SG’s wealth and asset management unit PSG Konsult said it is going to stick to its strategy of growing existing businesses following its strong performance during the year to February. The group, whose operations comprise of wealth management unit, PSG Wealth, PSG Asset Management and short-term insurer PSG Konsult, reported a 4% increase in recurring net profits when most life insurers posted declines for the 2018 financial year as a result of the JSE losses. The JSE closed 11.37% down in 2018. “We often get asked if we plan to be acquisitive and it’s very difficult to predict if we will be in future butRead More →

Interceptor evolved out of HI-TEC Sports, the footwear company founded in 1974 by Frank van Wezel. It was Frank’s love for sport that lead him to build an innovative, lightweight and instantly comfortable sports shoe. This lightweight technology could be transferred into safety and uniform footwear. First, Magnum Boots evolved out of HI-TEC in 1982. A uniform and security footwear range that has been an established international brand since 2000. Then, HI-TEC expanded their range to include a range of safety footwear which was called HI-TEC Work. This has now evolved into Interceptor by HI-TEC. Interceptor by Hi-Tec, answers to the end-user’s demand in providingRead More →

What business is willing to say to itself is as important, as what it says to government. Which is why the document, a contract with society, released by an organisation representing big business, Business Leadership SA’s Contract with South Africa may be setting a new tone not only on how business deals with government but also how major economic actors deal with the economy’s problems. When most commentators are asked how South African business should respond to government, the common response is that it should complain, loudly and in public. This view has no doubt firmed since the March cabinet reshuffle damaged the economy andRead More →

The moment an undergraduate student starts a business degree, their mind is already geared to the job offers they hope will be coming thick and fast upon graduation. Yet there is an ongoing mismatch between what students think employers want, and what employers are actually looking for. Amid concerns that places are going unfilled because some graduates are not making it through selection processes, a new campaign has been launched called Work Ready Graduates to get more university students comfortable with business etiquette. Employers need to make sure the graduates they hire can hit the ground running, but are also flexible employees who can re-trainRead More →

Saudi Arabia is in talks to build an oil refinery in SA as part of a pledge to invest as much as $10bn in the economy. Joint studies for a refinery and petrochemical complex will be conducted by state oil giant Saudi Aramco and the Central Energy Fund, energy ministers from the two countries said in Pretoria on Friday. The negotiations mark a step forward in SA’s plans to add a refinery, which it has been considering for about a decade. Saudi Arabia made its spending pledge last July as President Cyril Ramaphosa sought investment to revive a flagging economy. Although SA has struck previousRead More →

The MMI Group has become the first major insurance group to reach Level 1 Broad-Based Black Economic Empowerment (B-BBEE) status under the revised Financial Sector Code (FSC). This rating applies to all companies within the group, including the client-facing brands Metropolitan, Momentum, Multiply (rewards and lifestyle wellness programme), and specialist brands, Guardrisk and Eris Property Group. This is the first time since MMI was established in 2010 that it has achieved a Level 1 B-BBEE rating. Busisiwe Sithole, Group Head of Transformation at MMI said the new rating is the result of a strategic, committed approach to transformation. “Transformation is one of MMI’s key businessRead More →

Business fraud can have a monumental impact on an organization. There are many types of fraud that go by different names, such as financial statement fraud, bribery and corruption and asset misappropriation. It is often the case that fraud instigated by an employee will involve more than one type of fraud. Also, business fraud is not always easy to detect because it does not always show up in a company’s official accounts system. In general, the most typical way to detect this type of fraud is by receiving a tip from an employee, a customer, or an outside vendor. Here is an overview of theRead More →

It’s a new year, which means an opportunity for new beginnings. The beginning of more impact for you and your business. Impact is more than a mission, more than a purpose. Impact is where your uniqueness, your unique voice, meets the needs and desires of the world. It’s where only you can uniquely contribute in a meaningful and powerful way. Having impact isn’t an accident. It’s a decision. A decision to bring out the best in yourself. To bring out the best in your business. I’ve been an entrepreneur for quite a long time, almost 22 years. It’s been a great journey of discovering myself,Read More →

THE ADVANTAGE OF ANALYTICS The wealth of data and the maturation of analytics tools are creating a means of creating data-informed solutions. Analytics can help shed light on questions surrounding a host of complex issues. Analytics is all about the use of statistical analysis and models, either explanatory or predictive, to gain valuable information to apply to complex problems. Analytics can provide insights into a wide variety of uncertainties for an institution. So analytics must start with a question or hypothesis. UPS AND DOWNS The first step to solving any problem is understanding the problem. Once you understand the problem, it is relatively simple toRead More →

1st Stage-Initiation: There can be varied reasons for a business start-up but the main values in running the business are of those who are the founders. We can see that company exhibits the main skills of the founder in its spirits, for example, if the founder is an engineer, he will emphasize in production rather than sales and marketing which should not be neglected. Main efforts are centered on the acceptability of the product in the market. If the owner can provide the demands of business i.e. time, energy, and finances, he/she can move to the second stage. Otherwise, he/she will have to wind upRead More →