Top 500 | 12th Edition

Be a part of the transformation.

19-20 July 2023

For more information contact our Head of brand: Lee-Anne Bruce at lee-ann.bruce@topco.co.za

CONTENTS

CONT E NTS UPFRONT

EDITORIAL

8 | Contributors

12 | Cover story

8|

INVE STING IN SOUTH AFRICA

Featured clients

30

9 | Editor’s letter 22 | Ten multinationals choosing South Africa 28 | Who owns the Metaverse?

12

30 | Investment opportunities in South Africa

34

34 | Making profits and making a difference 38 | Why aren’t we developing African IP?

L E ADERSHI P 42 | Global Citizens: Meet 5 young South African leaders 46 | What it takes to be a leader in the post-pandemic era 48 | The superpower every business leader should know 50 | Four problem-solving techniques you should know

57 | Staying relevant: CX trends to avoid

4 | TOP500 | 12th Edition

46

CONTENTS

76

64

80

SECTO R OVERVIEWS 60 | Cement 64 | Manufacturing 66 | BEE 72 | Energy 74 | Transport & Logistics

82 84

90

76 | Engineering 80 | Accounting & Consulting 82 | Asset Management

96 INT ERVIEWS 84 | Kenneth Kayser 90 | Zandile Mposelwa

92

98

92 | Zuko Mdwaba 96 | Sandras Phiri 98 | Rob Godlonton

12th Edition | TOP500 | 5

CONTENTS

87 P OD CASTS 87 | Joylynn Kirui

89

88 | Bob Moesta 89 | Mike Abel

95

95 | Lelemba Phiri

TIP S & ADVI C E 102 | How to build a subscription-based business

88

104 | When tax season looms: Here 6 possible deductions you can claim 108 | How to set better goals 110 | 6 ways to ensure you employ the right people 112 | Ensuring employee wellbeing = investing in productivity 114 | Changing times: Consumers reimagined

108

102 6 | TOP500 | 12th Edition

| editorial

Credits C EO Ralf Fletcher

A SSO C I AT E PU B L ISH E R

AT THE BAC K

Twaambo Judy Chileshe

PROJ ECT M A N AG E R

116 | How we rank the Top 500

Odelia Fester

TOPCO STUDIO

118 | Index

PROD U CTION DIR ECTOR Van Fletcher

126 | A-Z Listing

G RO U P E DITOR Fiona Wakelin

112

A SSISTA NT E DITORS Koketso Mamabolo Sinazo Mkoko G R A PHIC D E SIG N E RS Nicola Peacock Nasreen Emeran R E PRO Artizan Designs TRA FFI C M A N AG E R Daniël Bouwer R E S E A R C H E RS Veronique Anderson Inshaaf Bardien Brett du Toit I M AG E S iStock Pexels Unsplash PRINT E RS LAWPrint H E A D O FFI C E Top Media and Communications (Pty) Ltd T/A Topco Media 2nd Floor, Elkay House 186 Loop Street, Cape Town. 8001 Tel: 0860 009 590 Email: info@topco.co.za Website: www.topco.co.za DISCLAIMER All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted, in any form or by any means, electronic mechanical, photocopying, recording or otherwise, without the prior written consent of Top Media & Communications (Pty) Ltd T/A Topco Media. Reg.

114

No. 2011/105655/07. While every care has been taken when compiling this publication, the publishers, editor and contributors accept no responsibility for any consequences arising from any errors or emissions.

ISBN: 9780620500746

7 12th | TOP500 Edition | 12th | TOP500 Edition |7

Contributors/ FEATURED CLEINTS

CONTRIBUTORS Balkissa Idé Siddo Public Policy Director, Africa at Meta

Catherine Black Co-Founder of Black Mountain Agency

Chandré Emma Kippie Features Editor: Fashion at Dentsu Creative

Derick Kirk Writer & Content Creator

Jessie Taylor

F EATUR ED C LIENTS

Writer

ACTOM

Motlatsi Mutlanyane

AECI

Head of Alternative Investments, and Egon Soontiënsm, Research Analyst at Momentum Investments

Mpho Hlefana Executive: Product, Solutions and Sales Segment Marketing at BCX

Professor Ahmed Shaikh Managing Director of REGENT Business School

Richard Firth

Afrisam ARMSCOR Aspire Solutions Boniswa Corporate Solutions Elite Wealth Management

CEO o f MIP H ol d i n g s

Honeycomb BEE

Tom Marsicano

Johnson & Johnson

CEO o f ‘an d Ch an g e ’

Usha Maharaj Executive & Leadership Development Coach

Yael Geffen CEO o f Lew Ge ffe n S ot h e by ’s Internatio nal R eal ty

Zain Patel Ma na g in g Dire c tor at Me rch an t s

8 | TOP500 | 12th Edition

MultiChoice Omnia Holdings PP C

EDITOR’S LETTER

Ed i tor ’ s Let t er 2022 – where did you go? I feel like I just blinked! And yet, this was a sea change year, the year that showed the light at the end of the tunnel was not a train. After “building the ship as we sailed it” for two years to navigate the tsunami of the pandemic’s new normal, some semblance of hope has emerged and green shoots have started to appear in economies around the globe.

Here at home we lifted restrictions and people came out of lockdown, joyful at the possibility of being social and interacting with “real” humans – pajamas pants were replaced with something wearable in the great outdoors, and lipstick sales started picking up again (although Revlon was one of the casualties which did not make it in the corporate world).

Topco had pivoted to digi-first for our publications and our events as COVID hit – for two years this was our business model and it was really heartwarming to see the energy, positivity and enthusiasm which greeted the introduction of our first hybrid event – Africa Tech Week – at the Cape Town International Convention Centre this year. This model enabled us to have the best of both worlds – one-on-one interactions, plus the presence of experts and thought leaders joining from around the globe.

In keeping with the offering of world class content, Top500 celebrates South Africa’s best managed companies and the listing in the publication - which reflects some of the dramatic changes in the business landscape during this time - is a key resource for investors, supply chain managers, talent scouts and those who wish to benchmark themselves against the top organisations in the country – so it is fitting for us to have as our cover icon MultiChoice CEO Calvo Mawela, whose story is an inspiration to us all.

In this bumper 12th edition we have an impressive array of content looking at Leadership, Investing in South Africa, Sector overviews, Tips & Advice, Interviews and Podcasts. In the upcoming pages you will find articles on topics such as 10 multinationals choosing to do business in SA; Investment opportunities across multiple sectors; What it takes to be a leader in the post-pandemic era; South Africa’s global citizens;

How to ensure employee well being – and that you are hiring the right people! We also have a fantastic array of podcasts and interviews including Joylynn Kirui from Microsoft, angel investor Lelemba Phiri, Zandile Mposelwa from Kellogg SA and Telkom’s Kenneth Kayser.

This publication would not have been possible without the amazing team I work with – Van Fletcher, Director; Koketso Mamabolo, Assistant Editor; Sinazo Mkoko, Assistant Editor; Nasreen Emeran, Designer; and Daniël Bouwer, Traffic Manager.

We hope you enjoy the read.

FIONA WAKELIN Group Editor

12th Edition | TOP500 | 9

In case you missed it, our annual Standard Bank Top Women Conference took place on the 12 -13 October 2022. Here is a look at just some of the highlights throughout the 2-day conference:

We trended No. #1 on South Africa’s Twitter trends throughout the conference

Over 47 000 views on our Instagram Filters and Stickers

We dropped our very first Swag Bag - and completley sold out!

Amazing feedback on all platforms from our delegates

Over 15 000 photos were taken by our delegates at the Virtual Photo Booth

We hosted SA’s most influential women such as Zozibini Tunzi, Terry Pheto & Shannon Esra

Givewaways from partners including Uber, MSC, Veldskoen & more

Scan the code to watch the official highlights video

Brought to you by

topco media

In partnership with

cover story | multichoice

is my heartbeat Interview with MultiChoice

Group CEO, Calvo

Mawela

By Fiona Wakelin and Sinazo Mkoko

W

hen the COVID-19 pandemic hit South Africa, no one knew how things would turn out, no one knew that we’d

be introduced to restrictions and lockdowns forcing us to stay in our homes for months but what was clear to MultiChoice was that millions of people would be depending on their televisions for information and entertainment.

The company brought hope, entertainment, education, comfort and a sense of community

during a dark and difficult time.

Enriching lives MultiChoice - Africa’s leading entertainment company - is on a mission to use the power of entertainment to enrich lives through showcasing compelling local and international stories, which bring people together around a shared passion.

Leading and guiding the team is Group CEO, Calvo Mawela. Hailing from humble beginnings in Bushbuckridge, Mpumalanga, the 43-year-old took over in November 2018. He had been the Chief Executive Officer of MCSA after holding the position of Head of Stakeholder and

12 | TOP500 | 12th Edition

multichoice | cover story

Regulatory Affairs and Executive in the Chairman’s office. Previously he was an engineer at Sentech and a Broadcasting Spectrum Manager at ICASA. Humble beginnings Touching on the career path that led him to his current position, Calvo said as he grew up, he had aspired to be an engineer.

“Coming from a poor background, I knew that my mother would not even be able to afford to buy me a bus ticket to university. But as soon as I completed my matric, and said I wanted to be an engineer, she was determined to help me pursue this goal. This meant going to a loan shark and paying exorbitant interest rates - the story has a happy ending because I did not let her down and completed my engineering degree.”

We estimate that the television market is up to 60 million households and we are just sitting at 22 million, which means we still have a long runway for us to continue to grow into the future as long as we execute as well as we’ve executed in the past and that’s exciting.

Pushing boundaries Today, telling stories, sharing information and entertaining Africa rests on his shoulders, with a viewership of an estimated 100 million people across the continent.

“If you think about it, an average

time. The answer was that they’d need

household in an African home has

information, entertainment, and they’d

five members watching television.

want to be educated as well, on many

This means that everyday we are

fronts. I told the teams that we were

entertaining 100 million people. And

well-positioned to bring all these three

what’s exciting about Africa is we still

elements into a person’s home in the

have a big market that has not even

most cost effective way.”

taken up pay television. We estimate that the television market is up to 60

He added that they partnered with

million households and we are sitting

various organisations and government

at around 22 million, which means we

departments to ensure that they

still have a long way for us to continue

delivered on their mandate.

growing into the future as long as we execute as well as we’ve executed in the

“We partnered with Udemy to bring

past - and that’s exciting.”

more courses to people. We partnered with the Department of Higher

Sharing how COVID-19 has impacted

Education and Training to make sure

the company, Calvo said when the

that we brought high school material to

pandemic hit, realising what the world

kids across the continent. We made sure

was facing, he went around various

that we had a discussion with our news

divisions within the organisation

channels for them to really prioritise

and told them that it presented an

information around the pandemic. We

opportunity for the company to be

also brought in the likes of the United

appreciated for what they bring to

Nations and the WHO to ensure that

people across the continent, especially

we provided correct information, for the

during difficult times.

public to be aware of the do’s and don’ts - because with social media becoming

“I urged them to think about people

so prominent, it is sometimes hard for

“We’ve just crossed over 21 million

stuck in their homes, and to imagine

people to differentiate between what is

households, and that’s just across Africa.

what they would need during this tough

fact and fiction.

12th Edition | TOP500 | 13

cover story | multichoice

“We are a trusted media platform

over 40 languages across the continent,

out of Hollywood and it’s a deliberate

that is able to bring credible information

and we are able to bring stories that

investment that we have made as a

- there is a lot of editorial intervention

people have never seen on TV about

team, understanding that Africans love

that goes on before things are aired on

people who never thought that their

to see themselves on television.”

our television.”

stories are going to be told on television sets,” he said.

In terms of the commercial side of

At the cutting edge of tech

the business, he said they have seen

Touching on technology and the

tremendous growth over the last

impact it has had on the company, Calvo said they’ve always been known to be a company at the cutting edge of technology as they were the first pay TV platform to launch outside the US before Sky and they launched the first PVR decoder, the first dual-view decoder, and long before Netflix entered the African market, they delivered Showmax, which was the first video-on-demand service that launched in Africa.

The continent of Africa is my heartbeat, I look at it and I’m saying, here is a continent where many people look at it with negative eyes, and they do not see the opportunity that lies ahead of us.

“We are pioneers of technology and

few years, and that’s just due to the investment in local content and sports.

“When it comes to sports, people who come to Africa get surprised as to the length and breadth of sports content that we carry on our platform - from the US leagues, English Premier League, Formula One and more. To add to that, there is no platform that has the type of sports content that we have. We show more games of the English Premier League than are shown in the UK! These

technology excites us as an organisation.

are the things we prioritise to ensure

We like pushing the boundaries on

Africans love to see Africans

that we give Africans the best of sports

innovation and making sure that we

on TV

coming from all over the world.”

bring the best that the world has to

Detailing how local content has

offer. And Africa remains on the cutting

changed the public perspective and

My heartbeat

edge of technology. Disruption came

how they see TV, Calvo said gone are the

Touching on his love and passion for the

from the internet and we were the first

days when Africans used to aspire to

continent, Calvo was unequivocal:

to embrace it by launching Showmax

seeing Hollywood content and getting

and we have seen very good traction

to Hollywood.

coming through. While it took us a little

“The continent of Africa is my heartbeat.

I look at it and say, ‘here is a continent

bit of time for us to get the platform to

“Things have changed, Africans love to

which many people look at with

where it is at the moment, it has grown

see their own stories being shown on TV.

negative eyes, and they do not see

in the last year by over 60% in terms

They want to see their own celebrities on

the opportunity that lies ahead of us’.

of subscription numbers, which really

television and they are embracing their

Looking at the world, I ask: ‘where will

demonstrates that we have managed to

own as big characters that can compete

growth come from into the future?’ It

get the user experience to be that way.

across the world. And we have seen

will come from Africa.

It’s second to none in the world.”

content coming out of Africa going on

Calvo went on to say that the biggest

to get resonance across the globe and

“Africa, is one market that is still out

thing that they are chasing are eyeballs

it’s because of the investments that we

there for somebody to do something

- and consumers go after the best

have made across the 50 markets that

special and be able to come up with a

content. MultiChoice have positioned

we operate in.

very successful business. I’m saying this

themselves as the best local content

because I walk the streets and interact

producers and one of the world’s leading

“We have not reached them all, but

with the people on the ground, knowing

sports broadcasters.

many of our key markets now are

and understanding their hunger.”

able to produce content. When the “I think we have been able to achieve

content is depicted on television,

that by playing to our strengths, which

you cannot see that this was shot in

is to bring people the best local content.

Zambia or Angola or Uganda. You

Speaking of local content, we bring it in

just see the same quality that comes

14 | TOP500 | 12th Edition

Milestones His first milestone as MultiChoice’s Group CEO was the successful listing on the JSE at the start of his term.

multichoice | cover story

“We were on the cusp of listing and

that started as actors going on to

when we completed, it was exceptionally

build production companies which are

successful. We have remained in the top

supplying some of the best content

40 listed companies and have continued

- which keeps us growing in terms of

to deliver value in terms of profits

subscribers. It’s wonderful to see people

that have come through, which have

who came to us knowing nothing about

continued to grow year-on-year.

the industry and watching them grow and contributing to our industry and

“We have been able to pay dividends

society-at-large.”

throughout this period. Pandemic or no pandemic. We took a stance that

He added that coming from humble

we are going to continue to pay those

beginnings has also been one of his

dividends and we paid those dividends.

main drivers and he wants to make a

We have delivered on the promises we

difference in life and contribute to the

have made to the markets and we are

betterment of the world.

confident that we are going to turn the rest of Africa profitable this financial year. So those are the key milestones that we have set for ourselves and promised to the market and none of them have failed.”

Leadership style Calvo describes his leadership style as a collaborative one, involving working together and trying to find solutions to the everyday business problems that

The world is going to be a better place going forward. And I think Africa is going to be central to where the world is going to end up in the future.

“The world is going to be a better place going forward. And I think Africa is going to be central to where the world is going to end up. We need African and global leaders to continue to drive the message of hope and to continue to invest in the future of this continent - and if

they face.

“As I grew up and went up the ladder, “As a leader, I don’t look over someone’s

I asked myself ‘what contribution can I

shoulder when managing my people.

make?’ What legacy am I going to leave

I give them the freedom to go and

behind with the responsibilities that

express themselves and do what they

have been entrusted to me, with those

are paid to do. However, it isn’t just the

that have chosen me to take up this

effort that is important, results are what

responsibility? And I remind my team

counts, so we work towards delivering

that with growing and making more

on the targets that we set for ourselves.

money comes responsibility and the

we focus on that we are going to look back and be proud to have made those investments in the right areas and to have contributed towards a better world out there.” n

ability to make a difference.”

“I’m decisive and disciplined in terms of what I need and what I require from

In terms of expanding the business,

people. I expect the same. And the

Calvo highlighted the plan to go beyond

people that I lead understand that there

just video entertainment - with more

is a bigger purpose.”

exciting announcements to follow about investment opportunities that

He is inspired by the pioneers that come

will not only be impactful on the African

and share their ideas - and seeing those

continent but also purposeful in nature

ideas becoming reality.

and add value to everyday Africans lives.

“I think we have a bigger purpose in

Refreshingly, he is optimistic about

life. We have seen many young people

where the world is going.

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12th Edition | TOP500 | 15

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editorial | Multinationals choosing South Africa

10 multinationals choosing South Africa

By Fiona Wakelin

area of 20 hectares. The solar panels track the sun throughout the day, absorbing solar energy from the sky and reflected light from the ground.

The design will result in avoiding an estimated 25 000 tons of carbon emissions annually, the equivalent of removing 5 400 cars from the road in South Af rica.

“Amazon is committed to working with governments and utility suppliers around the world to help bring more renewable energy projects online,” said 1. Amazon

carbon emission to zero will have a big

Nat Sahlstrom, Director of Energy at

Amazon, founded by billionaire Jeff

impact. We want to reach net-zero

Amazon Web Services.

Bezos, is one of the world’s largest

carbon emissions by 2040, a decade

tech companies – in 1 year, US sellers

ahead of the Paris Climate Agreement,

“We’re honoured to work with the

have sold more than 3.8 billion

and we are on a path to powering

Department of Minerals and Energy,

products, averaging 7 400 products

our operations with 100% renewable

the National Energy Regulator of South

sold every minute.

energy by 2025 as part of our goal to

Af rica, and Eskom to help deliver a

reach net-zero carbon.”

new model for renewable energy

In 2015, Amazon opened its first

generation in South Africa.”

Amazon Web Services (AWS) office in

Amazon’s new 10-megawatt solar plant

Johannesburg “to support the growth

is up and running in the Northern

The solar plant, which contributes to

of the cloud computing business and

Cape. The plant is expected to

South Af rica’s 2030 renewable energy

its rapidly expanding customer base in

generate up to 28 000 megawatt-hours

goals, is majority-owned by black

the country.”

(MWh) of renewable energy per year,

women and operated by a fully South

which equals the annual electricity

Af rican-owned company.

Africa (Cape Town) is the 23rd AWS

consumption of over 8 000 average

Region, and the first one in Af rica.

South Af rican homes.

Amazon’s Climate Pledge

The solar plant consists of over

in Johannesburg in 2015, looking to

“We believe we have an obligation to

24 000 bifacial solar panels - capturing

grow markets, not only here, but in

stop climate change, and reducing

sunlight on both sides - covering an

Kenya and Nigeria.

2. Facebook Facebook opened its first headquarters

22 | TOP500 | 12th Edition

Multinationals choosing South Africa | editorial

60-second reels: Make reels up to 60 seconds long.

Drafts: You will soon be able to create a reel and choose to “Save As Draft” below the Save button.

Video clipping: Meta will be rolling out video clipping tools that will make it easier for creators who publish live or long-form, recorded videos to test different formats.

3. Google Google LLC is a global technology company, founded in 1998, when Larry At Connect 2021, Facebook CEO Mark

countries across sub-Saharan Af rica –

Page and Sergey Brin built a search

Zuckerberg introduced Meta, which

including South Af rica. The company

engine that used links to determine

brought apps and technologies

is also introducing new ways to help

the importance of individual pages

together under one new company

creators to earn money, new creation

on the World Wide Web. Currently the

brand. Meta’s focus will be “to bring

tools and more places to watch and

CEO is Sundar Pichai.

the metaverse to life and help people

create Facebook Reels.

connect, find communities and grow businesses”.

Commenting on the launch in Johannesburg Nunu Ntshingila,

Some stats:

Regional Director for sub-Saharan

Meta products empower more than

Af rica at Meta said, “We’ve seen

3 billion people around the world to

that video now accounts for almost

share ideas, offer support and make

all of the time people spend on

a difference.

Facebook and Instagram, and Reels is our fastest growing content format

$6-billion+ has been raised by the Meta

by far. This is why we’re focused on

community to support the causes they

making Reels the best way for creators

care about.

to get discovered, connect with their audience, and earn money. We also

200 million+ businesses use Meta apps

want to make it fun and easy for

to connect with customers and grow

people to find and share relevant and entertaining content.” - Gadget

140 billion+ messages are shared every day.

Future plans In addition to the reels features

1 billion+ stories shared every day.

announced last year, creators around the world will be able to access:

For reels Watching videos accounts for half the

Remix: Create reels alongside an

time spent on Facebook and Instagram

existing, publicly-shared reel on

and in February 2022 Meta expanded

Facebook. When you create a Remix,

the availability of Facebook Reels

you can create a reel that includes all

for iOS and Android to more than 20

or part of another creator’s reel.

12th Edition | TOP500 | 23

editorial | Multinationals choosing South Africa

Today, the company employs

cohort will be expanded to include

“Every day, our more than 130 000

approximately 176 000 people around

60 black-led businesses on the continent.

employees across the world are blending

the world and makes hundreds of

In partnership with the Department of

heart, science and ingenuity to profoundly

products used by billions of people across

Small Business Development, Google

change the trajectory of health for

the globe, from YouTube and Android to

aims to provide support, training and

humanity” – Johnson & Johnson.

Gmail and Google Search. Its mission is

resources to these small enterprises

to organise the world’s information and

through the newly launched ‘Hustle

Johnson & Johnson first opened its

make it universally accessible and useful.

Academy’ (g.co/hustleacademy) a

doors in South Africa in 1930, and in the

Google’s parent company Alphabet,

sub-Saharan African initiative aimed at

more than 90 years since, the company

reported Q2 2022 earnings of $69.7-billion

supporting SMMEs and helping their

has remained committed to helping

in revenue, a 13% increase year-on-year.

businesses thrive.

address global public health needs that

Google South Africa Google established a

Google has also committed to skills

region as a whole. This kind of long-lasting

country office in South Africa in 2007, as

development on the continent - training

promise to serving communities is at the

part of its focus on Africa. Google South

more than 6 million people in digital skills.

root of the company’s mission statement—

Africa employs over 60 people, and its

Additionally, Google has committed to

and it’s what drives Alex Gorsky, Johnson &

headquarters are based in Johannesburg.

certifying 100 000 developers and has

Johnson Executive Chairman:

Dr Alistair Mokoena has served as the

certified over 80 000 of these so far.

have impacted the country and the

Country Director for Google South Africa

“We’re proud to be operating today in 4. Johnson & Johnson

South Africa, which is a vitally important

Johnson & Johnson’s business model is

market and centre of hope and progress

Google’s mission in South Africa is to make

based on the belief that good health is

unfolding across the continent. It’s why

the internet helpful to South Africans,

the foundation of vibrant lives, thriving

South Africa is the hub for our work across

and work together with its government,

communities and forward progress. They

sub-Saharan Africa, as well as home to

policymakers, educators, entrepreneurs,

have been operating on that principle

our Global Public Health Organisation’s

and businesses to shape the next wave

for more than 130 years, aiming to keep

Operations Centre, which opened in 2016.

of innovation in the country and on the

people well at every age and every stage

African continent.

of life. As the world’s largest and most

“And we’re positioned well for that future

broadly based healthcare company,

growth, with almost 1 000 South African

In February 2022, Google held its

they are committed to using their reach

employees. Johnson & Johnson has always

Google for South Africa event which

and size for good, striving to improve

championed the integral role women play

outlined its priorities and commitments

access and affordability, create healthier

in fuelling the future of human health,

for the country going forward. These

communities, and putting a healthy mind,

so I am proud that more than half of our

commitments included support for

body and environment within reach

employees in South Africa are female,”

startups, SMMEs and non-profits to

of everyone.

- Alex Gorsky

since 2020.

accelerate digital transformation and to help the South African economy recover.

Some of the announcements included: The Google for Startups Black Founders Fund has selected 50 top black-led technology startups locally and across the continent to join the programme which included Carry1st in South Africa. Google is part of a group of investors in the business, one of Africa’s leading mobile games publishers. Carry1st will use the additional capital to expand its content portfolio; grow its product, engineering, and growth teams; and acquire new users. The latest

24 | TOP500 | 12th Edition

Multinationals choosing South Africa | editorial

We are committed to environmental

“Launched in June 2020, Microsoft’s

and social economic objectives. We are a

Global Skills Initiative offers immediate

responsible corporate citizen and through

steps to help people looking to reskill so

various initiatives we support our

they can embark on a new career path or

communities. We are a company with

pursue an in-demand job. Existing and

heart and soul and through our Better

new courses from LinkedIn, Microsoft,

Days programme we feed people in need,”

and GitHub are broadly available to South

- Dana Smith, Head of HR Corporate for

African job seekers and NGOs. Through

Kellogg SA

this programme, we have already reached over 300 000 South Africans. A cash

6. Microsoft

grants for approximately R2.5-million was

Microsoft launched its first Africa

allocated to local NPO Afrika Tikkun, as

Development Centre (ADC) in 2019 and

part of a strategic partnership to reach

opened Africa’s first hyper-scale data

more South Africans through our Global

centres in South Africa.

Skills Initiative.

“Microsoft invested in local data centres

“We extended the Global Skilling

to provide the backbone for South Africa’s

Initiative to the end of 2021, and

cloud computing, data, and network

announced a partnership with

services. Our enterprise-grade data centre

PSETA (Public Service Sector

5. Kellogg SA

regions were opened in Cape Town and

Education and Training Authority) and

The Kellogg Company, known as Kellogg’s,

Johannesburg in March 2019.

Afrika Tikkun to provide at least 20

is an American multinational food

000 young people with critical digital

manufacturing company headquartered

“Linking Microsoft’s global cloud

skills and improve employability of the

in Battle Creek, Michigan, United States.

infrastructure to Africa connects

country’s youth in the Information and

In 1894 WK Kellogg created the breakfast

businesses to opportunities across

Communications Technology

cereal Kellogg’sR Corn Flakes and began

the globe, helps accelerate new

(ICT) industry.

their journey in South Africa in 1923 when

investments, and improves access to

the first cereals were sold. The initial

cloud and internet services for people

“Small and Medium Enterprises

cereals manufacturing facility in Springs,

and organisations from Cairo to Cape

(SMEs) can have a profound impact in

Gauteng, was opened in 1948.

Town. The local adoption of cloud

ensuring economic growth of national

services has significant potential for

economies – they represent about 90%

In South Africa, we have Women of

job creation as organisations focus on

of businesses and more than 50% of

Kellogg which supports the company’s

innovation and building their digital

employment worldwide. Formal

efforts to be an organisation where all

businesses at scale.

SMEs contribute up to 40% of

women learn, grow, lead, and succeed.

“Kellogg is a food company that not only invests in its people but in our food products and we continuously innovate. We not only manufacture, market and sell our products but we also provide employment and create further opportunities through our learnership and intern programmes. Through our South African manufacturing facilities, we export our food products to Africa. We source 70% of our raw materials for our cereal business locally and 98% products are produced locally.

12th Edition | TOP500 | 25

editorial | Multinationals choosing South Africa

national income (GDP) in emerging economies, and these numbers rise significantly if we include informal SMEs. “Transforming South Africa’s economy to become more inclusive and stimulate sustainable growth requires the development of black-owned enterprises. This isparticularly crucial to creating a dynamic environment, as small businesses are a drivingforce for economic growth. Microsoft’s enterprise and supplier development initiative, the Emerging Partner programme, has provided over 100 fully black-owned small

7. Panasonic

operational capabilities at the business

and medium-sized ICT businesses with

Panasonic” comes from the root words

frontlines, on a daily basis so that we

accreditation training across three cloud

“Pan,” meaning universal, and “Sonic,”

will be chosen by our customers going

solutions, funded their access to market

referring to sound. It’s a word that refers

forward. Through these endeavours,

journeys, and provided bespoke business

to the company’s goal of “bringing our

Panasonic will offer customers products

development support.

sound to customers around the world.”

and services of superior quality that

Globally the company employs more

surpass their expectations.” - Yuki Kusumi,

“It’s estimated that 600 million jobs will

than 240 000 people. On July 12, 2018

CEO of the Panasonic Group

be needed by 2030 to absorb the growing

Panasonic South Africa (Pty) Ltd, a local

global workforce, which makes SME

subsidiary of Panasonic Corporation,

8. Unilever

development a high priority for many

announced it had celebrated the

Unilever employs more than

governments. In emerging markets, most

inception of a new business office in

148 000 people across the world, with

formal jobs are generated by SMEs, which

Cape Town.

over 400 brand names in 190 countries,

create 7 out of 10 jobs,” – CEO, Microsoft SA, Lillian Barnard

and is a “global company with a global “Today, global environmental problems,

purpose”. Founded in 1883 by William

including climate change, are the

Lever with the launch of Sunlight

world’s top-priority issues that require

Soap – “it was pioneering, it was

urgent solutions. We at Panasonic are

innovative and it had a purpose: to

determined to unite our Group-wide

popularise cleanliness and bring it within

efforts to squarely address these issues.

reach of ordinary people. That was

Furthermore, we will devote ourselves to

sustainable living, even then. We now

improving the well-being of individual

have over 400 brands and we are still

people in society by helping them to

driven by purpose.”

pursue their own happiness, in both physical and mental health, and thus

Every year, hundreds of experts from

live their lives with peace of mind and

around the world take part in the

comfort. Therefore, we have decided to

GlobeScan SustainAbility Leaders Survey.

release our new corporate message that encapsulates these aims.

Drawn from academia, the corporate sector, governments,

26 | TOP500 | 12th Edition

Live Your Best

media and NGOs, 718 sustainability

“Under this banner, we will always think

experts from 73 countries are asked to

out the ideal state and conduct our

name the three companies that they feel

business activities toward this end. At the

are showing the greatest commitment

same time, we will also work to improve

to integrating sustainability into their

our value-creating capabilities, as well as

business strategies.

Multinationals choosing South Africa | editorial

but in 2020, Zoom literally became a household word.

We spoke to Abe Smith, Head of International, Zoom Video: With your experience of scaling operations in Asia and Latin America, what is your view on Africa’s readiness for technological innovation?

“I have been interested in Africa’s technology landscape for over a decade, and this is the final frontier. The opportunity within the region is massive, In 2022, for the 11th consecutive year,

Democratic Republic of Congo,

but you have to be very precise when

Unilever achieved the top spot. “And

Mozambique, Lesotho and Kenya. The

you develop into the continent. Over

we’re in great company, with fellow

organisation offers a wide range

time and with consideration you need to

leaders Patagonia, IKEA, Natura & Co,

of communication services, including

figure out how to best build intelligently

Microsoft, Interface, Ørsted, Tesla, Danone

data, mobile and fixed voice, messaging,

and intentionally as it is a very technically

and Google making up the top 10.”

financial services, Enterprise IT, and

advanced continent. There is lots of

converged services to 130 million

organic interest in the product which has

William Lever registered the Sunlight

customers (including Safaricom).

created spirited interest from the

trademark in South Africa (SA) – hence

Through Vodacom Business Africa (VBA),

company internally to pursue it.

on the Unilever website you will find

Vodacom offers business-managed

Because of this innovative drive, we

the following:

services to large, medium and small

hope businesses within the region

enterprises in 48 countries.

take advantage of our Zoom App fund

Unilever South Africa: 90 + years of Doing Good.

9. Vodafone

as we’d love to invest in companies in Mohamed Shameel Aziz Joosub is Chief

the region whose mission is to make

Executive Officer and Executive Director

communications more engaging,

of Vodacom Group.

productive and effective,” – Abe Smith n

Vodacom is majority-owned by Vodafone (60.5% holding), one of the world’s largest

10. Zoom

communications companies by revenue.

During the pandemic, “zooming” took

Sources

on added significance – previously it

Vodacom | Unilever | Facebook |

“Through Vodafone’s three purpose

had primarily been associated with

Panasonic | Amazon | Zoom

pillars: Digital society; Inclusion for all; and

photography or focusing on something –

Johnson & Johnson | Kellogg

Planet, the company aims to positively transform lives, drive a better digital future and reduce our environmental impact. We believe in a connected digital society, that the opportunities and promise of a better digital future should be accessible to all, and that business success should not come at a cost to the evironment,” – Vodacom.

Vodacom’s head office is in Johannesburg, and operations include mobile networks in Tanzania, the

12th Edition | TOP500 | 27

editorial |

By Balkissa Idé Siddo, Public Policy Director Africa at Meta

S

ince the start of the twenty-

quality of life and shared experiences.

the physical world with people you can’t

first century, technology has

We are hearing more and more about

physically be with. In the Metaverse,

been at the heart of enhancing

the Metaverse, not only in the tech

you’ll be able to hang out with friends,

communication and human contact.

community but also amongst friends

work, play, learn, shop, and more.

The internet has not only enabled

and family. So what does the Metaverse

people to communicate with family and

actually mean?

friends all over the world in real time,

The Metaverse has the potential to help unlock access to new creative, social and

but powered businesses and creativity

The Metaverse will be a set of virtual

economic opportunities, and Africans

across the globe.

spaces including immersive 3D

can be involved in shaping it right

experiences, that are all interconnected

from the start. Here are a few things to

With each passing day, more

so you can easily move between them. It

understand about the Metaverse and

technologies are built to improve our

will let you do things you couldn’t do in

Africa’s role.

28 | TOP500 | 12th Edition

Who owns the Metaverse? | editorial

No one really owns the

artist Niyi Okeowo, is using AR and VR,

unique stories in truly engaging ways.

Metaverse

crypto and gaming, to create a fashion

As Africa’s population becomes the

Several tech companies like Meta are

Metaverse. Thrill Digital won a $40 000

largest workforce in the world by 2035,

already starting to think about the

grant from Epic Games, a US video

many tech analysts are convinced that

future and ways to make the metaverse

game and software developer investing

the metaverse will open up economic

a reality. It isn’t a single product one

in Metaverse development, to start

opportunities in Africa, pointing to

company can build or own alone, and if

Astra, a play-to-earn crypto game where

its relevance to the evolving post-

it is to succeed, it will need to be open

players try to amass as many tokens as

pandemic world of work.

and interoperable.

they can within an allotted time to win real-life luxury fashion items.

More interestingly, a report which

Bringing this to life will take

estimates the impact of the Metaverse

collaboration and cooperation across

10 years after adoption, indicates that

companies, developers, creators

the Metaverse will contribute about

and policymakers. It will be built

1.8% GDP growth to the sub-Saharan

gradually, as many of the products

African economy, representing

and infrastructure will only be fully

$40-billion growth.

realised in the next decade or so. This means great opportunities for Africa,

Meta’s commitment to Africa’s

as our booming Internet economy will

future

enable Africans to play a part in this

Meta’s recent opening of its second

collaborative future.

office in Africa - in Lagos, Nigeria - is Africarare—referred to as “the first

testament to our commitment to

Africa is Metaverse-ready

South African Metaverse”—launched

Africa’s role in the Metaverse. The office

The evolution of the Metaverse will

in October 2021. It represents a digital

is the first office in Africa to have a

support amazing creativity and open

land, Ubuntuland, and offers immersive

team of engineers to support the Sub-

up new horizons for brands and

VR experiences including a marketplace

Saharan region.

businesses, and the community as a

for art. Africarare featured the premiere

whole. Now the question is, how can we

NFT art collection from the well-known

Meta has also launched a two-year

ensure Africa is Metaverse ready?

South African artist Norman Catherine.

$50-million XR Programs and Research

Africarare users can purchase land via

fund to build the Metaverse, which

Africa has a large consumer market,

$UBU Coin, create avatars, and engage

includes funding for a “Future Africa:

and, crucially, top-quality talent.

in social, gaming or art experiences,

Telling Stories, Building Worlds”

The digital economy is expected to

and new Africarare NFT collections will

programme. The programme will see

contribute up to $300-billion to Africa’s

continue to be featured.

the company partner with Africa No

GDP by 2025 (10% growth per year), and

Filter, Electric South and Imisi3D to

the working age population across the

Africa’s largest mobile network

support creators amplifying African

continent is expected to grow by 450

operator, MTN Group, has also

voices and pushing the boundaries

million people, or close to 70%, by 2035.

announced in February 2022 that it

of digital storytelling. The program

had purchased 144 plots of virtual land

provides grants, mentorship, and

Thriving tech start-up ecosystems in

in Ubuntuland. MTN is the first African

supports VR storytellers to develop new

Africa are already driving job creation

company to invest in the Metaverse.

and compelling content about Africa,

and economic growth. Looking ahead

These are very exciting times for the

showcasing innovative storytelling that

they will help to shape and create the

African tech ecosystem and this is just

shifts negative stereotypes about Africa.

technology that will change how we

the beginning!

live and work and shape our shared

By using immersive technology such Opportunities for African

as 360 video, VR, AR and mixed reality,

economies

creators can receive funding of up to

In fact, Africa is already alive to the

The Metaverse will also provide a

$30 000 and mentoring from Meta to

possibilities of the Metaverse. Nigeria’s

significant opportunity for African

grow their skills. Together we can be

Thrill Digital, founded by Delz Erinle and

brands to advertise themselves and tell

sure Africa is truly metaverse ready. n

digital future.

29 12th | TOP500 Edition| |12th TOP500 Edition | 29

editorial |

Investment Opportunities in South Africa | editorial

O

ver the past few years, it has been proven, time and again, that the local South African

economy has the unique ability to bounce back from setbacks, whether big or small, helping boost international investor sentiment. Now smart global players are quite rightly shifting their focus to South Africa’s rich investment potential.

So, what makes South Africa a destination of choice for mega investors like Amazon, Procter & Gamble, Google, Coca-Cola and Heineken?

A simple answer to the question: South Africa is deeply committed to make investment a priority! The South African government and an envoy of leaders including Phumzile Langeni, Jeff Radebe, Derek Hanekom, Mcebisi Jonas, Trevor Manuel and Jacko Maree are tirelessly working at promoting abroad the favourable conditions for large and medium scale investment in the country. Not only does the present government and its agencies offer very attractive funding incentives and tax breaks in several key growth sectors, but they have also created designated Industrial Development Zones (IDZs) where investors can take advantage of significant import duty reductions and rebates, along with a myriad of groundbreaking infrastructure building incentives. Wisely, in South Africa, the “Business as Usual” approach has fallen by the wayside to pave a road for a more flexible and attractive “Business Unusual” environment.

Mining - Deep Rewards Traditionally the mining sector has been the backbone of the South African economy, contributing to a substantial portion of the GDP.

Geological Survey estimate that

mining like timber, transportation,

South Africa possesses ore reserves

materials and clothing. Levi Strauss, the

amounting to a value of more than

Vanderbilt dynasty and J.P. Morgan are

$2.5-trillion, with 16 commodities

still striking gold more than a century

ranked in the Top 10 internationally.

after the actual gold rush dried up.

The sector’s well-established infrastructure, along with convenient transport networks have historically been huge drawcards for big investment - this includes the value chain as a whole. Herein lies true gold for the medium and smallscale investor, in particular. Mining optimisation, IT support, tooling and catering are some of the areas of opportunity within the mining sector.

Looking back in history at the California gold rush, many a fortune

The South African Department

was made not only by actual mining,

of Mineral Resources and the US

but by tapping into needs related to

Agriculture - The Art of Growth Another important growth sector is Agriculture. South Africa is already on the cutting edge when it comes to the internet and telecoms needed to digitise processes. This means there is a basket of opportunities ripe for the picking for investors in the sector.

Agricultural development, digitisation of agricultural systems, mechanisation of production, the science and technology needed for greater crop yields and greater profitability and again, the sector’s value chain make up part of this offering.

12th Edition | TOP500 | 31

editorial | Investment Opportunities in South Africa

A great advantage is that the South

government has closely guarded and

in new and/or replacement models

African agricultural sector is particularly

supported its motor industry by having

and components that will increase

diverse in its product offering and the

local content targets and implementing

plant production volumes, help sustain

locations where production or growing

hefty excise on fully imported vehicles.

employment and strengthen the

takes place. Leading, existing product

Light motor vehicles were imported in

automotive value chain in general.

offering include maize, wheat, sugar,

Complete Knockdown Kits (CKD) and

sorghum, livestock and viticulture

assembled locally to avoid import duties.

A very tangible benefit is that qualifying

are all ideal choices for investors who

Only in the early 2000s were import

investor can obtain a non-taxable

strive for lower risk, relatively low yield

duties adjusted to make fully importing

cash grant of twenty percent (20%)

investment. Up for consideration for

a vehicle financially viable.

of the value of qualifying investment in productive assets and twenty five

maverick investors are newer crops like South Africa’s own Rooibos, boegoe

Over the years the local automotive

percent (25%) of the value of qualifying

and opportunities in a well-regulated

industry survived unchanged relatively

investment in productive assets

cannabis/hemp industry. Many

well. But things have changed in recent

by component manufactures and

agricultural regions fall within IDZs,

years because the way the global

tooling companies as approved by the

where investors can doubly enjoy the

automotive industry has done business

Department of Trade and Industry. In

tax and duties benefits and support

has shifted. All major motor brands

addition, a non-taxable cash grant of

of government when it comes to the

have in some way moved production

five percent (5%) may be made available

import of components and tooling need

abroad to take advantage of competitive

for projects that maintain their base

needed for mechanisation.

workforces and manufacturing

year employment figure throughout

environments.

the incentive period, and achieve at least two of the following economic

The Automotive Industry Accelerated Growth

To rev up growth and investment in

requirements: tooling; research

The automotive industry is by no

the sector government has introduced

and development in South Africa;

means new in South Africa, with motor

The Automotive Investment Scheme

employment creation; strengthening

manufacturing stretching back almost

(AIS). The scheme aims to develop the

of the automotive value chain; value

a century to the 1920s. For decades the

automotive sector through investment

addition or empowerment.

32 | TOP500 | 12th Edition

Investment Opportunities in South Africa | editorial

Business Outsourcing -

outsourcing. Rapidly growing financial

Zulu Natal manufacture interests

Opportunity Calling

services, administration services, creative

focus predominantly the electronics,

The Covid-19 pandemic made remote

staffing, human resources, to mention

petrochemical, white goods and

work the new normal. This has been just

but a few are outsourcing opportunities

food manufacture inwdustries. Let’s

one of the factors that has fuelled South

that investors should investigate.

not forget that as with mining and

Africa’s business process outsourcing’s exponential growth in the recent past. Many global giants have taken advantage of South Africa’s favourable time zone alignment with Europe coupled with the nation’s English language proficiency to offering good quality voice-driven contact centres for

agriculture investment opportunities Location, Location, Location

extend into the value-chain of all

Parties with an eye on investing in

these industries.

the manufacturing industry would be wise to take advantage of government

In short, with intensive support

designated Industrial Development

from SARS and the government,

Zones within South Africa.

manufactures will have import duties wavered on materials, components and

These manufacturing strongholds, all

tooling need in manufacture. There are

located close to large ports, benefit

also infrastructure building grants and

from attractive tax and duty exemptions

lucrative incentives for investors within

specifically created in an effort to attract

IDZs. Spread across numerous provinces,

protection and its established insurance,

Foreign Direct Investment and stimulate

potential investors can pick and choose

the export of value-added commodities.

when it comes to the location or region

banking and telecommunications

The three main IDZs for manufacture

where they choose to invest.

sectors have strong legal and product

in South Africa are Coega and East

similarities with the UK, Europe, Australia

London in the Eastern Cape, and Dube

and the US. It’s really no wonder that

in KwaZulu-Natal.

their clientele that are locally based.

Additionally, South Africa’s, intellectual property and data privacy legislation is up to date, the legal system provides

The Dawning of South Africa’s Golden Era Without evening scratching the surface

South Africa is one of the fastestgrowing BPO industries in the world and

The Automotive Industry has a mature

of real estate, financial and banking

a region where you can get a big bang

infrastructure in the Eastern Cape

services, research and development and

for your investment buck. Call centre

where Volkswagen, Ford and the

more, South Africa has an unlimited

operation and staffing is just the tip of

Mercedes-Benz factories have operated

wealth of untouched opportunities for

the iceberg when it comes to business

for much of the past 50 years. In Kwa-

both foreign and local investors. n

12th Edition | TOP500 | 33

editorial |

Making profits and a difference: How impact investing creates a middle-ground

By Motlatsi Mutlanyane, Head of Alternative Investments, and Egon Soontiënsm, Research Analyst at Momentum Investments

I

mpact investing is happening. A review of investment flows shows there has been significant growth in the commitment and application of impact investments to current global challenges. The Global Impact Investment Network’s (GIIN) 1 2020 GIIN annual survey report estimates the market size of impact investment to be $715 billion (see figure 1).

34 | TOP500 | 12th Edition

Making profits and a difference | editorial

Figure 1: Impact Investment market has grown at a 27% compound annual growth rate (CAGR) from $25.4 billion to $715 billion between 2013 and 2019

800

600

400

200

0 2013

2014

2015

2016

2017

2018

2019

Years Source: Adapted from ForexToStocks - Impact Investing, SRI and ESG Investing Market Trends, Data & Stats 2020

Governments and philanthropists

Impact investing’s capacity to improve

It is essential to emphasise that impact

cannot continue to solve the social

lives and to benefit the environment

investing includes profit as one of

and environmental challenges on their

is proven. Properly managed impact

its main objectives. Hence, impact

own. Hence, institutional investors are

investment can offer the best of

investment does not trade off financial

expected to adopt the new investment

financial returns and create a positive

return for social or environmental

norm of positively influencing the

effect. To place impact investing in

effect, but instead aims to identify

society and environment they invest in

context and to differentiate it from other

investment opportunities that combine

to ensure sustainable development.

investment approaches, figure 2 shows

them. In other words, there is an

the investment spectrum with impact

explicit commitment to social and

investment in the centre.

environmental impact goals while

The Global Steering Group for Impact Investment (GSG) 2 defines an impactoriented investment as an investment where risk, return and impact are maximised by positioning measurable social and environmental goals alongside financial goals. The GSG argues that well-executed investments benefit not only the owners of the investments but also the society and the environment in which they are made. It believes these societal and environmental effects should be expressly stated and should be the driving force behind any organisation. It also believes these effects be integrated into all investment decisions of investment managers.

12th Edition | ToP500 | 35

editorial | Making profits and a difference

earning a market rate of return. Another

of the 2030 Agenda for Sustainable

effect on specific SDGs, investors can

key defining characteristic of impact

Development. These goals form part

address how they are contributing to a

investment is its expressly stated

of an extensive globally coordinated

sustainable and equitable future.

intentionality. Impact investment has,

action plan to end poverty and reduce

by design, an intentional impact on

inequality, while also protecting the

Momentum Investments has adopted

either the society, the environment

planet, tackling climate change

six of the SDGs and we’re aligning our

or both. This key characteristic

and spurring economic growth.

impact strategies with the goals to drive

distinguishes impact investment from

The goals recognise that social and

results. These are SDGs 3, 4, 7, 8, 9 and

all other investment types classified

environmental issues affect everyone

13. The Momentum Impact portfolios

on the investment spectrum. When

and thus apply to every country,

have incorporated sustainable investing

viewed this way, impact investment is a

irrespective of their ‘developed’ or

principles and guidance throughout

universal term, as it can be applied to all

‘developing’ economic status.

their investment cycles to make the

investment types and asset classes.

achievement of the goals an intentional Sustainable development embodies the

objective. That is, the principles have

A common starting point for

idea of doing well by doing good. By

been integrated into deal origination,

implementing impact investing

incorporating social and environmental

due diligence and investment selection

in practice is the United Nations’

targets into their investment strategies,

for the three impact portfolios – the

sustainable development goals (SDGs).

investors can align their impact

Momentum Alternative Energy Fund,

The member states of the United

objectives to the SDGs and track their

the Momentum Social Infrastructure

Nations adopted the 17 SDGs with 169

contribution towards achieving these

Fund and the Momentum Diversified

targets (see figure 3) in 2015 as part

goals. Using metrics that reflect their

Infrastructure Fund.

36 | TOP500 | 12th Edition

Making profits and a difference | editorial

The Momentum Alternative Energy

Moreover, the investment committee

Fund is invested in sustainable energy

that deliberates on the recommended

companies, which focus on renewable

investments also reviews each proposal’s

energy, energy efficiency and storage

ESG report.

technology. The priority SDGs for the portfolio are 7 (Affordable and Clean Energy) and 13 (Climate Action). The Momentum Social Infrastructure Fund is invested in businesses involved in providing student housing in the higher education sector, quality affordable housing and non-urban shopping centres. The portfolio aligns with SDG 4 (Quality Education) and 9 (Industry, Innovation, and Infrastructure).

“... investments must show a direct link to at least one of the six SDGs.”

An investment that meets the investment criteria but not the ESG requirement may still be included if the ESG issues can be resolved through continuous, active engagement with the management team of all the investee companies.

By using appropriate indicators, data on impact metrics are collected regularly, and investee companies are monitored

Finally, the Momentum Diversified

to track progress towards their social

Infrastructure Fund is invested in

or environmental objectives. While the impact measurement and monitoring

core economic infrastructure including toll roads, telecommunications as

challenge. For example, the investment

methodology is evolving and may not

well as water and wastewater

in student housing is through a

capture all of an investment’s impact,

infrastructure. This portfolio specifically

company that focuses exclusively on

it captures enough of the impact to

targets SDG 8 (Decent Work and

addressing the 250 000-bed shortage

track progress toward the SDGs being

Economic Growth) and 9 (Industry

for students.

measured. We believe that impact investing is the responsible thing to

Innovation and Infrastructure).

Second, investments must show a

do and a fundamental part of our

Potential investments are identified

direct link to at least one of the six

commitment to delivering sustainable

and added to the pipeline based on

SDGs. Finally, the impact generated by

outcomes to clients. The improvement

investment criteria that include impact

the investment must be substantive

of society and the environment is vital

targets. First, it is important that the

and measurable. In addition to these,

if clients enjoy the financial returns

purpose of the target company (or

the investment case must also hold,

delivered by their investments, and we

project) is to address a critical problem

i.e., it must meet the risk-and return

will continue to direct our actions to

relating to the environment or a societal

requirements expected for the exposure.

achieve these outcomes. n

12th Edition | ToP500 | 37

Why aren’t we developing African IP?

By Richard Firth, CEO of MIP Holdings

W

e are living in a world where unforeseen technological innovation is the new normal, and companies are grappling with how to best use new technologies such as AI and big data to create real value.

They are also struggling to balance product innovation against business model innovation. At the same time, customers are demanding real-time, personalised experiences. Consumers can no longer be viewed as the end users of products, but must be seen as active participants in the supply chain.

As a result, any new technology must be implemented as part of a strategic decision to solve today – and tomorrow’s – customer demands. In Africa, this is happening in a very different way to many other territories, mainly because our digital transformation efforts are following a slightly different trajectory. Not only have we leapfrogged many legacy technologies, our challenges and solutions are unique as well. tAs a result, we have seen innovations like Mobile Money and IoT-enabled anti-poaching efforts as African companies rise to the challenge of meeting African consumer needs, opening even more opportunities for digitally-enabled entrepreneurial businesses and SMMEs.

38 | TOP500 | 12th Edition

Why aren’t we developing African IP? | editorial

Unfortunately, this is not changing

The total number of developers in

South Africa’s Software Development

the reliance of larger African

Africa was 716 000 last year.

Nation survey found that one in five

organisations on American and

Unfortunately, while these statistics

developers are actively looking for

European software solutions,

may seem like Africa’s digital

international opportunities, with

hampering the continent’s ability to

transformation initiatives are gaining

Europe leading as the destination

capitalise on the opportunities digital

traction, the reality is that we are

of choice.

transformation offers.

building skills too slowly for Africa’s future needs – and more worryingly

In fact, Africa has now become the

Are we winning?

– we are building skills that are not

recruitment centre of choice for many

For years, Africa has bemoaned the

actually benefiting Africa. We may

global companies, with Microsoft, for

lack of digital skills found on the

slowly be establishing a digital skills

example, investing over $100-million

continent. While some countries

base across the continent, but we

to open development centres on the

produce more skills than others, as a

are not building African Intellectual

continent. The global software giant is

region, we are still lagging behind

Property (IP).

aiming to grow its African developer

even other developing regions like South Asia.

pool to 500 by 2023.

The same report that found our development skills are growing

The customer base of most African

showed another less inspiring trend:

companies is 99% local, with their

38% of African developers work

physical supply chains also in excess

for companies based outside of

of 90%. And yet, almost 100% of

the continent.

the software solutions they use are developed offshore. There is absolutely

Four out of every ten African software

no reason that this should be the case.

developers now work for at least one company based outside of the

Hurdles and opportunities

continent, while five work for local

The world is in the throes of the Fourth

start-ups.

Industrial Revolution (4IR). Almost

Some 230 million jobs across the

all organisations in the future will be

continent will require some level of

Another brain drain

digital, and 60% of all global GDP will

digital skills by 2030, according to a

For all of Africa’s focus on digitisation

come from digital sources in the next

study by the International Finance

and homegrown solutions, both public

few years, according to the World

Corporation (IFC). That translates to

and private sector organisations still

Economic Forum (WEF).

a potential for 650 million training

invest in international technology

opportunities and an estimated

before they look closer to home. While

In fact, the WEF says that an estimated

$130-billion market. With the COVID-19

there are some international solutions

70% of new value created in the world’s

pandemic forcing many businesses to

that are best-of-breed, there are a

economy over the next decade will be

go digital to survive, the need for these

number of local alternatives to most of

based on digitally enabled platform

skills has only become more apparent.

the global offerings that are at least as

business models.

good, if not better.

For example, the demand for African

In light of this, African countries

software developers skyrocketed in

The misconception that international

not keeping on top of emerging

2021. The Africa Developer Ecosystem

solutions are better than home-grown

technologies and understanding how

report, which gathered data from

ones has not only hindered the growth

to harness their capabilities will find

Kenya, Tanzania, Uganda, Rwanda,

of African development houses, but

themselves falling even further behind.

Algeria, Cameroon, Egypt, Ethiopia,

ultimately, African economies. Over

The coming decade will be a pivotal

Ghana, Ivory Coast, Kenya, Morocco,

and above those developers working

time for Africa.

Mozambique, Nigeria, Senegal, South

for international companies from

Africa and Tunisia, found that the pool

their home country, many African

The continent may have come a long

of professional developers increased by

developers are physically leaving

way in developing its digital skills base,

3.8% year-on-year.

to work overseas. The 2019 State of

but it has even further to go. n

12th Edition | TOP500 | 39

editorial |

Bespoke wealth asset insurance for the discerning Interview with Elite Risk Acceptances’ MD, Tarina Vlok

What differentiates your company from competitors?

•

We are part of the Old Mutual Group, with strong support from the blue-chip company.

•

We offer specialised, niche services and products to our high net-worth target market. Our product provides some of the widest cover available in

Tarina Vlok

the market.

•

We have a team of highly-skilled underwriters looking after the needs of the most important

I

n 2017, Christelle Colman (former Managing Director of Elite)

clients of our brokers.

•

properties that we insure, enabling us to remove

and current Managing Director, Tarina Vlok, approached Old Mutual Insure to propose a non-life insurance solution for

its wealthy clients. In August of 2018 the product was launched after the realisation that offering the option to the existing and new intermediary base would contribute to growth.

Elite Risk Acceptances (Pty) Ltd wrote R100-million in premium

average from the contract.

•

We have an all-female board.

•

We pride ourselves in the development and continued support of our staff.

•

We guard our culture and deliberately develop it.

•

We maintain close relationships with our intermediaries and have an open door and always

income after the first year of operations, thanks to the support of its broker and advisor partners. Here Managing Director Tarina Vlok takes us through what sets the company apart, the milestones it’s reached and more.

40 | TOP500 | 12th Edition

We have professional valuations done of the

available approach to engagement.

•

Backed by Old Mutual Insure, we have capacity to insure large domestic risks and have access to favourable reinsurance terms if required.

Elite Risk Acceptances | interview

Embracing the hybrid work model, we

“Embracing the hybrid work model, we have moved towards a work environment of partial working from home and in-person connection, collaboration, and brainstorming.”

•

After the resignation of our previous

have moved towards a work environment

MD, there was a seamless transition

of partial working from home and in-

to new leadership with tremendous

person connection, collaboration, and

support from our shareholders

brainstorming. All while supporting our staff and creating an environment with trust and accountability at its heart.

and staff.

•

Appointment of Tandiwe Cimela as COO in 2022.

This allows each person to thrive, and ultimately allows our business to grow

Do you have exciting plans for

and attract the best of breed.

the coming year?

Yes, one of the most important exciting plans we have (and that we can share

“In today’s service economy, it is important for organisations to embrace diversity, including female empowerment.

This will enable us to serve our staff and clients in a holistic and well-rounded way.“

How is Elite Risk Acceptances aligned with the needs of the Top 500 Best Managed Companies?

Elite embraces female empowerment and diversity. We respect and honour our diverse staff, partner and client networks, as well as the communities we serve.

At Elite, we believe that focusing on the mental and physical health of our staff allows us to retain and nurture talent.

This goes hand-in-hand with treating our staff with respect and trust to harness

at this stage) is the opening of our own offices in 2023. When the COVID lockdown hit in March 2020, Elite was still a start-up and we rented office space within the group. Since then, we have developed our own very distinct brand and we will be opening our own offices hopefully early in 2023.

Would you like to send a message to our readership?

In today’s service economy, it is important for organisations to embrace diversity, including female empowerment. This will enable us to serve our staff and clients in a holistic and well-rounded way. This is especially true in the financial services industry, where traditionally insurance is considered a grudge purchase and there can be a lack of trust of insurers. n

and protect the amazing culture of the team.

In your opinion, what have been We continue to support personal

some of Elite’s most important

development plans, including formal

milestones to date?

and informal training, leadership

•

R100-million premium income

development, as well as learnership

after the first full year of operations

and mentorship programs. This is

(December 2019)

incredibly important in ensuring not

•

staff members to date

only top performance, but also that each employee remains connected and

We have provided employment to 35

•

When COVID lockdowns were

Address: Old Mutual Building, Jan Smuts Drive, 1st Floor Mutual Park, Pinelands, Cape Town Tel: 086 011 1022 Email: reception@eliterisk.co.za

focused. The entire Elite Risk team is

introduced, we effortlessly moved off

Website:

already a top performing and connected

site in 24 hours and are continuing to

www.eliterisk.co.za

team - we aim to maintain this in 2023.

effectively work from home

12th Edition | TOP500 | 41

editorial | Global Citizens

by Fiona Wakelin

E

very year a selection of outstanding young leaders (young meaning under 40) from around the globe is chosen by The Forum of Young Global Leaders®. This year representatives from 42 countries were selected to “responsibly improve the state of the world” – and 5 young South Africans made the cut. But first, who is this community?

The Young Global Leaders® Community

Aligned with the World Economic

warming from carbon emissions – as

is an accelerator for a dynamic

Forum’s mission, we seek to drive public-

well as the growth of socioeconomic and

community of exceptional people with

private co-operation in the global public

geopolitical tensions exacerbated by 3

the vision, courage, and influence to

interest. We are united by the belief

years of COVID (which in itself seems

drive positive change in the world.

Our growing membership of more than 1,400 members and alumni of 120 nationalities includes civic and business innovators, entrepreneurs, technology pioneers, educators, activists, artists, journalists, and more.

that today’s pressing problems present

like a never-ending story) to know that

an opportunity to build a better future

we have dynamic, courageous leaders

across sectors and boundaries. – The

and influencers working together to

Forum of Young Global Leaders.

ameliorate what at times seems like a tar pit, is news we sorely need. It is no less

With all the challenges facing the Blue

heartening that 5 young South Africans

Planet - the latest UN report on climate

are among the 109 chosen from among

change warned that it is “now or never”

the world’s best to share their insights,

to reverse human-induced global

drive, energy and vision. Please meet:

Zuriel Naiker is Managing Director - Industry (Middle East and Africa) Sales (Africa) – at Marsh McLennan.

“Our leadership role extends beyond taking a stance in conversation and policy development.

We must personify a sustainable, inclusive future. By harnessing the power of a diverse collective, we create, build and sustain momentum for future generations. Our actions can create a force for good and help to solve the complex problems our world now faces. I have modelled this in a corporate environment by building diverse, high-performance teams, and these experiences have helped when addressing larger-scale problems like climate change, sustainability, diversity and poverty alleviation — issues that affect us all, ” – Zuriel Naiker.

Marsh McLennan is a global professional services firm with two operating segments, Risk and Insurance Services and Consulting, comprising four major businesses, each a global leader in its field. The organisation services clients in 130 countries, is one of the Fortune 250 companies and has annual revenues of $17-billion. Marsh McLennan”s 76 000 colleagues around the world are united in purpose and action for the benefit of clients, shareholders and society.

42 | TOP500 | 12th Edition

Global Citizens | editorial

Executive Vice President: Corporate Affairs and IR at Imperial, Esha Mansingh is responsible for ESG and sustainability, investor relations, corporate affairs, internal and stakeholder communications, brand positioning, and media liaison at Imperial. As the Chairman of Imperial’s Global Women’s forum, she drives many women-led empowerment initiatives across Africa, CSI projects and leads the sponsorship of the iconic Imperial Wanderers Stadium.

Esha also serves as the co-chairman of the World Economic Forum’s New Champions South Africa Board, on the boards of Unjani Clinics NPC and the Imperial and Motus Community Trust, is the chairman of the Integrated Reporting and ESG sub-committee of CFO Forum SA, and a founding member of the Investor Relations Society South Africa.

In addition, testament to her far-reaching work in women empowerment and social impact, Esha is a multi-global award winner having been recognised among the 100 Most Successful Women in Business in the World 2021 by GTC, a Top 50 Power of Women 2021 by Mail & Guardian, Positive Role Model for Listed Companies in Southern Africa by Accenture Gender Mainstreaming Awards 2021 and ‘Most Influential Women in Africa 2022’ by a European business magazine.

“To be recognised by WEF as a YGL 2022 is an honour. My personal purpose is to continue to make an impact on our committees and countries in need. Through YGL, I want to grow and leverage partnerships and networks with other like-minded leaders with common vision and purpose to drive social impact and women empowerment initiatives particularly on the African continent. Also high on my agenda, particularly coming from a leading logistics business in Africa, is how we lead and drive the climate change transition journey. We need leaders and voices to represent Africa on these international platforms and to also attract investment onto the continent for this climate transition journey. I’m hoping to play a part in these discussions through YGL, ” - Esha Mansingh.

Mmaki Jantjies is Group Head of Innovation and Transformation at Telkom and an adjunct associate professor. Passionate about digital inclusion, she has led initiatives and studies focusing on system design and adoption of mobile application’s use to improve education and healthcare in South Africa. She was the 2017 and 2018 South African delegate representative to the W20 in the G20, contributing to engagement on policies that look at the impact of digital inclusion of women.

Working with UN Women and the Mozilla Foundation, she founded a non-profit organisation, Peo ya Phetogo, which runs various STEM programmes to ensure that young South Africans take up technology as a business or career; the organisation went on to start further programmes which develop teachers’ skills in technology and digital literacy.

Mmaki has been recognised for her contribution to the South African technology sector with local and international awards.

“I was humbled by the announcement to form part of the young global leaders program. It is an exciting platform to be part of a cohort of young leaders who are passionate about creating a sustainable future. The collaborative opportunities provide a platform to bring an African view to the world, on creating a sustainable impact of technology across sectors, “ – Mmaki Jantjies.

12th Edition | TOP500 | 43

editorial | Global Citizens

In 2021 Sumayya Vally, founder of the inter-disciplinary architecture studio Counterspace, was on the Time100 Next list of people “poised to make history”. In the same year she was the youngest architect to design the Serpentine Pavilion.

“Materially, the Pavilion takes into consideration construction’s role not only socially, but also its wider impact on the environment. I’ve approached it very much with the same ethos as designing something in Jo’burg – looking out for the inspirations in the fabric of the city and the lives of people in it. Like previous projects, the methodology for the pavilion is shaped through the lens of a fundamental interest in territory, identity, belonging and trying to understand architecture beyond that which is built.

“I spent a big part of my childhood walking from my grandfather’s stores on Ntemi Piliso Street in Jo’burg, to the Johannesburg Library. Walking in the city is a very sensory experience; I’ve learned that architecture is complicit in separating, othering, excluding – but it can also be a force for the opposite.

“Everything we look at is about what we want to bring out in a place. It’s like all the stories of a place are there and we are selecting what to foreground. We’ve tried to achieve this in many of our public art projects, which are about place-making and bringing together an image or a landmark for a place that stems from the context we’re working in.”

Sumayya has continued her work with the Serpentine by initiating and developing a fellowship programme Support Structures for Support Structures.

“Dreaming is everything”.

CEO of African Risk Capacity, Lesley is an executive with extensive international experience in insurance and investment management.

ARC Ltd is a specialist insurance company that provides parametric insurance coverage to African countries against extreme weather events and natural disasters. Lesley spent close to a decade in various senior management roles in insurance and asset management with the AXA Group in London, Paris and Singapore, including as CEO of a Lloyd’s of London insurance syndicate, Head of Corporate Development for AXA Global Asset Management and Chief Investment Officer for AXA Singapore.

Prior to joining the AXA Group, he was Vice President: Investments at AXIS Capital in Bermuda, as part of an institutional investment team managing US$15-billion in a global multi-asset investment portfolio.

He began his professional career with Deloitte, where he had various assignments in corporate finance, auditing and tax advisory.

He currently serves as a Non-Executive Director for various financial services companies around the world. n

Sources: WEF | UNEP

44 | TOP500 | 12th Edition

Johnson & Johnson | Interview

Caring for our community’s needs for more than 130 years Meet Julio Do Monte - Johnson & Johnson Consumer Health Area Managing Director South & Sub-Saharan Africa

F

Julio Do Monte

We take every opportunity to prioritise

Since 2016 we have funded 23 Unjani

creating products that are sustainable,

Clinics - a nurse-led network of primary

or more than 130 years,

have natural ingredients, and enhance

healthcare container clinics in the

Johnson & Johnson Consumer

product transparency so our consumers

communities of South Africa. The

Health has aimed to keep

can make informed choices about

non-profit company supports and

people well at every age and

personal health products. Moreover,

empowers black women and professional

every stage of life. Through our

we are reducing our environmental

nurses, to own and operate their own

iconic brands – such as Benylin®,

impact by using recycled materials in our

sustainable healthcare clinic, enabling

Neutrogena®, Listerine®,

packaging, making sure our packaging is

them to become the first level of primary

Johnson’s®, and Sinutab® - we

easy to recycle or reuse, and powering our

care for members of their community.

combine the power of science with

operations with renewable electricity.

As part of our CSI initiative for 2022,

meaningful human insights and digital-first thinking to help more

We call this our Healthy Lives Mission –

Johnson & Johnson employees visited the

than one billion people take better

our ambition to advance human health

Thomas Wildschutt Junior Primary School

care of themselves and their loved

while also protecting our planet which is

in Cape Town, to revamp their library

ones every day.

backed by an investment of $800-million.

and build a vegetable garden. The library

In line with this, in South Africa, we are

will provide an opportunity for the kids

committed and have engaged in the

to learn and discover the world through

How does Johnson & Johnson

Extended Producer Responsibility (EPR)

reading and a garden will provide daily

Consumer Health live up to its

programme and work with designated

meals and nutrition for the children.

consumer & customer needs?

Producer Responsibility Organisations

Prioritising the feedback and

(PROs) to ensure that we do our part

insights we get from consumers is

in creating a true circular economy for

key for us. It enables us to consistently

plastic packaging. This year we celebrated

deliver brands that offer quality,

a milestone with the completion of the

value, and trust. That is why we use

PV solar installation at our manufacturing

different sources of insights - such as

site in Cape Town, allowing us to continue

consumer immersions, market research,

to supply meaningful consumer products

social media listening, and consumer

in a way that considers the health of the

241 Main Road

care trends, to keep up to date with the

planet, while not sacrificing safety or

Retreat, 7945

latest trends and to truly understand

quality of the products themselves.

what matters to our consumers. On the

Address:

Cape Town, South Africa

customer side, our key account team

Outside serving consumers and

and our shopper department work

customers, how is Johnson

closely together with our key partners to

& Johnson Consumer Health

understand evolving shopper behaviour

helping communities?

and to add value by developing powerful

We are committed to supporting the

category growth strategies.

communities in which we live and work.

Tel: +27 21 710 4111 Website: www.jnj.com

12th Edition | TOP500 | 45

By Professor Ahmed Shaikh, Managing Director of REGENT Business School

W

e are living in the

past 2 years, for example, business

of the world of work. This creates two

interregnum between

leaders globally were coerced to

interrelated imperatives for leaders,

the COVID-19 pandemic

balance the twin imperatives of ‘lives

even as they continue prioritising

and the post-pandemic era, where

and livelihoods’. This created profound

health, workplace safety and work-

all spheres of life have been severely

new challenges for business leadership

life balance.

disrupted. Globally, almost everyone

with no precedents in recent history.

has experienced a life-altering impact

As the world begins to edge closer to

on their professional and personal

This sudden shift in lifestyles has

some kind of normality, it is critical

lives. The world was turned on its head.

affected our intrinsic values and

that leaders do not lose sight of the

From being home-bound to working

ideals, and there has never been

skills they developed and honed

online, no person has been spared the

a time in the history of the world

during the pandemic. Consequently,

deleterious effects of the pandemic.

where there has been a greater need

it has become incumbent on them

for transformational leadership.

to lead effectively in a post-pandemic

COVID-19 has not just changed

The pandemic has highlighted the

era where business organisations in

the world but also changed the

importance of the role businesses

their totality are facing indisputable

fundamentals of the workplace

play in society and it has also created

fragile futures. Whilst it is still early

ecosystem in myriad ways. During the

a clear challenge for leaders in terms

days to speculate about a future post-

46 | TOP500 | 12th Edition

What it takes to be a leader in the post-pandemic era | editorial

by the pandemic. Moreover, given that

atmosphere, which inspires employees

the pandemic presented the world with

to do their best. It also promotes greater

one of the most poignant moments

collaboration and understanding

in its history, it will become critical

between team members, irrespective of

for leadership to use this juncture as

any differences in age, gender, culture,

an opportunity to create fairer, more

or personality.

inclusive, more equitable and more just places to work. Towards this end,

Ultimately, when everyone feels

a few intrinsic human values and skills

respected, understood, and valued, the

are identified as key motivators for the

team’s efficiency takes on an upward

new leadership to embrace. Indeed, it

trajectory. Empathy can be a great

has become abundantly clear that to

driver of innovation. Feeling secure and

emerge from the crisis stronger and

valued in the workplace, with trusting

more resilient requires re-thinking

relationships, will help many to feel

what it means to lead and prioritising

more comfortable and encouraged

purpose, trust, empathy and inclusivity.

when taking risks.

The Human Centric Approach to

We are all keenly aware that during

leadership, will more than ever, be

the pandemic leadership was forced

about creating the conditions in which

to make rapid and informed decisions

personnel can thrive and perform at

amid uncertainty. Gone are the days

their best. It is about empowering

when leaders could make decisions on

people, making them feel valued,

past experience. Agility has become

equipping them with what they need

the key word in this Black Swan world,

and supporting their overall wellness.

where leaders have realised that they

Encouraging emotional wellbeing and

do not have all the answers, but have

mental health ahead of hard business

to make critical decisions using the

KPIs should become the new norm

power of their teams, encouraging

for leadership.

experimentation to co-create the right solutions for the new pandemic-

pandemic world, at the broad level

This new participatory leadership will

there will be a need for a pivotal shift in

support staff on how they want to

leadership to step forward boldly and

shape their world of work. In this new

Finally, if the pandemic taught

deal with 3 immediate major challenges

dawn, redefining corporate culture

leadership anything, it is the

that threaten the very essence and

around the precept of ‘people before

importance of authenticity, vulnerability

sustainability of enterprises.

profit’ has to become the new hallmark

and coming together as agile,

of transformational leadership.

collaborative and compassionate

In the first instance, leadership will

based challenges.

teams to drive results. The time has

need to find meaningful ways to make

Various studies have shown that

arrived to reflect on the positive lessons

the world of work inclusive and better

during the pandemic leaders have

learned and to recalibrate the critical

for everyone; secondly, leadership will

become much more emotionally

traits of leadership as we enter the

have to leverage the lessons learnt from

responsive to the challenges that

post pandemic era with an optimistic

the past 2 years to rapidly innovate

their employees have faced both in

outlook.

and match new products and services

and out of the office. This issue of

with consumption patterns that have

empathy has risen phenomenally with

Equally, our organisations will require

changed radically; and finally, it will

everyone making their way through

life-changing leadership approaches

become imperative for leadership to re-

this pandemic together, especially

to revive weary and floundering

imagine notions of value creation and

in checking one another’s wellbeing.

enterprises and restore the physical and

sustainability in the context of a world

Deeper relationships help create a

mental well being of their aggrieved

that has been fundamentally distorted

much more comfortable, safer feeling

human resources. n

12th Edition | TOP500 | 47

editorial | THE SUPERPOWER EVERY BUSINESS LEADER NEEDS

By Tom Marsicano, CEO of ‘and Change’

T

he corporate world remains in a state of flux. Higher employee turnarounds, evolving client needs, and the recent move toward hybrid work environments mean

the ability to manage change effectively is paramount. But as business leaders venture into uncharted territory in a world still dealing with the effects of the pandemic, new strategies will be required – creative new approaches.

According to an April 2021 report by cultural consultancy Barker Langham, creativity is the new “commercial superpower” in dealing with an ever-changing business environment. The report suggests that organisations are better equipped to address these newfound challenges by becoming more creative and hiring more creatives (or more creative people) while also opening opportunities for growth and innovation.

Creativity is no longer just for specific “creative” industries. The report posits that it can address the five core challenges businesses have to deal with today – wellbeing, organisational transformation, innovation, financial return, and identity. Something as simple as a workplace that showcases art led to increases in productivity by 17%; offering creative activities increased staff retention by 28% and attracted more toplevel talent; 69% of companies cultivating creativity reported winning awards and recognition; and even the World Economic Forum recognised creativity as one of the top three skills for employees from 2020.

From a change management perspective, the findings were clear: “The creative, people-focused techniques required to help make significant transitions can be improved among staff through

48 | TOP500 | 12th Edition

THE SUPERPOWER EVERY BUSINESS LEADER NEEDS | editorial

a wealth of richer, more meaningful cross-sector collaborative projects are

“By fostering open dialogue and collaborative thinking around a specific change – such as new systems, roles, or restructuring – teams will feel actively involved, helping individuals cope better and potentially finding new pathways to managing the change.”

taking place worldwide. These range in scale from innovative business ideas or placemaking initiatives to teambuilding,” the report reads.

Right now, there’s a significant need for creative solutions as we see more businesses return to their offices after three years of online working. For many, it’s an optimistic move as deaths linked to the COVID-19 pandemic wane. However, employees will push back (change resistance is very real), and hybrid working environments will be contentious unless managed very

creative collaboration. Arts-based

significant economic cycle for their

well with adaptability in mind. The

learning is increasingly used… to

clients. However, going forward, they

creative thinkers in leadership will find

enhance employee skills in

would require completely different

a way to ensure flexibility and safety

change management.”

solutions for their clients compared to

for their employees without affecting

standard offerings already present in

productivity and profitability. n

This approach means that business

the industry. By embracing these new

leaders are not alone, and by designing

ideas, they drove their value to clients

the right working environment,

and ultimately changed the way the

they can work with their teams to

business functioned – for the better.

find creative solutions when facing significant change. By fostering open

These creative collaborations are not

dialogue and collaborative thinking

limited to units within a business,

around a specific change – such as

though, with the Barker Langham

new systems, roles, or restructuring –

research also suggesting intersectional

teams will feel actively involved, helping

collaboration across creative, non-profit,

individuals cope better and potentially

and corporate industries. According

finding new pathways to managing

to the report, many of these multi-

the change.

industry partnerships embraced Corporate Social Responsibility (CSR),

For example, and Change was working

such as work across the education,

with a multinational financial services

health, and environmental spheres.

entity driving its business strategy. They looked for a fundamentally different

However, with the new trend towards

new way of operating to stay relevant.

more concrete corporate ESG

We proposed that they put together

(Environmental, Social and Governance)

cross-functional teams organisation-

policies, many large organisations

wide to look at the value chain while

directly integrate these collaborative

simultaneously pulling in feedback

values and strategies into their

from their staff, resellers, and clients. In

business models. “Companies are

short, creative thinking was stimulated

beginning to define themselves with

among the team through theatre and

a social purpose that underpins their

social games – and leadership realised

existence… How companies engage

that their services were part of a more

with creativity continues to evolve, and

12th Edition | TOP500 | 49

editorial | How to set better goals

4 Problem-solving

Techniques You Should Know

By Usha Maharaj, Executive & Leadership Development Coach As a leader, you’re responsible for

problem before trying to find a solution.

finding solutions to problems big and

Ask yourself questions such as: What

small. Whether it’s resolving a conflict

is causing the problem? What are the

between team members or coming

symptoms? What are the potential

up with a new strategy for growing the

causes of the problem?

business, your ability to problem-solve is crucial to your success. In this blog

By unpacking these phases, you may

post, we’ll explore the process you can

more precisely identify the problem:

follow for solving problems as well as

•

four techniques to help solve problems

specific problem that needs to

quickly and efficiently. Whether you are facing an unexpected obstacle or

be addressed?

•

simply looking for ways to improve your

Identify the factors involved: What are all of the factors that are

problem-solving skills, read on for some helpful tips.

Define the issue: What is the

contributing to the problem?

•

Clarify the goals: What do you want to achieve by solving this problem?

The problem-solving process When it comes to problem-solving, there

Gather information

is no one-size-fits-all solution. The best

Once you’ve defined the problem, you

way to approach a problem will vary

need to gather as much information

depending on the situation, contributing

as possible about it. This includes

factors, the team, and your personal

understanding the factors involved and

style. However, there are some steps

gathering data to support or disprove

you can take to help ensure that you’re

your theories about the problem. You

solving the problem in the most effective

can also talk to people who are affected

way possible. Below are four steps you

by the problem or who have expertise in

can follow when solving problems:

the area. The more information you have, the better prepared you’ll be to come up

Define the problem

with a solution.

The first step to solving any problem

50 | TOP500 | 12th Edition

is to identify what the problem is. This

Analyse the information

may seem obvious, but it’s important

After you’ve gathered information,

to take the time to clearly define the

it’s time to analyse it and see what

How to set better goals | editorial

3. Five Whys The 5 Whys is a problem-solving technique that involves asking why the problem occurred multiple times.

This can help you get to the root of the problem. Start by stating the problem.

Next answer the question “why?”. Asking why another four times will help you work through obvious answers and identify the root cause of the problem.

4. Decision matrix A decision matrix is a tool for evaluating possible solutions. It helps you compare and contrast different options so you can choose the best one.

The matrix has two axes: options and criteria. The options are the alternative patterns emerge. This is where you start

solutions to your problem, listed as rows

to develop possible solutions to the

in the matrix. The criteria are all of the

problem. Try to come up with as many solutions as possible and then narrow them down to the best ones.

Evaluate the solutions Once you’ve come up with a few possible solutions, it’s time to evaluate them and see which one is the best. This can be done by assessing factors such as

“Get a group of people together who can offer different perspectives...”

important considerations that should be considered for each option. The process is then to score every criterion for each of the options to identify the solutions with the highest score.

These are just a few of the problemsolving techniques that leaders can use. By using these techniques, you can

feasibility, impact, and costs. You’ll also

enhance your leadership skills and lead

need to consider how the solution

more effectively.

will affect people who are affected by

1. Brainstorming

the problem.

Brainstorming is a technique for generating ideas. It involves coming up

Problem-solving techniques

with as many ideas as possible, even if

Now that you know the process for

they seem crazy or impractical. Get a

solving problems, let’s take a look at

group of people together who can offer

problem-solving techniques that can

different perspectives, and brainstorm

help you do it quickly and efficiently.

ideas. You can write them down or just

Leaders are constantly called upon to solve problems. Fortunately, problemsolving is a skill that one can develop.

Following the process above and practising the techniques will increase your chances of finding solutions.

say them out loud. This is a great way to

If you want to develop your problem-

Problem-solving techniques are

get a lot of different ideas and see if any

solving skills, identify the processes

methods that can help you to solve a

of them can help solve the problem.

and techniques that are best suited to you, practice solving problems quickly

problem in a shorter amount of time.

There are many different techniques,

2. SWOT analysis

and efficiently, and measure your

and the best one for you will depend

SWOT analysis is a technique for

development and progress in problem-

on the situation and your personal

evaluating the strengths, weaknesses,

solving. Don’t be afraid to ask for help

preferences. In this section, we’ll explore

opportunities, and threats associated with

from others when you’re stuck. And,

four problem-solving techniques that

a problem. This can help you determine

always remember, there’s more than one

are commonly used by leaders:

the best course of action to take.

way to solve a problem! n

12th Edition | TOP500 | 51

Advertorial | Armscor

Armscor- SA’s strategic partner of choice for defence and security solutions

T

he Armaments Corporation of South Africa (Armscor) is an acquisition agency for the South African Department of Defence. It is a state-owned entity with extensive experience in providing defence turnkey solutions. The organisation plays an important role in providing the defence forces with proper resources to execute their duties efficiently and effectively. providing food parcels to poverty stricken communities and supporting women in farming to access the market.

Dockyard ARMSCOR manages and operates the Naval Dockyard as the SA Navy’s (SAN) third-line maintenance and refitting authority. The Dockyard focuses on maintaining the required capabilities to support the nation’s submarines, ships and shore-based support facilities.

It provides defence turnkey solutions

processes on all its technology

It executes activities such as planned

and its research and development

management projects.

preventative maintenance, corrective

focuses on producing cutting-edge

maintenance, reconstruction and

technology products. Its technologies

Corporate Social

repairs, as well as upgrades to and

have evolved from the defence sector to

Investment (CSI)

modernisation of the SA Navy’s vessels

both commercial and domestic sectors.

The CSI at Armscor is divided into

(ships and submarines).

It has capabilities and skills to meet the

two components namely; Human

needs of the changing global landscape.

Capital Development (aimed at

It is one of South Africa’s strategic

supporting learner enhancement

national capabilities, where the country’s

It has a proven track record of delivering

to improve their performance and results

naval defence maintenance, repair and

on its mandate. Armscor has extensive

in science, technology, engineering

overall capabilities are housed.

experience in product development,

and mathematics (STEM) subjects) and

technology development, enhancement,

Socio-Economic Upliftment Programme

Dockyard operates one of the five dry

sustainment and disposal of products.

(aimed at providing social relief during

docks available in South Africa. It also

emergencies and disaster situations).

manages two of the three synchro lifts

The organisation has world-class

available nationwide. The facility has

facilities that can be used by both

Armscor has a national footprint of

capacity to generate seven megawatts

local and international clients to test

CSI projects implemented. In the past

of electricity, fresh water and

and evaluate the performance of their

financial year, a total of 30 projects

compressed air. It is 228 metres by

defence and security related products.

were funded. These include among

29 metres in size. It can be divided into

Armscor prides itself on maintaining

other things donation of school shoes

three sub-docks. The ship lift facility

high-quality international standards

and uniforms, providing sanitisers and

has capacity to lift vessels up to

through rigorous testing and evaluation

surface disinfectants to public schools,

2 500 tonnes.

52 | TOP500 | 12th Edition

Armscor | Company Profile

Armaments Corporation of South Africa (Armscor) Vision COMPANY INFOrmation CEO: Advocate Solomzi Mbada Financial Director: Gerald Grobler Marketing & Communications Manager: Segomotso Tire Sales Manager: Segomotso Tire Human Resources Manager: Hadifele Mofokeng

COMPANY STATISTICS Year Founded: 1968 Founding Members: State-Owned Company Employees: 1477 Branches: Trade Affiliations: None

To be the strategic partner of choice for defence and security solutions Mission To meet the defence matériel, technology requirements and management of strategic capabilities of the DOD, organs of state and other entities.

Values Armscor believes that its values constitute the building blocks of the manner in which it conducts its business. We believe in the highest standards and are committed to equal opportunities, transparency and accountability.

We Pledge Commitment To The Following Values: •

Leading by example

•

Results driven

•

Customer focus

•

Care and respect for others

•

Excellence

•

Teamwork

•

Integrity

Memberships: None Strategic Partnerships: South African Defence Industry

Contact details

Business & Finance Turnover: R466 469 000 Operating Profit: R37 150 000

Physical Address: Cnr Delmas Drive and

Net Profit: R12 520 000

Nossob Street, Erasmuskloof X4, Pretoria

Financial Year-End: 31 March

Telephone Number: 012 428 1911

Approximate Market Share: N/A

Fax Number: 012 428 5635

Subsidiaries:

Email Address: info@armscor.co.za

Holding Company: Minister of Defence and Military Veterans

Website: www.armscor.co.za

Accountants: External Auditor, Auditor-General of South Africa

Twitter: ArmscorSoc

JSE Listing And Date: N/A

Linkedin:

Foreign Listing And Date: N/A

www.linkedin.com/company/armscor

Current Customer Base: South Africa

Facebook: Armscor SOC Ltd

Major Accounts / Key Clients: Department of Defence

12th Edition | TOP500 | 53

Advertorial | Boniswa Group

Boniswa Group - bridging the digital divide and improving lives

I

nnovative ideas and thinking can

Growing out of the recruitment world,

reality, 32.4% of the population lives in rural

be transformational if you link them

where Boniswa was already present with

areas. There is much to be done from a

together. Boniswa engineered

a focus on telecoms, Magasa identified

technology and infrastructure perspective.

these transforming insights and

an opportunity to build a new offering

As a result of the pandemic, Boniswa saw

turned from a start-up into a turnkey

across the infrastructure. With little

opportunities to solve problems instead of

telecommunications services provider

industry experience but driven by passion

threats and negativity.

comprising three business units:

and determination, this project yielded

•

Boniswa Corporate Solutions

early success and allowed Boniswa to

•

Boniswa Towerco

build a reputation. The following years

•

Boniswa Manufacturing

saw the company grow aggressively;

Boniswa Group is driven by an ambitious

without significant financial backing, this

strategy from the top down by adapting,

ambitious female-led start-up garnered

changing, innovating, and transforming

attention in the largely male-dominated

ideas to meet our client’s needs; CEO

industry. Boniswa became known for

and founder Lynnette Magasa provides

erecting telecom towers, manufacturing

a clear picture of success in challenging

unique protective telecom cabinets for

economic conditions.

the African environment, and tower collocation; this structure is used to

What makes Boniswa stand out

support multiple antennas operated

The passion and commitment of Boniswa

by different carriers. Today, Boniswa is

employees enable them to provide

home to more than 250 people across

top-notch network service and continuous

multiple divisions. It is a core player

customer support. We firmly believe

in the telecoms industry, providing

in our productive partnership with

digitisation opportunities across South

telecommunication operators to bridge

Africa. As of January 2021, 36% of South

the digital gap between rural and urban

Africans remained unconnected to the

areas. At Boniswa, we have remained

internet. This digital divide is a driver of

with our vision of bridging the digital

unemployment, poverty, and inequality. In

gap since 2004. As a result, through our

addition, mobile data users face high costs

partnerships, we managed to have our

and unreliable connectivity, and just 1.2%

own Boniswa Towerco and Boniswa

of the rural population has access to

Manufacturing facilities.

high-speed broadband in the home. In

54 | TOP500 | 12th Edition

“Our most significant competitive advantage is employing all the in-house expertise as mast upgrading, mast rigging, site acquisition, telecom shelter manufacturing, civil works, electrical and radio frequency installation”.

Boniswa Group | Advertorial

With COVID, like any other business,

by Magasa, who is always looking for ways

Boniswa was affected. However, we

to remain at the cutting edge of

always look for opportunities. We started

our industry.

thinking differently, and we now use the just-in-time method. As we are in

We believe that success lies where

telecoms – a critical sector – we remained

everyone can share value creation

busy. Boniswa also had to move to where

and growth – our clients, employees,

the end users were. Initially, we were

future talent, and the communities we

ensuring we had businesses covered at

serve or who rely on us. Our corporate

their offices, but we had to move towards protecting employees at home. So our

Lyne Magasa Founder and CEO

responsibility is guided by three commitments: people, environment, and business resilience.

strategy changed, and we continued with our vision of bridging the digital gap

competitive advantage. Some of our

between urban and rural areas. When

competitors come to us for installation

Boniswa CEO Lynnette Magasa’s vision

COVID came, people quickly started

services. We gain a cost advantage when

for the company is to create meaningful

moving back to the countryside, where

we price items because the process is

employment. In addition, she wants to

there was space, instead of staying in

managed internally.

grow the company globally and have a Boniswa brand footprint across different

the city, and we are now busy building rural sites. We understand that even

The company’s factory is situated in

continents. A vital part will be to keep

kids in rural areas need access to

Midrand. It can service sites across the

bridging the digital gap. Finally, as a

education online.

country, using a presence across southern

continuity strategy, our long-term vision

Africa to help telcos expand throughout

is to develop the company from an SME

The pandemic lockdowns have spurred a

the continent. We have grown quite

to a corporate group.

move away from the well-connected cities

well and are active all over South Africa,

of Johannesburg, Pretoria, and Durban

Botswana, Namibia, and Lesotho. We

as home buyers search for property with

also have a marketing office in France to

more space to live, work, and play in

promote our products across Europe.

smaller towns and coastal regions. No one

Access to manufacturing has helped

saw it coming, but it forced businesses to

the company broaden its horizons.

shift. We had to ensure that those in rural

Management is enthusiastic about

areas or farms would not be forgotten.

exploring all avenues for future growth,

Many offices remain empty, so we are

utilising the innovation within the

busy moving connectivity to rural areas.

business to push new boundaries.

Company Details: Physical Address: 329 Roan Cres, Randjespark, Midrand Telephone Number:

Vertical integration strategy

The batteries are in their early stage for

Boniswa Group has three divisions:

us, but we are diversifying and hope to

011 312 2100

Boniswa Corporate, which deals with

penetrate new industries in the future.

Email Address:

service (CAPEX model), Boniswa

For example, we are currently busy with

Towerco (OPEX model), and Boniswa

a mobile hybrid generator that will use

Manufacturing (CAPEX and OPEX

diesel and batteries as a backup.

model). We come up with vertical

The African continent is known for

integration where we control multiple

high unemployment, and theft can

stages of our production process and

be a problem. Therefore, Boniswa

supply chain. Besides offering service, we

Manufacturing has launched a new

create partnerships and look for

range of products – telecommunication

long-term relationships. To materialise

anti-vandal cabinets that store batteries to

this strategy, Boniswa launched its factory,

meet the needs of the African market.

and everything we use is produced and

After 18 years, Boniswa continues to thrive

supplied in-house, providing us with a

and strive for innovation. This goal is driven

info@boniswa.co.za Website: https://www.boniswa.co.za/ Social Media: Linkedin: https://www.linkedin.com/company/ boniswa-group/ Facebook: https://www.facebook.com/ boniswagroup/

12th Edition | TOP500 | 55

Interview

Just in time design Interview with Aspire Solutions’ Mike Steyn

Mike Steyn

project’s conception through to the point

WHAT HAVE BEEN YOUR MOST

where their vision becomes a reality.

MEMORABLE MILESTONES AS CO-

ike Steyn, co-owner and

We employ a concept of quick returns

OWNER AND OPERATIONS DIRECTOR

operations director of

on investment with regard to their

OF ASPIRE SOLUTIONS?

Aspire Solutions, has been

M

technology infrastructure. Aspire does

The celebration of 18 years since

working in information technology

work in fairly complicated technology

we started the company is one big

for nearly two decades. Before this,

spaces, such as large corporations or

milestone. We also recently got our

he worked as a design and project

government agencies, where there are

own premises and so were able to

management engineer in South

challenging systems that need to be

celebrate there.

Africa, Namibia and England. In

considered and complicated solutions

2004, Mike braved the tough South

that need to be put together. We never

DO YOU HAVE A MESSAGE FOR

African market and founded Aspire

shy away from intricate and difficult

OUR READERSHIP?

Solutions, an information technology

problems and, within a very short space

We need to change the mindset that IT

company that helps organisations

of time, we provide a way forward.

solutions are an expense to the business

take high-impact steps towards

- they are actually capital outlays that

solving enterprise-wide, business,

We approach technology solutions from

should yield a return. We need to have

system or project challenges. Over a

a rapid solution deployment perspective

empathy for, and an understanding

period of 18 years, Mike has led the

because we are cognisant of the fact that

of, the complex environment in which

development and implementation of

tech is supposed to enable and assist

technology providers are trying to provide

many complex IT projects.

businesses in doing things better and,

solutions. Businesses need to take advice

the longer you take to implement the

from and walk the road in partnership

technology, the longer it takes a business

with IT companies to forge sustainable

to reap the benefits.

and sensible solutions.

PLEASE DESCRIBE YOUR ROLE AND HOW ASPIRE SOLUTIONS WAS FORMED

We’ve coined the phrase “just in

I was fortunate enough that, within the

time design” - a forward-thinking

consulting engineering firm for which I

methodology which means that when

was working, there was an opportunity

we commence with a project, we

to move sideways into information

have not exactly mapped out where

technology. After only a few months, I

we’re going to end up nor do we fully

found that I felt comfortable in the IT

understand all of the problems or

space and so we decided to take the IT

challenges we might face; however, we

division out on its own, resulting in the

can see what we need in the very short

birth of Aspire Solutions. We negotiated

term and can do enough of a design to

with the engineering firm, parted on

build our clients a quick solution. And

good terms, and our course was set.

then, as and when I get new inputs, we modify, refine and extend this solution

IN YOUR OPINION WHAT SETS ASPIRE

in time. As operations director, I have

APART FROM YOUR COMPETITORS?

to ensure that we design fast enough

We walk a journey with our clients,

for the developers that are building the

helping them from the early stages of a

technology to know what the solution is.

56 | TOP500 | 12th Edition

Address: 14 Kildare Road Newlands, Cape Town, 7700 Tel: +27 (0)21 671 3056 Email: info@aspiresolutions.co.za Website: aspiresolutions.co.za

Staying relevant: CX trends to avoid | editorial

Staying relevant: CX trends to avoid

By Zain Patel, Managing Director, Merchants

A

s product offerings and price

to a team of private bankers who can

Another related trend which is

continue to converge across

provide a personalised experience 24

emerging incredibly quickly is the

industries, customer experience

hours a day. This is aimed at ensuring

digitisation of customer touchpoints

(CX) has emerged as the most

positive CX, making the customer feel

– for customers across segments. It is

important differentiator for businesses

valued, and ultimately retaining their

imperative to ensure that investment in

looking to remain relevant in 2022 and

business. Lower income clients however

digital CX tools is not at the detriment

beyond. As one would expect, there

may not have access to a team of

to investment in people. As a BPO

have been several CX trends emerging,

bankers.

provider, our 2021 research also showed

particularly aimed at creating a more

that 87% of respondents want to

personalised experience for the

This is an interesting concept, since

speak with an agent when contacting

consumer – as consumers are faced

they are more likely to be interacting

a call centre, and problem solving

with more choice than ever, and a

with the business frequently – whether

remains the number one outcome

growing number of channels to use

they are looking at ways to get more

they are wanting to achieve. While

their voice.

value out of their products, finding out

digital channels like chat, for example,

about new offers or logging queries.

definitely have their place in providing

One such trend has seen businesses

This also means they are then more

positive CX, our research over the last

grouping consumers based on

likely to switch providers based on

two years gives us strong evidence that

perceived potential – measured

unsatisfactory CX.

human connection remains incredibly

through specific behavioural patterns,

important to all consumers.

such as spend for instance – and then

Merchants’ consumer research carried

providing each group with a different

out in Q2 2021 found that South African

Businesses looking to remain relevant

experience.

consumers are likely to switch providers

need to ensure they are focusing

based on unsatisfactory CX – usually

on creating a personalised, positive

Using a bank as an example, high net

switching after an average of 2 - 5

experience for all consumers, regardless

worth individuals might be given access

negative experiences.

of their perceived potential. n

12th Edition | TOP500 | 57

AFTER 130 YEARS WE ARE

UNSHAKEABLE AT

PPC 130

years

Here is to celebrating 130 years of being unshakeable as the number 1 ranked Top500 organisation in the Cement Sector. Thank you Mzansi.

#130YEARSUNSHAKEABLE ppc.africa | 0800 236 368

BUILDING STRONGER AND UNSHAKEABLE PARTNERSHIPS

FOR 130 YEARS Thanks to Top 500 for two consecutive years as the Number 1 ranked Best Managed Company in the Cement Sector.

We know it takes the best products, people, customers and partners to stay this strong, and we look forward to the next 130 years building unshakeable partnerships.

PPC

#130YEARSUNSHAKEABLE

130

ppc.africa | 0800 236 368

years

Sector overview | cement

Building towards a green transition Support for the local sector as it embraces sustainability

by Koketso Mamabolo

W

hen it comes to reaching sustainability targets, the cement sector is considered one of the ‘hard-to-abate’ sectors.

These are the sectors where the cost and the technology available does not allow for a simple transition to a green economy. This has not stopped the cement sector from enthusiastically committing itself to more sustainable

practices and actively taking steps towards the net-zero emissions target. And with recent protectionist measures, which were welcomed by the South African sector, some of the costs involved may be eased by growth in local sales.

Supporting the local sector

With significant public sector projects

on the government’s agenda:

Statistics South Africa’s latest numbers

planned for the next decade, the cement

“Through innovative funding and

on purchases in the construction sector

sector will likely benefit from the R100-

improved technical capabilities, we have

showed cement sales totaling almost

billion allocated for the Infrastructure

prioritised infrastructure projects to

R9-billion in 2020, compared to the over

Fund. In the 2022 State of the Nation

support economic growth and better

R9.2-billiion sales achieved in 2017.

Address, President Cyril Ramaphosa

livelihoods, especially in energy, roads

highlighted how high infrastructure is

and water management.”

As part of efforts to give the local industry a boost, the National Treasury announced a new protectionist policy which prohibited imported cement in state-funded construction projects.

“This is an important ruling to protect a sector vitally important for the national economy,” said Cement and Concrete SA CEO, Bryan Perrie, in the industry bodies statement. “Furthermore, it has come at the right time given the multi-billion rand infrastructure projects planned by the government over the next three years.”

“The designation of cement will assist in protecting the local cement industry from unfair competition.”

60 | TOP500 | 12th Edition

cement | Sector overview

Putting the environment first The ‘hard-to-abate’ status of the cement sector stems from the amount of energy and raw materials required to produce the cement which is at the very heart of the majority of construction projects.

The extraction of limestone is integral, as is the clearing of land, and the need for water nearby, which is in danger of pollution Hence the need for the use of secondary materials, otherwise known as Alternative Fuels and Resources (AFR). This is part of the sector’s commitment to the United Nations Framework Convention on Climate Change (UNFCCC).

“In response, to comply with CCSA [Cement and Concrete SA] climate change commitments in line with the national NDC and Paris Agreement, CCSA member companies aspire to net

Graph sourced from Cement and Concrete SA

zero emissions by 2050 with milestones informed by decarbonisation along a 1.5-degree trajectory,” said CCSA Industry Executive, Dr Dhiraj Rama. “The key initial milestone will be set at 2030.”

The sector is holding itself to account, with CCSA member companies, which include established industry leaders and relatively new roleplayers, committing to reporting and monitoring emissions and exploring alternative energy sources.

Industry policy on AFRs 1.

2.

3.

4.

5.

6.

7.

Ensure occupational health and safety Keep the environment safe Refuse banned wastes Guarantee quality Offer waste management solutions to society Comply with regulations and best practice Communicate transparently

Graph sourced from Cement and Concrete SA

Sources: Statistics South Africa | Cement and Concrete SA | SA Gov Lombard Odier

12th Edition | TOP500 | 61

CREATING CONCRETE POSSIBILITIES FOR OVER 88 YEARS TAKES OPTIMAL PERFORMANCE

We are honoured to be recognised as one of the Top 500 Best Managed Companies in South Africa – a title underpinned by our core value of Performance.

We have upheld our ranking as a leading construction materials company in Southern Africa for almost nine decades. We strive to continuously deliver value to our stakeholders, develop our nation through locally produced high quality products and make a sustainable difference in the communities we serve.

www.afrisam.com

Creating Concrete Possibilities

ACTOM | editorial

Working across sectors Interview with ACTOM’s CEO, Mervyn Naidoo

Mervyn Naidoo

H

aving been at the helm of the ACTOM Group for five years, Mervyn Naidoo has

had to steer the Group through some of the toughest challenges businesses around the world have had to face over that period. The pandemic and conflict in Europe have been a test of his team, and his leadership. “Our management team has managed to navigate through this crisis and emerge a stronger company, with minimal jobs lost over this time,” says Mervyn. In 2023, ACTOM - which specialises in the design, manufacturing, supply and servicing of electro-mechanical equipment - will be celebrating its 120th anniversary. Here Mervyn takes us through his most memorable achievements, and the services ACTOM offers.

factory loading which posed a major

We’re a high-speed rotating equipment

challenge in terms of under-recoveries,

specialist service provider, offering

costs and cash management. Our

comprehensive workshop and site

management team has managed to

services on steam turbines, compressors,

navigate through this crisis and emerge

pumps, gearboxes, as well as general

a stronger company, with minimal

machining and fabrication, submerged

jobs lost over this time. The true test

Arc Micro welding as well as new shafts

of leadership is when one manages

and repair, grinding and micro welding of

through turbulence, adversity and

all types of rotating equipment and other

a downward economic cycle. This is

mechanical components.

particularly memorable for me and I am proud of how we managed to navigate

Please discuss South African

through this period.

manufacturing in relation to the country’s Just Energy Transition

Please describe ACTOM’s services

The energy transition is a major disruptor

and the sectors you operate in.

and a positive one for manufacturing as it

We operate in the following sectors:

has the potential to trigger major product

Utilities, Municipalities, Mining, Renewable

diversification opportunities for local

Energy, Petrochemical, Steel, Paper,

manufacturers. Demand is going to be

Cement, Rail and General Industries.

stimulated, which will culminate in major job creation opportunities as

ACTOM’s offering includes design,

well as the revitalisation of the South

manufacturing, supply and service of

African economy.

utility boilers; high voltage equipment; MV switchgear; mini-substations; power transformers; distribution transformers; protection and control solutions; electric motors; DC power solutions; industrial batteries; UPSes; cables; cable accessories; lamps; lighting equipment;

What have been your most

solar water geysers; industrial fans;

memorable achievements as CEO?

electrical equipment for open cast mining,

I have been in the Group CEO role for

rail transportation, railway signalling

over five years, and during this time

equipment and turnkey systems motors;

I’ve had to navigate our Group through

generators for excavators; off-highway

a period of low economic growth, a

vehicles; locomotives; drilling and

generally depressed capital cycle, the

pumping applications; high, medium and

COVID-19 pandemic and the conflict in

low-voltage, flameproof, DC and traction

Ukraine. We had to endure depressed

motors.

Address: ACTOM, 2 Magnet Road, Knights, 1413 Tel: (011) 820-5111 OR (010) 136-0200 Email: actom.marketing@actom.co.za Website: www.actom.co.za

12th Edition | TOP500 | 63

editorial | Manufacturing Sector Overview

Reindustrialising South Africa Manufacturing is on the recovery

by Koketso Mamabolo

W

ith one of the biggest economies on the continent, supported by an established network of inf rastructure and ports of entry, it’s no wonder South Africa’s manufacturing industry employs over a million people, recording sales of over R2-billion in 2021.

The fall and rise

year-on-year, closely followed by 12.2%

According to Statistics South Africa,

in February. The growth slowed in April,

general manufacturing sales (at current

May and June, dipping below 10%, before

prices) in 2021 hit a five-year high after

bouncing back to 11.6% in July.

falling to a low not seen since 2016. The

1 170 000

COVID-19 pandemic was a massive blow to the sector, which resulted in sales dropping by 11% in 2020 due to low economic activity. The sector made a

Gross earnings paid to employees

spectacular recovery in 2021, with sales rising by a staggering 16%.

The pandemic may have hurt the local industry but it did not change how important it is to the South African

Employment in the manufacturing sector

R74 478 000 in June 2021

R77 765 000 in June 2022

total employees in June 2022

1 094 000

full-time employees in June 2022

76 000

part-time employees in June 2022

economy. Almost half of the total export earnings in 2020 were from manufacturing, and in that same year, it contributed 13% to South Africa’s GDP.

Powering renewable energy

As 2022 draws to a close, monthly sales

The electro-mechanical manufacturing sub-sector is likely to rise in sales in

up to July suggest that this year could see

production as South Africa accelerates towards a renewable energy supply

the sector performing even better. Sales

in the coming year. All three aspects of the energy pipeline - generation,

in all seven months have surpassed those

transmission and distribution - will require electro-mechanical firms to ramp

of the same months in the previous, with

up production to meet the demand.

January recording a 13.4% increase in sales

64 | TOP500 | 12th Edition

Manufacturing Sector Overview | editorial

Electrical machinery manufacturing production

15.5%

increase year-on-year in February 2022

1.6%

increase year-on-year in July 2022

Electrical machinery manufacturing sales (July 2022)

R5 864 000 14.6% year-on-year increase

Untapped potential While presenting a report for Proudly SA, Pan African Investment and Research Services economist Dr. Iran Abedian highlighted the potential the industry holds: “Manufacturing in South Africa,

intergenerational infrastructure

significance of reducing carbon

given the structure of our economy, has

provision programme while the private

footprint for all goods and services,

a positive multiplier effect to the tune of

sector in diverse industries focuses on

and the escalation in the cost of energy

1.3 times because if you inject 10% into

industry-specific dynamics,” said

in all its forms are but a few examples

manufacturing, the total economy is

Dr. Abedian.

of the constraints within which global

better off 13%.

manufacturing needs to redefine “Sufficient investment in any

its operations.”

“So for every rand that you inject into

sector, including manufacturing, is a

manufacturing investment, you're going

necessity for sustainable growth and

In March, sales were at the highest of any

to get R1.30 back.”

development,” reads the report. “Gross

month in the past seven years at over

fixed capital formation has shown to be

R260 billion. This is in line with the trend

Dr. Abedian noted that this potential will

an important driver of economic growth

over the last two years where new ceilings

require the private and public sectors to

in South Africa.”

have been set, and sales only dipped

each play their roles, in an industry that

below R200 million in only two of the

has become more capital-intensive over

The report touches on the need for the

previous 19 months. While the outlook

the years. This relationship will be a key

manufacturing sector to adapt to the

has not always been positive, things are

driver of reindustrialisation. “The success

limitations created by the urgent need

certainly looking up for one of South

of South Africa’s reindustrialisation

to address climate change and rising

Africa’s key sectors. n

rests on an effective partnership

energy costs. “The growing concerns

framework within which the public

for environmental sustainability, the

Sources: Stats SA | Engineering News |

sector implements a well-coordinated,

rising consumer awareness about the

Proudly SA

12th Edition | TOP500 | 65

Sector overview | B-BBEE

Progress in meeting targets on B-BBEE ownership Significant progress, but challenges in some areas

by Sinazo Mkoko

I

n 2023 it will be two decades since the Broad-Based Black Economic Empowerment (B-BBEE) Act – which established the BEE Commission – was passed. The Act’s mission is to advance and enhance economic transformation and the participation of previously disadvantaged people in the South African economy through diverse but integrated socioeconomic strategies

that include, but are not limited to, increasing the number of black people who own, manage and control enterprises and productive assets. entrepreneurs in townships and rural

this acquisition by a black and female-

areas. These entrepreneurs have

owned company of a liquid fuel terminal

difficulty accessing finance, markets,

is a historic development.”

technology and infrastructure. There is red tape and other bureaucratic

Government’s commitment

obstacles. On a wider scale, there is also

President Ramaphosa reiterated the

the concentrated nature of the economy

government’s commitment to entrench

and ownership patterns, and exclusion

and deepen economic empowerment

from major value-chains,”

is unwavering. “That is why black

- His Excellency..

economic empowerment is an integral

President Ramaphosa announced the appointment of the new Broad-Based

part of our economic reconstruction and recovery in the wake of the COVID-19 pandemic,” he said.

Speaking at this year’s inaugural Black

Black Economic Empowerment

Industrialists and Exporters Conference,

Advisory Council. The Council,

“While there has been significant

President Cyril Ramaphosa said while

comprising government, business,

progress over the last two decades,

the country’s democracy is 28 years old,

labour and other stakeholders, was

there are some areas where there

there are still barriers preventing black

established to champion the cause of

has been regression. We have gone

entrepreneurs from meaningful and

economic transformation.

backwards when it comes to increasing black management control, upscaling

equitable participation in the economy.

According to the 2020 report by

skills development, entrenching

“These barriers are particularly

the Broad-Based Black Economic

enterprise development and broadening

challenging for women, youth

Empowerment Commission, “most

procurement to give opportunities

and persons with disabilities. They

economic sectors are falling short of

to black women and the youth,” said

are particularly challenging for

their black women ownership targets,

President Ramaphosa.

66 | TOP500 | 12th Edition

B-BBEE | Sector overview

Banking industry In the latest report released by the Banking Association South Africa (BASA), Managing Director, Bongiwe Kunene said that without commercially sustainable banks, B-BBEE and inclusive economic growth would be much slower in the country.

“Banks are the single largest source of financing for small and medium enterprises (SMEs), withR34.5 billion in different kinds of finance extended to black SMEs in 2020. SMEs have long been identified as the best way to grow the economy in an inclusive manner, address concentration, create jobs and reduce poverty and inequality.”

“Banks are committed to inclusive economic growth, empowerment and transformation of the economy. They have long acknowledged that the present patterns of unemployment, poverty and inequality threaten the social and political stability on which South Africa depends.”

suppliers in 2020 against an industry

“It is going to take not only the

target of 80% despite the lockdown

Commission’s oversight, but also the

restrictions on business activities.”

governance committees of various companies to scrutinise their own BEE

South African sectors

deals to make sure that those are not

in general

fronting deals,” she said.

The 2022 Sanlam Gauge report revealed that most sectors and companies in South Africa are still struggling to meet their targets on ownership. The report is based on the B-BBEE scores of over 10 000 companies, measuring transformation across all sectors in South Africa. While there’s been a slight

“We are really concerned about that.

We cannot do anything about what happened in the past, but we should be able to deal with it going forward.

Cooperation between the government, private sector and regulator is going to be very important.”

increase from last year, black ownership

“Fronting is not only misrepresenting

stood at 74.8% against a target of 100%.

your B-BBEE status as a company, but also a criminal offence. If you say

FRONTING CHALLENGES

you have black ownership and you do

“South African banks are fully

Speaking about the challenges of

not have it is a criminal offence. If you

committed to achieving the

making companies comply with

submit a B-BBEE certificate to an organ

transformation targets set out for them

transformation legislation, head of the

in the Financial Sector Code (FSC). This

B-BBEE Commission, Zodwa Ntuli told

is best illustrated by the fact that they

Top Empowerment that more than

often go beyond the targets set for

80% of the complaints received by

them, particularly in equity ownership,

the Broad-Based Black Economic

procurement and financial inclusion.

Empowerment Commission (B-BBEE

Sources: DTI | B-BBEE Commission

Commission) relates to fronting, which

The Presidency | BASA | SA Gov |

is a major concern.

2022 Sanlam Gauge

In procurement for example, banks sourced 82% from BEE-compliant

of state for tenders or bid concessions and that certificate sells you as an empowered company when that is not the case, it is a criminal offence,” said Hon. Ntuli. n

12th Edition | TOP500 | 67

editorial |

Promoting the empowerment of people and businesses in SA

T SECTOR 2022 1S I N

VERIFICATION AGENCIES

Interview with Deirdre Mitchell, Managing Director , Honeycomb BEE

What does winning the top 500 best managed companies in South Africa mean to Honeycomb BEE Ratings?

Honeycomb prides itself on building relationships with its clients but if we cannot get this right within our organisation, it won’t flow to our clients. It is an ethos we have built and being Best Managed means our clients and staff agree with us in this regard. We stand by our clients and staff and together we make Honeycomb BEE Ratings who it is today.

Your sector is so important to the Deirdre Mitchell

development within South Africa. Can you tell us about some of your clients?

We pride ourselves on verifying about 70% of the Top

H

companies in South Africa. We have also become very prominent in the Mining Sector with companies

oneycomb BEE Ratings is an independent, nationally-

like Anglo Platinum, De Beers, Northam Platinum,

based SANAS Accredited verification agency that

Harmony Gold and ASSMANG to name a few. The

conducts professional and impartial verifications of all

growth in the Mining Sector has resulted in these

enterprises, across all sectors, countrywide. The agency believes

companies working towards transformation within

in the universal values of honesty, integrity, non-discrimination

their respective companies. A huge part of the

and reliability for each and every decision taken by Honeycomb

transformation is Skills Development which is playing

relative to every BEE verification process and retain authority

a massive part in transforming and developing our

over all such decisions. With a commitment to fostering long-

country. It is the best part of what we do, to see this

term relationships with all stakeholders, the agency aims to

growth year on year, the development and investment

become and remain the leading B-BBEE ratings agency in

back into the communities is uplifting and rewarding.

South Africa.

68 | TOP500 | 12th Edition

Honeycomb BEE Ratings | interview

You have an incredibly successful Pro Cycling Team that has taken South Africa by Storm! You have won races from road, gravel and mountain bike like Cape Town Cycle Tour and Sani2C- How did it start and tell us about the team?

To run a successful team, there are many facets that need to work together, needed to create an environment where an individual can feel confident to achieve at their ultimate best.

Our cycling team is made up of top riders and management, but more importantly of people who respect each other, their fellow riders and accordingly achieve. Honeycomb is proud of our Pro Cycling team not just because of the phenomenal results, but because of what they symbolise, there is strength in unity.

Staff and teamwork mean so much to you. What advice can you give companies out there on how to retain staff?

Honeycomb’s ethos is built on

the company and know that we are only

“Honeycomb pioneered the electronic verification process and we run one of the most efficient processes, as we kept moving, we did not stop and wait.

I took the time to qualify our whole team of analysts by putting them through the B-BBEE MDP at Wits last year.”

as strong as our weakest link. This ethos led to the formation of a Pro Cycling team, who would not achieve results were it not for the support of the team behind each and every winner. I have built Honeycomb on this principle. This proves that no-one is on their own, they have the support of the team, together we know more than one person alone and therefore together we can handle audits and challenges efficiently and

teamwork. We trust each other within

12th Edition | TOP500 | 69

editorial | Honeycomb BEE Ratings

effectively. When we started with

BBBEE VERIFICATION PROCESS

Honeycomb, my biggest experience was

Steps in a Verification Process

that as a mother.

Our process is effective and simple

I then treated my small team the same as I would my children. I care, listen and show an interest. I reprimand them when they are in the wrong, compliment when they achieve and more importantly reassure them all the way. This has led to a team of staff who are family, who work together like “well oiled machines” but more importantly who care about each other and the welfare of the business. This means they need to care about their clients as this creates sustainability.

“Business woman” is such a powerful term. Can you give us something you learnt that kept you motivated to this point, and what still keeps you motivated?

My biggest lesson is that I never know enough. I need to keep learning and when I think I know it all, (Im talking about B-BBEE) I stop and remind myself I need to keep reading and learning. I need to keep moving and evolving, both personally and in the business. The last 2 years everyone stood still waiting for something to happen or for us to go back to where we were. The reality is that we are now in the “new norm”.

Honeycomb pioneered the electronic

Pre-Rating Assessment

verification process and we run one of

A pre-rating assessment is conducted

the most efficient processes, as we kept

on all of the evidence collated by the

moving, we did not stop and wait. I took

client, and is verified by Honeycomb

the time to qualify our whole team of

through an on-site visit. The result of this

analysts by putting them through the

exercise is a BBBEE scorecard, indicating

B-BBEE MDP at Wits last year. Each

the points received for each element as

and everyone passed with exceptional

well as the BBBEE Contribution status.

results and we are now the only agency

This exercise is useful for companies to

in South Africa presenting a FULL team

determine their readiness for an on-site

of analysts with MDP’s.

BBBEE verification.

We have just recently purchased

Collation of Documents and Information

another agency in Cape Town and will

The collation of evidence that supports

proudly have a strong presence in Cape

your BBBEE score is essential, since the

Town with Honeycomb BEE Ratings

rating process is based on the evidence

Cape Town. We now have a nationwide

submitted. Our collation service team will

footprint and this is with offices housing

assist in collating the proper evidence

qualified analysts, not an analyst

that is required for your BBBEE rating.

working from home within a

Please note, Honeycomb is unable to

designated area.

Consult and perform the Verification. n

BEE Ratings On-Site Document Verification A Broad-Based rating is an in-depth process and an On-Site Verification of the evidence submitted for each one of the elements is required. The end result of this process is a Rating Certificate issued by Honeycomb that may then be used by the measured entity when tendering for government business or for other procurement purposes.

70 | TOP500 | 12th Edition

Address: 27 14th Avenue, Northmead, Benoni Tel: 0861 HONEYCOMB (466 392 662) 010 823 2332 Email: info@honeycomb-bee.co.za Website: www. honeycomb-bee.co.za

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Sector overview | energy

The light at the end of the tunnel could come from renewable energy Is South Africa ready?

by Sinazo Mkoko

I

t was in November 2021 when the South African government announced that President Cryil Ramaphosa had joined other leaders in announcing a historic partnership with the governments of France, Germany, the United Kingdom and the United States, as well as the European Union, to support a just transition to a low carbon economy and a climate resilient society

in South Africa.

Through the Political Declaration

President Ramaphosa stated: “Climate

A joint task force will be established to

issued to establish this partnership, it

change is an existential challenge

take forward the partnership over the

was stated that partner countries will

that confronts us all, and South

coming months.”

mobilise an initial $8.5-billion over the

Africa is committed to playing its part

next three to five years through a range

in reducing global emissions. The

The Political Declaration on the energy

of instruments, including grants and

partnership that we have established

transition in South Africa included

concessional finance, to support the

today is a watershed moment not only

recognising that South Africa requires

implementation of the revised NDC

for our own just transition, but for the

a transition that is just, especially as

through a just transition to a low carbon

world as a whole. It is proof that we can

there are several important sectors of

and climate resilient economy.

take ambitious climate action while

its economy that may otherwise be

increasing our energy security, creating

negatively affected, including mining,

jobs and harnessing new opportunities

energy, manufacturing and transport

for investment, with support from

and the need to establish an ambitious

developed economies.”

long-term partnership to support South Africa’s pathway to low emissions

The Declaration added that at the heart

and climate resilient development,

of this partnership was the importance

to accelerate the just transition and

of a just transition, which includes

the decarbonisation of the electricity

support for workers and communities

system, and to develop new economic

affected by the transition away from

opportunities such as green hydrogen

coal and enables the creation of quality

and electric vehicles amongst other

green jobs. “For the transition to be just,

interventions to support South Africa’s

decarbonisation must be implemented

shift towards a low carbon future.

in a manner that promotes and sustains

72 | TOP500 | 12th Edition

employment, livelihoods and economic

In June 2022 Eskom announced that

inclusion for historically marginalised

the power utility had planned to lease

communities and sectors of our society.

land in the Mpumalanga province to

energy | Sector overview

renewable energy producers to

be added to the grid without any cost to

feed production into the grid.

the taxpayer,” - Andrè de Ruyter.

Eskom Chief Executive Officer, Andrè de Ruyter, said that they had selected 18 companies to lease land for the development of renewable energy projects.

The current bids cover about

The Climate Business Initiative (CBI) reported in Climate Pathways and a Just Transition for South Africa report that decarbonising South Africa’s energy supply requires an unprecedented rollout of renewables.

4 000 hectares (ha) out of the total 36 000 ha available under

The CBI emphasised how renewable

the programme, according to

energy is critical to drive a 60% reduction

the power utility. “This shows

of emissions in the country. n

what can be achieved with reduced red tape and the impact of the liberalisation of the energy

Sources: Energy | The Presidency | NBI

sector. This additional capacity will

SA Gov | World Bank | Just Share

National direct annual emissions abatement potential by decarbonisation lever category (%)

Renewables

Other mature tech levers

Tech in early adoption

Require nature-based sinks & offsets

12th Edition | TOP500 | 73

Sector overview | Transport and Logistics

Parcels of growth Expansion in the courier services industry

by Koketso Mamabolo

W

ithin the transport and logistics sector, courier services such as the express parcel industry have rapidly grown, as have their importance to economic activity. This was even more evident during the worldwide lockdowns which saw much of the activity brought to a halt, mitigated by the existing networks of courier services which could quickly scale and

seamlessly deliver goods to people’s homes.

e-Commerce on the rise

through contactless transactions

Shipments made within 48 hours are

which can reduce the movement of

considered “express”. According to

consumers, and the density of shoppers

South African Parcel Association (SAEPA)

in retail spaces.”

CEO, Garry Marshall, the express parcel industry almost doubled in

The view from the private sector is

the previous decade.

the same, and the expansion is bound to draw the attention of investors.

In 2021, he noted that the industry had

“e-Commerce is the fastest growing

a R8-billion turnover in 2012, but had

segment of the express logistics

ballooned to R20-billion in the space of

business,” declared Marshall.

66%

nine years. Even before the pandemic,

growth in 2020

the industry was on the rise. COVID-19

(iKhokha e-Commerce Trends for 2022 Report)

only tested how robust it was to rapid

41st

change, and ultimately ushered in a new era of business.

largest e-Commerce market

Given how many businesses are taking their products online, allowing consumers to order from the comfort of their homes, this evolution is set to enable widespread growth. At the height of the pandemic, Economic Development Minister Ebrahim Patel said, “e-Commerce can be a critical enabler to opening the economy

74 | TOP500 | 12th Edition

Couriers are regulated by the

18 000

formally employed

10 000 vehicles

Independent Communications Authority of South Africa (Icasa). Packaging weighing less than 30kgs is classified as a postal article.

Transport and Logistics | Sector overview

Courier services industry growth potential: South Africa and global

•

$2.2-billion in 2020

•

$3.5-billion by 2027

•

7% Compound Annual Growth Rate

•

$706-billion by 2027

•

(South African Courier, Express and Parcel market size)

(South African Courier, Express and Parcel market size)

(2021 - 2027)

(Global Courier, Express and Parcel market size)

5.7% CAGR (2021 – 2027)

(Projections by Market Research)

Potential for more growth

have to think more clearly about

Marshall believes that in some cases the

bringing stock closer to consumers to

market grew by as much as 80% in 2020.

reduce inefficiencies. The report states:

“What we saw in the early stage of the

“In South Africa, requirements for new,

COVID-19 pandemic is that B2C sales

modern, and efficient distribution

skyrocketed in South Africa.”

centres remain stable, and demand has outperformed all other asset classes and

What the industry offers consumers is

industrial sub-segments, resulting in an

convenience. It even has a role to play

overall income return of 9.2% and capital

in the consumer-to-consumer sphere,

growth of 0.8% in 2020-2021.”

for goods brought on platforms like Facebook Marketplace. The informal

The wider transport and logistics sector

sector also holds untapped potential

is being bolstered by developments

for growth.

in South Africa’s trading partners. The

Speaking about the potential e-commerce holds, Minister Patel went on to say, “Further it can accelerate innovation, support local manufacturers and increase access by the informal market and poorer South Africans.”

demand for local products has risen, due to increased growth with the countries South Africa trades the most with. “South Africa is experiencing a record trade surplus in the wake of the COVID-19 pandemic, with exports far outpacing imports.” n Sources:

According to a report by Mordor

Engineering News | Daily Maverick |

Intelligence, distribution models have to

Market Research | Mordor Intelligence |

be improved constantly, and businesses

iKhokha | ecommerceDB | IOL

12th Edition | TOP500 | 75

Sector overview | Engineering

Setting the foundation for growth Government and business working together

by Koketso Mamabolo

I

nfrastructure is at the very core of a thriving economy. It supports the movement of goods and people, allowing services to be provided and needs fulfilled. It’s for this reason that infrastructure development has formed an important part of the government’s plans for stimulating economic growth. This commitment was reinforced at an Infrastructure Indaba in

August, with a 30% increase in spending announced by the National Treasury.

A step forward

“This is an important step forward in

to bridge the gap between what’s

The National Treasury has earmarked

terms of moving closer to the NDP

required and the funds and expertise

R812-billion over the next three years

targets, and it is an important signal to

available in the public sector. In the

for public infrastructure, with an

investors and the industry and society

executive summary, the department

emphasis on public-private partnerships

that the government is committed to

says: “Infrastructure development is vital

and the role they can play in creating

ramping up infrastructure.”

to attaining South Africa’s long-term economic and social goals.”

a foundation for economic growth.

Speaking at the Infrastructure

In March 2022, the Department of

Indaba, Finance Minister Enoch

Public Works and Infrastructure

They also highlight how the plan keeps

Gogodongwana highlighted how

gazetted the National Infrastructure

in mind the need to transition to a

integral this commitment is to attracting

Plan (Phase 1), detailing the state’s

sustainable economy that positively

the investment required to drive

plans, which recognise the need for

impacts the environment and the

development.

collaboration with the private sector

lives and livelihoods of South Africans.

76 | TOP500 | 12th Edition

Engineering | Sector overview

“Infrastructure delivery will be one of the most significant contributors to South Africa’s transition from a historically closed minerals economy to one that is globally and regionally integrated, low carbon, inclusive and promoting of dynamism in the industries of the future.”

Public-Private Partnerships Steel and Engineering Industries Federation of Southern Africa (SEIFSA)’s CEO, Lucio Trentini, shared with Top 500 his thoughts on the need for publicprivate partnerships in developing the South African economy:

officials, businesses and engineers

In order to reach the targets set out in

around the theme “Engineering the

the National Development Plan (NDP),

“The involvement of the private sector in

future now”.

the private sector’s contribution will

infrastructure development has never

need to grow by 10.2% from the figure The relationship between various

recorded in 2020. Over R6-trillion will be

going to turn its fortunes,” said Lucio.

stakeholders, particularly the

required to meet the NDP development

involvement of the business community

objectives between 2016 and 2040, with

“Private-public partnerships (PPP) will

- who have the funds and expertise

energy and transport representing 72%

needed - which has come into sharper

of the spending.

been more important if South Africa is

allow the state to tap into the resources, financial and otherwise, that are

focus as we reflect on the decline in the value of public-private partnerships

In his address at the Infrastructure

provision of infrastructure.”

in the past decade. Between 2010 and

Indaba, Finance Minister, Enoch

2020, public sector capital investment

Godongwana announced plans to

This was evident at the Infrastructure

averaged 5.8% of GDP, while private

address the decline in public-private

sector investment averaged 11.2%. Total

partnerships, following a review which

capital investment came in at 13.7% of

found issues with the red tape required

GDP in 2020.

to make the partnerships a reality.

available in the private sector for the

Indaba, hosted by Consulting Engineers South Africa (CESA) in August. The indaba brought together government

“A PPP review concluded by the National Treasury has emphasised the need to simplify approval and compliance requirements, and reform the policy framework to assess and prioritise PPPs. “To address this, we aim to create a centre-of-excellence for PPPs, as well as introducing an expedited approval process for projects below a predetermined value. This centre-ofexcellence will be a direct interface with private financial institutions for investments in critical government infrastructure programmes.” n Sources: Businesstech | SA Gov

12th Edition | TOP500 | 77

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dividing the land into management

innovative products, services and

zones. These zones are then treated

technologies that have enhanced

according to their production potential

customer and societal value. Omnia

to ensure that water and fertilizer are not

Nutriology® was first to market with its

wasted on marginal soil, and that the

liquid fertiliser range, which has paved

right investments are made to ensure

the way for precision agriculture as it is

yield and quality.

known today.

Satellite imagery and the unique Zambia is a key exporter to the region

algorithms created and tested by Omnia,

in markets that experience agricultural

enable farmers to monitor the nitrogen

deficits, including the DRC, Angola,

levels in their crops, possible moisture

Malawi and Namibia. Large commercial

deficits, and even impending pest and

farmers are financially secure,

disease outbreaks.

independent of government subsidies and follow modern farming techniques.

Omnia Sustainability Award

In the earlier stages of the move to

Omnia was recently awarded the

greener agricultural inputs, farmers are

2022 CFI Best Sustainable Diversified

focused on soil health as an important

Chemicals Group in Africa. n

factor to increase yields. Omnia Nutriology® holistically delivers to these farmers’ requirements.

Major European retailers are setting up

Zimbabwe: Export crops require

contracts with local suppliers, assessing

a sustainable approach

their on-farm practices relating to

Omnia’s focus on niche export crops in

environmental, sustainability and

Zimbabwe, including tobacco, soya and

governance practices. Thus, the issue

sugar cane, require traceability and a

Website:

of soil health is an important one, as

green mindset, which means that the

www.omnia.co.za

For more information: Email: nutriology@omnia.co.za

12th Edition | TOP500 | 79

Sector overview | Accounting and Consulting

Rebuilding trust in the accounting sector remains a priority

by Sinazo Mkoko

T

he value of transactions is preserved by the proactive anticipation and resolution of issues under International Financial Reporting Standards (IFRS, formerly IAS), tied with an understanding of the impact of among others; financial markets, corporate governance, rating agency and regulatory concerns. This is according to PwC - a global accounting firm that

offers audit, assurance, tax, and advisory service.

PwC South Africa stated that in these

In its 2021 report, SAICA said that reliable

volatile capital markets, there is

and trusted accountancy professionals

increasing complexity in accounting

are the foundation of the well-

and financial reporting. The accounting

functioning capital markets and trusted

firm said the “International Financial

finance ecosystem that South Africa

Reporting Standards (IFRS) continues

depends upon to recover from its

to change the landscape of financial

current challenges and reach its full

Thuthuka initiative

reporting developments and companies

potential.

The Thuthuka Education

are being challenged to meet “triple

Upliftment Fund is SAICA’s

SAICA Chairman, Vincent Motholo, said:

pioneering initiative to promote

“Ensuring that inappropriate behaviour

transformation in the profession.

At the forefront of developing,

does not go unpunished is essential

influencing and leading the highest

to drive ethical behaviour and restore

Its objective is to transform the

standards of ethics, education and

trust in the profession. The ongoing

professional excellence in the delivery

revelations of accounting/auditing

of quality accountancy skills is the

misdeeds and corruption during

South African Institute of Chartered

the year, some of which implicated

Accountants (SAICA).

SAICA members, re-emphasises the

bottom line” reporting best practice.”

importance of timeous and transparent The institute does this by safeguarding

disciplinary action where members

the professional standards of the

are found to have transgressed. We

designations on offer; advancing

made good headway in this regard

and maintaining the relevance of

during 2021, increasing the number of

the profession; and by regulating the

disciplinary complaints concluded by

members’ and associates’ professional

96% and publishing quarterly progress

conduct against the SAICA Code.

reports on the SAICA website.”

80 | TOP500 | 12th Edition

demographics of the profession to reflect those of the country in terms of race and gender, and provide educational support to African learners and students for the benefit of the profession, while simultaneously helping to uplift communities

Accounting and Consulting | Sector overview

Sharing his sentiments, SAICA Chief Executive Officer, Sithembiso Freeman Nomvalo, said restoring the reputation of the profession remains a priority.

“Professional integrity, adhering to the highest standards of ethical conduct and avoiding conflicts of interest are the bedrock of the accountancy profession. We take allegations against members extremely seriously and note the members mentioned in the Zondo Commission Report. All members who are found to have contravened SAICA’s Code of Professional Conduct will be held accountable.” n

It was in 2011 when the legally constituted financial reporting standard-setter for South Africa, Financial Reporting Standards Council was formed. Previously, the Accounting Practices Board, a private sector body consisting of a number of accounting and industry bodies, was empowered to issue accounting standards for use by South African companies.

The Council has responsibilities identified section 204 of the Companies Act: •

To receive and consider any relevant information relating to the reliability of and compliance with financial reporting standards and adapt international reporting standards for distinctive local circumstances;

•

To advise the Minister of Trade and Industry on financial reporting standards matters;

•

To consult with the Minister on regulations establishing financial reporting standards.

Sources: SAICA | PwC | National Treasury

12th Edition | TOP500 | 81

Sector overview | Asset Management

Asset Management in South Africa It is no longer business as usual

by Sinazo Mkoko

T

rust is a crucial component in the asset management sector and asset management companies in South Africa have managed and continue to build that trust with their clients, despite the challenges faced during a global pandemic.

According to PwC - a corporation that aims to help organisations and individuals create the value they are looking for, by

delivering quality in assurance, tax and advisory services, there are several challenges that the industry needs to confront post COVID-19, in order for it to thrive.

Survey

The Ninety-One CEO, Hendrik du Toit

In April this year, the Alexforbes

said that they operate and invest in

Manager Watch™ Survey released a list

a world of change and when they

of top performing asset management

launched the Ninety One brand, they

companies and their B-BBEE ratings for

thought this phrase aptly described

the past year.

what they have been about since our inception in 1991.

The Watch has kept a keen eye on the asset managers in South Africa for the past 28 years, tracking their performance and their B-BBEE ratings, and they’ve now introduced 22 surveys, one being a multi-manager survey, nine of them being balanced and twelve specialist surveys.

In its latest report on wealth and asset management, the Watch has stated that Ninety-One Wealth and Asset Management was the largest South African asset manager with close to R700-billion of assets managed in the country. The asset manager has seen a slight increase of 14% from June 2020 to June 2021.

82 | TOP500 | 12th Edition

“Over the past year, change, as ubiquitous as ever, has shaped markets, geopolitics, the global economy, our industry, and the world we inhabit.”

In their official statement, du Toit and the chairperson, Gareth Penny, said that the 2022 financial year has again been a year of two parts.

“It started with a strong market rebound supported by the global vaccine rollout and continued stimulus from central banks. In the final quarter, business conditions deteriorated markedly,” they said.

Asset Management | Sector overview

Touching on their 2022 results,

industry, its workforce and customers,

they noted: “This result reflects the

the markets and economies will survive.

robustness of our simple but diversified

In fact, the industry will learn from the

business model. Assets under

experience and become stronger for it,

management grew by 10%. Ninety One

even increasing its importance in the

generated net inflows of £5.0 billion

financial markets,” the report said. n

over the year (2021: net outflows £0.2 billion). It is particularly pleasing that we achieved net inflows in all of the major asset classes, in all our regions and in both our client channels.”

Challenges According to PwC, this is an industry that is known to excel at problem solving and it is now facing one of the greatest challenges in an increasingly globalised world that suddenly needs to raise borders and ask its citizens to batten down the hatches. “Within the Asset & Wealth Management industry, it is no longer “business as usual”. Asset managers and third party service providers need to be prepared.

While there are many challenges to be

Sources: Alexander Forbes | PWC |

confronted, the bottom line is that the

Ninety One

12th Edition | TOP500 | 83

Editorial | Kenneth Kayser

Learning from top corporations Meet Kenneth Kayser

BY Koketso Mamabolo

T

elkom’s multiple award-winning

What are the keys to starting a

intervention needs to be put in

Executive of Digital Channels

successful start-up?

place to close these gaps), previous

and e-Commerce, Kenneth

I have been fortunate to have started

failures also play a key part in

Kayser, knows better than most how

two successful startups over the years.

success as they guide you on

to build a digital business. His twenty

I gained a lot of exposure while helping

what not to do or what can be

years of experience includes time in the

Techstars (US tech accelerator) establish

done better.

financial, mining, telecommunications

its presents on the African continent

and public sectors. The PhD candidate

while at Barclays working with different

at the Johannesburg School of Business

fintech startups (helping them grow

has founded and invested in various tech

and scale). There are many success

startups in fields ranging from finance,

and failure contributors but the ones

medicine, education and property.

that stand out for me from a success perspective are:

The young executive has found success across the African continent, having

•

Your value proposition: Know

been involved with numerous Fortune

exactly what problem you are trying

Global Top 2000 corporations. We

to solve through the start-up and

find out from him what the keys are

what skills, expertise and tools you

to a successful startup, how to build a

have as a founding team to solve

commercially viable business, some of

this problem. Being honest about

the lessons he’s learnt from working

your shortcomings as a founding

with top corporations, and more.

team is key to determining what

84 | TOP500 | 12th Edition

“Failure forms part of the success process thus you must learn how to fail fast.”

Kenneth Kayser | Editorial

“Let’s start with the positives before we focus on the challenges.”

What challenges are South

we have what it takes to be an innovative

African startups facing and how

economy, there are challenges that are

can they be overcome?

keeping us from thriving.

Let’s start with the positives before we focus on the challenges. South Africa

Some of these challenges as listed by the

ranks 61st among the 132 economies

GII include; ease of starting a business,

featured in the Global Innovation Index

graduates in science and engineering

for 2021. The Global Innovation Index

as a percentage of the overall graduate

(GII) ranks world economies according

population (education), and gross capital

to their innovation capabilities. The GII

formation as a % GDP, just to name a

framework model looks at innovation

few. These are all challenges that then

from an inputs and outputs perspective

impact the start-up ecosystem. I do

through 80 selective indicators.

believe that work being done through the Start-Up Act will help improve South Africa’s start-up ecosystem and improve

•

our innovation outputs as a country.

Your team and ecosystem: People, this is probably the most important success and failure element. It’s the people that build the products, and technology and help the business grow and scale. Know what your strengths and weaknesses are, as well as those of your founding team members. Startups operate within an ecosystem thus it’s key to understand the value being created by the start-up within their specific ecosystem as well as how best to partner with the ecosystem

“South Africa has world-class corporations that compete with the very best in the world.”

What does the future look like for entrepreneurs? - How can they adapt to what’s coming?

My perspective on this question is taken from a digital one as that is where most of my experience and expertise are derived from. The concept of digital colonisation (cited from a 2019 research paper by Danielle Coleman of the University of Michigan) is something that both entrepreneurs and corporations in South Africa and Africa’s digital economies would have to become

participants.

acquitted with should measures not be put in place to improve the innovation

How does one build a commercially viable business?

South Africa over the past three years

outputs of our innovation economies.

Good question, this is a work in progress

has improved its ranking from an

Both private and public sector

for both startups and corporations.

innovation inputs perspective (from

partnerships will be key to growing and

Starting with Minimum Viable Tests

63 to 61). Innovation inputs include our

supporting South Africa and Africa’s

(MVTs). An MVT is a test of an essential

institutions, human capital & research,

digital economies, entrepreneurs and

hypothesis. Before building a Minimum

infrastructure, market sophistication and

intrapreneurs.

Viable Product (MVP), get immersed

business sophistication. These all speak

with the industry, customer and

to South Africa having both developed

Please share some of the

ecosystem in which you are planning to

and developing economy attributes thus

lessons you’ve learnt from

build your business. Then use customer

creating a perfect launchpad for startups

working with top corporations.

development techniques to validate

to launch their businesses to both

South Africa has world-class

your hypothesis and de-risk your

developed and developing markets. This

corporations that compete with the very

product and business from failure (as

must be seen as a big plus for South

best in the world. I’ve been fortunate to

best as possible). Only then launch your

African startups. Our innovation outputs

have worked in several industries like

MVP once you have worked through

such as knowledge and technology

financial services, telecommunication,

your MVTs. Failure forms part of the

outputs and creative outputs have

government ICT and mining. One thing

success process thus you must learn

ranked 68th in the world for the past

that stands out across all industries is

how to fail fast.

three years meaning that even though

our competitiveness, and because

12th Edition | TOP500 | 85

editorial | Kenneth Kayser

of the competitive nature corporates

How can we attract more

invest in their staff as well as create

investment into the country?

environments that cultivate world-class

As noted in my previous comments on

best practices. This could be one of the

our innovation outputs as a country

reasons why South African workers

and the challenges that exist with it,

are sought after the world over. As

if both the private and public sectors

noted in my previous statement about

work closely together to solve those

South Africa’s economic attributes of

challenges, then I think we can obtain

having both developed and developing

the trust of investors and attract more

market characteristics, this allows our

investment into South Africa.

corporations the ability to create holistic solutions that have global appeal.

What direction do you see e-Commerce heading in South Africa? What are the current trends: As our internet connectivity rates

“As our internet connectivity rates improve across communities in South Africa, this will enable many more people to be part of the digital economy.”

What are local and international investors looking for from entrepreneurs?

•

Think carefully about your business model (I noted the importance of an MVT framework to test the business concept)

•

Think clearly and communicate succinctly

•

Demonstrate intellectual integrity

•

Balance risk with responsibility

86 | TOP500 | 12th Edition

“Africa’s digital ecosystems are growing with regional hubs emerging across the key regions of Africa.”

improve across communities in South Africa, this will enable many more

better prospects and opportunities just

people to be part of the digital economy.

before the first democratic elections in

This potentially will allow for greater

South Africa. I completed my schooling

levels of e-commerce transactions. An

in Johannesburg and landed my first job

overall omnichannel approach will help

at age 14. So, I’ve been balancing work,

both startups and corporates, thus

studies and family responsibilities for

offering phygital (digital combined with

many years now (25 years to be precise).

physical) experiences will be key. This

I completed my first degree through

phygital trend is quite evident, a recent

correspondence (while working), then an

example of this is Meta (Facebook parent

MBA in the UK (also while working) and

company) launching a physical store

now a PhD. I was also blessed to study at

that complements its digital offering

Harvard in the US.

with Google also doing the same.

Do you see Cape Town becoming Please tell us about your story

Africa’s Silicon Valley?

- how did you get to this point,

Africa’s digital ecosystems are growing

personally and professionally?

with regional hubs emerging across the

I was born in the Cape Flats in Cape

key regions of Africa. Cape Town is one

Town in the 80s. My parents decided to

of the regional hubs with Johannesburg,

relocate to Johannesburg in search of

Lagos, Cairo and Nairobi. n

Joylynn Kirui | editorial

She’s a hacker, but an ethical one Meet Microsoft’s Joylynn Kirui Microsoft Senior Cloud Security Advocate Joylynn Kirui is what is known as a ‘white hat’ - an ethical hacker. Her job is to do everything a hacker would do to compromise a system and she’s always had consistent success doing so. The Africa Tech Week 2022 speaker has hacked into everything. It’s no wonder she was named Hacker of the Year in 2020 and recognised as a finalist in the Top 50 Women in Cybersecurity in the same year.

In this Business Unusual Podcast, we engage in conversation with Joylynn about why businesses hire hackers and how the African continent is faring on the cybersecurity front. She shares with us the importance of developers, businesses and consumers being aware of security threats and protecting personal data.

Key takeaways from this podcast: •

“A hacker has to be lucky only once”

•

We don’t care enough about cybersecurity

•

It’s important for business to anonymise their customer’s data

•

Customers need to protect themselves too

•

Developers are the first-line of defence

•

“If you don’t have security incorporated into your system it’s like you build a very beautiful house and you leave it without doors and you leave it without windows”

•

In cybersecurity, the more things change the more they stay the same

•

Black Hats compromise a system for their own benefit; White Hats are given permission to compromise a system

Joylynn Kirui is a Microsoft Senior Cloud Security Advocate based in Kenya. A computer science graduate of the United States International University-Africa, she was previously an assurance officer at Safaricom, after having held positions as a SOC analyst and information systems auditor. Joylynn’s work involves empowering developers and businesses to make their systems more secure in what she calls “developer relations’’.

Drawn to cybersecurity after being hacked in university, she now shares her knowledge through training and mentorship. n

12th Edition | TOP500 | 87

podcast | Bob Moesta

He can’t read or write, yet has developed over 3 500 innovations in 20 years Meet Bob Moesta To say Bob Moesta is a remarkable human being is a gross understatement.

Not many among us can say they literally spoke a book into existence Bob can. Having had a key role in 3 500 products being developed and brought to the world it would be an understatement to say that his knowledge could fill countless books. A speaker at the 2022 Africa Tech Week conference, Bob is one of the pioneers of the Jobs-to-be-Done theory and the author of Demand-Side Sales 101: Stop Selling and Help Your Customers Make Progress.

In this Business Unusual Podcast, Ralf Fletcher, CEO of Topco Media engages in conversation with Bob Moesta about how to get people to buy your products.

Key takeaways from this podcast: • • • •

• • • • •

Find out what you don’t know - you might not know you don’t know it Most people can’t tell you what they want - but they can tell you want they don’t want Don’t focus on your top 5 strengths - focus on your bottom 5 Big picture thinking and execution are rare in the same person.

You need to work with people who are good at what you’re bad at Before you can better understand your customers you need to better understand yourself If you want a better quality product, you have to stop inspecting it It’s okay to have to two answers “The irrational becomes rational with context” You can’t learn without being wrong

Bob Moesta is the President and CEO of the Re-Wired Group. A trained engineer and designer, the multiple degree holder is an entrepreneur who has worked in every industry you can imagine. Bob developed the Jobs-tobe-Done theory with Clayton Christensen in the 1990s and has since gone on to solve various problems using their ideas on innovation. He is a guest lecturer at Harvard Business School, MIT Sloan School of Entrepreneurship, Kellogg School of Management at Northwestern University and a fellow at the Clayton Christensen Institute. n

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mike abel | editorial

Nobody wants to do business with someone who doesn’t believe in themselves

Meet Mike Abel When it comes to advertising, Mike Abel is happy to play in the world of perception, but he also realises that “perception is reality” and when it comes to doing business in South Africa, Mike believes we need to be changing our perception of the challenges we are faced with. What we think of the world becomes our reality. As the Chief Executive Partner of M&C SAATCHI ABEL, one of South Africa’s most successful advertising agencies, Mike has had to develop a keen understanding of how products and services are perceived.

In this Business Unusual Podcast, Ralf Fletcher, Topco Media CEO, engages in conversation with Mike Abel about the Metaverse, NFT’s, art and why more people and businesses should be staying in South Africa.

Key takeaways from this podcast: •

No-one wants to do business with people who don’t believe in themselves

•

The enemy of your business is not your competitors

•

Reality becomes important when you’re trying to make a social impact

•

There’s a difference between leaving and being drawn to something

•

It’s possible to create great work while creating an impact

•

The people working with the best people win

•

You need to be a business person who is in love with solutions

•

Lessons Mike learnt from Lord Saatchi:

1.

Have some audacity - be brave

2.

You need to be able to ‘separate the wheat from the chaff’

3.

Don’t tolerate the ordinary

Mike Abel is regarded as one of South Africa’s leading business, marketing and communications specialists. He has over 30 years’ experience in helping build the most successful advertising agencies, through being able to attract and retain the best possible talent, in order to build his client’s brands and businesses. He has worked both locally and internationally over many years developing best-practice thinking and fully integrated business models and solutions to enhance both his clients and agency business performance. n

12th Edition | TOP500 | 89

Editorial | Zandile Mposelwa

Kellogg SA’s Zandile Mposelwa on pleasing stakeholders

BY Koketso Mamabolo

“I tell stories that educate, and instil

lessons she’s learnt in her 20 years of

belief in our employees about our

experience in the fast-moving consumer

strategy,” says Zandile Mposelwa,

goods industry.

Corporate Affairs Director for Kellogg SA. Zandile is speaking as someone with a deep understanding of what it takes to be the best, having worked at an impressive list of industry leaders, including Nampak (Marketing Project

“I don’t believe one can please all stakeholders.”

How do you go about pleasing all stakeholders?

I don’t believe one can please all stakeholders, I however believe that developing a stakeholder mapping

Manager), BP South Africa (Fuels

and engagement plan is important.

Product Manager), Woolworths

There needs to be a clear objective

Financial Services (Inbound Contact

which could be to inform, influence, or Better Days programme, this has seen

get approval. The plan needs to outline

them partnering with the Department

why each stakeholder is important;

“It is not about ‘what can I do alone’ but

of Basic Education, Shoprite and the

the value they add to the business; the

‘what we can do together’.”

Kolisi Foundation.

engagement message; when and the

Strengthening the reputation of an

“I don’t believe one can please all

organisation is at the heart of what

stakeholders, I however believe that

What is the best way to engage

Zandile does at Kellogg South Africa,

developing a stakeholder mapping and

with employees?

which includes spearheading the

engagement plan is important,”

As a leader, I find employee

company’s CSI programme, Better

says Mposelwa.

engagements are critical to ensure that

Centre Manager).

frequency of engagements.

Days. This involves working with both

together we understand and deliver

the public and private sectors, as well

We find out about engaging with

the organisational strategy. I find them

as NGOs. For Kellogg South Africa’s

employees, pleasing stakeholders and

energising. I am particularly grateful

90 | TOP500 | 12th Edition

Zandile Mposelwa | Editorial

“I believe in continuous learning and there is arguably no better teacher than experiences.”

to be able to do some of this face-toface now that our organisation has transitioned from working from home to a hybrid work model.

One of the ways that stand out for me is when our employees participate in some of our CSI initiatives to alleviate hunger

Please tell us a bit about your

Equity, diversity, and inclusion are

background - how did you get to

important to me.

this point?

I have over 20 years of working

I am a mother of an 18-year-old son and

experience at different levels in the

a 16-month-old daughter who both

FMCG industry. Some of the companies

inspire me. They are my happy place.

I’ve worked for before joining Kellogg include HomeChoice, Woolworths,

What is the purpose that drives

BPSA, Nampak, and Tetra Pak. I have

you?

held multiple roles since joining Kellogg

My success in the corporate

in 2014.

environment is underpinned, and guided, by my purpose and passion, as

In this role, I lead Corporate Affairs

well as the value system which must

at Kellogg South Africa supporting

be aligned with all that I do. I’ve been

our Kellogg and Kellogg Tolaram JV

fortunate to have purpose-led mentors

in South Africa and the Kingdom

who continue to shape my leadership

of Eswatini.

journey in both my personal and professional life. My purpose is to inspire

I tell stories that educate, and instil belief

change. My purpose comes to life,

in our employees about our strategy. I

whether that be through the way I lead

promote our organisation externally to our

the company’s effort to alleviate hunger

various stakeholders to strengthen the

in communities, gender empowerment

organisational reputation. I also lead the

advocacy or by mentoring young people

company’s CSI programme Better Days.

to realise their potential. n

in communities.

We do this by giving them food hampers that they donate to families in their communities. I love this because it strengthens our employees’ connection to our purpose to create better days and a place at the table for everyone.

What lessons did you learn from your previous roles that you are applying in your current role?

I believe in continuous learning and there is arguably no better teacher than experiences. I continue to leverage my previous experiences in my journey to be a continuously evolving leader who makes an impact on people and the company. Working in other roles, especially at Kellogg, has given me valuable insights into the organisation (institutional memory) and this allows me to better support the organisation from a different angle.

12th Edition | TOP500 | 91

Editorial | Zuko Mdwaba

Salesforce’s Zuko Mdwaba on what it takes to make a multinational successful in South Africa

BY Koketso Mamabolo

W

hen it comes to developing

Here we find out from him what the

technology companies in

keys have been to his success, what

South Africa, no-one has as

much experience as recently appointed Salesforce’s Area Vice President in South Africa, Zuko Mdwaba. He’s led an impressive list of tech industry giants such as Oracle, Atos, SAS and Workday South Africa, in a 25 year career that has seen him gather the kind of experience that makes him perfect for bringing a multinational to the South African market.

“For me, it all starts with the intention.

It is also intrinsically linked to “why” I do what I do.”

he’s learnt in his extensive experience in management, what it takes to make a multinational company a success in South Africa and more.

You’ve held multiple positions in major firms, what have been the keys to your consistent success?

For me, it all starts with the intention. It is also intrinsically linked to “why” I do what I do. I alluded to the importance of “why” earlier.

“I was very fortunate to work with leading multinational companies and most importantly met incredible leaders who helped shape my career and most importantly believed in my potential,” said Oracle’s former Country Leader and

and statistics. A certified database administrator for database technologies, Zuko transitioned to an enterprise architect and management consultant before moving into business

Business Director.

development.

Zuko’s career began as a developer

“On a more personal note, I am a

and business analyst, after receiving qualifications in computer science

92 | TOP500 | 12th Edition

husband to an awesome wife and we have two kids that keep us inspired.”

A big part of this is in the word ‘consistency’. Consistency is more important than perfection. One of the disciplines I have is reading books.

This helps me learn from others and invariably sharpen my spear all the time.

It actually reminds me of the quote by the legendary John Maxwell, “Small disciplines repeated with consistency every day lead to great achievements

Zuko Mdwaba | Editorial

gained slowly over time”. The cycling

and just as important in the learning

and how I would overcome the obstacles

and running I do is very intentional.

process, is learning to unlearn and let go

or challenges. I discovered through this

The correlation between having the

of things that no longer contribute to my

process that it wasn’t the table-stakes

discipline to keep healthy and fit and

growth. The concept of unlearning and

skill sets required of most executives

finding success in my career is amazing.

relearning has never been more relevant

today that drove my success, but

My parents always drummed the

to me. As the futurist Alan Toffler wrote:

inquisitiveness, dedication and a passion

philosophy of “a healthy mind lives in a

‘The illiterate of the 21st century will not

for learning that ultimately got me here.

healthy body” in our heads. It improves

be those who cannot read or write,

blood flow to the most underrated organ

but those who cannot learn, unlearn

What have been the biggest

in the human body, the brain.

and relearn.”

challenges you’ve faced in

The second part is about a learner’s

What would you say are the

overcome them?

mindset. This simply means I believe

keys to making an international

One of the challenges I faced in

my intelligence and talents can be

brand succeed in South Africa?

my career was the transition from

developed over time. This speaks to

I would say it is the humility of

individual contributor to a manager

endless possibilities and never saying

understanding a local market.

and eventually to an executive. The shift

your career and how did you

never, following my passion, owning

can be particularly difficult because

up and being accountable, practising

At Salesforce our values: trust,

self-reliant behaviour is often richly

gratitude, etc. Our bodies hear

customer success, innovation, equality

rewarded early on in one’s career, while

everything our minds say. Having a

& sustainability guide us to do what’s

leaning on others is not. However, I have

strong internal sense of motivation and

right on a daily basis. It all comes back

found as one becomes more senior,

purpose and the ability of flexibly set and

to our distinctive culture. Our culture

those who are most successful find

reset goals have been essential parts of

is built around the idea that we are

a way to think outside of themselves

my resilience.

all bound together. At Salesforce, our

and gain leverage by acting not only

family includes customers, employees,

on their own but also via teams. A nice

partners and communities. We take care

benefit to this approach is that it’s much

of each other, have fun together and

more rewarding to work with others

work collaboratively to make the world a

rather than feeling that you have to do

better place. This resonates well with my

everything yourself.

“I firmly believe that there’s no growth in the comfort zone.”

own personal values as it speaks to the core of ubuntu - a quality that includes

How would you describe your

the essential human virtues, compassion

leadership style?

and humanity. At Salesforce, we also

My leadership style has always

know that to be better, we have to do

started with creating a VISION for the

better. So we rely on a 1-1-1 integrated

organisation, to guide the team. I do not

philanthropy model, where we give 1% of

do this alone, I include the team. I then

our technology, 1% of our time and 1% of

build ALIGNMENT through buy-in from

our resources back to our communities.

the organisation and the team. This

This is one of the things that sets us

occurs through providing consistent,

apart and drives our customers’ success.

clear messaging, sharing the “why”

Now more than ever, I am also cognisant

behind the vision, engaging in dialogue

of the fact that what got me where I am

What did you learn in your

and providing inspiration along the way.

today will not get me to where I want to

previous positions that will

“People don’t buy what you do, they

be. Because of this, I firmly believe that

benefit you in your new one?

buy why you do it. And what you do

there’s no growth in the comfort zone.

Over the years, to make sure I am

simply proves what you believe” Simon

It is very important to be comfortable

heading in the right direction, I have

Sinek. Finally, I CHAMPION EXECUTION

with being uncomfortable. Today’s

taken stock of my personal and

and make sure the vision is being

accelerated world is also pushing me

professional achievements every six

executed and becomes reality. This

to continuously immerse myself in

months. This allows me to focus on my

includes analysing what’s working well

learning new things (rewiring my brain)

plan for the next six to twelve months

and what’s not, addressing problems

12th Edition | TOP500 | 93

editorial | Zuko Mdwaba

through ongoing feedback, offering

companies over the technology tipping

praise and celebrating success as

point and the trend of transforming

a team.

business forever continues and South Africa is no exception.

At Salesforce, we use the V2MOM. Salesforce’s V2MOM alignment process

During the pandemic, consumers have

is critical to our success. Marc Benioff,

moved dramatically toward online

the Chairman & CEO of Salesforce has

channels. Salesforce plays a critical

led through the V2MOM for many years

role in helping build bridges between

and he has always thought our biggest

companies and customers. Over the

strength is how we’ve maintained

years, Salesforce has built a solid

alignment while growing quickly.

foundation in South Africa with a sizable

The V2MOM enables us to clarify what

number of customers and partners.

we are doing and then communicate

Today, we are thrilled to have a physical

it clearly to the entire company. It boils

presence in South Africa and a team

down to these five questions, which

of more than 70 people dedicated to

create a framework for alignment

the country. To that effect, we have

and leadership:

received a very warm welcome from

1.

Vision - what do you want

our customers and partners. A big part

to achieve?

of this has been customers wanting to

have two kids that keep us inspired. I

2.

Values - what’s important to you?

leverage on trusted partnerships with

am a sibling to two sisters and three

3.

Methods - how do you get it?

Salesforce to transform their businesses,

brothers, with a further gift of nieces

4.

Obstacles - what is preventing you

also through learnings of other

and nephews and of course friends. I am

from being successful?

customers for more than two decades

also blessed to still have my mother, who

Measures - how do you know you

around the world.

jointly with my father were instrumental

5.

have it?

to where I am today.

Please tell us a bit about your

The five parts of the V2MOM give us a

background - how did you get to

Fitness has always been a part of my life.

detailed map of where we are going and

this point?

I have prioritised health and wellness in

an understanding of how to get there.

I have been in the technology industry

order to stay competitive in everything I

for 25 years with almost half of that

do. I passionately believe being healthy

Why do you think South Africa

in management & leadership roles.

and physically fit has a direct correlation

is coming into its own in the

I qualified in Computer Science &

to happiness and success, whatever the

technology sector? What’s

Statistics and as a result when I started

personal definition of that may be.

driving the interest from major

my career I was a developer and a

I believe a good leader must maintain

companies such as Salesforce?

business analyst. I am also a certified

mental and physical wellness in order

South Africa has generally always lagged

database administrator for a few of the

to effectively drive the business forward

behind in adopting new technologies,

database technologies. I transitioned

and inspire the team. I am a cyclist (70%

especially cloud technologies. The

into an enterprise architect and then

road & 30% MTB/off road) and have

pandemic over the past two and a

a management consultant. My next

conquered many challenges on the bike.

half years has been a catalyst and a

step was business development that

I am also an ultramarathon runner. Both

great equaliser in terms of technology

morphed into sales. I was very fortunate

cycling and running have taught me

adoption and South Africa as a country

to work with leading multinational

how to persevere and thrive on adversity.

is starting to benefit exponentially out of

companies and most importantly met

What I have found interesting over the

that. According to McKinsey, companies

incredible leaders who helped shape my

years is how cycling and running have

digitised many activities 20 to 25 times

career and most importantly believed in

become bigger than what golf was

faster during COVID-19. When it came

my potential.

when I started my career. It used to be business networking on the golf course,

to remote working, companies moved 43 times more quickly than executives

On a more personal note, I am a

nowadays it’s business networking on

thought possible. COVID-19 has pushed

husband to an awesome wife and we

the bike or on the road running. n

94 | TOP500 | 12th Edition

Lelemba Phiri | editorial

Who walks away from a $30-million startup?

Meet angel investor Lelemba Phiri Having scaled Zoona across the African continent, Lelemba Phiri now manages a R100-million gender-lens investing fund. She’s found the special balance many entrepreneurs and investors are looking for: generating profit while still creating an impact. It was at Zoona that she realised she can make an impact elsewhere and as such Lelemba has dedicated her work to empowering women entrepreneurs.

In this Business Unusual Podcast we engage in conversation with Lelemba Phiri about how to attract investors, why she left a successful venture and how it’s possible to make an impact while making a profit. Lelemba shares her journey and explains why gender-lens investing is important.

Key takeaways from this podcast: •

Sub-Saharan Africa has more women getting into entrepreneurship than men

• •

Investing with your own money only can only go so far Investors don’t want complicated language. Be clear, concise and specific when pitching to them

•

“Entrepreneurship can be very lonely”

•

You need to identify “needle-movers”

•

Pitching isn’t reserved for investors only, you also want to be able to attract strategic partners

• •

If your pitch is interesting enough, they will ask for more details “Look for the visionary that’s in the space of what you are passionate about”

•

We need spaces where academics and business leaders can work together

Lelemba Phiri is the Principal of the Africa Trust Group and Fund Manager for Engyma Ventures. She is a Director at Zoona and Startup Circles and is currently completing a PhD in gender-lens investing at GIBS. Lelemba has almost two decades of experience working with both the public and private sectors across sub-Saharan Africa. The award-winning angel investor is a certified chartered accountant in the UK and has appeared in various publications, including the Oprah magazine, and was a SABC 3 presenter on “The Power Within”, where she was the financial expert. n

12th Edition | TOP500 | 95

Editorial | Sandras Phiri

How entrepreneurs can build commerciallyviable businesses Meet Sandras Phiri

BY Koketso Mamabolo

L

osing both his parents as a teenager meant that Sandras Phiri had to rely on his entrepreneurial

spirit to get through university. “I was always an entrepreneur. When I was a kid I used to sell sweets at school and helped my mum by selling goods at the market. I used to sell bread and milk every morning in the neighbourhood,” says the founder and CEO of Pranary Business School.

When Sandras graduated, he continued

other entrepreneurs. His expertise has

“The key is to decide on what you want to build – a small business or scalable business. “

on an entrepreneurial path. “I founded a web development and networking company and later I ran a t-shirt business, as well as an entertainment business.” Now Sandras is in the business of education.

“I’ve now had the opportunity of working with entrepreneurs from over 50

96 | TOP500 | 12th Edition

seen him share stages with the likes of Facebook and Asana co-founder Dustin Maskovitch, as well as YouTube co-founder Steve Chen and famed economist Clay Christensen, to name a few.

Sandras is a Director at Africa Trust Group and a fund manager for the R100-million Engyma Ventures Fund. Here he shares with us how he plans on impacting one million entrepreneurs, how entrepreneurs can

countries and I’ve interviewed over 100 founders and investors, and travelled to 25 countries.”

Sandras has valuable knowledge on startups and revenue generation, and is happy to share his knowledge with

build commercially-viable businesses, the mistakes entrepreneurs are making when speaking to investors and what he teaches his students.

What are the keys to building a commercially-viable business?

The key is to decide on what you want

Sandras Phiri | Editorial

“The number one reason why startups fail is no market need – building things that nobody wants to pay for.” to build – a small business or scalable business. Then set your high level goals.

With the goals, put together a team and start executing. You must always talk to customers and get feedback from mentors. It’s also important to surround yourself with people who are on a similar mission – other entrepreneurs.

Please share with our audience some tips/advice for people looking to become entrepreneurs.

People who want to become entrepreneurs should just start even in a small way. A lot of people make the mistake of over-analysing and staying too much in their heads. It’s important to “get outside the building” and talk to customers. Share your ideas with people and get their feedback early. The number one reason why startups fail is “no market need” – building things that nobody wants to pay for.

somebody to write the business plan

generally deep tech. While some of

and nobody reads it afterwards. Business

the technologies might be hard to

plans do not really work for early stage

finance initially, nowadays there are a

startups as they are generally a work

lot of investors and accelerators that are

of fiction. Everybody makes money in

looking for these types of startups.

Excel. All projects are profitable. But reality is different. Early stage startups

What does the future look like

must create a pitch deck instead which

for entrepreneurs? - How can

shows your market size, your traction,

they adapt to what’s coming?

revenue model amongst other things.

The future is bright for entrepreneurship.

The pitch deck is short and straight

It’s much easier now than ever before to

to the point and investors read them.

build a world-class business.

When you’re meeting people for the first time they do not have time for you

There is easier access to resources,

so you need to learn to pitch clearly and

support and capital. As entrepreneurs

get straight to the point in a short space

we must embrace new technologies as

of time. When you pitch successfully

they are shaping the future. We must

investors then give you more time.

tap into communities that are shaping the future.

What are the mistakes entrepreneurs are making when pitching to investors?

The mistakes entrepreneurs make when pitching to investors include sending a business plan, sending an executive summary etc. The other mistake is just pitching to everybody without knowing what they look for. Another mistake entrepreneurs make when pitching to investors is talking too much. They say a lot of things hoping that the investor will pick something from the many things mentioned. In pitching, less is more.

Your pitch needs to be focused. I’ve seen

How do you plan on impacting

entrepreneurs say “I have two pitches for

1 million African entrepreneurs?

you” which is a mistake. Lack of focus is

We believe that entrepreneurship has

a mistake. That said, we do have a free

the power to change people’s lives. A

checklist that helps entrepreneurs learn

large majority of people who can say

how to pitch investors.

they have a job are working because of an entrepreneur. As Pranary we want

What sectors should current

to impact 1 million entrepreneurs in

and potential entrepreneurs be

Africa. We plan to do this through

Why do you teach business

looking to get into?

partnerships and democratising access

owners to pitch under

Most sectors present potential. However,

to world-class mentors and capital.

three minutes, without a

entrepreneurs should lean more towards

We’re leading a movement of game

business plan?

the different technologies or applying

changers in Africa. We are building a

Traditionally early stage entrepreneurs

technology to their existing business

community of game changers in Africa

have been told to write business plans

models. There are opportunities in

and are always looking to partner with

and send those to investors. So what

artificial intelligence, blockchain,

other forward thinking individuals,

happens is that the entrepreneur hires

robotics, biotech, agriculture and

organisations and communities. n

12th Edition | TOP500 | 97

Editorial | Rob Godlonton

Making clients happy starts with making employees happy Meet Rob Godlonton

BY Koketso Mamabolo

“To deliver the best client experience,

technology giant PeopleSoft as an

you need to deliver a great employee

implementation manager in the UK and

experience,” says +OneX Founder and

where I discovered my passion for the

CEO, Rob Godlonton. He knows that to

technology industry.”

make a business successful the bottom line can’t be the main driver. In order

He then founded Global Technologies,

to achieve success you need to have an

an application and data company

idea of why you’re doing what you’re

which was bought by Infogain. This

doing. Your entrepreneurial journey can’t

was followed by a stint as the CEO of

be rudderless.

PeopleSoft’s largest partner in Europe, Cedar Consultancy, which was also sold.

Rob was born into a family which managed a farming business that

“With the acquisition taking place

performed well. “Being an entrepreneur

I returned to South Africa to head

was in my blood.”

up global sales and operations at

“When it comes to people, they make or break your business.”

Dimension Data. The next move in my He didn’t take a linear path to being a

career was to EOH for over 10 years,

After a sabbatical, Rob found that he

tech entrepreneur. After completing

where I headed the Infrastructure and

was eager to add something to the tech

a Bcom Honours in Management

the Applications businesses, which

industry: “Along with my co-founders,

Accounting in Stellenbosch, he went

finally became known as iOCO. We grew

we conceptualised the idea of a new-age

over to the UK to work as an accountant.

the business from 200 to over 4 800

systems and solutions integrator that

“This was my route to joining the

people and profits of over R550-million.”

helps enterprises excel in a dual-speed

98 | TOP500 | 12th Edition

Rob Godlonton | Editorial

technology world. We received backing for the business from Reunert and +OneX was started.”

Here Rob shares the knowledge he’s picked up over the years, including what it takes to get your business performing well, his advice to entrepreneurs starting a business in a competitive market and more.

How do you ensure clients stay happy?

Client obsession with long lasting relationships is one of the core values at +OneX, and a principle I have believed to be key throughout my career.

To deliver the best client experience, you need to deliver a great employee experience. We seek out people who are client-centric and understand what our clients need, and we empower them to solve their problems. Strong relationships and alignment with client objectives help to ensure that we can assist clients in achieving their objectives. In short, happy employees mean happy clients.

What would you say are the keys to a successful business?

Purpose and people. You need to have a purpose and know why you are doing what you are doing and how you will be making a difference. When it comes to people, they make or break your business. Spend time and effort on finding the right people rather than having the wrong people in your teams.

Having the right people and retaining them helps you to attract more good

in scale. Because the UK’s IT market is

That said, South African enterprises and

people to scale your organisation.

larger and even more globally connected

IT professionals are often a few months

than South Africa’s, IT professionals

ahead of the curve in experimenting

tend to develop deep specialisations

with new technologies. We have a little

in roles and technologies. By contrast,

less red tape and tend to embrace

What differences have you found between the IT sector in the UK and in South Africa?

South Africa’s IT professionals tend to

anything new that will give the business

The UK is the sixth biggest economy in

have broader exposure to different roles

a bit of an edge. Of course, South Africa

the world by GDP and South Africa is

and technologies, becoming excellent

is not as quick to take up new tech as

the 31st, so there is an obvious difference

multidisciplinary generalists.

the US and some Asian markets. In

12th Edition | TOP500 | 99

editorial | Rob Godlonton

terms of quality, our skills are as good as

most successful entrepreneurs have a

the end of ensuring +OneX is the most

those in the UK, even if our orientation is

purpose, which they live and breathe

innovative, collaborative and exciting

a little different.

with passion every day. Making a positive

place to work in the local IT industry.

contribution to the world gives you a What have been the biggest

reason to be excited about what you do,

What advice do you have for

challenges you have faced in

even when you are squaring up to face

entrepreneurs starting a

your career and how did you

big challenges.

business in a competitive space?

overcome them?

Since the entrepreneurial journey is

Working capital and cash management

not for the faint-hearted, I will reiterate

are among the biggest challenges most

the importance of knowing exactly

entrepreneurs face. We developed a

why you want to start a business and

sound but ambitious business plan and built a strong core management team.

This enabled us to attract Reunert, a company listed on the JSE, as our flagship investment partner.

Once you get going, finding the right people and clients to scale can be a challenge. One way we have addressed this, was through strategic acquisitions, bringing on board entrepreneurs with

“Make sure you start with a team that shares your purpose, vision and passion.”

strong businesses who share our vision

what the purpose is for the business.

Simply creating a business with the aim of making money is not enough — you need to have a vision about the problem you want to solve for people or the market and the legacy you want to create. Patience and perseverance are essential. It takes time to build a business and there are many roadblocks and setbacks along the way. Make sure you start with a team that shares your purpose, vision and passion.

and drive to make a difference.

What are the trends you have noticed in the local ICT sector?

For the business owners who join us, the attraction is that they can focus on

What does a people-centric

In two words, digital acceleration. Most

growing their business, while leveraging

culture look like and how does

companies are still trying to work out

off our shared services and working

one begin to create it?

which business model is best for the

capital. Given that I’ve been part of

A people-centric culture is one where

future workforce — remote work, work

groups that have grown via acquisition,

employees are the heartbeat of the

from the office or a hybrid of the two.

I have developed an appreciation of

business. Employees are empowered to

how important it is to enhance the

reach their true potential, their mental

In addition, we are seeing South

entrepreneurial spirit with the ability

and physical wellbeing is treated as a

African organisations’ multi-cloud

to standardise processes, unify brands

priority, they are well rewarded for their

maturity growing in leaps and bounds.

and simplify legal entities. Ultimately

work, and they are supported in their

Rather than regarding the cloud as a

creating an integrated business that

career development. Our mentorship

technology model, they increasingly

remains agile, yet works as one, with

programme plays a critical role in our

see it as a business model that enables

people at the core of the business.

people centric culture. This sort of

them to deliver services to internal and

environment happens by design, not by

external end-users with more speed

accident.

and flexibility.

a purpose?

We believe in fostering a culture of

Finally, IT purchasers are looking for

Work is not the only way we find

leading without titles, trust, continuous

a more streamlined, flexible, and

meaning in life, but most of us spend

learning as well as crafting employee

customised experience than they get

40 hours or more doing our jobs each

experiences that attract the best talent

from most of the IT behemoths. They

week. These hours are so much richer

to work at our company. Our Chief

want IT solutions providers that take a

and more enjoyable if we find a purpose

People Officer, Kea Hammond, has the

flexible approach to partnering, using

in them beyond getting through

responsibility for developing our people

the right technology to help clients drive

the day to bring home a salary. The

and investing in their growth, all towards

innovation, efficiency, and growth. n

Why do you feel it is key for entrepreneurs to have

100 | TOP500 | 12th Edition

SUN goddess A L L U R I N G F R A G R A N C E B Y WAT K I N S Unfolding in a blend of delicious creamy Coconut, fresh brusts of Citrus and sultry splashes of Vanilla.

w w w.watk insonline.co.za

32 | Public Sector Leaders | December • January 2022

editorial | How to build a subscription-based business

How to build a subscriptionbased business

by Fiona Wakelin

A

re you tired of not being able to accurately predict your monthly turnover? Is there a worrying shortfall between accounts receivable and overheads? A

subscription-based income generating model takes the guesswork out of your turnover and profit forecasting and makes for a stable, predictable P&L sheet.

According to a McKinsey research study, 15% of Americans have signed up for one or more subscriptions to receive products on a recurring basis. The subscription ecommerce market is projected to reach $473-billion by 2025, up from $15-billion in 2019—which makes it a massively interesting opportunity for existing and aspiring business owners, too.

What is a subscription-based business model?

“Subscription business models focus on the way revenue is made so that a single customer pays multiple payments for prolonged access to a good or service instead of a large upfront one-time price. Now, the economy is trending toward more subscriptions instead of ownership for cars, software, entertainment, and shopping.

This increases the lifetime value (LTV) of the customer.” - Investopedia An example With advances in technology and software, the subscription-based model is becoming

102 | TOP500 | 12th Edition

name and surname CEO | COMPANY

How to build a subscription-based business | editorial

more and more available and attractive

options/portals as well as security

to businesses across a range of

measures for online purchasing.

sectors. But the one closest to home for Topco Media is the example of

Getting boxed in

magazine and newsletter subscriptions

For those entrepreneurs whose

whereby publishers offer a monthly or

products are suitable for a subscription

weekly model that results in multiple

box business there are 3 models

purchases instead of a once-off.

to choose from: curation, access and replenishment. Curation will

“People don’t buy what you do; they buy why you do it”

require regularly surprising and gratifying clientele through the choice of personalised contents in the boxes; access gives members-only benefits to subscription clients; while replenishment provides automated re-ordering of essential products at a discount. Whichever model best suits

First steps

your product/s it will be key to factor

You might think you have had a light

in transport and delivery costs when

bulb moment for subscription-based

planning TNBT (the next best thing).

business – but does anyone else think so? Is your USP really unique? Who are

What to watch out for

your competitors and what are you

1. Safety first

offering that they are not? And, most

This cuts both ways – you need

importantly, why are you offering it?

to ensure business security, fraud

Simon Sinek puts it so well when he

prevention and a constant, guaranteed

says “People don’t buy what you do;

revenue stream - and your customers

they buy why you do it”.

need to be sure you are adhering to the POPI Act with a robust, hacker

Once you have your “why” and your

proof setup.

“what” sorted – then it is important to identify “who” (who is divided into

2. Keep innovating

2 groups - who are you targeting and

Stay ahead of your competitors by

who is going to do the work) “how” and

adding new, exciting packages, offers,

by “when”.

competitions and freebies to your clients on a regular basis. Use the latest

base. Review your product offerings and regularly check in with who is buying what; see if there are opportunities to appeal to other LSM groups.

According to McKinsey, women make up the great number of subscription buyers, but men are more likely to have more than one.

5. Read and respond to reviews With the exponential increase in the number of online offerings, clients use reviews to help them make choices.

Keeping those gold stars above 4 is

Your offerings will be critical, their

technology for websites and apps to

frequency, and your various payment

ensure easy sign up for clients and

options/portals as well as security

a great, uncomplicated, welcoming,

measures for online purchasing.

onboarding experience.

Once you have your “why” and your

3. Stay in touch with your “why”

“what” sorted – then it is important

Don’t let all the other “wh’s” – who,

6. Keep the human touch.

to identify “who” (who is divided into

when, what, overtake the driving force

Chat bots are no substitute for the

2 groups - who are you targeting and

of your “why” – keep going back to it in

human element. Your customers will

who is going to do the work) “how” and

your strat plans and weekly meetings.

know if you genuinely care, and in

crucial to growing your client base – and it is especially important to respond personally to each one so that even a poor review is diffused.

return you will get their loyalty. n

by “when”.

4. Grow your client base Your offerings will be critical, their

Use your marketers to celebrate what

Sources

frequency, and your various payment

you do and why to grow your client

Mckinsey | Shopify | Investopedia

12th Edition | TOP500 | 103

editorial |

WHEN TAX SEASON LOOMS | editorial

When tax season looms: Here are 6 possible deductions you can claim

by Jessie Taylor

M

ore than R1.4-billion is

maximum of the amount contributed

If you travel for work (beyond your

collected by the South African

and the deduction is capped at

commute to and from the office) and

Revenue Service (SARS)

R 350 000 per year.

are not reimbursed by your company,

every year, and of that almost 40% is

you can claim these travel expenses

paid by individuals under their personal

If you’re putting away retirement

from SARS. You will need to prove

income tax.

savings, the amount is deducted from

that the mileage was directly related

your salary before tax, lowering the

to earning your income, such as

amount of remuneration taxed by SARS.

travelling to client meetings. You’ll

But there are several deductions that individual taxpayers can apply for, which

need to have an accurate and detailed

could reduce the amount of tax they

Your savings is most likely done through

logbook of your travel, as well as any

owe or help them recoup some of the

your employer and should be reflected

maintenance expenses.

expenses incurred during the tax year.

on your IRP5 form. However, if you have

The tax season has officially opened, and

additional contributions or pay into a

while the details around tax payments

retirement annuity, ensure that you are

can be daunting for many, failing to

lodging the paperwork (including your

claim deductions that apply to you could

proof of contributions and contributions

see you losing money.

certificate) with SARS.

Here are some of the tax deductions you can claim when completing your return this year:

Donations If you donate to a charity, you can claim back the amounts donated to any registered Public Benefit Organisation Travel expenses

(PBO). You can claim up to 10% of your

If your employer supplies you with a car

taxable income. If you’ve contributed

for work travel, you can claim back for

to a charity, request that they issue you

the kilometres you travelled for business

with a PBO certificate which you can

purposes during the year. However, to

submit to SARS.

claim these expenses you need to keep Retirement savings

an accurate and detailed logbook of

If you donate above 10% of your taxable

If you pay into a pension, provident or

all business-related travel and

income, you can carry forward the

retirement annuity fund, you are eligible

maintenance expenses. You can claim

amount to the next tax year and have

for a tax deduction of up to 27.5% of

for expenses such as petrol, oil, service

it deducted then (as long as it remains

your annual income. This is limited to a

costs and insurance.

under the limit).

12th Edition | TOP500 | 105

editorial | WHEN TAX SEASON LOOMS

Home office expenses

and rental agency fees. Ensure you keep

If you work mainly from home in a

records of the expenses related to the

dedicated space, like a study or office,

rental property to claim.

you may be able to claim some costs

What can you claim if you run a side business?

More South Africans are

associated with that space. These

supplementing their primary

include rent, rates, interest on mortgage

income earnings from a part-time

bonds, electricity and maintenance.

business or freelance job. If you

The amount claimed for rent and

are operating as an individual

electricity, for example, will need to be

rather than a company, you are

proportional to the office and cannot be

a sole proprietor and become

for the entire property.

a provisional taxpayer. As a provisional taxpayer, you will need to pay taxes in August and February.

Your income needs to be declared Medical expenses If you belong to a medical aid, you are entitled to some tax deductions from SARS. Medical aid contributions are deducted in the form of tax credits.

Your employer will usually handle this by adjusting your tax contribution. If you have medical aid outside of your employer, you will be able to claim credits for your contributions by

to SARS, but there are a number of deductions you can claim.

As a business owner, you can use your net losses to offset any tax you pay on your primary income during the first two years. You can also claim any expenses used in running your business, such as Wi-Fi, home office expenses, inventory or accounting fees.

Provisional taxpayers are often

Rental property costs

submitting documentation from your

If you own a property and rent it out to

medical aid.

flagged for verification, so it’s

you can deduct some costs associated

You will also be able to claim out-of-

all expenses.

with that property. These include

pocket expenses. These are fees you’ve

maintenance costs, interest on bond

covered that have not been reimbursed

payments, rates and taxes paid on the

by the medical aid, either because they

Sources:

property, water and electricity, levies,

are not covered in your plan or you have

PWC | IOL | news24 | SARS

depreciation on furniture in the property

run out of member funds. n

Taxtim | Timeslive

someone else as an additional income,

106 | TOP500 | 12th Edition

important to show the receipts of

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editorial | How to set better goals

BY Charndré Emma Kippie

D

o you know what your true purpose in life is? When was the last time you truly set time aside to find a clear picture of where you’re headed? It may seem ‘cliché’, but taking some time to sit down and make a list of your goals and aspirations can be instrumental in your future success.

According to a study conducted by the Harvard MBA Business School, on the value of goal setting, upon graduating it was determined that: •

84% of the entire class had set no goals at all

•

13% of the class had set written goals but had no concrete plans

•

3% of the class had both written goals and concrete plans

108 | TOP500 | 12th Edition

Interestingly, as well, the 3% of the class

aspirations in a diary somewhere.

that had both written goals and a game

Coming up with ‘smart’ goals that are

plan for their future, were earning ten

actionable is what matters. There is no

times more than the rest of the 97% of

point in setting a bar that is unattainable

the class who took part in the study.

or something you’re going to lose

What this shows is that planning ahead

interest in along the way.

for your future, whether it be for your education, career, or holistic life plan,

This is where introspection will come into

will go a long way in guaranteeing the

play. How well do you know yourself? Are

success of your endeavours.

you aware of what your strengths and weaknesses are? What are your personal

What is important to note, however,

preferences? These are important

is that this is about more than simply

questions you need to ask yourself before

jotting down all your dreams and

planning ahead for your future.

How to set better goals | editorial

In taking the next steps towards drawing

a poster, checklist, or even a reminder

out your plan, it may be helpful to

notification set up on your mobile

acknowledge the foundations of SMART

device, will go a long way in keeping you

Goals. This clever acronym is actually

on your toes. Another way to stick to it,

a nifty checklist of sorts for mapping

is to have a designated ‘accountability

out your set of goals. SMART Goals

partner’ whose primary role is to give

are: Specific, Measurable, Actionable,

you a nudge every now and then,

Realistic and Timely. Once you get the

keeping you focused on accomplishing

just of this, you’ll be well on your way to

your goals.

making your highest potential a reality.

Get Your Game Plan Ready If you’re worried about sticking to the

You cannot achieve a goal without

plan and making sure you reach small

having key milestones and a deadline.

milestones along the way to your ‘big

Setting up a foolproof plan, prioritising

win’, then here are a few tips and tricks

each step you’ll have to take towards

that may help you stay on your path

your end goal, will shape your plan of

to success:

action. Decide what type of budget you’ll need, where you’ll get your resources

Maximise The Likelihood of

from, how you’ll manage risk and how

Success – Set Better Goals

much time you’ll need to fulfill each

As you begin to set goals for yourself,

task. By doing this, you’ll have a clear

be mindful of what truly motivates you.

understanding of the work that will

Ensure that these goals are aligned with

need to be done, and you’ll better your

your key beliefs and values. Make sure

chances of staying on track.

that these goals are important to you,

dedicate your life and time to need to

goal. Rewarding yourself for your achievements could boost morale and inspire you to keep working diligently.

However, try not to undermine your efforts by choosing a reward that could potentially set you back. For example, after working hard for a few months and making gains, taking a holiday could be just what you need to reset and refresh.

having a plan will strengthen your

Ask yourself:

chances of achieving your goal, things change with time and updates may need to be made. Evaluating your game plan and end goal periodically is an

the outcome?

•

successes on the way to our ultimate

Goal setting is a process, and although

goals will fall into ‘the bigger picture’.

What is my level of interest in

don’t take time to celebrate small

Evaluate Your Goals

be worthwhile. Take note of where your

•

like we’re getting nowhere when we

off, getting lazy, and losing momentum.

pursuing them. The goals you choose to

Are they relevant?

Often we get demotivated and feel

But be careful of taking too much time

and that there is significant value in

•

Give Yourself Incentives

important part of this process. Never

Am I excited about putting in the

settle for the bare minimum and

work required to achieve this goal?

Remember To practice Patience

check to see if your goals are still relevant to you and your lifestyle.

Make Your Process Tangible

As the saying goes: “Nothing worth

A great way to hold yourself accountable

having comes easy”. Working towards

in pursuing your goals, would be to put

a goal takes time and diligence. Give

them in writing and place them where

yourself the space you’ll need to take

they’ll always be visible. This way you’re

things one step at a time. You don’t want

reminded of where you’re headed and

to get too ahead of yourself and end up

what is required of you to get to the

making avoidable mistakes that could

end point. Too often people get caught

be detrimental to your end goal. Set

Taking time to extract these lessons will

up in the moment of making big plans,

out a clear plan for each week and leave

increase your productivity, as you’ll be

much like when everybody makes New

some breathing room for ad hoc tasks

able to make adjustments, and, you’ll

Year’s resolutions, only to slack when it

and spontaneous last minute moves –

be able to apply these outcomes to your

comes to actioning those plans. Having

enjoy the journey while you’re on it.

future goal setting experience. n

Checking in with yourself and taking stock of all the progress you’ve made is a healthy step in going for acheiving your goals. Think about what you’ve done so far, how you accomplished it, and what you’ve learned from the experience.

12th Edition | TOP500 | 109

editorial | 6 ways to ensure that you employ the right people

By Catherine Black, cofounder of Black Mountain

A

s we head into a hybrid working environment you may have decided that your business

needs to ramp up staff or skills in the coming months. But finding the right people to grow your business effectively can be challenging – and the costs can be big if you get it wrong. In a post-Covid world, organisations need to be more agile and dynamic than ever, which means that employing people with simply the “right” CV and experience are not the only ingredients needed for recruitment efforts to succeed. With this in mind, what are the most important things to know to ensure you recruit the right type of people into your organisation?

1. Get clarity on who you’re looking for As with any project you take on,

2. Create a smaller funnel

the recruitment process. By narrowing

knowing your ultimate outcome in

Peter Cappelli, Professor of Management

the funnel, the entire process can be

terms of your recruitment goals is an

at the Wharton School in Pennsylvania

made more efficient in terms of both

essential first step. Caroline Kilbey,

in the US, says that companies are

time and cost.

Head of Strategic Relationships at

better off creating a smaller but better

digital recruitment company Strider,

qualified pool of applicants to potentially

3. Make sure the role fits your

says that defining the ideal person for

fill a particular role. This is because, he

budget – and vice versa

a role is integral before even starting to

says, every applicant costs the company

We all know the conundrum: we want

actively recruit. “Before anything else,

money. “Collecting lots of applicants in a

the best candidate possible for the

you first need to define the roles you

wide funnel means that a great many of

role, but budgets are stretched thin.

are recruiting for,” she says. “Once that

them won’t fit the job or the company,

But making sure you have the proper

is done, you should have a clear idea in

so employers have to rely on the next

budget for the best qualified candidate

your head of what the ideal candidate

step of the hiring process—selection—to

is a crucial detail, and can have long

would be in terms of past experience

weed them out,” he says. This next step,

term effects on the profitability of that

and attributes.”

he points out, is often the hardest part of

hire in terms of your recruitment costs.

110 | TOP500 | 12th Edition

6 ways to ensure that you employ the right people | editorial

company as opposed to the same level

done, rather than the job title itself. In

of candidate with only large corporate

this way, recruitment can rather focus

experience. Cultural fit is also important:

on best solutions to fill critical skills gaps,

in a recent podcast interview, APCQ

whether through build, buy, borrow or

Executive Director of HR Ashley White

some combination of the three.

says getting this right helps you avoid hiring someone who’s a perfect fit for the role, but who is then miserable at work and needs to be replaced in a month or two. Finding someone who is the right cultural fit, she says, is about peeling back the layers and getting to know more about the life and interests of the person outside of work. “I want to know those things not because it’s going to change my hiring decision, but it’s because it gives me a sense of who

6. Work towards being an

you are, and whether you’re going to be

attractive employer

happy here,” she says.

This is a long term goal, but a company with a good reputation and where people want to work is far more likely

“Finding the right person for your organisation is a challenging task, but it’s well worth doing it properly.

to attract good hires. This comes through a combination of attractive benefits and a positive work culture.

When you successfully achieve this, good candidates will come to you. In Fortune’s 100 Best Companies to Work For, the top companies were ones that not just survived the Covid shutdowns, but actually thrived. As it turns out, businesses that treat employees well during the toughest of times will attract talent, even when there’s tough competition around.

“You get what you pay for, so while you

5. Hire beyond just the role

Finding the right person for your

may think you have saved on paying

A recent white paper by Gartner found

organisation is a challenging task, but

someone less, you may not attract the

that several environmental shifts

it’s well worth doing it properly. Having

best person for the role,” says Kilbey.

have rendered recruiting’s traditional

an appropriate recruitment strategy in

“This can ultimately mean you have

approaches outdated, which have been

place that takes into account our new

to go through the entire recruitment

accelerated by the Covid-19 pandemic.

world of work and that takes a long term

process again further down the line.”

In conventional recruitment drives,

view in terms of what that employee will

business leaders typically define

add in the long term is the most effective

4. Look for a good company

their hiring needs by articulating the

way of going about it. Post pandemic

culture fit

candidate profile they want to see in

companies are going to need to be

If you can, try to recruit from a company

the role, presuming that desired skills

as competitive as possible in order to

similar to your own. For example,

are tied to certain qualifications or

survive, and for those lucky enough

someone who has succeeded in a

experiences. But increasingly, leading

to be thriving and expanding, this

small, agile start-up is likely to have the

organisations are rather focusing on the

means having the right people to

right attributes for your small and agile

essential skills needed to get the job

help them grow. n

12th Edition | TOP500 | 111

editorial | ENSURING EMPLOYEE WELLBEING

Ensuring employee wellbeing = investing in productivity

By Yael Geffen, CEO of Lew Geffen Sotheby’s International Realty

T

he focus on employee wellness

affects more than just medical costs;

has traditionally been on their

that there is a direct correlation

– research has shown that in

physical well-being and the

between a holistically healthy workforce

companies with employee

and a productive workforce.

wellness programmes, staff feel

prevention of absenteeism, but this

•

is starting to change and a growing

Increased employee engagement

more connected, their health

number of employers now realise that

What is also becoming evident is that,

is improved and they generally

physical health is only one component

although we are all responsible for

feel happier. These important

when talking about healthy and well-

our own health, employers play an

factors, along with recognition and

functioning employees.

important role as well as a tremendous

constructive feedback practices,

opportunity to assist their employees

all contribute to higher employee

This shift was accelerated by the

in realising the value of adopting

engagement levels.

pandemic, with employers noticing

healthier behaviours so they can

the impact of the resultant stress on

lead healthier lives.

employee wellbeing – and the effect

•

Improved employee morale – if the pandemic taught us anything, it’s the importance of maintaining

it has had on their performance, and

And this is where a healthy and

or raising staff morale and, by

consequently, on the company’s

supportive workplace culture is so

introducing wellbeing initiatives

bottom line.

important; one where a sound wellness

such as mental health workshops

strategy is reinforced and encouraged will

or fitness programmes among

Ultimately, it’s becoming more and

not only benefit the employees but also

departments or teams. Attracting

more obvious that employee health

the company in several compelling ways:

the most talented workers –

112 | TOP500 | 12th Edition

ENSURING EMPLOYEE WELLBEING | editorial

companies that are seen to care

working correctly and that they

your workplace and creates an

for their employees and offer

include everyone, you can alleviate

emotional bond that automatically

additional benefits like wellness

one of the main sources of work-

makes it a better place to work

programmes will always attract the

related stress.

for everyone.

best candidates.

•

•

Listen to your employees – when

Reduced absenteeism and

people have grievances that are

Although the pandemic wreaked havoc

healthcare costs – we all know the

not addressed, they start to feel

on so many aspects of our lives, one

old adage, “prevention is better

that their opinions don’t matter,

silver lining is that it has undoubtedly

than cure” and it’s very apt in the

but when you take the time to

turned the spotlight on the importance

workplace because the knock-

hear about issues or listen to their

of mental wellbeing and this will lead

on costs of stressed employees,

recommendations, they will feel

to better understanding and more

burnout and preventable diseases

like valued members of staff

empathy in the workplace.

are a lot higher than preventative

which automatically raises morale

programmes at the end of the day.

•

“Recognise their work and their efforts”

and wellbeing.

Employers have already begun

Give regular and timely feedback

focusing less on specific physical

– when you regularly give your

health conditions and more on the

employees feedback, they feel that

importance of holistic health with a

their work and their growth in the

focus being on prevention rather

company matters. Furthermore,

than cure.

feedback will enable them to learn, work better, continue learning and

The costs of employee disengagement,

feel as though their career is on

absenteeism and healthcare are too

track and advancing.

high to be ignored and I believe that

Show empathy – having

very soon we will start seeing more

Over and above the implementation

empathy and compassion for

diversified employee wellbeing benefits

of wellness programmes, there are a

your employees humanises

and programmes in the workplace. n

•

number of ways that employers can – and should – ensure the wellbeing of their employees.

•

Recognise their work and their efforts – employees will always feel more satisfied and fulfilled in their jobs if their hard work and dedication is appreciated and recognised and a culture of appreciation will also further empower and encourage employees. It’s also a good idea to establish rewards platforms as it gives them something to strive towards.

•

Facilitate seamless communication – with remote work now the norm, although it works on many levels it also disrupts many aspects, including communication and collaboration/teamwork. By ensuring that the channels of communication are always open,

12th Edition | TOP500 | 113

editorial |

Changing times: Consumers reimagined

By Mpho Hlefana, Group Marketing Manager at Decision Inc.

A

ccenture surveyed more than

to exposure to global brands and

25,000 customers across 22

standards, customers expect fair pricing

countries and found consumers

and good service – and they will leave

have changed their buying habits and

brands they’ve been loyal to for years to

preferences, altering the power dynamic

get what they want, at a better rate.

between brands and people completely.

The research didn’t find these changes

Customers also expect businesses to

within a specific demographic or age

know them better. To be able to almost

group, in fact they’re a heterogenous

identify their needs pre-emptively

group that expects more from

with interactions and engagements

brands when it comes to values, cost,

that connect with them on a highly

convenience, service, reputation

personalised level. Brands need to be

and trust. Consumer attitudes have

serving up ads and content from the

been fundamentally reshaped by the

moment a customer starts surfing for

pandemic, and will likely continue

a product or service, and they need

to evolve in fresh directions that will

to ensure that these are relevant and

equally reshape how companies engage

customised. They also expect that

with them. Those that do not evolve, will

their experiences with a business will

not survive.

be uniform across every channel and touchpoint – regardless of whether

Dealing with consumers has become

this is instore or via a digital channel.

more complex primarily because of

Customers are more connected now

expectations. The power dynamic that

than ever before and they’re influenced

long rested in the hands of the mighty

by more than just adverts and content,

business has now landed in those of

they’re equally influenced by their

the consumer. They have more choice,

peers, influencers, social media and

they have access to more information,

global opinion. Purchasing decisions are

they want better pricing and service,

powerfully impacted by the people that

and they want personalisation. Thanks

customers identify with, but equally by

114 | TOP500 | 12th Edition

Changing times: Consumers reimagined | editorial

“COMPANIES THAT DON’T HAVE THE RESOURCES AND SCALE CAN USE DATA TO GAIN A COMPETITIVE EDGE.”

how products and services recognise customer individuality and uniqueness.

These shifting dynamics and requirements are putting organisations under immense pressure. They have to do more, go further, and reinvent old wheels so that they always feel fresh and relevant. They have to invest more time into understanding how to compete globally while still remaining locally engaging, and they have to stay top of customer mind all the time. Especially the minds of those who are perceived as influential. From a business to business perspective (B2B), this may mean having a customer advocate or working with ordinary people who have large online followings to promote their brands.

“They have to invest more time into understanding how to compete globally while still remaining locally engaging, and they have to stay top of customer mind all the time.”

Companies are also increasingly turning

offers the business vivid insights that

to data as a way of navigating these

can transform decision making and

complexities. They’ve recognised the

customer engagement, but that it’s

importance of analytics and data

accessible to organisations of all sizes.

insights in helping them to make

Companies that don’t have the

decisions that are comprehensively

resources and scale can use data to gain

relevant to their business and their

a competitive edge. By listening to their

customers. And they want to effectively

customers, they can remain competitive

use the data available to their business

and alert to further change. And if

so they can make faster and more

they focus on using the data alongside

accurate decisions. The value of this

influencers and toolsets designed

data-driven mindset is not just that it

to drive hyper-personalisation and

engagement, then they can effectively compete in a crowded market. Dealing with empowered customers is extremely challenging given the rapid pace at which consumer needs change, so packing the toolbox with all the right equipment is essential for any business of any size. It may seem overwhelming, but if companies use the data at their disposal and respond with more informed reactions and engagements, then they are setting themselves on the right path to success. n

115 | TOP500 | 12th Edition

top500 12th edition | ranking

how we ra n k

South Africa’s Best Managed Companies

116 | TOP500 | 12th Edition

ranking | top500 12th edition

THE TOP 500 RESEARCH METHODOLOGY WAS DESIGNED IN CONJUNCTION WITH THE UNIVERSITY OF CAPE TOWN’S DEVELOPMENT POLICY RESEARCH UNIT.

T

he Top 500 aims to identify

within the measure. The dynamism

at the level of management and

the top f ive companies in

of top companies is reflected in their

control. The proportion of black and

each of 100 business sectors

ability to expand and grow, and so we

female executive and non-executive

monitored by the Topco Research

include two medium-weight indicators

directors is evaluated to complete the

Department. In order to do so, some

– one relative, one absolute – of growth

scoring for this sphere. Top companies

measure of the qualities that we

in the scoresheet. The former indicator

are involved within communities and

consider to be characteristic of top

is the rate of turnover growth over the

are committed to quality. This sphere

companies must be designed in

year – since top companies are faster-

of policy and accreditation accounts

order to rank companies.

growing – while the latter is the Rand

for the remainder of the total score. In

value of the turnover growth.

gauging companies’ engagement and

To be classed as one of South

involvement within communities, we

Af rica’s best companies, we

Absolute turnover growth is

measure their total spend on corporate

expect companies to excel in three

included to account for the fact

social investment activities relative to

key spheres, namely f inancial

that top companies’ growth should

net profit.

performance, empowerment, and

make a large contribution to increased

policy and accreditation. The criteria

total output. These two indicators

Companies are also judged on the

within f inancial performance speak

have a medium weight within the

existence of written policies regarding

to the ideas of top companies being

scoring system. Top companies are

employment equity, skills development,

large, growing and productive

more productive than other companies

health and safety, HIV/Aids, and the

institutions that are leaders by virtue

and the final performance indicator,

environment. The final criterion within

of their size and dynamism. Financial

turnover per employee, which

this sphere, commitment to quality,

performance is measured by four

has a medium weight, speaks

is proxied by the number of SABS-

indicators: turnover, rate of turnover

to this characteristic.

approved accreditations held by

growth, Rand turnover growth and turnover per employee.

companies.

The business sector has an important role to play in promoting equity and

“Top companies go further than just employment, and are committed to ensuring greater diversity”

MORNÉ OOSTHUIZEN

social transformation. Top companies

DEPUTY DIRECTOR

are committed to fulfilling this role,

Development Policy Research Unit,

and this commitment is measured

University of Cape Town

using six criteria. Two of these criteria focus on companies’ commitment to the goal of transformation as demonstrated in their employment profiles, namely the shares of employment accounted for by

Size is both an indicator and an

female employees and by black

outcome of whether or not a

employees respectively.

company is a top company. From the perspective of financial performance,

Top companies, however, go further

turnover is used to proxy company size

than just employment, and are

and this indicator has large weight

committed to ensuring greater diversity

12th Edition | TOP500 | 117

top500 12th edition | ranking

PR I MARY

South Africa’s Best Managed Companies

RESOURCES

TOP 500 12TH EDITION OFFICIAL

Coal Thungela Resources Limited Exxaro Resources Limited Sasol Mining (Pty) Ltd Salungano Group Limited

Gold Sibanye Stillwater Limited Harmony Gold Mining Company Limited Gold Fields Limited AngloGold Ashanti Limited

South Africa’s best DRDGOLD Limited managed companies Platinum

Anglo American Platinum Limited Impala Platinum Holdings Limited

This is to certify that

Northam Platinum Holdings Limited Royal Bafokeng Platinum Ltd

Diversified Mining Oceana Group Limited

Anglo American Platinum Limited African Rainbow Minerals Limited Exxaro Resources Limited

has been ranked

No.1 in theSouth32 Limited

Bauba Resources Limited

Fishing Sector

2021 from A erospace to gaming & les u ire . w e take a look at the top ranking sectors of the y ear 2 0 2 2

Gas Petroleum, Oil and Gas Corporation of South Africa (PetroSA) African Oxygen Limited Sasol Limited (Gas division) Air Products South Africa (Pty) Ltd

Metals and Minerals Topco Media Research Foundation

Ralf Fletcher CEO

Kumba Iron Ore Limited Merafe Resources Limited Foskor Limited Bauba Resources Limited

118 | TOP500 | 12th Edition

2021

ranking | top500 12th edition

S econdary

Building & Construction Materials Afrimat Limited

B a sic Indu stries

Trellidor Holdings Limited Turner & Townsend (Pty) Ltd

Speciality Chemicals Sasol LImited AECI Limited African Oxygen Limited Spanjaard Limited Omnia Holdings

Retail & Commercial Fuels Engen Petroleum Limited BP Southern Africa (Pty) Ltd Shell Downstream South Arica (Pty) Ltd Total South Africa (Pty) Ltd

Builders Merchants Cashbuild South Africa (Pty) Ltd Italtile Limited Massbuild (Pty) t/a Builders Warehouse Brikor Limited

Mazor Group Limited Brikor Limited

Cement PPC Limited Afrimat Limited AfriSam South Africa (Pty) Ltd Sephaku Cement

Construction Groups Aveng Africa Limited Wilson Bayly Holmes-Ovcon Limited Murray & Roberts Holdings Limited Raubex Group Limited Motheo Construction Group (Pty) Ltd

Steel ArcelorMittal South Africa Limited Hulamin Limited Aveng (Africa) Limited

general Ind ustr ies Aerospace and Defence Armaments Corporation of South Africa SOC Limited Paramount Advanced Technologies (Pty) Ltd Reutech Radar Systems a division of Reutech Limited

Diversified Industrials The Bidvest Group Limited Barloworld Limited Imperial Logistics Limited KAP Industrial Holdings Limited Argent Industrial Limited

12th Edition | TOP500 | 119

top500 12th edition | ranking

Electrical Equipment ACTOM (Pty) Ltd Voltex (Pty)Ltd South Ocean Holdings Limited Circuit Breaker Industries

Electronic Products Reunert Limited Altron Systems Integration, a division of Altron TMT (Pty) Ltd Etion Digitise Limited Ellies Holdings Limited Siemens SA Limited

Industrial Products & Equipment Barloworld Limited KAP Industrial Holdings Limited Hudaco Industries Limited enX Group Limited Invicta Holdings Limited

Household Appliances

Consulting Engineering Mining & Infrastructure

Hisense Sa Sales Holdings (Pty) Ltd

Zutari (Pty) Ltd

LG Electronics SA (Pty) Ltd

Bigen Africa Services (Pty) Ltd

Nu-World Holdings Limited

Lesedi Nuclear Services (Pty) Ltd

Ellies Holdings Limited

Defy Appliances (Pty) Ltd

SMEC South Africa (Pty) Ltd

Mining Services Murray & Roberts Cementation (Pty) Ltd AECI Mining Explosives Strata Mining Services (Pty) Ltd Trollope Mining Services 2000 (Pty) Ltd

Non-Cyclical Cunsumer Goods Agriculture Omnia Holdings Limited Senwes Limited Kaap Agri Bedryf Limited VKB Beleggings (Pty) Ltd

Cyclical Cunsumer Goods

TWK Agriculture Holdings (Pty) Ltd

Farming Automobiles

Oceana Group Limited

Volkswagen of South Africa (Pty) Ltd

Astral Operations Limited

Toyota South Africa Motors (Pty) Ltd

RCL Foods Limited

Nissan South Africa (Pty) Ltd

Quantum Foods Holdings Limited

Renault South Africa (Pty) Ltd

Crookes Brothers Limited

120 | TOP500 | 12th Edition

ranking | top500 12th edition

Fishing Oceana Group Limited Premier Fishing and Brands Limited Sea Harvest Group Limited

Food Processors Groups Tiger Brands Limited Libstar Holdings Limited AVI Limited

Tert i a ry Cycli cal Servi ces Direct Response Marketing Homechoice Holdings Limited Verimark Holdings Limited Homemark (Pty) Ltd

RFG Holdings Limited Crookes Brothers Limited

Packaging Nampak Limited Mpact Limited Transpaco Limited

Diversified Retailers Shoprite Holdings Limited Woolworths Holdings Clicks Group Limited Pick n Pay stores Limited Massmart Holdings Limited

Bowler Metcalf Limited

Personal Products Amka Products (Pty) Ltd Johnson & Johnson (Pty) Ltd

Retail - Soft Goods The Foschini Group Limited Truworths International Limited Mr Price Group Limited

Kimberley-Clark South Africa (Pty) Ltd HPCB a division of Tiger Brands Limited

Pharmaceuticals Aspen Pharmacare Holdings Limited Adcock Ingram Holdings Limited

Gaming & Leisure Phumelela Gaming and Leisure Limited Gold Circle (Pty) Ltd Tsogo Sun Gaming Limited Sun International Limited

Ascendis Health Limited Sanofi Aventis South Africa (Pty) Ltd

Sugar RCL Foods Limited Tongaat Hulett Limited

Hotels Southern Sun Limited Sun International Limited Peermont Global (Pty) Ltd City Lodge Hotels Limited

12th Edition | TOP500 | 121

top500 12th edition | ranking

Restaurant & Pubs Holdings Companies

Exhibition & Conference Facilities

Famous Brands Limited

DURBAN ICC

Spur Corporation Limited

Cape Town International Convention Centre

Johannesburg Expo Centre

Company SOC Ltd (RF)

Broadcasting Contractors

RX Africa.

MultiChoice Group Limited Sentech SOC Limited

Recruitment Groups

E Media Holdings Limited

Workforce Holdings Limited

South African Broadcasting

Adcorp Holdings Limited

Corporation SOC Limited (SABC) African Media Entertainment Limited

ADvTECH Limited Primeserv Group Limited CSG Holdings Limited

Media Groups Naspers Limited

Fleet Management & Vehicle Tracking

Media24 Holdings (Pty) Ltd

Fleet Africa (Pty) Ltd

Novus Holdings Limited

Netstar (Pty) Ltd

Caxton and CTP Publishers

MiX Telematics Limited

and Printers Limited

Business Process Outsourcing Advertising

Innovation Group (Pty) Ltd

King James Cape Town Pty Ltd

Syntell (Pty) Ltd

Joe Public United

CallForce Direct (Pty) Ltd

Saatchi &Saatchi

Aegis Outsourcing South Africa (Pty) Ltd Sigma Connected South Africa (Pty) Ltd

Legal Services Bowmans

Bee Verification Agencies

Webber Wentzel

HONEYCOMB BEE RATINGS

Spoor & Fisher

Noble BBBEE Advisory

Fasken (Incorporated in South Africa

AAA BEE Verification Agency CC

as Bell Dewar Inc.) Adams & Adams

122 | TOP500 | 12th Edition

Empowerdex (Pty) Ltd Fidelity Verification (Pty) Ltd

ranking | top500 12th edition

Corporate Security Services

Consumer Electronics

Mustek Security Technologies

Mustek Limited

Fidelity Security Group (Pty) Ltd

Hisense Sa Sales Holdings (Pty) Ltd

Bidvest Protea Coin (Pty) Ltd

Ellies Electronics Proprietary Limited LG Electronics SA (Pty) Ltd

Service Delivery (SOC) Eskom Holdings SOC Ltd Transnet SOC Ltd

Utilities

Telkom SA SOC Ltd. PRODUCTIVITY SA

Water

SENTECH

Rand Water Johannesburg Water SOC Limited

Road Freight

Umgeni-Water

Super Group Limited

Mhlathuze Water

Santova Limited

Bloem-Water

Value Group Limited OneLogix Group Ltd

Non-Cyclical Services Medical aid schemes Bonitas Medical Fund Discovery Limited Fedhealth Medical Scheme Medshield Medical Aid

Hospital Management Life Healthcare Group Holdings Limited Netcare Limited AfroCentric Investment Corporation Limited Mediclinic International plc Advanced Health Limited

Food Retailers Shoprite Holdings Limited Pick n Pay stores Limited Woolworths Holdings Limited The SPAR Group Limited

Telecommunications (Wireless) Vodacom Limited MTN Limited Cell C Limited

12th Edition | TOP500 | 123

top500 12th edition | ranking

Financials

Life Insurance Sanlam Limited Liberty Holdings Limited

Banks

Discovery Limited

Capitec Bank Limited

Momentum Metropolitan Life Limited

Nedbank Group Limited

Outsurance Holding Limited

Absa Limited FirstRand Limited African Bank Holdings Limited

Real Estate Holdings and Development Growthpoint Properties Limited

Short-term Insurance

Rebosis Property Fund Limited

Santam Limited

Attacq Limited

Old Mutual Insure Limited

Vukile Property Fund Limited

AIG South Africa Limited

Redefine Properties Limited

The Hollard Insurance Company Ltd

Specialized Finance

Investment Holding Companies

Grand Parade Investments Limited

Remgro Limited

Alexander Forbes Limited

Arb Holdings Limited

Transaction Capital Limited

Hosken Consolidated Investments Limited

Conduit Capital Limited

African Equity Empowerment Investments Limited

PSG Konsult Limited

Brimstone Investment Corporation Limited

Financial services

Investment Services

Rand Merchant Investment Holdings Limited

JSE Limited

African Rainbow Capital Investments Limited

Vunani Limited

Transaction Capital Limited

PSG Konsult Limited

Finbond Group Limited

Purple Group Limited

African Dawn Capital Limited

Sasfin Holdings Limited

Asset Management Old Mutual Limited Coronation Fund Managers Ninety One Sygnia Ltd PSG Group

Accounting & Consulting KPMG Services Proprietary Limited Ernst & Young t/a EY South Africa Auditor-General of South Africa SizweNtsalubaGobodo Grant Thornton Advisory Services (Pty) Ltd

124 | TOP500 | 12th Edition

ranking | top500 12th edition

Information Technology Computer Hardware Mustek Limited Alviva Holdings Limited Dell Computer (Pty) Ltd Acer Africa (Pty) Ltd IBM South Africa (Pty) Ltd

Telecommunications Solutions Vox Telecommunications Pty Ltd Jasco Electronic Holdings Limited TeleMasters Holdings Ltd Boniswa Corporate Solutions

Alviva Holdings Limited Altron Systems Integration, a division of Altron TMT (Pty) Ltd EOH Holdings Limited

Business Software Solutions Rectron (Pty) Ltd Sage South Africa (Pty) Ltd Etion Limited ENRA Technologies CC ISA Holdings Limited

Education

Huge Group Ltd.

Universities IT component distributors

University of South Africa

Rectron (Pty) Ltd

University of Stellenbosch

Pinnacle Micro (Pty) Ltd

North West University

Tarsus Distribution (Pty) Ltd

University of Witwatersrand

Axiz (Pty) Ltd

University of KwaZulu-Natal

Information Technology Groups Datatec Limited Adapt IT Holdings Limited

12th Edition | TOP500 | 125

top500 12th edition | a-z listing

A Absa Limited Acer Africa (Pty) Ltd ACTOM (Pty) Ltd Adams & Adams Adapt IT Holdings Limited Adcock Ingram Holdings Limited Adcorp Holdings Limited Advanced Health Limited ADvTECH Limited AECI Limited AECI Mining Explosives Aegis Outsourcing South Africa (Pty) Ltd African Bank Holdings Limited African Dawn Capital Limited African Equity Empowerment Investments Limited African Oxygen Limited African Oxygen Limited African Rainbow Capital Investments Limited African Rainbow Minerals Limited Afrimat Limited AfriSam South Africa (Pty) Ltd AfroCentric Investment Corporation Limited AIG South Africa Limited Air Products South Africa (Pty) Ltd Air Traffic and Navigation Services Company Limited Airports Company South Africa Alexander Forbes Limited Altron Systems Integration, a division of Altron TMT (Pty) Ltd Alviva Holdings Limited Amka Products (Pty) Ltd Anglo American Platinum Limited AngloGold Ashanti Limited Arb Holdings Limited ArcelorMittal South Africa Limited Argent Industrial Limited

126 | TOP500 | 12th Edition

Armaments Corporation of South Africa SOC Limited Ascendis Health Limited

Chrometco Ldt Circuit Breaker Industries t/a CBIelectric:Low Voltage

Aspen Pharmacare Holdings Limited

City Lodge Hotels Limited

Aspire Solutions

Clicks Group Limited

Astral Operations Limited

Clientele Life Assurance Company

Attacq Limited Auditor-General of South Africa Aveng Africa Limited

Limited CMH Car Hire (Pty) Ltd t/a First Car Rental

Aveng Trident Steel (Pty) Ltd

Cognition Holdings Limited

AVI Limited

Conduit Capital Limited

Axiz (Pty) Ltd

Coronation Fund Managers

B Barloworld Limited

Crookes Brothers Limited CSG Holdings Limited

Bauba Resources Limited

D

Bell Equipment Company South Africa

Datatec Limited

(Pty) Ltd

Defy Appliances (Pty) Ltd

Bidvest Protea Coin (Pty) Ltd

Dell Computer (Pty) Ltd

Bigen Africa Services (Pty) Ltd

Deneb Investments Corporation Limited

bizAR Reality

Discovery Heath Medical Scheme

Bloem-Water

(DHMS)

Boniswa Corporate Solutions

Discovery Limited

Bowler Metcalf Limited

Distell Group Limited

Bowmans

DRDGOLD Limited

BP Southern Africa (Pty) Ltd

DURBAN ICC

Brait South Africa Limited Brikor Limited

E

Brimstone Investment Corporation

E Media Holdings Limited

Limited

Ellies Electronics Proprietary Limited

C

Ellies Holdings Limited

Calgro M3 Holdings Limited

Empowerdex (Pty) Ltd

CallForce Direct (Pty) Ltd

Engen Petroleum Limited

Cape Town International Convention Centre Company SOC Ltd (RF) Capitec Bank Limited Cashbuild South Africa (Pty) Ltd Caxton and CTP Publishers and Printers Limited CBI-electric:Low Voltage Cell C Limited

eMEDIA HOLDINGS LIMITED

ENRA TECHNOLOGIES cc enX Group Limited EOH Holdings Limited Ernst & Young t/a EY South Africa Eskom Holdings Limited Etion Digitise Limited Elite Wealth Assets Insurance Exxaro Resources Limited

a-z listing | top500 12th edition

Homechoice Holdings Limited

Media24 Holdings (Pty) Ltd

Homemark (Pty) Ltd

Mediclinic International plc

HONEYCOMB BEE RATINGS

Medshield Medical Aid

Hosken Consolidated Investments

Melsoft Private Limited

Limited

Mhlathuze Water

HPCB a division of Tiger Brands Limited

MiX Telematics Limited

Hudaco Industries Limited

Momentum Metropolitan Life Limited

Huge Group Limited

MoneyWeb Holdings Limited

Huge Telecom (Pty) Ltd

Motheo Construction Group (Pty) Ltd

Hulamin Limited

Mpact Limited

Hyprop Investment Limited

Mr Price Group Limited

I

Fasken (Incorporated in South Africa as Bell Dewar Inc.) Fedhealth Medical Scheme Fidelity Security Group (Pty) Ltd Fidelity Verification (Pty) Ltd Finbond Group Limited FirstRand Limited Fleet Africa (Pty) Ltd Fortress Income Fund Limited (Fortress REIT) Foskor Limited

G Gold Circle (Pty) Ltd Gold Fields Limited Grand Parade Investments Limited

MultiChoice Group Limited Murray & Roberts Cementation (Pty) Ltd

ICC Durban (Pty) Ltd

Murray & Roberts Holdings Limited

Impala Platinum Holdings Limited

Mustek Limited

Imperial Logistics Limited

Mustek Security Technologies

Investec Limited

N

Invicta Holdings Limited

Naked insurence

ISA Holdings Limited

Nampak Limited

Italtile Limited

Naspers Limited

J

Famous Brands Limited

MTN Limited

IBM South Africa (Pty) Ltd

Innovation Group (Pty) Ltd

F

Merafe Resources Limited

Hospitality Property Fund Limited

Nedbank Group Limited Netcare Limited

Jasco Electronic Holdings Limited

Netstar (Pty) Ltd

Joe Public United

Ninety One.

Johannesburg Expo Centre

Nissan South Africa (Pty) Ltd

Johannesburg Water SOC Limited

Noble BBBEE Advisory

Johnson & Johnson (Pty) Ltd

Northam Platinum Holdings Limited

JSE Limited

Novus Holdings Limited

K

Nu-World Holdings Limited

Kaap Agri Bedryf Limited

O

KAP Industrial Holdings Limited

Oceana Group Limited

Kimberley-Clark South Africa (Pty) Ltd

Old Mutual Insure Limited

King James Cape Town Pty Ltd

Old Mutual Life Assurance Company

KPMG Services Proprietary Limited Kumba Iron Ore Limited

L

South Africa Limited Old Mutual Limited Old Mutual Limited Omnia Holdings Limited

Lesedi Nuclear Services (Pty) Ltd

OneLogix Group Ltd

Lewis Group Limited

Outsurance Holding Limited

LG Electronics SA (Pty) Ltd

OVK Bedryf Beperk

Liberty Holdings Limited Life Healthcare Group Holdings Limited

P

Growthpoint Properties Limited

Luxe Holdings Limited

Paramount Advanced Technologies

H

M

Peermont Global (Pty) Ltd

Massbuild (Pty) t/a Builders Warehouse

Petra Diamonds Southern Africa

Massmart Holdings Limited

Petroleum, Oil and Gas Corporation of

Grindrod Limited

Harmony Gold Mining Company Limited Hisense Sa Sales Holdings (Pty) Ltd Hollard Insurance Company Limited

Mazor Group Limited

(Pty) Ltd

South Africa (PetroSA) 12th Edition | TOP500 | 127

top500 12th edition | a-z listing

T Tarsus Distribution (Pty) Ltd TeleMasters Holdings Limited The Bidvest Group Limited The Foschini Group Limited The Hollard Insurance Company Ltd The SPAR Group Limited Thungela Resources Limited Tiger Brands Limited Tongaat Hulett Limited Total South Africa (Pty) Ltd Toyota South Africa Motors (Pty) Ltd Transaction Capital Limited Transaction Capital Limited Transpaco Limited Trellidor Holdings Limited

Phumelela Gaming and Leisure Limited

Sanlam Limited

Pick n Pay stores Limited

Sanofi Aventis South Africa (Pty) Ltd

Pinnacle Micro (Pty) Ltd

Santam Limited

PPC Limited

Santova Limited

Premier Fishing and Brands Limited

Sasfin Holdings Limited

Primeserv Group Limited

Sasol LImited

PSG Group

Sasol Limited (Gas division)

PSG Konsult Limited

Sasol Mining (Pty) Ltd

Purple Group Limited

Umgeni-Water

Sea Harvest Group Limited

Putprop Limited

University of KwaZulu-Natal

Sentech SOC Limited

University of Limpopo

Q

Senwes Limited

University of South Africa (UNISA)

Quantum Foods Holdings Limited

Sephaku Cement

University of Stellenbosch

Shell Downstream South Arica (Pty) Ltd

University of Witwatersrand

R Rand Merchant Investment Holdings Limited Rand Water Raubex Group Limited RCL Foods Limited Rebosis Property Fund Limited Rectron (Pty) Ltd Redefine Properties Limited Remgro Limited Renault South Africa (Pty) Ltd Reunert Limited Reutech Radar Systems a division of Reutech Limited RFG Holdings Limited Royal Bafokeng Platinum Ltd RX Africa.

S

Shoprite Holdings Limited Sibanye Stillwater Limited

Trollope Mining Services 2000 (Pty) Ltd Truworths International Limited Tsogo Sun Gaming Limited Turner & Townsend (Pty) Ltd TWK Agriculture Holdings (Pty) Ltd

U

V

Siemens SA Limited

Value Group Limited

Sigma Connected South Africa (Pty) Ltd

Verimark Holdings Limited

SizweNtsalubaGobodo Grant Thornton

VKB Beleggings (Pty) Ltd

Advisory Services (Pty) Ltd

Vodacom Limited

SMEC South Africa (Pty) Ltd

Volkswagen of South Africa (Pty) Ltd

SNG Grant Thornton

Voltex (Pty)Ltd

South African Broadcasting Corporation

Vox Telecommunications (Pty) Ltd

SOC Limited (SABC) South Ocean Holdings Limited South32 SA Coal Holdings Pty Ltd

Vukile Property Fund Limited Vunani Limited

Southern Sun Limited

W

Spanjaard Limited

Webber Wentzel

Spoor & Fisher

Wilson Bayly Holmes-Ovcon Limited

Spur Corporation Limited

Winhold Limited

Strata Mining Services (Pty) Ltd

Woolworths Holdings Limited

Sun International Limited

Workforce Holdings Limited

Sun International Limited

Saatchi & Saatchi

Super Group Limited

Z

Sage South Africa (Pty) Ltd

Sygnia Ltd

Zeder Investments Limited

Salungano Group Limited

Syntell (Pty) Ltd

Zutari (Pty) Ltd

128 | TOP500 | 12th Edition

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