Where did your finance journey start?  I am a qualified Chartered Accountant. I joined Ithala in September 2015 as the finance manager and have since progressed to my current role of CFO which was effective July 2023. What have been the greatest highlights of your finance career ever since you started at Ithala SOC Limited?  For almost everyone who chooses a career in finance, one of their greatest career aspirations is to become a chief financial officer. So, I was no exception. My ultimate dream was to become a CFO of a large organisation, and I have achieved that! And that is my greatest career highlight! Have there been major changes within your space since you started working at Ithala a few years ago, and now that you are a CFO?  There have been considerable changes, especially with the regulatory reporting requirements. As we know, the financial service sector is highly regulated, and we need to ensure we are fully compliant all the time. Requirements have become more stringent over the years. As the CFO and executive director, I need to ensure that Ithala is compliant with all the relevant regulatory and legislative requirements. Also, becoming the CFO, I now must become more strategically focused and contribute significantly to the overall success and growth of the organisation. With the previous roles in finance within Ithala the focus was more on finance, accounting, and reporting. Can you provide the overview of your top priorities and goals when you were appointed as a CFO?  My top priority and goal as the CFO of Ithala is to help drive business growth and ensure long-term sustainability. Along this journey, we need to ensure that our mandate of banking the unbanked is fulfilled. Banking is a highly regulated industry. As the CFO how are you managing the cost of compliance, and which regulatory compliance projects are top priority for Ithala?  Currently, the two major regulatory projects we are embarking on are the Anti Money Laundering (AML) project and the Risk Data Aggregation and Risk Reporting (RDARR). Both these projects and all other regulatory projects do come at a substantial cost which ultimately affects the bottom line. However, due to the importance of these projects and to ensure Ithala remains compliant we do set aside funding for these projects. The nature of banking is that it is staff intensive, especially if you have a branch model. You also have to contend with attracting and retaining specialised skills, both at the management and executive level. How are you balancing this, ensuring that you attract and retain executives with the requested skills while keeping the salary bill in check?  In banking, the staffing requirements include a wide range of professions. Banking also requires specialised skills in certain areas such as risk management, Treasury, and regulatory reporting, to name a few. Ithala has been lucky to be able to attract the right calibre of staff with these specialised skills and experience. Our executives and managers come with a high level of skills and experience in banking. Our executive team has more than 150 years of experience combined. The experience and specialised skills do come at a premium, like in other specialised fields, we need to cater for this cost. What financial strategies or changes have you implemented to enhance Ithala SOC Limited’s performance and stability during your initial months in office?  In my first 100 days in office, we have begun with the reprioritisation of our current budget. The current focus will be on implementing projects that will drive revenue growth and ensure regulatory compliance. We have also begun a thorough analysis of the cost to identify areas of optimisation and efficiency improvements. In addition to the above, the products’ team is looking at new product offerings and enhancing the current product offering to drive revenue growth. The team is working on a banking app that will move Ithala into the digital space, enhancing accessibility and providing a seamless financial experience for our clients.   What is your assessment of Ithala’s financial health and performance during your first 100 days, and how does this compare to your initial expectations?  The financial sector has not fully recovered from the Covid-19 pandemic, the July 2021 civil unrest, and the flooding, which has put pressure on a lot of organisations and the people of South Africa, especially the people in the lower LSM. This has in turn affected Ithala’s performance negatively as Ithala’s clients fall within this lower LSM. However, we are now seeing the economy stabilise somewhat, interest rates have reached their peak, and we should see interest decline next year, which will ease the pressure on the consumers. The positive outlook should see an improvement in Ithala’s performance. Ithala’s loan book is very resilient. With the recent sharp increases in interest rates and the tough economic environment, we have seen other banks increase impairments of up to 50%. Whereas Ithala’s impairments have only seen a small increase due to the book being mainly secured loans. In addition to this Ithala’s key liquidity ratio remains very healthy and well above the prudential requirements. This should show the strength of Ithala’s balance sheet and its financial health.  What strategies have you put in place to ensure Ithala’s ongoing stability and resilience?  To ensure ongoing stability we have introduced a few cost containment measures to try and reduce costs. A thorough analysis of cost is being done to identify areas of optimisation and efficiency improvements. Being a cash business where liquidity is of utmost importance, there is a strong focus on liquidity and cash flow forecasting. To assist with this, we have established a Treasury department. The intention is to grow this department as we grow the balance sheet. How do you see your role evolving in the coming months and what are your main financial objectives and priorities for the next phase of your tenure? My role before my appointment to the CFO role was mainly focused on financial accounting and reporting. As the CFO the focus is now more strategic. My objectives and priorities in the next few months will involve developing robust financial models, setting financial goals and monitoring performance against them, diversifying investment, and revenue streams, ensuring we secure capital to drive business growth and invest in systems and banking personnel, and exploring strategic collaborations to drive growth. As a CFO and an executive director, can you describe the balance between your responsibilities as a CFO and those of an executive director? As a CFO, my primary focus is on strategy and financial matters, such as managing budgets, financial planning, and ensuring the overall financial health of the organisation. On the other hand, as an executive director, you have a broader role that involves overseeing the organisation’s overall strategy and the day-today management of the organisation. An executive director leads a company, providing the necessary oversight to help the board of directors achieve its goals. The balance lies in coordinating financial strategies with the organisation’s broader goals, providing financial insights to support decisionmaking, and collaborating with other executives to align financial management with the overall strategic direction. What is your overall focus? Ithala is focused and our main mandate, which has not changed in 20 years is to bank the unbanked and we will continue to focus on that. There’s no intention to change that mandate going forward. Ithala has been running as a separate organisation for over 20 years now. Our aim is not to become one of the big commercial banks that are out there, but is more to serve the people of KZN, especially the previously disadvantaged. We are trying to grow the organisation, and have a wider reach in terms of our footprint in more of the rural areas. We aim to bank more of the unbanked, to provide financial services to such individuals and then to help them grow their wealth as well. We provide savings products for these people to help them grow their wealth through interest income in certain investment products. <

Radisson Hotel Group is proud to announce its entry into its fourth South African city, Durban, with the opening of Radisson Blu Hotel, Durban Umhlanga. This opening brings the Group’s portfolio in one of itsRadisson Hotel Group opens its 14th South Afri key African markets, South Africa, to fourteen hotels in operation and two under development. Radisson Blu Hotel, Durban Umhlanga is located on the eastern coast of South Africa’s vibrant city of Durban, in its most affluent residential and entertainment hub, Umhlanga. The hotel has easy access to several popular beaches and is within walking distance of the three-kilometer Umhlanga Beach Promenade. Durban has become a must-visit for local and international travelers because of its vast and enchanting landscapes and ideal year-round weather. Radisson Blu Hotel, Durban Umhlanga is close to the Durban ICC with direct access to the luxury Oceans Mall, which boasts a variety of international brands and is just 5 minutes from King Shaka International Airport. Tim Cordon, Area Senior Vice President, Middle East & Africa at Radisson Hotel Group, says: “ We are thrilled to make our debut in the welcoming city of Durban and cement our presence in our fourth South African city. South Africa continues to be a key market for us on the continent and we are proud to celebrate our 14th hotel opening milestone with the entry into Durban as we open a flagship property of this caliber. With its prime location overlooking the ocean adjacent to the exclusive Oceans Mall, this property will enhance Durban’s vibrant offering and we hope that we will be welcomed warmly into the local community. With mesmerizing ocean views and 206 stylish and well-appointed rooms ranging from luxury suites, junior suites, and rooms for business travelers, to accessible rooms and family rooms, this upscale hotel caters to all travelers with a variety of amenities, including an outdoor pool, a kids play area, an executive business lounge, and a fitness center. FireLake Grill House & Cocktail Bar on the 6th floor will serve North American inspired open flame cuisine and offer a variety of beers and beverages, master-crafted cocktails, and a curated collection of South African wines. Guests can visit the Coffee Lounge on the ground floor for freshly brewed coffee and homemade baguettes from the in-house bakery. The Pool Bar is the perfect location to relax, unwind, and soak up the sun while tasting a selection of light snacks and refreshing cold drinks and enjoying the spectacular views of the Indian Ocean. Marius Earle, General Manager, Radisson Blu Hotel, Durban Umhlanga, says: “It is an honor to open and lead this flagship hotel. There is great excitement and anticipation in the city about this world-class property and I am delighted to welcome guests to experience our personalized service and stylish spaces, as we aim to make every moment matter for our guests and showcase Durban hospitality at its best.” The meetings and events area comprises eight elegant meeting and conference venues fitted with state-of-the-art equipment, including video conferencing capabilities and free high-speed Wi-Fi. The ballroom seats 600 guests in cinema style and leads into a foyer with access to an outdoor terrace which can cater up to 340 guests, perfect for any big or small occasion. With the health and safety of guests and team members as its top priority, Radisson Blu Hotel, Durban Umhlanga is implementing the Radisson Hotels Safety Protocol program. The in-depth cleanliness and disinfection protocols were developed in partnership with SGS, the world’s leading inspection, verification, testing and certification company, and are designed to ensure guest safety and peace of mind from check-in to check-out. MEDIA CONTACTS: SUBASHNI GOVENDER, Marketing Manager, Radisson Blu Hotel, Durban, Umhlanga subashni.govender@radissonblu.com CAROLINE JONSSON , PR & Communications Manager, Middle East, Radisson Hotel Group caroline.jonsson@radissonhotels.com SOPHIE CLARKE , Global Director Social Media & Consumer PR, Radisson Hotel Group sophie.clarke@radissonhotels.com ABOUT RADISSON HOTEL GROUP Radisson Hotel Group is one of the world's largest hotel groups with nine distinctive hotel brands, and more than 1,700 hotels in operation and under development in 120 countries. The Group’s overarching brand promise is Every Moment Matters with a signature Yes I Can! service ethos. The Radisson Hotel Group portfolio includes Radisson Collection, Radisson Blu, Radisson, Radisson RED, Radisson Individuals, Park Plaza, Park Inn by Radisson, Country Inn & Suites by Radisson, and prizeotel brought together under one commercial umbrella brand Radisson Hotels. Radisson Rewards is our international rewards program that delivers unique and personalized ways to create memorable moments that matter to our guests. Radisson Rewards offers an exceptional experience for our guests, meeting planners, and travel agents at over 640 hotels in Europe, Middle East, Africa and Asia Pacific. Radisson Meetings provides tailored solutions for any event or meeting, including hybrid solutions placing guests and their needs at the heart of its offer. Radisson Meetings is built around three strong service commitments: Personal, Professional and Memorable, while delivering on the brilliant basics and being uniquely 100% Carbon Neutral. The health and safety of guests and team members remain a top priority for Radisson Hotel Group. All properties across the Group’s portfolio are subject to stringent health and safety requirements, as outlined in the Radisson Hotels Safety Protocol . The in-depth cleanliness and disinfection protocols were developed in partnership with SGS, the world’s leading inspection, verification, testing and certification company, and are designed to ensure guest safety and peace of mind from check-in to check-out. The Safety Protocol is an integral part of Radisson Hotel Group’s Safety and Security program ensuring we always care for our guests and team members. More than 100,000 team members work at Radisson Hotel Group and at the hotels licensed to operate in its systems. For more information, visit our corporate website . Or connect with Radisson Hotels on: LinkedIn | Instagram | Twitter | Facebook | YouTube ABOUT RADISSON BLU Radisson Blu is an upper upscale hotel brand that delivers positive and personalized service in stylish spaces. Characterized by attention to small details and the Yes I Can! service philosophy, Radisson Blu hotels are designed to make a big difference and inspire unforgettable experiences with every stay. Through personalized service and local nuance, each stay at a Radisson Blu hotel becomes a true meaningful and memorable experience. Radisson Blu hotels can be found in major cities, key airport gateways, and leisure destinations. Guests and professional business partners can enhance their experience with Radisson Blu by participating in Radisson Rewards, a global loyalty program offering exceptional benefits and rewards. Radisson Blu is part of Radisson Hotel Group, which also includes Radisson Collection, Radisson, Radisson RED, Radisson Individuals, Park Plaza, Park Inn by Radisson, Country Inn & Suites by Radisson, and prizeotel brought together under one commercial umbrella brand Radisson Hotels. For reservations and more information, visit our website .

Radisson Hotel Group is proud to announce its entry into its fourth South African city, Durban, with the opening of Radisson Blu Hotel, Durban Umhlanga. This opening brings the Group’s portfolio in one of its key African markets, South Africa, to fourteen hotels in operation and two under development. Radisson Blu Hotel, Durban Umhlanga is located on the eastern coast of South Africa’s vibrant city of Durban, in its most affluent residential and entertainment hub, Umhlanga. The hotel has easy access to several popular beaches and is within walking distance of the three-kilometre Umhlanga Beach Promenade. Durban has become a must-visit for local and international travellers because of its vast and enchanting landscapes and ideal year-round weather. Radisson Blu Hotel, Durban Umhlanga is close to the Durban ICC with direct access to the luxury Oceans Mall, which boasts a variety of international brands and is just five minutes from King Shaka International Airport. Radisson Hotel Group is one of the world’s largest hotel groups with nine distinctive hotel brands, and more than 1,700 hotels in operation and under development in 120 countries. Tim Cordon, Area Senior Vice President, Middle East & Africa at Radisson Hotel Group, says: “We are thrilled to make our debut in the welcoming city of Durban and cement our presence in our fourth South African city. South Africa continues to be a key market for us on the continent and we are proud to celebrate our 14th hotel opening milestone with the entry into Durban as we open a flagship property of this calibre. With its prime location overlooking the ocean adjacent to the exclusive Oceans Mall, this property will enhance Durban’s vibrant offering and we hope that we will be welcomed warmly into the local community. Vivian Reddy, Chairman, Radisson Blu Hotel, Durban Umhlanga said, “We picked Radisson Blu because we believe the Radisson Group is the ideal and most suitable hotel group in Africa for this kind of project. It’s a project that has been through tough times, but at the end of the day, it has become a reality.” Meaningful and memorable experiences Radisson Blu hotels are designed to make a big difference and inspire unforgettable experiences with every stay. Through personalised service and local nuance, each stay at a Radisson Blu hotel becomes a true meaningful and memorable experience. Guests and professional business partners can enhance their experience with Radisson Blu by participating in Radisson Rewards, a global loyalty programme offering exceptional benefits and rewards. With mesmerizing ocean views and 206 stylish and well-appointed rooms ranging from luxury suites, junior suites, and rooms for business travellers, to accessible rooms and family rooms, Radisson Blu Hotel, Durban Umhlanga is an upscale hotel that caters to all travellers. The variety of amenities include an outdoor pool, a kids play area, an executive business lounge, and a fitness centre. FireLake Grill House & Cocktail Bar on the sixth floor serves North American inspired open flame cuisine and offer a variety of beers and beverages, master-crafted cocktails, and a curated collection of South African wines. Guests can visit the Coffee Lounge on the ground floor for freshly brewed coffee and homemade baguettes from the in-house bakery. The Pool Bar is the perfect location to relax, unwind, and soak up the sun while tasting a selection of light snacks and refreshing cold drinks and enjoying the spectacular views of the Indian Ocean. Marius Earle, General Manager, Radisson Blu Hotel, Durban Umhlanga, says: “It is an honour to open and lead this flagship hotel. There is great excitement and anticipation in the city about this world-class property and I am delighted to welcome guests to experience our personalised service and stylish spaces, as we aim to make every moment matter for our guests and showcase Durban hospitality at its best.” Meetings and events The meetings and events area comprises eight elegant meeting and conference venues fitted with state-of-the-art equipment, including video conferencing capabilities and free high-speed Wi-Fi. The ballroom seats 600 guests in cinema style and leads into a foyer with access to an outdoor terrace which can cater up to 340 guests, perfect for any big or small occasion. Radisson provides tailored solutions for any event or meeting, including hybrid solutions placing guests and their needs at the heart of its offer. Radisson Meetings is built around three strong service commitments: Personal, Professional and Memorable, while delivering on the brilliant basics and being uniquely 100% Carbon Neutral. Meaningful and memorable experiences With the health and safety of guests and team members as its top priority, Radisson Blu Hotel, Durban Umhlanga is implementing the Radisson Hotels Safety Protocol programme. The in-depth cleanliness and disinfection protocols were developed in partnership with SGS, the world’s leading inspection, verification, testing and certification company, and are designed to ensure guest safety and peace of mind from check-in to check-out. The Group’s overarching brand promise is Every Moment Matters with a signature Yes I Can! service ethos.

With one-in-five vehicles on South African roads fitted with locally produced Dunlop tyres, the tyre manufacturer is forging ahead with a multi-billion rand investment project backed by its Japan-based parent company, Sumitomo Rubber Industries (SRI). This is set to boost local tyre production capacity as more Original Equipment Manufacturers (OEMs) look to domestic tyre producers to meet their vehicle specifications. The R1.7 billion investment drive was announced during the 50th anniversary of Dunlop’s Ladysmith manufacturing plant. The production facility first opened its doors in October 1973 and has since been at the forefront of tyre production in South Africa. Sumitomo Rubber South Africa (SRSA), the South African operation of SRI, manufactures Dunlop tyres and also distributes the Sumitomo and Falken tyre brands. Speaking during a visit to the plant on Monday, 2nd October 2023, Minister of Trade Industry and Competition, Ebrahim Patel, said, "I welcome today's announcement of a new investment of R1.7 billion. This investment will provide a boost to local production, strengthen the factory's output, and support local jobs. Furthermore, the new investment will aid in the modernisation and improvement of the plant. It also marks a significant step toward achieving President Ramaphosa's R2 trillion target for new investments over the next five years.” He added, “South Africa has an 88-year history of tyre manufacturing, and this plant is Africa's largest tyre producer. The investment announced today serves as a clear signal of the confidence that international investors have in South Africa and reflects the progress we have made with the SA Automotive Master Plan." His Excellency, Ushio Shigeru, Ambassador of Japan to the Republic of South Africa, expressed his support for the future of the country’s automotive industry and applauded the government for its initiatives in expanding the electric vehicle production and market. “The Embassy of Japan has been a great supporter of Japanese company activities here in South Africa. It is a pleasure to see Sumitomo Rubber's further successes in its local operations, which has brought skills development and local youth empowerment,” he said. SRSA CEO, Lubin Ozoux, said the milestone anniversary for Dunlop comes at a critical time. “With the backing of our parent company, we are investing significantly into our passenger car radial production facility to make a larger impact in the automotive industry. The plant will be able to run a wider set of products, producing more tyres that meet and exceed OE specifications, and that are safety-tested for all South Africans. At the same time, it gives us the opportunity to continue our investment in our local community and municipality, creating a vibrant environment for us all to thrive.” Dunlop holds approximately 20% of the local OE market and has agreements in place with Toyota, Nissan, Isuzu, Hino, Tata, Scania and UD Trucks, effectively resulting in one-in-five vehicles on South Africa roads being factory fitted with tyres produced from the Dunlop Ladysmith plant. The investment includes new plant equipment and machinery, such as a new mixer, new tread line, and new sidewall line, which will increase passenger car tyre production capabilities, efficiencies and product offering to further support the OE market. This comes off the back of SRSA’s multi-billion-rand investment in 2018 in a state-of-the-art 180,000m² Truck and Bus Radial (TBR) factory at the plant, facilitating local manufacture of truck and bus tyres. Sustainability With a demand for global environmental impact reduction from the automotive industry, Dunlop’s new high-spec, technology-driven equipment and optimised production processes will reduce the plant’s environmental impact, aligned to Sumitomo Rubber Industries’ global sustainability goal of zero carbon emissions by 2050. “The new equipment will improve current process capability and decrease our overall plant waste by over 60% once the investment is complete. Power consumption will be significantly reduced, and the equipment will also have the capability to produce very low rolling resistance tyres that will meet help meet future emissions requirements for OE manufacturers who choose to use our products. Our new mixer, with improved technology, will result in an energy saving of approximately 300KWH,” said Ozoux. Local employment and economic investment Sumitomo Rubber South Africa, through Dunlop Tyres, is proud to play its role in economic growth and job creation, buoyed by the commitment by local and national government to smooth the path for investment growth and opportunities. SRSA holds strong market share in Africa with a branded presence in 23 African countries, supplying car, van and SUV tyre markets to Nigeria, Ivory Coast, Kenya and neighbouring countries Zambia and Zimbabwe. The latest investment plans further entrench Dunlop as an employer of choice in the region, committing investment into the local automotive manufacturing sector. Dunlop hired 1257 people into the company between 2014 to 2023, made up of permanent staff members, expats, temporary employees, fixed term employees, graduates, in-service trainees, apprenticeships, and learnerships, with 90% of employees residing in the uThukela District Municipality, within which the Alfred Duma Local Municipality is located. “Dunlop plays a vital role in the Ladysmith economy as we are one of the largest employers in the town. In addition, our spend in the local economy has a multiplier effect on job creation and sustaining local businesses. We have endeavoured to source locally, and a local Ladysmith supplier has been developed as SRSA’s main mould management vendor,” said Ozoux. “The time is always right for investment and development, and we thank the relevant stakeholders and partners for lending their support to a conducive manufacturing industry. We are excited to see what the next 50 years hold for Dunlop, for the community and the greater OE manufacturing industry nationally,” he concluded. Issued By: Joanne de Freitas Manager: PR & Events Sumitomo Rubber South Africa (Pty) Ltd (SRSA) T +27 31 242 1161

It’s time we all redefine the way we see and understand what wealth is. Ithala wants to walk the journey with you today in setting the wheels in motion. Are you up for the challenge?   Ithala SOC Limited, a licensed financial services and registered credit provider, is a 100% owned subsidiary of Ithala Development Finance Corporation Limited and is listed as a public entity in terms of Schedule 3 of the PFMA.   In line with a recommendation from the South African Reserve Bank, Ithala SOC Limited was divided from Ithala Development Finance Corporation Limited in 2001 and has been operating under an exemption from the Banks Act 94 of 1990 (‘Banks Act’). The current exemption status is a temporary mechanism to enable Ithala to apply for and comply with the bank license requirements in terms of the Banks Act.   Ithala SOC Limited is the only state-owned entity that provides full banking services; is already fully regulated by the South African Reserve Bank and other banking industry regulators; and is fully committed to ensuring compliance with all applicable regulations.   As part of its essential products and services bouquet, Ithala SOC Limited provides the following via a multichannel distribution network to individuals, groups, businesses and other public sector entities: Transactional Banking Insurance Lending Public Sector Finance Savings and Investments   The entity’s purpose is to provide financial services to the people of KwaZulu-Natal, thereby contributing to the province’s socio-economic development. Ithala SOC Limited’s physical footprint spans the entire province of KwaZulu-Natal and, in some rural areas, still remains the only financial institution with a physical presence. A current distribution network of 38 branches in KZN provides convenient transacting facilities.   CORPORATE SOCIAL RESPONSIBILITY Ithala MoneyTalks Ithala MoneyTalks is Ithala’s flagship financial education programme. The aim of the programme is to empower ordinary South Africans with financial literacy skills that will empower them to make sound financial decisions, manage money and create wealth. The programme targets Ithala clients, students, entrepreneurs and ordinary people. MoneyTalks offers practical easy to follow guide and tools to help people to create wealth.   MoneyTalks wealth creation formula: Get out of Debt Start Saving Start Investing Build Multiple Sources of Income   MyBest Childhood Foundation Ithala SOC Limited partnership with MyBest Childhood Foundation is aimed at assisting previously disadvantaged learners in remote areas where schools are often overlooked and under resourced. The partnership focuses on the following projects that will be delivered by My Best Childhood Foundation: School Feeding Scheme Vegetable GardenProgramme School Signage   Ithala Digital Skills Development Programme The 4th Industrial Revolution (4IR) is changing the way we live, work and interact. New digital technologies are merging with human physical lives and totally transforming how everyday activities are performed and the skills required to navigate this new world of 4IR. Digital skills are becoming a critical success factor across all spheres of life.   Ithala Education Fund has partnered with GoDigital Foundation (NGO focusing on training the youth on digital skills) to hold digital skills training for learners from rural areas. The programme targets 150 learners annually in foundation, intermediate and senior phase.   Ithala Edu Platform The COVID-19 pandemic and subsequent national lockdown resulted in school learners losing substantial tutoring in their school academic years since 2020. Some schools and learners with access to technology and resources were able to follow online and intermittent schooling during lockdown periods.   However, many learners from disadvantaged backgrounds and areas were left behind and needed assistance to catch-up.   The Ithala Education Trust responded to this need by introducing the online Ithala Education Platform to assist learners. The online tutoring is delivered in partnership with the GoDigitalSA Foundation – the development and implementation partner in this programme.   The Platform contributes to assisting Grade 12 learners with their examination results, their wellness, and their career choices.   The tutoring covers Accounting, English (First Additional Language), Computer Applications Technology, Geography, isiZulu (Home Language), Mathematics, Physical Science – and the added value of Wellness, Career Guidance, and Digital and Financial Literacy. The Programme was enhanced in 2021 to include the Advanced Pillar of Digital Literacy and Financial Literacy.   Learners reach the Platform offerings via Facebook. Media partners like Sajonisi Radio, VoiceFM, and Anchor FM enable the broadcasting of revision tutoring on the seven subjects. This online Platform is now called the Ithala Edu Platform.   Visit https://myithala.education     CONTACT DETAILS Call Centre: +27 (0)80 133 1130 T: +27 (0)31 366 2500 W: www.myithala.co.za

We are in final month of 2023 and the holiday season is upon us. We find ourselves reflecting on this this past year, which we hope has been as memorable for you, your colleagues, and your loved ones as it has been for us. The front page of this Business Sense edition features Mohamed Gafoor, Chief Financial Officer (CFO) of Ithala SOC Limited. Grant Adlam, publisher of Business Sense was recently in conversation with Gafoor who reflected on his first 100 days in office. See pages 8 and 9, also follow the link to his video interview. A highlight of the year for KZN Top Business Women was the gala dinner held on the 2 November at the Sky venue Elangeni Maharani Hotel in Durban. This event was an evening to remember. See page 3 and follow the link to watch the event’s proceedings. The Icebolethu Group were also hosts of an unforgettable 14th Annual Gala Dinner at the Durban ICC. Page 6 Our regular editorial articles – which provide a great deal of insight into business issues – include: ■          Johan van Deventer, LabourNet, who comments on employees’ dismissals based on retirement age. Page 4 ■          Marlene Powel, ActionCOACH, gives advice on how to go about shattering the glass ceiling. Page 6 ■          Michael Jackson, Cox Yeats Attorneys, provides professional insight into the legalities around water rights and transformation. Page 7 ■          Jacquie Bhana, Jacquie Bhana Consulting, is passionate about people development and asks if you ready to take the plunge and follow your passion? Page 10 ■          Prof Theuns Pelser, TWIMS, reflects on a year that has been categorised by excellence in manufacturing education and research. Page 11 ■          Sameer Kumandan, SearchWorks, understands and can assist in beating fraud in every department – a often shocking dilemma faced by businesses. Page 12 ■          Lungani Nene, Spot-On Fire Controls, offers advice on fire extinguisher basics. Do you have the correct safety equipment in the event of a fire? Page 12 ■          Shadrach Karien, Mi7 National Group writes on elevating workforce health, including the imperative of first aid training and wellness checks in South Africa. Page 13 ■          Dr Fareed Amod, Crown Dental Studio, has advice on how to protect your ‘pearly whites’ through the use of mouth guards. Page 14 ■          David White, BusinessFit, is passionate about supporting the growth and development of small businesses and has a business development tool for SMES. Page 16 In other articles: ■          Sky Tents offers a tent for every event – which should you select to meet your needs? Page 14 ■          The Sappi Khulisa programme has won a Trialogue award for best practice CSI. Page 15 ■          Bell Equipment has a new CEO effective 1 January 2024. See page 13 And lastly, the end of the year also brings to the team at Business Sense the opportunity to thank our contributors and express to them, as well as to our readers, season’s greetings and good wishes. May your holidays and New Year be filled with joy.

The Durban Chamber of Commerce and Industry NPC is deeply concerned about the recent delays at the Port of Durban leading to an estimated 35000 containers stuck at sea. As organised business, we believe this delay is due to lack equipment maintenance, failure to buy equipment and run the straddles, stacks, and tugs effectively. Furthermore, the lack of maintenance and ageing equipment continues to disturb port operations. The Port of Durban is one of the busiest in Africa, but it is also one of the most congested. In 2017 the Port of Durban had about 112 straddles operating, since then the situation has deteriorated. As organised business, we have closely monitored the situation. Since January, this year we have seen an exponential increase in delayed hours. In January, the delay was 39 hours, July 96 hours. August 194 hours and September 364 hours. This is unacceptable, businesses must bear the brunt of these delays.   The delays are costing the shipping companies an estimated R7 million, resulting in job losses and leading to a negative economic impact across crucial economic value chains and sectors. Our members in the clothing and textile sector, automotive sector and producers of major appliances have been stuck for the past 12 days. We need tangible reforms to turn around Transnet.   Continued delays are resulting in added lead times and delaying the supply of essential goods and services. As we approach the festive season, businesses especially SMMEs are dependent on their stock to service customers.   Furthermore, cargo arriving during this time of the year are time sensitive, failure to land the goods on time in stores will result in retailers carrying deadstock leading to unplanned losses.   As organised business we are requesting the following: Chambers, businesses including the shipping lines to be on the National Logistics Crisis Committee. We believe this will allow the private sector to present tangible solutions. Merely using desktop solutions will not work. As organised business we are opposing the privatisation of the container terminal. Shipping lines have made an offer to government to buy the equipment needed to fix Transnet over the long term and recoup their investment through relaxed surcharges.   The appointment of an independent engineering consulting firm with strong project and programme management expertise to run the equipment.   The Durban Chamber of Commerce and Industry NPC believes we do not have the leisure of fixing the port within 18-24 months, we need an immediate solution. We need private sector partnerships. As organised business, we believe the shipping lines and Transnet must enter into a joint agreement allowing the shipping lines to buy the necessary equipment and rebuild infrastructure. Through this investment private sector must be given an opportunity to recoup their investment through the relaxation of tariffs.   For more info, contact the Durban Chamber on 031 335 1000 or info@durbanchamber.co.za www.durbanchamber.co.za

Icebolethu Group, a leading innovator in the funeral industry, celebrated its 14th Annual Gala Dinner in grand style, bringing together staff, stakeholders, and industry leaders for an evening of glamour and comfort. The gala, held on 19 November 2023 at Durban ICC, featured the unique and exciting theme of ‘Ball Gowns /Black Tie and Sneakers’, creating a memorable fusion of elegance and casual chic.   The annual gala serves as a platform for Icebolethu Group to express gratitude to its dedicated staff, acknowledge the contributions of valued stakeholders, and celebrates the company’s achievements over the past year. This year’s event was nothing short of spectacular, combining sophistication with a touch of playfulness through the theme that encouraged attendees to embrace both formal wear and comfortable sneakers.   Guests arrived at the red carpet with stunning gowns paired with stylish sneakers, showcasing a diverse and fashionable interpretation of the theme. The event space was transformed into a visually captivating environment, blending the richness of a traditional gala with the relaxed vibe of a social gathering. The contrast of glamorous evening wear and trendy sneakers created a vibrant atmosphere that resonated with Icebolethu’s commitment to innovation and inclusivity.   The evening commenced with expressing gratitude for the hard work and dedication of Icebolethu’s staff and the ongoing support of its stakeholders by different speakers. Throughout the night, attendees were treated to an elegant dining experience, live entertainment, and engaging presentations highlighting the company’s achievements, milestones, and future initiatives. The highlight of the evening was the recognition of outstanding employees and partners who have made significant contributions to Icebolethu’s success. Awards were presented in various categories, acknowledging excellence in innovation, leadership, and teamwork.   “Icebolethu’s 14th Annual Gala Dinner was a testament to our commitment to excellence, creativity, and appreciation for the diverse talents that contribute to our success. The ‘Gowns and Sneakers’ theme allowed us to break away from convention and celebrate in a way that reflects the dynamic spirit of our organisation. I am truly humbled by the unwavering dedication of our incredible team, AmaCebo Amahle. Their hard work and commitment have been the cornerstone of our success. Our stakeholders, with their steadfast support, have been instrumental in shaping our path. Icebolethu Group is proud to announce that we’re venturing into a new chapter. I am excited to introduce Icebolethu’s newest business offering,” said Nomfundo Mcoyi, Icebolethu Group CEO.   As the night drew to a close, guests departed with a sense of solidarity and accomplishment, looking forward to another year of growth and collaboration with Icebolethu. The 14th Annual Gala Dinner not only celebrated achievements but also reinforced Icebolethu’s position as a forward-thinking industry leader that values both professionalism and individuality.   http://www.icebolethugroup.co.za/

In 2022, after 35 years of working in some of the most successful local and global companies, Jacquie Bhana left the corporate world to do what she loves – developing people, seeing them grow and helping them work towards their aspirations. Her current work focuses mainly on coaching and mentoring, which is a process that can empower people at all levels to leverage their unique strengths and achieve their goals.   A year later, Jacquie has quickly grown a solid base of individuals at various levels of their careers, and she has many successes to report on. Her clients currently include both large, medium and small businesses and NPOs. Her work as a small business has taken her beyond the gates of a large single corporate to diverse and varied organisations and clients.   There is a large, pulsating and exciting world of work ‘out there’, with many individuals looking for growth and development.   Some highlights of the year include: Coaching and mentoring candidates on the Beier Group bursary and education assistance programmes Durban University of Technology and Projectised graduate mentoring Succession and strategic planning implementation and performance management at Royal Tyres A keynote speaker on mental health and wellness Various high performance coaching initiatives at leadership and SMME level Working with the Sports Coaching Lab and the Da Vinci Institute to develop and professionalise sports coaching capability.   Business Focus Jacquie says, “I work with people who feel that they are stuck in their careers by helping them to move into meaningful and impactful roles so that they can help move their organisations forward. I know exactly how scary it can be to think about making changes because we’re so afraid of the unknown. And if you’re wavering because you… Think you need more time Don’t feel comfortable with the unknown Not 100% clear on what your career goal is Get overwhelmed just thinking about taking action Lack confidence Don’t know where to start… You are not alone – I hear this from my clients all the time, before they begin to embark on this daunting but exciting journey.”   Jacquie has worked in various business sectors, including agriculture, financial services, engineering, automotive and retail. Within these sectors, she has worked at a senior level in both marketing and human resource functions, in management, executive and non-executive roles.   The companies that Jacquie has worked for include VWSA, Bostik and British United Engineering, McCarthy Motor Holdings and Tongaat Hulett. She currently serves on the board of the Durban Chamber of Commerce and Industry as the first vice president.   Signature System In order to assist people Jacquie has adopted her signature system of ‘YOU TO GREAT’ for her individual coaching methodology.   This involves a bespoke process for every client – there is no one size fits all – and covers three pillars.   Coaching is a tool that can empower people at all levels to leverage their unique strengths and achieve their goals and has the following benefits: GREATER SELF-AWARENESS – allows participants to reflect in a non-judgemental space and become more aware of what makes them tick, and also how to work better with others. IMPROVED COMMUNICATION – people can practice setting boundaries, apologising, having difficult conversations. They can give and receive feedback on how their tone, mannerisms and choice of words impact others. MORE CONFIDENCE – your coach may not always agree with you, and they can’t give you the answers or do the work for you, but they’re always in your corner. This can boost your self-esteem. ACCOUNTABILITY – people who work with coaches set clear goals, and they are focused and intentional about the steps that they need to take to reach those goals. BETTER WELLBEING – coaching is known to help reduce stress and burnout because clients learn to manage their workloads more efficiently.   Jacquie’s years of experience and success with people development make her an ideal person with whom to work. Her company, Jacquie Bhana Consulting, is a BBBEE level 1 entity. She is well equipped to work as a high performance and life coach and mentor. Jacquie has worked across the board, with executives, managers, small business owners and women from various backgrounds.   For more information: C: +27 83 386 8343 E: Jacquie.bhana@mbhana.co.za ; jacquie@jbhana.co.za W: www.jacquiebhana.co.za

The Durban Chemicals Cluster (DCC) Business Accelerator held its annual “Dragons’ Den” event in November 2023. Emulating the renowned Dragons’ Den format, 11 emerging Black-owned enterprises passionately presented their ventures to a panel of influential ‘Dragons’ who are driving the meaningful transformation of the local chemicals sector; Bridget Bishenden from FFS Refiners, Rudi van Niekerk from H&R, Trevor I’Ons from NCS, and David Lombard from Sherwin-Williams. Beyond the allure of instant cash prizes, the participating entrepreneurs vied for commercial partnerships with the Dragons’ companies, seed capital infusion, and coveted mentorship opportunities from industry luminaries. Open to all Black entrepreneurs in the chemical sector, from start-ups to established SMMEs, the DCC Business Accelerator attracted close to 100 entries this year. The selection process was rigorous and narrowing the pool to the final 33 candidates was a challenging task.   The chosen qualifiers then underwent a comprehensive one[1]day capacity-building workshop in Durban on Wednesday, 25 October 2023. The top 11 pitches then advanced to the ‘Dragons’ Den’ stage and delivered impressive presentations.   Pulse Control Systems claimed the top prize, securing the Best Overall Business Case award and a R35,000 cash prize.   The additional R25,000 cash prizes recognising outstanding achievements in specific categories were awarded to the following SMEs: Most Relevant to the Chemical Industry: Spot on Fire Controls, Lungani Nene from Cato Manor Best Environmental Sustainability Solution: Virenix, Viren Udith from Mount Edgecombe Industry Gamechanger: AJ85 Distributors, Anderson Jacobs from Durban   Nevertheless, all 11 SMEs ultimately walked away with a reward. According to Kyle Ballard, Head of the Accelerator, each of them has been granted annual membership to the Durban Chemicals Cluster.   However, the greater reward is that each SME will also receive support to unlock coveted sales and commercial opportunities with the Dragons and potential customers, improving their growth prospects significantly.   If you are a Black-owned SME seeking to propel your business to the next level, explore similar Business Accelerators across the following clusters: Durban Chemicals, KZN Clothing and Textiles, Cape Clothing and Textiles, eThekwini Furniture, and Durban Automotive. For more information and to apply, please go  to: https://bit.ly/3pOLSzF .

As we close another year at TWIMS, I am delighted to share our collective achievements, which reflect our unwavering commitment to excellence in manufacturing education and research. Academic Excellence in GIBS Programmes The graduation of the PGDip 2022 cohort took place at the University of Pretoria in April and was a celebratory affair, particularly due to the excellent results of the cohort and the special awards received, including the top PGDip student overall for one of our Manufacturing Ambassador Scholarship (MAS) recipients. Of the 27 students who began the PGDip in 2022, 24 students passed. The MBA class of 2022 - 2023 graduated in September, where seventeen students out of the total number of 25 students successfully completed the programme. Friedrich Hamel, one of our MAS recipients, received the GIBS top student award with the highest overall performance for the MBA degree!   Manufacturing Ambassador Scholarship (MAS) Impact We awarded 17 MAS for 2023, enhancing diversity and commitment to manufacturing excellence. Despite some challenges, the programme remains a cornerstone of our educational offering.   Executive Short Courses Success Our array of Executive Short Courses, including Green Manufacturing and Lean Operations, received high ratings, underscoring our capability to deliver impactful and relevant executive education.   Community and Alumni Engagement The inauguration of the Alumni Association and the acclaimed Alumni Cocktail event signify our expanding community engagement and influence.   Research and Publications Our faculty’s participation in academic publications and conferences, notably on sustainability in manufacturing and women’s roles in the sector, has kept us at the vanguard of thought leadership.   Sponsorship and Partnerships The renewal of essential corporate sponsorships, such as Toyota SA, Metair, a new corporate sponsorship by CFAO, and the forming of partnerships for customised programmes (SAB InBev and UNDP), reflect ongoing confidence in our mission and the value we add to the manufacturing sector. Recognising the vital role that GIBS plays in our success is essential, and I am eager to strengthen this crucial partnership further.   Research Showcase The Research Showcase event stood out as a significant moment, highlighting the creative and pioneering efforts of our students and faculty, while further establishing TWIMS’s reputation as a forefront institution in manufacturing research.   To learn more visit https://online.flipbuilder.com/uczf/ratu/   Commissioned Research Our collaboration on the JICA Kaizen Study for a second year running stands as a significant achievement under commissioned research, demonstrating our commitment to global best practices and continuous improvement in manufacturing.   Operational Enhancements We undertook proactive measures like infrastructural updates, streamlining our operations and fostering an environment conducive to learning and growth.   As we look ahead, our focus remains on enhancing our academic programmes, expanding the MAS, delivering high-quality executive education, and contributing significantly to manufacturing research.   For more information: Prof. Pelser at theuns.pelser@twimsafrica.com  W: www.twimsafrica.com

Beating fraud in every department Fraud of all kinds increased by a shocking 600% over the last four years in South Africa.   Clearly, it’s more important than ever to follow best practices when doing due diligence before sealing a business deal with someone – whether client or enterprise.   Robust Know Your Customer (KYC) or Know Your Business (KYB) checks are one of the best ways to mitigate fraud risk, says Sameer Kumandan, managing director of SearchWorks, South Africa’s largest and most innovative data aggregation platform. “Having reliable data is crucial before making any significant business decisions.  Whether it’s hiring a new employee or partnering with a supplier, having accurate information will not only reduce the risk, but also provide confidence in the ecision[1]making process.”   But such in-depth checks can prove to be quite the admin headache. That’s where a KYC and onboarding specialist such as SearchWorks can help.   Here’s how each department can benefit: Human Resources: According to a survey from CareerBuilder, 75% of HR managers have caught wind of a CV lie. Making a poor hiring decision based on fraudulent or falsified information can be time[1]consuming, resource-intensive at best, and much more than a costly mistake. At worst – imagine a mining engineer jeopardising the safety of thousands of workers underground because they exaggerated their previous experience.   That’s why background checks are a smart way to uncover any red flags that could indicate that a potential new hire is a risk. This involves verifying all the information contained on their CV– from education to work experience and certifications.   Some of the background check searches that can be run on candidates using SearchWorks include ID verification, qualifications checks, social media checks, criminal checks, BEE ID photo verifications, and driver’s licence/PDP verification. Other useful checks, especially for individuals working in finance or to be appointed in leadership roles, include politically exposed persons and sanctions, FAIS status, SAFPS fraud verification, employment confidence index, gross monthly income, and CIPC director search.   Finance: If an accountant does not know their client or client’s business, they run the risk of inadvertently being complicit in committing fraud, money laundering or tax evasion. But knowing everything about the business entity or client you are dealing with can be complex. “Besides the importance of having access to reliable, up-to-date data from several sources, professionals need information obtained within the remit of the law, aligned with the National Credit Regulator and compliant with POPI regulations,” says Kumandan.   The SearchWorks online platform allows users to conduct live, accurate searches on individuals and companies, and in-depth KYC checks online. This gives them access to reliable data such as credit checks, deeds checks, exclusive use area verifications, valuations of properties and vehicles, CIPC records, qualification searches, Anti-Money Laundering (AML), PEP and Sanctions. In addition, ID and bank account verifications, asset valuations, live tracing on individual and company records, and property and directorship searches can all be done within the confines of the law.   Procurement: Onboarding fraudulent suppliers or tender applicants can mean the end of a company, so vetting all suppliers and third parties is crucial. This includes the obvious checks such as BEE status and account verification, but also harder-to[1]come-by information such as checking whether there are any sanctions against a company. “To assist in their role as gatekeepers in ensuring that their business only engages with legitimate partners and safeguards against fraudulent practices, procurement departments need the ability to thoroughly vet vendors, perform company background checks, and assist in crucial decision-making that ensures that organisations can grow with complete confidence,” says Kumandan.   SearchWorks’ platform not only provides reliable data to minimise risk, but reduces employees’ time and effort digging into various systems when looking for further information. It can help with credit checks (whether companies or individuals), CIPC vetting, asset deeds, VAT verification, sanctions vetting, account verification, default listings, and much more.   Legal: In the modern landscape, South African legal professionals can benefit from platforms that aggregate data from various public and private sources, including the Deeds Office, CIPC, credit bureaus, and additional reputable providers. These digital resources offer a multitude of search parameters that encompass individual, business, trust, property, credit, and adverse news searches.   SearchWorks allows lawyers quick access to accurate data on their clients, potential clients, and other parties involved in their cases. This can help with financial compliance, legal research and case preparation, as well as tracing and investigations in a broad spectrum of legal specialties, including conveyancing, litigation, commercial law, and more.   With over 160 different search types and access to more than 20 data sources, platforms like SearchWorks have become indispensable – not only in the fight against fraud, but to increase efficiencies as businesses evolve in an ever-complex world. “Embracing such innovative solutions ensures that different departments can navigate their myriad responsibilities with greater confidence – and ensure businesses operate more ethically, transparently, and proficiently,” says Kumandan.   T: 086 034 0000 E: info@searchworks.co.za W: www.searchworks.co.za