NEWSLETTER www.sapcc.co.za
SAPCC PREMIUM MEMBERS PARTICIPATE IN THE 4TH SA INVESTMENT CONFERENCE See page 2
March 2022
Draft legislation and proposed advance pricing agreement programme model published By Virusha Subban and Denny Da Silva See page 15
EXCELLENT NETWORKING AT THE MULTI-CHAMBER SPEED NETWORKING EVENT 2022
Portugal joins international partnership for space exploration
See page 5
See page 17
Lisbon hosts UN Ocean Conference from 27 June to 1 July
Young up-and-coming Portuguese motorsport star is setting a marker for a bright future
See page 9
By Ricardo de Freitas See page 20
Portuguese researchers have developed a noninvasive technique that characterizes lung cancer See page 12
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Developing a competitive mindset By Allon Raiz See page 22
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SAPCC PREMIUM MEMBERS PARTICIPATE IN THE 4TH SA INVESTMENT CONFERENCE
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SAPCC premium members participated in the 4th SA Investment Conference held on 24 March 2022 at the Sandton Convention Centre. This year’s conference returned to an in-person event and sought to build on the successes of the previous editions. It showcased the strengths and competitive advantages that South Africa has to offer and why it continues to be a competitive investment destination for local and international investors looking to grow in Africa.
following their current investment and pledged future investment in South Africa as part of their respective expansions.
SAPCC premium members Rangel Logistics, MCR Plastics and CR Moulds participated in this year’s event
CR Moulds was founded by Joaquim Rodrigues and his wife, Ana Tome in 2000. It specialises in the design and
Rangel Logistics Solutions, a global logistics partner with a presence in South Africa since February 2020. The reported additional investment reinforces Rangel's commitment to the African market, which includes the acquisition of its own fleet, growth of the local team to create 100 jobs by 2023, expansion of the warehouse space in Johannesburg from 2500m² to 5500m², the opening of new facilities in Zambia and at the SA border with Namibia (Nakop) and Botswana (Zeerust) in 2022 and several geographies in South Africa, including Durban and Cape Town, by 2023. “Our investment into South Africa has proven to be very positive for Rangel, surpassing our initial expectations in less than two years. This, coupled with South Africa’s strategic position on the African continent guaranteeing road connections throughout southern Africa, has led us to expand operations in order to meet the demands of our customers,” said Nuno Rangel, CEO of Rangel Logistics Solutions.
ARTICLE manufacture of moulds for injection of thermoplastics, die casting and tools for the automotive sector. In 2015 CR Moulds established a plant in Port Elizabeth in the Eastern Cape. The company supplies several automotive manufacturers such as (Volkswagen) VW, Skoda, BMW, Ford or Toyota, as well as other brands such as Siemens, Miele or Bosch. For the SA expansion, Joaquim Rodrigues joined forces with Edwina and Morgan Waterboer to found MCR Plastics, a B-BBEE level 2 company headed by Waterboer. Waterboer is a plastics engineer with more than 17 years’ experience in the OEM industry. The company’s investment allowed an expansion and investment in 1K and 2K injection moulding technology. MCR Plastics has integrated this technology into its manufacturing facility – a process of merging hard plastic with rubber in the same cavity during injection moulding, done by very few manufacturers in SA. This has allowed MCR Plastics to be approved as a Tier 1 supplier for VWSA and Tier 2 supplier for Toyota SA. “We are speechless. This SA Investment Conference has just shown how important the connection between Portugal and South Africa is, and no, we are not talking only on an economic level, not only regarding the business exchanged between the two countries, no! We saw, that through the environment that surrounded this whole conference, we are connected in terms and cultural ways that no one can imagine. People connect people, and we are here to stay,” said Joaquim Rodrigues. The investment drive was founded in 2018 by Cyril Ramaphosa, soon after becoming president of the country. He set a target of reaching investment of R1.2 trillion by 2023. He has so far managed to secure about R1.14 trillion in investment pledges, reaching 95% of target.
and Covid-19, among others. Ramaphosa nevertheless called on investors to contribute to the country’s growth, saying that it is focused on reform, recovery and rebuilding. He reaffirmed his commitment to put an end to the country’s power supply crisis, port inefficiencies, slow digital migration, skills shortage and failing stateowned enterprises, which have historically hindered economic growth. He also committed government to reducing the red tape involved in doing business in the country and facilitating economic reform that will allow for economic growth. The African Continental Free Trade Area (AfCFTA), which kicked in early 2021, added a new dimension to this year’s conference, in making South Africa a more attractive investment destination as a gateway into the continent. The AfCFTA brings together 55 African Union member states. South Africa has for long been the first choice of many foreign companies looking for a relatively stable country on the continent to establish their regional headquarters. Cabinet in a statement on Friday said it was in a period of growing African integration through the African Continental Free Trade Area (AfCFTA), which promotes intra-African trade. While the pledged investments are good news for SA, many caution that there is insufficient new money in greenfield projects. It is not a flood of investment coming into South Africa: it is more on a deal by deal basis, in specific sectors, where people can see an opportunity. During the panel discussions business representatives stressed what they needed the government to do to create a stable, investor-friendly environment anchored towards growth. There were calls on the government to focus on equipping young people with the relevant skills that will allow them to be significant economic participants.
At the 2022 conference, South Africa registered 83 direct announcements which amounted to R332 billion worth of fresh commitments from investors alone. So far, R316 billion of the R774 billion pledged in the previous annual investment conference has already been invested, while the rest is still in the processing stages. Before the 2022 conference, the country had registered 152 investment pledges; 45 of these have already been completed while 57 remain under construction and 15 are said to be on hold because of the Covid-19 pandemic. The provinces of Gauteng, KwaZulu-Natal (KZN) and the Northern Cape secured the largest investment pledges from big business securing about R30 billion, R22 billion and R16 billion respectively. In his opening address, President Ramaphosa was frank about South Africa’s current challenges, including the energy crisis, logistics inefficiencies, a skills shortage,
Joaquim Rodrigues and Morgan Waterboer at the Investment Conference
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Morgan Waterboer and Joaquim Rodrigues with Minister Patel and other panelists
President Ramaphosa at the opening address of the Investment Conference
Investment Conference panelists
Conference room
Minister of Trade and Industry Ebrahim Patel
President Ramaphosa with event panellists
Joaquim Rodrigues and Morgan Waterboer with panellists
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SAPCC EVENT
EXCELLENT NETWORKING AT THE MULTI-CHAMBER SPEED NETWORKING EVENT 2022 On the 23rd March 2022 at the Royal Johannesburg and Kensington Golf Club, Johannesburg, the SAPCC and Business Ireland SA (BISA) co-hosted a Speed Networking Event.
The feedback from the participants was once again overwhelming and the organisers were encouraged to continue repeating the event in future.
This annual event on the SAPCC events’ calendar is always a firm favourite amongst our members where participants get to directly network and promote their businesses at speed. This edition saw a return to a inperson event following last year’s online version.
10 tips for speed networking
The event was well attended with approximately 45 participants. SAPCC director, Tony de Gouveia welcomed everyone on behalf of the SAPCC and introduced his cohost Mark Peters. The facilitator, Mark Peters gave some valuable tips and guidelines on networking and how to get the best out of the event. Speed networking is a meeting format designed to accelerate business contacts. The format of the event was fast paced and structured to allow participants to interact with each other for 5 minutes on a rotation basis. This was tightly controlled by Tony and his bell. The event was fun, exciting and an effective way to make a lot of initial connections in a very different environment from the standard business networking meetings.
1. Come well prepared 2. Set clear and concise goals and objectives 3. Be honest and show respect 4. Define your personal brand 5. Prepare your elevator pitch 6. Prepare questions for others 7. Concentrate on the value you add; not what you do 8. Take notes 9. Follow up 10. Reciprocate
Thank you Tony de Gouveia and Mark Peters. Thank you to BISA for collaborating with us on this event. Photos: Rui Fragoso and Jorge Martins
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ARTICLE
Lisbon hosts UN Ocean Conference from 27 June to 1 July The Ocean Conference, co-hosted by the Governments of Kenya and Portugal, comes at a critical time as the world is seeking to address the many of the deeprooted problems of our societies laid bare by the COVID-19 pandemic and which will require major structural transformations and common shared solutions that are anchored in the SDGs. To mobilize action, the Conference will seek to propel much needed science-based innovative solutions aimed at starting a new chapter of global ocean action. Solutions for a sustainably managed ocean involve green technology and innovative uses of marine resources. They also include addressing the threats to health, ecology, economy and governance of the ocean - acidification, marine litter and pollution, illegal, unreported and unregulated fishing, and the loss of habitats and biodiversity. "We need to stand firm in our action path towards ocean health and sustainability. Oceans are a central part of the climate system and a source of resources for mankind. Today’s event is to draw attention to the fact that in June, Lisbon will be ocean" said the Minister of Maritime Affairs, Ricardo Serrão Santos, in promoting the event. "I don’t want to let this day go amiss, …without a word to the huge importance of equality in the ocean sector. Sustainable Development Goal 4 (ODS 14)– Protect
the oceans, sea, and marine resources – does not exist on it is own. All the goals are interconnected for a single purpose: a proposal of action for peace and prosperity for the planet and societies, in the present and in the future", Ricardo Serrão Santos added on the implementation of SGD 14 on the UN Agenda 2030, which the conference will focus on. "Informed citizens will support the effective implementation of political decisions concerning our seas, based on the best available knowledge. To mobilise the scientific community, academic institutions, the private sector, NGOs, philanthropic, civic, youth and child associations, as well as the entire civil society and social partners is detrimental to the success of ocean action", the Minister of Maritime Affairs reiterated. Liu Zhenmin, United Nations Under-SecretaryGeneral for Economic and Social Affairs, will serve as the Secretary-General of the Conference, and Miguel de Serpa Soares, Under-Secretary-General for Legal Affairs, will serve as the Special Adviser to the Presidents of the Ocean Conference on the ocean and legal matters. About the 2022 UN Ocean Conference The ocean covers 70 percent of the Earth’s surface, is the planet's largest biosphere, and is home to up
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ARTICLE to 80 percent of all life in the world. It generates 50 percent of the oxygen we need, absorbs 25 percent of all carbon dioxide emissions and captures 90 percent of the additional heat generated from those emissions. It is not just ‘the lungs of the planet’ but also its largest carbon sink - a vital buffer against the impacts of climate change. It nurtures unimaginable biodiversity and produces food, jobs, mineral and energy resources needed for life on the planet to survive and thrive. There is a great deal we still do not know about the ocean but there are many reasons why we need to manage it sustainably - as set out in the targets of Sustainable Development Goal 14: Life Below Water. The science is clear – the ocean is facing unprecedented threats as a result of human activities. Its health and ability to sustain life will only get worse as the world population grows and human activities increase. If we want to address some of the most defining issues of our time such as climate change, food insecurity, diseases and pandemics, diminishing biodiversity, economic inequality and even conflicts and strife, we must act now to protect the state of our ocean.
UN Decade of Ocean Science for Sustainable Development 2021 - 2030 A vast majority of the ocean remains unmapped, unobserved and unexplored. Our understanding of the ocean and its contribution to sustainability largely depends on our capacity to conduct effective ocean science - through research and sustained observations, supported by adequate infrastructures and investments. The Decade provides a common framework to ensure that ocean science can fully support countries’ actions to sustainably manage the ocean and more particularly to achieve the 2030 Agenda for Sustainable Development – through the creation of a new foundation, across the science-policy interface, to strengthen the management of the ocean and coasts for the benefit of humanity. Frequently Asked Questions Q- Why do we need a major conference on the ocean and why should I care about the ocean? The ocean matters to everyone, even if you don't live by it. Billions of people depend on the ocean for their main source of protein and millions of others draw their livelihood from the seas. Major economic activities, such as tourism, fisheries and trade, depend on a healthy ocean. The ocean is the primary regulator of the global climate. It supplies half the oxygen we breathe and absorbs a third of the carbon dioxide we produce. We also matter to the ocean and can play a significant role in safeguarding its health and sustainability. Climate change, for instance, continues to lead to, among others, rising sea levels and an increase in extreme weather events that directly threaten the lives and livelihoods of coastal communities, especially in Small Island Developing States.
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ARTICLE The forthcoming Ocean Conference will play an important role in putting in place a new chapter of ocean action - one that is driven by science, technology and innovation. It will also underscore the need to harness nature-based solutions including mangroves, salt marsh and seagrass that have been historically known to have major mitigation potential. The first Ocean Conference, which took place in New York in June 2017, showed the world the status of our ocean and the impact of human activities. We know that there are pervasive changes taking place below water. We also know that it is not a hopeless situation; there are solution to reversing the damage and allowing the ocean to heal. This year's Ocean Conference will bring together world leaders, scientists, the business community, change-makers and activists to join forces to inspire, create and invest in solutions. The conference expects everyone who can make a difference to step up and make the necessary changes needed to transform their policies, businesses and lifestyles into something more sustainable, and less harmful and exploitative. Q- In a world beset by diseases, political tensions, conflicts and economic problems, why the urgent focus on the ocean? Human health, economic prosperity, and a stable climate depend on a healthy ocean. Action now to address ocean problems will go far to promote sustainable development which is critical for a more equal, peaceful and healthy world. Basically, the short answer is that trouble for the ocean means trouble for people. A healthy ocean means a healthy planet – a planet that can better protect and sustain all living things that depend on it. Q- Are you expecting any concrete outcomes or commitments?
There are several outcomes, including three critical ones, expected at the Ocean Conference. The co-chairs of the conference, the governments of Portugal and Kenya, will report on the outcome of the conference. Member States will adopt a Declaration to implement and facilitate the protection and conservation of the ocean and its resources. We are also expecting stakeholders from governments and businesses to civil society to make concrete and realistic voluntary commitments to address the various ocean-related issues affecting their communities, countries and beyond. The eight thematic dialogues, including on marine pollution, ocean acidification, deoxygenation and ocean warming, sustainable fisheries and other oceanbased economies, scientific knowledge and marine technology, and the international legal framework for the conservation and sustainable use of the ocean and its resources, will review the opportunities and challenges with the ambition to advance commitments and action on wide-ranging ocean issues. A report from the relevant chairs is expected at the end of the conference. Q- Is recycling going to really help reduce plastic pollution in the oceans? Yes. Since 60 to 90 per cent of marine litter is made up of different plastics polymers, one of the main solutions for addressing marine pollution in our oceans would be to reduce our plastic footprint, including through efforts to reuse and recycle all plastic instead of throwing them away after one use and implement better waste collection on our shores. Source: https://www.un.org/en/conferences/ocean2022/about and https://www.portugal.gov.pt/en/gc22/communication/newsitem?i=lisbon-hosts-un-ocean-conference-from-27-june-to-1-july
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Portuguese researchers have developed a noninvasive technique that characterizes lung cancer Portuguese researchers have developed a non-invasive technique that, using threedimensional analysis of the medical image, allows the characterization of lung cancer. LuCaS (Lung cancer screening - A non-invasive methodology for early diagnosis) is the name of this project developed by INESC Technology and Science - Associate Laboratory, the Faculty 12
of Medicine of the University of Porto, the Centro Hospitalar Universitário de São João and the Institute of Molecular Pathology and Immunology of the University of Porto at i3S - Instituto de Investigação e Inovação em Saúde. Lung cancer is one of the most common and deadliest in the world. The biopsy is the method used for its diagnosis and characterisation, and although it allows obtaining valuable information, it could lead to certain
ARTICLE clinical issues. The LuCaS (Lung cancer screening - A non-invasive methodology for early diagnosis) project aims to make decision support systems in the characterisation of lung cancer more objective and quantitative.
the scope of the technology we are using will be more comprehensive than the biopsy itself, as it is based on three-dimensional data and is non-invasive. This way, it will also reduce costs significantly", concluded the researcher who leads the project. The project follows a "Radiogenomics" approach, i.e., it analyses the attributes of the image to describe and create mathematical models capable of identifying patterns and providing a prediction of the diagnosis, while relating characteristics of images with the analysis of genes collected during the biopsy. The project began in 2018, with several machine learning techniques developed thus far, using image information to predict the mutation state of lung cancer.
"The standard technique for assessing the mutation state of cancer resorts to biopsies, which generate highly reliable results, but are very invasive - in some cases leading to complications to the patients. Moreover, this technique is not able to characterise cancer globally, as only a portion of tissue is removed. An alternative solution is to make this characterisation using the radiological examinations through Computed Tomography, the same used for the initial diagnosis. Medical imaging allows obtaining a large set of useful information, according to a holistic approach comprehending a complete characterisation, providing opportunities to explore the relationship between the visual manifestations present in a medical image and the genetic profile of cancer, using a non-invasive approach", explained Hélder Oliveira, a researcher at the Institute for Systems and Computer Engineering, Technology and Science (INESC TEC). "In this sense,
The project also comprised a prospective component, in which a model was developed to evaluate contributions of liquid biopsies in the characterisation of lung cancer. "This approach will be of great value, as a means to obtain molecular data in a minimally invasive way, compatible with the clinical processes," said Hélder Oliveira. The LuCaS (Lung cancer screening - A non-invasive methodology for early diagnosis) is currently under development, bringing together researchers from INESC TEC, the Faculty of Medicine of the University of Porto (FMUP), the Centro Hospitalar Universitário de São João and the Institute of Molecular Pathology and Immunology of the University of Porto – IPATIMUP at i3S. The project is co-funded by the COMPETE 2020 programme under the Scientific and Technological Research Support System - SAICT, with an eligible investment of €239K leading to an ERDF incentive of €203K. Source: https://www.inesctec.pt/en/press-releases/researchersdeveloped-a-non-invasive-technique-to-characterise-lungcancer#content
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ARTICLE
Draft legislation and proposed advance pricing agreement programme model published
By Virusha Subban* and Denny Da Silva*
To provide clarity and certainty for taxpayers, and to bring South Africa in line with global tax practices, the South African Revenue Service (SARS) recently published draft legislation and proposed a model for the establishment of an advanced pricing agreement programme in the country. The advanced pricing programme model is comprised of seven sections, and is intended to ensure that multinational companies that must comply with transfer pricing
provisions are able to engage in a robust discussion with SARS prior to implementing the provisions, thereby reducing their exposure to audits and disputes. The South African Revenue Service (SARS) has published draft legislation and a proposed model for establishing an advanced pricing agreement (APA) programme in South Africa. The development of an advanced pricing model was recommended by the Davis Tax Committee and is in line with the creation of a world class tax facility that will provide clarity and certainty for taxpayers. The aim of such a model is to make it easier for taxpayers to comply with their obligations in South Africa, while also building confidence in the tax administration system.
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ARTICLE An advanced pricing programme is defined by SARS “an agreement for a defined period of time between an applicant, the competent authority of South Africa and the competent authority of another country, which has an agreement for the avoidance of double taxation with South Africa, regarding the advance pricing arrangement of an affected transaction between and among associated enterprises and connected persons in relation to the applicant.” The APA is relevant to multinational organisations operating in South Africa and to which the South Africa transfer pricing provisions apply. It effectively provides them with greater certainty for a defined period regarding the transfer pricing methods they apply. It does so by ensuring they have a robust discussion with SARS prior to implementing the policies, thereby reducing their exposure to time-consuming and expensive audits and disputes. The Proposed Advanced Pricing Programme Model According to the draft legislation, the model has seven sections, details of which follow below: • The first section details the APA pre-application process. This process includes details on sending a request for a pre-application consultation, the fees for doing so, the initial request for a pre-application consultation, screening, cost recovery fees and the decision by SARS. • The second section comprises information needed to submit a formal APA application, payment of fees, and the screening process to ensure the application is complete and acceptable. • The third section is the processing phase, during which a case will be allocated to a team for examination and analysis. Engagement regarding the application, regular progress reports and invoices, establishing of the SARS position, parameters for negotiation with a foreign tax authorities and details around the drafting of a preliminary APA agreement are included in this section. • The fourth section details the process of negotiation with the foreign tax authority in order to reach agreement, the sending of invoices, applicant input and possible amendments, as well as a decision by the application on whether to proceed. • The fifth section is the finalisation stage, which includes payment of outstanding fees, signatures of all parties and the dissemination of the agreement to relevant parties. • The sixth section involves implementation and monitoring, wherein the APA holder implements the APA and submits the compliance report, as well as compliance and audit reviews, the correction of non-compliance and amendment or termination procedures.
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• The seventh section includes termination/amendment/ extension procedures, which include the amendment and renegotiation process, which might be necessary due to changes in law or circumstance, or the termination process, which might be necessary because of fraud, misrepresentation or non-compliance, for example, or an extension process, with the necessary fees. According to SARS, the APA programme will be administered by way of notices in the Government Gazette, including the publishing of the parameters for the agreements, which parties are eligible to enter into an agreement, the quantum of relevant fees, the minimum value of the transactions that qualify and the procedures and guidelines for implementation. Potential challenges regarding the implementation of the model include the lack of transfer pricing skills in the country, which will require time to acquire and develop. The suggestion has been to exchange personnel between the new APA unit and the existing Transfer Pricing in the early days of development. Once the legislative framework is in place, a pilot project will be implemented that will accept bilateral applications, allowing time for personnel to learn from other jurisdictions and for capacity development to take place before the full programme, that includes multilateral applications, is introduced. Further feedback on the proposed APA model will be incorporated into the draft legislation. Taxpayer considerations Taxpayers to whom the APA programme will apply are encouraged to engage with their advisors and consider the following: • The nature of the transactions to be undertaken and whether these are straightforward or complex and therefore requiring certainty. • Whether the transactions to be covered would remain relatively the same or if they will vary. • The possibility of future transactions which may result in queries. • The cost and time to prepare the requisite transfer pricing documentation and whether an APA would reduce this. • The reputational risks associated with a dispute with SARS. • The impact of the Organization for Economic Co-operation and Development’s Pillar 1 and Pillar 2 on their business and whether an APA would be beneficial in this regard. * Virusha Subban is a Partner at Baker Mckenzie.
*Denny Da Silva is a Senior Tax Advisor at Baker Mckenzie.
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Portugal joins international partnership for space exploration The Institute for Systems and Computer Engineering, Technology and Science (INESC TEC) signed a Memorandum of Understanding (MoU) with the International Institute of Astronautical Sciences (IIAS) to establish a partnership covering six areas of intervention: science, technology, engineering, mathematics, education, and space research.
“We're proud to announce the signing of a MoU with Portugal. This partnership will strengthen the work developed so far, whose main objective is to ensure and promote the countries’ access to solutions in the space sector, and to improve life on planet Earth", said Jason Reimuller, founder of IIAS. "Our scientific and space exploration activities, from planetary geology to microgravity flight missions, are a unique opportunity to increase knowledge, and together we will be able to open many doors, so that everyone can be part of space exploration, towards a more sustainable future," he concluded. The Portuguese partner entities include the Portuguese Space Agency (Portugal Space), the Porto School of Engineering (ISEP) and the Faculty of Sciences of the University of Porto (FCUP). The partnership will
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ARTICLE promote equitable and inclusive access to innovative opportunities for collaboration and research. The teams involved will work together on different activities at the international level to promote advances in areas such as geosciences, robotics, bioastronautics and suborbital science. The agreement also aims at the development of collaborative research projects, facilitating access to top facilities, training, as well as contact with experts, towards disseminating the most important advances and discoveries.
João Claro, Vice-Chairman of the Board and CEO of INESC TEC, stated that “following INESC TEC's motto – from knowledge production to science-based innovation – we have crossed new frontiers in science and technology, as part of the Portuguese space ecosystem, not only in our region, but at national and European level. The recently concluded Memorandum of Understanding will strengthen our contribution to the advancement of space innovation, education, and culture, notably in the areas of robotics, geotechnology, sensors, STEM, outreach, etc., in partnership with our strategic partners. We have high expectations and are very focused on this MoU, and on this new era of space exploration. Partnerships, based on important skills at the space level, will be essential to leverage new challenges and opportunities for our institution, and for the country.”. This Memorandum of Understanding is the first agreement signed under Space For All Nations, an initiative by IIAS, where Rui Moura and Ana Pires (INESC TEC researchers) are Chair and Co-Chair, respectively. Space For All Nations enables emerging nations and communities in the space sector to participate and contribute significantly to new solutions and innovations to preserve the planet. Source: https://www.inesctec.pt/en/press-releases/
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Showcase
Young up-and-coming Portuguese motorsport star is setting a marker for a bright future
By Ricardo de Freitas*
Young Adult Portuguese Society (YAPS), in collaboration with the South African Portuguese Chamber of Commerce, is identifying and showcasing success stories of young Portuguese South Africans making a positive impact on society. In this edition we showcase Santiago Rodrigues Frade, rising Portuguese motorsport superstar in the making. Santiago is the eight-year-old son of Claudia Alexandra Figueiredo Rodrigues Frade and Michael Rodrigues Frade. They soon discovered that he had a great passion
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for motorsports and racing, "even before Santiago could walk, he wanted to sit in a go-kart."
Showcase Santiago, nicknamed "Nabo man", has the full support of his large Portuguese family, which allows him to succeed in competitions and be in the top five nationwide. His father/coach sees him grow in confidence and skill every day. He attends school at St. Martin’s Preparatory School. His hobbies are karting and karate.
the community well. The gentleman who runs ROK competiton is also Portuguese, Ricardo Perdigao. There is definitely a very healthy group of Portuguese racers and stakeholders.
Santiago started karting at the age of 3. His father, Michael, raced for 6 years with the support of his family, this naturally inspired Santiago's passion for wheels. So, the Christmas after he turned three, Michael decided to buy his son a used kart to see where his passion would take them. Since then, it has been a remarkable journey so far. Santi races in Johannesburg (Zwartkops Raceway, Formula K and Vereeniging Kart Club); Cape Town (Killarney Raceway) and KZN (iDube Raceway). There are currently two 2-stroke series. One is run by WOMZA (World of Motorsport South Africa) this is the Rotax series and the other is run by MSA (Motorsport South Africa) which is the ROK series. Santiago currently participates in both. Santiago’s racing schedule depends on the racing calendar setup by each series. Currently he races around 2 to 3 times a month but practices every weekend. The championship is split into a National, Regional and a Club championship. It is an intense job as the teams set to plot the different tracks, and work through all of the data obtained from their sessions. There's a data logger on the steering wheel that's activated via GPS recording. It shows all of the sectors of the track. Santiago discusses what needs to be worked on and where. He also has a PlayStation simulator on which he does his laps in a kart, trying to get faster and improve his lap times, just like the F1 teams have. At the end of 2021 Santi accomplished the following in the WOMZA (Rotax series): 6th in the National Championship, 3rd in the Northern Regions Championship earning him WOMZA full colours and 3rd in the Rand Kart Club Championship. In the MSA (ROK series) Santi accomplished 2nd in the National Championship, 1st in the Northern Regions Championship and 1st in the VKC All Stars Championship. This year Santi has graduated into a higher karting class called Micromax (WOMZA) and Kid Rok (MSA). In Micromax he managed 7th out of 14 in his first outing and and 5th out of 14 in his second race so far. In Kid Rok he finished 5th out of 11 in his first race. Racing is racing, it's very unpredictable and when things do not go well Santiago always comes back stronger to put his best the next time he is out on the track. There are a few Portuguese families in the Bambino group such as Diego Antunes and Rafael de Sousa. In the Micromax competition there is a few more with Rafael da Silva and in the Mini Max competition Joaquim de Oliveira represents. In Durban, the five-time DD2 Rotax world champion, Cristiano Morgado represents
When Santi and his parents started karting, they asked their sponsors to put their company logos on his karts. Most of the time you do not see them on the track, but they are definitely proudly displayed on Santi's Facebook and Instagram pages, his T-shirts and kit. After every race weekend, a message is sent to all of the sponsors informing them of the results, so that they know what's really happening as it happens. Santi knows that every time he goes on the track, he goes in honour of his sponsors and supporters. This is a lifestyle that teaches Santiago the most about life and humility. Beyond the track, Santi was kind enough to organise, along with some of his friends, a large donation of used clothing and toys for YAP's Winter Warmer Drive fundraiser in June 2021 for the Little Eden Society, which is a home for 300 children and adults with profound intellectual disability. He also assisted us by entering a team for the YAPS annual virtual charity quiz night. YAPS would like to congratulate Santiago for his resilience and humility by turning his dreams into a reality, we thank him for his support towards our charity initiatives, we will always be here to cheer him on. Força Naboman61! More information about Santiago can be found on his social media pages: Facebook page: Santiago Frade Naboman61. Instagram handle: @naboman61 About the Author *Ricardo de Freitas is a qualified chartered accountant of the South African Institute of Chartered Accountants serving as a Director of SAPCC and the Young Adult Portuguese Society. He is passionate about promoting Portuguese and South African businesses and individuals.
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Developing a competitive mindset Over the past 20 years, Raizcorp CEO Allon Raiz has learned many tough lessons and overcome many entrepreneurial challenges. He Allon Raiz has also had the privilege of learning from the journeys of over 13 000 entrepreneurs who have passed through Raizcorp. In a series of articles which SAPCC 22
By Allon Raiz*
will be sharing, Allon shares some of the most important lessons he has learned using a sequence that mirrors the typical stages of any entrepreneurial journey – from ideation through to scaling a business. I remember clearly the first day I realised someone hated me – not for my personality (or not that I know of), not for something I had done to them, but simply because I competed with them. I had become someone’s enemy simply because I competed. When you start your business, hopefully you’re obsessed with creating a valuable product or service and with solving problems and delivering value to
ARTICLE your clients. In that obsession, you miss the fact that every time you win over a new client, you are in turn displacing someone else in one way or another. Then the day comes, the question from your client, “What makes you better than Competitor X?” The right way to answer this question is to speak about what’s good about your organisation, your product, your service. But, often, clients force us into making a statement of categorical difference, “We are better than them because . . .”
If you don’t take the time and effort to understand your cost-per metrics in relation to your competitors, you will find yourself with a mouth full of teeth when you are asked the inevitable question, “What makes you better than Competitor X?” Most often, this will result in the loss of the sale.
In an instant, you psychologically and subtly move from creating a solution to competing. It then dawns on you that you are someone else’s competitor, that these people are sitting in boardrooms doing competitor analyses and spending day in and day out trying to crush you, to outsmart you, to beat you so you may disappear from the marketplace.
Now, I’m not saying that there is no space for cooperation, collaboration or coopetition. There most certainly is. But, by its very nature, business is competitive. Not building a competitive mindset early in your business journey will most certainly impact your ability to grow and thrive.
For some reading this, this may seem quite obvious but, in my time working with entrepreneurs, I have encountered an alarming percentage of small businesses that are afraid to compete. Once you realise you are in a competitive market, you must design your products and services in a way that obviously and intuitively highlights their unique selling propositions, their differentiators and all the reasons clients should choose you over your competitors.
You should see the first person who hates you just because you compete well with them and often beat them as a badge of honour, and get yourself used to collecting many of these badges.
The moment you are in a sales context, your clients or potential clients will almost always be forcing you to compare your product or service on an apples-forapples basis. You will certainly be competing on a costper-quality, a cost-per-output or a cost-per-somethingelse basis. In each one of these “cost-pers” you will
undoubtedly be compared with a competitor’s cost-per equivalent.
*About Allon Raiz Allon Raiz is the CEO of Raizcorp. In 2008, Raiz was selected as a Young Global Leader by the World Economic Forum, and in 2011 he was appointed for the first time as a member of the Global Agenda Council on Fostering Entrepreneurship. Following a series of entrepreneurship master classes delivered at Oxford University in 2014, 2015 and 2016, Raiz has been recognised as the Entrepreneur-in-Residence at the University of Oxford’s Saïd Business School. Follow Allon on Twitter: www.twitter.com/allonraiz.
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Os Diretores e Diretoras das várias empresas do Sapor Group
_____________________________________________________________________________________________________________ Michelle Martins (Diretora) – 082 923 4584 Americo Silva (Diretor) – 083 226 6782 No. 11 Jakkal Bessie Street – BASSONIA (off Comaro Road) – JOHANNESBURG TEL: 011 432 4321 • E-MAIL: info@sapor.co.za • Website: www.sapor.co.za Sapor Rentals (Pty) Ltd Registration No. 2005/025297/07 is a registered credit provider in terms of Section 40 of the National Credit Act 34 of 2005 Registration no. NCREP4854 – Certification no. 044442
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Endereços Úteis SAPCC 11 Smith Street, Bedfordview, South Africa Tel: +27 11 616 6420 • Email: admin@sapcc.co.za Advertising on Newsletter / Website: Rui Marto - rui@sapcc.co.za Membership / General: Manny Moutinho - admin@sapcc.co.za www.sapcc.co.za AICEP Portugal Global - África do Sul Trade and Investment Agency 599, Leyds Street, Muckleneuk, Pretoria Tel: +27 12 341 2340 Email: guilherme.lopes@portugalglobal.pt www.portugalglobal.pt
TOME NOTA
Sasfin Power Hour with
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SAPCC MEMBERSHIP
How the SAPCC can raise the profile of your business KEY BENEFITS of membership are: • Create networking opportunities The chamber’s most fundamental mission is to generate more business activity for its members. The chamber initiates business-to-business commerce and more opportunities for networking and connecting local business. • Increase your visibility in the community As a new member of the Chamber of Commerce, you will be listed for free in the chamber e-newsletter (1/3 page banner), website and social media. You also can grow your business by advertising with the chamber and sponsoring events. Our Business Excellence Awards also attract much publicity for the finalists. • Gain a voice in government Through the SAPCC’s representation in the EU Chamber of Commerce, the chamber takes on the tough issues and opposes new legislation.
• Receive chamber newsletters Newsletters provide new member information, interesting information about operating a local business, articles about the local community, a community calendar and details about up-andcoming chamber events, among other things. I attach latest newsletter for your interest. • Advertising Opportunities There are advertising opportunities for your business at discounted member rates on our website and newsletter. • Assist SAPCC in providing job and business opportunities for Portuguese youth. • Discounts or special offers made to members from other members or third parties. OUR BANKING DETAILS ARE: Acc. Name: SA Portuguese Chamber of Commerce Bank: Mercantile Branch Code: Bedford Centre / 450 205 Account Nr. 1050 6652 79 (Cheque account) Ref: [Your name] / Membership
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SAPCC MEMBERSHIP
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Inc.
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