These are just the highlights, so be sure to listen to the full episode on the Moneyweb website or wherever you get your podcasts.
Moneyweb@Midday goes live weekdays at noon and then as a podcast.
Employment in the metals and engineering sector has fallen from 500,000 to just over 300,000 over the past few years. Revealing these alarming statistics, Tafadzwa Chibanguza, CEO of the Southern African Steel and Engineering Industries Confederation (Seifusa), attributes the numbers to low GDP growth and the structure of the export market. The change resulted in a power crisis.
Mr Chibanguza stressed that the sector risks continued decline, especially in the absence of energy and rail reform and addressing the aging of local governments. Although there are some early signs of reform, the private sector is hesitant given the speed of change required. Nevertheless, businesses are intervening at local government level to help them survive, highlighting the urgency for reform to prevent further job losses and industry decline.
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Will 2024 mark the end of remote work? Contract Understanding CEO Norman Kretzmer discusses the challenges of returning to the office post-Covid-19 and the importance of physical presence to maintain company culture I emphasized. He proposed a hybrid work model and outlined his company's phased approach to hybrid work. Kretzmer pointed to the challenges of remote work, including home workspace issues and interruptions, and warned against asking too much of individuals. He emphasized the need for equal opportunities for both in-office and remote workers, highlighting broader aspects of business operations beyond pure productivity.
You can also listen to this podcast at iono.fm.
Download the free LiSTN audio app on Google Play, Apple, or here.
Transparency International's Corruption Perceptions Index (CPI) report shows a decline in perceptions of corruption in South Africa. Wayne Duvenage of the Organization to Undo Tax Abuse (Outa) blames this decline on a lack of political will, inadequate funding sources and levels of corruption that have persisted since the Zondo Commission. Duvenage emphasizes the need to empower the National Prosecuting Authority (NPA) and involve civil society in fighting corruption.
South Africa's classification as a flawed democracy has raised concerns about global perceptions affecting foreign investment. Duvenage called for a collaborative effort between businesses, civil society and governments to tackle corruption and protect whistleblowers.
You can also listen to this podcast at iono.fm.
Download the free LiSTN audio app on Google Play, Apple, or here.
Finally, the 2023 Global Entrepreneurship Monitor South Africa (Gem SA) report shows that early stage entrepreneurial activity has declined below pre-pandemic levels. Professor Natanya Meyer believes this is due to the surge in business due to the pandemic, resulting in higher failure rates. Fear of failure, heightened by a difficult business environment, reduces entrepreneurial motivation. Despite the concerns, slight improvements in recent data suggest an increase in positive sentiment. Meyer recommends fostering a strong entrepreneurial culture by addressing financial access, government support, and education to improve various framework conditions for business growth.
You can also listen to this podcast at iono.fm.
Download the free LiSTN audio app on Google Play, Apple, or here.
