Opportunity Issue 111

CONTENTS ISSUE

CONTENTS ISSUE 111 | NOVEMBER/DECEMBER/JANUARY 2025 08 12 16 20 30 34 36 38 EDITOR’S NOTE Can industrial policy stand the strain? SACCI SACCI has been active in hosting a series of trade delegations from South America and Asia, as well as working to coordinate business relationship across the African continent. PROMOTING FOOD SECURITY, BUILDING A SUSTAINABLE BUSINESS Foskor’s remarkable financial turnaround has not only ensured reliable and increasing supplies of vital fertiliser, it has put the company on a firm footing for future expansion. AT THE COALFACE OF CHANGE Reflecting on the burning issues of sustainability and the coal-mining sector, Arjen de Bruin, Group CEO at OIM Consulting, writes on the state of play in South Africa. THERE IS A HUGE OPPORTUNITY Opportunity spoke to Peter Venn, CEO of Seriti Green, about his company’s multi-billion-rand new project in Mpumalanga and about the state of the renewable energy sector in South Africa. MPUMALANGA’S RENEWABLE SHIFT TO SUSTAINABILITY Mpumalanga is emerging as a pivotal player in South Africa's dynamic renewable energy landscape, writes Santosh Sookgrim, Senior Technical Advisor at the South African Wind Energy Association (SAWEA). NEW PRODUCT OFFERS HOUSEHOLDS CHEAPER POWER South Africa’s first residential-power-purchase agreement comes in the context of rising electricity costs. Xavier Louw, Director of Operations at GreenSun Renewable Energy, says the opportunities are endless. 100 YEARS OF MAKING CARS IN SOUTH AFRICA The South African automotive industry has developed into a sophisticated and varied sector which makes an important contribution to the country’s export basket. By John Young. 16 20 30 EDITOR’S CHOICE Seriti Green is building a huge wind farm in Mpumalanga. 38 EDITOR’S CHOICE The South African automotive industry celebrates its centenary.

How insurance can protect your bottom line BUSINESS INSURANCE TIH Advisory offers financial advice and a wide range of insurance and investment options. CEO Bongani Mageba outlines how important it is to have a tailored plan to suit specific needs. Why is business insurance essential? No matter the size of the business, risks are present. Small businesses may be particularly vulnerable because a single large claim or lawsuit can threaten their financial viability. Insurance helps cover costs related to legal claims and damages – and even business disruptions. By having the right insurance, businesses safeguard their assets, employees and reputation, ensuring continuity in case of disasters or unforeseen risks. What are the key types of business insurance policies which business owners should consider, and how do they differ? • General liability insurance: Protects against third-party claims for bodily injury and property damage. It’s broad and covers many of the common risks businesses face. • Property insurance: Covers damage to business property, including buildings, equipment and inventory in the event of fires, theft or natural disasters. • Vehicle insurance: Covers vehicles used for business purposes, offering protection against accidents, theft and liability. However, there is also specific insurance that covers unique nuances of a business. TIH Advisory specialises in providing advice on cover for over 700 different business types. The bottom line is that no business has the same needs and that’s why personalised advice is important. What is the role of business-interruption insurance, and why should it be a key part of a company’s risk-management strategy? It’s designed to protect your business from losing income as a direct result of physical damage to your business property by a covered event as specified in your policy. This coverage is crucial because, even with property insurance, businesses may suffer financially if they are unable to operate for an extended period. Business-interruption insurance helps bridge the income gap, allowing the company to continue paying its obligations and minimising long-term financial damage. In today’s environment of increasingly unpredictable events, it’s a vital component of a comprehensive risk-management strategy. What is the difference between specialist liability and a standard business-insurance policy? Specialist liability insurance provides coverage for specific risks and industries that may not be covered under a standard business-insurance policy. It addresses concerns unique to certain Bongani Mageba, CEO of TIH Advisory professions or sectors. For example, professional-liability insurance covers errors, omissions or malpractice in the legal profession or consulting, where a standard general-liability policy wouldn’t apply. A standard business insurance policy – such as general liability or property insurance – offers broad coverage that may not address specific risks that arise from professional services, product manufacturing or industry-specific hazards. Businesses in specialised industries often require additional or custom policies to ensure comprehensive protection. How can businesses assess the right amount of coverage they need for their operations? TIH Advisory can help. We will take the time to understand your business and the goals you have before we advise you and do a thorough assessment to identify your insurance needs. For advice on your risk management strategy, contact us today. https://tihsa.co.za TIH Advisory is powered by some of South Africa’s leading licensed insurers and financial service providers. Ts & Cs Online www.opportunityonline.co.za | 5