Integrated Annual Report 2019
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Integrated Annual Report
eMedia Holdings | 2020 INTEGRATED ANNUAL REPORT ANNUAL eMedia Holdings | 2020 INTEGRATED 2020 INTEGRATED ANNUAL REPORT CONTENTS 2 Group at a glance 3 About this report 4 Who we are 19 5 Our companies 6 Financial highlights Corporate governance 8 Directors’ profile 20 Corporate governance report 10 Chief executive officer’s report 24 King lV application register 14 Operations report 29 Report of the audit and risk committee 15 Shareholder snapshot 31 Report of the remuneration committee 18 Directors’ interest in shares 33 Report of the social and ethics committee 34 Sustainability report 34 Environmental 36 Transformation 38 Human relations 39 Summarised annual financial results 40 Directors’ report 44 Declaration by the company secretary 45 Independent auditor’s report 46 Summarised consolidated financial results 52 Notes to the summarised consolidated results 59 Notice of annual general meeting 67 Form of proxy 68 Notes to form of proxy 69 Corporate information eMedia Holdings integrated annual report 2020 1 GROUP AT A GLANCE Ethical conduct, good corporate governance and risk governance are fundamental to the way that eMedia Holdings manages its business. Stakeholders’ interests are balanced against effective risk management and eMedia Holdings’ obligations to ensure ethical management and responsible control. 2 eMedia Holdings integrated annual report 2020 ABOUT THIS REPORT eMedia Holdings Limited (eMedia Holdings) presents this for the approval of these, which are then endorsed by the integrated annual report for the year ended 31 March 2020. board. All risks that are considered material to the business have This report aims to provide stakeholders with a comprehensive been included in this report. -
Blurred Lines
BLURRED LINES: HOW SOUTH AFRICA’S INVESTIGATIVE JOURNALISM HAS CHANGED WITH A NEW DEMOCRACY AND EVOLVING COMMUNICATION TOOLS Zoe Schaver The University of North Carolina at Chapel Hill School of Media and Journalism Advised by: __________________________ Chris Roush __________________________ Paul O’Connor __________________________ Jock Lauterer BLURRED LINES 1 ABSTRACT South Africa’s developing democracy, along with globalization and advances in technology, have created a confusing and chaotic environment for the country’s journalists. This research paper provides an overview of the history of the South African press, particularly the “alternative” press, since the early 1900s until 1994, when democracy came to South Africa. Through an in-depth analysis of the African National Congress’s relationship with the press, the commercialization of the press and new developments in technology and news accessibility over the past two decades, the paper goes on to argue that while journalists have been distracted by heated debates within the media and the government about press freedom, and while South African media companies have aggressively cut costs and focused on urban areas, the South African press has lost touch with ordinary South Africans — especially historically disadvantaged South Africans, who are still struggling and who most need representation in news coverage. BLURRED LINES 2 TABLE OF CONTENTS Chapter I: Introduction A. Background and Purpose B. Research Questions and Methodology C. Definitions Chapter II: Review of Literature A. History of the Alternative Press in South Africa B. Censorship of the Alternative Press under Apartheid Chapter III: Media-State Relations Post-1994 Chapter IV: Profits, the Press, and the Public Chapter V: Discussion and Conclusion BLURRED LINES 3 CHAPTER I: Introduction A. -
Integrated Annual Report 2019 2019 INTEGRATED ANNUAL REPORT Worldreginfo - Fe9ca6a0-3330-442E-A99f-Ebe086198619 Website At
Remgro Limited | Integrated Annual Report 2019 2019 INTEGRATED ANNUAL REPORT WorldReginfo - fe9ca6a0-3330-442e-a99f-ebe086198619 CREATING SHAREHOLDER VALUE SINCE 1948 Originally established in the 1940s by the late Dr Anton Rupert, Remgro’s investment portfolio has evolved substantially and currently includes more than 30 investee companies. MORE INFORMATION This Integrated Annual Report is published as part of a set of reports in respect of the financial year ended 30 June 2019, all of which are available on the Company’s website at www.remgro.com. INVESTOR TOOLS Cross-reference to relevant sections within this report Download from our website: www.remgro.com View more information on our website: www.remgro.com WorldReginfo - fe9ca6a0-3330-442e-a99f-ebe086198619 CONTENTS www.remgro.com | Remgro Limited | Integrated Annual Report 2019 1 OVERVIEW 1OF BUSINESS 4 REMGRO’S APPROACH TO REPORTING 7 SALIENT FEATURES 8 GROUP PROFILE REPORTS TO 10 COMPANY HISTORY SHAREHOLDERS 12 OUR BUSINESS MODEL 2 24 CHAIRMAN’S REPORT 14 UNDERSTANDING THE BUSINESS OF AN INVESTMENT HOLDING COMPANY 25 CHIEF EXECUTIVE OFFICER’S REPORT 16 KEY OBJECTIVES AND 32 CHIEF FINANCIAL OFFICER’S REPORT PRINCIPAL INTEGRATED RISKS 40 INVESTMENT REVIEWS 18 DIRECTORATE AND MEMBERS OF COMMITTEES 20 EXECUTIVE MANAGEMENT STRUCTURE 21 SHAREHOLDERS’ DIARY AND COMPANY INFORMATION FINANCIAL 4 REPORT 118 AUDIT AND RISK COMMITTEE REPORT GOVERNANCE AND 121 REPORT OF THE BOARD OF DIRECTORS SUSTAINABILITY 126 REPORT OF THE INDEPENDENT AUDITOR 3 127 SUMMARY FINANCIAL STATEMENTS 66 CORPORATE GOVERNANCE REPORT 79 RISK AND OPPORTUNITIES MANAGEMENT REPORT 86 REMUNERATION REPORT 104 SOCIAL AND ETHICS COMMITTEE REPORT 106 ABRIDGED SUSTAINABLE DEVELOPMENT REPORT ADDITIONAL 5 INFORMATION 146 FIVE-YEAR REVIEW AND SHARE STATISTICS 148 SHAREHOLDERS’ INFORMATION 151 NOTICE TO SHAREHOLDERS ATTACHED FORM OF PROXY WorldReginfo - fe9ca6a0-3330-442e-a99f-ebe086198619 Remgro invests in businesses that can deliver superior earnings, cash flow generation and dividends over the long term. -
Betrayal of the Promise: How South Africa Is Being Stolen
BETRAYAL OF THE PROMISE: HOW SOUTH AFRICA IS BEING STOLEN May 2017 State Capacity Research Project Convenor: Mark Swilling Authors Professor Haroon Bhorat (Development Policy Research Unit, University of Cape Town), Dr. Mbongiseni Buthelezi (Public Affairs Research Institute (PARI), University of the Witwatersrand), Professor Ivor Chipkin (Public Affairs Research Institute (PARI), University of the Witwatersrand), Sikhulekile Duma (Centre for Complex Systems in Transition, Stellenbosch University), Lumkile Mondi (Department of Economics, University of the Witwatersrand), Dr. Camaren Peter (Centre for Complex Systems in Transition, Stellenbosch University), Professor Mzukisi Qobo (member of South African research Chair programme on African Diplomacy and Foreign Policy, University of Johannesburg), Professor Mark Swilling (Centre for Complex Systems in Transition, Stellenbosch University), Hannah Friedenstein (independent journalist - pseudonym) Preface The State Capacity Research Project is an interdisciplinary, inter- that the individual confidential testimonies they were receiving from university research partnership that aims to contribute to the Church members matched and confirmed the arguments developed public debate about ‘state capture’ in South Africa. This issue has by the SCRP using largely publicly available information. This dominated public debate about the future of democratic governance triangulation of different bodies of evidence is of great significance. in South Africa ever since then Public Protector Thuli Madonsela published her report entitled State of Capture in late 2016.1 The The State Capacity Research Project is an academic research report officially documented the way in which President Zuma and partnership between leading researchers from four Universities senior government officials have colluded with a shadow network of and their respective research teams: Prof. Haroon Bhorat from the corrupt brokers. -
Investment Reviews Investing in Sectors That Have a Solid Track Record
The purpose behind Remgro’s investments is to ensure superior returns to shareholders by way of sustainable dividend and capital growth. INVESTMENT INVESTMENT REVIEWS INVESTING IN SECTORS THAT HAVE A SOLID TRACK RECORD BANKING HEALTHCARE CONSUMER PRODUCTS INSURANCE INDUSTRIAL INFRASTRUCTURE MEDIA AND SPORT OTHER INVESTMENTS 42 REPORTS TO SHAREHOLDERS | Investment reviews BANKING 29% CONTRIBUTION TO 30 June 2019 30 June 2018 HEADLINE EARNINGS R million R million BANKING 2019 RMH 2 644 2 486 FirstRand 1 093 1 039 71% 3 737 3 525 RMH FirstRand PROFILE RMH is the biggest shareholder in FirstRand Limited (FirstRand), South Africa’s 28.2% largest banking group, with a 34% stake. RMH is the founding shareholder of EFFECTIVE FirstRand and views this as its core asset. On a selective basis, RMH invests in INTEREST other banking and property businesses. CORPORATE INFORMATION FINANCIAL HIGHLIGHTS SUSTAINABILITY MEASURES Market cap at 30 June 2019 Year ended Refer to FirstRand as RMH is an R119 148 million 30 June 2019 investment holding company. R million % Listed on the JSE Limited Chief Executive Officer Headline earnings 9 390 6 H L Bosman Normalised Remgro nominated directors earnings 9 394 7 J J Durand, F Knoetze (alternate) Dividends Website declared per rmh-online.co.za share (cents) 376 7 RMB HOLDINGS LIMITED (RMH) RMH’s main asset is a fully diluted interest of 34% in FirstRand, and its performance is therefore primarily related to that of FirstRand. The RMH strategy also includes investments in the property sector with a long-term capital growth focus. RMH’s contribution to Remgro’s headline earnings for the year under review increased to R2 644 million (2018: R2 486 million) due to the good operational performance of FirstRand. -
Case Number: 14/2019
CASE NUMBER: 14/2019 DATE OF HEARING: 8 AUGUST 2019 JUDGMENT RELEASE DATE: 23 AUGUST 2019 eNCA APPELLANT vs STRYDOM AND TAYLOR RESPONDENT APPEAL TRIBUNAL: MR BRIAN MAKEKETA (DEPUTY CHAIRPERSON) MR TSHIDI SEANE MS NOKUBONGA FAKUDE FOR THE APPELLANT: Mr Ndivhuho Norman Munzhelele, General Head: Regulatory and Strategy accompanied by Mr Morapedi Pilane, assistant Compliance Officer FOR THE RESPONDENT: Adv Mark Oppenheimer instructed by Hurter Spies Attorneys accompanied by Mr Daniël Eloff: Attorney, Hurter Spies Attorneys and Mr Joost Strydom _____________________________________________________________________________________ The finding under adjudication No: 20A/2019 is confirmed. The appeal is not upheld. eNCA vs Strydom and Taylor, Case No: 14/2019 (BCCSA) _____________________________________________________________________________________ SUMMARY The Appellant was granted leave to appeal against the finding of the Commissioner under 1 adjudication number 20A/2019. The initial complaint was based on a news broadcast that was aired on the 17th of April 2019 at 19:30. The broadcast consisted of an interview between the Appellant and the Respondent where the Respondent was asked to address some concerns regarding alleged racism. There were allegedly perceptions that the Respondent is racist and that the Respondent’s unique communal structure, where only Afrikaner people or those who identify themselves as Afrikaner can live. The interview was colloquial, and the Respondent appeared to have been able to put forward its version. The dispute however arose when the news reader, after the interview, made remarks where he insisted that the Respondent is racist, and that Black people are only allowed in the Afrikaner community as domestics. After considering all submissions from the Appellant and the Respondent, the Appeal Tribunal has found that the Commissioner was justified in her findings and the Appeal is not upheld. -
Integrated Annual Report
eMedia Holdings | 2020 INTEGRATED ANNUAL REPORT ANNUAL eMedia Holdings | 2020 INTEGRATED 2020 INTEGRATED ANNUAL REPORT CONTENTS 2 Group at a glance 3 About this report 4 Who we are 19 5 Our companies 6 Financial highlights Corporate governance 8 Directors’ profile 20 Corporate governance report 10 Chief executive officer’s report 24 King lV application register 14 Operations report 29 Report of the audit and risk committee 15 Shareholder snapshot 31 Report of the remuneration committee 18 Directors’ interest in shares 33 Report of the social and ethics committee 34 Sustainability report 34 Environmental 36 Transformation 38 Human relations 39 Summarised annual financial results 40 Directors’ report 44 Declaration by the company secretary 45 Independent auditor’s report 46 Summarised consolidated financial results 52 Notes to the summarised consolidated results 59 Notice of annual general meeting 67 Form of proxy 68 Notes to form of proxy 69 Corporate information eMedia Holdings integrated annual report 2020 1 GROUP AT A GLANCE Ethical conduct, good corporate governance and risk governance are fundamental to the way that eMedia Holdings manages its business. Stakeholders’ interests are balanced against effective risk management and eMedia Holdings’ obligations to ensure ethical management and responsible control. 2 eMedia Holdings integrated annual report 2020 ABOUT THIS REPORT eMedia Holdings Limited (eMedia Holdings) presents this for the approval of these, which are then endorsed by the integrated annual report for the year ended 31 March 2020. board. All risks that are considered material to the business have This report aims to provide stakeholders with a comprehensive been included in this report. -
Annual Report June 2020
INTEGRATED ANNUAL REPORT 2020 Originally established in the 1940s by the late Dr Anton Rupert, REMGRO AIMS TO BE THE TRUSTED INVESTMENT COMPANY OF CHOICE THAT CONSISTENTLY CREATES SUSTAINABLE STAKEHOLDER VALUE. The hexagonal theme used in this year’s Integrated Annual Report draws inspiration from the hexagonal honeycomb structure that bees use to build one of the most effective and durable structures in nature. This shape represents the multi-dimensionality of our business and our people that work together in an organic way to bring forth prosperity to all our stakeholders. INVESTOR TOOLS Cross-reference to relevant sections Download from our website: View more information on our website: within this report www.remgro.com www.remgro.com Contents OVERVIEW OF REPORTS TO 01 BUSINESS 02 SHAREHOLDERS 3 Remgro’s approach to reporting 23 Chairman’s Report 6 Salient features 25 Chief Executive Officer’s Report 8 Group profile 30 Chief Financial Officer’s Report 10 Company history 38 Investment reviews 12 Our business model 14 Understanding the business of Remgro 16 Key objectives and principal integrated risks 18 Directorate and members of committees 20 Executive management structure 21 Shareholders’ diary and Company information GOVERNANCE AND FINANCIAL 03 SUSTAINABILITY 04 REPORT 65 Corporate Governance Report 116 Audit and Risk Committee Report 77 Risk and Opportunities Management Report 119 Report of the Board of Directors 84 Remuneration Report 125 Report of the Independent Auditor 103 Social and Ethics Committee Report 126 Summary financial statements 105 Abridged Sustainable Development Report ADDITIONAL 05 INFORMATION 142 Five-year review and share statistics 144 Shareholders’ information 147 Notice to shareholders Attached Form of proxy Integrated Annual Report 2020 1 OVERVIEW OF 01 BUSINESS REMGRO INVESTS IN BUSINESSES THAT CAN DELIVER SUPERIOR EARNINGS, CASH FLOW GENERATION AND DIVIDENDS OVER THE LONG TERM. -
South Africa: the Future of the Anc December 12, 2017
SOUTH AFRICA: THE FUTURE OF THE ANC DECEMBER 12, 2017 SUMMARY ABOUT ASG • From December 16 – 20, 2017, the African National Congress (ANC) will convene Albright Stonebridge Group its 54th National Conference in Johannesburg, South Africa to elect its leadership (ASG) is the premier global for the next five years. strategy and commercial diplomacy firm. We help clients understand and • South Africa-watchers are anxiously awaiting the outcome of this conference, successfully navigate the which will determine the future of the ANC and, by extension, the country. intersection of public, private, and social sectors in • There has been significant focus on who will succeed Jacob Zuma as party international markets. president and represent the face of the ANC in the lead up to South Africa’s 2019 ASG’s worldwide team has served clients in more than national election. The two current front-runners are Cyril Ramaphosa, current 110 countries. Deputy President of the ANC and the country, and Nkosazana Dlamini-Zuma, former Chairperson of the African Union Commission. ALBRIGHTSTONEBRIDGE.COM • Although Zuma’s term as President of South Africa does not end until 2019, some speculate he might face significant pressure to step down – regardless of who succeeds him – before the critical 2019 national election. OVERVIEW OF THE ANC NATIONAL CONFERENCE From December 16 - 20, 2017, South Africa’s ruling African National Congress (ANC) Party will convene its 54th National Conference to elect the next cohort of leadership. Although significant attention has been focused on who will succeed Jacob Zuma as President of the ANC, the over 5,000 voting conference delegates will also elect other key party leadership positions – including the National Executive Committee (NEC), which will in turn elect the National Working Committee (NWC). -
Die Eerste 40 Jaar Van Orania the First 40 Years of Orania
526 Die eerste 40 jaar van Orania The first 40 years of Orania BURGERT SENEKAL Navorsingsgenoot Eenheid vir Taalfasilitering en Bemagtiging Universiteit van die Vrystaat Suid-Afrika E-pos: [email protected] Burgert Senekal BURGERT SENEKAL is sedert 2008 verbonde aan BURGERT SENEKAL joined the University of the die Universiteit van die Vrystaat en is tans ’n Free State in 2008 and is currently a research navorsingsgenoot by die Eenheid vir Taalfasili- associate in the Unit for the Facilitation and tering en Bemagtiging. Ná hy sy PhD aan die Empowerment of Languages (“Eenheid vir Taal- Universiteit van die Vrystaat in 2013 verwerf, fasilitering en Bemagtiging”). After obtaining a ondersoek hy inligtingstegnologie, grootdata en PhD from the University of the Free State in die netwerkwetenskap met spesifieke toepassings 2013, he focused, in his research, on information binne die Afrikaner se leefwêreld, veral met ’n technology, big data and the network community, klem op die Afrikaanse literatuurstudie. As NNS- with particular reference to applicability within gegradeerde navorser het hy reeds meer as 60 the Afrikaner way of life, as this concerns espe- artikels en drie boeke gepubliseer. cially the study of Afrikaans literature. In his capacity as a NRF-rated researcher, he has already published more than 60 articles, as well as three books. ABSTRACT The first 40 years of Orania The town Orania is uniquely determined by the fact that it is almost exclusively inhabited by white Afrikaans speaking South African citizens – for the purposes of this article to be simply referred to as “Afrikaners”. The establishment of such an exclusive enclave represents a unique and controversial phenomenon in South Africa about which much has already been published. -
Orania and Azania
1 ORANIA AND AZANIA If Social Cohesion is not Right Then only Balkanization is Left By C O Stephens ORANIA AND AZANIA 2 ‘ Table of Contents PREAMBLE ........................................................................................................................................................... 5 PART 1: SOCIAL ALIENATION ............................................................................................................................... 9 1. The Good Ship Rainbow .............................................................................................................................. 9 Why do we treat one another this way? ....................................................................................................... 10 2. Reporting Consistently on Racism ............................................................................................................. 11 #StopRacism .................................................................................................................................................. 13 Case Study ..................................................................................................................................................... 14 3. No one is Perfect ....................................................................................................................................... 16 4. Identity Politics is our Default Drive .......................................................................................................... 19 5. Victims -
Global and Local Narratives of the South African General Elections
DESPERATELY SEEKING DEPTH: Global and local narratives of the South African general elections on television news, 1994 – 2014 By Bernadine Jones Town Cape Thesis presentedof for the Degree of DOCTOR OF PHILOSOPHY at the Centre for Film and Media Studies UNIVERSITY OF CAPE TOWN UniversityAugust 2017 1 The copyright of this thesis vests in the author. No quotation from it or information derived from it is to be published without full acknowledgement of the source. The thesis is to be used for private study or non- commercial research purposes only. Published by the University of Cape Town (UCT) in terms of the non-exclusive license granted to UCT by the author. University of Cape Town Declaration of own work and publications This thesis is my own work, conducted in Cape Town, South Africa between January 2014 and August 2017. I confirm that I have been granted permission by the University of Cape Town’s Doctoral Degrees Board to include the following publication(s) in my PhD thesis: Jones, B. 2016. Television news and the digital environment: a triadic multimodal approach for analysing moving image media, in African Journalism Studies 37(2): 116-137 2 Acknowledgements What respectable body of work would be complete without expressing ones gratitude to those who have helped carry the author – mind, soul, and sometimes body – through the wilderness of research and analysis? It stands to reason then that I convey my utmost appreciation for my two supervisors, Drs Martha Evans and Wallace Chuma, for guiding me along this path with infinite patience, wisdom, and maddening attention to detail without which I would flounder.