Category: Business- Africa

Are you a small business owner looking to get the best deals from your suppliers? You’re not alone. For many small businesses, managing cash flow and keeping costs down can ensure the continuity of the business. One powerful way to do that is to learn how to negotiate better terms with your suppliers.

Negotiating may sound intimidating, especially if you’re just starting out or don’t think you have much leverage. But with the right approach, even small buyers can secure better prices, payment terms, or extras, without straining your supplier relationships.

1. Ensure You Provide Value

Your negotiations with your supplier should not make you come across as someone who’s just there to take without giving anything back. This isn’t a one-sided transaction, it’s a relationship. And like any relationship, it needs to benefit both sides.

One way to provide value is by showing your supplier that you’re reliable and easy to work with. Do you pay on time? Are your orders consistent? Do you communicate clearly and stick to agreed timelines?

You can also offer value in other ways, like promoting their brand on your platforms if you have a strong online presence, or referring them to other businesses in your network. Maybe you’re able to commit to long-term contracts or larger volumes in exchange for better pricing or more flexible terms.

2. Prioritise Payment Terms Over Price

Cash flow isn’t just about what you pay, but when you pay high fees, it affects your cash flow. Many small businesses chase discounts, but a 5% price cut doesn’t help much if you’re still paying upfront and waiting up to 60 days to get paid by your clients.

Instead, focus on extending your payment terms. For instance, think about negotiating to pay in 30 days instead of 7, or stretch your current 30-day terms to 45 days.

Every extra week gives you more breathing room to reinvest, sell stock, or recover from a slow month. Frame it as a win for the supplier too: if you can get more time to pay, you’ll be able to order more consistently.

3. Lock in Fixed Pricing During Volatile Periods

If your supplier has been constantly increasing prices, that unpredictability can ruin how you forecast or price your own products. Well, you don’t have to wait for the next increase; you can work on asking for price stability now.

Even if they won’t budge on the current rate, ask if they’re willing to freeze prices for the next 6 months, or even a year. That predictability can help you plan smarter, manage your cash flow, and avoid passing surprise hikes on to your customers.

4. Decide on Your Deal Breakers and Stick to Them

Before you start negotiating, take the time to figure out what matters most to your business. What can you bend on, and what’s non-negotiable?

This helps you avoid making rushed decisions that you might regret later. When you know your limits and know how to relay them through good business communication, it’s easier to stay focused and protect your business from agreements that just don’t work for you.

5. Turn Your Supplier into a Business Partner

If the opportunity arises, you can propose a mutually beneficial partnership where you work on a joint product or service. You could provide insight on the market, customer feedback, etc.

In return, you could receive exclusive pricing, priority slots for production, or faster deliveries, and other benefits that would be good for you and the supplier. This turns your supplier from a vendor into a strategic partner.

6. Leverage Slow Periods to Renegotiate

Suppliers often experience seasonal slowdowns or off-peak cycles where demand dips. These quieter periods are the perfect time to revisit your terms. When things are slow, suppliers are usually more open to negotiation just to keep their production lines moving or hit sales targets.

You can use this to your advantage by asking for better pricing, smaller minimum orders, or quicker turnaround times. Don’t think of it as needing them to renegotiate, but think of it as you helping them stay busy and keep business.

For example, if you know your supplier has a dip in orders every January, reach out in November and propose a bulk order at a lower price, or ask if they’d be willing to offer better payment terms for early commitments.

If you’re passionate about food and how to venture into that industry for your business, you must be well-informed on Regulation R638.

This regulation exists to ensure there are hygiene requirements for the handling of food in South Africa. Understanding and complying with R638 is essential not only for staying on the right side of the law but also for ensuring your customers’ safety and earning their trust.

In this article, we break down what R638 means, who it applies to, and how you can make sure your food business is fully compliant.

What is Regulation R638?

Regulation R638 falls under the Foodstuffs, Cosmetics and Disinfectants Act (Act 54 of 1972). It replaced the older R962 and came into effect in 2018. The regulation sets the minimum hygiene and operational standards for any business that handles food intended for sale to the public.

Who Needs to Comply with R638?

You might assume this regulation only applies to big food manufacturers or chain restaurants, but that’s not the case. Food safety and compliance is an important factor that must be considered for any business dealing with food.

R638 applies to:

• Restaurants and cafes
• Home-based food businesses
• Mobile kitchens, food trucks, and street food vendors
• Caterers and event food vendors
• Bakeries, delis, and confectioners

Even if you’re just running a side hustle from your home kitchen, you are required to comply with R638 if you’re selling food to the public. Put simply, if your business prepares, handles, stores, transports, or sells food, R638 likely applies to you.

Breaking Down R638: What Are the Key Requirements?

If you need guidance on food compliance in South Africa, here’s a simplified look at what R638 requires food businesses to do:

1. Register Your Food Premises

All food premises must be formally registered with the local authority, and this applies even to home-based food operations. You’ll need approval before trading.

2. Maintain Clean, Hygienic Conditions

Your premises must be clean and designed to prevent contamination. That includes proper ventilation, smooth floors and walls, cleanable surfaces, and adequate lighting.

3. Safe Water Supply

You must use clean water to clean your place of business, as well as prepare food. If you’re using borehole water, you may need regular testing.

4. Pest Control

Your premises must be free from pests. This means you must keep your place clean and have routine checks for pest control.

5. Protective Clothing

Food handlers must wear protective gear. This includes aprons, gloves, and hairnets to prevent contamination of food.

6. Training for Food Handlers

Training for food safety and hygiene must be given to anyone handling food.

7. Proper Waste Management

You must dispose of food waste and general refuse in a hygienic and environmentally friendly manner.

Step-by-Step: How to Ensure Your Business is R638 Compliant

Here’s how to start the compliance process:

Contact Your Local Municipality: Ask for the application forms for food premises registration and inspection.

Prepare Your Premises: Make sure your kitchen or operating space meets hygiene and layout standards.

Train Your Staff: Provide food safety and hygiene training to all food handlers. You and your team can take a course on R638 regulations.

Schedule an Inspection: The local environmental health practitioner (EHP) will inspect your premises. If approved, you’ll receive a certificate of acceptability.

Maintain Records: Keep documents of training, pest control, cleaning schedules, and water testing (if applicable).

Common Pitfalls to Avoid

Many new entrepreneurs fall short on compliance because of the following mistakes:

Skipping registration: Starting a food business without registering your premises can lead to penalties or being shut down.

Inadequate kitchen hygiene: Dirty surfaces, poor waste disposal, or no cleaning schedule are major red flags.

No protective clothing: Staff without aprons or hairnets? That’s a fast way to fail an inspection.

No pest control: One sighting of a cockroach could get you flagged or fined.

Support and Resources for Food Entrepreneurs

Don’t be intimidated by the process because there are resources to help:

Local Municipal Health Departments: These are your go-to for inspections, advice, and certification.

Training Providers: Many offer short food safety courses for staff at affordable rates.

Online Guides and Checklists: Several government and private platforms provide downloadable compliance checklists.

Protect Your Reputation With R638

Complying with Regulation R638 is beyond avoiding legal repercussions, it’s about building a reliable and professional business. In the age of social media and online reviews, a single hygiene complaint or viral video can damage your reputation.

By following R638, you’re showing customers you care about their health and safety, and that you’re serious about running a top-tier food business.

As an entrepreneur, you are juggling multiple roles, managing operations, marketing your business, and trying to grow your customer base. One area that often gets overlooked is cybersecurity. Many small business owners assume that hackers only go after big companies. Still, the reality is that cybercriminals increasingly target small businesses because they tend to have fewer security measures in place.

The good news? You don’t need a huge budget to protect your business. With some awareness and a few strategic moves, you can boost your cybersecurity without breaking the bank.

Why Cybersecurity Matters for Small Businesses

Cybersecurity is about protecting your digital assets, website, customer data, e-mails, and financial information. A single cyberattack can cost your business thousands of rands, damage your reputation, and lead to the loss of customer trust. In South Africa, small businesses are not exempt from these threats. Studies show that small businesses are more frequently targeted by cyberattacks, ransomware attacks, and data breaches.

The Protection of Personal Information Act (POPIA) also makes it mandatory for businesses to handle customer data responsibly. Failing to do so could result in fines or legal issues. With this in mind, putting even basic cybersecurity measures in place is not a good idea; it’s a business necessity.

Start with the Basics: Passwords and Access

One simple and effective way to protect your business is to implement strong password policies. Avoid using easy-to-guess passwords like ”123456” or “password1.” Instead, create complex passwords that include letters, numbers, and symbols, and change them regularly.

Use a password manager like Bitwarden or LastPass (both have free versions) to keep track of all your login details. Also, limit access to sensitive information. Not everyone in your business needs access to your financial records or customer database. Only give access to the people who need it to do their jobs.

Use Free and Low-Cost Security Tools

You don’t have to invest in expensive software to stay protected. There are several free or affordable tools designed specifically for small businesses. For antivirus protection, you can try tools like Avast Free Antivirus or Microsoft Defender, which comes built into Windows systems.

Firewalls are another essential layer of defence. If you use a router, make sure its firewall is activated. You can also use free firewall software like ZoneAlarm to add extra protection.

For secure browsing, consider installing a browser extension like HTTPS Everywhere, which ensures that you are connecting to a secure website, and uBlock Origin to block malicious ads and pop-ups.

Keep Your Software Updated

One of the most common ways hackers gain access to systems is through outdated software. Make sure your operating systems, apps, and plugins are always up to date. Many software programs offer automatic updates; enable this feature so you don’t have to worry about it.

This applies to everything from website platforms like WordPress to your accounting software. If you have a web developer, ask them to regularly check for updates and security patches.

Back Up Your Data

Backing up your data ensures that even if you are hit by a cyberattack, your business won’t come to a halt. Use cloud-based services like Google Drive or Dropbox; both of them offer free storage options to back up essential documents. For added safety, consider having an external hard drive that you update weekly.

Ensure your backups are encrypted and stored securely. Test your backups occasionally to make sure they are working as expected.

Secure your Website and Customer Information

If you run an e-commerce store or collect any customer data online, your website needs to be secure. Install an SSL certificate (many hosting services offer this for free) to encrypt the information shared between your site and users. A secure website not only protects you from data breaches but also builds trust with your customers.

Make sure your payment system is secure as well. Use trusted payment providers like PayFast or Yoco, which offer built-in security features.

Cybersecurity is an Ongoing Process

Cybersecurity requires continuous monitoring without forgetting about it. The process involves ongoing checks and system updates. Regular system reviews should occur every few months and include password updates while searching for possible threats or system vulnerabilities.

The increasing cybercrime activity in South Africa requires small businesses to create serious digital security measures. The protection of your business can be achieved without spending large amounts of money. Several strategic decisions, along with less expensive security tools, enable a significant reduction of risk, which safeguards both your information and your customer database.

Safeguarding your business should be a priority, you shouldn’t think that your business is small. Starting now will create a safer business environment for the future.

Legal consultancy, law firm or law practice, whatever you choose to call it, starting a law business can be the next step in your career. Instead of operating like a freelance consultant, you can start your own legal practice. This type of company differs from other businesses, as you need to be well educated and experienced in the law field before you can consider starting your practice.

Lawyers who want to start their own law business need to meet the minimum requirements as set out by the Law Society of South Africa (LSSA). These are set out by Section 26 of the Legal Practice Act 18 of 2014 and expect prospective practice founders to:

• Have an LLB Degree;
• Must have completed all the practical vocational training (PVT) required; a
• pass the competency-based examinations or assessments.

Once these requirements have been met, you will need to approach the High Court to be enrolled as a Legal practitioner in terms of Section 24 of the Act. The High Court processes the application, and successful candidates are admitted and may apply to the Legal Practice Council. This council determines whether you are eligible to run your own practice and mandates a yearly registration fee. The annual contribution is R 345 (including VAT).

The Business Side of a Law Business

When it comes to the business side of a legal practice, the Legal Practice Council is the regulating body that sets the norms and standards for lawyers who want to run their own practices. They ensure that lawyers are professional and held accountable. This institution was formed due to provisions made in Section 4 of the Legal Practice Act, No. 28 of 2014.

The law states that any law entity may be established in both natural and juristic entity capacities. Lawyers are allowed to practice in their personal capacity in the form of a sole proprietorship, and they are only allowed to use their own name or their business name. Partnerships, on the other hand, may only be entered into between attorneys. You can also choose to establish an incorporated company, but this must be registered with the Companies and Intellectual Property Commission (CIPC). Both partnerships and incorporated companies may choose a name that includes one or all of the names of partners or directors. You may also use a derivative thereof, such as an acronym.

Business Planning

As with any other business, you will need to create a business plan, ensure you are compliant and set up your office. Here’s an outline of steps to follow:

1. Create a Business Plan

In your business plan, you will need to create your vision and mission statement.

Next, write what your legal services are and what they encompass. This step will also require that you understand your target market through a market analysis. Include the pricing for your services.

After you have an idea of what you will charge for your services, you can develop a financial plan that showcases your projected expenses and earnings.

2. Compliance and Legal Requirements

Opening a business according to the requirements of what it can or cannot be named, register the name with CIPC and apply for a tax certificate and VAT registration from the South African Revenue Service (SARS).

Additionally, lawyers also need to obtain a valid Fidelity Fund Certificate (FFC). This certificate is issued by the LPC and will entail a once-off fee of R 1 000. Additionally, if you open your own practice, the law dictates that you complete a certified legal practice management course, as required by Rule 27.9.

Lastly, it is a legal requirement to register your practice with the Legal Practitioners Indemnity Insurance Fund [LPIIF] for professional indemnity insurance. This protects the practitioner from damages claimed from you by clients or third parties, should there be an act, omission, or breach of professional duty in the course of your business. It also protects you from legal costs associated with a claim.

3. Find a Professional Office

Any practising lawyer or attorney needs to meet with clients in a private, professional environment. You will, therefore, need to set up an office space with a desk, vital equipment and perhaps a quiet, comfortable corner to have meetings with clients. Take accessibility to your office into consideration when you either invest in a property or rent a space.

Along with the equipment, remember to factor in costs for Internet access and any software such as management tools, accounting software or even software that is solely used by lawyers.

You may start out with only yourself, but plan for other staff, such as cleaners, receptionists, paralegals, and junior attorneys.

4. Set up Bank Accounts and Trust

You can set up a business bank account with any bank that you feel gives you the best service. Research which banks will give your legal practice the best offering.

Remember to also set up a trust account to keep client funds that are not yet earned. Interest earned on the amount may be deposited into a different bank account, but the law requires that accurate records be kept relating to this account.

A firm needs to appoint a compliance officer in terms of the Financial Intelligence Centre Act No. 38 of 2001 (FICA). You also must register your firm as an accountable institution on the FICA online portal. Keep your proof of FICA registration because you will need to submit it annually.

Appearing in Court

If you are an attorney specialising in litigation, prospective advocates must apply to do so to the registrar of the Division of the High Court. According to Section 25 and Rules 19 and 20 of the LPA Rules, an individual who will appear in the High Court, the Supreme Court of Appeal or the Constitutional Court need to apply. They will then be issued a certificate that states that they are licensed to do so. This certificate must be submitted to the LPC.

Any lawyer who has practised for less than a year to apply.

Partner content: Africa’s Business Heroes

If you are an ambitious entrepreneur looking to scale your impact and gain unparalleled support, now is your chance! Africa’s Business Heroes (ABH) is back for its 7th edition, with applications open for the 2025 competition.

This prestigious initiative, powered by the Jack Ma Foundation, is more than just a competition – it’s a gateway to funding, mentorship and global exposure. Each year, 10 finalists share a $1.5 million grant, with the top winner taking home $300,000.

But ABH is more than just funding. Finalists receive:

• Exposure to top media platforms
• Networking opportunities with Africa’s leading entrepreneurs and investors
• Mentorship from experienced professionals
• Training to refine their business storytelling and growth strategies

Last year, the competition reached new heights of diversity and representation, with Henri Ousmane Gueye from Senegal making history as the first Francophone Grand Prize winner, and on his third attempt! If you’re an African entrepreneur with a business that has been operating for at least three years, this is your moment.

Applications close on 23 May. Apply now and take your business to the next level!

Learn more and apply today: https://africabusinessheroes.org/en/register

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Is your quest for a business loan feeling like an endless wild goose chase? Securing funding can be a challenging process, but before you give up, it’s essential to take a closer look at your application and business strategy.

While the loan process itself can be complex and demanding, there might be internal factors you’ve overlooked that are hindering your success. In this article, we’ll shed light on these potential roadblocks and provide insights to enhance your chances of securing the funding you need to propel your business forward.

1. Your Messaging Is All Over the Place

Lenders expect clear, confident communication. If your application is flooded with vague statements or industry buzzwords, the message gets lost. Lenders want you to speak their language. This language includes the 5 C’s of banking, which are:

• Capacity: Your ability to repay the loan. Lenders will assess your cash flow, income, and debt-to-income ratio to determine if you can handle the loan payments.
• Capital: The amount of money you’re investing in your business. Lenders want to see that you have “skin in the game” and are willing to take on some of the risk.
• Character: This refers to your credit history and reputation. Lenders will look at your credit report and any past bankruptcies or legal issues to assess your trustworthiness.
• Collateral: This is the asset you’re putting up to secure the loan. If you default on the loan, the lender can seize the collateral to recoup their losses.
• Conditions: The overall economic climate and the specific terms of the loan. Lenders will consider factors such as interest rates and the purpose of the loan when making their decision.

2. The Financials Don’t Add Up

Even a strong business idea won’t get far if the numbers are inconsistent. Lenders spot gaps and contradictions in your finances, unexplained losses, or outdated bookkeeping.

Ensure you have good cash-flow management and that your financial records are meticulous and up-to-date. Consider seeking guidance from a qualified accountant or financial advisor to present a clear and accurate financial picture to potential lenders.

3. There’s No Proof of Demand

A great product or service means nothing without demand. Many applicants focus on passion and vision but skip over customer validation, early traction, or understanding and targeting the right audience. Lenders need to see that the business isn’t just a good idea, but that it is something worth investing in, that will have a return on investment.

4. You’re Asking for the Wrong Type of Loan

A mismatch between your loan request and your actual business needs can severely hurt your chances of approval. For instance, applying for long-term financing when you actually need short-term working capital can make your strategy appear confused and raise concerns about your financial acumen.

This mismatch can signal to lenders that you haven’t thoroughly assessed your financial requirements or that you’re taking a risky approach. It is crucial to align your loan request with your specific business needs to demonstrate a clear understanding of your financial situation and enhance your credibility with potential lenders.

5. Your Business Isn’t Lender-Ready Yet

It’s possible that your business just isn’t ready. Maybe your systems aren’t as efficient as they need to be, your customer base isn’t stable, your model still needs fine-tuning, or you don’t have a bankable business plan.

But trying to rush into funding too early can backfire. A rejection can go on record and hurt your chances later. Focus instead on building out your business operations, tightening your processes, and hitting key milestones. When your business is solid, the funding conversation becomes easier as your chances of success.

6. Your (or Your Director’s) Credit Record Is a Mess

It might feel unfair, but lenders will check your personal credit history before they consider giving your business a loan, especially if you’re running a small business or applying as a director. So, even if you’ve built a healthy credit score for your business, if you have an adverse record, it’s bad for business. If your credit score is bruised from missed payments, defaults, or judgments, it sends the message that you’re a high-risk borrower.

The same goes for your business partners. One director with a questionable financial track record can tank the whole application. So, it’s important to look into the financial behaviour and history of people before you even partner with them. Lenders don’t just fund businesses, they fund the people behind them.

From producing instant noodles to exporting honey to the United States, these three entrepreneurs are building ventures in Zambia’s agribusiness and food sector.

1. The rise of an instant noodles business

Before starting her own business, Zambia-born Monica Musonda, a lawyer by training, worked in Nigeria for Aliko Dangote, Africa’s richest man. She has described the experience as equivalent to doing an MBA.

Musonda returned to Zambia and, in 2012, founded Java Foods, the company behind the Eezee Noodles brand. Initially, the company imported noodles from China and packaged them locally. Within three years, Eezee Noodles had become Zambia’s leading instant noodle brand.

But growth did not come without early challenges. Musonda admits she assumed most consumers would already be familiar with instant noodles and under-budgeted for marketing. The company had to adapt quickly, attending children’s events to demonstrate how to prepare the product and give consumers a chance to taste it.

The company also had to learn how to build a distribution network, working with wholesalers and navigating informal retail systems. Today, about 70% of Java Foods’ products are sold through informal retail outlets, with the remainder going to modern retailers.

A $5 million capital raise in 2018 allowed Java Foods to build a factory and start producing noodles locally using Zambian-grown wheat. The company now sells more than four million packs of instant noodles each month.

Watch your full interview with Monica Musonda: How this entrepreneur built an instant noodles business

2. Zambian company proves small farms can be big business

Carl Jensen and his co-founders at Good Nature Agro (GNA) have built a multi-million-dollar business around Zambia’s smallholder farmers.

GNA works with tens of thousands of small-scale farmers to grow legume seeds and commodities such as cowpea, soya bean, and groundnuts. It purchases these crops at harvest to sell at a profit.

However, GNA’s integrated business model extends far beyond simple trade. It provides farmers with loans to buy high-quality seeds and other agricultural inputs, offers continuous farming support through private extension agents, and delivers financial and digital literacy training. GNA is also involved in financing assets for farmers, ranging from agricultural equipment to mobile phones.

The smallholders are both the company’s suppliers and customers. “We knew that farmers needed quality inputs [and] they needed financing in order to be able to access those inputs. They needed technical support throughout the year in order to maximise what came out. And then they needed a guaranteed market – they needed sureties, like farmers anywhere in the world. And so we built a business model around fulfilling all of those needs,” explains Jensen.

Read our full interview with Carl Jensen: $10m company proves small farms can be big business

3. Zambian honey producer breaks into the US market

Zambia-based Luano Food Company focuses on value-added food products, with honey at its core. CEO Miit Pandoliker, who previously ran a logistics firm – and still remains involved – launched Luano to tap into the country’s natural resources.

The company does not operate its own farms or beehives. Instead, it sources raw honey from small-scale producers across Zambia and turns it into a growing range of finished products, including infused honeys, honey barbecue sauce, chilli sauce, and chocolate honey spread.

The company’s first major retail partner was Shoprite. It also exports to markets such as the United States, where, according to Pandoliker, honey is more highly valued.

Luano is now expanding into avocado processing. “The potential for avocado growing and processing in Zambia is very high,” says Pandoliker. “There are existing plantations and we plan to support these farmers by becoming their market. It fits well with our agroforestry model, as avocados are an excellent tree crop that is drought-resistant. Our plan is to promote avocado cultivation alongside beehives and intercrop with other crops that support biodiversity, such as shade-grown coffee.”

Read our full interview with Miit Pandoliker: Exporting Zambia’s honey to the US

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Whether you realise it or not, small businesses need publicity. Just like any other business, good public relations benefits the brand by generating awareness, enhancing credibility and creating a benchmark for their personal (and industry) standards.

Marketing is often used as a catch-all term that means “everything related to promotional efforts.” This can include certain publicity elements; however, where it is vital to make this distinction, marketing can be labelled as paid-for promotion, whereas publicity is a strategic effort. The end result of publicity efforts is mostly outside of a brand’s control, but marketing has more controlled results, such as generating a set number of leads, increasing traffic or completing more sales.

Types of Small Business Publicity

Publicity, as alluded to earlier, can take many forms. Here are four of the most popular strategies that public relations professionals might use:

Awards

Industry awards are a great way for any business of any size to gain recognition for its achievements. For a small to medium enterprise (SME), the impact is much greater. Participating in awards, especially being nominated or winning across one or multiple categories, highlights to both internal and external stakeholders the value a business brings to its industry. Depending on the type of award, the entire business, a single product or service, or an individual may be entered into the awards.

Interviews

Interviews by the media help put your business on the map. These are the opportunities where journalists or content writers reach out to you for an interview to profile you or your business. Some publications are also open to suggestions, so you may approach outlets that operate in your industry to see if they would be interested in writing about your company.

Press Releases

Press releases work like public announcements in that it is an opportunity to communicate a specific message or idea to the public. These documents are usually composed by internal marketers tasked with increasing brand awareness or a public relations company.

Events

By hosting or exhibiting at events, this strategy captures the attention of large numbers of foot traffic. As the host or sponsor, you can position your business as a key role player in the industry.

Benefits of Small Business Publicity

Awareness

Participating in business publicity means that more and more people learn about your company and start to build a relationship with it. By building awareness, you establish your business as a brand.

Enhanced Credibility

Through industry awards or hosting noteworthy events, it helps build a business’s reputation as an enterprise that can be trusted, delivers quality work, and serves clients well.

Employee Morale

When brands participate in industry events, award shows or public relations that boost publicity, employees’ morale is boosted as they see that they are part of a bigger cause.

Bench marking

Industry events and competitions help businesses benchmark what they can achieve. The industry as a whole pulls together to set standards of what businesses should aim for.

Awards to Participate In

Three of the highly anticipated awards to pay attention to are backed by major brands and businesses. Here are their details:

NSBC Small Business Awards

Any member of the NSBC can enter into one or multiple of the four categories. These are National Small Business Champion of the Year, National Entrepreneur Champion of the Year, Woman in Business Champion of the Year, and National Startup Champion of the Year. Entires open 1 July.

Bold Woman Award

The Bold Woman Awards are backed by Veuve Clicquot and aim to shine a light on women across the world that is making an impact through business. Entries are currently open and close on 20 April 2025.

Excellence in Procurement and Supply Awards

This award focuses on procurement and the supply chain. It has multiple categories that both inspire teams and individuals, including young talent. Entries close 31 May 2025.

Dambe is a traditional boxing style that originated in northern Nigeria. The sport draws inspiration from spear-and-shield warfare. Fighters strike with one hand wrapped in rope, while the other is kept for defence. Fierce kicks are also a key part of the combat style.

Entrepreneur Maxwell Kalu is working to take the sport global through the African Warriors Fighting Championship (AWFC), the organisation he founded in 2018. He describes the venture as “Africa’s UFC”, referencing the multi-billion-dollar American mixed martial arts promotion, the Ultimate Fighting Championship.

AWFC began by filming bouts and sharing them online. It then moved into staging its own events, produced to a more professional standard.

The company now has a core group of contracted fighters who appear regularly. One of its breakout stars fights under the name Coronavirus. “He’s a great talent – super engaging, showman, knocks people out – just has all of it,” Kalu says.

While AWFC’s primary audience remains in Nigeria, Kalu notes growing international interest, particularly from fans in the US and Brazil.

In a move to broaden its reach, AWFC this year signed a broadcast deal with UK-based on-demand sports and entertainment platform DAZN. Under the partnership, DAZN will serve as the global streaming partner for the Dambe World Series – a tournament of five events featuring Nigeria’s top athletes competing against international challengers.

Looking ahead, Kalu sees commercial potential in sponsorships, as brands look to advertise through AWFC’s growing media platforms

Read our full interview with Maxwell Kalu: The man behind Nigeria’s answer to the UFC – meet ‘Dana Black’

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Declining interest rates and higher pay packages for South African employees are resulting in more disposable income for consumers, which, in turn, is boosting the economy. But against this landscape, how are our highest earners coping with the choppy seas of leading a JSE-listed company, and what advice from PwC can help them draw the long straw?

It’s been hard to miss the current good trajectory in the news related to salaries in South Africa. The average take-home pay of an estimated four million employees, as tracked by BankservAfrica’s latest Take-home Pay Index (BTPI), made a happy 11,9% leap from R 15 367 in December 2023 to R 17 202 in December 2024.

This upwards graph has clearly had a number of positive drivers, such as the suspension of load shedding, the ongoing recovery of business, inflation seeing moderation, and two interest rate cuts, making 2024 the most robust salary year in the country since 2020.

As a result of this occurrence, South Africa’s retail marketing and sales job sector has also reflected decent growth, including in the purchasing rate of passenger vehicles. In effect, salary earners have stronger purchasing power now, because more take-home pay and lower consumer inflation (down from 5,3% in January 2024, to 3% in December 2024) means more disposable income, or “fun money”. This directly indicates good news to business owners.

The result is that 2025 looks set to experience a significant gross domestic product (GDP) increase, of approximately 1,7%, due to improved household expenditure, more investment from consumers, and any policies that are applied to further boost the economy – such as more reliable power-generation capacity, better supply-chain systems on the rails and at the ports, and upgraded water infrastructure (particularly in the Gauteng province).

Consumers are also enjoying the benefits of an additional interest-rate cut, of 25 basis points, as of the end of January 2025. While predictions are that the average salary increase could reach 5,7% by the end of 2025 (up from 4,5 in 2023, according to the latest quarterly bulletin of the South African Reserve Bank), it all depends on a particular employer’s “financial health”, “employee performance”, and “talent-retention goals”.

How the Other Side Lives

Peeping over the fence into the pay packages of JSE-listed company CEOs, reveals average earnings of approximately R 250 940 per day and total annual earnings of between R 22,5 and R 300 million across the nine sectors of technology, mining, banking, retail, insurance, hospitality, diversified (i.e. operates across multiple distinct business lines or industries), property, and education.

These pay packages exceed those listed in the PwC 2024 Directors’ Remuneration and Trends Report – i.e. a median total guaranteed pay packet for CEOs of the top 200 JSE-listed companies at R8 million per annum; and a median total remuneration package of R 19,71 million annually, when short- and long-term incentives are applied to the mix.

However, it is important to note that these extremely high salary earners face equally high-level challenges: “economic constraints”, “political instability”, “high levels of inequality” (within their workforces), “fluctuating exchange rates”, “skill shortages” (particularly in STEM-related jobs), and “unreliable infrastructure” (particularly freight and port-related, as mentioned above).

Although the financial rewards are vast, these corporate leaders must keep the work of their institutions competitive in comparison to their peers, while also operating in a regulated and compliant manner in the face of ongoing digital transformation.

The PwC report advises that “organisations will face more of the same scrutiny, as well as new demands” in the year ahead. This scrutiny extends to:

• an increased focus on fair pay and the reason for wage gaps within tight budgets; and
• enhanced pay disclosure by companies to satisfy both regulatory and shareholder requirements.

Remuneration policy will be subjected to an ordinary shareholder vote every three years, and each company’s interim report will need at least an annual ordinary shareholder vote. The reason for any wage gaps (i.e. gender-related, or between the highest- and lowest-paid employees) will also require disclosure.

Advice then, for CEOs running JSE-listed firms, is to meet up with your CFO and discuss:

• Whether there is a need to review your current remuneration framework and policy;
• whether the current structure is suitable as far as attracting and retaining key talent is concerned;
• The importance of engaging with shareholders early, to disclose the rationale for changes to the remuneration policy (if any);
• The value of gaining shareholder input on ways to adopt ESG measures in incentive plans, without succumbing to diminished returns;
• The need to potentially include an emergency discretion clause in your remuneration policy, to allow for genuinely unforeseen and/or exceptional circumstances; and
• The need to focus on areas that investors and shareholders identify as important, as far as these relate to performance, together with fair and responsible pay.

The reality is that negative stakeholder perceptions of excessive executive pay packages, and/or non-traditional incentive plans, will persist, especially in the case of a lack of adequate underlying company performance.