Top500 9th Edition by Topco Media

TO P 5 0 0 : S O U T H A F R I C A’ S B E S T M A N A G E D C O M PA N I E S - 9 t h E D I T I O N w w w. t o p 5 0 0 . c o . z a

ADRIAN GORE

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FUTURE FIT CEO OF DISCOVERY

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CONTENTS

CONNECTED CONSERVATION

FAST FACTS

UPFRONT Featured clients

Editorâ&#x20AC;&#x2122;s letter

Fast facts

SECTOR OVERVIEWS

ARTIFICIAL INTELLIGENCE

SKY AMBULANCE

Engineering

Environment

FEATURES & ARTICLES

Transport

Keeping Africa on the grid

Health

Connected conservation

Security

Sky ambulance

Food and beverage

Big cyber heist

Tourism

Artificial intelligence: The next battleground

Business support services

106

Developments in sub-Saharan Africa

Finance

118

The future of money is about peer-to-peer currencies

2 Top500 9th Edition

100 124

CONTENTS & CREDITS

CREDITS CEO

SENIOR DESIGNER

Ralf Fletcher

Kamiela Abrahams

HEAD OF BRAND

JUNIOR DESIGNER

Odelia Fester

Micah Huang

KEY ACCOUNT MANAGERS

TRAFFIC MANAGER

Stephani Ferreira

Daniel Bouwer

Shirley Paris Kevin Dube

PROOFREADER Jenny Kirsten

RESEARCH MANAGER Sandra Bock

DISTRIBUTION & SUBSCRIPTIONS

RESEARCHERS

Ingrid Johnstone

Nazreen Harris Rafeeq Joseph

TOPCO STUDIO

FUTURE FIT INTERVIEW WITH ADRIAN GORE

PRODUCTION DIRECTOR

PRINTERS Paarl Media IMAGES Shutterstock

Van Fletcher HEAD OFFICE GROUP EDITOR

Top Media & Communications

Fiona Wakelin

(Pty) Ltd, T/A Topco Media 14 Roodehek Street,

FEATURES EDITOR

Gardens, Cape Town, 8001

Elske Joubert Tel: +27 86 000 9590

THE SUN KING INTERVIEW WITH SOL KERZNER

PRODUCTION EDITOR

Fax: +27 21 423 7576

Anton Pretorius

Email: info@topco.co.za Website: www.top500.co.za

INTERVIEWS Adrian Gore: Founder and CEO of Discovery Group

Francois Groepe: Deputy Governor of the SARB

DISCLAIMER

Sol Kerzner: Sun King and billionaire

a retrieval system or transmitted, in any form or by any means, electronic,

Michael Cathie: CEO of Nando’s SA

consent of Top Media & Communications (Pty) Ltd T/A Topco Media. Reg.

Greg Solomon: CEO of McDonald’s SA

publication, the publishers, editor and contributors accept no responsibility for

All rights reserved. No part of this publication may be reproduced, stored in mechanical, photocopying, recording or otherwise, without the prior written No. 2011/105655/07. While every care has been taken when compiling this any consequences arising from any errors or emissions. ISBN: 9780620531054

Top500 9th Edition 3

CONTRIBUTORS & FEATURED CLIENTS

FEATURED CLIENTS ACTOM (Pty) Ltd

Air Chefs SOC Limited

AEEI Limited

123

AQRate (Pty) Ltd

168 94, 95

ATKV Bestmed Medical Scheme

64, 65, 66, 67

Bidvest Car Rental (Pty) Ltd

58, 59

Bidvest Panalpina Logistics

57 40, 41, 42, 43

Buhle Waste

98, 99

Castle of Good Hope

117

ClareMart Auction Group

CTICC

54, 55, 56

Dollar Thrifty Car Hire Excellerate Security Services

108, 109, 110, 111

FACT

Harmony Gold Mining Company Limited

161

Heineken South Africa (Pty) Ltd

86, 87, 88

Jaguar Land Rover East Rand

CONTRIBUTOR

136, 137 36

JG Afrika (Pty) Ltd

116

Nashua Limited Old Mutual Investment Group (South Africa) (Pty) Ltd

120, 121, 122

Ricoh South Africa (Pty) Ltd

112, 113, 114 75

Samsung NAC

SMEC The Green Company Volvo Group Southern Africa 4 Top500 9th Edition

HEINEKEN SOUTH AFRICA

34, 35

GIBB (Pty) Ltd

Sanlam Limited

IFC 161 60, 61

124

THE FUTURE OF MONEY IS ABOUT PEER-TO-PEER CURRENCIES

LORENZO FIORAMONTI Lorenzo Fioramonti is Professor of Political Economy at the University of Pretoria and author of Wellbeing Economy: Success in a World Without Growth (Macmillan 2017).

EDITOR’S LETTER

How do we ride the whirlwind? This edition of Top 500 includes articles and interviews by inspirational leaders who see opportunity in challenges and who have managed to harness the possibilities afforded by the technological revolution: cover icon Adrian Gore, founder and CEO of Discovery Group, speaks to us about how he seized the day 25 years ago and has built a global empire; and we trust you will enjoy meeting Sun King Sol Kerzner who takes us on the journey of how, against all odds, he built an empire of a different nature – founding and growing Sun International. And whilst disruption opens up a multitude of new horizons, in order to embrace these opportunities we need to come from a coherent core. How does the financial sector manage to ensure stability when disruption is the new norm? Deputy Governor of the SA Reserve Bank, Francois Groepe takes us into his confidence regarding fintech and cyber security; and the article “Big Cyber Heist” provides advice for how you can avoid falling prey to the phishers, scammers and ransomware attackers lurking in the shadows of the tech horizon. Quick question – how do you go from being an engineer to becoming CEO of McDonald’s SA? Read the interview with “big fry” Greg Solomon. Keeping with the theme of global food brands, our homegrown international brand Nando’s is something to crow about – read all about how it started in a little place in Rosettenville. If drastic measures are not put in place, the year 2025 might be

COHERENT DISRUPTION

f I had to think of a term that reverberated throughout a multitude of conversations in 2017, pole position would go to “disruption” – disruption was here, there and everywhere – technology, the

4IR, Trump, Kim Jong Un, ISIS, hurricanes, wildfires, drought, cabinet reshuffles, Bitcoin, drones ... And yet disruption is nothing new on this planet – in his book Sapiens, Yuval Noah Harari describes how 200 000 years ago, newcomer Homo sapiens disrupted the entire 4.5 billion year-old food chain, leapfrogging to the top by virtue of the fact that we are able to ascribe to common concepts – so thousands of people can belong to the same group without ever having met each other – think capitalism, religion, corporate identities, fashion, currencies,

the last one for rhino in South Africa. The good news is that the fight to save our rhino population has been given a huge boost by the use of sophisticated technology and big businesses that are passionate about conservation. The health sector is also receiving a shot in the arm with strategic implementation of the game of drones. In this edition we have added value to the comprehensively researched Top 500 listing by juxtaposing this year’s leaders with last year’s trailblazers; this comparative view reflects at a glance, movement, change, newcomers, stability. On behalf of myself, features editor, Elske Joubert, production editor, Anton Pretorius and designers Kamiela Abrahams and Micah Huang we hope you enjoy the read.

legal systems and technology. And it is this last group, team technology, which is digging the disruptive spurs in, getting the speed and rate of change to increase exponentially.

Top500 9th Edition 5

FAST FACTS

6 Top500 9th Edition

FAST FACTS

DID YOU KNOW? Apple has $261.5-billion in cash. It could buy Uber, Tesla, Netflix, Airbnb and Twitter and still have $29-billion left over. Google rents out goats from a company called California Grazing to help cut down the amount of weeds and brush at Google HQ. The word ‘robot’ comes from the Czech ‘robota’. This translates into forced labour, or work. You cannot reverse a Bitcoin transaction or be

forced to pay.

1. AIRBNB The world’s largest

Google, Facebook, Twitter, and Amazon are all

accommodation provider,

owns no real estate.

most popular operating systems for the general consumers. But, Linux leads the industry.

2. FACEBOOK The world’s most popular

A red panda is native to the Himalayas and

media owner, creates no

southwestern China. Translated, the English

content.

word for red panda is ‘Firefox’, which is where the browser gets its name.

3. BITCOIN The world’s biggest

On eBay, there is an average of $680 worth of

decentralised digital asset,

transactions every second.

with no actual cash.

There are 6.8 billion people on the planet and

4. UBER

4 billion of them use a mobile phone. Only 3.5

The world’s largest taxi

company, owns no vehicles.

billion of them use a toothbrush. Google handles an estimated 1 billion search

5. ALIBABA

queries each and every day, releasing almost

The most valuable retailer,

200 tons of CO2 per day.

has no inventory.

Wi-Fi was developed using technology from a failed experiment attempting to detect mini black holes.

SONY has a patent on making viewers yell product names out loud to end TV ads. In 1999, PayPal, with its original business model, was voted top ten worst business ideas. As of 2017, they have a market cap of $61.6-billion.

Top500 9th Edition 7

Photographer: Justin Dingwall

FUTURE FIT

ADRIAN GORE DISRUPTOR PAR EXCELLENCE AN INTERVIEW WITH DISCOVERY CEO, ADRIAN GORE BY FIONA WAKELIN th 26Top500 8 Top5009th9Edition Edition

FUTURE FIT – ADRIAN GORE DISRUPTOR PAR EXCELLENCE

Discovery is a diversified and multinational financial services group, a global thought leader in wellness behavioural change and its integration with health, life and short-term insurance. Under Adrian Gore’s leadership, the company listed on the

EDITORIAL

WHAT HAVE BEEN YOUR MOST MEMORABLE MILESTONES – BOTH SUCCESSES AND CHALLENGES? I think of it less in terms of milestones and more as a journey. A challenging time was in the late 1990s when we were taking Discovery public, while at the same time facing very public disagreements with the Department of Health around health policy and the change in medical scheme regulations. They weren’t business challenges per

JSE in 1997 and has expanded into the United Kingdom,

se, except that in a sense our basic business model was under threat.

United States, Canada, Europe, Japan and China. Income

More than that, it was a time of debating values – what’s good for

flows exceed R50-billion and over 12 000 employees globally serve ten million customers world-wide. WE SPEAK TO FOUNDER AND CEO, ADRIAN GORE ABOUT THE JOURNEY, HIS INSIGHTS AND HIS PERSONAL ‘WHY’. ON 10 MARCH 1992, YOU WERE SITTING IN FRONT OF A PHONE WITH AN A4 EXAM PAD NEXT TO YOU, ABOUT TO START SOMETHING NEW. FIVE YEARS LATER DISCOVERY LISTED ON THE JSE. WHAT WERE YOU THINKING AS YOU LOOKED AT THAT EXAM PAD AND HOW DID YOU GROW WHAT WAS WRITTEN ON THOSE PAGES INTO A MULTINATIONAL SERVICES GROUP? At the time it was a high-level list of things to get done – product, distribution and so on. I still have that note and it is humbling to look at now. Our growth has been principally organic, which has helped the organisation remain true to its purpose and values. We were fortunate in that we had excellent people giving input into the business from the start – we were a start-up with an Exco, so we had the opportunity to engage with brilliant people each week and use them as a sounding board. While Discovery has scale now, in truth we comprise a number of entrepreneurial ventures, each with an owner-manager culture – the team that built Discovery is largely the same team leading it at present. So the entrepreneurial modus operandi is mostly the same. It’s worked for us and it still does. I believe in the idea of framing – for example, at the beginning we set a core purpose framed within a values set, manifesting in the Vitality Shared-Value Insurance business model. Within this evergreen framework, we have set ourselves nearer-term goals, such as our ambition of being the best insurer in the world and a powerful force for social good by 2018. The business is pushing hard to achieve this goal according to a set of measurement criteria, couched within our broader framing of purpose and values. In many ways, it feels like we are just starting out.

society, how you structure a medical scheme. Also, the country was in an ideological phase as it came out of the old South Africa and into the new, they were formative years of the country. The changes played a big role in shaping what private healthcare should look like. In terms of successes, the whole journey has been a highlight. When you’ve had the privilege of building an organisation from the start, every development feels significant – the growth has been constant and exciting. IS THERE ANYTHING YOU WOULD HAVE DONE DIFFERENTLY? As the team building Discovery over the years, we thought things through the best we could. There are no regrets and we wouldn’t have done things differently. It has been a process of rich debate but ultimately egalitarian decision-making, doing the best we could with the information available at the time. SIMON SINEK IN TEDX TALKS SPEAKS ABOUT HOW GREAT LEADERS INSPIRE ACTION THROUGH THEIR PERSONAL ‘WHY’. WHAT IS YOUR PERSONAL WHY/CORE BELIEF AND HOW HAS THIS TRANSLATED INTO DISCOVERY’S PHENOMENAL GROWTH? 25 years ago we began a health insurer in an environment ripe for disruption – post-Apartheid South Africa had a shortage of doctors and a high quadruple medical burden, as well as changing legislation which moved private health insurers to an egalitarian system of community rating, without mandatory enrolment. Furthermore, insurance underwriting at the time viewed risk as static, evaluating risk at policy inception and failing to take into account the human behaviours which have the greatest impact on health. These factors created great potential for adverse selection and medical inflation, and required an innovative approach with greater focus on prevention. This translated into a core purpose for Discovery – to make people healthier – a compelling ‘why’ that was central to the organisation from the get–go. The ‘how’ is our Vitality Shared-Value

Top500 9th Edition 9

Insurance model, which tracks and rewards

HOW DO YOU SEE TECHNOLOGY

healthy behaviour to create and share value

IMPACTING ON DISCOVERY’S

with customers and society. The model

PRODUCTS AND THEIR DELIVERY?

guides and incentivises people to better health and driving behaviour, then measures engagement in these activities, and enables the dynamic pricing of risk accordingly. Independent research has shown that those engaging with the Vitality Shared-Value Insurance model live longer and have lower healthcare costs, resulting in improved profitability, a portion of which is channelled back into funding the incentives that drive positive behaviour change – creating a virtuous cycle. Society and partner insurers’ recognition of the efficacy and impact of this model has been the driver of our growth. PLEASE OUTLINE WHAT BENEFITS PEOPLE CAN LOOK FORWARD TO WITH THE LAUNCH OF DISCOVERY BANK IN 2018. While we cannot share too much detail, good progress is being made in developing the system infrastructure, operating processes, regulatory engagement and the customer value proposition. We anticipate being in a position to launch our proposed banking offering during 2018.

We see technology as a profound enabler of insurance, with one example being the explosion of wearables and health tracking technology. A key way we have built on this trend is by creating a platform for tracking and rewarding physical activity, called Vitality Active Rewards, which has seen phenomenal uptake and engagement globally. More than two million clients around the world redeem more than 12 million weekly rewards consisting of meals, coffee, and vouchers, for achieving their activity targets. This has resulted in a significant increase in physical activity among members, and improvement of their insurance risk profile. Part of this benefit is a global partnership with Apple – Vitality Active Rewards with Apple Watch – which combines Apple Watch with incentives to encourage healthy behaviour. Vitality members’ engagement with Apple Watch generates an actuarial surplus, which is used to fund the cost of Apple Watch for highly-engaged members. We have a similar Active

Rewards

programme

for

Insure

customers, who get weekly rewards for good driving behaviour. These constructs are made possible through the innovative use of mobile app, smartwatch and telematics technology.

“WE HAVE SET UP AN SME FUND TO PROVIDE FINANCIAL, TECHNICAL AND MENTORSHIP TO HIGH POTENTIAL SMES, AS THEY ARE CRITICAL TO INCREASING GROWTH AND EMPLOYMENT IN THE COUNTRY”

From a service perspective, we are using artificial intelligence by means of a Discovery chat bot for customer queries, creating operational

efficiencies

providing

real-time insight for enhanced products and servicing. We have also created South Africa’s

first

and

most

comprehensive

electronic health record, HealthID, providing health professionals with a complete view of their patient’s health history – it now has over 4 400 monthly doctor users and 1.37 million member consents.

10 Top500 9th Edition

and

FUTURE FIT – ADRIAN GORE DISRUPTOR PAR EXCELLENCE

EDITORIAL

“THE WHOLE JOURNEY HAS BEEN A HIGHLIGHT. WHEN YOU’VE HAD THE PRIVILEGE OF BUILDING AN ORGANISATION FROM THE START, EVERY DEVELOPMENT FEELS SIGNIFICANT – THE GROWTH HAS BEEN CONSTANT AND EXCITING”

Finally, DrConnect (a partnership with HealthTap) gives Discovery

The private sector has already raised commitments of approximately

Health members access to trusted health advice from the best

R1.4-billion. In addition, the fund will provide best-of-breed mentors

doctors in the world, anywhere at anytime.

and professional services to help high-potential SMEs continue to grow and scale.

YOU ARE THE EX-CHAIR OF THE SOUTH AFRICAN CHAPTER OF ENDEAVOR – A GLOBAL NON-PROFIT ORGANISATION

YOU ARE AN OPTIMIST ABOUT LIVING AND WORKING

THAT IDENTIFIES AND ASSISTS HIGH-GROWTH

IN AFRICA. HAVING A POSITIVE OUTLOOK IMPACTS ON

ENTREPRENEURS. PLEASE SPEAK ABOUT HOW INVESTING

WELLNESS – WHAT DO YOU THINK NEEDS TO HAPPEN FOR

IN SCALE-UPS THROUGH MENTORSHIP, FUNDING AND

OPTIMISM TO GO VIRAL?

INSTITUTIONAL SUPPORT RESULTS IN GROWING THE ECONOMY.

It is both a macro issue and personal, behavioural choice. While we face many challenges in our country currently, with much to be done

We have set up an SME fund to provide financial, technical and

to overcome them, South Africa is also often negatively framed,

mentorship to high-potential SMEs, as they are critical to increasing

with a disproportionate focus on our problems, in spite of progress.

growth and employment in the country. This is because they are

For example, over the years we have faced the HIV epidemic,

the only vehicle for creating jobs at the quantum required, as big

Eskom blackouts, xenophobia etc. – which, while they remain

business is focused on efficiencies, and government needs to

pressing issues, we have made great progress in solving. There is

manage its budgetary constraints. Getting SMEs growing is of

an overwhelming sense of declinism in South Africa (although this

absolute importance, and if we can move the needle significantly

is a universal phenomenon) whereby people think the country is

through the fund’s activities, it can be very powerful.

becoming worse off, when actually statistics show that in the last 20 years, dramatically more people have access to formal housing; the

The goal of the fund is to be additive to the current ecosystem

JSE is 10 times bigger; poverty has more than halved; and nominal

of SME support. To this end, we will work through the existing

GDP has gone up nearly six times. People underrate how well we’ve

landscape of funders, with the fund accrediting intermediaries

done in SA.

(e.g. existing venture capital or private equity players) who will in turn apply for tranches of funding for their deals and/or portfolios.

Top500 9th Edition 11

On a personal level, we are primed by our instincts to respond to

So remaining positive is not a naïve dismissal of our challenges

negative signals. This is because in the thousands of years before

in South Africa – or in Africa more broadly – but choosing a

civilisation, in an environment of physical threat and resource

sophisticated response and considering the good with the bad.

scarcity, we had to be primed for negative signals to survive hazards

Looking for positive signals can become an important

like famine or attacks by predators. However, in today’s world, our greatest threats are not physical but systemic (corruption, unemployment) and not scarcity but abundance (diseases of excess e.g. smoking, drinking too much). But while our environment has changed, our genetic coding has not kept up with these changes, and as such remains skewed to respond to negative signals. It is an unsophisticated evolutionary response to a drastically different world. To counter this, we need to adopt a sophisticated approach of seeking out the positive signals along with the negative, in order to draw the right conclusions.

“ATTITUDE IS ESSENTIAL”

WHO OR WHAT INSPIRES YOU? My team at Discovery inspires me. Creating change and building something of scale which positively impacts society has been a great joy and inspiration. WHO IS YOUR FAVOURITE AUTHOR? WHAT BOOKS ARE YOU READING? Currently I am reading The Platform Revolution by Parker, Van Alstyne, and Choudary. Generally, however, I prefer shorter reads such as journal articles. I am also an avid reader of The Economist, Scientific American and Financial Times.

12 Top500 9th Edition

FUTURE FIT – ADRIAN GORE DISRUPTOR PAR EXCELLENCE

EDITORIAL

WHAT FIVE PIECES OF ADVICE WOULD YOU GIVE TO ASPIRING YOUNG BUSINESS STARTERS?

It’s critical for your business to have a purpose – great organisations are those focused on helping to solve society’s problems.

rgency is key – you have less time U than you think to achieve what you need to. People wait around with unused potential because they overestimate how much time they have left. Time is short, and successful people know this.

Dreaming and setting goals is fundamental to success. It’s about more than a business plan – it is a vision about the legacy you want to leave, and clear goals to get there.

Attitude is essential – I keep relearning that positivity and optimism are the most powerful fuel of all.

Finally there’s honesty and integrity – without them you won’t build a sustainable business.

“MY TEAM AT DISCOVERY INSPIRES ME. CREATING CHANGE AND BUILDING SOMETHING OF SCALE WHICH POSITIVELY IMPACTS SOCIETY HAS BEEN A GREAT JOY AND INSPIRATION.”

Top500 9th Edition 13

IN CONVERSATION WITH FRANCOIS GROEPE, DEPUTY GOVERNOR OF THE SOUTH AFRICAN RESERVE BANK BY FIONA WAKELIN

In 2016 alone, the South African Reserve Bank (SARB) processed

settlement system, better known as the South African Multiple

payments to the value of R140-trillion – 30 times the gross domestic

Option Settlement (SAMOS) system. SAMOS allows all interbank

product (GDP) of South Africa. Significant change has occurred in

transactions to be settled in central-bank money and ensures that

the financial services space recently, attracting much interest in

all interbank payments become final and irrevocable; it concludes

these innovations. The Deputy Governor of the SARB responsible

economic transactions between parties, thus ensuring that legal

for financial stability shares his views.

certainty is achieved.

MANY SOUTH AFRICANS ARE AWARE THAT THE

South Africa’s national payment system is made up of various

SARB PRINTS MONEY, BUT NOT MANY KNOW ABOUT THE NATIONAL PAYMENT SYSTEM. WHAT IS THE

SARB’S ROLE IN THE SYSTEM AND HOW IS IT LINKED TO ITS MANDATE TO PROTECT THE VALUE OF THE CURRENCY?

payment streams within the large-value payment systems and the more familiar retail payment systems. These payment streams include cheques, cards, and electronic fund transfers such as Internet payments and debit orders.

The SARB is responsible for establishing, conducting, monitoring,

The SARB plays an important role in ensuring that the payments

regulating, and supervising all the payment, clearing, and

financial market infrastructure remains efficient and safe, thus

settlement systems in South Africa. It executes this mandate

supporting the SARB’s role in maintaining financial stability and

through its National Payment System Department (NPSD). NPSD

ensuring the public’s confidence in the financial system.

is the owner and operator of South Africa’s real-time gross

14 Top500 9th Edition

RESERVE BANK

EDITORIAL

stability. An Information Technology (IT) Risk Division was established in 2012 with the primary responsibility of looking at IT risks for the banking industry. While conducting on-site visits to banks, this division has addressed various IT governance topics, including information security and cybersecurity. In 2013, the SARB assessed mobile-devices and InternetFrancois Groepe, Deputy Governor of the South African Reserve Bank, on Fintech

banking fraud in the South African banking industry. No significant findings were made, other than the need for

a more collaborative approach between the banks and other industry players, including critical infrastructure providers. Also in 2013, a short IT survey was issued to the industry, touching on some aspects of information security. In 2015, a more substantive survey was issued, covering both information security and enterprise architecture management. Neither survey highlighted any material weaknesses, although the need to be constantly aware of new modi operandi in the cybersecurity space was emphasised. Cybersecurity was subsequently added as a topic for discussion with banksâ&#x20AC;&#x2122; boards of directors. From a regulatory perspective, the SARB applies international principles, such as those in the Basel frameworks, to the South African context. In 2016, the Committee on Payments and Market Infrastructures as well as the International Organization of Securities Commissions, issued cyberresilience guidance for financial market infrastructures. The SARB issued these guidelines as a guidance note to the banking industry. Maintaining payment security is required of all entities that store, process, or transmit cardholder data. In terms of retail payment systems, the SARB, through the Payments Association of South Africa, requires all banks, system operators, and certain merchants who store, process

TECHNOLOGY IS DISRUPTING

or transmit card information to adhere to the Payment Card Industry Data Security Standards.

LIFE AS WE KNOW IT ON A

DAILY BASIS. HOW IS THE SARB, IN ITS MULTIPLE ROLES IN THE

FINANCIAL SECTOR, ENSURING THAT THE BANKING SYSTEM IS CYBER-SECURE? The

SARB

addresses

cybersecurity

through the microprudential supervision of banks, the macroprudential regulation of the financial system, and oversight of the financial market infrastructure. The

SARB

responsible

for

Cross-functional working groups within the SARB are currently considering how to make the financial system more cyber-secure. This includes looking at regulation, incident reporting, and responding to incidents. The SARB also collaborates with role players such as the South African Banking Risk Information Centre on their cybersecurity initiatives, and engages with financial industry computer security incident response teams. As part of its responsibility to protect and enhance financial stability, the SARB also manages cyber-risk through the Financial Sector Contingency Forum (FSCF), which has become a statutory body in terms of the newly enacted Financial Sector Regulation (FSR). The FSCF comprises key financial sector decision-makers, including the SARB, National Treasury, other financial-sector regulators, financial market infrastructures, and financial industry associations.

the

regulation and supervision of banks in South Africa. One of its functions is promoting the soundness of the banking system and contributing to financial

The FSCF was established to help coordinate the process of financial sector contingency planning and crisis management. In terms of the FSR Act, the forumâ&#x20AC;&#x2122;s objectives include the identification of potential threats to the stability of the South African financial system as well as the development and coordination of appropriate plans, mechanisms, and structures to mitigate these threats.

Top500 9th Edition 15

general acceptance of crypto-currencies remains negligible, most probably due to their ‘private issuance’. Although their acceptance is growing (there are approximately 100 000 merchants that accept crypto-currencies), the numbers pale in comparison to other forms of money. Trust in a currency is a fundamental characteristic of money, including the trust in the entity responsible for protecting its underlying value. Characteristics such as widespread acceptance, being a stable store of value (i.e. limited volatility of the currency), simplicity as well as transparency in understanding how value is Cybersecurity forms part of the FSCF’s focus and is a standing item on its agenda. Additionally, as part of its ongoing efforts in contingency planning for systemic financial crises, the FSCF conducts regular simulation exercises involving all key participants in the financial sector. The next simulation exercise is being planned for the fourth quarter of 2017, and while the scenarios to be tested have not been finalised yet, it is likely that cybersecurity

created, may be the critical fundamentals that influence the use of crypto-currencies over time. For regulators, the key questions centre around the safety and efficiency of such systems compared to the current payment systems. Matters being debated include legal certainty of settlement, governance around crypto-currencies’ protocols,

will be included.

transparency with regards to the purpose and legitimacy of

The SARB hosted its first cybersecurity conference in August 2016,

high-volume flows are considered.

themed ‘Collaboration for building cyber-resilience’, which was

payment flows, and operational efficiency considerations when

well attended.

WHAT IS THE SARB’S REGULATORY RESPONSE TO THE

WHAT IS YOUR OPINION OF CRYPTO-CURRENCIES

Crypto-currencies are private electronic or digital currencies that

intergovernmental

AND THEIR ROLE IN THE FUTURE?

generally operate without the guarantee of a central bank. They are associated with the Internet and use cryptography, the process of converting readable information into an undecipherable code, to track every purchase or transfer. Cryptography is used to secure the transactions and to control the creation of new virtual money. Crypto-currencies have grown in form and variety since the release of the Bitcoin white paper in 2008. And although their volume has been increasing, crypto-currencies still make up a very small percentage of the global volume of money compared to the ‘traditional money’ issued by central banks. The current value of more than 800 different virtual currencies is approximately US$84-billion. This is significantly lower than the current value of all the physical money in circulation (worth about US$31-trillion). Virtual currencies are nevertheless emerging as a new form of money and a new ‘store of value’ that is ‘held’ within a network of computers. In many countries, the purchasers and users of cryptocurrencies do so at their own risk, as these currencies operate

GROWING FINTECH COMMUNITY IN SOUTH AFRICA? South

Africa,

the

SARB’s

involvement

monitoring

Fintech innovation started in 2013 when it joined an informal working

group.

Established

better

understand virtual currencies and their regulatory implications, this working group consisted of National Treasury, the Financial Intelligence Centre, the South African Revenue Service, and the SARB. In 2014, the group issued a user alert on virtual currencies through National Treasury. Later that same year, the SARB issued a position paper on virtual currencies. In 2016, the SARB established an internal Virtual Currencies and Distributed Ledger Technology (DLT) working group. Recognising the evolution of crypto-currencies, the SARB tasked this crossdisciplinary working group to research and analyse the evolution of user cases of emerging technologies, including DLT and blockchain. The main objective was to gain a better understanding of the underlying DLT and smart contracts that leverage these emerging technologies. The SARB accepts that Fintech extends beyond virtual currencies and DLT. It has therefore recently established a broader Fintech

independently from central banks.

programme with three full-time staff members, required to

Despite being electronic and therefore universally accessible, the

related user cases. They are also expected to facilitate the

16 Top500 9th Edition

strategically review the emergence of Fintech and assess the

RESERVE BANK development of refreshed policy stances for the SARB across the Fintech domain, analysing both the pros and the cons of emerging innovations as well as the appropriate regulatory responses to these developments.

EDITORIAL

EARLIER THIS YEAR, YOU WERE REAPPOINTED AS

DEPUTY GOVERNOR FOR ANOTHER FIVE-YEAR TERM. WHAT CHANGES DO YOU FORESEE IN THE SOUTH AFRICAN FINANCIAL LANDSCAPE BY 2022?

Given the rapid evolution of technology, shifting consumer A critical success factor of the Fintech programme will be ongoing

preferences as well as new entrants providing innovative financial

collaboration with our fellow regulators. The SARB continues to work

services, changes in the financial landscape are difficult to predict

closely with National Treasury, the Financial Services Board, and

with any level of certainty. However, these factors may lead to the

the Financial Intelligence Centre in an intergovernmental Fintech

following scenarios:

working group. Together, we will determine the appropriateness of regulatory frameworks and review how these frameworks

First, expect a more sustained level of pressure on margins in the

can strengthen policy goals such as financial inclusion and the

provision of financial services. With the growing number of new

deepening of competition.

entrants, banks will have to differentiate their products and ensure that their services are more readily available, of a continuing high

Besides collaborating locally, the SARB actively participates in

quality, safe, and cost-effective.

international regulatory and standard-setting bodies. The various working groups at the Financial Stability Board and the Bank

Second, through the ever-increasing adoption of new technologies,

for International Settlements have been proactive in trying to

customers will require on-demand, real-time services. At the

understand the Fintech phenomenon and exploring its benefits,

moment, it seems that most of these services will be delivered

risks, and appropriate regulatory frameworks. The SARB has

through mobile devices and customised cloud-based solutions.

contributed a paper, recently published, on assessing DLT and its

Decentralised solutions utilising distributed ledger models will

impact on payments and securities markets. Additional work has

compete with traditional centralised infrastructures.

also been published on the impact of Fintech on financial stability. In addition, work continues on matters such as machine learning,

Third, customer acquisition, on-boarding and the provision

artificial intelligence, and digital currencies issued by central banks.

of products (e.g. savings, payments, lending, insurance and

Global collaboration is vital to keep pace with these developments.

investments) will be linked to ‘Big Data’ available through customers’

The SARB is committed to staying abreast of and contributing to

online presence and personas, reducing information asymmetries

global thought leadership on Fintech.

significantly. This will most likely translate into customised and

HOW DOES THE BANK ENSURE THAT ITS

REGULATIONS DO NOT STIFLE INNOVATION AND FINANCIAL INCLUSION?

idiosyncratic offerings at reduced prices. Fourth, regulatory frameworks will need to keep pace as the speed of innovation and technology development will require greater

Regulations must be purposeful, balanced, and congruent with

collaboration among regulators, locally and internationally, as well

policy objectives such as the safety, soundness, and stability

as constant engagement with industry and stakeholders.

of financial systems. However, authorities should aim to draft regulations that do not stifle competition and innovation but

Lastly, service providers’ competitive strategies and choices through

rather broaden access to financial services while balancing risk

the use of emerging technologies, e.g. deep machine learning

considerations. Regulators are acutely aware of the policy trade-

and quantum computing, will probably lead to unpredictable and

off of lowering risk through regulatory frameworks while creating

unintended consequences. This, in turn, will lead to ongoing global

conditions conducive for innovation to thrive at the same time.

dialogue and collaboration among regulators through standardsetting bodies to continue developing regulatory standards aimed

Financial inclusion is an equally important objective; its deepening

at improving the soundness and stability of individual institutions

should be pursued while limiting the financial stability risks to the

and entire financial systems.

wider financial system. Policy formulation aims to balance the social objectives of financial inclusion and deepening as well as increased competition, with limiting any risks to financial stability.

Top500 9th Edition 17

ALL HAIL THE

SOLOMON AN INTERVIEW WITH BUSINESS MAGNATE SOL KERZNER

BY ANTON PRETORIUS

e’s been called many things: charismatic, blunt, controversial, notorious, genius, ‘South Africa’s Donald Trump,’ and more commonly, the ‘Sun King’. But despite what you might think of South Africa’s most famous billionaire

and legendary hotelier, Sol Kerzner remains undoubtedly, a true business visionary. The sweet fruits of my persistence came via a phone call from London on a cold and miserable morning in the Mother City. It was the empire headquarters. After weeks of relentless nagging, I finally crack an interview with arguably one of the world’s most revered and renowned business tycoons. I’m summoned to his lair in Hout Bay. “Don’t be late,” came the warning from his private office in London. The lush and opulent 120-hectare Leeukoppie Estate, purchased by Sol in 1983 for little less than R3-million (Ed – barely the price of a twobed in Sea Point today) is nestled snugly between the seaside villages of Llandudno and Hout Bay, the playground of South Africa’s elite.

26 Top500 9th Edition

ALL HAIL THE ‘SUN KING’ SOLOMON

EDITORIAL

estate’s electricity supply. I am ushered through

While there was a lot of scepticism at the time,

the manor house to a quiet dining room where

the site in Umhlanga had great selling points.

I’m left to wait and dwell in the dark.

Not only was it within close proximity to Durban, but Sol loved the idea of building a hotel right

Rapid footfalls announced the King’s arrival.

on the beachfront. “There was no road like a

Despite being 5’6” tall, I could immediately feel

marine parade that separated guests from the

his presence filling up the room. At the ripe age

beach. That was the trend overseas, and I used

of 82, Sol is comely, swarthy and regal-looking

it to my advantage.” The Beverly Hills became

– and carries his years with grace.

the country’s first five-star hotel and Sol’s first taste of the industry in which he was to make

He shakes my hand firmly while two piercing, When offered an opportunity to pick the brain of a billionaire business mogul and legendary hotelier like Sol Kerzner, you know you’re likely to extract some valuable business insight. In a career spanning nearly 60 years, Sol’s success as a developer, entrepreneur and visionary is unrivalled. It was mining for gold. Heading down the ‘mindshaft’ (see what I did there) of Sol Kerzner and excavating valuable ounces of business advice was an intoxicating prospect. As a reporter, it would appear that for once, the gods were smiling on me. But when scenes of chaos greeted me at the gate and a familiar sense of dread crept up my spine, I knew somewhere in the universe, someone was laughing hysterically. I can now grudgingly admit that the god’s jape was a funny one.

“MY FIRST ENCOUNTER WITH THE ‘SUN KING’ WAS TO COMMENCE IN DARKNESS. ONE OF AFRICA’S MOST POWERFUL BUSINESSMEN INTERVIEWED DURING A POWER OUTAGE” My suspicions were confirmed when estate manager, Yvonne, pointed out the obvious culprit: The construction of Kerzner’s new 48-house, top-end residential development on the property was wreaking havoc on the

bright-blue chips of flint study me carefully. Without being excessively remorseful, he apologises for the light, or lack thereof and

his fortune.

BUILDING AN EMPIRE

At the time, the global resort industry was in its

urges me to take a seat. “Would you like

infancy, but growing rapidly. In South Africa, it

anything to drink?” he asks. I refrain. He insists.

was virtually non-existent. Kerzner had never

We both order a sparkling water and get down

been abroad, but after many hours obsessing

to brass tacks.

over a collection of brochures from holiday

FROM HUMBLE BEGINNINGS…

destinations like Miami and Hawaii, he knew he was onto something. Looking around Durban,

Sol’s life is a classic rags-to-riches story. Born in

Sol realised South Africa wasn’t even in the

the poor Johannesburg suburb of Troyville, he

same ballpark, never mind the same league.

was the youngest of four children from a family of Jewish-Polish immigrants. Being Jewish (and

“Despite the constant scepticism, I always had

not particularly big) often made him the target

confidence and belief that South Africa should

of bullies. As a result, Sol took up the sport of

do as well as any country in the resort game.”

boxing to defend himself, and later became

With the bulldozers on site and the ground

welterweight champion at the University of

already levelled, Sol needed affirmation, so he

Witwatersrand, where he also qualified as a

took his first ever international business trip. He

chartered accountant.

recalls vivid memories of that experience.

After graduation, Sol and his family moved

“I flew to New York and straight down to

to Durban. At 24, he was promoted to junior

Miami. I asked the cab driver to show me every

partner at a big auditing firm, but it wasn’t the

single hotel on the beachfront, and he did. We

life he envisioned for himself. His story begins

finished at 2 am the next morning. Over dinner

with how he set aside his auditing career to

at a deli in downtown Miami, I said to him: “You

pursue a much bigger dream, “To build South

can take me back now. I’ve seen enough.” I was

Africa’s first great hotel.”

convinced that what we were doing back home was spot on.”

In 1964, he bought an old beach cottage right on the Umhlanga beachfront near Durban.

Sol had other memories of that trip too. He

There, he built the famous 88-room Beverly

remembers a crying female elevator operator in

Hills Hotel with a hefty price tag of R1-million at

the hotel. “I asked what’s wrong? ‘Our President

the time. “Today, you can barely build one hotel

has just been shot.’ It was 22 November 1963,

room for R1-million,” Sol points out.

the day John F. Kennedy was assassinated.”

Top500 9th Edition 19

“AS FAR AS SOL WAS CONCERNED, SUN CITY WAS NOT A REPRESENTATION OF OPPRESSION, BUT RATHER A TEMPLE OF LIBERATION WHERE BLACK AND WHITE FOLK COULD FIND COLLECTIVE PLEASURE “ The Beverly Hills Hotel became a success

shoulders above the rest. I always felt that

He speaks favourably of Mangope: “I have

overnight, but Sol showed no signs of

the market in South Africa would recognise

respect for the man. He really wanted the

slowing down. He almost immediately

something that was ahead of its time.”

best for his people and he saw Sun City as a

began his next project: The Elangeni Hotel in Durban. “It was a much larger operation. I gained a lot more credibility and confidence

THE POLITICAL ‘SIN CITY’

great opportunity for bolstering tourism and creating jobs.”

I had to ask him about Sun City, probably his

and the project attracted a lot of new

most significant breakthrough. The world-

I asked him about Sun City’s impact on the

investors. It was a real breakthrough for me.”

renowned resort, located 150 km north west

country during the time. “We built a man-

of Johannesburg, managed to put a country

made lake, a great 18-hole golf course

The most significant investment came from

on the map in the midst of intense and

and a 350-room hotel and casino from

South African Breweries, who approached

violent political turmoil.

scratch. Together with the Bophuthatswana government, we developed the Pilanesberg

Kerzner, displaying a keen interest in his business acumen. Together, they founded

It started when the apartheid government

game park. Nicklaus played golf there,

one of South Africa’s largest hotel groups,

began bestowing ‘independence’ on its

Sinatra sung there. It made sense to have a

Southern Sun (now Tsogo Sun). Kerzner later

black homelands. Sol had politicians from

resort built in South Africa – a place where

founded the Sun International Group, which

both sides of the fence eating out of his

everyone could find enjoyment.”

became one of the greatest success stories

hand. Trading on the situation, he met with

in the history of South Africa’s hospitality

and pitched the idea of Sun City to the then-

Sun City’s four hotels, two Gary Player golf

industry. In 1975, he moved into the realm

leader of Bophuthatswana, Lucas Mangope.

courses, casino and entertainment centre,

of international tourism with the creation

“There were many suitors knocking at

including a spectacular man-made lake

of Le Saint Géran in Mauritius. Every new

Mangope’s door competing for casino

and rainforest took ten years to complete. It

achievement sharpened his appetite for

rights,” he says.

officially opened its doors in 1979, and Sol remembers it like it was yesterday.

more. No dream was too ambitious for the man whose imagination had no boundaries.

During that fateful meeting, Sol showed Mangope and his cabinet an audio/visual

“It was a Friday afternoon and everyone

“I had the opportunity to take the local

presentation depicting the Sun City concept.

arrived at once. I was called to reception

hospitality industry to a whole new level,

“I remember there was dead silence. They

and it was chaos. My personnel completely

especially on the resort side. People loved

were completely blown away. Mangope

froze, overwhelmed by the masses. I ran

what we were doing and it stood head and

gave us the concession right there and then.”

to the back, and started dealing with the

20 Top500 9th Edition

ALL HAIL THE ‘SUN KING’ SOLOMON

EDITORIAL

reservations and allocating rooms. It was hectic,” says Sol, a self-confessed workaholic, renowned for being ‘hands-on’ when it comes to business. Everyone

(including

himself)

grossly

underestimated the 15 000 people who arrived during the opening weekend, curious to witness and experience ‘Africa’s Kingdom of Pleasure’. “On the Saturday, we had to bar the doors. I had to explain to the masses that it had become a safety issue. Luckily, people were very understanding,” he says. Sun City’s meteoric rise was legendary. The resort drew more than 25 000 visitors on some weekends, but it also attracted a lot of political attention. To outsiders, Sun City became ‘Sin City’ — a monument that represented the worst excesses of apartheid and often the target of anti-apartheid campaigners. But on the contrary, Sol believed that the amount of international coverage Sun City generated

showed

the

world,

including

the apartheid government and right-wing extremists that both black and white South Africans could live together in harmony. “Sun City made international headlines. I remember the team from CBS’s 60-Minutes arriving at the resort. My manager asked me what we should do? I told him to let them in and give them carte blanche. We had nothing to hide.” As far as Sol was concerned, Sun City was not a representation of oppression, but rather a temple of liberation where black and white folk could find collective pleasure. Although the 60-Minutes TV crew came looking for controversy, he says he’ll never forget the news anchor’s closing words during the aired broadcast. “He asked whether Sun City is a good or bad thing? There were strong arguments on both sides. But he said: ‘One thing is for certain, even the right-wing Afrikaner that visits Sun City must believe

that white and black folk can live together

to negotiate terms. They agreed to host the

peacefully.’ We couldn’t single-handedly bring

fight on condition that government allow both

down the apartheid regime, but I took joy

black and white South Africans to attend the

in knowing that every right-wing extremist

fight without any form of discrimination or

who visited Sun City had to realise that racial

segregation. The agreement was met. But the

integration was possible in South Africa.”

business mogul went one step further and insisted that prime minister PW Botha and his

While the country was shrouded in a dark cloud

cabinet sign an agreement that allowed black

of political controversy, Sun City quietly made

and white audiences in South Africa to attend

Sol Kerzner a rich man in Africa. And while he

sport matches in a fully integrated manner,

was a businessman, not a politician, there’s no

from now until forever. It was an agreement the

doubt that he took tremendous pleasure in

apartheid government begrudgingly upheld.

unravelling the racial threads of the apartheid regime that put a stranglehold on the country. Not many people realise this, but Sol played a major role in establishing SA’s first racially integrated sports event, paving the way for a nation unified by sport. It was 1979 — fifteen years before the country’s independence — and South African boxer Gerrie Coetzee was to fight ‘Big’ John Tate for the heavyweight title at Loftus Versfeld in Pretoria. The event was hosted by Sol. But the fight put South Africa (and its apartheid agenda) back in the global spotlight. Sol remembers how a furious Rev. Jesse Jackson and a squadron of press members stormed into his office, threatening to boycott the fight due to the apartheid government’s segregation laws. You see, Sol knew that everyone, including the apartheid government, badly wanted to see Coetzee become world champion, and he quickly capitalised on the opportunity. Using his business influence, Sol and legendary boxing promoter Bob Arum met with government

“I TRULY BELIEVED THAT IT WAS THE RIGHT THING TO DO. THAT BOXING MATCH WAS THE CATALYST FOR UNIFIED SPORTS MATCHES IN SOUTH AFRICA” The high-flying tycoon made many celebrity friends along the way too, including the likes of Michael Douglas, Shirley Bassey, Liza Minnelli, Michael Jackson, Elton John and ‘Ol Blue Eyes’, Frank Sinatra. Despite cultural boycotts, Sol got Sinatra to perform at the opening of his 6 000-seater Super Bowl Entertainment Centre in Sun City. Sol wanted to prove to the world that Sun City was free from the oppressions of apartheid. He knew that a performance from Frank Sinatra would signify that. “Sinatra was the one celebrity whose political beliefs could never be questioned. It took me nine months to get him here. I worked through his lawyer at the time, Mickey Rudin, who made several visits. We showed him that Sun City was open to all with no discriminatory practices whatsoever.”

Top500 9th Edition 21

habitats, which became a massive attraction. “The resort helped re-establish Paradise Island, an important holiday destination in the US market,” Sol says. “The oceans and sea life around Paradise Island was incredible and I said: ‘Why not bring the ocean to the resort?’ We cleaned up the canals, brought in the lagoon, introduced fish habitats and sharks. It was an immediate success. But we did a lot of work on it, it wasn’t easy. We started with 1 100 keys and ended up with 4 000 keys over a 12-year period.” Atlantis Resort boasts a 5 000-square metre casino, 25 hectares of pools, a marine animal park, a six-storey Mayan temple and 35 restaurants run under the names of some of the most sought after chefs in the

“MADIBA AND I BECAME CLOSE FRIENDS…”

were the likes of Hillary Clinton, Al Gore and

world. It is the nation’s second largest employer

Muammar Gaddafi.

after the government. Atlantis Resort proved to

reached out to Sol to facilitate a treaty with

Sol was eager to expand his international

the hotel through years of building phases,

empire and relocated his operations to

renovations and upgrades.

Shortly after his release from prison, Mandela

Mangope and isiZulu leader, Mangosuthu Buthelezi. After four years of negotiations, Sol finally brought Buthelezi into the fold, but Mangope remained resistant. Sol says that Mandela wanted them to understand that his goal was to create a united South Africa. “Whether they were independent or not. Buthelezi saw the sense in that and agreed. Mangope was more reluctant.” Kerzner and Mandela became very good friends after that.

be a massive success for Sol, who transformed

London in 1987. Besides establishing gaming operations in France, Sol also developed the Le Saint Géran Hotel in Mauritius and several

ON A PERSONAL NOTE…

Through his extraordinary vision for building

other hotel chains in places like Mexico and

and establishing world-class resorts and hotels,

Dubai. But during the early 90s, Sol embarked

the Sun King has had a profound impact on the

on his biggest and most extravagant project yet

tourism industries of his homeland South Africa

– Atlantis.

and other exotic destinations like the Maldives,

THE KING OF ATLANTIS

Morocco and the Bahamas.

In the years that followed, Sol built up an

While Sol’s empire expanded, so too did

unsurpassed empire that stretched across four

Kerzner’s family. He’s been married four

continents. But his resort in Paradise Island,

times and blessed with five children and ten

Bahamas (once owned by US President Donald

grandchildren. But he’s also no stranger to

Trump and entrepreneur Merv Griffin) that had

heartbreak and tragedy. In 1978, his second

gone bankrupt before he took it over, was a firm

wife, Shirley, committed suicide, from which

favourite. “I had fun with Atlantis. I remember

close sources say he never fully recovered. His

the lawyer phoning me up and asking if I’ve

son, Butch (Howard) — whom he groomed to

ever been to Paradise Island in the Bahamas.

take over the business — had a flair reminiscent

lunch.”

I said yes, I remember it. The beaches were

of his father’s. But in 2006, Butch died in a

spectacular, the waters were incredible, but the

helicopter crash while overlooking potential

Sol roped in his people at Sun City, erected a

hotel was rubbish.” After two years of constant

development sites in the Dominican Republic.

Sol describes him as an “amazing individual who wanted to embrace every South African.” When Mandela’s big inauguration was to take place at his residence in Pretoria, Sol was asked to handle the logistics. “It was a big event. Rusty Evans [then director-general of foreign affairs] asked me to cater for the nearly one thousand world leaders and politicians who confirmed their attendance for Mandela’s inauguration

massive, specially tailored tent and catered for all 1 000 delegates at that momentous occasion. “My friend Buddy Horton and I were the only businessmen in attendance, the rest

22 Top500 9th Edition

negotiations with the Bahamian government and lawyers, Sol finally closed the deal in

By 1985, Sol’s third marriage to South Africa’s

1994. He immediately undertook a significant

first Miss World, Anneline Kriel ended. They

renovation of the hotel and building of the fish

remained

good

friends

despite

rumours

EDITORIAL

ALL HAIL THE ‘SUN KING’ SOLOMON

a Jumbo jet and flew 200 of his friends to Mauritius were true. He chuckles, leans in and says:

“YES, IT’S TRUE. FIRST CLASS WAS RESERVED FOR GAMING. THE STEWARDESSES TURNED OUT TO BE EXOTIC DANCERS, WHO PERFORMED ‘HEY BIG SPENDER’ FOR ME. THAT WAS A MEMORABLE BIRTHDAY”

SK: The reason for all the uncertainty is obviously related to who will succeed Jacob Zuma. I think it should be someone who would exert a certain amount of confidence and put the country back on a solid political path. The uncertainty is holding us back economically and I’m hoping that the next president can bring political and economic stability.

A QUIETER LIFE…

happy memories of his time with ‘Annie’ and remembers how the couple collectively came upon the sprawling Leeukoppie Estate. “When we got married, Annie told me, ‘I’m not spending one more Christmas in one of your hotels. We need a holiday home in the Cape.’ On the Saturday, Pam Golding showed us a dozen properties, and I didn’t like any of them.” But on the way to the airport, Golding took Sol and Annie to view a property in Hout Bay. “Hout Bay?” Sol asked incredulously. “Out there in the sticks? I remember camping and hiking there as a kid.” But Sol fell in love with the property almost immediately. “Driving up the estate I knew this was a special place. The cottage was hardly worth a look, but the property was just spectacular.” The following day, Sol put in an offer, but after much deliberation, he put Pam Golding and the owner on a plane to Johannesburg and concluded the deal within 10 minutes. “That was in 1983, and I’ve been here ever since. It really is a special place.” Today, Sol’s wild lifestyle is well and truly behind him. Having lived through a heart-attack at 47 (due to his “three-pack a day smoking habit”), and no holds barred lifestyle, Sol is still in good shape. I ask him if the reports of his

Q: Care to speculate as to who that might be? SK: Nope… Q: Ok, fair enough. What’s key to staying resilient in the hospitality sector?

now, he’s spending a lot more quality time with

SK: I had great admiration for Conrad Hilton, who coined the phrase: ‘Location, Location, Location.’ It still remains relevant today. But the ability to conceptualise something exciting helps. Never let realism stand in the way of a good theme. Make it mind-boggling huge, and anything that might be perceived as ridiculous will be swallowed whole. Location, and concept design is important, no matter the size of your hotel.

the family. “I’ve got children and grandchildren

Q: Describe your leadership style?

As he settles back into his seat, Sol admits that, of a messy divorce. He continues to have

Q&A WITH KING KERZNER Q: Investors’ confidence is low at the moment. What needs to be done?

at 82 (officially retired for two years) there’s been a noticeable slowdown in his life’s tempo. “I have to be realistic these days. I can’t go off and conquer the world like I used to.” Right

all over the world, but it’s nice spending time

He’s constructing an exclusive residential

SK: A leader is someone who would do whatever is necessary to ensure they’re surrounded by the best possible team. A team that can effectively communicate with personnel will get the best out of any business. People form a business. I always made a point of recognising the good work of staff. Surround yourself with the right people and understand your product.

development with 48 high-end homes planned,

Q: How important is tourism for the economy?

with them at Leeukoppie.” He does confess, however, that the current development on his estate is keeping him rather busy.

each averaging between 350 m2 and 550 m². “There’s a strong focus on being eco-friendly too,” he adds. Residents will have access to an array of facilities and services like gyms, airport shuttles, grocery deliveries, housekeeping, catering and even horse-riding lessons at the

SK: It’s very important. Take Sun City for example. We worked closely with government at the time, as it was in both our interests. It built a town and created thousands of jobs for people from surrounding communities. The Atlantis resort in the Bahamas was the country’s biggest employer after the government.

estate’s stables and a scenic walk through the

Q:Your biggest wish for South Africa?

estate to Sandy Bay. Sol says construction is

SK: My biggest wish is for political stability. Things are very uncertain at the moment. This is a country with great resources and natural beauty. Good leadership is key if you want to inspire confidence and see the country flourish.

coming along nicely and property sales will open in February 2018. As we conclude the interview, he turns to me and says: “Sorry I couldn’t give you more light,” referring to the power outage. I reply: “Trust me Sol, you’ve given me plenty.” With that, I leave Leeukoppie Estate, noticeably richer from a day spent in Sol Kerzner’s ‘gold-mind’.

Q: Advice for aspiring hoteliers? SK: Be prepared to start at the bottom and work your way through to the top. It’s a valuable learning curve. In a business that operates 24/7, you need to be unquestionably dedicated and excited about what you do. Get the best possible experience and learn from it. It also helps to be creative if you want to stay ahead of the competition. BE A LEADER, NOT A FOLLOWER.

50th birthday celebration where he chartered

Top500 9th Edition 23

AN INTERVIEW WITH NANDOâ&#x20AC;&#x2122;S SA CEO

MICHAEL CATHIE BY ELSKE JOUBERT

A PEOPLE-FIRST, CHICKEN-SECOND KIND OF PLACE

EDITORIAL

It was 11:00 on a Friday when we made our way to the Nando’s

they built it into what it is today – an amazing icon of South African

Central Kitchen in Lorentzville. Not native Jo’burgers, we questioned

ingenuity and goodness.

the accuracy of Google maps as it led us through a myriad of twists and turns. Rounding a corner, we saw the recognisable red and

The building we are in now was originally the factory where we used

black of the Nando’s brand and very audibly breathed a sigh of

to produce our sauces many years ago. Our founders felt like this

relief – we were indeed at the right place.

was firstly an amazing heritage to honour, which is why we have remained here, but also to be true to the contribution of the people

We made our way into the building and were immediately taken by

of Lorentzville to the success of Nando’s.

the beautiful, creative office space: art hanging against every wall (all original pieces), beautifully handmade chairs, and statement

I think one of the reasons we are as successful as we are is because

pieces in almost every room. The vibrant, positive energy in the

we honour our heritage and we don’t follow trends necessarily

building was contagious and we soon found that our fatigue had

because the rest of the world is doing it. We ‘zig’ when the rest of

miraculously subsided. We were excited to be there.

the world ‘zags’ and I think because we are in Lorentzville, it does keep us very in tune with our communities. We are not driving into

The Nando’s story is a remarkable one. It all started with peri-peri

Sandton or Bryanston – we’re driving into the heart of the real South

chicken in a small restaurant in Rosettenville three decades ago and

Africa, and that’s why we love it here.

has since grown into a global brand. We chatted to Mike Cathie, CEO of Nando’s SA, who told us more about the Nando’s journey,

NANDO’S IS CLEARLY A BELOVED FAST CASUAL

its heritage and plans for the future.

OUTLET IN SOUTH AFRICA. WHAT, IN YOUR OPINION,

IN THIRTY YEARS, NANDO’S HAS GROWN INTO

COMPANY FROM OTHERS?

A GLOBAL BRAND. CAN YOU TELL US ABOUT THE

JOURNEY THUS FAR – AND PLANS FOR THE FUTURE?

ARE THE THREE KEY THINGS THAT DIFFERENTIATE THE

I think the single biggest thing is authenticity. The brand is a deep brand and it has depth based on a very genuine belief. It helps

We started 30 years ago, not far from where we are now, in

us to remain deeply connected to our customers; it helps us to

Rosettenville, Johannesburg. Two friends with a dream, Robbie and

remain connected to our Nandocas (our employees), as well as our

Fernando, used to meet at that restaurant and eventually decided

communities. Secondly, Nando’s is a brand that always evolves –

that this was the best chicken they’d ever tasted. They wanted to

because of the connection to our customers and employees, we

own it and do more with it. The brand resonated with customers and

are typically always ahead of the curve when it comes to pivoting.

Top500 9th Edition 25

We are very often ahead of trends when it comes to understanding

The success of the various social commentary communications in

consumer engagement, understanding community engagement

the past has been that it had come from a very real place. It has

and understanding what the evolution of the brand needs to look

come from a desire of passionate, committed South Africans to

like.

speak about an issue that they are either loving or not loving, or feel like there’s a different view that needs to be expressed – and

The third thing that differentiates us from other similar brands is this concept of family. We are a family. That family concept keeps us very true to who we are, it keeps us very honest to who we are

we tap into that.

NANDO’S IS KNOWN FOR ITS SUPPORT OF THE

and I think it helps us excel.

LOCAL ARTISTIC COMMUNITY AND HAS THE BIGGEST

THE COMPANY IS KNOWN FOR ITS SOCIAL

COLLECTION IN THE WORLD. WHERE DOES THE

COMMENTARY. A KIND OF ZAPIRO WITH WINGS. WHAT DRIVES THE CAMPAIGN?

PRIVATE CONTEMPORARY SOUTH AFRICAN ART

COMPANY’S PASSION AND LOVE FOR THE CREATIVE COME FROM?

It comes from the connection and engagement we have with our

Within Nando’s there’s not only an acknowledgement, but there

communities, our customers and our Nandocas. It’s critical to

is also a firmly-held belief that the best businesses are creative

understand that very seldom is the social commentary driven by

businesses. Over many years we have always been close to the

us – it often comes from a groundswell of suggestions from our

creative community in various guises. Our brand platform was built

customers and our employees to say, “Here’s this thing going on in

on the best creative minds in the world.

the country right now and we feel you should say something about it and bring it to the fore.”

As a creative business and as a business that loves engaging with creative people, there is a way that we can do what is right for our

One of the basic tenets of the brand is giving a voice to people

business, but also, and maybe more importantly, there are ways in

who sometimes don’t feel like they have a voice. Again, I think it

which we can engage with creative communities that will change

keeps us honest and true to what we do and who we are.

their lives, will help them be successful, and that will showcase their talents to the world.

26 Top500 9th Edition

A PEOPLE-FIRST, CHICKEN-SECOND KIND OF PLACE

EDITORIAL

In the case of our art collection, we currently have 11 000 pieces of

We’re involved in helping our staff get the best out of their salaries

original art throughout the world, we actively support approximately

– thus, helping them understand finances better, helping them get

320 members of the creative community through that initiative and

better deals for things like medical aid, for financial planning. It’s a

some of them have gone on to do amazing things – and we’d like to

broad spectrum of initiatives.

think that it is at least in small part because of our partnership with them.

WHAT IS YOUR CSI FOCUS?

Ultimately, what drives us is that we are trying to change lives in a way that is meaningful without just merely handing out a cheque. We want to be involved, we want to engage and we want to make a difference.

We don’t do traditional CSI. We believe that changing people’s lives is a core part of who we are. Our focus is always on figuring out as a business how we can engage in a way that is the most beneficial to the people that we reach, but also in a way that is true to who we are.

YOU HAVE WORKED IN EUROPE, THE MIDDLE EAST AND THE USA FOR COMPANIES LIKE PEPSICO AND

MICROSOFT. HOW DIFFERENT IS IT FOR YOU LIVING IN SOUTH AFRICA AND WORKING AT NANDO’S?

There are a number of children’s and old age homes here and we will reach out to them and help them out in various ways. In some cases

That’s a great question (laughs). When I had the opportunity to go and

it means reaching out to the community and saying to them, “Do you

work overseas, I left with a lot of excitement – and I came back with

need help getting your CV together?”

even more excitement.

As recently as three weeks ago we had an open day where members

The thing that is unique to this country is that firstly, it’s home, it’s in

of the Lorentzville community came in and told us who they were and

my blood and the smell of Africa is real. There was an SA Tourism

what they were interested in doing. We had a team of people sitting

commercial once that spoke about a world in one place or a world in

with them, helping them put their CVs together. We had a recruitment

one country – and that’s true for South Africa.

day as a follow-up to that because there were some very talented people that we thought were interesting for the business and we

The diversity that we have in South Africa is unbelievable – the

hired a couple of them.

different people that you meet and work with is second to none. The opportunities that we have here are extraordinary. This is the rainbow

We go all the way from the above to engaging with various trusts to

nation, this is an amazing place and one simply cannot replicate the

feed people, particularly children. We’re also involved in leadership

essence of what this is.

development for our Nandocas.

Top500 9th Edition 27

big FRY!

INTERVIEW WITH McDONALD’S SA CEO, GREG SOLOMON BY ANTON PRETORIUS

The focus on small improvements in energy efficiency, client service, as well as the design and architecture of new restaurants is helping global restaurant chain McDonald’s South Africa to grow organically, says CEO, Greg Solomon – a man who has transformed the business through his coach-like leadership style.

28 Top500 9th Edition

Q: YOU STARTED YOUR CAREER AS AN ENGINEER. HOW DID YOU GO FROM ENGINEER

TO CEO?

GS: Building and construction is a passion of mine. I come from a family of builders and I trained as an engineer, specialising in civil engineering and structural design. After five or six years of working for Bateman Engineering, mainly in material flow technology, I moved into the commercial side of building. When McDonald’s SA came to town in 1996, my wife suggested that I apply. The rest is history.

BIG MCDADDY!

I joined the company as project manager

We’ve grown from a kid’s business into a

in the construction department. After

family business and we’ve created a modern

overseeing the construction of about 70

and contemporary environment in most of

restaurants in a very short period of time,

our restaurants. We managed to morph our

I was approached by the then-CEO Terry

menu – both for taste and health. Thirdly,

Reese. He identified me as a local talent that

we focused on growth through innovation

could go further in the business. I changed

more than acquisition.

my career and moved into operations. This

EDITORIAL

THERE’S BEEN A LOT OF FOCUS

ON SUSTAINABILITY. HOW HAVE YOU MANAGED TO IMPLEMENT IT ACROSS THE BUSINESS?

GS:

Sustainability is very important to

us. Our focus is on five main principals, namely food, power and electricity, water,

was 10 years ago. I completed my one and

When we came here in 1996, we brought

and waste. For the first 10 years, our

a half years of basic training at McDonald’s

drive-thru to the country. Now, drive-thru is

sustainability focus was mostly inward. We

Auckland Park and I quickly moved up to

a huge part of our business. Eleven years

believe that if you can’t manage your own

chief operating officer. Five years ago, I

ago, we decided to go 24/7, which now

consumption, output and usage, how can

took the reins as CEO.

makes up 5% of our business. Seven years

you put sustainability programmes in place?

ago, we thought about introducing coffee,

We started with our production and supply

and now we’re one of the coolest coffee

SUCCESS AS CEO. WHAT WOULD YOU

chain, making sure our beef, chicken and

brands (as voted by the Johannesburg

PUT YOUR SUCCESS DOWN TO?

vegetables were farmed in a sustainable

public) with McCafé contributing 4.8% to

way. We’ve just launched ‘cage-free-eggs’,

our business. More recently, we said, should

which makes up 5% of our business. We

we get outside contractors to deliver for us?

started seeing the results when we were

the last 10 years can be put down to a few

We decided to deliver ourselves and we

recently voted second in Gartner’s annual

factors. Firstly, we had to find a balance.

launched ‘McDonald’s SA Delivery Service’

Top 25 Supply Chain for 2017.

Many Western companies come to South

18 months ago. It’s fast approaching a

Africa and say, “Go in there and build 500

R100-million business with 600 bikes and

We’ve focused our sustainability efforts on

restaurants”. But we were able to balance

riders currently on the road. It contributes

making sure we implement energy-efficient

our systems coming into this country.

5.5% of our total sales. But our biggest

equipment in our restaurants. It’s also about

Building our first 100 restaurants took us 15

success is our people. We’ve invested a

years, and the next 100 restaurants took us

tremendous amount of effort in training

five years. We paced ourselves by building

and becoming a modern and contemporary

our building designs. We’ve done a lot of light-steel frame construction, allowing us to cut down 20% of our air-conditioning

a strong base of local talent and a solid

business and I’m delighted about the talent

usage. Our franchises deal with waste in

supply chain.

in our business.

a certain way, but next year we’ll look at

Q: YOU’VE EXPERIENCED INCREDIBLE

GS: I think McDonald’s SA’s success over

More importantly, we brought an American hamburger business into a local market and we needed to establish customer loyalty. In South Africa, we talk a lot about ‘the customer,’ but the more pressing question is: Are we really obsessed with the customer? Are we actually prepared to go the extra mile and listen to what the customer believes you should be as a brand? We’ve managed to modify our business tremendously by listening to what our customers had to say.

Top500 9th Edition 29

“

grouping all 252 restaurants into a single LED and low-energy lights and there’s more news that’s on the table for finalisation regarding our water usage. When it comes to sustainability practices,

“You need to build leadership by diversifying your team. You need to extract your ideas through your talent”

we’ve focused mainly on our supply chain and our own internal facilities. But now, we’re asking: How do we make a difference in the world?

FOREIGN INVESTOR CONFIDENCE

IN SOUTH AFRICA IS LOW AT THE MOMENT. WHAT NEEDS TO BE DONE

FOR A LONG TIME McDONALD’S

TO CHANGE THAT?

HOW

HAVE

FAST YOU

FOOD

OUTLET’.

MANAGED

CHANGE PERCEPTIONS AND LOSE THE TAG?

GS: I think it started with us talking about the quality of our food. Right now, it’s one of the highest quality fast foods in the world, and we’re extremely proud of it. It’s not appropriate for me as CEO to say: “Come to McDonald’s SA, and order a Big Mac. It’s not as unhealthy as you think.” But honestly, it isn’t. It’s made up of 100% pure beef, onion, lettuce, tomato and cucumber. How unhealthy is that really compared to what you ate last night? Through a campaign (www.knowourfood.

co.za), we let our customers tell our story. For the first time, we’re bragging about the healthy aspects of our business. For too long the hamburger concept carried an unhealthy connotation, but in a way, it’s moved away from fast foods. Now, if you want to be in the game, it’s about good quality food, served fast! The South African consumer wants to know what’s in their food, and that’s what we’re doing. And it’s good food!

30 Top500 9th Edition

understanding.

I believe the

private sector needs to lead more. I think the private sector and my fellow CEOs need to take more responsibility for this country and for the children of this country instead

SA CARRIED THE TAG OF BEING THE ‘UNHEALTHY

“

waste programme. We’ll continue using

of sitting on the sidelines

GS:

It all starts with local confidence. We

need local performance, long-term vision and a winning culture in this country. We can talk about corruption and politics until

Q: HOW WOULD YOU DESCRIBE YOUR

LEADERSHIP STYLE?

the cows come home, but most importantly,

GS:

we must invest in our education. We need

coach. You need to build leadership by

to invest heavily in young leaders. When

diversifying your team. You need to extract

we’re growing GDP at 1 or 2 percent but

your ideas through your talent. You need to

input costs are growing at 7 or 9 percent,

strategically place the right people in the

you

right areas within your organisation. My

have

unsustainable

business

model, an unsustainable economy and an unsustainable country. Local confidence will build foreign investors’ confidence. And for us as South Africans, we need to start getting results on the board and we need to win.

HOW

PROLIFERATION

WE OF

ENSURE

THE

PUBLIC/PRIVATE

PARTNERSHIPS IN SOUTH AFRICA?

GS:

Partnerships are interesting. My

definition of partnership is to establish a win-win for both parties. At McDonald’s SA, we have the ‘Three-Leg Stool’ policy, which forms part of our culture. If a stool loses one leg, it’ll fall over. We believe in making partners equally happy. There’s a difference between being happy in a partnership and being equally happy and that comes with compromise and

My leadership style is that of a

best ideas come from the people within the organisation. I believe that a coach needs to be a listening leader, where the ideas

BIG MCDADDY!

EDITORIAL

QUICK-FIRE Q&A WITH GREG SOLOMON Q: Your biggest wish for South Africa? That we start cultivating a winning culture. Q: Books you’re currently reading? I don’t read any books at the moment. Being a modern leader, I let digital streams like TED Talks, LinkedIn and Twitter populate my news feeds with information that I’m interested in like sports, and innovation come from the employees.

companies who are willing to commit to a

I often ask myself, how do I become an

long-term vision will be the winners in the

influential leader, one who builds trust and

next five years.

respect within my team? You build trust by delivering on your promises and you build

WHAT ADVICE CAN YOU OFFER

respect by teaching somebody something

FOREIGN INVESTORS WITH AN EYE ON

new, and putting the score on the board.

SOUTH AFRICA?

Q: WHAT’S YOUR PREDICTED GROWTH

GS:

FOR

THE

FOOD

AND

BEVERAGE

SECTOR OF SOUTH AFRICA?

Firstly, you need to know and

understand your customer. South Africa can be a complex market. Make sure you partner

health and leadership. Q: How do you relax? I stay active by running, walking, going to the gym and spinning. I’m also a wildlife guy and I take my family to the Kruger National Park at least twice a year.

with local people. I don’t think foreign

Q: Who or what inspires

I’m trying to prepare our people,

investors should be running organisations

you? I don’t have just one

staff and franchise partners to become

or brands without local insights. Understand

mentor, I have several. I study

match-fit for a completely different game in

the consumer and be customer-obsessed,

my mentors very carefully

the future. What got us here over the last

using local partnerships to ensure that you

to build a mosaic of who I

five years won’t get us there in the next

find the best win-win relationship. There are

want to be, duplicating their

five years. That’s because we’re living in

so many talented people in this country. My

strengths and eradicating

an environment that’s constantly changing

advice to foreign investors is: You better be

and innovating. McDonald’s SA’s vision is

bold, focused, but also be patient. You can’t

the negatives. My mentors

to be modern and contemporary, but to be

make a quick buck out of Africa or South

that we need modern and contemporary

Africa. With that said, on behalf of my fellow

principles. You simply cannot afford to

South Africans, I’d welcome foreign investors

become stagnant. It’ll remain especially

to invest here. It’s a great place to be.

GS:

hard for those who refuse to change along with the modern environment or make

range from my friends, wife and kids, to Maggie – hostess at McDonald’s Woodmead. I also draw inspiration from leaders like Churchill and Madiba.

bold investments in the economy. The

Top500 9th Edition 31

engineering and construction

BY FIONA WAKELIN

REMARKABLE MILESTONE FOR

oriented manufacturing industries. These

ENGINEERING COUNCIL

zones have had a substantial impact on

The Engineering Council of South Africa

the engineering and construction sector in

(ECSA) is a statutory body responsible for:

South Africa.

• Regulating the engineering profession • Determining standards of education

and training

There are currently five IDZs in South Africa operating in:

• Accreditation

• Coega

• M anagement of the registration

• Richards Bay

standards of practicing engineers

• East London • Saldanha Bay

South Africa is the only country in Africa

• Dube Trade Port

that is a member of the International Engineering Alliance (IEA). At the 2017

COEGA

meeting of the Alliance held in Alaska,

Two projects worth over R1-billion are

the IEA recognised ECSA’s standards and

under construction at the Coega IDZ in

processes for another six years.

Eastern Cape, with a third in the pipeline. The R71-million ready mix concrete plant

“This

the

will provide 59 jobs, while the R350-million

International Engineering Alliance is a

recognition

ECSA

Gas Cylinder Plant will create more than

remarkable milestone which reaffirms that

70 sustainable jobs and produce over 1.5

ECSA conforms to global engineering

million gas cylinders.

education and competencies standards. It is particularly encouraging to note that

“We are highly pleased with the inflow

this recognition further enables ECSA-

registered persons to gain recognition of

manufacturing industrial sector of the

their qualifications in other IEA signatory

Coega IDZ. We look forward to the start of

countries”

construction on the third project –

–

Sipho

Madonsela,

Chief

Executive Officer of ECSA.

investments

the

metals

and

a R650-million cement grinding plant” – Sadick Davids, CDC Business Development

OPPORTUNITIES ABOUND IN

Manager.

INDUSTRIAL DEVELOPMENT ZONES Industrial provide

Development

(IDZs)

RICHARDS BAY “The launch of a new R4-billion titanium

fixed

direct

beneficiation project for manufacturing

investment into value-added and export-

titanium pigment at the Richards Bay IDZ

32 Top500 9th Edition

industrial

Zones

infrastructure

necessary

the

facilitate

ENGINEERING AND CONSTRUCTION

SECTOR OVERVIEW

is a significant and commendable milestone in South

stay in place for three years, starting at 12%, reducing

Africa’s mineral beneficiation and industrialisation

to 10% the following year and then finally 8% in the

paths” – Trade and Industry Minister Rob Davies.

third.

Construction of the plant begins in 2018 and production will start in 2019.

TRANSPORT INFRASTRUCTURE – LINKING AFRICA Across Africa, 26 countries are finalising a free trade

EAST LONDON

agreement for which the road, rail, air and shipping

The East London IDZ has attracted more than

linkages will be a vital component. The member

R4.3-billion in investment over the last 10 years; the

countries have a combined population of 625 million

IDZ plans to generate its own electricity using solar

and a total GDP of $1.6-trillion.

power and wind energy, with the intention of selling it to the local municipality.

The Permanent International Association of Road Congresses (PIARC), a global roads body, is focusing

SALDANHA BAY

on African highway networks, as well as updating

The maritime oil and gas industry (rig repair‚ ship repair

design standards for rural roads. These will be vital

and vessel fabrication) contributed R1.5-billion to the

linkages boosting intra-regional trade.

provincial economy in 2015 and created 7 120 direct jobs and 6 120 indirect employment opportunities.

WATER – OUR MOST PRECIOUS RESOURCE With the reverberations of the latest drought still being

DUBE TRADE PORT

felt across the region and climate change an ever-

The Dube Trade Port is Africa’s first purpose-built

present reality, a reliable water supply is key to our

aerotropolis and incorporates King Shaka International

very existence. One of the major projects ensuring the

Airport. In 2016 international cargo volumes from

provision of this most precious resource is the Lesotho

Dube Cargo Terminal rose 12% to 8 000 tons, while the

Highlands Water Project.

facility handled 6 400 tons of domestic cargo. This has largely been the result of developing state of the art

The

infrastructure at the terminal.

(completion date projected to be 2025) has generated 20

Lesotho

Highlands Water

construction

contracts

for

Project

Phase

housing, bridges,

STEELING OURSELVES FOR GROWTH ON THE

roads, dams, power supply (including bulk power

CONTINENT

lines and telecommunications), waste management

While steel consumption in South Africa fell by 3.8%

and tunneling. The hydropower generation scheme

in the first half of 2017 due, in part, to increased

will proceed apace in parallel to these projects. The

imports from China, African markets in the west and

Polihali dam construction includes a 165 m concrete

east sub-Saharan regions have remained positive due

face rockfill dam, a 50 m-high saddle dam and a

to infrastructure investments in rail, roads and energy –

side channel spillway. The transfer tunnel will be

this according to ArcelorMittal South Africa.

38 km x 5 m in diameter with a lake tap into Katse Dam.

“Projections are that Africa will experience growth in demand on the order of 2.3%,” AMSA said in its earnings statement. In response to the impact that cheap imports from China are having on local industries, South Africa plans to impose emergency ‘safeguard’ tariffs on imports of certain flat, hot-rolled steel products. The tariff is to

SOURCES

Infrastructure news Vector IDZ

Top500 9th Edition 33

PROFILE

GIBB

gibb GIBB is one of the leading multi-disciplinary engineering and architectural consulting companies in South Africa with 67% black ownership. The company has a strong African orientation with a large geographical footprint on the continent. It has been operating since 1956 and has proven capabilities in delivering world-class projects of any magnitude. GIBB prides itself on delivering high-quality projects underpinned by an independently certified ISO 9001 quality system since 1999. Over the years, the company has developed an in-depth understanding of the challenges of developing infrastructure in Africa. This has contributed to the company’s position as the partner of choice for the private sector, state-owned enterprises (SOEs) and governments, all of whom seek proven expertise to respond to the numerous infrastructure demands and needs of the continent. The winning combination of top talent, in-depth industry knowledge, a wellearned reputation for excellence and commitment to timeous and withinbudget delivery ensures that the client is guaranteed success for every project. GIBB’s long track record of industry awards is testament to the recognition bestowed by industry peers. SERVICE OFFERING

In addition to its traditional service offerings, GIBB offers a full range of architectural services through its subsidiary, SVA International. This has expanded the GIBB offering beyond engineering, to architecture and urban

Richard Vries GIBB Group CEO Company Information Group CEO: Richard Vries Chief Financial Officer: Mohammed Mayat Group Business Development Executive: Muzi Siyaya Marketing & Communications Manager: Wanda Pretorius Human Resources Executive: Philip Barnard

Company Statistics Year founded: 1956 Founding members: David Hill and Leo Kaplan Employees: 720 Branches in SA: Bloemfontein, Durban, Cape Town, Port Elizabeth, East London, Queenstown, Mtatha and Pretoria Trade affiliations: GBCSA, MESA, SAACPP, SABOI, SANCOLD, RFA and IMESA. Strategic partnerships: BBCBE

Contact Details Head Office: Johannesberg Woodmead North Office Park 54 Maxwell Drive, Woodmead, 2191

planning.

Tel: 011 519 4600

With offices in all major cities in South Africa and the rest of Africa, SVA

Website: www.gibb.co.za

Email: adlokolo@gibb.co.za

International’s areas of expertise include retail, hospitality, commercial, health, education and residential developments.

34 Top500 9th Edition

GIBB Engineering and Architecture

@GIBB_Eng

Building Africa. Building the Future.

The World Bank estimates that Africa will need $93 billion* a year over the next decade to meet its current infrastructure shortfalls, if it is to create meaningful economic growth. For us at GIBB, we believe we are part of the solution. What we do is an essential catalyst to change people’s lives. We do this every day by bringing communities together; developing landscapes and environments where opportunities evolve as a natural consequence of infrastructure growth. As a leading multi-disciplinary black-owned engineering consultancy company we are committed to our part in growing a continent. Building Africa. Building the Future.

www.gibb.co.za | marketing@gibb.co.za | Tel: +27 (0)11 519 4600

• Dams, Hydropower and Underground Works • Environmental • Integrated Infrastructure • Power & Energy • Transportation • Mining • Architecture * World Bank Group Infrastructure Strategy Update FY2012-2015 (Africa will need $93 billion per annum for the next 15 years to fill infrastructure gaps; 2010 to 2025)

Topco.indd 1

17/10/2017 10:32:20 AM

PROFILE JG AFRIKA (PTY) LTD

JG Afrika (pty) Ltd In this world of constant change, JG Afrika remains proudly South African and fully committed to development in Africa. Now in its 95th year, this wholly-owned South African company has built a strong reputation for offering innovative and sustainable engineering and environmental consulting services of the highest quality.

Paul Olivier JG Afrika (pty) Ltd CEO

Rated Level 1 on the Broad-based Black Economic Empowerment (B-BBEE) scorecard, JG Afrika’s ongoing strategy to maintain what the industry considers best practice also includes its 51% empowerment shareholding. The firm continues to progress and evolve, keeping pace with fluctuations in demand, the industry and customer requirements, and in 2016 it rebranded from Jeffares & Green to JG Afrika in a move that enhanced its already strong commitment to the continent. “Today, JG Afrika is a diverse company and our brand reflects this. Our corporate identity also mirrors our African heritage. It shows that we are looking to the future and aligning our name with our diverse expertise, our modern approach and the significant future Africa offers as a growing continent,” says Managing Director Paul Olivier. The firm is headquartered in Johannesburg, with offices in South Africa, Botswana, Mozambique and Lesotho, all ISO 9001:2015 certified. JG Afrika has a complement of some 300 staff comprising engineers, environmental scientists, specialist professionals and administrative staff working together to provide the highest quality of consulting engineering services for the benefit of the community and the environment. Proudly independent, proudly South African and proud to service Africa, the firm has never compromised on experience, quality and integrity. It is these core values, coupled with a progressive culture, that are central to JG Afrika’s success.

Company Information Managing Director: Paul Olivier Board Members: Paul Olivier, Seetella Makhetha, Phaks Ngqumshe, Ms Jan Norris, Ms Martha Makhetha, Harold Tiganis, Ms Nomsa Mkaza Financial Manager: Ms Desré Guerini Human Resources Manager: Ms Jacqui Sonderegger Marketing Manager: Ms Charmagne Denny IT Manager: Hugo Lambrechts

Contact Details Physical Address: JG Afrika House, 37 Sunninghill Office Park, Peltier Drive, Sunninghill, Johannesburg, 2191 Postal address: PO Box 1109, Sunninghill, 2157 Telephone: +27 11 231 2200 Fax: +27 11 8071607

G R E AT R E P U TAT I O N S A R E B U I LT OV E R T I M E

Email address: johannesburg@jgafrika.com Website: www.jgafrika.com B-BBEE: Level 1

36 Top500 9th Edition

ACTOM (PTY) LTD

PROFILE

Actom (pty) Ltd ACTOM (Pty) Ltd is the largest manufacturer, solution provider, repairer, maintainer and distributor of electro-mechanical equipment in Africa, offering a winning and balanced combination of manufacturing, service, repairs, maintenance, projects and distribution via its 38 outlets throughout southern Africa.

Mervyn Naidoo ACTOM Group CEO Company Information

ACTOM is also a major local supplier of electrical equipment, services and balance of plant to the renewable energy projects. The company holds numerous technology, distribution and value-added reseller agreements with various partners â&#x20AC;&#x201C; both locally and internationally. Due to in-house engineering skills and close ties with technology partners, ACTOM is able to supply a complete range of high-quality, reliable and cost-effective products and services, and to explore innovative solutions for the benefit of customers. ACTOM constitutes an OEM with aftermarket repairs and service capabilities, which facilitates total life-cycle management, electro-mechanical and turnkey solutions, with 40

CEO: Mervyn Naidoo COO: Garth McEwan Chief Financial Officer: Garth McEwan Human Resources Manager: Johann Ellis (Group Human Resources Executive) Group Chairman: Mark Wilson Group Deputy Chairman: Andries Tshabalala Company Secretary: Annamarie van Wyngaardt

Company Statistics Employees: Approximately 8 500 Turnover: R8.6-billion

operating units, production, service and repair facilities, and 38 distribution centres.

Financial year-end: March

ACTOM is a Level 3 B-BBEE contributor with a procurement recognition of 110% and is

ACTOM, GEC Zimbabwe, ACTOM Namibia,

rated as an Empowering Supplier and an Enterprise Development Beneficiary. ACTOM encourages skills development among its employees and has a longstanding commitment to local manufacture wherever feasible, providing employment to local inhabitants. The company provides opportunities for employees to advance their careers within the Group and has a good record of employee retention. ACTOMâ&#x20AC;&#x2122;s export strategy focuses primarily on the African continent and currently has representation in 16 African countries, as well as in Australia, USA and Indonesia, with subsidiaries in Zimbabwe, Namibia, Zambia, Botswana and DRC. Currently, exports account for approximately 14.2% of the total ACTOM Group turnover, with 85% of the

Subsidiaries: ACTOM Turbo Machines, TLT ACTOM Energy Namibia, Koebec Electrical and Engineering Services, ACTOM Zambia Holding Company: ACTOM Investment Holdings (Pty) Ltd

Accountants: Deloitte & Touche Major accounts / key clients:

Government, parastatals, municipalities, mining, industry, exports and IPPs

Contact Details Physical address: 2 Magnet Road, Knights, 1413

14.2% being business conducted on the African continent.

Postal address: P.O. Box 13024, Knights,

CORPORATE SOCIAL INVESTMENT

Telephone: +27 (0) 11 820 5111

ACTOM is committed to Corporate Social Investment (CSI) and as such participates in various corporate social investment initiatives across the Group.

1413 Fax: +27 (0) 11 820 5100 Website: www.actom.co.za

ACTOM

Top500 9th Edition 37

BY ELSKE JOUBERT

waste not want not

According to the Department of Environmental Affairs, South Africa sees green economy as a sustainable development path, addressing the interdependence between economic growth, social protection and the natural ecosystem: “Towards a resource-efficient, low carbon and pro-employment growth path”.

THE WAY FORWARD FOR SOUTH AFRICA’S WASTE SECTOR

South Africa’s waste-to-energy (WtE) sector is set on increasing and expanding the country’s waste-toenergy potential. According to Jan Palm, president of the Institute of Waste Management of Southern Africa (IWMSA), “WtE involves the physical, chemical and biological processes that give municipal waste a second life.” Municipalities usually deal with waste by sending it to a landfill where it’s compacted and covered, however, according to Mr Palm, this method is not the most effective nor the most desirable as it poses a number of environmental risks. He notes, “Consequently, the waste management landscape needs to explore technologies to maximise diversion from landfill, such as the WtE process. Not only does WtE alleviate the burden on available landfill space, it also provides an entirely new source of energy for South Africa, which can power many homes.”

THE BENEFITS

The country is running out of landfilling capacity and this method provides a much-needed alternative.

The

WtE process also provides a renewable energy source,

38 Top500 9th Edition

ENVIRONMENT

which helps South Africa keep in line with its carbon emission reduction commitments.

BAG IT, BIODEGRADABLY

Approximately 90% of the plastic bags in South Africa are not biodegradable in natural environments, owing to the fact that they are made from petroleum-based chemical materials. However, maize and sugar cane bio-based plastic bags will soon enter the market, and South Africans will be able to do away with plastic bags, along with the rest of their waste, without worrying about the impact it will have on the environment. The bags are 100% biodegradable in soil, mud, compost and water; they also break down in a period of three to six months. Sudhakar Muniyasamy, senior researcher at the Council of Scientific & Industrial Research (CSIR), says, “These biodegradable plastic bags can improve market opportunities and end-user industry and reduce the amount of plastic waste in South Africa.” He goes on to say, “The technology is

mainly

designed

meet

physical-

chemical properties, but after their use when disposed in natural environments, it undergoes biodegradation in landfill, compost and marine water by process of natural microorganisms in a timely and efficient manner.”

SECTOR OVERVIEW

MOVING FORWARD WITH SOUTH AFRICA’S WASTE MANAGEMENT HOW DOES IT WORK? Municipal solid waste is recovered, separated into recyclable, organic and non-recyclable materials. It enters a Materials Recovery Facility – a physical separation process where all recyclable material is recovered and entered into the market again. After the recyclable material is recovered, the organic part and non-recyclable parts of the waste remain. Organic material, consisting of food and garden waste, goes through anaerobic digestion – a biological treatment process where bacteria thriving in oxygendeprived environments break down organic waste. This process happens in closed reactors where biogas and digestate (the two byproducts) are collected. The biogas is used as a source for energy production. Digestate can either be used to produce low-grade compost or added to the nonrecyclables to be treated thermally. As part of the WtE process, thermal treatment occurs in three different ways: incineration, gasification or pyrolysis. Incineration (known as mass burn) involves using the generated heat to turn water into steam and the steam turns a turbine which produces electricity. Gasification turns organic waste into syngas which is used to produce electricity. Through pyrolysis, organic waste is heated to speed up decomposition – this process happens in the absence of oxygen so the waste doesn’t burn. The by-products are syngas and bio-oil.

SOURCES http://www.infrastructurene.ws https://www.timeslive.co.za

Top500 9th Edition 39

Buhle Waste is a 2nd-generation family business that is a 100% black-owned and managed waste management business. We have been in operation since 1997, having grown from a small business in the Ekurhuleni Metropolitan Municipality to a business operating nationally with a fleet of more than 70 trucks and 350 staff. Over the years we have gained experience through the trials of business hardships and successes. We began in the dusty streets of Katlehong, a township in the Ekurhuleni Metro, managing the waste of the local communities in an effort to bring a sense of beauty and pride to our environment. Our dedication to our community and our respect for our environment has continued to form the foundation for our business operations. Infused in our foundation of operations are the perseverance, resilience and dedication to achieve success for our clients. We manage general, industrial, hazardous, chemical, sanitation and medical waste. Because we manage multiple waste streams, it allows us to be an ideal partner to businesses in managing their waste on-site; our clients leave the waste for us to handle whilst they go about their business of serving their own clients – a partnership ensuring our clients’ success because they are not overly encumbered by the burdens of their waste. We operate nationally with offices, warehouses and/or treatment plants in Gauteng, Free State, Limpopo and Mpumalanga. We will soon have facilities in KwaZulu-Natal and the Eastern Cape allowing us to broaden our scope and scale of business operations in those regions and surrounding areas, including Lesotho and Swaziland. Our mission is to become operational throughout the SADC region, spreading our 2025 vision of zero-waste-to-landfill throughout the country and the region. When we first began operations in 1997 we faced the uphill challenge of navigating the economic and waste landscape in

40 Top500 9th Edition

South Africa. It was a tense time for black-owned businesses that had very little access to capital because of the very conservative financing mentality of the banks. In addition to that, the pressures from the larger, white-owned corporations within the industry, who were resolved to minimise any new entrants into the business, were taking their toll on our business operations and ability to expand in scale and scope. Without government interventions, namely Broad-Based Black Economic Empowerment (B-BBEE), the waste industry may not have changed much today and we would remain with very few companies who control the market share of the industry. Today we find a relatively fragmented industry with lower barriers to entry on the whole, and greater economic inclusion has led to a spurring in the economy. In addition, the flood of new entrants into the market contributes to a more competitive environment – this has been beneficial to the companies, individuals and entities that rely on our services. It is within this landscape that as a business we have continued to evolve and adapt to changing circumstances, like the environment we serve. We have taken on its most resilient characteristics – innovation forms a pillar of our business and continued growth and success. We have continued to invest in technologies that will assist us in achieving our zero-waste-to-landfill goals, whilst simultaneously differentiating our value proposition in the market. In the early

BUHLE WASTE

years of our business we were heavily dependent on other, larger waste management companies who were involved in the treatment and disposal of waste. Today, we are one of the largest waste treatment companies in the country.

reintroduced into the ecosystem, eliminating the waste treated by this machine being transported to landfill site for disposal. This technology is an essential component in our mission to achieving zero-waste-to-landfill by 2025.

Over the years we have acquired and invested in three medical waste treatment technologies throughout the country. In 2010 we acquired an incinerator in Gauteng that allows us to treat all medical waste streams. To achieve our vision and minimise our impact on the environment, we invested in green technology that had no emissions and reduced the waste from treatment to disposal at landfill. As such, we invested in Steam Treatment Injection (STI) technology that utilises a steam injection chamber, as opposed to incineration, for treating medical and hazardous waste at high temperatures to sterilise and shred the waste, rendering it non-hazardous and safe to handle. Our STI is based in Gauteng, making us the first waste management company to have an incinerator and non-burn technology on the same premises. Our capacity to treat waste is greatly increased, whilst our transportation impact is reduced. Our commitment to environmentally sustainable technology and ensuring that its benefits are seen throughout the country is further highlighted by our investment in treatment technology in Seshego in Limpopo, our flagship treatment site. The Converter is a revolutionary technology that, using friction from rotating shredder blades in a sealed chamber, generates heat to sterilise and destroy hazardous waste, rendering it nonhazardous. The machine reduces the original input by about 70% in volume and 60% in weight, minimising the waste that can be transported to landfill site for disposal. The waste by-product retains a calorific value that is greater than that of coal, allowing us to explore ways in which this by-product can be used to generate energy. It converts waste into a refusederived fuel (RDF) that presents a wealth of opportunities on a continent that is energy starved. Our research and development team is exploring the many ways in which this RDF can be

TEL: +27 11 595 3000

FAX: +27 11 866 2321

ADVERTORIAL

It is our mission to achieve our goals through the investment in technology and just as importantly, if not more so, to invest in our people and communities. The technologiesâ&#x20AC;&#x2122; achievements are limited without the input and contribution from our people. We have considered our investment in our communities to be an essential component of our existence as a business. It is imperative that we, as a collective within our communities, collate our resources and intellect to achieve positive impacts by beautifying our communities and ensuring environmental sustainability. It is with this in mind that we provide scholarships to students who wish to study towards achieving environmental and community sustainability and excellence. We have further introduced a graduate recruitment programme to engage our youth in economic participation and encourage future leaders of our communities to remain cognisant of their contribution to environmental sustainability. Further pursuant to our vision, we continue to introduce environmentally sustainable ecosystems within the communities in which we operate to tackle community challenges and issues. The most important element of each of our outreach programmes is that they speak to a self-sustaining ecosystem that can exist and thrive in its own environment. We hope that the introduction of sustainable ecosystems addressing community-specific and environmental challenges will further espouse the responsibility of environmental care and respect. We need the help of the people if we are to achieve our zero-wasteto-landfill objectivesWe need the pillars of our business to operate in a synergistic fashion if we are to continue to hold true to our values of beauty, love and respect.

EMAIL: info@buhlewaste.co.za

Website: buhlewaste.co.za Top500 9th Edition 41

Buhle Waste (Pty) Ltd is a 100% black-owned and managed waste management service company that has been in the industry since 1997. We have capabilities and capacity

the best service in the management

chemical,

of their waste. We are committed

hazardous and healthcare risk waste

to ensuring. that our clients are our

(aka medical waste); we further have

priority;we strive to provide them

capacity and capabilities in hygiene

with an efficient, reliable and cost-

services and cleaning, effectively

effective service that is in the best

rendering Buhle Waste a holistic

interests of our clients, their staff and

waste management service provider.

their communities.

general,

domestic,

Over the years, we have become one of the market leaders in the management of hazardous waste in South Africa. We boast a national footprint with key clients such as the Free State, Gauteng, Limpopo, Mpumalanga,

and

North-West

Departments of Health; South African National Blood Services; National Health Laboratory Services; and many others. Buhle Waste provides a unique service tailored to the needs of each organisation, ensuring they receive 1634 Canon Cr Roodekop 1401

Postal Address: P.O. Box 13091, Katlehong 1432

T: 011 866 2316 E: info@buhlewaste.co.za www.buhlewaste.co.za

d t s .

BUHLE WASTE

PROFILE

buhle waste Buhle Waste is a second generation family business that is 100% black-owned and managed. We strive to achieve excellence in all of our business activities in the communities in which we operate. As such, we strive to be an embodiment of Ubuntu, knowing that it takes a community to help a business succeed. Our business has been founded on the belief that our homes and cities must be beautiful spaces; a love for our people should be fostered; and respect for our environment should be maintained. We strive for beauty, love and respect in all that we do and our vision is a reflection of that: to keep Africa clean and disease-free, as it becomes an economic powerhouse, by using the best waste management systems and technologies. Since its inception, Buhle Waste has developed and acquired some of the market’s leading technologies and intellectual property protocols to become a whollyintegrated waste management service provider. We manage all waste streams including, but not limited to, general, industrial, chemical, hazardous, medical and

Company Information CEO: Phetole David Sekete COO: Evelyn Masedi

Managing Director: Phetole David Sekete Financial Director: Sam Mabudu

Marketing & Communications Manager: Thabang Sekete

Human Resources Manager: Majuba Ngema

sanitation waste, from provision of waste receptacles to collection and treatment of

General Manager: Portia Mabote

ent

waste at our approved and licenced facilities. Our strategic partnerships enable us to

Company Statistics

ted

design and manufacture waste containers to specification, provide HPCSA-accredited

our

st-

est

o.za co.za

and HWSETA-certified medical waste training for our clients and most importantly, track our clients’ waste ‘from cradle to grave’. Over the years, Buhle Waste has grown from a small business operating just two trucks in Ekurhuleni to a business with more than 350 staff members and a fleet of over 70 trucks operating nationally. The year 2017 marks our 20th year of operating as a business and this achievement has only been possible through the perseverance, resilience and dedication of the Buhle Waste community – our staff, our clients, our partners.

CORPORATE SOCIAL INVESTMENT

We have a student sponsorship programme, currently sponsoring three full-time students who are completing their undergraduate and postgraduate studies in Environmental Sciences. We have sponsored community events in the Ekurhuleni Metropolitan Municipality for activities geared towards health and wellness of the community members such as fun runs, sports days and the like. We have sponsored clinics in the Limpopo Province with medical equipment to further assist the nursing staff with their duties.

Year founded: 1997

Founding members: Phetole David Sekete, Themba Buthelezi, Lungelo Twalo, Jonas Matlou Branches: 5

Trade affiliations: IWMSA Memberships: IWMSA

Turnover: >R100 000 000.00

Major accounts/key clients: Free State, Gauteng, Limpopo, Mpumalanga Provincial Departments of Health; National Health Laboratory Services (NHLS); Woolworths; Mota-Engil Construction Southern Africa (MECSA); Department of Correctional Services; Department of Defence; Ekurhuleni Metropolitan Municipality; Tiger Brands

Contact Details Physical address: 1634 Canon Crescent, Roodekop, 1401 Postal address: P.O. Box 13091, Katlehong, 1432 Telephone: 011 866 2316 Fax: 011 866 2321 Email: info@buhlewaste.co.za Website: www.buhlewaste.co.za

Top500 9th Edition 43

KEEPING ON THE GRID

BOOST IN RENEWABLE ENERGY CREATING CONSTRUCTION OPPORTUNITIES IN AFRICA BY ANTON PRETORIUS ONCE AN EMERGING INDUSTRY, RENEWABLE ENERGY

field of 37 Vesta V-100 wind turbines – produces a total capacity

SOURCES HAVE BECOME A GLOBAL BUSINESS – AND

of 66 megawatts, generating enough electricity to power 70 000

GIVEN THE REALITY OF THE CHALLENGES POSED BY

low-income homes.

CLIMATE CHANGE, THE NEED FOR A COMPREHENSIVE RENEWABLE ENERGY STRATEGY IN AFRICA IS NOW MORE

To generate the same amount of electricity, an average South

URGENT THAN EVER.

African coal-fired power station (think Eskom’s Medupi) would

emit around 195 000 tons of CO2 every year. Eliminating these strong, gusting wind – a familiar force in Western

CO2 emissions is equivalent to taking more than 40 000 cars off

Cape – drives the big wind turbine in an anti-

our roads.

clockwise motion. The 35-metre blades pick up

momentum, spinning furiously and sending electricity to local

What’s also incredible is the significant number of jobs that

communities in the quaint West Coast town of Hopefield.

have already been created by the Hopefield Wind Farm. During construction, more than 300 people were employed from the

On top of the turbine, a local worker, dressed in appropriate

local area alone. In addition, opportunities are being created

safety gear, stares down over the 100-metre drop to inspect the

for local suppliers and service providers, which will continue

wind speed mechanism. The Hopefield Wind Farm – home to a

throughout the project’s 20-year lifespan.

44 Top500 9th Edition

KEEPING AFRICA ON THE GRID

EDITORIAL

HOPEFIELD WIND FARM The Hopefield Wind Farm Local Community Company (a non-

percentage of the profits into healthcare, education and

profit company that owns 5% of the wind farm) will channel

job creation. But it’s the low price of the electricity that’s the

enterprise development and socio-economic development

differentiator. Wind energy costs on average 68 cents per kW –

funding from the project into the local community and administer

roughly half the cost of new coal.

various initiatives designed to foster education, particularly in maths, science, the environment and sustainability.

Alternative energy sources are set to completely transform rural communities in terms of healthcare, education, job creation and

With 13 wind farms currently in operation throughout the

a raft of other interventions while putting green electricity on the

Western, Northern and Eastern Cape, South Africa’s been quietly

grid at affordable prices.

creating the world’s most progressive alternative energy plans. Solar, biomass and wind energy systems are popping up all over

Wind farms aren’t the only source of renewable energy on the

the country and feeding clean energy into the strained electrical

continent. Kenya is now the world’s ninth largest producer of

grid.

geothermal energy and planned to double capacity by the end of 2016. Oil-rich Nigeria is scaling up its solar capacity with plans

The biggest wind system project in Africa is in Cookhouse, a

to establish Africa’s first large-scale solar panel manufacturing

small village located in Eastern Cape – roughly 170 km north

facility.

of Port Elizabeth. With 70 turbines generating 140 MW of clean power, Cookhouse is a renewable energy asset that will help

The Democratic Republic of Congo’s Grand Inga hydropower

satisfy South Africa’s increasing appetite for power.

project is forecast to double Africa’s electricity production capacity, and in Rwanda, Ignite Power will bring together local

Like with the other projects, a percentage of the equity of

and international organisations and has developed a template for

Cookhouse is held by the community trust – funneling a

connecting all households on and beyond the grid.

Top500 9th Edition 45

A NEED FOR ALTERNATIVE POWER

companies. “This is exactly the position faced by the local insurance

Despite the recent slowdown in the economy affecting smaller

construction, built by entities fully-insured offshore by

construction companies more severely than the larger companies,

fully-instituted global insurance programmes,” he says.

and reinsurance markets. Most of these projects are turnkey-type

big renewable energy projects are offering a promising economic boost for Africa, let alone lessening the impact on climate change

In 2011, during a bidding window, an estimated R168-billion in

and solving the energy crisis.

private investment with a capacity of 3 800 MW was committed to renewable energy sources in Africa. During 2015, the procured

Larger companies have been able to source business across the rest

target was adjusted to 6.3 GW and by the end of 2030, it is projected

of Africa and the world. Renewable energy will certainly bring in

to reach 17.8 GW.

more construction development into South Africa as its geographical location, topography and size all play a vital role in providing multiple

“When this is going to be achieved is a discussion for another day,”

renewable energy sources.

says Hansa, “however, this is a clear indication that there is still a lot of growth in this industry and coupled with that, job creation is

Cassim Hansa, managing director of Continental Property and

estimated to reach 300 000 by the end of 2020.”

Engineering Risk Services, is positive that renewable energy sources will bring in more construction development into Africa. “This is

According to the International Energy Agency (IEA) in sub-Saharan

provided that African-domiciled construction, related hardware

Africa, it will require more than US$30-billion in investment to

suppliers and labour are all suitably prepared to secure the

achieve universal electricity by 2030 with an average of US$2-billion

opportunities and to lobby for fair participation in these projects.”

per annum. Hansa says that construction contributes around R110-billion to South Africa’s GDP.

He adds that the majority of these big renewable energy construction projects are mostly funded and engineered by offshore

46 Top500 9th Edition

KEEPING AFRICA ON THE GRID

EDITORIAL

“Comparatively, we’re looking at about R27-billion alone from

But its developing economies cannot be dependent on rising fossil

mainly renewable energy for sub-Saharan Africa as a whole. Clearly,

fuel costs and must invest in alternative, cheaper sources of power.”

there will, and has to be, a multiplier effect for other industries and economic sectors.”

Hansa says this includes power that is scalable to avoid lengthy transmission lines and associated costs, and which can easily be

The South African Department of Energy’s independent power

installed at a remote rural location. “Europe has recognised Africa’s

producer (IPP)’s renewable energy procurement programme says

solar potential to serve its own power needs. Europe is therefore

that about 38% – 23 375 MW – of the total electricity generated in

willing to invest significantly for clean power to be transmitted back

South Africa will need to come from renewable energy sources.

to itself from solar plants located in suitable African locations.”

Experts believe that Africa is showing significant growth potential

Until recently, South Africa was a small producer of renewable

when it comes to renewable energy sources. However, presently, the

energy. However, this has changed and in a short space of time, we

continent is faced with massive energy shortages.

are now one of the major players amongst 35 nations for the ability and potential to attract renewable energy projects.

“Clearly, there is a need for cost-effective energy solutions. Africa in general is fairly well endowed with renewable energy potential.

BIG RENEWABLE ENERGY PROJECTS IN SA FREE STATE

NORTHERN CAPE

Karoshoek Consortium Tech: Concentrated Solar Thermal (CSP) Capacity: 100 MW Status: Awaiting construction (approved and financed)

Letsatsi Power Company Tech: Solar Photovoltaic (PV) Capacity: 64 MW Status: Fully operational

GAUTENG

Johannesburg Landfill Gas to Electricity Tech: Landfill gas Capacity: 18 MW Status: Partially operational

KWAZULU-NATAL

Mkuze Tech: Biomass Capacity: 16 MW Status: Approvals planning and financing

WESTERN CAPE

Dassiesklip Wind Energy Facility Tech: Onshore wind Capacity: 26.2 MW Status: Fully operational Gouda Wind Facility Tech: Onshore wind Capacity: 135.2 MW Status: Fully operational

EASTERN CAPE

Amakhala Emoyeni (Phase 1) Tech: Onshore wind Capacity: 134.4 MW Status: Construction Jeffreys Bay Wind Farm Tech: Onshore wind Capacity: 138 MW Status: Fully operational

Top500 9th Edition 47

CONNECTED CONSERVATION In February 2017 the Department of Environmental Affairs reported a 10.3% reduction in rhino poaching for 2016, compared with statistics from 2015. Though there has been a decline, the stats are still dire: 1 054 rhinos were killed in 2016 in South Africa alone – meaning approximately three rhinos were killed daily. Since January 2017, 529 rhinos have been poached. And, according to Save the Rhino, poachers are moving beyond South African boarders, into other African countries who don’t necessarily have the resources to effectively protect wildlife. We interview Grant Bodley, CEO of Dimension Data for the Middle East and Africa, about ‘connected conservation’ and how the use of sophisticated technology helps combat the incursion of poachers and proactively prevents the killing of not only rhinos, but other animal species too.

48 Top500 9th Edition

Q&A WITH GRANT BODLEY IN A NUTSHELL, WHAT IS ‘CONNECTED CONSERVATION’?

Connected conservation is about how technology is being used to protect endangered species. The focus of late has been on the rhino, but at the same time it covers all animals in the park. Our solution is somewhat different to what has been done in the past. We don’t track the animals, but rather the people to prevent them from getting access to the animals. For us, it’s about securing wildlife reserves and stopping incursions of poachers into the environment.

HOW EXACTLY DOES THE TECHNOLOGY WORK? We’ve created what we call a reserve area network. We’ve created Wi-Fi hot spots, local area networks (LANs) at all the gates, CCTV,

USING SOPHISTICATED TECHNOLOGY TO HELP COMBAT WILDLIFE EXTINCTION BY ELSKE JOUBERT AND ANTON PRETORIUS

biometrics and the like, which increase the degree of heightened security at the access points. Added to this reserve area network, we now have the capability to stream live video to rangers in the park and this helps them to see what is going on in the reserve in real-time. Phase 1 has thus been to create this ‘reserve area network’ and to improve the security at entrance gates. Phase 2 will include the use of drones, infrared cameras, thermal imaging, seismic sensors, and vehicle tracking. If you’re a visitor to the reserve in whatever capacity, we will attach some form of sensor to the vehicle by which we will be able to track that vehicle when it enters the reserve. We then apply some form of data analytics to estimate when that vehicle should be out of the reserve.

Top500 9th Edition 49

“We’ve seen a 96% reduction in rhino poaching in the particular area where we have deployed this technology and a 68% decrease in incursions. There has definitely been an improvement THIS PROJECT. HOW AND WHERE DID THIS PARTNERSHIP START?

We have a longstanding relationship with Cisco. Bruce Watson is one of the founding members of Dimension Data and manages our relationship

“

DIMENSION DATA IS COLLABORATING WITH CISCO ON

CONSERVATIONISTS HAVE PREDICTED THAT RHINO

MAY BECOME EXTINCT IN SOUTH AFRICA BY 2025. THIS

CONNECTED CONSERVATION WILL AID SIGNIFICANTLY IN COUNTERING THIS. BUT WHAT ELSE CAN WE AS SOCIETY DO TO HELP PREVENT THE POACHING OF ENDANGERED SPECIES?

with Cisco globally. He approached Cisco to say that as Dimension Data, we are looking to make a difference, and start off with the concept of

The most important thing is education. We need to educate people on

protecting wildlife. Cisco was very keen to partner because it’s a great

the benefits of conservation first and foremost to our country, in terms of

opportunity to do good and to showcase the power of technology.

eco-tourism, job creation, etc., as well as educating people abroad who believe that animal parts have certain benefits.

DOES YOUR COMPANY HAVE A PASSION FOR

CONSERVATION AND WOULD YOU SAY IT FORMS PART OF YOUR COMPANY CULTURE?

Another important aspect is educating local people in neighbouring communities about the continuous income streams that conservation creates, as well as the funds that come from abroad into South Africa

I’m personally very passionate about conservation, having worked in

through tourism.

wildlife. As a company, we are a proudly South African organisation, passionate about the conservation of wildlife.

It’s also important to educate children at grass-roots level in terms of certain fallacies and opinions around what certain benefits of animal products are

50 Top500 9th Edition

CONNECTED CONSERVATION

EDITORIAL

YOU’RE PILOTING THIS TECHNOLOGY IN A RESERVE

and that there’s no truth in any of it. We can start by educating our own

CLOSE TO THE KRUGER NATIONAL PARK. WHERE ELSE

children and impacting the communities around us.

HAS IT BEEN DEPLOYED?

HAVE YOU SEEN AN IMPROVEMENT IN THE NUMBER

OF RHINO AND OTHER ENDANGERED SPECIES SINCE

We’ve got a number of people engaging us in exploring aspects of this

DEPLOYING THIS TECHNOLOGY?

technology. It’s not necessarily the cheapest solution and we can’t fund them all. There are two or three other reserves that are exploring this

We’ve seen a 96% reduction in rhino poaching in the particular area

opportunity. I think once we’ve rolled out the second phase we’ll get

where we have deployed this technology and a 68% decrease in

more adoption.

incursions. There has definitely been an improvement.

STATS, NUMBERS & FIGURES RECORDED NUMBER OF RHINO POACHED IN SOUTH AFRICA

NUMBER OF RHINO POACHED

1400 1200 1000 800 600 400 200 0

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016 YEAR

Source: https://www.savetherhino.org

THREE: 3 500+

RHINO POPULATION FIGURES TWO:

5 040-–5 458

1. WHITE RHINO – BETWEEN 19 666 AND 21 085 FOUR:

2. BLACK RHINO – BETWEEN 5 040 AND 5 458

100

ONE:

19 666-–21 085

3. GREATER ONE-HORNED RHINO – 3500+ FIVE:

61–63

4. SUMATRAN RHINO – 100 5. JAVAN RHINO – 61–63

Source: https://www.savetherhino.org Rhino population figures at the end of 2015 Source: https://www.savetherhino.org

Top500 9th Edition 51

a fork in the road

BY ANTON PRETORIUS South Africa is home to one of the farthest-reaching and highest-quality transport networks on the African continent, which is good news for aspiring transport entrepreneurs as well as our mercurial economy.

OVERVIEW South Africa has a modern and well-developed transport infrastructure. The air and rail networks are the largest on the continent and the country’s ports provide a natural stopover for shipping to and from Europe, the Americas, Asia, Australasia and the east and west coasts of Africa. Government has highlighted the transport sector as a key contributor to South Africa’s competitiveness in global markets. It is regarded as a crucial engine for economic growth and social development, and the state has unveiled plans to spend billions of rands to improve the country’s transport infrastructure.

BUILDING BRIDGES Earlier this year, the South African National Roads Agency

(SANRAL)

announced

road

infrastructure

development programmes with a total investment value of R1.6-billion for the national road network in Nelson Mandela Bay Municipality (NMBM) and the District Municipality. SANRAL will break ground for six new construction, maintenance and upgrading projects in its 2017/18 financial year. Three of the projects will improve the quality of the R75 and N2 for Uitenhage, Joe Slovo and Colchester. SANRAL also announced the construction

52 Top500 9th Edition

TRANSPORT

SECTOR OVERVIEW

of a modern highway along the Eastern

entry into the continent could be changing the

Cape’s remote Wild Coast that’ll feature two

narrative. Within 12 months, Uber expanded

massive bridges, the longest and highest in

its footprint on the continent with operations

Africa.

in more than 15 major African cities, and some 60 000 drivers in Egypt, Ghana, Kenya, Morocco,

DOWN WITH LOGISTICS COST

Nigeria, South Africa, Tanzania and Uganda. Because of its competitive pricing, quality

Despite the country being a leader in

standards and convenience, many people prefer

transport and logistics, South Africa needs

Uber to traditional taxicabs.

to reduce its logistics costs, according to the Logistics Performance Index, published

As a result, Africa’s local tech companies are

by the World Bank. In 2016, logistics made

creating their own apps that provide various

up 11.8% of South Africa’s gross domestic

types of unique transportation services, tailored

product (GDP) – amounting to R500-million.

to suit customers in different countries and cities,

Transport costs formed the largest portion

giving them an edge over foreign services. In

of the logistics sector (55%) with land-freight

total, Africa now hosts nearly 60 ride-sharing

transport volumes at 856 million tonnes by

services across 21 countries.

the end of 2016.

BY THE NUMBERS

ROADS TO BOOST INTRAAFRICA TRADE

96% of South Africa’s exports are conveyed

Transport infrastructure – road, rail, shipping

747 000 KM South Africa’s total road network

and air cargo – will be a vital ingredient of

– longest network of roads of any African

the free trade agreement that 26 African

country

countries Preferential

are

rapidly

Trade

by sea

finalising.

agreement,

The

entered

into by the Southern African Development

20 247 KM South Africa’s total railway network – 14th longest in the world

Community, the East African Community and the Common Market for Eastern and

2.2 MILLION South Africans commute by

Southern Africa, aims to boost intra-African

train every day

trade, which is presently low compared to other world regions. The initial agreement

98% of South Africa’s commercial traffic is

was recently signed in Uganda.

handled through its 10 airports

UBER EXPANDING ITS AFRICAN FOOTPRINT

10 MILLION people depart from South

Global ride-sharing company Uber’s plans

48% transport infrastructure’s contribution to

to dominate the African transport sector

SA’s GDP

continue to face resistance from local taxi companies. In places like Cairo, Freetown, Lagos, Nairobi and Dar es Salaam, public

Africa’s 10 airports annually

SOURCES Quartz Media Africa

transport is renowned for being unregulated,

Brand South Africa

unreliable and dangerous. However, Uber’s

News24 Infrastructure News

Top500 9th Edition 53

dollar thrifty car hire Established in 1981, the SAFY Group employs more than 1 300

widespread presence has huge benefits in terms of convenience and

people, and controls assets of over R1-billion, with an annual

accessibility, allowing us to meet and support our customer’s every

turnover of R2-billion. Following its purchase of the South African and

need, while facilitating the quick and easy collection and return of

Namibian franchise for Thrifty Car Rental in May 2002, as well as the

rented vehicles.

Mauritian franchise in 2015, the SAFY Group is continuing to drive the South African car rental industry forward, focusing its efforts on

OUR AWARDS

offering premium affordability to both business and leisure customers

At Thrifty Car Rental, we are proud to have been recognised as:

alike, as well as uncompromising standards of safety and customer service.

• A Top 500 Company in South Africa • A Fortune 1000 Company in 2003

OUR BACKGROUND South Africa’s car rental industry is a thriving one, thanks in equal

• The ‘Best Car Rental Company in its Class’ for the past five years, with numerous ACSA Feather Awards to our name.

part to its excellent road infrastructure, and the number of global brands operating within the country. Since 2002, Thrifty Car Rental has

THRIFTY VAN RENTAL

continued to position itself as one to watch in the automotive rental

A subsidiary of Thrifty Car Rental, Thrifty Van Rental offers a

space, both as a proudly South African company, and as a division of

comprehensive fleet of single and double cab vehicles, 4x4s and

the SAFY Group.

panel vans for all commercial requirements. Operating under the Thrifty Car & Van Rental banner, Thrifty Van Rental is represented at all

ABOUT US

Thrifty branches nationwide.

As one of the fastest-growing independent car rental companies in South Africa, Namibia and Mauritius, Thrifty Car Rental’s number one

OUR VISION

priority is always our customer. For this reason, we strictly adhere

Through our commitment to world-class quality and service

to the regulations of the South African Vehicle Rental and Leasing

excellence, we aim to not only meet, but exceed customer

Association. We believe in good business practices, and ensuring our

expectations at every interaction and in every possible way.

standards of quality and service are nothing short of exceptional.

OUR MISSION How do we achieve this? We retain only the most skilled, most

At Thrifty Car Rental, our mission is to continually improve our

experienced staff and we listen to our customers, giving credence to

performance and extend our portfolio through efficient management,

their feedback. We act in a prompt, pro-active, and effective way in

ethical, principle-driven leadership, and the sharing of capabilities,

order to not just meet our customers’ needs, but exceed them. In this

knowledge, resources and information. Above all, our unwavering

way we are able to achieve the high levels of success and excellence

commitment is to offer only the best in safe, secure, reliable vehicles to

that we continue to set for ourselves – a strategy integral to our

valued customers across South Africa.

company culture.

OUR FOOTPRINT

OUR PURPOSE STATEMENT Passion and service excellence are what continue to drive our business

At present, Thrifty Car Rental has a strong national footprint

forward, with a strong emphasis on flexibility, competitiveness,

throughout South Africa, with representation at all major airports, city

dynamism, trust and loyalty.

centres and downtown locations, numbering 31 branches in total. This

54 Top500 9th Edition

DOLLAR THRIFTY CAR HIRE

PROFILE

OUR CUSTOMER SERVICE At Thrifty Car Rental, we believe that working hand in hand with our customers is the key to delivering customer service that continually goes the extra mile. To this end, we have dedicated an entire department to the ongoing monitoring, analysis and enhancement of our customer service offering – a department whose staff are fully committed to determining and understanding our customers’ needs in order to improve our standards of service as a whole. In this way, by attracting, retaining and developing employees of value, we ultimately become a company of value – one dedicated to assembling a highly-skilled, highlymotivated team, tasked with accelerating Thrifty Car Rental’s growth and excellence in the customer service space. This focus on teamwork has enabled us to create a collaborative environment within the company, one that thrives on identifying talent, providing regular training, and continually raising the bar to ensure extraordinary levels of customer

Company Information

in, and visit our country. We firmly believe that only in safe and secure environments can people feel the confidence to live freely and without fear; and for this reason making our clients’ worlds better and safer places is at the core of our business philosophy. As industry leaders in convergent security, we have a wide range of technologies and capabilities to offer multi-faceted and robust security solutions. We also provide cohesive and cost-effective safety and security strategies based on a blend of better guarding skills, intelligence gathering and new technology. Excellerate Services’ vision is to be Africa’s leading trusted provider of fully integrated, self-performing property-related solutions and services. Our mission is to add real, measurable value to our clients by going beyond minimum standards to ensure our clients’ properties are secure, that tenants and visitors are safe and that the buildings are clean and gardens well maintained.

Executive Chairman: Sibusiso Ncube

Chief Executive Officer: Clinton Phipps Managing Director: Derek Lategan Financial Director: Laura Moodley Technical Director: Glenn Allen

Key Accounts Director: Anthony Feuilherade Head of Human Resources: Chantal Pillay

Company Statistics BEE Contribution Level: 2 Black Empowerment

• Shareholding: >50.1% • Total staff: >50.1% • Executive directors: 25.1%–50% Gender empowerment

We are incredibly proud to be who we are, to do what we do, and to do it in the way that we do. We carry out our daily operations with morals and values second to none and strive to continue leading by example. Current customer base: Retail, finance, government, commercial and industrial, hospitality, health, education, community, residential Services offered: Security guarding, security technologies (CCTV, access control, intruder detection, fire detection), private investigations, training and event security.

Female staff: 5%–25% Year founded: 1978

Founding members: Clinton Phipps,

Anthony Feuilherade and Derek Lategan

Contact Details Address: 43 Sea Cow Lake Road, Springfield Park, Durban Tel: +27 31 579 7600

Email: info@excellerate.co.za A DIVISION OF

74 Top500 9th Edition

Website: www.excellerate.co.za

SAMSUNG NAC

ADVERTORIAL

CONTACT DETAILS: +27 11 421 4008

+27 86 241 4636

info@samsungnac.co.za

SAMSUNG NAC

www.samsungnac.co.za

ABOUT US Samsung NAC provides Wireless, Voice, Data, Security, VOIP, LCR, Call Center, Voice Logging, Fax2Email, Broadband, LTE and many more solutions to its clientele. It is a fully BEE-empowered company as well as a member of the Savant and has affiliated itself to Verizon, one of South Africa’s largest independent service providers. NAC is an accredited partner of Cell C’s community projects. PRODUCTS • CCTV

• Phones

• Demo Units

• Promotions

• Office Copiers

• Toner Cartridges

• PBX Systems

• Tools

The Public Sector Manager magazine, produced by Government Communications and Information System, is targeted at middle and senior managers in the public sector, responsible for implementing government programmes and operations. The magazine helps public servants in understanding their mandate and share

best practices in order to serve their country better. PSM critically examines issues of importance to senior public servants and the nation at large. In addition, PSM features various business and lifestyle features including

travel, book and car reviews, financial fitness and healthy living – striking a balance between professional pressures and personal well-being.

With PSM digital, you can get instant access to this content from your smartphone or tablet. Visit www.gcis.gov.za for more information.

Nardine Nelson: 082 739 3932, nardine.nelson@topco.co.za

CYBER HEIST BY ANTON PRETORIUS

76 Top500 9th Edition

BIG CYBER HEIST

EDITORIAL

IN TODAY’S DISEASE-RIDDEN CYBERSPACE, COMPANIES

Whether you’re an individual or institution, everyone is at risk

IN AFRICA ARE FALLING VICTIM TO MALWARE INFECTION,

of ransomware attacks. But there is a higher degree of risk

AND RANSOMWARE ATTACKS ARE BECOMING MORE

attached to businesses, more so those that handle confidential

FREQUENT ON THE CONTINENT BECAUSE USERS DON’T

and sensitive information, to whom the effects of ransomware

EMPLOY ADEQUATE PROTECTION AND NEGLECT KEY

could be devastating from both a financial and reputational

SECURITY STEPS THAT COULD HELP SAVE THEM.

perspective.

magine this: You’re in the middle of a financial year-end when

David Jacoby, senior security researcher at Kaspersky Lab US’s

a blue-screen message pops up on your computer that reads:

global research and analysis team, has witnessed an increase in

“Your operating system has been locked. Type in the encryption

the number of professional cyber-gangs using ransomware in the

key. Visit website blah-blah to pay the ransom.” BOOM! Your

last two years. “It’s a game of cat and mouse,” says Jacoby. He

company’s entire (and highly-sensitive) financial database has just

believes that the Internet makes malware available to virtually

been compromised and held hostage by cyber-extortionists. The

anyone with criminal intent.

timing is awful. The deadline is tomorrow. “It’s increasingly becoming a problem in South Africa and What do you do? Do you remain headstrong; refuse to pay the

companies are reluctant to report any instances for fear of

ransom as a counter-offer? You threaten with legal action in the

reputational damage. It’s quite embarrassing to tell clients that

hope they’ll crack first and unlock your computer. Or do you just

the company lacks security,” says Jacoby, “but it also depends

suck it up and pay the $300 (R4 500) ransom in Bitcoin in the hope

on the institution, especially those that handle sensitive data.”

that these cyber-blackmailers restore your server’s functionality before tomorrow’s cut-off. Most people opt for the latter.

Cyber-hackers even target government institutions like hospitals, compromising patients’ sensitive medical records. Doctors

Ransomware is probably one of the most feared cybersecurity

are unable to access your personal medical files due to the

threats in today’s digital age. It’s a class of malware that encrypts

encryption, making it impossible to check things like your blood

(kidnaps) all files on your computer and only releases them (kept

type or allergies. By compromising your files, it doesn’t just affect

hostage) when a ransom is paid through an untraceable Bitcoin

the hospital but also you as a patient.

account to the hacker holding the encryption key (pay-off). Globally, ransomware has become a lucrative business. Experts In the past two years, there has been a significant increase

at security software company, Norton by Symantec, reported that

in ransomware attempts on financial services companies

nearly 3% of compromised users paid the ransom. Although the

throughout Africa. However, figures remain inconsistent as many

percentage seems small, it pays off for the hackers.

corporates and companies are reluctant to reveal the extent of their compromise.

Top500 9th Edition 77

EXTORTION

have already been compromised. Hackers won’t often register new

Norton by Symantec experts put it over in figures. According to

domains, but rather compromise existing ones, making it harder for

their study, they recorded:

security companies to blacklist them.

• 68 000 infected computers in a single month (average 5 700 per day) • Hackers ransom between $60–$200 (R850–R3 000) to unlock the computer • If only 3% of victims pay the ransom, hackers earn up to $33 600

Let’s say you find a vulnerability in a semi-popular South African website or forum. You can’t really blacklist the website as there are too many users who depend on it. Hackers will even infect Dropbox, Cloud and Amazon accounts.

(R480 000) per day • Some criminals earn up to $394 000 (R5.6-million) per month

THE RISK OF RANSOMWARE “Ransomware is risky business,” says Ryan van de Coolwijk, product

But it’s not just Africa that’s a target. “Bad guys don’t care about

manager of cyber and HBM liability specialist at Hollard Broker

regions,” says Jacoby. He says that these cyber-hackers develop

Markets. The core risks include interruption to operations and

malware that’s applicable for all regions. The only difference is that

financial losses resulting therefrom. This would include things like

each region (whether it’s Africa or Europe) has different players in the

incident response costs, including the investigation and mitigation

game, localising emails and phishing attacks.

of the incident, lost productivity, cost to recover operations, staff overtime costs and legal fees.

Jacoby says that these cyber-gangs have various players within each region. Some develop the actual code while others set up

“Apart from the risk of the full fallout from a data breach should

infrastructure and distribute the malware, making sure systems get

data be compromised and subsequently publicised, reputational

infected. Those who distribute the malware will often localise the

damage could lead to potential resulting loss of client and investor

content of phishing emails. It might look like an authentic email from

confidence and corresponding financial loss,” says Van de Coolwijk.

your local bank. “But ransomware itself is the same you get anywhere in the world. The only difference is in the way they distribute it.”

Another risk faced following the payment of ransom is that there’s no guarantee that your data will be returned or that you’ll receive

Phishing emails are a common hook and sinker for cyber-criminals.

the decryption key to unlock systems or devices. “There’s also no

But why are so many people still clicking on dodgy email links?

guarantee that you won’t be attacked again shortly after,” he says.

Jacoby says that it’s not all about clicking on the wrong email and that cyber-criminals are using known vulnerabilities in computer

Van de Coolwijk refers to an instance where an online gambling

software to gain access.

service provider was hit with a ransom attack related to a DDoS attack. DDoS, or ‘Distributed Denial of Service Attacks’ are where an

“If not regularly updated, programmes like Java, Internet Explorer,

attacker takes an online service or website offline.

Google Chrome, Firefox or even your media player are eventually vulnerable to something. If you don’t patch your computer, the bad

The initial attack is typically for a relatively short period of time and

guys only need to exploit one of these vulnerabilities to install the

payment is demanded to avoid sustained attacks. Locally, several

encryption code without you having to click on any links,” he says.

instances have been reported, especially online betting companies before the Durban July horse race. “The online gambling services

It’s a domino effect. Cyber-criminals can now hack normal websites,

company paid the ransom only to be hit by the same perpetrators a

infect it with malicious code and every visitor on that website with an

week later – demanding a higher ransom than the first attack.”

un-updated version of Internet Explorer or VLC Media Players can get infected too.

BEST PRACTICE ADVICE What we also need is training that helps people develop better

Jacoby says cyber-criminals are getting smarter too. Attaching

‘cyber hygiene’. This includes teaching people to frequently update

malware to email increases the chances of security codes detecting

anti-virus software, appropriately program firewalls, and routinely

compromised files. Hackers now include links to websites that

back up their computers on discs that are then disconnected from

78 Top500 9th Edition

BIG CYBER HEIST

the network. In addition, people should be taught how to deal with a ransomware attack and stop its spread by quickly removing connected drives and disconnecting from the Internet. Jacoby advises companies to “back up, back up, back up.”

RANSOMWARE ON THE RISE

35%

Should you get infected, instead of having the headache of

drive backup that runs daily and make sure that you unplug the backup when it’s not running, otherwise, it may also get

220 2.3%

of South African computers may have been infected with malware over the last 24 hours, according to Kaspersky Lab data.

encrypted,” says Jacoby. He also says that common sense should be applied. “People often think: ‘Well, I’m not a target. I have nothing to hide or

The increase in global ransomware prevalence from last year, according to the Norton by Symantec 2016 ISTR report. The number of ransomware attacks in South Africa, according to a Kaspersky Lab report released earlier this year. From the 114 countries that the Locky ransomware variant was detected in, South Africa was the sixth highest by number of attacks and the highest in Africa.

paying ransoms, you can simply reinstall your machine and put the backed-up files back on your computer. “Have an external

EDITORIAL

information that hackers can use. These bad guys don’t care who you are as an individual. They target the masses and you are part of the masses.” He adds that you can’t just install one security product and

$1.22 -BILLION

assume you’ll be protected. It’s important to remain vigilant when you’re online and be careful what you click on. Make sure your

in lost business from malware events were recorded in the US from 2011–2015. First losses in the US were only noted in 2011. In 2015, these, combined with the business interruption claims, accounted for this amount and $23-million in recovery expenses. This is according to the NetDiligence cyber-claims study.

machine is up to date. It’s about doing simple things like normal maintenance. When you receive an email that looks dodgy, hover your mouse pointer over the link and see if it points to a reliable

40%

of South African companies are able to identify a ransomware threat, according to Kaspersky Lab.

$325

Estimated cost of a single ransomware attack according to a report on the Cryptowall v3 ransomware campaign, issued by the Cyber Threat Alliance in 2015.

address. Van de Coolwijk explains more advanced mitigation strategies like monitoring system file activity. “Monitoring system file logs and triggering alerts when, for example, a large number of file

-BILLION

encryption, deletion or creation activities are performed. This could be an indicator of a potential attack, allowing for early identification and containment of an attack.” Behaviour analytics where companies can monitor and flag behaviour outside of a user’s baseline can help identify various cyber-attacks. “It considers the circumstance where an intruder is

38.1%

Increase in victimised enterprises (compromising mostly small businesses) paying the ransom (to remove malware from electronic systems and devices) since 2012, according to ISACA (previously known as the Information System Audit and Control Association). The figure has increased from 2.9% to 41% in four years.

already on the internal network and has circumvented perimeter security controls,” says Van de Coolwijk. He adds that companies should implement privileged access controls to data, restricting access for users to only access the data they require. “Where possible, remove open shares,” Van de Coolwijk advises.

TYPES OF RANSOMWARE TO LOOK OUT FOR Malware can enter a company’s network through an email attachment. Some of the malicious software programmes include Trojan-Ransom. Win32.Onion | Trojan-Ransom.Win32.Locky | Trojan-Ransom.Win32. Scraper (TorLocker). Ransomware programmes typically encrypt user files on computers, including pdf, doc, docx, xls, xlsx, ppt, pptx, jpg, jpeg, bmp, tiff, png, mpg, mpeg, avi, 3gp, mp4, m3m, mp3, wav, zip and java extensions.

Top500 9th Edition 79

80 Top500 9th Edition

INTELLIGENCE THE NEXT BATTLE GROUND BY ELSKE JOUBERT

Globally, Artificial Intelligence (AI) is revolutionising the way we live and work. However, the adoption of digital technologies in South Africa has been slow on the uptake, which begs the questionâ&#x20AC;Ś is the country transforming digitally on par with the rest of the world, and are we adopting AI fast enough?

IN A NUTSHELL, WHAT IS AI? According to Juliet Prowse, Programme Director for Accelerate Cape Town, AI is a term that describes the area of

computer science that makes computers emulate human intelligence. Machine learning is the part of AI that makes a computer appear intelligent by being able to adapt to outcomes and feedback. AI and machine learning mean that bots or machines can now apply advanced analytics with the purposes of automating tasks and getting better results, ultimately via a self-regulating learning process.

Top500 9th Edition 81

SO, WHAT HAS THE UPTAKE BEEN LIKE

WHY DO WE NEED AI? Accenture, through their technology vision research, predicts that in five years’ time the majority of consumers

will

make

decisions

based on a company’s AI, rather than their brand. The research has also identified three key trends that will define a future where AI will be a key driving component:

and machinery.

THE DIFFERENT SECTORS?

In South Africa, there are many smart water, Business in South Africa is currently either

electricity and gas meter projects aimed at

considering using, or utilising, AI. In a recent

upgrading legacy infrastructure with smarter

Accelerate Cape Town survey of the Accenture

devices

members who are corporate businesses, 33.3%

management. Metro cities in particular have

said that they are either utilising or implementing

embraced the concept of IoT to enable smart

AI and machine learning.

city management through a number of initiatives,

improve

efficiencies

revenue

like smart street lights and traffic management.

• An adaptive workforce: Workers who are innovative and agile will be instrumental in helping companies go fully digital. The bureaucratic management model will become obsolete. • Ecosystem

IN SA IN TERMS OF GROWTH OF AI IN

through predictive maintenance on equipment

power

The ways that South African companies are

The mining industry already uses IoT for tracking

utilising AI include bots being able to provide

or temperature devices. Interpreting data and

virtual assistance such as responding to consumers

turning it into actionable data through AI analytics

in social media campaigns or to customer queries,

will be the key success factor driving the adoption

CVs being reviewed by a bot to recommend the

of AI in other sectors of the South African market,

top 10% candidates, and being used to sift through

Perumal concluded.

vast quantities of data and providing analysis.

plays:

Core

business functionalities integrating with third parties in order to deliver

WHAT ARE THE SPECIFIC SECTORS A distinction must be made between AI and machine learning (which is a sub-category of AI and of which there are fewer examples) where

OR INDUSTRIES THAT HAVE BEEN

SIGNIFICANTLY DISRUPTED BY THE USE OF AI?

a more personalised customer

the machine is able to adapt its behaviour or

service is the way forward. These

response. Prowse says businesses are, however,

AI, machine learning and robotics are going to be

ecosystems will spur growth and

very interested in what AI and machine learning

a huge disruption globally, according to Prowse.

help with the design of future value

can do to help them solve business problems and

AI will impact all industries in all geographical

chains – changing businesses,

improve productivity.

areas. It’s going to impact low-skilled work, but

products and possibly the market itself.

also high-level skills such as legal, accounting and According to Vinny Perumal, Managing Director at

investment banking. The World Economic Forum

Macrocomm, as the Internet of Things (IoT) starts

(WEF) says that AI will perform 30% of corporate

• AI as the new UI: AI, in the form

to gain wider traction, a tremendous amount of

audits in 2025 and Goldman Sachs recently got rid

of natural interfaces like voice,

data will be produced from sensors and devices

of 600 equity traders and replaced them with 200

gesture,

language

connected to the Internet. The data produced will

computer engineers with only two traders.

processing, will take over most

hold extremely valuable insights, which need to be

user, customer, employee and

turned into actionable data. The only way to make

Perumal says that the public and private utility

partner

will

sense of IoT-generated data and to gain valuable,

space has the most mature smart devices used

assess the wants and needs of the

actionable insight, is with machine learning, a sub–

to improve revenue management. It allows them

user by applying deep-learning

category of AI.

to offer additional services to end–users, such as

touch

and

experiences.

algorithms,

contextual

managing peak loads and energy consumption

analysis

image-recognition-enabling

Perumal goes on to say that AI can be used

through analysing the data collected from the

technology that are constantly

to help cities predict accidents, reduce crime,

meters. Utilities, especially municipalities and

adapting. In essence, AI will

manage traffic, give doctors real-time insight into

real estate management, are implementing smart

become the face of the company

information from pacemakers or monitors, and

utility management as a service to drive additional

and user interface (UI). company.

enable optimised productivity across industries

revenue from a municipal service to end-users.

and

82 Top500 9th Edition

ARTIFICIAL INTELLIGENCE

EDITORIAL

THE SPEED OF AI ADOPTION

OTHER POSSIBLE PITFALLS OF AI INCLUDE:

AI is currently being adopted to varying degrees across South Africa

• Cyber-warfare – which can be counteracted by ‘counterintelligence’

and is already being integrated with Big Data and IoT. We can expect to see greater application of AI, machine learning and robotics in the next few years. In developed countries, the adoption will be at a higher rate, while developing countries will need to balance technological advances with job losses.

AI • Data privacy – AI is not only going to interrogate people’s private data, but will also make decisions based on that data • Legislation – legally, AI hasn’t yet been granted the status of personhood, thus, the issue of who will take responsibiltity for the execution and consequences of some decisions is not yet determined

WHAT ARE SOME OF THE DANGERS OF AI?

WHAT IS HOLDING SA BACK FROM RIDING THE FULL AI WAVE?

Factors that hinder the development and adoption of AI in South Africa include data quality and privacy, the readiness of the workforce to adapt, the re- and upskilling of the current workforce and potential job losses. What emerged from the Accenture and GIBS Business School roundtable discussion on AI held in July 2017, was the fact that greater organisational competency is needed in data science, on the C-Suite level, for AI to reach its full potential in SA. Owing to South Africa’s structural deficiencies, the country is unable to fully integrate new technologies into the economy. Weaknesses include poor quality of: Machines are continuously learning and analysing data and a big

• The education system – on both primary and tertiary levels

concern is that machines will eventually exceed human intelligence. Ray

• Scientific research institutions

Kurzweil, Director of Engineering at Google, said “By 2029, computers

• Innovation ecosystems on a national level

will have human-level intelligence”. Tech titans like Elon Musk have

• Infrastructure to support growth

warned that we need to regulate AI before it becomes a danger to humanity.

These deficiencies, together with low levels of trust and lack of collaborative mindsets hinder the creation of an optimal environment.

A big concern, according to Prowse, is what AI, machine learning and robotics will do to jobs. Technology should be part of basic education as a core competency, because the digital divide is likely to get bigger as these technologies become more widely adopted. Perumal, however, believes that the view that human intervention will be eliminted is a premature one. He says that insights gained from analytics through AI still need to be made meaningful by actionable

“GREATER ORGANISATIONAL COMPETENCY IS NEEDED IN DATA SCIENCE, ON THE C-SUITE LEVEL, FOR AI TO REACH ITS FULL POTENTIAL IN SOUTH AFRICA”

tasks performed by humans. For example, the key to achieving active, not just smart cities, is through the analysis of real-time data gathered from the sensors and actioned in real-time by the respective public sector teams within the city. Sources Accenture & Gordon Institute of Business Science White Paper on Artificial Intelligence Contributors: Juliet Prowse, Programme Director: Accelerate Cape Town; Vinny Perumal, Managing Director: Macrocomm

Top500 9th Edition 83

restaurant vs fast food

BY FIONA WAKELIN

Where are South Africans choosing to spend their hard earned discretionary rands when it comes to eating out? INCOME EARNED FOR THE YEAR 2016 FOR RESTAURANTS AND FAST FOOD OUTLETS Restaurants and coffee shops: R17 351 500 000 – 49.5% Take-away and fast food outlets: R17 692 300 000 – 50.49% Whilst they are nearly running neck and neck, the fast food outlets are first choice for South Africans. The total income earned by both outlet types was a staggering R35.05-billion in 2016. FOOD SALES Most of these billions come from food sales – 90% of income was from selling food in fast food outlets and 76% in restaurants. BAR SALES When comparing bar sales for both restaurants and fast food outlets, not surprisingly restaurants and coffee shops earned the highest percentage of income – approximately 21% (including non-alcoholic beverages) – while this line item only represented 2.9% of income in the fast food sector. TRENDS AND TASTE BUDS The restaurant industry was hit hard by the global meltdown in 2008 and in the quest to save, whilst still getting bangers for their buck, the public voted with their feet, their wallets and their taste buds by increasingly choosing to patronise fast food and take-away outlets.

84 Top500 9th Edition

FOOD AND BEVERAGE

SECTOR OVERVIEW

Over the last three years there has been a

HOMEGROWN

modest recovery in income earned from

Nando’s is a homegrown success story. Founded in

restaurants and coffee shops; 2016–2017

1987, Nando’s operates about 1 094 outlets around

however reflected a slight slow down in fast

the world, with the most number of stores in the UK.

food franchise growth in South Africa, with the total number of chains declining year-on-year

Countries with the most Nando’s stores

from over 4 841 stores in May 2016, to around

United Kingdom: 339

4 780 stores in May 2017.

Australia: 264 South Africa: 259

KINGS AND QUEENS OF THE FFF CASTLE

Malaysia: 56 Canada: 30

BRAND

NUMBER OF STORES

KFC Steers Wimpy Debonairs

840 542 492 473

FOOD HOLDING COMPANIES TOP FOOD HOLDING COMPANIES IN SOUTH AFRICA Tiger Brands Famous Brands

The total number of fast food franchises (FFF)

Taste Holdings

declined slightly between 2016 and 2017

Spur Corporation

because, whilst established brands like KFC,

Wembley Group

Steers and McDonald’s expanded, others contracted. ChesaNyama dropped from 270

ALCOHOL CONSUMPTION

stores in 2016 to around 180 in 2017 – and The

The 2015 figures for alcohol consumption in South

Fish & Chip Co. saw a drop of listed stores from

Africa showed that 77.7% of all liquor consumed was

360 in 2016 to 160 in 2017.

beer: sales totalled R52.7-billion; 3.1 billion litres were consumed. And this beer-verage accounts for

GLOBAL BRANDS CONTINUE TO FLOCK

54.6% of the market share in terms of value.

TO SA Starbucks has opened four shops, Krispy Kreme

The beer market, in terms of both volume and value,

has doubled to eight, while Dunkin Donuts has

is larger than all other alcohol categories combined.

seven shops in Cape Town. Baskin-Robbins, ice cream specialist, has plans to open 50 stores over the next five years and Popeyes Louisiana Kitchen launched its first outlet in August 2017, with more stores and drive-throughs in the pipeline before year-end. Taste Holdings is making its brand transition for St Elmo’s and Scooters Pizza, with 85 of the 125 outlets now converted to Domino’s. There were no official store location details available for Nando’s and Chicken Licken in South Africa, but at last reporting there were

SOUTH AFRICA’S FAVOURITE DRINK BY VOLUME (2015) #

Alcohol

Volume (‘000 litres)

Value (R’000)

Beer

3 100 000

52 734 950

Ready to Drink Wine

424 500

12 634 555

Natural Wine

317 400

9 399 196

Whisky

36 300

8 179 842

Brandy

30 150

4 836 060

Fortified Wine

27 630

1 351 107

Vodka

22 000

3 153 040

Liqueurs

9 000

1 210 079

Sparkling Wine

7 900

818 598

Rum

6 100

1 164 307

around 259 and 240 stores for each outlet,

SOURCES

respectively.

Business tech southafricanmi

Top500 9th Edition 85

a touch of CLASS RUUD VAN DEN EIJNDEN

HEINEKEN SOUTH AFRICA SLICES UP A HEALTHY SHARE OF THE PREMIUM BEER MARKET

BY ANTON PRETORIUS In a very short space of time, Managing Director of HEINEKEN South Africa, Ruud Van den Eijnden, has been instrumental in securing a healthy portion of market share for the Dutch beer brewer within the country’s highly competitive liquor industry. Although most of the company’s beer brands like Heineken®, Tafel, Amstel and Windhoek, had long been present in the country (previously distributed through Brandhouse, a joint venture between HEINEKEN and Diageo), Van den Eijnden’s deployment has ushered in a new era as HEINEKEN South Africa increased its commitment to the local liquor market through a joint venture with Namibia Breweries Limited. Sedibeng Brewery has been producing HEINEKEN brands since 2009, but Van den Eijnden can be proud of his achievements since the company established its corporate offices in Sandton in August 2015. The company currently employs 900 staff and around 600 external sales people. “We took the company’s future into our own hands,” says Van den Eijnden when asked about the company’s recent growth. “We increased investments, increased our sales force and we improved our customer service. We’ve concentrated on being a fully beer- and cider-focused organisation.”

“I would attribute our success to an increased focus, smart investments and doing the basics right” 000 Top500 9th Edition

HEINEKEN

ADVERTORIAL

“IT WAS A LOGICAL CHOICE FOR US TO INVEST IN SOUTH AFRICA”

Under his leadership, HEINEKEN South

to other liquor markets around the world.

Africa has embarked on an exciting journey

“There’s a variety of liquor products, and

with the relaunch of Strongbow Apple

the speed at which these products enter

Ciders, and the launch of the Mexican

the market is impressive. The innovation

beer Sol, Amstel Radler and Soweto Gold.

rate is high. The market is also very

The company has also revitalised the Tafel

competitive, which is good, because it

Lager brand and managed to acquire two

keeps us on our toes.” He adds that the South African market is also very diverse. “You’ll find a lot of

Van den Eijnden says that Stellenbrau has

modern, developed liquor stores in

been on the company’s radar for a while

South Africa, but then there are a lot of

and considers it as a quality craft brand.

traditional ways of selling, distributing and

“We love the growth of the craft beer

consuming liquor products.

very interesting and we believe we also

“The

have a right to play in that category.

competitiveness make South Africa a very

diversity

He says that while local beer brands form the majority of the market, “South Africans in general are open to international brands. HEINEKEN has so many brands to offer in that space, so we’re very happy to play in it.”

market. It keeps the general beer sector dynamism,

more than other countries. It was a logical choice for us to invest in South Africa.”

local craft brewers, including the popular Stellenbrau.

have a taste for premium beers, relatively

and

interesting and attractive market.” “However, the worst mistake we could make is to fully integrate them into our

Despite South Africa experiencing low

existing model. We want to keep the

investor confidence at the moment, Van

brands separate. But HEINEKEN can help

den Eijnden says that HEINEKEN has

the Stellenbrau business gain funds, and

made a deliberate choice to invest in

allow them to tap into the company’s

operations here. “South Africa has one of

resources to help them grow much faster.”

the biggest beer markets in the world. A

The experienced Van den Eijnden says that

few years back, HEINEKEN only had 10%

South Africa’s market is unique compared

of the market share, but South Africans

Africa

currently

makes

19%

HEINEKEN’s consolidated beer volumes. On

the

continent,

South

Africa

HEINEKEN’s second biggest market after Nigeria and falls under the company’s top 20 operating companies worldwide. “My goal is to break into that top 10,” he says. He believes that there is a lot of potential for growth in the local liquor industry despite the current economic circumstances and legal uncertainty. Last

Top500 9th Edition 87

ADVERTORIAL HEINEKEN

year the Department of Trade and Industry proposed the National Liquor Amendment Bill that, if implemented, will (amongst others) raise the legal drinking age from 18 to 21. “At the moment, it’s not completely clear yet if and how the bill will impact our business and the wider industry. But in general, as HEINEKEN South Africa, we realise there is a lot of potential for growth and that is my first priority.” Van den Eijnden says that HEINEKEN South Africa is very committed to support the country’s transformation agenda. One of the key projects is showing support for the country’s farmers. “Our long-term dream is to source all malted barley locally, supplied to us by a new generation of black farmers. Although it’s a long-term plan, we’re making great progress.” HEINEKEN is also committed to showing support for local

quick-fire q&a with ruud van den eijnden

entrepreneurs through an initiative called Orange Corners – cofounded with the Dutch Embassy and other Dutch multinationals. “It’s a programme where young entrepreneurs can learn, stimulate their creativity, grow their business and expand their professional network. Currently, there are three locations in Johannesburg with the intention to grow in other rural areas of the country.” Van den Eijnden says that HEINEKEN South Africa has a very clear strategy in South Africa. “We want to build brands that excite consumers, especially in the premium beer category or segment. We want to excel in customer service and we want HEINEKEN to be seen as a company that really cares about this country and actively contributes to all its opportunities and helps with combatting some of its challenges.” He continues, “I also want HEINEKEN to be seen as an efficient company and a great place to work. Brands and people differentiate a company from its competitors. In the broader context, I would love to see South Africa become the next big talent hub for HEINEKEN worldwide. We’ve already started sending the first South Africans to positions outside of South Africa. However, I feel that we can do so much more.”

Q: Biggest wish for South Africa? I hope South Africa captures its opportunities. Economic growth is the key enabler. But to ensure economic growth, you need to create jobs. To fill those jobs, you need good education. I would say a fully functional and qualitative education system would be my biggest wish for South Africa.

Q: Favourite things about South Africa? I love working with its people, the beauty of the landscape, the climate, and the fact that there’s never a dull moment. There’s something to manage every day. It’s high-paced, but highly rewarding.

Q: Hobbies? I’m a family man with three children. I love spending time with family and friends. I’m also a fanatical cyclist. I’ve cycled the 94.7 Cycle Challenge and the Cape Town Cycle Tour, even when it was cancelled last year due to the wind. I did it anyway. Cycling is a beautiful way to explore South Africa.

Q: Inspiration? Since the age of 12, I’ve been a big fan of Irish pop band, U2. I love their music but also the band’s ability to reinvent themselves every couple of years.

88 Top500 9th Edition

AIR CHEFS SOC LTD

ADVERTORIAL

AIR CHEFS – SOUTH AFRICA’S LEADING CATERING COMPANY VISION: TO BECOME AFRICA’S LEADING CATERING COMPANY.

Air Chefs has central production units in Johannesburg, Cape Town

MISSION: TO DELIVER COMMERCIALLY SUSTAINABLE AIRLINE CATERING SERVICES IN SOUTH AFRICA AND AFRICA.

International Airport. The new state-of-the-art catering facility at King

Air Chefs is a wholly owned subsidiary of the South African Airways

The 1 500 square meter unit is situated close to the aircraft parking bays

Group (SAA) and a leading South African catering company with the

and Durban in close proximity to international airports; OR Tambo International Airport, Cape Town International Airport and King Shaka Shaka, which opened in June 2016, promises expansion and growth opportunities in the KwaZulu-Natal region.

and acts as a central production facility which can safely and comfortably

capacity to produce 44 000 meals a day.

produce up to 7 500 cooked and prepared meals a day. The facility also

Air Chefs provides in-flight catering services to SAA, SWISS International

catering companies.

Airlines, SA Express, and Mango in South Africa, as well as a number of

has the capability of producing meals, snacks and products for selected

other airlines.

A number of international airlines now fly from Durban, and other food

“We are very pleased to have been ranked, for the second year in a row,

that all facilities can be used for non-airline catering opportunities, as

in the Top 5 Best Managed Catering Companies as chosen by Top 500,”

service companies are in need of large scale catering. Diversifying means they offer central production units for businesses that do not wish to run

says Mr Martin Kemp, Air Chefs Acting CEO.

their own kitchens or hire chefs.

Another achievement for the company was the addition of SWISS

The production facilities are ISO 22000 certified – the global food safety

International Airlines in November 2016 – its first international airline

management system standard – demonstrating its commitment to food

catering contract outside South Africa.

safety systems and Hazard Analysis of Critical Control Points (HACCP)

Recently Air Chefs has also diversified its offering to target the wider

approval in the world and it sets Air Chefs apart as a top-quality caterer.

food service market, providing catering to corporate clients, ready-made

principles and criteria. ISO 22000 is one of the highest standards of

meals for contract caterers and other food service offerings.

Air Chefs has a fleet of hi-loader and refrigerated vehicles, which provide

The strategy to diversify into non-airline customers gained traction with

1 200 employees, who receive ongoing in-house and external training

Air Chefs securing a contract to provide meals for Ster-Kinekor lounges.

swift transport in ideal conditions. The company employs more than to ensure high standards of food preparation, quality assurance, and

This national rollout is imminent and will be rolled out nationally.

adherence to world-class food safety management programmes.

Another opportunity came knocking with the acquisition of Famous

CONTACT DETAILS

Brands as a client. Air Chefs has created side dishes for the Wimpy summer menu, which include caramelised corn and creamed spinach

Address: 20 Jones Road, Boksburg, Johannesburg Tel: +27 11 978 1881

with feta cheese. The dishes were created by the Air Chefs Research and Development team and will be served with Wimpy’s Famous Grills at the more than 480 eateries across the country.

Top500 9th Edition 89

growing at a mile BY ANTON PRETORIUS IN SOUTH AFRICA, TOURISM IS ONE OF THE FASTEST GROWING SECTORS, CREATING MAJOR OPPORTUNITIES FOR DEVELOPMENT AND EXPANSION WITHIN THE ECONOMY.

OVERVIEW

According to auditing firm, Grant Thornton’s report, The South African Tourism Sector: An Economic Outlook, published in April 2017, international tourist arrivals is set to reach 1.8 billion by 2030. More visitors mean more jobs, which will ultimately contribute to a more prosperous economy for South Africa. Tourism is most definitely on the rise, and has become one of the key drivers of South Africa’s economy. In 2016, the total contribution of travel and tourism to the gross domestic product (GDP) of South Africa was R402-billion (9.3% of GDP) and is expected to grow by 2.5% to R412.2bbillion (9.4% of GDP) in 2017, according to a report by the World Travel and Tourism Council (WTTC). The total contribution of travel and tourism to employment in the country was 1.5 million jobs in 2016. This is 9.8% of total employment. The forecast is that it will rise to 6.7% in 2017. That would be 1.6 million jobs or 10.2% of total employment. This year, experts forecast that travel and tourism will support 2.5 million jobs or 13.2% of total employment. The UN has declared 2017 as “the year of sustainable tourism development”, with aims to promote job creation, poverty alleviation, and environmental protection.

90 Top500 9th Edition

a minute

TOURISM

SECTOR OVERVIEW

RECORD NUMBER OF VISITORS THROUGH CPT AIRPORT GATES

(NYCTP) Training. Minister Tokozile Xasa will

people moving through its ports of entry

Cookery, and advanced Diplomas in Pastry –

South Africa saw more than five million during

the

2016/2017

(December–January).

For

festive Cape

season Town

International Airport alone, a new record was set in 2016: 10 million passengers passed through its doors during the year. The tourism industry is likely to contribute

officiate the graduation ceremony where 44 learners will receive internationally recognised Certificates

and

Diplomas

Professional

accredited by City and Guilds. The department approved the training of 577 learners from all provinces in culinary skills from June 2015 to April 2017. During the training period learners were placed at various hospitality establishments across the country for workplace training.

significantly to the country’s GDP in 2017; this after experiencing the biggest decline in six years in 2015 due to confusing changes

BY THE NUMBERS

to VISA and immigration policies.

1.8 billion expected international tourist

AUSTRIAN AIRLINES ANNOUNCES NEW VIENNA TO CAPE TOWN ROUTE

More flights mean more tourists and more

arrivals to South Africa by 2030.

33.5% of international visitors to SA list ‘beautiful scenery’ as biggest positive experience.

tourists mean more jobs. Passengers from Cape Town will be able to fly directly to Vienna from October 2017. Austrian Airlines will launch two weekly return flights between

64% list hospitality/friendly people as their best experience and 9% visit for wildlife game park safaris.

the Mother City and the Austrian capital from October 2017. “Cape Town represents an expansion of our offering to long-haul tourist destinations in the (European) winter‚” said Austrian Airlines chief commercial officer Andreas Otto. The airline is adding a sixth Boeing 777-200ER to its fleet to serve the Cape Town route and allow it to start flying directly to Tokyo in Japan. In addition to economy and business class‚ Austrians will also offer premium economy to Cape Town.

DEPARTMENT OF TOURISM TO HONOUR CULINARY STUDENTS

The Department of Tourism, through its Social Responsibility Implementation (SRI) Programme, will host a graduation ceremony to honour students from East London (Eastern Cape) who participated in the National Youth Chefs Training Programme

MOST VISITED ATTRACTIONS IN SA 1. Cape Town Central City 2. V&A Waterfront

3. Table Mountain Cableway 4. Cape Point 5. Winelands

6. Robben Island 7. Garden Route

8. Kruger National Park 9. Apartheid Museum

10. Durban Beach Front

SOURCES Times LIVE

The South African Tourism Sector: An Economic Outlook (Grant Thornton | Gillian Saunders – April 2017) – SANParks World Travel and Tourism Council

Top500 9th Edition 91

SOUTH AFRICAN

CONFERENCING

& EVENTS TRENDS

BY ELSKE JOUBERT

ourism Minister Tokozile Xasa says the International

“These conferences generate a direct economic benefit for

Congress and Convention Association (ICCA) continues

our country, which includes what delegates spend on hotel

to rank South Africa as the top business events

accommodation, food and beverages, and souvenirs.”

destination in Africa and the Middle East. “We are also one of the world’s top 10 long-haul destinations for hosting international meetings and conferences,” the Minister said. Minister Xasa spoke at the 2017 Southern Africa Association for the Conference Industry Congress and said that about one million business delegates are hosted by South Africa every year and that the average business traveller spends approximately seven days in the country – five of which are spent attending a business event.

WHAT ARE SOME OF THE TRENDS? Julie-May Ellingson, CEO of CTICC, says that flexibility and interactivity are the buzzwords in the industry. New formats are being adopted by conference producers – with the aim of creating different types of engagements and networking experiences. Producers are looking for more informal spaces that are able to offer different seating structures, new techonology and digital tools. According to Ellingson, clients host events because of the need for face-to-face interaction, and venue spaces that encourage interactivity and engagement are highly sought after.

92 Top500 9th Edition

SOUTH AFRICAN EVENTS & CONFERENCING TRENDS

Minister Kganyago, Conference Marketing Manager for ATKV resorts says, “The wave of innovation has totally engulfed the events and conference industry. Gone are the days where it’s all about the four walls the venue owner has to offer. In fact, today, it is no longer about thinking outside the box because industry service providers are now challenged with the recognition that there is no box. The industry has got to get rid of the ‘box-think’

EDITORIAL

CONVERGENCE In 2017, everyone and everything is connected. Convergence is disrupting the industry and with the focus being on innovation for the last couple of years, it’s safe to say that ‘convergence’ is the new innovation. We’ll see a mash of different speakers, content and experience come to the fore going forward.

completely.

THE FESTIVALISATION OF MEETINGS

“Those that are able to deliver on the promise in a creative and

The increasingly common festivalisation of meetings is the physical

innovative way, acquire and retain the business. It is now more

manifestation of the rise of convergence reshaping business event

about curating memorable experiences for your clients than it is

programming.

about the actual venue. The Airbnb open conference, for example, brings together over “Today’s venue owners, PCOs and event organisers will have to

5 000 Airbnb hosts from around the world to discuss business

strive to ensure that the conference delegates or guests go home

strategy, and is positioned as “a festival of hosting.”

with a unique and memorable experience. The classic theory of Narratology has set in – clients, guests and delegates now solicit

All experiences are morphing together into the festivalisation of

the narrative of memorable lived experiences.”

events. Conferences are added to concerts, there are new styles

IT’S A BOUT THE ‘WHY’ OF CONFERENCING

of collaboration to meetings, and consumer elements are added to trade shows.

is ‘why’. Why should the meeting/event/conference happen

BUSINESS EVENTS ARE EXPERIENTIAL BRAND MARKETING PLATFORMS

and why is it important for delegates to attend. The industry is

Event organisers are positioning events to form part of a broader

moving away from event tech and moving towards adopting

experiential brand marketing platform, i.e. brands are amplifying

a multidisciplinary approach, with the aim of engaging with

their messaging so that conferences no longer happen in isolation,

attendees in more enriching ways.

but form part of their larger marketing strategy.

The 2017 buzzword for the events and conferencing industry

SOURCES http://www.theevent.co.za/

https://www.cbn.co.za

https://skift.com Top500 9th Edition 93

DITCH THE DULL

CONFERENCES

ATKV RESORTS’ WELL-EQUIPPED CONFERENCE FACILITIES AN ‘AMBIENCE OF INNOVATION’ Events are all about experiences. Tedious corporate conferences

What’s been a real drawcard for the resort chain is their range of

often leave delegates feeling bored and uninspired. But a venue

well-equipped conferencing facilities for corporate groups.

that offers world-class conferencing facilities, comfortable accommodation and exciting entertainment amenities will

Capable of accommodating up to 800 delegates, ATKV’s range

encourage delegates to be innovative. ATKV Resorts recognises

of conference venues stimulates positive and innovative business

that when it comes to creativity and innovation, there is no box.

thinking in a peaceful and serene setting.

Apart from the destination, the second biggest feature guaranteed

Minister Kganyago, Manager for Business Tourism Marketing

to make your event stand out from the competition is the venue.

at ATKV Resorts, says that ATKV Resorts offer various tantalising

We’ve seen conference facilities in all of their available varieties,

venues in strategic parts of the country for ‘tranquil conferences

but to create a different, unique impression for potential visitors,

and meetings where creativity is unlimited’. “At the ATKV Resorts,

you need to ‘think differently’. Enter, ATKV Resorts.

we encourage everyone to do away with ‘out-the-box’ thinking as there is no box. We have to get rid that mentality in order to

ATKV Resorts is a 100% South African company employing South

achieve innovative business solutions,” says Kganyago.

African citizens while making use of pure South African products. According to him, ATKV Resorts is capable of tailor-making Situated in some of the most beautiful regions of the country and

conference and meeting packages to your specifications. “Our

surrounded by cultural gems, heritage sites and other exciting

flexible conference coordinators will meet the needs according

tourism attractions, ATKV Resorts operate seven resorts in four

to your wants and desires to ensure that you ultimately achieve a

provinces across the country.

successful corporate event.”

Apart from its plush accommodation, visitors can enjoy a host

“At ATKV Resorts, we say, let’s not make conferences monotonous.

of entertainment facilities, including heated indoor and outdoor

Our focus is to incorporate innovation and help delegates

swimming pools, jacuzzis, waterslides, trampolines, golf, adventure

think differently about conferencing. So say goodbye to dull

putt-putt, horse-riding, birdwatching and sports like volleyball,

conferences. Don’t pack light! Bring that enthusiasm, smiles and

squash and tennis.

interaction, because at any of the ATKV Resorts, you’re bound to have a memorable experience.”

94 Top500 9th Edition

ATKV

ADVERTORIAL

ATKV RESORTS KLEIN-KARIBA A mere 90 minutes from Johannesburg, just outside Bela-Bela, lies the inviting ATKV Klein-Kariba resort in one of the Waterberg’s most beautiful kloofs. This top-class resort offers a wide range of accommodation options with true Bushveld hospitality. With various activities, recreational facilities and amenities such as a restaurant, fast-food division and a well-stocked shop, there is no such thing as boredom at ATKV Klein-Kariba. NATALIA ATKV Natalia Beach Resort offers hours of action, relaxation and fun for the entire family. Recreational activities and facilities at the resort include a semi-private beach with shark nets and lifeguards, a heated outdoor swimming pool, miniature golf, trampolines, snooker, pool and games arcade and fishing. Facilities at the resort include the Koswerf Restaurant, a convenience store, ATM, communal lapa area and braai facilities. GOUDINI SPA Only an hour from Cape Town, in the heart of the Boland mountains, you’ll find ATKV Goudini with its hot water springs and myriad of fun activities. ATKV Goudini Spa’s range of self-catering accommodation, entertainment and recreational facilities will meet absolutely everyone’s needs. The resort is situated along the famous Route 62 – the most expansive and diverse wine route in the world. ATKV Goudini Spa boasts excellent conference facilities, which can accommodate up to 800 conference delegates. HARTENBOS ATKV Hartenbos is situated along the world famous Garden Route between Cape Town and Port Elizabeth. Add to that loads of activities and recreational facilities, a restaurant, fast-food section and convenience store and conference facilities that can accommodate up to 1 000 delegates. It also boasts a new lifestyle centre called Hartenbos Seafront. BUFFELSPOORT The ATKV Buffelspoort holiday resort is situated less than an hour from both Pretoria and Johannesburg and just a stone’s throw from the world-renowned Sun City. With a variety of selfcatering accommodation and recreational facilities and activities, a restaurant, a fast-food section and a well-equipped shop, ATKV Buffelspoort is the ideal base from where you can explore the wealth of tourist attractions in the area. DRAKENSVILLE Ideally located and easily accessible, ATKV Drakensville, with its breathtaking views, is surrounded by historical landmarks and offers access to numerous tourist attractions in the vicinity. The resort has a variety of accommodation, adventure activities and recreational facilities, plus a restaurant, fastfood outlet, coffee shop and gift shop. The ATKV Drakensville is perfect for a successful conference or a brilliant team-building programme. EILAND SPA On the southern banks of the Letaba River, east of Tzaneen in the province of Limpopo, lies ATKV Eiland Spa in the heart of the Hans Merensky nature reserve. With its year-round warm, sunny weather and diverse natural beauty, Eiland Spa is one of the most popular resorts in South Africa. With its variety of self-catering accommodation, recreational facilities and activities, restaurant and healing hydro-spa, ATKV Eiland Spa is the ideal place for corporate conferencing. Top500 9th Edition 95

ADVERTORIAL

CTICC

CTICC: THE EVOLUTION OF AN ICON

CTICC 2, the recently completed expansion project of the Cape Town International Convention Centre, is adding prestige and stature to an already iconic event venue. We take a look at this exciting new building.

WELCOME TO ADDED PANACHE CTICC 2 has been designed as a seamless extension of the original building, now called CTICC 1, to provide complementary space for large exhibitions or conferences. As such, the integration of the two buildings allows the centre to form an event venue complex that will affirm the City of Cape Town’s commitment to developing business tourism and driving the knowledge economy of the region. However, event organisers will be delighted to know that CTICC 2 is also able to operate as an entirely independent facility, ideal for keeping events focused and intimate. CTICC 2 welcomed its first delegates in September 2017 when the centre hosted the 21st Annual Congress of the South African Council of Shopping Centres (SACSC). A state-of-the-art fusion of African stone, steel and glass has opened, quite literally, onto the streets of the burgeoning Foreshore district: its dedicated coffee shop, Coffee on the Circle, is designed to spill out onto the pavement and scoop up passersby, enlivening the area. This most striking feature of CTICC 2, when standing in the luxurious reception foyer, is its impressive 28 m floor-to-ceiling height. Six exhibition halls span across two floors. The centre also boasts five meeting pod rooms, four meeting suites and a terrace room. Over the years, the Roof Terrace venue at CTICC 1 has become one of the CTICC’s most popular spaces, often used for breakfasts and cocktail functions, thanks to its open-air terrace. CTICC 2 adds a further terrace room to the CTICC stable. In addition, there is perhaps the most stylish venue of all – the 500 m2 Mountain View Terrace. CTICC 2 also has more exterior balconies than the original building. These are exciting new additions to the CTICC’s inventory. They invite the outdoors in and allow delegates to feel the pulse and rhythm of the city. Indeed, thanks to its multilevel structure, CTICC 2 offers fresh views of the city and harbour.

SUSTAINABILITY CREDENTIALS The centre is also making use of material that encourages the use and diffusion of natural light. A “saw tooth roof” offers the ability to deflect direct sunlight while admitting natural light deep into the building. Extensive glazing across the western façade bathes the centre’s public spaces and reception foyer with natural light (due to the specialised type of glass used, additional air-conditioning is, however, not required). These measures as well as electrical sub-metering, energy saving devices, waste management and water conservation processes, have earned the centre’s design a 4 green star-rating by the Green Building Council of South Africa.

GATHERING SUPPORT CTICC 2 has struck a chord with international associations and by September 2017, CTICC 2 had already secured 10 international congresses, booked all the way up until 2022. In fact, CTICC 2 already impressed with the hosting of its first national conference – the SACSC Annual Congress, which attracted 1 600 registered delegates. MamaMagic – the Baby Expo was the centre’s first consumer exhibition which took place at the end of October. In November, the 20th annual AfricaCom will be expanding into CTICC 2 for its tenth year at the centre. Then, the Global Food Security Conference in December 2017 will be completely hosted in CTICC 2. Come 2020, the World Ophthalmology Congress promises to attract 15 000 delegates and is the largest international conference the centre – and the city – have ever secured. Cape Town would not have been able to secure this bid if it was not for the CTICC’s expansion project. Winning these bids shows the potential of CTICC 2 and the vital role the CTICC plays in supporting the knowledge economy and African participation in global issues, while at the same time ensuring direct economic benefit to the citizens of the city and region. Over the past 14 years, the CTICC has made a significant contribution to Cape Town’s reputation as a global meetings and event destination. CTICC 2 represents an exciting evolution of this influence.

ADDRESS CTICC 1

ADDRESS CTICC 2

Convention Square, 1 Lower Long Street, Cape Town 8001, South Africa

Corner of Heerengracht & Rua Bartholomeu Dias, Foreshore, Cape Town 8001, South Africa

96 Top500 9th Edition

CONTACT CTICC

Telephone: +27 (0) 21 410 5000 • Fax: +27 (0) 21 410 5001 Email: info@cticc.co.za • Postal Address: P.O. Box 8120, Roggebaai, Cape Town, 8012, South Africa

THE CASTLE OF GOOD HOPE: TURNING HISTORY INTO OUR-STORY BY FIONA WAKELIN AND ELSKE JOUBERT

Constructed in the mid-17th century out of rock hewn from Signal

many things and so many people. We are all connected in some way,

Hill and slate gathered from Robben Island, the Castle of Good

and the Castle played a major role in that.

Hope is the oldest surviving colonial building in South Africa and one of the best preserved examples of Dutch East India

“We aim to bring people together and not only recognise

architecture. Originally perched on the coastline of Table Bay after

differences, but also commonalities and move forward from

land reclamation, the erstwhile fort is now a sprawling landmark on

there. That’s what we started doing in 2016 during our 350-year

the corner of Darling and Castle Streets on the way to Cape Town’s

commemoration and what we are continuing to do going forward.

bustling Foreshore. “How do we do that? A lot of people talk about deconolising history, We discovered the Cape Doctor certainly lives up to its name as

but in the words of our good friend Professor Denis Goldberg, we

we cross the moat and enter the Castle’s precincts to meet Doreen

do deconolisation of history. We give people a platform to have a

Hendricks, the Castle’s powerhouse Tourism & Marketing Manager.

voice, to tell their stories and to be recognised. We want them to

The interview becomes a fascinating journey about the possibilities

remember, heal and learn through this process; whether it be via an

of transformation and how the colonial past can be transformed into

exhibition, a debate, a community forum or a traditional ceremony.

a reimagining of our future. “The Castle of Good Hope is a self-sufficient public entity. We “The Castle was exclusive for many years, whether to a particular

generate income via our commercial tourism and event activities,

racial group or individuals on a particular career path. It was

which in turn help us fund community heritage initiatives. We rely

specifically designed and built to keep people out, but as a tourism

heavily on partnerships to do development work and appeal to

heritage site we want to invite people in. We can’t change the

corporate South Africa to support us in order for us to grow our

structure of the building, but we can change the perceptions of

heritage, culture and education department. The fact that our

people.

Department of Defence is looking after the maintenance of the Castle, is a huge bonus.

“Everything in the Cape started here at the Castle. Our slogan is, ‘The beginning of everything’. We also position ourselves as the centre for

“Recently we launched a 350-legacy project, focusing on the

shared heritage in South Africa. Here you have the culmination of so

passing of the history onto the youth of today. Even though the

98 Top500 9th Edition

CASTLE OF GOOD HOPE

INTERVIEW

350-commemoration was concluded in 2016, the story has actually just begun. We have created a timeline of the inclusive history of the Castle – from when it was first built up until 2016. The timeline, as seen above, includes untold stories of the past as well as the recognition of unsung heroes and warriors. These timelimes have been rolled out in 72 schools nationwide with the aim of getting them rolled out into 400 more throughout the country. We want our kids to feel included and become excited about their heritage. “We also know that the youth nowadays learn through technology, so we have developed an interactive website, virtual tour and video which would speak to them in a language that they understand. We are in the process of developing an app that they would be able to download onto their phones and tablets, which makes history available to them immediately and in a fun way. “We are positioning ourselves as an exciting, forward-thinking heritage site. People – whether they are locals or tourists – want an experience. They don’t want to stand at a glass window looking in; they’re looking for interaction – touching, feeling, talking, engaging. We are therefore working hard to ensure our product is interactive. “Over and above all the exhibitions, we also host a variety of events.... from flower shows to lifestyle markets, from music festivals to conferences and weddings. “We want to open our doors to not only tourists, but to locals, to Capetonians. People whose lives have links here – and who may not

List of offerings • In December we launched a centre for memory, learning and healing, a state-of-the-art conference facility, which can be booked by corporates, government departments and organisations. We also have numerous other venues that can be booked for meetings or banquets. • Daily cannon firings and a ceremonial guard ceremony. • A traditional Khoi hut and kraal. • Statues of four warrior kings/chief - King Cetswhayo, Nommoä, King Langalibalele and King Sekhukhune. • We have a gift shop, library, military museum, and a reconstructed William Fehr Collection. • Three local history museums, two of which is managed by our partner, Iziko Museums of South Africa. Future plans? The Castle has recently opened two new exciting food offerings, a halaal cafe and a fully licensed à la carte restaurant. We are constantly working on boosting our tourism offering to clients to ensure an exciting experience at the Castle.

even know it.”

Top500 9th Edition 99

DEVELOPMENTS IN

SUB-SAHARAN

AFRICA

BY ELSKE JOUBERT

Over the past decade sub-Saharan Africa has become one of the fastest-growing regions in the world, showing a significant uptake from the past 60 years when development was still very much varied and sporadic. Though the growth in the region is mainly due to primary exports such as unprocessed agricultural and forest products, minerals and fossil fuels, structural transformation still remains subdued. Foreign investment in the region is increasing, there’s a boom in innovation, despite challenges like poverty, poor infrastructure and climate change.

100 Top500 9th Edition

MATS GRANRYD, DIRECTOR GENERAL OF THE GSMA, STATES, “MOBILE MONEY IS NOW ACHIEVING MASSMARKET ADOPTION IN ALL CORNERS OF SUB-SAHARAN AFRICA – ENABLING MILLIONS OF PEOPLE TO ACCESS FINANCIAL SERVICES FOR THE FIRST TIME AND CONTRIBUTING TO ECONOMIC GROWTH AND SOCIAL DEVELOPMENT.”

DEVELOPMENTS IN SUB-SAHARAN AFRICA

EDITORIAL

THE EVOLUTION OF MOBILE MONEY The use of mobile money has evolved in recent years. From person-to-person payments and topping up airtime, to paying bills and sending money abroad. Known as ‘ecosystem payments’, they account for approximately 17% of all mobile money transactions, and have quadrupled between 2014 and 2016. At the end of 2016, across sub-Saharan Africa, there were 277 million registered mobile money accounts. Historically, the majority of mobile money users have been situated in East Africa, in countries like Kenya, Uganda and Tanzania, but according to recent data, West Africa is becoming a key driver of user growth. Today,

approximately

29%

active

mobile money accounts in sub-Saharan Africa are based in West Africa, compared to 8% five years ago. According to the GSMA, sub-Saharan Africa will have 500 million mobile subscribers by 2020, and with more than

BIG ON MOBILE

half of mobile money services in the world situated in the region, it remains one of the fastest-growing mobile markets in the

According to new data gathered from a study conducted

world.

by the GSMA – a trade body that represents the interests of mobile operators worldwide – sub-Saharan Africa

The GSMA’s The Mobile Economy: Sub-

accounts for more than 50% of the 227 mobile money

Saharan Africa 2017 report states, “Mobile

deployments globally, with the number of live mobile

is a vital tool in delivering digital and

money schemes reaching approximately 140 across 39

financial inclusion in sub-Saharan Africa.”

countries.

RWANDA RANKS HIGH

Since the launch of M-Pesa in Kenya in 2007, the growth in mobile money services has grown steadily for 10 years, and according to the same study by the GSMA, more than 40% of adults in seven sub-Saharan markets are active mobile money users. These markets are: Zimbabwe, Uganda, Namibia, Tanzania, Kenya, Ghana and Gabon.

UNIQUE MOBILE SUBSCRIBERS 2016 2020

SIM CONNECTIONS

420 million

6,2% CAGR 2016-20

535 million 43%

penetration rate

50%

2016

731 million

2020

942 million

74%

6,6% CAGR 2016-20

penetration rate

Top500 9th Edition 101

85%

SUB-SUBSAHARAN AFRICA SUSTAINABLE DEVELOPMENT INDEX

“Efforts to bridge the innovation divide have to start with helping emerging economies understand their innovation strengths and weaknesses and create appropriate policies and metrics,” said

The UN’s Sustainable Development Goals (SDGs) are composed of

Soumitra Dutta, Dean at Cornell SC Johnson College of Business,

17 goals and 169 targets to wipe out poverty, fight inequality and

Cornell University.

tackle climate change by 2030. According to the SDG Index and Dashboard report, Rwanda has

GAMBIA SET TO BECOME FIRST SUB-SAHARAN COUNTRY TO ERADICATE MALARIA

been ranked among the top 10 countries in sub-Saharan Africa that According to the World Health Organization (WHO), Gambia carries

are well en route to attaining the SDGs by 2030.

a disproportionately high share of the global malaria burden. Studies show that the region was home to 90% of malaria cases and 92% of

RWANDA IS FIRST IN EAST AFRICA

malaria deaths in 2015.

SEVENTH

AND

The country is reaching the last mile in its attempt to eradicate

in sub-Saharan Africa

malaria – becoming the first sub-Saharan Africa country to do so.

117 TH

In Gambia, the prevalence of this deadly disease in children aged five

globally, according to the survey that assesses the capacity of

157

economies across the world.

years and younger has shown a significant drop – down from 4% in 2011 to 0.02% in 2017, according to health experts from the National Following

Rwanda

sub-Saharan

Malaria Control Programme (NMCP).

Africa is Gabon in 85th place; Mauritius in 103rd place and South Africa takes

There has also been an overall significant drop in the number of

the third position in the region at

new cases recorded in the country; this translates to a decrease of

number 108 globally.

approximately 40%, with 155 450 new cases reported in 2016.

KENYA THIRD MOST INNOVATIVE COUNTRY IN SUB-SAHARAN AFRICA

Technology has successfully been used to tackle malaria – in addition to traditional control methods like anti-malaria drugs, indoor spraying and insecticide-treated mosquito nets. Today, health experts are

Kenya ranks third in sub-Saharan Africa in the UN’s Global Innovation

using GPS and online platforms to gather real-time data – monitoring

Index 2017, after South Africa and Mauritius, and is number 80

prevention services and finding effective combative solutions.

globally. The index surveys 130 economies and looks at various metrics –

M&A INVOLVING SUB-SAHARAN AFRICA HIGHEST LEVEL IN FOUR YEARS

ranging from education spending to patent filings – providing an in-depth look at innovation that drives economic and social growth.

The value of announced mergers and acquisitions (M&A) transactions in sub-Saharan Africa are at the highest first-half level in four years –

According to the survey, “Since 2012, sub-Saharan Africa has counted

reaching $18.1-billion in the first half of 2017.

more ‘innovation achiever’ countries than any other region. Kenya, Rwanda, Mozambique, Uganda, Malawi, Madagascar and Senegal

According to Thomson Reuters’ quarterly investment banking

stand out for being innovation achievers this year, and several times

analysis, inbound M&A activity in sub-Saharan Africa during the first

in the previous years.”

six months of 2017 amounted to $10-billion, with the US, UK and China leading investments.

Switzerland takes the lead globally for the seventh consecutive year, followed by Sweden, the Netherlands, the USA and the UK.

102 Top500 9th Edition

DEVELOPMENTS IN SUB-SAHARAN AFRICA

EDITORIAL

The satellite will be used to monitor Ghana’s coastline for mapping purposes and to build capacity in space science and technology. According to Richard Damoah, Director of the Space Systems Technology Laboratory at the All Nations University, the launch of the GhanaSat-1 marked a new beginning for the country. “It has opened the door for us to do a lot of activities from space.” Damoah also said that this will help the university train the upcoming generation on how to apply satellites in different activities around the region: “For instance, [monitoring] illegal mining is one of the things we are looking to accomplish.”

SOME SPECIFICATIONS OF THE GHANASAT-1

“IT HAS OPENED THE DOOR FOR US TO DO A LOT OF ACTIVITIES FROM SPACE” During

the

review,

totalled $71.4-million, a 1% increase year-

domestic and inter sub-Saharan African

on-year, while equity capital markets’

M&A totalled $3.7-billion, up 38% year-

underwriting fees rose 32% to a ten-year

on-year.

high of $71-million.”

Thomson

half-year

Reuters

under

Africa

Managing

Director, Sneha Shah, says, “South Africa’s overseas acquisitions accounted for 71.9% of sub-Saharan African outbound M&A

GHANA BECOMES FIRST COUNTRY IN SUB-SAHARAN AFRICA TO SEND A SATELLITE INTO SPACE

activity, while acquisitions by companies headquartered in Mauritius and Seychelles

Sixty years after the country’s independence

accounted

from Britain, Ghana launched its first

for

17.8%

and

10.3%

respectively.”

satellite – the GhanaSat-1 – into orbit from the International Space Centre on 4 July

According to the report, the investment banking

fees

sub-Saharan

2017, at an altitude of 420 km.

Africa

• I t has low and high resolution cameras on board and is expected to orbit 420 km above the earth. • I t will be used to monitor Ghana’s coastline for mapping purposes and to collect data in this respect. • T he launch was made possible with Japanese collaboration. It was a two-year project that cost $50 000 in collaboration with the Japan Aerospace Exploration Agency (JAXA). • I t has a weight of 1 kg and was one of five micro-satellites launched. Sources

increased by 12% during the first six

GhanaSat-1, a two-year project costing $50

https://www.forbes.com

months of 2017, reaching $244.7-million.

000, was developed by students at the All

http://www.myjoy.com

“Fees from completed M&A transactions

Nations University College in Koforidua.

http://news.xinhuanet.com http://www.capitalfm.co.ke Top500 9th Edition 103

GHM_Top-500.indd 2-3

2017/10/25 2:40 PM

business process outsourcing

BY ELSKE JOUBERT

South Africa is strategically positioned at the tip of Africa and is regarded as one of the economic powerhouses of the continent. Comparing favourably to other emerging markets, the country has world-class infrastructure and a labour force comprising affordable semi-skilled and unskilled workers. The local offshore business process outsourcing (BPO) market has, according to the Department of Trade and Industry (dti), seen a compounded average growth of 25% year-on-year, with more than 30 000 offshore jobs. Leading buyers of South African BPO services: • United Kingdom • Australia • United States

AUSTRALIAN OFFSHORE BPO CAMPAIGN LAUNCHED Business process outsourcing company, Merchants, partnered with iSelect – an Australian insurance, utilities and personal finance comparison website – and will manage its contact centre in South Africa. Said Minister of Trade and Industry, Rob Davies, “Merchants, which has multiple locations in Cape Town, Johannesburg, Durban and Pretoria, has been one of the pioneers in developing and supporting South Africa’s business process offshoring value proposition over the last 14 years.”

106 Top500 9th Edition

BUSINESS PROCESS OUTSOURCING

The Minister added that the partnership between iSelect and Merchants is indicative of the working partnership with government and that strategic objectives of the BPO sector are met in relation to foreign direct investment, job creation among the youth, export revenue generation and the implementation of career pathing.

JOB CREATION Industry body, Business Process Enabling South Africa (BPESA) aims to increase jobs in the BPO sector from the current 30 800 to 80 000 by 2021. According to BPESA’s head of marketing and communications, Melissa Wippenaar, this goal will be reached by: •B uilding on the strength of voice processing • Developing skills in non-voice processing functions – in particular legal process

SECTOR OVERVIEW

GEOGRAPHIC PROFILE OF THE SA BPO INDUSTRY GAUTENG

EMPLOYED: 22 110

KEY VERTICAL SECTORS: Financial services; telecoms OFFSHORE (FTES): 25%

WESTERN CAPE EMPLOYED: 6 334

KEY VERTICAL SECTORS: Telecoms, retail, financial services OFFSHORE (FTES): 48%

KWAZULU-NATAL EMPLOYED: 3 600

KEY VERTICAL SECTORS: Financial services, insurance, government, IT and telecoms OFFSHORE (FTES): <10%

outsourcing and knowledge process outsourcing

EASTERN CAPE EMPLOYED: 330

KEY VERTICAL SECTORS: Operations: 10+ (2005) OFFSHORE (FTES): <5%

SOURCES https://www.brandsouthafrica.com http://www.bpesa.org.za/ Frost & Sullivan

Top500 9th Edition 107

THE F.A.C.T OF THE MATTER! CEO and founder Nargis Gani’s journey to transformation and empowerment When CEO Nargis Gani founded Future Africa

Consulting and Training (FACT) in 2002, it had

only two employees and one client. Now, more

than a decade later, the company has in excess

of 250 employees and more than 30 clients, including a reputation for being a mechanism for empowerment and transformation in South

Africa and beyond. We chat to the passionate entrepreneur about the company’s steady climb up the success ladder.

FACT SA has shown some incredible growth. What do you put the company’s success down to? NG: Our goal has always been to create a business

that simplifies the daily tasks for clients and companies alike. We take pride in listening to our clients’ needs and creating customised solutions. Our hands-on approach for each project enables us to deliver consistent quality time and time again.

survive. At FACT, we look at how we could add high value task-based services to this

What are some of the challenges with South Africa’s business process outsourcing sector?

Foreign investors’ confidence is low at the moment. What do you think needs to happen to restore confidence in South Africa?

was always seen as the outsourcing of basic services

The problem, however, is that these opportunities are not well presented. It’s the

NG: Traditionally, business process outsourcing (BPO) like call centres, back-office administration, security and cleaning services. But I believe it’s such a limited view. Mainstream business may be able to exist, but without economies of scale, it becomes difficult to

108 Top500 9th Edition

landscape and ultimately, opening the door for others to follow.

NG: Investment opportunities are not scarce in South Africa. We know this to be true. responsibility of leading companies collaborating with government to create a platform to showcase the benefits of investing in a world-class country like South Africa. Honestly, I believe we should first look internally. The question should actually be how do we get more local entrepreneurs into the marketplace? True enterprise development should be the focus of big business and government.

FUTURE AFRICA CONSULTING & TRAINING

INTERVIEW

What’s key to your company’s resilience?

people, 33% are under the age of 30, which contributes to our youth

We tend to foster positive emotions more than negative ones by

10% of our staff complement participate in internships, and

NG: Resilience forms a big part of the company’s philosophy. focusing on the issues than can be changed. With the issues that are not in our control, we accept them and move on. Over the past 15 years, we have encountered some rough patches, but instead of consolidating, we pushed forward to grow ourselves out of these situations. We have built a strong team who are able to think on their feet and come up with alternative solutions and ideas. This is key to maintaining flexibility and being resilient.

development transformation policy. In terms of skills development, apprenticeship programmes. The percentage of black employees at FACT currently stands at 84% and more than 25% are black women. For three years running, we’ve been awarded ‘Transformation Leaders in Africa’ in our sector.

How do you utilise technology in your operations and how has it helped streamline your business?

NG: We’ve always been early adopters of systems and technology.

How do we ensure the proliferation of more public and private partnerships in South Africa?

We run our operations with best-in-class applications and cloud-

themselves within the public sector supply chain is cumbersome

ability to deliver a better service to our clients.

NG: Unfortunately, the process for entrepreneurs to establish

and riddled with red tape. This is just one aspect of the 14-point plan by government to address in the Private Sector Participation (PSP) framework. But the proof of the pudding is in the eating, so I

based solutions throughout the organisation. This gives us a huge advantage over our competitors but more importantly, it gives us the

Future plans in the pipeline for FACT SA?

NG: There’s a lot in the pipeline at the moment. By November

guess we’ll just have to wait and see how it will be implemented.

2017, our ISO 9001:2015 accreditation will be complete. We’re also

Can you provide details on some of the specific programmes in place across the business as per the revised B-BBEE codes, aimed at boosting transformation?

vehicles, which will create an additional 16 direct jobs and another

NG: FACT is in itself a mechanism for empowerment and

finalising a massive investment into network test equipment and 30 indirect employment opportunities. Additionally, we’re expanding our service portfolio to include Network Planning and Optimisation. We’re putting the finishing touches to our new operations based out of Mauritius that will service our African cliental.

transformation. Our numbers speak for themselves. Of our 250

Top500 9th Edition 109

INTERVIEW

FUTURE AFRICA CONSULTING & TRAINING

FAC Pro in 2 Pro Tel mo col Ser dev

Thr to ma of

As a successful female leader in a maledominated industry, what advice can you offer other aspiring women leaders in South Africa?

service delivery and a higher level of education at primary and secondary level.

and transform the norm of the industry. To create an

to Lead by Sheryl Sandberg.

NG: Our vision is crystal clear. We want to empower

ecosystem where women, especially black females, have the necessary tools and training required in order to thrive in the Telco space. Two words of advice: ‘Persevere’ and ‘Network’.

QUICK-FIRE Q&A WITH NARGIS GANI

Biggest wish for SA? A stronger economy, reduced unemployment, better Books you’re currently reading?

Lean In: Women, Work and the Will

Hobbies/pastimes? Spending time with friends and family in nature. I’m also currently learning an additional language (Arabic).

Who or what inspires you?

Nelson Mandela is a big inspiration for me. He represents so much that is good in this world. And of course, my Creator. Without His divine guidance, none of this would be possible.

Contact details Tel: 012 665 1771

Email: admin@factsa.co.za Website: www.factsa.co.za

110 Top500 9th Edition

WHO ARE WE? FACT is a South African Head quartered Professional Services Company established in 2002 with specialist focuses on Business Process Outsourcing in the Engineering; Telecommunications and IT industries. With more than a decade behind us, and a collective management experience of more than 50 years, we can condently deliver in the areas of Managed Services & Maintenance; Project Management; Managed Resources; Organisational and Resource development. Through our innovative and exible solutions we have consistently evolved our capability and service offering to meet with client and industry demand. FACT carries a staff component in excess of 250 members of which majority service the ICT industry and delivers projects within Africa & Middle East. FACT also utilises the services of a range of competent consultants to meet the needs of our clients

WHAT WE DO Field Service Management within the ICT & Engineering Sectors. Project Management in the Design, Install & Commissioning of Communication Networks

Thoughtful Leadership With over 10 years experience helping businesses to nd comprehensive solutions

helping companies

navigate change.

Supply of Professional Staff both temporary and Permanent Organisational Development; Change Management, Training, Mentoring & Coaching

“

Talented Consultants

We look forward to getting to know you and to helping you take you company to new heights.

FACT is a privately own company with 100% Black Female ownership and has received a BBBEE scorecard rating of AAA+ 135% as a level 1 contributor and value adding enterprise.

WHAT WE STAND FOR! We strive to be your best and most valued business partner We commit to offering all-inclusive simplied solutions We dedicate ourselves to understanding and aligning our processes with the needs of our customers We promise quality and consistent service delivery through the implementation of ISO 9001:2015 Standard Our focus is in cultivating the full potential of our clients and their organisations We operate on the principles of honesty, integrity and excellence We are committing to the attraction and retention of exceptional human talent

“

A WINDOW INTO THE DIGITALISED WORKPLACE RICOH SA COO, JACQUES VAN WYK PROVIDES A GLIMPSE INTO THE ‘OFFICE OF THE FUTURE’ FOR MORE THAN 80 YEARS, RICOH SA HAS BEEN EMPOWERING WORKPLACES USING INNOVATIVE TECHNOLOGIES AND SERVICES, ENABLING INDIVIDUALS TO WORK SMARTER, NOT HARDER. AS A COMPANY AT THE FOREFRONT OF DRIVING INNOVATION, CHIEF OPERATING OFFICER, JACQUES VAN WYK GIVES US A TASTE OF HOW RICOH SA ENVISIONS THE FUTURE WORKPLACE. Q: What does the office of the future look like?

JvW: I think to understand what the future might look like, we need to take a step back and put it into context. Ten years ago, we started with analogue copiers and separate print devices. During the 90s those two devices came together and I remember launching the first digital, multi-functional devices. I believe the buzz phrase back then was: ‘scan once, print many…’ We’ve come a long way since then. The device itself is what we now call the technology enabler. It has allowed us to interact with our entire business workflow that’s now digitised. We can interact with all different systems within our organisation, communicate, collaborate and transact with customers and suppliers

112 Top500 9th Edition

RICOH

INTERVIEW

collaborate with our teams down in Cape Town, virtually sitting in on the same meetings. That’s the bridge when we talk about the digital office or connected workplace. The process is instantaneous.

Q: You mentioned creating interaction between customers and products. How can customers engage future solutions? JvW: Through our new demonstration facility in Linbro Business Park

in Johannesburg, we’re able to showcase the deep interconnectivity between our solutions to meet the evolved needs of a rapidly digitalising world. This state-of-the-art facility is home to our nextgeneration digitalised office automation, workflow and process services, communication services and a commercial and industrial print solution that create the launch point for enterprise digitalisation programmes. These solutions go beyond the simple, straightforward digitally. That’s where we are currently. Around that device, we’ve placed a range of software solutions to ensure our device forms the primary role of digitisation. Over the past five years different technology has come into the market. We’re looking at interactive whiteboards, unified communication systems and we give those in the digital environment the ability to interact with these products.

Q: There’s also been a particular emphasis on mobility. Can you elaborate?

JvW: The future of digital workspace will be driven and focused around mobility. We call it the ‘new way of work’ – it allows our people to utilise technology and work remotely. Ricoh is at the heart of everything we do, and what we’d like to do is influence every part of our customers’ and employees’ lives, not only to empower them in the business environment but also to empower them from a personal point of view. Our customers and staff now find that they have more free time because we’ve helped them make their business life more productive and collaborative.

Q: How can digital innovation be used to our (and your) benefit? JvW: It allows us to collaborate more effectively. At Ricoh SA, we

take pride in utilising the products that we provide to our clients. Through interactive whiteboard and integrated systems, we’re able to

devices of the past. Customers are transforming from traditional, paper-based, and manual businesses to automated and productive digitally efficient operations that are geared to quickly take charge during the dynamic uncertainties that characterise our current operating environments in South Africa and globally.

Q: Is South Africa ready for the next digital revolution?

JvW: Time and time again, we see that keen levels of interaction opens customers’ imaginations to the broad possibilities of the innovative digitalised solutions in their own organisation. They may initially be interested in a simple, high-lumen projector but see the strategic benefits of interactive, short-throw projectors and smart boards for dispersed or mobile project teams and their own customers. Or the glimpse into paperless offices and digitalised, efficient workflows that feed accurate, reliable data to decision-making business processes that lead strategic activities and really highlights their way forward. Customers are routinely motivated by the realisation that digitalisation, in any organisation, must deliver immediate return on investment and offer operational benefits directly related to customer satisfaction and service delivery. Those benefits stem immediately from digitising previously paper-intensive processes. Office imaging devices are the bridge between the analogue world of paper and the digitalised world of electronic workflows and processes.

WWW.RICOH.CO.ZA

Top500 9th Edition 113

Enter the digital workplace with Ricoh and achieve that work-life balance everyone keeps talking about.

Download the CP Clicker App from iTunes or Google PlayTM Store

Point your device at the Clickable Paper-enabled material

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011 732 5000 | 0800 100 040 sales@ricoh.co.za ricoh.co.za | imaginechange.co.za

Enjoy your rich media content

MOOVERS AND SHAKERS The LA Group of Companies has since its inception become a leader in the events management industry. The company comprises of Lounge Around, MOOVE Exhibition & Event Supplies, LA Weddings and 3D Deco – and is positioned in the top 2 companies in South Africa, within its sector. The LA Group of Companies specialises in boutique furniture rental and supplying customised furniture and decor for a diverse range of events. As Level 1 and Level 2 B-BBEE contributors, the company is dedicated to growing the businesses in line with South Africa’s employment equity goals. They currently employ 105 people across various departments.

LOUNGE AROUND Acquired in 2013, Lounge Around is a premium furniture hire company that has grown into a reputable, profitable and dynamic brand that services many prestigious events, including the presidential inauguration in 2014. The company’s success can be attributed to their vision of creating the definitive lounge experience, focusing on exceptional quality, service excellence and innovation. In keeping with this vision, they design pieces that are aesthetically appealing and physically comfortable.

LA WEDDINGS LA Weddings specialises in all things weddings, including executive wedding planning, co-ordination and styling. The company ensures that each event is individually designed according to the client’s specifications, with a focus on creative flair and meticulous attention to detail.

3D DECO A fairly recent addition to the LA Group of Companies, 3D Deco specialises in event-exhibition stretch decor and draping. This successful business has been in operation for over 16 years.

DIDI WALENG-FRIEDMAN CEO of the LA Group, Didi Waleng-Friedman is a passionate, motivated entrepreneur. A true inspiration to all those that work with her, Didi strives to empower women wherever possible. A seasoned entrepreneur having been in business since the age of 23, Didi is a prime example of the fact that perseverance, resilience and hard work do make that dream come true. Didi is on a personal mission to instill entrepreneurship in the youth of South Africa. “We create magic” is clearly evident throughout the LA Group as well as in her daily life.

JOEY FRIEDMAN MD of the LA Group, Joey Friedman at the age of 26 is a motivated, driven and forward thinking young man. He has introduced all that is essential for the LA Group’s success. As MD, Joey’s tenacity and ambition will enable him to continue the growth of the different brands. He is hands on at an operational level and makes every effort to empower his team in order to improve their position within the company. “Promote from within” has proven to be successful and has transformed many employees’ lives.

Although we are proud to be SA’s original printer company, as business needs have evolved, so have we. That’s why today Nashua oﬀers a complete range of solutions that make sense for every aspect of your business. We call it Nashua Logic and it’s how we’re continuing to save our customers time, save them money and put them ﬁrst. Contact us today for more information. solutions@nashua.co.za www.nashua.co.za

CLAREMART

PROFILE

INDUSTRY LEADERS FOR MORE THAN 40 YEARS Established in 1976, ClareMart Auction Group has, for 40 years, been recognised as the leading and trusted name with private sellers, government departments, large corporations and the legal fraternity. Navigating one’s way through the commercial and residential property market can be daunting. ClareMart has a philosophy of finding the right buyer, for the right seller and has carved a reputation for achieving results where traditional real estate channels have failed. The Group has an active database of 10 000 buyers in the private sector, as well as a Legal and Financial Services division. ClareMart also offers a suite of services, including the marketing and selling of properties, both movable and immovable, and a Valuation division. In the early 2000s, ClareMart revolutionised the auction floor by spearheading the Multiple Commercial Auction model, whereby a selection of commercial, industrial and residential properties are offered to the public in a single sitting.

Jonathan Smiedt ClareMart Auction Group CEO Company Information

CEO: Jonathan Smiedt General Executive Director: Andrew Koch Executive Auctions Director: MC du Toit Non-Executive Directors: Marcel Golding Catherine Lloyd Luntu Sebatane

ClareMart’s auctioneers collectively have over 80 years’ industry experience and have directly and indirectly facilitated the sale of some of Southern Africa’s most high-end properties and movable assets – including hotels, farms, corporate closures, motor vehicles, aircraft, marine auctions, and residential and commercial estates. The Group annually hosts over 1 000 auctions nationally.

Contact Details

ClareMart serves on the preferred panels of all major banks and liquidation firms nationwide, and today they proudly control the major market share in this sector. The success they have achieved in this market has resulted in more private sellers choosing the auction floor over traditional real estate channels – a trend which seems set to continue on an upward trajectory.

Telephone: +27 21 425 8822

Head Office: Claremart House 49 Somerset Road, Green Point, 8001 Postal address: P.O. Box 1112, Green Point, 8051 Fax: + 27 21 425 9212 Email: info@claremart.co.za Website: www.claremart.co.za Offices also in Johannesburg

The administrative team behind the scenes is drawn from a pool of highly competent, qualified specialists that support the auctioneers and sales executives, to ensure that the Group collectively renders a top-of-the-line service to its clients, nationwide. The company is firmly invested in CSI initiatives and has supported the Red Cross War Memorial Children’s Hospital, NSRI, Rotary of the Western Cape, CANSA, Peninsula School Feeding Association and Horses for Causes. ClareMart is proud of its long-standing association with Top 500 and humbled by the prestigious accolade of the Number One South African Company in the Auction Sector – an achievement the Group has consistently attained. A Level 2 B-BBEE contributor, ClareMart is committed to playing its part in the economic transformation of our country. Follow us:

CLAREMART

CLAREMART AUCTION GROUP

Top500 9th Edition 117

BY ANTON PRETORIUS

take it from the bank

Despite being concentrated, South Africa’s banking sector remains a well-developed and proactively regulated banking system, which compares favourably with those of industrialised countries.

OVERVIEW

The South African banking sector has attracted a great deal of interest from abroad with a number of foreign banks establishing offices in the country and others acquiring stakes in major South African banks. According to the 2015/2016 World Economic Forum Global Competitiveness Survey, South Africa is ranked 8th out of 140 countries in Financial Sector Development. The media often depicts South Africa as having low levels of financial inclusion. This notion is misleading. The latest data from the World Bank shows that 26 million South African adults had a bank account in 2014; and although there is still room for improvement, the numbers had grown by 8 million over a period of 3 years. Private sector banks have thus brought nearly 3 million adults into the formal banking fold every year between 2011 and 2014.

ROBUST APPROACH TO TRANSFORMATION IN BANKING

The banking industry has decided to take a far more “robust” approach to transformation of the sector, says The Banking Association South Africa Managing Director, Cas Coovadia. Banks would be proactively seeking to achieve equity representation at senior and executive management, as well as to ensure that they procure from small and medium enterprises‚ Coovadia said in an address to the Cape Town Press Club in August 2017. Equity also needed to be achieved in the procurement of professional services such as legal‚ conveyance and auditing. The sector

118 Top500 9th Edition

FINANCE

SECTOR OVERVIEW

also wants to broaden financial inclusion and

its chances: it already forms part of the National

increase the number of transactions conducted

Payment System; its countrywide branch network is

on bank accounts.

in place; and it reportedly has 5.7 million deposit-

FINANCIAL SECTOR REGULATION ACT

making clients, net equity of R2.7-billion and capital of R1.4-billion in excess of capital-adequacy

Earlier this year, Parliament passed an important

requirements. Moreover, it is no longer a division of

piece of financial legislation. Although the

the South African Post Office.

Financial Sector Regulation Act will not immediately affect the consumer, it’s been designed to provide more comprehensive

NEW TYME BANK SET TO LAUNCH SOON Billionaire Patrice Motsepe made headlines after

protection when dealing with financial services

he announced that he was set to challenge South

providers and using their products. The Act

Africa’s biggest banks, with investment company

heralds the commencement of a complete

African Rainbow Capital (ARC) close to securing

regulatory overhaul of the South African

a banking licence. Tyme was granted a provisional

financial services sector.

licence by the South African Reserve Bank in 2016,

WORLD’S FIRST BORDERLESS CREDIT MODEL RAISES R3.19-BILLION

with Johan van der Merwe, co-CEO of African Rainbow Capital stating that the company expected a full licence in the last quarter of 2017. “The South

Cameron Stevens, founder and CEO of Prodigy

African banking environment is due for a bit of

Finance, created an international fintech

disruption,” said Van der Merwe.

platform that has developed the world’s first borderless credit model and raised R3.19-billion

($242-million).

This

includes

a R532-million Series C equity round led by venture capital firm Index Ventures and a R2.66-billion debt facility led by a global investment bank. The company, which has 126 staff across offices in London, Cape Town and New York, offers loans to postgraduate students accepted into business, engineering,

SA BANKING’S ‘BIG FIVE’ ACCORDING TO LATEST RETAIL CUSTOMER NUMBERS

law and public policy degrees at the world’s top universities, such as Harvard, Oxford, INSEAD and the University of Cape Town. Since it was established in 2007, the company has provided more than 7 100 students with over R4.32-billion in funding.

POSTBANK HAS INSIDE TRACK FOR

1. Standard Bank 2. Capitec

3. ABSA Bank 4. FNB

5. Nedbank

BANKING LICENCE

The South African Reserve Bank recently granted provisional licences to three banks, in line with the government’s desire to further broaden access to financial services for households and small businesses. One of these was the Postbank, which still has to pass the regulator’s final tests. Several factors favour

SOURCES www.treasury.gov.za www.statssa.gov.za www.timeslive.co.za www.banking.org.za www.resbank.co.za www.businesstech.co.za

Top500 9th Edition 119

AN INTERVIEW WITH REAGON GRAIG

TO WHAT DO YOU ATTRIBUTE YOUR COMPANY’S TOP 500 RANKING THIS YEAR?

very impactful and we need to fully appreciate how this influences our

and top ranking largely because of our responsible investment leadership

communicating effectively and how do we connect in a meaningful way

In my view, Old Mutual Investment Group is receiving such recognition position in the industry. As an asset manager we have a dedicated focus on being a responsible investor; our commitment is evidenced across the business. We have a well-resourced Responsible Investment unit, which was specifically established to guide our entire business to ensure that all relevant environmental, social and governance (ESG) factors are considered and integrated into our investment philosophies and processes. For us it’s about the responsible allocation of capital for the long-term. From renewable energy and infrastructure to affordable housing, agriculture and indexation products, investing in sustainable projects and investing with purpose for the long-term is intrinsic to who we are. This trait, this intent on doing good whenever possible, is one of

specific environment and business. Technology drives the way clients interact with the market. So how do we as a business ensure that we are with clients? This is an ongoing challenge for us. The third challenge is about how we embrace and leverage technology when developing our products and solutions. As an ideas business, our strength going forward will be about how we utilise technology to improve the quality of our ideas and ultimately aid innovative portfolio construction and solutions that truly meet our clients’ needs.

WHAT IS YOUR POSITION ON DOING BUSINESS IN AFRICA?

In my opinion business in Africa holds two tracts of opportunity. The first

the things that attracted me to this company in the first place.

is characterised by the primary needs of our continent – this comprises

WHAT DO YOU SEE AS THE 3 KEY CHALLENGES FOR SA BUSINESS IN THE NEXT THREE YEARS?

manager we need to allocate capital to these key areas to ensure we can

using the expert knowledge of our local environment. As an African

this and across our investment boutiques we have collectively committed

Our first challenge involves our readiness to compete on a global scale

asset manager, we need to compete with a global mindset, with the understanding that there’s an increasing number of global managers looking at our market for growth opportunities. We need to ensure that we retain a competitive advantage within that context. Secondly, technology is a driving force for change, and it’s no different in our industry. The advance of technology and social media has been

120 Top500 9th Edition

elements such as infrastructure, housing, and agriculture. As an asset meet our growth objectives and also enable prosperity for Africa. There are numerous commercially viable investment opportunities related to about R122-billion in Africa’s green economy. Our commitment to directing investments on behalf of our clients to this “green economy” is clear. The other avenue for doing business in Africa involves the possibilities presented by technological advancements and innovation. The US has been widely lauded as the leader of the knowledge economy, however Africa is also fertile ground for these opportunities. As Africa

OLD MUTUAL INVESTMENT GROUP

INTERVIEW

transitions from the margins to the mainstream of the global economy, technology is playing a significant role. IT is increasingly being employed to solve long-standing African socioeconomic issues. For example, the surge in mobile telecommunications is an example of how, due to a lack of infrastructure for landlines, the continent opted for mobile. And now, this power of telephony is forging a new enterprise culture, from innovations in banking to agriculture and education.

WHAT DOES ETHICAL BUSINESS MEAN TO YOU, AND HOW HAVE YOU REALISED THAT? For me doing business ethically is about causing no harm. More than that, it’s about doing

the right thing when nobody is looking and without an expectation of praise or credit. Ethical business deals with a myriad of factors, such as purpose and the contribution we have made to society, what values guide our behaviour, and how we impact our stakeholders – which includes our employees, our clients and the communities in which we operate. As to how we realise this, doing the right thing is at the heart of Old Mutual’s approach to business. We maintain high ethical standards in carrying out our business activities. Earning and retaining trust and confidence inside and outside our business is vital, so we use our core values and code of conduct as an organisation to guide and direct all our decisions and every action that affects our stakeholders.

IS THE DRIVE FOR SUSTAINABILITY CHANGING THE WAY YOU DO BUSINESS? HOW?

Reagon Graig general information Company / Organisation: Old Mutual Investment Group Name Reagon Graig

Title: Head of Institutional Distribution University: University of Cape Town Qualification: BBus.Sc

Yes and no.

I say yes because as a business, Old Mutual Investment Group has been continuously integrating ESG considerations across all its investment processes, scaling up asset stewardship practices and driving investment innovation in low carbon, resource-efficient and inclusive economic growth. The answer is also no because, as an early adopter of responsible investment, the drive for sustainability has long been inherent in how we do business. This is not a new trend for us. To us the drive for sustainability is a business imperative, and we understand it as a competitive advantage for the long-term.

WHAT LED TO YOUR CURRENT CAREER PATH?

I’m a naturally competitive individual. I’m also someone who is drawn to a variety of areas rather than a single focus in life. I was initially trained in a very technical field and I felt quite limited in that space. I recognised very early on my need to interact with different people and environments. Fortunately I identified investments and asset management as an area of work that both challenges me and allows me to engage with diverse groups of people, from portfolio managers – some of the sharpest minds I’ve ever come across – to an assortment of clients and stakeholders.

Top500 9th Edition 121

INTERVIEW OLD MUTUAL INVESTMENT GROUP

IF YOU HAD TO START YOUR WORKING LIFE OVER AGAIN, WHAT ADVICE WOULD YOU GIVE YOURSELF IN HINDSIGHT?

open a new chapter for our business as a standalone public company,

the knowledge that you gain through this journey. Yes, I would advise

Chairman and former Finance Minister, Trevor Manuel, and our CEO,

I would tell myself not to rush; to savour the experiences and appreciate

and solidify our aim to be the leading financial services business in Africa, led by Africans. At the helm of this new era for our organisation is a very strategic and forward thinking leadership. At a broader OMEM level our

myself to live in the moment – BUT with respect for the future.

Peter Moyo, are charting our course into a positive future. Crucially, part

WHAT CHANGE IS IN STORE FOR THE COMPANY?

led by Dave Macready and Khaya Gobodo, to become the preferred

of this envisioned positive future is for the Investment and Wealth cluster,

Old Mutual Investment Group, as part of Old Mutual, is currently going through what we’ve termed our managed separation process; this means Old Mutual Emerging Markets (OMEM) will essentially be the basis of a new JSE-listed company, and will retain the trusted Old Mutual brand. This milestone brings opportunity and excitement for all of us. It will

wealth and investment manager on the African continent.

CONTACT DETAILS

Tel: +27 21 509 5022 Fax: +27 21 509 4663 Website: www.oldmutualinvest.com

INVESTING TODAY, FOR TOMORROW. As an asset manager committed to investing responsibly, we believe in doing good while delivering good returns. We have our clients’ capital at work in a number of sustainable investments, including affordable housing, renewable energy, infrastructure and education, to ensure a better future. This is just some of the impact our responsible investment efforts have delivered on behalf of our clients and to the communities in which we operate.

OUR IMPACT ON BEHALF OF OUR CLIENTS

Airports

TRANSPORT INFRASTRUCTURE

R1.8bn

R20 bn committed

Rail/Harbour

R3.7bn

RENEWABLE ENERGY

R20 bn

2 Hydro plants

committed

ROADS

1Landfill gas project 21

R12.9bn

Solar plants

General (Unclassified) R1.9bn

Wind farms

HOUSING

AGRICULTURE

R1.7bn committed

10 farms Taxi loans granted since inception date of May 1997

808

Up to

620

Permanent employees

4 000

Seasonal employees

Workers receiving adult education

Workers with access to pre-paid healthcare

12 779

Hectares of lands

R18.8 bn committed

R1.2bn

7 646

rental

Housing units transferred

13 952

9 941

mortgage loans granted

Student beds

START-UP FINANCING

78 666

5 677 Rental units

EDUCATION

Schools

R1.4 bn committed

93%

Matric pass rate for 2016

1 074

Number of staff employed

16 500

Learners enrolled

Sources: African Infrastructure Investment Managers (AIIM); Futuregrowth Asset Management; Old Mutual Investment Group; Old Mutual Alternative Investments; Old Mutual Specialised Finance; Figures as at 30 June 2017

To invest today, for tomorrow, visit www.oldmutualinvest.com

The following entities are licensed Financial Services Providers (FSPs) within Old Mutual Investment Group (Pty) Ltd Holdings approved by the Registrar of Financial Services Providers (www.fsb.co.za) to provide advisory and/or intermediary services in terms of the Financial Advisory and Intermediary Services Act 37 of 2002. These entities are wholly owned subsidiaries of Old Mutual Investment Group Holdings (Pty) Ltd and are members of the Old Mutual Investment Group. Old Mutual Investment Group (Pty) Ltd (Reg No 1993/003023/07), FSP No:604. | Old Mutual Alternative Investments (Pty) Ltd (Reg No 2013/113833/07), FSP No:45255. | African Infrastructure Investment Managers (Pty) Ltd (Reg No 2005/028675/07), FSP No:4307. | Futuregrowth Asset Management (Pty) Ltd (Reg No 1996/18222/07), FSP No:520.

AEEI aeei.co.za

The Principle of Prosperity – Putting People First Times are tight. Without belabouring the point, we all feel it in some way in our respective working day – the time for ‘business as usual’ is long gone. To be a successful business tomorrow is not just about how big your bottom line is today. Putting people at the centre of our operations will keep us moving forward, despite the impending 4th Industrial Revolution where man and machine converge and where many see Artificial Intelligence (AI) replacing human functions in the workplace. Prosperity will favour the company that creates an environment in which its people wish to take ownership for their actions, with a view to the greater good of the company. This applies equally to startups and blue-chip organisations. How can someone be expected to be professional, courteous or empathetic with a customer if the company they work for does not demonstrate the same values to its employees, or lead by example through its executives? A company’s most valuable resource is its human capital, yet it is

khalid abdulla

also often neglected in the resource allocation plan. Investing in our people is a pre-requisite for laying the foundations of great economies, and while we move ever faster into the digital realm, which will forever change how our businesses are operated and indeed governed, we must remember it is our people who also develop with the times and who need investing in. While qualifications have a role to play, we look beyond what’s on paper and at the person as a whole. We, as drivers of industry, need to encourage ongoing training and skills development for all levels of personnel. We need to share the company vision with everyone

Leadership starts at the top. It is time for change and for leaders to connect to one another and people, through a shared sense of meaning and purpose. We need to raise one another to higher levels of motivation and commitment, so that together, we can achieve sustainable value creation and social change for all. Putting people first before profit, will result in long-term prosperity. Khalid Abdulla

in the organisation, and inculcate a culture of self-developed integrity and accountability in them (and ourselves), from the outset. Business is all about teamwork – working together to achieve a common goal and so it should be for the country too – that of longterm prosperity in which every one of us can share. It is not about scoring home goals.

Quay 7, East Pier, Victoria & Alfred Waterfront, Cape Town, 8001, South Africa Top500 9th Edition 123

EDITORIAL

THE FUTURE OF MONEY IS ABOUT PEER-TO-PEER CURRENCIES

THE FUTURE OF MONEY IS ABOUT

PEER-TO-PEER CURRENCIES BY LORENZO FIORAMONTI

000 Top500 9th Edition

THE FUTURE OF MONEY IS ABOUT PEER-TO-PEER CURRENCIES

EDITORIAL

MAINSTREAMING CRYPTOCURRENCIES As I explain in my book, Wellbeing Economy: Success in a World Without Growth, our money systems are undergoing an unprecedented transition from centralised authority (as represented by the ‘fiat’ money minted by states) to peer-to-peer networks managed in decentralised fashion. This is not a peripheral phenomenon: it is fast replacing most financial processes. Take Bitcoin as an example. Invented by a mysterious coder in 2009, it has

Lorenzo Fioramonti is Professor

quickly become the most valuable currency in the world, presently

of Political Economy at the

worth almost three times as much as an ounce of gold. A student

University of Pretoria and

buying the equivalent of 100 dollars in Bitcoin in 2012, when I started

author of Wellbeing Economy:

my lectures, would now possess roughly 32 000 dollars. Those who

Success in a World Without

invested 1 dollar in Bitcoin at its inception would now own over

Growth (Macmillan 2017). A

300 000 dollars. No other form of investment in the history of

shorter version of this article was

mankind has ever generated so much value in such a short period.

published in The Conversation.

Since the time of my lectures, cryptocurrencies have taken the world hen I began to teach in 2012, I decided to start my

by storm (and some of my students have become rich). Bitcoin has

course with an analysis of how money affects social

a market capitalisation above 50 billion US dollars. Other currencies,

order. I kicked off by criticising the conventional idea

too, like Ethereum, Ripple, Litecoin and Dash have reached significant

that money is just a store of value, a medium of exchange and a

value and growing market caps, almost matching Bitcoin’s. Of the

unit of measurement. My point was that there can be many different

ten most valuable currencies in the world, eight are cryptos. Despite

types of money, each impacting our collective behaviour and the

high volatility in the short-term (which is to be expected for such

quality of our democracies differently.

disruptive innovations), the long-term trend is impressive. So much so that states are warming up to this burgeoning phenomenon,

What my students found particularly fascinating was the

especially in times of low growth, when conventional money is less

then-nascent world of cryptocurrencies, which I described at length

likely to come by.

as a crucial feature in the future of money. Some colleagues criticised my approach, accusing me of indirectly encouraging students to

In April 2017, Japan accepted Bitcoin as a payment method, opening

invest in what they saw as a shady, crime-ridden world of financial

the way for this currency to enter its mainstream retail markets. After

misgivings. In reality, I was simply exposing young minds to a fast-

threatening digital currencies last year, the Russian government

evolving, complex phenomenon that in my view would have a major

took a U-turn: President Putin met the developers of Ethereum and

impact on power distribution in the global economy.

committed to recognising cryptocurrencies in 2018. Following an initial freeze, the People’s Bank of China readmitted withdrawals in

Behind most cryptocurrencies is a simple technology known as

Bitcoin in June 2017, catapulting the currency to new heights. In the

‘blockchain’ – a system residing in multiple computers that allows for

US, cryptocurrencies are becoming increasingly accepted as both

peer-to-peer financial ledger recording of all transactions occurring

a method of payment and store of value. Starting July 2017, the

in a network.

Australian government “will make it easier for new innovative digital currency businesses to operate”, exempting traders and investors

This results in a transparent open-access registry of monetary flows

from Goods and Services Tax.

which makes the intermediation of banking authorities unnecessary. Thus, it challenges the conventional belief that money can only work through central planning.

Top500 9th Edition 125

“

Of the ten most valuable currencies in the world, eight are cryptos. Despite high volatility in the short-term (which is to be expected for such disruptive innovations), the long-term trend is impressive. So much so that states are warming up to this burgeoning phenomenon, especially in times of low growth, when conventional money is less likely to come by.

“

money presents an opportunity to democratise the economy. This is propelled by the fact that people in Nigeria have been failed by conventional money. According to my colleague, Verengai Mabika, founder of BitFinance in Zimbabwe, the collapse of his country’s formal financial system has made Bitcoin an attractive alternative, especially for online payments, In August 2018, the Bitcoin network split into two, through what

which are restricted by banks, and for remittances, which constitute

tech specialists call a ‘hard fork’. This meant that a new currency was

the backbone of the economy. While conventional platforms such as

generated by users, the so-called Bitcoin Cash. It is quite astounding

MoneyGram and Western Union charge between 10–15%, Bitcoin

not only that Bitcoin did not lose value during the fork, but that it

rewards remitters because its price is higher in the country than

has skyrocketed to over 3 000 dollars since. Moreover, this transition

elsewhere (about 20%). Basically, people enjoy a negative fee for

was made possible by the coordination of hundreds of thousands of

transferring Bitcoins into the country. A growing number of people

users (both developers and ‘miners’), an extremely complex task that

are also using cryptocurrencies as a savings mechanism (37% of all

even veteran central bankers often fail to achieve. In my view, this is

BitFinance customers use it for that purpose), after the massive loss

an important testament to the ability of new currencies to grow and

of personal savings during the hyperinflation period of 2008, which

acquire further strength.

led to the collapse of the country’s banks.

DEVELOPING COUNTRIES ARE LEAPFROGGING

DECENTRALISATION AND LOCAL ECONOMIC DEVELOPMENT

Developing economies, too, are opening up to cryptocurrencies. In

The blockchain has challenged the conventional belief that money

Venezuela, Bitcoin has become the leading parallel currency, providing

can only work through a central authority. The decentralisation

millions of citizens with an opportunity to perform transactions

of money is indeed at the core of this new trend, with potential

and generate livelihoods, including buying food and other basic

repercussions in other fields. For instance, Ethereum was designed

necessities in a country where official money is worth almost zero. In

as a smart contract platform, while FairCoin supports fair trade

East Africa, local innovators have introduced cryptocurrency systems

practices. More cryptocurrencies are being developed almost every

to support cross-border transactions, as exemplified by initiatives like

month. Some of them never really take off, while others pick up steam

BitPesa. In South Africa, cryptocurrencies are becoming particularly

quite quickly. Some civil society groups are also experimenting with

popular. In Nigeria, local traders and activists believe this new

cryptocurrencies with a view to developing user-driven approaches to universal basic income.

126 Top500 9th Edition

THE FUTURE OF MONEY IS ABOUT PEER-TO-PEER CURRENCIES

EDITORIAL

Cryptocurrencies are just the tip of an iceberg. According to

country, becoming the worldâ&#x20AC;&#x2122;s largest system of local currencies,

recent estimates, there are over 6 000 complementary currencies

supporting small businesses and empowering communities.

in the world, over 50 times the number of fiat money systems.

In the near future, we will have a variety of money with different

Most of these citizen-controlled currencies are interest-free, that

qualities and different purposes. This will make economies

is, one cannot make money by simply trading in them.

more resilient against shocks and will support more equitable and sustainable development. As my research demonstrates, a

Hoarding makes no sense, as value is not in the accumulation but

combination of regional, national and local currencies could also

in the exchange. Their scope is often limited to certain territories

be the best way forward for the European Union, engulfed by

or types of transactions (for example, personal care, sustainable

its monolithic and unsustainable euro, and for any other process

mobility and local trade), thus creating an incentive to support

of regional integration, from Africa to other continents. We may

local economic development and forms of exchange that are

even be able to develop â&#x20AC;&#x2DC;intelligentâ&#x20AC;&#x2122; money, that is, currencies

valued by communities of users.

that are designed to incentivise a more ethical and sustainable behaviour by users, for instance, rewarding purchases that

Regiogeld, a network of local currencies which I studied when

benefit the local economy, minimise environmental impacts and

I was a researcher in Germany, has proliferated throughout the

strengthen social cohesion.

Top500 9th Edition 127

LIFESTYLE

128 Top500 9th Edition

In conversation WITH PAUL SENYOL BY ELSKE JOUBERT

Top500 9th Edition 000

ou’ll often find Cape Town-based artist Paul Senyol traversing the city on his bicycle – enabling him to access the nooks and crannies of the city with ease, from whence he draws some of his inspiration from art on walls done by street artists. According to Paul, his works celebrate the abstract moments of the image: formal qualities of line, form and hue are the basis of his compositions that evolve through the process of painting.

CAN YOU TELL US A LITTLE MORE ABOUT YOURSELF? I was born in 1980 and raised in Cape Town. I’m married to my beautiful wife, Janine, and we live and work from our studio apartment in Woodstock. We are always keen to catch the sunrise, or the sunset. WAS THERE A SPECIFIC MOMENT IN YOUR LIFE WHEN YOU KNEW YOU WANTED TO BE AN ARTIST? Not really. I was kind of forced to make the decision after a number of permanent employment options fell flat. I really didn’t have much of a choice but to continue my work as an artist and take the plunge and give it a shot full-time. I now find myself in the very privileged position of being able to earn a living off something I really love to do. HOW WOULD YOU DESCRIBE YOUR WORK/STYLE? I am a self-taught artist, working in the medium of painting, with the direction of my work leaning strongly towards abstraction and expressionism. I enjoy exploring colour, shape and composition in my work, and draw influence and inspiration from the built and natural environments. AS AN ARTIST YOU CAN DELIVER COMMENTARY ON A NUMBER OF SOCIAL ISSUES. WOULD YOU SAY THAT IS ONE ASPECT OF YOUR WORK? I would say that to a degree I do. For instance, every now and again I’m given the opportunity to paint a mural or wall outdoors. This is something completely different in my approach and execution from my studio work. It’s usually a more experimental and experiential exercise, which takes into account the immediate surroundings, its people and nuances. I find this very exciting: to create something that people can access freely, at any time of day, and take a moment to ponder its meaning within a specific space. WHAT HAVE BEEN SOME OF YOUR MOST MEMORABLE EXHIBITIONS? There have been so many over the years. Some of my first exhibitions were with a collective of artists and designers at a space in Harrington Street, Cape Town called The Bin. My friend, Warren Lewis, and I would put together group shows and projects together. Those years were so great, and everything we did felt so new and fresh. The short time I worked with Ricky Lee Gordon at A Word of Art gallery and residency in Cape Town was also very special. Recently I have been selected as a Barclays L’Atelier finalist – that was a defining highlight in my career so far. And then on a more personal level, I have collaborated with many friends – Wesley van Eeden, Andrzej Urbanksi, Andrew Breitenberg and Andrew Sutherland – over the past few years to create some truly magnificent pieces. I am currently working closely with Salon Ninety One gallery in Cape Town, and owner Monique du Preez has always backed my work and supported my ideas, dreams, exhibitions and projects. I am incredibly grateful for her input into my career and work. 2018 will mark the 10 year anniversary since we started working together. FROM WHERE OR WHO DO YOU DRAW INSPIRATION?

130 Top500 9th Edition

LIFESTYLE

FROM WHERE OR WHO DO YOU DRAW INSPIRATION?

“I FIND THIS

I travel around a lot by bicycle, and I move between city and countryside.

These

natural

VERY EXCITING:

and

urban environments are full of

TO CREATE

colour and texture, which have a constant influence on my work.

SOMETHING

ANY INTERESTING PROJECTS ON

THAT PEOPLE

THE WAY? I just finished some new pieces

CAN ACCESS

for the FNB Joburg Art Fair, which opened on 8 September. After that

FREELY, AT

I will be participating in a number of group shows until the end of the

ANY TIME OF

year. In October I will be teaming up

with

Black

River

Studio

DAY, AND TAKE

Cape Town to work on a number of

variable

edition

screenprints

– something I have had my eye

After Elijah

on experimenting with for a while

A MOMENT TO PONDER

now. That should be something new and exciting.

ITS MEANING

WHERE CAN WE SEE YOUR WORK?

WITHIN A

If you are in Cape Town, most of my work can be viewed at Salon

SPECIFIC

Ninety One on Kloof Street, Cape Town.

Otherwise,

update

SPACE”

Instagram feed regularly with new works and projects: @paul_senyol. WHAT ARE YOU CURRENTLY READING? Too many books to even mention. I wish I could just finish one already! The last book I finished reading was by Richard Moore titled Étape: The Untold Stories of the Tour de France’s Defining Stages.

Dreamer of Dreams

Only Orchid

Top500 9th Edition 131

THE YEAR Connoisseur

BY ANTON PRETORIUS

LIFESTYLE

“Whisky is an innovation game that keeps on evolving, just as customers evolve” THE WHISKY INDUSTRY IS MORE DYNAMIC NOW THAN EVER. WE LOOK AT THE TRENDS IN THE INDUSTRY.

rom phenol levels to cask finishes, artisan distilling and designer whiskies, there’s a trend among consumers who are showing interest in the finer details of this brown spirit.

While Irish, Scottish and American whiskeys have enjoyed longstanding popularity, countries like Japan and India are becoming major players in the premium whisky game. New markets are also starting to open up, as indicated by a study by Bank of America Merrill Lynch, which noted that India consumed over 1.5 billion litres of whisky in 2014. Gone are the days of the ‘anything goes’ drinker: we have entered the era of the whisky connoisseur. Judd Zusel, Rémy Cointreau’s Vice President of Marketing and Innovation, says that consumers continue to seek out artisan spirit products. “It’s clear they want to know who made it, how it was made and the terroir of the raw materials. They want to know that people are involved in every step of the process.” Buzzwords like ‘craft’ and ‘handmade’ have been tossed around

Premium whisky brand, Glenfiddich’s national brand ambassador in South Africa, Luthando ‘Jezz’ Tibini, has conducted nearly 20 000 whisky/food pairings over the past five years and points out that it is a misconception that these pairing evenings are merely about drinking. “It is about lifestyle, networking and building relationships with outlets, such as restaurants, lounges, bars and hotels. “This is where we conduct our tastings, pairings and all other forms of brand engagements,” he says. In days past, Glenfiddich was perceived as a brand for ‘old people’, but the company has been successful in drawing a lot of younger consumers to the brand. “Whisky is an innovation game that keeps on evolving, just as customers evolve. We still have our core range, but these are the everyday expressions that define us as a brand and these speak to our everyday consumers,” Tibini adds. When it comes to whisky trends, bars, hotels and restaurants are offering great services, such as whisky cocktails served with pairing snacks and cigars. “The best food pairing is the Glenfiddich 12 Year Old and salmon. The one complements the other in flavour, texture and finish,“ explains Tibini.

recklessly for too long and lost their flavour. Instead, consumers are getting wiser and looking deeper into the production methods of these products.

Top500 9th Edition 133

“Drinking whisky has very much become a status symbol with a noticeable trend towards single malts as opposed to blends”

His favourite cigar pairing is the Glenfiddich 21 Year Old Caribbean

The hotel orders whisky stock based on consumer requirements

Rum Cask Finish and Romeo y Julieta Exhibicion No.4. “The

and target market. He adds that the entry of the affluent black

combination gives a fruity, nutty flavour with hints of spices and

market has had a significant impact on whisky sales. “Apart from

sweetness.” He adds that a noticeable trend is that more women

the popular brands, hotels also need to stock a good selection of

are drinking Scotch on the rocks.

blended, Irish and American whiskeys to complement the single malts on offer.”

At the end of 2016, Glenfiddich launched two expressions from their Glenfiddich experimental series called Project XX

Drinking whisky has become a status symbol with a noticeable

(pronounced Project 20) as well as the Glenfiddich IPA. The

trend towards single malts as opposed to blends. Whisky is also no

Glenfiddich IPA is finished in casks that were seasoned with Indian

longer a drink that is enjoyed by the elite in a cigar club, but rather

Pale Ale Beer created specifically for this whisky.

enjoyed by people from a variety of social spheres. More women are starting to appreciate the art and sophistication synonymous

Heinrich Göttsche, food and beverage manager of the Protea Hotel Fire and Ice by Marriott Pretoria Menlyn, says that the Glenfiddich Rich Oak 18 Year Old is by far their bestseller, closely followed by the Glenlivet 15 Year Old and other ranges of premium whisky brands, which include Balvenie, Highland Park and Abelour.

134 Top500 9th Edition

with whisky, explains Göttsche.

LIFESTYLE

WHISKY TRENDS IN 2017/18

has shown that there are four whisky tiers in South Africa: The value

WHISKY ATTRACTING A YOUTHFUL CROWD

price $13 per bottle), premium sector (retail price more than $15

Millennials love bourbon and are now drinking rye and Scotch too. Whether as a sipper or in cocktails, this new and growing appreciation for whisky amongst the younger crowd has helped jumpstart the global whisky revival. In South Africa, from Sandton to Soweto, whisky has become popular with the aspirational middle class, and it is the fastest-growing spirit in South Africa, with its growth outpacing even cider and beer. The annual Whisky Live Festival in Johannesburg and Cape Town has proven so popular that Durban has now been added to the list of exhibition venues. Co-organiser of the festival, Sian Neubert, says that there’s been

sector (retail price of under $9 per bottle), standard sector (retail per bottle) and the super premium sector ($120 per bottle and more). Although every tier has shown growth, it is the premium sector which has shown to be the most impressive. This is due to a steady rise in the middle class and whisky’s aspirational status as well as the industry’s investment in education. KNOW YOUR WHISKY Classes and workshops are one way to top up on whisky knowledge and the result is smarter consumers and savvier connoisseurs across all ages and demographics. “Customer-based knowledge

growing interest from women and the 25 to 35-year-old age group.

is skyrocketing,” says Göttsche of Protea Hotel Fire and Ice. “A few

WHISKY FOOTPRINT IN AFRICA

‘angel’s share’ were gibberish to 95% of casual whisky drinkers.

Johnnie Walker whisky is one of the top selling brands in South Africa and Africa is one of its best whisky markets. So much so that it has launched a brand new whisky called Johnnie Walker Platinum Label. Brandhouse, a joint venture between Heineken, Londonlisted Diageo and Namibia Breweries, has hinted at plans to take this whisky to parts of West and East Africa. Head of brown spirits portfolio at Brandhouse, Nyimpini Mabunda, says that there is a lot of activity in certain markets in Africa, such as Angola, and there are plans to extend Johnnie Walker Platinum Label’s footprint on the continent. “In South Africa, whisky is growing at three times the total market. That is about four-million nine-litre cases sold per year,” he

years ago, terms like ‘non-distiller producer’, ‘mash bill’, and even Things are changing.” CRAFT DISTILLING Similar to the evolution of the craft beer movement, whisky has also gone that route. In South Africa, there are several small artisan distillers making whisky. Some distillers are actually buying their ‘beer’ from brewers, thus focusing their efforts primarily on distilling and ageing. Because this industry is still young, so are many of their whiskies. DESIGNER WHISKY

says.

Some distillers are making tiny quantities of time-intensive, high-

THE ‘PREMIUMISATION’ OF WHISKY

best barley, the purest water and carefully monitor them through

Pernod Ricard also competes in the premium whisky space in Africa

cost and high-quality whiskies. They are using the finest wood, the each phase of their production life – but with a price tag to match.

with its Jameson Irish Whiskey, Chivas Regal Scotch whisky and The Glenlivet single malt Scotch whisky, among others. Research

Top500 9th Edition 135

F U N C TIONAL

AS IT IS

fabulous L A N D R OVE R D I SCOV E RY S P O RT

remember my first encounter with a Land Rover. I was 8-years old, glued to the television, watching Her Royal Highness, the Queen of England, perched regally atop her Land Rover Defender, parading the streets and waving at the masses. To this day, Land Rover is still the Queen’s favourite set of wheels. I know this, because I asked her in a letter that I sent to Buckingham Palace once. Her royal household promptly replied, confirming what I suspected all along. I was fascinated – wondering what would make the

136 Top500 9th Edition

Landy special enough for royalty to choose it over a Bentley or a Rolls Royce? Twenty-four years later and my love affair with Land Rover continues. I’ve traversed sub-Saharan Africa in a Freelander; I’ve conquered a near-vertical dune in Namibia with a Defender; I’ve crossed the historic Sani Pass in a 1950s Series model and I’ve driven from Marrakech to Fez in a Range Rover. But why would noble queens and other famous personalities find Land

By Anton Pretorius Gone are the days where only rugged explorers drove rough and tumble Land Rovers. Today, the Land Rover badge is to cars what Rolex is to watches – premium. With handsome good looks and superior off-road capabilities, the Discovery Sport offers the best of both worlds.

Rover – a vehicle that’s so glaringly utilitarian – appealing? That’s when it hit me. This iconic brand simply oozes adventure. While the Defender has gracefully retired from the production line last year, the latest offerings from Land Rover still retain that characteristic ‘Adventure DNA.’ The unassuming Discovery Sport is perfectly placed for the modestpocket buyer’s market, attracting just the right amount of attention not to go unnoticed. It’s not quite the fashion accessory as its ‘bling’ sibling, the Evoque, nor is it as daunting as

CAR REVIEW

the Range Rover Sport in terms of size, price and maneuverability. Occupant space is generous within the compactly designed Disco Sport, even for those sitting in the tail end of the vehicle. A brand-new rear suspension design is specifically incorporated to allow the packaging of seven seats as standard in every model. We exchanged tarmac for gravel on our review route with Land Rover Experience Western Cape, who took us through the rock-strewed back

www.eastrand.landrover.co.za

roads of the picturesque farming village of Philadelphia. The vehicle was properly tested off-road with some grade four trails and wading exercises across strong-flowing rivers. The Disco Sport took it all in its stride. It cleared every obstacle without skipping a beat or without so much as a rattle or a squeak. This confirmed Land Rover’s new unofficial mantra to me: You don’t have to look as rugged as Bear Grylls or have a beard like Kingsley Holgate to enjoy the adventures of an outdoorsy lifestyle.

The Disco Sport features a firstclass infotainment system, a hardworking engine and all the bells and whistles you’ve come to expect from new-generation Land Rovers (Park Assist, Terrain Response, Lane Departure Warning), while at the same time, dishing up comfort and specification levels to match competitors. The Disco Sport starts at between R740 000 and R800 000 and a good chunk of that is what you pay for the ‘premium-ness’ of the Land Rover badge. Granted, for the same price, one could get something completely different. But would you enjoy it as much as a Land Rover? Probably not... If you don’t believe me, ask the Queen!

011 841 3050 Top500 9th Edition 137

2017 7 March M el r o se A r c h

Johannesburg

w w w. t o p 5 0 0 . c o . z a 138 Top500 9th Edition

TOP500 AWARDS

EDITORIAL

WHERE DO THE AWARDS COME IN? To take the best of the publication’s companies from the page to the stage, our research team takes the number one companies in each of the publication’s 100 sectors, measures them against a second round of even tougher points-based criteria, and settles on 60+ finalists

On 7 March 2017, corporate history was

asset management. While South Africa

made with the hosting of the first annual

may from time-to-time experience

contacted, congratulated

Top 500 Awards.

choppy waters on the political front,

and invited to contest the

The ceremony drew more than 60

to keep the country’s competitiveness

awards at the annual Top

finalists directly from the pages of our

on an even keel.

who are then personally

500 Awards ceremony.

these economic heavyweights continue

well-known annual Top 500 publication. Winners on the night, selected through

Our Top 500 companies are also to

intense deliberation from the judges,

be lauded for creating jobs, investing

were lauded as the absolute best of

in SMEs and skills development,

the best in 12 economic sectors. The

transforming their supply chains, and

company has a chance

highlight of the night was the crowning

partnering with the public sector to

of going from being one

of Anglo American SA as the Best

advance national development.

Managed Company in South Africa

Any South African

of 10 000 companies researched for the publication, to becoming one of our esteemed awards finalists – if you’re a proven champion in your

overall.

They may be regarded as not just the best-managed companies in South

The ceremony underscored the

Africa, but as some of the best-

stability and strength of corporate

managed companies in the world.

South Africa whose companies are renowned worldwide for their stability

We thank all awards finalists, winners,

and respected for their culture of good

sponsors, partners and delegates for

governance, best practice and shrewd

sharing our vision.

sector.

Top500 9th Edition 139

ORGANISATIONS THAT PARTICIPATED PSM

Homechoice Holdings Limited

Jaguar Land Rover East Rand

Flight Centre

Cardova

Sun International Limited

SABI

Cape Town International Convention Centre Company (Pty) Ltd (CTICC)

The Star Anglo American South Africa Limited Exxaro Coal (Pty) Ltd Trans Hex Group Limited The Petroleum, Oil and Gas Corporation of South Africa (Pty) Ltd

Tsogo Sun Hotels Naspers Limited MultiChoice South Africa (Pty) Ltd Primedia (Pty) Ltd Ogilvy & Mather South Africa

Gold Fields Limited

The MediaShop (Pty) Ltd

Engen Petroleum Limited

Adcorp Holdings Limited

Sappi Southern Africa

Eqstra Holdings Limited (Passenger & Commercial Vehicles)

Pretoria Portland Cement Company Limited (PPC) Massbuild (Pty) Ltd t/a Builders Warehouse, Builders Express, Builders Trade Depot The Bidvest Group Limited Reunert Limited Murray & Roberts Cementation (Pty) Ltd Barloworld Equipment (a division of Barloworld Limited)

ClareMart Auction Group (Pty) Ltd Servest Hygiene (Pty) Ltd Fidelity ADT Security Group (Pty) Ltd The Standard Bank of South Africa Limited Remgro Limited PSG Group Limited Zeder Investments Limited

Gibb (Pty) Ltd

Liberty Holdings Limited

Mercedes-Benz South Africa (Pty) Ltd

Bidvest Panalpina Logistics

The South African Breweries Limited

Imperial Logistics Africa

Metair Investments Limited

Avis Rent a Car (a division of Barloworld South Africa (Pty) Ltd)

Oceana Group Limited Volvo Group Southern Africa Discovery Medical Scheme (Pty) Ltd Mediclinic Southern Africa Limited Aspen Pharmacare Holdings Limited Discovery Health (Pty) Ltd Woolworths Holdings Limited Canal Walk Shopping Centre

Mr Price Group Limited

140 Top500 9th Edition

Grindrod Limited Skynet South Africa (Pty) Ltd EOH Holdings Limited Nashua Limited Altech Alcom Radio Distributors (Pty) Ltd Pinnacle Holdings Limited MWEB Connect (Pty) Ltd

TOP500 AWARDS

EDITORIAL

SPEAKERS KEYNOTE SPEAKER MALUSI GIGABA, MINISTER OF FINANCE Mr Gigaba is the current Minister of Finance for South Africa. He is a member of the African National Congress (ANC), serving on its National Executive Committee (NEC) and National Working Committee (NWC), and is the organisationâ&#x20AC;&#x2122;s National Elections Co-ordinator.

He is a teacher by profession and an academic, whose passion for education as a tool for social upliftment finds its expression in his work as the Patron of the Nompumelelo Institute for Leadership.

VIP SPEAKER ASHER BOHBOT, FORMER CEO, EOH HOLDINGS Mr Bohbot served as the Group Chief Executive Officer of EOH Holdings Limited, the largest technology company in Africa. He first arrived in SA in 1980, at the age of 27, having been born in Morocco but raised in Israel. Following a stint at AECI as a senior engineer, he joined Laminate Industries (later to be part of the PG Group) in 1981 as an industrial engineering manager. In 1990, he was appointed as a logistics director and proceeded to rise further, taking responsibility for Group Logistics and IT at PG Bison in 1995. In 1998 Bohbot left the PG Group and started EOH, a business and technology solutions provider. In 2013, EOH was the best performing share on the JSE.

MASTER OF CEREMONIES MARK PILGRIM, RADIO & TV PERSONALITY With his distinctive, warm personality and easy going demeanour, radio and TV personality Mark Pilgrim is a household name in South Africa. This multi-award winning presenter has spent over 20 years entertaining millions of listeners and viewers.

Mark is also one of South Africaâ&#x20AC;&#x2122;s most experienced Master of Ceremonies and has hosted hundreds of corporate events over the past two decades. He is also a wellknown motivational speaker as well as an ambassador for CANSA and the Heart and Stroke Foundation of SA.

Top500 9th Edition 141

THE JOURNEY TO GOLD STATUS Companies researched annually Qualified for publication

4 000 500

Awards finalists

Winners

INDUSTRY BREAKDOWN Diversified Mining

Travel & Tourism

Coal

Gaming & Leisure

Diamond Mining

Exhibition & Conference Facilities

Gas

Hotels

Gold

Media Group

Specialised Chemicals

Broadcasting Contractors

Retail & Commercial Fuels

Outdoor Media Groups

Forestry

Advertising

Cement

Media Agencies

Builders Merchants

Recruitment Group

Diversified Industrial

Fleet Management & Vehicle Tracking

Electronic Products

Auction Houses

Mining Services

Hygiene Services

Industrial Products & Equipment

Corporate Security Services

Consulting Engineering

Banks

Automobiles

Investment Holdings Companies

Beverages â&#x20AC;&#x201C; Breweries

Investment Services

Automotive Components

Specialised Finance

Fishing

Life Insurance

Commercial Vehicles

Freight Forwarding

Medical Aid Schemes

Road Freight

Hospital Management

Car Hire

Pharmaceuticals

Airlines

Medical Aid Administrators

Courier Services

Diversified Retailers / Food Retailers

Information Technologies

Shopping Centres

Office Automation

Retail â&#x20AC;&#x201C; Soft Goods

Telecoms Equipment

Direct Response Marketing

IT Components Distribution

Furniture Retailers

142 Top500 9th Edition

EDITORIAL

TOP500 AWARDS

CATEGORY SPONSOR

Public Sector Manager magazine communicates with a strategic component of government’s target audiences – senior public sector managers. The magazine aims to help public sector/government managers and their departments/agencies to improve the quality of the services they provide, by reporting on management innovations and best practices within the public sector.

MEDIA PARTNERS

Afternoon Express was launched in May 2015 and takes viewers on a fascinating journey of self-expression – from food, fashion tips and DIY to guest performances and inspiring stories. Afternoon Express empowers and educates viewers to pursue their passions, look their best, create beautiful homes and start their own businesses, all while presenting its content in a fresh, fun and enlightening way.

Expresso, elder brother of Afternoon Express, launched in October 2010 and is a flagship for the inspirational energy of South Africans. Every weekday, the show celebrates South Africa with a positive and uplifting tone, inspiring viewers around the country to live their best lives. The informal chats and natural charm of Expresso’s presenters gives all of us a brighter start to our day.

Van Heerden Mays Publications CC t/a Media Xpose was founded in 2010 and publishes four titles, including South African Business Integrator. Media Xpose also specialise in the design and printing of company corporate images, newsletters, letterheads, brochures and advertising. It is a Level 2 B-BBEE contributor, based on its January 2016 BEE certification audit.

Unchallenged as South Africa’s most influential daily newspaper, The Star covers the heart of the nation with unequalled reporting of local, national and international news and sport. It is widely considered to be a highly effective advertising environment. The Star shines bright over its large readership based in densely-populated Greater Johannesburg – South Africa’s major economic hub.

REGISTRATION SPONSOR

The leaders in premium SUV, saloon and sports vehicles in the East Rand. As part of the Super Group Automotive group, Jaguar Land Rover East Rand has a state-of-the-art showroom and three further dealerships in Rustenburg, Nelspruit and Vereeniging. Visit the showroom to test-drive the latest iconic vehicles from the prestigious Range Rover, Land Rover and Jaguar brands – designed for admired decision makers with a national and international sphere of influence. www.eastrand.landrover.co.za | www.eastrand.jaguar.co.za | +27 11 841 3050 | joe.senekal@supergrp.com Top500 9th Edition 143

2017 AWARD FINALISTS “Take a moment to reflect on your phenomenal journey to this point, as a finalist. Every year, 10 000 companies are intensively researched and surveyed by Topco Media; 1 in 20 of them make the cut for the Top 500 coffee table publication … out of those 500, less than 70 are designated as finalists for the awards.” – MC Mark Pilgrim

TOP 500 BEST MANAGED COMPANY IN RESOURCES AWARD Anglo American South Africa Limited

TOP 500 BEST MANAGED COMPANY IN RETAIL AWARD

Exxaro Coal (Pty) Ltd

Woolworths Holdings Limited

Trans Hex Group Limited

Canal Walk Shopping Centre

The Petroleum, Oil and Gas Corporation of South Africa (Pty) Ltd

Mr Price Group Limited HomeChoice Holdings Limited

Gold Fields Limited

TOP 500 BEST MANAGED COMPANY IN BASIC INDUSTRIES AWARD

TOP 500 BEST MANAGED COMPANY IN HOSPITALITY AWARD Flight Centre

Sasol Limited

Sun International Limited

Engen Petroleum Limited Sappi Southern Africa Limited

Cape Town International Convention Centre Company (Pty) Ltd (CTICC)

Pretoria Portland Cement Company Limited (PPC)

Tsogo Sun Hotels

Builders Warehouse, Builders Express, Builders Trade Depot and Builders superstores

TOP 500 BEST MANAGED COMPANY IN MEDIA AWARD

TOP 500 BEST MANAGED COMPANY IN GENERAL INDUSTRIES AWARD

Naspers Limited

The Bidvest Group Limited

Primedia (Pty) Ltd

Reunert Limited

Ogilvy & Mather South Africa

Murray & Roberts Cementation (Pty) Ltd

The MediaShop (Pty) Ltd

Barloworld Equipment (a division of Barloworld Limited) GIBB (Pty) Ltd

MultiChoice South Africa (Pty) Ltd

TOP 500 BEST MANAGED COMPANY IN BUSINESS SUPPORT SERVICES AWARD Adcorp Holdings Limited

TOP 500 BEST MANAGED COMPANY IN CONSUMER GOODS AWARD Mercedes-Benz South Africa (Pty) Ltd The South African Breweries Limited Metair Investments Limited Oceana Group Limited Volvo Group Southern Africa

Eqstra Holdings Limited (Passenger & Commercial Vehicles) ClareMart Auction Group (Pty) Ltd Servest Hygiene (Pty) Ltd Fidelity ADT Security Group (Pty) Ltd

TOP 500 BEST MANAGED COMPANY IN FINANCIAL SERVICES AWARD The Standard Bank of South Africa Limited

TOP 500 BEST MANAGED ORGANISATION IN HEALTH & PHARMACEUTICALS AWARD Discovery Health Medical Scheme Mediclinic Southern Africa Limited Aspen Pharmacare Holdings Limited Discovery Health (Pty) Ltd

144 Top500 9th Edition

Remgro Limited PSG Group Limited Zeder Investments Limited Liberty Holdings Limited

TOP500 AWARDS

EDITORIAL

2017 AWARD WINNERS Top 500 Resources Award

Anglo American South Africa Limited

Top 500 Basic industries Award

Engen Petroleum Limited

Top 500 General Industries Award

The Bidvest Group Limited

Top 500 Consumer Goods Award

Mercedes-Benz South Africa

Top 500 Best Managed Organisation in Healthcare and Pharmaceuticals Award

Discovery Health Medical Scheme

Top 500 Retail Award

Woolworths Holdings Limited

Top 500 Hospitality Award

Flight Centre

Top 500 Media Award

Naspers Limited

Top 500 Business Support Services Award

Adcorp Holdings Limited

Top 500 Transport

Bidvest Panalpina Logistics

Top 500 Financial Services Award

The Standard Bank of South Africa

Top 500 ICT Award

EOH Holdings Limited

Top 500 Best Managed Company Award

Anglo American South Africa Limited

SA’S BEST MANAGED COMPANY OF 2017 “ Today, businesses that operate sustainably are likely to prosper. For Anglo American, this means meeting our commitments to stakeholders and seeking to operate to the highest possible standards of safety, health, environmental and community development practices.”– Chief Executive, Mark Cutifani. Congratulations, Anglo American, you now lead the first inner circle of the Top 500, together with our other esteemed winners: business royalty and an inspiration to the nation.

Top500 9th Edition 145

Top 500 Award winners

Adcorp

Woolworths Holdings Limited

146 Top500 9th Edition

Mark Pilgrim

TOP500 AWARDS

Discovery Health Medical Scheme

EOH Holdings Limited

EDITORIAL

Engen Petroleum

Flight Centre

Mercedes-Benz South Africa

The Bidvest Group Limited

Top500 9th Edition 147

HOW THE

WINNERS

ARE DECIDED

000 Top500 9th Edition

SOUTH AFRICA’S TOP 500 COMPANIES

THE TOP 500 RESEARCH METHODOLOGY HAS BEEN DESIGNED IN CONJUNCTION WITH THE UNIVERSITY OF CAPE TOWN’S DEVELOPMENT POLICY RESEARCH UNIT. Top 500 aims to identify the top five companies in each of the 100 business sectors monitored by Topco’s research department. In order to do so, some measure of the qualities that we consider to be characteristic of top companies must be designed in order to rank companies. To be classed as one of South Africa’s best companies, we expect companies to excel in three key spheres, namely financial performance, empowerment, and policy and accreditation. The criteria within financial performance speak to the ideas of top companies being large, growing and productive institutions that are leaders by virtue of their size and dynamism. Financial performance is measured by four indicators: turnover, rate of turnover growth, rand turnover growth, and turnover per employee. Size is both an indicator and an outcome of whether or not a company is a top company. From the perspective of financial performance, turnover is used to proxy company size and this indicator has large weight within the measure. The dynamism of top companies is reflected in their ability to expand and grow, and so we include two indicators – one relative, one absolute – of growth in the score sheet. The former indicator is the rate of turnover growth over the year – since top companies are faster growing, while the latter is the rand value of the turnover growth. Absolute turnover growth is included to account for the fact that top companies’ growth should make a large contribution to increased total output. These two indicators have a medium weight within the scoring system. Top companies are more productive than other companies and the final performance indicator, turnover per employee, which has a medium weight, speaks to this characteristic.

The business sector has an important role to play in promoting equity and social transformation. Top companies are committed to fulfilling this role, and this commitment is measured using six criteria. Two of these criteria focus on companies’ commitment to the goal of transformation as demonstrated in their employment profiles, namely the shares of employment accounted for by female employees and by black employees respectively. Top companies, however, go further than just employment and are committed to ensuring greater diversity at the level of management and control. The proportions of black and female executive and nonexecutive directors are evaluated to complete the scoring for this sphere. Top companies are involved within communities and are committed to quality. This sphere of policy and accreditation accounts for the remainder of the total score. In gauging companies’ engagement and involvement within communities, we measure their total spend on corporate social investment activities relative to net profit. Companies are also judged on the existence of written policies regarding employment equity, skills development, health and safety, HIV/Aids, and the environment. The final criterion within this sphere, commitment to quality, is proxied by the number of SABS-approved accreditations held by companies. MORNÉ OOSTHUIZEN DEPUTY DIRECTOR Development Policy Research Unit University of Cape Town

Top500 9th Edition 149

PRIMARY

RESOURCES 1. COAL 2017 Sasol Mining (Pty) Ltd Exxaro Coal (Pty) Ltd Anglo Operations Limited Wescoal Holdings Limited

2016 Exxaro Coal (Pty) Ltd Sasol Mining (Pty) Ltd Anglo Operations Limited Coal of Africa Limited

2. GOLD 2017 Harmony Gold Mining Company Limited Sibanye Stillwater DRDGOLD Limited Gold Fields Limited AngloGold Ashanti Limited

2016 Gold Fields Limited Sibanye Stillwater AngloGold Ashanti Limited Harmony Gold Mining Company Limited DRDGOLD Limited

3. PLATINUM 2017 Anglo American Platinum Limited Impala Platinum Holdings Limited Royal Bafokeng Platinum Limited Northam Platinum Limited Lonmin PLC Ltd

2016 Anglo American Platinum Limited Impala Platinum Holdings Limited Royal Bafokeng Platinum Limited Lonmin PLC Northam Platinum Limited

150 Top500 9th Edition

4. METALS AND MINERALS

7. DIAMOND MINING

2017

Kumba Iron Ore Limited

Trans Hex Group Limited

Merafe Resources Limited

Alexkor (SOC) Limited

Assore Limited

Petra Diamonds Southern Africa (Pty) Ltd

Foskor (Pty) Ltd

Rockwell Diamonds Incorporated

Palabora Copper (Pty) Ltd

2016 2016

Trans Hex Group Limited

Kumba Iron Ore Limited

Petra Diamonds Southern Africa

Assore Limited

Alexkor (SOC) Limited

Merafe Resources Limited

Rockwell Diamonds Incorporated

Palabora Copper (Pty) Ltd Foskor (Pty) Ltd

5. DIVERSIFIED MINING 2017 Anglo American South Africa Limited South32 SA Coal Holdings Pty Ltd Exxaro Resources Limited African Rainbow Minerals Limited Assore Limited

2016 Anglo American South Africa Limited Assore Limited Exxaro Resources Limited African Rainbow Minerals Limited South32 SA Coal Holdings (Pty) Ltd

6. GAS 2017 Sasol Limited Easigas (Pty) Ltd African Oxygen Limited Air Liquide (Pty) Ltd Air Products South Africa (Pty) Ltd 2016 The Petroleum, Oil and Gas Corporation of South Africa (SOC) Ltd Sasol Limited Afric Oil (Pty) Ltd Air Products South Africa (Pty) Ltd Easigas (Pty) Ltd

SECONDARY

BASIC INDUSTRIES 1. SPECIALITY CHEMICALS 2017 Sasol Limited AECI Limited Rolfes Holdings Limited NCP Chlorchem (Pty) Ltd African Oxygen Limited t/a Afrox

2016 Sasol Limited Omnia Holdings Limited Rolfes Holdings Limited AECI Limited African Oxygen Limited t/a Afrox

2. PAINT MANUFACTURERS 2017 Kansai Plascon Africa (Pty) Ltd ICI Dulux (Pty) Ltd Luxor Paints (Pty) Ltd Dekro Paints (Pty) Ltd

2016 Kansai Plascon Africa (Pty) Ltd ICI Dulux (Pty) Ltd Dekro Paints (Pty) Ltd Luxor Paints (Pty) Ltd

RESULTS 2016

2016

Massbuild (Pty) Ltd t/a Builders Warehouse,

Aveng Africa Limited

Builders Express, Builders Trade Depot and

WBHO Construction (Pty) Ltd

Builders Superstores

Murray & Roberts Holdings Limited

Cashbuild South Africa (Pty) Ltd

Stefanutti Stocks Holdings Limited

Italtile Limited

Group Five Limited

istribution and Warehousing Network Limited D (DAWN) Iliad Africa Limited

5. BUILDING & CONSTRUCTION MATERIALS 2017

8. FORESRTY 2017 Sappi Southern Africa Limited Mondi Limited Hans Merensky Holdings (Pty) Ltd Komatiland Forests (Pty) Ltd

PG Bison Afrimat Limited Mazor Group Limited Trencon Construction (Pty) Ltd Kaydav Group Limited

2016 PG Bison Afrimat Limited Corobrik (Pty) Ltd

3. RETAIL AND COMMERCIAL FUELS 2017 Engen Petroleum Limited BP Southern Africa (Pty) Ltd Total South Africa (Pty) Ltd Shell South Africa (Pty) Ltd

Kaydav Group Limited Esor Limited

6. CEMENT 2017 AfriSam (South Africa) (Pty) Ltd LafargeHolcim WG Wearne Limited Afrimat Limited

2016 Engen Petroleum Limited BP Southern Africa (Pty) Ltd Total South Africa (Pty) Ltd Shell South Africa (Pty) Ltd

4. BUILDERS MERCHANTS 2017 Builders Warehouse, Builders Express, Builders Trade Depot and Builders Superstores Cashbuild South Africa (Pty) Ltd Italtile Limited Distribution and Warehousing Network Limited (DAWN)

2016 Pretoria Portland Cement Company Ltd Afrimat Limited Lafarge Cement WG Wearne Limited

7. CONSTRUCTION GROUPS 2017 WBHO Construction (Pty) Ltd Aveng Africa Limited

2016 Sappi Southern Africa Limited Mondi Limited Hans Merensky Holdings (Pty) Ltd Komatiland Forests (Pty) Ltd

9. STEEL 2017 ArcelorMittal South Africa Limited Hulamin Operations (Pty) Ltd BSi Steel Limited Scaw Metals Group

2016 ArcelorMittal South Africa Limited Hulamin Operations (Pty) Ltd BSi Steel Limited Macsteel Service Centres SA (Pty) Ltd Scaw Metals Group (Pty) Ltd

GENERAL INDUSTRIES 1. AEROSPACE AND DEFENCE 2017 Denel SOC Limited Denel Land Systems SAAB Avitronics Thales South Africa Systems (Pty) Ltd Paramount Advance Technologies (Pty) Ltd

Group Five Limited Stefanutti Stocks (Pty) Ltd Basil Read Holdings Limited Top500 9th Edition 151

2016

Denel SOC Limited

Reunert Limited

Aurecon South Africa (Pty) Ltd

Armaments Corporation of South Africa

Allied Technologies Limited

Howden Africa Holdings Limited

(ARMSCOR)

Vekani Manufacturing

Aecom South Africa (Pty) Ltd

SAAB Avitronics

Siemens SA (Pty) Ltd

WSP Group Africa (Pty) Ltd

Thales South Africa Systems (Pty) Ltd

Saab Grintek Technologies (Pty) Ltd

Bosch Projects

5. INDUSTRIAL PRODUCTS AND EQUIPMENT

8. CONSULTING ENGINEERING MINING & INFRASTRUCTURE

Denel Land Systems

2. D IVERSIFIED INDUSTRIAL

2017

Barloworld Equipment

Barloworld Limited

Invicta Holdings Limited

Imperial Holdings Limited

Hudaco Trading (Pty) Ltd

The Bidvest Group Limited

Winhold Limited

KAP Industrial Holdings Limited

enX Group Limited

Argent Industrial Limited

2016 2016

Barloworld Equipment

The Bidvest Group Limited

Hudaco Industries Limited

Imperial Holdings Limited

Invicta Holdings Limited

Barloworld Limited

Winhold Limited

KAP Industrial Holdings Limited

enX Group Limited

Argent Industrial Limited

3. E LECTRICAL EQUIPMENT 2017

6. HEAVY MACHINERY Bell Equipment Company SA (Pty) Ltd Torre Industries Limited

Consolidated Infrastructure Group Limited

Komatsu Southern Africa (Pty) Ltd

Power Technologies (Pty) Ltd

ELB Group Limited

CBi-electric: Low Voltage

CSE & Northmec

Voltex (Pty) Ltd

2016 ELB Group Limited

Consolidated Infrastructure Group Ltd

Babcock Africa (Pty) Ltd

Power Technologies (Pty) Ltd

Komatsu Southern Africa (Pty) Ltd

CBi-electric: Low Voltage

Torre Industries Limited

4. ELECTRONIC PRODUCTS 2017

7. ENGINEERING GROUPS Aurecon South Africa (Pty) Ltd Howden Africa Holdings Limited

Reunert Limited

Aecom South Africa (Pty) Ltd

Yekani Manufacturing

WSP Group Africa (Pty) Ltf

Saab Grintek Technologies (Pty) Ltd

152 Top500 9th Edition

SMEC South Africa (Pty) Ltd SRK Consulting SA (Pty) Ltd HHO Africa

2016 Gibb (Pty) Ltd Bigen Africa Services (Pty) Ltd Lesedi Nuclear Services (Pty) Ltd SMEC South Africa (Pty) Ltd SRK Consulting SA (Pty) Ltd

9. MINING SERVICES 2017 Murray & Roberts Cementation (Pty) Ltd AEL Mining Services Komatsu Mining Corporation (Pty) Ltd Trollope Mining Services Petmin Limited

2016 Murray & Roberts Cementation (Pty) Ltd AEL Mining Services Ltd Petmin Limited Metso Mining & Construction SA (Pty) Ltd Trollope Mining Services (Pty) Ltd

2017

Altron Group

Siemens SA (Pty) Ltd

Bigen Africa Services (Pty) Ltd

Bell Equipment Company SA (Pty) Ltd

ACTOM (Pty) Ltd

Voltex (Pty) Ltd

Gibb (Pty) Ltd

2017

ACTOM (Pty) Ltd

2016

2017

CYCLICAL CONSUMER GOODS 1. AUTOMOBILES 2017 Mercedes-Benz South Africa (Pty) Ltd Bidvest McCarthy

RESULTS Nissan South Africa (Pty) Ltd Fiat Chrysler South Africa (Pty) Ltd Volkswagen South Africa (Pty) Ltd

2016 Mercedes-Benz South Africa (Pty) Ltd Nissan South Africa (Pty) Ltd Toyota South Africa Motors (Pty) Ltd Bidvest McCarthy Volkswagen South Africa (Pty) Ltd

2. COMMERCIAL VEHICLES 2017 Volvo Group Southern Africa Iveco South Africa (Pty) Ltd Hino South Africa (Pty) Ltd TATA Automobile Corporation SA (Pty) Ltd FAW Vehicle Manufacturers SA (Pty) Ltd

2016

4. HOUSEHOLD APPLIANCES 2017 Nu-World Industries (Pty) Ltd

GWK Limited

Whirlpool South Africa (Pty) Ltd

Oos Vrystaat Kaap Bedryf Bpk

Home of Living Brands (Pty) Ltd

NWK Limited

2016

Defy Appliances (Pty) Ltd

VKB Group

Nu-World Industries (Pty) Ltd

Senwes Limited

Home of Living Brands (Pty) Ltd

GWK Limited

Whirlpool South Africa (Pty) Ltd

Oos Vrystaat Kaap Bedryf Bpk

Ellies Holdings Limited

Omnia Nitriology

NON-CYCLICAL CONSUMER GOODS 1. BEVERAGES â&#x20AC;&#x201C; BREWERIES

4. FARMING

Hino South Africa (Pty) Ltd

Heineken South Africa (Pty) Ltd

Iveco South Africa (Pty) Ltd

Namibia Breweries Limited

TATA Automobile Corporation SA (Pty) Ltd

Halewood International SA (Pty) Ltd

FAW Vehicle Manufacturers SA (Pty) Ltd

2016

Metair Investments Limited Bosal Afrika (Pty) Ltd Feltex Automotive

The South African Breweries Limited Namibia Breweries Limited Halewood International SA (Pty) Ltd Brandhouse Beverages (Pty) Ltd Heineken South Africa (Pty) Ltd

Mahle Behr South Africa (Pty) Ltd

2. DISTILLERS AND VINTNERS

2016

Distell Group Limited

Faurecia Exhaust Systems SA (Pty) Ltd

Metair Investments Limited Mahle Behr South Africa (Pty) Ltd Torre Parts & Components (Pty) Ltd Feltex Faurecia Exhaust Systems SA (Pty) Ltd

VKB Group Senwes Limited

2017

Defy Appliances (Pty) Ltd

Volvo Group Southern Africa

3. AUTOMOTIVE COMPONENTS

3. AGRICULTURE

2017 Orange River Wine Cellars Co-op Ltd Stellenbosch Vineyards (Pty) Ltd DGB (Pty) Ltd

2016 Distell Limited

2017 RCL Foods (Pty) Ltd Astral Operations Limited Sovereign Food Investments Limited Country Bird Holdings Limited

2016 Astral Operations Limited RCL Foods Sovereign Food Investments Limited Country Bird Holdings Limited

5. FISHING 2017 Oceana Group Limited Premier Fishing SA (Pty) Ltd Irvin & Johnson Limited Amawandle Hake (Pty) Ltd Sea Harvest Corporation (Pty) Ltd

2016 Oceana Group Limited Premier Fishing SA (Pty) Ltd Amawandle Hake Sea Harvest Corporation (Pty) Ltd Irvin & Johnson Limited

Orange River Cellar Co-op Limited DGB (Pty) Ltd KWV South Africa (Pty) Ltd Stellenbosch Wineyards (Pty) Ltd

Top500 9th Edition 153

Johnson & Johnson (Pty) Ltd

Eastgate Shopping Centre

Colgate-Palmolive (Pty) Ltd

Menlyn Park Shopping Centre

2016

Faircape Dairies (Pty) Ltd

Amka Products (Pty) Ltd

Canal Walk Shopping Centre

HPC & B (a Division of Tiger Brands)

Sandton City Shopping Centre

2016

Johnson & Johnson (Pty) Ltd

Victoria & Alfred Waterfront

Colgate-Palmolive (Pty) Ltd

Eastgate Shopping Centre

Beige Holdings Limited

Menlyn Park Shopping Centre

10. BEAUTY PRODUCTS

2. DIRECT RESPONSE MARKETING

6. DAIRY PRODUCTS 2017 Clover SA (Pty) Ltd Parmalat SA (Pty) Ltd

Clover SA (Pty) Ltd Parmalat SA (Pty) Ltd Faircape Dairies (Pty) Ltd

7. FOOD PROCESSING GROUPS 2017 Tiger Brands Limited Pioneer Foods (Pty) Ltd AVI Limited Rhodes Food Group (Pty) Ltd Premier Foods (Pty) Ltd

2016 Tiger Brands Limited Pioneer Foods (Pty) Ltd Rhodes Food Group (Pty) Ltd AVI Limited Crookes Brothers Limited

8. PACKAGING 2017 Mpact Limited Transpaco Limited Consol Glass (Pty) Ltd Bowler Metcalf (Pty) Ltd

2016 Nampak Limited Mpact Limited Bowler Metcalf (Pty) Ltd Consol Glass (Pty) Ltd Astrapak Limited

9. PERSONAL PRODUCTS 2017 Amka Products (Pty) Ltd HPC & B (a Division of Tiger Brands Ltd)

154 Top500 9th Edition

2017 Avroy Shlain (Pty) Ltd Revlon South Africa (Pty) Ltd

2017 HomeChoice (Pty) Ltd

L’Oreal South Africa Holdings (Pty) Ltd

Verimark Holdings Limited

Annique Health and Beauty (Pty) Ltd

Homemark (Pty) Ltd

Avon Justine South Africa (Pty) Ltd

2016

2016 HomeChoice (Pty) Ltd

Revlon South Africa (Pty) Ltd

Verimark Holdings Limited

L’Oreal South Africa Holdings (Pty) Ltd

Homemark (Pty) Ltd

Annique Health and Beauty (Pty) Ltd Avroy Shlain (Pty) Ltd Avon Justine South Africa (Pty) Ltd

11. PHARMACEUTICALS 2017 Aspen Pharmacare Holdings Limited Adcock Ingram Limited Ascendis Health Limited Novartis South Africa (Pty) Ltd

3. BEE VERIFICATION AGENCIES 2017 Empowerdex (Pty) Ltd Honeycomb BEE Ratings (Pty) Ltd National Empowerment Rating Agency (Pty) Ltd EmpowerLogic (Pty) Ltd AQRate (Pty) Ltd

Litha Healthcare Group Limited

2016

Aspen Pharmacare Holdings Limited

Empowerdex (Pty) Ltd

Adcock Ingram Holdings Limited

AQRate (Pty) Ltd

Litha Healthcare Group (Pty) Ltd

National Empowerment Rating Agency (Pty) Ltd

Sanofi-Aventis South Africa (Pty) Ltd

EmpowerLogic (Pty) Ltd

Novartis South Africa

Honeycomb BEE Ratings (Pty) Ltd

TERTIARY

4. DIVERSIFIED RETAILERS

CYCLICAL SERVICES 1. SHOPPING CENTRES 2017 Canal Walk Shopping Centre Sandton City Shopping Centre Victoria & Alfred Waterfront

2017 Shoprite Holdings Limited Woolworths Holdings Limited Pick ‘n Pay Holdings Massmart Holdings Limited Clicks Group Limited

RESULTS 2016 Woolworths Holdings Limited Shoprite Holdings Limited Massmart Holdings Limited Pick n Pay Stores Limited Clicks Group Limited

5. RETAIL â&#x20AC;&#x201C; SOFT GOODS 2017 Truworths International Limited TFG Limited Mr Price Group Limited Rex Trueform Clothing Company Limited

8. GAMING AND LEISURE 2017 Sun International Limited Tsogo Sun Group Phumelela Gaming & Leisure Limited Peermont Global (Pty) Ltd Gold Circle (Pty) Ltd

2016 Sun International Limited Tsogo Sun Group Phumelela Gaming & Leisure Limited Peermont Global (Pty) Ltd Gold Circle (Pty) Ltd

2016 Mr Price Group Limited Edcon Holdings (Pty) Ltd TFG Limited Truworths International Limited Rex Trueform Clothing Company Ltd

6. FURNITURE RETAILERS 2017 Lewis Group Limited OK Furniture House & Home Furniture SA

2016 JDG Trading (Pty) Ltd Lewis Group Limited OK Furniture House & Home Furniture SA

7. SPORT APPAREL 2017 Puma Sports Distribution (Pty) Ltd Nike South Africa (Pty) Ltd Hi-Tec Sports Distributors (Pty) Ltd New Balance SA (Pty) Ltd

2016

Adidas SA (Pty) Ltd Hi-Tec Sports Distributors (Pty) Ltd Reebok South Africa (Pty) Ltd

eNCA (Pty) Ltd African Media Entertainment Limited Primedia (Pty) Ltd

2016 MultiChoice South Africa (Pty) Ltd outh African Broadcasting Corporation Limited S (SABC) eNCA (Pty) Ltd African Media Entertainment Limited Primedia (Pty) Ltd

12. MEDIA GROUPS 2017

9. HOTELS 2017 Tsogo Sun Hotels City Lodge Hotels Limited

Naspers Limited Kagiso Tiso Holdings (Pty) Ltd Caxton & CTP Publishers & Printers Limited Primedia (Pty) Ltd

Legacy Hotels and Resorts (Pty) Ltd Peermont Hotels & Resorts

2016 Naspers Limited

2016 Tsogo Sun Hotels City Lodge Hotels Limited Legacy Hotels and Resorts (Pty) Ltd Peermont Hotels & Resorts

10. TRAVEL AND TOURISM 2017 Flight Centre SA (Pty) Ltd HRG Rennies Travel (Pty) Ltd

Caxton & CTP Publishers & Printers Ltd Kagiso Media Limited Times Media Group Limited Primedia (Pty) Ltd

13. MEDIA AGENCIES 2017 The MediaShop (Pty) Ltd Omnicom Media Group (Pty) Ltd) Nota Bene South Africa

Travel with Flair (Pty) Ltd Thompsons Corporate Travel

2016 The MediaShop (Pty) Ltd

2016

Media Edge CIA (Pty) Ltd

Flight Centre SA (Pty) Ltd

Omnicom Media Group SA (Pty) Ltd

HRG Rennies Travel (Pty) Ltd

Initiative Media (Pty) Ltd

Travel with Flair (Pty) Ltd

Nota Bene South Africa

Thompsons Corporate Travel Tourvest Holdings (Pty) Ltd

Puma Sports Distributors (Pty) Ltd Nike South Africa (Pty) Ltd

South African Broadcasting Corporation Limited (SABC)

11. BROADCASTING CONTRACTORS

14. BRANDING AND DESIGN AGENCIES 2017 EXP SA

2017

Grid Worldwide Branding & Design (Pty) Ltd

MultiChoice South Africa (Pty) Ltd

The Brand Union (Pty) Ltd Top500 9th Edition 155

The Switch Design Company SA (Pty) Ltd

2016

Plus 94 Research (Pty) Ltd

Thirty Four Degrees South Marketing (Pty) Ltd

Cliffe Dekker Hofmeyr Inc

Ipsos (Pty) Ltd

Bowman Gilfillan Incorporated

Citizen Surveys (Pty) Ltd

2016 EXP SA The Switch Group (Pty) Ltd The Brand Union (Pty) Ltd Thirty Four Degrees South Marketing (Pty) Ltd Grid Worldwide Branding & Design (Pty) Ltd

15. ADVERTISING 2017

Adams & Adams Werksmans Incorporated

2016

Webber Wentzel

AC Nielsen Marketing and Media (Pty) Ltd

18. EXHIBITION AND CONFERENCE FACILITIES 2017 Cape Town International Convention Centre

TNS Research Surveys (Pty) Ltd Citizen Surveys (Pty) Ltd Plus 94 Research (Pty) Ltd Ipsos (Pty) Ltd

Ogilvy & Mather South Africa

The Ticketpro Dome

TBWA South Africa (Pty) Ltd

Sandton Convention Centre

21. R ECRUITMENT GROUPS

King James Advertising Cape Town (Pty) Ltd

ICC Durban (Pty) Ltd

2017

FCB South Africa (Pty) Ltd

Gallagher Convention Centre (Pty) Ltd

Adcorp Holdings Limited

Saatchi & Saatchi (Pty) Ltd

2016

ADvTECH Ltd

2016 Cape Town International Convention Centre (Pty)

Workforce Holdings Limited CSG Holdings Limited Primeserv Group Limited

Ogilvy & Mather South Africa

Ltd (CTICC)

TBWA South Africa (Pty) Ltd

The Ticketpro Dome

King James Advertising Cape Town (Pty) Ltd

ICC Durban (Pty) Ltd

The Jupiter Drawing Room Cape Town (Pty) Ltd

Gallagher Convention Centre (Pty) Ltd

Saatchi & Saatchi (Pty) Ltd

Sandton Convention Centre

CSG Holdings Limited

19. BUSINESS PROCESS OUTSOURCING

The Workforce Holdings Limited

16. FOOD SERVICES 2017 Bidfood (Pty) Ltd Compass Group Southern Africa (Pty) Ltd Feedem Group (Pty) Ltd RoyalMnandi Food Service Solutions (Pty) Ltd Air Chefs SOC Limited

2017 Innovation Group (Pty) Ltd Syntell (Pty) Ltd Aegis BPO Holdings South Africa (Pty) Ltd Digicall Solutions (Pty) Ltd Global Telesales (Pty) Ltd

2016 Bidvest Food Services (Pty) Ltd

2016

Compass Group Southern Africa (Pty) Ltd

Innovation Group (Pty) Ltd

Feedem Pitseng (Pty) Ltd

Syntel (Pty) Ltd

Air Chefs SOC Limited

Aegis Outsourcing South Africa (Pty) Ltd

RoyalMnandi Food Service Solutions (Pty) Ltd

Global Telesales (Pty) Ltd Direct Channel Holdings (Pty) Ltd

17. LEGAL SERVICES 2017

Bowmans Cliffe Dekker Hofmeyr Inc Adams & Adams Attorneys Werksmans Incorporated Webber Wentzel

156 Top500 9th Edition

20. RESEARCH CONSULTANTS

2016 Adcorp Holdings Limited ADvTECH Ltd Cozens Recruitment Services (Pty) Ltd

22. WASTE MANAGEMENT 2017 Enviroserv Waste Management (Pty) Ltd Interwaste Holdings Limited The Waste Group (Pty) Ltd

2016 Enviroserv Waste Management (Pty) Ltd Interwaste Holdings Limited The Waste Group (Pty) Ltd

23. CORPORATE SECURITY SERVICES 2017

Kantar TNS

Fidelity ADT Security Group (Pty) Ltd Bidvest Protea Coin Group (Pty) Ltd G4S Secure Solutions SA (Pty) Ltd Excellerate Security Services (Pty) Ltd

AC Nielsen Marketing and Media (Pty) Ltd

Stallion Security (Pty) Ltd

2017

RESULTS 2016 Fidelity Security Group (Pty) Ltd Bidvest Protea Coin Group (Pty) Ltd Enforce Security Solutions (Pty) Ltd G4S Secure Solutions SA (Pty) Ltd Stallion Security (Pty) Ltd

24. HYGIENE SERVICES 2017 Bidvest Steiner Sanitech Rentokil Initial (Pty) Ltd

2016

27. FLEET MANAGEMENT & VECHICLE TRACKING 2017

30. ROAD FREIGHT 2017 Imperial Retail Logistics (Pty) Ltd

Avis Fleet Services

Super Group Holdings (Pty) Ltd

FleetAfrica (Pty) Ltd

OneLogix Group Limited

Mix Telematics Limited

Value Logistics Limited

Altech Netstar (Pty) Ltd

Cargo Carriers Limited

2016

Eqstra Holdings Limited

Imperial Logistics

Fleet Africa (Pty) Ltd

Super Group Holdings (Pty) Ltd

MiX Telematics Limited

OneLogix Group Limited

Altech Netstar (Pty) Ltd

Value Logistics Limited

Avis Fleet Services

Cargo Carriers Limited

28. FREIGHT FORWARDING

31. SHIPPING

Servest Hygiene (Pty) Ltd Sanitech Bidvest Steiner Rentokil Initial (Pty) Ltd

25. AIRLINES 2017 Comair Limited

2017 Bidvest Panalpina Logistics Hellmann Worldwide Logistics (Pty) Ltd Sebenza Forwarding & Shipping (Pty) Ltd Kintetsu World Express South Africa (Pty) Ltd Kuehne & Nagel (Pty) Ltd

Mango Airlines SOC Limited SA Airlink (Pty) Ltd

2016

2016 Bidvest Panalpina Logistics Hellmann Worldwide Logistics (Pty) Ltd

2017 Toll Global Forwarding SA (Pty) Ltd Mediterranean Shipping Company (Pty) Ltd MOL South Africa (Pty) Ltd “K” Line Shipping South Africa (Pty) Ltd

2016 Grindrod Limited Toll Global Forwarding (SA) (Pty) Ltd MOL South Africa (Pty) Ltd Mediterranean Shipping Company

South African Airways (SAA)

Kintetsu World Express South Africa (Pty) Ltd

Comair Limited

Kuehne & Nagel (Pty) Ltd

Mango Airlines SOC Limited

Clear Freight (Pty) Ltd

“K” Line Shipping South Africa (Pty) Ltd

29. COURIER SERVICES

NON-CYCLICAL SERVICES 1. MEDICAL AID SCHEMES

SA Express Airways SOC (Pty) Ltd SA Airlink (Pty) Ltd

26. CAR HIRE 2017

2017

(Pty) Ltd

DHL Express

2017

Skynet South Africa (Pty) Ltd

Discovery Health Medical Scheme

Avis Rent a Car & Budget Rent a Car

Dawn Wing a Division of DPD Laser Express

Bonitas Medical Fund

Europcar Southern Africa

Logistics (Pty) Ltd

Bestmed Medical Scheme

First Car Rental

Aramex South Africa (Pty) Ltd

Fedhealth Medical Scheme

Dollar Thrifty Car Rental

Globeflight Worldwide Express SA (Pty) Ltd

Medihelp Medical Scheme

2016

Bidvest Car Rental (Pty) Ltd

2016

Rent a Car division Barloworld South Africa (Pty) Ltd t/a Avis Rent a Car & Budget Rent a Car Dollar Thrifty Car Rental Europcar First Car Rental Hertz Car Hire

Skynet South Africa (Pty) Ltd DHL Worldwide Express Globeflight Worldwide Express SA (Pty) Ltd CourierIT SA (Pty) Ltd Aramex South Africa (Pty) Ltd

Discovery Health Medical Scheme Bonitas Medical Fund Bestmed Medical Scheme Fedhealth Medical Scheme Medihelp Medical Scheme

Top500 9th Edition 157

2. MEDICAL AID ADMINISTRATORS 2017

5. TELECOMS (WIRELESS) 2017 Vodacom Group Limited

Discovery Health (Pty) Ltd

MTN Group Limited

Metropolitan Health (Pty) Ltd

Cell C (Pty) Ltd

Medscheme Holdings (Pty) Ltd Sechaba Medical Solutions (Pty) Ltd

2016 Discovery Health (Pty) Ltd Metropolitan Health (Pty) Ltd Medscheme Holdings (Pty) Ltd Sechaba Medical Solutions (Pty) Ltd Allcare Administrators (Pty) Ltd

3. HOSPITAL MANAGEMENT

2. SHORT-TERM INSURANCE 2017 Santam Limited Mutual & Federal Insurance Company Limited AIG South Africa Limited

2016

Rand Merchant Insurance Holdings Limited

Vodacom Group Limited

Outsurance

MTN Group Limited Cell C (Pty) Ltd

UTILITIES 1. WATER 2017 Rand Water Johannesburg Water SOC Limited

2016 Santam Limited Mutual & Federal Insurance Company Ltd AIG South Africa Limited Outsurance Zurich Insurance Company South Africa Ltd

Umgeni Water

3. LIFE INSURANCE

Netcare Limited

Mhlathuze Water

2017

Life Healthcare Group Holdings Limited

Sedibeng Water

Liberty Group Limited

2017

Sanlam Limited

Mediclinic Southern Africa Limited

Discovery Life Limited

Melomed Hospital Holdings Limited

2016

Clinix Health Group (Pty) Ltd

Rand Water

MMI Holdings Limited

Johannesburg Water SOC Limited

Clientèle Life Assurance Company Limited

2016

Umgeni Water

Mediclinic Southern Africa Limited

Mhlathuze Water

2016

Netcare Limited

Sedibeng Water

Liberty Holdings Limited

Life Healthcare Group Holdings Limited Melomed Hospital Holdings Limited Clinix Health Group (Pty) Ltd

4. FOOD RETAILERS

Sanlam Limited

FINANCIAL 1. BANKS

2017 FirstRand Limited

2017

The Standard Bank of South Africa Limited

Shoprite Holdings Limited

Nedbank Group Limited

Woolworths Holdings Limited

Absa Bank LImited

Spar Group Limited

Capitec Bank Limited

Pick ‘n Pay Stores Limited

2016 2016

The Standard Bank of South Africa

Woolworths Holdings Limited

Limited

Shoprite Holdings Limited

Nedbank Group Limited

Spar Group Limited

Absa Bank Limited

Pick n Pay Stores Limited

FirstRand Limited Capitec Bank Limited

158 Top500 9th Edition

Old Mutual Life Assurance Company South Africa Limited MMI Holdings Limited Discovery Life Limited

4. INVESTMENT HOLDINGS COMPANIES 2017

Remgro Limited Hosken Consolidated Investments Limited Royal Bafokeng Holdings (Pty) Ltd African Equity Empowerment Investments Limited Brimstone Investment Corporation Limited

2016

Remgro Limited Hosken Consolidated Investments Ltd Royal Bafokeng Holdings (Pty) Ltd African Equity Empowerment Investments Limited Brimstone Investment Corporation Limited

RESULTS

5. INVESTMENT SERVICES

8. ASSET MANAGEMENT

2017

Purple Group Limited

Old Mutual Investment Group (South Africa) (Pty) Ltd Coronation Fund Managers Limited Investec Limited Stanlib Wealth Management Limited Allan Gray (Pty) Ltd

2016

PSG Group Limited

Old Mutual Investment Group (South Africa) (Pty) Ltd

PSG Group Limited JSE Limited Sasfin Holdings Limited Cadiz Holdings Limited

JSE Limited Sasfin Holdings Limited Purple Group Limited Cadiz Holdings Limited

6. REAL ESTATE HOLDINGS & DEVELOPMENT 2017

PSG Group Limited Coronation Fund Managers Ltd Peregrine Financial Services Holdings Limited Prescient Limited

9. ACCOUNTING AND CONSULTING PWC Inc

Vukile Property Fund Limited

Deloitte & Touche (Pty) Ltd

Pareto Limited

Grant Thornton PS Advisory (Pty) Ltd

Hyprop Investments Limited

SizweNtsalubaGobodo Advisory Services (Pty) Ltd

Vukile Property Fund Limited Pareto Limited Hyprop Investment Limited

7. AUCTION HOUSES 2017 Stephan Welz & Co ClareMart Auctioneers (Pty) Ltd Strauss & CO Aucor Sandton (Pty) Ltd

2016

ClareMart Auctioneers (Pty) Ltd Strauss & Co Aucor Sandton (Pty) Ltd Stephan Welz & Co

Mustek Limited Dell Computer (Pty) Ltd

2016 Mustek Limited Dell Computer (Pty) Ltd IBM South Africa (Pty) Ltd Sahara Computers (Pty) Ltd

Redefine Properties Limited

Alviva Holdings Limited

Hewlett-Packard South Africa (Pty) Ltd

2017

Growthpoint Properties Limited

2017

Sahara Computers (Pty) Ltd

Growthpoint Properties Limited

2016

INFORMATION TECHNOLOGY 1. COMPUTER HARDWARE

Hewlett-Packard South Africa (Pty) Ltd

2. TELECOMS (EQUIPMENT) 2017 Altech Alcom Radio Distributors (Pty) Ltd Siemens SA (Pty) Ltd Ericsson South Africa (Pty) Ltd

2016 Altech Alcom Radio Distributors (Pty) Ltd

2016 PricewaterhouseCoopers South Africa Deloitte Ernst & Young Advisory (Pty) Ltd Grant Thornton THL Consulting (Pty)

10. SPECIALITY FINANCE

2017

Siemens SA (Pty) Ltd Ericsson South Africa (Pty) Ltd Tellumat (Pty) Ltd

3. IT COMPONENTS DISTRIBUTION 2017 Pinnacle Micro (Pty) Ltd

Zeder Investments Limited Grand Parade Investments Limited Transaction Capital Limited Deneb Investments Corporation Limited Trustco Group International (Pty) Ltd

Tarsus Distribution (Pty) Ltd

2016

Pinnacle Holdings Limited

Zeder Investments Limited Deneb Investment Corporation Limited Grand Parade Investments Limited Trustco Group Holdings Limited Transaction Capital

AxizWorkgroup (Pty) Ltd Rectron (Pty) Ltd

2016 Advanced Channel Technologies Rectron (Pty) Ltd Incredible Connection AxizWorkgroup (Pty) Ltd

Top500 9th Edition 159

4. OFFICE AUTOMATION 2017 Nashua Limited Kyocera Document Solutions South Africa (Pty) Ltd Bytes Document Solutions (Pty) Ltd Samsung NAC Ricoh South Africa (Pty) Ltd

2016 Nashua Limited Itec Group SA (Pty) Ltd Bytes Document Solutions (Pty) Ltd Samsung NAC yocera Document Solutions South Africa (Pty) K Ltd

5. INFORMATION TECHNOLOGY GROUPS 2017 EOH Holdings Limited Altron TMT SA Group (Pty) Ltd Dimension Data (Pty) Ltd Alviva Holdings Limited Datatec Limited

2016 EOH Holdings Limited Dimension Data (Pty) Ltd Bytes Technology Group South Africa (Pty) Ltd Business Connexion (Pty) Ltd Datatec Limited

6. T ELECOMMUNICATIONS SOLUTIONS 2017 Vox Telecommunications (Pty) Ltd Jasco Electronics Holdings Limited Huge Telecom (Pty) Ltd TeleMaster Holdings Limited

2016 Jasco Electronics Holdings Limited Vox Telecommunications (Pty) Ltd Huge Telecom (Pty) Ltd TeleMaster Holdings Limited Tellumat (Pty) Ltd

160 Top500 9th Edition

7. BUSINESS SOFTWARE SOLUTIONS 2017 Microsoft SA (Pty) Ltd T-Systems SA (Pty) Ltd

2. BUSINESS SCHOOLS 2017 Gordon Institute of Business Science (GIBS) Graduate School of Business – University of Cape Town (GSB)

SAS Institute (Pty) Ltd

Wits Business School – University of the Witwatersrand

2016

UNISA Graduate School of Business Leadership (SBL)

Microsoft SA (Pty) Ltd

University of Stellenbosch Business School (USB)

ENRA Technologies cc T-Systems SA (Pty) Ltd SAS Institute (Pty) Ltd

2016 Gordon Institute of Business Science (GIBS)

SAP South Africa (Pty) Ltd

Graduate School of Business – University of Cape Town (GSB)

8. SOC SERVICES

its Business School – University of the W Witwatersrand

2017 Transnet SOC Limited

UNISA Graduate School of Business Leadership (SBL)

Telkom SA SOC Limited

University of Stellenbosch Business School (USB)

Airports Company South Africa Air Traffic and Navigation Services Company Limited Sentech Limited

2016 Eskom Holdings Limited Airports Company South Africa (ACSA) Transnet SOC Limited Air Traffic and Navigation Services SOC Limited Telkom SA SOC Limited

EDUCATION 1. UNIVERSITIES 2017 University of South Africa (UNISA) University of Stellenbosch University of Cape Town (UCT) University of KwaZulu-Natal University of Witwatersrand

2016 University of South Africa (UNISA) University of Stellenbosch University of Cape Town (UCT) University of KwaZulu-Natal University of Witwatersrand

Global gold and copper footprint 1.5Moz within three years â&#x20AC;&#x201C; at less than US$950 an ounce

Leveraging 60+ years of gold mining experience

To benefit all stakeholders

1901_17_Harmony Top 500 Advert_ES1.indd 1

www.harmony.co.za

2017/07/24 12:13 PM

AZ LISTING

S O U T H A F R I C A’ S T O P 5 0 0 C O M PA N I E S

Fo r f u r t h e r i n f o r m a t i o n r e g a r d i n g t h e c o m p a n i e s t h a t a p p e a r i n t h i s l i s t i n g , p l e a s e c o n t a c t S a n d r a B o c k a t To p c o M e d i a - Te l : 0 8 6 0 0 0 9 5 9 0 e m a i l : s a n d r a . b o c k @ t o p c o . c o . z a

Alexkor (SOC) Limited Diamond Mining

Absa Bank Limited Banks

(+27 11) 350 4000

AC Nielsen Marketing and Media (Pty) Ltd

Research Consultants

(+27 11) 495 3000

ACTOM (Pty) Ltd Electrical Equipment

(+27 11) 820 5111

Adams & Adams Attorneys Legal Services

Adcock Ingram Limited Pharmaceuticals

Recruitment Groups

AECI Limited

Specialised Chemicals

AECOM South Africa (Pty) Ltd

(+27 12) 421 3500

Aegis BPO Holdings South Africa (Pty) Ltd

(+27 11) 807 7551

Altron Group

Aveng Africa Limited Construction Groups

AVI Limited

Food Processors

(+27 11) 207 5000 (+27 11) 645 3600

(+27 11) 779 2800 (+27 11) 502 1300

Avis Rent a Car & Budget Rent a Car Car Hire

(+27 11) 923 3500

Avis Fleet Services Fleet Management & Vehicle Tracking

Altech Netstar (Pty) Ltd

Electronic Products

(+27 11) 806 8700

Engineering Groups

Telecom (Equipment)

(+27 11) 635 0000

(+27 11) 676 8000

(+27 21) 415 2301

Altech Alcom Radio Distributors (Pty) Ltd

(+27 12) 432 6000

(+27 11) 244 5300

ADvTECH Ltd

Asset Management

Fleet Management & Vehicle Tracking

Adcorp Holdings Limited Recruitment Groups

Allan Gray (Pty) Ltd

(+27 11) 788 8809

(+27 11) 552 9000

Avon Justine South Africa (Pty) Ltd Beauty Products

Avroy Shlain (Pty) Ltd Beauty Products

(+27 10) 205 5000 (+27 86) 011 4182

Altron TMT SA Group (Pty) Ltd

AxizWorkgroup (Pty) Ltd

Alviva Holdings Limited

Information Technology Groups (+27 11) 645 3600 Computer Hardware/Information Technology Groups (+27 11) 237 7031

Amawandle Hake (Pty) Ltd Fishing

Amka Products (Pty) Ltd Personal Products

(+27 21) 410 1400 (+27 12) 674 0400

IT Component Distributors

(+27 11) 237 7000

Barloworld Equipment

Industrial Products & Equipment (+27 11) 301 4000

Barloworld Limited Diversified Industrial

(+27 11) 445 1000

Anglo American Platinum Limited

Basil Read Holdings Limited

Anglo American South Africa Limited

Bell Equipment Company SA (Pty) Ltd

Anglo Operations Limited

Bestmed Medical Scheme

AngloGold Ashanti Limited

Bidfood (Pty) Ltd

(+27 86) 123 7234

AQRate (Pty) Ltd

Bidvest Car Rental (Pty) Ltd

(+27 11) 490 0400

Annique Health and Beauty (Pty) Ltd

Bidvest McCarthy

Aramex South Africa (Pty) Ltd

Bidvest Panalpina Logistics

ArcelorMittal South Africa Limited

Bidvest Protea Coin Group (Pty) Ltd

AfriSam (South Africa) (Pty) Ltd

Argent Industrial Limited

Bidvest Steiner

AIG South Africa Limited

Ascendis Health Limited

Bigen Africa Services (Pty) Ltd

Business Process Outsourcing

(+27 11) 461 9000

AEL Mining Services Mining Services

(+27 11) 606 0000

African Equity Empowerment Investments Limited Investment Holding Companies

(+27 21) 427 1400

African Media Entertainment Limited Broadcasting Contractors

African Oxygen Limited Gas/Specialised Chemical

African Rainbow Minerals Limited Diversified Mining

(+27 11) 779 1300

Afrimat Limited

Building & Construction Materials/Cement Cement

Short Term Insurance

Air Chefs SOC Limited Food Services

Air Liquide (Pty) Ltd Gas

(+27 21) 917 8840 (+27 11) 670 5500 (+27 11) 551 8000 (+27 11) 978 1881 (+27 87) 288 1100

Air Products South Africa (Pty) Ltd Gas

(+27 11) 570 5000

Air Traffic and Navigation Services Company Limited SOC Services

(+27 11) 607 1000

Airports Company South Africa SOC Services

162 Top500 9th Edition

(+27 11) 723 1400

Platinum

Diversified Mining Coal

Gold

BEE Verification Agencies Beauty Products

Courier Services Steel

Diversified Industrials Pharmaceuticals

(+27 11) 373 6111 (+27 11) 683 9111 (+27 11) 723 1400 (+27 11) 637 6000 (+27 21) 914 9451 (+27 12) 345 9800 (+27 11) 457 3000 (+27 16) 889 9111 (+27 31) 584 7702 (+27 11) 256 3700

Construction Groups Heavy Machinery

Medical Aid Schemes Food Services Car Hire

Automobiles

Freight Forwarding

Corporate Security Services

Hygiene Services

Consulting Engineers

Aspen Pharmacare Holdings Limited

Bonitas Medical Fund

Assore Limited

Bosal Africa (Pty) Ltd

Pharmaceuticals

(+27 31) 580 8600

Diversified Mining/ Metals & Minerals (+27 11) 770 6800

Astral Operations Limited Farming

Aucor Sandton (Pty) Ltd Auction Houses

(+27 12) 667 5468 (+27 11) 237 4444

Aurecon South Africa (Pty) Ltd Engineering Groups

(+27 12) 427 2000

Medical Aid Schemes

Automotive Components

Bowler Metcalf Ltd Packaging

Bowmans

Legal Services

(+27 11) 418 6300 (+27 35) 907 9431 (+27 86) 000 2378 (+27 11) 553 9600 (+27 11) 398 0000 (+27 11) 384 6900 (+27 21) 550 6500

(+27 12) 665 8000 (+27 11) 923 9490 (+27 12) 842 8700 (+27 86) 000 2108 (+27 12) 391 1000 (+27 21) 704 2223 (+27 11) 669 9000

BP Southern Africa (Pty) Ltd Retail & Commercial Fuels

(+27 11) 911 4284

A-Z LISTING

Brimstone Investment Corporation Limited Investment Holding Companies

BSI Steel Limited Steel

(+27 21) 683 1444 (+27 11) 861 7600

Builders Warehouse, Builders Express, Builders Trade Depot and Builders Superstores Builders Merchants

(+27 11) 797 0400

Bytes Document Solutions (Pty) Ltd Office Automation

(+27 11) 928 9111

Investment Services

(+27 21) 657 8300 (+27 21) 529 9600

Cape Town International Convention Centre (Pty) Ltd

Exhibition & Conference Facilities (+27 21) 410 5000

Capitec Bank Limited Banks

Cargo Carriers Limited Road Freight

(+27 21) 809 5900

(+27 11) 874 0000

Consolidated Infrastructure Group Limited

Electrical Equipment

(+27 11) 805 4281

Coronation Fund Managers Limited Asset Management

(+27 21) 680 2000

Country Bird Holdings Limited Farming

(+27 11) 447 6044

CSE & Northmec Heavy Machinery

(+27 11) 922 2000 (+27 12) 362 9778

(+27 11) 485 8700 (+27 11) 248 1500

Easigas (Pty) Ltd Gas

(+27 11) 389 7700

Eastgate Shopping Centre Shopping Centres

(+27 11) 479 6000

ELB Group Limited Heavy Machinery

(+27 11) 306 0700

Empowerdex (Pty) Ltd BEE Verification Agencies

(+27 11) 883 8548

EmpowerLogic (Pty) Ltd BEE Verification Agencies

(+27 86) 111 4003

eNCA (Pty) Ltd

Broadcasting Contractors

(+27 11) 537 9300

Engen Petroleum Limited Retail & Commercial Fuels

(+27 21) 403 4911

EnviroServ Waste Management (Pty) Ltd

Datatec Limited

Information Technology Groups

Waste Management (+27 11) 233 1221

Dawn Wing a division of DPD Laser Express Logistics (Pty) Ltd Courier Services

(+27 11) 912 4800

Defy Appliances (Pty) Ltd Household Appliances

(+27 31) 460 9711

Dekro Paints (Pty) Ltd

Cashbuild South Africa (Pty) Ltd Builders Merchants

Packaging

Recruitment Groups

Canal Walk Shopping Centre Shopping Centres

(+27 11) 209 2400

Consol Glass (Pty) Ltd

CSG Holdings Limited

Cadiz Holdings Limited

Food Services

Paint Manufacturers

(+27 21) 903 3131

Dell Computer (Pty) Ltd Computer Hardware

(+27 11) 709 7700

(+27 11) 456 5660

enX Group Limited

Industrial Products & Equipment (+27 11) 222 8300

EOH Holdings Limited

Information Technology Groups

(+27 11) 607 8100

Eqstra Holdings Limited

Passenger & Commercial Vehicles (+27 11) 966 2000

Deloitte & Touche (Pty) Ltd

Ericsson South Africa (Pty) Ltd

Caxton & CTP Publishers & Printers Limited

Deneb Investments Limited

Europcar Southern Africa

CBi-electric: low voltage

Aerospace & Defence

Media Groups

Electrical Equipment

Denel Land Systems

(+27 11) 928 2000

Denel SOC Limited

Telecommunications (Wireless) (+27 84) 174 4000 Research Consultants

(+27 21) 447 4484

City Lodge Hotels Limited Hotels

(+27 11) 557 2600

(+27 11) 806 5000

Specialised Finance

(+27 21) 929 6200

Cell C (Pty) Ltd

Citizen Surveys (Pty) Ltd

Accounting & Consulting

(+27 21) 486 1400 (+27 11) 747 3300

Aerospace & Defence

(+27 12) 671 2700

DGB (Pty) Ltd

Distillers & Vintners

(+27 11) 653 1000

Digicall Solutions (Pty) Ltd Business Process Outsourcing

(+27 10) 211 5000

ClareMart Auction Group (Pty) Ltd

DHL Express

Clicks Group Limited

Dimension Data (Pty) Ltd

Auction Houses

Diversified Retailers

(+27 21) 425 8822 (+27 21) 460 1911

Clientèle Life Assurance Company Limited Life Insurance

(+27 11) 320 3000

Cliffe Dekker Hofmeyr Inc Legal Services

(+27 11) 562 1000

Clinix Health Group (Pty) Ltd Hospital Management

Clover SA (Pty) Ltd Dairy Products

(+27 11) 429 1000 (+27 11) 471 1400

Comair Limited Airlines

(+27 11) 921 3666

Information Technology Groups

(+27 11) 575 0000

Discovery Health (Pty) Ltd Medical Aid Administrators

Discovery Life Limited Life Insurance

(+27 11) 529 2888 (+27 86) 000 5433

Discovery Health Medical Scheme Medical aid schemes

Distell Group Limited Distillers & Vintners

(+27 86) 099 8877 (+27 21) 809 7000

(+27 86) 011 4146

Distribution and Warehousing Network Limited (DAWN)

(+27 11) 921 0111

Dollar Thrifty Car Rental

Colgate-Palmolive (Pty) Ltd Personal Products

Courier Services

Compass Group Southern Africa (Pty) Ltd

Builders Merchants Car Hire

DRDGOLD Limited Gold

Telecom (Equipment)

(+27 11) 844 2000

Car Hire

(+27 11) 479 4000

Excellerate Security Services Corporate Security Services

(+27 31) 573 7600

EXP SA

Branding & Design Agencies

(+27 11) 549 5340

Exxaro Coal (Pty) Ltd Coal

(+27 12) 307 5000

Exxaro Resources Limited Diversified Mining

(+27 12) 307 5000

Fair Cape Dairies (Pty) Ltd Dairy Products

(+27 21) 557 7600

Faurecia Exhaust Systems SA (Pty) Ltd Automotive Components

(+27 41) 451 0936

FAW Vehicle Manufacturers SA (Pty) Ltd Commercial Vehicles

(+27 87) 702 0800

FCB South Africa (Pty) Ltd Advertising

(+27 11) 566 6000

Fedhealth Medical Scheme Medical Aid Schemes

(+27 11) 671 2000

Feedem Group (Pty) Ltd Food Services

(+27 11) 439 2300

(+27 11) 323 0000

Feltex Automotive

(+27 11) 230 5201

Fiat Chrysler South Africa (Pty) Ltd

Automotive Components Automobiles

(+27 31) 460 4200 (+27 10) 252 5000

(+27 11) 470 2600

Top500 9th Edition 163

Fidelity ADT Security Group (Pty) Ltd Corporate Security Services

First Car Rental Car Hire

FirstRand Limited Banks

Harmony Gold Mining Company Limited

Innovation Group (Pty) Ltd

(+27 31) 335 8400

Heineken South Africa (Pty) Ltd

Waste Management

(+27 11) 282 1808

Hellmann Worldwide Logistics (Pty) Ltd

(+27 11) 763 9000

FleetAfrica (Pty) Ltd Fleet Management & Vehicle Tracking

(+27 11) 523 4300

Flight Centre SA (Pty) Ltd Travel & Tourism

Foskor (Pty) Ltd Metals & Minerals

(+27 11) 778 1770 (+27 11) 347 0600

(+27 12) 431 3700

Gallagher Convention Centre (Pty) Ltd

Exhibition & Conference Facilities (+27 11) 266 3000

GIBB (Pty) Ltd

Consulting Engineers

Freight Forwarding

(+27 11) 411 2000 (+27 10) 216 1000 (+27 11) 928 7000

Hewlett-Packard South Africa (Pty) Ltd Computer Hardware

HHO Africa

Consulting Engineers

(+27 21) 469 9100

(+27 21) 415 3550

Gold Fields Limited Gold

(+27 11) 562 9700

Gordon Institute of Business Science (GIBS) Business Schools

(+27 11) 771 4000

Graduate School of Business – University of Cape Town (GSB) Business Schools

(+27 21) 406 1922

Grand Parade Investments Limited Specialised Finance

(+27 21) 421 7771

Grant Thornton PS Advisory (Pty) Ltd Accounting & Consulting

(+27 10) 590 7200

Grid Worldwide Branding & Design (Pty) Ltd Branding & Design Agencies 4600

Group Five Limited Construction Groups

(+27 11) 502

(+27 10) 060 1555

Growthpoint Properties Limited Real Estate Holdings & Development

GWK Limited Agriculture

(+27 11) 944 6000 (+27 53) 298 8200

Beverages – Breweries

(+27 11) 746 4244

Hans Merensky Holdings (Pty) Ltd Forestry

164 Top500 9th Edition

(+27 11) 381 5750

(+27 11) 709 7800

Hi-Tec Sports Distributors (Pty) Ltd

Italtile Limited

Home of Living Brands (Pty) Ltd

Iveco South Africa (Pty) Ltd

Commercial Vehicles

Household Appliances

(+27 11) 809 9111 (+27 21) 506 6900 (+27 11) 267 3300

Fishing

Builders Merchants Commercial Vehicles

(+27 21) 440 7800 (+27 11) 510 9050 (+27 11) 205 3990

HomeChoice (Pty) Limited Direct Response Marketing

Homemark (Pty) Ltd

Direct Response Marketing

Bee Verification Agencies

(+27 21) 680 1000 (+27 11) 444 8800 (+27 11) 880 1630

Hosken Consolidated Investments Limited Investment Holding Companies

Furniture Retailers

(+27 21) 481 7560 (+27 11) 456 7000

Howden Africa Holdings Limited HPC & B

(+27 11) 240 4000

Jasco Electronics Holdings Limited

Telecommunications Solutions (+27 11) 266 1500

Johannesburg Water SOC Limited Water

(+27 11) 688 1400

Johnson & Johnson (Pty) Ltd Personal Products

JSE Limited

Investment Services

(+27 21) 710 4111 (+27 11) 520 7000

HRG Rennies Travel (Pty) Ltd

Komatsu Mining Corporation Southern Africa (Pty) Ltd

Hudaco Trading (Pty) Ltd

“K” Line Shipping South Africa (Pty) Ltd

Personal Products Travel & Tourism

(+27 11) 840 4000 (+27 11) 407 2800

Industrial Products & Equipment (+27 11) 657 5000

Huge Telecom (Pty) Ltd

Telecommunications Solutions (+27 11) 603 6000

Hulamin Operations (Pty) Ltd Steel

(+27 33) 395 6911

Hyprop Investments Limited Real Estate Holdings & Development

(+27 11) 447 0090

Exhibition & Conference Facilities (+27 31) 360 1000 Paint Manufacturers

Iliad Africa Limited Builders Merchants

Media Groups

(+27 11) 034 9200

Kansai Plascon Africa (Pty) Ltd Paint Manufacturers

Kantar TNS

Research Consultants

(+27 11) 549 8000 (+27 11) 778 7500

KAP Industrial Holdings Limited Diversified Industrials

(+27 21) 808 0900

King James Advertising Cape Town (Pty) Ltd Advertising

(+27 21) 469 1500

Kintetsu World Express South Africa (Pty) Ltd

(+27 11) 847 7300

Komatiland Forests (Pty) Ltd

(+27 11) 371 9000 (+27 11) 372 6500

Imperial Retail Logistics (Pty) Ltd Road Freight

(+27 31) 304 1451

Kagiso Tiso Holdings (Pty) Ltd

(+27 11) 861 1000

Imperial Holdings Limited Diversified Industrials

Shipping

(+27 11) 872 4000

Building & Construction Materials (+27 21) 704 7060

ICC Durban (Pty) Ltd ICI Dulux (Pty) Ltd

Mining Services

Kaydav Group Limited

Platinum

Halewood International SA (Pty) Ltd

Ipsos (Pty) Ltd

Hino South Africa (Pty) Ltd

Impala Platinum Holdings Limited

(+27 21) 416 2000

Invicta Holdings Limited

Irvin & Johnson Limited

Engineering Groups

(+27 31) 314 1500

Asset Management

Research Consultants

Gold Circle (Pty) Ltd Gaming & Leisure

Investec Limited

(+27 11) 323 7300

(+27 21) 425 2870

House & Home Furniture SA

(+27 11) 922 2600

(+27 11) 790 5200

Interwaste Holdings Limited

Industrial Products & Equipment (+27 21) 929 4780

Globeflight Worldwide Express SA (Pty) Ltd Courier Services

Business Process Outsourcing

(+27 11) 785 1000

Honeycomb BEE Ratings (Pty) Ltd

Global Telesales (Pty) Ltd Business Process Outsourcing

Beverages – Breweries

Sport Apparel

G4S Secure Solutions SA (Pty) Ltd Corporate Security Services

Gold

(+27 11) 876 7000

Freight Forwarding Forestry

(+27 11) 573 5700 (+27 12) 436 6300

Komatsu Southern Africa (Pty) Ltd Heavy Machinery

(+27 11) 923 1000

Kuehne & Nagel (Pty) Ltd Freight Forwarding

Kumba Iron Ore Limited Metals & Minerals

(+27 11) 574 7000 (+27 12) 683 7111

A-Z LISTING

Kyocera Document Solutions South Africa (Pty) Ltd Office Automation

(+27 11) 540 2600

Cement

(+27 11) 657 0000 (+27 11) 806 6888

Lewis Group Limited Furniture Retailers

Liberty Group Limited Life Insurance

(+27 21) 460 4400 (+27 11) 408 3911

Life Healthcare Group Holdings Limited Hospital Management

(+27 11) 219 9000

Litha Healthcare Group Limited Pharmaceuticals

Lonmin PLC Ltd Platinum

(+27 11) 516 1700 (+27 11) 218 8300

L’Oreal South Africa Holdings (Pty) Ltd Beauty Products

Luxor Paints (Pty) Ltd Paint Manufacturers

(+27 11) 286 0700 (+27 11) 397 6622

(+27 31) 719 7600

Mango Airlines SOC Limited

(+27 86) 101 0217

Massmart Holdings Limited Diversified Retailers

Shipping

Mondi Limited Forestry

Mpact Limited Packaging

Mr Price Group Limited Retail – Soft Goods

MTN Group Limited Telecom (Wireless)

(+27 12) 671 8911 (+27 21) 441 2200 (+27 11) 994 5400 (+27 11) 994 5500 (+27 31) 310 8000 (+27 11) 912 3000

MultiChoice South Africa (Pty) Ltd Broadcasting Contractors

(+27 11) 289 3000

Murray & Roberts Cementation (Pty) Ltd Mining Services

Mustek Limited

Computer Hardware

(+27 11) 201 5000 (+27 11) 237 1000

Breweries

Mahle Behr South Africa (Pty) Ltd Airlines

(+27 11) 654 8000

(+27 11) 517 0000

Mazor Group Limited

Nashua Limited Office Automation

Naspers Limited Media Groups

(+26 461) 320 4999 (+27 11) 232 8000 (+27 21) 406 2121

National Empowerment Rating Agency (Pty) Ltd BEE Verification Agencies

Advertising

(+27 11) 709 6600

OK Furniture

Furniture Retailers

(+27 11) 456 7000

Old Mutual Insure Limited Short Term Insurance

(+27 11) 374 9111

Old Mutual Investment Group (South Africa) (Pty) Ltd Asset Management

(+27 21) 509 5022

Omnicom Media Group (Pty) Ltd Media Agencies

(+27 11) 303 2000

OneLogix Group Limited Road Freight

(+27 11) 396 9040

Oos Vrystaat Kaap Bedryf Bpk Agriculture

(+27 51) 923 4500

Orange River Wine Cellars Co-op Limited Distillers & Vintners

(+27 45) 337 8800

Outsurance

Short Term Insurance

(+27 12) 673 3000

Palabora Copper (Pty) Ltd

Namibia Breweries Limited Beverages

Automotive Components

MMI Holdings Limited

Ogilvy & Mather South Africa

MOL South Africa (Pty) Ltd

Legacy Hotels and Resorts (Pty) Ltd Hotels

Fleet Management & Vehicle Tracking Life Insurance

LafargeHolcim

MiX Telematics Limited

(+27 11) 463 8563

Metals & Minerals

(+27 15) 780 2911

Paramount Advanced Technologies Aerospace & Defence

(+27 11) 086 6800

Pareto Limited

Real Estate Holdings & Development

(+27 11) 258 6800

Parmalat SA (Pty) Ltd Dairy Products

(+27 21) 809 1400

NCP Chlorchem (Pty) Ltd

Peermont Global (Pty) Ltd

Mediclinic Southern Africa Limited

Nedbank Group Limited

Peermont Hotels & Resorts

Medihelp Medical Scheme

Netcare Limited

Petmin Limited

Mediterranean Shipping Company (Pty) Ltd

New Balance SA (Pty) Ltd

Building & Construction Materials (+27 21) 556 1555 Hospital Management Medical Aid Schemes

Shipping

(+27 21) 809 6500 (+27 12) 334 2000

(+27 31) 360 7911

Medscheme Holdings (Pty) Ltd Medical Aid Administrators

(+27 11) 671 2000

Melomed Hospital Holdings Limited Hospital Management

(+27 21) 699 0950

Menlyn Park Shopping Centre Shopping Centres

(+27 12) 471 0600

Merafe Resources Limited Metals & Minerals

(+27 11) 783 4780

Mercedes-Benz South Africa (Pty) Automobiles

(+27 12) 677 1500

Metair Investments Limited Automotive Components

(+27 11) 646 3011

Metropolitan Health (Pty) Ltd Medical Aid Administrators

Mhlathuze Water Water

Microsoft SA (Pty) Ltd Business Software Solutions

(+27 21) 480 4511 (+27 35) 902 1000

(+27 11) 361 8911

Specialised Chemicals Banks

Hospital Management Sport Apparel

(+27 11) 921 3111 (+27 11) 294 4444 (+27 11) 301 0000 (+27 21) 705 6224

Nike South Africa (Pty) Ltd Sport Apparel

(+27 11) 256 0700

Gaming & Leisure

(+27 11) 267 9200

Hotels

(+27 11) 557 0557

Mining Services

(+27 11) 706 1644

Petra Diamonds Southern Africa (Pty) Ltd Diamond Mining

(+27 11) 702 6900

PG Bison

Nissan South Africa (Pty) Ltd

Building & Construction Materials (+27 11) 445 3000

Northam Platinum Limited

Gaming & Leisure

Automobiles Platinum

Nota Bene South Africa Media Agencies

(+27 12) 529 6000 (+27 11) 759 6000 (+27 11) 582 6200

Novartis South Africa (Pty) Ltd Pharmaceuticals

(+27 11) 929 9111

Nu-World Industries (Pty) Ltd Household Appliances

NWK Limited Agriculture

(+27 11) 321 2111 (+27 18) 633 1000

Fishing

(+27 11) 681 1500

Pick n Pay Holdings Diversified Retailers

(+27 21) 658 1000

Pick n Pay Stores Limited Food Retailers

(+27 21) 658 1000

Pinnacle Micro (Pty) Ltd IT Component Distributors

Pioneer Foods (Pty) Ltd Food Processors

(+27 11) 265 3000 (+27 21) 974 4000

Plus 94 Research (Pty) Ltd Research Consultants

Oceana Group Limited

Phumelela Gaming & Leisure Limited

(+27 11) 327 2020

Power Technologies (Pty) Ltd Electrical Equipment (+27 21) 410 1400

(+27 11) 706 7184

Premier Fishing SA (Pty) Ltd Fishing

(+27 21) 427 1400

Top500 9th Edition 165

Premier Foods (Pty) Ltd Food Processors

(+27 11) 565 4300

Pretoria Portland Cement Company Ltd (PPC)

Cement

(+27 21) 550 2100

Primedia (Pty) Ltd

Broadcasting Contractors/ Media Groups

(+27 11) 506 3000

SA Airlink (Pty) Ltd Airlines

SAAB Avitronics

Aerospace & Defence

SizweNtsalubaGobodo Advisory Services (Pty) Ltd (+27 11) 451 7300 (+27 12) 672 8000

Saab Grintek Technologies (Pty) Ltd Electronic Products

(+27 12) 672 8000

Accounting & Consulting

(+27 11) 231 0600

Skynet South Africa (Pty) Ltd Courier Services

(+27 21) 912 6100

SMEC South Africa (Pty) Ltd Consulting Engineers

(+27 12) 481 3800

South32 SA Coal Holdings (Pty) Ltd

Primeserv Group Limited

Saatchi & Saatchi (Pty) Ltd

PSG Group Limited

Sahara Computers (Pty) Ltd

South African Broadcasting Corporation Limited (SABC)

Puma Sports Distributors (Pty) Ltd

Samsung NAC

Sovereign Food Investments Limited

Purple Group Limited

Sandton City Shopping Centre

Recruitment Groups

(+27 11) 691 8000

Investment Services Sports Apparel

Investment Services

PwC Incorporated

Accounting & Consulting

(+27 21) 887 9602 (+27 21) 551 0832 (+27 87) 940 6000 (+27 11) 797 4000

Rand Water Water

RCL Foods (Pty) Ltd Farming

Rectron (Pty) Ltd

IT Component Distributors

(+27 11) 282 8000 (+27 11) 682 0911 (+27 31) 242 8600 (+27 11) 203 1000

Redefine Properties Limited

Real Estate Holdings & Development (+27 11) 283 0000

Remgro Limited

Investment Holding Companies(+27 21) 888 3000

Rentokil Initial (Pty) Ltd Hygiene Services

Reunert Limited Electronic Products

(+27 11) 971 0800

(+27 21) 460 9400 (+27 21) 870 4000 (+27 11) 723 5000

Rockwell Diamonds Incorporated Diamond Mining

Rolfes Holdings Limited Specialised Chemicals

166 Top500 9th Edition

(+27 11) 823 6060

Sanlam Limited

Life Insurance/ Short term Insurance

Santam Limited

Short Term Insurance

SAS Institute (Pty) Ltd Business Software Solutions

Sasfin Holdings Limited Investment Services

Sasol Limited

Gas/Specialised Chemicals

Sasol Mining (Pty) Ltd Coal

Steel

Fishing

Farming

(+27 41) 995 1700

Spar Group Limited Food Retailers

(+27 31) 719 1900

SRK Consulting SA (Pty) Ltd Consulting Engineers

(+27 11) 447 1944

Stallion Security (Pty) Ltd Corporate Security Services

(+27 11) 533 8888

Stanlib Wealth Management Limited Asset Management

(+27 11) 448 6000

Stefanutti Stocks (Pty) Ltd

(+27 21) 915 7000

Stellenbosch Vineyards (Pty) Ltd

Construction Groups

(+27 11) 571 4300

Distillers & Vintners

(+27 21) 881 3870

(+27 11) 407 8111

Stephan Welz & Co

(+27 11) 713 3400

Strauss & Co

(+27 11) 809 7500

Sun International Limited

(+27 11) 441 3111

Super Group Holdings (Pty) Ltd

(+27 17) 610 1111

Syntell (Pty) Ltd

Auction Houses

(+27 11) 880 3125

Auction Houses

(+27 21) 683 6560

Gaming & Leisure

(+27 11) 780 7000

Road freight

(+27 11) 523 4000

Business Process Outsourcing

(+27 11) 582 2500

(+27 11) 842 9000 (+27 21) 468 7900

Sebenza Forwarding & Shipping (Pty) Ltd Freight Forwarding

(+27 11) 714 9111

(+27 21) 947 9111

Sappi Southern Africa Limited Forestry

Broadcasting Contractors

(+27 11) 571 0600

Tarsus Distribution (Pty) Ltd IT Component Distributors

(+27 11) 531 1000

Sechaba Medical Solutions (Pty) Ltd

TATA Automobile Corporation SA (Pty) Ltd

Sedibeng Water

TBWA South Africa (Pty) Ltd

Medical Aid Administrators

Water

Sentech Limited SOC Services

(+27 11) 353 0000 (+27 56) 515 0200 (+27 11) 471 4400

Commercial Vehicles

(+27 11) 255 9802

Advertising

(+27 11) 322 3200

TeleMasters Holdings Limited

Telecommunications Solutions (+27 87) 945 0000

Telkom SA SOC Limited

(+27 11) 874 0634

Shell South Africa (Pty) Ltd

TFG Limited

Shoprite Holdings Limited

Thales South Africa Systems (Pty) Ltd

(+27 11) 530 8000 (+27 11) 530 8000

RoyalMnandi Food Service Solutions (Pty) Ltd Food Services

Exhibition & Conference Facilities (+27 11) 779 0000

(+27 11) 376 9111

Senwes Limited

Royal Bafokeng Platinum Limited Platinum

Sandton Convention Centre

Diversified Mining

(+27 11) 484 0830

Royal Bafokeng Holdings (Pty) Ltd Investment Holding Companies

(+27 11) 217 6000

Sea Harvest Corporation (Pty) Ltd

Ricoh South Africa (Pty) Ltd Office Automation

(+27 31) 539 2786

(+27 11) 517 9000

Rhodes Food Group (Pty) Ltd Food Processors

(+27 11) 542 1000

Scaw Metals Group

Rex Trueform Clothing Company Limited Retail â&#x20AC;&#x201C; Soft Goods

Shopping Centres

(+27 11) 548 6000

(+27 21) 670 4700

Revlon South Africa (Pty) Ltd Beauty Products

Office Automation

Hygiene Servces

Rand Merchant Insurance Holdings Short Term Insurance

Computer Hardware

Sanitech

Limited

Advertising

(+27 12) 001 7160

Agriculture

Retail & Commercial Fuels Diversified Retailers/ Food Retailers

Sibanye Stillwater Gold

Siemens SA (Pty) Ltd

(+27 18) 464 7800 (+27 11) 996 7000

(+27 21) 980 4000 (+27 11) 278 9600

Electronic Products/ Telecom (Equipment) (+27 11) 652 2000

SOC Services

(+27 12) 311 3911

Retail â&#x20AC;&#x201C; Soft Goods

(+27 21) 938 1911

Aerospace & Defence

(+27 11) 313 9001

The Bidvest Group Limited Diversified Industrial

(+27 11) 772 8700

The Brand Union (Pty) Ltd Branding & Design Agencies

(+27 11) 895 9300

The MediaShop (Pty) Ltd Media Agencies

(+27 11) 258 4000

A-Z LISTING

The South African Breweries Limited

University of KwaZulu-Natal

The Standard Bank of South Africa Limited

University of South Africa (UNISA)

The Switch Design Company SA ( Pty) Ltd

Universities

Beverages – Breweries

(+27 11) 881 8111

Banks

(+27 11) 721 9000

Branding & Design Agencies

(+27 11) 706 9370

The Ticketpro Dome

Exhibition & Conference Facilities (+27 11) 549 8300

The Waste Group (Pty) Ltd Waste Management

(+27 12) 562 0330

Thirty Four Degrees South Marketing (Pty) Ltd Branding & Design Agencies

(+27 21) 480 3400

Thompsons Corporate Travel Travel & Tourism

(+27 11) 770 7583

Tiger Brands Limited

Food Processors

(+27 11) 840 4000

Toll Global Forwarding (SA) (Pty) Ltd Shipping

Torre Industries Limited Heavy Machinery

Transnet SOC Limited SOC Services

Transpaco Limited Packaging

(+27 11) 778 2000 (+27 21) 937 2000

(+27 11) 887 0430 (+27 86) 077 7747

(+27 11) 451 8000 (+27 11) 281 6000 (+27 11) 644 6622

Tsogo Sun Group Gaming & Leisure

Tsogo Sun Hotels Hotels

T-Systems SA (Pty) Ltd Business Software Solutions

(+27 21) 460 2300 (+27 11) 510 7700 (+27 86) 144 7744

(+27 11) 254 7400

Water

(+27 33) 341 1111

(+27 11) 652 0000

University of Cape Town (UCT) Universities

Electronic Products

(+27 43) 707 1000

Zeder Investments Limited Specialised Finance

(+27 21) 887 9602

Universities

(+27 11) 717 1000

Value Logistics Limited Road Freight

(+27 11) 929 6700

Verimark Holdings Limited Direct Response Marketing

(+27 11) 699 8000

Victoria & Alfred Waterfront Shopping Centres

(+27 21) 408 7500

Agriculture

Telecom (Wireless)

(+27 58) 863 8111

(+27 11) 653 5000

Volkswagen South Africa (Pty) Ltd Automobiles

Voltex (Pty) Ltd

Electrical Equipment

(+27 41) 994 4111 (+27 11) 879 2000

Commercial Vehicles

Telecommunications Solutions

(+27 11) 842 5000

(+27 87) 805 0000

Vukile Property Fund Limited

Real Estate Holdings & Development (+27 11) 288 1000

WBHO Construction (Pty) Ltd Construction Groups

Webber Wentzel Legal Services

(+27 11) 321 7200 (+27 11) 530 5000

Werksmans Incorporated Legal Services

(+27 11) 535 8000

Wescoal Holdings Limited Coal

WG Wearne Limited Cement

(+27 11) 570 5800 (+27 11) 459 4500

Whirlpool South Africa (Pty) Ltd Household Appliances

(+27 11) 663 5300

Winhold Limited

Wits Business School – University of the Witwatersrand

UNISA Graduate School of Business Leadership (SBL) Business Schools

Yekani Manufacturing

Industrial Products & Equipment (+27 11) 345 9800

Umgeni Water

University of Witwatersrand

(+27 11) 308 3000

Truworths International Limited Retail – Soft Goods

(+27 21) 918 4111

Vox Telecommunications (Pty)Ltd

Trustco Group International (Pty) Ltd Specialised Finance

Business Schools

(+27 11) 049 6700

Trollope Mining Services Mining Services

(+27 21) 808 9111

University of Stellenbosch Business School (USB)

Volvo Group Southern Africa

Trencon Construction (Pty) Ltd Building & Construction Materials

University of Stellenbosch

(+27 11) 822 8782

Travel with Flair (Pty) Ltd Travel & Tourism

(+27 12) 429 3111

Vodacom Group Limited

Transaction Capital Limited Specialised Finance

Universities

(+27 11) 565 2600

Trans Hex Group Limited Diamond Mining

(+27 31) 260 7111

VKB Group

Total South Africa (Pty) Ltd Retail & Commercial Fuels

Universities

(+27 21) 650 9111

Business Schools

(+27 11) 717 3544

Woolworths Holdings Limited Diversified Retailers/ Food Retailers

(+27 21) 407 9111

Workforce Holdings Limited Recruitment Groups

(+27 11) 532 0000

WSP Group Africa (Pty) Ltd Engineering Groups

(+27 21) 511 1337

Top500 9th Edition 167

INTERVIEW

AQRATE

“THERE IS NO BETTER TIME TO INVEST IN SOUTH AFRICA THAN NOW” PLEASE GIVE AN OVERVIEW OF THE SERVICES YOU PROVIDE AND A HISTORY OF YOUR COMPANY AQRate was established in 2003 to meet the corporate sector’s need for a credible empowerment rating agency with national representation. We have a proud history in the industry, having been one of the founding members of the Association of BEE Verification Agencies (ABVA). We also acted as chair for ABVA and as representative on technical and interpretational matters with the Department of Trade and Industry on behalf of ABVA. AQRate currently verifies more of the top 100 listed entities than any of our competitors. We have consistently been rated the number one verification agency in the country by the Top 500 survey since 2013. We are actively involved in drafting the amended sector codes and have published three academic publications on the subject. Having distinguished ourselves as the authority on the subject matter, we are regularly consulted by peers, government and corporate South Africa on B-BBEE. WHAT DO YOU THINK YOU HAVE DONE DIFFERENTLY TO THE COMPETITION? AQRate is a stickler for the law. We truly apply the law without fear or favour, whether we are dealing with clients or government. Our approach is therefore always consistent and predictable. Our clients find comfort in the consistency that this type of approach yields, notwithstanding legislative changes that often occur. We don’t take kindly to being bullied by regulatory authorities. Our strong legal background allows us to stand up for both our rights and those of our clients when confronted with situations like the above. WHAT HAVE BEEN SOME OF YOUR KEY ACHIEVEMENTS AND CHALLENGES? Correctly anticipating legislative changes and positioning for it has been a major challenge, but even this has turned out to be one of our strong points.

168 Top500 9th Edition

Our competitors typically positioned themselves for volume business as opposed to attracting and retaining only quality clients. In the end those that went for volume business could not carry the losses when the legislation changed. Those, like AQRate, who had a long-term view of our industry, were able to position themselves in a much more sustainable way and are still around to tell the story. Another major challenge in our industry has been the clarity of the legislation. However, our strong legal interpretative skills distinguished us in this regard. Our involvement in the facilitation of the negotiations and the drafting of several of the amended sector codes is something we are very proud of. Being invited by the role players in these sectors to carry out these engagements really was an affirmation that our brand carries significant integrity and that industry at large have come to trust us with these important mandates. HAVE THE NEW CODES HAD AN IMPACT ON VERIFICATION? WHAT TRENDS HAVE YOU NOTICED OVER THE LAST COUPLE OF YEARS? The amended codes are significantly more onerous to comply with. Companies’ scores have dramatically declined and together with that their B-BBEE status levels. It is not uncommon to see businesses that used to achieve Level 4 and above drop to Level 8 or even to being non-compliant when scored on the amended codes. We have noticed that businesses that originally gave up because of the very onerous dispensation created by the amended codes eventually started to come back for verification once the pressures of the market started to take its toll. We are also noticing more and more businesses outsourcing the compliance to specialists in certain fields as opposed to trying to do everything themselves.

Gauteng and Western Cape: Chief Executive Officer: Chris van Wyk Chief Operating Officer: Etienne van As Kwazulu-Natal: Chief Executive Officer: Linda Ncgobo Chief Operating Officer: Brigitte Brun As a business we are concerned with a trend in the policy direction regarding a more narrow-based focus on black ownership as opposed to an approach that focuses on the inclusion of a broader base of participants in ownership deals. WHAT ADVICE DO YOU HAVE FOR ASPIRING BUSINESS PEOPLE? Do not front. Seek proper advice and make use of specialists for outsourcing compliance with your B-BBEE elements, such as skills development, enterprise and supplier development and socio-economic development. PLEASE SEND A MESSAGE TO PROSPECTIVE INVESTORS INTO SOUTH AFRICA The best time to invest in any market is when it is at its lowest. South Africa is at a low point as far as political stability and corruption is concerned. The infrastructure for doing business together with strong financial institutions and a robust judicial system is cause for celebration. There is no better time to invest in South Africa than now.

TO P 5 0 0 : S O U T H A F R I C A’ S B E S T M A N A G E D C O M PA N I E S - 9 t h E D I T I O N w w w. t o p 5 0 0 . c o . z a

ADRIAN GORE

RSA: R145.00 (INCL. VAT) UK: £10.00 USA: $20.00

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FUTURE FIT CEO OF DISCOVERY