Pietermaritzburg Chamber of Business

PORRITT CRIES FOUL AS JUDGE DENIES ‘IRRELEVANT’ QUESTIONS

Let it not be said that businessman Gary Porritt is one for allowing the law to take its course. In the dock, along with cohort Sue Bennett over the collapse of Tigon in 2002, Porritt is at odds with the judge over questions he wanted the state’s main witness, Jack Milne, to answer. For added spice, Bennett earlier insinuated that the judge's tax affairs were not in order. But that appears to be another red herring, according to the Moneyweb story here.

PIONEERING DAY CLINIC TO BOOST CITY MEDICAL OFFERINGS

Construction of the ZAR74 million Mediclinic Pietermaritzburg Day Clinic will begin in July 2018. This will be Mediclinic Southern Africa’s fifth clinic focusing exclusively on same day surgery. Day case surgery refers to patients undergoing planned, non-emergency surgical procedures who are admitted and discharged on the day of surgery. Examples of typical day surgery include ear, nose and throat surgery such as a tonsillectomy, facial and oral surgery, including wisdom tooth extraction and dermatological procedures as well as gastroscopies and colonoscopies. The purpose-built facilities will include three theatres, a procedure room, nine consulting rooms and additional parking. The new clinic set to open its doors in October 2019. (MSA)

KZN LOOKS TO BOOST TOURISM THREEFOLD

The KZN tourism sector aims to triple its current contribution of ZAR24 billion to the provincial GDP to between ZAR65 billion and ZAR98 billion over the next two years. The ambitious growth is contained in the Tourism Master Plan, according to KZN MEC for economic development, tourism and environmental affairs Sihle Zikalala who addressed a business breakfast at the annual Tourism Indaba. The plan also hopes to create 183 000 direct jobs and attracting 3.4 million international visitors and 24.1 million domestic visitors by 2030. The plan is underpinned by a raft of infrastructure projects aimed at increasing its domestic and international tourism share. These include the Tinley Manor Beach Resort (ZAR1.2 billion), Blythedale Coastal Resort (ZAR350 million), Point Waterfront facelift (ZAR40 billion), Warwick precinct upgrade (ZAR1.3 billion) and the Centrum government precinct development, including extensions to the Inkosi Albert Luthuli International Convention Centre (ZAR9.3 billion). (DEDTEA)

FIGHTING CORRUPTION TOPS NENE’S AGENDA

National Treasury is not “paying lip service” when it comes to the fight against corruption, said finance minister Nhlanhla Nene. The minister briefed the standing committee on finance in parliament yesterday about Treasury’s strategic plan and shed some light on areas Treasury will be prioritising over the coming year. Apart from being committed to driving “faster economic growth” and encouraging “significant new investment” in the economy through boosting investor confidence, Treasury is also focusing on its commitment to “ethical behaviour” and “ethical leadership”. “We are geared to fighting corruption, [we are] not paying lip service,” he told the committee. Treasury is both funding and supporting the commission of inquiry into state capture, by providing information on state-owned enterprise (SOE) procurement payments, and other forensic investigation reports. Treasury will also provide expert witnesses when required, he said. Among Treasury’s priorities include rebuilding of the South African Revenue Service, and stabilising SOEs. (Fin24)

RESURGENT PROPERTY INDEX SETS THE TONE

After a dismal Q1 2018, the property index became the best asset performer in April. With a total return (capital appreciation and dividends) of 7.68%, it outperformed equities (5.4%), cash (0.62%) and bonds (-0.68%). But the index has a long way to go as it is still down 18% for the year. Resilient’s troubles were the main drawdown for the sector in Q1 2018. An independent report commissioned by Resilient found no foul play in terms of insider trading or market manipulation. The market remains unconvinced, however, with Resilient still down 61% in 2018. Fortress B is down 62%, Nepi Rockcastle 37% and Greenbay 47%. Other issues continue to affect the sector, including Rebosis CEO Andile Mazwai’s unexpected resignation and Hammerson’s decision to walk away from its intended takeover of Intu. (BDLive)

HOUSING TARGET OUT OF REACH

As violent protests over land and housing erupt periodically across the country, the government has confirmed that it will build fewer houses than expected over the next year and is likely to miss its five-year target by more than 100 000. The department of human settlements planned to build 745 000 houses from 2014 to 2019, according to the government’s medium-term strategic plan but has now reduced this to 635 000. With only one year to go before the five-year term of the plan ends it has only built 415 000 houses, an indication that even the new target will be hard to reach. The revised targets are due in part to underperformance but also to budget cuts made in February, which came about through a re-prioritisation of spending to find ZAR57 billion needed to fund free higher education. (BDLive)

SA NO LONGER FEATURES ON GLOBAL GOLD MAP

Global gold production is expected to hit a record high this year, but SA, once the dominant player in world gold output, will play no part in the forecast. Precious metals analysts GFMS warn of a "strong decline" from the country, continuing its downward trajectory. SA was for decades the largest source of mined gold in the world, but after 140 years of mining, the operations have become older, deeper and more dangerous. Falling grades, rising costs and declining labour productivity, coupled with an uncertain regulatory environment, have resulted in a precipitous drop in little more than a decade. The local industry now employs fewer than 117 000 people from 180 000 in 2004. It is now in eighth place in global gold production rankings, barely higher than Mexico. It is also the most expensive place by far to mine gold, according to the latest report from GFMS. SA clung to its eighth place despite gold production falling to 140 tonnes from 146 tonnes in 2016. A decade ago SA generated 234 tonnes. China retained its top spot in 2017 with output of 426 tonnes. (BDLive)

WHAT IS SOUTH AFRICAN NATIONALITY WORTH?

South Africa ranks 92nd out of 168 countries for its general quality of nationality, according to the latest Kochenov Quality of Nationality Index (QNI) by Henley & Partners. For its travel freedom South Africa is ranked 82nd, for its settlement freedom 50th, and for the external value of its nationality 91st. Last year South Africa was ranked 87th for its general QNI. The best ranking it had the past seven years was 79th in 2011. Using a combination of quantifiable data, the QNI measures the internal value of a nationality. This refers to the quality of life and opportunities for personal growth within a country of origin. It also measures the external value of a nationality, which identifies the diversity and quality of opportunities a nationality allows its citizens to pursue outside their country of origin. France came out tops in the world for its quality of nationality with a score of 81.7% out of a possible 100%, followed by Germany, Iceland, Denmark, Netherlands, Norway, Sweden, Finland, Ireland, Switzerland and Austria. (Fin24)

TRUMP’S IRANIAN DECISION TO IMPACT SA RELATIONS

The Iranian ambassador to South Africa said yesterday that he hoped US president Donald Trump’s decision to withdraw from the Iran nuclear deal would not affect the relationship between South Africa and Iran, but history shows this is likely. Trump yesterday announced his decision to withdraw from the widely-praised deal‚ and also announced that the highest level of sanctions would be imposed on Iran. He added that any country which continued to support Iran also risked sanctions being imposed on them. These pronouncements and decisions could have significant implications on trade plans between South Africa and Iran. Previously‚ sanctions imposed on Iran by the US saw a big decline in trade between the countries. Oil sales were particularly hard hit. In 2004‚ according to StatsSA‚ South Africa bought 8 million tonnes of crude oil from Iran‚ and the country was the third-biggest exporter of oil to South Africa in 2011. However‚ due to the US-imposed sanctions‚ this dropped to zero by the middle of 2013‚ and it has yet to pick up again. (BDLive)

Simply Communicate Workshops

What are you doing to get the right employees and energise them to take your business further? Join Ian Webster at the Pietermaritzburg Chamber of Business for one of these great workshops. As one participant said: ‘Simply put and well communicated.’

15/05/2018 Recruitment
Who you employ determines whether you tick boxes or drive a vision. Having the right people is your competitive advantage. And it all starts with hiring. Most managers think they get better at recruitment through practice. We don’t - only through reflecting on our practice. Improve the quality of your hiring decisions by reflecting on best practices and understanding legal obligations.

13/06/2018 Customer Service NEW
We spend time on Product, Price, Promotion and Place which have to be right, but it’s the little things, done relentlessly, day after day that will make your company great. We serve customers through our employees. Empower your employees to focus on what matters every day for every customer.

All Workshops 08h30 - 12h30.
Cost per workshop: R710pp; 3+ delegates R670pp; NPOs R630pp.
Bookings: Ian Webster 083 321 0699 or ian@simplycommunicate.co.za

Simply Communicate: People-management expertise for your workplace

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