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PAMPER HAMPER FOR VALENTINE WINNER

Merilyn Howes (left), with Liezel van Antwerp, Pronel’s recruitment operations manager.   

Each year, Pronel runs a fun competition around Valentine’s Day with a lucky winner walking away with a pamper hamper with all sorts of goodies. This year’s competition was no different that required entrants to name Pronel’s recruitment operations manager. The answer is, of course, Liezel van Antwerp with lucky winner Merilyn Howes walking off with the hamper.

   
   
 
     
  Today in History  
     
 

1932: The neutron is discovered by English physicist James Chadwick was later awarded the Nobel Prize for his discovery.

Today, No Brainer Day, is in recognition of all those times the answer was so obvious, it did not require a question.

 
     
  News worth knowing  
     
 

GATVOL CLUBS GIVE KZN ATHLETICS EXEC THE BOOT

An overwhelming majority of athletic clubs affiliated to the KwaZulu-Natal Athletics Association fired the executive at an extra-ordinary meeting at the Moses Mabhida Stadium this past weekend. Citing a litany of grievances, including a long-standing conflict with Athletics South Africa, 126 clubs of 164 legitimate entities that have purchased 2019 licenses, resolved to relieve the executive of all its duties with immediate effect. In its motivation, the clubs said the  “impasse has severely impacted the day-to-day administration of athletics in KZN at the busiest time of the year” and notwithstanding the practical implications, getting rid of the executive was the first, necessary move. For the full media release click here.

 
 

5G IS COMING, THANKS TO RAIN AND HUAWEI

SA’s data-only network operator Rain, which is partly owned by businessmen Patrice Motsepe, Paul Harris and Michael Jordaan, has partnered with Chinese telecoms giant Huawei to roll out the high-speed 5G network by the middle of 2019. The roll-out will make SA one of the first countries to launch 5G, which promises faster download speeds, reliable network connectivity and the ability to connect more devices at once. "The network will provide fibre-like speeds without installation complexities, time delays and cost of laying fibre in under-serviced areas," Rain CEO Willem Roos said yesterday. Rain and Huawei made the announcement at the 2019 Mobile World Congress in Barcelona, Spain, where 5G took centre stage. Roos said Rain would take advantage of its existing 4G network and allocated spectrum. Huawei said its products would enable Rain to use the existing network, saying leveraging existing infrastructure would accelerate the roll-out of the 5G network. Rain had about 3,000 4G sites in SA, Roos said. "We hope to have rolled out a significant number of towers in [Cape Town, Johannesburg and Durban] by mid-2019 to offer commercial services to clients." (BDLive)

 
 

RADEBE HINTS AT HEFTY FUEL PRICE HIKE

Minister of energy Jeff Radebe told Parliament's oversight committee on energy yesterday that difficulties beyond the government's control look set to inform the fuel price announcement due at the end of the week. His remarks strongly point towards a fuel price hike for motorists. Revised fuel prices generally come into effect on the first Wednesday of a new month. The Automobile Association announced in mid-February that the price of petrol looked set to increase by 43 cents per litre in March, based on unaudited mid-month fuel price data. (Fin24)

 
 

MOTHER CITY KEEN TO BYPASS  ESKOM

The city of Cape Town is pushing for provisions to be put in place to allow municipalities to procure energy directly from Independent Power Producers (IPPs). Under current regulations, municipalities can buy electricity directly from IPPs if they get ministerial approval. The city decided to approach the courts in 2017 to challenge Eskom’s exclusive right to buy electricity from IPPs for resale. Cape Town’s legal bid comes as IPPs are under the spotlight following the recent announcement by president Cyril Ramaphosa that Eskom will be split into three separate units — generation, transmission and distribution. Trade unions argue that the proposed split will not solve Eskom’s governance and debt problems, and that it will lead to job losses.  (BDLive)

 
 

PIC HAS 15 DAYS TO RECOVER AYO MONEY

The PIC says it has appointed Gwina Attorneys to assist it in recovering the R4.3 billion capital it invested in AYO Technology Solutions. The state asset manager confirmed yesterday that it was issued a compliance notice on February 21 which requires it to recover the capital investment made to AYO within 15 business days of the date of the notice, and provide the commissioner of the Companies and Intellectual Property Commission (CIPC) with confirmation. According to the notice, it must also recover any interest that may have accrued on the investment within six months. The CIPC stated that based on the available turnover figures, the PIC did not act in good faith and in the best of interest of the company when "it decided to invest the disproportionate amount of R4.3 billion in AYO". Yesterday afternoon, AYO said it believed there were no grounds for the CIPC to order the PIC to recoup its investment in the company.  (Fin24)

 
 

AT LONG LAST, STEINHOFF’S FORENSIC REPORT IS READY

Fourteen months after it was to hired to conduct an independent forensic investigation into Steinhoff, PwC is expected to submit its long-awaited report to the company's leadership by the end of February. PwC was hired by the Stellenbosch-headquartered furniture and household goods conglomerate to scrutinise its books in the wake of the abrupt resignation of Steinhoff CEO Markus Jooste in December 2017 after the group's auditors flagged accounting irregularities. The findings of the forensic probe were initially expected to be handed to Steinhoff leadership in December 2018, but this was delayed until February 2019. The work was "significantly more complex than initially anticipated, with multiple workstreams operating across a number of jurisdictions" Steinhoff said in a market update last year. PwC has not publicly commented on the content of the report. (Fin24)

 
 

SHOPRITE SETS SIGHTS ON BETTER TIMES

Africa's largest supermarket group, Shoprite Holdings, said its outlook could improve after its worst first-half performance in more than a decade, hit by supply problems in South Africa and a currency devaluation in Angola. "Since January 2019, an improved sales trend is evident," the group said yesterday, adding though that its weak trading in July-December last year meant it was unlikely to achieve growth for the full year ending in June 2019. Shoprite had fared better than many thanks to its focus on budget-conscious consumers, but it was hit in July-December by deflation in basic food categories and supply constraints stemming from strikes last May and June at its largest distribution centre in South Africa and a new IT system. Total group sales across Shoprite's more than 2 800 outlets in Africa rose just 0.2% in July-December to R75.8 billion, while like-for-like sales declined by 2.7% from a year earlier. (Reuters)

 
 

SIMPLIFIED SHOPRITE SHARE STRUCTURE ON THE CARDS

Shoprite said its talks with Thibault Square Financial Services would simplify its share structure and voting rights. Shoprite's capital structure currently consists of two share classes - Shoprite Holdings ordinary shares and Shoprite Holdings deferred shares - which carry about 32.3% of the voting rights of Shoprite, it said. "The proposed transaction will simplify the company's voting share structure and align the company with international best corporate governance practice," it said. Furthermore, the deal will ensure that all remaining shares in the company have equal economic and voting rights, it added. Thibault is an investment vehicle of Christo Wiese, who is Shoprite's majority shareholder. (Reuters)

 
 

2.2 MILLION CUSTOMERS TO BREAK EVEN IN 2022, SAYS TYMEBANK

TymeBank, one of several digital-only startups aiming to shake up South Africa's banking industry, could break even by 2022, the bank's executives said yesterday. The lender, backed by billionaire Patrice Motsepe's investment group African Rainbow Capital (ARC), has attracted 80 000 customers since a soft launch in November and is targeting 21 million people it says are not adequately served by established rivals. Deputy CEO Tauriq Keraan told a presentation on Tuesday that TymeBank, which officially launched this week, could break even in 2022 if it attracted 2.2 million active customers and lent to 6% of them. CEO Sandile Shabalala said will offer much lower fees than rivals because it has no branches and has used technology to cut costs. Shabalala said the majority of the bank's income would come from lending. TymeBank was in talks with a major bank to offer a credit card, and planned to launch a separate unsecured lending pilot in the second half of this year, he said. (Reuters)

 
 

PORTENTS POINT TO DELAYED BREXIT DEADLINE

The risk that Britain will crash out of the EU without an agreement on March 29 has receded in the past two weeks, some banks and asset managers say, citing expectations that the exit deadline will be extended to allow lawmakers to reach a deal. At the end of January, banks informally canvassed by Reuters for their forecasts saw the no-deal probability as low but rising. Some of those banks have since revised down that risk. Prime Minister Theresa May yesterday offered parliament the chance to vote on delaying Brexit or opting for a no-deal outcome if lawmakers again reject in a planned vote on March 12 the agreement she has negotiated with the European Union. (Reuters)

 
 

IS PALLADIUM HEADING FOR A BLOW-OUT?

Palladium’s deficit-driven ascent has some analysts warning of the growing potential for a correction given the rapid sprint upward. The silvery-white metal used to control harmful emissions in petrol-fueled cars has surged about 40% in four months, hitting repeated records, as a supply deficit deepens and demand surges. It’s the top-performing raw material tracked by Bloomberg this year, and the threat of a strike by a mining union in key producer SA has added extra momentum this week. Yet as palladium widens its premium over other metals — including a near-US$700 (about R9 700) gap with sister metal platinum — banks, including Saxo Bank and Commerzbank say gains look increasingly unsustainable. More than 80% of palladium comes as a byproduct from nickel mining in Russia and platinum mining in SA, so supplies depend on the extraction level in other minerals. (Bloomberg)

 
     
  Advertorial  
     
   
 

Managing Generations in the Workplace


Have you heard employees in your workplace moan about this generation? Saying things like: "they are so entitled, they have no work ethic, they can't get their heads out of their phones..." or have you yourself been frustrated by the exact same thing?  This session is for you.

In this training session you will learn:

  1. How to better manage the generations in your workplace, without losing your mind
  2. 5 ways to get the best out of your Millennials and the next generation now entering the workplace (Generation Z)
  3. What the biggest mistake is, that you are making in dealing with the Millennials
  4. This training course will help you to be aware of ways you can maximise the skills of the generations in your workplace

Date: 27th February 2019 in Pietermaritzburg (venue to be confirmed)
Duration:  4 hours (13:00-17:00)
Cost:  R500 per person or R400 per person for 2 or more
Spaces are limited - so please be sure to book soon.

 

(Terms and Conditions Apply)

 

Book Now:  Shan Cade |  shan@shancade.co.za  | 078 801 0896
www.shancade.co.za

 
     
  events  
     
 
6 MARCH 2019
 
 

EFFECTIVE DELEGATION, GIVING INSTRUCTIONS & HOW TO BE ASSERTIVE

TRAINER: Brenda Eckstein – Brenda Eckstein International 

Time:  08:30 – 12:30
Venue:  Chamber House, Royal Showgrounds
COST (includes vat)
Members R675 p/p, R640 p/p for 3/more, R590 p/p for 5/more
Non-members R895 p/p, R875 p/p for 3/more, R850 p/p for 5/more
OVERVIEW
Poor communication is often stated as a major problem in firms and businesses and prevents progress. 
Improve your skills in this training session and you’ll get better results and have more time for strategic issues.

The purpose of this training is to enhance your skills and enable you to achieve better results by:
• Practising and applying the simple BEI ‘10-step approach to delegating effectively’. 
• Saving time when delegating through having positive results thus allowing more time for you to
engage in strategic and other important activities.
• Giving instructions more effectively.
• Knowing when to delegate and when to instruct.
• Confidently expressing yourself using a simple assertiveness formula thus achieving better results and avoiding aggression ……… And much more!

WHO SHOULD ATTEND
Leaders, managers and others interested in communicating more effectively.

 
   
     
  QUOTE  
     
 
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This world is a comedy to those that think, a tragedy to those that feel. 

Horace Walpole

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  financial indicators  
     
 
Dollar R13.83 - 0.11%
Pound R18.23 - 0.04%
Euro R15.75 + 0.01%
Yen 0.125105  
Repo 6.75  
Platinum $ 861.00 + 0.58%
Gold $ 1327.25 - 0.10%
Oil $ 66.75 + 0.08%
All Share 56342.86 + 0.68%
Prime 10.25  
 
 

These rates are correct at time of going to press.