Cape Times 2025-09-26

South Africans celebrate Heritage Day as a moment of pride in our languages, rituals, music, cuisine, and sacred sites. But there is a tougher economic truth we cannot ignore: our arts, heritage, and creative industries remain underperforming assets. Globally, culture is big business. The creative economy already generates $2.25 trillion (about R38 trillion) annually and accounts for nearly 30 million jobs worldwide, according to Unesco. Yet South Africa’s creative industries contribute just under 3% of GDP – far behind their potential. The question for policymakers, investors, and business leaders this Heritage Day is simple: how do we unlock the value of our cultural wealth and convert it into revenue, jobs, and competitive brand power? Lessons from Global Case Studies n South Korea’s K-wave (Hallyu): In the early 2000s, South Korea…

The aviation sector in South Africa presents unprecedented opportunities for entrepreneurial development, with Airports Company South Africa (ACSA) positioned at the epicentre of this transformation. ACSA achieved a notable improvement in all of its financial metrics, most notably reporting increases in both revenue and earnings, signaling a robust recovery and expansion in the aviation retail sector. This analysis examines the strategic value that ACSA’s retail programme brings to aspirant entrepreneurs, exploring both the quantitative scale of opportunities and the qualitative benefits for small business development within South Africa’s premier aviation infrastructure. ACSA’s Retail Infrastructure: Scale and Scope ACSA operates nine of South Africa’s airports, creating an extensive network of retail opportunities across the country's most strategic transport hubs. The company's retail portfolio represents a significant component of its commercial operations,…

South Africa’s annual producer price inflation (PPI) for final manufactured goods quickened to 2.1% in August, up from 1.5% in July, Statistics South Africa (Stats SA) reported yesterday. The PPI rose 0.3% on a monthly basis, marking a period of rising inflationary pressures, particularly driven by key sectors such as food products and beverages. Stats SA said the biggest boost to the headline figure came from food, beverages and tobacco products, which grew 4.3% year-on-year, contributing 1.3 percentage points to overall inflation. Monthly increases were mainly driven by food, beverages and tobacco, coke, petroleum, chemical, rubber and plastics, and metals, machinery and computing equipment. The PPI for intermediate manufactured goods climbed to 6.5% y/y in August from 6.4% in July, with basic and fabricated metals providing the largest push. Month-on-month,…

When Giorgio Armani passed away at the age of 91, the legendary Italian fashion designer and founder of the Armani empire, left behind more than a valuable multinational, he left a carefully scripted succession plan for the luxury-goods business he had built since 1975. In his will, Armani instructed his heirs to sell off stakes in the company gradually. He set specific timelines and even named preferred buyers, such as Louis Vuitton Moët Hennessy (LVMH) and L’Oréal. Since his death, the Armani directives have been making international headlines for the detail they contain and the thought that went into them. Armani’s instructions also offer valuable lessons for South African business owners who want to ensure that their companies – small, medium or large – are preserved and not left in…

In many South African communities, a funeral is more than a private family matter. It is a cultural commitment that brings neighbours, relatives, and friends together to honour the life of someone who has passed away, and to give them a dignified send-off. While the rituals carry deep meaning, the financial reality is heavy. With families paying for the casket, burial plot, and headstone, as well as catering for mourners and, in some cases, repatriating the body to the person’s place of birth, South Africa is ranked among the most expensive countries in the world to hold a funeral. From the moment someone becomes late, the family home is filled with visitors. Out of respect, visitors are offered tea or a meal, depending on the time of day. This generosity,…

South African social influencers and gig economy participants are now firmly in Sars’ crosshairs, following the revenue authority’s announcement of a new taxpayer segment aimed at tightening compliance in the digital space. This development signals a clear shift in Sars’ strategy: all income, whether received in cash, products, travel, or other perks, must be declared and taxed. Earlier this month, Sars issued a media release outlining its zero-tolerance stance on undeclared income from influencers and gig workers. The announcement also guided how these earners should meet their tax obligations. As digital marketing and online entrepreneurship continue to evolve, Sars is determined to ensure that these emerging income streams are not excluded from the tax net. According to Jashwin Baijoo, associate director and head of strategic engagement and compliance at Tax…