Workplace culture has become one of the most significant factors influencing job satisfaction, employee retention, and overall business success. It’s no longer just about a competitive salary or a stylish office space—employees want to work in an environment that motivates, inspires, and values them. Companies that prioritise a strong, positive culture don’t just benefit from happier employees; they see measurable results—from increased productivity to improved customer relationships. “A thriving workplace culture isn’t just about perks—it’s about building a space where creativity flows, collaboration thrives, and employees feel truly valued,” says Ryan Nofal, Co-Managing Director at Penquin, a brand and communication agency. “A great company understands that its…
Author: Staff Writer
South Africa’s official unemployment rate decreased by 0.2% to 31.9% in the fourth quarter of 2024, according to Statistics SA. The number of employed people increased by 132,000 to 17.1 million. However, the number of discouraged work-seekers, who have given up on looking for a job, increased by 3.3% to 111,000. This means the expanded unemployment rate, which includes discouraged workers, remained unchanged at 41.9%. The formal sector created 90,000 new jobs, with significant increases in finance and manufacturing. However, sectors like trading, construction, and mining lost jobs. Graduates saw a significant drop in unemployment, from 9.8% to 8.7%. In…
SARS Commissioner Edward Kieswetter has expressed concerns about hiking taxes, saying it may not be the best solution. Instead, he believes investing in SARS would help collect the estimated R700 billion to R800 billion in uncollected taxes. Kieswetter notes that the last VAT increase in 2018 did not significantly boost revenue. He suggests that modernizing SARS would improve tax collection, broaden the tax base, and enhance compliance. The estimated R700 billion to R800 billion in uncollected taxes includes R450 billion to R460 billion from theoretical modeling and over R300 billion from outstanding tax returns. Kieswetter emphasizes the need to address…
The South African National Roads Agency (Sanral) has suspended a R1.57 billion contract awarded to a Chinese joint venture, pending an investigation. The contract was for the improvement of a section of National Route 1. Sanral reached an agreement with Hillary Construction, the second-lowest bidder, to suspend the contract. The investigation will look into allegations related to the evaluation, adjudication, and awarding of the tender. Sanral said disputes can be expected in large tenders and that the investigation will be conducted quickly. The agency also noted that its procurement processes have multiple checks and balances to prevent irregularities. Interestingly, the…
Naspers’ share price has reached a new record high, closing at nearly R4,703 on Monday. This surge is largely due to the strong performance of Tencent, in which Naspers has a significant stake. Tencent’s share price increased by HKD31.60, adding HKD290 billion to its market capitalisation. This increase has boosted Naspers’ net asset value (NAV) by around R178 billion. Analysts attribute the rally in Naspers’ share price to renewed interest in Chinese tech, driven by excitement around China’s DeepSeek AI breakthrough. Nadine Chetty-Khan, investment analyst at Old Mutual Wealth, notes that Naspers offers unparalleled exposure to high-growth online markets. Naspers’…
BHP, the world’s largest mining company, has reported a 23% decline in profit for the first half of the year. The company’s underlying attributable profit fell to $5.1 billion, despite an increase in copper, iron ore, and steelmaking coal sales. The decline in profit was mainly due to low iron ore and steelmaking coal prices. However, copper production increased by 10% year on year, making up a greater proportion of BHP’s earnings. BHP CEO Mike Henry said that the company is focusing on organic growth, rather than mergers and acquisitions, due to challenging market conditions. “It’s increasingly challenging to do…
Johnson & Johnson (J&J) is facing a critical test in its bid to settle thousands of lawsuits alleging that its baby powder caused ovarian cancer. The company has proposed a $10 billion settlement through a subsidiary’s bankruptcy. A US bankruptcy judge, Christopher Lopez, will decide whether to approve J&J’s proposal during a weeks-long court hearing. The company is trying to use a subsidiary’s bankruptcy to resolve lawsuits from over 62,000 plaintiffs. J&J denies that its baby powder and other talc products were contaminated with asbestos and caused cancer. However, courts have rejected the company’s two previous attempts to resolve the…
DRDGold has reported a significant 65% increase in earnings for the six months ended December, thanks to soaring gold prices. The company’s headline earnings rose to R970.1 million, or 112.6 cents per share. As an unhedged gold producer, DRDGold was able to take full advantage of the 26% rise in the average rand gold price. CEO Niël Pretorius said the gold price performed exceptionally well, and the company was able to benefit from it. Gold production increased by 1% to 82,434 ounces, while gold sales also rose by 1% to 82,531 ounces. However, all-in-sustaining costs rose by 6% to $1,670…
Anglo American has agreed to sell its nickel business to MMG Singapore Resources for up to $500 million (approximately R7.5 billion). The sale includes two ferronickel operations in Brazil and two greenfield growth projects. The move is part of Anglo’s restructuring plan, which aims to simplify the company’s portfolio and focus on copper, iron ore, and fertiliser businesses. Anglo CEO Duncan Wanblad said the sale marks an important milestone in the company’s transformation. The sale price includes an upfront payment of $350 million, with the potential for an additional $100 million based on future nickel prices. MMG Singapore Resources will…
Kumba Iron Ore’s earnings have taken a hit due to lower iron ore prices and sales. The company’s revenue fell by 21% to R68.5 billion, while its adjusted earnings before interest, tax, depreciation, and amortization (ebitda) dropped by 38% to R28.1 billion. The decline in revenue was mainly due to a 21% decrease in the average iron ore price, which resulted in a R17.6 billion decrease in revenue. Additionally, a 2% decrease in sales volumes and a 1% stronger rand also contributed to the decline. However, Kumba’s cost-cutting measures have been successful, with the company achieving R4.4 billion in savings,…