LET’S TALK LEGAL PROPERTY ADVICE TIPS ON FINANCIALLY PROTECTING YOUR HOME IN A RECESSION
CONVERSATION WITH
JOHN
LOMBELA
TRAVEL UPDATE
BUSINESS RESCUE: THE EFFECT ON CONTRACTS, SURETYSHIPS AND PAYMENT RANKINGS
ONLINE SECURITY BUSINESS FOCUS
ECONOMY INSIGHTS
TOURISM DURING COVID-19: TRIPADVISOR RELEASES FINDINGS OF A STAGED RECOVERY
PUBLISHING CREDITS CHIEF EDITOR Benito Mamaile editor@businessxposure.co.za EXPERT CONTRIBUTORS Frans Nel Dr. Travis Bradberry Morgen Moyo Madelain Roscher Tripadvisor Jacques Loots Thabiso Gama Elena Agaragimova South African Banking Risk Information Centre PICTURES Intellectual Media Cover Interview Pictures Credit: John Lombela Entrepreneur of the month Pictures Credit: PayFast, Warrick Kernes & Nomndeni Mdakhi DESIGNERS Intellectual Media and Communications LEGAL Loots Attorneys Gama Attorneys
JOHN LOMBELA CEO, Cryptovecs Capital
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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.
BENITO MAMAILE CEO & Business Development, Intellectual Media and Communications Platform Architect & Chief Editor, National Business Xposure South Africa
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MADELAIN ROSCHER MD, Multi Award Winning PR Specialist at PR Worx South Africa
JIMMY MSIBI CEO, SHERQ Specialist Masweja SHERQ Management South Africa
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CHIEF EDITOR’S LETTER
PANDEMIC IS ACCELERATING WORKPLACE INNOVATION AS BUSINESSES FIND COST EFFECTIVE WAYS TO OPERATE ” They always say time changes things, but you actually have to change them yourself. ” ― Andy Warhol, American artist, film director, and producer
South Africa eased the regulations in order to restart the economy, but this isn’t a quick fix as many will still need to measure its impact before they can be fully operational. – John Lombela
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COVER INTERVIEW
John Lombela
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COVER INTERVIEW
Exclusive CHAT
John Lombela
J
Take actions and then get to work. Most people today are afraid to recognize that they have a burning desire to accomplish something greater than what they currently do.
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COVER INTERVIEW
Blockchain: Building an inclusive, transparent digital African economy What I was able to detect in all the countries I’ve visited is the government’s knowledge of the blockchain.
I’ve talked with prime ministers, vice presidents, and government emissaries on how the people can benefit from going from fiat to crypto, and they were all very enthusiastic about the underlying idea.
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Meeting with Grant Cardone in Miami, the Real Estate Investor
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TECHNOLOGY
PASSWORDS are dangerous, get rid of them! Contributed by
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Alexandre Nardy Soares Senior Associate Partner
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GET INSPIRED ON THE GO
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TRAVEL AND TOURISM
Tourism During COVID-19: TRIPADVISOR Releases Findings of a Staged Recovery
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BUSINESS FOCUS
Visa launches Click to Pay in South Africa
Contributed by
Visa said it was rolling out this feature in South Africa and a number of other countries following a successful launch in the United States, adding that Click to Pay would make the online shopping easier for web, app, or mobile device users.
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ENTREPRENEUR OF THE MONTH
Warrick Kernes
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ENTREPRENEUR OF THE MONTH
Warrick Kernes
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For Entrepreneurs by Entrepreneurs
MEMBER BENEFITS
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ENTREPRENEUR OF THE MONTH
Nomndeni Mdakhi
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ENTREPRENEUR OF THE MONTH
Believe in yourself and you will be unstoppable - Dumitru D. Coman
Nomndeni Mdakhi
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LET’S TALK LEGAL
BUSINESS RESCUE: THE EFFECT ON CONTRACTS, SURETYSHIPS AND PAYMENT RANKINGS
Thabiso Gama Corporate & Commercial Attorney & Director | Gama Attorneys Inc.
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LET’S TALK LEGAL
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Gama Attorneys Inc.
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Clients associated with Gama Attorneys Inc. operate seamlessly across all of these jurisdictions, in order to provide the best legal advice under competitive terms with original values
ECONOMY INSIGHTS
South African Reserve Bank cuts the repo rate to mitigate economic impact of Covid-19 pandemic “However, getting back to pre-pandemic activity levels will take time. GDP is expected to grow by 3.7% in 2021 and by 2.8% in 2022,” he said.
Lesetja Kganyago, Governor South African Reserve Bank Consumer price inflation forecast averages 3.4% in 2020 and is marginally lower than previously forecast at 4.3% in 2021 and 2022
South African Reserve Bank (Sarb) governor, Lesetja Kganyago, announced another 25-basis points repo rate cut on Thursday, taking the rate to a four-decade record low of 3.5% and the prime commercial lending rate to 7%.
Three members of Sarb’s MPC preferred a cut of 25 basis points and two preferred to keep rates on hold at the latest meeting, according to Kganyago.
The widely expected decision was made following the bank’s 3-day Monetary Policy Committee (MPC) meeting in Pretoria.
This is an indication that the bank will be more cautious on further rate cut decisions going forward.
Read: Covid-19 to push SA savings to record low The latest cut means that the repo rate has been slashed by 300 basis points or 3 percentage points this year, as the bank takes unprecedented monetary policy steps to help mitigate the economic fallout of the Covid-19 pandemic. In April, amid the initial Covid-19 “hard lockdown” to curb the pandemic, Sarb called an emergency MPC meeting and slashed the repo rate by 100 basis points. At its last meeting in May, it cut the rate by a further 50 basis points. “The Covid-19 outbreak has major health, social and economic impacts, presenting challenges in forecasting domestic and global economic activity. The compilation of accurate economic statistics will also remain severely challenged,” Kganyago said in his MPC address.
“Our second quarter estimate for output has been revised lower. The Bank currently expects GDP in 2020 to contract by 7.3%, compared to the 7.0% contraction forecast in May,” he said. “Even as the lockdown is relaxed in coming months, for the year as a whole, investment, exports and imports are expected to decline sharply. Job losses are also expected to rise further,” added Kganyago. The governor noted that the easing of the lockdown “has supported growth in recent weeks” with activity indicators showing a pickup in spending from extremely low levels.
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“The implied path of policy rates over the forecast period generated by the [Sarb] Quarterly Projection Model indicates one repo rate cut of 25 basis points in the fourth quarter of 2020 [and] remaining unchanged in the first quarter of 2021,” said Kganyago. “Monetary policy can ease financial conditions and improve the resilience of households and firms to the economic implications of Covid-19. In addition to continued easing of interest rates, the Sarb has relaxed regulatory requirements on banks and has taken important steps to ensure adequate liquidity in domestic markets. These actions are intended to free up more capital for lending by financial institutions to households and firms,” he added.
“ Kganyago reiterated that monetary policy on its own cannot improve South Africa’s potential growth rate or reduce fiscal risks. ” “These should be addressed by implementing prudent macroeconomic policies and structural reforms that lower costs generally, and increase investment opportunities, potential growth and job creation. Such steps will enhance the effectiveness of monetary policy and its transmission to the broader economy,” he noted. According to Moneyweb calculations, the latest 25 basis points rate cut will see homeowners with a R1 million existing 20-year home loan, reduce their bond payment by around R150 a month. This is based on a prime lending rate. South Africa’s repo rate cuts totalling 300 basis points since the beginning of this year, effectively mean that such homeowners will now be saving around R1900 a month in bond payments.
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EMOTIONAL INTELLIGENCE
"Time is really the only capital that any human being has, and the only thing he can’t afford to lose." —Thomas Edison
"Time is what we want most, but what we use worst." - William Penn
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EMOTIONAL INTELLIGENCE
THEY STICK TO THE SCHEDULE DURING MEETINGS. Meetings are the biggest time waster there is. Ultra-productive people know that a meeting will drag on forever if they let it, so they inform everyone at the onset that they’ll stick to the intended schedule. This sets a limit that motivates everyone to be more focused and efficient. THEY SAY NO. No is a powerful word that ultra-productive people are not afraid to wield. When it’s time to say no, they avoid phrases such as I don’t think I can or I’m not certain. Saying no to a new commitment honors your existing commitments and gives you the opportunity to successfully fulfill them.
Research conducted at the University of California in San Francisco shows that the more difficulty that you have saying no, the more likely you are to experience stress, burnout, and even depression. Learn to use no, and it will lift your mood, as well as your productivity.
THEY ONLY CHECK EMAIL AT DESIGNATED TIMES. Ultra-productive people don’t allow e-mail to be a constant interruption. In addition to checking e-mail on a schedule, they take advantage of features that prioritize messages by sender. They set alerts for their most important vendors and their best customers, and they save the rest until they reach a stopping point. Some people even set up an auto responder that lets senders know when they’ll be checking their e-mail again.
ABOUT THE AUTHOR: Dr. Travis Bradberry is the award-winning co-author of the #1 bestselling book, Emotional Intelligence 2.0, and the cofounder of TalentSmart, the world's leading provider of emotional intelligence tests and training, serving more than 75% of Fortune 500 companies. His bestselling books have been translated into 25 languages and are available in more than 150 countries. Dr. Bradberry has written for, or been covered by, Newsweek, TIME, BusinessWeek, Fortune, Forbes, Fast Company, Inc., USA Today, The Wall Street Journal, The Washington Post, and The Harvard Business Review.
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REAL ESTATE
TIPS ON FINANCIALLY PROTECTING YOUR HOME IN A RECESSION
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