4 years ago

Limpopo Business 2019-20 edition

  • Text
  • Sez
  • Africa
  • Africa
  • Finance
  • Development
  • Education
  • Logistics
  • Transport
  • Agriculture
  • Industrialization
  • Sectors
  • Business
  • Investment
  • Industrial
  • Polokwane
  • Mining
  • Tourism
  • Economic
  • Province
  • Limpopo
The 2019/20 edition of Limpopo Business is the 11th issue of this highly successful publication that, since its launch in 2007, has established itself as the premier business and investment guide for the Limpopo Province. Limpopo has several investment and business opportunities. In addition to the regular articles providing insight into each of the key economic sectors of the province, there are special features on various Special Economic Zones (SEZs) which aim to drive industrialization in the province and the initiatives which are further enhancing the tourism offering in Limpopo. News related to mining, agriculture, transport and logistics, education and development finance is carried in overviews of the main economic sectors in the province. To complement the extensive local, national and international distribution of the print edition, the full content can also be viewed online at Updated information on the Limpopo is also available through our monthly e-newsletter, which you can subscribe to at, in addition to our complementary business-to-business titles that cover all nine provinces as well as our flagship South African Business.

OVERVIEW establishing a

OVERVIEW establishing a local life insurance company. These initiatives aim to make banking more accessible for rural communities and to make finance more readily available to small and micro-sized businesses. Trying to integrate small business into the mainstream economy is a major goal of national and provincial governments in South Africa. VBS Mutual Bank, one of three mutual banks in South Africa, was placed under curatorship in 2018. The appointed curator was not able to confirm all deposits. In the lead-up to the bank not being able to meet its commitments, municipalities had been making deposits to the bank although these violated restrictions put in place by the National Treasury. VBS began life as the Venda Building Society in 1982. The Public Investment Corporation held 34% of equity. To support entrepreneurial students, the University of Limpopo has set up the Limpopo Student Seed Fund together with the SAB Foundation. The signing ceremony for the fund is shown in the photograph on the previous page. Support will be offered to businesses that promise to find solutions to social problems such as unemployment and hunger. Ubank is owned by a trust that is managed by the Chamber of Mines and the National Union of Mineworkers (NUM). It has about 100 branches and a strong presence in Limpopo because of its focus on the mining sector. Ubank has about half-a-million clients. South Africa’s four big retail banks (Nedbank, Absa, Standard Bank and First National Bank) have a solid presence in the major towns in the province. Agriculture is an important focus area for banks and so they have established specialised units such as Nedbank Agribusiness. Focus areas for this unit are agronomy (grain, oil seeds, sugar and cotton), livestock (including game farming), horticulture (fruit and vegetables, for example), and secondary agriculture which covers agricultural processing and storage. The two most active agricultural companies in Limpopo are both registered financial service providers. NTK, a subsidiary of the Free State-based VKB, has access to lending for farmers and insurance products. Afgri offers the same services under the brand Unigro, and it has another service called Gro Capital Financial Services which offers ONLINE RESOURCES National Credit Regulator: Office of the Auditor-General of South Africa: Post Bank: South African Institute for Chartered Accountants: more sophisticated products such as trade finance, foreign exchange and currency, and interest rate hedging. Banks are actively working to sign up more of the unbanked population. Nedbank has Approveit, which allows customers to accept or reject an Internet transaction by cellphone. Nedbank also has partnerships with shops such as Boxer Stores and Pick n Pay where customers can have access to financial services in previously unserviced areas. Some of Nedbank’s other innovations include Home Loans Online Digital Channel and Market Edge, together with the Nedbank App Suite. The Keyona Plus account includes funeral cover, a loan facility and a method of transferring money. The Nedbank4me account is tailored to the youth market. The insurance market has adapted to specific market segments, including middleincome earners. A typical example of a new product is Old Mutual’s iWYZE medical gap cover, designed to pay the difference between what a medical aid scheme is willing to pay and the fee of the hospital or doctor. Relative newcomer, Capitec, is rapidly moving towards being part of a Big Five and it announced in 2018 that it would partner with Centriq Life to enter the insurance market. Capitec has no fewer than 69 branches and ATMs outlets in Limpopo, suggesting that its low-cost banking model is popular. LIMPOPO BUSINESS 2019/20 72

SMME Development Programme Limpopo Jewellery Business Incubator’s SMME Development Programme identifies jewellery businesses which need assistance with developing and growing their businesses. After a needs analysis interview is conducted, a comprehensive development and growth plan is put in place. The entrepreneurs enter a three-year incubation programme where they are offered business assistance, training and development, guidance, mentoring and ongoing support. .6 CENTER PRODUCTION jewellery and the aim is to Entrepreneurs who meet the following sure The its Centre requirements manufactured should its apply: own jewellery pieces for Entrepreneurs exhibitions, who have shop formal sales trading and jewellery the ufactured bridal boutique Interested in town. entrepreneurs The main should aim email is to their team: boost sales applications and to: also to ensure its sustainability. Mabatho Malatji: or Frans Nkuna: 3.6 CENTER PRODUCTION Tel: +27 15 293 0214​ Below are Fax: some 086 of 232 the 7348 products manufactured The Centre manufactured its own jewellery and repairs by the Centre Production team: pieces for exhibitions, shop sales and the bridal boutique in town. The main aim is to boost sales and also to ensure its sustainability. businesses and also those who are trading without a formal business. Entrepreneurs who have passion in the jewellery sector with or without a jewellery qualification. Who qualifies? South African citizens. Youth and adults. The following documents are required for application: Application letter; CV with supporting documents; company registration documents (if applicable); portfolio of evidence. Benefits include full access to a workshop with state-of-the-art machinery, business skills training, mentoring, facilitate access to market and funding. Technical training is offered in metal, glass beads, costume and traditional beads. New physical address: Seshego Industrial Park, 7 Freedom Drive, Zone 6, Seshego 0742 Email: Website: Below are some of the products manufactured and repairs by the Centre Production team: Limpopo Jewellery Business Incubator (LJBI) is a jewellery design and manufacturing business incubator which is unlocking the potential of technical graduates and promoting entrepreneurship. Products illustrated here range in price from R150 to R550. The LJBI offers training in jewellery design and manufacturing and fosters a culture of entrepreneurship among marginalised black communities. Accreditation and licences: • Precious Metal Jeweller’s permit • Member of JCSA • Full accreditation by MQA • ISO 9001:2015 certificate • Import and Export permit • Member of Proudly South African

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