Kaya Biz

What to expect from the mid-term Budget this week.

Finance minister Enoch Godongwana will present the Medium Term Budget Policy Statement (MTBPS) on Wednesday (26 October). Several bodies expect it to address critical factors surrounding fiscal and economic sustainability in South Africa. The extreme global and domestic macroeconomic volatility in recent years has resulted in significant adjustments to the…

25 Oct 2022 3AM 17 min

South African retailer fails to sell Game stores, opts to close.

In 2011, U.S. retail giant Walmart (NYSE:WMT) Inc made a bet on Africa, buying a majority stake in South African retailer Massmart in what many investors saw as a step toward dominating the continent's vast untapped market. It didn't go according to plan. More than a decade later, Massmart's balance…

25 Oct 2022 3AM 10 min

Rand takes big hit as investors worry about Godongwana speech.

On Tuesday morning, the rand approached R18.50/$ - trading at levels last seen in early 2020 as the country digested the implications of the first hard Covid-19 lockdown. The currency is under pressure ahead of Wednesday's medium-term budget speech announcement, and has also taken a knock as riskier assets digested…

25 Oct 2022 3AM 11 min

Why South Africa is desperate for cyber-security skills?

The technology sector has long been battling the skills gap, both in South Africa and abroad. Skills are rare, in high demand, and difficult to retain. According to a report by ESG entitled ‘The Life and Times of Cybersecurity Professionals 2020 around 70% of respondents said that their organisations were…

24 Oct 2022 8AM 9 min

Compensation Fund: Vocational Rehabilitation Programme.

Vocational Rehabilitation Programme aims to improve the standard of living of previously employed persons who suffered occupational injuries or diseases and subsequently lost their jobs by taking part in training and development initiatives to enable them to be reintegrated into the workplace or become self-sustainable. In addition, there are additional…

24 Oct 2022 8AM 16 min

CAREERS: How marginalised professionals can cope with performative allyship.

However, for some, this has provided a masquerading opportunity, leading to a growing concern around ‘performative allyship.’ Performative allyship refers to someone from a non-marginalised group professing support and solidarity with a marginalised group, but in a way that is not helpful. Peter Kalina from the Mayo Clinic made it…

24 Oct 2022 8AM 16 min

WEALTH CREATION: Equity crowdfunding a game changer for investors and African.

Equity crowdfunding a game changer for investors and African business. Many in South Africa are familiar with the concept of crowdfunding to kickstart a concept or raise money for a needy cause. While crowdfunding is a billion-dollar global industry, equity crowdfunding is in its infancy in Africa and an exciting…

24 Oct 2022 8AM 15 min

SA faces risk of fuel shedding, warns liquified fuels body.

Peter Morgan, CEO of the LWFA, said in an interview with Business Report last week that it was time that the country addressed this matter once and for all. “Sixteen years later we still don’t have agreement between the regulator and the oil majors on how much strategic stock we…

24 Oct 2022 8AM 9 min

Rishi Sunak set to be UK’s next prime minister.

Rishi Sunak, Britain’s third prime minister in seven weeks, will face the huge challenge of projecting stability after a period of historic political and financial market chaos. But his other task — shepherding the country through a recession — is poised to be just as daunting. The pound rose against…

24 Oct 2022 8AM 12 min

Rising opportunities within Footgolf.

If you haven’t heard of FootGolf before, it is a precision sport where players kick a soccer ball into a cup in as few shots as possible. Players use a shortened golf course with large holes and keep score like you would in golf. Not only is this an interesting…

20 Oct 2022 1AM 11 min

PIVOT POINT: Thulani Sibeko - Standard Bank Chief Brand & Marketing Officer.

Thulani is a Business leader and Marketing & Communication executive. Demonstrated results in the consumer goods, telecommunications and financial services industries. Studied or worked in South Africa, Zimbabwe, USA, U.K. and Switzerland - with regional leadership experience in Africa, Middle East, Eastern Europe and India. Skilled in Leadership and People…

20 Oct 2022 1AM 25 min

INSIDE YOUR POCKET: The connection between mind and money.

The connection between mind and money: Understanding how debt can hurt your mental health. In a world where we face mounting financial pressure, it becomes increasingly difficult to stick to the confines of our budget and keep our spending in order. Rising interest and inflation combined with skyrocketing fuel costs…

20 Oct 2022 12AM 10 min

Clicks surges as it ups full-year profit by a third.

Retail-led healthcare group Clicks on Thursday reported a 33.5% rise in profits for the year ended August 2022, with group diluted headline earnings per share (Heps) increasing to 1 032.7 cents, up from 773.6 cents in the previous period – bumped up by a strong recovery in the beauty category,…

20 Oct 2022 12AM 10 min

Liz Truss Resigns, will be UK’s shortest-ruling prime minister.

British Prime Minister Liz Truss has announced she will stand down as leader of the Conservative party, just six weeks after she was appointed, after her policies triggered economic turmoil and sharply divided the party. Speaking outside her Downing Steet office on Thursday, Truss said she could not deliver the…

20 Oct 2022 12AM 9 min

Nungu Diamonds - an all-black, proudly South African jeweler.

What started as a wholesale retailer by married couple Kealeboga and Ursula Pule in 2013 has evolved into a private jewellery retailer which prides itself on providing bespoke diamond experiences. The brand which offers exclusive jewellery designs, has created masterpieces for high profile clientele and celebrities such as, Somizi Mhlongo…

19 Oct 2022 10PM 11 min

Reserve Bank seizes former Steinhoff CEO Markus Jooste’s assets – what they took

The South African Reserve Bank (SARB) has seized assets belonging to former Steinhoff CEO Markus Jooste. This comes five years after severe financial misconduct at global holding company Steinhoff International became one of South Africa’s largest corporate scandals. The financial maladministration and fraud ultimately led to a 95% crash in…

19 Oct 2022 7AM 9 min

CPI eases slightly, in line with market expectations.

Annual consumer price inflation slowed marginally to 7.5% in September from 7.6% in August, edging down further from the 13-year high of 7.8% recorded in July. The easing of inflation was mainly driven by fuel prices declining for a second consecutive month, contributing to the softer headline rate. However, food…

19 Oct 2022 7AM 10 min

INSIDE YOUR BUSINESS: Overcoming Barriers to Energy Access in Southern Africa.

There are multiple dimensions to the problem of energy access in Sub-Saharan Africa, where large shares of population lack a reliable supply of electricity and affordable modern cooking fuels: from insufficient power generation capacity, to difficulties in managing energy infrastructure and attract investments in the sector, to challenges in serving…

19 Oct 2022 7AM 16 min

LEGALLY SPEAKING: Workers, families bear the brunt as more employers fail to pay

LEGALLY SPEAKING: Workers, families bear the brunt as more employers fail to pay retirement contributions.. The lifting of Covid-19 restrictions resulted in a busier year for the Pension Funds Adjudicator. Complaints came thick and fast, jumping by 26% in the year ended in March 2022, compared to when South Africa…

19 Oct 2022 7AM 16 min

EKASINOMICS: This start-up digitises SA’s notorious minibus taxi industry.

A South African mobility tech start-up with a mission to digitise the country’s notorious minibus taxi industry has raised an undisclosed amount in pre-seed funding from leading angel investors. This, says Loop founder Imtiyaaz Riley, enables the business to roll out geolocation technology and digital payments. Founded in 2021 by…

19 Oct 2022 7AM 16 min