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Finweek - English

Finweek - English 05 March 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.

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2 min
from the editor

many kids born in the late 1980s will probably have had to endure some form of entrepreneurship day during their primary school career. It usually involved a parent staying up for all hours of the night to bake fudge, make package the products so that their child could sell them home with the day’s takings. became clear I wasn’t blessed with an entrepreneurial crafts or the like, and at school the next day, only for the kid to go On these days, it spirit, but there were those kids that just had it. Not only could they sell ice to Eskimos, they’d invent something superior to ice and hustle without needing to rope in a parent, other than for logistical support – say, helping them get their stock to and from…

4 min
how naps can boost economic growth

i’ve always been an early riser. It’s 04:36 as I write this, but then, I was also in bed quite early, getting my usual six to seven hours of sleep. This isn’t uncommon for South Africans. According to Sleep Cycle, an app that tracks sleep patterns, we’re the first to go to sleep every night – at 22:46 on average. But we’re also early risers – at 06:08 – second after Guatemalans. (Apparently the Dutch have the best sleep quality, Iranians the worst, while Greeks, Italians and Spaniards snore the most!) While these numbers suggest the average South African gets about seven hours of sleep nightly, the sample is, of course, unlikely to be representative. Yet, even seven hours is at the lower end of what’s required. Most studies agree that between seven…

4 min
action needed against municipalities

a text message from a family member moments before I started writing this column gave me a glimmer of hope that maybe the rot in our municipalities will begin to be addressed. Apparently the Hawks (the police’s Directorate for Priority Crime Investigation) is swooping down on the Kai !Garib municipality’s head office in Keimoes in the Northern Cape to make arrests for tender fraud. Earlier in February, the Hawks also arrested Buti Piet Molupi, the municipal manager of the Nala municipality (Bothaville) in the Free State for alleged irregularities surrounding the appointment of a security company, according to news reports. These are welcome actions by the police as many citizens living under the burden of inefficient and self-serving municipal councils are suffering a lack of basic service delivery, including the supply of…

3 min
in brief

“DEMOCRACY HAS BEEN SERVED.” − Ayanda Kota, chairman of the Unemployed People’s Movement (UPM), said in a statement following the Makhanda (formerly Grahamstown) High Court ruling that ordered the Makana municipality to be dissolved and placed under administration for violating its constitutional mandate by failing to provide basic services to the community. The application was brought by the UPM and other civil society organisations against the municipality, which intends to appeal the ruling. “WE DON’T HAVE RELIABILITY AND PREDICTABILITY IN OUR SYSTEM YET.” − Jan Oberholzer, chief operating officer of Eskom, spoke to finweek (see cover story on p.26) about how Eskom is prioritising the maintenance of power stations to try and stabilise energy supply. One of the immediate issues is the process of “wheeling” power across the grid, which enables companies to…

2 min
double take

THE GOOD The South African Reserve Bank (SARB) is proceeding with the sale of its stake in African Bank. The central bank has started the process to appoint an adviser to manage the sale of its 50% holding in the small commercial lender, African Bank said in a statement. The central bank acquired its stake in African Bank when the latter came out of curatorship, injecting around R5bn. “The SARB anticipates that the disposal process will be completed within 18 to 24 months after the identification of a suitable buyer,” the statement said. THE BAD In a televised interview with the SABC, former president FW de Klerk said that apartheid was not a crime against humanity, sparking angry reaction across the country. After much public outcry, the FW de Klerk Foundation agreed in…

3 min
canned wines take off in the sa market

While wine has been canned since the 1930s, this form of packaging never really took off because of the inferior quality of canned wine in comparison to bottled. The category has, however, enjoyed a revival since 2014, thanks to the development of new technologies to improve canned wine quality in combination with millennials’ eagerness to experiment with new products. In the US particularly, the category has grown by double digits each year for the past five years, topping R1.2bn in 2019, according to Nielsen. Arnold Vlok and Ruan Viljoen knew it would only be a matter of time before the trend blew over to South Africa, so the friends registered Uncanny in 2018 and started working on making their own canned wine brand. “Our goal was to create the first Wine and Spirits…