Virgin Active Gym has implemented an inclusive policy that allows transgender individuals to use bathrooms corresponding with their legally recognized gender. This policy emphasizes the importance of inclusivity and respect for individual identities, but has also sparked debate around privacy and safety concerns on social media. Virgin Active has reaffirmed their support for individuals who have completed their transition process and addressed safety concerns, highlighting the corporate challenge of balancing inclusivity and safety while promoting a broader societal dialogue on gender identity and inclusivity.
The City of Cape Town plans to invest over R4bn in upgrading and maintaining its electricity grid over the next three years, moving towards a decentralized energy future and allowing for smallscale, independent power producers. This investment aims to terminate loadshedding and stimulate economic growth, with the Building for Jobs budget reinvesting revenue from electricity sales. Residents can provide suggestions via email, telephone, or through their Ward Councillor/Subcouncil offices to participate in shaping this future.
The gig economy in South Africa is booming, with an estimated 4 million gig workers in the country. This flexible work arrangement covers a wide range of professionals and offers a lucrative platform for businesses targeting freelancers. Financial management for gig workers can be complex, but startups like Craft are providing solutions to make transactions smoother and facilitate financial management. The gig economy is set to reshape the idea of work in the upcoming years and is a major component of South Africa’s employment scene.
Louis Liebenberg, the owner of diamond company Tariomix, has faced allegations of operating a Ponzi scheme, enticing investors with offers of diamond parcels that resulted in major losses. Tariomix has accumulated around R4 billion from investors and creditors and now faces liquidation. Liebenberg recently launched a political party called Herbou, campaigning for economic reform and the transfer of mineral wealth to citizens. Despite the turmoil, Cape Town continues to thrive, offering attractive deals on cars under R100 000 to locals and tourists.
South Africa’s VIP bluelight brigades, used to escort top officials, have led to safety risks on the roads and an average monthly fuel bill exceeding R580,000. The South African Police Service’s VIP Protection Unit shoulders a significant portion of this cost. Taxpayers have expressed outrage at the imbalance in resource allocation, with R2.18 billion designated for VIP protection, closely following the R2.4 billion set aside for the Directorate for Priority Crime Investigations, or The Hawks, leading to questions about the appropriate use of taxpayer funds.
The Port of Cape Town has announced that it will welcome private sector partnerships to address the inefficiencies that have plagued the port for some time. This move is expected to generate a significant R6 billion in exports, create around 20,000 jobs and yield over R1.6 billion in additional taxes over five years. The initiative has been championed by Alderman James Vos, who has called for a strategic transition towards private sector involvement. However, caution and due diligence are advised when scrutinising bidders to avoid potential risks.
The launch of CODI is a significant milestone for South Africa’s financial security. It provides a safeguard for consumers by protecting their deposits up to R100,000 in case of a bank’s failure. South Africa’s measured approach towards financial sector reforms, including the establishment of the Financial Sector Conduct Authority and the Prudential Authority, enhances consumer and investor confidence globally. A proactive regulatory framework and structural reforms, like CODI, rebuild public trust in financial regulation and signify South Africa’s dedication to economic stability.
President Cyril Ramaphosa envisions a South Africa that is inclusive, diverse, and provides equal opportunities to all, including in the transportation sector. The Presidential Working Group on Disability is committed to ensuring that every policy, programme, and practice is inclusive. The National Land Transport Act and revised White Paper on National Transport policy have strategies to increase universal accessibility, but there are still issues of safety and accessibility. The goal is a universally accessible national transport system that champions the rights and dignity of all South Africans.
Emazulwini Restaurant in Cape Town has achieved global recognition for its delicious flavors, warmhearted service, and lively personality. The restaurant prioritizes locallysourced and sustainable ingredients, making it stand out in the food industry. Chef Mmabatho Molefe, the creative mind behind Emazulwini, has had an impressive journey in the gastronomic world, recognized as one of the World’s 50 Next Hospitality Pioneers for her innovation in Zuluinspired cuisine. Although the restaurant has closed its doors, there are hints of a potential comeback, and its recognition highlights the impact of local, sustainable, and personalityrich culinary establishments worldwide.
The City’s Urban Waste Management Directorate has unveiled its budget plan for 2024/25, which prioritizes the improvement of sanitation and waste collection services, waste reduction capacity, and compliance with safety regulations. The budget includes significant allocations for refurbishing facilities, smallscale enhancements, and capital expenditure, funding a range of innovative projects and sustainable practices. The Directorate encourages public participation and feedback on the proposed initiatives, which will shape a more ecofriendly and efficient future for the City.
The Expanded Public Works Programme (EPWP) is a government initiative in South Africa that aims to create job opportunities for those who cannot enter the formal economy. Over the past 20 years, it has created more than 14 million job opportunities across different sectors, from early childhood development to community crime deterrence. The EPWP has transformed lives and communities, instigating positive change across the nation, and its success has even extended beyond South Africa’s borders. As the EPWP enters into its next phase, the government is committed to enhancing the quality of service delivery, boosting youth involvement, and fortifying skills development.
The South African Reserve Bank has seized over R60 million in assets and cash from Berdine Odendaal, the partner of the late Markus Jooste, who had profited from Jooste’s illacquired wealth. Despite legal battles and appeals, the Reserve Bank forfeited the confiscated assets, illuminating the significant impact of regulatory oversight and ethical business behavior. This serves as a warning to others wielding power, highlighting the significance of ethical behavior in business transactions, and the repercussions that follow breaches of these principles.
South Africa’s tourism industry offers boundless opportunities for young minds, according to Minister Patricia de Lille. Speaking to senior students in Mitchells Plain, de Lille outlined the many career paths and training programs available, including bursaries, internships, and youth skills development initiatives. The minister also stressed the importance of government support in nurturing talent and bridging the skills gap in the expanding sector, which encourages creativity and offers global exposure and opportunities for personal growth.
Larry Ellison is a technology tycoon who cofounded Oracle, the world’s leading database management company. He has been a driving force in the software industry, known for his audacity and sales skills. Despite stepping down as CEO in 2014, Ellison continues to lead Oracle as the chairman and chief technology officer. His impact on the technology industry remains everlasting, and his interests now span into philanthropy, sailing, and clean energy. Ellison’s journey from a curious youngster to a technology magnate is an inspiring story of resilience and innovation.
South Africa reigns as Africa’s primary wealth hub, with Johannesburg being the continent’s most affluent city, home to 12,300 millionaires, 25 centimillionaires, and two billionaires. Cape Town follows closely in second place, with 7,400 millionaires, 28 centimillionaires, and one billionaire. These rankings highlight the concentration of wealth within specific nations and cities, with South Africa possessing more than double the number of highnetworth individuals compared to any other African country. The 2024 African Wealth Report showcases the continent’s financial landscape and underscores its growing economic power.
The Worker Share Ownership Conference in South Africa marks a significant step towards social and economic transformation, with over half a million workers being partowners of their companies. Worker share ownership programmes enhance morale, productivity, and innovation within companies, offering a pathway to economic inclusion. These schemes have evolved remarkably, providing workers with a seat at the decisionmaking table, strategically influencing corporate decisions, and nurturing partnerships to unearth opportunities for growth, investment, and job creation. The ongoing collaboration between governmental bodies, the labor force, the private sector, and other stakeholders is vital in creating a favorable environment for the success of employee share ownership programmes.