NBXNOW.BUSINESSXPOSURE.CO.ZA
Digital Magazine
20TH EDITION – JUNE 2019
ENTREPRENEURSHIP. LEADERSHIP. BUSINESS
TECH NEWS WHAT’S NEXT FOR THE CLOUD?
CAREER ADVICE TRAITS OF SUCCESSFUL PEOPLE
LEGAL TALK DEBT HELP FOR YOUR COMPANY
CONVERSATION WITH
MNCANE MTHUNZI CHIEF OPERATING OFFICER, EDCON GROUP
7
YOUNG AFRICAN
ENTREPRENEURS
MAKING IT IN AFRICA
10 COMMUNICATION SECRETS OF GREAT LEADERS
FACEBOOK ANNOUNCED THE LAUNCH OF IT’S CRYPTOCURRENCY, LIBRA, IN 2020
PUBLISHING CREDITS CHIEF EDITOR Benito Mamaile editor@businessxposure.co.za EXPERT CONTRIBUTORS Dr. Travis Bradberry Morgen Moyo Isaac Ndhlebe Jimmy Msibi Malethola Matube Jacques Loots Elena Agaragimova
Mncane Mthunzi COO, Edcon Group
COVER INTERVIEW
PICTURES Aviwe Midia Cover Photo Credit: Mncane Mthunzi
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DESIGNERS Intellectual Media and Communications LEGAL Loots Attorneys ACCOUNTS Istora Rapule accounts@businessxposure.co.za DISTRIBUTION Intellectual Media and Communications (Pty) Ltd PUBLISHED BY Intellectual Media and Communications (Pty) Ltd 81 Cassandra Avenue Bedworth Park 1939 Office Hotline
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Cover Interview: Mncane Mthunzi, COO Edcon Group
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Business Focus: Facebook Announced The Launch of It’s Cryptocurrency, Libra, In 2020
15 - 17
Profile My Business: Connect to Top-Rated Businesses 18 Book Reviews: Editors’ Choice for Best Business Books 29
Career & Life: Traits of Successful People
12
Money Matters: Plan Everything, Spend and Invest Wisely
19 & 20
Mind Mapping: 10 Communication Secrets of Great Leaders 25 Legal Advice: Debt Help For Your Company
10 COMMUNICATION SECRETS OF GREAT LEADERS
27 & 28
Disclaimer:
National Business Xposure and Intellectual Media and Communications considers its sources reliable and verifies as much data as possible. National Business Xposure (EAN 0 606110 895835). However, inaccuracies can occur, consequently readers using this information do so at their own risks. National Business Xposure does not accept responsibility for omissions or errors. the points of view expressed in articles by attributing writers and/or in advertisements included in this magazine do not necessarily represent those of the publisher. Any resemblance to real persons, living or dead is purely coincidental. Whilst every effort is made to ensure the accuracy of the information contained within this magazine, no legal responsibility will be accepted by the publishers for loss arising from use of this information published. All rights reserved. No part of this publication may be reproduced or stored in a retrievable system in any form or by any means without the prior written consent of the publisher.
CONTRIBUTORS
BENITO MAMAILE CEO & Business Development, Intellectual Media and Communications Platform Architect & Chief Editor, National Business Xposure South Africa
JACQUES LOOTS Admitted Attorney & CEO Loots Attorneys South Africa
MORGEN MOYO Founder My Success Hub South Africa
MALETHOLA MATUBE Founder Progressive Women In Golf South Africa
ELENA AGARAGIMOVA Talent Development & CEO Agar Consultancy United Arab Emirates, Dubai
JIMMY MSIBI CEO, SHERQ Specialist Masweja SHERQ Management South Africa
DR. TRAVIS BRADBERRY Coauthor of Emotional Intelligence 2.0 President at TalentSmart United States of America
ISAAC NDHLEBE CEO, Training Assessor & Coach IN Solutions South Africa
EDITOR’S NOTE ENTREPRENEURSHIP IS HAVING A TRANSFORMATIVE EFFECT ACROSS THE CONTINENT On this 20th edition, the conversation is led by a leader in a corporate world, Mncane Mthunzi, Chief Operating Officer of Edcon Group. The leader that does more than inspire revolution, he initiates it. He's known for being committed change agent; an effective business leader and a courageous advocate for transformation with enormous personal energy. In recognising excellence, this is the best time in history to be young and African. We live in an era characterised by an abundance of opportunities and young people starting sustainable businesses across the continent.
BENITO MAMAILE
The conversation about Africa is gradually shifting from that of poverty to one about creativity, business, and investment. “Entrepreneurship is having a transformative effect across the continent as more and more young people are starting their own businesses rather than waiting to be employed by someone,” notes Marcello Schermer, Regional Manager for Africa at Seedstars World, a global startup competition. “Many governments, corporates, investors and ecosystem builders have understood that, which is why you’re seeing co-working spaces, accelerators and all kinds of startup programmes pip up everywhere from South Africa to Nigeria, Morocco to Mali, to Ethiopia and Mozambique, and anywhere in between.” Countries like South Africa, Côte d’Ivoire, the Democratic Republic of Congo, Tanzania, Ethiopia, and many others have taken centre stage as some of the fastest growing economies in the world. Contributing to the continent’s economic growth is a vastly growing number of hungry young entrepreneurs doing wonders across various sectors. Let’s get to know some of them in this edition. We’ll continue bring you more on the next coming editions. Enjoy the read.
Benito Mamaile Chief Editor Email benito@businessxposure.co.za
nbxnow.businessxposure.co.za
Benito Mamaile
MORE ARTICLES
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. – Andile Nomlala, Current President, BMF
CONVERSATION WITH MNCANE MTHUNZI By Benito Mamaile
Mncane Mthunzi I am fascinated by Commerce, I like fixing ailing companies and propelling successful ones to greater heights.
, Chief Operating Officer of Edcon Group, he's known for being committed change agent; an effective business leader and a courageous advocate for transformation with enormous personal energy. His most recent role was as Commercial Director at Massbuild (division of Massmart) and a Member of its Executive Committee. He was also Supplier Development Executive at Massmart for over three years before joining the Massbuild Board. In addition, he was the CEO of the Consumer Goods Council of South Africa (CGCSA). He is also the Immediate Past President of the Black Management Forum (BMF). Prior to joining the BMF he worked for Microsoft as an Enterprise Strategy Consultant and later in a Sales Executive role within Microsoft. He was also a Senior Manager at PricewaterhouseCoopers. He started his career at Accenture, where he worked in a number of industries both locally and internationally handling large-scale systems integrations and business solutions for a number of clients. Mncane is a PhD Candidate (Wits), and holds an M.Com in Leadership Studies (UKZN) as well as a PMD (GIBS), EDP (GIBS) and AMP (Harvard).
Benito Mamaile: It is with great pleasure to feature you our ever growing digital magazine, I’m just going to get right into it; Can Mr. Mthunzi please share with us about your upbringing and your early years in life? Mncane Mthunzi: I was born and bred in Sebokeng and had a normal upbringing of Kasi. I used to read a lot as a youngster, I guess that made me a nerd, I devoured almost all the books in Zone 13 library. I also took life seriously and kept touch in politics and social matters. BM: What was your journey like to get where you are? MM: It was full of its own challenges but was enjoyable and rewarding. I just never got to do easy things in life. I guess I thrive when tackling tough roles and responsibilities. But all those experiences shaped me to the person that I am today. Mncane Mthunzi
BM: Tell us more about what you have studied for and the experience you’ve accomplished as a result. MM: I have studied for a thriving life and leadership, I guess. I am fascinated by Commerce, I like fixing ailing companies and propelling successful ones to greater heights. I like big corporations with massive complexities, huge structures and sophisticated processes. I have a MCom in Leadership Studies, qualifications from GIBS, Harvard Business School and currently a PhD Candidate with Wits Business School. BM: Do you perhaps have someone whose been an influencer in your early years?
MM: The late Lot Ndlovu BM: How old were you when you had your first paying job?
MM: About 20 years, I was a casual Salesman at Edgars while I was still a student. BM: Can you please share with our readers of your prior successes, challenges, and major responsibilities?
MM: I think discipline and diligence were key in anchoring my achievements throughout my personal life and career. I hit my milestones early in life and become a manager and director at a young age. I think working for Multinationals made be mature faster and incorporate global perspective in my outlook. The biggest challenges was to prove myself all the time throughout my career, it comes with being a Black Professional. I think managing people and taking decisions that changes their lives is among my major responsibilities. BM: Congratulations Mr. Mthunzi on your role of Chief Operating Officer with Edcon Group, what does this role signify in your career?
MM: Thanks, it is probably a recognition of my abilities and talents, but the proof will be in how we become successful as a collective leadership of the Business. BM: If I can take a guess, I’d say you surprised many observers by taking up this position with such a demanding responsibility, why this change and what does this role entail?
MM: Most people see it as risky, but I take it as a challenge. It is about fixing the ailing company and getting people to do their jobs.
President of South Africa: Cyril Ramaphosa with Mncane Mthunzi
BM: If I were to call three people who have worked with you, how would they describe you? MM: Inspiring leader. Disciplined. Hard working! BM: More on encroaching issues, South Africa was woken from its deep slumber by the “Fees Must Fall” protests. What lessons can today students learn from the student movements of the past? What can society also learn from these young people? MM: I think these students have taken leadership and resolved one of the biggest stumbling block to the progress of young people. Its us who need to learn from them. BM: The current trade wars have the potential to adversely impact the world economy. How do you think South Africa and other emerging markets will be affected? MM: It is unfortunate that we will be impacted by these senseless trade wars. However, we need more trained economists as our bureaucrats to help our economy to recover faster from the challenges that we may be encountered. BM: Do you think male leaders are equipped to support and empower women in the workplace? MM: Yes. But most choose not to or they are just part of the problem. BM: There is currently a call for the expropriation of land without compensation. How do you personally and as leader see the call? MM: The status quo is unsustainable and just a tipping time bomb. It has to happen but orderly and within the ambits of the law.
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BM: In a growing and competitive corporate ecosystem, and demand for performance on a young employee, what strategies do you think can be employed in helping a young employee be mentored towards ascending the ranks? MM: We need to help young people to do things the old fashion way by being disciplined; focused and hard working. Then the results will follow. BM: What has been your greatest career disappointment? What did you learn from it?
MM: Being overlooked for a promotion. Learned to redouble my efforts and give flawless performance to achieve milestones and success. BM: Will you kindly tell our readers something that's true, that almost nobody agrees with you on?
BM: Can you name a person who has had a tremendous impact on you as a leader? Maybe someone who has been a mentor to you? Why and how did this person impact your life? MM: Lot Ndlovu, he shaped me into a critical thinker and strong leader. The greatest gift he gave me was his time. BM: How important is money and status to you, would you trade those off with happiness, a balanced life, job satisfaction and fulfillment and a sense of purpose? MM: No, I will not. Money is important but the greatest achievements in life don’t require it. BM: What are a few resources you would recommend to someone looking to gain insight into becoming a better leader?
MM: Summiting Mt Kilimanjaro
MM: Surround yourself with quality people and satisfy your curiosity!
BM: Can you tell us about a time when you almost gave up, how you felt about that, and what you did instead of giving up?
BM: It is often said that great Leaders inspire action – Why is inspiring and connecting emotionally with your people so important?
MM: The complexity of studying Masters with other responsibilities. And finding it difficult to accept some of the unreasonable changes from the Supervisor!
MM: People work for people. The biggest role that we all have is to make our bosses look good. This happens with much ease if there is connectivity and inspiring leadership.
BM: When faced with two great opportunities, how do you decide which one to go with? MM: I just follow my gut, and there is that good feeling if the decision was correct. 20TH EDITION – JUNE 2019
Mncane Mthunzi
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“ The corporate culture has to be reflective of the broader society dynamics. Success has to be comprehensive and that means it must include succeeding home and in communities. ” – Mncane Mthunzi, Chief Operating Officer, Edcon Group
BM: How has the spread of new technologies like the Internet, smartphones, and social media changed the landscape for leaders? MM: It has changed for the better. Decisions can now be made easier and anytime due to connectivity. BM: How will you as a leader create a corporate culture and environment, advocating and encouraging dialogue amongst young leaders with the heightened awareness that in as much careers are important, young leaders starting off in the careers should integrate and balance work commitments, make time for themselves and their families?
MM: The corporate culture has to be reflective of the broader society dynamics. Success has to be comprehensive and that means it must include succeeding home and in communities. BM: What awards have you received in your career, what did they mean to you?
MM: Golden Key International Honorary stands out! BM: On your tenure as a President of Black Management Forum, can you tell us more about your accomplishments and the role you have played in South Africa? MM: One of the biggest milestones was to persuade the JSE to put TRANSFORMATION as part of the listing requirements. Disclosure of race and gender is part of the requirements. We also gave the BMF a voice to be considered before major decisions are made in Boardrooms. We were widely consulted
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20TH EDITION – JUNE 2019
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BM: With what is known as public news in regards to major organisations in South Africa where there are “accounting irregularities “. What is the role of a COO in creating a trusted and ethical source of information for investors, shareholders and stakeholders? MM: Chief Operating Officers are the second in charge in companies. It’s essentially co-steering with the CEO. BM: How important is the land question for economic growth and social stability in South Africa?
MM: It has to happen but orderly and within the ambits of the law. BM: If you were to advise the President, what would be the key priorities you would recommend for dealing with poverty, unemployment and under development?
MM: I think we need people with fresh ideas and track record to deal with the challenges mentioned. Manufacturing and Agriculture is crucial is stimulating massemployment of our people with limited education and experience. BM: How do you manage to keep the balance in your marriage, family, work and your leadership work? MM: There is no formula around it. I keep focused and present to the space that I am in. Being around seems to have worked for me. I drop off my kids every morning to school and make time to vacations.
BM: In one word, how would you describe yourself? MM: Versatile. BM: When it's all over, how do you want to be remembered?
MM: As someone who made a difference and added value in everything that I have involved in. Mr. Mthunzi, on behalf of National Business Xposure, I’d like to say: Thank you very much for taking the time chatting to us and connect with our readers all across the globe. We really appreciate the opportunity.
Catch an digital version of the interview on newly launched interactive platform. NBX Now is a fully digital platform for entrepreneurs, which seeks to incite entrepreneurs through the publication of core entrepreneurial content in the form of NBX Digital Magazine, NBX TV and NBX Radio.
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Elena Agaragimova, Career/Performance Consultant United Arab Emirates, Dubai
Traits of SUCCESSFUL People Have you ever wondered, why some people are naturally more successful than others? Why is it that some people make it and achieve their goals while others fall behind? Few say that those that are more successful in life is because they got lucky. However, is it really luck or hard work? Maybe, something else? On the other hand, others say that these people are just born with natural talent, which makes them overachievers. There might some truth in it and if you do not fall in either of those categories that does not mean that you cannot be successful in life. It also matters how you define success. Nonetheless, when looking at successful people in life, there are definitely some trends and personality traits that one can take notice in. 1. OPTIMISM One of the common traits that you will find among all of the highly successful people is that they are extremely optimistic. Being optimistic doesn't mean that you will achieve success without any efforts. It means that you can look at everything including the challenges thrown at you, as an opportunity. Being positive about a situation can go a long way. It is easy to let your mind run off course once the negativity sets in and your brain is blocked from seeing solutions. Being positive does not mean being unrealistic, but it is important to keep a positive mindset in all that you do, simply because being negative does not add value. Optimism allows you the ability to broaden the horizon of your knowledge and take failure as a step forward to success. 2. PERSISTENCE Another trait you often will find in successful people is persistence. People who normally succeed in life have an idea about something and go for it with full power. They never take no for an answer and always find a way to get things done. They adjust as many times as necessary to reach their goals. They are flexible in their approach for business and life because they know nothing is certain. Even if the odds are against them, they will find a way. Never giving up and persisting with the end goal in mind is something that pushes successful people to achieve their aspirations.
3. BELIEF If you want the world to believe in you -- you must first believe in yourself. You must believe that what you are doing is right and only then you can make others believe in your vision. 20TH EDITION – JUNE 2019
You need to live and breathe your beliefs and values. That is being authentic. Successful people believe that they can change the way the world is perceived and that they have the ability to make things happen. Successful people learn to recognize and create opportunities. They do not wait for someone to recognize talent in them, they know their value proposition and they move head on with their visions. 4. CONSEQUENCES Every action has its own reaction. Successful people are not afraid to take responsibility for their own actions. They are not afraid to admit their mistakes and learn from them. They are ready to take the chance, regardless of what the outcome will be. Keeping a flexible mindset allows you to free yourself of any unwanted doubt, trouble, and allows you to focus on your goals. When things do not go right, successful people adjust, reset, learn from the speed-bumps, and try again. They are not afraid to ask for help when needed because they understand that no one can do it alone. Finally, they don't play victim. They know the world is not a fair place. They take their careers, businesses, and lives into their own hands and claim 100% responsibility for the outcomes. They know that they have the power to create their own realities. If you ever wondered why you are not reaching your goals and aspirations, the above might be a few good starting points to consider. Are you practicing these? What can you do better? What can you do more of?
Elena Agaragimova
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7
YOUND AFRICAN ENTREPRENEURS MAKING IT IN AFRICA
The past few years have seen a rise in the number of entrepreneurs in Africa. Bold and fearlessly ambitious, these are some of the business leaders who shape the future of the continent and inspire not only countless other men and women, but also anyone who dares to dream.
Moza Moyo is based in Johannesburg and is passionate about telling news stories that change the African narrative. His writing touches on an array of issues and topics, including human interest, business, race, and culture. By Moza Moyo, Africa.com
Olatorera Oniru - Nigeria Olatorera Oniru is fast becoming one of the prominent names in Nigeria’s booming ecommerce sector. The 29-year-old is the founder of Dressmeoutlet.com, a Lagosbased online fashion retailer. Equipped with a Bachelor of Science degree in Business Administration and Management, and a Master’s in Business Administration, Olatorera has worked for a series of top global companies including Ericsson, Bank of America Merrill Lynch and General Electric. Motivated by the endless opportunities in Africa, Olatorera decided to put her gleaming career with multinational firms on hold and delve into entrepreneurship. While she continues to fund her business from personal savings, offers have reportedly already started coming in from investors, including prominent Nigerian billionaire Tony Elumelu.
INTRODUCE YOUR BUSINESS PROFESSIONALLY Let us help you design the business profile for your company – 7 to 10 Pages
Only R1 000,00 (VAT Incl.) Mike Chilewe Jr - Malawi Mike Chilewe Jr comes from a family of entrepreneurs. The 26-year-old business owner is the son of Malawian business magnate, Mike Chilewe. Learning from his father, the younger Mike is making enviable strides as a media entrepreneur. In 2015, he acquired Lilongwe-based Star FM, a struggling radio station that he’s slowly turning into a fruitful venture. Mike Jr, whose Twitter bio describes him as a “Young African entrepreneur on the road to building an African empire,” also owns Lala Limited, a Malawian holding company that invests in a variety of sectors such as manufacturing, agriculture, transport, and energy. When he’s not busy expanding his empire, Mike takes part in the non-profit organisation Global Business Roundtable, where he gives motivational talks to young aspiring entrepreneurs.
Verone Mankou - Congo At 30, Vérone Mankou has made significant strides as an entrepreneur and holds major achievements under his belt. Not only is he the founder of one of Congo’s most successful tech startups, VMK, but the Pointe-Noire-born inventor is also the creator of the first African-made tablet (the Way-C) and smartphone (the Elikia) – feats he achieved when he was still in his twenties. Today, he has sold thousands of smartphones and tablets to his Congolese customers, and as his company grows, Verone is starting to explore new markets. He has set up a store in Abidjan, Cote d’Ivoire. In 2015, he opened a $2 million factory in the capital Brazzaville, vowing to empower local talent with opportunities.
20TH EDITION – JUNE 2019
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READ MORE Mogau Seshoene – South Africa As the world increasingly becomes modernised, people tend to lose some aspects of their culture and traditions, including making those traditional dishes that define them. Mogau Seshoene, 27, realised that while most people she met knew how to whip up some Western cuisine, many didn’t know how to make South African dishes. So she started The Lazy Makoti, a cooking startup that teaches its clients how to make local meals. It all started in 2014 when she taught a friend how to make a traditional meal. The impressed friend went around gushing about Mogau’s services, leading other people to contact Mogau for lessons. As more enquiries started trickling in, she decided to register the business and turn her cooking skills into a livelihood, doing house calls and cooking lessons for small groups as well as selling branded kitchen accessories online and through popup stores.
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Dina Dash – Egypt She was only 21 when she ventured into business, and now Dina Dash, 22, is already shaking up Cairo’s PR and marketing scene.
After working for a PR agency for a short while, the American University in Cairo graduate decided to set up her own company. DASH Management does everything from campaigns to product and store launches, to photo shoots and social media management. Through her company, Dina organised Egypt’s first beauty conference in 2015, Dash Beauty Con, bringing together models, online influencers, celebrities, and fashion lovers in one place.
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Only R1 000,00 (VAT Incl.) Barclay Okari - Kenya Barclay Okari, 24, is the founder of Impact Industries, a company that manufactures affordable, reusable sanitary pads. He started the company when he was only 19, as a way to solve a particular problem besetting many girls in Kenya’s rural communities. He volunteered for a teaching job at a girls’ school in Narok, a small town in southwestern Kenya. While at the school, he observed that a great number of the girls were missing classes. He discovered that most of them were missing school due to their monthly periods as they could not afford sanitary pads. That’s when it dawned on Barclay that there was a market for an affordable product that can greatly benefit girls and women in rural Kenya. Taking a loan of $1,500 from his parents, and combining it with his own savings, Barclay set out to develop Safi Pads, an affordable, washable and reusable sanitary towel. Today, his company has sold these pads to hundreds of thousands of women in Kenya and Uganda.
Vanessa Zommi - Cameroon Vanessa Zommi, 21, is one of Cameroon’s brightest young minds. She was just 17 when she started her venture Emerald Moringa Tea, a product aimed at fighting diabetes by reducing blood sugar levels. After her mother was diagnosed with the disease, Vanessa set out to find an inexpensive but effective remedy, and she discovered it in the Moringa tree. This remarkable tree is known for its medicinal benefits, with its leaf containing antioxidants that enable it to treat various types of diabetes and boost the immune system. Vanessa started processing the leaf and packaging it in the form of tea for easier and enjoyable consumption. What motivates her to expand her business is that her product keeps her community healthy, and tackles her country’s chronic diabetes problem.
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By Isobel Asher Hamilton , Business Insider US
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Facebook announced on Tuesday, June 18th 2019 that it is launching its own cryptocurrency, Libra, in 2020.
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Facebook has set up a new company called Calibra to manage it, as well as an independent "Libra Association" to govern the currency along with a few dozen founding members.
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Here is what we know so far about what Libra will look like and how it will work
IT'S OFFICIAL, FACEBOOK'S MAKING ITS OWN CURRENCY.
The social network on Tuesday unveiled Libra, the secretive cryptocurrency it's been working on for more than a year. The currency is being backed by investment from big payment companies like Mastercard, Visa, and PayPal, as well as tech giants including Uber and Spotify. Facebook has high hopes for Libra, placing the focus squarely on providing cheap, accessible financial services to the 1.7 billion people around the world without bank accounts. It's set up a subsidiary company called Calibra, a wallet to handle users' cryptocurrency dealings, plus an independent not-for-profit "Libra Association," made up of founding companies that have already thrown their weight behind Libra to the tune of $10 million each. Here's what we know about what Libra will look like, how it's going to work, and how people will be able to get involved. 1. LIBRA WILL BE ACCESSIBLE THROUGH FACEBOOK MESSENGER, WHATSAPP, AND A STANDALONE APP Facebook has said a Libra digital wallet, in which people can store the cryptocurrency, will be accessible through Messenger, WhatsApp, and an app called Calibra - which Facebook says will be downloadable through the Apple App Store and the Google Play store. A picture from a Facebook press release gives us some idea of what this will look like, although the company says there's a way to go before it becomes a fully functioning consumer service.
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2. YOU'LL NEED A GOVERNMENT-ISSUED ID TO SET IT UP Once Libra launches in 2020, people will need to provide a government-issued ID to set up an account. TechCrunch's Josh Constine writes that users will need to provide additional verification details, but if Facebook wants to keep Libra accessible to the 1.7 billion people in the world with no bank account, it will want to keep the amount of documentation required to set up an account to a minimum. Calibra is already signing people up for "early access." 3. HOW WILL USERS PUT MONEY IN THEIR CALIBRA WALLETS? Users will be able to convert their local currency into Libra and then store that balance of Libra in their Calibra wallet. They'll be able to do this electronically, converting currency into Libra either using the Calibra app itself or third-party wallet apps. In terms of converting real-world cash, they'll also be able to head brick-and-mortar shops like grocers or convenience stores to top up their balance, much like people can now with top-up phone pay-as-you-go phone plans. The idea is that a Libra will be roughly the same value as a dollar, euro, or pound so it will be easy for people to get their heads around. A valuation is still yet to be determined, however. 4. WHAT WILL YOU BE ABLE TO PAY FOR WITH LIBRA? So far, Facebook has shown off Libra for money transfer. Here's an example from the Calibra website:
However, Libra won't just be for individual money transfers. The Calibra website says the first version of the app will "support peer-to-peer payments and a few other ways to pay such as QR codes which small merchants can use to accept payments in Libra." "Over time there will be many others including in-store payments, integrations into point-of-sale systems, and more." Point-of-sale systems typically just means a till, or a card reader. Facebook's VP of blockchain product Kevin Weil also told Business Insider's Rob Price that down the road, Libra could be integrated into the systems of Calibra's partners such as Uber. 5. IT WON'T BE FULLY CONTROLLED BY FACEBOOK
Facebook has set up an independent "Libra Association" to govern the currency. Facebook/Calibra is one of the 28 "founding members," alongside heavy-hitters including MasterCard, Uber, and Andreessen Horowitz. These firms paid a minimum of $10 million to join. Mark Zuckerberg wrote in a blog post following the announcement of Libra that he hopes to get 100 members onboard before the currency launches, and it is theoretically open to rivals like Google and Twitter. Being a member of the association entitles you to one vote, which could be used to select new founding members and elect a Libra Association managing director who will appoint an executive team.
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6. CALIBRA WON'T SHARE ANY INFO WITH FACEBOOK - UNLESS YOU REALLY WANT IT TO "Any information you share with Calibra will be kept separate from information you share on Facebook," Zuckerberg wrote in his blog post. Libra's default setting will be to not share any information with Facebook, and the company is insistent that financial data won't be used to target ads at users. The Calibra website also says that users won't need a Facebook or WhatsApp account to sign up to Calibra. However, TechCrunch's Constine said that Calibra may ask if users wish to import contacts or profile information from Facebook.
7. SO WHAT'S IN IT FOR FACEBOOK? In simple terms, more ad revenue. Facebook's hope is that businesses on its platform will adopt Libra, selling goods to customers using the currency. If this helps grow sales, the thinking is that it will encourage these companies to place more ads on Facebook. 8. DEVELOPERS WILL BE ABLE TO BUILD STUFF USING LIBRA BLOCKCHAIN TECH Facebook is open-sourcing the new coding language it used to build Libra, called Move. This means developers will be able to create new apps using Libra. In its blog post announcing Calibra, Facebook was careful to hedge its bets with a disclaimer: "This announcement contains forward-looking statements regarding our future product and business plans and expectations. These forward-looking statements may differ materially from actual results due to a variety of factors and uncertainties, many of which are beyond our control." Basically Libra is an unfinished product, so anything could change before it materializes in 2020. Mark Zuckerberg wrote in a blog post following the announcement of Libra that he hopes to get 100 members onboard before the currency launches, and it is theoretically open to rivals like Google and Twitter. Being a member of the association entitles you to one vote, which could be used to select new founding members and elect a Libra Association managing director who will appoint an executive team. 20TH EDITION – JUNE 2019
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Plan Everything, Spend and Invest wisely
By Morgen Moyo
INTRODUCTION “Success comes to those who dedicate everything to their passion in life. To be successful, it is also very important to be humble and never let fame or money travel to your head.” A. R. Rahman In the online world or social media the word GIF gets our minds running to those funny or not so funny animations. Some hate them and yet others just love them. In your money matters, as an acronym, there is certainly no fun to be found there. But, if you are conscious of the existence of the following, financial success will be in your horizon. GREED “Everything in moderation, including moderation.” Oscar Wilde The dictionary comes with the following when talking about greed; “intense or excessive desire, especially for food or wealth… desire to acquire or possess more than one needs.” It has been said that most of the people who win large sums of money in the lotteries normally lose most of it within a short period of time. And for that reason prior to depositing the millions into the winners’ accounts, they are counseled with the aim of changing such a trend. Besides people going on spending sprees, there is the other end of this. People in general, once they come across a cash windfall, something seems to take hold of their senses. Various options come into the horizon and the thoughts of greed come out in the open. Thoughts of doubling or tripling the cash on hand may prove too strong to resist. And yet without the skills of doing so, chances of losing all the money are high. Possibly this is the kind of market that schemes of all sorts feed on. Issues of risk or risk management are thrown out of the window as monies exchange hands into the seemingly lucrative deal of the decade. And boom the money vanishes into thin air and one is left holding a piece of paper as a receipt. Needless to say when it comes to your money matters, one of the issues that you will need to manage or conquer is that of greed. 20TH EDITION – JUNE 2019
Whilst I may not have all the facts pertaining to Steinhoff; I think the issue of greed may feature somewhere as investigators or Auditors dig in to see what really transpired in that company. The acquisitions, the desire to build a multi- billion company with a global footprint at the cost of the return on assets may all have an element of greed at top management of that firm. At individual level, you may discover that greed is a silent killer sabotaging your financial well being. Plan everything, spend and invest wisely, if something sounds too good it probably is, investigate and be slow to part with your money. “Rule one, never lose money. Rule two, never lose money. Rule three, refer to rule number one.” Warren Buffett Financial success is not about get rich quick schemes, but well thought out, executed plans over a period of time. IGNORANCE “If you think you know it all, you’ll never grow. It’s never too late to learn more. Always be learning, developing and growing.” David NathanJones The word ignorance is not a bad word but it is when you refuse to accept the fact that you are at the time ignorant of something, thereby stopping your growth path. The good thing is that it can be easily rectified. Imagine if you had not gone to school! Just getting crucial information from a newspaper would be more than a struggle. How would you process information around you? Life would be extremely difficult. Similarly, there are things that you may be ignorant of regarding financial matters for example, how to grow your money, what are the best investment vehicles, can one create their own business etc. PAGE 19
In general it is due to ignorance that people hold large sums of money in their savings and fixed deposit accounts with returns below inflation. But you see that’s what the person knows and when they hear of better returns they become apprehensive or easily fall on the ‘greed wagon.’
FEAR “There are a few things more liberating in life than having your worst fear realized …. It’s not easy, but your perceived failure can become a catalyst for profound reinvention.” Conan O’Brien
People jump onto the property market, just because they heard that there is money to be made in property. Huge amounts are ploughed into the project only to have a property standing vacant for months on end and in desperation unqualified tenants are handed the keys. Fast forward a few months down the line, non rental payments, evictions, lawyers and all those ugly things start happening.
I chuckled when I heard this gentleman speaking over the radio about how he and colleagues were taught about how to jump from a three meter height, landing on their feet and ready to run. They started off jumping from about a foot height and after mastering it, only then was the height increased progressively until they got to the required jump height.
Suddenly when the sums are computed you realize that you have thrown your money into a bottomless pit. Before you know what really hit you, you discover that you’re in a financial mess.
Once you zero down on an interest and put your mind to it, you will outgrow your fear and self limiting beliefs that may be holding you back. The financial world can be intimidating and for that reason most people stay the path of savings, fixed deposits, unit trusts and stokvels.
Whatever spark of brilliance or business tip, take time to evaluate and understand what the ‘investment vehicle’ is all about. Seek assistance from people who know more than you on the subject matter and in the end you will make informed decisions prior to committing your resources. Enroll for a course if need be, read books on your chosen area of interest, get a mentor, attend seminars and build your knowledge base and all this will be worthwhile in the end. It is still early days into the year, take time to learn or increase your skills when it comes to the subject of money, investments and wealth creation. And, as part of learning, you will have to unlearn some things as well. Question your belief systems about money and investments. Take for instance the issue of savings. Savings in itself it is not a good way of creating wealth although it is part of the wealth creation process. The wealth creation process is only evident through investments and yet you may have grown up being told that for you to be financially secure you must keep saving money. This is just but one belief system that you will need to unlearn.
20TH EDITION – JUNE 2019
Yet there are a lot of investment vehicles such as equities, bonds, contracts for difference, crypto-currencies, foreign currency trading, property investments just to mention a few. But again, what we don’t understand we tend to fear it and of those things that we fear, we reject them. If only you fully understood these investment vehicles, you could discover a new world with endless possibilities and your financial freedom.
Similarly the issue of creating and running your own business is not as easy for some. They get held back by fears of all kinds and fail to venture out in pursuit of their best business plans. CONCLUSION The above, may seem simplistic but unless you master these three imposters, they will forever hold you at ransom and you will not be able to live your dreams. The notion that you too can attain financial freedom may forever remain a pipe dream. Learn, unlearn, set up your financial goals and reach out to the stars. Resources Goal Setting and Goal Achievement Online Business Creation CashFlow Quadrant by Robert Kiyosaki and Sharon Letcher
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• • • • • •
The remote working revolution means the cloud is more crucial than ever – and you can’t afford to ignore it If predictions are correct, the cloud will have to support half of all staff in the US(1) and UK(2) working remotely by 2020. In fact, research by Regus’s parent group, IWG, suggests 53 per cent of people ditch the office 2.5 days a week or more – with 70 per cent doing it at least once a week(3).
Fuelled by employee demand for greater flexibility and a better life-work balance, cloud computing has become crucial. From offering the best applications, connecting workers with their colleagues around the world and accessing documents instantly across multiple devices, it’s also become more sophisticated. And while it’s taken some businesses time to adapt and understand the benefits of a cloud workforce, the increased savings and efficient use of real estate mean the message is finally hitting home – the significant productivity gains(4) it can produce are testament to its increasing success. Here we take a look at how the cloud came to be and focus on some of the latest innovations to help businesses embrace flexible working. HOW THE CLOUD CAME TO BE Flash back to the 1990s, and application service providers (ASPs) brought web-based applications to the market. The technology was crude, and networks couldn’t cope, but it proved the cloud had potential.
Suddenly staff were bypassing the company IT network to find better tools for the job. IT managers were the keepers of a castle – they had built a moat around it and secured data and applications inside it and now they were losing control. Eventually, people-power won on the basis that it was making them more productive and the cloud became the unstoppable force it is today.
HYBRID CLOUD VERSUS MULTI-CLOUD Up to 70 per cent of network traffic is now directed offpremise(5) and driven by flexible workers. One way that IT departments are coping is with the hybrid cloud. Here, popular public cloud providers such as Amazon Web Services or Google Cloud Platform operate independently – and theoretically in perfect harmony – alongside the private IT infrastructure of an organisation. This allows companies to store sensitive data on a private cloud, while leveraging the resources available from public cloud applications in a win-win for flexible workers. A new emerging innovation is multi-cloud and it means remote workers can cherry-pick the best applications and services from more than one public cloud provider at a time – think of it as a ‘best of’ cloud compilation album.
Java arrived and allowed applications through a web browser. It soon hit home that using the internet to connect to off-premise applications really could work. Fast-forward 10 years, Java matured and the internet became the best network in the world.
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CROSS-DEVICE CLOUD COMPATIBILITY A proper virtual workspace housed in the cloud can be accessed with pretty much any end-user device, whether it’s a desktop computer, laptop, smartphone or tablet. This empowers staff to work in the most efficient manner possible. It also has a hugely positive impact on time management. Why travel into work during rush hour when you can work remotely until things have died down and then head in? ENTERPRISE MESSAGING IN THE CLOUD As with WhatsApp for internal business communications, enterprise messaging is a way for staff to work collaboratively without getting bogged down by email and unnecessary meetings, so things get done faster and more efficiently. A top enterprise messenger service offers more than just a convenient way to chat. It should work seamlessly across all devices and includes things such as voice and video calling, all supported securely over the cloud. Given it’s all about being snappy, it’s little wonder the platforms all have buzzword-style names. Fuze, Flock and Slack have already established themselves as favourites for end users because they are easy to navigate and require very little set-up. Internet of Things and the cloud The Internet of Things (IoT) describes devices connected to a network. Rather than traditional devices such as computers, these could be cameras, thermostats and microphones. Data gathered by these devices is handled in the cloud, meaning workers who rely on it can access and act upon it without having to be there.
Take manufacturing, where machines must work at peak performance. Traditionally trained engineers had to be on site to monitor the operation but, by using IoT sensors, they can keep tabs on variables such as temperature, energy consumption and moisture from anywhere. The impact is being felt in the office, too. As some businesses turn to virtual assistants(6) for administrative roles, the IoT can help support them carry out tasks that previously would have required someone to be there in person. For example, at the offices of Upwork(7), a global freelancing platform, employees and visitors are greeted by a virtual receptionist using a combination of iPads and internet-connected telerobots. The virtual assistant can check them in and even offer bottles of water while notifying physical staff that someone is in reception. SOURCES: Content: James Day, UK based Technology Journalist, featured in Regus SA (1) https://www.verdict.co.uk/half-us-workforce-will-work-remotely-2020-need-5g-internet/ (2) http://smallbusiness.co.uk/half-uk-workforce-remotely-2020-2540827/ (3) http://www.iwgplc.com/ (4) https://www.inc.com/scott-mautz/a-2-year-stanford-study-shows-astonishing-productivity-boost-of-working-from-home.html (5) https://www.zscaler.com/blogs/corporate/three-phases-cloud-evolution (6) https://www.upwork.com/hiring/admin-support/why-you-need-a-virtual-assistant-5-tips-for-success/ (7) https://www.upwork.com/?gclid=Cj0KCQjwuYTYBRDsARIsAJnrUXB9OkitLif5uuUIi9h-ZIx1R-Ttn98TV9yMNjKtZ62v6j41qi_hGwAaAlGfEALw_wcB
19TH EDITION 20TH EDITION––APRIL/MAY JUNE 2019 2019
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“ SAFETY IS THE
ENGINE, AND YOU ARE THE KEY THAT STARTS IT.”
OCCUPATIONAL HEALTH & SAFETY
OUR RANGE OF SERVICES FOCUSES ON THE FOLLOWING: • Risk Assessments (HIRA) • Legal Appointments
• Construction Safety management system • Incident management (Reporting and Investigation ) • Inspection and Internal Audit • Help organisation to identify all risk related to their product, services, and activities • Developing Safety management programs that help organisations to achieve best practices. • Updating of legal amendment in line with department of labour legal updates. • Construction Safety management principles • Consultation with the department of labour from time to time to ensure smooth running of the projects. • Development of safety standards and Safe working procedures (ISO 9001, ISO 4500 and ISO 3100) • Advice on statutory requirements such as COID Act, NEMA, OHSA, Construction Regulation, etc. • Implementation of Safety systems through Information Technology and research.
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Dr. Travis Bradberry is the award-winning coauthor of the #1 best selling book, Emotional Intelligence 2.0, and the cofounder of TalentSmart ®
THEY SPEAK WITH AUTHORITY Great communicators don’t try to cover their backs by being ambiguous, wishy-washy, or unassertive. Instead, they stick their necks out and speak very directly about how things are and how they need to be. THEY SPEAK TO GROUPS AS INDIVIDUALS Leaders rarely have the luxury of speaking to one person at a time. Whether it’s a huddle around a conference table or an overflowing auditorium, great leaders know how to work the room and make every single person feel as if he or she is being spoken to directly. THEY HAVE EARS (AND THEY USE THEM)
No one ever became a great leader without first becoming a great communicator. Great leaders connect with people on an emotional level every time they speak. Their words inspire others to achieve more than they ever thought possible.
Great communicators are intentional about it, and there are 10 secrets they rely on to deliver a powerful message. Put these secrets to work in your communication and watch your influence soar. THEY KNOW THEIR AUDIENCE Great communicators don’t worry about sounding important, showing off their expertise, or boosting their own egos. Instead, they think about what people need to hear, and how they can deliver this message so that people will be able to hear it. This doesn’t mean that leaders tell people what they want to hear. Quite the opposite—they tell people what’s important for them to know, even if it’s bad news. THEY ARE EXPERTS IN BODY LANGUAGE Great communicators are constantly tracking people’s reactions to their message. They are quick to pick up on cues like facial expressions and body language because they know this is the only feedback many people will give them. Great communicators use this expertise to tailor their message on the fly and adjust their communication style as needed. THEY ARE HONEST The best leaders know that for communication to be effective it has to be real. They can’t have people parsing every word trying to separate fact from spin. When great communicators can’t share certain information, they come right out and say it because makeshift, half-truth answers breed distrust and anxiety. In good times and bad, honesty builds trust. THEY ARE AUTHENTIC Great communicators don’t try to be someone they’re not just because they’ve stepped behind a podium. There’s a reason Mark Zuckerberg presented Facebook to investors in a hoodie and jeans. Great leaders know that when they stay true to who they are, people gravitate to their message. They also know the opposite happens when leaders put on an act. 20TH EDITION – JUNE 2019
Great leaders know that communication is a two-way street and what they hear is often more important than what they say. When someone else is speaking, great communicators aren’t thinking ahead and planning what they’ll say next. Instead, they’re actively listening, fully focused on understanding the other person’s perspective. THEY USE PHRASES LIKE “IT’S MY FAULT,” “I WAS WRONG,” AND “I’M SORRY” When great leaders make a mistake, they admit it right away. They don’t wait for someone else to find and point out their blunder. They model accountability for their words and actions, even when they could have easily “gotten away” with the mistake. And they do it matter-offactly, without drama or false humility. THEY SOLICIT FEEDBACK The best communicators never assume that the message people heard is the exact same one they intended to deliver. They check in to verify that their message was understood correctly, and, if it was not, they don’t blame the audience. Instead, they change things up and try again. THEY’RE PROACTIVE Leaders with the best communication skills don’t waste time playing catch-up. They’re quick to head off the rumor mill by sharing bad news in a timely manner. They also give clear, concise goals and directions so people don’t waste their time heading in the wrong direction. BRINGING IT ALL TOGETHER Great communicators stand out from the crowd. They’re honest. They’re authentic. They listen. They excel in communication because they value it, and that’s the critical first step to becoming a great leader.
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DEBT HELP FOR YOUR COMPANY
Jacques Loots An Admitted Attorney
In the current economic climate in South Africa, many companies are struggling to meet their financial obligations resulting in the massing of debt that can eventually stop the functioning of the company as it may result in suppliers discontinuing delivery, employees departing or utilities being cut. The most important thing to do is to be proactive and ensure that you identify any financial weak spots immediately and start making the necessary arrangements before it is too late.
The question arises when is a company financially distressed? The companies act give the following definition: If at any particular time, (i) it appears to be reasonably unlikely that the company will be able to pay all of its debts as they fall due and payable within the immediately ensuing six months; or (ii) it appears to be reasonably likely that the company will become insolvent within the immediately ensuing six months. My company is financially distressed, what now? The board of a company may resolve that the company voluntarily begin business rescue proceedings and place the company under supervision, if the board has reasonable grounds to believe that— (a) the company is financially distressed; and (b) there appears to be a reasonable prospect of rescuing the company. Remember however that this resolution contemplated in subsection may not be adopted if liquidation proceedings have been initiated by or against the company hence my prior advise not to wait.
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Remember that an affected person can also make an application to the High Court for an order placing the Company under supervision and commencing business rescue proceedings. An affected person is defined as either a shareholder, creditor, employee (or their representative) or a registered trade union representing employees of the company. What is the role of the business rescue practitioner? The practitioner is required to reduce the debt burden in order to enable the company to continue trading. They are required to investigate the company’s affairs, business, property and financial situation, and thereafter consider whether there is any reasonable prospect of rescuing the company. A business rescue plan must be drawn up by the practitioner and will then be put to a vote by the creditors. Once successfully voted in, the business rescue practitioner must implement and oversee the business rescue plan in an attempt to save the company. The practitioner must notify the company, the court and affected persons if there is: - No reasonable prospect for the company to be rescued or no longer reasonable grounds to believe that the company is financially distressed; or - Evidence, in the dealings of the company before the commencement of business rescue proceedings, of voidable transactions or a failure by the company or any director to perform any material obligation relating to the company and the practitioner must direct the management of the company to take steps to rectify the problem; or - Reckless trading, fraud or other contravention of any law relating to the company, and the practitioner must forward the evidence to the appropriate authority for further investigation and possible prosecution and direct the management to take any necessary steps to rectify the matter (including recovering any misappropriated assets of the company).
What effect does Business Rescue have on my employees? The Companies Act regulates the interests of employees during business rescue. Employees who were employed by the company immediately prior to the institution of business rescue will remain employees of the company on to the same terms and conditions except if different terms and conditions are agreed to between the employee and the company in accordance with labour laws in line with the business rescue plan. Employees will also have an opportunity to give input into the business rescue plan either by means of their representatives or trade unions. What effect does business rescue have on a creditor? Under the supervision of the business rescue practitioner creditors must comply with their obligations to supply goods or services to the company in the same manner in which they did prior to the commencement of business rescue proceedings, unless the agreement between the company and the creditor has specific guidelines in the event of an insolvency or business rescue. The business rescue practitioner will convene a meeting for the creditors where their input will be heard and considered. Creditors may not institute legal proceedings against the business once business rescue proceedings have started without permission of the business rescue practitioner or leave of the court. Remember that the purpose of business rescue is not to magically turn a dead business into a Fortune 500 company. It is rather a way for struggling companies to make one last attempt to ensure their longevity. The best way therefor to approach a business rescue whether voluntarily or forced by court order is to give the business rescue practitioner full cooperation and disclosure. For any queries regarding business or personal debt solutions please contact our offices for a confidential and honest opinion.
What happens to the directors during business rescue? They remain the directors. However, their powers and duties are constricted in that the business rescue practitioner has full management control over the company
Contact us today to set your appointment for legal consultation
082 441 7150 231 General Hertzog Road Three Rivers
20TH EDITION – JUNE 2019
Loots Attorneys
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HOW TO WIN FRIENDS AND INFLUENCE PEOPLE by Dale Carnegie
You can go after the job you want...and get it! You can take the job you have...and improve it! You can take any situation you're in...and make it work for you! Since its release in 1936, How to Win Friends and Influence People has sold more than 15 million copies. Dale Carnegie's first book is a timeless bestseller, packed with rock-solid advice that has carried thousands of now famous people up the ladder of success in their business and personal lives. As relevant as ever before, Dale Carnegie's principles endure, and will help you achieve your maximum potential in the complex and competitive modern age. Learn the six ways to make people like you, the twelve ways to win people to your way of thinking, and the nine ways to change people without arousing resentment.
Rating Details
Paperback, Special Anniversary Edition, 288 pages Published October 1st 1998 by Gallery Books (first published October 1936) Original Title : How to Win Friends and Influence People ISBN13 9780671723651 Edition Language : English
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WE’RE LOOKING FOR RESULTS-DRIVEN SALES AGENTS IN EACH PROVINCE BRILLIANT COMMISSION, WE GIVE YOU UNCAPPED EARNING POTENTIAL. BONUSES WHEN EXCEEDING TARGETS What we provide •
Full in-house product training
Responsibilities • • • • • • • • • •
Present, promote and sell products/services using solid arguments to prospective customers Perform cost-benefit and needs analysis of existing/potential customers to meet their needs Establish, develop and maintain positive business and customer relationships Reach out to customer leads through cold calling Expedite the resolution of customer problems and complaints to maximize satisfaction Achieve agreed upon sales targets and outcomes within schedule Analyze the territory/market’s potential, track sales and status reports Supply management with reports on customer needs, problems, interests and potential for new products. Keep abreast of best practices and promotional trends Continuously improve through feedback
Requirements • • • • • • •
Proven work experience as a Sales Representative Familiar with CRM practices along with ability to build productive business professional relationships Highly motivated and target driven with a proven track record in sales Excellent selling, communication and negotiation skills Prioritizing, time management and organizational skills Ability to create and deliver presentations tailored to the audience needs Relationship management skills and openness to feedback
Successful applicants must have the following: • • • • • •
Completed Matric or equivalent Relevant qualifications in sales will be essential Minimum 2 years work experience Fully bilingual in English and Afrikaans Clear criminal record Own car will be essential as well
Send your CV to vacancy@businessxposure.co.za or fax to 086 597 9601 20TH EDITION – JUNE 2019
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