Indholdsfortegnelse for 2024-10-17 i Mercury

Minister of Employment and Labour Nomakhosazana Meth has argued for an increase in occupational health and safety standards across the board given that levels of non-compliance were still high in South Africa. Speaking yesterday at the launch of the Occupational Health and Safety strategy for the period between 2024 and 2029, which has been endorsed by the International Labour Organization, Meth said that the strategy would improve the occupational health and safety of workers in South Africa and serve as a guiding road map. “We want to ensure that prevention principles are inculcated in all work practices,” she said. At the ceremony, stakeholders from compensation funds, the department, business bodies, and organised labour signed the new accord, which aims to reduce workplace injury and sickness payouts so that the money…

AFRICA-focused e-commerce retailer Jumia Technologies will close its South African online fashion retailer Zando and its Tunisian operations by the end of the year to sharpen its focus on its other markets, the CEO said. Jumia is aggressively cutting costs to try to turn profitable, including by reducing head count, exiting everyday grocery items and food delivery, and cutting delivery services not related to its e-commerce business. “The trajectory of the countries did not align with the strategy of the group,” CEO Francis Dufay said, citing complex macroeconomics, the competitive environment and low medium-term potential for growth and profitability. “It enables us to refocus our resources on the other nine markets where we see more promising trends in terms of scale and profitability.” Jumia’s remaining markets include Egypt, Kenya, Morocco…

The sugar industry’s assertion that any increase to the sugar tax or lowering of the threshold will impact the sugarcane sector, resulting in 25 000 cane farmers being pushed out of business, and ‘plunging families into poverty’ is too good to be true. Why is this wrong? Well, they say so themselves. According to the SA Canegrowers Annual Report 2022/2023, “soaring input costs have made for a difficult operating environment in the sugar industry. The cost of fuels and lubricants has increased by 12%, fertilizers by 34% and irrigation by 45%.” Furthermore, according to the sugar industry’s own report, “the average increase, combining all these inputs, was over 11%. This while increases in the price of sugar was limited to 7% over the term of the Sugarcane Value Chain Masterplan…

As an entrepreneur or business owner, you likely wear many hats – salesperson, strategist and HR, to name a few. But the most crucial role you play in your business is that of a leader. Being a good boss or manager not only influences your team’s performance; it also has a major impact on your corporate culture and overall success. Whether you’re running a small start-up or managing a growing small and medium enterprise (SME), improving your leadership skills can directly impact productivity, employee retention, and ultimately your bottom line. With October 16 being Boss’s Day, it’s the perfect time to reflect on your leadership approach and identify areas for improvement. Here are five things you can do to become a better boss or manager: 1.Prioritise clear communication Effective communication…

A group of eight township furniture makers have between them created 42 jobs and generated a turnover of R2 million since joining a two-year entrepreneurial development programme. The group graduated from the programme at a ceremony held at the Pernod Ricard Foundation earlier this week. John Baptiste Mathebula and Manyane Rantai, co-directors of Add Decor and Projects, turned their creative vision into concrete profits and employment for members of their community, after learning the craft of furniture making as part of the Pernod Ricard Makers Programme, in partnership with the Gauteng Provincial Government and the Furniture Technology Centre Trust (Furntech). Mathebula began his creative journey as a schoolboy sketch artist, doing portraits of classmates and his social circle, before earning a living by doing paintings on commission for local restaurants.…

Super Group, the South Africa-headquartered logistics and mobility solutions group operating across sub-Saharan Africa, UK, Europe, and Australasia, has demonstrated its financial stability and commitment to shareholder value with a 60 cents per share final dividend. The company has also implemented a revised long-term incentive share scheme for executives following shareholder feedback. Super Group chairman Valentine Chitalu, in the integrated report released yesterday, expressed confidence in their ability to adapt to volatile conditions and achieve its long-term goals, despite challenging environments in its operating markets. The dividend payout reflects this optimism and the company's strong financial position. Following insufficient shareholder support for remuneration policies at the last annual general meeting, Super Group has introduced a new Conditional Share Plan (CSP) scheme. This plan, to be implemented in the year to…

The Proteas Women’s team and defending champions Australia will meet in a rematch of last year’s T20 World Cup final in the first semi-final in Dubai tomorrow (4pm start). Zaahier Adams highlights five match-ups that could potentially determine the outcome of the much-anticipated clash... Laura Wolvaardt v Beth Mooney The two openers are the glue that holds their respective teams together. Mooney is the epitome of ‘BMT’, often holding her best performances for the semis and finals. Wolvaardt, now as the Proteas skipper, leads from the front, and the Aussies will know that getting her cheaply is half the battle won. However, the SA captain has some unfinished business after taking her team close but not over the line in the final last year at Newlands. Marizanne Kapp v Ellyse…

The Sharks team to play the United Rugby Championship champions Glasgow in Durban on Saturday (4pm kick-off) remains under wraps. Still, judging by the turnout at training yesterday at Kings Park, home fans are in for a treat. Superstars Eben Etzebeth, Bongi Mbonambi, Ox Nche, Siya Kolisi, Vincent Koch, Aphelele Fassi, Lukhanyo Am and Makazole Mapimpi all trained yesterday, and are certain to fulfil a role this weekend. There was a big welcome back from injury for scrumhalf Grant Williams, and he will play a role off the bench behind Jaden Hendrikse on Saturday. Coach John Plumtree chose to allow his Rugby Championship Springboks a three-week break after the end of the tournament on September 28 in Mbombela, and he is happy to bring back some serious firepower for a…

12.2% plunge on JSE comes as longs division continues to operate at a loss Optimism is waning for South Africa’s steel industry, ArcelorMittal South Africa (AMSA) said yesterday, identifying the influx of cheap imports, high costs for energy and logistics and weak demand as contributing to this against the backdrop of fresh uncertainty for its long steel business that has continued to operate at a loss. There had been renewed optimism that the steel industry would recover but headwinds and imports have persisted. Market analyst Dave Hazelwood wrote on X yesterday that the South African steel industry was at a precarious point, with the government trying to prop up Amsa and risking prospects for related downstream industries that rely on imports. “(The) local market just isn’t big enough to support…

Russia is seeking to convince BRICS countries to build an alternative platform for international payments that would be immune to Western sanctions when it hosts the group’s leaders at a summit next week. President Vladimir Putin is keen to build up BRICS – which has expanded to include Egypt, Ethiopia, Iran and the United Arab Emirates, with Brazil, Russia, India, China and South Africa the original members – as a powerful counterweight to the West in global politics and trade. The October 22-24 summit in the city of Kazan is being presented by Moscow as evidence that Western efforts to isolate Russia have failed. It wants other countries to work with it to overhaul the global financial system and end the dominance of the US dollar. Central to that is…

During my time at National Treasury, I had the profound honour and privilege of working closely with one of South Africa’s foremost political figures: Dr Tito Mboweni. His tenure as Minister of Labour, Governor of the South African Reserve Bank, and Minister of Finance came at critical junctures in our nation’s history, and his clear-sighted vision and steady hands while navigating us through these turbulent periods remain an example to all public servants to this day. As a leader, he offered a sharp mind, a deep understanding of economics, and a keen sense of duty. His work laid the bedrock of our labour policies, and helped guide us safely through some of the worst economic storms seen yet in democratic times, including the tumultuous period of the 2020 pandemic and…

In his reflection on the impact of country music, famed singer Willie Nelson once quipped, “Country music is three chords and the truth”. There’s something about country music and the blues’ abilities to provide a mirror to life’s situations in a manner that is honest, sombre, and self-aware, yet leaves us with no comfortable conclusions. We all have moments that remind us that when we think we are taking flight, we are, in fact, making huge leaps whose inevitable conclusion is landing firmly on the ground, our backsides providing the cushion. My Icarus moment came recently when I found myself in hospital for three days. There’s something about being in hospital that evokes feelings of helplessness, humility, and loneliness once the nurses, doctors, and loved ones have left. The air…

Northam Platinum has an enhanced liquidity profile and will be able to meet its capital requirements in the medium term despite persistently low Platinum Group Metals (PGM) prices, noted analysts at ratings agency GCR Ratings. South African PGM executives are expecting prices of the metals to improve as they keep their eyes on containing costs and ramping up production. Despite the low prices, China said this week that it would launch its first platinum and palladium futures in the first quarter of next year, with analysts saying SA should regularly feature on the planned exchange given its high endowment of PGM. GCR - a Moody’s Ratings affiliated agency - said yesterday that Notham’s “ratings outlook remains on stable” while affirming the miner’s national scale long and short term issuer ratings…

British American Tobacco (BAT) is optimistic about achieving organic revenue growth in its 2024 financial year, despite grappling with challenging market conditions and increasing competition from the illicit trade sector. CEO Tadeu Marroco yesterday emphasised the need for supportive regulatory environments to strengthen the company's operations and enhance market stability. In a statement, BAT confirmed that it remained on track to deliver low single-digit organic revenue and adjusted profit from operations growth for the fiscal year 2024. The company expressed its ambition to progressively improve these figures, targeting 3-5% organic revenue growth and mid-single figures in adjusted profit from operations by 2026. “Extrapolating current spot rates, we anticipate currency translation to be a 5% headwind on FY24 adjusted profit from operations,” BAT noted, acknowledging the impact of fluctuating exchange rates…

The recommendation of Supreme Court of Appeal (SCA) Judge Nolwazi Mabindla-Boqwana for the position of Judge President of the Western Cape High Court has been widely supported by professional bodies, with some saying her possible appointment from outside the troubled division would bring much-needed stability and unity. Judge Mabindla-Boqwana’s name was put forward to become the next Western Cape Judge President after the Judicial Service Commission (JSC) conducted interviews this week with seven candidates that lasted 12 hours. If her appointment is approved, she will take up the seat left vacant by impeached judge John Hlophe. Despite the two objections against her nomination that were dismissed, the commission heard that all professional bodies support her candidature and spoke highly of her. The General Council of the Bar of South Africa…

In 18 dramatic months, Laura Wolvaardt’s life has changed forever. She assumed the Proteas captaincy during some of the most chaotic times that the South African Women’s team has known. Not only did she displace her good friend Suné Luus – who only a couple of months before had led the first South African senior team to a World Cup final – but also inherited a dressing room split straight down the middle due to the uncertainty surrounding long-serving coach Hilton Moreeng. She also saw premier fast bowler Shabnim Ismail call time on her international career. Moreeng has since departed the environment he served for 12 long years, but there’s still been no permanent replacement to fill the void of head coach, with Dillon du Preez in charge on an…

The game of fours in lawn bowls is regarded as the ultimate test of teamwork and strategy. Unlike pairs, each player in a fours team has only two bowls, making precision and coordination essential. The game demands a unique combination of skill and collaboration, with each bowler assigned a specific role—whether it’s the lead who draws as close to the jack as possible; the second who supports with tactical shots; the third who shapes the head with appropriate movement of bowls or the skip who closes out the match. Success in fours hinges on how well these roles are executed, making it one of the most strategic and challenging formats in the sport. Westville Country Club was the venue for some exciting fours play last weekend. In the Port Natal…

South African rugby’s transition towards investment from a private equity partner continues to be tortured after a meeting of the President’s Council yesterday resolved to postpone a decision on the matter. There was supposed to be a meeting today to vote on the proposed private equity deal with US-based Ackerley Sports Group, but this will be rescheduled after Sports Minister Gayton McKenzie requested more time to fully brief the government on the proposal. A task team was mandated following the meeting to provide more information on key issues for additional clarification to members. Mark Alexander, president of the South African Rugby Union, said: “We remain committed to transparency and accountability, and it is important to correct the misinformation and posturing that has surfaced in the media. “We believe our organisation…

Shopping in South Africa rebounded as the retail sector recorded a notable uptick in sales during August, reflecting a gradual positive shift in consumer behaviour and market conditions. Data released by Statistics South Africa (Stats SA) yesterday revealed a year-on-year increase of 3.2% in retail sales following a downwardly revised 1.7% increase in July. This marked the sixth consecutive month of growth in retail activity, and at a robust pace as six of the seven retail groups recorded a positive month. Stats SA said the most significant contributor to this increase was the general dealers category, which saw a robust rise of 4.6%. This upswing was notably supported by food and beverages, which reported growth of 5.4%. Siphamandla Mkhwanazi, FNB senior economist, highlighted that this improvement surpassed market expectations, previously…

Africa needs to use technology from China and US and have all work together, says Wangari Muchiri, the Africa director at the Global Renewables Alliance. She was speaking on the sidelines of the inaugural Investment Forum for Accelerated Partnership for Renewables in Africa held in Nairobi, Kenya. Muchiri is a visionary renewable energy engineer leading initiatives to advance wind power. She has several awards under her belt, including being named a Global Climate Leader by Insider, an Africa Power & Energy Elite and Obama Leader for Africa. Mchuri renewed her call for global North-South and South-South collaboration on renewable energy amid global geopolitical volatility. She first made this call at the SDG Media Zone held on the sidelines of the 79th Session of the UN General Assembly in New York…

Businesses across the globe are bracing for a sharp increase in insolvencies, projected to climb by 11% in 2024, the Allianz Group’s latest Global Insolvency Report showed yesterday. This marks a steeper rise than previously forecast, amid persistent concerns over sluggish demand, geopolitical tensions, and erratic financing conditions. However, amid this daunting global outlook, South Africa emerges as a beacon of hope, reflecting substantial economic progress driven by strategic reforms and the revitalisation of its energy sector. Allianz Trade, Allianz Group’s trade credit insurer, highlighted yesterday that the improvements to the country’s energy supply have brought a significant 14% increase in energy supply over the past four months compared to the previous year. This enhancement is seen as a crucial pivot for local businesses, enhancing productivity and reducing disruptions in…

The Automotive Industry Transformation Fund (AITF) is igniting a new era of opportunity and growth for South Africa’s automotive sector, empowering emerging entrepreneurs to be at the forefront of transformation. As the fund embarks on its next chapter, in alignment with the Automotive Production and Development Programme (APDP 2), AITF calls on bold, visionary entrepreneurs to apply for funding and join in driving the future of the industry. AITF Chief Executive Officer Jabu Selumane reflected on the remarkable progress made since the fund’s inception and its commitment to creating a more inclusive, thriving automotive industry. “In just a few short years, we’ve surpassed expectations, funding over 67 companies and distributing R596 million across the automotive value chain. Our goal is to support 90 companies by 2029, and we are well…

Quilter, the UK investments and wealth management group listed on the JSE and London Stock Exchanges, has reported exceptional third-quarter performance with net inflows of £1.4 billion (R32.1bn), significantly outpacing previous quarters. Despite traditionally slower summer months, both High Net Worth and Affluent segments show robust growth, with Platform net inflows hitting a record £1.5bn, the group said in a trading statement yesterday. CEO Steven Levin said: "Both of our segments contributed to a significantly improved outcome from an already strong first half base." The third quarter net inflows were markedly higher than the strong first and second quarter levels of £810 million and £923m respectively. Group assets under management and administration (AuMA) increased by 2% to £116.2bn by the end of September, reflecting net inflows and higher market levels,…

With Diwali around the corner, the preparations are in full swing with people getting ready to bake up a storm, shopping for outfits and looking for the perfect gift trays. In 2024, this festival of lights will be celebrated from Thursday, October 31. With families coming together for joyous reunions, it's the perfect time to bask in the warmth of togetherness and tradition. Here are five essential ways to prepare for the festival of lights. Spring-clean before the guests stream in Embrace the spirit of Diwali by indulging in a thorough spring cleaning. Many believe that a clean home invites blessings from the deities, particularly Goddess Lakshmi, who represents wealth and prosperity. Engage in a cleansing ritual by dusting, cleaning, and even doing laundry to ensure that your home is…

ANC National Executive Committee (NEC) member and the party’s former spin doctor Pule Mabe appeared with six others before the Palm Ridge Specialised Commercial Crimes Court in Ekurhuleni yesterday facing charges of corruption. The accused including Mabe’s wife Mmatlhekelo Elsie Mabe appeared in court to seek release on bail. The other two accused are companies. The seven were granted bail of R30 000 each and the matter was postponed to March 25 next year. The case involves a R27 million tender for waste collection vehicles which was allegedly unlawfully awarded to Mabe’s company, KG Media, trading as Enviro Mobi, in March 2017. The Gauteng Department of Agriculture and Rural Development (GDARD) awarded the company a contract to deliver 200 motorised three-wheeled waste-collecting vehicles, commonly referred to as karikis or tuk…

THIS is not how it was supposed to be. Bafana Bafana’s Africa Cup of Nations qualifying campaign was meant to be sewn up by now. But such is the fickle nature of sport at the top that even the best laid plans can sometimes go awry. And they have done so in a big way for Hugo Broos and his team, haven’t they? Though yet to lose after four matches, the national team have dropped four points that have left them under some pressure going into the final two matches of the qualifiers next month. Bafana will travel to Kampala for a tricky clash against a Uganda side that almost beat them in the opening match at Orlando Stadium in September knowing that nothing can be taken for granted. They…

The moniker of any great team is to stare adversity in the face, take the heavy blows it throws as it attempts to beat you down, stand up bloodied, proud in defiance, and then show them what you are truly made of. Take, for example, the Springboks now just a year and a day or two ago. In the cauldron of the Stade de France, adversity had the look of 23 determined Frenchmen adorned in their finest Les Bleus, the Gallic rooster superciliously displayed on their jerseys, staring down their visitors as a heavily partisan 80 000-plus crowd frothed at their mouth in anticipation of victory. Lest we forget, the French started that quarter-final at the 2023 Rugby World Cup in Paris drunk on the fervour of manifest destiny, a…

Chumisa Qawe will celebrate her 25th birthday next month with a satisfied smile on her face following a successful WXV 2 campaign for the Springbok Women over the past few weeks. The powerful inside centre was one of the mainstays of the home team’s efforts in matches against three higher-ranked opponents – Japan, Australia and Italy – which took place in Cape Town as part of the preparations for next year’s Women’s Rugby World Cup in England. The World Cup draw will take place today in London, and the Bok Women – who are ranked 12th – are in Band Three alongside USA (ninth), Wales (10th) and Japan (11th). But considering their impressive displays Japan – whom they beat 31-24 – Australia (ranked fifth, 33-26 defeat) and Italy (ranked eighth,…