Shaun Norris. (CREDIT: Sunshine Tour) DURBAN (KwaZulu-Natal) – South Africa’s Shaun Norris seized control of the Investec South African Open lead on a day when countryman Dylan Naidoo surged into contention with a 61, and England’s Dale Whitnell stunned the field with his two holes-in-one in a single round at Durban Country Club on Friday. By the end of a long day in which the field had to complete the suspended first round and then go straight into the second, Norris finished off his opening 66 and then produced a second round of 64 to lead on 14 under par overall. “I finished off the first round nicely and then just carried that into the second round. I’m hitting the ball nicely and putting myself in good positions where I’m looking at birdie all the time. I’m very happy. I’ve left a few putts out there, but that’s a positive for me because it means we can hopefully still go a little bit deeper,” said Norris. The second round will have to be completed on Saturday morning following the delayed start on day one. But it was one of those remarkable days in the history of this proud championship where anything that could happen pretty much did, including the rare feat of two holes-in-one by the same player in the same round. Whitnell aced the par-three second hole with a seven iron, and then added another ace on the par-three 12th hole with a 50 degree wedge on his way to a second round of 63 and a tournament total of nine under par. His second round started with a birdie, hole-in-one and then an eagle in his first three holes and he went from fighting to make the cut to being right in the hunt for the title. “That was a hot start. I didn’t realise the first hole-in-one went in until I heard the cheers. Then to have a second hole-in-one on the 12th is bizarre. It’s a weird feeling. I now have five holes-in-one, but this is the first time I’ve done so in a tournament. It’s incredible,” he said. One man who also left nothing out there was Naidoo, who went on a scoring frenzy in which he admitted he didn’t even know what his score was at one stage as he signed for a 61 to finish Friday as Norris’s nearest challenger on 13 under par. He’s chasing a DP World Tour title once again after also challenging for December’s AfrAsia Bank Mauritius Open. “It’s crazy. I honestly had no idea what I shot. I was just trying to hit the best shots I could. I had a few spectators ask me on 11 what my score was and I said, ‘No clue’. But this shows me again I’m good enough to compete and I’ve got what it takes at this level,” said Naidoo, who is keenly aware of the history of Durban Country Club and the great Indian golfer Sewsunker “Papwa” Sewgolum’s place therein. “It’s such a beautiful club and we’re lucky to be here, and it’s important to remember the history as well,” he said. Former Investec South African Open champion Branden Grace finished Friday alongside Darren Fichardt and Andrea Pavan on 11 under par, while England’s Sam Bairstow was also on 11 under with 10 holes still to complete before darkness forced a suspension of play. Christiaan Maas produced a masterful 64 to easily lead the amateur race for the Freddie Tait Cup on 10 under par overall, while another former Investec South African Open champion in Brandon Stone is just five shots off the lead. SCORES - INCOMPLETE ROUND 14 - Shaun Norris 66 64 -13 - Dylan Naidoo 70 61 -11 - Darren Fichardt 63 70, Andrea Pavan 67 66, Branden Grace 65 68, Sam Bairstow 65 (-4) [8] -10 - Christiaan Maas 70 64, Haotong Li 66 (-4) [9] -9 - Marcel Siem 65 70, Dale Whitnell 72 63, Brandon Stone 68 67, John Parry 66 69, Justin Harding 67 (-4) [15], Todd Clements 66 (-3) [9], Fredrik From 65 (-2) [8] -8 - Troy Merritt 69 67, Thomas Aiken 68 68, Jayden Schaper 66 (-2) [10] -7 - Joost Luiten 67 70, Jaco Ahlers 70 67, Keith Horne 65 72, Marco Penge 68 (-3) [15], Ivan Cantero 68 (-3) [15], Rhys West 70 (-5) [15], Nikhil Rama 68 (-3) [13], Richie Ramsay 66 (-1) [12], Shubhankar Sharma 66 (-1) [12], Joel Girrbach 68 (-3) [9], Laurie Canter 69 (-4) [9] -6 - Richard Mansell 71 67, Jacques Blaauw 69 69, David Ravetto 69 69, Jordan Gumberg 68 70, Ugo Coussaud 70 68, Rafa Cabrera Bello 68 (-2) [13] -5 - Nathan Kimsey 70 69, Maximilian Steinlechner 67 72, Jean Hugo 70 69, Jeong Weon Ko 68 71, Michael Hollick 73 66, Lyle Rowe 71 68, Jorge Campillo 69 70, Manuel Elvira 71 68, Scott Jamieson 72 (-5) [15], Gavin Green 70 (-3) [13], Gregorio De Leo 68 (-1) [11], Jacques Kruyswijk 71 (-4) [10], MJ Viljoen 69 (-2) [9], Dean Burmester 69 (-2) [9] -4 - Callum Tarren 71 69, Kazuma Kobori 67 73, Luke Jerling 69 71, Richard Sterne 68 72, Yurav Premlall 72 68, George Coetzee 71 69, Romain Langasque 69 71, Keelan van Wyk 69 71, Martin Vorster 74 (-6) [16], JC Ritchie 69 (-1) [13], Sean Crocker 72 (-4) [12], JJ Senekal 68 (Par) [12], Charl Schwartzel 72 (-4) [9], Andy Sullivan 71 (-3) [9], Dylan Frittelli 69 (-1) [8], Freddy Schott 70 (-2) [8], Malcolm Mitchell 70 (-2) [8], Aaron Cockerill 69 (-1) [7] Missed the cut:- -3 - Jonathan Broomhead 71 70, Daniel van Tonder 76 65, Connor Syme 72 69, Casey Jarvis 72 69, Kieran Vincent 70 (-1) [9], Jens Dantorp 69 (Par) [7] -2 - Ruan Korb 73 69, Alfredo Garcia-Heredia 72 70, Zander Lombard 67 75, Ricardo Gouveia 73 69, Calum Hill 74 68, Jacques P de Villiers 73 69, Angel Ayora 72 70, Rupert Kaminski 74 (-4) [13], Alejandro Del Rey 74 (-4) [11], Nicolas Colsaerts 69 (+1) [11], Robin Williams 72 (-2) [10], Jamie Donaldson 68 (+2) [10] -1 - Peter Karmis 72 71, Rhys Enoch 73 70, Benjamin Follett-Smith 72 71, Matthias Schwab 75 68, Louis Albertse 74 69, Jovan Rebula 73 70, Matthew Baldwin 71 (Par) [13], Heinrich Bruiners 71 (Par) [12], Wilco Nienaber 72 (-1) [7] Par - Kayle Wykes 74 70, Tom Vaillant 74 70, Jaco Van Zyl 71 73, Johannes Veerman 69 75, Kyle McClatchie 74 70, Sentanio Minnie 72 (Par) [13], Martin Couvra 68 (+4) [12], Chris Paisley 74 (-2) [11], Simon Forsstrom 74 (-2) [9], Adrian Otaegui 73 (-1) [7], Oliver Lindell 69 (+3) [7] +1 - Ryggs Johnston 75 70, Martin Rohwer 71 74, Deon Germishuys 71 (+2) [16], Brandon Wu 71 (+2) [14], Kyle Barker 72 (+1) [12] +2 - Bryan Newman 73 73, Ross Fisher 74 72, Ryan Van Velzen 73 73, Keenan Davidse 75 71, Toto Thimba Jnr 73 (+1) [15], Stefan Wears-Taylor 71 (+3) [11], Hennie Otto 74 (Par) [10], Astin Arthur 73 (+1) [9], Kristoffer Reitan 75 (-1) [7] +3 - Brandon Meads 74 73, Stephen Ferreira 73 74, Pieter Moolman 74 73, Bjorn Akesson 74 73, Jordan Burnand 72 (+3) [15], Adrien Saddier 77 (-2) [12], Trevor Fisher Jnr 78 (-3) [11], Oliver Bekker 72 (+3) [11], Joel Moscatel 73 (+2) [8], Francesco Laporta 76 (-1) [7] +4 - Dan Bradbury 72 76, Keagan Thomas 73 75, Neil Schietekat 77 (-1) [15], CJ du Plessis 73 (+3) [11], Ulrich van den Berg 73 (+3) [10], Jean-Paul Strydom 78 (-2) [9], Combrinck Smit 74 (+2) [8] +5 - Charl Barnard 77 72, Quintin Wilsnach 75 (+2) [13], Jack Hawksby 78 (-1) [11], Franklin Manchest 74 (+3) [8] +6 - Jordan Duminy 79 71, Thanda Mavundla 75 75, Ethan Smith 74 (+4) [14], Sean Paxton 75 (+3) [7] +7 - Johan Theron 80 71, Mikael Lindberg 76 (+3) [14] +9 - Joshua Berry 77 76 +10 - Herman Loubser 74 (+8) [16] +12 - Gerhard Pepler 82 (+2) [8], Matthew Spacey 80 (+4) [7] +14 - Robson Chinhoi 83 75 +15 - Albert Venter 81 78, Dylan Mostert 82 (+5) [13] +18 - Tristin Galant 85 (+5) [12] +21 - Steven Le Roux 84 (+9) [16] WDN - Louis de Jager 77 WDN WDN

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Sam Bairstow (left) and Fredrik From. (CREDIT: Sunshine Tour) DURBAN (KwaZulu-Natal) – England’s Sam Bairstow and Sweden’s Fredrik From were simply delighted to be able to tee off their first rounds of the Investec South African Open, never mind share the clubhouse lead by the end of the first day at Durban Country Club on Thursday. It required a monumental effort by the course maintenance staff and the eThekwini Municipality to take what was a waterlogged golf course following a deluge of rain the day before, and work through the night for an almost miraculous transformation of this layout, with only a three hour delay of the tee times.  Bairstow and From took full advantage and opened with rounds of seven-under-par 65 to lead, while South Africa’s Darren Fichardt was also on seven under with four holes to play when darkness forced a suspension of play. The delayed start means the first round will have to be completed on Friday morning, with play scheduled to resume at 08:00. South Africa’s Jayden Schaper, Scotland’s Richie Ramsay, India’s Shubhankar Sharma, China’s Haotong Li and England’s Todd Clements all finished the day on six under par.  But for Bairstow and From, and indeed every professional in the field, it was a miracle that they could even tee off on Thursday.  “The day before I thought there would be no chance of playing, especially seeing the water on 16th hole. But all credit to the maintenance staff for getting the course playable. They did an unbelievable job,” said Bairstow. “I couldn’t believe it this morning when they didn’t call it off, to be honest. They must have worked the whole night pumping hundreds of thousands of litres of water. They did a great job,” added From. Both players did well to drop only one shot in their rounds, while From added two eagles during his 65 on the par-five third and 10th holes. “I hit them both pretty close so it wasn’t too much work. My driver was working very well and it’s the kind of golf course where a good driving game can give you opportunities,” said the man who plays under a Swedish flag but who feels entirely at home in South Africa having spent so many years competing on the Sunshine Tour. “It’s like I’m representing two flags here this week. For that reason it would be great to win,” he said. Behind them, Ramsay has put himself in a great position to claim a second Investec South African Open title following his triumph in 2009. And Schaper has also made a strong claim on this title following a few close finishes in the past. He finished tied sixth while still an amateur in the 2020 Investec South African Open, and also had finishes of tied ninth in 2022 and tied fifth in 2023.  “I’ve got a lot of good memories in this tournament. It’s just one that you want to do well in as our home Open, and this is a great venue for it this week,” said Schaper. Bryan Newman and Christiaan Maas are currently the leading amateurs on one under par but still to complete their first rounds. SCORES - INCOMPLETE ROUND -7 - Sam Bairstow, Fredrik From, Darren Fichardt [14] -6 - Richie Ramsay, Shubhankar Sharma, Jayden Schaper, Haotong Li, Todd Clements -5 - Justin Harding, Joost Luiten [13], Jacques Blaauw [10], Keith Horne [9], Jordan Gumberg [9] -4 - Marco Penge, Ivan Cantero, Rafa Cabrera Bello, Nikhil Rama, Martin Couvra, JJ Senekal, Gregorio De Leo, Jamie Donaldson, Joel Girrbach, Kazuma Kobori [15], Maximilian Steinlechner [14], Marcel Siem [13], Branden Grace [8], John Parry [8] -3 - JC Ritchie, Nicolas Colsaerts, MJ Viljoen, Dean Burmester, Laurie Canter, Dylan Frittelli, Oliver Lindell, Aaron Cockerill, Jens Dantorp, Troy Merritt [15], Andrea Pavan [13], Richard Sterne [13], Yurav Premlall [12], Zander Lombard [12] -2 - Rhys West, Gavin Green, Kieran Vincent, Freddy Schott, Malcolm Mitchell, Alfredo Garcia-Heredia [14], Jean Hugo [13], Jaco Ahlers [12], George Coetzee [10], Thomas Aiken [10], David Ravetto [10], Ryan Van Velzen [9], Brandon Stone [9], Shaun Norris [9], Jaco Van Zyl [9], Jacques P de Villiers [7], Kyle McClatchie [7], Keelan van Wyk [6] -1 - Deon Germishuys, Brandon Wu, Matthew Baldwin, Heinrich Bruiners, Stefan Wears-Taylor, Jacques Kruyswijk, Andy Sullivan, Luke Jerling [15], Nathan Kimsey [15], Callum Tarren [15], Bryan Newman [15], Jeong Weon Ko [13], Christiaan Maas [10], Jorge Campillo [8], Connor Syme [7], Keenan Davidse [7] Par - Jordan Burnand, Scott Jamieson, Sentanio Minnie, Kyle Barker, Sean Crocker, Oliver Bekker, Robin Williams, Charl Schwartzel, Wilco Nienaber, Tom Vaillant [15], Kayle Wykes [15], Dylan Naidoo [13], Peter Karmis [13], Richard Mansell [12], Benjamin Follett-Smith [12], Stephen Ferreira [11], Dale Whitnell [11], Ugo Coussaud [9], Bjorn Akesson [9], Romain Langasque [8], Keagan Thomas [8], Casey Jarvis [7], Jordan Duminy [7], Charl Barnard [7] +1  - Toto Thimba Jnr, CJ du Plessis, Ulrich van den Berg, Astin Arthur, Joel Moscatel, Adrian Otaegui, Brandon Meads [15], Jonathan Broomhead [14], Louis de Jager [11], Martin Rohwer [11], Michael Hollick [11], Dan Bradbury [10], Lyle Rowe [7], Manuel Elvira [7], Thanda Mavundla [6] +2 - Martin Vorster, Herman Loubser, Ethan Smith, Rupert Kaminski, Chris Paisley, Alejandro Del Rey, Hennie Otto, Simon Forsstrom, Combrinck Smit, Franklin Manchest, Ruan Korb [15], Ryggs Johnston [14], Rhys Enoch [13], Ricardo Gouveia [12], Pieter Moolman [9], Johannes Veerman [8], Daniel van Tonder [8], Jovan Rebula [7], Johan Theron [6] +3  - Quintin Wilsnach, Kristoffer Reitan, Sean Paxton, Ross Fisher [11], Louis Albertse [9], Angel Ayora [7] +4 - Mikael Lindberg, Francesco Laporta, Matthias Schwab [10], Calum Hill [10] +5 - Neil Schietekat, Adrien Saddier +6 - Jack Hawksby, Trevor Fisher Jnr, Jean-Paul Strydom +7 - Joshua Berry [14] +8 - Matthew Spacey, Albert Venter [13] +10 - Dylan Mostert, Gerhard Pepler +11 - Roson Chinhoi [13] +12 - Steven Le Roux

Durban Country Club. Credit: Perfect Exposure/Tyrone Winfield. DURBAN (KwaZulu-Natal) – Dean Burmester said it best when he looked out over Durban Country Club and the spectacular staging ahead of this week’s Investec South African Open and declared, “I feel incredibly proud”.  It is indeed a proud moment for Burmester to return as the defending champion of the Investec South African Open. It’s an equally proud moment for South African golf as the revamped Durban Country Club welcomes back a championship that this course has hosted more than any other, and with it this year forming part of the Open Qualifying Series with the leading three players not already exempt for the Major earning a place in The Open at Royal Portrush.  A quality field of Sunshine Tour and DP World Tour players have assembled in Durban to contest for a place in history. A place Burmester is happy to have taken with his own victory in this event.  “I’m just proud to be the defending champion and to stand here as a South African having lifted that trophy. I have my name alongside so many great champions of this event. I’m proud to be here and I’m proud to put up a defence of this special championship,” he said.  “It’s a good field this week, and it’s great that our Open – the second oldest national Open in the world – can draw a field like this. The course has changed a lot since last I played here in 2013. They’ve put in a burn on the back nine which comes into play a lot. They’ve opened up a lot of the bush areas and that’s let the rough grow. You have to be really precise. We’ll get some wind and rain this week so it will be all about managing emotions and conditions and then we’ll see what happens.”  The field is an intriguing mix including three of the top five on the current DP World Tour Race to Dubai Rankings in John Parry, Laurie Canter and Shaun Norris, and every one of the top five on the Sunshine Tour Order of Merit delivered by The Courier Guy. It has a mix of local and international former champions such as Branden Grace, Brandon Stone, Daniel van Tonder and Hennie Otto, as well as England’s Chris Paisley and Andy Sullivan. It has GolfRSA’s leading amateurs such as Jordan Burnand, Christiaan Maas, Astin Arthur, Bryan Newman and Charl Barnard. It will showcase the hope of the Sunshine Tour’s Papwa Sewgolum Class for transformation professionals, with Tristin Galant given an Investec invitation to compete this week. And it will feature players such as Charl Schwartzel who has come close in this championship before and wants to also add his name to the list of greats on this trophy. “These days, any week you tee it up, there is great competition out there. But it’s good. This is our flagship event on the Sunshine Tour, and returning to an iconic venue like this is great. Coming back to this championship as a former winner gives you that goosebump feeling when you walk in here,” said Grace. Tickets are available to buy at https://sunshinetour.com/tickets

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Raksha Laghari, the driving force behind AML Group, has transformed her business from a cement wholesaling and distribution company into a diversified empire encompassing logistics, mining, and construction. Starting with partnerships with local cement giants like Afrisam and PPC, AML expanded to include hardware and construction materials, collaborating with brands such as Marley Roofing and Corobrik. The logistics division, crucial to AML’s operations, grew from two trucks to a fleet of over 50. Venturing into the mining industry, AML became a key supplier of dolerite in Northern Natal and established a reputation in the ready-mix concrete sector. Raksha's leadership, rooted in her educational background and driven by a vision for growth, has been pivotal in navigating the challenges of male-dominated industries. Her philosophy emphasizes understanding every business aspect and empowering her team. Looking forward, Raksha aims to support local production and reduce reliance on imports, encouraging young women to embrace hard work and resilience. Her journey continues, with a commitment to her community and a vision for a lasting legacy in South Africa.

The news mostly focuses on all that is wrong with our beloved country. And make no mistake, we have our challenges. Show me a country that doesn’t? However, there are always two sides to the proverbial coin, and both must be thoroughly considered. So, for this short moment in time, why not look at some of the financial factors we get right. Despite challenges, South Africa’s financial sector has several positive factors that make it a strong and dynamic player in the global economy. Here are some of our key economic strengths: A Well-Regulated and Sophisticated Banking Sector South Africa has one of the most advanced banking systems in Africa, ranked among the top globally for stability and soundness. Several of our major banks like Standard Bank, FirstRand, ABSA and Nedbank operate at international standards. The SA Reserve Bank maintains strict, independent monetary policies, which go a long way to ensuring financial stability. The Johannesburg Stock Exchange (JSE) The JSE remains Africa’s largest and most liquid stock market. It ranks among the top 20 globally by market capitalisation, and offers access to equities, bonds, derivatives and commodities markets. Strong Fintech and Digital Banking Growth We are a leader in fintech innovation in Africa with startups seeing growth in the branchless banking, SME lending and mobile payment solutions space. Mobile banking adoption is very high with banks offering digital-first services. Competitive Interest Rates and Monetary Policy The SA Reserve bank follows an inflation-targeting framework, keeping inflation relatively controlled. Foreign investors view the SA Reserve Bank’s policies as credible – supporting long term economic stability. Our repo and lending rates are competitive compared to many emerging markets. ( The repo rate is set by the Reserve Bank and is the rate at which money is lent to SA’s commercial banks.) South Africa has a Strong Insurance and Financial Services Sector We have one of the most developed insurance markets in the world with major firms like Sanlam, Old Mutual and Discovery. Our retirement and pension funds are well structured, which helps immensely with long term financial stability. Private investment opportunities are vast and diverse making us an attractive investment destination. An Internationally Recognised Tax Administration Platform SARS e-Filing is globally acclaimed as a leader in digital tax administration among developing countries. While not at the level of advanced economies like the United States or United Kingdom, it outperforms many tax systems in Africa and other LMICs (low to middle income countries). We have an Open Economy with International Trade & Investment South Africa is an attractive destination for foreign direct investment (FDI) due to its strong financial system, natural resources, and industrial base. Trade agreements (e.g., AGOA, BRICS, AfCFTA) make SA key player in global and African markets. The SA Rand is one of the most traded emerging market currencies, reflecting SA’s role in global finance. Strong Corporate Governance and Compliance Standards The King IV Report on Corporate Governance sets international best practices for transparency and accountability. Businesses in SA adhere to global financial reporting and auditing standards, ensuring investor confidence. Most of all – South Africa has something that is truly our super power – South Africans Institutions, policies and procedures are only as good as the people who believe in and implement them. The people of this country are a special kind, unlike any other in the world. Maybe because of all we have faced and continue to face. But its that drive, that determination that we show up with, the “make a plan” philosophy… that makes us truly South African. We are adaptable, determined and resilient, and when we stand together, we are unstoppable. All of this is best epitomised by those magical moments when our Springboks lifted the World Cup – not just once, but on all three occasions, and how this galvanised us as a nation. So, when looking at the other side of our South African coin, and the temptation to become jaded creeps in, just remember what power we as a people have, individually and collectively.  Heather Flack, Business Leader, Flair Accounting T: +27 31 207 1572 M: +27 76 555 7529 E:  heather@flairaccounting.co.za  W: www.flairaccounting.co.za

Isaac Mbatha's entrepreneurial journey of founding Sky Tents in 2015 exemplifies resilience, innovation, and the principle that consistency drives success, as he grew his business from humble, debt-ridden beginnings into an international tent manufacturing company recognized for empowering others and providing diverse products and services. ### Key Takeaways   - Founding and Growth : Sky Tents began in 2015 with Mbatha overcoming financial struggles, relying on customer deposits, and using grassroots marketing to scale operations to 79+ employees and a presence in nine South African locations with international clients.   - Challenges and Resilience : Mbatha navigated tough competition, personal risks, and severe stress but maintained his focus and resilience to rebuild during difficult periods.   - Innovative Initiatives : In 2017, a radio campaign gave away 100 tents to aspiring entrepreneurs, enhancing both the brand's visibility and its mission to empower others.   - Product Diversity and Expansion : The company expanded from pole tents to a range of products including stretch tents, frame tents, mobile toilets, and chillers; it is now exploring injection molding.   - Leadership Philosophy : Mbatha emphasizes adaptability, motivation, and teamwork while learning to delegate effectively to foster employee responsibility.   - Recognition and Impact : Sky Tents has earned prestigious awards like Forbes Africa 30 Under 30 and Standard Bank honors, highlighting Mbatha’s resilience and contribution to entrepreneurship.   - Business Philosophy : Consistency, excellent service, and relationship-building with clients are central to Sky Tents’ sustained success.   Isaac Mbatha's Journey: From Debt to International Success with Sky Tents

Sappi Southern Africa and Enpower Trading are pleased to announce the successful achievement of reaching Financial Close on their ground-breaking 175 GWh per annum, five year renewable energy Power Purchase Agreement (PPA). This milestone signals a critical step forward in the implementation of the project, which will see Sappi reduce its carbon footprint while advancing South Africa’s renewable energy sector. The importance of financial close Reaching financial close is a significant milestone, achieved to date by only a select few private power projects in South Africa. This achievement not only underscores the credibility and bankability of the five-year PPA, but also reflects the strong confidence shown by financial institutions in Enpower Trading and Sappi’s clean power solution. By facilitating Financial Close for SolarAfrica Energy’s utility scale SunCentral 1 PV plant (valued at R1.8 billion), Enpower Trading has played a pivotal role in driving the project forward, demonstrating its commitment to advancing renewable energy solutions “Financial close of the Sappi PPA solidifies the foundation of this transformative agreement and underscores the strength of our innovative trading solutions,” said James Beatty, CEO of Enpower Trading. “As pioneers of the five-year PPA tenure, Enpower Trading is thrilled to lead the way with this project, which represents the largest private five-year PPA to achieve Financial Close in South Africa. This accomplishment demonstrates the viability and scalability of shorter-tenure utility scale agreements in catalysing renewable energy development.” "Reaching financial close on this agreement marks a significant milestone for our company and our nation. This achievement not only underscores our commitment to sustainable energy solutions but also highlights the remarkable progress being made in transforming our country’s energy landscape. At Sappi Southern Africa, we are proud to be at the forefront of this transformative journey, driving innovation and fostering partnerships that will ensure a brighter, more sustainable future for all. This agreement enables us to demonstrate leadership in sustainable business practices, reduces our reliance on fossil fuels, and supports SDG7: Clean Energy, “commented Graeme Wild, CEO of Sappi Southern Africa. Pioneering the five-year PPA tenure The five-year PPA model offers a groundbreaking alternative to traditional long-term agreements. By providing tenure flexibility, this model has unlocked new opportunities for companies of all sizes to purchase wheeled energy. Enpower Trading’s leadership in this space has been pivotal in unlocking the potential for short-tenure PPAs to drive significant renewable energy investments. “This milestone project illustrates the power of innovation in the energy trading sector,” said Beatty. “Enpower Trading’s approach to the five-year PPA model delivers further liquidity to the market by ensuring financial feasibility for developers for a much wider range of projects than traditional long-term PPAs only, alongside delivering alignment with the business needs of energy off-takers like Sappi. We believe this model is a game-changer for the South African market.” Private sector innovation and green leadership The power supplied through this agreement will reduce Sappi SA and Sappi Limited’s Scope 1 and Scope 2 emissions by 6% and 4%, respectively, aligning with Sappi’s Science-Based Target (SBTi) objectives and the broader goal of achieving net zero emissions. The SunCentral PV project, operated by SolarAfrica Energy, is a cornerstone of South Africa’s renewable energy transition. As one of the country’s largest solar farms, it highlights the potential of private-sector-driven renewable projects to scale up clean energy solutions. “Private-sector innovation is critical to solving the energy challenges facing South Africa,” added Beatty. “Through this partnership, we’re not just providing cleaner, more affordable power—we’re enabling an entire ecosystem of cleaner energy development that supports economic growth, decarbonisation, and energy reliability.” Supporting a sustainable future The integration of renewable energy into Sappi’s operations is another step in the company’s journey to build a more circular economy and reduce reliance on fossil fuels. The collaboration between Sappi and Enpower Trading offers a replicable model for other industrial players seeking to navigate the transition to clean energy. Graeme Wild, CEO of Sappi Southern Africa and James Beatty, CEO of Enpower Trading For Sappi Southern Africa For Enpower Trading Zelda Schwalbach External Communications Sappi Southern Africa Mobile +27 (0)83 6528528 Zelda.Schwalbach@sappi.com Carla Worth General Manager Tel +27 (0)21 003 9100 carla.worth@enpowertrading.co.za

Ms Sihlobile Mkhwanazi, a second-year UKZN BCom Accounting student, received a bursary from Computershare (Pty) Ltd, awarded via the BEE Chamber. The bursary has allowed her to pursue her dream of becoming a chartered accountant without the burden of financial strain. For Mkhwanazi, a bursary represents far more than financial relief – it is a gateway to a better future. ‘For students like me, a bursary is a lifeline,’ she said. Growing up in a single-parent household, financial challenges were a constant part of her life. ‘The opportunity to continue my studies without worrying about tuition fees has been transformative. It has allowed me to focus on my education and my future.’ Raised in Hillview, Empangeni, by a mother who placed education above all else, upbringing instilled in Mkhwanazi a passion for learning and a desire to give back. ‘My mom made sure that we attended good schools, including Empangeni High School, where I was exposed to extracurricular activities that most children in our situation wouldn’t have had access to,’ she said. These early opportunities ignited Mkhwanazi’s interest in accounting. Her decision to pursue it is her way to break the cycle of financial hardship her family faced and to build a stable, successful future, not only for herself, but also for her loved ones. While her high school ambitions revolved around achieving stability through accounting, her time at university broadened her horizons. ‘Studying accounting showed me that it’s not just about numbers; it’s about understanding economics and the larger financial systems that shape our world,’ she said. This deeper understanding has fuelled her desire to make a meaningful impact in both the corporate world and her community. Like many students, Mkhwanazi has faced her fair share of challenges. Balancing academics and financial pressures was a constant struggle, even with the bursary. ‘There’s always the worry about making ends meet, and the academic workload gets heavier as you progress,’ she said. Despite the difficulties, Mkhwanazi learned to manage her time, seek support when needed and develop resilience. ‘Failure is something I struggle with, but I’ve come to understand that it’s part of the process. Each setback is a lesson.’ Mkhwanazi’s leadership extends far beyond her studies. She coaches a netball team, a project she started earlier this year, and also runs a small business selling hair bows. ‘Coaching has been incredibly rewarding. It’s not just about the sport; it’s about building confidence in these girls and helping them stay focused on positive activities,’ she said. Her entrepreneurial venture has taught her valuable lessons in leadership and business, further enriching her skill set. Mkhwanazi envisions a future where she not only thrives as a chartered accountant but also gives back to her community. ‘I plan to establish a girls’ empowerment organisation to mentor young girls and help them stay on the right path,’ she said. Her vision is to create opportunities for others, just as the bursary provided an opportunity for her. She advised others to: ‘Believe in yourself, even when it feels like the odds are against you. Don’t limit your dreams, and know that hard work will pay off. Every challenge, every sleepless night – it all serves a purpose. And remember, failure isn’t the end; it’s just a step in the journey.’ Sihlobile Mkhwanazi Press Releases Melissa Mungroo < Mungroo@ukzn.ac.za

THE HIGHLIGHTS      Welcome to this edition of Business Sense, where we highlight key business developments within the province – celebrating successes while addressing real challenges that businesses need to navigate to remain efficient and competitive. We are delighted to feature Virosha Pillay, managing director of Avvo Labels , on our front page and in the page 3 article. Virosha is dedicated to growing her family’s legacy and steering the business toward new heights. KwaZulu-Natal is currently proving the wisdom of Peter F. Drucker, who famously said, “Whenever you see a successful business, someone once made a courageous decision.” Our province is experiencing a wave of bold decision-making, investment, and development, signalling a promising future. One such development is Westown . This highly anticipated mixed- use project is set to launch its first phase on 27 March 2025, transforming eThekwini’s Outer West into a dynamic hub of retail, lifestyle, business, and leisure. Another exciting development is Club Med South Africa , which is poised to boost tourism both in the province and nationwide  The optimism continues with our new editorial partner, Tyson Properties , who share their positive outlook on the North Coast. We also welcome  Heather Flack  from Flair Accounting, who highlights the resilience of South Africa’s financial sector despite challenges. This edition also features inspiring business journeys, such as Raksha Laghari’s AML Distributions , a proudly South African enterprise that has grown into an industry powerhouse since its founding in 2009. Our regular editorial partners provide valuable insights: ■          Johan van Deventer from LabourNet  discusses employer accountability  ■          Marlene Powell  explores how integrating robust systems with cutting-edge artificial intelligence can transform business efficiency and growth. ■          Richard Hoal, Rona Evans, and Kajal Mulchandani from Cox Yeats Attorneys emphasise the importance of adequate insurance coverage ■          Jacquie Bhana  highlights the critical need for mental health and well-being training for managers.  ■          Sameer Kumandan , managing director of SearchWorks, explains why financial compliance is both a legal necessity and a strategic asset  ■          David White  shares how BusinessFit is making significant strides in developing technology to support SME growth and sustainability We also take this opportunity to congratulate the new directors at the Minara Chamber of Commerce and wish them well. We hope you find this edition insightful and inspiring as we navigate the ever-evolving business landscape together. Happy reading! Click the image to view Business Sense eBook

What do Old Mutual and HSBC Johannesburg have in common? No, it’s not that they’re both financial services providers or that the pair are big players in South Africa’s financial services landscape. Each of these institutions has recently been penalised for non-compliance with the Financial Intelligence Centre Act (FICA). In September, the South African Reserve Bank (SARB) imposed sanctions on Old Mutual for failing to meet customer due diligence (CDD) obligations, for not timeously reporting suspicious and unusual transactions and for neglecting to adequately develop and implement a Risk Management and Compliance Programme (RMCP), among other offences. Old Mutual faces apenalty of R15.9 million for non- compliance. In October, SARB announced that HSBC had failed to comply with certain provisions of FICA and would be charged a financial penalty totalling R9.5 million. HSBC’s offences also related to CDD and RMCP, as well as failing to attend to automated transaction monitoring system (ATMS) alerts within the required timeframe. Similarly, Kunene Ramapala Incorporated, a law firm, was penalised R7.7 million for gross negligence and multiple FICA compliance failures, including not implementing an RMCP, failing to scrutinise clients against the targeted financial actions (TFS) list, and sharing login credentials on the goAML (Global Anti- Money Laundering) system. This case marked the first appeal of its kind, where the FIC’s decision to enforce penalties was upheld by the Appeal Board. If anything, these sanctions showcase the consequences of non-compliance and indicate that the era of leniency is well and truly over. They also demonstrate SARB’s commitment to upholding robust financial practices and preventing financial crime. FICA is not a suggestion – it’s the law and the law is coming for those who fail to meet their obligations. And let’s not forget that the cost of non-compliance extends far beyond penalties. The impact of the reputational damage, operational disruption and potential loss in trust, which can negatively affect established business partnerships, can often be far worse than the financial implications. Even a small lapse in compliance can lead to devastating consequences. This puts additional pressure on all accountable institutions to prioritise compliance, especially given recent amendments, which have expandedthe definition of what constitutes an ‘accountable institution’. The new definition now includes crypto-asset providers and high-valuegoods dealers, among others. The changes are intended to close gaps in existinganti-money laundering (AML) and counter-terrorist financing (CFT) prevention measures and better align South Africa’s regulations with international standards. Beyond greylisting These obligations have become even more critical, and there has been greater regulatory scrutiny, since South Africa was greylisted by the Financial Action Task Force (FAFT) in February last year. Being placed on FAFT’s grey list means that our country has various shortcomings when it comes to preventing money laundering, fraud and terrorist financing. At the time, the FAFT provided a breakdown of where we were falling short and gave us a strict deadline to address these 22 strategic deficiencies. And that deadline is looming. At present, there are about six outstanding items on the list that must be remedied before February 2025. One of the outstanding action items, which should have already been “ticked off”, was delayed because of low compliance by companies and trusts; like the financial services brands mentioned above. If we want to be removed from the grey list next year, all accountable institutions must recognise their role in safeguarding South Africa’s financial system. Compliance is not only a legal requirement, it is also a strategic asset in a business landscape where trust and transparency are becoming ever more important. In addition, having the right compliance strategy and infrastructure in place future-proofs businesses against ever evolving regulatory demands. Tools like VOCA, powered by SearchWorks, streamline compliance processes for accountable institutions. A verification, onboarding and compliance application, VOCA simplifies compliance by automating customer due diligence  processes and ensuring adherence to FICA requirements. When compliance is automated, tasks like ID verification and document validation happen automatically, in real-time, which streamlines the onboarding process and reduces the risk of oversight. Furthermore, applications like VOCA are designed to have a deep understanding of local regulations, including the latest amendments to FICA so that businesses don’t have to stress about failing to update their compliance strategies. And when compliance is automated, manual efforts are reduced, which eans that you have more time to focus on your core business activities.  For more information contact: T: +27 (0)86 034 0000 E:  info@searchworks.co.za  W:  www.searchworks.co.za