The Next Decade Cover.Indd

Total Page:16

File Type:pdf, Size:1020Kb

The Next Decade Cover.Indd THE NEXT DECADE Perspectives on South Africa’s growth and development This study has been funded by the Ford Foundation, the Open Society Foundation for South Africa, the Charles Stewart Mott Foundation, the Friedrich Naumann Foundation, SABMiller, DaimlerChrysler, and Shell South Africa. THE NEXT DECADE Perspectives on South Africa's growth and development Edited by Ann Bernstein and Sandy Johnston Johannesburg November 2005 Published by The Centre for Development and Enterprise Pilrig Place, 5 Eton Road, Parktown, Johannesburg, South Africa P O Box 1936, Johannesburg 2000, South Africa Tel 27-11-482-5140 • Fax 27-11-482-5089 • [email protected] www.cde.org.za Cover photograph: A community road worker directs traffic at a construction site near Qunu in the Eastern Cape. Lori Waselchuk / South Photos / The Bigger Picture The views expressed in this volume do not necessarily reflect those of the project's funders. All rights reserved. The material in this publication may not be copied, stored, or transmitted without the prior permission of the publishers. Short extracts may be quoted, provided the source is fully acknowledged. ISBN 0-9584697-5-X CONTENTS About the editors 4 About the contributors 4 Introduction 7 Part 1 Reflections and narratives Chapter 1 Reality and perception ten years on 23 Marion Edmunds Part 2 Can the social fabric sustain growth? Chapter 2 Family, young people, and the social fabric 49 Peter Delius Chapter 3 The effect of crime on business 68 Jeff McCarthy Part 3 Mobility and inequality Chapter 4 Inequality in post-apartheid South Africa 93 Jeremy Seekings, Nicoli Nattrass, and Murray Leibbrandt Chapter 5 South Africa's new middle class 112 Lawrence Schlemmer Chapter 6 Black economic empowerment 141 Kevin Davie Part 4 Economic policy: GEAR and after Chapter 7 Growth in South Africa 165 Merle Holden Chapter 8 Going for growth: the ANC government’s economic policies 189 Greta Steyn Part 5 The extended growth agenda Chapter 9 Social delivery in South Africa 209 Servaas van der Berg and Ronelle Burger Chapter 10 Welfare and development 228 Stefan Schirmer About the editors Dr Sandy Johnston is a senior research and project executive at CDE with responsibilities for conceiving and managing research projects, as well as writing and editing reports. Prior to join- ing CDE he was professor of political science and head of the school of undergraduate studies at the University of Natal, Durban. He has published widely on South Africa’s politics and interna- tional relations. Ann Bernstein is the founding executive director of CDE. A leading proponent of the impor- tance of economic growth in promoting democracy and sustainable development strategies in South Africa, she previously served as an executive director of the Urban Foundation. She has also been a board member of the Development Bank of Southern Africa, and a visiting profes- sor at the University of Cape Town. She has published extensively on business, democracy, development, and policy-making in South Africa, and is one of South Africa’s leading policy analysts. About the contributors Ronelle Burger is a researcher in the department of economics at the University of Stellen- bosch. Her work is focused on service delivery and poverty alleviation. Kevin Davie is a journalist and editor specialising in business issues. He is a contributing edi- tor to the Mail & Guardian. Dr Peter Delius is a professor of history at the University of the Witwatersrand. He has done extensive work on the impact of colonialism and urbanisation on African rural societies, and has undertaken numerous research and policy projects for public and private sector bodies. He is a senior consultant to CDE. Marion Edmunds is an investigative journalist and broadcaster. She is currently a producer and presenter of the M-Net programme Carte Blanche. Dr Jeff McCarthy is a consultant on development research and strategy. He has held professo- rial posts at the universities of Natal and Durban-Westville. He has undertaken major research projects for public and private sector institutions. He is a senior consultant to CDE. Dr Merle Holden is a professor of economics and head of the School of Economics and Man- agement of the University of KwaZulu-Natal, Durban. She serves on the Board of the Trade and Industry Policy Strategies, the Competition Tribunal of South Africa, and the Financial Markets Advisory Board. ABOUT THE CONTRIBUTORS ■ Dr Murray Leibbrandt is a professor of economics at the University of Cape Town, and the director of the South African Labour and Development Research Unit. Dr Nicoli Nattrass is a professor of economics at the University of Cape Town. She has pub- lished widely on macroeconomic policy, inequality, and unemployment. Dr Jeremy Seekings is a professor of political studies and of sociology at the University of Cape Town. He is also the director of the social surveys unit in the Centre for Social Science Research at the same university. Dr Stefan Schirmer is a senior lecturer in economics at the University of the Witwatersrand. His research interests are agricultural and rural development, the history of the South African economy, and African development. He is a consultant to CDE. Prof Lawrence Schlemmer is the director of the Helen Suzman Foundation, and a director of the strategic social research company MarkData. He has held several senior academic posts, and consults widely as a sociologist and political analyst to both the public and private sectors. He is a senior consultant to CDE. Greta Steyn is a journalist specialising in finance and business issues. She is an associate edi- tor of Finance Week. Dr Servaas van der Berg is a professor of economics at the University of Stellenbosch. He has published widely on income distribution, poverty and social policy. He consults widely to pub- lic and private sector organisations in South Africa and overseas. 5 ■ INTRODUCTION here is no ideal vantage point from which to take stock of South Africa’s progress since its T transition to democracy, and the challenges facing it during its next phase of development. Elections provide a five-yearly opportunity to do so, but in a context distorted by the anxiet- ies of political contest, even in an electoral system as uncompetitive as our own. Anniversaries such as the first ten years of democracy in 2004 will always be important for a democracy such as ours, which has its origins in foundation rather than evolution. But the ink on the anniver- sary report cards had hardly dried when events surrounding the succession to ANC leadership threatened to alter the political landscape significantly, and demonstrated how unpredictable the state of our nation could be. Oblivious to both anniversaries and political headlines, the long-term trends in society and the economy that shape and define South Africa’s challenges continue to unfold. The purpose of this publication is to highlight those trends, and identify those challenges. However, it is neither a state-of-the-nation panorama, nor a snapshot of a historical moment in the life of a democracy. It is guided by selection and priorities, and above all by the acceptance that our progress as a nation is ragged and uneven. Trends may be out of step with each other, contradictions may abound, and synthesis may be very difficult. Difficulty is no excuse for defeatism, however, and in this spirit CDE commissioned research in those areas which we believed to be particularly important. Our starting point was the belief that economic growth is central to all of the country’s chal- lenges. We regard economic growth as the only way to create a context in which poverty and persistent economic, social, and political divisions can be tackled. Two things in particular shape and condition this belief in growth. The first is that relations between state and market are fundamental to the prospects of economic growth, and that this rela- tionship is more complex and nuanced than can be captured by slogans about ‘the Washington Consensus’ and ‘neoliberalism’. Secondly, we understand the prospects of economic growth to be determined by a wider range of influences than simply economic policy, narrowly defined. In par- ticular, the state of the social fabric – encompassing issues such as family structures, social mobility, and inequality – provides (or fails to provide) essential ‘soft’ growth factors such as confidence, trust in the system, independence of thought, and entrepreneurial qualities such as innovation and risk- taking that complement the ‘hard’ policy-driven conditions for growth. It is out of these and other concerns that the research agenda took shape, and the menu of challenges developed. REFLECTIONS AND NARRATIVES To place this agenda in context, CDE commissioned a survey of opinion-makers’ views on the first ten years of inclusive democracy from Marion Edmunds, an edited version of which appears as ■ INTRODUCTION chapter 1. It confirms how difficult it is to pull everything together, and hope for a South African synthesis. The best device for communicating the varied and nuanced assessments of the inter- viewees was to compose them into narratives. While they reflected different perspectives, and emphasised different elements, they overlapped to a significant degree. This overlap perhaps reflects the tendency of opinion-makers to cluster around the centre and the consciousness of the need for nation building, which guides almost all constituencies of opinion in South Africa today. The prominence given in the various narratives to questions of economic management and growth draws attention to one important aspect of South African politics and policy-making: that the government’s handling of the economy is more warmly approved by those who are out- side its natural constituency – or even compete with it for office – than those with whom it is in alliance and on whom it relies for support.
Recommended publications
  • Somalinomics
    SOMALINOMICS A CASE STUDY ON THE ECONOMICS OF SOMALI INFORMAL TRADE IN THE WESTERN CAPE VANYA GASTROW WITH RONI AMIT 2013 | ACMS RESEARCH REPORT ACKNOWLEDGEMENTS This research report was produced by the African Centre for Migration & Society at the University of the Witwatersrand, Johannesburg, with support from Atlantic Philanthropies. The report was researched and written by Vanya Gastrow, with supervision and contributions from Roni Amit. Mohamed Aden Osman, Sakhiwo ‘Toto’ Gxabela, and Wanda Bici provided research assistance in the field sites. ACMS wishes to acknowledge the research support of various individuals, organisations and government departments. Abdi Ahmed Aden and Mohamed Abshir Fatule of the Somali Retailers Association shared valuable information on the experiences of Somali traders in Cape Town. Abdikadir Khalif and Mohamed Aden Osman of the Somali Association of South Africa, and Abdirizak Mursal Farah of the Somali Refugee Aid Agency assisted in providing advice and arranging venues for interviews in Bellville and Mitchells Plain. Community activist Mohamed Ahmed Afrah Omar also provided advice and support towards the research. The South African Police Service (SAPS) introduced ACMS to relevant station commanders who in turn facilitated interviews with sector managers as well as detectives at their stations. Fundiswa Hoko at the SAPS Western Cape provincial office provided quick and efficient coordination. The Department of Justice and Constitutional Development facilitated interviews with prosecutors, and the National Prosecuting Authority provided ACMS with valuable data on prosecutions relating to ‘xenophobia cases’. ACMS also acknowledges the many Somali traders and South African township residents who spoke openly with ACMS and shared their views and experiences.
    [Show full text]
  • South African Multinational Corporations in Africa Bargaining with Multinationals
    South African Multinational Corporations in Africa Bargaining with Multinationals BY MARIE DANIEL The research contained in this guide was conducted by the Labour Research Service (LRS) and made possible through the support of the FES Trade Union Competence Centre for Sub-Saharan Africa (FES TUCC). CONTACT DETAILS Bastian Schulz Marie Daniel Director, FES TUCC No. 7 Community House 34 Bompas Road 41 Salt River Road, Salt River Dunkeld West Cape Town, 7915 Johannesburg T +27 (0) 21 486-1100 T +27 11 341 0270 F +27 (0) 21 447 9244 F +27 11 341 0271 C +27 (0) 82 906 2490 E bastian.schulz@ E [email protected] fes-southafrica.org W http://www.lrs.org.za W http://www.fes-tucc.org WHY USE THIS GUIDE? When entering bargaining processes, information relating to company revenue, profits and directors’ pay can assist negotiators in securing securing employees’ wage demands. Directors are employed by a company in the same way as any other employee, be it on managerial or entry level. There is thus no reason why the remuneration approache applied to directors should differ from that applied to other employees. This guide gives a step-by-step approach to assist Global Union Federations (GUFs) and their affiliates in utilising company information when preparing for bargaining processes. YOUR Summarised Checklist on Bargaining with Multinationals What appears below is a quick, easy-to-use checklist to refer to as the process is followed. More detail on each step appears later in the publication. Company information can become a valuable bargaining tool
    [Show full text]
  • Fast-Moving Consumer Goods in Africa
    Sector Report Fast-Moving Consumer Goods in Africa kpmg.com/africa The series has the following reports: • Oil and Gas in Africa • Private Equity in Africa • Manufacturing in Africa • Luxury Goods in Africa • The African Consumer and Retail • White Goods in Africa • Insurance in Africa • Agriculture in Africa • Power in Africa • Construction in Africa • Banking in Africa • Healthcare in Africa Contents INTRODUCTION AND OVERVIEW 1 KEY DRIVERS 2 Market Size 2 Market Concentration 2 Related Industries 4 Spending Power 4 Buying Habits 5 FMCG IN AFRICA 6 Food 6 Beverages 6 Personal Care Products 8 Home Care Products 8 FMCG GROWTH SPOTS IN AFRICA 6 Ghana 9 Kenya 10 Nigeria 14 SOURCES OF INFORMATION 16 CONTACT DETAILS back page 1 | Fast-Moving Consumer Goods in Africa Introduction & Overview The fast-moving consumer goods (FMCG) sector, Another important characteristic of the FMCG also called the consumer packaged goods (CPG) sector is that it generally does well in an economic sector, is one of the largest industries worldwide. downturn, with consumers rather cutting back on FMCGs are generally cheap products that have a luxury products. short shelf life, and are purchased by consumers The FMCG sector in Africa has significant scope to on a regular basis. Profit margins on these products expand. Poverty levels in especially Sub-Saharan are usually low for retailers, who try to offset this by Africa (SSA) are still quite high, with food and other selling large volumes. Some of the most well-known necessities dominating consumer budgets. For this FMCG companies in the world include Unilever, The reason, the food sub-sector of FMCG has a very Coca-Cola Company, and Johnson & Johnson.
    [Show full text]
  • ISS Paper 253 Bafana Mandela Magic 24Jan1500.Indd
    Institute for Security Studies PAPER South African Futures 2030 How Bafana Bafana made Mandela Magic INTRODUCTION and are consistent in execution during every match, After the death in December 2013 of the beloved and refining and harmonising their strategy as they go along. globally admired first democratic president of South Changing the productive structures of South Africa’s Africa, Nelson Rolihlahla Mandela, it is under troubled economy is complex and challenging, however. circumstances that South Africans will go to elections later Competition is stiff and the barriers to success are high. this year. The 2014 elections take place against the backdrop of unprecedented turbulence in the ruling Tripartite Alliance, led by the African National Congress It is important to (ANC). Many issues underlie the current volatile situation, including the nature of leadership, extent of corruption and emphasise that South lack of clarity on policy.1 Africa is not doing badly. The purpose of this paper is to present three key ‘storylines’, or scenarios, for South Africa up to 2030, the ‘Bafana Bafana’ is simply year that coincides with the timeline of the government’s the well-known story of the National Development Plan – itself a divisive issue between the ANC and its labour federation ally, the perennial underachiever Congress of South African Trade Unions (COSATU). After a brief presentation of South Africa in an international context, this paper starts by examining the The scenario of ‘A Nation Divided’ reflects a South Africa nation’s current development pathway, called ‘Bafana that steadily gathers speed downhill as factional politics Bafana’ after the national soccer team.
    [Show full text]
  • Mean Streets: Migration, Xenophobia and Informality in South Africa
    Mean Streets Migration, Xenophobia and Informality in South Africa Published by the Southern African Migration Programme (SAMP), the African Centre for Cities (ACC) and the International Development Research Centre (IDRC) Southern African Migration Programme, International Migration Research Centre Balsillie School of International Affairs, 67 Erb Street West, Waterloo, Ontario N2L 6C2, Canada African Centre for Cities, University of Cape Town, Environmental & Geographical Science Building, Upper Campus, Rondebosch, 7701, South Africa International Development Research Centre, 160 Kent St, Ottawa, Canada K1P 0B2 and Eaton Place, 3rd floor, United Nations Crescent, Gigiri, Nairobi, Kenya ISBN 978-1-920596-11-8 © SAMP 2015 First published 2015 Production, including editing, design and layout, by Bronwen Dachs Muller Cover by Michiel Botha Cover photograph by Alon Skuy/The Times. The photograph shows Soweto residents looting a migrant-owned shop in a January 2015 spate of attacks in South Africa Index by Ethné Clarke Printed by MegaDigital, Cape Town All rights reserved. No part of this publication may be reproduced or transmitted, in any form or by any means, without prior permission from the publishers. Mean Streets Migration, Xenophobia and Informality in South Africa Edited by Jonathan Crush Abel Chikanda Caroline Skinner Acknowledgements The editors would like to acknowledge the financial and programming support of the Inter- national Development Research Centre (IDRC), which funded the research of the Growing Informal Cities Project and the Workshop on Urban Informality and Migrant Entrepre- neurship in Southern African Cities hosted by SAMP and the African Centre for Cities in Cape Town in February 2014. Many of the chapters in this volume were first presented at this workshop.
    [Show full text]
  • Results Presentation February 2017
    AGENDA 1. WELCOME 2. FINANCIAL HIGHLIGHTS| Marius Bosman 3. OPERATIONAL HIGHLIGHTS| Pieter Engelbrecht 4. STRATEGIC FOCUS AREAS| Pieter Engelbrecht 5. QUESTIONS| Executive Team FINANCIAL HIGHLIGHTS TRADING MARGIN FINANCIAL HIGHLIGHTS FINANCIAL HIGHLIGHTS Existing Net new Total Sales growth per segment stores stores Supermarkets RSA 7.4% 3.3% 10.7% Supermarkets Non-RSA 14.2% 18.1% 32.3% Furniture 3.9% 6.1% 10.0% Other Operating Segments - - 10.5% Total 8.6% 5.4% 14.0% • Supermarkets Non-RSA at constant currencies 51.7% GROSS PROFIT MARGIN FINANCIAL HIGHLIGHTS Dec 2015 Dec 2016 Growth Other operating income Rm Rm Finance Income Earned 159 162 1.9% Net Premiums Earned 206 192 -6.8% Operating Lease Income 192 210 9.4% Commissions Received 388 398 2.6% Sundry Income 243 245 0.8% Total 1 188 1 207 1.6% FINANCIAL HIGHLIGHTS • Depreciation and amortisation: 11.1% • Operating leases: 8.9% • Employee benefits: 14.7% KEY INFORMATION PER SEGMENT Dec 2015 Dec 2016 Growth Trading Profit Rm Rm Supermarkets RSA 2 665 2 992 12.3% Supermarkets Non-RSA 459 746 62.5% Furniture 98 95 -3.1% Other Divisions 57 74 29.8% Total 3 279 3 907 19.2% EXCHANGE RATE DIFFERENCES Rand appreciation against the US Dollar • Dec 2015: R15.20/$ • Dec 2016: R13.64/$ INVENTORY LEVELS FINANCIAL HIGHLIGHTS Dec 2015 Dec 2016 Capital expenditure Rm Rm Land, Buildings & Leasehold Improvements 536 516 Store Refurbishment 378 368 New Stores 665 429 Information Technology 571 683 Other Replacements* 414 587 Total 2 564 2 583 * Vehicles, office furniture and DC equipment FINANCIAL HIGHLIGHTS
    [Show full text]
  • Doing Business in Post-Conflict and Fragile States: Challenges and Risks
    Development Planning Division Working Paper Series No. 23 Doing business in post-conflict and fragile states: Challenges and risks Dianna Games 2011 Development Planning Division Working Paper Series No. 23 Published by Development Planning Division Development Bank of Southern Africa PO Box 1234 Halfway House 1685 South Africa Telephone: +27 11 313 3048 Telefax: +27 11 206 3048 Email: [email protected] Intellectual Property and Copyright © Development Bank of Southern Africa Limited This document is part of the knowledge products and services of the Development Bank of Southern Africa Limited and is therefore the intellectual property of the Development Bank of Southern Africa. All rights are reserved. This document may be reproduced for non-profit and teaching purposes. Whether this document is used or cited in part or in its entirety, users are requested to acknowledge this source. Legal Disclaimer The findings, interpretations and conclusions expressed in this report are those of the authors. They do not necessarily reflect the views or policies of the Development Bank of Southern Africa. Nor do they indicate that the DBSA endorses the views of the authors. In quoting from this document, users are advised to attribute the source of this information to the author(s) concerned and not to the DBSA. In the preparation of this document, every effort was made to offer the most current, correct and clearly expressed information possible. Nonetheless, inadvertent errors can occur, and applicable laws, rules and regulations may change. The Development Bank of Southern Africa makes its documentation available without warranty of any kind and accepts no responsibility for its accuracy or for any consequences of its use.
    [Show full text]
  • South African Futures 2030 How Bafana Bafana Made Mandela Magic
    Institute for Security Studies PAPER South African Futures 2030 How Bafana Bafana made Mandela Magic INTRODUCTION and are consistent in execution during every match, After the death in December 2013 of the beloved and refining and harmonising their strategy as they go along. globally admired first democratic president of South Changing the productive structures of South Africa’s Africa, Nelson Rolihlahla Mandela, it is under troubled economy is complex and challenging, however. circumstances that South Africans will go to elections later Competition is stiff and the barriers to success are high. this year. The 2014 elections take place against the backdrop of unprecedented turbulence in the ruling Tripartite Alliance, led by the African National Congress It is important to (ANC). Many issues underlie the current volatile situation, including the nature of leadership, extent of corruption and emphasise that South lack of clarity on policy.1 Africa is not doing badly. The purpose of this paper is to present three key ‘storylines’, or scenarios, for South Africa up to 2030, the ‘Bafana Bafana’ is simply year that coincides with the timeline of the government’s the well-known story of the National Development Plan – itself a divisive issue between the ANC and its labour federation ally, the perennial underachiever Congress of South African Trade Unions (COSATU). After a brief presentation of South Africa in an international context, this paper starts by examining the The scenario of ‘A Nation Divided’ reflects a South Africa nation’s current development pathway, called ‘Bafana that steadily gathers speed downhill as factional politics Bafana’ after the national soccer team.
    [Show full text]
  • Integrated Report 2016 V12
    INTEGRATED REPORT 2016 V12 OUR GREATEST PRODUCT IS OUR COMMITMENT WorldReginfo - 74fc7cbc-ace4-4292-9900-4575af6f7b4b including household products, furniture, pharmaceuticals and financial services amongst others. At the heart of our offering is an unwavering dedication to providing the lowest prices to people of all income levels across Africa. We achieve this by pursuing efficiency in everything we Shoprite Holdings Limited is an investment holding do. Our advanced distribution centres and sophisticated company whose combined subsidiaries constitute the supply line infrastructure give us greater control over our largest fast moving consumer goods (FMCG) retail operations. This empowers us to overcome economic operation on the African continent. We operate a total of challenges without compromising on quality. 1 855 corporate and 359 franchise stores in 15 countries By setting the conditions for enduring success, we can from Cape Town to Accra and the Indian Ocean islands. continue to provide affordable food to our communities, While the Group’s primary business is food retailing, our invest in social upliftment and contribute to the African offering extends to a broad range of goods and services economy − all while creating value for all our stakeholders. SHOPRITE HOLDINGS LTD COMPRISES THE FOLLOWING BRANDS: better and better Freshmark WorldReginfo - 74fc7cbc-ace4-4292-9900-4575af6f7b4b 1 TABLE OF “AFRICA IS THE CONTENTS FUTURE AND BUSINESS OVERVIEW BUSINESS BUSINESS Organisational Structure ...... 2 OVERVIEW WE ARE FULLY The Group ........................... 4 Financial Highlights ............. 6 COMMITTED TO IT. IN Board of Directors ............... 8 Chairman’s Report ............. 10 THE NEW FINANCIAL Chief Executive’s Report ... 12 Five-year Financial Review 16 YEAR, WE WILL NOT Financial Report ...............
    [Show full text]
  • Analyst Presentation August 2002
    Shoprite Holdings Limited Financial Results 30 June 2002 Introduction Whitey Basson Chief Executive Officer Shoprite Holdings Limited Table of Contents • Corporate Management • Financial Highlights • Management & Personnel • Store Expansion & Rationalisation • Market Analysis • Questions MANAGING Corporate DIRECTOR JW BASSON B COMM, CA (SA) AGE: 56 YRS Management SERV: 31 YRS DEPUTY MANAGING DIRECTOR C GOOSEN PERSONAL B COMM (HONS) CA (SA) ASSISTANT AGE: 49 YRS P ENGELBRECHT SERV: 19 YRS B COMPT (HONS) CA (SA) AGE : 33 YRS SERV: 5 YRS STATUTORY FINANCIAL INFORMATION HUMAN NON FOODS LOGISTICS PROPERTIES MARKETING AND LEGAL MANAGEMENT TECHNOLOGY RESOURCES BUYING SERVICES G MENTZ M BOSMAN P TZELLIOS C BURGER P V D MERWE B WEYERS S BRAUDE A VAN ZYL B COMPT (HONS) CA B ACC(HONS) B SC (ENG), MBA BA (HONS), MBA B COMM, MBA B COMM, LLB CA (SA) (SA) AGE : 45 YRS AGE : 31 YRS AGE : 43 YRS AGE : 45 YRS AGE : 40 YRS AGE : 50 YRS AGE : 46 YRS AGE : 54 YRS SERV: 9 YRS SERV: 2 YRS SERV: 11 YRS SERV: 13 YRS SERV: 14 YRS SERV: 25 YRS SERV: 16 YRS SERV: 21 YRS P SOLMS J MACLENNAN J VAN ZYL D MOLLER M FOURIE A VAN STADEN T WIESE B COMM (HONS) B COMM, CA (SA) B COMM, CA (SA) BA (HONS) MA B COMM (HONS) B COMM, LLD CA(SA) AGE : 42 YRS AGE : 47 YRS AGE : 40 YRS AGE : 43 YRS AGE : 28 YRS AGE : 45 YRS AGE : 39YRS SERV: 11 YRS SERV: 15 YRS SERV: 9 YRS SERV: 14 YRS SERV: 2 YR SERV: 16 YRS SERV: 10 YRS MANAGING DIRECTOR Corporate JW BASSON B COMM, CA (SA) AGE: 55 YRS Operations SERV: 31 YRS DEPUTY MANAGING DIRECTOR C GOOSEN B COMM (HONS) CA (SA) AGE: 49 YRS SERV:
    [Show full text]
  • 2011 Supplement
    Sunday Times Combined Metros 1 - 2011/10/31 01:30:08 PM - Plate: W:254.055mm H:7.618mm Images Business Times : weekgraphics : Top100COVEROct23+ Sunday Times Combined Metros 2 - 21/10/2011 05:39:48 PM - Plate: 2 Business Times TOP 100 C O M PA N I E S October 30 2011 How we calculate the Top 100 companies HE Business Times Winner is the one earning the most for its shareholders Top 100 Companies awards acknowledge T those listed companies measurement of shareholder ex-dividend, we have accrued qualification does not apply to which have earned the most fo r fortunes, the share price, plus the dividend. the Top 100 one-year tables, their shareholders. the amount of income returned Companies with a secondary which have a minimum value The share-price performance to shareholders, is an indicator listing on the JSE are included. traded of R100-million. of every company listed on the of the soundness of a In previous years, we have As the Top 100 is often JSE is calculated on the basis c o mp a ny ’s operations — if one excluded companies which did dominated by smaller of R10 000 invested over five accepts that share-price not meet the minimum value companies that have the ability years — from October 1 five performance is generally an to show strong growth, we have years ago to the end of accurate barometer. also included a Top 40 table to September 2011. All calculations are carried We have increased show the performance of the The winner is the company out by I-Net Bridge, the the minimum value blue-chip companies in the that earns the most for its financial services information JSE’s Top 40 index.
    [Show full text]
  • 'Retail Renaissance' Or a New Colonial Encounter at South African Compani
    White Managers and the African Renaissance – a ‘retail renaissance’ or a new colonial encounter at South African companies in foreign, African countries? Abstract: Codesria 11th General Assembly, Maputo, December 2005 Darlene Miller Senior Lecturer, Sociology Department, Rhodes University. Grahamstown. South Africa [email protected] Multinational companies are dynamic agents of regional integration. Post- apartheid Southern Africa brought expectations of South Africa's capacity to generate economic and political benefits for the region and the continent. The moment of openness offered by the political change in South Africa allowed for a reconfiguration of regional power relations. One concrete instance where these regional power relations are reconfigured is in the workplaces of South African multinational companies in foreign, African countries. Drawing on a case study of Shoprite, a South African retail multinational, in Mozambique and Zambia, this paper shows how South African companies create managerial hierarchies in host countries that both restructure and reinforce South Africa's regional domination. While NEPAD and the African Renaissance claim a moment of regional regeneration, the organisational structures and representational strategies of the regional South African firm refashion a colonial encounter. Forms of workplace organisation, while not the only factors that affect regional perceptions of workers, have important consequences for the regional dispositions and claims of workers employed by these firms. The case study below shows that Shoprite, a South African regional multinational, is led primarily by white South Africans. The political significance of this enduring racial pattern is not lost on local hosts. A discourse of modernisation informs the dispositions of these white South African managers 'in the field'.
    [Show full text]