Opportunity - Issue 94
Quarterly journal for business and industry in South Africa Business unusual It has been estimated that the economy will take two to three years to recover from Covid-19 and the subsequent economic collapse. From now to there, the journey will indeed be business as unusual. My pledge, as the new editor of Opportunity magazine, is to provide cutting-edge content that guides our readers on how to rise above the current business trajectory and to circumvent the consequences that are now laid before them. In this issue, Mike Townshend from Foord Asset Management writes, in ‘The evolving politics of oil’ (page 8), that oil has caused wars, assassinations, man-made disasters, coups and still affects every person in the world today. On page 10, Rebecca Major from leading global law firm, Herbert Smith Freehills, shares her insight on how to navigate African oil and M&A deals in these volatile times. Both of these writers will present more on these topics at Africa Oil Week. The transport services sector has been severely affected by the pandemic, but help is at hand. Digital transformation is set to disrupt the sector – technology has transformed the railway industry globally and implementing technological innovations could be a game-changer for rail transport in South Africa. Read more on page 17. Celebrating Women’s Month in August, Opportunity interviews the newly appointed CEO of Petroleum Agency South Africa, Dr Phindile Masangane (page 12), as well as founder and owner of Nemesis Accounting, Shani Naidoo (page 14). The South African Chamber of Commerce and Industry (SACCI) has a pivotal role to play in guiding the business of its 22 000 members. The Chamber believes that businesses should actively engage in the strategic and recovery implementation processes towards inclusive growth – read more in the CEO’s message on page 4. Let’s work together in building a resilient, risk-savvy and formidable nation. Alexis Knipe, Editor
Quarterly journal for business and industry in South Africa
Business unusual
It has been estimated that the economy will take two to three years to recover from Covid-19 and the subsequent economic collapse. From now to there, the journey will indeed be business as unusual. My pledge, as the new editor of Opportunity magazine, is to provide cutting-edge content that guides our readers on how to rise above the current business trajectory and to circumvent the consequences that are now laid before them.
In this issue, Mike Townshend from Foord Asset Management writes, in ‘The evolving politics of oil’ (page 8), that oil has caused wars, assassinations, man-made disasters, coups and still affects every person in the world today. On page 10, Rebecca Major from leading global law firm, Herbert Smith Freehills, shares her insight on how to navigate African oil and M&A deals in these volatile times. Both of these writers will present more on these topics at Africa Oil Week.
The transport services sector has been severely affected by the pandemic, but help is at hand. Digital transformation is set to disrupt the sector – technology has transformed the railway industry globally and implementing technological innovations could be a game-changer for rail transport in South Africa. Read more on page 17.
Celebrating Women’s Month in August, Opportunity interviews the newly appointed CEO of Petroleum Agency South Africa, Dr Phindile Masangane (page 12), as well as founder and owner of Nemesis Accounting, Shani Naidoo (page 14).
The South African Chamber of Commerce and Industry (SACCI) has a pivotal role to play in guiding the business of its 22 000 members. The Chamber believes that businesses should actively engage in the strategic and recovery implementation processes towards inclusive growth – read more in the CEO’s message on page 4.
Let’s work together in building a resilient, risk-savvy and formidable nation.
Alexis Knipe, Editor
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FOREWORD<br />
African population, but is also having a significant<br />
impact on our businesses. In its efforts to cushion the<br />
business community, SACCI continues to play a pivotal<br />
role in advocating for the consideration of reasonable<br />
accommodation for essential services and other key<br />
sectors of the economy, especially for small and medium<br />
businesses, and engages with the government in<br />
strategic mitigation processes to ease lockdown for the<br />
survival of businesses, from the onset of the lockdown.<br />
___ ___ __ _ _<br />
The coronavirus is<br />
affecting not only<br />
the health, daily life<br />
and psychological<br />
wellbeing of the<br />
South African<br />
population, but<br />
is also having a<br />
significant impact<br />
on our businesses<br />
___ __ ___ __ _ _<br />
Though working remotely,<br />
SACCI continues to see an influx<br />
of requests for intervention by<br />
members for assistance in the<br />
day-to-day management of their<br />
business in these unprecedented<br />
times. The South African Chamber<br />
of Commerce and Industry has<br />
reached out to its over 22 000<br />
members with daily business<br />
updates on coping, mitigation<br />
reports, requests for comments<br />
on policy and regulatory input<br />
by members, as well as general<br />
support for business survival and<br />
return to work preparation and<br />
compliance plans, and assistance<br />
with access to financial relief<br />
platforms for small businesses.<br />
SACCI believes that businesses should more actively<br />
engage in strategic and recovery implementation<br />
processes which include contingency planning,<br />
financial recovery strategies and legislative compliance<br />
challenges, as well as communication, especially<br />
with employees, to manage the psychological impact<br />
of Covid-19 imposed changes and conduct scenario<br />
analysis towards inclusive growth. This, we hope, will<br />
pave the way towards the recovery of our economy.<br />
Alan Mukoki,<br />
SACCI CEO<br />
___ __<br />
1<br />
Publication by<br />
Modelling and<br />
Simulation Hub, Africa<br />
(MASHA), University<br />
of Cape Town; South<br />
African DSI-NRF<br />
Centre of Excellence<br />
in Epidemiological<br />
Modelling and Analysis<br />
(SACEMA), University<br />
of Stellenbosch;<br />
Health Economics<br />
and Epidemiology<br />
Research Office<br />
(HE2RO), University of<br />
the Witwatersrand,<br />
Johannesburg; Boston<br />
University School<br />
of Public Health;<br />
National Institute<br />
for Communicable<br />
Diseases (NICD),<br />
South Africa.<br />
www.opportunityonline.co.za | 5
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