Tag Archives | DTI

A glimmer of hope as South Africa now spends more than a year ago

SOUTH Africans have received a glimmer of hope that the economy may just be improving with the recent release of an index which reveals that South Africans are spending more money in more transactions than a year ago. The latest BankservAfrica Economic Transaction Index (BETI) shows a year-on-year increase for July of 3.9% in the… [Continue Reading]

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Disbelief after landing Telkom contract

  IN a decade of inspirational personal growth, company owner Sibongile Mphilo went from petrol attendant to successful security boss. Her success in a male-dominated industry was met with disbelief by competitors, who accused her of being a front for major security companies. “This motivated us to work even harder and learn as much as… [Continue Reading]

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Can you afford poor cash control?

FINANCIAL CONTROL is one of the most important areas in any business, yet it is shocking to see how some business owners often take for granted the availability of funds. I have seen how even good businesses with strong client bases have closed down because of poor or improper management of money. In my 10… [Continue Reading]

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Transnet to roll out new support hubs

BUSINESS owners and suppliers will be able to get valuable business support with state entity Transnet set to roll out business support hubs across the country. This follows the launch in Johannesburg in August of the Transnet enterprise development hub by the Minister of Public Enterprises Minister Malusi Gigaba. The hub, based at the Carlton… [Continue Reading]

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Learning from failures pays off over time

MAKHATHO TOMMY says his success as owner of the largest wholly black-owned retail operation in South Africa is mainly due to having learnt from his past failures and those early businesses where he came to understand that planning and staying close to your customers are most important in achieving good results. It took 25 years… [Continue Reading]

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DTI issues incentive scam warning

The Department of Trade and Industry (DTI) has issued a warning to investors, potential and emerging businesses and business organisations, as well as the public at large, of a bogus incentive scheme allegedly involving the department that is circulating on the internet. A fraudulent letter bearing the DTI’s logo and branding is doing the rounds… [Continue Reading]

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New body to prevent unwanted BEE Practices

A NEW commission is to be established to curb fronting and other unwanted BEE practices. According to spokesperson for the Department of Trade and Industry, Sidewell Medupe, a BEE commission will be set up to curb fronting and allow people to report on BEE noncompliances. “At the moment we don’t have any monitoring of BEE.… [Continue Reading]

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New co-operatives agency: more training and support on the way

CO-OPERATIVES and those looking to establish co-operatives can look forward to increased support from the Department of Trade and Industry (DTI). The DTI plans to boost support to co-operatives, said Minister of Trade and Industry Rob Davies at the recent celebration of the contribution made by cooperatives, held in Durban on International Day of Cooperatives.… [Continue Reading]

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Up to ten years in prison and stiff fines for fronting as BEE rules tightened up

THE Department of Trade and Industry (DTI), in cooperation with the Department of Labour, is currently progressing an amendment to the existing broad-based black economic empowerment(BBBEE) legislation, which could see the criminalization of private-sector BBBEE fronting and the possible imprisonment of executive managers found to be complicit. The amendment, which was currently before Parliament, proposed… [Continue Reading]

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