Kaya Biz

KAYA 959  |  Podcast , ±11 min episodes every 14 hours  |  Broadcast schedule  | 
At the helm of Gauteng’s biggest business radio show, Kaya Biz, is Gugulethu who will be leading the conversation on what is next for the Afropolitan business landscape. The show presents local and international business news, entrepreneurship, corporate and investment banking. Since its inception in May 2006 Kaya Biz has grown from a half-an-hour daily finance update to an hour show bringing compelling business news and market reviews to listeners.

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Momentum Metropolitan is championing employee volunteerism

Monique Schehle – Insights Consultant at Momentum Metropolitan talks about Volunteerism is much needed beacon of light and positivity in South Africa. After a decline during the COVID-19 pandemic, corporate volunteerism is again thriving in the South African private sector 1,2, with many larger companies now having employee volunteering programmes (EVPs). Given the surge of activity in this space, Momentum Metropolitan recently commissioned a comprehensive research study, the Momentum Metropolitan Lesedi Report, which delved deeper into the post-pandemic state of volunteerism in South Africa.

Driven by Momentum Metropolitan’s Corporate Social Investment (CSI) arm, the research was conducted among its employees, employees from other major corporations and representatives from various local non-profit organisations (NPOs).

Tshego Bokaba, CSI Manager at Momentum Metropolitan, explains that volunteerism is something the corporate actively and formally champions. “While our CSI mandate is centred around youth empowerment and employment, we want to encourage employees to support those causes closest to their hearts – while at the same time uplifting their communities.”
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Nampak Gets Kick From Can Demand, But Profits Take Foreign Exchange Hit

Erik Smuts – Nampak CEO Talks about “in 2022 we faced some operational headwinds while leveraging the available tailwinds. the sa beverage can market experienced unprecedented growth; and volumes in angola during the last quarter grew by almost 30%, exceeding our expectations.”

he added, “revenue increased by 21%, lifted by higher volumes and unusually high commodity prices. despite the strong contributions from our beverage cans and liquid paper businesses to a pleasing trading profit, an increase in foreign exchange losses, higher interest rates and increased impairments contributed to a lower net profitability.” 

smuts noted that efforts to dispose of certain assets yielded no tangible results preventing nampak from reducing debt and required the extension of certain maturity dates and relaxation of covenants.  nampak will approach shareholders for approval for a rights issue. he said, “with a strengthened balance sheet, we can focus on our operations to leverage growth opportunities for the benefit of our stakeholders.” 

in the 2022 financial year, nampak delivered strong revenue growth of 21% (r16.9bn), underpinned by stronger volumes in our sa beverage can market, angola, nigeria and zimbabwe. despite challenging trading conditions green shoots of recovery were evident in some markets. trading profit improved 13% to r1.6bn as the pass-through pricing mechanisms in most of our businesses allowed for the recovery of increased input costs, but without the recovery of the incremental cost of funding the higher working capital, group trading margins declined to 9.5% from 10.2% in the prior year. 

stringent overhead management was applied in an inflationary environment. we focused on improving our trading performance and were pleased with the strong recovery in the beverage can operations, however these were diluted by a disappointing result from divfood and the impact of the depreciation of the zimbabwe dollar on the rand-reported results of our zimbabwe operations. 

cost of sales was impacted by high metals prices, due to challenging supply chains with concomitant increases in logistics and shipping costs. operating profit was assisted by a moderate 1% decrease in core employee costs, complemented by strong trading results from bevcan sa and nigeria, and a recovery in bevcan angola. our zimbabwe operations continued to perform well and remained self-funding. a once-off insurance loss of r50 million was incurred.
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Impact that losing Cyril as the president could have on Business

Cas Coovadia - Business Unity South Africa (Busa) talks about Should South African President Cyril Ramaphosa resign, economic policy won’t change, the country’s Finance Minister Enoch Godongwana said, while stressing that he expects him to stay in his post.

Ramaphosa is seen as the driving force behind South Africa’s bid to liberalize its power sector and throw its economy open to private investment, but Godongwana emphasized that policy is determined by the governing African National Congress and isn’t tied to any individual.

“Any president is not going to pursue individualistic policies outside the framework of the party,” Godongwana said in an interview with Bloomberg Television on Friday. Economic measures that will be announced in the February budget will follow from last month’s budget update, he said.

South African markets were roiled this week after an advisory panel established by parliament found grounds for lawmakers to consider impeaching Ramaphosa over his alleged failure to properly report a robbery at his game farm — during which he says $580,000 hidden in a sofa was stolen — and potential violations of the constitution.

The day after the findings were released, the nation’s currency posted its worst one-day loss since May, while the government’s borrowing costs surged the most since 2015. The price of South African five-year credit default swaps climbed by the most since March 2020, indicating investor nervousness about political instability.

Still, those securities have now clawed back some ground. The rand rallied as much as 1.8% after Godongwana’s interview, and government bonds jumped.

In 2008, Thabo Mbeki, the president under whom South Africa saw its best post-apartheid economic growth, stepped down under pressure from the ANC after losing an intra-party electoral vote. And in 2018, Jacob Zuma was forced to quit after a series of corruption scandals eroded his party’s electoral support.
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5 Year Annivesary Of Steinhoff

Khaya Sithole – Independent Analyst talks about The various topics covered in the case study – Steinhoff’s business vision and fast-expanding operation over the years, and the company’s approach to governance and leadership – provide some important business lessons for small entrepreneurial concerns and large corporates alike.

Lesson #1: Be true to your strategic vision and ‘stick to the knitting’

Strategy theory suggests (ref: 1) that strategy development over time is more about making wise choices initially and deepening one’s competitive position than going too broad and trying to be all things to everyone.

Although the diversity of the Steinhoff businesses might give some people the impression that the company lacks a core identity and has chased acquisitions in a somewhat random fashion, the company’s long-term vision has always been to control its various value chains, thereby moderating costs, keeping competitors at bay and striving for ever-higher levels of efficiency and market share.

This is an important element in its fundamental strategy of sourcing and manufacturing goods in low-cost countries and selling them to value-conscious buyers in more lucrative markets.

Former Steinhoff chairman Christo Wiese and the company’s executives appear at a parliamentary hearing into the Steinhoff scandal on January 31, 2018 in Cape Town, South Africa. Replying to questions, Wiese said, detecting fraud within a company was hugely difficult for board members‚ especially if the CEO was allegedly involved. (Netwerk24 / Adrian de Kock)

Although Steinhoff’s operation is today very geographically dispersed and it has progressed from being primarily a furniture supplier to a more holistic supplier of ‘lifestyle’ products, the company has not deviated too far from its fundamental business strategy and target market. In making the strategic choice to expand its product and service offerings but operate as a vertically integrated business, Steinhoff acknowledges that benefits can be derived from moving almost seamlessly into ‘adjacent market space’ using its pre-eminent position in related value chains.

Whereas a horizontal integration approach would require a business to operate alongside myriad other businesses in a ‘value chain neighbourhood’, with a vertical integration approach Steinhoff effectively ‘owns the neighbourhood’.

Lesson #2: Growth does not equate to profit or success

Organisations that deliver consistently strong performance over extended periods of time invariably practise a controlled growth strategy in which future expansion and investments are carefully planned and executed. (ref: 2) The hallmark of truly great companies is that they have the discipline to hold back and moderate their growth plans so as not to experience resource constraints and fatigue, or end up in financial difficulties during lean times when the cash they accumulated during bumper years is all but exhausted.

Steinhoff’s extremely rapid acquisition drive, particularly in more recent years, was clearly unsustainable. The nature of its investments (large, new regions and new product lines) signalled a high-risk approach which should have raised more questions from shareholders and the board about the company’s ability to sustain all the new acquisitions and ensure their profitability.

Although strong growth always seems impressive, it does not equal cash flow or profits. Such was the case with Steinhoff whose frenetic investment activity concealed highly complex business structures, high levels of debt and less-than-stellar performance within the Steinhoff group. The management team, and Markus Jooste in particular, painted a picture of a fast-growing and practically invincible corporate giant which was too good to be true, and this should have set off alarm bells among different stakeholder groups.

Lesson #3: Strong governance is not just about financial and regulatory compliance; it is a mindset

Most organisations extol
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WORLD AIDS-Why serious conduct can still be sparked by thought-provoking content

Yvonne Diogo – Country Director MTV Staying Alive Foundation talks about Can television shows change how people think and act? In Nigeria,researchers evaluated the impact of MTV Shuga, a drama featuring educational storylines about HIV/AIDS on viewers’ sexual knowledge, attitudes, and behaviors. The study shows that exposure to MTV Shuga improved viewers’ knowledge and attitudes, increased HIV testing, reduced risky sex, and among women, led to fewer sexually transmitted infections.

Why is this a big deal?

MTV Shuga has been broadcast in 72 countries globally and is watched by huge audiences across MTV, Netflix and YouTube. Imagine how famous you’ll be!

MTV Shuga has a track record of creating stars. Thuso Mbedu, Malibongwe Mdwaba, and Samkelisiwe Makhoba all got their big break on MTV Shuga and look at them now! 

MTV Shuga is a multi-award winning series which has positively impacted the lives of many youth across the world, by teaching them how to make better health choices and you could be part of this meaningful movement. 

Monde Twala, MTV Staying Alive Foundation Board Member and MTv Shuga Down South audition judge  said, “MTV Shuga Down South is the perfect platform to launch your career if you are passionate about acting.  The series has added a great deal of value to former cast members and has seen our alumni gain acting and production experience which has furthered their careers in the performing arts. I am encouraging hopefuls to take that chance and send through their entries”. 

Where are previous audition winners now?
Since acting on MTV Shuga Down South, Season 1 cast member, Samke Ndlovu has joined some of the biggest productions in the South African film and TV industry. She secured lead roles on SABC’s ‘Rented Family’, and Showmax’s medical drama 'Wounds’. She  has starred in films too, including Mzansi Magic’s ‘Isibonakaliso’, Netflix’s ‘Collision’ and eVod’s ‘Surviving Gaza’.  More recently, she was announced as a two-time nominee at the 2022 Africa Movie Academy Awards for her role as Thandeka, in the hit film ‘Surviving Gaza’.
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INSIDE YOUR POCKET: Why You Should Know Your Debt-to-income Ratio.

Maya Fisher-French - Personal financial journalist talks about If your debts are more than your monthly income, you will only be digging yourself into a deeper hole when spending your money over the festive season, according to Carla Oberholzer, DebtSafe spokesperson and debt advisor.
Oberholzer said that she would encourage people to calculate their debt-to-income ratio before they spend money they have not budgeted for or do not have.
“When it comes to keeping those money situations under control, proper debt management is now more crucial than ever,” Oberholzer said.

Debt-to-income ratio
The debt-to-income ratio, also known as DTI, is an important aspect of managing debt.
The DTI compares a person’s monthly income amount (gross – before deductions) to how much they owe (the total amount of their monthly debt obligations such as rent or loans).
How to calculate the debt-to-income ratio:

– (+) Add up monthly debts.

Story continues below Advertisement

– (÷) Divide the total debt amount by income before any deductions (gross salary amount) and then (x) multiply it by 100.
– (=) The final percentage (%) determines the debt-to-income ratio.

The different debt-to-income ratio categories

According to Oberholzer, a low debt-to-income ratio establishes a favourable balance between debt and income while a high percentage indicates a riskier situation.

0-20% debt-to-income ratio

Your debt, compared to your income is considered good, therefore you can continue to maintain your current financial situation.

Should you choose to shop this festive season, keep the following in mind:

– Do your research

– Ensure that what you are buying is the best deal.

– Make sure there is room in your budget.

– Is the item a need or a want?
0-40% debt-to-income ratio

Your debt amount compared to your income demonstrates a moderate financial position, therefore you should consider making small budget/lifestyle adjustments to decrease your overall debt amount.
41-60% debt-to-income ratio
This category shows that you are moving into risky territory so you should consider making significant changes to lower your overall monthly debt amount.
“Partaking in any upcoming sale events or unplanned-for shopping sprees is not recommended,” Oberholzer said.
60%+ debt-to-income ratio
Falling into the 60+ percentage category is cause for concern and signals over-indebtedness. You should seek out a professional that can help you return to a better financial position.

Oberholzer said, “Taking part in any Black Friday, Cyber Monday, Tech Tuesday, or Black November ‘sale-of-the-year’ buys is a definite no-no
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PIVOT POINT: National Empowerment Fund

Zama Khanyile who is the Divisional Executive for Venture Capital and Corporate Finance at the National Empowerment Fund (NEF) talks about Just a little background that you may be aware of, the NEF was funded by Government in 2004 to the tune of R2.4 billion and since its operational inception in 2005, the NEF has approved a total of R12.77 billion across the country with a total project value of R21.44 billion. Over the past 12 years, 40% of the funding has been for the benefit of women-owned and managed businesses. 

That is why all over the country, majority of beneficiaries from our entrepreneurship training, our incubation support as well as investor education interventions are women and many of them come from rural and peri-urban localities. 

As we discussed, there has been and rightfully so, a distinct call for the industrialisation of South Africa’s economy.  It is the conviction of a growing mass in our country that this quest will only find true fruition if women stand at the centre and forefront of this urgent and historic pursuit.  

These potential female industrialists are those who would see prospects for growing the export market in a variety of sectors, including renewable energy, tourism, minerals beneficiation, agro-processing and business process outsourcing, which incorporates call centres, data storage centres, termination centres and more.  

These potential women industrialists would see opportunities in textiles, mining; automobiles; renewable energy and biofuels, whether this is nuclear, solar, biomass, hydro, co-generation or wind. As visionaries for large-scale enterprises, these black industrialists would have an eye on plastics; pharmaceuticals and chemicals; forestry, pulp and paper.  They will see opportunities in infrastructure, which of course includes telecommunications, healthcare, roads, rail, airports, dams and water. These industrialists would want to become players in manufacturing and tourism, which encompasses hotels, resorts, tourism attractions and leisure.  

And as we discussed it is when women rise to take their places in the economy that they will find DFIs such as the NEF to provide financial and non-financial support hence our desire to engage with Kaya fm listeners.
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Rand Tanks As Ramaphosa Faces Impeachment

Andre Cilliers - Director And Currency Risk Strategist At Treasuryone talks about The South African Rand Buckled On Thursday (1 December) following findings from parliament’s section 89 panel that there is prima facie evidence that president Cyril Ramaphosa violated sections of the country’s Constitution.

The rand tanked 3% from R16.90 on Wednesday to R17.43 on Thursday as markets digested the findings and the implications for South Africa.

The independent panel appointed by parliament to investigate the President’s Phala Phala saga has recommended a full investigation as it believes Ramaphosa may have broken anti-corruption laws and violated the constitution.

Ramaphosa is now facing possible removal from his job just weeks before the ANC’s elective conference.

“The political crisis has weighed heavily on the rand, which fell to nearly after the news broke last night,” said TrasuryOne.

The rand closed at R17.17 on Wednesday after trading at R16.90 earlier in the day. Meanwhile, the local unit is sharply weaker against the euro and the pound.
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Sasol’s half-year headline profit to rise by 20+%

Makwe Mailela - Chief investment officer and founder at Makwe Fund Managers talks about Chemicals and energy group Sasol said on Thursday its first-half headline profit would rise by more than 20% year on year, boosted higher international oil prices and weaker rand.

But its SA operations were blighted by operational challenges in October and November ranging from coal quality to flooding that affected coal processing plants, loading-shedding as well unplanned safety stoppages.

The factors collectively affected production and sales volume performance during the second quarter of the financial year, as well the outlook for remainder of the financial year.

The impact of lower production from Secunda has a direct impact on the downstream chemicals value chains in SA.

Sasol’s force majeure on the local supply and export of certain chemicals products was largely lifted at the beginning of November with the end of the Transnet strike action in October.
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#16DaysOfActivism: Understanding financial abuse and how to get out of it

Janine Horn, financial adviser at Momentum talks about Gender-based violence is an unfortunate reality for too many women in South Africa. We often think that it only includes physical, mental, and emotional abuse. That is simply not the case. Financial abuse is incredibly prevalent in South Africa and exists in a majority of abusive relationships. In fact, financial abuse accounts for 99% of domestic abuse.  

Financial abuse usually occurs in subtle way but can have extremely harmful effects. It is not just prevalent in marriages or life partnerships. It can take place between family members and in the workplace and corporate worlds. It is important to note that there are different forms of financial abuse, and it is even sometimes unknown to those being abused. While getting out of any abusive situation can be challenging, it is not impossible.
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EKASINOMICS: Maneli Pets, a local pet food operation with a global footprint.

Nhlanhla Dlamini – Founder of Maneli Pets talks about Maneli Pets, founded by Nhalnhla Dlamini, is a South African business that makes pet food and treats and now supplies to 270 Checkers stores nationwide.

But it wasn't always that way. Just two years ago, things looked very dire indeed for the business.

Officially launched in 2018, Maneli started as a passion project while Dlamini was still a full-time management consultant.

The initial idea was to sell protein to the human market in the USA and Europe, but it wasn't easy since farmers and butchers from those countries do not want meat from other parts of the world, according to Dlamini.

“I didn’t set out wanting to build a pet business from day one. I was agnostic about what sort of manufacturing business it was, but it needed to tick a few boxes.

“It needed to be scalable, create as many jobs as possible, have an export leg because South Africa is small, and I wanted it to have a positive social impact,” Dlamini told Business Insider South Africa.

After exploring various business opportunities, the entrepreneur landed on pet food after a few of his friends in the USA mentioned that they were interested in South African proteins such as ostrich, venison, crocodile, and warthog.

Dlamini stared working with a butchery in Germiston, where they came up with different products and sent them out to pet owners.

Once people were excited about his products, he figured out how to make his business scalable. This was followed by establishing a team and getting his product overseas in 2018 since demand was already there.  

“If you are offering ostrich, venison, warthog, and crocodile to an American pet food distributor, that is extremely exotic for them.

“There was a lot more interest from the US, the UK, and Germany for these products. I approached the bank to build a factory,” he said.
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LEGALLY SPEAKING: Protect Yourself When Freelancing - Legal Issues to Consider

Osborne Molatudi – Employment Law Specialist and MD of Molatudi Attorneys talks about While federal and state labor laws guarantee some protections and rights to a more traditional workforce (like protection from labor abuse, workplace harassment, and discrimination), freelancers are generally not covered by most of these regulations.

And while you may have known that, have you considered the other legal issues you might face as a freelancer? Have you thought about taxes, insurance, or how to protect your freelance business? Becoming a freelancer can be a rewarding career option, but there are several legal issues you should know about and plan for as you embark on—or continue—your freelance career. Here’s what you need to know about protecting yourself as a freelancer.

Start With Your Previous Employer

Before you take on your first freelance client, check any prior agreements you have with your current (or former) employer. You may have signed certain legal documents that could limit what you can and can’t do as a freelancer and who you can and can’t work with.

A non-compete agreement means that you won’t “compete” with your employer for a specific time after you end your employment. This could mean you can’t work in the same geographical market as your employer, but it could also mean that you can’t work in the same industry as your employer.

If there’s a non-solicitation agreement in place, you can’t solicit your employer’s clients or customers for your new business. It could also mean that you can’t hire former coworkers either.

A non-disclosure agreement means you can’t disclose certain aspects of your employment. While this may not seem like a big deal, it could limit how you do business (you can’t use the same business model they do, for example).

As you plan your freelance future, make sure you understand how these agreements could impact it. If you aren’t sure what rights your employer may have, speak to a qualified attorney for guidance.
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