South African innovators and entrepreneurs could win R1 million in prize money thanks to Hangman – Cell C’s online reality show which aims to uncover South Africa’s greatest innovator.
Hangman is a show unlike anything on any screen anywhere! A global first in interactive, immersive entertainment, it puts viewers in the driver’s seat. By “investing” in a virtual Stock Exchange, they can help determine the outcome of the show, while standing in line to win great prizes including a car.
This new 10-part reality show also gives wings to the aspirations of entrepreneurs who have identified a gap in the market and have come up with an innovation that fills that space and want to bring it to the market.
Hangman consists of two different content streams. The first is the actual reality online series – hosted by Maps Maponyane – which would traditionally be consumed on prime-time TV but will be streamed live online from October.
Innovators who are selected to be on the show will be put through a series of gruelling challenges, but their fate will be determined by more than performance alone. They will have to win the approval of ‘Backers’, captains of industry and investment with keen business acumen and ruthless standards. These include businesswoman Phuti Mahanyele, celebrity economist Iraj Abedian, self-made billionaire Quinton van der Burgh and Bonang Mohale, chairman of Shell South Africa Energy Limited.
The innovator who succeeds in garnering the support of the Backers, while rallying viewer/‘investor’ sentiment, could walk away with a R1 million cash prize and everything needed to succeed in a 21st century market.
Entries are now open to anyone residing or working in South Africa who wants to participate in the competition or just view the series. Simply download the Cell C Reality App on Android or iOS to access the shows and to register for the competition. Access within the App will be zero rated for Cell C customers. Any breakout from the App will be charged as per current data depletion.
The Cell C Reality App is designed with a built-in point’s programme where points are awarded when customers download and interact within the App.
Points are awarded for every week customers are active in the App, every time a video is viewed, when they create a profile, and more.
The closing date for entries is July 21 with the show streaming online from October 9 to December 11. Contestants and viewers do not need to be a Cell C customer to play or download the App but Cell C customers will receive bonuses for participation and viewing the show.
Meet the HANGMAN backers
— Cell C South Africa (@CellC) June 28, 2017
Growing up in a township on the East Rand during the apartheid years, Bonang Mohale is defined by a need to take responsibility – and when his father died in his teens he stepped into the breach to help his mother raise his younger siblings.
Despite the challenges of his home life Mohale looked to the black business leaders of the day for inspiration. To emulate their success he forged ahead with his studies during a period of volatile, political turmoil.
Determination, hard work, boundless energy and a larger than life personality has seen him make it to the top in the business world. Today he is widely viewed as one of the most respected leaders in corporate South Africa having been at the helm of a string of multinational giants including Shell South Africa and Upstream.
— Cell C South Africa (@CellC) June 29, 2017
Born in a rural village in Iran with no running water and no electricity to a family of subsistence farmers, Iraj Abedian learnt from a young age that only way to escape that life was to apply himself to his books. He scored top marks at school and won scholarships which eventually led him to South Africa after the fall of the Shah of Iran.
Abedian spent months on horseback travelling through remote Transkei villages to collect data for his master programme on the economics of rural farmers in the 1980s. He quickly ascended the academic ranks, culminating in an appointment as Professor of Economics at UCT. Sought after by the Mandela cabinet he was called on to serve in an advisory capacity on the RDP White paper, GEAR and as a member of the President’s Advisory Commission.
His corporate life saw him serve as the chief economist for Standard Bank and he later founded the Pan African Capital Holdings. Today Abedian is a celebrity economist sought after for his integrity, his frankness and his unwavering honesty.
— Cell C South Africa (@CellC) June 26, 2017
Phuti Mahanyele learnt from an early age to dream and look for opportunities where others see obstacles. As a little girl she dreamt of being a ballerina and although that dream never materialised her success in the boardroom as a leading businesswoman has made an inspiration to hundreds of young African woman who aspire to be like her.
Today Phuti is the executive chairperson of Sigma Capital and former CEO of the Shanduka Group and was included in the Wall Street Journal’s list of Top 50 Women in the World to watch in 2008. In 2012 she was recognised by Africa Investors as a Leading African Woman in Business and in 2014 she was chosen as Forbes Woman Africa Business Woman of the Year.
Quinton van der Burgh
— Cell C South Africa (@CellC) June 27, 2017
Quinton van der Burgh always knew he wanted to be a businessman and he started pursuing that dream while at school where he quickly proved his mettle as a salesman.
The self-confessed ADHD sufferer quit in grade 11 to give flight to those dreams. He hit the ground running selling cell phones out of the boot of his car. His business grew quickly but just as he started tasting success one of his clients disappeared with R12 million worth of goods overnight bringing his world crashing down around him. But Quinton doesn’t give up; he took it on the chin and moved on to bigger and better business deals.
Today the billionaire is the founder and CEO of Burgh Group Holdings – his business interests extends to coal mining, marketing, media and mining equipment.
What Franchises Need To Lookout For From Budget Speech
Franchise business owners are waiting with bated breath for the outcome of the 2019 National Budget Speech to be delivered by Minister of Finance, Tito Mboweni, as they seek more opportunities to increase their contribution to GDP.
Morne Cronje, FNB Head of Franchising, says the Budget Speech is an important economic indicator that franchises can use to gain insight on the government’s plans on spending and economic growth for the year ahead.
He highlights potential National Budget Speech outcomes that could boost confidence of franchises:
Any form of relief that is likely to bring positive change, rebuild confidence and address some of the key challenges impacting consumers will be welcome by franchises.
Cronje says consumer spending contributes a significant portion to the profit margins of franchises especially in the food sector.
Rating agencies are keeping a close watch on South Africa’s performance and prospects for growth, which will impact our Sovereign ratings for the rest of the year.
Measures that the government puts in place to promote economic growth this year will be of interest to franchises.
Franchise owners will be looking to benefit from regulatory changes that aim to improve growth, operating environment and enhance participation in all facets of the formal economy.
Based on the Mid-Term Budget Review in October 2018, there’s likely to be no major shake up from a business tax perspective. The anticipated relief in tax will go a long way to boost the profit margins of franchisees.
Spending on infrastructure creates vast opportunities for franchise business owners, as well as job creation in the country. The government has signalled an intention to partner with the private sector to develop an infrastructure fund to increase investment in public infrastructure.
“Franchises that operate in South Africa should prioritise the National Budget Speech as key decisions announced by the minister have a direct impact on their growth,” concludes Cronje.
5 Businesses You Should Start in 2019
Here’s the lowdown on consumer and technology opportunities in 2019 and beyond.
Savvy entrepreneurs should keep a close watch on consumer and technology trends in 2019. This, according to Silvertree Internet Holdings Co-founder and MD, Manuel Koser. Having invested in and grown a number of highly successful South African brands (among them Faithful-to-Nature.co.za, UCOOK.co.za, Pricecheck.co.za, CompareGuru.co.za, Petheaven.co.za, Cybercellar.com, and CarZar.co.za). Silvertree’s management team sees several business opportunities set to grow exponentially over the coming decade.
Here’s the lowdown on consumer and technology opportunities in 2019 and beyond.
1. Indigenous and ethical: Personal and home care products
2019 Sees growing potential for personal care products – ‘Those with local and indigenous ingredients, ethical sourcing which is kind to nature and the body,’ Koser explains. ‘There is a lot of room to play in the African haircare market particularly, as it’s often overlooked by the major FMCG companies.’
The Silvertree MD also sees increasing room for innovative natural home cleaners as consumers become increasingly environmentally conscious. ‘Until now, it was all about the well-known cleaning products the major chemical manufacturers put on the shelves. Now, there’s increasing space for new, exciting entrants.’
2. New beverages
‘Locally-sourced ingredients and an earth-first mindset will also play an increasing role in the consumer beverage market. Add to this the fact that major soft drink manufacturers will struggle to produce drinks for increasingly health-conscious consumers. They’re often just not quick enough to adjust to changing consumer tastes – particularly the tastes of millennials. Think less about a standard fizzy drink, but rather one that’s kind to the body, with natural ingredients. Non-alcoholic: water plus, say, cucumber, or another indigenous ingredient. The market for this will grow.’
3. Ethical snacking
Plant-based, vegan, ancient grains, ethical, protein-rich snacks – these are just some of the trends Koser sees dominating in the snack segment in 2019 and beyond. It’s about unique, tasty, functional foods that cater to the modern, time-starved consumer, Koser explains.
4. Buy, sell and compare online
In the technology space, marketplaces, e-commerce sites and classifieds will all gain momentum in 2019 and beyond. This encompasses aggregators as well as more unusual online businesses, which are increasingly able to find and reach consumers interested in niche products and services.
‘Consider an online ice-cream business. Once, something like that would have been unthinkable,’ Koser explains. ‘But as consumers demand greater choice, room for niche products like this grows.’
Yet, dabble online and seamless execution and delivery become make-or-break factors. ‘Many South African consumers use services such as Google, Amazon, Uber and Spotify daily – world-class products that function on a global scale. You can call an Uber and wait for just two minutes before getting a ride,’ Koser explains. ‘It’s quick and totally seamless. Consumers have come to expect that level of service across the board. Aligned to this is the fact that the millennial wave is currently hitting Cape Town right now, and Joburg secondarily, meaning a number of opportunities are opening up. Go after products and services in the right space and consumers will follow.’
5. Reinvent the wheel – and make it better
The final type of business entrepreneurs should keep an eye on is those that currently have low Net Promoter Scores. ‘This means that very few people like them, or the services they provide are of very poor quality,’ Koser explains. ‘Think of postal service providers or telecoms companies. With any monopolistic or oligopolistic structures, the service is often terrible because the heavyweights hold so much power. There’s a huge gap here.’
An allied approach for entrepreneurs is to assess opportunities for automation, or cutting out the middleman with technology. ‘Once, many markets – such as real estate were opaque, meaning you needed a middleman to help you transact. However, as the capabilities of technology have grown, markets have become far more transparent – making it easier for buyers to match with sellers safely. Today, a lot of this is easy to automate services – think about connecting a homeowner to a prospective renter through a digital solution where renters can be qualified, for example, in terms of their finances, personal information and criminal records. Quick and simple. And no middleman.’
The biggest opportunities here centre around where consumers spend the greatest amounts of time and money, Koser notes. ‘Housing and rent are always major costs. In terms of where consumers spend their time, on the other hand, much of it is, on a mobile phone, or PC.’
However, entrepreneurial success is never down to any one magic formula, Koser emphasises. Nor does Silvertree invest in prospective entrepreneurs solely on the basis of the product or service they offer. ‘It’s about passion, perseverance and tenacity as much as it is about the quality of the product.’
Silvertree Internet Holdings is an investment growth partner who aims to understand, grow and scale business, consumer and digital brands to unlock the brands’ exponential growth.
What To Watch For In Tito Mboweni’s First Budget Speech
By Rob Cooper, tax expert at Sage, and chairman of the Payroll Authors Group of South Africa.
Finance Minister, Tito Mboweni, delivers his first Budget Speech on 20 February at a difficult time for the South African economy. Even though President Cyril Ramaphosa has done much to restore business confidence in his first year in office, GDP growth remains weak, government finances are in relatively poor shape, and renewed load shedding is hurting business confidence.
Judging from his Medium-Term Budget Policy Statement in October last year, I expect Minister Mboweni — backed by the team in the National Treasury—to deliver a relatively cautious budget. Much of the focus will be on refinancing the state-owned enterprises and putting them back on to a sustainable footing.
We probably won’t see much in the way of radical thinking since the room for manoeuvre is so limited. Click each header below for an indepth video on the upcoming topics.
Renewal of the country’s public healthcare system with a mandatory health insurance fund and free healthcare at the point of need has been the ANC government’s policy for years, but progress has been slow to date. There isn’t much money in the country’s coffers to fund something as ambitious as NHI, yet the government will want to show that it is advancing the concept ahead of the elections.
With an NHI bill to be tabled in Parliament soon, we could learn more about how NHI will be funded in this year’s Budget Speech — it’s still not clear whether we will pay for it through payroll taxes, VAT increases or other fundraising measures. As an initial step, we could see medical aid tax credits reduced (or at least not adjusted for inflation) to free up some funding for the NHI.
The ETI Act came into effect on 1 January 2014; as a fan of this incentive, I was delighted that President Ramaphosa announced that it will be extended for 10 years another decade in his state of the nation address. However, I have also long argued that the scheme is not performing to its true potential because it is so complex for payroll managers to administer.
The introduction of the national minimum wage adds even more complexity— until and unless the ETI Act is amended, SARS is of the opinion that the National Minimum Wage will not qualify as a “wage regulating measure”. I hope the Budget Speech will announce steps to align the ETI with the national minimum wage and take other measures to simplify administration.
I don’t expect any major increases to corporate or personal income tax this year since the taxpayer doesn’t have much more to give. I think the top 45% rate will remain unchanged, while tax bracket creep relief (to compensate for inflation) will be limited to lower income earners. It seems unlikely that the Minister will increase VAT again this year, given last year’s increase.
That means the Minister is likely to look at ‘moral’ taxes (sin and sugar taxes) to raise more money; we can expect another steep increase in the fuel levy. Perhaps we’ll also hear about efforts to improve SARS’ revenue collection after several years of under-performance. The agency seems ripe for a turnaround strategy, with high-powered team looking for a permanent chief to take the reins at SARS.
Follow us on @SageGroupZA on 20 February 2019 for LIVE expert insights from the annual Budget Speech.
For more information about Sage’s annual tax seminars, please visit: https://get.sage.com/PRL_19Q1_C4L_ZA_EVCU_NPS_AnnualPayrollTaxSeminar2019
Self Development2 weeks ago
10 Secrets To Finding A Job You Love
Performance & Growth1 week ago
How Matt Brown Quadrupled His Business By Becoming A Niche Player
Entrepreneur Today6 days ago
5 Businesses You Should Start in 2019
Entrepreneur Today1 week ago
Entrepreneurs Organisation Crowns the Winner of the Global Student Entrepreneur Awards
Start-up Advice7 days ago
How To Apply Lean Principles To Your Start-up’s Productivity And Time Management
Business Landscape2 weeks ago
4 Tips To Create A Great Conference / Workshop / Event In 2019
Self Development2 weeks ago
These 6 Types of Music Are Known To Dramatically Improve Productivity
Innovation3 days ago
The Art Of Pivoting: How To Know If The Time Is Right