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2010...THE YEAR AHEAD

2010 is destined to be a watershed year for South Africa from a business perspective. A number of events will be taking place during the year that will all have a dramatic effect on the economic and governance arenas, the outcomes of which will have an enduring effect on our economic future. The four key events are Pravin Gordhans budget speech set against a backdrop of global economic decline, Corporate governance and the implementation of King III, the staging of the World Cup Soccer and the implementation of the new Companies Act.

The Institute of Directors launched the final King report on governance on the 1st September 2009 with a view to implementation on the 1st March 2010. The report on corporate governance in South Africa became necessary because of the pending implementation of the new Companies Act no. 71 of 2008 and changes in international governance trends. Whilst the overarching essence of the report is on corporate governance in its fullest sense the following key aspects are worth highlighting. Read More

THE SOCCER WORLD CUP

The hosting of the world cup soccer has led to a massive infrastructural spend in the form of stadiums, roads and public transport. While the bulk of this spend is much needed so is some form of financial return. Current indications are that the much vaunted tourist influx may not be as good as expected.

The spectacle will certainly showcase our country throughout the world and lets hope that we have an enduring positive economic spinoff. It certainly is a pleasure experiencing the new airport terminals, roads systems as they come to completion and a fifteen minute trip from OR Tambo International to Sandton for R100 is worth looking forward to!

COMPANIES ACT 08

The new companies act was scheduled to come into force on the 1st July 2010. Although the companies act was signed into law by the president in April 2009, there were still certain regulations to be published before the act could come into force.Read More

THE COST OF BEING CONNECTED

GLOBALISATION, the defining international system of the 21st century has developed primarily due to exponential improvements in telecommunications and the internet. Connectivity, the outcome of these technological advances, is driving the way we work often at the expense of the individual and the organisation.
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