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Finweek - English

Finweek - English 9/10/2020

Finweek is South Africa’s leading financial weekly magazine focusing on investment. With its brisk, creative and authoritative analysis of business and investment issues, it’s an essential business tool in the daily battle for competitive advantage. Today's business decision-makers have to cope with increased pressure on their time and are expected, more than ever before, to succeed in the face of stiffer competition. Finweek provides relevant information in quick bytes, along with award-winning investment advice.

País:
South Africa
Idioma:
English
Editor:
Media 24 Ltd
Periodicitat:
Biweekly
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25 Números

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2 min.
from the editor

Working to a regular bi-weekly print deadline tends to turn life and the way you measure time into weekly increments. When one deadline passes, it’s back to planning the next, each time another week getting marked off, and the process starts again. its 24th week of working from in the middle of a print deadline and needing to how to meet it entirely remotely. Luckily, given the nature of the print As I write this, the finweek team enters home, having entered the lockdown figure out production process, during which, no matter how much you plan, something unexpected will inevitably occur, our very small team has become very adept at navigating crises. As a former colleague of ours always used to say: “It’s the finweek way.” So, we’ve adjusted to putting this…

5 min.
sin taxes: the devil is in the detail

We all consume way too much sugar than is good for us. I’ve tried hard to reduce my own sugar intake over the last two years, and, I thought, quite successfully, until a friend recently pointed out the sugar content of Mrs Ball’s chutney and All Gold tomato sauce – staples in the Fourie household. He won’t be invited for dinner again. But the consequences of our overindulgence is no joke. Excess sugar consumption is linked to a range of diet-related diseases, such as diabetes, cancer and heart disease. In South Africa, these issues are of particular concern. The 2016 South African Demographic and Health Survey finds that 68% of women, 31% of men and 13% of children are overweight or obese. The National Income Dynamic Survey exposes the large gender…

4 min.
can i trust government with my savings?

When I heard that the ANC was calling for the establishment of a deposit-taking state bank to compete with established commercial lenders, I wondered to myself who in their right mind will entrust their hard-earned savings with this bank, given high levels of corruption and mismanagement of state-owned enterprises (SOEs) at the hands of ANC cadres. The alleged involvement of the ANC in the looting and demise of VBS Bank has eroded public confidence in the ruling party, whose leaders are now facing a public backlash for raking in millions of rand from corrupt government tenders for personal protective equipment in the fight against Covid-19. Besides the fact that I don’t trust the ANC-led government to operate a bank ethically and competently, I have two critical questions regarding this proposed banking venture.…

3 min.
in brief

“PAYING CUSTOMERS WILL BE SADDLED WITH HOPELESSLY INSOLVENT MUNICIPALITIES THAT HAVE NO PROSPECT … OF PAYING THEIR OUTSTANDING DEBTTO ESKOM.” − Acting judge Anthony Millar ruled against Eskom’s electricity supply cuts to the Lekwa (Mpumalanga) and Ngwa the (Free State) local municipalities due to non-payment, in the South Gauteng High Court. Moneyweb reported that the utility has in the last few months limited electricity supply to these two and many other municipalities in various provinces as a strategy – after losing several court battles about the disconnections. Millar said Eskom should try to resolve disputes with municipalities before taking action that brings about huge human suffering. “ACCUSED NUMBER ONE.” − President Cyril Ramaphosa said the ANC needs to face the reality that its leaders stand accused of corruption and that the ruling party…

2 min.
double take

THE GOOD Hotel and casino group Sun International, which reopened 10 of its 11 casinos in South Africa at the start of July, said the recent easing of lockdown restrictions has resulted in improved trading activity. The group said it is confident about recovering from the pandemic. According to BDLive, group debt stood at R15.1bn at the end of the six months to end-June — an increase from R13.3bn in December, and well in excess of its R3.3bn market capitalisation. The company secured a string of concessions from lenders, while it had also raised R1.2bn through a rights offer in August. It announced that it had agreed to sell its majority stake in Latin American operation Sun Dreams to partner Nueva Inversiones Pacifico Sur for R2.7bn. THE BAD Orders placed by the Gauteng…

4 min.
taking the guesswork out of farming

james Paterson and Benji Meltzer started Aerobotics in 2014 after identifying on-farm challenges that could be solved with aerial imagery and machine learning. The duo needed aerial and satellite imagery to identify crop threats, but there were no suitable drones available at the time that matched their needs. While many would have considered this an obvious setback, the two leveraged their academic backgrounds to build their own. Both had studied mechatronics engineering at the University of Cape Town. Paterson also completed a Masters in aeronautics and astronautics at MIT and Meltzeran MSc in neurotechnology at Imperial College London. In 2014, remote sensing was in its infancy globally and still a novel concept in South Africa, with only a few farmers in the Western Cape having access to a government satellite technology programme. “We realised…