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The 11th KPMG South Africa Family Business Conference recently held in Pretoria brought together family business and family office leaders and experts to explore the theme of “Managing Change and Transition”. Through engaging panel discussions, attendees gained valuable insights into the complexities of multi-generational success, entrepreneurial leadership, the evolving role of family offices, and the value of independent governance. Here are the key takeaways from the conference: Passing the Torch – A Roadmap for Responsible Ownership The first panel featured insights from second, fourth, and fifth generation family business leaders, each bringing a unique perspective on succession challenges and opportunities. The panellists emphasised the importance of: ■ Keeping the family business relevant by seeking new opportunities while staying true to core values. ■ Effective communication and alignment of values between the family and the business as crucial for maintaining family harmony. ■ As the family business(es) evolve, the transition from control to stewardship becomes essential, with later generations embracing humility and understanding the legacy they inherit. ■ Balancing reinvestment and dividends, with some families employing business assemblies and investment panels to guide these decisions. Personal anecdotes were also shared about the challenges of maintaining family unity while pursuing business growth. The importance of regular family meetings and retreats was discussed as a means to foster communication and ensure that all family members are aligned with the business’s strategic direction. The role of external advisors in facilitating these discussions was also highlighted, providing an objective perspective that can help mediate conflicts and guide decision-making. From Heir to Leader – Igniting the Entrepreneurial Flame In the second session, insights were shared by two family CEOs and a non-family CEO, offering diverse views on nurturing an entrepreneurial spirit across generations. The panellists discussed – ■ Maintaining a culture of innovation while respecting the heritage and legacy of the family business. ■ Storytelling was emphasised as a powerful tool for driving growth and enhancing the quality of life for employees and the community. ■The role of meritocracy in leadership transitions, ensuring that roles are earned rather than inherited. ■ Learning on the job and being part of decision-making processes from an early age were identified as effective ways to prepare the next generation for leadership. ■The challenges of replicating the founder’s passion while allowing new generations the freedom to express their ideas and innovations. The panellists also explored the importance of mentorship and education in cultivating entrepreneurial leaders. They shared examples of successful mentorship programs and educational initiatives that have helped bridge the gap between generations, ensuring that the next generation is equipped with the skills and knowledge needed to lead the business into the future. The role of external networks and partnerships in fostering innovation was also discussed, highlighting how collaboration with other businesses and organisations can bring fresh perspectives and drive growth. Wealth, Wisdom, and Wellbeing – The Evolving Role of the Family Office This discussion featured experienced family office executives and KPMG’s Global Head of Family Office, offering a comprehensive view of the dynamic landscape of family offices. The panellists discussed: ■The importance of flexible governance and a risk-based focus for the family office in supporting the family. ■ Effective communication and early involvement of the next generation were identified as key factors in mitigating surprises and ensuring smooth transitions. ■The role of family office executives as conductors of important relationships and networks was also highlighted, ensuring that the family office remains a supportive ecosystem tailored to the family’s unique needs. ■ As family offices evolve, the need for separate governance structures becomes apparent, especially as families grow into larger consortia. ■The family office serves as both an educational space for wealth management and a safe place for family members to learn and even fail, provided appropriate education is provided. The discussion also delved into the role of technology in enhancing the operations of family offices. Insights were shared regarding how digital tools and platforms can streamline processes, improve communication, and provide real-time insights into financial performance. The importance of cybersecurity was emphasised, with the panellists discussing strategies for protecting sensitive family information. A Balanced Perspective – The Value of Independent Governance Expertise The final panel explored the crucial role of independent governance in family enterprises. Independent directors, trustees, and investment advisors bring a wealth of experience, objectivity, and specialised knowledge, offering balanced perspectives that are essential for sound decision-making. The panellists discussed: ■ How independent role-players ensure alignment between family interests and business objectives, fostering transparency, accountability, and long-term sustainability. ■The challenges of balancing family interests with fiduciary responsibilities, enhancing governance structures, and facilitating smooth leadership transitions. ■The importance of adapting to changing dynamics and preparing for future governance trends, emphasising the skills and qualities necessary for success in this evolving landscape. The panellists shared examples of how independent governance has led to improved decision-making and strategic outcomes, reinforcing the value of bringing external perspectives into family enterprises. They also addressed the role of independent governance in managing family dynamics and mitigating conflicts. Strategies were shared for building trust and credibility with family members, ensuring that independent advisors are seen as valuable partners in the family and the business’s success. Concluding Thoughts The KPMG Family Business Conference provided a platform for family business leaders to share experiences and strategies for navigating change and transition. By fostering open dialogue and collaboration, the conference reinforced the importance of aligning family values with business goals to ensure long-term success and sustainability. The diverse generational perspectives and expert insights offered by the panellists enriched the discussions, highlighting the evolving challenges and opportunities faced by family businesses today. As we reflect on the insights and strategies shared during the conference, we encourage family business and family office members to consider how these key takeaways can be applied to their own unique contexts. Should you wish to discuss any of these topics further, please feel free to reach out to the KPMG Private Enterprise team. Alan Barr CA(SA), Partner: Head of KPMG Private Enterprise (Africa & South Africa) T: +27 (0)83 388 6404 E: Alan.Barr@kpmg.co.za Creagh Sudding, International Tax, Lead: Business Families,  KPMG Private Enterprise South Africa T: +27 (0)66 010 8755 E: Creagh.Sudding@kpmg.co.za W: https://kpmg.com/za

Boasting 11 golf courses, great accommodation, and an enviable subtropical climate year-round, the KZN South Coast has rightfully earned its title as ‘The Golf Coast’. This year, from 25 to 28 November, the KZN South Coast will witness the ultimate battle for golfing supremacy at the Lifestyle Developers SA Women’s Masters 2025, supported by South Coast Tourism & Investment Enterprise. The nation’s most elite lady professionals descend upon two championship venues – Southbroom Golf Estate and San Lameer Golf Estate – for a four-day spectacular that promises to redefine women’s professional golf in Southern Africa. This not only boosts local tourism but also unlocks significant investment potential for the region. “We are incredibly proud, as South Coast Tourism & Investment Enterprise [SCTIE], to welcome one of the most prestigious women’s professional golf tournaments on the KZN South Coast,” said Dr Vusumuzi Sibiya, CEO of SCTIE.  “Events such as these continue to position the region as a top MICE [Meetings, Incentives, Conferences, and Events] destination while fulfilling our dual mandate of promoting the diverse tourism offerings and unique investment opportunities found here. Through the Lifestyle Developers SA Women’s Masters 2025, we’re excited to unlock more growth on the KZN South Coast.”   Visionary Leadership Driving Transformation The SA Women’s Masters carries the weight of history – established and sanctioned by the Women’s PGA of South Africa in 1996, it stands as the second oldest women’s professional golf tournament in Southern Africa. This year’s championship returns to ‘The Home of Women’s Golf’ on the KZN South Coast, where champions have been crowned and careers have been forged. Jenny Havenga, owner of Lifestyle Developers and Lifestyle Golf, brings both championship credentials as a former provincial golfer and business acumen as a leading property developer to this transformative event. Her company’s recent deal with SCTIE positions the South Coast as a prime international destination through integrated golfing and property platforms. “We are committed to hosting this annual tournament in this beautiful part of the world,” Havenga explained. “The all year-round subtropical climate, the highest number of Blue Flag beaches in KZN, great golf courses, and unmatched natural beauty make it the ultimate destination for visitors, sports enthusiasts, and homebuyers! We’re looking forward to another spectacular event, and encourage people to book early!” Dr Vusumuzi Sibiya said SCTIE would continue to support such MICE events on the KZN South Coast, which unlock more growth through investment opportunities, such as: ■ Accommodation and product expansion through event packages. ■ Transport services such as airport transfers, parking solutions, and on-day shuttles. ■ Event sponsorship, corporate hospitality, and on-site exposure. ■ Pop-up markets offering local cuisine, beer zones, and local merchandise. ■ Tourism experiences beyond the event such as curated day- trip bundles. CHAMPIONSHIP PACKAGES Transform this November into an unforgettable golfing adventure: SA Women’s Masters Stay & Play Package ■ 3-night luxury accommodation in a 3-bedroom villa at San Lameer Villa Rentals (Nov 24-27) ■ 2 Pro-Am rounds at Southbroom Golf Estate (25th) and San Lameer Golf Estate (26th) ■ Access to the SA Women’s Masters Pro tournament at San Lameer (Nov 27-28) ■ Premium hospitality including welcome refreshments and exclusive golfing gifts ■ Green fees, shared golf carts, and Halfway House ■ Prize-giving dinner featuring spectacular prizes valued at over R50K Package Price: From R4 550 per golfer 2-Day SA Women’s Masters PRO-AM ■ 2 Pro-Am rounds at Southbroom and San Lameer ■ Complete hospitality experience with refreshments and gifts ■ Green fees, golf cart sharing, and Halfway House ■ Prize-giving dinner with fantastic prizes up-for-grabs! 2 Day Pro-Am Price: R2 550 per golfer For bookings, branding and sponsorship opportunities, contact Jenny Havenga at jenny@lifestylegolf.co.za | 083 411 7237. W: www.lifestylegolf.co .z

The Minara Chamber of Commerce is proud to announce the finalists for the 2025 Minara Business Recognition Awards, a prestigious platform honouring excellence, innovation, and leadership across South Africa’s diverse business and professional landscape. Celebrating its 25th milestone year, the Minara Chamber continues its tradition of recognising individuals and organisations who exemplify entrepreneurial spirit, resilience, and meaningful contributions to both economic development and societal well-being. The 2025 finalists represent a dynamic cross-section of industries, reflecting the breadth of talent and enterprise within our community. Finalists have been named in the following categories:  Business Entity of the Year – Large ■ Gorimas ■ HBZ Bank ■ Farm Fresh Chickens Business Entity of the Year – Medium ■ Valternative Energy ■ Africa Flavours Distributors (Pty) Ltd ■ Iqlaas Foods Business Entity of the Year – Start-up ■ Racket Rescue ■ Plastimed ■ Krypton Web Businessperson of the Year ■ Fathima Gani ■ Ismail Simjee ■ Abdul Gani Rahman Businesswoman of the Year ■ Amina Abrahams ■ Salma Mahomed Young Achiever of the Year ■ Rishaad Joosab ■ Zaid Paruk Community Builder of the Year ■ Hafsa Carrim ■ Hoosein Saloojee ■ Shamsudeen Moola Professional Achiever of the Year ■ Aziz Tayob ■ Ebrahim Asmal ■ Mumtaz Peerbhay The Chamber is especially honoured to present the 2025 Lifetime Achiever Award to Dr Imtiaz Sooliman, founder of Gift of the Givers, in recognition of his exceptional humanitarian work and visionary leadership that continues to inspire South Africans and global citizens alike. This year’s awards received a record number of high-calibre nominations, a testament to the enduring strength, talent, and innovation within South Africa’s business and professional communities. Following a rigorous adjudication process, winners will be announced at the Awards Ceremony and Gala Dinner, to be held on Friday, 24 October 2025 in Durban, where the keynote address will be delivered by respected business leader Lincoln Mali. The Minara Chamber extends its sincere gratitude to its Platinum Sponsor, Standard Bank, and to supporting partners Adams & Adams, Bryte Takaful, IBV Group, and AMKA Group. The awards will be broadcast through our media partners Hilaal TV, Radio Islam, and Radio Al Ansaar. This prestigious event will bring together the nation’s leading business minds, entrepreneurs, professionals, and community champions for an unforgettable evening of recognition, inspiration, and celebration. For further information, corporate bookings, or advertising opportunities, please contact us at awards@minara.org.za or visit www.minara.org.za

There has long been a debate whether a company vision is simply a cheesy plaque on the wall, or a tool for real, positive behavioural change. Here are some of the most inspirational (and effective) vision statements from globally recognised organisations. Each one is short, sharp, and powerful enough to shape strategy and culture. TESLA – To accelerate the world’s transition to sustainable energy. NIKE – To bring inspiration and innovation to every athlete in the world. (If you have a body, you are an athlete.) GOOGLE – To organise the world’s information and make it universally accessible and useful. LINKEDIN – Create economic opportunity for every member of the global workforce. IKEA – To create a better everyday life for the many people. APPLE – To make the best products on earth and to leave the world better than we found it. AMAZON – To be Earth’s most customer-centric company, where customers can find and discover anything they might want to buy online. MICROSOFT – To help people and businesses throughout the world realize their full potential. META (FACEBOOK) – To give people the power to build community and bring the world closer together. NETFLIX – Becoming the best global entertainment distribution service. SPOTIFY – To be a cultural platform where professional creators can break free… LEGO – A global force for Learning-through-Play. ADOBE – Changing the world through digital experiences. UBER – We ignite opportunity by setting the world in motion. RED BULL – To inspire and empower people to push their limits – in sports, culture, and business. SPACEX – To make humanity multiplanetary. TED – Spread ideas. SHOPIFY – To make commerce better for everyone. SALESFORCE – “Providing organizations with the power to know.” DISNEY – To entertain, inform and inspire people around the globe through the power of unparalleled storytelling. Notice how these aren’t corporate waffle. They’re clear, inclusive, and visionary enough to stretch across decades.  Why Vision Matters A vision statement is more than branding, it: ■ Sets Direction – a true North that keeps leaders and teams aligned. ■ Drives Decisions – when faced with tough choices, the vision reminds you of what’s most important. ■ Builds Culture – people want to belong to something bigger than themselves. That’s why the best vision statements aren’t complicated. They don’t need jargon. They simply tell you where the organisation is heading – and why it matters. Our Vision at ActionCOACH Business Coaching At ActionCOACH, our vision has been the same for over 32 years: “World Abundance Through Business Education.” ■ It’s not just a slogan – it’s a compass. ■ It enrols people into a community of business owners, coaches, and leaders who want to make a difference. ■ It inspires us every day to help entrepreneurs grow profitable businesses that work without them, freeing up time, creating jobs, and ultimately changing | lives. ■ It’s the reason why thousands of coaches and team members across the globe show up every day with passion. And it’s the reason why our clients – whether in KZN, southern Africa, Europe, the US, or beyond – can see their businesses as vehicles for something bigger. The Takeaway If your vision statement doesn’t make people sit up, smile, or feel proud – go back to the drawing board. Great vision statements are short. They’re bold. They enrol and inspire. And, as these examples prove, they can turn a business into a movement. So here’s the question: What is your vision? And does it make people want to follow you? Need a Second Pair of Eyes? If you want an assist, either acid-testing your existing vision, or crafting something new, I’d be happy to help. We offer a complimentary consult to business owners serious about building “legacy businesses” – operations that can outlive the owner. Let’s explore what’s possible. To your success: Trevor Clark T: +27 (0) 31 266 2258 E: mastery@actioncoach.com W: www.mastery.co.za

KwaZulu-Natal (KZN) has earned the title of being South Africa’s most dangerous province for cash in-transit robberies, which the statistics confirm. But it’s the images that stay burned in our minds – the burnt-out vans, bullet-riddled cars, and the terrified motorists ducking for cover on our highways. These are not victimless crimes. Each heist plays out like a battlefield scene, putting ordinary citizens in the line of fire. Why KZN? Our province is crisscrossed with cash-heavy transport routes, the N2, N3 and N11, perfect escape corridors for syndicates. Organised gangs, often working with insider knowledge, execute these heists with military precision. This precision coupled with stretched policing resources, long rural routes with poor surveillance, and the fact that South Africa still relies heavily on cash transactions, gives us a recipe for disaster.  The Ripple Effect For businesses, every heist pushes up insurance premiums and operating costs. For communities, it breeds fear and wears down confidence. For investors, it’s another red flag about investing in KZN. And for the average motorist caught near one of these literally explosive incidents, the consequences can be fatal. How The Public Can Stay Safe While the frontline battle belongs to law enforcement, the man in the street can take practical steps to avoid becoming an innocent bystander. ■ Keep your distance from Cash In Transit (CIT) vans. Don’t tailgate or linger nearby them. ■ Be alert, if you notice vehicles boxing in a CIT van or driving erratically, slow down and create space, avoid getting caught up in the battle. ■ If shooting starts, stop at a safe distance, stay low, and use cover. Don’t risk your life trying to video or approach the scene, these syndicates are armed to the hilt. ■ As we head into the festive season, when CIT heists typically rise, caution and awareness become even more critical.  If You’re Caught In The Crossfire Stay calm. Remain inside your vehicle if safe or get low behind solid cover. Avoid sudden movements that may draw attention. Once the scene is secure, discreetly share any useful observations with the police, details such as vehicle types, colours, approximately how many suspects and their description, the direction of escape. Resist the urge to post videos on social media; it can compromise investigations, give such video evidence to the police as soon as you can. Final Thought Cash-in-transit robberies are not just a police problem or a business risk. They are a public danger that turns everyday commutes into potential war zones. Until authorities win the f ight against these syndicates, awareness and caution remain our best protection. Will it get better? In the short term, probably not, syndicates are entrenched, and policing resources remain stretched. In the medium term, coordinated crackdowns, better intelligence, and private public partnerships could begin to tip the balance. In the long term, only broader economic reform and a reduction in the cash-driven economy will drain the lifeblood of these crimes. In KZN today, vigilance isn’t paranoia, it’s survival. T: +27 (0)31 109 1888 E: care@mobiventures.co.za W: www.mobiventures.co.za

Now in its sixth year, the KZN Top Business Women 2025 is proudly powered by the Women of Africa Group, Morar Incorporated and Absa, and supported by DRG. T he initiative recognises and celebrates the achievements of KwaZulu-Natal’s most dynamic and inspiring women – leaders, entrepreneurs, and professionals who are making a difference in both business and society. According to Lesedi Metsoamere, Absa KZN Regional Executive for Private Banking, the true value of KZN Top Business Women lies in recognition, inspiration, and connection. “It spotlights women who are quietly but powerfully transforming their sectors. It also provides relatable role models for young women and future leaders. And it creates opportunities for entrepreneurs to network, collaborate, and access new markets – which is one of their biggest challenges outside of funding.”  Adv. Pria Hassan, Group CEO Women of Africa Group, noted that the platform has also shifted perceptions of women’s roles in the province. “KZN is one of the most thriving provinces, yet the role of women has often been underestimated. This event showcases women from rural areas to corporate leaders, all of whom drive the economic hub of KZN. It is about teaching women that they can lean on each other. T hey are not competitors in the room, but sisters.”  Jennifer Reddy, CEO Morar Incorporated, shared her personal perspective, having been a nominee herself. “In 2022, I was listed as a nominee. At the time, I did not fully grasp the value, but as my career progressed, I realised what an uplifting movement this is. Women in business are competing on many levels, often in male-dominated professions. For us to uplift KZN, to make it a brand on its own, and to showcase our businesswomen is incredibly valuable.”  Only forty women are selected each year, and each participant participates in a photographic session, a video interview, and a webinar. Their stories are collated into a coffee table book. The women also receive recognition on social media – providing personal branding and marketing exposure. The webinar dates are the 16, 23 and 30 October at 18H00. Each woman will participate in one of the webinars and be  provided the opportunity to introduce themself and their business. To register to attend these online events visit https://www.kzntopbusiness . com/save-my-spot The 2025 celebrations culminate in a prestigious gala dinner on Thursday, 13 November at the Radisson Blu Hotel Durban Umhlanga, where this year’s nominees will be honoured for their invaluable contributions to Grant Adlam, Adv Pria Hassan, Lesedi Metsoamere and Jennifer Reddy perceptions of women’s roles in the province. “KZN is one of the most thriving provinces, yet the role of women has often been underestimated. This event showcases women from rural areas to corporate leaders, all of whom drive the economic hub of KZN. It is about teaching women that they can lean on each other. They are not competitors in the room, but sisters.” Jennifer Reddy, CEO Morar Incorporated, shared her personal perspective, having been a nominee herself. “In 2022, I was listed as a nominee. At the time, I did not fully grasp the value, but as my career progressed, I realised what an uplifting movement this is. Women in business are competing on many levels, often in male-dominated professions. For us to uplift KZN, to make it a brand on its own, and to showcase our businesswomen is incredibly valuable.” Only forty women are selected each year, and each participant participates in a photographic session, a video interview, and a webinar. Their stories are collated into a coffee table book. The women also receive recognition on social media – providing personal branding and marketing exposure. The webinar dates are the 16, 23 and 30 October at 18H00. Each woman will participate in one of the webinars and be KwaZulu-Natal.

The annual KZN Top Business Portfolio was officially unveiled at an exclusive breakfast event held on 17 September at the IBV Privé Lounge in Park Square, Umhlanga. The occasion brought together business leaders, economists, and influencers to engage in meaningful dialogue around this year’s thought-provoking theme, Beyond the Noise. The theme set the tone for a morning of insightful reflection and robust discussion on key aspects shaping South Africa’s economic landscape. A distinguished panel of experts shared their perspectives, encouraging guests to look past daily distractions and focus on strategies for sustainable growth and collaboration.  The panel, hosted by Jeff Blackbeard, featured Maarten Ackerman, chief economist and advisory partner at Citadel Investment Services; Angelika Goliger, Africa chief economist at EY; Moeletsi Mbeki, renowned political analyst; and Hamish Erskine, chief executive officer of Dube TradePort Corporation. Together, they offered a multifaceted analysis of the current economic climate, highlighting both challenges and opportunities for progress. As discussions unfolded, the speakers emphasised the importance of leadership, innovation, and collective vision in driving meaningful change within the province and the nation as a whole. Concluding on an inspiring note, the event called on attendees to ‘move beyond the noise’ to concentrate on what truly matters and to recognise that real opportunities emerge when clarity, collaboration, and purposeful action take centre stage. For more information visit: www.kzntopbusiness.com

Invest Durban, the City of Durban’s official investment promotion agency, is proud to announce its participation in the AFSIC – Investing in Africa Conference and Expo in London from 14 to 15 October. This engagement form part of Invest Durban’s broader investment promotion and stakeholder engagement strategy aimed at attracting Foreign Direct Investment (FDI) into the city, strengthening global partnerships, and positioning Durban as a leading African investment destination. The strategic objective of participating in these two high level events is to: ■ Promote Durban as a premier African investment destination. ■ Position the city’s flagship and catalytic infrastructure projects to international investors. ■ Advance Durban’s blue economy initiatives, particularly in marine infrastructure and coastal tourism. ■ Strengthen inter-governmental and international stakeholder partnerships. ■ Leverage high-level networking opportunities to generate actionable investment leads. Durban at AFSIC 2025 The AFSIC – Investing in Africa Conference and Expo is the continent’s most influential annual investment platform held outside Africa. The 2025 edition, hosted by Africa Events Limited (AEL) in London, will convene over 1,500 delegates, including institutional investors, development finance institutions (DFIs), business leaders, and senior government representatives. AFSIC 2025 targets pan-African and United Kingdom /European Union based investors and trade stakeholders Under the theme “Business, Chambers, Government: Partners for Prosperity,” AFSIC 2025 will focus on strengthening collaboration across the public and private sectors to accelerate inclusive growth, unlock infrastructure investment, and build sustainable economies across Africa. The conference offers an advanced digital networking environment through the African Investments Dashboard and the Africa Business Opportunities Dashboard, enabling matchmaking between African projects and global investors. These tools address the continent’s well-known challenge of moving projects from feasibility to financial close – an issue highlighted in McKinsey’s Solving Africa’s Infrastructure Paradox report. Key features of AFSIC 2025 include: ■ Over 350 expert speakers covering infrastructure, fintech, agriculture, energy, logistics, and urban development. ■ Sector-specific workshops and country-focused investment sessions. ■ Access to the AFSIC Event App to pre-arrange investor meetings. ■ A platform for cities to showcase investment pipelines and public-private collaboration opportunities. As a Silver Partner, Invest Durban will enjoy prominent branding, access to targeted investor sessions, and high level networking opportunities. This participation positions Durban among Africa’s most active and credible investment hubs, enhancing its visibility to institutional investors seeking impactful, bankable projects. Invest Durban’s participation highlights the City’s commitment to strategic global engagement, sustainable development, and positioning Durban as a city of choice for international investors. Strengthening Durban’s Ocean Economy Following AFSIC, Invest Durban will participate in the ICOMIA World Marinas Conference (WMC) in Venice from 15 to 17 October 2025. Hosted by the International Council of Marine Industry Associations, the event attracts global leaders in marina development, marine infrastructure, coastal tourism, and blue economy financing. The 2025 conference will explore themes of sustainability, innovation, and investment in the marina industry, with participation from government agencies, city planners, developers, financiers, and private sector operators. Durban’s engagement in ICOMIA directly supports the city’s blue and ocean economy strategy, particularly as it advances new marine and waterfront precincts. Participation will enable: ■ Benchmarking of international marina infrastructure standards. ■ Insights into innovative public-private partnership models. ■ Access to specialised blue economy financiers and infrastructure funds. ■ Exposure to best practices in coastal climate resilience and sustainable tourism. According to Invest Durban Russell Curtis, attendance at ICOMIA “presents an opportunity to strengthen Durban’s global positioning in coastal investment, enhance sector-specific expertise, and attract partnerships that support sustainable marine infrastructure.” Global Platforms, Local Impact Through its presence at AFSIC and ICOMIA, Invest Durban is strategically combining continental investor engagement with sectoral focus in marine and coastal development. These platforms will not only reinforce Durban’s reputation as a gateway for African investment but also provide a channel to attract funding for projects that drive economic growth, job creation, and long-term sustainability. As Curtis notes, “Durban’s international visibility is vital to ensuring that our city continues to attract quality investment. By showcasing our catalytic projects on global platforms such as AFSIC and ICOMIA, we are securing the partnerships and investor confidence needed to build a more resilient and inclusive economy.” Invest Durban’s participation highlights the City’s commitment to strategic global engagement, sustainable development, and positioning Durban as a city of choice for international investors. Russell Curtis E: Russell.Curtis@durban.gov.za W: www.invest.durban | www.durban.gov.za

Operation Vulindlela was introduced by the South African Government to remove structural barriers that have long hindered inclusive and sustainable economic growth. Since its inception, the initiative has focused on accelerating reforms in key sectors such as energy, transport, and water. Phase 2, announced in May 2025, shifts attention to addressing the widespread dysfunction in municipalities and the collapse of critical infrastructure that has undermined service delivery across the country. A central pillar of this phase  is comprehensive water infrastructure reform, aimed at improving water governance and ensuring reliable access to clean, safe water. The water reform agenda under Operation Vulindlela Phase 2 seeks to: ■ Address the root causes of service delivery failures ■ Protect the quality of drinking water ■ Strengthen institutional capacity and the management of water resources ■ Improve regulatory oversight of water services ■ Encourage greater private sector participation and investment in the water sector In November 2023, the Minister of Water and Sanitation published the Water Services Amendment Bill for public comment. In September 2025, Cabinet approved the Bill for submission to Parliament which is a significant step toward updating South Africa’s outdated legislative framework governing water supply and sanitation. T he Water Services Act of 1997, introduced shortly after the democratic transition, sought to guarantee access to basic water and sanitation services for all South Africans in an efficient, equitable, and sustainable manner. However, despite its good intentions, the Act’s objectives have not been fully realised. Many municipalities, designated under the Act as water services authorities, have since become f inancially and operationally dysfunctional, leading to widespread service delivery breakdowns. Historically, outside municipal boundaries, industries such as sugar mills, paper mills, and mining companies operated their own water purification and wastewater treatment facilities. In many cases, these privately managed systems continue to provide essential services. Yet under current law, private entities can only provide water services with municipal approval, a requirement that has often stalled investment and innovation. Another pressing issue is the ability of municipalities to impose surcharges on water services supplied by water boards, even when the municipality does not actually provide the service. This practice undermines the financial viability of major water projects, inflates costs for bulk consumers, and deters private sector involvement. It is widely viewed as wasteful and counterproductive to national economic policy. The new Water Services Bill will need to confront and eliminate this practice to restore confidence in the water sector. T he Bill also introduces a new licensing framework for water service providers. Instead of municipalities granting approvals, the authority to issue operating licences will shift to the Department of Water Services. While this change may promote more consistent regulation, there are concerns about whether the Department will be more efficient than local authorities, given historical delays in issuing water use licences that have impeded development in the past. In conclusion, Phase 2 of Operation Vulindlela and the Water Services Amendment Bill mark an important step toward reforming South Africa’s failing water infrastructure. However, the current proposals may not go far enough. Unless long-standing issues such as municipal surcharges and bureaucratic inefficiencies are decisively addressed, the country’s water sector risks remaining trapped in a cycle of underinvestment, mismanagement, and declining service delivery. Should you require advice or assistance, please contact Michael Jackson on T: +27 (0)31 536 8512 E: mjackson@coxyeats.co.za W: www.coxyeats.co.za

Projects often run into delays. A common question that arises is whether consultants/ professionals can claim additional fees due to the period of delay. Often, consultants agree to a value-based fee, meaning that the amounts they can charge are linked to the overall value of the work. In circumstances of delay, consultants often feel that they are automatically entitled to revert to and claim time-based fees. This is not always the case. Peter Barnard, a partner at Cox Yeats, clarifies the circumstances under which time-based fees can be claimed across various disciplines. Each professional discipline is governed by its own Act. Government Gazettes containing guidelines and tariffs are published in terms of applicable Acts. T he first crucial point is that the tariffs do not automatically apply to an agreement unless they are expressly agreed to between the parties. Where they are specifically incorporated, there are specific circumstances which must be met before time-based fees can be charged. I deal with each below. Architectural Services Government Gazette No. 51352 dated 4 October 2024 provides for a Guideline for Professional Fees in terms of Section 34 (2) of the Architectural Profession Act, 2000 Act 44 of 2000 (the Architectural Guidelines). Clause 27 of the Architectural Guidelines entitles Architects to charge time-based fees if the initial contract period is extended by more than 10%, through no fault of the architect. The Architectural Guidelines further record at clause 19 that where the fees for the architectural professional services are time-based fees, the hourly rates as set out in the guideline for professional fees may apply. Whenever these rates are revised, the new rates may apply to work performed after the effective date of such revision. Quantity Surveying Services Government Gazette No. 52152 dated 21 February 2025 details the amended Guideline Tariff of Professional Fees Quantity Surveying Profession Act 2000 (the Quantity Surveying Guidelines). Clause 4.3 of the Quantity Surveying Guidelines entitles Quantity Surveyors to charge time-based fees if the actual construction period less any extension of time allowed for additional measured work exceeds the initial contractual construction period by more than 10 per cent, through no fault of the quantity surveyor, then an additional fee shall be charged, which fee shall be calculated at the hourly rates according to the guidelines together with all related reimbursable expenses. The additional fee must, however, be agreed to in writing with the client prior to the commencement of additional work and/or extension of time. Project and Construction Management Services Government Gazette No. 42697 dated 13 September 2019 and titled Amended Guideline Scope of Services and Recommended Guideline Tariff of Fees for Construction Health and Safety Professionals Registered in terms of the Project and Construction Management Professions Act, 2000, apply to professional construction project management services, records at clause 6.5 that Project and Construction Managers may only charge time based fees for additional services in the event of the extension of the initial contract period where there has been agreement in this regard. Engineering Services Government Gazette No. 44333 dated 26 March 2021 and titled Guideline Scope of Services and Tariff of Fees for Registered Persons 2021 records at clause 3.3 that the agreement on the scope of additional services and remuneration must be agreed in writing, preferably before the services are rendered. Clause 4.3 records that unless agreed otherwise in writing, the fees for additional services are calculated on the basis of time and actual costs. The application of time-based fees for additional services in the event of an extension of the initial contact period should therefore be agreed in advance. All professionals should keep the above in mind prior to signing Consultancy Agreements. Learn more about the firm: www.coxyeats.co.za

The iLembe Chamber of Commerce, Industry and Tourism is excited to announce that The Entrepreneur 2025 Finalists will be showcasing their innovative businesses at the 15th Annual The Entrepreneur Exhibition. This prestigious event provides a platform for entrepreneurs to display their products and services, connect with potential partners, and engage with the broader business community. This impactful annual competition is designed to elevate local entrepreneurs, build lasting impact, and unlock real growth. Selected business owners participated in a ten-week entrepreneurial development programme accredited by the University of KwaZulu-Natal (UKZN), which included tuition. The programme’s digital partner is Ballito ISP. The competition’s winners will be judged on the perceived potential of their businesses, programme participation and attendance, as well as the quality of the business plan submitted. Among others, finalists include: ■ Londiwe Ntuli, Zetenem Beauty Spa ■ Gugu Khumalo, Khetho Transport Solutions ■ Khumbuzile Sithole, AG Lina Farming ■ Bongiwe Mpanza, Mawazo Designs ■ Siyabonga Mthembu, The Bliss ■ Njabulo Makhathini, Dondaon ■ Vee Mafunda, VMT Petroleum ■ Nokubonga Nkwanyana, VV Nothando The iLembe Chamber invites: ■ Members of the public ■ Potential investors ■ Aspiring entrepreneurs ■ Businesses interested in exhibiting or exploring strategic business linkages Don’t miss this opportunity to network, collaborate, and celebrate local enterprise. The programme is proudly presented in partnership with Enterprise iLembe, Airports Company South Africa, The North Coast Courier, Siza Water, AVON Peaking Power, and ENGIE Peakers Operations. For more information, contact: Miss Thobile Nxumalo Executive Manager: Investment Promotion & Marketing M: +27 (0) 82 468 5868 W: Thobile@enterpriseilembe.co.za W: www.enterpriseilembe.co.za

Welcome to the October 2025 edition of Business Sense, a publication that continues to showcase the innovation, leadership, and entrepreneurial excellence that defines KwaZulu-Natal’s dynamic business community. Each issue is a reminder that our province is home to extraordinary people and organisations that lead with purpose and make an enduring impact. This was especially evident at the recent breakfast launch of the KZN Top Business Portfolio – see page 8. In this edition, we highlight individuals and companies who are navigating an evolving economic landscape with resilience and insight. From Absa’s Lesedi Metsoamere, who leads with compassion and conviction, to our editorial partners offering critical guidance on labour law, financial intelligence compliance, and professional services, the common thread is one of empowerment through knowledge and collaboration. Our cover feature on Lesedi Metsoamere, Regional Executive for Private Wealth Banking at Absa Group, captures a story of determination, leadership, and authentic connection. Her words remind us that leadership is not just about strategy and results but also about empathy and service. This message resonates strongly in the current business climate, where adaptability and human understanding are essential drivers of success. This issue explores themes central to the province’s growth – from discussions around professional integrity, financial transparency, as well as the need for personal vigilance on the road. These include: ■ Unfair dismissal in South Africa, page 4 ■ When can consultants charge time-based fees? page 5 ■ Powering financial agility and growth, page 6 ■ How HR can safeguard your organisation against FIC violations, page 6 ■ Private public partnerships, page 7 ■ The out-sourced in-house accountant, page 10 ■ Vision statements that actually inspire, page 12 ■ A scientific approach to building better businesses, page 16 A particularly inspiring highlight is our focus on women through the KZN Top Business Women 2025 initiative. See page 9. This platform celebrates women who are breaking barriers and creating opportunities for others. It is both a celebration and a call to action, reaffirming that when women thrive, businesses and communities prosper. We are also proud to acknowledge Tyson Properties on reaching an impressive milestone of 20 years of excellence in the property industry. From humble beginnings to becoming one of South Africa’s most trusted real estate brands, Tyson Properties has built its legacy on professionalism, integrity, and an unwavering commitment to clients and communities. Over two decades, the company has expanded its footprint, nurtured its people, and adapted to a fastchanging market while staying true to its founding values. The special supplement in this issue pays tribute to their journey and celebrates their continued success as a proudly KwaZulu-Natal business that has set benchmarks in service and innovation. As we approach the final months of 2025, the message is clear – the future belongs to those who act with clarity, courage, and collaboration. May this edition of Business Sense inform, inspire, and remind us all that our collective efforts continue to shape a province full of promise.