Welkom and surrounding areas faced as a result of the pandemic. She says many businesses saw a break in strategic flows following the death of a key partner/figure due to the absence of a hand over process due to a sudden passing. She says despite this, a lack of funding to keep businesses afloat and halted trading due to lockdown regulations, local businesses are powering through via close collaboration. As a result many are re-emerging from the tough times and are rebuilding their enterprises. The chamber which is headquartered in Welkom is tentatively planning a business breakfast for its members, as we approach the end of the 2021 year.
Healthy body, healthy mind... It is said that we feel emotions in our bodies. If you experience stress at work, and let’s be honest, midst a global pandemic, we are all more stressed than usual, regardless of our jobs, you need to offset that tension not only through mental stimulation but also healthy diet, regular and the right kind of exercise and sleep.
To find out more, Mio Khondleka, from OFM’s sister station Algoa FM, spoke to Dr. Konrad van Hagen, one of the practitioners involved in the “RESURGENCE THROUGH NATURE BY MANTIS” is a nature-based wellness programme for high-functioning executives developed to prevent mental and physical exhaustion, and to treat stress and fatigue.
If you know a colleague who is fatigued or burned out, visit ofm.co.za, click on competitions and nominate them for a chance to win a 6-day Lifestyle Enrichment programme to the value of R90 000 - designed to treat and prevent executive burnout. It could be a front-line worker, teacher, executive, entrepreneur or someone in management. Anyone you know who would benefit from this revitalising programme.
Let Mantis’s boutique hospitality combined with medical expertise headed by clinical psychologist, Konrad van Staden, lead the way in identifying and treating mental burnout associated with high-demand occupations.
Enter them now - visit ofm.co.za, click on competitions and then "Win with Resurgence through Nature with Mantis".
The Covid-19 pandemic has changed everything and made all the things we used to gloss over like travel insurance, all the more important. Old Mutual Insure Spokesperson, Christelle Colman, tells the OFM Business Hour how important travel insurance is and gets into other precautions prospective travelers must take when considering that holiday abroad.
South Africa’s tourism sector lost an estimated R164 billion in spending by domestic and inbound visitors to the country in 2020 because of the Covid-19 pandemic. Blessing Manale, the spokesperson for the Tourism department, discusses some of the major challenges that the tourism sector has been facing over the last 18 months and highlights some of the positives throughout the covid-19 pandemic. He also discusses why it is so important for South Africans to travel locally and why ramping up the vaccination drive is essential for the survival of the sector and various small businesses.
Marius Ferreira, finansiële adviseur, verduidelik waarom dit so belangrik is om vir jou aftrede te beplan en hoe jy so gou as moontlik vir juu aftrede kan begin beplan. Hy bespreek ook of jy jou aftreeplan moet aanpas, en of daar iemand is wat jou kan help met die ingewikkelde berekening van jou aftreplan.
The latest published regulations pertaining to the Promotion of Access to Information Act (PAIA) places more responsibilities on information officers’ already burdened shoulders. According to Era Gunning from ENS Africa’s Banking and Finance Department these new PAIA Regulations, among other things, places a duty on the Information Regulator to publish a guide containing such information, in an easily comprehensible form and manner. Gunning tells the OFM Business Hour that Information officers are obliged to have a copy of the guide, in at least two of the official languages, at their registered head offices, for public inspection during normal office hours. In addition an information officer must make available a copy of the guide, at no charge, upon the written request of any person on a prescribed form. She says the penalties for not doing so are severe and include a possible jail time.
Mariena Cloete, Ooba huisleenings spanleier, verduidelik wat is die huidige goedkeuringskoerse vir huislenings en hoe belangrik dit is om soveel as moontlik te spaar vir 'n deposito. Sy deel ook 'n paar wenke wat jou kan help om jou huislening goedgekeur te kry.
Setting up your will alone isn’t enough with respect to real estate planning. You also need to review said will annually to accommodate changes in your life. This is according to Coreen van der Merwe, the Director of Sovereign Trust SA Limited who was on the OFM business hour to speak on the importance of planning out your will before it is too late. According to the Master of High Court, over 70% of working South Africans do not have wills in place. With National Wills Week now well and truly behind us, the conversation around estate planning will fall to the back burner, but the reality is it shouldn’t. Not planning your estate could result in you dying intestate with your assets landing in the hands of those you did not intend on handing them to.
According to a 2017 study, conducted by SADAG on ‘Mental Health and Stigma in the Workplace’, 72% of the surveyed people said that mental illness was affecting their work performance and that their attempts to seek an understanding from their superiors were generally futile since 69% of them displayed indifference and a negative attitude (www.sadag.org). However it is reported that Covid-19 is changing these attitudes. Well on the OFM Business Hour tonight, Mio Khondleka, from OFM’s sister station Algoa FM, spoke to Dr Emrie Van Staden one of the practitioners involved in the “RESURGENCE THROUGH NATURE BY MANTIS” is a nature-based wellness programme for high-functioning executives developed to prevent mental and physical exhaustion, and to treat stress and fatigue. In their conversation she explains what her role is in the programme. If you know a colleague who is fatigued or burned out, visit ofm.co.za, click on competitions and nominate them for a chance to win a 6-day Lifestyle Enrichment programme to the value of R90 000 - designed to treat and prevent executive burnout. It could be a front-line worker, teacher, executive, entrepreneur or someone in management. Anyone you know who would benefit from this revitalising programme. Let Mantis’s boutique hospitality combined with medical expertise headed by clinical psychologist, Konrad van Staden, lead the way in identifying and treating mental burnout associated with high-demand occupations. Enter them now - visit ofm.co.za, click on competitions and then "Win with Resurgence through Nature with Mantis".
The Covid-19 pandemic has brought mental health/wellness in the workplace under intense scrutiny. Marketing Director at Infection Products, Annette Devenish, tells the OFM Business Hour, that she doesn’t believe enough is being done to prioritize mental health in South Africa, even though Covid-19 has made us more tolerant and empathetic in the workplace. A 2017 study on mental health and stigma in the workplace by the South African Depression and Anxiety Group (Sadag), found that 72% of people surveyed said that mental illness was affecting their productivity and work performance and revealed that attempts to seek assistance and understanding from superiors in the workplace was ineffective. Some reported a general indifference and negative attitude towards ‘mental illness’ by employers/superiors. These attitudes appear to be changing albeit slightly on the back of Covid-19 induced trauma. Devenish emphasizes the importance of exercising self-care in such instances and believes this is doing things that bring you joy and prioritize your health i.e. exercise, sleep or reading.
Attie Serfontein, Nationale Direkteur van ARA (Automotive Remanufacturers' Association), verduidelik waar het die gas-omskakeling projek vir ARA begin en hoekom dit so noodsaaklik is. Hy verduidelik ook die geleenthede wat voorlê ten opsigte van werkskepping en verduidelik of die wêreld genoeg gasreserwes het.
OFM Business Hour’s Olebogeng Motse talks to Dineka Lephowani about the Flamingo Route, one of five Free State routes that are named after popular South African animals and birds. The Route offers a range of attractions to make your holiday memorable…
The Flamingo Route runs through the Lejweleputswa District, an important agricultural and gold-producing area. This combination makes for a variety of leisure activities – exploring a local gold mine, viewing game, and visiting key historical sites. For lovers of the fast lane, the Free State’s own Phakisa Freeway Race Track in Welkom is a must-see. Still in Welkom, the Gold Museum showcases the fascinating history of gold mining.
The small town of Bothaville is famous for the world’s second largest private agricultural show, the NAMPO Harvest Festival, which is held each May.
If you’re looking for a fun family outing, visit the popular Aldam Resort or the Willem Pretorius Game Reserve overlooking the Allemanskraal Dam. Tourists can enjoy boating, fishing and water-skiing on the Sand River, or hiking and birdwatching along the river banks.
The oldest proclaimed town in South Africa, Winburg, is home to the Free State’s Voortrekker Monument and the Voortrekker Museum.
Another interesting piece of history is the Florisbad archaeological site at Soutpan, 45km from Brandfort. See where the skull of a 260 000 year-old hominid and other fossils were found, then visit the renovated Florisbad Resort for some R&R.
Discover the Free State is made possible by the Free State Gambling, Liquor and Tourism Authority.
Listen to the full podcast with Dineka Lephowani below:
South Africans can breathe a short sigh of relief as the Reserve Bank’s Monetary Policy Committee (MPC) has decided to keep interest rates on hold again this year. Reserve Bank Governor, Lesetja Kganyago, says the decision to keep the repurchase rate which is the rate at which commercial banks lend money from the Reserve Bank, at 3,5% was a unanimous one by the committee. This in turn means the prime lending rate for citizens from commercial banks remains at 7%. The decision comes on the back of improved domestic economic growth in the second quarter of 2021 and higher commodity prices that have helped the mining sector soar. Kganyago says the Reserve Bank has also revised the country’s economic growth for this year up to 5.3% from 4,2% despite the effect the riots in Kwazulu-Natal and Gauteng had on economic activity. “Although policy settings in advanced economies remain accommodative, the spread of the Delta variant, higher global inflation, and uncertainty about the normalisation path for interest rates continue to cause financial market turmoil and capital flow volatility. Risk aversion persists where economies fail to take advantage of improved global prospects or to reduce large macroeconomic imbalances”. Despite these concerns as well as rising inflation figures the MPC is of the view that “the risks to the medium-term domestic growth outlook are assessed to be balanced, as most of the bounce back from the recovery is now in the past” explains Kganyago.
North West University (NWU) Waldo Krugell tells the OFM Business Hour that the Reserve Bank is in a precarious position. He says in the end it’s not a matter of if the repo rate will rise but rather a case of when. And this will depend on inflation levels in the United States as opposed to those in South Africa.
Marius Ferreira, finansiële adviseur, verduidelik wat is die verskillende behoeftes waarvoor jy moet beplan en wanneer is die beste tyd om te begin beplan vir jou finansiele toekoms. Hy verduidelik ook hoe beinvoed veranderinge in jou persoonlike en professionele lewe jou behoeftes.
When the United Kingdom updated its international travel rules at the top of this week, South Africa remained on the red list despite intensified vaccination efforts on the part of government. This development has caused quite the stir in South Africa with many lamenting that this is going to hurt the country’s tourism sector during the warmer months of 2021. Now a placement on the UK’s red list means that if a traveller has been to South Africa in the last 10 days, they will only be allowed to enter the UK if they are a British or Irish national, or if they have residence rights in the UK.
Concerns are that this situation will deter UK citizens from travelling to the country because of these cumbersome processes. However the General Manager of King Shaka International Airport responsible for Client and Passenger Services, Azwifaneli Mphaphuli, tells the OFM News that it is in fact domestic tourism that can help stimulate this sector again. Mphaphuli says the Airports Company of South Africa (ACSA) has introduced several safety related measures at all its airports to ensure that travellers are safe when journeying to their next destination. Mphaphuli’s comments help shift the conversation away from the UK to how can South Africans help the tourism industry come alive again as we edge closer to the festive season.
According to figures released by Statistics South Africa (Stats SA) in April 2021 foreign arrivals into South Africa dropped by 71% from just over 15,8million in 2019 to less than 5 million in 2020. The overall number of travellers decreased by 50,7% over a 15-year period from nearly 24,6 million recorded in 2006 to 12,1 million travellers recorded in 2020. An indication that the tourism industry is still limping. Mphaphuli on the other end believes the tide is changing and SA will recover.
Dr. Francois Stofberg, Senior Economist at the Efficient Group, discusses which industries contributed the most to the recent growth in GDP. He also discusses how the record high unemployment level in SA have impacted our GDP for the second quarter of 2021 and some of the other hurdles that we are currently facing as we strive for continuous economic growth.
The OFM Business Hour’s Olebogeng Motse talks to Keakabetse Ramokonopi about the Lion Route, one of five Free State routes that are named after popular South African animals and birds. The Route offers a range of attractions that will make your holiday memorable…
If you want a taste of everything that is typically “Free State”, the Lion Route has it – from culture to nature and history.
The small town of Vredefort is the gateway to the world’s oldest and largest crater, the Vredefort Dome. A World Heritage Site, the 300km-wide crater was created when a meteorite the size of Table Mountain struck the earth 2000 million years ago. Situated on the wall of the Vaal Dam, Deneysville is just an hour’s drive from Johannesburg. Known as SA’s “Inland Riviera”, Deneysville is famous for watersports; the annual Round the Island Yacht Race – South Africa’s biggest inland regatta; and the Deneysville Croc Ranch.
The beautiful town of Parys is situated on the banks of the Vaal River, and has become a firm favourite for both art and adventure lovers. You can even do some wine tasting at Ponte Vaal and on the Riemland Wine Route.
Discover the Free State is made possible by the Free State Gambling, Liquor and Tourism Authority.
Listen to the full podcast with Keakabetse Ramokonopi below:
Healthy body, healthy mind... It is said that we feel emotions in our bodies. If you experience stress at work, and let’s be honest, midst a global pandemic, we are all more stressed than usual, regardless of our jobs, you need to offset that tension not only through mental stimulation but also healthy diet, regular and the right kind of exercise and sleep.
To find out more, Mio Khondleka, from OFM’s sister station Algoa FM, spoke to Dr. Konrad van Hagen, one of the practitioners involved in the “RESURGENCE THROUGH NATURE BY MANTIS” is a nature-based wellness programme for high-functioning executives developed to prevent mental and physical exhaustion, and to treat stress and fatigue.
If you know a colleague who is fatigued or burned out, visit ofm.co.za, click on competitions and nominate them for a chance to win a 6-day Lifestyle Enrichment programme to the value of R90 000 - designed to treat and prevent executive burnout. It could be a front-line worker, teacher, executive, entrepreneur or someone in management. Anyone you know who would benefit from this revitalising programme.
Let Mantis’s boutique hospitality combined with medical expertise headed by clinical psychologist, Konrad van Staden, lead the way in identifying and treating mental burnout associated with high-demand occupations.
Enter them now - visit ofm.co.za, click on competitions and then "Win with Resurgence through Nature with Mantis".
Renier Holtshauzen, welvaartbestuurder by Anchor, bespreek waarom dit so belangrik is om 'n testament te hê en wat sou gebeur as jy sonder 'n testament sterf. Hy bespreek ook hoe gereeld 'n mens hul testament moet opdateer.
The Chief Executive Officer of Paragon Lending Solutions, Gary Palmer, says commercial financiers or lenders are becoming more conservative with respect to financing local businesses on the back of Covid-19, a sluggish economy and political instability. What is of interest is some of the requirements that financiers are now tightening as a part of this more conservative lending behaviour. Palmer mentions that not only are lenders reducing their loan to values on transactions, but they are checking entrepreneurs’ life covers, and social media accounts to determine suitability for financing. This is in addition to all the normal credit checks, that one would be exposed to when applying for a business related loan. Palmer tells the OFM Business Hour that this is why it takes that much longer to obtain a loan. In a world where cash is king/liquidity is king, these stringent requirements should not be ignored by any entrepreneur.
Home and business owners are encouraged to maintain their property adequately to avoid financial losses due to damage as a result of severe weather. Old Mutual Insure Spokesperson, Christelle Colman, tells the OFM Business Hour that insurers can ascertain the difference between damage to property as a result of severe conditions alone and damage exacerbated by lack of maintenance to one’s property. She provides tips on what one should do in her conversation with the business hour.
Die boerderygemeenskap én die platteland is NWK se trots en daarom gee hulle graag terug. NWK se lojaliteitsprogram is ’n aansporing vir all klante van NWK en ’n manier om dankie te sê vir jarelange lojale ondersteuning. Die doel van die program is om klante te beloon vir hulle volgehoue lojaliteit teenoor NWK en om langtermynverhoudinge te bou. NWK-klante van geregistreet is, verdien lojaliteitspunte terwyl jy jou handels- en graansake aan NWK toevertrou. Punte word maandeliks op bruto wins van transaksies bereken en jaarliks uitgekeer. Die randwaarde van die punte word ná die finansiële jaar bereken op grond van die NWK Groep se finansiële resultate en deur NWK se direksie goedgekeur. Enige persoon, instansie of entiteit wat met NWK sake doen, word vir hul lojaliteit beloon. Dit sluit in enige huidige of voornemende aandeelhouer, produsent, entiteit, lid en die publiek of personeel van NWK. Registrasie deur NWK Online of www.nwklojaliteit.co.za is ’n voorvereiste vir deelname. OFM Inhoudsbestuurder, Elzette Boucher-Krüger het met bemarkingsbestuurder, Jaques de Wet gesels om meer uit te vind. Vir navrae kontak gerus: NWK Finansiering (gedurende kantoorure) by 018 633 1000 of Jacques de Wet, Bemarkingsbestuurder: by 018 633 1193 of jdewet@nwk.co.za.
The Covid-19 pandemic has left alcohol producers on the brink, but many are choosing to focus their attention on charity work during this tough time. Michelle Erasmus, Board Member of the Craft Brewing Association of South Africa and owner of Pause Brewing tells the OFM Business Hour that some brewers have opened up food kitchens to assist community members who are in a far worse situation than they are. The association itself has received donations, with which they have purchased food stamps for some of their struggling members. Erasmus says even though things are tough she urges alcohol traders to refrain from illegal trading and operate within the time frames outlined in the restrictions as this is the only bargaining chip that the industry will have moving forward.
Fashion lovers are becoming more eco-conscious and want their garments to be ethically and sustainably sourced on top of looking great of course. Carina Louw and Natasha Jaume, founders of ERRE Fashion, agree that sustainability is top of their priority with respect to fashion. The duo has been invited by Share Africa, in partnership with luxury fashion conglomerate, the Kering Group (think Balenciaga, Gucci, Alexander McQueen etc), to participate in their spotlight on African design venture – Africa Fashion UP. The design duo will showcase a collection entitled ‘Home’ in Paris on 17th September this year, in advance of Paris Fashion Week.
Finansiële adviseur, Marius Ferreira, verduidelik wat presies is ‘n testament en wat sou gebeur as jy te sterwe kom, sonder ‘n testament. Hy bespreek ook wat sou gebeur as jy te sterwe kom met ‘n verouderde testament en wanneeer jy jou testament moet aanpas of opdateer.
Christoff Oosthuysen, algemene vennoot van SeedSouth Capital, verduidelik wat die grootste uitdagings is wat entrepreneurs tans in die gesig staar en verduidelik ook waarom dit so belangrik is om klein ondernemings te help bou wat werkloosheid kan verlig. Hy gee ook advies aan entrepreneurs wat tans finansiering soek.
The Ecommerce industry is estimated to be leaving about R 30 billion per year in revenue on the table. This is outlined in the latest 2021 South African Digital Customer Experience Report. The OFM Business Hour sat down with Julia Ahlfeldt, a customer experience professional and a part of the team that researched and authored the report to unpack some of the key findings that the researching team gleaned from their engagements with customers. Ahlfeldt says the ecommerce market in South Africa appears to be maturing on the back of Covid-19 with 82% of respondents shopping online and 73% of them coming from households with an income of R 10 000 or less.
Despite this move in the right direction many are still abandoning ship at the last minute due to the customer experience, leaving R 30 billion on the table. The expert says high shipping costs and cumbersome processes are two of the biggest reasons why customers are abandoning shopping at the last minute.
She believes that by streamlining shipping orders and being upfront about shipping order delays etailers can improve the customer experience online significantly. Furthermore Ahlfeldt says customers have expressed immense concern over the security of their information online and believes that etailers should not only prioritise securing the information of their customers, but also notify them of this.
Job burnout. Human resource practitioners, managers and employees are facing this occupational phenomenon more frequently. The World Health Organization defines “burn-out” as a syndrome resulting from chronic workplace stress that has not been successfully managed.
It is characterized by three dimensions:
· feelings of energy depletion or exhaustion;
· increased mental distance from one’s job, or feelings of negativism or cynicism related to one's job; and
· reduced professional efficacy.
To find out more, Mio Khondleka, from OFM’s sister station Algoa FM, spoke to Prof. Stoffel Grobelar, one of the practitioners involved in the “RESURGENCE THROUGH NATURE BY MANTIS” is a nature-based wellness programme for high-functioning executives developed to prevent mental and physical exhaustion, and to treat stress and fatigue.
If you know a colleague who is fatigued or burned out, visit ofm.co.za, click on competitions and nominate them for a chance to win a 6-day Lifestyle Enrichment programme to the value of R90 000 - designed to treat and prevent executive burnout. It could be a front-line worker, teacher, executive, entrepreneur or someone in management. Anyone you know who would benefit from this revitalising programme.
Let Mantis’s boutique hospitality combined with medical expertise headed by clinical psychologist, Konrad van Staden, lead the way in identifying and treating mental burnout associated with high-demand occupations.
Enter them now - visit ofm.co.za, click on competitions and then "Win with Resurgence through Nature with Mantis".
The restaurant and hospitality industry is looking ahead to government’s review of the current alert level 2 restrictions in the next two weeks. The Chief Executive Officer (CEO) of the Restaurant Association of South Africa, Wendy Alberts, says they are hopeful that come then the government will engage the industry on restrictions impacting them. She says the industry has been largely ignored when it comes to the conversation around said restrictions. They are also seeking financial relief and assistance.
The OFM Business Hour’s Olebogeng Motse talks to Bonolo Molefe about the Eagle Route, one of five Free State routes that are named after popular South African animals and birds. The Route offers a range of attractions that will make your holiday memorable…
The mountainous landscape of the Eagle Route provides tranquillity and scenic views; it runs along the majestic Drakensberg Mountains that form a picture perfect landscape as the backdrop to the Eagle Route. It changes with the seasons, from the bright colours of summer to the snow-clad slopes of winter.
Golden Gate Highlands National Park nestles in the Clarens valley. The name ’Golden Gate’ originates from the two cliffs that face each other on either side of the road: at sunset, the yellow sandstone becomes a rich golden colour.
The Basotho Cultural Village, located in the Golden Gate National Park, takes you down the pathway of time. It is here where the lifestyle of the Basotho is depicted from the 16th century to the dramatically colourful present.
The town of Clarens boasts many art galleries and restaurants. For adrenaline junkies, Clarens Xtreme offers white river rafting, zip lining and more.
As you move along the Drakensberg Escarpment, it incorporates portions of the Natal Drakensberg and the Maluti Mountains. The Maluti Mountain range rises some 3475 meters and it extends over 1125 kilometres. For hikers, this means rocky terrain with breathtaking views. Rock paintings have been found in the area dating back several thousands of years and are worth looking out for.
Seekoeivlei Nature Reserve, set on the leading edge of the Free State’s high escarpment, is a perfect place for birding – specifically for exclusive grassland and wetland species. There are also antelope, zebra and hippo.
Discover the Free State is made possible by the Free State Gambling, Liquor and Tourism Authority.
Listen to the full podcast with Bonolo Molefe below:
Finansiële adviseur, Marius Ferreira, verduidelik of jy jou mediesefondsplan kan verander as dit nie aan al jou behoeftes voldoen nie, en hoe jy kan bepaal watter plan is die beste vir jou. Hy verduidelik ook hoe jy jou mediese fonds kan bestuur as jou behoeftes verander.
The OFM Business Hour’s Olebogeng Motse talks to Nthabiseng Methola about the Cheetah Route, one of five Free State routes that are named after popular South African animals and birds, offering a range of attractions that will make your holiday memorable…
The Cheetah Route, home to Bloemfontein, Botshabelo and Thaba Nchu, is filled with historical, cultural and natural attractions that will keep travellers occupied for days.
Both the ANC and the Lord of the Rings author, JRR Tolkien, were born in Bloemfontein. The city is known as the provincial and the legislative national capital.
While in the city, visit the Free State National Botanical Garden, which has 400 species of plants, 144 bird species, 54 reptile species and 32 mammal species. Visitors can have a picnic or admire the lush views.
Other places to add to your Cheetah Route itinerary include Franklin Nature Reserve on Naval Hill, which is the only nature reserve in South Africa that is in the middle of a city. Also on Naval Hill is the second tallest statue of Nelson Mandela, and the Planetarium, which is the first digital planetarium in Africa, south of the Sahara.
Discover the Free State is made possible by the Free State Gambling, Liquor and Tourism Authority.
Listen to the full podcast with Nthabiseng Methola below:
Financial assistance may be on the horizon for cane growers who collectively lost more than R 84 million due to unrest in Kwa-Zulu Nata and Gauteng in July 2021. Chairman of the SA Cane growers Association, Andrew Russell, tells the OFM Business Hour, that whilst nothing is set in stone yet, government has reverted back to them regarding their requests for financial assistance, specifically the department of agriculture as well as the industrial development corporation (IDC). Russell says as much as the response to their pleas is encouraging, it is far from being enough. Again there is no value that has been mentioned as yet.
More than 500,000 tons of sugar cane were burned during the unrest. Most of it now can't be processed as a result of the damage says Russell. Mills in Kwa-Zulu-Natal have not taken in cane due to burning damage. The cost has amounted to the aforementioned R 84, 5 million. Russell says the one key takeaway for the industry from th unrest is how vulnerable they are to instigators or disgruntled members of our society. He says that they now need to prioritise security to avoid a similar event in the future.
The OFM Business Hour reported in mid-July that the Amatikulu Sugar Mill in Gingindlovu, KwaZulu-Natal, was placed under strict surveillance by law enforcement and the farming community following reports that protesters in the province were eyeing to cause damage to it.
Former South African President, Jacob Zuma’s detention for defying the Constitutional Court is believed to have triggered the unrest in which it is reported 354 people lost their lives and hundreds others were arrested for their alleged involvement in the looting, violence and overall criminality that took place during that month.
Toko Moeketsi, Business Director at Openfield Marketing, discusses some of the major reasons why clubs are being sold in the premier soccer league and what specifically happened with Bloemfontein Celtic. He also discusses whether the challenges that were brought on by the covid-19 pandemic were the last straw that broke the camel's back for the Bloemfontein Celtic as teams couldn't generate additional revenue with empty stadiums.
The OFM Business Hour’s Olebogeng Motse talks to Springbok Route ambassador Kefiloe Molefe-Mofokeng about the Route.
The Springbok Route is one of five Free State routes that are named after popular South African animals and birds, offering a range of attractions that will make your holiday memorable…
The Springbok Route, which connects the Free State with the Northern Cape, includes Jacobsdal, Koffiefontein, Jagersfontein, Bethulie, Gariep Dam and Philippolis. Jacobsdal is part of the Diamond and Wine Route. Diamonds were discovered in the area in 1867, while grapes have been grown there since 1972. Experience the wines of the region at the Landzicht and Wilreza wine cellars in Jacobsdal. Gariep Dam is home to the province’s largest nature reserve, Gariep Dam Nature Reserve. There are also many holiday resorts and activities in the area to entice you to book a holiday there.
Discover the Free State is made possible by the Free State Gambling, Liquor and Tourism Authority.
Listen to the full podcast with Kefiloe Molefe-Mofokeng below:
Fraudsters have shifted their attention away from the financial services to online gambling and travel. The head of emerging solutions at TransUnion, Davina Myburgh, says their quarter 2 research reveals there has been a whopping 922,7% rise in fraud related to online gambling activity. She stresses fraudsters are merely targeting industries they believe have the most activity and will as a result provide the most reward. Transunion’s quarter 1 research previously revealed that fraud attempts in the financial services increased by 187,34%. She says businesses are forced to strike a delicate a balance between protecting online customers and making online shopping a hassle free pleasant experience.
We need new ideas and innovative methods to get South Africa’s unemployed youth into the job market. These are the words of the acting co-Chief Executive Officer (CEO), Leanne Emery, who was speaking to the OFM Business Hour regarding the country’s 34,4% unemployment rate for the second quarter of 2021. The conversation with Emery comes as Stats SA announced that the economy expanded by 1.2% in the second quarter of 2021 with the transport, agriculture and communication industries contributing significantly to this growth. The expansion is based on a new reporting methodology adopted by Stats SA, which no longer reports GDP growth on a seasonally adjusted annualised basis and uses 2015 as its base year for calculations.
When it comes to cleaning surfaces in the workplace and protecting your employees from an outbreak of Covid-19, stick to the basics. This is the advice of Annette Devenish the Marketing Infection Protection Products. She says it’s important that business owners conduct risk assessments and remember to stagger lunch time breaks.
Resurgence Through Nature with Mantis is giving one lucky OFM listener the chance to win a spot in their exclusive 6-day Lifestyle Enrichment programme to the value of R90 000 - designed to treat and prevent executive burnout.
The Lifestyle Enrichment uses psychological processes, nature-based interactions and rest-enhancing activities to assist the participant to become emotionally and physically enriched, leaving them better equipped to manage stress and to feel relieved of fatigue.
The programme begins with a day at Mantis No5 Art and Boutique Hotel in Nelson Mandela Bay. From Mantis No5, participants will leave to spend 4 nights at Mantis’ Founders Lodge in the Eastern Cape Bushveld to engage with nature and be guided by experienced psychologists and eco-therapists towards an experience that will leave them re-connected, rested, and revitalized.
Nominate any fatigued or burnt-out colleague or friend you know who would benefit from this revitalizing programme below. It could be a front-line worker, teacher, executive, entrepreneur or someone in management.
Aftrede is gewoonlik die laaste ding wat iemand onder 35 jaar in gedagte het, maar kenners waarsku dat ‘n gebrek aan beplanning veral die sogenaamde millenniër generasie kan benadeel.
Die gemiddelde aftree-ouderdom in Suid -Afrika is 60, maar statistieke toon dat slegs 6% van Suid -Afrikaners op die regte pad is as dit by aftredebeplanning kom.
OFM Inhoudsbestuurder, Elzette Boucher-Krüger, het met Nicole Venter van Wytham Estate, gesels om meer uit te vind. Luister na die potgooi onder om te hoor hoeveel en wanneer jy moet begin spaar.
Layton Bread, spokesperson for the Automobile Association, discusses the latest fluctuations in the price of fuel and the important decrease in the price of paraffin. He also explains what the slate levy is and the significant impact it had on the price of petrol.
Marius Ferreira, finansiële adviseur, verduidelik wat is die effek van die pandemie met betrekking tot persoonlike finansiele beplanning. Hy bespreek ook wat jy kan doen om jou finansiele beplanning te beskerm teen die invoed van Covid-19.
Elmarie Smith, kommersiële hoofbestuurder by Traxtion, verduidelik of die vragspoorbedryf steeds 'n relevante en betroubare vervoerbron is en bespreek wat die vaardigheidstekort in die vragspoorbedryf veroorsaak. Sy vertel ons ook waarom sy glo dat vroue die sleutel is tot die toevoeging van diversiteit in die goederespoorwegbedryf.
On Wednesday, the OFM Business Hour, spoke to Dov Girnun, the Chief Executive Officer (CEO) and founder of Merchant Capital regarding what cash-flow lending is. Girnun says unlike a typical loan which has a fixed payment schedule, a cash-flow lending product fluctuates directly in line with how a business trades. He argues that this is what makes this funding model ideal for businesses that couldn’t trade during hard lockdowns.
The General Manager of Luno, Marius Reitz, advises prospective cryptocurrency investors to start small and do their research before taking out money on bitcoin. Reitz was on the OFM Business Hour to get into the biggest misconceptions around bitcoin. He says investing in cryptocurrency is not a get rich quick scheme and should be done thoughtfully.
Juanita Greyling, ondervoorsitter van die Potchefstroom sakekamer, gee ons 'n opdatering oor hul projek waar hulle paalgate in Potchefstroom bedek het en sy vertel ook hoe besighede tans in Potchefstroom vaar terwyl ons voortgaan om die covid-19-pandemie te bekamp. Sy bespreek ook hul opwindende nuwe projekte wat vanjaar voorlê.
Harmony Gold’s over $300 million acquisition of Mponeng Mine in South Gauteng alongside higher commodity prices helped up the mining giant’s 2021 profits by 66%. Financial Director at Harmony, Boipelo Lekubo, was on the OFM Business Hour on the back of the release of the mining giant’s financials for the period ending June 2021. Harmony acquired Mponeng in early 2020 from AngloGold Ashanti - considered the world’s deepest mine. The latter company said Harmony had the “financial capacity and proven technical capability in operating ultra-deep, hard-rock mining assets in South Africa”. Due to its depth, the Mponeng mine was viewed as somewhat of a risk, requiring billions of Rands in investments to extend its lifespan. It is this risk that prompted AngloGold Ashanti to sell its remaining assets in the country to focus on its more profitable operations elsewhere. The other assets included mine waste solutions, the mine waste retreatment operation, and a surface rock dump processing business.
Start-ups are the centre of Namibia’s economic growth. This is according to the Chief Executive Officer (CEO) of Stellenbosch University’s Launch Lab, Joshua Romisher who was speaking on how the Cook incubation programme aims to assist Namibian businesses with getting to the next level. Romisher also shares some interesting insights on what is hindering economic growth in Southern Africa as a whole in his chat with the OFM Business Hour.
Statistieke SA het onlangs aangedui dat Suid-Afrika se werkloosheidskoers ’n onge-ewenaarde 34,4%bereik het. Dit beteken dat sowat 7,8 miljoen mense nie werk het nie.
Bloomberg het ook laat weet dat Suid-Afrika boaan hul lys is van 82 lande wat se werkloosheidskoers hulle monitor.
OFM Inhoudsredakteur, Elzette Boucher-Krüger het met arbeidskonsultant van LabourNet, Jaco Spies, gesels om beter die syfers en die impak daarvan te verstaan.
Men in the insurance sector are still out earning their female counterparts. This is according to Managing Director of Elite Risk Acceptances and Old Mutual Insure Spokesperson, Christelle Colman who was speaking to the OFM Business Hour amidst Women’s Month. Colman says whilst significant strides have been with respect to women empowerment the corporate world is still lagging behind on the issue of gender parity. She says this was evidenced in the number of women who bore the brunt of the Covid-19 pandemic as they were now forced to juggle remote working and home schooling.
South African households are still feeling the burden of the Covid-19 pandemic albeit less so than in 2020. This is according to the latest Consumer Pulse Survey by consumer credit reporting agency, Transunion. Vice-President and head of TransUnion Auto & Consumer Africa in Africa, Kriben Reddy, tells the OFM Business Hour that the survey has been running on a month-to-month basis since the introduction of lockdowns globally in 2020 and is meant to gauge consumer sentiment during these turbulent times. Reddy says over 61% of households are feeling the burden of the pandemic on their pockets in 2021 as compared to over 80% in 2020, at the height of the pandemic. This means that more indebted South Africans are relying on credit just to get by.
The beauty and wellness industry is continuing to grow and evolve amidst some challenging economic conditions in South Africa. This is evidenced in the business of Bloemfontein-based somatologist and entrepreneur, Tiffany Pienaar who was on the OFM Business Hour on Wednesday (25 August) to share some insights into how this evolution has taken place since she first qualified as a somatologist over a decade ago. Pienaar says beauty used to be seen as a luxury, but now it’s deemed to be a routine in light of its integration into medical aesthetics. Pienaar who owns Tiffany. It’s a girl thing beauty salon says as a result aesthetic clinics where you will see medically trained practitioners working in close collaboration with beauticians or somatologists are now popping up and are being supported. With respect to the impact the Covid-19 pandemic has had on her industry, Pienaar says she was forced to be innovative and think outside of the box, going as far as making home care kits for her clients. According to Intergest South Africa, the beauty and personal care market in Africa is expected to grow at a compound annual growth rate of 6.6 % during the period 2018 to 2022. Roughly 36 % of the growth in the African cosmetics industry is expected to come from South Africa. In 2017, the value of this sector was estimated to have grown to R27.35 billion at retail level and R19.69 billion at manufacturing level. Whilst the Covid-19 pandemic set the industry back slightly, it remains to be seen how much damage it has done in the long run.
Leanne Emery, the Youth Employment Service (YES) acting Co-CEO, discusses the urgent need for more ICT skills amongst the youth and their training programs aimed at developing more ICT professionals in the country. She also discusses why it is so important for young people to go abroad to further their ICT skills.
Finansiële adviseur, Marius Ferreira, verduidelik die verskillende aspekte waarvoor jy moet beplan en waar jy kan begin om te beplan vir jou finansiele toekoms. Hy bespreek ook hoe jy jou persoonlike finansiële beplanningstrategie kan verander om aan jou spesifieke finansiële behoeftes op kort en lang termyn te voldoen.
The office of the Ombudsman for banking services in South Africa saw a rise in 13% complaints in the first half of 2021 as compared to 2020. The Ombudsman, Reana Steyn, says instances where her office referred complainants back to the bank in question rose by 40% in 2021. Steyn tells the OFM Business Hour, that her office does not know what is driving the spike in complaints. She says the vast majority of the complaints are fraud related: internet banking and ATM scams.
Chartered account and international tax specialist at Allan Gray, Komil Gordhan, says its important not to ignore the South African Revenue Service's (Sars') auto assessment this tax season. Gordhan who was speaking to the OFM Business Hour over one month after tax season commenced says ignoring the auto assessment will result in Sars making an estimated assessment using the information on system on a citizen's behalf and this could result in one losing out on an important rebate from the revenue service.
Hennie Strydom, verkoopsbestuurder vir Auto Information Solutions by TransUnion Africa, verduidelik wat die TransUnion SA Voertuigprysindeks (VPI) eintlik meet. Hy verduidelik ook hoe het die jongste burgerlike onrus motorvervaardigingsbedrywighede en voorsieningskettings erg ontwrig.
Manie Van Schalkwyk, Uitvoerende hoof van die Suid Afrikaanse bedrogvoorkomingsdiens, verduidelik of die covid-19-pandemie mense eintlik aanlyn gedwing het en dat daar nou meer geleenthede aan kuberkriminele gebied is. En vertel ons meer oor die beskermende registrasie en waarom is dit so belangrik.
Willem Smith, Uitvoerende hoof vir verspreiding by Hollard Life Solutions, verduidelik die belangrikheid van 'n aftreeplan en 'n paar voordele van 'n aftreeplan. Hy verduidelik ook wanneer die regte tyd is om te begin spaar vir aftrede.
South African law enforcement agencies are on high alert amidst threats of another violent national shutdown. This news does not bode well for local businesses many of whom were ransacked by protesters during unrest in Kwazulu-Natal and Gauteng in July 2021. The Chief Executive Officer (CEO) of Galetti Commercial Real Estate, John Jack, tells the OFM Business Hour that the commercial real estate space was already struggling ahead of the Covid-19 pandemic in 2020 and the dawn of remote working. The recent civil unrest only worsened the situation further after shopping complexes and businesses based in commercial spaces were ravaged by violence and looting.
Iets wat motoriste dalk mis as dit by versekering kom, is die toestand van hul voertuig se buitebande.
Terwyl dit algemene kennis is dat die bande genoeg loopvlak moet hê om padwaardig te wees, is dit dalk nie so algemeen bekend dat buitebande ’n vervaldatum het nie.
OFM inhoudsbestuurder, Elzette Boucher-Krüger het met met Wynand van Vuuren van King Price Insurance gesels om meer uit te vind.
The empowerment of women in South Africa must begin within. This is according to owner of Tadcaster Trading Post, Diana Steenkamp who was on the business hour to share her experience of running a successful family business in the central South Africa region as a woman. More of Steenkamp’s insights can be found in the podcast below.
Klippies Kritzinger, Hoof uitvoerende beampte van die Golden Triangle Chamber of Commerce, verduidelik die huidige situasie in die vaal gebied rakende dienslewering en vertel ons meer oor die vernuwende oplossings deur die restaurantbedryf. Hy vertel ons ook van hul komende projekte.
The Head of human capital at Kandua.com, Royzanne Kampher, believes that recruiting, mentoring and empowering female artisans is the key to countering the shortage of professionals in the sector. Kampher was on the OFM Business Hour during Women’s Month and she shared some of her thoughts on gender parity, female empowerment and mental health in the workplace. Here interview can be found below:
Bloemfontein-bred sisters and owners of burgeoning wine brand Kaho 704, Rethabile Lesole and Diteboho Banda say they feel empowered as female entrepreneurs in South Africa to chase after their dreams. Rethabile and Diteboho were on the OFM Business Hour on Women’s Day to get into the latest addition to their bigger lifestyle, wellness and catering group, which was initially formed in 2013 and formalized in 2017 under the name Total Longevity.
The company has since evolved to include cuisine, and hence the introduction of a hybrid wine named Kaho 704. The Bochabela sisters says Kaho means to build, because the intention of their businesses is to create “generational wealth”, because going to school and getting a job isn’t enough anymore.
The sisters lament what they deem to be a lack of accessibility and transparency with regards to government grants and as a result maintain they did not benefit much from any state assistance in building their brand.
The sisters who are only 2/3rds of the wellness and catering group shy away from revealing any future plans for Kaho 704 or the bigger brand, with Rethabile in particular adding that they do not want to “count their chickens before they hatch”.
Suid-Afrika se graanprodusente is tans in ’n goeie mededingende posisie. Dis volgens NWK se Bestuurder Landboubestuurdienste, Arno Janse van Vuuren, wat verduidelik dat dit veral die afbetaling op termynlenings wat opvallend is.
Marius Ferreira, finansiële adviseur, verduidelik die doel van risikodekking en ook die die verskillende aspekte van risikoversekering. Hy bespreek ook watter aspekte is die mees belangrik en wat jy kan doen as jy nie al die verskillende komponente kan bekostig nie.
The Rebuild South Africa movement is continuing to gain momentum with Kandua.com now joining in on the action. The Chief Technology Officer and co-founder of the tech startup, Arjun Khoosal, spoke to the OFM Business Hour regarding some of the efforts being carried out by small businesses who want to assist others.
ReBuild SA is a network of volunteers, NGOs, sponsors and donors who are assisting in rebuilding communities, small businesses, schools, clinics, homes and lives in South Africa’s riot-affected communities in KwaZulu-Natal and Gauteng.
Many industries have been brought to their knees by the Covid-19 pandemic, however it appears labour law centered businesses are thriving. One such business is Tenacious Concepts Labour Agency owned by Matlhodi Leeuw who was on the OFM Business Hour amidst women’s month. Leeuw explains that the improvement in her businesses during the pandemic was due to the sheer volume of businesses that were closing and negotiating retrenchment packages with employees. Speaking on women empowerment in 2021, she says a lot still needs to be done to support female driven businesses in male dominated spaces. Her conversation can be found below.
Mining and Energy expert, Ted Blom says Eskom jumped the gun when announcing that building activities at the Medupi Power Station are now complete. Blom tells the OFM Business Hour there is still some repair work that needs to be carried out on five of the units, therefore the building activities are no complete.
Senior Executive/Partner at ENSafrica in the employment department, Itayi Gwaunza, says yes it is possible. According to Gwaunza the ‘doctrine of common purpose’ makes it feasible for one to be held liable for misconduct that they did not commit directly. This was evidenced in NUMSA obo Aubrey Dhludhlu & Others and Marley Pipe Systems (SA) (Pty) Ltd in which 148 employees at Markley Pipe Systems were fired for the assault on the HR Manager. Only five employees could be proven to have taken part in the assault however all 148 who were present were fired on the basis of the doctrine of common purpose. Gwaunza says it was proven the employees associated themselves with the assault through their presence at the scene, which is said to have encouraged those involved in the assault. They failed to come to the assistance of the HR Manager and rejoiced in his assault. The placards they held calling for the manager’s dismissal also proves that they were embroiled in the matter despite not being caught red-handed. He says it is important for employees to remove themselves from misconduct when it is occurring.
Layton Bread, Spokesperson for the Automobile Association, discusses what are some of the major reasons for these massive petrol price increases and explains the newly introduced slate levy of R6.58 by Mineral Resources Department. He also addresses rumours of fuel shortages in the short and long term after the recent riots and looting in Gauteng and Kwa-Zulu Natal.
Non-profit organisations need to focus on measuring the social impact of projects. This is according to OVCmeasure’s Chief Executive Officer (CEO), Meyer Conradie, who was speaking to the Business Hour about how measuring the numerical social impact of a project can provides insight into what projects NPOs need to continue putting money into and which ones they should rather veer away from. Conradie says the Covid-19 pandemic has crippled many of these NPOs and with resources so scarce, the success of a project no longer hinges “how many people have been helped” by dishing out food parcels for examples but rather on the impact the food parcels have on the quality of life of the needy.
Marius Ferreira, finansiële adviseur, verduidelik hoe jy kan beplan vir jou mediese behoeftes en of die duurste plan altyd die beste plan is. Hy bespreek ook of dit nog steeds nodig is om vir jou eie mediese uitgawes te beplan as jou werk vir jou mediese fonds betaal.
Well the answer isn’t as simple as the question might suggest. ENS Africa Executive Lauren Salt says in theory yes, an employer can make the Covid-19 vaccine mandatory however one must be mindful of a few things. She says employers need to balance their rights as the heads of organizations with the constitutional rights of their employees.
Mariena Cloete, spanleier by ooba Group, neem ons deur 'n paar statistieke rakende die tweede kwater van die huiskopermark kyk en en hoe covid-19 die manier waarop ons vaste eiendom en eiendom koop, heeltemal verander het. Sy verduidelik ook hoe die mededinging tussen die banke verbruikers help en as ons kan verwag dat hierdie rentekoersneigings in 2022 sal voortduur.
It will take the roughly 30 craft breweries that were on the brink of closure during the latest alcohol ban which was lifted on Sunday (25 July) to get up and going again. This is according to member of the Beer Association of South Africa (Basa) Apiwe Nxusani-Mawela who was reacting to President Cyril Ramaphosa’s announcement that the country was moving from lockdown level 4 to 3. Despite Basa welcoming this important development, the association is of the view that it is “too little too late” for the many businesses that have been forced to close. Nxusani-Mawela’s brewery was one of those that were forced to close and she has since been forced to redirect her focus to training primarily.
Manie Van Schalkwyk, uitvoerende hoof van Suider-Afrikaanse Bedrogvoorkomingsdiens, verduidelik wat die belangrikste tendense is wat ons gesien het as dit kom by bedrog en verduidelik ook watter sektore van ons ekonomie die swaarste getref is deur bedrog. Hy bespreek ook watter stappe geneem is deur die Diensvoorkomingsdiens van Suider-Afrika om te reageer op die groot uitdaging van bedrieërs en hoe ons proaktief kan wees.
The latest window of applications for the Unemployment Insurance Fund (UIF) Covid-19 Temporary Employer-Employee Relief Scheme (Ters) is now open. The OFM Business Hour team sat down with ENS Africa Executive, Lauren Salt, to gain insight into the qualifying criteria for local businesses.
Juliemaand was ’n redelike beproewende maand vir Suid-Afrika. Nie net in terme van die derde vlaag van die Covid-19 uitbreking, en die gepaardgaande inperkings nie, maar ook in terme van die burgerlike verset en oproer wat ons veral in KwaZulu-Natal en Gauteng gesien het en dan natuurlik die ekonomiese gevolge hiervan.
OFM Inhoudsbestuurder, Elzette Boucher-Krüger, het met Dawie Roodt, ’n direkteur en hoof-ekonoom van die Efficient Groep – Finansiële en beleggingskenners, gesels vir ’n bietjie dieper insig.
Roodt brei uit oor die omvang van die skade, hoe die gebeure markte beïnvloed al dan nie, die toekoms vir buitelandse beleggings, die pad vorentoe vir kleinsake wat geraak is, hoe lank ekonomiese herstel na verwagting sal duur, en wat gedoen kan word om die onderliggende kwessies wat tot gebeure gelei het, aan te spreek.
Luister na die potgooi onder.
Expectations were such that when the unrest in Gauteng and KwaZulu-Natal gained international traction, foreign investors would disinvest from the country, ditching South African bonds, but this was not so. The Head of the Economic and Finance department at the University of the Free State (UFS), Nico Keyser, says foreign investors were surprisingly not scared away by the unrest. He concedes the rand depreciated by 3% but it bounced back not too long thereafter.
It is estimated that the violent looting that took place in KwaZulu-Natal resulted in a R 20 billion loss for the province’s economy, and cost the country as a whole R 50 billion. Keyser says the South African Special Risk Insurance Association (Sasria) is estimated to receive between R 10 -20 billion in claims. He says this isn’t a true reflection of the damage incurred by the 40 000 businesses and 50 000 informal traders who were affected by the unrest because many of them are uninsured and as a result won’t be able to claim from Sasria.