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Data from information and insights company TransUnion shows that South Africa’s car market is in flux. A growing number of households are opting for one multipurpose car instead of maintaining multiple cars, with many substituting their transport demands with ride-hailing services or using subscription services As a consequence, sales of both new and used cars …
The Totalsports Women’s Race in Durban is set to feature its most competitive lineup yet on Sunday, 04 August 2024. Local favorite Tayla Kavanagh will go head-to-head with formidable opponents such as Ethiopia’s Debash Desta and Selam Gebre, along with Kenya’s Marion Chepkoech. “The fact that the Totalsports Women’s Race is a women’s-only event is …
A report by Dana Rebecca Designs Studies, based on surveys of brides since 2010, reveals a startling statistic: 76% have regrets about their wedding day, often due to inadequate planning. This insight presents a striking contrast to the weddings of yesteryear and the more cookie-cutter affairs of our grandparents and even our parents’ generations. Extended …
Here’s how World Cup rugby star and farmer Kwagga Smith prepares for fire season The Council for Scientific and Industrial Research (CSIR) reports that the increasing urbanisation of South Africa’s rapidly growing population is a significant factor impacting the risk of wildfires. They explain: “More and more people, assets and infrastructure are placed on the …
President assents laws advancing ease of doing business
President Cyril Ramaphosa has signed into law amendments to the Companies Act of 2008 that promotes the ease of doing business and imposes greater corporate transparency on the earnings gap between the highest and lowest paid persons in a company.
The Companies Amendment Bill and Companies Second Amendment Bill referred to the President for assent jointly constitute initiatives by government to make the conduct of business less burdensome, to tighten the pursuit of delinquent directors or prescribed officers for wrongdoing, including state capture and addresses disparities in earnings.
The Companies Amendment Act as signed by the President streamlines company law to be clear, user-friendly and less burdensome on the conduct of business. This reform is important for the efficient and effective conduct of the domestic economy as well as the attraction of foreign investment.
The Act is also aimed at achieving equity between directors and senior management on the one hand and shareholders and workers on the other hand.
“In addition, the law addresses public concerns regarding high levels of inequalities in society by introducing better disclosure of senior executive remuneration and the reasonableness of the remuneration.The law requires the preparation of a remuneration report by all public and State-owned companies in respect of the previous financial year,” said the Presidency in a statement.
This remuneration report must be accompanied by the company’s remuneration policy and an implementation report that must set out detail on the total remuneration received by each director and prescribed officer as well as the total remuneration for the employee with the highest and lowest total remuneration.
Among other indicators, companies must report the average and median total remuneration of all employees, and disclose the remuneration gap between the total remuneration of the top 5% highest paid employees and the total remuneration of the bottom 5% lowest paid employees of the company.
Public and State-owned companies are now required to prepare and present a remuneration policy for shareholder approval.
Other provisions include the empowerment of a court to validate the creation, allotment or issue of shares, which would otherwise be invalid, upon application before the court by a company or any person who holds an interest in the company.
The law also requires paid shares to be transferred to a stakeholder and held in terms of stakeholder agreement, until fully paid.
These measures are directed at preventing unethical, reckless and criminal conduct in businesses that will impact negatively on shareholders, workers, clients and customers and the economy as a whole.
Companies Second Amendment Act
The Companies Second Amendment Act signed by President Ramaphosa contains a response by Government to one of the recommendations of the Judicial Commission of Inquiry into Allegations of State Capture, Corruption and Fraud in the Public Sector, including Organs of State (State Capture Commission).
This law amends the Companies Act to extend the period during which proceedings may be launched to recover any loss, damages or costs for which a person may be held liable under the law.
The State Capture Commission recommended that Section 162 of the Companies Act be amended so as to ensure that an application for a declaration of delinquency may be brought even after two years on good cause shown.
While the recommendations applied to specific cases, the new law extends the time bar for declaring a director of a company a delinquent director, from 24 months to 60 months. It also gives the court the power to extend the period on good cause shown.
This provision ensures that directors and prescribed officers in companies can be held accountable for a significant period after they have committed alleged offences. – SAnews.gov.za
Edwin
Sun, 07/28/2024 - 10:29
President Cyril Ramaphosa has signed into law amendments to the Companies Act of 2008 that promote the ease of doing business and impose greater corporate transparency on the earnings gap between the highest and lowest paid persons in a company.
The Companies Amendment Bill and Companies Second Amendment Bill referred to the President for assent jointly constitute initiatives by government to make the conduct of business less burdensome, to tighten the pursuit of delinquent directors or prescribed officers for wrongdoing, including state capture and address disparities in earnings.
The Companies Amendment Act as signed by the President streamlines company law to be clear, user-friendly and less burdensome on the conduct of business. This reform is important for the efficient and effective conduct of the domestic economy as well as the attraction of foreign investment.
The Act is also aimed at achieving equity between directors and senior management on the one hand, and shareholders and workers on the other hand.
In addition, the law addresses public concerns regarding high levels of inequalities in society by introducing better disclosure of senior executive remuneration and the reasonableness of the remuneration.
The law requires the preparation of a remuneration report by all public and State-owned companies in respect of the previous financial year.
This remuneration report must be accompanied by the company's remuneration policy and an implementation report that must set out detail on the total remuneration received by each director and prescribed officer as well as the total remuneration for the employee with the highest and lowest total remuneration.
Among other indicators, companies must report the average and median total remuneration of all employees, and disclose the remuneration gap between the total remuneration of the top 5% highest paid employees, and the total remuneration of the bottom 5% lowest paid employees of the company.
Public and State-owned companies are now required to prepare and present a remuneration policy for shareholder approval.
Other provisions include the empowerment of a court to validate the creation, allotment or issue of shares, which would otherwise be invalid, upon application before the court by a company or any person who holds an interest in the company.
The law also requires paid shares to be transferred to a stakeholder and held in terms of stakeholder agreement, until fully paid.
These measures are directed at preventing unethical, reckless and criminal conduct in businesses that will impact negatively on shareholders, workers, clients and customers and the economy as a whole.
The Companies Second Amendment Act signed by President Ramaphosa contains a response by Government to one of the recommendations of the Judicial Commission of Inquiry into Allegations of State Capture, Corruption and Fraud in the Public Sector, including Organs of State (State Capture Commission).
This law amends the Companies Act to extend the period during which proceedings may be launched to recover any loss, damages or costs for which a person may be held liable under the law.
The State Capture Commission recommended that Section 162 of the Companies Act be amended so as to ensure that an application for a declaration of delinquency may be brought even after two years on good cause shown.
While the recommendations applied to specific cases, the new law extends the time bar for declaring a director of a company a delinquent director, from 24 months to 60 months. It also gives the court the power to extend the period on good cause shown.
This provision ensures that directors and prescribed officers in companies can be held accountable for a significant period after they have committed alleged offences.
Distributed by APO Group on behalf of The Presidency of the Republic of South Africa.
Informal settlement flooded with filthy water
In today's fast-changing and unpredictable world, maintaining a resilient supply chain for Maintenance, Repair, and Operations (MRO) is crucial for businesses across various sectors. The goal is not just to withstand disruptions but to adapt and thrive amidst them. Here RS South Africa (https://apo-opa.co/4c1KTyg) MD Brian Andrew shares his top 5 tips on how to approach and manage MRO supply chains to ensure resilience against future shocks.
1. Focus on Trusted Suppliers
Instead of diversifying your MRO supplier base extensively, rely on a core group of trusted suppliers that can guarantee delivery certainty. Building strong relationships with these suppliers ensures stability and reliability in your supply chain.
2. Develop a Flexible Supply Chain
When faced with pressure, it's essential to act quickly while considering the long-term consequences. A flexible supply chain and suppliers that can adapt to changing circumstances is key. This flexibility includes being prepared for potential increases in spending or the need to switch suppliers without significant disruptions.
3. Leverage Technology and Data
Utilise eProcurement and Vendor Managed Inventory (VMI) solutions from a trusted and stable procurement partner. Effective planning requires visibility into what is being consumed, especially for companies with multiple plants. High-quality data is essential for maintaining adequate inventory levels and ensuring supply chain resilience.
4. Engage in Sustainable and Ethical Procurement
Cost reduction is important, but sustainable and ethical procurement practices are equally vital. Work with partners who share common goals and include sustainability programs in your procurement processes. This approach not only benefits the environment but also aligns with the values of company management, shareholders, and customers.
5. Plan for Continuity
Continuity planning involves having a comprehensive action plan that includes compliance with policies, processes, and corporate governance. Ethical sourcing of raw materials should be a priority, and procurement departments should challenge the status quo by following ethical sourcing principles.
Supply chain resilience depends on the quality, reliability, and knowledge of suppliers. By working with the right MRO supplier, leveraging technology, and focusing on sustainable practices, businesses can better prepare for future disruptions and maintain a robust supply chain.
For more information on how RS can help you future-proof your MRO supply chain, visit the RS Africa Exports website (https://apo-opa.co/4c1KTyg).
Distributed by APO Group on behalf of RS South Africa.
PR Contact Person - RS South Africa:
Princess Tlou
Communications & Content Specialist
RS South Africa
Princess.Tlou@rsgroup.com
+27 11 691 9366
Media Contact Person – NGAGE:
Thobile Ndlovu
PR Account Executive
thobile@ngage.co.za
+27 11 867 7763
Further information is available via these links:
RS:
RS is a trading brand of RS Group plc, providing product and service solutions that help our customers design, build, maintain, repair, and operate industrial equipment and operations, safely and sustainably. We stock more than 750,000 industrial and electronic products, sourced from over 2,500 leading suppliers, and provide a wide range of product and service solutions to 1.1 million customers.
We support customers across the product lifecycle, whether via innovation and technical support at the design phase, improving time to market and productivity at the build phase, or reducing purchasing costs and optimising inventory in the maintenance, repair, and operation phase. We offer our customers tailored product and service propositions that are essential for the successful operation of their businesses and help them save time and money.
RS Group plc is listed on the London Stock Exchange with stock ticker RS1 and in the year ended 31 March 2023 reported revenue of £2,982 million.
17 July 2024, Johannesburg: As the nation grapples with ongoing stark inequalities, pervasive poverty and a dire youth unemployment rate, Afrika Tikkun, a leading youth development non-profit organisation, marks its 30-year legacy of creating holistic development, sustainable impact and tackling South Africa’s (SA’s) entrenched socio-economic disparities to foster an equitable society for all. The country’s …
Shareez Bagaria, a 46-year-old life coach and mother of two from Hillcrest in Durban, is getting ready to embark on an extraordinary adventure that will take her to Russia to conquer Mount Elbrus, the highest peak in Europe. This climb is the second stage in an ambitious quest Bagaria has set herself – to conquer …
Discovery Channel’s Shark Week is airing in South Africa on Discovery Channel Africa, DStv channel 121, and this evening, Zandile Ndhlovu, also known as The Black Mermaid, stars in Monster Hammerheads: Species X at 18:30. To amplify her message of shark conservation, she is also lead an exclusive ocean excursion today at the The Aliwal …
In a groundbreaking initiative to amplify LGBTQI+ voices, the captivating podcast ‘Straight to the Point’ features the dynamic trio of Emogan Moore (35), Maxine Wild (30), and Chenal LeCap (23). Broadcasting every Monday at 6:30 PM on the GoBinge YouTube channel, the show offers a 30 to 40-minute weekly dive into the vibrant and often …
Gauteng, South Africa – TT Waterproofing, a well-established market leader in the installation of roofing and waterproofing systems, shares valuable insights on the importance of comprehensive waterproofing for homes and businesses. With over nine years of industry experience, TT Waterproofing has become synonymous with reliable roof repairs and waterproofing solutions across Gauteng, including Pretoria. Waterproofing: …
Much has been written about how e-bikes could solve our transport crisis, reduce greenhouse gases, ease road congestion and contribute to the overall well-being of our citizens. BUT, like all renewable energy products, the initial capital outlay is beyond the reach of most ordinary citizens. As part of our market research into e-Bikes we embarked …
Robbie Gien, 36, from Fourways, Johannesburg, is set to make a profound impact with every step he takes. As a father to an amazing little boy, husband to a beautiful wife, a sales team leader at Pnet, an online recruitment platform, and an Ironman athlete since 2013 , Robbie is no stranger to pushing his …
In a vibrant display of national pride and unwavering support, the rowing community gathered at Arbour Café in Birdhaven, Johannesburg, to honour three of South Africa’s national rowing athletes —John Smith, Christopher Baxter, and Paige Badenhorst. These rowing champions are poised to represent our country on the greatest international sporting stage – Paris Olympics later …
Introduction Discover the unique blend of Africa’s mesmerising wilderness with the strict adherence to Kosher standards through this detailed exploration of Kosher safaris. Tailored to meet the needs of Jewish travellers seeking spiritual fulfilment and adventure, Kosher safaris provide an unparalleled experience. This guide offers insights into what defines a Kosher safari, highlights the premier …
Tucked between the busy cities of Pretoria in Gauteng and Rustenburg in the North West is the Magaliesberg region, a natural oasis that many people tend to overlook when seeking a holiday destination, a weekend break or day trip. “This area, with its rugged mountains, green valleys, and diverse wildlife, is a great spot for …
Winter on the KZN South Coast has to be experienced in person, and with its spectacular gardens, coastal forests, and biodiverse wetland, there’s no better place to visit than Renishaw Hills. This year, visitors got the chance to discover these indigenous gardens as Renishaw Hills played host to the prestigious Botanical Society Winter Gardens fundraiser …
In the evolving landscape of global health, digital innovation emerges as a beacon of hope, pushing the boundaries of what is possible in healthcare access, quality, and affordability. A recent white paper by the World Economic Forum, produced in collaboration with the Schwab Foundation for Social Entrepreneurship, EY, and Microsoft, sheds light on an exciting paradigm shift: the integration of Artificial Intelligence (AI) in social innovation, especially within healthcare. AI uptake has the potential to improve immunisation programmes, supply chains, referrals, diagnoses, drug safety, and overall health system efficiency.
The report finds three primary impact areas where AI is making significant contributions:
Healthcare is by far the most prevalent impact domain that social innovators are addressing with AI. Corresponding to this, 1 in 4 Social innovators are deploying AI to advance Sustainable Development Goal 3, Good Health and Well-being. This is apparent across all geographies as innovators seek to adopt AI to address multiple challenges within the area of healthcare.
Referenced in this report is BroadReach Group, a social impact organisation, that is using AI and machine learning to equip health care workers, leaders and institutions to better manage their scarce resources and drive better health outcomes for all. Vantage Health Technologies, a part of BroadReach Group is harnessing its work across continents in the following ways:
Dr. Ernest Darkoh, co-founder of BroadReach Group, says, “the fundamental issue in healthcare, whether you are in Sub-Saharan Africa, Western Europe, or the USA, is that demand outstrips supply in terms of health services, doctors, nurses, and medications. The healthcare sector is trying to deliver on an antiquated model of ‘sick care' without real-time intelligence on disease patterns, who is being affected the most, or the adequacy of healthcare resources. We need to change this paradigm to be more effective by leveraging data and digital solutions to ensure we are always spending the next hour and the next dollar in the in the most impactful way possible.”
Global Collaboration to Achieve Health Equity
The report also shows that Africa is emerging, with leaders like South Africa, Nigeria and Kenya. Egypt and Kenya have developed national AI strategies. In other countries like Cameroon, individual social innovators are using AI to address healthcare challenges, such as developing low-cost diagnostic tools for malaria. The continent is also seeing AI applications in economic empowerment and various ML capabilities.
Paul Bhuhi, Managing Director of Vantage shares, ‘'AI is becoming more accepted, with healthcare leaders seeing the promise of AI to drive real improvement in health access, quality, and affordability. Yet, the education gap between innovators and the policy makers inhibits AI adoption, In our experience Rwanda and Kenya are leading that push but more needs to be done.”
An important lesson that BroadReach Group is applying is that learning healthcare lessons in one country can have a profound global impact through collaboration. By sharing best practices, innovations, and research findings, countries can collectively address common health challenges more effectively. Collaborative efforts enable the adaptation of successful strategies to different contexts, promoting universal health improvements and accelerating progress towards global health goals like SDG 3. This exchange of knowledge fosters a more interconnected and resilient global healthcare community, where advancements in one region benefit all.
Dr. John Sargent, co-founder of BroadReach Group, says “an example of impact through collaboration is using our experience and learnings in Africa addressing health inequity and applying them to promote health equity in cancer care in the US. Our teams work across geographies and this collaboration has shown that we can more effectively and rapidly improve patient care because of this experience. Although every geography and market has its differences, many of the same core principles, critical lessons learned, and approaches apply, allowing us to rapidly adapt and implement solutions that have a real impact for populations in need while ensuring that the health system is using its resources in the most impactful way.”
Embracing the Ethical Adoption of AI
The next generation of ethical generative artificial intelligence (GenAI) provides new hope for more equitable healthcare, but advances in technology must never come at the cost of patient rights. AI systems should start with guardrails and ethics within their foundational design.
Chris LeGrand, CEO of BroadReach Group emphasises, “regulatory frameworks for ethical use of AI in healthcare are still early stage but are progressing. The new Digital Trade Protocol recently adopted by African heads of state under the Africa Continental Trade Area (AfCTA) is an example of international bodies defining the desired digital landscape with rules based on common principles, including protecting personal data while promoting trusted, safe, ethical use of emerging technologies. Regulation is slowly evolving to create trust and confidence in the protection of health data.”
Distributed by APO Group on behalf of BroadReach Group.
BroadReach Group is a group of social impact businesses focused on harnessing innovation and technology to empower human action. Since 2003 BroadReach Group has worked in over 30 countries to support governments, international NGOs, public and private sector to improve health outcomes for their populations.
Corporate Mental Health Week 1 – 5 July 2024: According to the latest Gallup report, 36% of the South African workforce experience excessive daily stress and more than 71% are either disengaged or actively disengaged at work – some of the alarming signs of burnout. This is not surprising considering that according to the Mental …
The Proteas are ready to fight for the 2024 Ignition Group Polocrosse World Cup, having narrowly missed out on their 3rd win to Australia in 2019. With KwaZulu-Natal’s Durban Shongweni Club hosting the competition from 17 to 28 July 2024, the South African polocrosse team will enjoy a home-side advantage as they take on the …
President Ramaphosa congratulates the Proteas
While the Proteas came second in the ICC Men’s T20 final, their defeat showcased the resilience and spirit of national pride, President Cyril Ramaphosa said on Sunday.
“Well done to the Proteas for an outstanding performance during the tournament to reach the final. The nation shares your pain in your fall at the last hurdle, but we thank you for hoisting our flag high on the global stage, playing against India.
“You have shown resilience and the true spirit that reflects our nation's pride. We also offer congratulations to Rohit Sharma and the Board of Control for Cricket in India on their unbeaten run on the way to a well-deserved championship,” the President said in a statement.
The President’s comments follow Saturday’s game in which India won by seven runs in Barbados.
Government has acknowledged the efforts and sportsmanship displayed by the country’s national cricket team.
While the outcome did not favour South Africa, government said the team's performance has been commendable, and they have exemplified the unifying power of sports in bringing the nation together.
READ | Government recognises commendable performance by Proteas
“Today’s results may not have been in our favour, but the performance of our cricket team in the finals has made us proud. The team showed immense skill and determination throughout the tournament. We commend them for their efforts and thank them for representing our country with honour,”Government Communication and Information System (GCIS) acting Director-General, Nomonde Mnukwa said on Saturday. -SAnews.gov.za
Neo
Sun, 06/30/2024 - 15:09
Buying your first car is a big step. It means having the freedom to be where you want when you want. But it’s also a significant financial commitment, so it’s essential to do your homework and make sure that you get the best wheels for your needs. Wynand van Vuuren, client experience partner at King …