Sunday Independent 2021-07-04

The Sunday Independent is a weekly English-language newspaper. The Sunday Independent focuses on daily national, local and international national news and analysis. Its leader and opinion page offers a platform for readers to submit their views on topical news.

South Africa
Independent Media Pty Ltd
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4 Min
‘the eoh problem’ is a lesson for sa tech and government

Wesley Diphoko wesley.diphoko@inl.co.za A few years ago, EOH was a company that filled many South Africans in tech and business with pride for its spectacular growth. Recent revelations show a dark picture of how the South African tech giant rose to prominence. EOH featured prominently at the Zondo commission during Deputy Minister of Intelligence, Zizi Kodwa’s testimony. Once the darling of the JSE, EOH fell from grace because of questionable contracts with the state. This was also revealed at the Zondo commission, during company chief executive Stephen van Coller’s appearance. How did a company with a market cap of close to R1.18 billion end up where it is today? The company suffered what can be described as “The EOH Problem”, which is the cancer also facing other tech…

2 Min
jack and jay-z music plan is good for the music industry

Wesley Diphoko wesley.diphoko@inl.co.za JAY-Z and Jack Dorsey held a half-hour conference on Twitter Spaces that outlined the future of the Tidal music platform. Tidal was recently acquired by Jack Dorsey-owned Square in a deal that keeps Jay-Z on board. Dorsey outlined how the pair started the acquisition talks: “We started talking a year ago now and saw so many parallels. I’d tell you stories about our work around helping small businesses – most of the financial industry is working against them. “And in conversation, it just became so apparent that there were so many parallels in spirit because of what a musician and a small business is going through. “What really dawned on me was how weak some of the tool sets are for artists, with analytics and data, to…

1 Min
editor’s choice

Richard Branson to fly to Space before Bezos Space tourism firm Virgin Galactic will fly its founder Richard Branson on its next test flight slated for July 11th, the company confirmed Thursday. Branson’s new flight date will come before rival Jeff Bezos is expected to fly in his own space tourism rocket on July 20th, setting the stage for a largely symbolic showdown between two billionaires racing to validate their space tourism rockets. SA healthcare retailer Clicks Group has announced the launch of its SMME supplier listing platform, reaffirming its incubation support for SA black-owned businesses. The Clicks Group has invested over R500-million in SMME suppliers in the past year and is working closely with the Department of Trade, Industry and Competition to accelerate local procurement. To kick-off the…

2 Min
state must actively find economic solutions

Pali Lehohla IN NEW Agenda Issue Number 80, the head of the National School of Government, Professor Busani Ngcaweni, and deputy director of knowledge management at the school, Jacqueline Nkate, address the question of mitigating Covid-19 and opine on the options for economic revival in South Africa. Mariana Mazzucato in Mission Economy debunks the myth of a binary of government is bad and private sector is good. She concludes that it is therefore logical to allocate government a role in delivery of programmes and the rest to be left to the private sector for the market. This is a very sad Milton Friedman’s market fundamentalist approach to development. That the government swelled in wanton corruption lends credence to Friedman’s private sector objective and the rationale for the free market as…

2 Min
bus 101 using social media to market your business

Ben Bierman BEFORE Covid-19, digital marketing was already changing the way we do business. It has grown exponentially this year. According to the UN Conference on Trade and Development, the pandemic has “triggered a digital and e-commerce turning point”. Social insights company Talkwalker also said in its recent study that 40 percent of South Africa’s population are active social media users. Therefore, not using social media to market your business effectively means you are missing out on opportunities within a significant segment of an engaged population. Here are some tips to reach your target audience through social media. Choice Create good quality and relevant content that speaks to your audience on a social media platform. Instagram for example, is perfect for brands with visual appeal; LinkedIn is the realm of…

3 Min
corporate governance under spotlight as eoh sues ex-bosses

Sandile Mchunu sandile.mchunu@inl.co.za CORPORATE wars among JSE-listed companies once again came under the spotlight early this week when EOH Holdings laid claims against its former executive directors who were allegedly fingered in corrupt activities during their tenure at the company. EOH sued its former co-founder and chief executive Asher Bohbot for R1.7 billion over material and reputational damages the company said it suffered from allegedly corrupt contracts he oversaw. The group is also filing for damages against former chief financial officer John King, former head of public sector Jehan Mackay, and the former head of EOH International, Ebrahim Laher, for a total of R6.4bn. The developments have raised the issue of corporate governance and how directors conduct themselves, which could potentially be to the detriment of the shareholders. King committee…