Top 500 | 14th Edition - VEA Road Maintenance and Civils

South Africa’s best managed companies

Thoko Tshabalala-Shandu Managing Director of VEA Road Maintenance and Civils

THE i7 BAYERISCHE MOTOREN WERKE 2 | TOP500 | 14TH EDITION

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UPFRONT

LEADING FROM THE FRONT

8 | Contributors

16 | Prof Parmi Natesan, IoDSA - Putting SA Inc on the map

8 | Featured clients

20 | Chipo Mushwana, Nedbank - The financial resilience imperative

9 | Editor’s letter

24 | Logashri Sewnarain, SMEC SA - Creating meaningful, lasting impact

EDITORIAL

28 | Marthinus Visser, Outsurance Group - Expanding internationally

10 | Cover story

32 | Anthony Leeming, Sun International - Doing business the right way

LEADERSHIP 57 | Closing the digital divide: Sentech Acting CEO, Tebogo Leshope 58 | Navigating social media policy in Africa - Meta’s Duduetsang Makuse 59 | I built the ‘Amazon’ of Zimbabwe - Kudakwashe Manzanga, CEO, The Daily Sale Shop 60 | CFO or Chief Value Officer? Nedbank’s Mike Davis on mapping a sustainable future 62 | Corporate lessons from the Springboks 64 | What top female CFOs are looking for at the C-suite level 68 | The Future of CSI: Creating shared value 72 | The shift to a skills-based approach

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74 | Greater transparency: Business through the ESG lens

CONTENTS

TECHNOLOGY 88 | The future of banking in the AI revolution 90 | Online AdSpend Report 2024: Insights on the digital advertising landscape 94 | Catch-all solutions don’t exist: There are no silver bullets in tech

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98 | Protecting assets: Where data privacy meets cryptocurrency 102 | Through the cloud: Clearing up a complex technology 104 | “How I got 1.6 million youth registered to vote”

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68

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TIPS & ADVICE 106 | The who, the when and the how of beneficial ownership 108 | Don’t fear the debt: Why loans can move your business forward 110 | Is it worth it to outsource your HR department?

112 | How incentive and rewards programmes can help you retain and attract talent 114 | Building your dream team: 5 ways to enhance employee performance 116 | Why frontliners are the key to your organisation’s success

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106 SECTOR OVERVIEWS 118 | Banking 120 | Consulting engineering, mining and infrastructure 124 | Manufacturing 126 | Road Freight 128 | Telecommunications 131 | Retail 134 | Life Insurance 136 | Hotels

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138 | Exhibition and conference facilities

CREDITS

| EDITORIAL

C EO Ralf Fletcher

TOPCO STUDIO PRO D U CTIO N D IRECTO R Van Fletcher

RANKINGS AND INDEX 144 | How we rank the Top 500

GRO U P E D ITO R Fiona Wakelin D E PUTY E D ITO R Koketso Mamabolo

146 | Rankings

A S S ISTA N T E D ITO R Shumirai Chimombe

152 | A-Z Listing

GRA PH IC D E S IGN E RS Artizan, Tashwell Brown COVE R D E S IGN Sisanda Voko TRA FFIC M A N AGE R Daniël Bouwer

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BRA N D M A N AGE R Twaambo Chileshe RE S E A RC H M A N AGE R Veronique Anderson RE S E A RC H E RS Jamie Daniels, Pelisa Sokomani, Qasim Manan PROJ ECT M A N AGE R Emlyn Dunn BU S IN E S S D EVE LO PM E N T Odelia Fester, Clayton Petersen M A RK E TIN G Thabiso Mohlabeng, Samila Nkohla

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ACCO U N TS Amirah Esau, Celeste Isaacs, Sebastian Fletcher

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IM AGE S iStock, Pexels, Unsplash, Flickr PRIN TE RS LAWPrint H E A D O FFIC 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. No. 2011/105655/07. While every care has been taken

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when compiling this publication, the publishers, editor and contributors accept no responsibility for any

14THorEDITION | TOP500 | 7 consequences arising from any errors emissions.

ISBN: 9780620500746

CONTRIBUTORS

CONTRIBUTORS ANTHONY LEEMING CEO of Sun International PAULA HULLEY Online Revenue Report Project Lead, IAB South Africa Research & Measurement Council and ManagingDirector at Digitas Liquorice

F E AT U R E D CLIENTS

CHIPO MUSHWANA Executive of Emerging Innovation and Payments at Nedbank

ACTOM

CRAIG WHITE COO & Co-Founder of Geddes Capital

BARLOWORLD

DIRK RAS Architect at Dariel Software

B MW

ELDRÉ DE SWART Company Secretarial Administrator at Galbraith Rushby HANNES WESSELS General Manager, Southern and Francophone Africa, Binance JENS-PETER JENSEN Global Head of Finance for Financial Services at SAP JEREMY BOSSENGER Director at BossJansen Executive Search LOGASHRI SEWNARAIN CEO of SMEC South Africa MARTHINUS VISSER CEO Outsurance Group MICHAEL GULLAN CEO of G&G Advocacy

BONITAS DATATEC DP WORLD HONEYCOMB BEE RATINGS LEXISNEXIS SOUTH AFRICA MAB GROUP MSCT BEE SERVICES PREMIER GROUP

MOEKETSI RAMOKONE JP4iR Solutions

SANL AM

NELLY MOHALE Head of Human Capital at Decusatio

SUPER GROUP

PROFESSOR PARMI NATESAN CEO of The Institute Of Directors SA

TRAC N4 TOLL ROUTE

SETLOGANE MANCHIDI

Head of CSI at Investec STEVE MALLABY

Chief Executive, Adumo Payouts TARIRO MUTIZWA ACMA, CGMA, Regional Vice President – Africa, at AICPA & CIMA TOM MARSICANO CEO of ‘and Change’ 8 | TOP500 TOP500||14TH 14THEDITION EDITION

VEA ROAD MAINTENANCE AND CIVILS WSP GROUP AFRICA

EDITOR’S LETTER EDITOR’S LETTER

EDITOR’S EDITOR’S LETTER LETTER W W

hat a bumper edition we have for you this year! hat a bumper edition we have for you this year!

Despite 2024 being a tough one for many, both Despite 2024 being a tough one for many, both locally and globally, this 14th edition of Top500 Best locally and globally, this 14th edition of Top500 Best Managed Companies focusses on success and celebration.

Managed Companies focusses on success and celebration.

On our front cover we celebrate LexisNexis: On our front cover we celebrate LexisNexis: “I look forward to our company playing a role in advancing the “I look forward to our company playing a role in advancing the African continent, improving its contribution on the world stage, African continent, improving its contribution on the world stage, providing - through advancing the rule of law - more security, more providing - through advancing the rule of law - more security, more policy certainty, potentially better investment opportunities into policy certainty, potentially better investment opportunities into Africa, and really seeing the continent thrive and play its part on the Africa, and really seeing the continent thrive and play its part on the world stage,” – LexisNexis CEO, Ian Andrews. world stage,” – LexisNexis CEO, Ian Andrews.

Inside the publication we bring you a B2B feast: Leading from the Inside the publication we bring you a B2B feast: Leading from the front; Leadership; Tech; Tips and Advice; Sector overviews and, of front; Leadership; Tech; Tips and Advice; Sector overviews and, of course, the all important index and ranking of the Top 500 Best course, the all important index and ranking of the Top 500 Best Managed Companies in South Africa. The index and ranking are Managed Companies in South Africa. The index and ranking are the culmination of a year’s worth of research using criteria the culmination of a year’s worth of research using criteria formulated in conjunction with Morné Oosthuizen, Chief formulated in conjunction with Morné Oosthuizen, Chief Research Officer and Deputy Director of the Development Research Officer and Deputy Director of the Development Policy Research Unit at UCT. Policy Research Unit at UCT. Leading from the front focusses on thought leadership articles Leading from the front focusses on thought leadership articles and interviews from a selection of Top500 companies: The Institute and interviews from a selection of Top500 companies: The Institute of Directors, South Africa; Nedbank; SMEC; Outsurance; and of Directors, South Africa; Nedbank; SMEC; Outsurance; and Sun International.

Sun International.

For your edification and enjoyment, the Leadership section takes a For your edification and enjoyment, the Leadership section takes a look at: Closing the digital divide; Navigating social media policy in look at: Closing the digital divide; Navigating social media policy in Africa; Corporate lessons from the Springboks; The Future of CSI: Africa; Corporate lessons from the Springboks; The Future of CSI: Creating share value; and Business through the ESG lens.

Creating share value; and Business through the ESG lens.

In Tech we zoom in on all things AI and the Tips and Advice In Tech we zoom in on all things AI and the Tips and Advice segment delivers what it promises with a wide ranging selection of segment delivers what it promises with a wide ranging selection of articles that look at beneficial ownership; how loans can benefit articles that look at beneficial ownership; how loans can benefit your business; attracting and retaining top talent and 5 steps to your business; attracting and retaining top talent and 5 steps to getting your website to the top of Google. getting your website to the top of Google.

for: banks; consulting engineering, mining and for: banks; consulting engineering, mining and infrastructure; exhibition and conference infrastructure; exhibition and conference facilities; manufacturing; telecommunications; facilities; manufacturing; telecommunications; retail; life insurance; road freight; and hotels. retail; life insurance; road freight; and hotels.

Last but not least, we have the A-Z listing and Last but not least, we have the A-Z listing and Top 5 ranking of the best managed companies Top 5 ranking of the best managed companies in the country. in the country.

From our amazing team we wish you a safe and From our amazing team we wish you a safe and happy festive season – and a prosperous, happy festive season – and a prosperous, abundant 2025. abundant 2025.

We hope you enjoy the read.

We hope you enjoy the read.

FIONAWAKELIN WAKELIN FIONA Group Editor Group Editor

For an invaluable snapshot of industries making important For an invaluable snapshot of industries making important contributions to our economy, look no further than our sector contributions to our economy, look no further than our sector overviews. Here we have assimilated all the crucial trends and stats overviews. Here we have assimilated all the crucial trends and stats 14TH EDITION | TOP500 | 9 14TH 9 14TH EDITION EDITION || TOP500 TOP500 || 9

LEXISNEXIS SOUTH AFRICA

Ian Andrews, newly appointed CEO of LexisNexis South Africa ENHANCING THE POTENTIAL OF AFRICA BY ADVANCING THE RULE OF LAW

BY FIONA WAKELIN

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exisNexis is a global organisation that specialises in legal tech with flagship products which empower customers, offering intelligent, world class legal research solutions and streamlining workflows. Ian Andrews, the newly appointed CEO speaks to us on the importance of ESG, AI and the rule of law.

PURPOSE, VALUES AND A PASSION FOR WINNING LexisNexis is a market leader in legal solutions, academic content, workflow solutions and risk and compliance solutions. Priding themselves on the ability to offer tools and resources that allow customers to increase productivity and drive better outcomes within their businesses. This has included generative AI capabilities, the most recent being the revolutionary Lexis+ and Lexis+ AI legal research solutions.

IAN REFLECTS ON THE LEXISNEXIS CORE VALUES • Valuing our people: Purpose starts with our people, and the measure of a company’s success depends on its ability to nurture talent. At LNSA we foster an inclusive and innovative culture where employees are encouraged to think creatively. This not only builds a sense of belonging but drives innovation from within, leading to groundbreaking products like Lexis+, built on

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COVER STORY

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innovation and the ability to reimagine the way our customers work. By valuing our people, we create a ripple effect that leads to satisfied customers and a more successful business.

Boundarylessness: Our greatest innovations come from cross-team, cross-country and cross-industry collaboration. At LexisNexis, we’ve broken down internal silos and fostered partnerships with our global counterparts and industry giants and thought leaders to drive new solutions and ways of work. This approach has been critical in driving innovation and also accelerating business growth. This is where solutions like Lexis+ and Lexis+ AI come in.

Innovation: Our focus is always on how we can integrate cutting-edge technology to better serve our customers and this aligns with our business strategy locally and globally.

I encourage employees to think creatively and challenge the status quo. Emerging technologies, such as artificial intelligence, machine learning, or blockchain, and how they can be harnessed to drive further advancements in the legal and regulatory domains, aligns with the LexisNexis’ future vision and presents an exciting opportunity to drive the company’s growth. Flagship products like Lexis+ and CaseLex are an embodiment of our drive to innovate, leveraging the learnings and technologies of our global counterparts to bring world class solutions to the SA Market.

Customer focus: We believe that listening to our customers and understanding their pain points is what drives true success. This means valuing regular engagement with clients to stay connected to their needs. By keeping the customer at the centre of everything we do, we not only ensure that we’re meeting their needs but also that we’re building long-term relationships that contribute to sustainable business growth for them and us.

I encourage this at this at every level of the organisation.

• Passion for winning: This ensures that we are recognised as the industry leader in the markets that we serve and that we are a partner that our customers can rely on.

This year, our contributions to risk and compliance were recognised through numerous accolades. As leaders in

the tech space, we were proud to be named finalists in the Africa Tech Week Awards in the categories of Technology Company of the Year and Innovation of the Year. Another significant achievement was LexisNexis South Africa’s recognition as one of South Africa’s Top 500 Best Managed Companies, ranking among the Top 5 in our business sector and earning official accreditation.

These achievements are incredibly significant for us as they highlight LexisNexis’ commitment to transformation, diversity, and inclusivity, aligning with South Africa’s Broad-Based Black Economic Empowerment (B-BBEE) goals.

This recognition sets the company apart from competitors, showcasing its leadership in driving both business success and positive societal impact. It also strengthens LexisNexis’ reputation as a responsible corporate citizen, committed to ethical practices and long-term empowerment.

We were awarded the Digital Transformation of the Year Award at the 2024 Oliver Top Empowerment Award, also runner up for Diversity and Inclusion. These achievements reflected our leadership in leveraging advanced technologies like AI and big data to transform the legal sector and empowerment in the workplace.

We also received Top Employer certification for the second consecutive year, reflecting our commitment to exceptional employee conditions and a positive work culture. This accolade followed a rigorous assessment by the Top Employers Institute and recognised our dedication to diversity, innovation, and employee empowerment.

ENHANCING THE POTENTIAL OF THE AFRICAN CONTINENT BY ADVANCING THE RULE OF LAW LexisNexis has global reach, but is also invested in South Africa and increasingly in Africa.

The vision of enhancing the potential of the African continent by advancing the rule of law - which results in social and economic change - is something that resonates with me.

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COVER STORY

After a 5-year tenure as CFO of LexisNexis South Africa, it has been my privilege to now be appointed as CEO. I am commercially focused, with a particular interest in maintaining sustainability for our stakeholders - including our employees, our customers as well as regulatory bodies - and contributing to the economy that we are part of, not only through the products that we provide which uplift and promote the rule of law, but also in our social responsibility and our contribution to the economy from a tax perspective.

For us, particularly in South Africa, that means looking to the African continent as a growth path for our products and for the services that we provide. We do this by staying ahead of technology, innovation and capabilities that are rapidly changing and making sure we’re at the forefront of these changes for the benefit of our customers, and by using these tools internally to make ourselves more productive and more effective.

ATTRACTING AND RETAINING THE BEST TALENT We’re very proud that within the LexisNexis group we have been able to source roles in South Africa itself, supporting not just the South African business, but also the global business of LexisNexis - and creating employment in South Africa that didn’t exist before.

We are leading the charge on developing competencies and capabilities in the country, primarily in the technology, customer service and processing spaces where we’ve created just over 300 jobs in the last three years. From a commercial perspective, I believe this speaks to the viability of our company, the viability of the services that we offer, and the great opportunities that South Africa presents for our global counterparts.

WHAT TRULY SETS LEXISNEXIS APART FROM THE REST IS: Innovation: Our unwavering commitment to innovation, customer focus, and delivering solutions that truly make a difference. Our ability to blend expertise with cutting-edge technology enables us to stay ahead of industry trends and

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provide our clients with tools that enhance their efficiency and decision-making.

Our People: Beyond our products, what truly differentiates us is our people. We value our employees’ expertise and passion, and we foster a culture of collaboration and continuous learning.

This allows us to consistently deliver high-quality service to our customers, while also maintaining agility in a rapidly evolving market.

Customer Relations: Our strong customer relationships and deep understanding of their needs also give us a unique edge. We are not just service providers but partners, working alongside our clients to solve real-world challenges.

Our diverse product offerings (that leverage technology, AI and automations to transform the way we deliver value to customers) from legal research to compliance and regulatory solutions, ensure that we are a comprehensive support system for businesses across industries.

Global Reach: Our global reach and boundaryless approach allow us to leverage diverse perspectives and expertise from across the organisation, enabling us to develop comprehensive solutions that cater to the diverse needs of customers worldwide. This global mindset, coupled with our deep local knowledge, ensures that we deliver tailored solutions that resonate with our customers in Africa. Ultimately, it’s our blend of innovation, customer-centricity, and the passion of our people that sets us apart.

LOOKING FORWARD Generative AI is one of the next big steps to which one can look forward with trepidation, but also with excitement, particularly regarding the vast capabilities that will be unlocked.

I look forward to our company playing a role in advancing the African continent, improving its contribution on the world stage, providing through advancing the rule of law - more security, more policy certainty, potentially better investment opportunities into Africa, and really seeing the continent thrive and play its part on the world stage.

COVER STORY

LEXISNEXIS SOUTH AFRICA

LEXISNEXIS SOUTH AFRICA, COMMITTED TO ADVANCING THE RULE OF LAW THROUGH INNOVATION AND TECHNOLOGY

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ince its inception almost nine decades ago, LexisNexis South Africa has been a global leader in legal technology, consistently developing innovative solutions that enable legal professionals, corporations and governments to navigate complex legal and regulatory landscapes. LexisNexis

combines advanced technologies, harnessing the power of AI, to enhance the efficiency, productivity and decision-making capabilities of professionals across a range of industries.

From legal risk tools to research and compliance management systems, LexisNexis offers a

“LexisNexis combines advanced technologies, harnessing the power of AI, to enhance the efficiency, productivity and decision-making capabilities of professionals across a range of industries.”

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diverse suite of products engineered to empower users with the knowledge and tools they need to succeed, covering research, risk and compliance, and workflow solutions.

AI-POWERED RESEARCH SOLUTIONS FOR LEGAL PROFESSIONALS Driven by artificial intelligence and analytics, LexisNexis’ research tools offer solutions which bridge the gap between theory and practice. Designed using global technologies and local insights, Lexis+ is a next-generation legal research platform which combines decades of expertise with cutting-edge AI and machine learning technologies. The platform offers legal professionals access to extensive legal databases, case law, statutes and secondary sources, streamlining and enhancing legal research as well as meeting the demands of the changing legal landscape.

Lexis Practical Guidance is an online resource which provides step-by-step guidance, practice notes, checklists and forms tailored to specific legal areas. Each practice area is tailored to meet the specific needs of its target persona, enabling professionals to enhance their workflow, mitigate risks, and deliver high-quality services.

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Other innovative research resources are the LexisNexis Academic & Professional Print Suite, which offers an extensive collection of legal, tax and finance resources, including textbooks and reference materials. These suites are invaluable resources - curated by experts - for scholars, students and professionals who want to stay up-to-date with the latest developments.

MITIGATING BUSINESS LIABILITIES WITH RISK AND COMPLIANCE SOLUTIONS In today’s increasingly regulated environment, effective governance, risk and compliance (GRC) management is vital for businesses to thrive.

Tailored for corporations, financial institutions and government agencies, Lexis GRC offers tools and resources for policy management, risk assessment, monitoring and reporting.

“Whether you’re a legal professional seeking efficient research solutions or a business striving to manage compliance risks, LexisNexis offers the tools, resources and expertise needed to succeed in today’s past-paced, technology-driven world.”

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This centralised platform enables organisations to maintain robust compliance frameworks, mitigate risks, make more informed decisions to safeguard their operations and improve overall corporate governance.

Third-party risk management is crucial for businesses that rely on vendors and partners.

By offering advanced screening tools and customisable risk assessments, Lexis ProcureCheck enables businesses to mitigate third-party risks and protect their reputation.

Lexis ProcureCheck is a due diligence solution that provides access to an extensive database of public records, allowing organisations to perform thorough background checks.

STREAMLINING OPERATIONS AND ENHANCING EFFICIENCY Property transactions can be time-consuming with little room for errors but Lexis WinDeed and Lexis Convey simplifies and automates the conveyancing process. Designed for conveyancing attorneys, law firms, and property professionals, the solutions offer a centralised platform to manage all aspects of property transfers. From the initial instructions to final registration, these software solutions include advanced features such as document, workflow management, and integration with deeds office systems.

Obtaining rate clearance certificates are necessary step property transactions. Lexis Rates Clearance simplifies the process, ensuring transactions are compliant with local government requirements and helps avoid delays that can arise from missing or delayed rate clearance certificates. For navigating the complex world of estate administration, Lexis Deceased Estates offers a solution designed for attorneys, fiduciary practitioners, and trust companies.

With anti-money laundering (AML) compliance obligations firmly under the regulatory spotlight, Lexis KYC (Know Your Customer) offers organisations a comprehensive customer

onboarding solution which assists in building a trusted customer base. Using advanced screening tools, watchlist monitoring, and customisable risk scoring models, Lexis KYC gives organisations access to a vast database of records, equipping them to mitigate financial crimes and comply with regulations.

Who you work with in your organisation is just as important as who you work with outside of the organisation. Hiring the right employees is crucial to the success of any organisation and Lexis RefCheck helps HR professionals, recruiters and managers to find the right people by simplifying the background screening process by providing access to a database of employment records to verify candidates’ work histories, qualifications, and credentials.

Lexis Sign is another workflow solution which can improve operational efficiency and ensure legal compliance. It offers a secure, user-friendly electronic signature solution for organisations of all sizes, replacing physical document handling and manual signatures with an efficient electronic system.

Whether you’re a legal professional seeking efficient research solutions or a business striving to manage compliance risks, LexisNexis offers the tools, resources and expertise needed to succeed in today’s past-paced, technology-driven world.

FIND FIND OUT OUT MORE MORE Visit: Visit: www.lexisnexis.co.za www.lexisnexis.co.za Book Book aa demo: demo: content@lexisnexis.co.za content@lexisnexis.co.za Shop for Shop for industry industry titles: titles: store.lexisnexis.co.za store.lexisnexis.co.za Facebook Facebook and and Linkedin: Linkedin: LexisNexis LexisNexis South South Af Africa rica X: X: @LexisNexisZA @LexisNexisZA

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LEADING FROM THE FRONT

PUTTING SA INC ON THE MAP

LEADERSHIP

AND THE FOUNDATIONS OF EFFECTIVE LEADERSHIP IN SOUTH AFRICA’S BUSINESS LANDSCAPE

BY PROFESSOR PARMI NATESAN, CEO OF THE INSTITUTE OF DIRECTORS IN SOUTH AFRICA (IODSA)

A

ll eyes will be on South Africa when Johannesburg hosts the G20 Summit in November 2025, and along with it the B20. This influential business forum brings together business leaders from the Group of Twenty countries to assist heads of state in tackling global economic challenges. President Cyril Ramaphosa wants to use this global event to promote local business opportunities and attract foreign direct investment while also strengthening the position of Africa and the Global South – in short, putting SA Inc on the world map.

The B20 campaign kicks off in February 2025, continuing the Global South rotating

presidency from its predecessors Brazil, India and Indonesia, before being handed over to the United States in 2026. For the first time, the presidency is held by an African nation, which makes it all the more crucial to prove to investors that South Africa is a trustworthy partner in shaping the new world economic order.

Fortunately, SA Inc’s preparations for the B20 come at a time when investor confidence is tentatively improving. In the first quarter after the formation of the Government of National Unity (GNU), the RMB/BER Business Confidence Index rose by three points to 38 in Q3 2024, which is the highest since Q4 2022.

In the first quarter after the formation of the Government of National Unity (GNU), the RMB/BER Business Confidence Index rose by three points

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Now is the time for the public and private sectors to commit to strong governance – ensuring transparency, reducing operational risks, and promoting ethical conduct – to transform short-term improvements in investor confidence into long-term economic growth. Good governance is not an isolated compliance matter but a foundational element which fosters trust, resilience, and credibility in business and governments.

It will take time and concerted effort to restore investor confidence after the Zondo Commission’s findings exposed the extent of governance failures and the consequences of unchecked corruption.

South Africa still ranks a disappointing 41 out of 180 countries in Transparency International’s 2023 Corruption Perceptions Index. This is our lowest ever ranking, well below the global average, and again it is linked to governance – more precisely governance failures.

“Corruption has eroded trust in both public and private institutions, deterring investment and stifling growth,” according to Transparency International. In 2024, the global non-government organisation called on the G20 leaders to prioritise anti-corruption measures to achieve their sustainable development goals, as it warns that corruption drains critical resources, impedes responses to health crises, and exacerbates poverty and inequality. Instead of reaffirming their resolve to fight corruption year after year, they must now bring their anti-corruption work out of its current silo and elevate it to the core of the G20 (and B20) summit.

Now is the time for the public and private sectors to commit to strong governance

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Transparency International’s arguments underline the IoDSA’s mission to develop and advance good governance as the basic foundation for SA Inc. South Africans know only too well that corruption can destroy the fabric of society, because government and corporate failures have made people cynical about the political will of our leadership to truly bring malefactors to book. Corruption is the opposite of good corporate governance (i.e. ethical and effective leadership). Curbing corruption is therefore a prerequisite for strengthening investor confidence and attracting FDI. It’s important to understand that corruption is not the same as poor corporate governance: despite being interconnected, they differ fundamentally. Corruption opposes the ethical principles that the King IV Report on Corporate Governance (King IV) advocates; it typically involves private individuals or public officials who act unethically and often illegally for their personal gain. Poor governance is not necessarily intentional as it is frequently a result of negligence, incompetence, or apathy, but similarly opposes King IV. When this manifests itself, for example as a lack of accountability and transparency in governance structures, it can lead to operational inefficiencies, financial instability, and declining economic prospects. These risks can deter investors, who are naturally drawn to environments where governance provides a robust foundation for managing risks and upholding ethical standards.

Therefore, good governance that prioritises ethics and accountability, as outlined in King IV, will create a culture that inherently opposes corruption. Stronger governance standards are paramount for curbing corruption, enhancing investor trust, and positioning South Africa as a credible global business destination.

LEADING FROM THE FRONT

Good governance is not an isolated compliance matter but a foundational element which fosters trust, resilience, and credibility in business and government

But how can good governance be restored?

Crucially, South Africa already has established some strong governance frameworks, notably King IV and the Companies Act, which are both recognised for advocating principles of transparency, ethical leadership, and sustainable practices. However, even the best governance codes rely on effective application to be impactful. Without consistent implementation, these structures lose their potential to uphold accountability and trust in both the private and public sectors.

In the private sector, enhanced accountability mechanisms are needed, particularly around enforcing consequences for governance failures.

Despite the availability of legal frameworks, there have been relatively few court findings of director delinquency, which undermines the culture of accountability in governance. Lack of oversight and accountability can harm investor relations and damage company reputations.

In the public sector, a key area for improvement is ensuring that board members are appointed based on competence and moral compass, rather than political considerations. Such appointments would create an environment focused on performance and accountability, which would reduce the risks of mismanagement while fostering greater public trust. This is particularly important to improve the governance of embattled state-owned-enterprises.

At the local government level, the focus needs to be on the alarming number of municipalities that are struggling with governance. According to the Auditor-General of South Africa Municipal Audit Report for 2022/23, only 34 of 257 municipalities (13%) achieved clean audits, with 20 municipalities deemed “critically dysfunctional”. Implementing stronger governance practices such as accountability measures and skills development, would improve service delivery and rebuild community trust.

Further encouragement comes in the form of South Africa’s robust regulatory environment, forward-thinking governance codes, and commitment to addressing governance challenges, which make us a resilient and appealing market for investment. With the G20 summit in Johannesburg, South Africa has an opportunity to reinforce its commitment to world-class governance standards and a transparent, sustainable business landscape.

By embedding good governance as a core discussion point in both the B20 and G20 in 2025, South Africa can project stability, transparency, and ethical leadership. This is crucial to building confidence among international stakeholders and attracting long-term investment – and to SA Inc claiming its place on the global map. n

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LEADING FROM THE FRONT

THE FINANCIAL RESILIENCE IMPERATIVE AN ESSENTIAL STRATEGY

BY CHIPO MUSHWANA, EXECUTIVE OF EMERGING INNOVATION AND PAYMENTS AT NEDBANK

I

In today’s rapidly evolving landscape, businesses and individuals alike are confronted with persistent challenges and continuous change. The global environment is characterised by economic volatility, geopolitical instability, technological disruptions, and complex social dynamics.

This intricate environment demands strong financial readiness to manage unexpected events and the capacity for quick adaptation.

Consequently, the criticality of financial resilience is paramount for ensuring stability and success in the face of such unpredictability.

Financial resilience has thus transcended beyond being a mere safeguard; it has

become an essential strategy for ensuring long-term financial health, prosperity, and growth. For individuals, this resilience equates to the ability to absorb economic impacts, such as escalating living costs, unforeseen bills, or a sudden loss of income.

For enterprises, it involves the capacity to adjust to evolving market dynamics, effectively navigate risks, and bounce back quickly from setbacks.

The cultivation of financial resilience yields numerous benefits. For individuals, it affords a sense of security, enhanced financial autonomy, and the capacity to remain steadfast in achieving long-term ambitions despite any temporary obstacles.

Financial resilience has thus transcended beyond being a mere safeguard; it has become an essential strategy for ensuring long-term financial health, prosperity, and growth

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Central Centralto tofostering fosteringfinancial financial resilience resilienceisisthe theessential essentialsocial social contract contractbetween betweenfinancial financial institutions institutionsand andtheir theirclientele clientele

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transformative transformativerole roleininbuilding buildingaamore moreresilient resilient financial financialecosystem ecosystemthat thatbenefits benefitseveryone. everyone.

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44.

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presents presentschallenges, challenges,yet yetthrough through dedicated dedicatedeffort, effort,strategic strategicpartnerships, partnerships, and andthe theadoption adoptionofofeffective effectivetools tools and andperspectives, perspectives,ititisisaacritical criticaland and attainable attainableobjective objectivefor forall allSouth SouthAfrican African individuals individualsand andenterprises enterprisestotoprosper prosperinin aadynamic dynamicglobal globallandscape. landscape.

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LOGASHRI SEWNARAIN, CEO, SMEC SOUTH AFRICA CREATING MEANINGFUL, LASTING IMPACT

BY FIONA WAKELIN

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MEC was founded in 1949 to oversee the construction of the Snowy Mountains Hydroelectric Scheme, one of the most complex engineering projects of its time. Over the past 75 years, we have grown into a global consultancy, known for delivering innovative and sustainable solutions across a wide range of sectors. In South Africa, we established our presence through the acquisition of Vela VKE in 2012.

Today, we offer multidisciplinary services across transport, water, energy and urban development, drawing on decades of both local and global expertise. SMEC South Africa works on both local and global projects, collaborating closely with Surbana Jurong and its member companies. This partnership allows us to leverage a wealth of expertise and resources, enabling us to deliver solutions that meet the unique challenges of each project. As a member of the Surbana Jurong Group, we benefit from the collective knowledge and resources of over 16,000 professionals across 49 countries, enhancing our ability to deliver world-class solutions both locally and globally.

Over the past 75 years, we have grown into a global consultancy, known for delivering innovative and sustainable solutions

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The rise of smart cities, the demand for resilient infrastructure and the call for sustainable practices are significantly changing how projects are approached – globally and locally

I provide strategic leadership and direction, ensuring that the business remains at the forefront of engineering and infrastructure development while delivering impactful solutions for our clients. A significant part of my role also involves strengthening client relationships, driving sustainable growth and ensuring that we uphold our commitment to delivering quality, sustainable engineering solutions that align with our broader goals of nation-building and community development.

I am also responsible for guiding SMEC South Africa’s efforts in contributing to the overall goals of the Surbana Jurong Group, ensuring we maintain our leadership position in the industry and our reputation as a trusted partner.

OUR MAJOR PROJECTS We are actively involved in key infrastructure projects that are critical to South Africa’s development, such as the Msikaba and Mtentu Bridge projects, the Huguenot Tunnel Upgrade project, the Polihali Transfer Tunnel, the Wingfield Interchange project and Prieska Power Reserve. We are also working on the National Department of Health’s (NDoH) new Tshilidzini Hospital and the NDoH’s National Health Master Plan. These projects are among our most significant in South Africa, representing the scale and complexity of work we undertake. Alongside these flagship projects, our South African teams are involved in, on average, over 500 projects, both locally and globally, at any given time.

OUTSTANDING GROWTH IN THE LAST FINANCIAL YEAR SMEC South Africa’s growth in the last financial year can be attributed to several factors. Our

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increased collaboration with Surbana Jurong and its member companies has allowed us to expand our involvement in global projects while continuing to strengthen our local capabilities. This has not only broadened our reach but has also enhanced the innovative solutions we deliver to clients. Additionally, our growth is built on strong client relationships, a deep understanding of local market dynamics and a steadfast commitment to consistently delivering high-quality engineering solutions.

The dedication of our team and our focus on operational excellence have been pivotal in driving this growth.

DISRUPTIVE TRENDS Some of the most disruptive trends in the engineering and infrastructure sector include the rapid advancements in digital technology, the increasing focus on sustainability and the shift towards integrated, data-driven solutions. The rise of smart cities, the demand for resilient infrastructure and the call for sustainable practices are significantly changing how projects are approached – globally and locally. We’ve embraced these changes by integrating digital tools like Building Information Modelling (BIM) and advanced data analytics into many of our processes, enabling more efficient project delivery and smarter asset management. As mentioned, we are prioritising sustainability by focusing on environmentally conscious designs and regenerative infrastructure. We’re looking to leverage our relationships with key clients and industry partners to collaborate on regenerative infrastructure research, innovation and thought leadership. We are also actively training our staff to further develop their expertise in this field.

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STRICT ADHERENCE TO ESG PRINCIPLES Our commitment to ESG principles is fundamental to our business strategy and project delivery. We understand that responsible engineering is critical to nationbuilding and creating resilient infrastructure.

Our projects are designed to not only deliver world-class infrastructure but also to support social upliftment and sustainable growth within the communities we serve. We ensure that every project meets the highest environmental and governance standards. This includes reducing our environmental impact, adopting responsible resource management practices and engaging with local stakeholders to ensure that our projects drive both social and economic benefits for the long term. An area that requires more focus is regenerative solutions, which goes beyond sustainability. Regenerative solutions restore and enhance natural and human systems through designs and practices that restore ecosystems, optimise resource use and support communities. Our Group is actively pursuing solutions in this space, exploring methods to integrate regenerative principles across our projects. However, we acknowledge that as an industry, more work is needed to fully embrace and implement regenerative approaches on a broad scale.

MY “WHY” AND MEMORABLE MILESTONES My “why” is rooted in the ability to create meaningful, lasting impact through the work we do. What I enjoy most about my role is knowing that our engineering solutions shape communities, contribute to economic growth and improve lives. At SMEC, we are not just building infrastructure – we are building opportunities, creating connections and

fostering development in ways that matter to the people we serve. Being part of a team that drives positive change motivates me every day, and it’s this sense of purpose that keeps me focused on delivering sustainable and innovative solutions.

The most memorable milestones for me have been seeing our staff, clients and communities thrive through the work that we do. Becoming SMEC South Africa’s first female Functional General Manager in 2018 and then CEO in 2020 were personal highlights, but the real reward has been fostering a culture of excellence and collaboration that drives change. In addition to my role as CEO, I’ve taken on responsibilities within the Surbana Jurong Group, including Operations Director (Transport) and Regional Lead for business lines, which has broadened my perspective and allowed me to contribute on a global scale. Mentoring SMEC’s young professionals has been deeply rewarding – though I am no longer formally mentoring, I jump at every opportunity to provide guidance when it arises.

WHAT’S ON THE HORIZON I’m excited to see how SMEC continues to innovate and grow, particularly in areas such as sustainable, regenerative infrastructure and digital transformation.

I’m looking forward to collaborating with our clients and talented teams, locally and globally, to provide solutions that will not only deliver nation-building infrastructure but also improve the lives of South Africans and the global communities we serve.

Regenerative solutions restore and enhance natural and human systems through designs and practices that restore ecosystems, optimise resource use and support communities

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MARTHINUS VISSER: OUTSURANCE GROUP CEO EXPANDING INTERNATIONALLY

BY FIONA WAKELIN

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UTsurance was started in 1998 by three entrepreneurs, Willem Roos, Howard Aron and Rene Otto inside the Rand Merchant Bank Holdings stable.

It brought a number of innovations to the somewhat stale short term insurance market at the time. These included the OUTbonus, flat excess structures, roadside assistance and covering vehicles for retail value. These addressed many of the common gripes around insurance at the time. It made use of home-grown talent and built all its systems and underwriting capabilities in house. It was able to reach break even after a mere 22 months and continued a strong organic growth trajectory since then as the brand got stronger and more established. Positive word-of-mouth played a key part in the successful building of the brand.

In South Africa the company offers car, home, business and life insurance; in Australia they offer car, home, business and bodily injury insurance; and in Ireland the offering includes car and home insurance.

Positive word-of-mouth played a key part in the successful building of the brand

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Through our successful international expansion, we have also created additional runway for growth, over and above the South African market

OUTsurance Group CEO, Marthinus Visser shares key insights into driving outstanding growth: CREATING A RUNWAY FOR GROWTH We have identified the three key needs of insurance consumers as a competitive price, good service, and trust that your claim will be paid. By focusing our efforts every day to get better at delivering those three elements, we are becoming more and more competitive allowing for strong organic growth. Through our successful international expansion, we have also created additional runway for growth, over and above the South African market. For example, our Australian business, Youi, now accounts for 63% of our Group revenue and it still has significant runway for growth given that the Australian car and home insurance market is more than five times the size of the South African market. Our recent entry into Ireland is creating further runway for organic growth.

SIGNIFICANT TRENDS IN THE INDUSTRY We have observed large scale technological changes enabling omni-channel servicing of clients. These channels now being digital, call center and face-to-face allowing for the level of human intervention to vary according to customer needs. We have also observed a large increase in regulatory complexity increasing the cost of compliance. Furthermore, we observed increased natural peril events putting upward pressure on reinsurance cost and premiums.

Lastly, we observed an increase in competition over the last 25 years.

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SUBSIDIARIES We launched in Australia in 2008 and that business has overtaken our South African business in size. Contrary to many South African businesses that struggle overseas, we have been able to build up a successful business that is now contributing materially to the overall group. It has many things in common with our South African business and we collaborate closely in many areas. We launched in Ireland earlier this year and hope to emulate the success of the Australian business. Importantly it is also a greenfield start-up like our South African and Australian businesses as this allows you to lay the right foundations in terms of people, culture, systems and processes. The only downside is that you have to be patient as it takes a long time to build such a business, but the reward is there if you are successful.

IMPACT OF TECHNOLOGY Technology has made it easier to offer the omni-channel service. It has also enabled more accurate risk pricing as well as improved productivity in many areas. All this supports better delivery of price, service and trust. Mobile phones and large data processing capabilities really enabled step changes in some areas. ************************ HAVE CLIMATE CHANGE AND THE COMMENSURATE EXTREME WEATHER EVENTS AFFECTED YOUR BUSINESS MODEL? Yes, it has had a large impact on the claims cost related to these events causing especially home insurance premiums to escalate faster than CPI inflation. It also required bolstering of resources and digital capabilities to cope with the influx of claims that these events can cause. It also caused reinsurance costs to increase materially.

Understanding flood risk and underwriting for it has become critical. It is such a topical issue and insurance alone can’t solve it. We need collaboration between governments, banks and insurers to tackle this issue to make sure

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that infrastructure is built and maintained to minimise the impact of these events but also that new developments do not take place in high-risk areas.

HOW WOULD YOU DESCRIBE YOUR ROLE IN OUTSURANCE? My primary role is to set the strategy and oversee its successful implementation. As part of this I need to get buy-in from the management teams and boards that it is the best strategy to follow. A key part of my role is also to assemble the best possible team of senior leaders to execute the strategy. Investor relations is also a key part of my role as you have to be accessible and accountable to investors to make sure they are comfortable with the strategy.

What do you enjoy most about what you do?

I really enjoy incremental improvement and how it brings success. The good thing about shortterm insurance is that the feedback loop is quite short and as you implement plans to support the strategy and improve outcomes you can quickly see whether you are successful or not.

WHAT HAVE BEEN YOUR MOST MEMORABLE CHALLENGES AND MILESTONES? The early days in a start-up always present many challenges and the rate of making improvements is incredibly high. The two successful start-ups of OUTsurance in South Africa and Youi in Australia are true milestones.

A key challenge is to preserve that start-up culture even as you get much larger to continue to solve problems quickly and in a pragmatic way. If you do that, the business continues to thrive.

PLEASE SHARE WITH OUR READERS WHAT YOU ARE LOOKING FORWARD TO IN THE COMING YEAR. We are looking forward to ongoing incremental improvements in our offering of price, service and trust. This should continue to support the organic growth in South Africa and Australia. Our OUTsurance face-to-face agents in South Africa is also a very exciting channel allowing customers with more complex needs, like commercial clients and high-net-worth individuals to receive a bespoke face-to-face service from a dedicated OUTsurance agent. Gaining traction in the Ireland market following the successful launch will be critical.

DO YOU HAVE A MESSAGE OF INSPIRATION FOR ASPIRANT ENTREPRENEURS? Yes, if you have a product for which there is a clear need, you have a simple strategy to offer it, you surround yourself with the best possible people to help you execute it, and you have patience and perseverance, you can achieve extraordinary things. The OUTsurance Group has grown from a start-up to a company valued at more than R90 billion, employing more than 7 500 people directly, and many more like our service providers and pointsmen indirectly – all this in just 26 years. In the process it has enabled many people to buy their first cars, first homes and sent their first family members to university. It is also paying billions in tax allowing for the support of many people. As such, successful entrepreneurs can really change the world for the better.

If you have a product for which there is a clear need, you have a simple strategy to offer it, you surround yourself with the best possible people to help you execute it, and you have patience and perseverance, you can achieve extraordinary things

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SUN INTERNATIONAL RESPONSIBLE CSI AND DOING BUSINESS THE RIGHT WAY

BY ANTHONY LEEMING, CEO, SUN INTERNATIONAL

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rom day one, the Sun International approach has always been to do business the right way.

I am a firm believer in socially responsible capitalism. Without economic growth, we are never going to solve the gamut of social challenges we face. At the same time, we need to be responsible in how we go about achieving it, and responsible in ensuring we are giving back.

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The opportunity provided to us as a business comes from our licences, communities, and customers – and this is something we bear in mind in day-to-day operations and is embedded in all our practices.

Sustainability is not a choice. It may be tempting to shoot for short-term gains, but you simply can not put a price on cultivating an environment in which all stakeholders flourish. If you are operating sustainably, you are using fewer resources and if you are looking after communities, you have a more sustainable environment in which to operate. If you are looking after your employees and their wellbeing, you have a more stable, productive, and happier workplace, and this ultimately spills over to the customer.

A POSITIVE LEGACY South Africa has dealt with the gaming industry in the right way. Casinos have had a major impact on job creation, empowerment, and communities in largely impoverished areas and are a massive source of tax revenue. And the impact is much wider than the casino floor – for instance, as our resorts are entertainment hubs, we uplift a huge number of artistic and service providers. Clearly, the licence comes with a responsibility to our patrons.

We spearheaded the national responsible gaming programme 30 years ago and

The energy crisis is our biggest challenge. It is critical that we take the lead alongside other large corporations to find solutions

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If you are looking after your employees and their wellbeing, you have a more stable, productive, and happier workplace, and this ultimately spills over to the customer

continue to contribute to the initiative in the interests of a safer industry. With responsible practices in place, the good casinos have done in this country far outweigh the handful of negatives.

We are able to build on this legacy of positive impact through our CSI and socio-economic development initiatives and other projects.

Annually, we contribute 1% of our net profit after tax) towards socio-economic development across our key focus areas: education, sports, and arts and culture. Our flagship projects include the Arts and Culture Trust Nyoloha Scholarship Programme for 17 to 25-year-old youths to pursue tertiary education in the visual and performance arts and the Ecoschools programme, through which teachers and learners learn how to build environmental resilience in their schools and communities.

As part of our ESG journey, we are committed to reducing our environmental footprint by sending zero waste to landfill and promoting the efficient use of water and electricity. To assist the micro-economies surrounding our properties, we are committed to procuring locally and engaging with black-women-owned businesses. Our human-resources-driven programmes like Christmas Wish and CEO Wish help our employees in times of need and we stand firm as an organisation against genderbased violence through our #NOEXCUSES campaign. Again, we have been doing this for a long, long time because it is a part of our DNA, not because of pressure from environmental groups or B-BBEE requirements.

What I feel most proud of is that when we train people, they often go on to bigger things, whether in or outside the group.

Seeing people grow, such as Wild Coast Sun GM Peter Tshidi, who began his career as a porter at The Palace, is evidence of the success of our talent pipeline and critical to our success.

AN END TO THE ENERGY CRISIS The energy crisis is our biggest challenge. It is critical that we take the lead alongside other large corporations to find solutions, otherwise the entire economy will be in jeopardy. It is imperative that we strive to own as much of our electricity production as possible. We are going to be focusing on renewable energy and explore wheeling arrangements, while we continue to help our communities and create jobs. We have started a pilot solar project at Sun City – the R16-million, 1.4MW solar plant produces enough electricity to power 329 households annually – and are pushing for all our big properties to move to solar power and battery storage to reduce the reliance on diesel.

Ultimately, when it comes to sustainability, we are all in this together. Being environmentally friendly and socially responsible should never be seen as a competitive advantage. We should be learning from best practices and each other.

If we do not put down a marker and stand side by side for the good of our country right now, there is no telling what kind of issues we may face further down the line.

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30 YEARS OF DATATEC ON THE JSE. 30 YEARS OF CREATING VALUE.

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DATATEC CLIENT INTERVIEW

DATATEC RECOGNISED AS SECTOR LEADER AS IT CELEBRATES 30 YEARS ON THE JSE 2024 marks a significant milestone for Datatec, as the global ICT solutions and services group celebrates 30 years of being listed on the Johannesburg Stock Exchange (JSE).

Since listing in 1994, Datatec has grown from a pure South African IT start-up to a globally recognised technology solutions provider of networking, cyber security and cloud services with a presence in over 50 countries across six continents with over 11 000 employees. There has been continuous innovation through internal investments and strategic M&A. Datatec’s milestones and achievements highlight its resiliency, adaptability, and commitment to creating value.

The Group’s divisions provide technology solutions, services and management consulting enabling corporate IT users, channel partners and service providers to gain access to a broad range of advanced technology solutions and professional services in order to implement and maintain secure complex IT networking, cyber security, cloud and data centre infrastructure.

The Group has partnerships with many of the leading vendors in the industry.

WESTCON INTERNATIONAL Global value-added technology provider and specialist distributor of industry-leading, cyber security, network infrastructure, hybrid cloud solutions and channel support services.

• •

Westcon International goes to market under the Westcon and Comstor brands Portfolio of market-leading vendors including AWS, Broadcom, Check Point, Cisco, CrowdStrike, Extreme Networks, F5, Juniper Networks, Palo Alto, Proofpoint, Tenable, and Zscaler

LOGICALIS INTERNATIONAL AND LATIN AMERICA Global IT solutions, digital transformation enabler and cloud managed services provider. Logicalis International and Logicalis Latin America have built strong partnerships with the world’s most respected technology solutions and services vendors including Cisco, HPE, Microsoft, IBM, NetApp, PureStorage, Oracle, Palo Alto, Fortinet and VMware to deploy new technologies, especially in the areas of cloud, security, workplace and connectivity.

• •

Solutions – Connectivity, cloud, digital workplace, security Services – Consulting services, professional services, modern managed services

MASON ADVISORY Mason Advisory, a United Kingdom based award-winning digital and technology consultancy that has an established track record of delivering lasting change for clients across enterprises, government and emergency services.

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DATATEC CLIENT INTERVIEW

DATATEC

30 YEARS OF CREATING VALUE

INTERVIEW WITH DATATEC FOUNDER & CEO, JENS MONTANANA

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rom the personal computing revolution in the 80s to the strides made in quantum computing and AI in the current decade, major shifts in the ICT sector have impacted every sphere of life in the four decades since Jens Montanana founded Datatec. With a footprint in more than 50 countries, Datatec, as Jens explains, enables its clients to gain access to a wide range of “advanced technology inf rastructure solutions and professional services in order to implement and maintain secure complex IT networks accessing cloud or dedicated centre inf rastructures.” Here Jens tells us more about Datatec, explains why the ‘next big thing’ is not always something new, and shares a key bit of advice for large businesses.

What sets Datatec apart f rom the competition?

The Group’s decentralised operating model, extensive geographic footprint, positioning across the ICT value chain and strong vendor and customer relationships combine to create a strategic competitive advantage, allowing for effective global investments in technology while maintaining local capabilities. Intelligent automation also enhances customer and supplier relationships by fostering closer interactions.

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DATATEC CLIENT INTERVIEW

With a global presence and over 11 000 employees, please describe your management model.

Datatec’s business model is decentralised, empowering our divisional management teams to make operational decisions that are best suited to their specific operating needs while adhering to the Group’s strategic operating and financial f ramework to ensure long-term value for all stakeholders.

The model rests on a commitment to upholding the greatest standards of ethics and business conduct, as well as being honest, transparent, and socially responsible corporate citizens.

Datatec has 3 divisions, please tell us about them.

• Westcon International, is a global technology solutions provider and specialist distributor which partners and serves an expansive network of service providers, systems integrators and specialist resellers to deliver top-tier cyber security, network infrastructure, hybrid cloud solutions, and channel support services in strategic partnership with many of the world’s leading technology brands • Logicalis International provides digital transformation and cloud managed services.

It has strong partnerships with leading technology vendors, enabling it to be at the foref ront of deploying new technologies, particularly in cloud, security, workplace, and connectivity across several industry sectors • Logicalis Latin America, like Logicalis International, is an international digital transformation enabler and cloud managed services provider to several industries. It focuses on deploying new technologies in cloud, security, data analytics, generative AI, workplace, and connectivity across South America, Mexico, and the Caribbean What do you foresee as the next “big thing” in tech?

Big things in tech are not necessarily the latest news. Data analytics drove big data, big data fuelled machine learning and machine learning has led to AI. Revolutionary but now basic 2.5G data mobile connectivity went on to create 5G networks and beyond. Micro-processing power has soared more than 1 000 times over the last 10 years. The “what’s next” is generally driven by advances in physics and the ability of technology to help create continually advancing mathematical outcomes that feed itself.

How important is ESG to the Group – and why?

Datatec is deeply rooted in ESG principles and unwavering in its commitment to responsible business practices. We prioritise creating long-term value that drives shared prosperity, recognising it as vital to the success of the business. In FY24, we intensified our efforts to foster inclusivity and deliver meaningful societal impact across all divisions, consistently advancing ESG initiatives on a global scale. These efforts are integral to Datatec’s Responsible Business approach, which takes a comprehensive view of the business—addressing everything f rom reducing our carbon footprint and enhancing sustainability to increasing female representation in our workforce.

How would you describe your leadership style?

Given the size, global presence and maturity of our businesses, it is no longer possible or appropriate for me to manage the Group as a startup or founder.

The transition to professional management teams started over 30 years ago and we have one of the most progressive leadership structures with senior executives empowered and invested in these businesses at various levels. My leadership style is very inclusive through mentoring and guiding and with real-time interactions. It has been a priority for me to foster a coownership culture through various economic incentives over the years with our leaders to ensure maximum accountability and responsibility.

What exciting things are on the horizon for Datatec?

We are excited about the possibilities created by AI which will be a growth driver for hardware and software sales in the next three to five years. The adoption of AI will fuel a new cycle of PC and networking upgrades as companies aim to enhance their systems to accommodate AI technologies. This trend is poised to boost Datatec’s hardware business, as organisations invest in more advanced infrastructure capable of leveraging AI’s capabilities.

The rapid rise of AI in 2023, fuelled by the success of OpenAI’s ChatGPT, has reshaped the tech industry.

We are ready to leverage this momentum by offering AI-driven services and platforms while meeting increased demand for advanced hardware.

Please share a message of inspiration with our readers.

Very often large companies are unable to respond well to disruptions in their environment, but we have learnt to adapt and thrive over many cycles. To do this, you need a philosophy of sustainability which goes beyond short term performance objectives and includes investments in the people and strategies that will make you successful over the long term. n

3rd Floor, Sandown Chambers, Sandown Village Office Park, 81 Maude Street, Sandown, 2196, South Africa PO Box, 76226, Wendywood, 2144, South Africa ir@datatec.com +27 11 233 1000 datatec.com Datatec Limited @DatatecGroup

14TH EDITION | TOP500 | 39

CLIENT INTERVIEW

DEIRDRE MITCHELL

HONEYCOMB BEE RATINGS INTERVIEW WITH HONEYCOMB BEE RATINGS MD, DEIRDRE MITCHELL

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CLIENT INTERVIEW

F

or the fifth year in a row, Honeycomb BEE Ratings has placed first in the Top500 BEE Verification Agency sector. For Managing Director Deirdre Mitchell, there are no words to describe what it means to her and the organisation. “As an employer, striving for excellence is at the heart of everything we do,” says Deirdre.

“I firmly believe that by looking after our team, they will, in turn, look after our clients.

At Honeycomb, we’re deeply committed to retaining both talented staff and loyal clients, and to win this award for five consecutive years is proof that our approach is working. It’s a huge point of pride.”

Here she explains what makes them stand out from the rest of the pack, how the BEE Verification sector has changed and more.

In your opinion, what sets Honeycomb apart from the competition?

Honeycomb stands out in an industry often cluttered with opinions. Instead of getting caught up in the noise, we focus on legislation and how our clients implement it. For us, BEE is about embracing the ‘spirit of the Codes’, and when that spirit is honoured and the substance is there, Honeycomb is satisfied.

We’re not here to penalise our clients – we’re here to partner with them, helping them to achieve a scorecard that truly reflects their BEE efforts. Our success is built on relationships, and we pride ourselves on having retained clients for 12 to 13 years since our inception.

What products and services does the company offer?

As a SANAS-accredited BEE Rating Agency, we provide BEE certificates following the completion of a thorough verification process.

In addition, we’ve established a dedicated department that works closely with large entities and numerous mines, helping vet suppliers and assess potential risks around BEE compliance and ownership structures.

Honeycomb is an interesting name – how does it relate to what you do?

It takes a colony of bees days to build a single honeycomb, symbolising the values of unity,

loyalty, and community - principles that are core to us. It’s a powerful reminder of how collaborative efforts can reap positive results.

As Managing Director, what is your key role?

My primary responsibility is ensuring strict compliance with our accredited Management System. As a SANAS-accredited agency, it’s this system that holds the accreditation, making adherence absolutely crucial, and I am the appointed representative to ensure this.

I manage the audits to ensure we meet client expectations as well as deadlines, whilst still working within the BEE Codes and our Management System.

What do you enjoy most about what you do?

I’m passionate about applying legislation and driving the industry to do the same. In such a volatile industry, a deep understanding of both our accreditation procedures and the BEE Act is a key strength for myself and Honeycomb.

This gives us a distinct edge – we’re unafraid to navigate within the f ramework of the law, and we embrace the challenges we face each day.

You have been with Honeycomb for eight years. Please outline for us the major changes and trends you have seen in the sector over this time Our industry has seen an influx of small agencies, which presents a challenge. Their limited knowledge leads them to take unnecessary risks that often violate legislation. On top of that, they’re undercutting prices, compromising the quality and authenticity of verifications. The irony is that the Measured Entity is ultimately responsible for the score and certificate, and they could face serious consequences as a result.

This is one of my biggest f rustrations right now.

Additionally, there’s been a shift in the skills development element. We’re seeing unqualified ‘fly-by-night’ companies offering training that doesn’t meet the necessary criteria. Skills development is the most critical aspect of BEE, and when done correctly, it has the power to drive real transformation. Our industry desperately needs better quality management and control, and this change must come from the clients themselves. They need to become more educated to avoid these shortcuts.

14TH EDITION | TOP500 | 41

CLIENT INTERVIEW

What have been your most memorable moments and significant challenges?

Placing first in our sector in the Top500 ranks as one of Honeycomb’s greatest achievements.

We take immense pride in retaining our clients, and it’s a proud moment each year when we see clients renew their commitment. Our dedication to becoming the leading force in the mining sector is matched by our enthusiasm when we onboard new mining companies, and this pride extends to the finance and property sectors as well.

Annually, Honeycomb engages in numerous CSI initiatives, and we approach these efforts with both pride and gratitude for what we have.

We also sponsor a pro-cycling team that has triumphed in events like the Cape Cycle Tour and, more recently, the 947. Seeing our name prominently displayed and offering these cyclists opportunities to compete locally and in Europe is a tremendous honour for us.

As an employer, striving for excellence is at the heart of everything we do,” says Deirdre.

What are you looking forward to in the short and medium term at Honeycomb?

We dedicate a significant portion of our year to training junior analysts to become skilled senior analysts. These young graduates undergo comprehensive industry training, fostering their growth while ensuring they embody our work ethic and standards. This approach not only supports their professional development but also strengthens our team with capable and committed employees.

Please share a message of inspiration with our Top500 community My greatest inspiration is my team. I firmly believe that with the right support, progress is inevitable. I’m deeply grateful for my team - they are exceptional and always go above and beyond to assist clients and meet deadlines. Our success stems f rom building a team that embraces our values and ethics, ensuring our clients receive the highest level of service.

Be thankful for those who support you and for the challenges that help you grow!

0118801630 info@honeycomb-bee.co.za For more information visit www.honeycomb-bee.co.za

42 | TOP500 | 14TH EDITION

Verify your company’s B-BBEE level South Africa’s largest independent, nationally-based SANAS accredited verification agency.

Your partner in providing fast, convenient and professional B-BBEE certification services across all 12 sectors, countrywide.

Get a quote  (011) 880 1630 |  info@honeycomb-bee.co.za |  www.honeycomb-bee.co.za 14TH EDITION | TOP500 | 43

ADVERTORIAL VEA

VEA

PARTNERSHIPS THAT BUILD LEGACIES AND EMPOWER COMMUNITIES

A

t VEA Road Maintenance and Civils, roads do more than connect cities — they connect people, create opportunities, and uplift entire communities. The company’s exceptional growth and success are built on invaluable partnerships with key clients like SANRAL, the Department of Roads and Transport, the Western Cape Government, and the KwaZulu-Natal Department of Transport.

Together with these partners, VEA Road Maintenance and Civils has built a reputation for excellence, highlighted by its consecutive Top 5 ranking in South Africa’s Construction Sector for 2024, an honour it also achieved in 2023. Being ranked in the top 5 out of 500 companies reflects the company’s relentless focus on quality, innovation, inclusion, and community impact.

“We’re more than a road construction company,” says Thoko Tshabalala-Shandu, Managing Director. “Our vision is to use infrastructure as a tool for positive change. Without our strong relationships with clients and communities, our ability to make an impact would be limited.”

VEA Road Maintenance and Civils’ partnerships enable the company to execute large-scale projects that not only improve infrastructure but also change lives. From creating jobs to developing skills and supporting local communities, their work goes far beyond the roads they build.

The success of VEA Road Maintenance and Civils is closely tied to their partnerships with key clients such as SANRAL, the Department

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of Roads and Transport, and provincial governments. These collaborations have allowed the company to deliver critical infrastructure projects across South Africa while simultaneously uplifting communities.

One of the most significant collaborations is with SANRAL (South Af rican National Roads Agency), where VEA Road Maintenance and Civils has worked on major projects like the N2, N12, and R23 highways. These projects have not only improved the road network but have also contributed to job creation and skills development within local communities.

“SANRAL’s approach is holistic. They don’t just build roads—they ensure that the communities around the roads benefit too,” explains Thoko.

“This commitment aligns perfectly with our mission to empower communities through infrastructure.”

VEA Road Maintenance and Civils’ work with other esteemed clients such as the Department of Roads and Transport and provincial governments has allowed them to contribute to regional growth by employing local labour and providing training in crucial technical skills.

VEA Road Maintenance and Civils’ dedication to excellence and community upliftment has been recognised with its Top 5 ranking in South Af rica’s Construction Sector for 2024, an honour it has now earned multiple times. This recognition places VEA Road Maintenance and Civils among the best 5 out of 500 companies in the sector, marking two consecutive years of maintaining this prestigious standing.

“Being in the Top 5 is about more than technical expertise or delivering on time,” says Thoko. “It’s about how we approach everything — from the partnerships we build to the way we engage with communities. Our success is deeply rooted in the people we work with — our team, our clients, and the communities we serve.”

This continued recognition is a direct result of VEA Road Maintenance and Civils’ focus on partnerships and community engagement. For example, the collaboration with SANRAL on projects like Operation Vala Zonke, a nationwide pothole-fixing initiative, is a testament to the company’s community-centred approach.

“We’ve been able to create jobs and provide training to local workers, thanks to the support of SANRAL and our other clients,” says Thoko. “Together, we’re building a brighter future for everyone involved.”

VEA Road Maintenance and Civils’ commitment to community upliftment goes beyond infrastructure. Their involvement in initiatives like Mandela Day, where they extended their 67 minutes of service into an entire weekend, delivering supplies to schools and elderly homes, is just one example of their dedication. n

14TH EDITION | TOP500 | 45

ADVERTORIAL VEA

In the South African construction sector, diversity and inclusion are becoming increasingly important. VEA Road Maintenance and Civils is leading the way in this transformation, with a strong focus on gender diversity under the leadership of Thoko Tshabalala-Shandu. The company has created hundreds of opportunities for women in the construction industry, an area traditionally dominated by men.

Contracts Manager Terry-Anne Hart adds, “Our partnerships with SANRAL and provincial governments enable us to promote diversity and inclusion. When organisations share a commitment to empowering underrepresented groups, the results are truly transformative.”

Thanks to partnerships with SANRAL, the Department of Roads and Transport, and other governmental bodies, VEA Road Maintenance and Civils is not only delivering high-quality infrastructure but also empowering women and young people through employment and training opportunities.

This focus on community impact, diversity, and inclusion is one of the main reasons VEA Road Maintenance and Civils consistently ranks in the Top 5. Their ability to deliver exceptional infrastructure while empowering communities sets them apart f rom their competitors.

Georgina, a site agent in VEA Road Maintenance and Civils, shares her perspective on managing over 700 workers and navigating the challenges that come with such a responsibility.

“Our clients have been instrumental in helping us bring more women into the industry,” says Thoko. “We are opening doors that were once closed to women, and that’s something we are very proud of.”

“Managing this many people comes with its challenges, like conflict resolution, labour disputes, and ensuring everyone knows their role,” Georgina explains. “A good manager needs to be solution-oriented. I believe in addressing

Pictured from left to right: Thoko Tshabalala-Shandu (Managing Director), Bernice Brandt (Site Agent), Terry-anne Hart (Contract Manager), Carisha Mughoo (Safety Officer), Georgina Motha (Site Agent).

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“Our roads are more than just infrastructure,” concludes Thoko. “They are bridges to better futures. None of this would be possible without our incredible partners, whose shared commitment to building a better South Africa perfectly alignswith ours.”

issues immediately, then revisiting the cause to prevent it from happening again.”Georgina’s leadership style is built on an open-door policy and team empowerment. “I always encourage my team to suggest solutions, not just report problems. This creates accountability and ensures quicker conflict resolution,” she says.

Her approach ensures that VEA Road Maintenance and Civils not only maintains highquality delivery but also fosters a positive and collaborative work environment.

At VEA Road Maintenance and Civils, we don’t just build roads — we build opportunities.

With the support of partners like SANRAL, the Department of Roads and Transport, and provincial governments, we are creating pathways to brighter futures for communities across South Af rica. n

VEA Road Maintenance & Civils, South Af rica +27 87 160 0318

info@vearoad.co.za For more information visit www.vearoads.co.za

14TH EDITION | TOP500 | 47

CLIENT INTERVIEW MSCT BEE SERVICES

MSCT BEE SERVICES

MAKING SIGNIFICANT CHANGE TOGETHER INTERVIEW WITH MSCT BEE SERVICES MD, STANLEY GRAU

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M

aking change is the objective of the B-BBEE Act and helping organisations ensure they contribute to transformation is what MSCT BEE Services has been doing since it was established in 2011. Under the helm of business partners who have been in the B-BBEE industry since 2009, MSCT (which stands for “making significant changes together”) prides itself on in-depth knowledge and technical understanding, making it one of the leaders in the B-BBEE verification industry. MSCT has widened its service offering to include ESG reporting services too.

objectives are in place. Through knowledge sharing, entities understand the intent of the legislation better and are therefore able to implement impactful and meaningful initiatives that are sustainable and feasible. Understanding that the transformation policy is not a tick-box exercise to achieve compliance, but that the policy is rather a long-term strategy to positive economic change, only then will companies get confidence in the objectives and implement meaningful initiatives. There are so many opportunities in the policy that entities do not see, understand or implement, and as a result creates negativity surrounding the application of the legislation.

For Managing Director Stanley Grau, being named This is what sets us apart from our competitors, one of the Top 500 Best Managed Companies we can educate entities to implement positive in South Africa two years running is a reflection transformation policies with confidence. of the hard work the organisation’s staff put into supporting their clients as they implement Have you noticed interesting trends and their transformation policies, ensuring they are changes in your industry over the last decade? compliant and making a positive contribution Most definitely. The legislative policy and to society. f ramework does get amended f rom time to time and to see how entities embrace these Stanley’s re-election as a board member for changes is very interesting. Those that simply the Association of B-BBEE Professionals (ABP) seek compliance through a tick-box exercise - where he acts as Deputy Chairperson with a struggle with change and in many cases struggle focus on stakeholder engagement and technical to maintain a level of compliance and therefore application - is an example of the service become negative. Those that have embraced the excellence and industry knowledge which has policy, realise that amendments can be difficult taken MSCT to the top in under two decades. to manage, but are not impacted as much due Here Stanley explains what sets them apart f rom to the intent of their initiatives still meeting the competition and how the B-BBEE sector has the original objectives of the BEE Act. These changed over the last decade. are entities with success stories surrounding transformation which not many are exposed to Congratulations on being a Top 500 Best as good news does not lead to profits for those Managed Company. What does this accolade reporting on topics. mean to you, your staff and the organisation?

This accolade reflects the hard work that all the What have been your most notable challenges staff at MSCT put into fulfilling its verification at MSCT BEE Services and how did you obligation to its clients and to acknowledge resolve them? the efforts in ensuring awareness surrounding Consistency in methodologies of the legislative positive transformation policies. It provides MSCT policies and the regulation thereof. Currently with exposure opportunities and to encourage there is no professional body that has been corporates and listed entities to engage with identified and recognised by the policymakers MSCT and to understand what compliance really to assist in the regulation of the objectives. There means surrounding the impact of what the is confusion between the roles of SANAS, the entity does.

BEE Commission and that of the DTIC. All of the aforementioned are providing positive support In your opinion what sets MSCT BEE Services to the industry based on their mandates, but apart from the competition? unfortunately, they do not have the support of MSCT prides itself on the level of technical a professional body to assist in their endeavours. understanding and application to ensure competent verification engagements. We can MSCT has therefore engaged with the identified provide reasonable application and to explain stakeholders as well as sector councils to assist with reason and reference on why compliance in achieving the transformation policies and

14TH EDITION | TOP500 | 49

CLIENT INTERVIEW MSCT BEE SERVICES

In 2023 and 2024, Topco Media identified MSCT as one of the Top 5 in the B-BBEE verification industry and part of the Top 500 Best Managed Companies in South Africa.

the agenda and to encourage the policymakers to identify a professional body such as the Association of B-BBEE Professionals (ABP) to assist in the regulation of B-BBEE Professionals.

This further allows for the level of competence to be improved on by all verification analysts as the technical signatories of the verification agencies would also be deemed to be B-BBEE professionals along with B-BBEE consultants and advisors.

MSCT hosts many in-person workshops across South Africa where we encourage all advisors and consultants to attend along with representatives of companies that manage the B-BBEE or transformation policies. In these sessions we attempt to address complex sections of the legislative framework and to identify the opportunities that exist within the B-BBEE Codes of Good Practice, the challenge still remains to get this message out to a bigger audience and for the professionals to implement long term and sustainable strategies, rather than short-term compliance initiatives that result in little impact or change.

You have been with the company for nearly 12 years – what have been your greatest milestones?

In 2022 I was nominated as a Board Member of the Association of B-BBEE Professionals (ABP) and managed the Technical portfolio as the Technical Director. In 2024 I was re-elected as a Board Member and nominated to be the Deputy Chairperson with the emphasis on stakeholder engagement and technical application.

In 2023 and 2024, Topco Media identified MSCT as one of the Top 5 in the B-BBEE verification industry and part of the Top 500 Best Managed Companies in South Africa. I was nominated and

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named a finalist in the CEO of the Year category at the inaugural Africa Career Summit Awards in 2024. I was also nominated for the Entrepreneur of the Year award at the 2024 Top Empowerment Awards, along with MSCT BEE Services being nominated for the Fast Growth SMME award. I was identified to be part of Topco Media’s 2024 Advisory Board for the event along with being identified as a moderator for the 2024 Nedbank Top Empowerment Conference. In 2024, I was a finalist at the Achievement Alley Awards for a Young Achiever Award and received a Certificate of Excellence for being highly commended for this category.I have also been featured in Top 500, South African Business Integrator and TFM as well as working with the JSE Quarterly and BEE Engaged.

How has technology impacted your business model?

Technological advancements in business are always something that is welcomed. It does come with its challenges, but this is where the leader of a business needs to be innovative and be able to adapt and implement change with a positive impact.

What are you looking forward to in the coming year?

2025 will be another year of change in the B-BBEE legislative f ramework and therefore becomes interesting and challenging, but I look forward to how the policymakers have improved the policy and hopefully we see more of an impact in our communities and further development of SMME’s through ESD initiatives. In addition to this, by now being able to assist entities to align their B-BBEE strategies with their ESG and sustainability objectives, is going to lead into an exciting journey that I cannot wait to be a part of. n

Get a quote www.msctbee.co.za +27 (0)21 852 5646 bbbee@msctbee.co.za

We offer SANAS Accredited B-BBEE Verification Services

Making Significant Changes Together Making Significant Changes Together, (MSCT) is our mission statement. We aim to provide knowledge and guidance throughout all our engagements whilst remaining one of the top rated agencies in the country.

With over a decade’s worth of experience in B-BBEE, MSCT BEE Services takes a client-centric approach towards verification. Contact us today for an obligation free quote.

South Africa’s trusted B-BBEE Rating Agency.

14TH EDITION | TOP500 | 51

MAB CLIENT INTERVIEW

MEET PINAGARE MOGODI MINING AND CONSTRUCTION MOGUL - STEERING MAB TO GREATNESS

BY FIONA WAKELIN

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M

AB Group is a multifaceted company that specialises in mining, general construction, and trucking services. Our commitment to deliver high-quality services without compromise is at the core of our mission.

The name Matsapa-A-Botshelo” encapsulates the tireless efforts we put into reaching our goals and dreams in life. No matter the obstacles, we persevere and keep pushing forward.

MAB CLIENT INTERVIEW

Our suite of products and services includes: Mining services MAB Group offers a comprehensive range of mining services, encompassing exploration, excavation, mineral extraction, processing and exportation of the commodity. We are dedicated to sustainable and responsible mining practices that prioritise safety, environmental conservation, and community engagement.

General construction Our expertise extends to general construction, where we undertake various construction projects, including residential, commercial, industrial and civil works. We have a skilled team capable of handling everything from building design/engineering design and site preparation to construction and project management.

Trucking services M.A.B Group provides reliable and efficient trucking services for the transportation of goods and materials. Our fleet of well-maintained trucks and experienced drivers ensures timely and secure deliveries.

Job creation and community development Beyond our core services, we are deeply committed to addressing the issue of unemployment in South Africa. We view our work as more than just projects; it is about making a positive impact on communities by creating job opportunities, supporting local

14TH EDITION | TOP500 | 53

MAB CLIENT INTERVIEW

Policies Our company is guided by key ESG (Environmental, Social, and Governance) policies that serve as our compass, guiding our actions and decisions, and reflecting our dedication to responsible and ethical business practices.

1 2 3 4

Safety and well-being We prioritise the safety and well-being of our staff members and the communities in which we operate. Their welfare is our top concern.

Fairness and integrity A culture of fairness and integrity is ingrained within our organisation. Nepotism and favouritism have no place among our staff members and executives, ensuring equal opportunities for all.

Social responsibility We believe in giving back to those less fortunate, striving to make a positive impact in the communities we serve. Social responsibility is an integral part of our commitment.

Respect for clients We hold our clients in the highest regard, recognising their importance and the trust they place in us. Their satisfaction is our foremost priority.

Journey, milestones and strategic partnerships It has been a journey signposted with many milestones but some of our flagship projects include: • Construction development projects e.g. the Rama City Human Settlement project.

• Exporting coal; exporting vessels carry between 75,000 and 150,000 tonnes of coal.

Strategic partnerships play a pivotal role in the success of MAB Group. We consider them to be of utmost importance for several key reasons: • Financial strength: Strategic partnerships bring additional financial resources to the table.

In many cases, projects, especially in South Af rica, face funding challenges. Collaborating with strategic partners provides access to capital, enabling us to undertake larger and more ambitious projects that might otherwise be financially out of reach.

• Expertise and resources: Partnerships often come with a wealth of knowledge, expertise, and resources. These assets can be invaluable, particularly in complex industries like mining and construction. Partnering with organizations that have complementary skills and experience enhances our ability to deliver high-quality services efficiently.

• Risk mitigation: By sharing risks and responsibilities with strategic partners, we can better manage and mitigate potential challenges and uncertainties that may arise during project implementation. This risk-sharing approach enhances our project’s chances of success.

• Market expansion: Collaborating with strategic partners can open up new markets and opportunities. It allows us to tap into the networks and customer bases of our partners, thereby expanding our reach and customer base.

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MAB CLIENT INTERVIEW

•

•

Innovation and efficiency: Partnerships often foster innovation and efficiency by bringing together different perspectives and approaches. This can lead to the development of new technologies, processes, and solutions that can benefit our projects and the industry as a whole.

Local and global impact: Strategic partnerships enable us to have a more significant impact on our goal of addressing unemployment and contributing to community development in South Africa. By combining forces with like-minded organizations, we can amplify our efforts and create lasting positive change.

In summary, strategic partnerships are essential to MAB GROUP because they provide the financial, operational, and strategic support needed to achieve our objectives. They help us overcome challenges, drive innovation, and make a meaningful impact not only on our company’s growth but also on the communities and industries we serve in South Af rica.

CSI At MAB Group, our mission goes beyond business success; we are deeply committed to making a positive impact on the communities we serve. Our overarching goal is to address the unemployment rate in South Africa by providing opportunities for skill development and economic empowerment.

One of our key initiatives is our internship and learnership programmes, which are designed to equip individuals with the necessary skills and experience to succeed in the workforce. Through these programmes, we aim to nurture talent, foster growth, and create pathways to meaningful employment.

Additionally, we are dedicated to building strong and resilient communities by giving back and supporting local families. From providing essential resources to promoting education and healthcare initiatives, we strive to uplift and empower individuals and families across the nation.

Our commitment to social responsibility is deeply ingrained in everything we do, and we invite others to join us in sharing this vision for a better South Africa. By working together and investing in the future of our communities, we can create lasting change and build a brighter tomorrow for all.

The future of mining, construction, and logistics in South Africa What excites me most about the future of mining, construction, and logistics in South Africa is the potential brought by the new Government of National Unity (GNU). As a CEO, I’m optimistic that this government will boost the economy, particularly for industries like construction and mining, which are already showing signs of improvement.

Many black entrepreneurs are anxious about the future, but I believe that if you’re doing things right, there’s nothing to fear. The government is addressing issues like the “construction mafia,” who were taking a 30% cut from projects, causing delays and even scaring people away from the industry. They were not only affecting construction but were starting to disrupt mining and logistics as well, hijacking trucks and blocking projects and trucks on the road if they weren’t involved. This led to projects being abandoned and unemployment rising.

Now, with these issues being dealt with, I’m excited about the fairness and opportunities that lie ahead. As long as the government remains just, I believe the future for these industries is bright and full of potential.

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MAB CLIENT INTERVIEW

Leadership style and vision As the Managing Partner at MAB Group, my journey has been marked by both challenges and triumphs. With each obstacle we’ve encountered, we’ve approached it headon, emerging stronger and more resilient than before. It’s crucial to highlight that my role as Managing Partner was not merely bestowed upon me; rather, I was entrusted with this responsibility by our esteemed Board of Investors and Partners. Their recognition of my unique skill set and experiences is a source of immense pride, and I am deeply honoured to lead this exceptional team towards our collective vision.

Throughout my career, one of the most valuable leadership lessons I’ve learned is the importance of patience coupled with a keen appreciation for time management.

While patience allows for thoughtful decision-making and strategic planning, it’s imperative to recognise the value of time and refrain from investing it in endeavours that lack substance. Time, indeed, is a precious commodity, and squandering it on fruitless pursuits can never be regained.

By mastering the delicate balance between patience and time management, I have been able to navigate the complexities of leadership with clarity and purpose. This skill has not only contributed to the growth and success of the MAB Group but has also fostered a culture of efficiency and accountability within our organization. As we continue to chart our course towards excellence, I remain committed to upholding these fundamental principles and leading by example. Together, we embrace challenges, learn from our experiences, and strive for nothing short of excellence in all that we do.

Ultimately, my vision for the next decade is grounded in our unwavering commitment to creating lasting value for our stakeholders, empowering communities, and driving positive

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change on a global scale. I am excited about the journey ahead and look forward to the challenges and opportunities that lie ahead.

Looking forward Looking ahead to the upcoming year, we eagerly anticipate new ventures, strategic partnerships, and the prospect of providing employment to more South Africans, all of which align with our vision of a brighter future.

I firmly believe that by delivering top-tier services and actively engaging with local businesses and communities, we can pave the way for a better future for all. At MAB Group, our dream and mission to transform South Af rica’s unemployment landscape are in perfect harmony with our unwavering commitment to social responsibility, which is interwoven with our pursuit of excellence in the industries we operate in. We extend an invitation to you to join us in sharing this dream and working together toward a brighter South Af rica for everyone. n

Harrogate Park, 1237 Pretorius Street, Hatfield, Pretoria 010 447 3799 info@m-a-b.co.za https://m-a-b.co.za/

LEADERSHIP

DIGITAL TRANSFORMATION CLOSING THE DIGITAL DIVIDE SENTECH ACTING CEO, TEBOGO LESHOPE Sentech, who have partnered with Topco Media for the Africa Tech Week Summit, are on a mission to bring connectivity to all. In the latest Business Unusual Podcast, Sentech’s CEO Tebogo Leshope joins us to discuss their contribution to closing the digital divide. Tebogo explains why investors are flocking to Africa and how homegrown innovation is the key to solving the continent’s challenges.

5 KEY TAKEAWAYS FROM THIS PODCAST: 1

Af rica’s potential for growth is what makes it an attractive region for investment

2 Creativity should be localised - specific to the challenges the continent is facing

3 The development of a country depends on connectivity 4 We are seeing a shift towards economies based on collaboration and leveraging each other’s capabilities

5 There are opportunities for the private sector to contribute to bringing connectivity to all

ABOUT TEBOGO

Tebogo Leshope is currently the Acting Chief Executive Officer (CEO) for SENTECH and has been with the organisation for over 25 years. He has been part of the SENTECH DNA for over two decades and contributed meaningfully towards the evolution of the Broadcasting and Telecommunications sector in South Africa and SADC. Tebogo drove digital transformation in SADC, he served on the SADC DTT Migration helpdesk as a Technological expert between 2013 and 2016 and was later assigned a responsibility to lead the Digital Migration project for South Africa. His contribution to the digital transformation enabled South Africa to release the high demand spectrum.

Tebogo is seasoned Executive Director, qualified in Electrical Engineering, with a Bachelor of Technology from University of Johannesburg, Project Management from UNISA, Master of Business Administration (MBA) from Monash University. He is a registered professional with the Engineering Council of South Africa (ECSA), South African Institute of Electrical Engineers (SAIEE) and the Institute of Directors Southern Africa (IoDSA).

Listen here

14TH EDITION EDITION || TOP500 TOP500 || 57 59 14TH

LEADERSHIP LEADERSHIP

NAVIGATING SOCIAL MEDIA POLICY IN AFRICA NAVIGATING SOCIAL MEDIA POLICY IN AFRICA META’S DUDUETSANG MAKUSE META’S DUDUETSANG MAKUSE In this episode of the Business Unusual Podcast, Sasha de Freitas is joined by Duduetsang Makuse, Public Policy Manager for SADC Duduetsang In this episode of the Business Unusual Podcast, Sashaat deMeta.

Freitas is joined by has a wealth of experience inPolicy mediaManager policy analysis, with background in Duduetsang Makuse, Public for SADC at aMeta.

Duduetsang broadcast journalism, filmmaking and academia. has a wealth of experience in media policy analysis, with a background in broadcast journalism, filmmaking and academia.

Currently a Ford Foundation Global Fellow, an African School of Internet Governance Fellow in 2019 and an alumni the Edward R. Murrow Program Currently a Ford Foundation Global Fellow,ofan African School of Internet for Journalism, Duduetsang was named Guardian’s Top 200 Young Governance Fellow in 2019 and an alumniinofMail the&Edward R. Murrow Program South Africans Duduetsang in 2017. for Journalism, was named in Mail & Guardian’s Top 200 Young South Africans in 2017.

In this podcast Duduetsang delves into navigating the complexities of social media policy inDuduetsang Africa compared to into global standards.

In this podcast delves navigating the complexities of social media policy in Africa compared to global standards.

6 KEY TAKEAWAYS TO LISTEN OUT FOR IN 6 KEYPODCAST: TAKEAWAYS TO LISTEN OUT FOR IN THIS THIS PODCAST: 1 Her “fruit salad” journey of failure and success before Meta 1 joining Her “fruit salad” journey of failure and success before joining Metathe power of your network and knocking on doors 2 Leveraging 3 to translate your personal brand across sectors on doors 2 How Leveraging the power of your network and knocking 3 How to translate your personal brand across 4 Use cases of Meta navigating digital policy insectors Africa 4 Use cases of Meta navigating digital policy in Africa 5 Exploring different use cases of AI impacting Africa 5 Exploring use cases generation of AI impacting Africa 6 Advice for different a hyperconnected 6 Advice for a hyperconnected generation

ABOUT DUDUETSANG ABOUT DUDUETSANG Duduetsang is a Public Policy Manager in the tech-sector, with

experiences Media Policy Analyst inin the digital media landscape.

Duduetsangas is a Public Manager the tech-sector, with She holds a Bachelor of Policy Journalism and Studies degree and a Post experiences as a Media Analyst in Media the digital media landscape.

Graduate Diploma in Media Management from Rhodes University.

She holds a Bachelor of Journalism and Media Studies degree and She a Post completed her MBA at Cardiff University, the UK through Graduate Diploma in(Cum MediaLaude) Management from RhodesinUniversity.

She a Chevening Scholarship inat 2014/15. completed her MBA (CumAward Laude) Cardiff University, in the UK through a Chevening Scholarship Award in 2014/15.

Duduetsang’s background is in broadcasting journalism, filmmaking, academia and background recently, the is civil society sectorjournalism, where her public policy Duduetsang’s in broadcasting filmmaking, work focused on public interest media, media freedom and internet academia and recently, the civil society sector where her public policy universal access other interests lie in the dynamics that exist work focused on issues. public Her interest media, media freedom and internet between the media and the internet a universal communications access issues. Hertechnology, other interests lie in the dynamics that in exist convergent, digital era, especially in the African context. between communications technology, the media and the internet in a convergent, digital era, especially in the African context.

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Listen here Listen here

LEADERSHIP

E-COMMERCE “I BUILT THE ‘AMAZON’ OF ZIMBABWE” KUDAKWASHE MANZANGA, CEO, THE DAILY SALE SHOP

In this Business Unusual Podcast, Sasha de Freitas, Senior Conference Producer at Topco Media is joined by Zimbabwean tech entrepreneur, Kudakwashe Manzanga, the CEO of The Daily Sale Shop, an e-commerce platform offering over 12 million products.

Blending together practical business experience with formal training, Kudakwashe is passionate about contributing to the growth of emerging markets. Here he dives into the unique challenges and opportunities faced by businesses in landlocked countries.

5 KEY TAKEAWAYS FROM THIS PODCAST: 1

Identifying business opportunities in a landlocked environment

2 3 4 5

Leveraging the strengths of the Zimbabwean work ethic Addressing the issue of retail tourism and migration Building successful partnerships with global companies Achieving a healthy work-life balance as a CEO

ABOUT KUDAKWASHE

As CEO of The Daily Sale Shop, a profitable and innovative e-commerce marketplace in Zimbabwe, Kuda has lead the organisation to becoming a market leader, thanks to exclusive agreements with Takealot and FedEx, integrated e-wallet system, and partnerships with microfinance institutions.

With a Bachelor of Commerce degree in Economics and Accounting from Rhodes University and accounting articles with Moore Stephens Cape Town, he has a strong background in finance and entrepreneurship. Kuda is passionate about driving growth and inclusion in emerging markets, especially Zimbabwe, which is a great investment destination with a high literacy rate, internet penetration rate, and remittance inflow.

Listen here

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LEADERSHIP LEADERSHIP

How is the role of a Ch What’s needed to rea Goals? What role can Business Unusual Pod award-winning broad these questions and m of climate finance, the contribute to a green has embraced sustain

6 KEY TAKEAW 1

The changing r measuring fina value creation

2 Concern for the

embedded wit unusual to bus

3 Banks are uniq

solutions, to pla Sustainable De

4 Estimated biod

up by $40-billio could be even h nature as we kn

CLIMATE CLIMATE MATE FINANCE FINANCE ANCE

EMBRACING EMBRACINGSUSTAINABILITY SUSTAINABILITY AINABILITY

CFO CFOOR ORCHIEF CHIEFVALUE VALUEOFFICER? OFFICER? E OFFICER? NEDBANK’SMIKE MIKEDAVIS DAVISON ONMAPPING MAPPING VIS ON NEDBANK’S MAPPING AASUSTAINABLE SUSTAINABLEFUTURE FUTURE URE

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5 The public and

together to com

6 Nedbank has s

balance sheet a by the end of 2

ABOUT MIKE

Mike was appointed a 2020. He previously he Management and has since 2015. He has sig liability management and has worked in fin Nedbank through the his articles at Deloitte risk management.

LEADERSHIP

How is the role of a Chief Financial Officer changing?

What’s needed to reach the Sustainable Development Goals? What role can the financial sector play? In this Business Unusual Podcast, Nedbank’s CFO Mike Davis joins award-winning broadcaster Leanne Manas to answer these questions and more. Mike reflects on the importance of climate finance, the opportunities for banks to contribute to a green future and shares how Nedbank has embraced sustainability.

BIODIVERSITY FINANCE AT A GLANCE

6 KEY TAKEAWAYS FROM THIS PODCAST: 1

$1.15 TRILLION Amount needed by 2030 to restore and preserve biodiversity

$1.8 TRILLION Investment made into energy transition in 2023

The changing role of CFOs - From simply measuring financial metrics to measuring value creation

2 Concern for the environment needs to be

embedded within businesses. From business unusual to business as usual

$942 BILLION Financing gap between current and future needs

3 Banks are uniquely positioned, through funding solutions, to play a leading role in reaching the Sustainable Development Goals

4 Estimated biodiversity financial flows have gone

up by $40-billion in the last three years - the figure could be even higher but more is needed to protect nature as we know it

$173 BILLION Contribution per year by the public sector

5 The public and private sectors need to work

together to come up with funding solutions

6 Nedbank has set a clear target to move 20% of its

balance sheet away f rom high-emission industries by the end of 2025

$35 BILLION Contribution per year by the private sector

ABOUT MIKE

Mike was appointed as chief financial officer of the group on 1 October 2020. He previously held the position of group executive for Balance Sheet Management and has been a member of the Group Executive Committee since 2015. He has significant industrywide experience in finance, asset and liability management, regulatory, treasury, risk and capital management, and has worked in financial services for over 26 years. Before joining Nedbank through the acquisition of BoE Bank Limited, Mike completed his articles at Deloitte, where he specialised in banking, treasury and risk management.

Listen here

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LEADING FROM THE FRONT

CORPORATE LESSONS FROM THE SPRINGBOKS LEADERSHIP

DIVERSITY IS A STRATEGIC ADVANTAGE

BY TOM MARSICANO, CEO OF ‘AND CHANGE’

E

very South African recalls the surge of pride and unity felt when the final whistle heralded the Springboks’ triumphant victory in Paris.

Streets erupted in jubilation, a nation united in a single, resounding voice of support, celebrating not just a win in rugby but a symbol of our collective strength and fortitude.

The Springboks’ consecutive Rugby World Cup victories stand as more than a testament to their prowess on the field; they reflect a journey marked by adaptability, resilience, and strategic foresight, which embodies critical lessons in change management, highly pertinent to South African corporations today. However, it also signals their ability to adapt to changes in the team, the sport, and the environment.

Historically, the Springboks’ evolution, especially regarding racial inclusivity, mirrors the country’s journey towards a more diverse and inclusive society. From a team once symbolic of apartheid, the Springboks have transformed into a beacon of unity, reflecting South Africa’s diverse fabric – a

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strategic shift in culture, identity, and proof that well-managed diversity is indeed powerful.

In the corporate context, this echoes the need for businesses to embrace diversity and inclusivity, not only as a moral imperative but as a strategic advantage. Research has consistently shown that diverse teams are more innovative, effective in problem-solving, and better at anticipating consumer needs and market dynamics shifts.

Integrating diverse individuals into an organisation is a gradual but essential process: hiring people from diverse backgrounds and ensuring they feel equally valued.

A strategic and structured approach to change is paramount here.

A clear vision and specific actions from management can guide successful change management. The Springboks’ comprehensive developmental programmes include the Rugby Education Foundation and long-term development plans for players, coaches, and referees. These

LEADERSHIP

Delving into strategy and leadership, the Springboks’ approach to game planning and execution parallels the strategic agility required in business. For instance, their meticulous analysis of opponents, adapting tactics to match different teams and conditions, is akin to how businesses must analyse market trends, competitor strategies, and internal capabilities.

The ability to perform under pressure, bounce back from defeats and constantly evolve tactics reflects what businesses face in today’s fast-paced, often unpredictable market environment

initiatives demonstrate a long-term view of change, focusing on immediate gains and sustainable development. Effective change management also requires active involvement from leaders, a principle embraced by the Springboks. The team’s leadership’s commitment to fostering a culture of inclusivity and excellence is evident in their strategic objectives and incentive policies for demographic regulation. This approach ensures not just setting targets but actively working towards achieving them.

Leaders must articulate a clear vision for the future, engage employees at all levels, and foster trust and leader collaboration. Here, emotional intelligence becomes a crucial component.

Understanding one’s role, how it relates to others, and the impact of one’s actions on broader organisational goals is vital. This principle is evident in the Springboks’ plans, encompassing a broad spectrum of participation targets and acknowledging the diverse roles within the rugby ecosystem.

The team’s resilience, particularly in high-pressure situations, is another critical takeaway. The ability to perform under pressure, bounce back from defeats and constantly evolve tactics reflects what businesses face in today’s fast-paced, often unpredictable market environment. Studies in change management highlight that changecapable organisations are more likely to sustain performance during turbulent times. This resilience in businesses, much like in sports, is often cultivated through a strong organisational culture that fosters change management, adaptability, development, and a shared sense of purpose.

Another vital aspect is the continuous learning and improvement ethos demonstrated by the Springboks. Their focus on honing skills, embracing innovative training methods, and learning from each performance resonates with the corporate need for continuous improvement. In the business context, in times of change, this translates to investing in building change management competency, embracing innovative technologies, and fostering a caring culture.

As the Springboks have demonstrated, change management is a multifaceted endeavour requiring visionary leadership, a commitment to diversity, and a strategic approach that blends tradition with innovation. Embracing these principles can help businesses navigate the complexities of today’s market, adapt to rapid changes, foster innovation, and build a resilient, high-performing organisation.

In a world where change is the only constant, the Springboks’ journey offers more than just a blueprint for success; it inspires. Their story teaches us that the heart of effective change lies in committed and involved leaders who build the capability to change in their people, structures and processes.

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LEADERSHIP

THE FUTURE OF CSI CREATING SHARED VALUE

BY SETLOGANE MANCHIDI, HEAD OF CSI AT INVESTEC

T

here is certainly more of an appreciation that what is good for the community is also good for business. However, while we are seeing a move towards meaningful corporate social responsibility, corporations still seem to be grappling with the ‘shared value’ concept.

While shared value is by no means a new concept, everyday realities and socio-economic challenges have forced individuals and corporations to re-examine their roles, and this concept, as they seek to engage in far more meaningful solution-driven conversations that not only benefit the business, but broader society.

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LEADERSHIP

While shared value is by no means a new concept, everyday realities and socio-economic challenges have forced individuals and corporations to re-examine their roles

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programmes but the ‘hairy, audacious’ social development goals and objectives. In fact, if we want to truly build active economic participants in South Africa going forward, then responsibility with meaning is needed.

There is no doubt that a more vibrant society is associated with economic growth in production, consumption and exchange, but beyond job creation and broader access, active economic participants also have a high likelihood of remaining invested in the country over time. And isn’t this what we are striving for, to support and protect local economic interests and growth?

Certainly, my view is that a sense of purpose and contribution from individuals and companies alike contributes to a higher degree of fulfilment amongst citizens, which hopefully has a direct impact on disposable income - meaning the ability to put bread on the table in more households - which should contribute towards more stability and more money circulation within communities. This is where the wellbeing of the nation starts.

Of course, moving this needle is not easy. To truly effect change we need to support initiatives that help people, especially our youth, to ultimately be best placed to ‘play’ in the scarce skills areas.

This means far better collaboration between businesses and the tertiary education sector to jointly examine how to produce these muchneeded skills - based on what the country needs rather than mere training and development just for the sake of it.

We also need to find better ways of leveraging information and communication technologies (ICTs) as possible platforms that can enable the economic inclusion opportunities for more and more of our people. Lastly, we cannot overlook the importance of a robust small, medium and micro enterprise (SMME) ecosystem, as with growth in emerging entrepreneurs comes the growth of many others through job creation.

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To truly effect change we need to support initiatives that help people, especially our youth, to ultimately be best placed to ‘play’ in the scarce skills areas

The corporate sector has always known it has a fundamental role to play in this pursuit, but it must now start shifting its thinking towards seeing their efforts as more than just a CSI initiative, and rather start examining purposeled strategy, focused on sustainable impact that becomes ingrained in the business.

While we are hearing more and more rhetoric around the significance of purpose in companies, many of these initiatives continue to be driven more by the need to comply as opposed to making a meaningful difference. Sure, benchmarks and certification are important but can derail companies from putting transformative purposes at the centre of their CSI or company initiatives and where, in fact, all other benefits around compliance and development inevitably accrue many times over for the business.

As such, in my mind, there are several vital factors that need to be considered.

Companies must define the meaningful change that they would like to see, contribute towards this, and ultimately achieve. They then need to be more intentional about championing that defined meaningful change. Such change will not happen by chance unless the business becomes more deliberate in its focus. Whilst ambitious companies also need to be realistic about their sphere of influence and the things they can meaningfully shift for the better, which means they need to engage each other in pursuit of meaningful collaboration. Working in silos means there is only so much you can achieve, but together you can scale and create more impact.

LEADERSHIP

Images: istock.com/monkeybusinessimages

The future of CSI initiatives is headed towards a more social impact driven approach where there is a greater focus on collaboration and positively impacting ecosystems

In fact, having been in this space for over 20 years, the fundamentals are clear: no single entity should, and could, be expected to address the many social ills that exist in society - rather we should be very selective around our CSI ambit; we can’t make a difference if we have not defined upfront the impact we seek to make and understand how that impact will last. And, finally, given the extent of need in our country we must design and push for scalability. However, we must not confuse quantity with scalability – reaching more people does not automatically make an initiative scalable. Some initiatives run the risk of being potentially compromised because of unrealistic pursuits of scalability. Therefore

scalability needs to be clearly defined, carefully considered, and gradually implemented. Quality and depth must be central to any discussion.

We are moving in the right direction in South Africa. However, my sense is that the future of CSI initiatives is headed towards a more social impact driven approach where there is a greater focus on collaboration and positively impacting ecosystems, as opposed to the piecemeal approach. And this is needed if we want to grow our active economic participants locally, shape their futures and tackle the economic growth that is desperately needed.

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LEADERSHIP

LEADERSHIP

THE SHIFT TO A SKILLS-BASED APPROACH

BY MICHAEL GULLAN, CEO OF G&G ADVOCACY

D

o you frequently adjust job descriptions to accommodate changing work? Can you upskill and reskill employees fast enough to grow adjacent skills? Are degrees and experience no longer relevant to your fast-changing business needs? Are good candidates being declined for inadequate work experience? Are employees struggling to find new opportunities beyond their CVs? If you ticked some or all the boxes, read on.

For years, job descriptions have defined how organisations are structured. Structuring an organisation by job titles worked well when businesses changed slowly, and employees were thought of as cogs in the machine. Globally, smart HR teams are focused more on skills, empowering employees to be agile, autonomous and perform beyond their duties.

A 2023 survey by Deloitte showed that less than 20% of business leaders believe work is best structured by job description, and more HR professionals and business leaders are becoming skills-centric. For example, an employee with excellent strategic skills can be deployed to work on client business while also forming part of an internal team tasked with optimising the overall business strategy.

you can harness your existing resources instead of looking for external hires. It also inspires employees to learn and grow.

4

Like all successful business practices, it all starts with a clear strategy. Once you know what you want to achieve, then you match the skills needed to achieve them.

Of course, it’s not that simple. I suggest doing an audit of employee skills, interests, and values to identify skills opportunities and gaps. Once you have a clear view of your employees’ skills and passions, implement the following: •

• • •

Here are the reasons for this “exciting shift” towards a skills approach to structuring and hiring candidates:

1 2

3

Pressure to perform – When employees’ skills match outputs, organisations can increase productivity and employee satisfaction.

Agility and flexibility – To survive rapidly changing market conditions, employees deployed for their skills, not just job descriptions, get results.

Skills and talent gaps – Focusing on the work employees can accomplish based on their skills opens possibilities and mitigates talent gaps as

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Increased diversity – Hiring employees for their skills rather than their experience or network facilitates diversity and a high-performing workforce.

•

Match employees with work, teams, or projects that align with their skills, passions, and preferences.

Assign work based on adjacent skills allowing them opportunities to grow.

Supplement existing skills with extremal hires, and consultants.

Implement a targeted eLearning programme to develop skills.

Trust employees to deliver on outcomes, not just their past credentials and job history.

When you understand the unique portfolio of skills, values, preferences, and interests each employee has to offer, they are empowered to contribute with their existing skills, develop new skills and move on to projects or departments as their growing skills are needed.

People are happiest and productive when their work aligns with who they are and what they care about and when they are continually learning and growing.

ADVERTORIAL ACTOM

ACTOM

ELECTRICAL ENGINEERING EXCELLENCE

A

CTOM is the largest manufacturer, solution provider, repairer, maintainer and distributor of electro-mechanical equipment in Africa, with 33 outlets throughout Sub-Saharan Africa. ACTOM is a level 1 B-BBEE contributor with 51.49% black ownership and 35.73% black woman ownership.

It also holds numerous technology, distribution and value-added reseller agreements with various partners, both locally and internationally.

Due to the in-house engineering skills and close ties with technology partners, ACTOM is able to supply a complete range of high quality, reliable and cost effective products and services, and explores innovative solutions for the benefit of customers.

ACTOM’s offering includes design, manufacturing, supply and service of utility boilers, high voltage equipment, MV switchgear, mini-substations, power transformers, distribution transformers, protection and control solutions, electric motors, DC power solutions, industrial batteries, UPS’s, cable, cable accessories, lamps, lighting equipment, solar water geysers, industrial fans, electrical equipment for open cast mining, rail transportation, railway signalling equipment and turnkey systems motors, generators for excavators, off-highway vehicles, locomotives, drilling and pumping applications, high-, medium-, lowvoltage, flameproof, DC and traction motors, high-speed rotating equipment specialist service provider, offering comprehensive workshop and site services on steam turbines, compressors, pumps, gearboxes, as well as general machining and fabrication, submerged Arc Micro welding as well as new shafts and repair, grinding and micro welding of all types of rotating equipment and other mechanical components.

Additionally, ACTOM is an original equipment manufacturer (OEM) that provides aftermarket repairs and service capabilities which facilitate total life cycle management, electro-mechanical and turnkey solutions as well as system integration and project management of large infrastructure projects.

The company is committed to skills development and continues through various skills development centres and community outreach programmes to promote education. n

ACTOM (Pty) Ltd, HQ Office Park Building B, 2nd Floor, 2 Arbroath Road P.O. Box 13024 Knights, 1413 Tel: (010) 136-0200 www.actom.co.za

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LEADING FROM THE FRONT

LEADERSHIP

GREATER TRANSPARENCYE BUSINESS THROUGH THE ESG LENS

BY TARIRO MUTIZWA, ACMA, CGMA, REGIONAL VICE PRESIDENT – AFRICA, AT AICPA & CIMA

W

ith up to 90% of a company’s value now resting in intangible assets, it seems clear that we can no longer manage businesses the ways we managed them in the past. In an ever-changing and complex business environment, we can no longer solely focus on financial data to assess business performance, drive long-term strategies, and generate sustainable value.

As a consequence, corporate reporting itself is changing. We are seeing companies move from strictly financial reporting to a more integrated approach, which includes an organisation’s non-financial information such as its ESG data. A study from AICPA & CIMA in partnership with the International Federation of Accountants found that 95% of companies reviewed report some level of sustainability information.

Groups, such as customers, workforce, society, governments, and investors, all demand greater organisational transparency beyond the traditional financial metrics. ESG is fast

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becoming the lens through which an organisation is judged. Being able to clearly and effectively share this information will help organisations grow their resilience and strengthen their reputation by demonstrating their commitment to ESG priorities: ENHANCING TRUST As with everything in business, if something is to be managed it must be measured and businesses can’t build trust with their stakeholders unless they provide consistent, comparable information on a variety of metrics, including ESG metrics.

A willingness to engage with ESG matters in corporate reporting improves stakeholder engagement and shows investors that the company is forward-thinking and aligned with strong, unified, and global reporting standards supporting consistent and transparent reporting, such as the IFRS S1, General Requirements for Disclosure of Sustainability-related Financial Information, and IFRS S2, Climate-related Disclosure standards, which will come into force in January 2024.

LEADERSHIP

LONG-TERM SUSTAINABILITY While many still believe that sustainable growth requires financial trade-offs, research shows that this is not always the case. A recent analysis from McKinsey indicates that financially successful businesses that integrate ESG priorities into their business strategy to drive long-term value creation outperform their peers, provided they also outperform on the fundamentals when it comes to profit and growth. Investors are also showing greater interests in ESG and sustainable business practices for evaluating businesses as it correlates with higher returns, lower risks, and long-term business success.

EMPLOYEE RETENTION AND ATTRACTING THE NEXT WAVE OF TALENT By increasing their focus on ESG, businesses can also attract and retain a diverse pool of talent.

This is especially true for the younger generations who want to work for organisations that share their vision, values, and purpose and that have a positive impact on society as a whole. In fact, more than 40% of Gen Z and millennials would switch jobs over climate concerns, highlighting the growing importance of having a clear ESG strategy with measurable actions in place. In addition, data shows that a greater focus on diversity and inclusion helps businesses perform better. A recent BlackRock study showed that companies with more gender-balanced workforces tended to outperform their country and industry peers by as much as 1.6% percentage point (29%) on average per year over the 2013-2022 period.

ACCOUNTING AND FINANCE PROFESSIONALS PLAY A CRUCIAL ROLE The accounting and finance profession has long focused on assessing and managing financial risks. However, the global risks we are seeing today are pushing our profession to expand its remit.

As core members of almost every business and non-governmental organisation, accounting and finance professionals have a pivotal role in providing non-financial and financial management information to drive business

ESG matters are now increasingly at the top of people’s minds, that means they are central to business strategy

performance, develop strategies, and influence decision-making. They own the processes, systems, data, management information, reporting, and assurance that will support their organisations’ transitions to sustainable businesses.

They bring a unique set of skills and knowledge to the table and can work with stakeholders to integrate responsible and sustainable practices into their business and operating models.

Without the rigour and business acumen of finance and accounting professionals, it may prove impossible to truly embed sustainability into “business as usual”. The profession’s very nature makes it a powerful force for supporting and implementing strategies and programmes aligned to organisational goals and assuring this information and the systems.

Businesses are being called upon to look beyond profit maximisation and demonstrate their accountability to people and the planet as well as generating revenues. If businesses want to thrive in an ever-evolving environment, they need to incorporate a wide range of capitals, notably environmental and social capital, into their strategy and operations, creating value for all stakeholders, not just a few. ESG matters are now increasingly at the top of people’s minds, that means they are central to business strategy.

ESG reporting is no longer a nice-to-have, it is a must-have.

Sources: Ocean Tomo Intangible Asset Market Value Study | McKinsey | Deloitte | 2024 Gen Z and Millennial Survey | BlackRock Lifting Financial Performance by Investing in Women Report

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Our products and people make a difference in the everyday lives of our consumers.

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PREMIER GROUP ADVERTORIAL

PREMIER GROUP CELEBRATES 200 YEARS PREMIER GROUP

FROM THE CEO’S DESK

P

remier heads into its third century with extraordinary people and world class facilities making a difference in the everyday lives of its consumers. This year we celebrate our 200th anniversary. It’s a proud moment for us. It’s also our first full set of results since we’ve listed and we’re proud to present what we’ve achieved.

ESG is not just something we talk about, it’s a major part of our go-to-market strategies. We’re proud to have been able to create the impact we’ve created in the communities in which we operate.

We’ve invested significantly into our top 400 leaders who are all working together with a common purpose. This is a major factor in our ability to unlock the value we continue to create for our people, communities and shareholders.

Our strategic focus on operational efficiencies, margin management, and upskilling our team has been key to our success.

It takes time to execute on a strategy that requires a significant investment in capability, brands and people.

Kobus Gertenbach - CEO

Our strategic focus on operational efficiencies, margin management, and upskilling our team has been key to our success.

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ADVERTORIAL PREMIER GROUP

Our 200-year history Premier celebrates its 200-year history dating back to a bakery started by AD Taylor on 1 July 1824 which subsequently became the well-known Attwell Bakery in 1825.

Of the current brands in our portfolio, BB Bakeries is the oldest and was registered in 1851.

The second oldest brand in the portfolio is Snowflake which was registered in 1884 by the Port Elizabeth Steam Mill Company.

Attwell Bakery then merged with the Port Elizabeth Steam Mill Company to form SA Milling and the growth story began to gain momentum.

In 2011, a strategic transformation journey began when Brait SA became the strategic long-term shareholder in Premier Foods, which later became known as

Premier FMCG. In March 2023, Premier Group re-listed on the JSE (PMR).

Today, Premier operates 13 bakeries, 3 maize mills, 7 wheat mills, 2 sugar confectionery plants, a feminine hygiene manufacturing facility, as well as manufacturing facilities for biscuits, pasta, animal feeds and maize-based beverages.

Premier services the market via 26 distribution depots throughout South Africa, Eswatini, Lesotho and Mozambique. Premier exports its brands to the USA, Australia, New Zealand, UK, Ireland, Middle East, several European countries and the SADC. The group has an annual turnover of R18.6-billion and employs more than 8 600 people, under the stewardship of Kobus Gertenbach, CEO. Kobus was appointed CEO in March 2021 after joining Premier as CFO in March 2011. At the heart of Premier’s success has been

a sustained investment in our strategic assets. Since 2011, over R6-billion has been invested in capital expenditure projects to ensure that our operations are leading edge in terms of technology, have sufficient capacity to meet demand, and are compliant with the regulatory and health and safety requirements. The majority of our sites have FSSC 22000 accreditation, as well as other accreditations including BRC AA for HPC, amongst others.

Our unwavering commitment to our purpose enables us to empower our people and our communities.

Investing in education and nurturing the next generation of leaders is ingrained in our values supporting our philosophy of “Growing together”.

In the past 10 years we have achieved the following: 77 000 of our people have been trained across a variety of programmes equating to R179-million investment in our people.

Our Enterprise Supplier Development programme has empowered 78 entrepreneurs through skills training and ownership in bakery logistics.

94 CEO bursaries have been awarded to children of employees and 277 employees have benefited f rom our study assistance programme, equating to R10-million investment in our people and their children.

275 disabled youths have been empowered through a learnership programme and 576 youths have been empowered through different apprentice, intern and graduate programmes across the business.

Our focus in 2024 is to achieve accreditation for our own Technical Development Centre to train critical and scarce technical skills via apprenticeships.

Premier achieved a Level 4 B-BBEE rating in 2023, an improvement f rom Level 5 in 2022 and was unrated prior to that. In 2023, Premier was certified as a Top Gender Empowered company and in 2024 attained the #1 position in the Food Processing sector within the Top 500 Best Managed Companies rankings.

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Our brands and products have stood the test of time. Innovation has kept our brands relevant to our consumers. We continue to invest in best-in-class execution through uncompromising standards of quality. We have cultivated a high performance culture, challenging our people to be the best version of themselves, constantly evolving our focus on initiatives and actions that move the dial and cull wasteful endeavours. In a nutshell, it is the Premier Way. Our commitment to our purpose extends to ensuring products are always within reach of our loyal consumers.

Premier has delivered another set of robust financial results for the year ended 31 March 2024.

Highlights include: • Revenue up 3.6% to R18.6-billion • EBITDA up 18.6% to R2.1-billion • Operating profit increased by 26.4% to R1.6-billion • Net profit rose by 15.8% to R921-million • Normalised HEPS increased by 34.8% to 744 cents According to CEO Kobus Gertenbach, “it takes time to execute on a strategy that requires a

significant investment in capability, brands and people”. In the four-year period through COVID-19 and global inflation, Premier has delivered a stellar performance.

• Revenue compound annual growth of 14% f rom R11.0-billion to R18.6-billion • Operating Profit compound annual growth of 27%, up f rom R0.6-billion to R1.6-billion • Continued investment in our assets with R2.1-billion capex over the past 4 years • Group leverage ratio improvement f rom 2.4x to 0.9x

Building 5, Maxwell Office Park, Magwa Crescent West, Waterfall City, 2090 +27 (0) 11 565 4300 customercare@premierfmcg.com premierfmcg.com Premier FMCG (Pty) Ltd

14TH EDITION | TOP500 | 79

TRAC MAKING A

DIFFERENCE A KILOMETRE AT A TIME Trans African Concessions (TRAC) manages the TRAC N4 Route from the Solomon Mahlangu off-ramp in Tshwane, Gauteng, to the Maputo Port in Mozambique. This 570km-long toll road is a A KILOMETRE AT the A TIME build, DIFFERENCE operate and transfer (BOT) and is also only international toll concession in Southern Africa.

Concessions (TRAC) the TRAC N4 Route TRAC Trans has aAfrican 30-year concession withmanages the South African and from the Solomon Mahlangu off-ramp in Tshwane, Gauteng, Mozambican national roads agencies – SANRAL and ANEto the Maputo Port in Mozambique. This 570km-long toll road is a respectively – which was signed in 1997. As the concessionaire build, operate and transfer (BOT) and is also the only of the TRAC N4 Route (aka Maputo Corridor), TRAC has to international toll concession in Southern Africa. develop, rehabilitate and concession maintain the to world-class TRAC has a 30-year withroad the South African and standards so to further stimulate and–investment in the Mozambican national roads trade agencies SANRAL and ANE regionsrespectively it serves– which – namely, Gauteng, Mpumalanga and was signed in 1997. As the concessionaire of the TRAC N4 Route (aka Maputo Corridor), TRAC has to Mozambique.

This is develop, made possible through generated toll fees rehabilitate and funds maintain the roadfrom to world-class standards so to and further trade that and TRAC investment in the from the six mainline fourstimulate ramp plazas manages regions along it serves – namely, Gauteng, Mpumalanga and and operates the route.

They are: Mozambique.

This is made possible through funds generated from toll fees SOUTH AFRICA MOZAMBIQUE from the six mainline and four rampMainline plazas that TRAC manages Mainline Plazas Plazas andHill operates are: Diamond Plaza along the route. TheyMoamba Plaza Middelburg Plaza Maputo Plaza SOUTH MOZAMBIQUE Machado PlazaAFRICA Mainline Mainline Plazas Nkomazi Plaza Plazas Diamond Hill Plaza Middelburg Plaza Ramp Plazas Machado Plaza Ekandustria Ramp Plaza Nkomazi Plaza C

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CM

MY

CY

CMY

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Moamba Plaza Maputo Plaza

Valtaki Ramp Plaza Cullinan Ramp Plaza Ramp Plazas Donkerhoek RampRamp PlazaPlaza Ekandustria Valtaki Ramp Plaza

Cullinan Ramp Plaza expansion and rehabilitation of the Continuous maintenance, MaputoDonkerhoek Corridor Ramp will Plaza result in the South African and Mozambican governments (the legal owners the road), will Continuous maintenance, expansion andofrehabilitation ofbe the given Maputo back an Corridor essentially at South the end of the will ‘new result road’ in the African and concession in 2028.governments The TRAC (the N4 legal Route has been designed Mozambican owners of the road), willtobe world class a focus‘new on safety, convenience, given standards back an with essentially road’ at the end ofand the concession in 2028.

Thesignage, TRAC N4road Routesurface has beenand designed ease of travel. The route roadto world standards withquality a focusto onensure safety, convenience, and markings areclass of the highest motorists can ease peace of travel.

The route signage, road surface and road travel with of mind. markings are of the highest quality to ensure motorists can travel with peace of mind.

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80 | TOP500@TRACN4 | 14TH EDITION / TRACN4Route

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improve road safety at prominent accident spots, working together with law enforcement authorities, emergency services and other stakeholders.

Safety is one of TRAC’s priorities and for this reason, we put immense effort into ensuring a safe road for all our road users.

TRAC believes beingclosely proactive conducts We monitor ourin road and and take therefore corrective also action to daily route patrols.

These are handled by TRAC’s road patrol improve road safety at prominent accident spots, working and emergency response units, aptly called TRACAssist. together with law enforcement authorities, emergency These servicesunits, together the TRAC 24-hour Helpdesk, are available and other with stakeholders.

24/7/365 to assist road users with emergencies, incidents, or TRAC believes in being and therefore also conducts queries throughout the proactive Maputo Corridor. daily route patrols. These are handled by TRAC’s road patrol and emergency These units, TRAC has response come a units, long aptly way called sinceTRACAssist. its inception and, as the together with the TRAC 24-hour Helpdesk, are available concessionaire responsible for the N4 Maputo Development 24/7/365 to assist road users with emergencies, incidents, or Corridor, it focuses its efforts on communities, towns and queries throughout the Maputo Corridor.

organisations along the route. TRAC’s support of these entities isTRAC led byhas its corporate social (CSI) department, which come a long wayinvestment since its inception and, as the concessionaire the N4 Maputo Development focuses on responsible six core for upliftment portfolios, namely Corridor, it focuses its efforts road on communities, towns and socio-economic development, safety, environment, health organisations the route. of these entities and welfare, along education and TRAC’s sports support and culture.

Given all the is led by its corporate (CSI)the department, social challenges in social the investment country and world, which improving focuses lives on by sixinvesting core upliftment portfolios, namely people’s in capital projects and the people socio-economic development, road safety, environment, health themselves must take precedence over most things. and welfare, education and sports and culture. Given all the

social challenges in the country and the improving Developing an impactful CSI strategy andworld, approach, with real people’s lives by investing in capital projects and the people potential to change people’s lives for the better, is critical to themselves must take precedence over most things.

TRAC’s CSI success. As a company, we know that success in CSI relates directly to goodCSIcorporate citizenship, Developing an impactful strategy and approach, and with for real this potentialwe to encourage change people’s lives for thetobetter, is critical to and reason, our employees adhere to moral TRAC’s CSI success.inAs their a company, we know thatas success CSI ethical practises everyday lives this in positively relates directly to good corporate influences the quality of the projectscitizenship, they are aand partfor of. this reason, we encourage our employees to adhere to moral and

ethical supporting practises in role theirtoeveryday lives as this TRAC’s the communities alongpositively the 570km influences the quality of and the projects theyover are athe part of. One of its route has been praised accoladed years. most recent awards is the prestigious 2022 KLCBT President’s TRAC’s supporting role to the communities along the 570km Award which presented to the company theof Kruger route has beenwas praised and accoladed over the years.by One its Lowveld Chamber and Tourism in Mpumalanga. most recent awardsofis Business the prestigious 2022 KLCBT President’s Award which was presented to the company by the Kruger

“TRAC proud of ofBusiness the pivotal role itin plays in supporting LowveldisChamber and Tourism Mpumalanga. community development,” says TRAC’s CSI executive manager “TRAC is proud the so, pivotal it plays in supporting Adri Fourie.

“By of doing we role not only make an immediate community development,” says TRAC’s CSI executive managerfor a difference in people’s lives, we also lay the foundation Adri Fourie.

“By doing so, we not only make an immediate better future,” ,” she adds. difference in people’s lives, we also lay the foundation for a better future,” ,” she adds.

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14TH EDITION | TOP500 | 81

ADVERTORIAL WSP

WSP

WSP GROUP AFRICA CREATIVE, COMPREHENSIVE AND SUSTAINABLE ENGINEERING SOLUTIONS

Who we are WSP is one of the world’s leading professional services consulting firms. We are dedicated to our local communities and propelled by international brainpower. We are technical experts and strategic advisors including engineers, technicians, scientists, architects, planners, surveyors and environmental specialists, as well as other design, programme and construction management professionals. We design lasting solutions in the Transportation & Infrastructure, Property & Buildings, Earth & Environment, Power & Energy, Resources and Industry sectors, as well as offering strategic advisory services. Our talented people around the globe engineer projects that will help societies grow for lifetimes to come.

WSP’s 73 300 global experts include advisors, engineers, environmental specialists, scientists and technicians, in addition to other design and programme management professionals.

Our talented people are well positioned to deliver successful and sustainable projects, wherever our clients need us.

Today, we are boldly redefining the role of a professional consulting firm. We are applying our state-of-the-art expertise and the collective ingenuity of our people in order to imagine and create Future Ready® places for clients and communities, locally and across the globe.

In Af rica, we have more than 6OO engineers, technicians, scientists, as well as earth and environmental experts that provide services to transform the built environment and restore the natural environment.

Operating from South Af rica and into Africa, our specialist skills backed by a global reach make us the service provider of choice – whatever the challenge might be. We are a level 1 B-BBEE company with 51% black woman ownership. n

Building 1 Maxwell Office Park Magwa Crescent West Waterfall City Midrand 011 361 1300 za.marketing@wsp.com

Paul Grota - Managing Director

Wsp Group Africa

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For more information visit www.wsp.com

A global logistics and mobility group www.supergroup.co.za

14TH EDITION | TOP500 | 83

SANLAM CLIENT INTERVIEW

Sanlam

EMPOWERING GENERATIONS PAUL HANRATTY, SANLAM GROUP CEO “Investing in our people and creating a supportive and inclusive work environment allows us to continue attracting, retaining and developing top talent, driving business success and achieving our purpose,” says Paul Hanratty, Sanlam’s Group’s Chief Executive Officer, reflecting on Sanlam being ranked in the top five for the Life Insurance sector in the Top500. With a comprehensive range of financial services solutions, Sanlam is the largest non-banking financial services group on the continent, leading the market in life insurance, general insurance and investment management in South Af rica.

“Dedication to our purpose sets us apart from the competition - we empower generations to lead a life of financial confidence,” explains Paul. With the economic growth challenges the continent is facing, Sanlam is using its influence as one of the largest investors in Af rica to stimulate more growth and drive economic inclusion.

Congratulations on being in the top 5 ranking of the Top500 Life Insurance sector.

What does this achievement mean to Sanlam?

PAUL HANRATTY SANLAM GROUP CEO

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This achievement highlights Sanlam’s dedication to building excellence and creating a rewarding and supportive work environment where employees can thrive. Investing in our people and

creating a supportive and inclusive work environment allows us to continue attracting, retaining and developing top talent, driving business success and achieving our purpose.

What products and services does Sanlam offer?

We provide a comprehensive range of financial services solutions that promote financial inclusion and enable wealth creation and protection.

Our financial solutions include: • Life and general insurance • Asset and wealth management • Corporate benefits • Retail credit • Health care • Financial planning and advice • Loyalty and rewards

In your opinion, what sets Sanlam apart from the competition?

Dedication to our purpose sets us apart f rom the competition – we empower generations to lead a life of financial confidence. Dedication to our purpose has allowed us to work with like-minded partners, and to ensure that we continuously innovate to put the client at the centre of everything we do. We empower our employees to execute on their mission and purpose, and this helps us to attract and grow the very best people.

SANLAM CLIENT INTERVIEW

Shared Services call centre. Intermediary ease of business has also improved, helping onboard clients and set goals more efficiently.

Investing in our people and creating a supportive and inclusive work environment allows us to continue attracting, retaining and developing top talent, driving business success and achieving our purpose.

What do you see as the major challenges facing your industry and what remedies does Sanlam have for these hurdles?

Our biggest challenges are economic growth in Africa and finding ways to bring all parts of the population into the formal financial services world.

We try to play a role in stimulating economic growth through our investment processes, being one of the largest investors on the African continent. We also seek to use partnerships and technology in the digital and media space to reach previously excluded sections of society.

What have been some of your most significant moments in your current role?

Every day at Sanlam brings an opportunity for learning and I find engagement with brilliant and driven people to be the greatest reward of working at Sanlam!

What is on the horizon that you are looking forward to?

Sanlam is transforming the world of financial services for the mass market – we already have a strong presence in the affluent market but have a passion to empower our stakeholders to lead a life of confidence, where they fully participate in the financial services world and can secure their finances through all circumstances, for today and tomorrow.

Please share a message of inspiration for our readers Sanlam is transforming lives – those of the people who work in Sanlam and our clients. We are always open to partnering with and sharing our journey with other like-minded people. n

How has technology impacted your business model?

The digital revolution in the financial services sector, which was accelerated by the COVID-19 pandemic, has transformed how financial firms engage, service and build deeper relationships with clients. In essence, digital technologies have the potential to fundamentally change business models in this sector.

Modernising technology and automating processes has led to improved efficiencies, cost savings, and enhanced client and intermediary experiences.

Client self-service options and automation have advanced, with calls authenticated using AI in the

2 Strand Road, Bellville, 7530, Western Cape PO Box 1, Sanlamhof, 7532, Western Cape 0860 726 526 sanlam.com Sanlam Sanlam @Sanlam

14TH EDITION | TOP500 | 85

ADVERTORIAL BARLOWORLD

BARLOWORLD

TOP 500 BEST MANAGED COMPANY A MILESTONE OF EXCELLENCE AND COLLECTIVE SUCCESS

B

arloworld has been recognised as the number 1 ranked company in the Industrial Products & Equipment sector in the 2024 edition of the Top 500 Best Managed Companies publication. This prestigious accolade stands as a testament to Barloworld’s dedication to operational excellence, strategic foresight, and resilience within the ever-evolving industrial sector. This recognition represents not only an organisational milestone but also highlights the collective efforts of Barloworld’s employees.

The significance of the Top 500 ranking This ranking goes beyond mere recognition, shaping the broader business landscape by setting standards for sustainability, leadership, and innovation. This accolade underscores the importance of dedicated leadership, continuous improvement, and impactful business practices in South Africa’s industrial sector.

For Barloworld, the Top 500 represents both a valuable acknowledgment and a reminder of the company’s ongoing commitment to driving progress, building resilience, and enhancing the industry’s reputation.

What distinguishes Barloworld Barloworld’s success stems from a blend of forward-thinking leadership, a commitment to sustainability, and an unyielding focus on innovation and adaptability. These qualities have set Barloworld apart in the industrial sector, promoting not only business growth but also meaningful contributions to society.

Sustainability is central to Barloworld’s ethos.

For years, Barloworld has embedded sustainable practices across its operations, recognising that long-term success is intertwined with

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environmental stewardship and social responsibility. The company has actively worked to reduce its carbon footprint, enhance resource efficiency, and invest in renewable energy projects. These initiatives illustrate Barloworld’s commitment to creating a lasting, positive impact on communities and the environment, ensuring that future generations can thrive alongside the business.

In a rapidly changing industrial landscape, innovation and adaptability have been vital. New technologies have continuously been embraced to streamline processes, improve service offerings, and remain responsive to clients’ needs. This proactive approach has enabled the company to stay ahead of market shifts, maintaining its position as a leader in the sector. By anticipating industry changes, Barloworld has managed to remain agile and effectively navigate complex challenges. Perhaps the most integral aspect of Barloworld’s success is its people. The company is deeply invested in the growth and empowerment of its workforce, fostering a culture that champions leadership, innovation, and teamwork at all levels. Every member of the Barloworld family, f rom executives to f rontline employees, contributes to the company’s success.

This people-focused approach has created a collaborative and inspiring environment, driving the company forward in a way that is both meaningful and sustainable.

Influencing the Industrial Sector Barloworld’s achievement is not only a reflection of individual success but also a broader contribution to the industrial sector in South Africa. As a market leader, Barloworld recognises its role in shaping the industry’s future and

bolstering the national economy. Through strategic partnerships and initiatives, Barloworld seeks to exemplify responsible and forwardthinking leadership.

An important part of Barloworld’s vision is its commitment to skills development and training, particularly within engineering and technical fields. This investment addresses critical skills gaps and creates avenues for economic empowerment and community upliftment. By nurturing local talent, the industrial sector is strengthened, helping build a more competitive and resilient industry that benefits all South Africans.

Looking towards the future While this recognition marks an exciting chapter in Barloworld’s journey, it is also a stepping stone to future goals. The company remains focused on sustainable growth, advancing customer experience, and furthering its contributions to the industrial landscape. This accolade affirms Barloworld’s dedication to its mission, encouraging employees to continue pushing boundaries and setting new standards of excellence.

As Barloworld looks ahead, the company is committed to maintaining its leadership while

upholding the values that have kept the company moving towards a positive trajectory. Barloworld envisions a future where its influence extends beyond business success, becoming a catalyst for positive change within society. This vision fuels Barloworld’s resolve to remain an industry leader, providing unmatched service and innovative solutions that contribute to a stronger South African industrial sector.

Barloworld’s recognition as the number 1 company in the Industrial Products & Equipment sector represents a significant accomplishment, achieved through the dedication and vision of its entire team. Sincere gratitude is extended to employees, clients, and partners for their unwavering support, which has been central to this success. Together, they have built a remarkable legacy and continue to strive for greater achievements.

For Barloworld, success is measured not solely by accolades but by the lasting impact on people, communities, and industries it serves. The journey forward is one of innovation, excellence, and a steadfast commitment to driving positive change. Barloworld celebrates this milestone with gratitude and enthusiasm, confident that many more achievements lie on the horizon. n

Scan the QR code for

14TH EDITION | TOP500 | 87 more information.

LEADING FROM THE FRONT

TECH

FINANCE THE FUTURE OF BANKING IN THE AI REVOLUTION

BY JENS-PETER JENSEN, GLOBAL HEAD OF FINANCE FOR FINANCIAL SERVICES AT SAP

T

he banking sector is set for a tidal wave of innovation as the adoption of a broad range of artificial intelligence (AI) solutions accelerates in the years ahead, supported by the growing power and scalability of the cloud.

The strategic use of AI is nothing new to the banking sector. Due to the data, processes and tech-intensive operations typical of the industry, banks have leveraged AI and machine learning to improve data classification and process automation, as well as uncover hidden patterns and predicting events, which is particularly useful in governance and compliance efforts.

The global banking, finance and insurance accounts for an 18% market share in the use of machine learning globally, second only to the ICT sector. This adoption is only set to grow as generative AI is deployed to a broad range of use cases.

The new wave of generative AI promises new advances in employee productivity, system efficiencies, and innovation. The impacts of this innovation will likely be seen in critical areas including greater differentiation, improved financial performance, and enhanced risk management capabilities.

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For banks, continued success and growth may depend on how effectively they leverage the power of business AI and the scalability of the cloud to power innovation.

AI POWERING STRATEGIC DECISION-MAKING One of the highest-value areas of AI-powered banking innovation is in improved strategic decision-making, especially at a CFO level.

In a banking and financial services context, the strategic role of the CFO is critical to the company’s performance and its ability to both identify and adapt to emerging risks and opportunities.

To fulfil this strategic role, CFOs need access to accurate, real-time information about the performance of the business at every level of granularity, enabled by powerful modern data management technologies. However, this level of real-time insights has not been available to

One of the highest-value areas of AI-powered banking innovation is in improved strategic decision-making, especially at a CFO level

TECH

CFOs at the speed at which the business moves, affecting strategic decision-making.

The introduction of business AI is set to revolutionise the strategic role of the CFO by automating manually intensive tasks to free up time and resources for strategic initiatives, improving reporting accuracy, and mitigating risks related to fraud through improved anomaly detection and prevention.

A recent survey by IDC found that CFOs expect AI to dramatically improve the performance of their finance functions, ranging from payments and expense management to financial close, forecasting, budgeting and planning. The report highlights the role of AI to enable CFOs to predict and model complex business scenarios in real time, using AI-powered insights to draw on historic patterns as well as capture and adjust to business events as they happen.

However, the success of business AI depends on the quality and relevance of the data it ingests.

Here, the role of business technology platforms leveraging the cloud become indispensable to banks’ efforts at adopting AI for innovation and decision-making.

Images: istock.com/Pakin Jarerndee

CLOUD PROVIDES PLATFORM FOR BANKING INNOVATION Banks are in a perpetual state of innovation to meet changing customer needs, adapt to regulatory changes, and design and deliver new banking products and customer experiences.

However, the high levels of complexity within their operations can make it hard for banks to adopt the new technologies they need for their innovation efforts.

Here, the power of the cloud and global best practices are critical to banks’ efforts. The introduction of SAP Sygnavio to enterprise resource planning transformation efforts equips banks with standardised software processes to reduce human error, optimise the allocation of existing tech resources, and ensure core processes are sustainable and resilient.

The success of business AI depends on the quality and relevance of the data it ingests

Banks leveraging SAP S/4HANA Public Cloud also gain access to insights at a local and global level into aspects such as best-practice processes, regulatory compliance, change management and more. By drawing on the insights from global peers, banks can make improved strategic decisions over core business and technology processes to reduce complexity and accelerate business transformation efforts.

Smaller Africa-based subsidiaries of larger global banking organisations can also leverage public cloud for a lighter approach to adopting new technologies that still easily integrates with the parent company’s core systems.

The adoption of SAP S/4HANA Public Cloud among smaller fintech companies such as neobanks, payment providers, insurance agents and brokerages also makes it easier for banks to integrate third-party innovations into their core banking offering.

Considering the speed at which fintechs can acquire new customers, especially in nontraditional markets where banks don’t have a strong presence, the ability to integrate these customers into the broader banking offering provides a compelling commercial opportunity for banks seeking revenue and customer growth.

The impact of business AI and the scalability and flexibility offered by the cloud will transform Africa’s banking sector and power the next wave of innovation and growth. By leveraging global best practices and investing in a business technology platform that enables the adoption of business AI and other innovative technologies, banks can transform their decision-making capabilities, unlock new growth opportunities, and build sustainable and resilient business models.

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TECH

DIGITAL ADVERTISING ONLINE ADSPEND REPORT 2024

BY PAULA HULLEY, ONLINE REVENUE REPORT PROJECT LEAD, IAB SOUTH AFRICA RESEARCH & MEASUREMENT COUNCIL AND MANAGING DIRECTOR AT DIGITAS LIQUORICE

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TECH

D

igital advertising has become indispensable for brands and businesses of all sizes. Post-pandemic, more consumers than ever before are digitally connected. In fact, Meltwater’s Global Digital Report ranks South Africa as number one globally for time spent using the internet — at nine hours and 24 minutes — with the majority of that time spent on social media platforms. Given this, businesses have found more reasons to invest in digital advertising — from targeted reach and measurable results to engaging formats and cost-effectiveness. And as businesses continue to recognise the power of online channels to connect with consumers, the investment in

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digital advertising continues to soar. The latest IAB South Africa Internet Advertising Revenue Report (‘Online AdSpend Report’) is evidence of the continued growth and maturity of the digital advertising landscape in South Africa, showing a remarkable 21.5% year-on-year (YoY) growth from 2022, reaching a new high of 39.8% of the overall advertising market. This is a significant increase from 36% in 2022 and 34% in 2021.

By tracking the growth and evolution of revenue generated by digital advertising, industry stakeholders can gain a better understanding of the market dynamics and make informed decisions about their future strategies. Data guides effective digital marketing strategies, helping optimise investments, while emerging trends present opportunities for monetisation. As the Online AdSpend Report reveals, digital ad spend has experienced double-digit growth over the past couple of years, reflecting a shift in consumer behaviour towards online channels. The growth of online retail in South Africa has further created new avenues for advertisers as retailers leverage their platforms to reach consumers at various stages of the buying journey. Checkers’ omni-channel strategy, for example, shows how the retailer’s offers remain consistent across their online and physical channels while it capitalises on its brick-and-mortar spaces by increasing opportunities for brands to advertise.

While paid search remains a primary driver of digital ad spend, accounting for 73.3% or R12.99-billion of the total digital ad spend in 2023, social media should not be dismissed.

Platforms such as Instagram, Facebook and TikTok have become crucial components of the digital advertising landscape, with social media marketplaces the next step in the evolution of social advertising. As the digital landscape continues to evolve, monitoring trends such as these will be essential for staying ahead of the curve.

Consultancy Kepios indicates an increase in South African social media users — from 25.8 million in 2023 to 26 million at the start of 2024 — while research firm GWI reports that 78% of South Africans use social media to research brands and products. This correlates with the Report’s findings that social media has become a 92 | TOP500 | 14TH EDITION 94 | TOP500 | 14TH EDITION

Social media communities, in particular, have emerged as powerful platforms for brands to connect with consumers and drive engagement

TECH

key contributor to the overall internet advertising market as Meta (Facebook and Instagram) accounts for 75.4% of paid social revenue in 2023, up from 71.1% in 2022, while TikTok saw a 47.7% YoY growth and X (formerly Twitter) decreased from 16.9% to 10.1%.

Images: istock.com/Shutthiphong Chandaeng, istock.com/ARMMY PICCA,istock.com/ 2158823163

Social media communities, in particular, have emerged as powerful platforms for brands to connect with consumers and drive engagement.

These spaces allow participants to engage with their interests and like-minded individuals, fostering a sense of belonging and connection. By participating in these communities, brands can leverage authentic word-of-mouth marketing, build customer loyalty and increase sales. A defining element that will ensure a strong brand presence is the authenticity of the brand content and the value offered to community members in exchange for engagement, which will be essential to avoid negative online sentiment and discussions.

As marketers, we can typically separate our brand-building and performance investments.

If we want to create better experiences with our customers, we need to ensure our targeting and content is relevant, that it makes sense, that it builds the brand and opens the opportunity to shop if the consumer wants to. Here, brands can become the answer to what the consumer needs instead of simply selling the consumer more products. Artificial intelligence (AI) will be

key to addressing this as it can be used to analyse user data, create highly targeted campaigns and optimise ad performance, mitigating the looming depreciation of third-party cookies (i.e., the phasing out of third-party cookies). This shift is driven by the need to effectively reach audiences without relying on traditional tracking methods. Brands such as Takealot and Nando’s are already leveraging AI to improve their advertising strategies, with Takealot offering personalised product recommendations and Nando’s monitoring social media sentiment and conversations to create relevant, targeted content. In the same vein, the use of AI also raises concerns about privacy and ethical data usage.

Brands must ensure their AI-powered campaigns comply with data protection regulations and respect user privacy.

As the end of 2024 nears, the digital advertising landscape in South Africa is poised for continued growth, driven by factors such as increasing internet penetration, the rise of e-commerce and the ongoing development of new technologies.

Businesses will need to continue adapting to the changing consumer landscape and digital advertising will play an increasingly important role in their marketing strategies. By understanding the latest developments in the digital advertising landscape, such as those presented in the IAB South Africa Online AdSpend Report, businesses can make informed decisions and maximise their return on investment.

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TECH

INNOVATIVE SOLUTIONS TECH

CATCH-ALL SOLUTIONS DON’T EXIST THERE ARE NO SILVER BULLETS IN TECH

BY DIRK RAS, ARCHITECT AT DARIEL SOFTWARE

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TECH

A

lycanthrope, commonly known as a werewolf, is a creature found in folklore and mythology that can transform from a human into a wolf. This transformation takes on the form of a human/wolf hybrid during the full moon. Werewolves are known for their supernatural abilities, as well as their violent behaviour and predatory nature. The most common way of killing a werewolf is by using a silver weapon, like a dagger, sword, or, in modern times, a bullet. The idea is that silver has mystical properties that can harm or kill supernatural creatures, like werewolves. So, in effect, a silver bullet is a simple and effective way to quickly and permanently solve the problem of having a violent beast terrorising you.

Hoping some technology will make everything better is certainly not a viable strategy

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Like in folklore, businesses have scary and monstrous beasts living in their basements. The terror of a tech estate. And, just like in folklore, business leaders are constantly seeking a simple, quick and 100% effective solution for a complex and often seemingly insurmountable problem.

The 1986 essay by Fred Brooks discusses this topic, yet the concept still persists almost four decades later.

Looking at the 2000s up until 2024, here are a few of the shiniest silver bullets:

1

Agile

2 Service-Oriented Architecture (SOA) 3 Web 2.0 4 Cloud 5 Big Data 6 DevOps 7 Microservices 8 Blockchain 9 AI/ML 10 Low-Code/No-Code Don’t get me wrong, this doesn’t mean these methodologies and technologies are insufficient or inadequate. Many of them have matured into vital parts of the technology landscape. They just weren’t the magic fix-all that people hoped they would be. Anyone who has been around for a while will instantly notice how all these terms were the go-to buzzwords a few years ago. Currently, AI is the talk of the town, and the first signs of disillusion are already starting to show.

This begs the question: why do people seek silver bullets? There is a concept in certain tech execs’ minds that there is a mythical single solution that will instantly fix all their problems. Silver bullets are easy. They’re optimistic. While there is nothing inherently wrong with that, hoping some technology will make everything better is certainly not a viable strategy.

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The silver bullet can take the form of a person.

The mythical 10x full stack developer who is an expert in C++, Java, Fortran, and every flavour of SQL, can create and enforce strict MongoDB schemas, is a serverless bare-metal expert, has developed a C++ to Ruby on Rails compiler, created an immutable/mutable data structure and runs quantum workloads on a Kubernetes cluster.

Where this unicorn is to be found is, however, never well-articulated. While there are very talented and intelligent people in the world, no one person can have the skills of an entire development and IT department. Not to mention the keyman dependency this would create.

The next silver bullet is the perfect process – a harmonious blend of structure and flexibility, where every step is meticulously planned yet adaptable to change. It balances automation with human insight, ensuring efficiency without sacrificing creativity. Communication flows seamlessly across all levels, fostering collaboration and transparency.

Metrics are clear and actionable, driving continuous improvement while keeping the team aligned with overarching goals. This process is neither rigid nor chaotic; it evolves organically, guided by both data and intuition, leading to consistently highquality outcomes delivered on time. So many lovely words. Unfortunately, when the rubber hits the road, it is completely impossible. In the real world, there are time and resource constraints, a lack of communication, unclear and sometimes nonexistent metrics and conflicting goals.

Finally, there’s the silver tech bullet. The perfect software system that is a seamless blend of elegance and functionality, offering an intuitive and responsive user experience. It is designed with scalability in mind, effortlessly handling increasing loads without compromising performance. The system is robust and secure, protecting data while ensuring reliability through rigorous testing and fault-tolerant architecture. Its modular design allows for easy integration with other systems and future enhancements. The codebase is clean and maintainable, with clear documentation and a well-defined API. Again, so many lovely words, but in the real world, this never happens. The world

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of software engineering is one of compromise and trade-offs. While all these are very desirable attributes of a system, they rarely, if ever, all occur within a single system, let alone a technical estate.

Unfortunately, the answer is neither revolutionary nor particularly sexy. In fact, it is pretty boring and mundane. The super-secret special ingredient is good, consistent engineering practice. There is no perfect engineer who can do anything. There are teams that must work together towards a common and achievable goal. There are no perfect processes.

But there are processes that are fit for purpose

The closest thing we can get to a silver bullet is assembling talented and motivated teams led by effective leadership that empowers them to perform and innovate within the appropriate context. Processes should be iteratively developed and refined until they are optimally tailored to their purpose. Technology must be carefully selected or developed to address well-defined problems, ensuring it effectively solves business challenges and enhances overall business operations.

All of this requires diligent hard work, constant monitoring and refinement. The chef Marco Pierre White quote seems quite appropriate: “Perfection is a lot of little things done well”.

Images: istock.com/TU IS, istock.com/Jacob Wackerhausen

Processes should be iteratively developed and refined until they are optimally tailored to their purpose

that must be reviewed, refined, and maintained to ensure that they stay fit for purpose. There are no single pieces of technology that will instantly transform dysfunctional technical estates into smooth-running, shiny, utopian data centres.

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PROTECTING ASSETS WHERE DATA PRIVACY MEETS CRYPTOCURRENCY

BY HANNES WESSELS, GENERAL MANAGER, SOUTHERN AND FRANCOPHONE AFRICA, BINANCE

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n 2022, 1.2 billion records were revealed across just 35 of the biggest global breaches. In 2023, an independent study undertaken by Apple and the Massachusetts Institute of Technology found that the total number of breaches tripled from 2013 to 2022 and more than 2.6 billion records were exposed. The threats have reached, as the report said, historic levels. Data privacy has never been more of a risk and the need for solutions that resolve this complexity and embed rigid security within transparency, has never been greater.

This was one of the core messages of Data Privacy Week 2024. Running from 24-28 January, this week of awareness initiated by the National Cybersecurity Alliance is defined as an ‘international effort to empower individuals and businesses to respect privacy, safeguard data and enable trust’.

It is a key initiative as it focuses on bolstering the crumbling foundations of data privacy with visibility into the risks and complexities that come with living in the digital age. People are living their lives online and personal data flows into

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Data privacy has never been more of a risk and the need for solutions that resolve this complexity and embed rigid security within transparency, has never been greater

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Data laws and regulations in one region differ from those in another country and this has the potential to introduce vulnerabilities and complexities that can be exploited by cybercriminals

organisations, governments and corporations, powering them as smoothly as petrol does cars.

And that flow is being tapped by ransomware, exploit vendors, cryptojacking, hacking and the multitude of threats evolving and adapting online today.

The situation is further complicated by the evolution of digital payment solutions such as cryptocurrencies. The latter has evolved from niche to next-generation financial solutions and users deserve to feel safe from digital threats, working on exchanges that are stable with solid features.

Binance, among other cryptocurrency companies, has prioritised security for assets and user data as standard, leveraging a 360-degree approach to security that covers everything from Know Your Customer through to machine learning. Why? Because cybercrime is a business. Protecting personal data needs to be the same. Fortunately, the African regulatory landscape is paying attention to the challenge. Over the past few years, the 100 | TOP500 | 14TH EDITION

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number of countries across Africa implementing data protection laws and regulations has increased considerably.

Currently, 36 of 54 African countries have data protection laws or regulations and 16 have joined the African Union Convention on Cyber Security and Personal Data Protection. However, varied regulations, complex laws and limited visibility into processes and platforms have made it challenging for companies to operate smoothly across the continent. Data laws and regulations in one region differ from those in another country and this has the potential to introduce vulnerabilities and complexities that can be exploited by cybercriminals, or even leave companies and individuals open to fines and risk.

Another challenge is that there remain some barriers to understanding and awareness.

Individuals and organisations are still not completely aware of the depth of the data privacy problem and their rights when it comes to data protection and privacy. While there are regulatory

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privacy remains at the forefront of security and planning, but they should not be the only vanguard on the security front line. Organisations must play Tem eost, utcommitments aliquia que to a pivotal roleetinrestium prioritising their con pelibus as que corum rem quo data privacy and transparency. venit, ipid enihil il exeri culliquidis que within natinienis cuptur, nonsequas Companies the cryptocurrency realm are particularly under pressure to perform on the data privacy stage. This technology, this ubiquitous financial capability, has not disappeared or faded or died as predicted by experts over the years. Instead, it remains a consistently reliable form of interaction and transaction on the global market and, as a result, has a target painted on its digital back.

Companies within this sector must prioritise data privacy and security to ensure that organisations and individuals turning to digital currencies are assured of complete trust and visibility into their data and its protection. They also have to find a balance between user privacy and regulatory expectations – how can they ensure user privacy and data protection within the constraints of existing regulatory demands? How can they protect the individual while preventing crime?

Images: istock.com/greenbutterfly,istock.com/metamorworks

and legal frameworks in place, they have to evolve faster to become more agile and in line with the threats. The same problem applies to security infrastructure – data security infrastructure is limited, skills and expertise are in short supply, and cybercrime has laser-focused on the continent because of these weaknesses and vulnerabilities.

These challenges are not being ignored. The African Union (AU) Digital Transformation Strategy for Africa and Data Policy Framework have both introduced significant support for organisations and individuals operating on the continent. These are being further driven by the Malabo Convention – the Convention for Cyber Security and Data Protection – which, as outlined in a post by Harvard Law, is a ‘promising point of convergence for data privacy’.

Africa hasn’t been left behind, it is catching up with the world while benefiting from best-practice regulatory innovations and evolutions from around the world. African countries are ensuring that data

It is a balance that Binance has focused on achieving, leveraging technological innovations such as blockchain encryption to enhance data privacy and security in financial transactions while remaining within the expectations of the law. That said, it is a balance that requires an agile mindset and constant collaboration with governments, advocacy groups and industry bodies to ensure the consistent delivery of a secure digital environment for financial services.

In addition to blockchain innovation and industry collaboration, Binance has put strict protocols and industry-leading technical measures in place that include real-time monitoring, 360-degree risk management systems, advanced data privacy tools, and end-user security education tools. We are committed to ensuring data privacy and transparency are embedded within the very foundations of our organisation, and to ensuring that cryptocurrency becomes synonymous with data protection, user visibility and financial innovation.

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LEADING FROM THE FRONT

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THROUGH THE CLOUD CLEARING UP A COMPLEX TECHNOLOGY

BY MOEKETSI RAMOKONE, JP4IR SOLUTIONS

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loud computing shouldn’t need demystifying, but complex terminology, ongoing hype, and conflicting stories about its potential have complicated its outcomes and perceptions. The technology has the potential to revolutionise business processes while allowing for scalability, agility, and flexibility across multiple touchpoints throughout the organisation.

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The complexity lies in the how. How does the cloud step into the business and reimagine its existing capabilities to deliver real value?

The first answer lies in scalability and accessibility.

The technologies that frame the concept of cloud computing allow for organisations to optimise their processes to meet specific demands.

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Instead of having hardware on site that has to be physically managed and scaled when your business grows, you can use virtual infrastructure provided by your service provider to scale (or downscale) on demand.

The cost savings are immediately apparent as companies no longer have to manage and pay for hardware that they may or may not be using.

Instead, the burden of the technology sits with the cloud service provider while you determine usage based on actual need.

Which introduces the next benefit – cost savings.

One of the most often mentioned benefits of cloud computing is its ability to save your business money. On the surface, you can see why.

It is on demand, it is flexible and you are paying as you go. At its core, cloud computing shifts the narrative from CAPEX to OPEX. However, there is conflicting information on the actual savings a business will feel if it moves to the cloud. There are numerous stories about bill shock. Cloud is not cheaper nor is it costeffective if it is not integrated or managed properly. While it can deliver superb savings because of its economies of scale and pay-as-youneed structure, it will only do so within the right structure and implementation.

Images: istock.com/PeopleImages

You will see cost savings and you can transform your bottom line, but only if you approach the cloud with a realistic strategy and visibility into costs versus expectations. If you don’t lift and shift your infrastructure but instead approach your cloud investment with the goal of simplifying and streamlining your systems, then you will see measurable financial results.

Flexibility and agility are a given.

The scalability and accessibility of the cloud hand deliver, with a gold bow, flexibility, and agility.

Want more computing? Done. Want to pivot in a new direction and experiment with new apps? Done. Want to expand to include a global workforce or transform to an entirely remote working model? Done.

Cloud brings you the tools you need to expand your horizons and achieve your business goals

Agility and flexibility have become critical business success factors in a highly demanding global market. As your business battles mercurial economies, geopolitical instability, and ongoing uncertainty, the ability to harness flexibility is of immense value. Cloud allows you to rapidly deploy apps, expand resources, and reimagine team collaboration easily.

Combined, all these factors deliver innovation and competitive ingenuity.

When your business can pivot and adapt on demand, you are able to meet market needs and customer expectations at speed. Cloud brings you the tools you need to expand your horizons and achieve your business goals. It gives you access to advanced technologies such as artificial intelligence (AI), data analytics, business process optimisation, ERP and CRM platforms and so much more. It expands the horizons of your organisation by giving your talent the space to collaborate and experiment and adapt. Your teams will innovate at a pace that matches the competition and you will bring ideas to market faster.

While cloud computing has its risks and its fine print, it is a powerful tool for companies who are open to using technology to drive innovation and growth. With the right partner, you can navigate the complexities of compliance, security and regulatory requirements and stay within your cost expectations. Cloud is more than just a technology; it is the sum of evolving parts that help your business thrive in the modern economy.

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STARTUPS “HOW I GOT 1.6 MILLION YOUTH REGISTERED TO VOTE” INSIGHTS FROM ALEXANDRIA PROCTER At the age of just 24, Alexandria Procter founded a property tech company, DigsConnect, which is now the largest student housing marketplace on the continent. Four years after her entrepreneurial journey began she was appointed to the board of directors at the National Youth Development Agency. In this Business Unusual Podcast Alexandria joins Sasha de Freitas to delve into her new book Upstart, sharing insights into scaling a business in Africa, how to balance multiple roles and the importance of youth voting.

4 KEY TAKEAWAYS TO LISTEN OUT FOR IN THIS PODCAST: 1

You don’t have to have everything figured out to be a successful entrepreneur

2 Be prepared for your entrepreneurial journey to be full of challenges and unexpected turns

3 Your vision and finding enjoyment in what you do is what you should focus on

4 Don’t compare yourself to others - focus on building yourself up and feeling good about yourself

ABOUT ALEXANDRA Alexandria founded DigsConnect, now the largest student housing marketplace on the Af rican continent, when she was a student at UCT, after being elected to the Student Representative Council, building the MVP with Python and JavaScript.

She was appointed to the board of directors for the National Youth Development Agency by President Cyril Ramaphosa in Nov 2021 and at the NYDA, launched an initiative in 2023/24 called One Million for Democracy, with the goal of getting 1 million young South Af ricans registered to vote. By the time registrations closed, they had achieved getting 1.6 million new young South Af ricans on the voters roll.

In 2019 she launched Libraries for Entrepreneurship, an initiative aimed at developing digital entrepreneurship in the Cape Flats and in 2024, following a UNDP strategy lab, founded House of Pharos, an SDG-aligned venture capital fund and venture studio which she is documenting on her TikTok channel.

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Listen here

WE MAKE TRADE FLOW TO CHANGE WHAT’S POSSIBLE FOR EVERYONE

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BENEFICIAL OWNERSHIP THE WHO, THE WHEN AND THE HOW OF BENEFICIAL OWNERSHIP

BY ELDRÉ DE SWART, COMPANY SECRETARIAL ADMINISTRATOR AT GALBRAITH RUSHBY

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n today’s regulatory environment, beneficial ownership has emerged as a crucial area for businesses around the world and a critical area of focus for South African businesses as regulatory authorities prioritise transparency in corporate ownership and control. With the introduction of new requirements by the Companies and Intellectual Property Commission (CIPC), companies must ensure they accurately disclose information on beneficial owners to remain compliant.

Beneficial ownership refers to individuals who ultimately control, own or benefit from a company, even if they are not the officially registered shareholders. This concept highlights the true influencers behind an entity, such as individuals who indirectly control significant shares or voting rights she adds. Beneficial owners may not appear on formal records but still hold the power to make decisions, receive financial benefits, or influence company policies.

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The drive to disclose beneficial ownership is part of a global effort to combat financial crimes like money laundering, tax evasion and corruption. When companies provide accurate information about who controls and benefits from their activities, regulatory bodies can better identify and prevent potential misuse of corporate structures.

In South Africa, enhanced transparency requirements improve market integrity and reinforce investor trust by allowing stakeholders to understand who truly controls a business.

Beneficial ownership refers to individuals who ultimately control, own or benefit from a company, even if they are not the officially registered shareholders

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In addition, beneficial ownership transparency is important for good corporate governance.

When companies disclose their true owners, they build trust with investors, regulatory bodies and the public. This is especially important in South Africa, where increased transparency supports the financial integrity of markets and contributes to a fairer business environment.

In line with global standards, South Africa’s regulatory framework now mandates more detailed beneficial ownership disclosures. The CIPC has recently updated its guidelines, which specify who, what, when and how companies need to report: WHO • Companies with complex ownership structures: Any business where ownership or control is not straightforward must disclose information on beneficial owners.

For instance, companies where shares are held through trusts or nominees must identify the individuals with ultimate control • Financial institutions and specific nonfinancial entities: According to the Financial Intelligence Centre Act (FICA), some entities must identify beneficial owners as part of their due diligence practices WHEN AND HOW • Beneficial ownership information is required during annual return submissions or whenever there is a significant change in ownership • The information must be kept up-to-date and ready to be provided to CIPC upon request STAYING COMPLIANT Staying compliant with beneficial ownership requirements can be manageable with a few straightforward steps: 1 Identify beneficial owners: Review your company’s ownership structure to identify all beneficial owners. This may include shareholders, trustees, and anyone with significant influence over the company’s decisions

2 Maintain accurate records: Keep detailed

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records on all beneficial owners, including the required information. This ensures you can respond quickly to CIPC queries or submit accurate details in your annual returns Monitor changes in ownership: Any change in ownership or control must be recorded and reported, so it’s important to regularly review and update your records Seek professional assistance if needed: If your company has a complex ownership structure, consult with your accountant or legal advisor to ensure all beneficial ownership reporting requirements are met.

This guidance can be particularly helpful if your company is privately owned or involves trusts or nominee arrangements

By meeting beneficial ownership reporting requirements, your company can benefit in several ways: •

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Builds trust with investors and stakeholders: Transparency about who controls your business enhances credibility and trust Reduces risk of penalties: Non-compliance with CIPC requirements can result in penalties. Accurate disclosure minimises these risks Supports market integrity: By participating in these initiatives, your company contributes to a safer and more accountable business environment in South Africa

Beneficial ownership reporting requirements may continue to evolve in South Africa as the regulatory landscape aligns with international best practices. By identifying beneficial owners, maintaining up-to-date records, and staying informed of regulatory changes, your business can navigate these obligations confidently.

Beneficial ownership requirements can feel complex, but understanding the basics helps ensure your company remains compliant and transparent. If you need support be sure to reach out to your accountant to ensure you’re fully compliant.

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DON’T FEAR THE DEBT WHY LOANS CAN MOVE YOUR BUSINESS FORWARD

BY CRAIG WHITE, COO & CO-FOUNDER OF GEDDES CAPITAL

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here is a natural fear around taking on business debt, however, loans, while complex to understand, can also open up substantial opportunities for growth. Business loans may be intimidating but they should really be seen as strategic investments.

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HERE ARE FIVE REASONS WHY DEBT CAN MAKE ALL THE DIFFERENCE TO MOVING A BUSINESS FORWARD.

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Secure stock Securing a loan can enable a business owner to purchase more stock or raw materials. It also may allow for negotiating bulk discounts on stock, improving profit margins.

fluctuating repayment amounts or structures, such as balloon payments or adjustable rates. This is why professional support makes all the difference.

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Increase tech and equipment Investing in modern technology and equipment enhances efficiency and productivity. For example, a manufacturing business could use a loan to purchase advanced machinery, leading to faster production times and lower labour costs.

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It is difficult to predict future performance and therefore wonder about affording debt repayments.

But working with a reputable lender means a business won’t become overstretched. At Geddes we take a future-forward approach and work with clients to advise on the most appropriate type of funding. Good lenders won’t allow you to overcommit and will ensure that the facility you get is suitable for your needs.

Boost your brand A loan can be used to fund a marketing and advertising campaign to attract new customers and retain existing ones. An e-commerce store, for instance, could use funds to launch a targeted online marketing campaign.

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Increase working capital A loan can supply any business with the essential capital required to expand its customer base, while maintaining sufficient funds to purchase inventory, settle payments with creditors, and effectively manage and expand accounts receivable.

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Images: istock.com/Lordn

Business loans may be intimidating but they should really be seen as strategic investments

Ramp up research For businesses in industries where innovation is key, a loan can fund research and development activities. This could involve creating new products or improving existing ones, leading to future profits.

These are just five great reasons to push for business growth this year. Funding opens up many opportunities.

Business owners will need to grapple with the types of interest rates, such as fixed or variable, how the rates accrue, and the impact on the total amount repayable. This complexity increases with loans that have

Life does happen and so the risks of defaulting on loans must also be considered. Tailored plans and loan structures have a crucial role to play but the reality is, strong lenders understand that unexpected surprises can arise. This is why it’s so important to have an open line of communication and to always be honest if you are concerned about defaulting. By letting your lender know the challenges ahead, there can be options to reduce rates, put a payment holiday in place or even extend loan facilities to manage cash flow. But you have to communicate as early as possible Honesty and trust between a funder and a business owner works two-fold; it not only cements the confidence that the funder will provide support and resources as promised but also the expectation that the business owner will utilise funding responsibly.

When processing a business loan application, a quick decision is much easier to achieve when a business’ paperwork is up to date such as having accurate financial statements and tax records. This indicates to funders that a business is on top of things.

Our leadership team has significant entrepreneurial experience, so it’s key for us to ensure every client relationship is approached with reliable insight on funding needs and opportunities for growth.

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IS IT WORTH IT TO OUTSOURCE YOUR HR DEPARTMENT?

BY NELLY MOHALE, HEAD OF HUMAN CAPITAL AT DECUSATIO

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recently read an article about 5 Warning Signs You Need to Outsource Your HR where the author Skye Schooley wrote: “To say that HR carries responsibility for your company’s success is an understatement.” This begs the question: If HR carries such a great responsibility, is it worth it to outsource your HR department or rather keep it in-house?

having permanent personnel working on HR services and opt to have a service provider taking care of its HR function at a much lower cost - not because it is cheaper, but because the function is managed more efficiently.

Consider for a moment the evolution of many growth businesses. Initially the CEO is responsible for the recruitment of staff, but this role morphs over time and often the finance or operations functions end up falling into the role. With a myriad of labour, Employment Equity and B-BBEE legislation now influencing hiring decisions, the wrong people may be tasked with a critical function.

The Human Resources (HR) function holds significant importance within any organisation as it is responsible for the well-being and engagement of employees in the workplace as well as the legal and compliance leg of managing the employees.

Nonetheless, managing both business operations and HR tasks can overwhelm some business owners.

If you are spending too much time managing HR problems, cannot afford a full-time resource, have unclear lines of accountability within the HR function or you simply can’t respond to changes as quickly as you need to - it might be a good idea to start considering outsourcing your HR department.

Here’s why it may be worth it:

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COST AND TIME SAVINGS It goes without saying that outsourcing the HR function will save a great deal of time for the entrepreneur. The business will save from

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Outsourcing your HR department can lead to cost reductions by optimising HR operations and entrusting specialised HR professionals to manage these functions. Additionally, substantial savings can be achieved in managing payroll, benefits administration, labour expenses, workers’ compensation, and other critical HR aspects.

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ACCESS TO EXPERTS Outsourcing the HR function helps business owners to access top quality HR service providers in the market without having to hire an HR professional. The HR service providers will assist in providing a wealth of knowledge and expertise in terms of HR

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The Human Resources (HR) function holds significant importance within any organisation as it is responsible for the well-being and engagement of employees

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PLAY TO YOUR STRENGTHS The HR department handles a wide range of duties, including recruitment, processing payroll, managing salaries and leaves, providing IT support, fostering positive working relationships, and wellness initiatives. Businesses have areas in which they excel and areas in which they might struggle, just as individuals do. If a company is particularly good at some HR duties, it might decide to contract with outside HR specialists to handle the duties in which it is not as skilled. For example, a business may perform exceptionally well in hiring but struggle with managing payroll. One workable solution in this kind of situation would be to contract out the payroll function to HR experts who specialise in this field. HR management, HR administration, and recruitment are a few HR tasks that companies can contract out.

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ALIGN YOUR CULTURE WITH YOUR HR DEPARTMENT Often the burden of HR gives the HR department a bad rep. Ensuring people can trust the HR function is difficult if the same department deals with disciplinary issues and legal and compliance issues.

Depending on the company culture, outsource the functions that could make it difficult for employees to engage with HR. Unfortunately, the best companies to work for still have to deal with disciplinary issues, but outsourcing this function could create a friendlier interaction between employees and the HR department - and positively contribute to organisational culture.

compliance. Businesses may access a wider skill set, obtain insightful knowledge and ensure that HR procedures comply with legal and industry standards by utilising the experience of external HR experts. This collaborative approach promotes innovation and continuous improvement within the HR department in addition to improving operational efficiency.

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UNDIVIDED ATTENTION TO CORE BUSINESS NEEDS By outsourcing HR, businesses can redirect their focus and resources back to their core needs and operations. Organisations can redirect more time and resources toward strategic initiatives, innovation, and revenue-generating activities by contracting with outside service providers to handle administrative HR tasks that will assist in the success of the business. This change enables businesses to focus on their core competencies, such as product development or service enhancement, customer support, or market expansion.

INCREASED EMPLOYEE EXPERIENCE AND SATISFACTION HR function outsourcing can result in improved service delivery, which will raise employee satisfaction and experience levels across the board for the company.

Businesses may offer prompt and accurate assistance in areas like payroll and leave administration, employee relations, training, and development, creating a positive work environment, and increasing employee engagement by utilising the experience of outside HR specialists. It has been proven that when employees are satisfied with the company culture, they are more likely to perform better and market their company.

Often the greatest barrier to outsourcing is the perception that it will be hard work to onboard an external company to manage the HR department. But if you think about the fact that this could save you money, give the organisation access to expert guidance, allow the business to focus on its core capabilities and positively contribute to the company’s culture - is it not worth it? Absolutely!

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HOW INCENTIVE AND REWARDS PROGRAMMES CAN HELP YOU RETAIN AND ATTRACT TALENT

BY STEVE MALLABY, CHIEF EXECUTIVE, ADUMO PAYOUTS

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aced with a challenging local and global economy and a pervasive scarce skills challenge, companies are seeking new measures and tools to help them recruit, motivate and engage their employees.

Employee incentive and rewards programmes can play a leading role in rewarding top performers, driving positive workplace behaviour, and cultivating an attractive employer brand that can help attract a steady stream of talented candidates.

Employee incentive and rewards programmes provide companies with a powerful tool to reward outstanding performance

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Employee incentive and rewards programmes provide companies with a powerful tool to recognise employees, reward outstanding performance, encourage compliance with workplace regulations – such as health and safety measures – and augment salaries and bonuses.

BESPOKE PROGRAMMES Companies that want to attract scarce talent or retain top performers should utilise incentives and rewards to drive higher levels of employee engagement. The Gallup ‘State of the Global Workplace: 2023’ report reveals that a significant 85% of global employees lack engagement in their work.

Engaged employees are more productive and customer-focused when they feel appreciated.

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Driving higher levels of productivity is not the only workplace issue facing South African companies. In industries with high standards for workplace safety, such as mining and manufacturing, employee engagement can be critical to ensuring compliance with safety regulations and maintaining generally high levels of workplace safety.

Gallup’s research indicates an 81% decrease in employee absenteeism and a 58% reduction in employee safety incidents among highly engaged workforces. For companies that have to meet high levels of workplace safety, a strategic incentives and reward programme can transform their occupational health and safety capabilities.

By building a reputation as an employer that offers a safe workplace environment, companies in the mining and manufacturing sectors can more readily lure workers into their fold.

Images: istock.com/Jacob Wackerhausen

REWARDS CAN DRIVE PRODUCTIVITY However, effective rewards go beyond just recognition: they foster motivation, build loyalty, drive productivity, boost retention, and help strengthen relationships between companies and the people that drive their success. In fact, studies have shown that more than two-thirds of employees would work harder if they were recognised for their efforts.

Companies seeking to recognise their partners and suppliers for their contribution during the year also benefit from healthier relationships, improved collaboration, and stronger partnerships. And rewarding customers that have stuck with the company through tough times can build greater affinity for the company and ensure the customer is retained.

PERSONALISED CUSTOMER EXPERIENCE Preloaded incentive payment cards have emerged as valuable tools for companies seeking a rewards mechanism that can meet the demands for personalisation and customer experience. A preloaded incentive payment

card such as adumo Payouts’ Premium Imali card, backed by Mastercard, allows recipients to spend their rewards at any place that accepts card payments, providing the ultimate in choice and convenience.

In some cases, traditional salary bonuses may be subject to garnishee orders, meaning the employee will not receive the full value of the reward. By providing a preloaded and reloadable incentive card, companies can ensure their rewards programme delivers the optimal experience. When employees (and partners and customers) receive rewards that are tailored to their needs and align with their interests, it demonstrates a genuine understanding and appreciation of their contribution to the company and their role in its success.

THE FREEDOM TO CHOOSE YOUR REWARD Giving recipients the freedom to choose the reward they want and to spend it in the way that brings the greatest value to their lives significantly enhances the impact of the rewards programme. Companies may conduct employee surveys to better understand whether a cash reward, a travel voucher, wellness package or gift card to their favourite store would resonate best with individual employees.

However, this can be challenging in larger companies with dispersed workforces. Using a prepaid reloadable incentive card circumvents these challenges, giving employees the freedom to choose how and where they spend their reward.

BOOST THE IMPACT OF YOUR REWARDS PROGRAMME Combining personalisation and flexibility can boost the impact of rewards programmes and ensure they deliver on the employee satisfaction, retention, and brand-building benefits. Effective rewards are essential drivers to attract, retain, and motivate employees while building loyalty with customers and partners.

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BUILDING YOUR DREAM TEAM TIPS & ADVICE

5 WAYS TO ENHANCE EMPLOYEE PERFORMANCE

BY MICHAEL GULLAN, CEO OF G&G ADVOCACY

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aMost business leaders and HR professionals agree that business success depends on employee performance. It makes sense that developing your employees should be a strategic imperative. However, a shift from employee development to performance may be what your business––and your people need––to make it possible to reach your goals.

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TIPS & ADVICE

I recommend focusing on the employee’s performance (in their workflow) as a key pillar of your development strategy. The traditional development model that provides courses you think employees need is no longer relevant. For adults to learn effectively in the workplace, they need more than knowledge acquisition. They need to apply their knowledge and enhance their performance. Only then will you get an ROI on your L&D and drive your business towards its goals.

New Only essential material that supports performance needs is included. This also supports adult learners who are distracted, busy, and under pressure to perform.

4

A shift in focus is needed to transform employees into the dream team business leaders need to survive and thrive:

1

START DIFFERENTLY Traditional Most development programmes start by asking key questions: What skills do my employees have, and what new skills do they need? Doing this may result in course and assessment completions which may infer that some knowledge was acquired.

New Start with understanding what your employees need to be able to do (perform) and then define what information is required to support their performance enhancements.

Images: istock.com/JLco - Julia Amaral

2

FOCUS ON APPLICATION Traditional Address two types of learning: upskilling (more knowledge) and reskilling (new knowledge), and test how well employees complete and pass their assessments.

New A performance-first approach looks for when new knowledge will be applied, and these moments of application inform what new or more information is needed to support mastery.

3

ONLY CRUCIAL INFORMATION Traditional Can be lengthy, time-consuming, and costly, with very little focus on the moments of application.

ENABLE LEARNING WHILE AT WORK Traditional Information is available at work to reskill and upskill employees.

New Enables real application within the workflow, which is the best time to apply new knowledge and fuel engagement. The workflow is where experiential learning thrives, knowledge is integrated, and success is immediately validated.

5

ONGOING PERFORMANCE MEASUREMENT Traditional Employee development is measured by course completion and assessment results.

New Performance-based eLearning can be measured with greater precision, such as: • Increased employee adoption • Increased performer confidence • Increased customer satisfaction • Increased performance and time to successful performance • Use of mission-critical assets or procedures • Optimised workflow and productivity • Decreased gap between low and star performers There is much scientific evidence to prove that performance-based learning is effective beyond traditional fact-and-skill learning. L&D teams and their eLearning partners need to get out of their own way and make the shift.

Organisations need skillful employees, more than they need re-skilled or up-skilled people. Only skillful employees can move corporations toward their goals.

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TIPS & ADVICE

TIPS & ADVICE

WHY FRONTLINERS ARE THE KEY TO YOUR ORGANISATION’S SUCCESS

BY TOM MARSICANO, CEO OF ‘AND CHANGE’

F

rontline workers and managers are the backbone of any institution. The people who offer your services to customers reflect your organisation’s internal state of affairs. Therefore, their careers and happiness are core to your success, and their buy-in is the key to effecting positive organisational change.

Organisations worldwide must manage extreme change, especially in the face of the so-called ‘polycrisis’ – a term coined by the World Economic Forum describing the ongoing global crises affecting our lives.

From economic depressions to global conflicts, many institutions are treading water, hoping to maintain their development while keeping their

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workers’ happiness intact. This circumstance is especially true in South Africa, where we must deal with compounding factors like inflation, crumbling infrastructure, and brain drains.

Frontline workers are usually the first to experience significant organisational changes, from restructuring to implementing new

The people who offer your services to customers reflect your organisation’s internal state of affairs

TIPS & ADVICE

systems or determining new ways of working.

The most successful of these front liners can see these changes as an opportunity, not a threat. Yet developing that mindset does require training, supportive management, and reasoning from leaders to ensure the change is fully understood – a vital process in avoiding resistance to the change. These are all critical elements of change management, and the risk of not seriously taking change resistance is evident when you consider that 70% of organisational transformation efforts fail without proper employee buy-in.

•

Provide the resources and skills to frontline managers to give them what they need to manage change resistance in their teams Build coalitions between themselves to support the change

One must go beyond simple verbal recognition and follow through with action

So, what can those of us across an organisation do to ensure that frontline workers are ready and willing to embrace change? Implement change management principles across the organisation, from executives to frontline managers to workers on the ground – the change value chain.

THE FRONTLINE WORKERS THEMSELVES Much of the change management work should be conducted by organisational leaders, and ambitious workers on the frontline can leverage the change to showcase their leadership abilities.

FRONTLINE MANAGERS From their relationship dynamics with their teams to their dual role as both recipients and agents of change, team leaders are essential to managing the current seismic shifts organisations are facing. Research from Prosci, and on-the-ground experience tells us that there are multiple vital activities that frontline managers must perform in times of change:

Learn how to manage your change – especially in an environment where middle managers are overworked or, worse, untrained. They can do this by inquiring about the change, how it affects their career, and how to help facilitate it Avoid feeling like a victim of change. Instead, they can use the change to their advantage and express what they need to succeed to decision-makers

•

In our consulting experience, we’ve seen how successful organisation-wide training can be.

One of our clients in the FMCG (fast-moving consumer goods) sector was implementing an entirely new distribution process for their products and decided to train their distribution units at the ground level in change management skill sets. The adoption of the new system was rapid, and this not only empowered workers across the business but also dramatically heightened efficiency.

• • • •

Images: istock.com/Drazen Zigic

•

Communicate the change with their direct colleagues and subordinates.

Manage any perceived resistance to the change.

Actively advocate the change.

Coach their teams through the change.

Become an intermediary: Liaise with the project teams who build the change and help keep them grounded in how well the change works with the frontline.

SENIOR EXECUTIVES/SPONSORS As those giving permission and approving funding for the change, top-level leaders of an organisation also have an essential role in giving frontline managers the support they need: •

Provide the organisational context for the change: the high-level reasoning and positive impact

We advise our clients always to acknowledge the frontline experience. However, one must go beyond simple verbal recognition and follow through with action to ensure their lives and careers are positively affected by the change – especially in these difficult times.

Sources: WEF | Business Tech | Forbes | Prosci

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SECTOR OVERVIEW

BANKS

SECTOR OVERVIEW

DIGITAL DISRUPTION BRINGS INNOVATION AND TRANSFORMATION TO THE SECTOR

BY SHUMIRAI CHIMOMBE

T

he South African banking sector continues to maintain its position as the largest on the African continent. As of September 2024 there are 28 banks operating in the country of which 11 are branches of foreign banks according to the South African Reserve Bank.

As of 2022, the combined tier 1 capital of the sector reached $42.2-billion according to Statista. In addition, the top four financial institutions in the country were among the 10 largest African banks in terms of asset value in the same year. The total assets of the banking sector represented around 88% of the South African GDP in 2020.

The banking sector has significantly increased its customer base in the last decade. In 2023, almost 86% of the adults in the country had a bank account, compared to about 64% in 2014. The population share with a banking account in South Africa is forecast to continuously increase between 2024 and 2029 by 8.7 percentage points. After the 15th consecutive increasing year, the banking account penetration is estimated to reach 96.62% and therefore a new peak in 2029. The penetration rate refers to the share of the total population with a bank account - Statista.

PwC South Africa has reported that the country’s major banks demonstrated a durable financial performance in the first half of 2024 amid complex operating conditions and elevated levels of uncertainty, reporting a combined headline earnings growth of 2.5% against the same period in 2023.

DIGITAL INCLUSION IN A TRANSFORMED BANKING LANDSCAPE The Banking Association of South Africa indicates that the banking landscape has seen a seismic shift over the past decade, driven largely by the rise of digital banking. Its rapid adoption is mainly due to increased mobile penetration and access to the internet, and a

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rising consumer appetite for convenience and efficiency, leading to a growing uptake of digital banking solutions spanning online, mobile, and USSD banking.

This has led to major transformation in the financial sector with increased inclusion with just over 44% of the country’s population reported using online banking in 2022. Online banking is expected to continue its growth trajectory in the coming years with fintech driving innovation and developing new technological banking solutions. At the same time the entry of new digital banks onto the financial landscape has increased competition, disrupting the status quo. In response, the major legacy banks have had to step up and undertake large-scale transformation programmes aimed at improving customer experience, digital transformation, new ways of working, and enterprise-wide cost reduction.

The major banks are not powerless to address this challenge posed by these new entrants, writes PwC South Africa.

“Unlike their challengers, they have the principal advantage of already serving a sizable share of the country’s retail and commercial customers. To maintain this advantage, and meet the challenge posed by fast-paced entrants, these universal banks will need to develop clear innovation strategies and operating models as well as embracing a culture that supports agility and measured risk-taking.

The future of banking in South Africa is dynamic and exciting. Agile new entrants with a differentiated value proposition and a business model focused on the monetisation of customer insights will compete head-on with universal banks reinvigorated by new innovation strategies. Not all banks will succeed in this new environment, but those quickest to adapt will benefit and capture a disproportionate share of the future banking market.”

SECTOR OVERVIEW

THE RISING DEMAND FOR NEW SKILLS The Banking Association of South Africa reports that the major legacy banks have been aggressively adapting their operations to remain competitive. In recent years they have invested heavily in upgrading their digital platforms, enhancing mobile apps, and implementing AI-driven solutions to streamline processes. This has enabled customers to conduct transactions, apply for loans, and manage their finances without visiting physical branches, leading to banks closing some of their physical branches.

This rapid digitalisation has led to a rising demand for new jobs with the banks now hunting for professionals with skills in technology, data analytics, and customer experience management.

OPPORTUNITIES FOR TRADITIONAL BANKS IN AN EVOLVING CUSTOMER LANDSCAPE Traditional banks in South Africa face significant challenges such as adapting legacy systems to meet modern digital demands and addressing cybersecurity risks. However, these challenges are counterbalanced by opportunities that will enable them to secure their competitive edge.

• Strategic partnerships: Collaborating with fintech companies (including start-ups) combines the agility of fintech with the trust and customer base of traditional banks.

• Data analytics: Leveraging data analytics can significantly enhance customer experience by offering personalised services and predictive insights. The use of data analytics has improved customer retention by 20%.

• Digital products and services: Traditional banks can innovate by introducing AI-driven chatbots for customer support, blockchain for secure transactions, and mobile apps for seamless banking.

• Meeting consumer expectations: Innovations meet changing consumer expectations and provide a competitive edge.

Source: “The future of digital banking in South Africa - KLA

TALENTS IN HIGH DEMAND INCLUDE: • Artificial intelligence and machine learning • Cloud engineering • Customer journey management • Cybersecurity engineers • Data engineering • Data science • Quantitative analytics • Risk management • Software engineering These skills are essential for ensuring smooth operations across digital channels and safeguarding customer data. They are also crucial for leveraging data-driven insights to enhance client experiences and streamline operations.

In addition to tech roles, power skills like critical thinking, problem-solving, and emotional intelligence are also in high demand, reflecting the need for employees to be agile and adaptive in a fast-changing environment.

Moreover, the demand for relationship managers and acquisition bankers indicates that despite the growth of digital platforms, personal relationships with clients remain important while supported by data analytics and digital tools.

THE BANKING SECTOR IN SA - A BIRD’S EYE VIEW

28 - number of banks operating in SA as of September 2024 11 - branches of foreign banks $42.2-BILLION - the combined tier 1 capital of the sector 88% - contribution of the sector’s total assets to GDP 86% - adults with a bank account (2023) 44% - SA population using mobile or

internet banking to send money (2022)

Sources: South African Reserve Bank/Statista

Sources: South African Reserve Bank | Statista | PwC South Africa | The Banking Association of South Africa | KLA 14TH 14TH EDITION EDITION || TOP500 TOP500 || 127 119

SECTOR OVERVIEW

SECTOR OVERVIEW

CONSULTING ENGINEERING, MINING AND INFRASTRUCTURE THE ECONOMIC ENGINE OF GROWTH IN SA

BY SHUMIRAI CHIMOMBE

CONSULTING ENGINEERING: A HIGH VALUE-ADDING SECTOR Mining and infrastructure are key to the growth of consulting engineering as both sectors require the skills and services of this industry. This demand is likely to increase significantly with new projects coming onstream thanks to the roll-out of the government’s infrastructure investment programme to build a critical network infrastructure such as ports, roads and rail, energy and power, and real estate across the country. An increase in demand for high-value natural resources will also boost investment in the mining industry.

The construction sector offers the largest amount of business opportunities for consulting engineering.

South Africa is at the forefront in generating new construction projects in Africa, with the sector contributing an annualised added value of R109.5 billion to the GDP in the fourth quarter of 2023 according to Statista, and 3% to total output. The government has historically been the largest provider of the major construction contracts in the country where the input of consulting engineers is much more required.

The Who Owns Whom (WOW) Consulting Engineering Services in South Africa - July 2022 report indicates that this is a high-value-adding sector in the economy which leads to innovations and productivity enhancements in a very diverse range of industries including energy generation, oil refining, innovative technologies in recycling and water treatment, electronics design, and wireless transmissions.

The shift to the private sector and looking to the future Consulting engineering companies, like others that are reliant on government business, had to face difficult adjustments over several years due to a reduction in public sector contracts.

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The WOW report highlights that more and more consulting engineers have moved into working in the private sector such as in mining and alternative energy. However, this trend has the potential to change with the roll-out of the government’s Infrastructure Investment Plan 2050. Furthermore, long-term demand from other African countries mainly for infrastructure development will significantly benefit the consulting engineering industry.

CONSULTING ENGINEERING IN NUMBERS The Bi-Annual Economic and Capacity Survey for June 2024 released by Consulting Engineers South Africa (CESA) offers an analysis of the industry based on feedback from 45 participating firms.

3%

R2.7 BILLION

total fee income

4,646

increase in employment

people employed

7.7%

18%

consulting services outsourced

3.6%

rise in earnings compared to the last half of 2023

growth in real earnings year-on-year, driven mainly by private sector projects

20.3%

portion of this outsourcing directed to black-owned enterprises

SECTOR OVERVIEW

The challenges faced by the industry included declining capacity utilisation signalling a reduction in workload, increased competition, and project cancellations.

Despite these challenges the overall outlook for the consulting engineering industry appears cautiously optimistic with firms expecting better conditions in the near future.

MINING: AN ECONOMIC PILLAR AND A PROVIDER TO COMMUNITIES South Africa has long been known for its vast wealth in mineral resources and a robust mining industry that is a key contributor to the country’s economy and a major employer. It contributed some R202 billion (roughly $10.9 billion) to the country’s GDP in 2023, and the total value of mining industry merger and acquisition transactions in South Africa reached nearly $1.5 billion according to Statista. In 2023, South Africa’s platinum group metal production amounted to 239.9 metric tons.

Platinum group metals include platinum, palladium, rhodium, ruthenium, osmium, and iridium.

The PwC South Africa publication, SA Mine 2024, indicates that the South African mining sector saw a significant increase in deal values. The increase is in line with global trends driven by the increased need for critical minerals that are essential for the energy transition. In South Africa, the deal-critical mineral of focus was copper which experienced excellent price performance. Other reasons for the upturn in deal values include consolidation and operational synergies within the industry, as well as diversification and strategic realignment.

MINING BY NUMBERS

R202.1 BILLION - contribution by the mining sector to SA’s GDP

7.53% - mining sector’s contribution to GDP

477 000 - people employed in the mining industry in 2023 181 806 - people employed in the platinum group metals mining industry in 2023 91 000 - people employed by coal mining in 2022 239.9 - metric tons produced by South Africa’s platinum groups 23% - of South Africa’s global exports accounted for by platinum exports in 2022 26% - of the mineral mining revenue accounted for by coal in 2023

Source: Statista

MINERAL PRODUCTION IN SOUTH AFRICA IN 2023 BY COMMODITY

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MINING PRODUCTION - AUGUST 2024 y/y percentage change June-24 -3,5

July-24

Aug-24

-1,0

0,3

m/m percentage change June-24 -1,8

July-24

Aug-24

-0,8

2,9

3 month June-Aug-24 -1,4 Source: Stats SA monthly indicators October 2024

Stats SA reports that nationally, mining activity increased by a marginal 0,3% year-on-year in August 2024. Manganese ore, platinum group metals and chromium ore were the largest drivers of growth.

Nickel and copper also recorded a good month.

Looking to the future Mining companies play a pivotal role in the communities they operate in. They are significant employers and are central to driving the economies around them. In addition, communities benefit from other services provided by mining companies such as clean water and infrastructure. PwC South Africa points out that it is therefore crucial to start thinking and planning for a mining sector that is sustainable when operations close and that, where possible, uses available technologies to improve safety, productivity and efficiencies to extend the life of its mines.

INFRASTRUCTURE - SCALING UP PUBLIC-PRIVATE PARTNERSHIPS

INFRASTRUCTURE IN BRIEF • Higher investment and more effective delivery of infrastructure are needed to grow the economy and create jobs • Government is reforming its approach to infrastructure development, focusing on partnerships with the private sector • Lessons from other successful programmes will be used to accelerate infrastructure delivery and adapt institutions • In addition to scaling up private sector participation, the proposed reforms are designed to ensure coordinated decision making and promote climate resilience 2024 Medium Term Budget Policy Statement

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In the 2024 Medium Term Budget Policy Statement (MTBPS) delivered on 30 October, Minister Enoch Godongwana stated that over the medium term, government is transforming its approach to public-sector infrastructure by creating the conditions to attract private-sector participation.

“Beginning in 2025/26, the National Treasury will combine project preparation support, transaction advice for public-private partnership (PPP) projects and ringfenced financing from government borrowing in a single structure.

“The consolidation of project preparation and financial structuring functions will strengthen planning and preparation, helping large-scale projects and programmes to reach financial close faster. In addition, the National Treasury will make greater use of financial instruments such as dedicated bilateral loans, concessional financing and infrastructure bonds to fund large infrastructure projects. Engagements with the private sector, including by sourcing technical skills and facilitating contracting arrangements, will underpin delivery.”

Consulting Engineers South Africa (CESA) welcomed the MTBPS’ focus on infrastructure with CESA CEO Chris Campbell stating that “If we intend to spend money on infrastructure, we must recognise that without adequate funding, we risk stagnation in economic growth and further decline.”

He reaffirmed CESA’s commitment to collaborating with government and industry stakeholders to drive meaningful change and enhance South Africa’s economic landscape.

The reforms that the MTBPS spelled out echoed the plans that the Minister of Public Works and Infrastructure, Dean Macpherson stated in his 2024/25 budget policy speech.

He said that the Department of Public Works and Infrastructure (DPWI) will play a leading role in growing an inclusive South African economy through infrastructure-led growth - infrastructure becoming a top priority by putting in place measures that will increase the ratio of gross fixed capital formation from 14% to 30% of GDP. He also stressed that the DPWI will “work relentlessly to build new public-private partnerships to roll out new energy, communication, water, and transport infrastructure. Amplify the SDGs’ use and impact by leveraging private sector involvement through procurement.

SECTOR OVERVIEW

“Infrastructure serves as the foundation of a nations’ economy by providing the necessary physical and social systems for sustained growth and development.

Through the infrastructure networks, we can improve productivity, attract investment, and enhance the overall well-being of every South African,” he added.

SCALING UP PRIVATE SECTOR PARTICIPATION The Medium Term Budget Policy Statement outlined a series of reforms which are under way that are expected to enable greater private-sector participation in public infrastructure projects.

Credit enhancements to mobilise private finance Government is developing a blended financing risk-sharing platform which will include a credit guarantee vehicle to help de-risk public-sector projects – starting with the energy sector – for private-sector developers and lenders. The initial focus will be on independent transmission projects to bridge the energy transmission deficit. The vehicle is expected to be operational by the end of 2025.

Increasing private participation in transactions The Department of Water and Sanitation Water Partnerships Office has two priority programmes for non-revenue water (the revenue lost from leaking water infrastructure) and recycling wastewater for different uses. The private sector can participate

ENHANCE PRIVATESECTOR PARTICIPATION • Revise public-private partnership regulation • Take a programmatic approach to private sector participation • Augment balance sheets of Eskom and Transnet

through performance-based contracts and public-private-partnerships (PPPs).

To improve passenger rail services, Transnet and the Passenger Rail Agency of South Africa are finalising a list of priority projects. Transaction advisors will then be appointed to structure the transactions and prepare requests for proposals, which will be issued to the market in 2025/26.

Implementing the PPP review recommendations The 2024 national Budget outlined reforms to the PPP regulations to accelerate infrastructure delivery. The new regulations will reduce procedural complexity in PPP implementation and close regulatory gaps. Regulations relating to unsolicited proposals will make it easier for a private company to make a proposal to the public sector for an investment opportunity.

Grant reforms to support sustainable urban development Electricity, water, sanitation and waste management services are normally supplied through trading services. Detailed reforms are being rolled out and in 2025/26, government will create a performance-based conditional grant to trigger these changes to improve the functioning of trading services.

IMPLEMENT BUDGET REFORMS • Reconfigure capital budgeting • Reform inf rastructure conditional grants to improve performance • Increase efficiency in disbursement of immediate response disaster grants

INCREASE INFRASTRUCTURE FINANCE • Enhance credit to de-risk projects and mobilise funding • Create an infrastructure asset class to crowd in new investors • Increase liquidity for immediate response to disasters

INFRASTRUCTURE PROCUREMENT MONITOR, REVIEW AND EVALUATE 2024 Medium Term Budget Policy Statement Sources: Consulting Engineers South Africa (CESA) | Engineering News | Who Owns Whom (WOW) | African Business Information | PwC South Africa | Statista | Stats SA | National Treasury

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SECTOR OVERVIEW

MANUFACTURING

SECTOR OVERVIEW

A MAJOR CONTRIBUTOR TO SOUTH AFRICA’S ECONOMY AND JOB CREATION

BY SHUMIRAI CHIMOMBE

“Following a challenging 2023, South Africa’s manufacturing sector must prioritise digital transformation, cost reduction and reskilling to drive growth.

Significant future growth opportunities available through localisation and workforce upskilling will boost the country’s competitive advantage and attract new investment and needed employment opportunities.

PwC South Africa Manufacturing Analysis 2024

S

outh Africa boasts a well-developed manufacturing sector. The PwC’s South Africa Manufacturing Analysis 2024 reports that in 2023, the sector in its entirety provided more than 1.6 million jobs and accounted for 13% of South Africa’s gross domestic product (GDP).

The sector will continue to play a major role in the economy with a nominal GDP forecast to grow by an average of 5.7% per annum over the next decade.

South Africa’s manufacturing sector also carries weight globally. In 2022, the country ranked 51st out of 153 countries in the United Nations Industrial Development Organisation (UNIDO) Competitive Industrial Performance (CIP) Index.

This measurement evaluates 153 countries’ capacity to produce and export manufactured goods, their technological progress, and their global influence on

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manufacturing activity. It placed South Africa within the top third of manufacturing economies globally.

Exports drive the sector’s significant contribution to the economy. South Africa exported R403billion worth of machinery and complex manufactured products including medical and transport equipment in 2023, accounting for 19.7% of total goods exports. This reflects the country’s industrialised and advanced factory environment that produces high-tech and precision equipment for domestic and international use.

The sector has consistently represented a sizable part of the country’s labour market, contributing more than 11.0% of total employment for many decades, and providing a large volume of semiskilled and skilled jobs.

Manufacturing is often skills-intensive. In its Manufacturing Workforce 2023 publication, PwC highlights the importance of upskilling workers in new technologies and the need to create a digitally-enabled and connected workforce.

Technologies such as virtual reality (VR) and augmented reality (AR) are becoming popular tools in workforce training and development by enabling workers to simulate real-world scenarios in a controlled environment, providing them with hands-on experience.

According to data from Statistics South Africa, the food and beverage sub-sector was the largest contributor to sales (22.3%) in the last quarter of 2023 (October-December), followed by basic iron

SECTOR OVERVIEW

and steel, non-ferrous metal products, metal products and machinery (20.9%) and petroleum, chemical products, rubber and plastic products (20.1%).

Manufacturing production increased by 2,6% in January 2024 compared with January 2023. The largest positive contributions were made by the following divisions: • petroleum, chemical products, rubber and plastic products (13,6% and contributing 2,9 percentage points) • wood and wood products, paper, publishing and printing (5,0% and contributing 0,5 of a percentage point) • textiles, clothing, leather and footwear (6,6% and contributing 0,2 of a percentage point) • glass and non-metallic mineral products (5,2% and contributing 0,2 of a percentage point) Seasonally adjusted manufacturing production increased by 0,8% in January 2024 compared with December 2023. This followed month-on-month changes of -1,3% in December 2023 and 0,9% in November 2023.

January 2024 compared with the previous three months. Seven of the ten manufacturing divisions reported positive growth rates over this period. The largest positive contribution was made by the food and beverages division (3,3% and contributing 0,7 of a percentage point).

SECTOR HIGHLIGHTS IN 2023 Ranked 51st out of 153 COUNTRIES in the UNIDO Competitive Industrial Performance (CIP) Index Manufacturing workers earned

R614 BILLION in salaries and wages Factories employed

1.6 MILLION workers Exporting a wide variety of vehicles to 148 COUNTRIES

Seasonally adjusted manufacturing production increased by 0,2% in the three months ended

Exported R403 BILLION worth of machinery and complex manufactured products, accounting for 19.7% of total goods exports

MANUFACTURING CONTRIBUTION TO SALES OF EACH SUBSECTOR , OCTOBER TO DECEMBER 2023

Manufacturing contributed 13,0% of gross domestic product (GDP) Source: PwC South Africa Manufacturing Analysis 2024

22.3% - Food and beverages 20.9% - Basic iron & steel, non ferrous metal products, metal products & machinery 20.1% - Petroleum, chemical products, rubber and plastic products 17.8% - Motor vehicles, parts and accessories and other transport equipment

18.8% - Other Source: Stats SA

The food processing industry is significant in its contribution to economic growth, job creation and international trade. Employment in the food industry increased by 1,9% in 2022 from a 0,8% growth in 2021 according to the Department of Agriculture, Land reform and Rural Development. As a result, a further 4 160 jobs were created in 2022 compared to 1 635 jobs created in 2021. Agro-processing is one of the sectors that is included in the government’s National Development Plan 2030 strategies to enable inclusive and efficient agricultural and food systems to increase employment and growth.

Sources: PwC South Africa Manufacturing Analysis 2024 | StatsSA | Department of Agriculture, Land reform and Rural Development 14THEDITION EDITION||TOP500 TOP500||125 131 14TH

ROAD FREIGHT

SECTOR OVERVIEW

DRIVING SOUTH AFRICA’S LOGISTICS INDUSTRY

BY SHUMIRAI CHIMOMBE

T

he road freight sector remains the backbone of national logistics operations and currently accounts for 83.6% of all freight payload in South Africa. Road freight recovered further in May 2024, the third consecutive positive monthly growth rate following a downward trend that lasted almost a year as indicated by the Ctrack Transport and Freight Index (Ctrack TFI). The sector increased by 2.7% on a monthly basis in May against 4.5% in April and is up a notable 8.6% on a quarterly basis.

The sector continues to benefit from the ongoing underperformance of the rail industry. Stats SA recorded that rail freight payloads decreased in 2022 and picked up in 2023, while that of road freight increased between 2021 and 2023.

The payload transported on rail increased by 2.7% to 160.3 million tons in 2023 from 156.1 million tons in 2022, while that of roads increased by 1.2% to 862.5 million tons in 2023 from 852.6 million tons in 2022.

The proportion of payload transported on road stood at about 65%.

The Freight Transport by Road Industry in South Africa 2023 report by Research and Markets gives a comprehensive overview of the road freight sector, highlighting the strengths, weaknesses, opportunities, threats and outlook for the future.

SOME KEY POINTS: Strengths • Well supported by information technology and innovative technologies for logistics management.

• Collaborative and mutually-beneficial industry partnerships streamline the supply chain process.

• Flexible planning of routes or intermediate stops.

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• •

•

• •

•

• •

Globally-competitive multinational companies provide total supply chain service It benefits other modes of transport via water, air or rail, as they require additional road transport to get the goods from the port, airport or train station to the destination or departure site.

No other means of transport has access to a comparable infrastructure, and the range and flexibility of road freight offers almost unlimited possibilities for getting goods from one place to another.

Not dependent on logistical hubs such as ports, airports, or train stations.

Road freight, despite increasing costs, is still more efficient than rail freight due to existing infrastructure and comparatively low-cost transportation equipment.

Road vehicles can be used for intermodal transport, where, when loaded, they can travel on ships or be transported by rail on special wagons preventing time-consuming reloading.

The road freight industry is flexible and able to deliver goods door-to-door, and there is hardly any destination that is not accessible by road.

The vast majority of goods moved in South Africa are transported by road.

Opportunities • Challenges currently being faced by rail transport have resulted in increased market share for road freight operators.

• Government’s planned investment in infrastructure projects should strengthen the logistics and road transport corridors and improve access to ports.

• Government economic stimulus projects will increase mining, manufacturing and agricultural outputs requiring transportation.

• The rise in e-commerce will result in an increase in demand for warehousing and logistics hubs.

• Infrastructure projects and regional agreements

SECTOR OVERVIEW

FREIGHT TRANSPORTATION (INCOME AT CURRENT PRICES)

•

•

will increase trade in goods requiring transportation, harmonise customs regulations, reduce border post delays and improve road infrastructure.

Opportunities_ for owner-driver, franchise schemes or subcontracting and empowerment partnerships as B-BBEE partners with large companies.

Growing trade, rapid advancements in technology and the rising role of e-commerce are expected to fuel the road freight transport market.

Challenges and potential solutions Despite its dominance of the freight and logistics sector, road freight is faced by some challenges that significantly impact on the transportation companies, their employees and the economy.

Challenge Ever-rising fuel prices

SEASONALLY ADJUSTED PAYLOAD FOR THE LATEST THREE MONTHS BY TYPE OF TRANSPORT UP TO JULY 2024

Potential solution Investing in fuel-efficient vehicles. This will also reduce emissions of gases that threaten the environment

Developing and maintaining roads as well as improving connectivity to other regions can help in overcoming several challenges including • Reduced cost of vehicle maintenance Deterioration or Hijacking of trucks due • lack of proper to bad roads can infrastructure in be resolved some parts of • Accidents caused the country by bad roads will be reduced Reduced time in • moving cargo from one destination to another Reduced cost of cargo • and driver insurance Lack of skilled professionals

Investing in training and development to improve employees’ skill set

Road safety concerns

Use cost-effective insurance to cover the loss caused accidents

Source: Dovetail Business Solutions

Seasonally adjusted payload decreased by 3,5% in the three months ended July 2024 compared with the previous three months. Road freight decreased by 4,8% (contributing -4,0 percentage points) while rail freight increased by 2,8% (contributing 0,5 of a percentage point) Source: Stats SA statistical release - Land transport - July 2024

SEASONALLY ADJUSTED FREIGHT TRANSPORTATION (INCOME AT CURRENT PRICES)

Source: Stats SA statistical release - Land transport - July 2024

Sources: Research and Markets/Department of Transport /StatsSA/CTrack/Dovetail

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SECTOR OVERVIEW

TELECOMMUNICATIONS (WIRELESS) MOBILE VOICE AND DATA DOMINATE, REFLECTING EVOLVING CONSUMER NEEDS

BY SHUMIRAI CHIMOMBE

T

he South African telecom market revenue is expected at a CAGR of 5.32% over the next five years. Due to emerging technology (including artificial intelligence and the internet of things) and the COVID-19 pandemic, data requirements have recently increased particularly swiftly Mordor Intelligence

Mobile lines dominate the telecommunications space, accounting for almost two-thirds of income for the sector according to StatsSA. In 2022 mobile voice and data were the largest contributors to mobile lines, with SMS services showing a decline of 24% per annum, the second largest decrease in the sector. ADSL, which had been the largest generator of income in the internet access services category in 2019 declined sharply to third place.

It was replaced by fibre-optic broadband which expanded by more than three-fold - a reflection of the changes in user trends and demand for services such as e-commerce, and smooth uploading and downloading of videos, podcasts, images and other information without interruptions.

Voice services (fixed and mobile), line rental, interconnection services and satellite-provide services also recorded decreases in this period.

Stronger results were recorded for items related to the transmission and consumption of data, including fixed line data, fibre-optic broadband, mobile data, content subscription and data transmission services.

According to the Telecommunications in South Africa Industry Report by Mordor Intelligence, the surge in demand for data is credited to the country’s efforts in enhancing its telecommunications infrastructure, notably through 4G and 5G network expansions. The mobile segment is transforming, with an increase in smartphone subscriptions driven by telecommunications companies offering

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diverse data and voice packages. These companies are also evolving in a competitive landscape, aiming to improve service delivery and extend coverage, aligning with national objectives to elevate broadband speeds and accessibility, and fostering a digitally inclusive society.

Recently, the country’s emphasis has been on fiber and LTE networks and backup capacity to increase and improve internet service connectivity.

Notably, as a result of the limited availability and poor quality of fixed-line networks, which left many people with no choice but to use mobile networks for voice and data services, the mobile industry has experienced rapid growth in recent years.

The South African telecom market is expected to grow on the back of LTE/LTE-A and 5G connectivity.

This is especially true now that the government has announced that it will shut down 2G and 3G networks over the next three years. Several roaming agreements in the market will further support development in the cellular sector allowing the operators to use the extra airwaves to increase the size and extent of their coverage.

ROLL OUT OF 5G PROPELS SA’S FOURTH INDUSTRIAL REVOLUTION 5G is essential for the major digital platform ecosystems to drive South Africa’s fourth industrial revolution. The major mobile network carriers have already installed 5G networks to satisfy the country’s huge rise in traffic for internet services. The Independent Communications Authority of South Africa (ICASA) concluded an auction of spectrum in the 700MHz, 800MHz, 2.6GHz, and 3.5GHz frequency bands for 5G services, in which all operators actively participated. According to the auction’s rules, operators must reach population coverage of up to 80% to 97% within five years.

SECTOR OVERVIEW

Mobile lines generate the bulk of services income in the telecommunications sector

Source: Post and telecommunication

SOUTH AFRICA TELECOM MARKET SIZE (2024 - 2029) The telecommunications market size in South Af rica is poised for growth, driven by increased demand for advanced connectivity solutions such as LTE and 5G. The transition f rom copper to fiber networks and the government’s initiatives to enhance broadband inf rastructure are pivotal in this expansion. Despite challenges posed by the pandemic and macroeconomic disruptions, the market has shown resilience, with a notable shift towards mobile networks due to limited fixed-line options. The recent spectrum auctions and regulatory advancements further underscore the country’s commitment to maximizing the economic potential of its telecom sector, ensuring it remains competitive in the digital age.

Source: https://www.mordorintelligence.com/industryreports/south-africa-telecom-market/market-size

WIDE WIRELESS PENETRATION INCREASES DIGITAL INCLUSION IN THE ECONOMY Smartphones continue to rule the market as they quickly replace feature phones. The mobile connection has the potential to accelerate the digital transformation of the country and drive socioeconomic development, reports Mordor Intelligence.

Africa is indeed experiencing a mobile phone revolution. With more than 100 million subscribers South Africa is the largest mobile phone market in Africa, thanks to its expanding economy. Following South Africa are Nigeria, Egypt, and Morocco. In the following five years, mobile phone sales in the country are expected to more than double. The growth of local and regional economies and the expansion of service providers’ networks in the area are anticipated to support the increase.

According to ICASA research, the most popular choice for mobile voice services in South Africa is unquestionably prepaid subscriptions, making up more than 84% of all cellular voice subscriptions for mobile devices.

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SECTOR OVERVIEW

R billion

The great switch: fibre optic broadband overtakes ADSL 20

10

0 2019

Source: Post and telecommunication

South Africa telecom market size summary The telecommunications industry in South Africa is experiencing significant growth, driven by the increasing demand for advanced connectivity solutions such as fiber, LTE, and 5G networks. The market is undergoing a transformation as the government and major telecom operators focus on enhancing internet service connectivity and expanding mobile network coverage. The transition from copper to fiber networks is a key trend, with Telkom leading the charge by phasing out its copper

network. The rapid growth of the mobile industry is attributed to the limited availability and quality of fixed-line networks, prompting a shift towards mobile networks for voice and data services. The recent spectrum auction has further bolstered the market, enabling operators to expand their coverage and improve service quality, particularly in underserved areas.

Digital transformation is a central theme in South Africa’s telecom sector, with significant efforts underway to improve 5G legislation and regulations.

The rollout of 5G infrastructure is seen as crucial for driving the country’s 2022 fourth industrial revolution, with major carriers investing in network expansion to meet the rising demand for internet services. The government’s initiatives to expedite spectrum auctions and allocate new bands are expected to enhance the capacity and speed of 5G networks, facilitating economic recovery and digital transformation. The market is moderately fragmented, with key players actively participating in network expansion and digital solution offerings, aiming to leverage mobile connectivity for socio-economic development and improved service delivery.

Sources: https://www.mordorintelligence.com/industryreports/south-africa-telecom-market/market-size

Images: istock.com/ipopba

Income from data services has risen while voice, SMS and ADSL have declined

Source: Post and telecommunication

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SECTOR OVERVIEW

RETAIL SOFT GOODS THE STELLAR RISE OF E-COMMERCE

BY SHUMIRAI CHIMOMBE

R

etail is the third-largest sector with retail trade sales representing close to 20% of South Africa’s GDP. It is also the second largest employer after the government, making it a key factor in the country’s economy.

In its Retail Trade Sales Statistical Release for August 2024, StatsSA reported that retail trade sales increased by 3,0% in the three months ended August 2024 compared with the three months ended August 2023.

The largest contributors to this increase were general dealers (4,8%, contributing 2,1 percentage points) and retailers in textiles, clothing, footwear and leather goods representing 3,7% and contributing 0,6% of a percentage point.

Seasonally adjusted retail trade sales increased by 1,4% in the three months ended August 2024 compared with the previous three months. The largest contributors to the increase were retailers in textiles, clothing, footwear and leather goods with 4,6% and contributing 0,8 of a percentage point.

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According to the Clothing Industry in South Africa 2023 report by Research and Markets, the clothing industry has shown resilience in the face of rising inflation, pressure on disposable income and global supply chain challenges.

Retailers are focusing on local manufacturing to bring prices down and shorten lead times to bring fashion to the market.

The government regards the clothing and textile sector as a strategic industry. Due to their labour-absorbing character with a potential for significant job creation, the textile, clothing, footwear, leather and general goods sectors remain a priority for the government, and it has introduced initiatives aimed at improving domestic textile products, processes, and delivery efficiencies. The opportunities for growth of the sector include a growing youth population that ensures high demand for clothing. The growth in online shopping means new companies are able to sell online without having a store presence. The sector presents low barriers to entry for designers and entrepreneurs which presents the potential to create jobs.

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convenience for customers. This has also led to faster transaction speeds and DIGITAL TRANSFORMATION: THEboth RISEonline OF dramatically improved efficiency E-COMMERCE AND OMNICHANNEL PRESENCE and in-store retail.

The COVID-19 pandemic was instrumental in accelerating the shift towardsEXPERIENCES: digital platforms, PERSONALISED SHOPPING resulting in e-commerce becoming a primary LEVERAGING DATA ANALYTICS AND AI channel rather than a supplementary one.

This Thanks to the advent of big data and AI, retailers has led to a profound transformation in the can now offer highly personalised shoppingretail sector as traditional retailers have had to invest experiences.

By analysing customer data, heavily in digital infrastructure and develop businesses can tailor their marketing strategies, strong omnichannel strategies topromotions stay relevant product recommendations, and and competitive.

Omnichannel strategies to individual preferences. This personalisation involve having an integrated approach to create increases customer satisfaction and drives repeat apurchases, seamless, personalised forin the reports DHL’sexperience Retail Trends South Africa. customer across all the brand’s touchpoints, including in-store, online, and mobile. This allows Retailers are usingtheir datashopping analytics to understand customers to start journey on one consumer behaviour and predict trends; to platform and complete it on another. manage inventory more effectively; to ensure that popular products are always in stock;digital and to According to the firm Malander Advisory, improve their pricing strategies.

This ensures that and e-commerce now account for approximately they can continue to have a competitive edge 10.5% of total retail sales, up from 8.3% in 2023. on the retailby landscape.

Research KLA reveals a significant surge in click-and-collect shopping, with 37% opting for online orders and in-store pickups.

FASHION IN SOUTH AFRICA

SECTOR OVERVIEW

SUSTAINABILITY AND ETHICAL SHOPPING: SHIFTS IN CONSUMER PREFERENCES South African consumers are increasingly environmentally conscious resulting in growing demand for SERVICE sustainable and OF ethical CUSTOMER - Aproducts KEY DRIVER and green business practices.

This is influencing CUSTOMER LOYALTY their shopping habits andWorx theirthere choices which According to World Wide is aof clear retailers Retailers are responding hierarchytoofsupport. factors that consumers consider by adopting eco-friendly such as reducing crucial to the success ofpractices, online retail activities. plastic use, sourcing sustainable products, and Customer service emerges as the preeminent factor, supporting local suppliers.

This trend not only valued by nearly three-quarters of respondents appeals to environmentally conscious shoppers (73,9%). This indicates that effective communication, but it also presents opportunities retailers to prompt responses, and resolution of for issues are likely perceived as essential components of a positive online differentiate themselves in a competitive market. shopping experience. The emphasis on customer service underscores its role in building trust and ADVANCED PAYMENT SOLUTIONS: MORE loyalty, whichAND are critical in the competitive SEAMLESS SECURE WAYS TO PAY online marketplace.

Cashless and contactless payments, mobile

wallets and mobile app-enabled payments such as QR codes - these innovations have transformed OPPORTUNITIES FOR TRADITIONAL retail transactions, bringing unprecedented BANKS IN AN EVOLVING CUSTOMER LANDSCAPE • Revenue in the retail delivery market in IMPORTANT FACTORS TO THE SUCCESS South Af rica is projected to reach $852 OF ONLINE million inRETAIL 2024 • It is expected to show an annual growth service - 73,9% rate Customer (CAGR 2024-2029) of 11.16%, resulting in a projected market volume of $1.45 billion by 2029 Stock availability - 54,8% • By 2029, the number of users in the retail delivery market to amount to Wide range is of expected products/quality 6.5 million users of product - 44,7% • The user penetration in 2024 is estimated to be 7.8% and is expected to Competitive pricing - 25,1% increase to 10.1% by 2029 • The Personalisation average revenue user (ARPU) is ofper offer - 21,1% projected to be $178.20 • The rise of e-commerce platforms in Wide range of payment options - 18,1% South Af rica has revolutionised the retail delivery market, offering convenience range of delivery options and Wide a wider range of products to and consumers speed delivery - 9,1%

The •Online RetailinReport Southmarket Africa is 2024 by Revenue the fashion World Wide Worx,toinreach partnership with Mastercard, projected $885.70-million in 2024 Peach Payments, and Ask Afrika has revealed • Revenue is expected show online an annual significant growth in South to Africa’s retail growthsurged rate (CAGR 2024-2029) of 11.43%, sector, which to R71-billion in 2023.

This resulting in a projected market volume remarkable growth represents a 29% increaseof $1.52-billion by 2029 from 2022, positioning the sector to surpass • With a projected market volume of the R100 billion mark by 2026 and approaching $236.80-billion in 2024, most revenue is the 10%generated mark of total retail. This comes after

by China 35% •growth the previous year took the total to The number of users is expected to R55-billion in 2022.

“Whereas the boom in sales amount to 10.7 million by 2029 two •years ago could be attributable User penetration will be 14.3%to inwhat 2024 was termed the “pandemic dividend”, brought and is expected to hit 17.1% by 2029 about a massive for user home deliveries • by The average demand revenue per (ARPU) is beginning in 2020, ongoing rise was driven expected to the amount to$125.90 Source: Statista by competitive e-commerce strategies from Source: Statista None of these - 5% most major physical retailers, existing e-shoppers moving more of their traditional shopping to the online space, and credit card payment processing Source: Online Retail Report South Africa 2024, Sources: Stats SA | Research and Markets (LRS) | World Wide Worx | South African | Business becoming more streamlined’, wrote| Labour ArthurResearch Service Wide Worx Integrator | Malander Advisory | DHL Retail Trends in South Africa |World Businesswire Goldstuck, CEO of World Wide Worx.

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Images: istock.com/gorodenkoff

SECTOR OVERVIEW

SECTOR OVERVIEW

convenience for customers. This has also led to faster transaction speeds and dramatically improved efficiency both online and in-store retail.

Retailers are using data analytics to understand consumer behaviour and predict trends; to manage inventory more effectively; to ensure that popular products are always in stock; and to improve their pricing strategies. This ensures that they can continue to have a competitive edge on the retail landscape.

FASHION IN SOUTH AFRICA • Revenue in the fashion market is projected to reach $885.70-million in 2024 • Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 11.43%, resulting in a projected market volume of $1.52-billion by 2029 • With a projected market volume of $236.80-billion in 2024, most revenue is generated by China • The number of users is expected to amount to 10.7 million by 2029 • User penetration will be 14.3% in 2024 and is expected to hit 17.1% by 2029 • The average revenue per user (ARPU) is expected to amount to$125.90 Source: Statista

CUSTOMER SERVICE - A KEY DRIVER OF CUSTOMER LOYALTY According to World Wide Worx there is a clear hierarchy of factors that consumers consider crucial to the success of online retail activities.

Customer service emerges as the preeminent factor, valued by nearly three-quarters of respondents (73,9%). This indicates that effective communication, prompt responses, and resolution of issues are likely perceived as essential components of a positive online shopping experience. The emphasis on customer service underscores its role in building trust and loyalty, which are critical in the competitive online marketplace.

OPPORTUNITIES FOR TRADITIONAL BANKS IN AN EVOLVING CUSTOMER LANDSCAPE • Revenue in the retail delivery market in South Af rica is projected to reach $852 million in 2024 • It is expected to show an annual growth rate (CAGR 2024-2029) of 11.16%, resulting in a projected market volume of $1.45 billion by 2029 • By 2029, the number of users in the retail delivery market is expected to amount to 6.5 million users • The user penetration in 2024 is estimated to be 7.8% and is expected to increase to 10.1% by 2029 • The average revenue per user (ARPU) is projected to be $178.20 • The rise of e-commerce platforms in South Af rica has revolutionised the retail delivery market, offering convenience and a wider range of products to consumers Source: Statista

Sources: Stats SA | Research and Markets | Labour Research Service (LRS) | World Wide Worx | South African | Business Integrator | Malander Advisory | DHL Retail Trends in South Africa | Businesswire

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Images: istock.com/gorodenkoff

PERSONALISED SHOPPING EXPERIENCES: LEVERAGING DATA ANALYTICS AND AI Thanks to the advent of big data and AI, retailers can now offer highly personalised shopping experiences. By analysing customer data, businesses can tailor their marketing strategies, product recommendations, and promotions to individual preferences. This personalisation increases customer satisfaction and drives repeat purchases, reports DHL’s Retail Trends in South Africa.

LIFE INSURANCE

SECTOR OVERVIEW

REAPING THE REWARDS OF RESILIENCE IN TURBULENT TIMES

BY SHUMIRAI CHIMOMBE

T

he life insurance market in South Africa has been experiencing significant growth and development in recent years. The South Africa Life Insurance Market Research Report by GlobalData indicates that in 2023 the gross written premium (GWP) of the market was R614.7 billion ($36.7 billion) and is expected to achieve a CAGR of more than 5% during 2024-2028.

This growth in demand is attributed to the growing awareness of the need for financial protection and the rising middle class. According to Statista, customers are increasingly seeking life insurance products that offer not only financial protection but also investment opportunities and additional benefits such as health and wellness perks. This shift in preferences is driving insurance companies to innovate and offer more comprehensive and customisable life insurance solutions to cater to the evolving needs of the market.

One notable trend in the South African life insurance market is the growing popularity of digital insurance platforms and online distribution channels. Consumers are increasingly turning to digital channels to research, compare, and purchase life insurance policies, prompting insurance providers to enhance their online presence and offer seamless digital experiences.

Additionally, there is a rising demand for sustainable and ESG (Environmental, Social, and Governance) focused life insurance products, reflecting a broader global trend towards responsible investing and ethical consumerism. - Statista The South African Insurance Industry Survey 2024 by KPMG states that the 2023 financial results of insurers

142| |TOP500 TOP500 | 14TH EDITION 134 | 14TH EDITION

who participated in the survey show a welcome reprieve from the challenges they faced over the last few years.

The sector was significantly affected by events such the COVID-19 pandemic in 2020, the Kwa-Zulu Natal and Gauteng riots in 2021, the floods in KZN in 2022, and other ongoing infrastructural challenges. As a result, these were some of the toughest years experienced by the insurance industry, which tested the resilience and core purpose of the sector. However, the strict measures that the insurers put in place to restore profitability have started to reap the benefits they set out to achieve.

“The industry stood up to the challenges of the last few years masterfully and there continues to be a lot to be achieved in the coming years. Life insurers will continue to assess how best to grow profitably and outmanoeuvre their competition. There is no doubt that new and emerging technologies could offer a host of potential benefits to those that are willing to embrace change. Integrating these technologies could enable precise predictions, manage customer interactions and expand the personalised service and product lines with unprecedented accuracy and speed.”

RISING TRENDS IN THE MARKET The life insurance market research report by GlobalData shows that the key distribution channels in the South African industry are banks, direct from insurers, financial advisors, online aggregators, and insurance brokers. In 2023, the brokers channel held the highest share in life insurance distribution, accounting for over 51%, followed by agencies. Brokers play a vital role in insurance sales and insurers are focusing on improving their digital access.

SECTOR OVERVIEW

Digitalisation in distribution, ESG (preventing and reducing environmental, social and governance risks), mental health claims, insurer-insurtech partnerships, and insurtech funding are the recurring trends in the South African life insurance market. Insurtech, short for “insurance technology,” refers to the use of innovative technologies such as AI to improve and automate the traditional insurance industry to enhance customer experience, streamline operations, and create personalised insurance products through the application of cutting-edge digital solutions.

Direct insurers are leveraging technology to expand their propositions. Sales through cell phone apps and insurers’ websites have gained popularity and policyholders can access a wide variety of services through these channels.

Insurers are also using WhatsApp and USSD to sell policies and services directly to consumers. They have also created seamless online services to enable brokers to digitalise their services.

Traditional insurers and insurtechs are forming partnerships, leveraging each other’s experience and skills, benefiting from insurtechs’ technology and innovation, and traditional insurers’ expertise.

THE EVOLUTION OF AI IN INSURANCE The arrival of generative AI heralds significant progress for the insurance industry, offering insurers a new realm of possibilities.

Images: istock.com/dimabl

The KPMG 2023 Global Tech Report shows this shift, with 52% of insurance CEOs identifying AI, including generative AI, as the most critical technology to implement in order to achieve their strategic goals over the next three years.

SOME OF THE MOST PROMISING USE CASES INCLUDE: Fraud detection: advanced AI algorithms are enhancing fraud detection by analysing patterns in claims data, allowing insurers to proactively identify and prevent fraudulent activities before significant losses are incurred.

Customer personalisation: generative AI is able to analyse vast amounts of customer data to tailor products and services, ensuring that offerings are precisely aligned with individual needs and preferences.

Efficient claims processing: AI-driven automation is revolutionising claims processing by reducing handling times and improving accuracy, ultimately leading to a superior customer experience.

Conversational agents: generative AI enables conversational agents to provide personalised, human-like interactions.

“Generative AI is not just another technological advancement, it is a catalyst for transformation within the insurance industry. By integrating advanced AI techniques, insurers can unlock new efficiencies, deliver highly personalised services, and lead the way in shaping the future of insurance.

The journey toward AI-driven innovation is just beginning, and those who embrace it today will be the leaders of tomorrow.” - KPMG

R614.7 BILLION ($36.7 BILLION)

MARKET SIZE (2022)

CAGR (2024-2028)

>5%

REGISTERED INSURANCE ENTITIES IN SOUTH AFRICA

March 2023

March 2024

Total

158

157

Life primary insurers

61

60

Life cell captives

5

5

Life microinsurers

10

11

Non-life primary insurers

56

56

Non-life cell captives

7

6

Non-life captives

4

6

Non-life microinsurers

0

0

Composite microinsurers

4

3

Professional reinsurers

9

8

Composite reinsurers

4

5

Life reinsurers

1

0

Non-life reinsurers

2

1

Branches of foreign reinsurers

2

Other

2

2

Sources: South African Reserve Bank

Sources: GlobalData | Statista | KPMG | South African Reserve Bank

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SECTOR OVERVIEW

HOTELS CONSISTENT UPTURN IN TOURISM BOLSTERS THE HOTELS INDUSTRY

BY SHUMIRAI CHIMOMBE

T

he South African hospitality industry has been experiencing sustained growth in recent years.

A report by Research and Markets indicates that the market size of this sector is estimated at USD 1.36-billion in 2024, and is expected to reach USD 1.68-billion by 2029, growing at a CAGR of 4.43% during the forecast period (2024-2029).

This positive growth trajectory is driven by various factors.

TRAVEL AND TOURISM SECTOR MAKES A RAPID POST-PANDEMIC RECOVERY The travel and tourism sector has been recovering at a steady pace since the COVID-19 restrictions in the industry were lifted in April 2022.

South Africa ranked the highest in Africa in the 2024 Travel and Tourism Development Index (TTDI) by the World Economic Forum which was released in May. The country was ranked 55th among 119 countries and scored high for price competitiveness, ICT readiness, natural resources, and travel and tourism socio-economic impact.

According to the World Travel & Tourism Council (WTTC), South Africa’s travel and tourism GDP is expected to drive the country’s economic recovery over the next decade. The WTTC’s Economic Impact Report (EIR) indicates that the sector is expected to grow at a 7.6% annual rate over the next decade, far outpacing the country’s overall economic growth rate of 1.8%. By 2032, the sector’s contribution to GDP could reach more than ZAR 554.6 billion (7.4% of the total economy), injecting nearly R287-billion into the national economy. The sector is also expected to create more than 800,000 jobs over the next decade, to reach more than 1.9 million by 2032.

Consequently, the hospitality industry is experiencing exponential growth as a result of the

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rising number of travellers visiting the country for business and leisure purposes.

The Department of Tourism reported that in 2023, South Africa welcomed close to 8.5 million international visitors of which 6.4 million were from the African continent. This represents a significant increase of 48.9% compared to 2022 arrivals.

According to Statistics South Africa, during the first quarter of 2024 – January to March – South Africa welcomed 2.4 million visitors, representing a notable 15.4% increase when compared with the same period in 2023.

A PRIME BUSINESS EVENTS DESTINATION South Africa has gained significance as a leading convention destination, moving up five spots in the 2023 International Congress and Convention Association (ICCA) Global Ranking Report. It has maintained its position as the number one meeting and conference destination in Africa and the Middle East, according to the report. Furthermore, Cape Town continues to maintain its spot as Africa’s premier business events destination and is listed as one of the top 50 convention cities across the globe. Its latest accolade is being recognised as Africa’s best Meetings, Incentives, Conferences and Events (MICE) destination at the 5th Annual World Mice Awards 2024, with Sun City Resort winning Africa’s best MICE hotel.

Technology a major driver in growing the sector South African hotels have quickly adopted technology to meet customer-driven demand. The pandemic was a significant trigger for the acceleration of innovation and technology, and hotels have capitalised on this opportunity to enhance their services. Hotels are implementing technology that is transforming the consumer experience such as using digital platforms and online booking services to reach a wider audience and attract both domestic and international guests, as

SECTOR OVERVIEW

•

• • •

•

The Hotels market is expected to see an increase in the number of users, projected at 8.43 million by 2029 The user penetration rate is expected to rise f rom 10.9% in 2024 to 13.2% by 2029 The average revenue per user (ARPU) is expected to be US$174.20 It is expected that 71% of the total revenue will be generated through online sales by 2029 South Africa’s hotels are diversifying their offerings to attract both international and domestic travellers, with a focus on sustainable tourism practices.

Source: Statista

well as investing in systems and technologies that automate processes and personalise the guest experience.

CHANGING CUSTOMER PREFERENCES Customers in South Africa are increasingly seeking unique and authentic experiences when it comes to accommodation. This has led to a rise in demand for boutique hotels, eco-friendly lodges, and properties that offer cultural immersion. Travellers are also showing a preference for hotels that prioritise sustainability and local community engagement.

EVOLVING MARKET TRENDS A notable trend in the hotels market is the increasing popularity of luxury safari lodges, especially in regions known for wildlife reserves such

as Kruger National Park. These lodges offer high-end amenities and exclusive wildlife viewing experiences, attracting luxury travellers from around the globe.

Additionally, the growing focus on sustainable tourism in South Africa has prompted many hotels to implement green practices and support local conservation efforts.

TOURIST ACCOMMODATION: STATISTICS SOUTH AFRICA KEY FINDINGS, MAY 2024 Measured in nominal terms (current prices), the total income for the tourist accommodation industry increased by 4,4% in May 2024 compared with May 2023.

Income from accommodation increased by 5,8% year-on-year in May 2024, the result of a 10,6% increase in the average income per stay unit night sold. The largest contributors to the income were: ‘other’ accommodation (10,7% and contributing 3,3 percentage points); and hotels (3,8% and contributing 2,4 percentage points).

Income from accommodation increased by 7,5% in the three months ended May 2024 compared with the three months ended May 2023. The main positive contributors to this increase were: hotels (6,3% and contributing 4,0 percentage points); and ‘other’ accommodation (12,4% and contributing 3,7 percentage points).

Seasonally adjusted income from accommodation increased by 7,6% month-on-month in May 2024, following an increase of 1,3% month-on-month in April 2024.

INCOME FROM ACCOMMODATION AT CURRENT PRICES FOR THE LATEST THREE MONTHS BY TYPE OF ACCOMMODATION - MAY 2024

Images: istock.com/anyaberkut

Type of accommodation

Mar – May 2023 (R million)

Weight (%)

Mar – May 2024 (R million)

% change between Mar – May 2023 and Mar – May 2024

Contribution (% points) to the total % change

Hotels

4 508,4

63,8

4 794,4

6,3

4,0

Caravan parks and camping sites

62,4

0,9

66,4

6,4

0,1

Guest-houses and guest-farms

383,9

5,4

360,6

-6,1

-0,3

Other accommodation

2 114,2

29,9

2 376,1

12,4

3,7

Total income from accommodation ¹

7 068,9

100,0

7 597,5

7,5

7,5

Sources: Statista | StatsSA | Research and Markets | Government of South Africa | Department of Tourism | Wesgro

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SECTOR OVERVIEW

EXHIBITIONS AND CONFERENCES SOUTH AFRICA LEADS THE WAY IN A BOOMING AFRICAN BUSINESS EVENTS MARKET

BY SHUMIRAI CHIMOMBE

T

he Meetings, Incentive Travel, Conferences and Exhibitions (MICE) sector plays a vital role in economic development as it creates jobs, attracts large numbers of business travellers, fosters collaboration, and benefits local industries such as hospitality, transport and entertainment.

South Africa continues to be a prime business travel destination for local and international conventions, symposiums and trade shows. The country has improved its global ranking as a business event destination, moving up five spots in the 2023 International Congress and Convention Association (ICCA) Global Ranking Report. It has maintained its position as the number one meeting and conference destination in Africa and the Middle East, according to the report.

The ICCA uses strict criteria for its global rankings, including the requirement that only association conferences are recognised, excluding corporate or government events. Conferences must be attended by at least 50 international delegates, last at least two days, and rotate through at least three countries.

In 2023, South Africa hosted 98 association meetings and conferences that met the ICCA criteria. These had a total estimated economic impact of just over R2 billion.

South African Tourism CEO, Nombulelo Guliwe emphasised the significance of the ranking accolade in enhancing South Africa’s global standing as a sought-after destination for meetings. She noted that

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all business events hosted in the country are crucial because they not only contribute to arrival numbers and the economy, but they also showcase the expertise in various economic sectors.

“Business events significantly boost our country’s economic development and growth by generating direct spending and creating jobs, fostering industry innovation and networking, and expanding market opportunities through international exposure. They enhance tourism by attracting delegates from across the globe and improving infrastructure while also strengthening the country’s global image and cultural exchange.

These business events offer professional development for South Africans attending these international conferences, including youth and women from previously disadvantaged backgrounds, fostering future business leaders. Overall, business events are crucial for stimulating economic activity, driving innovation, and promoting long-term economic sustainability.”

Nombulelo indicated that for the 2023/24 financial year, the South African Tourism’s National Convention Bureau (SANCB) submitted 95 bids for international business events to be hosted in South Africa between 2024 and 2032. These have a combined estimated economic value of just over R1.5bn and can potentially attract 60,040 international and regional delegates to South Africa between 2024 and 2032. So far, South Africa has won 19 bids, with an estimated economic impact of R85m and a total of 3,055 delegates.

SECTOR OVERVIEW

THE VALUE OF THE MICE SECTOR In the South African market, the international segment accounts for 70.8% of MICE events held in the country, while the domestic segment comprises 29.2%. The value of international events stands at R86 billion while the domestic value stands at R35.6 billion.

Both international and domestic segments are projected to grow at a compound annual growth rate (CAGR) of 16 to 17% through 2032.

Source: Allied Market Research

“The SANCB has committed R5.7m through its Bid Support Programme for these secured conferences, which will also contribute to the regional spread of business events and will be hosted in Johannesburg, Tshwane, Ekurhuleni, Cape Town, Sun City, Parys, Skukuza, and Potchefstroom.”

The ICCA Statistics Report is published every year early in May. Results are tabulated through the reports of ICCA member countries who submit the number of international and regional meetings that they hosted during the preceding calendar year to ICCA.

Images: istock.com/hxdbzxy

CAPE TOWN: A LEADER IN AFRICA Cape Town has cemented its status as Africa’s premier destination for business meetings, hosting the most international in-person association meetings on the continent in 2023. The city hosted a total of 42 international ICCA association meetings, a significant increase from the 30 meetings held in the previous year. This increase solidifies its position as Africa’s leading business meetings city, a title it has maintained for over a decade. Following closely behind was Kigali, Rwanda’s capital, with 31 meetings, and Nairobi, Kenya’s capital and East Africa’s commercial hub, which hosted 21 business events, according to the ICCA report.

In addition, Cape Town has been recognised as the Africa’s best Meetings, Incentives, Conferences and Events (MICE) destination at the 5th Annual World Mice Awards 2024, with Sun City Resort winning Africa’s best MICE hotel. The World MICE Awards celebrate and reward excellence in MICE tourism, and is the sister event of the World Travel Awards. This year’s gala awards ceremony took place in Ho Chi Minh City, Vietnam in September.

FACTORS DRIVING THE GROWTH OF THE MICE SECTOR IN AFRICA The MICE sector is booming in Africa, with several countries recording impressive growth.

There are a number of factors driving continued growth of Africa’s MICE sector according to Allied Market Research. The rise of experiential travel has created demand for unique and immersive MICE experiences, boosting the popularity of boutique hotels, eco-lodges, and themed accommodations.

Changes in lifestyle, increased tourism promotion, and improved transport facilities are all expected to fuel further growth.

The meetings segment dominates Africa’s MICE market with 60.4% of the market share, followed by conventions (19.5%) and incentives (12.7%). The incentives market is experiencing the highest growth rate at 17.2% , reflecting the growing trend towards rewarding employees and clients through immersive experiences.

South Africa holds a higher value compared to other African markets, even though all countries are expected to experience robust growth between 2023 and 2032. Rwanda leads by 18.4% CAGR. Sectors that are key contributors to the MICE industry include information technology and telecommunications (25.7%); agriculture and food (19.8%), and finance (18.5%).

VALUE IN 2023 March 2023

March 2024

International

Domestic

USD (Bn)

$4.67

$1.93

Rand (Bn)

R86.2

R35.6

CAGR

16.2%

16.8%

Market share

70.8%

29.2%

Source: Allied Market Research

AFRICA’S BUSINESS EVENTS PERFORMANCE BY COUNTRY Value (USD billion)

CAGR

Nigeria

0.8

16.2%

South Africa

6.6

16.4%

Kenya

1.3

17.1%

Egypt

0.7

17.1%

Rwanda

1.3

18.4%

Sources: Allied Market Research | South African Tourism | Department of Tourism | Daily Southern and East African Tourism Update | Wesgro 14TH EDITION | TOP500 | 147 14TH EDITION | TOP500 | 139

SECTOR OVERVIEW

10 BUSINESS SECTORS THAT ARE SHOOTING THE LIGHTS OUT IN SOUTH AFRICA SHUMIRAI CHIMOMBE AND VERONIQUE ANDERSON

2

LIFE INSURANCE The life insurance market has been experiencing significant growth in recent years. The KPMG South African Insurance Industry

1

BANKS The South African banking sector continues to maintain its position as the largest on the African continent.

As of 2022, the aggregate tier 1 capital from the major South African banks reached US$42.2-billion according to Statista. Online banking is expected to continue its trajectory of growth in the coming years with fintech offering new technological banking solutions, 1 and the entry of digital banks into the sector. In 2022, just over 44 percent of the country’s population reported using online banking. South Africa’s banking sector has significantly increased its customer base in the last decade. In 2023, almost 86 percent of the adults in the country had a bank account, compared to about 64 percent in 2014.

164 | TOP500 | 14TH EDITION 140 | TOP500 | 14TH EDITION

Survey 2023 indicated that gross written premium (GWP) for the life insurers surveyed increased by 4% from R275.2-billion in 2021 to R287.5-bn in 2022, and total shareholder funds increased by 2% from R169.2bn to R172.8-bn. This growth in demand is attributed to the growing awareness of the need for financial protection and the rising middle class. Customers are increasingly seeking life insurance products that offer not only financial protection but also investment opportunities and additional benefits such as health and wellness perks. One notable trend is the growing popularity of digital insurance platforms as clients are using these to research, compare, and purchase life insurance policies, prompting insurance providers to enhance their online presence and offer seamless digital experiences.

SECTOR OVERVIEW

3

EXHIBITION AND CONFERENCE FACILITIES The Meetings, Incentive Travel, Conferences and Exhibitions (MICE) sector is on an upward trend, with South Africa becoming a sought-after destination for local and international conventions, symposiums and trade shows. The country has improved its global ranking as a business event destination, moving up five spots in the 2023 International Congress and Convention Association (ICCA) Global Ranking Report. The sector is expected to grow from U$6.9billion in revenue

4

2019 to an estimated US$10.2-billion in 2028 according to South African Tourism, and this will significantly impact the

CONSULTING ENGINEERING, MINING AND INFRASTRUCTURE South Africa continues to be at the forefront in generating new construction projects in Africa, with the sector contributing an annualised added value of R109.5-billion to the GDP in the fourth quarter of 2023 according to StatsSA, and 3% to total output. In a boost for the sector, in 2020 the government launched the roll-out of its infrastructure investment programme to build critical network infrastructure such as ports, roads and rail, as well as in energy and power, and real estate across the country. The mining sector is an important part of the economy and in 2023, contributed an added value of approximately R202.05 billion to the country’s GDP. The construction and mining industries provide immense engineering investment

economy through job creation, increased tourist numbers, and increased support for local businesses.

opportunities which are likely to increase with new projects coming onstream and the increased demand for the country’s high-value natural resources.

14TH EDITION | TOP500 | 165 14TH EDITION | TOP500 | 141

5

INDUSTRIAL PRODUCTS AND EQUIPMENT The capital goods sector plays an essential crosssectional role in the economy as its output of machinery and equipment is required for virtually all goods production processes. The industry has well-established markets in the mining, construction, and wider manufacturing sectors in South Africa and the region. In 2022 it accounted

6

for 7.1% of South Africa’s total manufacturing value added. In 2021, income of the capital goods industry was concentrated in mining, quarrying, construction, and metallurgy, valued at R41-billion. The sector receives government support through policy instruments such as localisation and preferential procurement, and the state’s commitment to spend more on infrastructure projects will present further opportunities for growth.

HOTELS The hospitality industry is one of the fastest growing and sustainable sectors in the country with the hotels market experiencing significant growth. Its revenue is estimated to reach US$1.16bn in 2024 according to Statista. This growth is driven by various factors such as rising demand by travellers for unique and authentic experiences, giving priority to sustainability, and local cultural immersion. South African hotels are responding to these trends by diversifying their offerings and focusing on sustainable tourism such as adopting green practices and supporting local conservation efforts. The rise of digital platforms and online booking services has also made it easier for hotels to reach a wider audience and it is expected that 71% of the total revenue in this market will be generated through online sales by 2029.

166 | TOP500 | 14TH EDITION 142 | TOP500 | 14TH EDITION

7

SOFT GOODS Retail is the third-largest sector and the second largest employer after the government, making it a key factor in the country’s economy.

In its Statistical Release for Retail Trade Sales StatsSA reported that retail trade sales increased by 4,1% year-on-year in June 2024. One of the largest positive contributors to this increase was retailers in textiles, clothing, footwear and leather goods (6,1% and contributing 1,1 percentage points). In recent years, the performance of the retail sector has been influenced by changing consumer purchasing trends that have increasingly shifted online. Clothing and fashion lead in e-commerce purchases, followed by the food and drink category, thanks to the increased popularity of take-out deliveries and online grocery shopping. The 2024 Online Retail Report by World Wide Worx revealed significant growth in South Africa’s online retail sector, which surged to R71-billion in 2023, representing a 29% increase from 2022.

SECTOR OVERVIEW

9

Images: istock.com/champpixs, istock.com/ Mihajlo Maricic, istock.com/Drazen Zigic, istock.com/GKV, istock.com/Sorapop, istock.com/SweetBunFactory, istock.com/ Drazen Zigi, istock.com/metamorworks, istock.com/monticelllo, istock.com/siculodoc

TELECOMMUNICATIONS (WIRELESS) Mobile lines dominate the telecommunications space, accounting for almost two-thirds of income for the sector. according to StatsSA. In 2022 mobile voice and data were the largest contributors to mobile lines, with SMS services showing a decline of 24% per annum, the second largest decrease in the sector. ADSL, which had been the largest generator of income in the internet access services category in 2019 declined sharply to third place during this period. It was replaced by fibre-optic broadband which expanded by more than three-fold - a reflection of the changes in user trends and demand for services such as e-commerce, and smooth uploading and downloading of videos, podcasts, images and other information without interruptions.

8

ROAD FREIGHT The road freight sector remains the backbone of national logistics operations and currently accounts for 83.6% of all freight payload in South Africa. Road freight increased by 4.5% on a monthly basis in April 2024 against 1.2% in March signalling the second consecutive positive monthly growth rate following a downward trend that lasted almost a year. The government has introduced the National Infrastructure Plan 2050 prioritising key areas such as energy, freight transport, water, and digital infrastructure, which should create more opportunities for growth in this sector.

10

FOOD PROCESSORS The food processing industry is significant in its contribution to economic growth, job creation and international trade.

Employment in the food industry increased by 1,9% in 2022 from a 0,8% growth in 2021. As a result, a further 4 160 jobs were created in 2022 compared to1 635 jobs created in 2021.

Agro-processing is one of the sectors that is included in the government’s

National Development Plan 2030 strategies to enable inclusive and efficient agricultural and food systems to increase employment and growth.

14TH EDITION | TOP500 | 167 14TH EDITION | TOP500 | 143

HOW WE RA NK

South Africa’s Best Managed Companies

144 | TOP500 | 14TH EDITION 158 | TOP500 | 14TH EDITION

RANKING

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

T

he Top 500 aims to identify the top five companies in each of 100 business sectors monitored by the Topco Research Department. In order to do so, some measure of the qualities that we consider to be characteristic of top companies must be designed in order to rank companies.

To be classed as one of South Africa’s best companies, we expect companies to excel in three key spheres, namely financial performance, empowerment, and policy and accreditation. The criteria within financial performance speak to the ideas of top companies being large, growing and productive institutions that are leaders by virtue of their size and dynamism. Financial performance is measured by four indicators: turnover, rate of turnover growth, Rand turnover growth and turnover per employee.

Size is both an indicator and an outcome of whether or not a company is a top company.

From the perspective of financial performance, turnover is used to proxy company size and this indicator has large weight within the measure.

The dynamism of top companies is reflected in their ability to expand and grow, and so we include two medium-weight indicators – one relative, one absolute – of growth in the scoresheet. The former indicator is the rate of turnover growth over the year – since top companies are faster-growing – while the latter is the Rand value of the turnover growth.

Absolute turnover growth is included to account for the fact that top companies’ growth should make a large contribution to increased total output. These two indicators have a medium weight within the scoring system. Top companies are more productive than other companies and the final performance indicator, turnover per

employee, which has a medium weight, speaks to this characteristic.

The business sector has an important role to play in promoting equity and social transformation. Top companies are committed to fulfilling this role, and this commitment is measured 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 female employees and by black employees respectively.

Top companies, however, go further than just employment, and are committed to ensuring greater diversity at the level of management and control. The proportion of black and female executive and non-executive directors is evaluated to complete the scoring for this sphere. Top companies are involved within communities and are committed to quality.

This sphere of policy and accreditation accounts for the remainder of the total score. In gauging companies’ engagement and involvement within communities, we measure their total spend on corporate social investment activities relative to net profit.

Companies are also judged on the existence of written policies regarding employment equity, skills development, health and safety, HIV/Aids, and the environment. The final criterion within this sphere, commitment to quality, is proxied by the number of SABS-approved accreditations held by companies.

MORNÉ OOSTHUIZEN DEPUTY DIRECTOR Development Policy Research Unit, University of Cape Town 14TH EDITION | TOP500 | 145 14TH EDITION | TOP500 | 159

PR I M A R Y R e source s Coal South Africa’s Best Managed Companies

Exxaro Resources Limited Thungela Resources Limited Sasol Mining (Pty) Ltd

TOP 500 14TH EDITION OFFICIAL

Coal of Africa/ TA MCMining Limited Glencore Coal SA

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

South Africa’s best Platinum managed companiesAnglo American Platinum Limited Northam Platinum Impala Platinum Holdings Limited African Rainbow Minerals(Platinum)

This is to certify that

Metals and Minerals Kumba Iron Ore Limited Merafe Resources Limited

Oceana Group Limited

Insimbi Industrial Holdings Limited Bauba Resources Limited Pan African Resources

has been ranked No.1 in the

Diversified Mining Anglo American South Africa Limited

F i s h i n g S e c t o rSouth 32 SA Coal Holdings (Pty) Limited

2021 FROM AEROSPACE TO GAMING & LESUIRE. WE TAKE A LOOK AT THE TOP RANKING SECTORS OF THE YEAR 2024

Exxaro Resources Limited African Rainbow Minerals Limited Bhp Billiton Energy Coal South Africa Limited

Gas Petroleum, Oil and Gas Corporation of

Topco Media Research Foundation

Ralf Fletcher CEO

South Africa (PetroSA) Sasol Limited (Gas division) African Oxygen Limited Air Liquide (Pty) Ltd

2021

Air Products South Africa (Pty) Ltd

146 | TOP500 | 14TH EDITION 160 | TOP500 | 14TH EDITION

RANKING

Diamond Mining

Construction Groups

Electrical Equipment

De Beers Consolidated Mines Limited

WBHO Construction

ACTOM (Pty) Ltd

Petra Diamonds Southern Africa Limited

Aveng Africa Limited

Zest Weg Group

Murray & Roberts Holdings Limited

Voltex (Pty)Ltd

Turner & Townsend Pty Ltd

Ti Fluid Systems

VEA Road Maintenance and Civils (Pty) Ltd

South Ocean Holdings Limited

Trans Hex Group Limited

SE C O N D A R Y B as i c In d u st ri e s Speciality Chemicals Sasol LImited

Forestry Sappi Southern Africa Limited Mondi Limited

AECI Limited

Komatiland Forests (Pty) Ltd

Omnia Holdings Limited

York Timber Holdings Limited

Spanjaard Limited

Hans Merensky Holdings (Pty) Ltd

African Oxygen Limited

Steel Retail & Commercial Fuels

ArcelorMittal South Africa Limited

Engen Petroleum Limited

BSI Steel Limited

Total South Africa (Pty) Ltd

Hulamin Operations (Pty) Ltd

BP Southern Africa (Pty) Ltd

Macsteel Service Centres SA (Pty) Ltd

Shell Downstream South Arica (Pty) Ltd

Trident Steel (Pty) Ltd

The Building Company Limited Brikor Limited Italtile Limited Massbuild (Pty) Ltd T/A Builders Warehouse

Altron Limited Ellies Holdings Limited Reunert Ltd Siemens SA Limited Alaris Holdings Limited

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

Heavy Machinery

Builders Merchants Cashbuild South Africa (Pty) Ltd

Electronic Products

Gen eral In d ustrie s Aerospace and Defence

Bell Equipment Raubex Group Limited ELB Equipment Holdings (Pty) Ltd

Armaments Corporation of South

HPE Africa (High Power Equipment) (Pty Ltd

Africa SOC Ltd (ARMSCOR)

Babcock Africa (Pty) Ltd

Reutech Radar Systems a division of

Building & Construction Materials

Reutech Limited Thales South Africa Systems (Pty) Ltd

Consulting Engineering Mining & Infrastructure

PG Bison (Pty) Ltd

Paramount Advanced Technologies (Pty) Ltd

WSP Africa

Cashbuild South Africa (Pty) Ltd Afrimat Limited Brikor Limited Trellidor Holdings Limited

Cement PPC Limited AfriSam South Africa Afrimat Limited Sephaku Cement

Zutari (Pty) Ltd SMEC South Africa (Pty) Ltd

Diversified Industrials

Bigen Africa Services (Pty) Ltd

Imperial Logistics, a DP World Company

GIBB Proprietary Limited

Barloworld Limited The Bidvest Group Limited

Mining Services

KAP Limited

AECI Mining Explosives

Argent Industrial Limited

Komatsu Mining Corporation (Pty) Ltd Copper 360 Lmited Murray & Roberts Cementation (Pty) Ltd MATSAPA-A-BOTSHELO TRADING & PROJECTS (MAB) 14TH EDITION | TOP500 | 161 14TH EDITION | TOP500 | 147

Cyclical Cunsumer Goods Automobiles Toyota South Africa Motors (Pty) Ltd Volkswagen of South Africa Ltd. Mahindra & Mahindra South Africa (Pty.) Ltd Nissan South Africa (Pty) Ltd Kia South Africa (Pty) Ltd

Commercial Vehicles Iveco South Africa (Pty) Ltd Volvo Group Southern Africa (Pty) Ltd TATA Automobile Corporation South Africa (Pty) Ltd Hino Trucks FAW Vehicle Manufacturers South Africa (Pty) Ltd

Agriculture KAL Group Limited

Colgate-Palmolive (Pty) Ltd

VKB Landbou (Pty) Ltd

Amka Products (Pty) Ltd

Omnia Holdings Limited

HPCB a division of Tiger Brands Limited

Senwes Limited TWK Agri (Pty) Ltd

Farming RCL Foods Limited Oceana Group Limited Quantum Foods Holdings Limited Astral Foods Limited Crookes Brothers Limited

Oceana Group Limited Irvin & Johnson Limited Sea Harvest Group Limited

Metair Investments Limited

Food Processors Groups

Feltex Automotive a Division of KAP Manufacturing (Pty) Ltd

Premier Group Limited

MAHLE Behr South Africa (Pty) Ltd.

Household Appliances Defy Appliances (Pty) Ltd Whirlpool South Africa Ltd Home of Living Brands (Pty) Ltd Nu-World Holdings Limited Ellies Holdings Limited

Procter & Gamble SA (Pty) Ltd Unilever South Africa (Pty) Ltd

Pharmaceuticals Aspen Pharmacare Holdings Limited Adcock Ingram Holdings Limited AstraZeneca Pharmaceuticals (Pty) Ltd Cipla Limited Ascendis Health Ltd

Fishing

Automotive Components

Faurecia Emissions Control Technologies (Pty) Ltd

Personal Products

AVI Limited Tiger Brands Limited Libstar Holdings Limited RFG Holdings Limited

Packaging Berry Astrapak Pak 2000 (A division of Astrapak Manufacturing Holdings (Pty) Ltd)

TE RTI A R Y C ycl i c a l S e r vi ce s Direct Response Marketing Homechoice Holdings Limited Verimark Holdings Limited Homemark (Pty) Ltd

B-BBEE verification Agencies Honeycomb BEE Ratings (Pty) Ltd Empowerdex (Pty) Ltd MSCT BEE Services (Pty) Ltd AAA BEE Verification Agency CC Noble Bee Advisory

Nampak Limited Mpact Limited

Diversified Retailers

Transpaco Limited

Shoprite Holdings Limited

Non-Cyclical Cunsumer Goods

Bowler Metcalf Limited

Woolworths Holdings Limited

Consumer Electronics

Clicks Group Limited

Distillers & Vintners

Mustek Limited.

Pepkor Holdings Limited

Distell Limited

Hisense S.A. (Pty) Ltd

Stellenbosch Vineyard (Pty) Ltd

Samsung Electronics South Africa (Pty) Ltd

DGB (Pty) Ltd Orange River Wine Cellar Co-Op Limited

162 | TOP500 | 14TH EDITION 148 | TOP500 | 14TH EDITION

Pick n Pay Retailers (Pty) Ltd

Ellies Holdings Limited LG Electronics SA (Pty) Ltd

Manufacturing Companies Sasol Limited Sappi Southern Africa Limited KAP Industrial Holdings

RANKING

Nampak Limited

Corporation Limited (SABC)

Merchants SA (Pty) Ltd

ArcelorMittal South Africa Limited

eMedia Holdings Limited

Working at SA Commercial (Pty) Ltd

Media Printing Companies

Recruitment Groups

Caxton & CTP Publishers &

Adcorp Holdings Limited

Printers Limited

ADvTECH Limited

Novus Holdings Limited

Workforce Holdings Limited

Media24 (Pty) Ltd

Primeserv Group Limited

Retail - Soft Goods Woolworths South Africa (comprising Fashion, Beauty and Home) Mr Price Group Limited The Foschini Group Limited Truworths International Limited

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

Hotels City Lodge Hotels Limited Tsogo Sun Hotels Limited Southern Sun Limited Peermont Hotels & Resorts Sun International Limited

Travel & Tourism Flight Centre Travel Group (Pty) Ltd Travel with Flair (Pty) Ltd Rennies Travel (Pty) Ltd t/a Rennies BCD Travel Club Travel SA (Pty) Ltd

Restaurant & Pubs Holdings Companies Famous Brands Limited Spur Corporation Limited Wembley Group of Companies

Broadcasting Contractors MultiChoice Group Limited African Media Entertainment Limited Sentech SOC Limited South African Broadcasting

CSG Holdings Limited

Advertising King James Cape Town Pty Ltd

Corporate Security Services

Joe Public United

Fidelity ADT (Pty) Ltd

M & C Saatchi Abel (Pty) Ltd

Mustek Security Technologies Bidvest Protea Coin (Pty) Ltd.

Food Services Nestlé (South Africa) (Pty) Ltd

Hygiene

Bidfood (Pty) Ltd

Bidvest Steiner (Pty) Ltd

In2food Group(Pty) Ltd

Sanitech: a division of Waco Africa (Pty) Ltd

Feedem Group (Pty) Ltd Empact Group (Pty) Ltd

Rentokil Initial (Pty) Ltd

Legal Services

Waste Management

Bowmans Webber Wentzel Spoor & Fisher Fasken Adams & Adams

Exhibition & Conference Facilities

Interwaste Holdings Limited Enviroserv Waste management Limited The Waste Group (Pty) Ltd

Car Hire Europcar, a Division of Motus Holdings Limited CMH Car Hire (Pty) Ltd t/a First Car

Sandton Convention Centre

Rental & CMH Fleet Solutions

Cape Town International Convention

Zenith Car Rental (Pty) Ltd t/a Avis

Centre Company SOC Ltd (RF)

Rent A Car

Johannesburg Expo Centre

Thrifty Car Rental South Africa

Reed Exhibitions Pty Ltd

Hertz Rent A Car South Africa

DURBAN ICC

Business Process Outsourcing

Fleet Management & Vehicle Tracking

Altron Limited

Daimler fleetboard

Nutun Business Services South Africa (Pty) Ltd

Zeda Limited

Syntell (Pty) Ltd

Netstar (Pty) Ltd

14TH EDITION | TOP500 | 163 14TH EDITION | TOP500 | 149

Fleet Africa (Pty) Ltd

Fedhealth Medical Scheme

Short-term Insurance

EQSTRA Fleet Services (Pty) Ltd

Medshield Medical Aid

Santam Limited AIG South Africa Limited

Freight Forwarding

Hospital Management

Kuehne-Nagel (Pty) Ltd

Life Healthcare Group Holdings Limited

Hellmann Worldwide Logistics (Pty) Ltd

Mediclinic South Africa (Pty) Ltd

Santova Limited

Netcare Limited

OUTsurance Life Insurance Company Limited Old Mutual Insure Limited Momentum Short-Term Insurance

Kintetsu Worldwide Express South

AfroCentric Investment Corporation Limited

Life Insurance

Africa (Pty) Ltd

Advanced Health Limited

Momentum Group Limited Sanlam Limited

Courier Services

Food Retailers

Liberty Holdings Limited

Aramex South Africa (Pty) Ltd

Shoprite Holdings Limited

SkyNet Worldwide Express

Pick n Pay Retailers (Pty) Ltd

OUTsurance Life Insurance Company Limited

Bigfoot Express Freight (Pty) Ltd

Woolworths Holdings Limited

FedEx Express South Africa (Pty) Ltd

Spar Group Limited

Ram Transport South Africa (Pty) Ltd t/a Ram Hand-to-hand Couriers

Road Freight Super Group Limited Trencor Limited Onelogix Group Limited Santova Limited Value Logistics Limited

Telecommunications (Wireless) MTN Limited Vodacom Limited

Investment Holding Companies Remgro Limited African Equity Empowerment Investments Limited

Telkom SA SOC Limited

Hosken Consolidated Investments Limited

Cell C Limited

Deneb Investments Limited Accelerate Property Fund Limited

Utilities

Shipping Mediterranean Shipping Company

Water

(Pty) Ltd

Rand Water

Grindrod Shipping Holdings Limited

Johannesburg Water SOC Limited

Maersk (Pty) Ltd

Umgeni-Water

Berry & Donaldson (Pty) Ltd

Amatola Water

Ocean Network Express (ONE)

Non-cyclical Services

Discovery Limited

Finan cial

Investment Services PSG Konsult Limited JSE Limited Vunani Limited Sasfin Holdings Limited Purple Group Limited

Real Estate Holdings and Development Growthpoint Properties Limited

Banks

Fortress Real Estate Investments Ltd

Medical aid schemes

Standard Bank Limited

Hyprop Investments Limited

Bonitas Medical Fund

Absa Limited

Redefine Properties Limited

Discovery Health Medical Scheme (BHMS)

FirstRand Limited

Attacq Limited

Bestmed Medical Scheme

African Bank Holdings Limited

164 | TOP500 | 14TH EDITION 150 | TOP500 | 14TH EDITION

Nedbank Group Limited

RANKING

Real Estate Investment and Services Balwin Properties Limited Attacq Limited Putprop Limited Acsion Limited Visual International Holdings Limited

Asset Management Ninety One Limited Old Mutual Limited Coronation Fund Managers Limited Alexander Forbes Group Holdings Limited

Information Techn ology

PBT Group Limited

Computer Hardware

Diversified Business Support

Alviva Holdings Limited Mustek limited Hewlett Packard South Africa (Pty) Ltd Acer Africa (Pty) Ltd IBM South Africa (Pty) Ltd

IT component distributors

Boxfusion Holdings (Pty) Ltd

Adcorp Holdings limited LexisNexis (Pty) Ltd Invicta Holdings Limited Metrofile Holdings Limited Novus Holdings Limited

Rectron (Pty) Ltd

SOC Services

Axiz (Pty) Ltd

Transnet SOC Limited

Business Connexion BCX (Pty) Ltd

Telkom SA SOC Limited

Pinnacle Micro (Pty) Ltd

Airports Company of South Africa Limited

Sygnia Limited

Tarsus Distribution (Pty) Ltd

Accounting & Consulting

Total Office Providers

Company Limited

Deloitte Africa

Xerox - Bytes Document Solutions

Sentech SOC Limited

PricewaterhouseCoopers South Africa

Kyocera Document Solutions South

KPMG South Africa

Africa (Pty) Ltd

Government Administration

Ernst & Young t/a EY South Africa

Ricoh South Africa (Pty) Ltd

South African Reserve Bank (SARB)

Mazars (Pty) Ltd

Itec Group (Pty) Ltd

Independent Development Trust (IDT)

Air Traffic and Navigation Services

South African Local Government

Specialized Finance

Information Technlogy Groups

Grand Parade Investments Limited

Datatec Limited

Alexander Forbes Group Holdings Limited

Alviva Holdings Limited

Media Development and Diversity

NTT Data

Agency (MDDA)

Adapt IT Holdings Limited

Construction Industry Development

Altron TMT South Africa Group (Pty) Ltd

Board (CIDB)

Business Partners Limited Deneb Investments Corporation Limited Conduit Capital Limited

Financial services Transaction Capital Limited Rand Merchant Investment Holdings Limited Finbond Group Limited

Telecommunications Solutions WestconGroup SA Link Africa (Pty) Ltd Huge Group Limited TeleMasters Holdings Limited Telviva (Pty) Ltd

African Dawn Capital Limited African Rainbow Capital Investments Limited

Business Software Solutions Microsoft SA

Association (SALGA)

Education Universities University of South Africa North West University University of Stellenbosch University of KwaZulu-Natal University of Witwatersrand

ISA Holdings Ltd Sage South Africa (Pty) Ltd

14TH EDITION | TOP500 | 165 14TH EDITION | TOP500 | 151

LISTING

SOUTH AFRICA'S TOP500 COMPANIES A

Alviva Holdings Limited

Bloem-Water

AAA BEE Verification Agency CC

Amka Products (Pty) Ltd

Boniswa Corporate Solutions (Pty) Ltd

Absa Group Limited

Anglo American Platinum Limited

Bonitas Medical Fund

Accelerate Property Fund Limited

Anglo American South Africa Limited

Bowler Metcalf Limited

Acer Africa (Pty) Ltd

AngloGold Ashanti Limited

Bowmans

Acsion Limited

Appletiser SA (Pty) Ltd

Boxfusion Holdings (Pty) Ltd

ACTOM (Pty) Ltd

Aramex South Africa (Pty) Ltd

BP Southern Africa (Pty) Ltd

Adams & Adams

ARB Holdings Limited

Brikor Limited

Adapt-It Limited

ArcelorMittal South Africa Limited

BSI Steel Limited

Adcock Ingram Holdings Limited

Argent Industrial Limited

Adcorp Holdings Limited Advanced Health Limited

Armaments Corporation of South Africa SOC Ltd (ARMSCOR)

Builders: Warehouse, Express, Trade Depot, Superstore

ADvTECH Limited

Ascendis Health Limited

AECI Limited

Aspen Pharmacare Holdings Limited

AECI Mining

Astral Foods Limited

African Bank Holdings Limited

AstraZeneca Pharmaceuticals (Pty) Ltd

African Dawn Capital Limited

Attacq Limited

African Equity Empowerment Investments Limited

Audi SA

African Media Entertainment Limited

AVI Limited

Cape Town International Convention Centre Company SOC Ltd

African Oxygen Limited

Axiz (Pty) Ltd

Capitec Bank Limited

African Rainbow Capital Investments Limited

Aveng Africa Limited

Business Connexion (Pty) Ltd Business Partners Limited

C Cadiz Holdings Limited Calgro M3 Holdings Limited CallForce Direct (Pty) Ltd

Cashbuild South Africa (Pty) Ltd

African Rainbow Minerals Limited

B

Afrimat Limited

Balwin Properties Limited

Cell C Limited

AfriSam (South Africa) (Pty) Ltd

Barloworld Limited

Cipla Limited

AfroCentric Investment Corporation Limited

Bauba Resources Limited Bell Equipment Limited

Circuit Breaker Industries t/a CBI-electric:Low Voltage

AIG South Africa Limited

Berry & Donaldson (Pty) Ltd

City Lodge Hotels Limited

Air Liquide (Pty) Ltd

"Berry Astrapak Pak 2000 (A division of Astrapak Manufacturing Holdings (Pty) Ltd.) "

Clicks Group Limited

Air Products South Africa (Pty) Ltd Air Traffic and Navigation Services Company Limited Airports Company of South Africa Limited Alexander Forbes Group Holdings Limited Altech Netstar (Pty) Ltd Altron Limited

166 | TOP500 | 12TH EDITION 152 | TOP500 | 14TH EDITION

Bestmed Medical Scheme BHP Group Limited Bidfood (Pty) Ltd Bidvest Protea Coin (Pty) Ltd. Bidvest Steiner (Pty) Ltd Bigfoot Express Freight (Pty) Ltd Bigen Africa Services (Pty) Ltd

Caxton and CTP Publishers and Printers Limited

Clientele Life Assurance Company Limited Clover SA (Pty) Ltd Club Travel SA (Pty) Ltd CMH Car Hire (Pty) Ltd t/a First Car Rental & CMH Fleet Solutions Construction Industry Development Board (CIDB) Cognition Holdings Limited

A-Z LISTING

Colgate-Palmolive (Pty) Ltd

F

Investments Limited

Collins Property Group Limited

Faircape Dairies (Pty) Ltd

HPCB a division of Tiger Brands Limited

Conduit Capital Limited

Famous Brands Limited

Hudaco Industries Limited

Coronation Fund Managers Limited

Fasken

Huge Group Limited

Crookes Brothers Limited

Faurecia Emissions Control Technologies (Pty) Ltd

Hulamin Operations (Pty) Ltd

FAW Vehicle Manufacturers South Africa (Pty) Ltd

I

FedEx Express South Africa (Pty) Ltd.

IBM South Africa (Pty) Ltd

Fedhealth Medical Scheme

Impala Platinum Holdings Limited

Feedem Group (Pty) Ltd

Imperial Logistics, a DP World Company

Datatec Limited

Feltex Automotive a Division of KAP Manufacturing (Pty) Ltd

In2food Group(Pty) Ltd

De Beers Consolidated Mines Ltd.

Fidelity ADT (Pty) Ltd

Daimler fleetboard

Finbond Group Limited

Defy Appliances (Pty) Ltd

FirstRand Limited

Deloitte South Africa

Fleet Africa (Pty) Ltd

Deneb Investments Corporation Limited

Flight Centre Travel Group (Pty) Ltd

DGB (Pty) Ltd

Fortress Real Estate Investments Limited

DHL International (Pty) Ltd t/a DHL Express

Foskor Limited

CSG Holdings Limited CSIR International Convention Centre: CSIR ICC

D Darling Brew

Discovery Health Medical Scheme (BHMS)

G

Discovery Limited

GIBB Proprietary Limited

Distell Limited

Gold Circle (Pty) Ltd

DRD Gold Limited

Gold Fields Limited

DURBAN ICC

Grand Parade Investments Limited

E ELB Equipment Holdings (Pty) Ltd

Grindrod Limited Growthpoint Properties Limited GWK

Independent Development Trust (IDT) Insimbi Industrial Holdings Limited Interwaste Holdings Limited Invicta Holdings Limited Irvin & Johnson Limited Italtile Limited Itec Group (Pty) Ltd Iveco South Africa (Pty) Ltd

J Jaguar Land Rover South Africa (Pty) Ltd Jasco Electronic Holdings Limited JCDecaux South Africa (Pty) Ltd Joe Public United Johannesburg Expo Centre (JEC) Johannesburg Water SOC Ltd Johnson & Johnson (Pty) Ltd

eMedia Holdings Limited

H

Empact Group (Pty) Ltd

Hans Merensky Holdings (Pty) Ltd

Empowerdex (Pty) Ltd

Harmony Gold Mining Company Limited

Empowerlogic (PTY) Ltd

Hellmann Worldwide Logistics (Pty) Ltd

Engen Petroleum Limited

Hertz Rent A Car South Africa

Enviroserv Waste management Limited

Hewlett Packard South Africa (Pty) Ltd

enX Group Limited

High Power Equipment Africa (Pty) LtD

EOH Holdings Limited

Hino Trucks

Ernst & Young t/a EY South Africa

Hisense S.A. (Pty) Ltd

Kintetsu Worldwide Express South Africa (Pty) Ltd

Europcar, a Division of Motus Holdings Limited

Hollard Life Assurance Company Limited

Komatiland Forests (Pty) Ltd

Home of Living Brands (Pty) Ltd

EQSTRA Fleet Services (Pty) Ltd

KPMG South Africa (Pty) Ltd

Homechoice Holdings Limited

Exxaro Resources Limited

Kuehne-Nagel (Pty) Ltd

Homemark (Pty) Ltd

Kumba Iron Ore Limited

Honeycomb BEE Ratings (Pty) Ltd

Kyocera Document Solutions South Africa (Pty) Ltd

Ellies Holdings Limited

Hosken Consolidated

JSE Limited

K Kaap Agri Bedryf Beperk KAP Limited Kia South Africa (Pty) Ltd Kimberley-Clark South Africa (Pty) Ltd King James Cape Town Pty Ltd

14TH EDITION | TOP500 | 167

14TH EDITION | TOP500 | 153

L Lactalis South Africa (Pty) Ltd

MultiChoice Group Limited

PG Bison (Pty) Ltd

Lesedi Nuclear Services (Pty) Ltd

Municipal Infrastructure Support Agent (MISA)

Pick n Pay Stores Limited

LexisNexis (Pty) Ltd LG Electronics SA (Pty) Ltd Liberty Group Limited Libstar Holdings Limited Life Healthcare Group Holdings Limited Link Africa (Pty) Ltd Luxe Holdings Limited

M M & C Saatchi Abel (Pty) Ltd Macsteel Service Centres SA (Pty) Ltd Maersk (Pty) Ltd

Murray & Roberts Cementation (Pty) Ltd Murray & Roberts Holdings Limited Mustek Limited Mustek Security Technologies

N Nampak Limited Naspers Limited Nedbank Group Limited.

Nelson Mandela Metropolitan University Nestlé South Africa (Pty) ltd

Pinnacle Micro (Pty) Ltd PPC Limited Premier Group Limited Pricewaterhousecoopers Services South Africa (Pty) Ltd Primedia Outdoor a division of Primedia Primeserv Group Limited Procter & Gamble SA (Pty) Ltd PSG Konsult Limited Purple Group Limited Putprop Limited

Ninety One Limited

Q

MAHLE Behr South Africa (Pty) Ltd.

Nissan South Africa (Pty) Ltd

Quality Beverages 2000 (Pty) Ltd

Massbuild (Pty) Ltd T/A Builders Warehouse

North West University

Quantanite (SA branch)

Northam Platinum Holdings Limited

Quantum Foods Holdings Limited

MATSAPA-A-BOTSHELO TRADING & PROJECTS (MAB)

Novus Holdings Limited Nu-World Holdings Limited

R

Nutun Business Services South Africa (Pty) Ltd

Ram Transport South Africa (Pty) Ltd t/a Ram Hand-to-hand Couriers

Media24 (Pty) Ltd

O

Rand Merchant Investment Holdings

Mediclinic International Limited

Ocean Network Express (ONE)

Raubex Group Limited

Mediterranean Shipping Company (Pty) Ltd

Oceana Group Limited

RCL Foods Limited

Old Mutual Insure Limited

Rebosis Property Fund Limited

Medshield Medical Aid

Old Mutual Limited

Rectron (Pty) Ltd

Merafe Resources Limited

Omnia Holdings Limited

Redefine Properties Limited

Merchants SA (Pty) Ltd

Onelogix (Pty) Ltd

Reed Exhibitions (Pty) Ltd

Metair Investments Limited

Orange River Wine Cellar Co-Op Limited

Remgro Limited

Metrofile Holdings Limited

Outdoor Network Limited

Mhlathuze Water

OUTsurance Holdings Limited

Rennies Travel (Pty) Ltd t/a Rennies BCD Travel

Mahindra & Mahindra South Africa (Pty.) Ltd

Mazars (Pty) Ltd MCMining Limited Media Development and Diversity Agency (MDDA)

Microsoft SA MiX Telematics Limited Momentum Metropolitan Holdings Limited Mondi Limited Motheo Construction Group (Pty) Ltd Mpact Limited Mr Price Group Limited MSCT BEE Services (Pty) Ltd MTN Limited

168 | TOP500 | 12TH EDITION

154 | TOP500 | 14TH EDITION

Netcare Limited

P Paramount Advanced Technologies (Pty) Ltd

Rand Water

Rentokil Initial (Pty) Ltd Reunert Limited Reutech Radar Systems a division of Reutech Limited RFG Holdings Limited

PBT Group Limited

Ricoh South Africa (Pty) Ltd

Pepkor Holdings Limited

Royal Bafokeng Platinum Limited

Petra Diamonds Southern Africa (Pty) Ltd Petroleum, Oil and Gas Corporation of South Africa (PetroSA)

S Sage South Africa (Pty) Ltd

A-Z LISTING

Salungano Group Limited

Sygnia Limited

University of South Africa

Samsung Electronics South Africa (Pty) Ltd

Syntell (Pty) Ltd

University of South Africa (UNISA)

Sanitech: a division of Waco Africa (Pty) Ltd

T

Sanlam Limited

Tarsus Distribution (Pty) Ltd

Santam Limited Santova Limited

TATA Automobile Corporation South Africa (Pty) Ltd

Sappi Southern Africa Limited

TeleMasters Holdings Limited

SAS Institute (Pty) Ltd

Telkom SA SOC Limited

VEA Road Maintenance and Civils (Pty) Ltd

Sasfin Holdings Limited

Telviva (Pty) Ltd

Verimark (Pty) Ltd

Sasol LImited

Thales South Africa Systems (Pty) Ltd

Visual International Holdings Limited

Sasol Limited (Gas division)

Tharisa Minerals (Pty) Ltd.

VKB Landbou (Pty) Ltd

Sasol Mining (Pty) Ltd

The Bidvest Group Limited

Vodacom Limited

Sea Harvest Group Limited

The Foschini Group Limited

Volkswagen of South Africa Ltd.

Sentech SOC Limited

The South African Breweries (Pty) Ltd

Voltex (Pty)Ltd

Senwes Limited

The Waste Group (Pty) Ltd

Sephaku Holdings Limited

Thrifty Car Rental South Africa

Shell Downstream South Arica (Pty) Ltd

Thungela Resources Limited

Shoprite Holdings Limited

Ti Fluid Systems

Sibanye Stillwater Limited

Tiger Brands Limited

W

Siemens (Pty) Ltd

Total South Africa (Pty) Ltd

Webber Wentzel

Sigma Connected South Africa (Pty) Ltd

Turner & Townsend Pty Ltd

Wembley Group of Companies

SilverBridge Holdings Limited

Toyota South Africa Motors (Pty) Ltd

WestconGroup SA

SkyNet Worldwide Express

Trans Hex Group Limited

Whirlpool South Africa (Pty.) Ltd

SMEC South Africa (Pty) Ltd

Transaction Capital Limited

Wideopen Platform (Pty) Ltd

South African Broadcasting Corporation Limited (SABC)

Transnet SOC Limited

Wison Bayly Holmes-Ovcon Limited

Transpaco Limited

Woolworths Holdings Limited

South African Local Government Association (SALGA)

Travel with Flair (Pty) Ltd

Woolworths South Africa (comprising Fashion, Beauty and Home)

South African Reserve Bank (SARB) South Ocean Holdings Limited South32 Limited Southern Sun Limited Spanjaard Limited Spar Group Limited Spoor & Fisher Spur Corporation Limited SRK Consulting (South Africa) (Pty) Ltd

Trellidor Holdings Limited.

Trencor Limited Trident Steel (Pty) Ltd

University of Stellenbosch University of Witwatersrand

V Value Logistics Limited

Volvo Group Southern Africa (Pty) Ltd Vunani Limited

Workforce Holdings Limited WSP

Truworths International Limited

X

Tsogo Sun Hotels Limited

Xerox - Bytes Document Solutions

Tsogo Sun Limited Turner & Townsend (Pty) Ltd

Y

TWK Agri (Pty) Ltd

York Timber Holdings Limited

Trollope Mining Services 2000 (Pty) Ltd

Stefanutti Stocks (Pty) Ltd

U

Stellenbosch Vineyard (Pty) Ltd

Umgeni-Water

Zeda Limited

Strata Mining Services (Pty) Ltd

Unilever South Africa (Pty) Ltd

Zenith Car Rental (Pty) Ltd t/a

Sun International Limited

University of KwaZulu-Natal

Avis Rent A Car

Super Group Limited

University of Limpopo

Zest Weg Group

Standard Bank Limited

Z

14TH EDITION | TOP500 | 169

14TH EDITION | TOP500 | 155

156 | TOP500 | 14TH EDITION

14TH EDITION | TOP500 | 157

Plot 107, 3 Erasmus Road. Mnandi Agricultural Holdings, Centurion, 0149 P.O. Box 54909, Wierdapark, 0149 +27 87 160 0318 thoko.tshabalala@vearoad1.co.za www.vearoad.co.za