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October/November 2024 Volume 29 No 5R78.00 (incl VAT)Other African Countries R67.83 (excl tax) MBO AS AN EXIT STRATEGYMBO AS AN EXIT STRATEGY UNION ELIGIBILITY UNDER LEGAL SCRUTINYUNION ELIGIBILITY UNDER LEGAL SCRUTINY ESOPS - BRIDGING HUMAN CAPITAL AND EQUITYESOPS - BRIDGING HUMAN CAPITAL AND EQUITY IP AND OPEN SOURCE - A BALANCE BETWEEN SHARING AND PROTECTINGIP AND OPEN SOURCE - A BALANCE BETWEEN SHARING AND PROTECTING INDUSTRIAL ECOLOGY - BIOMIMICRY BLUEPRINTS FOR SUSTAINABLE SYSTEMSINDUSTRIAL ECOLOGY - BIOMIMICRY BLUEPRINTS FOR SUSTAINABLE SYSTEMS MBO AS AN EXIT STRATEGYMBO AS AN EXIT STRATEGY UNION ELIGIBILITY UNDER LEGAL SCRUTINYUNION ELIGIBILITY UNDER LEGAL SCRUTINY ESOPS - BRIDGING HUMAN CAPITAL AND EQUITYESOPS - BRIDGING HUMAN CAPITAL AND EQUITY IP AND OPEN SOURCE - A BALANCE BETWEEN SHARING AND PROTECTINGIP AND OPEN SOURCE - A BALANCE BETWEEN SHARING AND PROTECTING INDUSTRIAL ECOLOGY - BIOMIMICRY BLUEPRINTS FOR SUSTAINABLE SYSTEMSINDUSTRIAL ECOLOGY - BIOMIMICRY BLUEPRINTS FOR SUSTAINABLE SYSTEMS TRAVEL & LEISURETRAVEL & LEISURE THE PLETTENBERGTHE PLETTENBERG THE CELLARS-HOHENORT HOTEL & SPATHE CELLARS-HOHENORT HOTEL & SPA TRAVEL & LEISURETRAVEL & LEISURE THE PLETTENBERGTHE PLETTENBERG THE CELLARS-HOHENORT HOTEL & SPATHE CELLARS-HOHENORT HOTEL & SPA COULD THEIR SYNERGY SPARK CONSCIOUSNESS? COULD THEIR SYNERGY SPARK CONSCIOUSNESS?2 October/November 2024October/November 2024 Copyright © 2024 SYSPRO. All rights reserved. All brand and product names are trademarks or registered trademarks of their respective holders. 735850 OSFF SYSPRO EMEA@SYSPRO_Africa Turn Data into Decisions. In a world where devices speak, are you listening? With SYSPRO IoT connecting seamlessly to APIs, the exchanges of machine data become valuable, actionable insights. From predictive maintenance to inventory optimisation, harness real-time data—whether in manufacturing or distribution—to make informed decisions that drive your business forward. Ready to unlock the power of connected intelligence? Find out how to connect IoT with SYSPRO’s Intelligent Core and discover how data becomes your competitive edge. Scan the QR code or call 011 461 1000 and join the conversation today. KNOWING WHAT MATTERS...KNOWING WHAT MATTERS...October/November 2024October/November 2024 3 Copyright © 2024 SYSPRO. All rights reserved. All brand and product names are trademarks or registered trademarks of their respective holders. 735850 OSFF SYSPRO EMEA@SYSPRO_Africa Turn Data into Decisions. In a world where devices speak, are you listening? With SYSPRO IoT connecting seamlessly to APIs, the exchanges of machine data become valuable, actionable insights. From predictive maintenance to inventory optimisation, harness real-time data—whether in manufacturing or distribution—to make informed decisions that drive your business forward. Ready to unlock the power of connected intelligence? Find out how to connect IoT with SYSPRO’s Intelligent Core and discover how data becomes your competitive edge. Scan the QR code or call 011 461 1000 and join the conversation today. BRIEFCASE σ THE LATEST GADGETS, GIZMOS & MUST-HAVES 6 TRAVEL & LEISURE σ SUPERB LOCAL EXPERIENCES & GETAWAYS 8 CONTRIBUTORS σ CONSULT OUR CONTRIBUTORS DIRECTLY FOR PROFESSIONAL ADVICE 100 CONTENTSCONTENTS KNOWING WHAT MATTERS...KNOWING WHAT MATTERS... VIEWPOINT σ SOUTH AFRICA’S CLIMATE CHANGE ACT - IMMEDIATE IMPLEMENTATION IS IMPERATIVE! σ PUBLIC SECTOR PROFESSIONALISATION - A PRIORITY FOR BUILDING STATE CAPACITY 12 MANAGEMENT σ BEING PREPARED - DIRECTOR INDUCTION AND GOVERNANCE σ PROFIT OR PRINCIPLE? TACKLING THE MORAL RESTRUCTURING PARADOX 22 EDUCATION & TRAINING σ FUTURE-PROOFING VIA UPSKILLING AND RESKILLING σ ISO STANDARDS FOR CORPORATE TRAINING 32 LEGAL σ IP AND OPEN SOURCE - A BALANCE BETWEEN SHARING AND PROTECTING σ GLOBAL INSOLVENCY PROCEEDINGS - THE CASE OF MIRROR TRADING INTERNATIONAL 36 TAX σ PUBLIC OFFICER APPOINTMENTS - PROPOSED AMENDMENTS σ CAPITAL GAINS TAXING CLARITY ON MULTI-TIER TRUST DISTRIBUTIONS 44 FINANCE & EQUITY σ MBO AS AN EXIT STRATEGY σ NEW IFRS 18 - PRESENTATION AND DISCLOSURE IN FINANCIAL STATEMENTS 48 ASSETS & INVESTMENTS σ MANAGING THE COMPLEXITIES OF OFFSHORE INVESTMENTS σ THE GOLDEN RATIO - THE RIGHT BALANCE BETWEEN SPENDING AND SAVING 60 BANKING & INSURANCE σ REGULATORY INSTRUMENTS FOR FINANCIAL SECTOR COMPLIANCE σ CLIMATE CHANGE AND WEATHERED INFRASTRUCTURE RISKS 64 MARKETING & SELLING σ TRANSFORMING RETAIL STRATEGY THROUGH STORE INNOVATION σ RETAIL FINANCING - NEEDED FOR AN OPPORTUNITY OR FOR SURVIVAL 72 HUMAN CAPITAL σ UNION ELIGIBILITY UNDER LEGAL SCRUTINY σ ESOPS - BRIDGING HUMAN CAPITAL AND EQUITY 80 TECHNOLOGY σ QUANTUM + AI - COULD THEIR SYNERGY SPARK MACHINE THINKING INTO CONSCIOUSNESS? σ STRATEGIC CYBERSECURITY BUDGETING 86 PROCESS & OPERATIONS σ THE SYNAPSES OF THE DISTRIBUTED CONTROL SYSTEM σ INDUSTRIAL ECOLOGY - BIOMIMICRY BLUEPRINTS FOR SUSTAINABLE SYSTEMS 9494 COVER STORY COVER STORY COVER STORY COVER STORY4 October/November 2024October/November 2024 PUBLISHING POLICYPUBLISHING POLICY EDITORIAL Articles are published at the editor’s discretion, and are not linked to the payment of any consideration or to any obligation to place advertising. ADVERTORIAL Published for a consideration, this material is provided by the client and does not necessarily reflect the views of the publication. It includes profiles, features, white papers, case studies, and thought leadership pieces. SPONSORED EDITORIAL Written by an independent journalist, this material is published for a consideration, and includes profiles, features, white papers, case studies, and thought leadership pieces. Editorial contributions are welcome, but the publisher cannot accept responsibility for unsolicited material. The editor reserves the right to alter or cut copy. COPYRIGHT BusinessBrief Publishing (Pty) Ltd. All rights reserved. Requests to lift material should be made to the editor. While every effort has been made by the publisher to ensure the accuracy of the information contained herein, the publisher and its agents cannot be held responsible for any errors, or loss incurred as a result. The publisher advises that readers consult their financial and professional consultants before acting on any information. All material used has been submitted with the understanding that it is original, and the publisher accepts no responsibility for any misrepresentation in this regard. No consideration is accepted for any editorial published. Published articles are not linked to the placement of any advertising. A COMMITMENT TO PROFESSIONAL PUBLISHING The publishers of this magazine are members of the Magazine Publishers’ Association of South Africa. They have made a commitment to: • • Conduct business professionally and ethically at all times. • • Not misrepresent their experience or capabilities, or those of their employees and agents. • • Not make misleading claims or use terms which may be misunderstood. • • Treat as confidential all off-record information learned about the customer. • • Publish the magazine timeously. • • Open their distribution records for audit by the Audit Bureau of Circulation. PUBLISHER BusinessBrief Publishing +27 (0)11 788 0880 EDITOR & PUBLISHER James Scott james@bbrief.co.za TECHNOLOGY & GADGETS Steven Ambrose steven@strategyworx.co.za CONTRIBUTORS Please see the list of this edition’s contributors on page 100 ADMINISTRATION/ SUBSCRIPTIONS Abednico Banda admin@bbrief.co.za ADVERTISING Trevor Ormerod +27 (0)83 299 7070 trevor@biz-connect.co.za Laetitia Eksteen +27 (0)82 738 3765 laetitia@biz-connect.co.za Abednico Banda +27 (0)11 788 0880 nico@bbrief.co.za James Scott +27 (0)11 788 0880 james@bbrief.co.za DESIGN & LAYOUT PxL Designs THE TEAMTHE TEAM PUBLISHER’S NOTE CPD/ECPD/E The following organisations, subject to individual requirements, have accredited BusinessBrief for purposes of CPD/E (Continuing Professional Development/Education) AT(SA) Accounting Technicians SA Association of Chartered Certified Accountants Federation of African Professional Staffing Organisations Chartered Governance Institute of Southern Africa Chartered Institute of Management Accountants Compliance Institute Southern Africa Contact Centre Management Group Financial Planning Institute of Southern Africa Institute of Certified Bookkeepers and Accountants Institute of Credit Management of Southern Africa Institute of Directors Southern Africa Institute of Management Consultants & Master Coaches of Southern Africa Institute of People Management Public Relations Institute of Southern Africa South African Auditor & Training Certification Authority South African Board for People Practices Southern African Institute for Business Accountants South African Institute of Professional Accountants South African Institute of Tax Practitioners South African Payroll Association Southern African Society for Quality follow us onfollow us on @bbrief1@bbrief1 Your CPD points don’t have to be••••• • a drag • expensive • inconvenient • or time-consuming www.bbrief.co.za offers verifiable CPD points••••• • anytime • anywhere • online••••• only R48 per point YOUR PLATFORM FOR THOUGHT LEADERSHIPYOUR PLATFORM FOR THOUGHT LEADERSHIP WHAT MATTERS, MATTERS...WHAT MATTERS, MATTERS...October/November 2024October/November 2024 5 Your CPD points don’t have to be••••• • a drag • expensive • inconvenient • or time-consuming www.bbrief.co.za offers verifiable CPD points••••• • anytime • anywhere • online••••• only R48 per point YOUR PLATFORM FOR THOUGHT LEADERSHIPYOUR PLATFORM FOR THOUGHT LEADERSHIP WHAT MATTERS, MATTERS...WHAT MATTERS, MATTERS...6 October/November 2024October/November 2024 BRIEFCASE HUAWEI WATCH GT 5 Series The GT 5 series comes in 46mm and 41mm sizes. The GT 5 Pro offers a premium experience with 46mm and 42mm options, featuring materials like titanium, sapphire glass, and ceramic. Both versions have IP69K-rated durability. The HUAWEI WATCH GT 5 Series includes the advanced HUAWEI TruSense System and an Emotional Wellbeing Assistant, alongside standard health and activity tracking features. Battery life extends up to 14 days for the 46mm model and 7 days for the 41mm model. Available from R4,999.00 at Huawei dealers countrywide. For more information https://consumer.huawei.com/za/wearables/watch-gt5/ ASUS AI-powered Zenbook S 14 The Zenbook S 14 integrates AI at its core, featuring a sleek, just 1.1 cm thin design. Its all-metal chassis, with a unique Ceraluminum™ ceramic lid and natural hues, contains advanced AI functionalities powered by up to the newest Intel® Core™ Ultra 9 processor (Series 2) and ambient cooling for reduced noise. The 3K ASUS Lumina OLED2 display and the robust sound quality from a four-speaker audio system round out the specifications. The ASUS Zenbook S 14 offers elegance, performance and innovation in a slim, sophisticated form. Available from R35,999.00 at Asus dealers countrywide. For more information www.asus.com/za October/November 2024October/November 2024 7 BRIEFCASE Apple iPhone 16 The newest generation of iPhones promises Apple Intelligence, featuring a new camera control button, extended battery life and the latest A18 processor. With a 48MP Fusion camera paired with iOS 18, it provides unmatched quality and versatility. It is also available in new colours such as Pink, Teal and Ultramarine. Prices start at R20,999.00 at all Apple dealers and networks nationwide. For more information www.apple.com/za Apple AirPods 4 The re-engineered and refreshed iconic AirPods are available in two versions, with or without noise cancelling. With the charging case, they offer up to 24 hours of battery life. Integrated with iOS 18, these AirPods provide the most advanced sound experience. A new low distortion driver and personal spatial audio with dynamic head tracking, powered by the H2 chip, deliver unparalleled sound quality in a compact in-ear device. The charging case is smaller and supports both USB-C cable and wireless charging. Available from Apple dealers from R2,899.00 or R3,999.00 with noise cancelling. For more information www.apple.com/za8 October/November 2024October/November 2024 The Plettenberg is set on a rocky headland in Plettenberg Bay on South Africa’s Garden Route. It is an exclusive five-star hotel that offers a luxurious seaside escape. As a distinguished member of Small Luxury Hotels of the World, it has 35 beautifully designed rooms and two family villas, all with panoramic views of the ocean, surrounding mountains and stretches of golden sand. Guests can relax in the Summer Lounge or the Terrace or head to the Sandbar for cocktails or nightcaps. Amelia’s, the hotel’s restaurant, is known for its sophisticated, ocean-inspired cuisine that serves the freshest seafood. With a temperate climate and a diverse landscape of pristine beaches and dense forests, Plettenberg Bay is a year- round playground for nature lovers and adventure seekers. Visitors can journey along the local wine route, enjoy bungee jumping, horseback riding and canopy tours, or unwind on the beach and marvel at the endless horizon of rolling waves. The hotel’s amenities ensure a memorable and relaxing stay. Two ocean-facing pools offer a serene space The PlettenbergThe Plettenberg …where the horizon meets the sea…where the horizon meets the sea TRAVEL & LEISUREOctober/November 2024October/November 2024 9 to unwind, with comfortable loungers and poolside service, allowing guests to watch surfers and dolphins in the waves below. The Fresh Wellness Spa is a space to relax and rejuvenate with various treatments. The gym is equipped with the latest cardio and weightlifting equipment for those looking to maintain their fitness routine. Business travellers will find The Plettenberg equally accommodating, with three flexible meeting venues which are ideal for corporate events. The Business Venue caters to small groups of up to 10 people, while the Blue Lounge and Blue Wing can host gatherings of up to 30. Whether in a Double Room, Luxury Room, Suite or Villa, The Plettenberg provides a perfect blend of relaxation and sophistication, making it an ultimate seaside retreat along the Garden Route.◼ ◼ For more information or to book | www.theplettenberghotel.com | reservations@collectionmcgrath.com | +27 (0)44 533 2030 | TRAVEL & LEISURENext >