North West Business 2018 edition
A unique guide to business, investment and Tourism in the North West, the 2018 edition of North West Business is the eighth issue of this highly successful publication that, since its launch in 2009, has established itself as the premier business and investment guide to the North West Province. North West Business includes news and analysis of the most important economic sectors and interviews with some of the province’s active business leaders and investors. To complement the extensive local, national and international distribution of the print edition of the journal, updated information on the North West is also available through our monthly e-newsletter, which you can subscribe to online at www.globalafricanetwork.com, in addition to our complementary business-to-business titles that cover all nine provinces as well as our flagship South African Business title.
A unique guide to business, investment and Tourism in the North West, the 2018 edition of North West Business is the eighth issue of this highly successful publication that, since its launch in 2009, has established itself as the premier business and investment guide to the North West Province.
North West Business includes news and analysis of the most important economic sectors and interviews with some of the province’s active business leaders and investors.
To complement the extensive local, national and international distribution of the print edition of the journal, updated information on the North West is also available through our monthly e-newsletter, which you can subscribe to online at www.globalafricanetwork.com, in addition to our complementary business-to-business titles that cover all nine provinces as well as our flagship South African Business title.
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OVERVIEW<br />
Banking and financial services<br />
New state banks are to be formed.<br />
If poor people are to be helped by government and municipalities,<br />
then the budgets of those entities have to be efficiently administered.<br />
In the presentation of the 2016/17 budget of the Department of<br />
Finance, Economy and Enterprise, it was reported that the Provincial<br />
Government of the <strong>North</strong> <strong>West</strong> is improving with regard to audits, but<br />
that local municipalities are getting worse.<br />
Three provincial departments have been mandated to improve<br />
the financial performance of municipalities. Steps include monthly<br />
meetings between Treasury officials and mayors and standard contracts<br />
for managers. The Chartered Institute for Government Finance, Audit<br />
and Risk Officers trains and rewards entities such as city councils for<br />
clean audits. Dr Ruth Segomotsi Mompati District Municipality won an<br />
award in 2016 for risk management.<br />
Whereas the private sector is the biggest factor in the banking<br />
sector, there are growing moves by the state to become involved. Post<br />
Bank, a division of the South African Post Office, is far advanced in its<br />
application for a full banking licence and a further two state banks are<br />
planned: Ithala (currently an enterprise funder in KwaZulu-Natal) and<br />
a Human Settlements Development Bank, which will focus on housing<br />
SECTOR INSIGHT<br />
The <strong>North</strong> <strong>West</strong> is<br />
planning a R10-billion<br />
investment fund.<br />
• Municipalities will be<br />
assisted to achieve clean<br />
audits.<br />
for poorer households and statefunded<br />
housing projects. This may<br />
have relevance for a province such<br />
as <strong>North</strong> <strong>West</strong>, which has a big<br />
rural population.<br />
The <strong>North</strong> <strong>West</strong> Provincial<br />
Government itself is planning<br />
to create a fund to stimulate investment.<br />
The planned People’s<br />
NORTH WEST BUSINESS <strong>2018</strong><br />
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