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June 27, 2017

South African banks rated strongest in the world

The international banking advisory group, Lafferty, has rated South African banks as the strongest globally. Lafferty ranked 100 major banks in 32 countries for long-term stability and quality of service in the corporate and retail banking industry.

The group said independent downgrades that recently plunged South Africa into junk status haven’t affected the quality of the banks. The five South African banks in the study were Absa, Capitec, First Rand, Nedbank and Standard Bank.

This is the second year in a row that South African banks have achieved the highest ranking.

Source: https://www.enca.com/money/sa-banks-rated-strongest-globally

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June 12, 2017

15 Business Tips Every Entrepreneur Should Know

The biggest problem founders and small business owners have is that they’re experts in their field and novices in what it really takes to effectively run a business. That’s what usually trips them up, sooner or later. Don’t let that happen to you. Admit that you don’t know what you don’t know about business, starting with these 15 tips guaranteed to help keep you and your company out of hot water. Some are straightforward, others are counter intuitive, but they’re all true. And some day they’ll save your butt.

Always make sure there is and will be enough cash in the bank. Period. The most common business-failure mode, hands down, is running out of cash. If you know you’ve got [...]

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June 2, 2017

The big chance for takealot

For fast-growing online businesses operating in a fiercely competitive world, staying ahead of the game is a cash-burning exercise. Last month’s R960m investment by Naspers* in takealot, which owns online retailers takealot and Superbalist as well as Mr D Food and Mr D Courier, gives takealot the cash it needs to scale up. “Our models are well-established, but these businesses need cash to scale,” says founder and CEO Kim Reid. “We are not trying to build a small retailer,” he says. “We are investing in our platform and in attracting new users.” For companies like takealot, attracting more users and making more sales increasingly offsets high fixed overheads, and profitability [...]

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March 31, 2017

South African wine producers target China

South African vintners are busy in China. In March, South African wines appeared at the “Great Wines of Southern Hemisphere 2017” trade show, which took place in the southern city of Chengdu just before China’s largest annual food and wine fair.

This month they will be participating in a series of promotions culminating in the “Discover South Africa” tasting event in Shanghai on 27 April. According to Michaela Stander, market manager for Asia at Wines of South Africa (WOSA), this will include about 20 exhibitors showcasing over 200 wines. And that’s not all.

In May, Shanghai will host SIAL China, one of the largest food exhibitions in Asia, where South African wines [...]

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