beads DIVERSELY CONNECTED www.beadsmag.co.za Apr ‘24 | Vol 16 BBuussiinneessss && FFiinnaannccee IIssssuuee LLoonnddiiwwee NNddwwaannddwwee MEMORIZE THAT NAME TO TRANSFORM YOUR BUSINESS WOMEN'S WARDROBE EEsssseennttiiaall IItteemmss BBEESSTTSSMMAALLLL BBUUSSIINNEESSSSIIDDEEAASS FFOORRTTEEEENN EENNTTRREEPPRREENNEEUURRSS IISSRREEGGUULLAATTIINNGG TTHHEETTOOWWNNSSHHIIPP EECCOONNOOMMYY A GGOOOODDMMOOVVEE?? AANNDDWWHHAATTAARREE IITTSSMMAAJJOORR PPRROOMMIISSEESS?? WWhhaatt iiss tthhee AAffCCFFTTAA
Vol 16 | 2024 B u s i n e s s & F i n a n c e E d i t i o n 2 | Vol 16: April 2024 | Business & Finance Issue | www.beadsmag.co.za Beads Magazine is published bi-monthly by Thamani Media | Lakeview Terrace, Richards Bay | KZN [email protected] | www.beadsmag.co.za Thamani Media Nqobile Xulu-Nene Zanele Xaba Vacant Lungani Xulu Vacant Pam Madonsela Mr Cebekhulu Vacant Nondumiso Nyembezi Zethembiso Gumede Publisher: Chief Editor: Features Writer: Online Editor: Advertising: Business Editor: Contributors: In-House Photographer: Marketing Manager: Social Media Manager: Administrator: Issue Features Dear Editor Editor’s Note KZN Online Africa Online Head of the Table Business News Business Scene Featured Content Is regulating the township economy sector a good move? What is the AfCFTA and what are its major promises? IDC and IT Labs Foundation Partnership Business Features Youth in Business with Phila Mdlovu On the Rise with Advocate Futhi Ntuli Interest Features Things to Stop Buying That'll Save You Tons of Money Business Ideas for Teens 3 4 7 8 9 32 34 19 26 32 21 29 25 23
beads DIVERSELY CONNECTED @beadsmagazine We LOVE, LOVE, LOOOOVE hearing from you. We are actually sitting in front of our screens hoping to see “You have followed us” We promise to keep you informed, entertained and engaged. Remember you can also write to us. We wil respond Oh, ALSO, if you follow us, you won’t miss out on all these prizes to be won. Join Get your free digital flip issue of Beads Magazine. We showcase KwaZulu Natal at its most attractive. The province's talent, culture pride, style, fashion, beauty, investment, and people and the overall luxury lifestyle that is an envy of many other. DEAREDITOR @beads_magazine @Beads_Magazine subscribe FREE www.beadsmag.co.za/subscribe 3 | Vol 16: April 2024 | Business & Finance Issue | www.beadsmag.co.za Sour ocials
EdiNtor’s ote 4| Vol 16: April 2024 | Business & Finance Issue | www.beadsmag.co.za Welcome back Beaders I haven't connected with you in a while. Three years, six months, and 2 weeks to be exact, but who’s counting? I confess though, you've been missed, a lot. Time passes quickly and with all the obligations - personally and professionally - keeping up with our loved ones can get lost in the shuffle - especially when it comes to someone as important as you. As I think about the passing of time, it makes me realize how many untold stories, unshared insights, unexplored inspiration, and missed conversations there are. In the busy realm of business where every moment can bring new opportunities for growth and progress, pausing to recenter ourselves becomes imperative. It allows us to reconnect with our community which constantly motivates us toward advancement. We can’t afford to miss anything because things are moving too quickly, children are growing too fast, and trends are changing too quickly. We are living in a time where anyone can be anyone, AI is taking over - I mean - look at my picture, All AI dear. Make no mistake, you - dear Beader - are still at the heart of our publication - injecting purpose and passion into each page. As we continue this journey towards reconnection with you, we are excited to hear from you. Our mission has not changed. We are still here to deliver you inspiration. Like the stories of the women on this issue, women who have decided to win, despite life’s challenges. From a woman who moves from being a typist to an Advocate, to one who juggles many life hats and still gets them all fixed. Even from the start, we have wanted Beads Magazine to be the people’s magazine. We want to introduce you to people you might not have known otherwise. People walking crazy journeys. People who set out to make a change in their space, the breed of human that makes us know it's all possible. So, we promise to continue educating, motivating, and inspiring you. Let's resume where we left off – advancing as a tribe in exploration, revelation, and progress. United, we'll unveil a vision of a future full of potential and opportunities. I am so excited to do this with you again! Nqobile MaXulu Nene Editor-in-Chief
to Transform Your Business Women's Wardrobe Item 1 The Classic Black Suit The classic black suit is the quintessence of women's business attire. Tailored to fit like a second skin, it exudes a sense of authority and seriousness that is unmatched. Ideal for high-stake meetings, this suit is your go-to when you need to make an indelible impression. Its beauty lies in its versatility; whether paired with a crisp white shirt or a soft pastel, it adapts, making it an invaluable piece in your wardrobe Essential Items Allthemen Womens 2-Piece Business Professional Office Lady Double Breasted R1 199,00 5 | Vol 16: April 2024 | Business & Finance Issue | www.beadsmag.co.za
Decision making is easy when your values are clear. – Roy Disney
SWEET SUCCESS FOR STEM LEARNERS KZN BUSINESS CELEBRATES 35 YEARS DESPITE CHALLENGES Bigfoot Express Freight founded by Sun and Rina Moodley, recently celebrated 35 years on February 28, 2024. In the 35 years that it has been running, the company has employed 510 people across their various African divisions. Bigfoot Express Freight has a presence in both South Africa and other other Southern African countries, with 11 domestic branches across the country and five branches across SADC regions. EARLY support in Science, Technology, Engineering, and Mathematics (STEM) studies is proving to assist learners in achieving top marks, and for KZN-based sugar manufacturer, Illovo Sugar South Africa, all four of their adopted schools achieved stellar pass rates. On the path to success are, from left, Zanele Maphumulo from Sihle High School, Kwazi Mdubeki from Lamontville High School and Sphesihle Sibisi from Sihle High School, as top achievers in Illovo Sugar South Africa’s STEM class programme. KZN BUSINESS ONLINE NEWS Written by: Dhivana Rajgopaul | For IOL Written by: Staff Writer | For KZN Industrial & Business News SMALL KWAZULUNATAL FAMILY BUSINESS SOARS TO NEW HEIGHTS THROUGH DEAL WITH SHOPRITE GROUP Since signing a deal with the Shoprite Group just over a year ago, Durban-based family business, TMK Foods has grown from stocking their Mediterranean Kitchen brand initially in five to now 15 Checkers stores in KwaZuluNatal. The business was established in 2010 by former restaurateur Dino Constantinou (65), who created a range of Mediterranean dips, pestos and meze. Loved by locals, the business eventually outgrew Dino's home kitchen and moved to a small factory. In 2018, sons Alex, Michael and Angelo brought in their expertise to help expand the business further. Written by: Shoprite Group Newsroom GOVT PRECINCT A MAJOR BOOST FOR BUSINESS IN PIETERMARITZBURG The KwaZulu-Natal provincial government precinct, which will be built at Townhill in Pietermaritzburg, will have massive economic spin offs for the city — which is currently battling unemployment and under-investment. In her State of the Province Address (Sopa) delivered at the KZN Provincial Legislature on Wednesday, Premier Nomusa Dube-Ncube announced that the construction of the R6 billion precinct — which will be home to the KZN Legislature, provincial government and the province’s archives unit, will soon begin. 7 | Vol 16: April 2024 | Business & Finance Issue | www.beadsmag.co.za
WOMEN IN AFRICAN BUSINESS TAKE TWO STEPS FORWARD, ONE STEP BACK SOUTH AFRICA IS HEADING THE WRONG WAY, WHILE RWANDA SHOWS WHAT IS POSSIBLE - MBEKI South Africa is headed in the wrong direction and needs to take lessons from Rwanda, 30 years after the reverse was true and SA served as an inspiration for Rwanda, former president Thabo Mbeki has said. In the past 30 years, Rwanda had advanced a great deal, while South Africa had regressed, he said. Mbeki described a period in South Africa – while he was deputy president to Nelson Mandela – when strong institutions, such as the Constitutional Court and the Public Protector, were created.. "The economy was doing very well... we reached 5% rates of growth, unemployment decreasing, then things changed and went the opposite direction," he said. Women in Africa are leading the way when it comes to establishing their own businesses. A quarter of all businesses on the continent are started or run by women, in contrast to Europe where the share of entrepreneurial activity by women is a lowly 5.7%.. Women’s strong participation in business in Africa is linked to a number of factors, including survival – formal job prospects can be limited, necessitating innovation and self-employment by women. Despite this considerable progress, a number of structural, social and infrastructure challenges persist. Whereas more and more women are participating in the private sector, this participation is not always sustained higher up the career ladder. “Women tend to have a much harder time raising funds from their networks, from financial institutions and from equity investors,” AFRICAN ONLINE NEWS Written by: Lenin Ndebele | For News24 Written by: Jessica Moody | For African Business News JAPANESE PRIVATE SECTOR GAINS GROUND IN AFRICA BUT CAUTION STILL REIGNS The Japanese government has tried to capitalise on the power of the private sector to advance its foreign policy in Africa, but investors remain notoriously risk-averse. With Africa now the venue of increasingly high levels of geopolitical competition, “Africa-PlusOne” summits between a nation-state and the continent have become commonplace. Practically every global “great power” – or countries which aspire to that status – are looking to host such summits as they recognise that Africa is home to some of the world’s fastest growing markets and natural resources that are critical to the world’s attempts to transition to a greener economy. Written by:Harry Clynch | For African Business News 8 | Vol 16: April 2024 | Business & Finance Issue | www.beadsmag.co.za
HEADOFTHETABLE Nosihle Dlamini Senior Manager: Quality Division, Toyota SA 9 | Vol 16: April 2024 | Business & Finance Issue | www.beadsmag.co.za
TRUE GREATNESS LIES IN EMBRACING OUR UNIQUE TALENTS AND PASSIONS Nosihle Dlamini may be described as a woman extraordinaire. As a senior manager at Toyota in the Quality Division, Nosihle plays a role in ensuring vehicle quality at a leading automotive company. Nosihle’s responsibilities include liaising with internal and external customers, driving efficiency, productivity, and quality through innovation and creative problemsolving. Nosihle is also the vice chair for the TWIMS Alumni Board, an association aimed at making manufacturing 'sexy' again in the communities around manufacturing spaces, In addition, Nosihle is the founding member of Circle of Hope, an organization run through a church in the township of Kwamakhutha and Ezimbokodweni. They assist youth and older people with job searches and readiness for the workplace. She is also an ambassador for WYB organisation where leaders are coming together to be agents of change for socioeconomic issues in KZN. A chance encounter with a plant engineer piqued Nosihle's interest in studying engineering. Nosihle didn't stop there though, after obtaining her mechanical engineering qualification, she continued to pursue subjects she believed were essential for her personal and professional growth. Her education, which includes psychology, business studies, and her current pursuit of a Masters in human resources, showcases her dedication to understanding how the human dynamic operates within systems. Nosihle emphasizes, "It's people who build cars, not the machines or the robots and it's people who buy cars so understanding humans is key. N Whether you look from a business or socio-economic point of view or any other perspective, people are at the heart of it. As soon as you grow a love or understanding of the human element, I think most of everything else will make sense," She added, "That is interesting because I think as soon as we crack that code then everything will just fall into place. What makes the common denominator is tapping into that human spirit, that human energy that's going to make everything work." Entering a male-dominated industry is no small feat, and Nosihle has faced her fair share of challenges. She began her career in engineering at Witbank, working in the mining industry. Source: KZN Top Business Women | https://www.kzntopbusiness.com/ HEADOFTHETABLE However, these challenges only fuelled Nosihle's determination. Looking back, she recognises that the difficulties she faced taught her resilience and encouraged her to speak up even when challenging. However, gender bias continued to be a hurdle, Nosihle recalls feelings torn between her personal life and the persona she had to portray at work. Like many other women with untold stories, Nosihle struggled with fertility issues and a heartbreaking miscarriage. She felt that amid heartbreak and anxiety, it was important for her to be present, maintain a brave demeanor and continue as if there was nothing wrong with delivering on the required performance targets. Nosihle reflected, "l think that was one of the biggest challenges, where you literally live a double life. It's the whole stereotype of being a woman, you constantly have to prove yourself, which we do all the time." She emphasised that our current education systems continue to teach and promote 'cut-throat masculine traits' as 'good management'. "When a woman comes into the space not operating in a masculine manner, we think it's weak leadership," she added. Nosihle is passionate about the need for more inclusive leadership styles, recognising that the topdown approach often fails to capture the true essence of leadership. She advocates for leadership which combines strength with empathy, a concept drawing from her experience of a confident and capable mother. Despite being one of the most qualified in many meetings, she remembers being unfairly stereotyped as a 'meisiekind', the young girl who could be younger than some of the engineers' daughters and therefore deemed unworthy of a say. the difficulties she faced taught her resilience and encouraged her to speak up even when challenging. 10 | Vol 16: April 2024 | Business & Finance Issue | www.beadsmag.co.za
Nosihle firmly believes that running away from challenges is not the solution. Drawing inspiration again from her strong and resilient mother and empathetic father, who both prospered despite their own struggles, she is determined that we as South Africans can do the same. She emphasises that life's hardships should not define someone. Instead, these challenges should be viewed as invaluable life lessons, opportunities for growth, and a path to prosperity. She added, "We all have different journeys. You need to experience the things you do to become your best self." Another source of inspiration for Nosihle is her children. She says, "We are in South Africa and need a better country, we cannot all immigrate somewhere else. Every day I wake up, see my beautiful boys and think how I can change things so that they can have something better to grow into as people." Nosihle turns to her firm faith in God to remind us that we all have a unique role to play in the world. An impassioned advocate for education, Nosihle says, "There's a level of empowerment and the discipline that goes with education." As she feels strongly about this, she sponsors the schooling of four children per year, hoping to make a difference in an education system which favours the wealthy and leaves the underprivileged largely unsupported. Nosihle also runs a school and homework club at work, where she makes all the shopfloor leaders go back to school and helps them with their schooling. In a world that often measures success by rigid standards, Nosihle reminds us that true greatness lies in embracing our unique talents and passions. She advocates for an education system that recognises and nurtures individual strengths and talents, rather than pushing everyone into the same mould. Her advice to young people is simple: "Know thyself. Embrace every experience, whether positive or negative, as a crucial part of your personal journey." HEADOFTHETABLE Know thyself. Embrace every experience, whether positive or negative, as a crucial part of your personal journey Nosihle Dlamini - Senior Manager, Quality Division, Toyota SA 11 | Vol 16: April 2024 | Business & Finance Issue | www.beadsmag.co.za
to Transform Your Business Women's Wardrobe Item 2 A pencil skirt The pencil skirt is a hallmark of professional women's attire, known for its sleek silhouette that flatters a wide range of body types. Its versatility is unmatched, easily transitioning from a high-stakes client meeting to a casual workday with a simple change of top and accessories. Opt for a skirt that hits at or just below the knee for a universally flattering and professional length. Essential Items High Waist Stretch Pencil Skirt | Woolworths R399 12 | Vol 16: April 2024 | Business & Finance Issue | www.beadsmag.co.za
Family, God, EEvvee nntt ss She has taken the events management and planning space by storm and continues to make boss moves as a businesswoman and founder of Andimahle Building Events where beautiful events are orchestrated. by Pam Madonsela
It is such a rough road, but you must stay the cause and always remember why you started.
Too many hats, One head for them all would love to be remembered as a woman who empowered young leaders in SA and also someone who modelled the entrepreneurial journey with so much Grace because I know the struggle,’ these are words of Londiwe Ndwandwe an events planner who hails from Mandeni, KwaZulu Natal on how she wants to be remembered by leaving a legacy through events and the women she mentors every day. Coming from a loving and warm home has contributed to the woman that Londiwe is today which she models in her own family as a single mother of 3 beautiful children. “I come from a family of Love, and I was raised in a Christian background. God is my anchor and everything around me is centred around God. I grew up very focused and my dreams were always centred around business as my grandfather was a prominent businessman in his community. Family is very important to me, my children keep me going. I always make sure that as a single parent I give them my undivided attention and I’m a present mother. That’s why I named my business after my kids: Andimahle Building Events.” Remembering why she started, she tells Beads Magazine that she has also been through challenges. “I’ve had my fair share of failures just like everyone. Being an entrepreneur is challenging, and one is faced with challenges every day. It is such a rough road, but you must stay the cause and always remember why you started. I always overcome my challenges through prayer, God and my family who are my greatest pillar of strength during difficult times. Some days I feel like quitting, but I need to remind myself why I started and keep going.” Scooping Awards in the Events Planning Space i In 2023, Londiwe scooped an award in Events Management/Planning for the Forty under 40 SA which she describes as one of her greatest moments. “I am a Multi Award winner in Events Management and Event Styling. I started this business in 2008. What inspired me to start such a business is my passion for planning and making sure that the events industry is elevating daily. I don’t just do this for profits, but I do it because I love what I do, and I am forever grateful that I was able to turn my passion into a profession.” 15 | Vol 16: April 2024 | Business & Finance Issue | www.beadsmag.co.za
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Juggling life, family and business is not possible without support and Londiwe attests that from the many hats she wears each one comes with its challenges. * I am a mother to 3 beautiful kids * I am a sister to my 4 siblings * I am a mentor to many young girls who aspire to be in businesses * I am an employer to my employees *I am a servant in the house of God. * I am a community leader in the township where I come from (in Mandeni) “All the above hats are not easy. Each hat comes with its own challenges but again the secret is to stay focused & not complain too much but instead be grateful. I find balance to each of these roles by making sure that I attend to each one with Grace and making quality time for each role.” “I draw inspiration from Oprah Winfrey, Michelle Obama & Connie Ferguson I just love everything about these great women. I’ve learnt so much from their journey and resilience to win in life no matter the challenges they face,” she adds. Over the years there has been growth in luxury events planning and management in South Africa where clients are spoilt for choice and Andimahle Building Events has been one of those choices to some of the top names in South Africa and Londiwe says her secret is unique concepts, “We orchestrate truly original events and we come up with unique concepts for our clients. We have been in business for over a decade, and we pride ourselves in designing the best events in the country through creativity.” JLondiwe boasts with excitement as she shares with Beads Magazine that a wedding venue and academy are in the cards, “. I’m always cooking something special and I’m not afraid to talk about it. Firstly, being a wedding venue, secondly an Academy called LM Academy where I will be transferring my skills to those who are unemployed and seeking to start a career in the event’s Industry.” She encourages youth in South Africa to play their part in building their future. Londiwe also supports small businesses by empowering them to grasp opportunities and realise their full potential. “You can build a better tomorrow for yourself whilst driving positive change, making a difference in your communities and even your country.” An academy to share skills. Nuggets of inspiration from Londiwe: It’s perfectly fine to start small. Not everyone who starts with you will eventually finish with you. Keep your head high no matter the circumstances. Your vision is yours that’s why God has given it to you. 18 | Vol 16: April 2024 | Business & Finance Issue | www.beadsmag.co.za “We orchestrate truly original events and we come up with unique concepts for our clients. We have been in business for over a decade, and we pride ourselves in designing the best events in the country through creativity.”
BUSINESS OPINION Is regulating the township economy Key considerations for formalising South Africa's informal sector a good move? By Luvuyo Mncanca | University of Cape Town South Africa’s township economy is of interest to government, policymakers, and the private sector by virtue of its market size, diversity, and impact on neighbouring cities and the country. It has the potential to make a significant contribution to poverty alleviation, job creation, economic growth, and social stability. In spite of its potential, the township economy has not been fully realised due to existing barriers. Among these is that, by design, South African townships remain spatially disconnected and alienated from mainstream economic activity. This makes it difficult for employees, business owners, and consumers to tap into the infrastructure, resources, and incentives available to the economies in urban centres. Secondly, most township businesses are survivalist by nature, with many entrepreneurs having little or no understanding of the costs, processes, markets, or funding requirements to grow and sustain their businesses. In addition, there is a lack of proper financial records, technology, and systems necessary to handle growth or deal with associated risks. According to research from South Africa's Human Sciences Research Council in 2019, most township businesses remain small-scale and essentially survivalist in character, have low productivity, and tend to circulate local resources rather than produce tradable goods and services that serve wider markets, create decent jobs, and generate higher incomes. Of course, township businesses also face similar challenges to many South African small and medium enterprises, like lack of management skills, inability to access finance and obtain credit, limited access to markets, low government support, and lack of appropriate technology. In parts of the country, government is introducing a number of policy regulations in an effort to transform the township economy and bridge the gap between the township economy and mainstream economic activity. It is hoped these regulations will help unlock the untapped potential and set township enterprises on a growth path, and help diversify the township economy. The key drivers for this business activity, according to the report, is low barrier to entry and low startup costs, with a strong demand for convenience. 19 | Vol 16: April 2024 | Business & Finance Issue | www.beadsmag.co.za
There are no secrets to success. It is the result of preparation, hard work, and learning from failure.
BUSINESS OPINION 21 | Vol 16: April 2024 | Business & Finance Issue | www.beadsmag.co.za
BUSINESS OPINION with 28-year-old entrepreneur Phila Mdlovu of Mdlovu Creations Cake Boutique at uLundi, North of KZN Can you tell us about your journey into entrepreneurship? What inspired you to start your own business? I started baking while I was in university, taking and learning from my mother who has been baking and selling cakes for as long as I have been alive. Mdlovu Creations Cake Boutique is a family business, but I came in primarily to support myself during my first year of University since I did not have NSFAS. I started learning about the business, developing, and marketing more now that I was baking and selling. It was exciting. What started for me as 10lt of scones grew in a matter of months to a 50lt container of Scones and Muffins that I would sell around town during the school holidays. When I went back to University, I would research about funding and small business training. I decided on my final year that this is what I wanted to do, I want to be an entrepreneur. Three years later Mdlovu Creations Cake Boutique is the go-to spot in town for the best cakes in Ulundi. North Coast of KZN. What are the key skills or qualities you believe are essential for success as a young entrepreneur? You need patience, in everything, because there’s a lot of (strategic) waiting in business. Be Creative, resourceful, and social (with customers and just in general) be outgoing and learn people. Finally, have faith. What challenges did you face when starting your business, and how did you overcome them? The biggest challenge after funding was premises where we would run the business and be seen or exposed to the public since we operated fully from home when I came in. We had to increase our presence on the socials and make flyers to distribute in town. Once we opened the outlet in town it was much better because we were now exposed to a bigger clientele, not just the customers we already had. And as far as finding is concerned, we just sold as much as we could, to raise capital and self-fund. Can you share a valuable lesson you've learned from a setback or failure in your entrepreneurial journey? Mdlovu Creations has massive growth potential, and I have come to learn that this is the perception from most entrepreneurs. Not having the funds to grow and develop the business to the vision you have is frustrating, especially because during the slow days it feels like the business could be doing so much better if it were funded and bigger. We are still growing, steadily, and my lesson in all this I that I as the entrepreneur need to grow as well. Learn more about business and use the slow or challenging times to calibrate the business. With challenges while the business is smaller you get the skill to manage challenges for a bigger business. So be patient, learn and know your business in and out, product to value chain, all the way to the customer needs and thought process. This way, when the funding does come, you know exactly how to channel it for maximum effect. What role do you think mentorship plays in the journey of a young entrepreneur, and have you had any mentors who've influenced you? Mentorship for me has been like having a gps system for the business journey, where someone who has gone before you alerts you about the road ahead. From my experience I would advise having more than one mentor to advise and guide, to help strategize, to motivate and push you to execute on plans and ideas. What advice would you give to other young people who aspire to start their own businesses? Start quickly. Fail quickly and fail forward. Learn first from the mistakes of others and educate yourself now for the size of business you want in the future. Phila Mdlovu @phila_em 22 | Vol 16: April 2024 | Business & Finance Issue | www.beadsmag.co.za
Best Small Business Ideas for Teen Entrepreneurs This article guides young people, their parents, and their teachers through the benefits of youth entrepreneurship, ways to get started, and a range of ideal business ideas for teens. START YOUR OWN FREE BLOG In a world where the best content is often hidden behind a paywall, deciding to offer your talents for free is a huge draw for interested consumers. But how do you make money by creating free content? Here’s what you do: Rather than charge customers directly, monetize whatever you produce. START YOUR OWN ECOMMERCE STORE To get started with an ecommerce business, all you need is a product with potential for profit. Instead of going after online giants at the top of the chain, look into niches and pay attention to the trends you’re surrounded by. Checking customer reviews for existing products, for example, can be a great way to find out what buyers are missing or what they want to see in a potential product. TUTOR OR GIVE LESSONS TO YOUNGER KIDS Gifted at math or music? How about teaching some of those skills to others? If you’re patient and focused on the details, you’re a naturalborn teacher. You can opt to teach one-on-one in-person lessons, or you can sell DIY kits, templates, or virtual classes through an online store. You can even use your online store to sell appointments for in-person services. DESIGN AND SELL PRINTON-DEMAND PRODUCTS If you love to draw or create digital designs, selling your art online as reproductions is a great way to make money from home while you’re still in school. START A NEIGHBORHOOD SERVICES BUSINESS Typical neighborhood services include car washing, mowing and lawn care, house painting, and snow removal. If you have flexibility and access to a car, start a helping service like personal shopping or grocery delivery, or maybe try mobile bike repair or cleaning. For creative teens, how about a décor consulting business? DESIGN WEBSITES AND ONLINE STORES If you excel at digital art or coding you can start a graphic design business or a web design service from your bedroom. Tech-savvy teens can offer services to help design websites from scratch, create logos and fliers, or bring local businesses online by building eCommerce stores. Teens who enjoy playing video games may consider designing an app or online game as a small business idea. Tech support, data entry, technology tutoring, and transcribing services are other business ideas for teens who like working with computers. “What do you need to start a business? Three simple things: know your product better than anyone, know your customer, and have a burning desire to succeed.” -Dave Thomas, Founder, Wendy’s 6 23 | Vol 16: April 2024 | Business & Finance Issue | www.beadsmag.co.za
With every experience, you alone are painting your own canvas, thought by thought, choice by choice. Oprah Winfrey 24 | Vol 16: April 2024 | Business & Finance Issue | www.beadsmag.co.za
Reducing Takeaway Coffee Reducing the amount of money spent on takeaway coffee can have a significant impact on your savings. Takeaway coffee can quickly become a financial drain, costing you precious Rand over time. One way to boost your savings is by investing in a quality coffee maker or French press. This allows you to make your own coffee at home, FINANCE Things to Stop Buying That'll Save You Tons of Money Rethinking your Subscriptions It's time to reconsider your cable subscription. Not only can cable subscriptions be expensive, but they often include channels you don't even watch. Instead, think about cutting the cord and switching to streaming services like Netflix or Hulu. These platforms offer a wide range of shows and movies at a fraction of the cost. If you still want live TV channels, consider options like eVOD or YouTube TV. The Financial Burden of Eating Out Regularly Eating out regularly can quickly become a costly habit, with Rands adding up over time. However, by preparing meals at home, you can save significant money in the long run. Planning meals ahead of time and buying groceries in bulk are great ways to cut costs. Moreover, learning to cook simple and healthy meals not only improves your overall well-being but also reduces the burden on your wallet. Consider setting a budget for eating out or limiting it to special occasions to maintain a healthy balance between dining out and saving money. Save Money by Ditching Disposable Products Disposable products can quickly become a costly habit, adding up to unnecessary expenses. Instead, consider switching to reusable alternatives like water bottles, cloth napkins, and washable cleaning cloths. Not only will this help you save money in the long run, but it will also reduce waste and benefit the environment. Disposable products may be made with cheaper materials that compromise quality, so investing in reusable options can pay off in terms of both savings and durability. By ditching disposable products, you can avoid frequent purchases and make a positive impact on your wallet and the planet. Cheap Makeup I no longer purchase cheap make-up. Because you need to use more of it to get the full look, you use the entire product more quickly than you would a higher-quality product. 25 | Vol 16: April 2024 | Business & Finance Issue | www.beadsmag.co.za
What is the AfCFTA and what are its major promises? First agreed in July 2019, the AfCFTA is a key pillar of the AU’s 50-year strategy to boost Africa’s economic growth. Its primary aims are to deepen economic integration in Africa by increasing the easy, cheap flow of goods and services between countries, boosting cross-country investments, removing trade barriers, and advancing open visa policies. The AU also wants to leverage the plan to increase local manufacturing and fight for more influence in global trade where Africa currently contributes only 3 percent. All 55 AU member states have signed the agreement – save for Eritrea – and will be represented through the eight recognised regional economic blocs, including the South African Development Community (SADC) and the Economic Community of West African States (ECOWAS). The treaty became operational in January 2021. Combined, the agreement represents a united African market of 1.3 billion people that is worth about $3 trillion – approximately the gross domestic product (GDP) of India. The AU plans to reduce or eliminate tariffs on 90 percent of products and earn Africa an additional $450bn in revenues by 2035. If the agreement goes according to plan, the AU estimates Africa’s economy will expand to $29 trillion by 2050. What’s the current trade outlook in Africa? African governments have often created trade barriers to protect their markets from regional competition. At present, intra-continental trade tariffs mean that it is 6.1 percent more expensive to import goods from within Africa than to import from outside the continent. By Shola Lawal | For Aljazeera 26 | Vol 16: April 2024 | Business & Finance Issue | www.beadsmag.co.za
Due to that markup, countries barely trade with each other, with total intra-African exports hovering at about 14 percent of total African trade, compared with 55 percent in Asia, 49 percent in North America and 63 percent in the European Union. Meanwhile, one-fifth of subSaharan Africa’s raw materials like crude oil, metal and copper are exported to China, the region’s single biggest trade partner. China is also one of the biggest exporters to Africa, meaning it is easier to find “Made in China” goods than “Made in Africa” products in markets across the continent. One main reason for the trade imbalance, said Olabisi Akinkugbe of Canada’s Dalhousie University, is that despite being resource-rich, African countries are not manufacturing enough, with many economies depending on countries outside the continent to add value to their raw materials. Oil-rich Nigeria has only about two working refineries, for example, meaning it had to export crude oil worth about 8 billion naira ($5m) in the second half of 2023 and import finished products like petrol worth 2.5 billion naira ($1.7m). “We need to be thinking big as a continent,” said Akinkugbe. “We continue to be seen as a raw material provider, meaning we are at the bottom of the value chain,” he added, pointing out that the AfCFTA fails to properly address how African countries can use their minerals to tap into the ongoing global transition to green energy. Mandating green product companies like electric car maker Tesla – which sources minerals from the Democratic Republic of the Congo (DRC) – to manufacture on the continent, for example, would boost African pockets and create much-needed jobs. Another issue limiting intra-Africa trade is poor connectivity. Prices of intra-Africa flights are often high and flight routes complicated. The AU’s Single African Air Transport Market (SAATM), launched in 2022 to ease travel across the continent, has seen slow progress. “It is easier to fly to Europe than to fly to some African countries,” Akinkugbe said. Add to that, several countries require visas for other Africans that sometimes take months to obtain. Only Benin, The Gambia, Rwanda and Seychelles operate visa-free policies for all Africans, according to the Visa Openness Index. Libya, Sudan, Equatorial Guinea and Eritrea are the least open, requiring nationals from at least 51 African countries to get a visa. Although official trading kicked off in January 2021, there was no real action until several months later as COVID-19 sent Africa into lockdown. In 2022, the AU launched a pilot programme called the AfCFTA Guided Trade Initiative. Eight countries – Cameroon, Egypt, Ghana, Kenya, Mauritius, Rwanda, Tanzania and Tunisia – were eligible to participate because they had finalised legal agreements and put up product offers. Some 96 products were approved for trade in the pilot programme. In late 2022, Kenya and Rwanda shipped goods like batteries and coffee to Ghana, marking the firstever shipments under the AfCFTA. It was the first time countries used the AfCFTA Rules of Origin certificate – a document and mechanism that certifies that a product has been manufactured using Africa-sourced materials, thus making it eligible for lower customs fees. In January, South Africa joined the approved exporters club when it sent refrigerators, home appliances, and mining equipment to unnamed neighbours. It is unclear just how much the goods traded so far under AfCFTA are worth in total, or how much lower the tariffs were for all three exporting parties – South Africa, Kenya and Rwanda. Then there is the AU’s continuity problem. A promised common passport that will allow holders access to all African countries was supposed to be available in 2022, but is still not forthcoming. Getting past delays and other barriers would require the AU to empower itself to put members in line, said What has happened so far under the AfCFTA? Max Mendez-Parra of the Overseas Development Institute (ODI), a London-based think tank providing research and technical support to the AfCFTA secretariat. “The overcoming of trade barriers is a continuous process,” MendezParra said. “It is hard, and progress needs to be monitored and actors held to account.” Global politics, as well as locally disruptive events, like a current surge in military coups in Africa, might also affect the agreement, Akinkugbe of Dalhousie University said. “See what Russia is doing, pitching Francophone countries against France even as Russian companies are gaining interest in the extractives sector in Africa,” he said, referring to Russia’s increasing influence in Frenchspeaking African countries, at the same time that the United States and China are seeking more African allies. At the AU summit, member states will debate on some of the different protocols comprising the treaty. While the key trading agreement and agreements on how to settle arising disputes are now in force, separate protocols on how to handle issues of intellectual property rights, how to include women, and how to manage cross-country investment and digital trade are still pending and might be approved at the summit. “Negotiations concluded some time ago, but now the political process must begin and the AU giving the nod will mean that states can now move towards ratification,” Mendez-Parra of ODI said. “The last summit in 2023 recognised that the AfCFTA must be complemented by other initiatives, like the African passport, the movement of people and so on. It will be interesting to see the outcomes of the 37th AU summit in terms of the future steer it will provide.” What next? 27 | Vol 16: April 2024 | Business & Finance Issue | www.beadsmag.co.za
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ON THE RISE Advocate Ntombifuthi Ntuli is an accomplished Advocate with proficiency in Labour Matters, Criminal Cases, Civil Disputes and Medical Negligence Claims. Her ability to effectively handle cases has resulted in a track record of successful outcomes. As a devoted Christian mother and grandmother, she embodies strong family values. Born in rural Eshowe Kwazulu-Natal, Futhi- as she is affectionately known to her tribe - attended Gawozi High School where she obtained her Matric qualification. Through sheer hard work coupled with unwavering determination, she attained her LLB Degree before completing pupillage training which paved the way for entry into the prestigious ranks as an Advocate of the South African High Court. She embarked on her professional journey as a Typist in an Administrative Support role for SAPS. Eventually, she progressed to become the Personnel Officer of Provincial SAPS Legal Services. Her growth trajectory was largely influenced by General Pumza Makanya's mentorship, which proved crucial in paving the way for her success and subsequent appointment as a Full-Time Shopsteward for POPCRU Union. In this capacity, she championed numerous disputes that arose across Bargaining Forums while advocating tirelessly on behalf of affected members; it was during these experiences that she discovered her passion for pursuing studies in law. “I faced numerous challenges throughout my life which included negativity, criticism, fear, failure and depression. On top of that, I had to battle sickness and loneliness. To add to the hardship were the losses of my parents and siblings; dealing with their absence was tough for me while being in an abusive relationship only compounded matters leading eventually to a divorce. My daughter, friends, and even strangers provided unwavering support during these trying times. My journey as a Pupil Advocate began with rigorous interviews at the Durban Bar that were both exhilarating and nerve-wracking. After being chosen for the program, I quickly realized it would not be an easy feat - no salary or support for basic living expenses over a yearlong term. Despite this daunting challenge, I committed myself wholeheartedly to the program. My Mentor - Advocate Matlamela was instrumental in providing me muchneeded guidance throughout my pupillage period. Dr. Nomvula Shale from Siphila Ngomusa also extended her help by offering me accommodation and meals during challenging times. Such immense generosity shown by both mentors exceeded any expectations I had. Unfortunately, personal difficulties and a challenging curriculum led to my failing and eventual breakdown. Suffering from an incapacitating stroke left me bedridden with death seemingly just around the corner as supplementary exams approached. With fervent prayers for strength in continuing what I had started while losing weight at an alarming rate - Ms Siphiwe Mpungose kindly offered to pay my registration fees so that I could take my complementary tests. Even though I was unable to stand, and wallow in pain but still driven by perseverance. God mercifully answered desperate pleas whispered in silence and great success was achieved. This is after studying three modules in only two days! Although bereft having lost both parents who would have been proud to witness such achievements- it wasn't enough reason not to celebrate. The next challenge came in seeking an attorney who could advocate on my behalf. It took some time to find one but eventually, I found one who agreed upon a date. While I was celebrating what seemed like a milestone, just days before this scheduled move-in day, the lawyers withdrew their offer due to other pressing obligations. This devastated me completely; at times it felt as if some negative powers were conspiring against me. However, in those moments of despair God's words resonated with me: "When the time is right, I the Lord will make it." These promises sustained hope amidst uncertainty and disappointment. It is the truth that strangers, who believe in us despite not knowing us personally, can save us from confusion and misery. In my case, I met Magistrate Mr Mthethwa on Facebook. The Magistrate used LinkedIn to reach out for help from colleagues within the legal profession. Adv Matodzi Mavhungu responded to this request by examining my papers for admission and discovered multiple errors made by previous attorneys which possibly led to their decision of dropping me without any warning. Adv Mavhungu suggested we resubmit, although it caused frustration but was necessary. A year later after finishing the Pupillage programme finally came January 22nd, 2024 when I stood before Honor-able Judge Khumalo & Justice Van der Weistheizenat Pretoria High Court and was admitted as an Advocate! I love the law because having the opportunity to make a positive impact on society by promoting fairness and aiding individuals and companies with complex legal issues is truly exceptional. 30 | Vol 16: April 2024 | Business & Finance Issue | www.beadsmag.co.za
One of the most memorable occurrences in my journey of law is when I was at Mbonambi Magistrate Court in KZN. My initial case as a lawyer involved defending a client on criminal charges of rape. As it was my first time representing someone accused of such an offense and being female myself, I felt some unease about taking the case. However, thanks to the practical guidance honed during my Pupillage training program; I learned how to remain objective when evaluating evidence meticulously- applying legal knowledge while advocating passionately for the client's rights. So, when - after four months of awaiting trial in confinement - we received positive feedback from the judge and news that the client could be released, I was overjoyed. Being able to deliver this news to his family and friends made me proud. Suddenly all hardship and challenges were forgotten and that moment matted more. I love the law because having the opportunity to make a positive impact on society by promoting fairness and aiding individuals and companies with complex legal issues is truly exceptional. Knowing your work assisted someone in overcoming their obstacles or obtaining fair results is satisfying. Through everything I have been through, I have learned that when faced with obstacles, I prioritize self-compassion and acknowledge that setbacks are a natural part of my journey. Instead of repressing negative emotions or dwelling on disappointment and frustration, I allow myself to feel them fully while avoiding harmful thought patterns. My focus is on treating myself kindly as well as recognizing that no one is immune from adversity. Furthermore, instead of competing against peers when facing challenges, I strive to build connections with mentors/colleagues who can offer valuable advice and encouragement while providing fresh perspectives on the issues at hand. This network acts as an invaluable source in reaffirming resilience through successfully overcoming hurdles by supplying much-needed motivation during difficult times. The advice I could offer individuals facing their own challenges or feeling discouraged is; conquer your fears and defeat failures. Seek support from trusted friends or advisors who can offer motivation or solutions. Identifying barriers is the first step towards overcoming them; implement effective techniques like planning and preparation to successfully reach targets while lessening their hold on you. The journey is only beginning. Currently, I hold the position of Legal Advisor in POPCRU's National Legal Department while simultaneously undergoing parttime Practice Management Training. This training will allow me to qualify as a Trust Account Advocate. Furthermore, I have submitted my application for membership with the South African Bar Association (SABAR). Upon acceptance, I aim to establish my own Chambers in both Durban and Sandton regions. After that, there are no limits. ON THE RISE
The Industrial Development Corporation (IDC) and the IT Labs Foundation have come together in a multi-million-rand intervention to assist the community of KwaMhluntu and the Inhlanganiso Primary school which were severely affected by the floods that hit Ladysmith in the past few weeks. 1 200 Families and 200 learners will be given the necessities they require, from school uniforms to household goods, to help improve the situation they are facing after the devastating floods that damaged their homes, destroyed their belongings and killed 25 people within their community. “As a development funding institution with a mandate to contribute to social development, we have partnered with various community-based organisations and NGOs, who have expertise in disaster management to play our part in assisting communities across the country who have been hard hit by floods and other disasters. Our partnership with the IT Labs Foundation is a pivotal one. IDC is teaming up with young people who are putting up their hands to be part of the solution to improve our country and come to the assistance of those who are faced with challenging life situations,” says Tshepo Ramodibe, the IDC’s Head of Corporate Affairs. The IT Labs Foundation is a 100% youth-owned non profit organisation founded in 2020 with the aim of bringing about social change and economic upliftment to rural and economically marginalised communities in South Africa. It has a deep-rooted focus on youth development, empowering disabled youth and community relief interventions. IDC AND IT LABS FOUNDATION PARTNER TO HELP IN FLOOD DEVASTATED KWAMHLUNTU ‘IT Labs is invested in responding to community needs in South Africa, particularly in KZN as we are from this province. Our work is ongoing following the devastation caused by the recent floods and the continued harsh weather conditions which are being experienced in communities surrounding Ladysmith. Many families, especially child headed homes are still suffering because of these adverse weather conditions,’ says Mduduzi Mchunu, Director at IT Labs Foundation. Since the start of the 2023 festive season inclement weather conditions in KZN have resulted in the death of 40 people across the province, with five others still being unaccounted for. Ladysmith is one of the hardest hit areas, with several businesses and roads continuing to be closed as a result of damage and persistent high water levels. , Our role in society extends beyond a catalytic one for the country’s economy, we are also heavily invested in assisting fellow citizens with humanitarian aid. Timely humanitarian response and partnering with organisations such as IT Labs is a key enabler for us to lend a helping hand to our communities and bring relief where it is needed the most,” adds Ramodibe. The IDC has invested nearly R43 million in humanitarian aid since 2022, with this financial year clocking R 11.88 million thus far. ‘We are all about empowering communities, especially the youth in the areas where we operate and as such, we will also be hosting flood alert and response training which will better equip them with reaction techniques that will go a long way in protecting them and saving lives when they are faced with similariton situations in future,’ adds Mchunu. BUSINESS NEWS Source: IDC Newsroom 32 | Vol 16: April 2024 | Business & Finance Issue | www.beadsmag.co.za
Lengthy sentences for Newcastle crude oil thieves Transnet Pipelines welcomes the conviction of two fuel theft perpetrators by the Newcastle Regional Court on Monday. This outcome follows an operation conducted by The Directorate for Priority Crime Investigation (DPCI), in collaboration with local law enforcement, resulting in the apprehension of four suspects involved in crude oil theft at a Transnet pipeline near the Karbochem factory in Newcastle. The arrests were made during a coordinated operation on the evening of 19 July 2021 and the morning of 20 July 2021, during which 39,000 litres of stolen crude oil were recovered from the scene. The conviction and sentencing underscore the commitment of Transnet Pipelines and law enforcement agencies to combat theft and vandalism of essential infrastructure. "This conviction continues to send a strong message to all criminals and crime syndicates that tampering with our critical and essential infrastructure will not be tolerated, and that the full might of the law will be enforced against anyone caught doing so," said Sibongiseni Khathi, TPL Acting Chief Executive. An arrest warrant has been issued for a third suspect, who is currently evading authorities. Law enforcement agencies are actively pursuing him. One of the suspects cooperated with the state and turned witness. Transnet Pipelines, along with its partners, remains dedicated to strengthening all security measures aimed at enhancing the safety and protection of critical and essential infrastructure. We continue to urge members of the public to report any suspicious activities along the Transnet pipeline to Tip-Offs Anonymous Hotline details below: 0800 003 056 Source: Transnet Newsroom AI continues to transform SA’s workplace Since the launch of ChatGPT in late 2022, the world has been abuzz with talk about the generative AI revolution and what it means for almost every sphere of society. Its impact on the workplace – the way people relate to each other as employees, perform their work duties and integrate technology into their working days and spaces, has generated widespread curiosity. From large corporates and multinationals to the millions of small businesses, many exciting developments are underway. Commenting on this is Kgomotso Ramoenyane, Executive General Manager for Human Resources at Business Partners Limited who says that in a very short space of time, “AI has been catapulted out of the realm of fringe technology and has become part of the mainstream. We’re already seeing its transformative capabilities in several of the country’s most important sectors. According to global consulting firm, Boston Consulting Group, the four most impacted sectors will likely be healthcare, education, financial and agriculture. These sectors – and so many others – rely heavily on supply and service delivery chains that are centred around the capabilities of small businesses. The impact of AI, therefore, will be so much bigger and better than many of us may realise.” 33 | Vol 16: April 2024 | Business & Finance Issue | www.beadsmag.co.za BUSINESS NEWS
BUSINESS SOCIAL SCENE COGTA hosts the Annual Municipal Awards Municipalities contested in 17 categories which focused on various municipal programmes. In a recently held employees engagement session,RBIDZ Executives led by CEO, Thabane Zulu reflected on the status of the company's operational performance, overall state of affairs including governance related topics. RBIDZ long service recognition awards Source: RBIDZ Facebook Page 2024 black industrialists conference 34 | Vol 16: April 2024 | Business & Finance Issue | www.beadsmag.co.za
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