Tag: partnership

In South Africa, businesses are required to contribute to the social and economic development (SED) by the Broad-Based Black Economic Empowerment (B-BBEE) Act of 2003. This legislation stipulates the assessment of SED performance through a scorecard covering enterprise development, skills training, job creation, socio-economic projects, and preferential procurement.

In recent years, family offices have emerged as formidable players in the global financial landscape, managing substantial wealth on behalf of ultra-high-net-worth individuals. Although there is still a preference by some family offices to adopt a more hands-on approach by directly acquiring private companies and properties, many are mitigating risk by co-investing with seasoned private equity professionals in direct investments.

On 27 June 2024, the South African Revenue Service (SARS) announced its enhanced Beneficial Ownership disclosures for the 2024 Filing Season. Not even 24 hours later, the Companies and Intellectual Property Commission (CIPC) issued a media release enforcing beneficial ownership (OB) declaration, to be able to file annual returns. This may simply be a compliance coincidence, but more likely a strategic move to eradicate non-compliance for companies, trusts, and partnerships, on all levels.

Learn the surprising power of delivering beyond your customers' expectations. Essential lessons in hospitality for every business, from the former co-owner of legendary restaurant Eleven Madison Park. Will Guidara was twenty-six when he took the helm of Eleven Madison Park, a struggling New York City two-star brasserie that had never quite lived up to its majestic room. Eleven years later, EMP was named the best restaurant in the world.

For too long, private banking has been stuck in an outdated transactional mindset, focused solely on expediting daily banking needs for wealthy clients. True private banking needs go far beyond mere transactional prioritisation and convenience; it requires an understanding of the powerful emotions tied to an individual's finances and life goals and a fundamental shift towards a model that provides comprehensive value-adding advisory solutions.

Outsourcing is more than just catching an expert by the digital tail and swinging them into the enterprise, it’s a strategic investment into a long-term collaboration. Outsourcing essential business operations across multiple departments and functions has proven its strategic value as service providers refine their offerings and enterprises adapt their use cases and perceptions.

As South Africa moves into 2024, the landscape of Broad-Based Black Economic Empowerment (B-BBEE) is poised for significant shifts. The B-BBEE framework has been a cornerstone of economic transformation in our country, aiming to address historical imbalances and promote inclusive economic growth.

It’s fair to say that in human resources (HR) circles there is something of a panic around talent. Between “quiet quitting”, the great resignation, and the general disruption to the workplace caused by COVID-19, HR practitioners find themselves grappling with how to attract, develop and retain talent, and there is much handwringing about the so-called talent shortage.

A growing number of South African fintech companies have developed market-ready products and are considering how to expand beyond the relatively small domestic arena. In doing so, they face a list of new issues. These include how to raise funds for growth, how bringing in international funding will affect their local Broad-Based Black Economic Empowerment (B-BBEE) status, and how they will be affected by changing regulations in the pipeline.

While there is still largely a pessimistic mind-set regards the South African economy locally, there are many companies that have been reporting good results and positive profits margins - think banks and service industries. As such, there is a real case to be made that this (positivity) will be able to drive economic growth.