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CELEBRATING OVER CAKE AND COFFEE

(ltr) Patron Rose van Huyssteen, Coffeeberry Cafe owner Con Malherbe and stalwart Colleen Ndawonde with the celebratory cake.

There was plenty reason for the smiles at Coffeeberry Cafe on Friday, July 13 when it toasted its 13th anniversary. To mark the milestone, proprietor Con Malherbe commissioned a celebratory cake from Sagewood Cafe that was shared with customers and staff, some who have walked the journey with Coffeeberry Cafe since it first opened its doors in 2005 at the precursor to the Cascades Lifestyle Centre. Among the guests included long-standing patron Rose van Huyssteen, and long-serving Colleen Ndawonde, one of several staff  members who have been part of the Coffeeberry story since inception.

   
   
 
     
  Today in History  
     
 

1955: Disneyland opens its doors for the first time in Anaheim, California.

Today is observed as World Day for International Justice
and also as World Emoji Day.

 
     
  News worth knowing  
     
 

COUNTING THE COST OF BEING GOVERNED, BADLY

With 37 ministers, including the president and his deputy, 37 deputy ministers, nine provinces with a combined 100 MECs, and 263 municipalities, the cost of keeping the gravy boat afloat is diverting resources better spent elsewhere. But don’t hold your breath, a deeply entrenched bureaucracy knows how to look after itself. Here’s the link.

 
 

DOMESTIC GROWTH PROSPECTS CLOUDED BY GLOBAL OUTLOOK

While SA is on track for growth, the risks to global growth are mounting, according to the International Monetary Fund (IMF). The IMF’s latest world economic outlook released yesterday showed that growth in SA was expected to pick up in the second half of 2018, with expectations of growth of 1.5% in 2018 and 1.7% in 2019. However, while the IMF continues to project global growth rates of 3.9% for both 2018 and 2019, it warned that the risk of worse outcomes had increased, even in the near term. The rate of expansion appears to have peaked in some major economies and growth has become less synchronised, reads the outlook. As dark clouds threaten global growth, the IMF has urged governments to pay more attention to economic equity among citizens. (BDLive)

 
 

HOLOMISA MUZZLED OVER PIC CORRUPTION CLAIMS

The North Gauteng High Court yesterday granted an order gagging United Democratic Movement (UDM) leader Bantu Holomisa from continuing to allege that a major BEE investment firm and prominent business figures may be involved in Public Investment Corporation (PIC) corruption. Judge Vivian Tlhapi said she would give reasons for her decision "soon"‚ but Holomisa said he intends to challenge the ruling. Lebashe Investment Group‚ Harith General Partners and Fund Managers and former deputy finance minister Jabu Moleketi are among the applicants who took Holomisa to court – after he wrote an open letter to president Cyril Ramaphosa implicating them in alleged PIC looting.(BDLive)

 
 

A HUFF AND A PUFF, AND THE POST IS GONE

Media24 has announced it is ending its publishing arrangement with global internet media brand, HuffPost. In a statement on its website, HuffPost SA said: "Today Media24 and HuffPost announce plans to mutually end its SA licence." The company said it was a routine decision and was being made despite "strong" audience numbers because advertising revenues were "challenging". The story said staff members were "being consulted". (BDLive)

 
 

BDO SHARPENING ITS CLAWS TO TAKE ON BIG FOUR

BDO is gearing up to audit banks and challenge the big four’s dominance in financial services. Brussels-headquartered BDO is an international network of tax, accounting and advisory firms in 162 countries. It employs 74 000 staff and posted global revenue of US$8.1 billion (about ZAR107 billion) in 2017. A deal between BDO SA and Grant Thornton, which would add the latter’s Johannesburg office to BDO following the integration of its Cape Town and Port Elizabeth arms, would create SA’s largest mid-tier accounting firm, with turnover in excess of ZAR1.2 billion, the companies said. The transaction, which would create a firm of 1,500 staff, would position BDO as a "credible alternative to the four largest auditing firms in SA".  These are Deloitte, KPMG, PwC and EY. (BDLive)

 
 

IS ENATIS SAGA FINALLY COMING TO AN END?

The protracted legal battle between the electronic national traffic system (eNatis) developer Tasima and the department of transport could finally come to an end with the Constitutional Court due to hand down judgment on the matter today. Tasima was awarded a crucial contract by the transport department in 2001 to implement and run eNatis from 2002. The system allows the department to manage the licensing of all vehicles in the country‚ learner driving licences, driving licences and roadworthiness tests. It also ensures that stolen vehicle details are communicated countrywide and prevents the fraudulent re-registration of stolen vehicles. The contract was for five years effective from June 1, 2002, after which the system would be transferred to the department. Tasima continued to provide services on a month-to-month basis and In May 2010, the contract was extended for five years by the then director-general of the department, despite warnings that the extension was in breach of section 217 of the Constitution and section 38 of the Public Finance Management Act. (BDLive)

 
 

NEW AGRICULTURAL ENTITY EYES 2020 LISTING

Newly-formed agricultural giant Acorn Agri & Food (AAF), estimated to be worth at least ZAR4.3 billion, has pushed its JSE listing to the second half of 2020 as it tweaks its portfolio. AAF was formed in May by the merger of Somerset West-based agribusiness investor Acorn Agri and Caledon-based agricultural services group Overberg Agri. This new hybrid agribusiness, which has African Rainbow Capital and Sanlam Private Wealth as key backers, initially slated a JSE listing "in the near future" if conditions were favourable. CEO Andre Uys said AAF would want to sell off its remaining minority holding in Pioneer Foods, invest surplus cash and improve profit flows at a couple of under-performing businesses. (BDLive)

 
 

MANYI’S MEDIA HOPES PERISH IN VBS BANK SCANDAL

The VBS Mutual Bank saga took another twist yesterday when it emerged that the newspaper business of staunch Jacob Zuma supporter Mzwanele Manyi, which he bought from the Gupta family, banked with the lender that failed due to alleged fraud by its directors. In court papers asking for TNA Media to be urgently placed under provisional liquidation, Manyi said the company’s operational bank accounts were held with VBS, which was placed under curatorship in March, and the freezing of all its operation’s accounts by the bank had "severely affected" the business. The liquidation only referred to the newspaper, the former The New Age, most recently known as AfroVoice. The last edition was printed on June 29. Manyi’s AfroTone Media Holdings also owns the 24-hour news channel Afro Worldview (formerly ANN7), which is held under Infinity Media and is not affected. However, Afro Worldview’s contract with MultiChoice, which allows it to be carried on DStv, expires in August 2018.

 
 

CARRYING COAL TO COST ESKOM A PACKET

Cash-strapped Eskom may pay as much as R100m a month in a desperate bid to truck coal stockpiles from Limpopo to supply two power stations in Mpumalanga, 400 km away. An estimated 200 trucks will leave Lephalale daily in a bid to transport 1 million tonnes of Medupi coal to its Kendal and Kusile power stations. The enormous operation puts into perspective the severity of the coal supply crunch Eskom faces. Already in the grips of a financial crisis, it will now incur significant additional costs in procuring coal over and above an ongoing wage negotiation. The stockpiled coal comes from Exxaro’s Grootegeluk mine and was intended to feed the long-delayed Medupi power station, but due to a take-or-pay coal supply deal with the miner, the stockpile has grown to about 20-million tonnes. (BDLive)

 
 

AMPLATS’ UPBEAT EARNINGS LEAVE INVESTORS COLD

Anglo American Platinum’s guidance that interim headline earnings are anticipated to increase four-fold when it releases results next week received a muted response from investors, with the share price rising just 3.5% yesterday. This failed to even fully reverse a share price loss of 4% on Friday. Analysts say the jump in earnings was higher than consensus analyst expectations and accounted for up to 80% of the estimated full-year earnings expected by the market consensus. But he said the disappointing share price reaction suggested the market either expects some one-off benefits in the numbers or consensus numbers may just have been stale. In the trading statement for the six months to end-June, Amplats said that headline earnings for the period were likely to increase to as much as ZAR3.415 billion compared to ZAR747 million last year. Basic earnings for the period are likely to increase to as much as ZAR2.270 billiion, compared with a loss of ZAR1.187 billion. (BDLive)

 
 

MTN SELLS OFF CYPRUS BUSINESS

MTN has sold its Cyprus business for about ZAR4 bIillion cash to Monaco Telecom. "MTN Cyprus is MTN’s only operating business in the EU, and was acquired as part of MTN Group’s acquisition of telecoms holding company Investcom in 2006. It falls outside the group’s core footprint of Africa and the Middle East," MTN said yesterday. The transaction is expected to be completed by the end of September. (BDLive)

 
 

DHL TO TAKE AFRICA TO THE WORLD

International express services provider DHL announced a partnership with e-commerce company MallforAfrica’s new platform, Marketplace Africa. The aim is to help online retailers bring African-made products to the US and global market. The site offers items from African designers and artisans from a variety of categories including fashion, body care, handbags, jewellery and home décor. Marketplace Africa was created to help artisans sell on a global stage and simplify the ability to buy directly from African craftspeople and small enterprises. DHL will manage all logistics services. Marketplace Africa will provide craftspeople and customers order verification, fast delivery, and shipment labelling and packaging services. (Fin24)

 
 

MORE NEWS, NOTICES AND APPEALS

 

OLD PRISON MARKET IN HONOUR OF MADIBA

To celebrate Nelson Mandela’s 100 birthday, and in view of suggestions that the South African statesman had spent a night or two in the Old Prison in Pietermaritzburg, Project Gateway will host a Nelson Mandela Art and Craft Market Day on Saturday, July 21. Food and beverages will be for sale and all profits will go to Project Gateway. Its state–of–the art digital museum will be open for tours at ZAR20 per person with a discount for pensioners and children under 18 years old. Entry to the market from 10 am to 5 pm is free. For more information, contact Nokothula Ndluvo om 082 080 1808.

 
     
  Advertorial  
     
   
 

Innovative Thinking
 

ERYF Series

The third session in our new “Employers reduce your frustrations” sessions.

Book your team members for this session and reduce another of your frustrations.

Great value here as a refresher for management and staff.


Specific outcomes
•    Essential to staying relevant
•    Question the status quo
•    Consider the world from a variety of views
•    Look for the root causes
•    Practice a range of ideation techniques
•    Evaluate solutions to problems
•    New product ideas or other innovations. 

 

→  Book Now:  Shân Cade | shan@shancade.co.za | 078 801 0896
 

•    Cost:     R620 pp or R550 pp for 2 or more people
•    Venue:  PMB venue
•    Date:     25 July 2018
•    Time:    08:30 to 12:30


(Terms and Conditions Apply)
www.shancade.co.za

 
     
  events  
     
 
24 JULY 2018
 
 

THE NEW RETAIL CONSUMER

TRAINER:  Uraisha Haswell – Penny-Whistle Projects
Time:  08:30 – 12:30
Venue:  Chamber House, Royal Showgrounds
COST (includes vat)
Members: R635-52 p/p, R605-27 p/p for 3/more, R554-83 p/p for 5/more
Non-members: R736-40 p/p, R706-15 p/p for 3/more, R655-71 p/p for 5/more
OVERVIEW
Uber Eats. Mobile supermarkets. Drone deliveries. Online shopping. Payment apps. 
The rules of retail are changing. 
More than that, the retail consumer is changing. 
Are the traditional retailers ready for this New Retail Consumer?  

The seminar will cover altered and enhanced consumer experiences. “Experiential” does not necessarily mean entertainment. The impact of the on-demand economy: extending a stores’ function as well as uplifting service levels. The changed consumer mind set and how that, in turn, has altered communication channels and platforms. The rise of the Township Economy and the technologies that are democratising that supply chain. And who is this new teenage shopper? 

Join me for an eye-opening journey through the changing environment of retail and the New Retail Consumer.

WHO SHOULD ATTEND
Anyone involved in retail, marketing to consumers or businesses looking to target various segments.

 
   
     
  QUOTE  
     
 
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No one saves us but ourselves. No one can and no one may. We ourselves must walk the path.

Buddha

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  financial indicators  
     
 
Dollar R13.24 - 0.25%
Pound R17.54 - 0.34%
Euro R15.53 - 0.45%
Yen 0.117924  
Repo 6.50  
Platinum $ 826.00 + 0.98%
Gold $ 1243.00 + 0.24%
Oil $ 71.80 - 4.59%
All Share 55442.04 - 1.64%
Prime 10.00  
 
 

These rates are correct at time of going to press.