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Viewpoints: Thriving at work post covid-19

Speaker, Facilitator, CoachWho would have thought that thriving at work post COVID-19 would be an issue? Businesses have had to evolve and transform in order to survive. And as business rewrites its ‘new normal’ and navigates ‘business unusual’, employees need to consciously do the same. Usha Maharaj CA(SA)Passionate about women empowerment and human potential Thriving…

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Viewpoints: Explaining tokenisation to six-year-olds

Blockchain SpecialistWhat is a blockchain-based ‘token’? It can be tricky to wrap one’s mind around concepts such as the tokenisation of financial assets, token fractionalisation, and how smart contracts behave in certain scenarios, even for seasoned DeFi (decentralised finance which does not use intermediaries) industry practitioners. Monica Singer CA(SA)Blockchain Evangelistfor Consensys Chances are you haven’t…

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Online assessment during COVID-19: The role of educators and students

Being an educator in South Africa is truly inspiring, as we facilitate learning and development for our students in the post-school space and assist them in developing their competence (this includes knowledge, skills and attributes) in the professional accounting arena. The development of these competencies is what builds capacity and improves our economic outlook over…

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On strategy: An interview with Michelle Olckers

I have always been intrigued by ‘strategy’, the thing that ultimately sets a company apart from the next, and probably, together with strong leadership, the main driver behind sustained value creation. In a series of interviews, I explore the approaches of different business leaders (all chartered accountants) to strategy. This month I had the privilege…

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AdviceArticlesView points Ronel Jooste_SM

Viewpoints: Pivoting: The new buzz word

Financial Consultant & CoachPivoting became an essential survival tool for multiple entrepreneurs, businesses and employees whose income was impacted in this time. Despite all the negativity, it was inspiring to witness the creativity and future success stories that arose as a result of pivoting. Ronel Jooste CA(SA)Director at FinanciallyFiTLifeand author, speaker and radio talk show…

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AdviceArticlesView points Mike Lledo_SM

Viewpoints: Millennials – you have hit the jackpot!

Wealth Advisor‘Compound interest is the Eighth Wonder of the World. He who understands it earns it’ – Albert Einstein. ‘My wealth has come from a combination of living in America, some lucky genes, and compound interest’ – Warren Buffett. Time is your jackpot! Mike Lledo CA(SA)IndependentFinancial Services Consultant ’Affluent millennials are economically optimistic but afraid…

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Advice: When can losses on shareholders’ loans be claimed as a tax deduction?

When operating in a distress economy such as we find ourselves in these days, it is an inevitable consequence that shareholders will find themselves disposing of companies for less than they paid for them, whether the companies were formed or purchased by those shareholders. But when can losses on shareholders’ loans be claimed as a…

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Advice: On strategy – A passion for entrepreneurship

I have always been intrigued by ‘strategy’, the thing that ultimately sets a company apart from the next and probably, together with strong leadership, the main driver behind sustained value creation. In a series of interviews, I am exploring the different approaches of different business leaders (all chartered accountants) to strategy. I had a virtual…

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Advice: Augmented Auditor 4.0 Audit is dead, assurance is the new orange

Auditors will be augmented with technology towards becoming Augmented Auditors 4.0 (Audit 4.0) if the profession wants to remain relevant. As a profession, auditors currently find themselves somewhere between Audit 2.0 and Audit 3.0, with many still relying on outdated tools in a modern business environment. Given the volume of transactions which businesses process daily,…

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Viewpoints: Supplementary budget 2020

TAX Specialist On 24 June 2020, Finance Minister Tito Mboweni tabled a supplementary budget necessitated by the outbreak of the COVID-19 pandemic and economic downturn. This budget introduced adjustments to the original budget tabled in February 2020 and formalised the two tax bills which provide relief to taxpayers in response to COVID-19. Furthermore it sets…

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Viewpoints: Adjusting our sails to COVID-19

Leadership Advisor‘The pessimist complains about the wind. The optimist expects it to change. The leader adjusts the sails.’ So says leadership expert John Maxwell. How are we responding to the COVID-19 crisis? Is our leadership style still excellent? Are we maintaining a purpose-driven focus? Our world is reeling from the far-reaching effects of a pandemic…

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Viewpoints: Retail Central Bank Digital Currency (CBDC)

Blockchain SpecialistCentral banks have an opportunity to keep pace with technological change and enable the evolution toward the future of money. With COVID-19 and the risk that banknotes could be infected, digital payment solutions are increasingly top of mind and what citizens want. A major vulnerability today is that depositors could lose their deposits due…

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Viewpoints: Fresh start

Organisation Development, (OD) Consultant Writing feels refreshing and freeing. Re-entry from a significant time in our global history is creating many opportunities to redefine our collective paths, expectations of our chosen work and associated societal norms. Our insights come with huge responsibilities. As COVID-19 is spreading rapidly and affecting every facet of our lives, we…

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Viewpoints: Call for women to step up

Speaker, Facilitator, CoachDecades into the gender diversity era, women remain underrepresented in leadership positions and continue to earn a fraction of their male counterparts. Projecting the current trends, according to the World Economic Forum, it may take up to 202 years to close the gender pay gap. True diversity in every respect (gender, race, culture,…

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AdviceArticlesView points Paul Plummer_SM

Viewpoints: The unexpected consequences of leadership decisions

Business Innovator and CatalystAs leaders, our decisions are powerful. They have ripple-like effects, both positive and negative, that in large we cannot always anticipate. I offer no insight as to how to be a better oracle when making decisions but merely offers anecdotal macro trend information on some of the unexpected consequences of the global…

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AdviceArticlesView points Ronel Jooste_SM

Viewpoints: COVID-19 survival tips for entrepreneurs

Financial Consultant & CoachAs South Africans, we are used to facing multiple challenges and conquering those challenges. We are warriors. We are strong. We are survivors. We were hit hard but we will fight this. We will come out stronger than before. Ronel Jooste CA(SA)Director at FinanciallyFiTLifeand author, speaker and radio talk show host Cash…

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Viewpoints: Learning about blockchain

Blockchain SpecialistUnderstanding blockchain is daunting because the technology is quickly evolving and the general population has yet to experience how it will change our daily lives. Many enthusiasts have equated the current blockchain environment to the World Wide Web in 1997. Similarly, bitcoin and crypto are the forays into blockchain technology. But there is a…

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AdviceArticlesView points Ronel Jooste_SM

Viewpoints: Why I love entrepreneurship

Financial Consultant & CoachConsidering the current state of the economy and challenges in South Africa, more people turn to entrepreneurship. Some because they want to, others because they have to because of retrenchments, unemployment and financial strain. Entrepreneurship can provide a solution to many challenges though Ronel Jooste CA(SA)Director at FinanciallyFiTLifeand author, speaker and radio…

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Viewpoints: Design thinking for entrepreneurs

Social Enterprises AdvisorIs there a more opportune time than now to talk about entrepreneurship in South Africa? There are several opportunities related to global problems needing local solutions, for example as climate change, increased proliferation of technology, and new ways of working. Cracking these problems require creative problem-solving and thinking outside of the box. Priya…

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AdviceArticlesView points Paul Plummer_SM

Viewpoints: Adversity is hi-octane fuel for entrepreneurship

Business Innovator and CatalystAdversity is one of the most powerful forces driving progression, innovation and entrepreneurship. Depending on your approach it’s either an insurmountable obstacle or a ramp for your successful trajectory. It will force you to choose to bring out the best or the worst in you. Paul Plummer CA(SA)Founding Member of Blackslope There…

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Advice: Challenging the state on impact investing

Paolo Giuricich CA(SA) Founder and owner of smarter EQ A while back terms like ‘Fourth Industrial Revolution’ (4IR) and ‘gig economy’ were foreign to us. Today, these are overused terms. The practicalities of this ‘future’ are with us already and require us to respond appropriately to survive in business. For centuries, people have been performing…

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Academia or corporate – who’s more satisfied? A millennial analysis

Retaining millennials is becoming an increasing problem for employers throughout the world. High employee turnover disrupts an organisation’s productivity levels and also has a negative impact on financial performance. By reducing employee turnover, organisations are able to be more competitive in the market. Studies have shown that employee turnover disrupts productivity-related outcomes and has a…

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Vulnerability in Leadership – A Characteristic That Shouldn’t be Overlooked.

In society, conventional wisdom holds that it is difficult to lead or negotiate or make demands from a position of perceived weakness. Leaders tend to adopt more of a stern, sometimes tyrannous attitude as a means to be taken seriously. Therefore, people, especially leaders, are expected to never show vulnerability. It now turns out that…

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SPONSORED CONTENT: Ghost employees could cost you your business

The occurrence of ghost employees on a company’s payroll system ranks as the most difficult type of payroll fraud to detect, particularly in larger companies where no proper controls exist. Over time, this can pose a serious threat to the organisation’s profitability and sustainability, declares CRS Technologies general manager Ian McAlister. “A ghost employee is…

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We can all lead change

South Africa is facing a crisis of confidence from inside the country and internationally. SAICA and the Accountancy profession are no exception. When organisations, communities, or societies face intractable challenges, the cries for leadership can be deafening. Often these cries reflect the longing for individuals who possess special talents and attributes to inspire their organisations…

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Investments in venture capital companies not looking so attractive anymore

National Treasury yesterday released the draft bills for public comment, which once approved will serve to effect the legislative amendments announced as part of the 2019 Budget Review. Of interest to the individual taxpayer and especially one whom has surplus funds available for investment is the proposed changes to cap the tax deduction available in…

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How SARS helps leverage your investment back into SA’s economy

By Darryn Faulds, Fund Manager at MeTTa Capital Negativity around South Africa Inc. has been building for some time with questions swirling over the performance of the country’s economy, its struggling equities market, corporate scandals as well as heated politics. Amid strained performances for many stocks on the JSE, a growing chorus of commentators have…

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Opinion piece: Legacy modernisation is crucial to business survival

By Yamini Gajapathy, Head – Modern Application Services –South Africa, Wipro Limited When considering application modernisation and management, corporates face the challenge of striking the right balance between cost, quality and time to market. The fundamental aim of application modernisation is to create new business value from existing applications, which were designed to perform a…

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SOE boards: It matters who gets appointed and how they get appointed

Chief Justice Mogoeng Mogoeng, during his address at The Directors Event in Sandton, highlighted the issue of board and other leadership appointments in the public sector.  “I think we should begin to think about tests that people must be subjected to before they can be elevated to positions of high responsibility,” he said. “It is…

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Ramaphosa’s success plan for SA’s business and government sectors

Authored by: Marisa Jacobs, Director at Xpatweb President Cyril Ramaphosa shared an optimistic lookout on the future for the Business and Government sectors within South Africa, at his State of Nation Address (SONA) on 20 June 2019. During the address, President Ramaphosa continuously encouraged Foreign Direct Investment (FDI) confirming that they continue to build a…

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ITC Results: Transformation initiatives are paying off

Despite chartered accountancy being one of those fields that faces a critical skills shortage, the Department of Higher Education and Training’s Top 100 scarcest skills in the country notes that there continues to be a shortage of chartered accountants entering the profession. Moreover, 70% of those in the chartered accountancy profession are white. With the…

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Cover Story – Leading from the heart

From managing a large retirement fund to ensuring safer skies in the country, Thomas Kgokolo, interim CEO of Air Traffic Navigation Services (ATNS), is passionate about creating a positive impact in corporate South Africa through good governance and sustainable leadership. Read the full article here. Watch the video interview below:

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Leadership – The power to make or break

Today’s leaders have a far wider mandate than yesterday’s ‘number crunchers’ with an influence that extends beyond just their company. This is evident in the vast cases of corruption and poor governance in corporate South Africa that have tarnished the integrity and credibility of our finance profession. However, the profession can rebuild trust at lightning…

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Focus: Leadership – Practical ways to ensure your business enjoys the benefits of gender equality

Gender equality is not about being politically correct and keeping the peace – it’s proven to be a factor in whether or not societies thrive and has been identified as a business competitive advantage. Your business needs to ensure you’re enjoying the benefits of improved gender parity to give you the best chance at sustainable…

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Better board-committee communication will mitigate risk

By George Williams, Director of Risk Advisory Services at BDO Audit committees are an organisation’s primary resource for oversight of the financial reporting process, the audit process, the company’s system of internal controls and compliance with laws and regulations. However, recent corporate failures, and some of the revelations emerging from the Zondo Commission of Inquiry, indicate…

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Travel allowances – This is what you need to know

Travel allowance is granted to employees who travel for business purposes and it is granted to finance a portion of an employee’s transport costs. Many payroll professionals, however, struggle to come to grips with the South African Revenue Service’s (SARS) travel allowance system, and employees are notoriously lax when it comes to recordkeeping of their…

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Thorough background screening checks vs. online searches – a digital predicament we shouldn’t be caught up in

The evolving digital world and resultant online presence of the population is no doubt changing the way people engage and how business is conducted – but also what information can be sourced online, prior to such engagement taking place. While available online information may give previously unknown insights, is it enough to truly know who…

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Understanding the importance of asset allocation and stock selection

Andrew Möller, Director and Chief Executive Officer, Citadel One of the oldest debates in investment circles is whether asset allocation or stock selection is the main driver of portfolio performance. As with the active versus passive debate, however, any successful investor will have realised by now that it is foolish to be in either camp,…

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SA economy a ticking time bomb unless we achieve policy certainty

Business investment is dependent on political and policy stability and time is running out The South African economy is in desperate need of a boost and business holds the key. But before businesses will start committing to the significant investment that the domestic economy needs, policy certainty is crucial. This was the overall sentiment from…

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SARS improving service delivery – 2019 tax return filing season: what this all really means

SARS released its notice today announcing the up-coming 2019 tax return filing season for individual and trust taxpayers. Various changes have been announced which according to SARS will make it simpler and more convenient for taxpayers to file their tax returns. The 2019 tax season will start on 1 July 2019 where taxpayers use eFiling…

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Opinion piece: Financial services and the cloud – what’s the next big challenge?

By Felix Antonysamy – Business Development Manager, Banking for Africa, Wipro Limited In the South African context, financial services companies have been slow in adoption of cloud services however, the last year or two has seen a significant shift in this mindset, with all South African banks steadily moving their infrastructure to the cloud. It…

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Significant changes in the pipeline – taxation of expats in South Africa

By Joon Chong, a Partner and Wesley Grimm, an Associate (assisted by Jayshall Vassen) at Webber Wentzel Some South African tax residents working abroad, often referred to as “expats”, are grumbling about changes to the Income Tax Act, 1962 (the Act) which comes into effect on 1 March 2020. Expats who may have previously benefitted from not…

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Opinion Piece: Not embracing the cloud can dull your competitive edge

By Hemant Harie, Managing Director at Gabsten Technologies 30 May 2019 Digital transformation is essential if any organisation is to remain relevant today and future proof their foundation. Cloud platforms and services are part and parcel of this, and there is a general understanding that organisations ‘must’ migrate to the cloud. However, despite this, many…

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AdviceArticlesRecommend IFRS 17

Recommend: IFRS 17: Before Accepting Your Sustainability Assurance Engagement

Are you aware that the Independent Regulatory Board for Auditors (IRBA) has developed and issued South African Assurance Engagements Practice Statement (SAAEPS) 1, Sustainability Assurance Engagements: Rational Purpose, Appropriateness of Underlying Subject Matter and Suitability of Criteria? The IRBA seeks to elicit feedback on implementing SAAEPS 1 by 15 December 2019. Read the full article…

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Responding to heightened scrutiny: Three focus areas for governing bodies

Governing bodies, and the role they play, are under the spotlight like never before. How should members of governing bodies ensure that they are covering all the bases? By Parmi Natesan Thanks to the litany of recent governance failures, and the high-profile scandals in the private and public sectors, governance has shot up the public…

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Helping Taxpayers Navigate the Carbon Tax Laws

By Gillian Niven & Nirvasha Singh Partners at Webber Wentzel The Carbon Tax Act 15 of 2019 (Carbon Tax Act), the Customs and Excise Act 91 of 1964 (Customs Act) and the Customs and Excise Amendment Act 13 of 2019 (Customs Amendment Act) pose numerous uncertainties on the road to implementation of carbon tax.  We have mapped out below a pathway…

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Only 50% of SA workforce believes their workspace is psychologically safe

Helene Vermaak, Business Director at The Human Edge Research conducted by organisational culture experts The Human Edge suggests that only half of the South African working population sees their work environment as psychologically safe, with only 24% of those people surveyed willing to recommend their current employer as a place to work to a friend.…

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Governance reforms could boost Africa’s economic output by$23bn – PwC Global Economy Watch

Continent-wide analysis of African economies demonstrates positive correlation between economic growth and rising quality of governance indicators African economies could increase their output by $23bn if each economy applied governance reforms equivalent to those made by Cote d’Ivoire since 2013.The countries with the largest potential gains are those with a comparatively high GDP per head…

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The State of the Insurance Market – Is your business ready to take on the risks it could face?

Businesses operate in a time of unprecedented volatility across economics, demographics and geopolitics.  More than ever you need to explore new ways to cope with evolving and inter-related complexities in a challenging business environment. Aon South Africa, a leading insurance brokerage and risk advisor, has surveyed the risk and insurance landscape and reveal their take…

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South African University students to benefit from free bitcoin

– Leading global bitcoin marketplace Paxful hopes to drive entrepreneurship in the bitcoin economy. – Paxful has +2 million users globally; South Africa is one of the top markets for Paxful internationally. Statistics South Africa on Tuesday announced that the unemployment rate has seen its highest increase since 2017. Alarmingly, the youth unemployment rate remains at…

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How will the future workplace function? – Global design and innovation studio CEO shares insight

How will the future workplace function? Will the rise of digital dictate our working life as well as our social life? Chief Executive of global design and innovation studio Brilliant Basics, Anand Verma gives his thoughts on the future of work and how managers and organisations will have to start adapting to their employees with…

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Data Management as a Service – a solution for the mining digital revolution

Mining has always been an intensive industry, from the perspective of resources, time, labour and people safety. The ability to analyse and derive intelligence from vast amounts of data generated across the various aspects of any mine is a revolution in this sector. With the incorporation of the Internet of Things (IoT) as well as…

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I know I need a Compliance Function, but what do I do next?

While most organisations recognise the need for a compliance function, the complex nature of this essential structure renders many unsure of how to establish a comprehensive, dynamic and specific programme that addresses the basics and ensures the organisation remains compliant in all spheres. Designing a programme or framework that identifies risks helps an organisation to…

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De-risking South Africa’s transition to a new energy future

On the African continent, there is appetite for major infrastructure developments that are only hampered by challenges of capacity, whereas the picture is almost inverse in South Africa at present. “We are sitting on a GDP growth rate of 1.5% at present that affects infrastructure investment, which is further exacerbated by an investment freeze as…

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Sage research reveals that 90% of accountants worldwide believe there has been a cultural shift in the accountancy profession

Accounting firms prepare for the future through updated hiring practices, expanded services and automation Johannesburg, South Africa  — May 2nd, 2019 — Sage, the market leader in cloud business management solutions, has released its annual Practice of Now research report, revealing a shifting cultural landscape in the accounting sector driven by evolving client demands and…

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JSE proposes changes to Listings Requirements to strengthen regulation of primary listings

by Elodie Maume, Senior Professional Support Lawyer & Colin du Toit, Partner at Webber Wentzel ​​On 12 April 2019, the JSE published for comment proposed amendments to its Listings Requirements to strengthen the regulation of primary listings and secondary listings. The proposed changes take account of the public comments raised during the consultation process that kicked…

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Finance and Business2030 was launched on 2 April, a key sustainability programme bringing leaders in the city together to help implement the UN Sustainable Development goals

Tuesday night (2 April) saw the launch of Finance & Business2030, a key sustainability programme bringing leaders in the city together to help implement the UN Sustainable Development goals. Finance professionals from various sectors came together to develop a plan of action for the community focused on how best to achieve the SDGs (Sustainable Development…

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Succession planning is critical to sustainability

Recent events in both the public and private sectors are again highlighting the key role that proper succession planning plays in supporting any organisation’s sustainability, particularly when it comes to CEOs and governing-body chairs. Poor succession planning inevitably creates a leadership vacuum at both governing body and executive management level resulting in a loss of…

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Can South Africa learn lessons from the mega mistakes of Eskom’s mega projects?

Kusile and Medupi power stations continue to come under fire as poorly managed and ill-designed, remaining years behind completion dates amidst drastically rising costs that now stand at R300-billion, by conservative estimates. Despite being the most expensive projects in the world, these stations are reportedly failing in reliability, achieving a 40% rate at best. In…

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South African Investors Increasingly Using ETFs to Diversify Portfolios and Manage Risk

An ETF aims to passively mimic the performance of an overall index, such as the JSE, by tracking the movements of the underlying basket of shares or assets that make up that index. These instruments differ from actively managed investment products like unit trusts in that they tend to have very low costs as they…

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New technologies ease SA into a low-carbon future

By Alessandra Pardini, a Partner at Webber Wentzel Power shortages and a transition to a lower-carbon future, in line with SA’s Paris Agreement commitments, will require the country to harness new technologies. Energy storage, which will be a critical element of a modern power system, offers potential for local industrialisation and job creation. South Africans,…

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