Inner City Gazette 27 Jan -10 Feb 2022

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Grade R -11 Metropolitan College 170 Pritchard Street Tel – 011 402 9502

Est 2009 Issue 02 - 2022

Tel : +27 76 531 8597 Inner-City Gazette

Email : info@inner-city-gazette.co.za @ICG_Sales

27 January - 10 February 2022

Website : www.inner-city-gazette.co.za 072 824 3014

Inner City Gazette

Policy reforms to enable entrepreneurs “In the new year the Start-up Act steering committee will be working on coalition building and making it easier for more people to get involved, to interact around matters that impact them.”

Start-up Act Steering Committee chairperson Matsi Modise

‘The policy changes aim to eliminate the red tape obstructing the growth of start-ups’

Johannesburg - The recently delivered Medium Term Budget Policy Statement has indicated that faster economic growth requires determined implementation of policy reforms to promote confidence, investment, competitiveness, entrepreneurship and job creation.

With this in mind, chairperson of the South African Start-up Act Steering Committee and vice chairperson of SiMODiSA, Matsi Modise, with Steering Committee members Tanya van Lill and Shelley Lotz of the Southern African Venture Capital and Private Equity Association (SAVCA), reflect on the policy changes over 2021 and what can be expected this year.

Lotz says 2021 saw two changes to the policy that had direct impact on the start-ups and other ecosystem role players. Those were relaxation of exchange controls for loop structures and the scrapping of Section 12J of the Income Tax Act. Lotz explains that the former impacts the ability of start-ups to raise capital offshore.

“Prior to the South African Reserve Bank issuing a circular at the beginning of the year, there was a prohibition on creating loop struc-

tures. Now, when a start-up wants to raise capital offshore, South African founders, as well as the current South African investors, can swap their shares out into the foreign holding company so that everybody owns shares in the same entity. While the dispensation allows for loop structures, it only does so under particular circumstances and with certain caveats. The dispensation also doesn’t allow start-ups to do this without having to jump through regulatory hoops and request permission from the South African Reserve Bank with the help of lawyers,” Lotz says.

Van Lill says the loop structure needs to be cash settled.

“Unfortunately most founders have their cash wrapped up in their businesses, so they don’t really have this on hand to be able to then pay for shares in the holding company.

While the amount they have to pay for shares depends on the amount of investment they receive, they could have to cough up about R50 million. Plus, when this happens, a tax event is triggered,” she adds.

In 2022 it is hoped that National Treasury and the South African Reserve Bank will consider these

challenges and implement further exchange control relaxations.

“We would also like to see Treasury provide rollover relief to startups which is the deferral of capital gains tax until a later stage when the entrepreneur actually gets some cash in,” Lotz adds.

On the discontinuation of Section 12J, van Lill says as this was a tax incentive to make investing in venture capital (VC) more attractive, this will make it more difficult for local VC fund managers to raise funds to invest in start-ups.

“However, one of the policy recommendations in the South African Start-up Act framework, which was made public earlier this year was for tax breaks and, or tax incentives to allow for more investment into the VC industry. It cites Section 12J as an example, urging policymakers to take the lessons learnt from what didn’t work, and to be narrower in the definition of the actual incentive while also re-introducing a version of Section 12J that will also benefit both National Treasury and the VC community,” Lotz says.

Modise says the recommendations on policy changes or government interventions covered by the Start-

up Act aim to eliminate the red tape obstructing the growth of start-ups.

“In the new year the South African Start-up Act steering committee will be working on coalition building and making it easier for more people to get involved, to have a voice, to interact and engage around matters that impact them. We will also be educating start-ups and the ecosystem about the regulatory issues they will encounter as they scale. Additionally, we will have more interactions with stakeholders and members of the public.”

Lotz says though policymakers seem to want to make the landscape easier for SMEs and start-ups, it often doesn’t necessarily translate directly into what comes through in the legislature.

“The Start-up Act is trying to highlight the factors that would make a big difference. There are a number of policy issues which are holding start-ups back from being able to create jobs and economic growth.

My hope is that in 2022 we will see changes to policy that will create a more enabling environment for the country’s start-ups.”

For more information visit the website www.startupact.co.za.

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Inner-city Gazette

News

27 January - 10 February 2022

‘Most dangerous malware’ is back Tech Reporter

Boston’s Bachelor

of

Boston City Campus (Boston) is pleased to announce that our Bachelor of Accounting degree is now SAICA-accredited (South African Institute of Chartered Accountants).

The achievement of this accreditation means that students who complete the Boston Bachelor of Accounting degree and who meet the entry requirements set by institutions offering the SAICA-accredited postgraduate qualifications in accounting can seamlessly continue their journey toward the attainment of the CA (SA) designation.

“CAs (SA) are seen as responsible leaders who create sustainable value for the organisations that they work in and there are a wide range of employment opportunities open to these professionals. Becoming a chartered accountant requires grit and determination, and students who enter our Bachelor of Accounting degree can be assured that our programme provides a solid foundation from which to embark on the challenging journey toward ultimately earning the sought-after CA (SA) designation.

SAICA’s strategic intention is to contribute to sustainable economies through developing responsible and ethical leaders. As such, it aims to ensure continued relevance and the growth and transformation of the accountancy profession. Through our Bachelor of Accounting qualification, we are proud to be associated with SAICA and the high standards of professionalism required by this globally recognised Institute” emphasizes Dr. Hendrik Botha, the Head of Institution at Boston City Campus.

Says Robert Zwane, SAICA Executive: Learning, Development and National Imperatives: ‘In its role in promoting quality assurance in accounting education, and in terms of its current recognition and standing with the Independent Regulatory Board for Auditors (IRBA), one of SAICA’s key roles is to accredit programmes which allows students access to SAICA’s first professional examination, the Initial Test of Competence (ITC). ‘For programmes to be accredited by SAICA, higher education providers undergo a rigorous and extensive process to ensure that their programme has the necessary resources in place to deliver a high quality programme leading to a

Accounting

achieves

CA(SA) qualification. These quality assurance processes are undertaken over and above the formal regulatory accreditation requirements of the DHET, CHE and SAQA which need to be in place before getting the SAICA stamp of approval. Having undergone the formal accreditation process, we are confident that the Boston degree is backed by the necessary resources to meet the standards set by SAICA.’ Boston is the first private provider of distance education to receive SAICA accreditation for the undergraduate degree.

Additionally, Boston is accredited locally and internationally for our higher education programmes, and have a longstanding reputation of excellence as a private higher education institution specialising in online and distance education. At Boston, we understand what is needed to put the student front and centre in the learning process. We appreciate the additional support that an online learner may require, and we have invested in human capital and technological infrastructure to ensure that no candidate is left behind. Our unique offering extends to include 47 learner support centres located countrywide, so there is a friendly face to welcome you to the Boston family and to assist with applications and registrations. Offering the SAICA-accredited Bachelor of Accounting qualification in the distance mode means that we’ve eliminated many obstacles preventing access to higher education—like the cost of travel and relocation to a physical campus or having to forego the opportunity cost of full- or part-time employment. Additionally, Boston offers a competitive fee structure and payment plans that include all required textbooks for the duration of the degree.

Boston’s commitment to widening access to a diverse group of students who do not qualify for direct entry into the Bachelor of

SAICA

accreditation

Accounting is seen in its alternative entry routes. Alternative routes include entry through recognition of prior learning and various relevant higher certificates, diplomas, and occupational qualifications. The accreditation by SAICA demonstrates our commitment to back our students in a challenging and competitive world where success is hard-earned and aligns with our quality approach to higher education. That approach focuses on transformative learning and emphasises the potential of each student, ensuring we support work-ready employable graduates.

Boston is able to extend access to its Bachelor of Accounting in a number of ways. Each application will be considered on its own merit, as follows: • School leavers and early career adults wishing to embark on the journey toward becoming a chartered accountant will find our degree a viable option either through direct entry or via alternative routes of access.

• We are able to accommodate students whose SAICA-accredited undergraduate degree has been interrupted for various reasons beyond their control, and who are wishing to complete a SAICA-accredited undergraduate degree in the distance/online mode can apply for advanced placement through credits already earned.

• Graduates who have completed qualifications in related disciplines and who now wish to convert by embarking on the journey toward becoming a professional accountant are welcome to apply for entry and/or advanced placement into the Bachelor of Accounting at Boston.

• Students who have completed professional occupational certificates or diplomas in accounting who now wish to continue on the journey toward becoming a chartered accountant are welcome to apply for entry and/or advanced placement into the Bachelor of Accounting at Boston.

To find out more visit one of Boston’s 47 support centres situated countrywide, call 011 551 9000, email info@boston.co.za or visit www.boston.ac.za for more

Tel: +27 76 531 8597 Fax: 086 609 8601

in 2022. Trickbot has always collaboWith samples rated with Emotet, of Emotet fastand is facilitating spreading via Emotet’s comeTrickbot, Check back by dropping it Point Research on infected victims.

(CPR) has warned This has allowed of potential ranEmotet to start somware attacks. from a very firm Emotet is a composition. In only puter malware protwo weeks Emotet gramme, originalbecame the sevly developed in the enth most popular form of a banking malware. Emotet is Trojan to access our best indicator devices and spy on for future ransomsensitive private ware attacks. We data. It is known to should treat Emotet deceive basic antiand Trickbot infecvirus programmes tions like they are and hide from ransomware. Oththem. Trickbot is erwise, it is only Intelligence head Lotem Finkelstein Trojan-type mala matter of time ware designed to before we have to steal users’ private data. In most cases deal with an actual ransomware atdevelopers proliferate it using spam tack,” Finkelstein says. emails, and also by using fake Adobe CPR sees samples of Emotet fastFlash Player updates. spreading through surges in TrickSince law enforcement took down bot activity. Once described as the Emotet, CPR estimates there have “world’s most dangerous malware”, been 140 000 victims of Trick- Emotet provides threat actors with a bot across 149 countries in only 10 backdoor into compromised machines, months. New Emotet samples spread- which could be leased out to ransoming through Trickbot were discovered ware gangs for their own campaigns. on 15 November 2021, a strong indi- Hence, Emotet’s return is a strong incator of future ransomware attacks, dicator of future ransomware attacks. as the malware provides ransomware At the beginning of the year internagangs a backdoor into compromised tional law enforcement action coordimachines. nated by Europol and Eurojust took Trickbot’s top industry targets are over the Emotet infrastructure and argovernment, finance and manufactur- rested two suspects. Ten months later ing, and it relies on a small number of Trickbot infected machines started to IP addresses for distribution. drop Emotet samples by promoting usThreat intelligence head at Check ers to download password protect zip Point Software, Lotem Finkelstein files, containing malicious documents says Emotet is the strongest botnet in that rebuild Emotet’s botnet network. the history of cybercrime.

Emotet has also upgraded, adding “Emotet has resold its infection base new tricks to its toolbox. Trickbot has to other threat actors to spread their a persistent rate of growth, with over malware; and most of the time, it’s 140 000 victims worldwide since the been to ransomware gangs. Emotet’s botnet takedown, including organisacomeback is a major warning for yet tions and individuals. It affected 149 another surge in ransomware attacks countries, more than 75% of the world.

27 January - 10 February 2022

Inner-city Gazette

Index to track global

Man dies in substation explosion

media’s Africa coverage

‘As they tried to steal the equipment the switches exploded and one suspect succumbed to his burns, while the other suffered serious burns’

Johannesburg - On Monday night a man was killed and another sustained burns after they allegedly broke into a City Power substation to steal infrastructure components.

City Power spokesperson Isaac Mangena said three men broke into a transformer substation in Hursthill and as they tried to steal the equipment the switches exploded and one suspect succumbed to his burns, while his alleged accomplice suffered serious burns and was taken to hospital.

“They were taken by paramedics after they were found after the explosion when they fiddled with the equipment in one of the transformers,” Mangena said.

City Power’s Isaac Mangena

He added that some areas in Hursthill, Claremont, Bosmont, Coronationville and surrounding areas were left without electricity on Tuesday morning, and technicians were repairing the supply system to restore the service.

Baby girl electrocuted Jeppestown - On Monday evening a baby girl was electrocuted at a house in Reimers Street, Jeppestown,.

Cleveland police spokesperson Captain Johan Jordaan said the child reportedly touched an electrical cord in the house and was shocked.

“The child was rushed to the Malvern fire station where she was declared dead by paramedics. Cleve-

land SAPS management send their condolences to the family, and also warn the community to ensure that their homes are always child safe.

This is a disaster and we encourage the community to look after children all times. We also warn the about illegal electrical connections.

We have lost many children in the past and this should not continue.

People must be aware of dangers of electricity at homes,” Jordaan said.

Man arrested for raping child

Johannesburg - On Monday police arrested a 30-year-old man in Thokoza on allegations of raping a 13year old-girl, according to police.

Joburg Central police spokesperson Captain Xoli Mbele said the man allegedly raped the girl three times.

“The first incident allegedly took place at the Dragon building at corner Rahima Moosa and Nugget streets in August 2020, the second at Eden Park West in November 2021 and the third in Turffontein in

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News

December 2021. The victim’s mother was initially scared to report the matter because the suspect threatened to kill her child if she revealed her ordeal,” Mbele said.

He added that investigation is under way.

Johannesburg Central station commander Brigadier Perumal commended the mother for eventually reporting the matter so that the victim can get assistance. He appealed to victims of rape never to be scared to raise the alarm.

Company

Registrations Pty and NPC/NPO Contact: 072 824 3014 schisale@gmail.com

Johannesburg - A Global Media Index that will track the way top global media outlets cover Africa is being developed by Africa No Filter, Media Monitoring Africa and the University of Cape Town, to be launched this year.

The group says a third of African stories in news outlets are sourced from foreign news services, and global media reports often criticised for viewing the continent through the lenses of disease, poverty, conflict, corruption and poor leadership, the need for such an index is important.

Africa No Filter director Moky Makura says few institutions are as powerful as the global news media.

“As storytellers to millions of audiences, the news media set agendas for policy-making, frame political debate and shape global public perceptions.

Global Media Index is part of our watchdog role and is designed to show what’s right rather than wrong with reporting on Africa. There is progress, and we have seen evidence that global news outlets have become more thoughtful about their coverage, but we are not entirely there, and our hope is for this index to shine a beacon on who is doing this right,” says Makura.

The Global Media Index is the latest project funded jointly by the New York-based The Africa Center and narrative change organisation Africa No Filter focused on media narratives of Africa.

The research will be led by Professor

in Media Studies at UCT’s Centre for Film and Media Studies, Herman Wasserman, working with associate professors Tanja Bosch, Wallace Chuma and Dr Meli Ncube, also from UCT, in collaboration with William Bird from Media Monitoring Africa.

Wasserman says the objective is not to promote uncritically positive ‘sunshine journalism’.

“Rather it is to showcase well-crafted, properly investigated, ethically sound and impactful journalism that takes Africa seriously in its diversity and complexity, empowers African citizens to participate in democratic participation and meaningful conversations about the continent, and contributes to a better understanding of African societies, politics and culture within a globalised world,” Wasserman says. The Africa Center CEO Uzodinma Iweala says the index is necessary and timely.

“If we are going to change narratives about the continent and its diaspora so that they are more representative and reflective, we must have a baseline understanding of what those narratives are and where they reside. This index will help to create a new qualitative and quantitative approach to understanding how journalists report on Africa and its people, in addition to where the messages they share are most resonant in the international media landscape,” Iweala says.

The project will draw on a range of methods, including content analysis,

Africa No Filter director Moky Makura

institutional analysis and interviews with journalists working for global media outlets. The aim is to establish the dominant themes, narratives and journalistic practices shaping the image of Africa.

The index will analyse 20 leading global media platforms on how they tell Africa’s stories, whose voices are being heard, which topics are prioritised and how they are covered. It will also highlight best practices in reporting on the continent.

The Global Media Index will complement a suite of initiatives under Africa No Filter’s disruption pillar, including Africa’s first news agency for human interest stories, bird, and the ethical storytelling handbook, How to Write About Africa in 8 Steps.

For more visit www.africanofilter.org.

Truck hijacking suspects shot dead Cleveland - On Tuesday this week two hijacking suspects were shot dead and another arrested in Whitworth Road, Heriotdale, according to police.

Cleveland police spokesperson Captain Johan Jordaan said armed men dressed in police and Metro police uniforms stopped a truck under the bridge.

“One of the men pulled the truck driver out of the truck, while at the same time the escort vehicle also stopped, blocked by a white Toyota Quantum minibus and a white Nissan Lavina.

Several suspects jumped out armed with pistols and an AR automatic rifle. The driver of the escort vehicle opened fire at the suspects, and they fled in different directions. Two white BMW vehicles with the suspects wear-

ing police uniforms immediately fled the scene. The escort driver shot two of the suspects, and they died close to the scene, while one was arrested. The other suspects managed to get away,” Jordaan said.

He added that four firearms, three 9mm pistols and one AR automatic rifle, as well as magazines loaded with live ammunition, were recovered at the scene and in the nearby mine dump.

“A cellphone and a radio jammer were also found in the Toyota Quantum. An inquest has been opened as well as a case of attempted truck hijacking, attempted murder and possession of unlicensed firearms and ammunition.

The case will be investigated by a provincial task team and hopefully more

arrests will follow. We are thankful for the quick response and that the truck and escort vehicle drivers were not injured,” Jordaan said.

Jordaan added that in another incident bodies of two men were found at corner Jules and Hereford streets in Malvern. “Both the deceased were found inside a vehicle with multiple bullet wounds to the chest and head. It was discovered that one man was a 29-year-old off duty police officer from Alexandra police station.

The other, a Malvern resident is also known. Their names cannot be provided until their next of kin have been informed. The motive for the murders is not yet known and investigation into the matter continues,” Jordaan said.

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Inner-city Gazette

27 January - 10 February 2022

Entrepreneurs to join incubator programme

Fetola CEO Catherine Wijnberg

Johannesburg - Sixty-five entrepreneurs will have an opportunity to join an 18-month innovative incubator programme that maximises the success of their businesses.

The Fetola Circular Economy Accelerator (CEA) says it aims to provide South African entrepreneurs looking to scale their businesses in the circular economy with access to mentoring and skills development.

Fetola CEO Catherine Wijnberg says the circular economy has an important role to play in South Africa’s economy.

“It is essential that entrepreneurs

in this sector are given the support they need to thrive. Our expertise lies in supporting entrepreneurs to build businesses that last,” she says.

The CEA initiative is tailored to meet the needs of start-ups and women-owned enterprises; and entrepreneurs can learn new skills and develop their products and service. They will also have access to unique investment, funding and mentoring opportunities.

“The CEA is different from other incubators; it’s professional, personal and practical. It maximises the success of your business, but

harnessing the experience of skill mentors and partnerships of a peer network,” Wijnberg says.

Entrepreneurs in the CEA will learn about the circular economy and gain the technical skills and sector knowledge to succeed; build a profitable business model by identifying gaps, managing costs and process re-engineering; practice marketing skills to increase sales and attract new clients; access new markets and attract finance by mastering investment readiness and overcome business challenges with support from experienced mentors

and leadership. Participants will be paired with an accountability partner and connected with a network of peers to learn from one another.

Wijnberg adds that the programme is ideal for entrepreneurs who are determined to improve their success rates.

“It’s for businesses in the circular economy or making a positive impact on the environment by designing out waste and pollution,” she says.

Applications are open up to 16 February 2022. For more information email cea@fetola.co.za.

Covid-19 infections drop in Africa - health organisation “As the virus continues to circulate, further pandemic waves are inevitable. Africa should broaden vaccinations and also gain increased access to critical Covid-19 therapeutics to save lives.”

WHO director Dr Matshidiso Moeti

Johannesburg - The World Health Organisation (WHO) has announced that cases of Covid-19 have dropped in Africa, and deaths are declining for the first time since the Omicron-dominated fourth wave reached its peak.

The WHO African regional office has announced that newly reported cases fell by 20 percent in the week to last Sunday, while notified deaths dropped by eight percent.

In a statement issued after a weekly press briefing, the office also said South Africa, where the Omicron variant was first detected, has seen cases trending downward over the past four weeks.

Only North Africa reported an increase in cases last week, with a 55 percent spike, it said.

WHO’s regional director for Africa Dr Matshidiso Moeti however warned that the continent has yet to turn the tables on this pandemic.

“So long as the virus continues to circulate, further pandemic waves are inevitable.

Africa should not only broaden vaccinations, but also gain increased and equitable access to critical Covid-19 therapeutics to save lives and effectively combat this pandemic,” Dr Moeti said.

Only 10 percent of the African population are fully vaccinated, according to the WHO statement.

The continent, with a population of 1.2 billion, has been relatively unscathed by the pandemic, reporting 234 913 deaths from 10.5 million cases, according to AFP tallies. AFP

An EMS worker displays a poster during the protest

Paramedics protest against attacks Johannesburg - Following a robbery incident at Reiger Park, Gauteng Emergency Medical Services workers recently marched against attacks on paramedics by criminals, pleading with the public to report those who target EMS personnel to the police.

The paramedics were held at gunpoint by three men while responding to an emergency call.

An emergency officer based at OR Tambo Memorial Hospital in Ekurhuleni, Kekeletso Lesesa said she and her partner were robbed of their cellphones, wallets and the ambulance keys by three gunmen, soon after they arrived to attend to a woman who was in labour.

Lesesa said she no longer felt safe, though she loves the job.

“Community members heard our screams but none came to our rescue, it was traumatising. We plead with the community to try by all means to work with us. At the end of the day, when we are dispatched to a call, we go out for you, we go out to help you, we go out to help your loved ones,” she said.

The EMS workers called on the

Reiger Park community to report criminals who attack ambulance crews to the police, and work with authorities to ensure those who work to save their lives feel safe.

Health MEC Nomathemba Mokgethi commended Lesesa and her partner for delivering the baby, and condemned the attacks.

Meanwhile on Friday a vaccination team was robbed by five gunmen in Soshanguve, Pretoria. The criminals reportedly took gadgets that included two tablets and five cellphones belonging to the team.

Gauteng Health spokesperson Kwara Kekana said the attacks on vaccination teams, who are taking the programme to the community, put the lives of health workers in danger, and have a negative impact on the vaccination programme.

“The matter has been reported to the police, fortunately none of the team members were harmed and counselling will be provided to the affected staff,” Kekana said.

In December last year a mobile vaccination team was also robbed at gunpoint at the Wonder City taxi rank in Soshanguve, she added..

27 January - 10 February 2022

Inner-city Gazette

5

News

Key to unlock

SME funding

Clover workers march in the Joburg CBD

Pic: Masego Mafata

Company seeks interdict against striking workers Johannesburg - Dairy producer Clover has approached the labour court seeking an interdict to end its workers’ strike that has taken over two months.

The company said it seeks an interdict to declare the strike unprotected and restrain the striking workers from intimidation, harassment and picketing outside group CEO Johann Vorster’s home.

“We also asked for an order for the general secretaries of the two unions to denounce violence and intimidation of non-striking workers,” the company said.

About 5 000 workers seek to force Clover to reverse retrenchments and docking of salaries.

In the ninth week of the strike last Tuesday the workers marched through the Joburg CBD calling for a boycott of Clover products in protest against restructuring and loss of jobs. The workers, mostly members of the Food and Allied Workers’ Union (FAWU) and the General Industrial Workers Union of South Africa (GIWUSA), went into shops and removed Clover products from the shelves, leaving them in shopping trolleys.

The workers demanded that the company stops retrenchments and reinstate all workers. They also demanded the company to be independent of Israeli company Central

Bottling Company (CBC) which owns Clover through the Milco SA consortium.

The previous week the workers had secured an agreement with Clover at the Commission for Conciliation, Mediation and Arbitration (CCMA), that overdue bonuses be paid by 14 January, but they said they had not received the full amount.

At Shoprite in Marshalltown they filled trolleys with Clover products, leaving Boycott Clover Products pamphlets in some of the trolleys, and handed out pamphlets to shoppers and onlookers in the streets.

The company said 850 workers were retrenched in a restructuring process, and 750 after refusing to accept alternatives.

“We offered a cash equivalent of six months’ difference pay for employees to adjust to the new salary levels or seek alternative employment, which we considered more than fair. There were also 100 involuntary retrenchments due to operational requirements, and some employees accepted voluntary retrenchment or were close to retirement. We have completed the restructuring process,” Clover said.

The company, which received approval to merge with Israeli based Milco in 2019, rejected claims that it reneged on merger conditions.

“The closure of some factories was approved by the Competition Commission in 2019 as this was necessary long before Milco became a shareholder.”

Clover says it is creating Africa’s first dairy industrial park to build sustainability.

“This will require consolidating some factories. This was explained to the Competition Commission and unions. It is unclear why this issue, dealt with many years ago, would be brought now when there is a wage dispute,” said Clover.

Clover also said the workers’ bonuses were paid, and amounts differed.

“All the 13th cheques were processed correctly and paid out, with relevant deductions, which included deducting the days that were not worked in November during the strike, as it is currently nowork-no-pay,” said Clover.

Johannesburg -Entrepreneurs can register businesses and get bank accounts activated, developing a financial footprint that enables financial institutions to assess the health of a business for funding purposes, co-head SME at FNB Andiswa Bata says.

She says sound financial management minimises risks and enables SMEs access to finance and credit, an enabler for their growth in the country. Lending activities and requirements have to adhere to the country’s regulations on lending, and banks comply with the laws.

“A common requirement that puzzled many was whether they were in good financial standing prior to the pandemic or not,” says Bata.

She says when determining a lending decision banks consider good standing, how the business has been managing its financial admin, whether it has been keeping up with its payments and avoiding arrears.

“It is also important to ensure the business maintains its CIPC-compliance and that any records and submissions are up to date. Businesses are encouraged to check their credit bureau information regularly and maintain a healthy personal and business credit record.”

Liquidity ratio determines whether an SME can efficiently use its assets to meet its obligations. Profitabil-

Co-head SME at FNB Andiswa Bata

ity considers the extent of profit the business can generate from its sales or services, considering operating costs, assets spend and tax, among other factors. Healthier profit margins indicate operational efficiency and competitive advantage.

Debt capacity assesses the free cash flow available to honour long-term debt. Security or collateral, e.g. a property or personal suretyship, can support the funding application.

Also important is the business’ growth prospects. Limited growth potential or no viable business plan can indicate that funding would solely be used to fund losses, for which there is limited lending appetite.

“This makes it essential for SMEs to understand financial management and keep accurate records. There are plenty resources to guide them through this journey,” Bata adds.

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Inner-city Gazette

27 January - 10 February 2022

27 January - 10 February 2022

Inner-city Gazette

Creatives programme selects candidates Johannesburg - Creativity platform Design Indaba’s Emerging Creatives programme has named 40 youngsters who will participate in the local creative developmental project.

The platform, which received more than 380 entries this year, is designed to hone talent and provide participants with strategies to take their work to the next level.

Over the years, the Design Indaba Emerging Creatives platform has launched careers of a number of gifted creatives, including Mpho Vackier, Russell Abrahams, Daniel Ting Chong and Crystal Birch.

Design Indaba founder Ravi Naidoo said: “We continue our annual support for young creatives in a pandemic environment. We are grateful to our partner, the Department of Sport, Arts and Culture (DSAC) for its commitment to stand with the rising stars.”

The Class of 2022 was selected by curators Lukhanyo Mdingi and Ditiro Mashigo, both well-known fashion designers, also former emerging creatives themselves.

Design Indaba founder Ravi Naidoo

Sifting through submissions Mashigo had to seek out innovation in design-led problem-solving and

an honest point of view from South African emerging design talents on issues of climate change, socio economics and equality.

Dr Stella Khumalo of the Department of Sport, Arts and Culture congratulated those who came through the selection process.

“We look forward to seeing the Class of 2022’s contribution. The Covid-19 pandemic has shown us that creative thinking is not a luxury but survival skill, so nurturing creative talent is vital. We are proud to partner with the Design Indaba to invest in the future of South Africa’s creative industries,” she said.

The young designers will be introduced to the public via a virtual exhibition and Design Indaba’s social media channels. They will also benefit from masterclass sessions with international and local experts like UK-based Artsthread, documentary video sessions and dedicated personal profiles on www.designindaba.com.

For more information visit the website www.designindaba.com.

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The Arts

The fund encourages poets and poetry platforms to apply for their events of digital and physical nature, covering part of the participation fee or related travel expenses of South African poets who have been invited to participate in international or inter-provincial literary platforms.

Hear My Voice director Ishmael Sibiya

Poetry export fund relaunches Arts Correspondent

F

A performance by the Steelcrest Choral Verse group

ollowing the success of the previous Mobility Fund, which was initially introduced in 2020 to encourage the export of South African poets to the world, the Hear My Voice NPO has relaunched the fund.

The fund says it enables international and interprovincial travel for poets. This year the Mobility Fund enables international travel, and poets and poetry platforms can also apply to get support for interprovincial travel.

The fund will contribute towards poets’ mobility costs to the maximum of R10 000. In the instance of digital mobility, the fund will either match or contribute towards the poets’ performance fee.

The fund encourages poets and poetry platforms to apply for their events of digital and physical nature, covering part of the participation fee or related travel expenses of South African poets who have been invited to partici-

pate in international or inter-provincial literary platforms.

Since inception in 2016, the Pretoria based NPO has supported hundreds of spoken word artists through organising local and international exchange programmes, workshops, live shows and literature programmes for schools, private companies, government, libraries, festivals and other cultural institutions.

Hear My Voice director Ishmael Sibiya said they contribute to build a viable and vibrant South African poetry circuit.

“The aim is to open four rounds of applications this year to support poets, not only for one season, but throughout the year,” Sibiya said.

For more information visit the site www.hearmyvoice.co.za/submissions.

Applications are open year-round but will be assessed a maximum of three times a quarter per this schedule, up to March 2022; April to June 2022; July to September and October to December 2022.

Call for young performer awards entries Di Sparks

C

elebrating its 25th anniversary, the National Eisteddfod Academy NPC, a non-profit organisation for youth development in arts calls for entries for the 19th NEA Young Performer Awards competition.

The contest is open to amateur performers in music, dance and drama that have excelled in any eisteddfod or similar events in 2021. It is presented over four rounds, from 1 March and ending in May when gold, silver, bronze medals and cash prizes will be awarded to winning performers.

To facilitate Covid-19 pandemic challenges participation and adjudication in the first and second rounds

will allow for both live and video recorded performances. To even the playing field in the adjudication and ranking of live and video performances, each will be ranked separately in the first and second rounds.

The final quarter-final ranking will then comprise the top achievers from both groups.

To qualify for entry applicants should have received a diploma award in the 2021 National Eisteddfod of South Africa or a similar award in any other eisteddfod or competition in the same period.

To aid performers who did not participate in any 2021 eisteddfod and therefore do not qualify to enter, the NEA has introduced a new preliminary qualifying round for them by

means of video-recorded submission.

A member of the 2021 adjudicators panel Dr Tiffany Higgo says: “The NEA provides an amazing platform for participants to develop their performing skills, while nurturing love of the arts. It’s a fantastic stepping stone for the youth to develop talent, confidence, teamwork and communication skills.”

The final closing date for entries and submission of video recording, where applicable, is 18 March. Earlier dates apply to live performance entries.

For more information visit www.eisteddfod.co.za or contact the NEA Office on 011 886 6005; Email admin@eisteddfod.co.za.

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Veteran coach lauds Compact Cup tourney Sports Reporter The DStv Compact Cup tournament, which was formed by collaboration between the PSL and DStv, has seen 16 top-flight teams get together and form four teams from different regions.

The tournament kicked off last weekend, with Coastal United beating Dinaledi FC and booking a spot in the final match, while in the second semi-final the Warriors beat Amabutho.

The DStv Compact Cup final will take place at the FNB stadium on 29 January.

Veteran former Orlando Pirates coach Augusto Palacios said the tournament gives players an opportunity to keep match fitness, and young players an opportunity to play with professional players.

“This provides good motivation for the young players, and maybe next time we can consider including three young players. This shows that PSL players are hungry to return to play.

It is also good that spectators were back, and I think more soccer fans need to come as it is a good motivation for the players,” Palacios said.

He added that the tournament also gives an opportunity to young coaches to experiment how it is to be in charge of the team.

“I think it has objectives that include giving match fitness to the players who the supporters select.

We are very happy the crowd is back and hope it increases. As for the young players, it shows which province is hungrier to play. It was also something for soccer fans to watch local football on TV, it felt good after a long time,” he said.

Team captains Makhehlene Makhaula, Happy Jele, Thabo Nodada and Sello Motsepe during the launch of the tournament