The Outdoor Living

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7 December 2022

As temperatures rise, so too does our desire to be outside. Warmer weather, pretty flowers and even prettier sunsets coupled with the smell of backyard braais is enough to tempt even the most reclusive outside.

Barefoot, and carefree, sipping drinks with friends or enjoying garden games with the family, this is what outdoor living is all about and it is so on trend right now. Whether you have a sprawling green garden, a sizable patio to play with, or just a tiny balcony – your outdoor space is a valuable part of your home that should be maximised to its full potential.

Yet it involves much more than just dotting some cute plant pots around a few deck chairs on the veranda. Only a well thought out design can create a relaxed and inviting outside area that is just as comfortable and stylish as the interiors of your living room. A top Cape Town interior designer and behaviour strategist Kim Williams shares some clever ways to help you open your outdoor area this summer.

Start with the basics

Before even heading to the nursery or garden centre, sit down and carefully think about how you are going to use your outdoor space and who is going to use it. Are you wanting to do a lot of hosting for example and if so, how many people would you be looking to comfortably seat and entertain in your outdoor area?

If you have children or pets, then their preferences needs to be taken into consideration too and may mean sectioning off part of the outdoor space for a play area just for them. Don’t be afraid of this – zoning is central to getting the most out of your outdoor space so be open to the idea of separating areas. Things like adding a gazebo at the end of the garden for some privacy and incorporating easy pathways to access the various spaces from the indoors is very important.

If you are having a braai area, then the space around it is just as crucial as the type of braai you select. Although very much a personal choice, a good old wood braai with a wood burner on the side is a favourite in our home. We also have a separate freestanding gas braai to give us flexibility of choice but having the two only works if you have the space for them.

Really spend some time understanding what you want from your outdoor space so that it can work best for you, your family, and your lifestyle, and don’t forget to include a quiet area for relaxing and recharging, especially after all those hosting duties!

Blend in and create flow

An outdoor space works best when it feels like an extension of your home, rather than an isolated area, so try and create an easy flow between the two spaces. Consider what colour palettes and finishes you already have in the interior, which could blend well outdoors to tie the two spaces together.

Deepened healing is a huge behavioural trend which I have spoken about at length in the first edition of my report, ‘Behind the Design’. This conscious inclusive design essentially looks at the desire for humans to always want to be connected to nature and is therefore central to the outdoor living space.

At its core is the reflective need to heal, restore and move towards sustainable design. It focuses on balance between yin and yang and masculinity and femininity, to ensure that the space feels grounded and esoteric but also facilitates a natural way for people to connect in that space. Consider what elements you can add to foster the calming feel of nature.

Be weatherwise with accessories

Having enough seating and shelter from the elements is crucial in any outdoor space – as the weather is rarely reliable. The aim of an outdoor space is to keep the area feeling spacious and light so don’t put too much in. Transparent ghost or polycarb chairs in different colours are a great practical outdoor solution and can be changed out very easily from season to season. Chair Crazy have some great products from Spain and Turkey that can handle the strong South African sun well.

Colour wise, you want something that is soothing to the soul, relaxing and easy on the eye but with a pop of colour to add some excitement and interest. Consider contrasting textured fabrics in plain colours on large sofas with bolder shades and patterned prints on individual chairs and cushions. It is essential that you select proper outdoor fabrics with a good ultraviolet makeup. Hertex, Home Fabrics and Eshanima Fabrics have a huge array of options.

From a décor perspective, this is where you can properly express elements of deepened healing. Consider adding repurposed or repaired items of furniture, previously loved design pieces in soft curves and shapes, and invoking pieces of artwork.

For more tips from Kim Williams, sign-up for her blog at www.kimwilliams.co.za or follow her on Facebook and Instagram @kim_williams_design.

Airbnb’s commitment to inclusive tourism in South Africa

By

LnT Desk

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6 December 2022

Today, Airbnb announced a new partnership with the Development Bank of Southern Africa, which will see the Airbnb Entrepreneurship Academy roll out in select DLAB sites, furthering Southern Africa’s inclusive economic development goals and showcasing the power of Public-Private Partnerships. Airbnb has also signed partnerships with RLabs in the Mitchells Plain area of Cape Town, and the Waterberg District Municipality as part of the President’s District Development Model, demonstrating its commitment to inclusive tourism.
Expanding the Entrepreneurship Academy: The Airbnb Entrepreneurship Academy has trained close to 500 people predominantly women and youth, through their work with public and private sector partners, including more than 200 students at the University of Johannesburg School of Tourism and Hospitality; and 50 new graduates in the Waterberg, who were today celebrated at a graduation event attended by Deputy Minister of Tourism, Fish Mahlalela.
Improving digital inclusivity: We have installed 77 wifi hotspots in rural and township communities across South Africa and committed to providing free connectivity and data to all Waterberg Academy graduates for the next year says Velma Corcoran, Regional Lead Middle East Africa at Airbnb
Supporting our Host community: Through our Africa Academy Fund, we have provided 45 grants totalling R2.5 million to support Academy graduates from township and rural communities who have been hardest hit by the pandemic.
Working to drive more inclusive economic growth: Through our work with the Waterberg District Municipality, we have shown how innovative Public-Private Partnerships can drive more inclusive economic growth. As part of the District Development Model – a project designed to bring together partners to tackle poverty, inequality and unemployment – we worked with local partners including the Waterberg District Municipality, The UNESCO Biosphere Reserve, and the Lapalala Wilderness School, to help build the local tourism economy, and develop skills for local families to open their homes says Velma Corcoran
Continuing to promote lesser visited destinations: Through product updates and campaigns, we have shone a light on lesser-visited destinations across South Africa. Starting in December, we will launch a digital campaign with the Endangered Wildlife Trust and Waterberg Tourism, focussed on sustainable tourism.

Velma Corcoran, Regional Lead for Middle East Africa at Airbnb, said: “As the cost of living increases, it’s imperative that public and private organisations continue to work together to lower barriers to entry and unlock economic opportunities for everyday South Africans. We’re incredibly proud of our continued commitment, with our partners, to create a more inclusive tourism economy that benefits everyone, ”

Fish Mahlalela, Deputy Minister of Tourism, said: “Airbnb’s work in the Waterberg as part of the District Development Model is a best-in-class example of how innovative Public-Private Partnerships can work to drive more inclusive economic growth. The partnership with Airbnb is also assisting the Just Energy Transition, helping to train and empower locals, especially women and youth, to benefit from a sustainable tourism industry and biodiversity economy.”

As people battle a rising cost of living crisis, lowering barriers to earning much-needed income has never been more important. Half of Hosts across South Africa say they host to afford the rising cost of living, and over a third say the additional income helps them make ends meet. Last year, the typical Host on Airbnb in South Africa earned more than R25,400, money that can help cover rising costs.

To better support prospective Hosts, Airbnb this month introduced Airbnb Setup and additional AirCover to make it easier and safer for millions of people to Airbnb their home.

Learn more about the Airbnb Entrepreneurship Academy, and how we can work together to create a more inclusive and diverse tourism economy in South Africa here.

Climate finance requires shifts in markets

By

Tunicia Phillips

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6 December 2022

South Africa can only meet its commitments to reach net zero emissions with help from local and transnational financing, from both the public and private sectors

COP27 concluded with yet another acknowledgement of the importance of climate finance, but questions linger over how a developing country like South Africa can shift from its current fossil fuel-intensive economy over the next two decades. This transition is not only necessary to avoid the worst impacts of climate change, but to ensure that the country’s export market is not at risk of being left behind and crippled by its reliance on carbon-intensive products. Climate action, or lack thereof, therefore has broad macroeconomic implications.

Intellidex, a research and consulting firm that specialises in capital markets and financial services in Africa, says in its Capital Markets Report 2022 that South Africa will need between R4 trillion and R8.5 trillion over the next 30 years for financing the country’s climate mitigation commitments. This will require substantial and innovative financing mechanisms and drastic changes to capital market flow structures. The World Bank says the R8.5 trillion needs to be divided roughly into R4.2 trillion for mitigation, R2.2 trillion for adaptation and R2 trillion for the Just Economic Transition (JET).

In the short term, Eskom requires an estimated R1.2 trillion in infrastructure investment by 2030 to develop a successful transition in the power sector. This includes R990 billion for generation capacity, R130 billion for transmission capacity and R56 billion for distribution capacity.

What is climate finance, and why is it limited in the capital market?

South Africa can only meet its commitments to reach net zero emissions by mid century with the help of local and transnational financing from both the public purse and the private sector. Unlocking the level of finance required cannot hinge solely on the state’s coffers, which are limited by weak growth and a widening debt-to-GDP ratio.

It will need new and innovative approaches which, according to the Intellidex report, “will help bridge the gap between traditional philanthropic funding, development aid and public sector financing on the one end of the spectrum, to commercial investors on the other end”.

Globally, the existing capital markets structure has shown to be limiting and insensitive to the scale of support and investment required for this transition to happen at the pace required. President Cyril Ramaphosa told the 27th Conference of the Parties (COP) in Egypt that at present, multilateral banks are risk averse, and that financing is generally inaccessible for developing nations.

“The multilateral development banks need to be reformed to meet the needs of developing economies for sustainable development and climate resilience. At present, multilateral support is out of reach of the majority of the world’s population due to lending policies that are risk averse and carry onerous costs and conditionalities,” Ramaphosa said.

The Intellidex report says continued blockages in the existing capital markets include:

a lack of investable pipelines;
ambiguity around the Just Energy Transition (JET) conceptualisation;
a leadership vacuum;
lack of strategic integration of JET;
issues related to liquidity, FX risks and lacklustre demand;
insufficient financial innovation;
skills shortages;
[a lack of] sustainable investing and ESG integration practices;
the green finance taxonomy;
JSE sustainability and climate disclosures;
poor macroeconomic fundamentals; and
poor quality data.

South Africa’s transition risks are geographically concentrated and come with tremendous socioeconomic risks to those directly affected by the move away from coal. While the COP26 JET partnership offer of $8.5 billion by the International Partners Group is a landmark development in international climate financing, it is unlikely that this model of funding could finance the entire transition; major shifts in the private sector are also needed to channel appropriate finance.

“The challenge for financing the JET is not only how to deliver large-scale new renewable infrastructure and associated grid and storage capacity (as well as other components of the energy ecosystem), but also how to ensure that the losers from the transition are appropriately compensated or have a fair stake in the success of it, and indeed how those social solutions are financed,” states the Intellidex report.

South Africa has been slow to adopt newer finance instruments such as green, social and sustainability bonds. The JSE has expanded its green bond segment to include sustainability but this remains largely underdeveloped, according to the report findings. A lack of pipeline projects has also meant that banks have no need to issue higher sustainability bonds. To date, data shows the value of these bonds are nowhere near to what is needed.

But the JSE’s Transition Finance segment has an important role to play in helping facilitate a just transition by ensuring that heavy emitters and hard-to-abate sectors are not cut off from capital markets entirely, and thereby not forced to shut down abruptly. For it to work, institutional investors need to be sensitised to how this segment works.

A number of other finding mechanisms are also required from banks and insurers. “To reach the scale required, banks will need to move assets off the balance sheet to the institutional market,” the Intellidex report states.

To accelerate the just energy transition, the report concludes that South Africa must:

identify the gaps in the local ecosystem that need to be closed to crowd in commercial funders;
identify the key aspects from a technical ESG application perspective that need to be addressed, to ensure that commercial investors as well as development financiers can allocate capital to the markets most urgently in need of funding to achieve the SDGs; and
identify the key areas for philanthropic funders to provide catalytic capital to achieve measurable, scalable and replicable impact on the JET.

This may assist in addressing the pressing blockages that are currently limiting finance for the country’s road to carbon neutrality in the next 30 years.

Source : www.mg.co.za

DUT and Lenovo launches Robogirl 2022

By

LnT Desk

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5 December 2022

December 5, 2022 – Durban, Kwazulu-Natal. Today, Lenovo South Africa has embarked on an exciting partnership with the Durban University of Technology, which will prepare young female learners for the 4th Industrial Revolution (4IR) and beyond, by teaching them coding and robotics skills. Working with the university’s Department of Information and Technology, Lenovo South Africa is advancing their efforts in bridging the gap in the STEM field and launching the Robogirl 2022 programme.

The Robogirl 2022 programme will see over 120 girls from 15 schools in grades 10 and 11 from the eThekwini area – particularly from historically disadvantaged communities – being exposed to the concepts of coding and robotics. The programme will culminate in a competition between schools, which will allow the various teams to witness their peers’ innovation and different approaches to the same challenge. Lenovo is also a Bursary sponsor at DUT for IT related courses.

Lenovo’s vision of providing Smarter Technology for All is focused on empowering under-represented communities with access to technology and STEM education. With a mandate to diversify the talent pipeline in Southern Africa by increasing and cultivating interest in STEM, Lenovo believes in breaking the barriers to entry when it comes to access to technology and education overall.

Yugen Naidoo, General Manager, Lenovo Southern Africa said: “Both in South Africa and indeed around the globe, men continue to outnumber women in Science, Technology, Engineering and Mathematics (STEM) ﬁelds, particularly technical ﬁelds such as engineering and computer science. Lenovo is extremely passionate about upskilling women and female learners in the technology arena and helping to bridge this gender gap. We believe the most innovative solutions can’t be created without diverse perspectives, and therefore we are investing in such programmes.”

The launch of the programme was attended by the Kwa-Zulu Natal MEC for Education, Ms Mbalenhle Cleopatra Frazer, underscoring the importance of such an investment for the learners. The Durban University of Technology was represented by the Prof. Keo Motaung (DVC(RIE), Prof O Olugbara (Exec Dean), Dr J Wing (HOD: IT) and others.

Mr Ebrahim Asmal, Senior Lecturer in the Department of Information Technology and program coordinator said: “There is a gender disparity in the STEM workforce as well as at higher education across the globe. Decreasing the gender disparity in STEM fields will provide more opportunity for women to generate fair income, as well as encourage professional and productive environments for women. Not only this, but the engineering industry can also tangibly benefit from an increase in gender and racial diversity because a workforce made up of varying genders and minorities creates team dynamics conducive for better problem solving, produces better overall business management, and reflects today’s increasingly differentiated customer base, all of which leads to improved business performance.”

Yugen Naidoo added: “At Lenovo, with programmes like Robogirl 2022 and others, we aim to play our part in helping to address this gender disparity, and let young girls and women see for themselves the possibilities of entering the IT space as a career and be empowered to enter the jobs of the future. We look forward to seeing the short-term and indeed longer-term positive results of our investment in Robogirl 2022 and wish the Durban University of Technology and all the learners on the programme every success.”

How to make your year-end bonus work for you

By

Partner Content

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5 December 2022

While festivities run high, many find themselves utilising the added income that comes with a 13th cheque, to immediately enjoy themselves. To make the entrance into the new year smoother, the recommendation is for the year end bonus to be used smarter in ways that will reap benefits for the months to come.

Here’s how to make your year-end bonus work for you.

How to make your year-end bonus work for you

Nearly everyone looks forward to at least some of the elements of the end of each year. Usually the December season equals sunny days, more time with friends and family over the holidays and for some a 13th cheque or end of year bonus.

While festivities run high, many find themselves utilising the added income to immediately enjoy themselves. To make the entrance into the new year smoother, the recommendation is for the year end bonus to be used smarter in ways that will reap benefits for the months to come.

Start saving for a deposit on your dream home

If you are planning on applying for a bond in the next year, use your year-end bonus to start saving towards a deposit. Even if it is just 10% of your loan value, a deposit will be well worth saving towards, says Carl Coetzee, CEO of BetterBond. “It plays a crucial role in a bank’s decision on whether to approve or decline a bond. Having a deposit could also help you secure a better interest rate, as banks look more favourably at applicants who appear to be less of a risk.”

Furthermore, a deposit signals to the seller that you are a serious buyer, and you are more likely to have your offer to purchase accepted. Being able to contribute to your bond from the get-go will also help reduce your monthly bond repayments and lower the amount of interest you will end up paying over the bond repayment period, says Coetzee.

Explore your own continent

While many travellers aim their Christmas bonus towards a trip overseas, an alternative – which will still give you that “international feel” but cost far less! – is to explore our own continent, Africa. Africa has so many incredible countries to visit, with fascinating histories, cultural treasures, intriguing foods, and diverse people – it is well worth considering a trip to Mauritius, Zimbabwe, Egypt, Mozambique, or many of the other countries that the continent has to offer.

To give you an idea of the cost savings you could enjoy, data from travel search engine Cheapflights.co.za shows that an average return economy flight to London in the UK is around R13,579, while the same type of flight to Mauritius is around R10,551. A round trip to Dubai could cost you about R9,883, while the equivalent to Harare in Zimbabwe is around R4,653. And jetting off to Phuket in Thailand is around R12,140, while the same to Maputo in Mozambique is around R5,772.

Treat yourself to a self care experience

As the saying goes, ‘self-care, should always be scheduled in advance’ not when you desperately need it, like at the end of a busy year. Every end of year break or vacation, should include a massage, treatment or facial. “Look out for end of year deals or specials on popular discount websites and perhaps consider booking a set of three or a massage package. This will help to ensure that you’ve booked in something towards your self care for the year ahead.” comments Yusuf Jinoo, Head Concierge at Radisson Blu Hotel Waterfront

Put it towards bucket-list activities

Upnup’s Ricki Allardice comments that “Ultimately, holidays should be something we look forward to, rather than another anxiety point in our already stressful lives. Remember that sensible saving habits can go a long way toward ensuring that’s the case.”

“For example, for those of us looking to plan for international or big local family holidays a few years into the future, perhaps combining the approach of saving with innovation and technology could help us. Opting to stay local these holidays and continuing to save for an out-of-country trip in the future meant that you did not have to compromise on your next holiday,” says Allardice

Put it towards a GOAT

Not the animal, although for some that might be a thing. Rather, Greatest Of All Trips. Plan that bucket-list holiday that you have been wanting to do for quite some time. If you’re looking to do a big local trip, consider popular local destinations such as Sun City or the Kruger National Park.

Destinations such as these offer locals the opportunity to really get to know the best that their country has to offer. If yoú’re keen on a Kruger stay, consider a hotel such as Kruger Gate. With stunning rooms, a pool that overlooks a Kruger Park watering hole, a spa and dining options to suit the whole family, it is a destination within itself.

Plan for tax savings in the year ahead

Starting a tax-free savings account, donating and input into retirement annuities are all things that can contribute to tax deductions. Taxpayers can then claim for these tax deductions when filing their tax returns and potentially save money.

Using a year-end bonus to make these contributions means that your December salary is not impacted and you are putting something towards good causes including helping others and making an investment towards your retirement, future savings goals and your general future.

Hope Sonic has created 30 new permanent jobs

By

LnT Desk

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5 December 2022

Just in time for the holiday season, Hope Sonic, a proudly South African company, has added 30 new permanent employment by extending its Zeus toy line in Shoprite and Checkers supermarkets.

The small business provides a variety of recycled-material toys to Shoprite and Checkers, including a digger, dump truck, and several ride-on bikes.

Hope Sonic now employs around 100 people – of which 70% are women – following the expansion of its range from one to 16 toys and anticipates further growth in 2023.

The company is located in Blackheath, Cape Town, and employees live within walking distance of its factory.

“Most of our employees reside in Happy Valley, Blue Downs,” says David Damon, Managing Partner at Hope Sonic. “We believe in empowerment and teaching our employees. All training is in house on the job training.”

The Zeus Mx2 ride-on bike is made from 100% recycled plastic, which amounts to approximately 20 milk bottles per bike. The dump trucks and diggers are made from 60% and 50% recycled material, respectively.

Fujifilm TG-BT1 tripod grip coming to SA

By

LnT Desk

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5 December 2022

Fujifilm South Africa is set to launch the newly announced TG-BT1 tripod grip locally during January 2023. The TG-BT1 accessory attaches to X Series cameras and functions not only as a Bluetooth enabled grip but also as a tripod. This provides a number of innovative shooting options for Fujifilm users, both for video recording and for stills.

The TG-BT1 allows the camera angle to be adjusted 180 degrees vertically and 360 degrees horizontally. By rotating the TG-BT1 horizontally, it can be used as a selfie grip beneficial to those requiring footage of themselves. And by circling the unit vertically, it can be employed as a shooting grip for low angle shots or videos.

As an added benefit, the TG-BT1 allows for users to simply expand its tripod legs in order to provide stability when taking group shots or when setting up a fixed-point camera.

The TG-BT1 connects to compatible Fujifilm cameras^*1 via Bluetooth and provides easy access to key remote shooting functionality directly from the grip. This includes the shutter release button, video recording as well as a control lock switch. Also, when a lens equipped with power zoom is attached, a T/W button can be used for zoom operation^*2.

At 172.3mm in height (legs retracted) and weighing only 205.5g (excluding battery), the TG-BT1 grip is ideal for travellers or for those for whom portability remains key. Furthermore, the tripod grip is weather resistant, which makes for a perfect pairing with the new X-T5 (with its 63 weather sealed points) and weather resistant XF30mmF2.8 R LM WR Macro. The grip can carry a maximum combined weight of 1.5kg.

The Fujifilm TG-BT1 tripod grip is set for arrival in South Africa during January 2023, and will come with a suggested retail price of R3200 incl. VAT.

^*1 Compatible models: “FUJIFILM X-T5” (Ver.1.00 or later), “FUJIFILM X-T4” (Ver.1.70 or later), “FUJIFILM X-T3” (Ver.4.50 or later), “FUJIFILM X-S10” (Ver.2.60 or later), “FUJIFILM X-T30 II” (Ver.1.20 or later), “FUJIFILM X-T30” (Ver.1.50 or later). “FUJIFILM X-H2S” and “FUJIFILM X-H2” are planned to be compatible via firmware update in January 2023.

^*2Compatible model is “FUJINON XF18-120mmF4 LM PZ WR”. “FUJINON XC15-45mmF3.5-5.6 OIS PZ” is planned to be compatible in January 2023 via firmware update. Zoom operation cannot be controlled via T/W button for “FUJIFILM X-T30 II” “FUJIFILM X-T30”.

Minister Nxesi aims to revamp the UIF to stamp out fraud and reduce queues at labour centres across the country

By

Partner Content

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5 December 2022

Despite the widespread corruption scandals that nearly derailed efforts to mitigate the devastating impact of the Covid-19 pandemic, the South African government was generally hailed for putting in place a package of financial and social benefits relief measures for the vulnerable. These interventions were targeted at workers and employers whose companies were affected by the pandemic and the unrest in KwaZulu-Natal and some parts of Gauteng.

Disruption of economic activities

The imposition of lockdowns and other related intervention measures to curb community transmissions significantly disrupted economic activities across the country. Scores of employees were retrenched as several companies either scaled down or completely stopped their operations. To strike a balance between curbing the spread of the coronavirus and loss of life while allowing some economic activity, the government announced a comprehensive package of economic-financial relief measures to bolster the economy, businesses and workers during the different alert levels of the lockdown.

Covid-19 TERS

The Department of Employment and Labour, through the Unemployment Insurance Fund (UIF), provided wage subsidies to employees and employers affected by the lockdown. The fund budgeted R40 billion to finance the Covid-19 Temporary Employee/Employer Relief Scheme, also referred to as TERS for a period of three months. But the monthly extensions of the national state of disaster, coupled with subdued economic activities, meant the scheme had to be extended several times — till mid-July 2021.

Fraudulent activities

TERS proved to be an effective financial intervention tool in assisting distressed employees and employers during the global pandemic, but it was seriously undermined by rampant corruption and fraud. The inadequate control measures in the new system, which was hurriedly developed, compounded these challenges. The scale of corruption and fraudulent activities necessitated the involvement of several law enforcement agencies to bolster the department’s own risk management unit in detecting and stemming the waves of corruption.

The agencies included the South African Police Services’ Hawks, the Special Investigating Unit (SIU), the National Prosecuting Authority (NPA), the Financial Sector Conduct Authority (FSCA) and banking institutions. The partnership resulted in several arrests and prosecutions, and some of the money wrongly claimed was returned.

Securing proclamation orders

These parties also succeeded in preserving funds against suspected fraudulent claims. From a total of R230 836 322 targeted for preservation orders, an amount of about R133 951 840 has been successfully preserved by the Asset Forfeiture Unit through the courts and secured, pending investigations. Twelve convictions for fraud and corruption were recorded and 25 cases are being heard in court. Recently 16 suspects accused of defrauding the scheme of R2.2 million were arrested. Among the culprits were the fund’s own officials, nine of whom were investigated for charges related to misconduct regarding alleged contravention of the supply chain management process. Eight of the nine cases have been finalised, and sanctions meted out.

Follow the money project

One tool the UIF introduced was the “follow-the-money” project, to deal with employers who claimed the TERS fraudulently, or who did not pass the claimed relief benefits on to their employees on whose behalf the claims were made. The UIF has vowed to verify every cent spent through TERS; to date R18.9 billion has been verified out of the R62.4 billion TERS expenditure; R43.5 billion must still be verified, to see if the funds have reached the intended beneficiaries.

Financial stability of the fund

Of this amount, the banks will verify R26.93 billion, while the remaining R16.67 billion will be verified through a panel of audit firms. The banks have been roped in to leverage their ICT capabilities to assess, for instance, whether the employees in question have been receiving their salaries (even before TERS) in the same bank account that was used to receive the TERS.

Despite these fraudulent activities the fund remains financially stable, and has, in the last two quarters of the 2002-2023 financial year, been able to accumulate a surplus of over R3 billion. As recently as the end of September 2022, the fund’s technical reserves amounted to R46.6 billion, with an accumulated surplus of R55.5 billion, amounting to a total net asset of R102.1 billion.

Partnership to create jobs

The UIF has teamed up with the Industrial Development Corporation to set up a fund with a view to creating sustainable jobs and retaining them by supporting job-creating transactions, while providing concessionary funding. According to the Public Investment Corporation’s socially responsible investment report, the fund’s investments have created and sustained about 30 878 jobs; of these 15 411 are permanent and 8 918 are temporary. The fund size is R5 billion.

Labour Activation Programme

The other initiative that the fund has launched to assist troubled companies that seek to retain their employees is the Labour Activation Programme (LAP), through which the UIF has extended the normal TERS to six companies with 634 employees, at an expenditure of R27.2 million in 2021-2022. Under the scheme, the UIF funds 75% of an employee’s basic salary up to a maximum amount of R17 119.44 per month, for a maximum period of a year. The key feature of the LAP is the employability enhancement programme, the objective of which is to boost prospects for employment for the jobless, enable entrepreneurship and preserve jobs by integrating unemployed people back into the labour market. For the 2022-2023 financial year, the budget for the LAP is R3.1 billion. To date the programme has enrolled 31 633 learners into various skills development programmes. A budget of R1.7 billion was set aside to initially recruit about 55 000 people.

Payment delays and inefficiencies

The department and the UIF are aware of the difficulties and challenges that clients have had to endure at various labour centres when accessing their benefits. Queuing for long hours due to the IT-related technical glitches has been a major challenge. Minister of Employment and Labour Thulas Nxesi acknowledged these difficulties and said plans are afoot to address them. These include improving efficiency by completely overhauling the entire architecture of the existing payment system.

An exhaustive skills audit will be carried out so that only those people with the relevant technical expertise, such as actuaries and financial and forensic experts, will be employed. Nxesi said these are the calibre of people required to assist the department in disbursing billions of rands, as well as detecting early on any fraudulent or corrupt activities.

The department has deployed various ICT solutions to reduce queues at its centres. It will, among others:

From this month to early 2023 deploy a solution to address a gap in the claim processing system, to enable managers to see which claims have not been attended to yet. The expectation is that this will result in a real-time view of the process flow. It also includes messaging to claimants, telling them how far their claim is and when they will be paid, so they do not need to physically visit centres to reactivate claims.

The persistent problem of downtimes will be overcome by replacing the current SITA IT system. Each staff member will have a laptop and a universal sim card to operate on the Vodacom, MTN and Cell C platforms. These are better, faster and “generally immune to downtime, [and are] reliable and dependable”, according to the minister.

From this month clients shall be able to monitor progress of their claims on their cellphones, irrespective of the calibre of the phone. They will be enabled to access UIF services free of charge, using the zero-rated USSD and Mobile APP. It is hoped this will reduce travel to labour centres and help keep queues to a minimum.

The fund has also developed a zero-rated online portal for TERS (follow the money) which will be deployed live. This will enable employees who received TERS benefits to declare and verify the benefits they received. The information will be used in the audit process of the follow the money project. A new structure has also been approved to increase the capacity of labour centres to deliver quality service.

Call centre services

The UIF has partnered with an outsourced service provider, Alteram Solutions, to render call centre services. This will help the UIF to resolve some of the shortcomings exposed during Covid-19 pandemic, such as inadequate human resources and space constraints. The fund has increased the number of its agents from 40 to 250, thus enabling it to efficiently handle the amount of calls received, and their technology has been upgraded. —

Anglo American combines nuGen™ with First Mode

By

LnT Desk

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5 December 2022

Anglo American has signed a binding agreement with First Mode Holding Inc (“First Mode”) to combine Anglo American’s nuGen™ Zero Emissions Haulage Solution (“ZEHS”) with First Mode, the specialist engineering technology company that partnered with Anglo American to develop the nuGen™ ZEHS (the “Transaction”).

The Transaction, first indicated in June 2022, is intended to accelerate the development and commercialisation of Anglo American’s nuGen™ ZEHS. Anglo American acquired a 10% strategic equity interest in First Mode in 2021. The Transaction includes Anglo American making an additional capital investment of $200 million in the combined business to help fund the ongoing development of ZEHS which, upon completion of the Transaction, values the business in the order of $1.5 billion and results in Anglo American owning a majority shareholding in First Mode. The balance of the equity interest at that time will be held by a number of First Mode’s founders and employees.

Upon closing of the Transaction, expected in January 2023, Anglo American will enter into a supply agreement with First Mode to decarbonise its global fleet of ultra-class mine haul trucks, of which approximately 400 are currently in operation, in support of Anglo American achieving its 2040 target for carbon neutral operations. The roll-out across Anglo American’s haul truck fleet over the next c.15 years is subject to the completion of agreed and committed studies across seven mine sites, certain performance and cost criteria, and relevant regulatory, corporate and shareholder approvals. The supply agreement also includes the appropriate provision of critical supporting infrastructure such as refuelling, recharging, and facilitation of hydrogen production.

Anglo American also recognises its role in supporting broader decarbonisation objectives outside its own business. The technologies and capabilities that it has been developing as part of the nuGen™ project with First Mode present opportunities beyond Anglo American’s haul truck fleet, including across other industries that rely on heavy duty forms of transport, such as rail.

In addition to accelerating the development and commercialisation of the ZEHS technology, the new combined business will allow strategic third parties to co-invest alongside Anglo American and First Mode, offering the opportunity to accelerate their own decarbonisation and participate in the potential offered by the clean ZEHS technology.

The new combined business retains the First Mode name and will prioritise developing nuGen™ ZEHS, building on three years of extensive development by Anglo American and First Mode.

nuGen™ ZEHS

Anglo American launched the prototype of its nuGen™ ZEHS hydrogen-powered mine haul truck at its Mogalakwena PGMs mine in South Africa in May 2022 – the world’s largest designed to operate in everyday mining conditions.

Conceived as part of Anglo American’s FutureSmart Mining™ programme, nuGen™ ZEHS is an end-to-end solution to decarbonise heavy duty transport and includes hydrogen production, on-site storage, ultra-heavy duty refuelling and hydrogen-battery hybrid powertrains to replace incumbent fossil fuel technology. With diesel emissions from its mine haul truck fleets accounting for 10-15% of Anglo American’s total Scope 1 emissions, and haulage trucks accounting for up to 80% of diesel emissions at open pit mines, nuGen™ ZEHS will play an important role in delivering not only Anglo American’s target of carbon neutral operations by 2040, but also supporting the decarbonisation of the mining industry, with potential across other industries.

First Mode

First Mode is a global carbon reduction company developing creative, clean energy solutions for heavy industry’s toughest problems. We started by removing the diesel engine from a colossal mining truck and replacing it with a hydrogen fuel cell powerplant. A world-first, and the world’s largest. But we’re not stopping there. We are also working on providing critical mine site infrastructure for hydrogen production, battery recharging, and hydrogen refuelling. Today, we’re starting at the source, the mining industry, and tomorrow the larger supply chain, to completely eliminate the use of diesel and speed the clean energy transition.
www.firstmode.com

Anglo American

Anglo American is a leading global mining company and our products are the essential ingredients in almost every aspect of modern life. Our portfolio of world-class competitive operations, with a broad range of future development options, provides many of the future-enabling metals and minerals for a cleaner, greener, more sustainable world and that meet the fast growing every day demands of billions of consumers. With our people at the heart of our business, we use innovative practices and the latest technologies to discover new resources and to mine, process, move and market our products to our customers – safely and sustainably.

As a responsible producer of diamonds (through De Beers), copper, platinum group metals, premium quality iron ore and steelmaking coal, and nickel – with crop nutrients in development – we are committed to being carbon neutral across our operations by 2040. More broadly, our Sustainable Mining Plan commits us to a series of stretching goals to ensure we work towards a healthy environment, creating thriving communities and building trust as a corporate leader. We work together with our business partners and diverse stakeholders to unlock enduring value from precious natural resources for the benefit of the communities and countries in which we operate, for society as a whole, and for our shareholders. Anglo American is re-imagining mining to improve people’s lives.
www.angloamerican.com

New report Says 67% of SMEs Worldwide are fighting for survival

By

LnT Desk

-

2 December 2022

Amid recession fears, business leaders cite survival and expansion as their top challenge in a global survey of 800 executives of SMEs and mid-sized companies
SMEs are the backbone of the global economy, creating close to 70% of jobs and GDP worldwide
World Economic Forum report highlights opportunities for boosting future readiness of SMEs
Read the full report here

Geneva, Switzerland, 2 December 2022 – Small- and medium-sized enterprises (SMEs) and mid-sized companies are the backbone of the global economy. They create close to 70% of jobs and GDP worldwide. But, amid warnings of a global recession, research from the World Economic Forum and the National University of Singapore Business School indicates that 67% of executives from SMEs cite survival and expansion as their main challenge.

They mention low margins, the challenge of scaling the business and expanding to new markets, and clients/consumers as the main pressure points.

The report, Future Readiness of SMEs and Mid-Sized Companies: A Year On, looks at companies emerging from the pandemic. It builds on analysis of over 200 peer-reviewed articles and the quantitative and qualitative surveying of about 800 leaders and executives from SMEs and mid-sized companies. Business leaders also cite talent acquisition and retention (48%), culture and values (34%), funding and access to capital (24%), as well as non-favourable business policy environments (22%) as their biggest challenge.

The report also identifies pragmatic ways for smaller companies to embed future readiness into corporate strategies and highlights sustainability and digital transformation as two overlooked challenges. It focuses on how smaller companies can boost their resilience through stronger business frameworks. It also highlights how their high level of agility can benefit the development and implementation of:
–      A strategic approach to talent management
–      A staged approach to digital transformation
–      Specific sustainability measures depending on the company’s level of maturity in this space

While smaller companies can increase their future readiness, the wider policy environment – such as the infrastructure for digital trade and finance – has a direct and important impact on their ability to thrive. It is, therefore, key for policy-makers, investors and other stakeholders to do what is in their capabilities to contribute to building the future readiness of this segment of the economy.

“The business community is stepping up to tackle the biggest issues facing the world. SMEs and mid-sized companies are key enablers in this pursuit. This report sheds light on some key opportunity spaces for SMEs and mid-sized to do exactly that,” said Børge Brende, President, World Economic Forum.

Rashimah Rajah, Professor at the National University of Singapore and co-lead author of the report, added: “SMEs and mid-sized companies have unique strengths in their ability to pivot their business models to be more future ready and, by hiring and developing the right talent, they can mobilize positive internal and external change faster than larger companies. However, to fully realize their potential, they also need the support of policy-makers in recognizing their credentials as well as in rewarding sustainability initiatives.”

The report was developed in collaboration with the National University of Singapore Business School, as well as with expert contributions from UnternehmerTUM, Aston Business School, TBS Education, the Aspen Institute, Asia Global Institute and the International Chamber of Commerce.

The World Economic Forum will be leveraging the insights generated in this report to further support SMEs and mid-sized companies in their future-readiness journey. This will be done through the creation of additional resources including the continuous development of the Forum’s self-assessment and benchmarking tool on future readiness, as well as the creation of a space for informal peer-to-peer learning between companies as well as meet-ups with key experts.

With some of the key insights of the report coming from the New Champions Community, the Forum aims to amplify the voices of purpose-driven mid-sized businesses. This community and its more than 100 members share and learn from best practices, proven innovations and support new partnerships for the common good in the mid-sized landscape.

The Forum is now accepting applications from forward-looking mid-sized companies that are pioneering new business models, emerging technologies and sustainable growth strategies

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