11 months ago

Mpumalanga Business 2020-21 edition

  • Text
  • Invest
  • Business
  • Investment
  • Economy
  • Africa
  • Africa
  • Exxaro
  • Sasol
  • Sappi
  • Economic
  • Programme
  • Manufacturing
  • Province
  • Provincial
  • Sector
  • African
  • Tourism
  • Municipality
  • Mpumalanga
The 2020/21 edition of Mpumalanga Business is the 11th issue of this essential publication that since its launch in 2008 has established itself as the premier business and investment guide for the province. Updated overviews of each of the key economic sectors of the province are included, with references to the latest investments by companies across multiple sectors. These include Sappi, Sasol and Sonae Arauco, which is expanding its White River factory. Afrimat is considering investment in the mining sector, while Exxaro Resources, South32 and Pan African Resources are among the mining companies spending on extending the life of existing mines. A useful article on what incentives are available to investors from various departments and agencies is provided. Mpumalanga has several investment and business opportunities in a wide range of sectors.

OVERVIEW Banking and

OVERVIEW Banking and financial services Banking customers are being offered more choice. All of the big retail banks (Nedbank, Absa, Standard Bank, Capitec and First National Bank) are present in the province’s major towns. Agriculture is an important focus area for banks, and most have specialised divisions such as Nedbank Agribusiness. TWK Agri offers financing and insurance together with the usual suite of agricultural services. Afgri, one of the country’s biggest agricultural companies, offers financial services (financing and insurance) under the brand Unigro. Another source of funding for farmers is the Land and Agricultural Development Bank of South Africa (Land Bank), a development-finance institution that falls under the Ministry of Finance. In 2017 Tyme Digital received a licence to run a bank. By early 2019, TymeBank was available in 500 Pick n Pay and Boxer stores and more than 50 000 customers around South Africa had an account. Tyme stands for Take Your Money Everywhere and refers to the fact that the bank does not have a branch network. The bank is targeting the lowerincome segment and promises speedy transaction and approval times. Second to market among the country’s new banks was Discovery Bank, which officially launched in March 2019. Discovery Bank applies the behavioural model it uses in its health business to reward good financial behaviour. The revitalised African Bank, which was put under curatorship in 2014 by the Reserve Bank, is making a play for new customers with an interesting offering that does not rely so much on digital wizardry as on presenting the customer with enhanced banking facilities. African Bank has created an account that allows up to five additional accounts to be set up in the name of the main account. Fees are only charged for drawing cash or at the time of a transaction. There are no monthly fees for any of the accounts which can be either for saving or transactional. Each user has his or her own card and monies can be moved between accounts, ideal for families. Sanlam has entered two partnerships in the insurance market. African Rainbow Life has launched life cover policies in the lowand middle-income market, in association with Sanlam and African Rainbow Capital. Sanlam is also in a venture with Capitec. In 2019 Financial Mail quoted Capitec CEO Gerrie Fourie saying that the bank was selling 3 000 funeral policies a day. Online Resources Financial Sector Conduct Authority: Public Investment Corporation: South African Reserve Bank: Sector Insight African Bank is competing for new customers. eMbalenhle has a new Ubank branch. Situated at the Mall@Emba, the branch will serve customers from Secunda and other areas such as those that used to bank at a branch at the Kinross mine, which has been closed. Ubank, eMbalenhle In line with modern trends towards digital banking, the new Ubank branch has internal and external facing digital walls. The screens promote new products and campaigns, give customers information and provide financial education. A feature that is designed to support local artists is the Feature Wall. Banks are working hard to offer products to the previously unbanked. Nedbank has partnerships with shops such as Boxer Stores and Pick n Pay where customers can have access to financial services in previously unserviced areas. ■ MPUMALANGA BUSINESS 2020/21 36

Education and training Robotics and Coding are now part of teacher training. OVERVIEW Image: Sasol Foundation Agroup of Mpumalanga teachers has had the opportunity to train as master teachers for Robotics and Coding, courtesy of Sasol. The Sasol Foundation has also donated multimedia resources for teachers and pupils in Science, Technology, Engineering and Mathematics (STEM). An amount of R40-million was allocated by the Mpumalanga Provincial Government for the 2020/21 financial year in support of the Youth Development Fund, which was seeded the previous year with funding of R10-million. The Mpumalanga Regional Training Trust (MRTT) is a Section 21 company with several sites in the province, including a Hospitality and Tourism Academy at Karino outside Nelspruit. The trust’s constructiontraining facility is accredited as a Construction Centre of Excellence. The Southern African Wildlife College is located near the Orpen Gate on the edge of the Kruger National Park. A public-private partnership, MRTT intends increasing graduate numbers and is aiming for 50 000 young people to be trained in courses such as plumbing, painting, electrical, bricklaying and plastering in the three years to 2023. A provincial bursary scheme has assisted more than 3 334 students who are studying in fields such as medicine, veterinary science, information technology, aviation, education and engineering. The artisan development programme in partnership with Hydra Arc is progressing well, with Sasol having committed to taking on all qualified Online Resources Mpumalanga Department of Education: Sasol bursaries: Southern African Wildlife College: University of Mpumalanga: Sector Insight R40-million has been allocated to the Youth Development Fund. apprentices from the academy in Secunda. The University of Mpumalanga enrolled 3 220 students in 2019, a marked increase on quiet beginnings in 2014 when the university started life with 167 students. The university has added bachelor’s degrees in arts and commerce to its initial offering of academic courses in education and agriculture and a diploma in hospitality. Geology will soon be offered as part of a BSc. The main campus is at Mbombela with satellites at Siyabuswa (a former education college) and KaNyamazane, which hosts hospitality studies. Mpumalanga has three Technical and Vocational Education and Training (TVET) Colleges, with an enrolment of over 36 000. UNISA, the Tshwane University of Technology and the Vaal University of Technology also have satellite campuses in the province. A sixth rural boarding school, Thaba Chweu Boarding School in the Ehlanzeni District, has opened and a further six are due for construction. These schools make access to education easier for rural children who would otherwise have to travel long distances. ■ 37 MPUMALANGA BUSINESS 2020/21

Other recent publications by Global Africa Network: