Financial Services Board

The Directorate of Market Abuse is a committee of the Financial Services Board with the statutory mandate to investigate cases of Market abuse and to enforce the prohibitions against market abuse in the Securities Services Act, 36 of 2004 (SSA).

Market abuse consists of insider trading (prohibited in section 73 of the SSA), market manipulation (prohibited in section 75 of the SSA), and false reporting (prohibited in section 76 of the SSA).

If the DMA is of the opinion that the SSA has been contravened, it will take enforcement action against the offender. Such cases could be referred to the Enforcement Committee of the FSB, or handed over to the prosecuting Authorities.

The prohibitions against market abuse, the penalties and the DMA’s powers to investigate are set out in Chapter VIII (sections 72 to 87) of the SSA.

The DMA makes a media release after every meeting to update the public on its current investigations. every enforcement action is published once it is completed.

The Johannesburg Stock Exchange, in consultation with the DMA, published a booklet on insider Trading and Other Market Abuse, including the effective management of price sensitive information An electronic version of the booklet is available on this page.

Financial Services Board Internet Site

DWAF

The Department of Water Affairs is the custodian of South Africa’s water resources. It is primarily responsible for the formulation and implementation of policy governing this sector. It also has override responsibility for water services provided by local government.

While striving to ensure that all South Africans gain access to clean water and safe sanitation, the water sector also promotes effective and efficient water resources management to ensure sustainable economic and social development.

Vision

Our vision is to be:

a dynamic, people centred department, leading the effective management of nation’s water resources, to meet the needs of current and future generations.

Mission

As sector leader, our mission is to serve the people of South Africa by:

making a positive impact on our country and its people as custodians of our water resources, and as innovative and committed partners in the drive for sustainable development;

being service and delivery oriented. We strive to get it right the first time, every time, on time – ensuring that our citizens are provided water and sanitation services they deserve;

leading our sector and enable partners with knowledge and capacity to ensure that all water services are delivered;

being committed to innovation and use cutting edge technology as a catalyst of positive change, connecting our people and enabling them to work anywhere anytime;

having a heart that values our investment in our people. We provide them with a caring and trusting environment that encourages personal development and is a breeding ground for talent.

Our Values – TREE

Transparency – we fulfil our mandate in an ethical and open manner

Respect – we respect each other, as well as our clients, and the needs of our citizens

Excellence – we are leaders and innovators in our sector who get it right on time every time

Everyone – we are a caring employer who through teamwork serves South Africa’s people

via DWA: About Us

Eskom

Eskom is a South African electricity public utility, established in 1923 as the Electricity Supply Commission (ESCOM) by the government of South Africa in terms of the Electricity Act (1922). It was also known by its Afrikaans name Elektrisiteitsvoorsieningskommissie (EVKOM). The two acronyms were combined in 1986 and the company is now known as Eskom. Eskom represents South Africa in the Southern African Power Pool.

The utility is the largest producer of electricity in Africa, is among the top seven utilities in the world in terms of generation capacity and among the top nine in terms of sales.

Eskom operates a number of notable power stations, including Kendal Power Station, and Koeberg nuclear power station in the Cape Province, the only nuclear power plant in Africa. The company is divided into Generation, Transmission and Distribution divisions and together Eskom generates approximately 95% of electricity used in South Africa.

Due to the South African government’s attempted privatisation of Eskom in the late 1990s, Eskom’s requests for budget to build new stations were denied. President Thabo Mbeki admitted in December 2007 that this was an error, and it is now adversely affecting the South African economy.[4]

In January 2008 Eskom introduced “load shedding”, planned rolling blackouts based on a rotating schedule, in periods where short supply threatens the integrity of the grid. Demand-side management has focussed on encouraging consumers to conserve power during peak periods in order to reduce the incidence of load shedding.

via Eskom – Wikipedia, the free encyclopedia.

Endeavor South Africa

Endeavor is a global non-profit organisation that identifies and supports innovative, high-growth entrepreneurs in emerging markets such as Argentina, Brazil, Chile, Colombia, Egypt, India, Mexico, South Africa, and Turkey. High-impact entrepreneurs are those transforming their industries, their communities and even their countries through business. Endeavor Entrepreneurs create jobs and wealth, and become the leaders and role models of tomorrow. They create thriving companies, employing thousands and generating millions in wages and revenues. Their stories inspire many others.

Endeavor South Africa > Home

Walmart deal will cause job loss

Government opposed the merger between Walmart and Massmart because it would lead to job losses and a flood of cheap imports which would destroy small businesses and undermine industrial development, director general of the economic development department Richard Levin told MPs this afternoon.

Three government departments lodged an appeal against the merger with the Competition Appeal Court on Wednesday and Mr Levin outlined the reasons for the surprise move during a briefing to Parliaments economic development portfolio committee. The committee is holding public hearings into the merger.

Mr Levin told the committee that the departments of economic development, trade and industry and agriculture believed the merger would undermine governments objectives to increase employment, considering that SA – with an official unemployment rate of 25% – was ranked among the ten countries in the world with the lowest level of employment. Job creation was a key government priority and a key objective of its industrial policy action plan.

via BusinessDay – Walmart deal will cause job loss – government

Small businesses beat tough times

He is also looking into collaborating with the hotel industry and wants to supply his wares to Lifestyle in Randpark Ridge.It doesn’t end there either; he is also planning to set up a stall on Vilakazi Street. “Soweto is a centre of attraction,” he says. These avenues are the way forward for the expansion of his business

via Small businesses beat tough times | News Update

New fund to aid small business

Johannesburg – The National Empowerment Fund (NEF) launched an enterprise development fund in aid of small and medium companies on Wednesday.

The development would help speed up black economic empowerment in the private sector, NEF board of trustees chairperson Ronnie Ntuli.

NEF CEO Philisiwe Buthelezi said this entailed private sector businesses making contributions to the NEF’s enterprise development fund. The NEF would use this money to co-finance the NEF’s investments in enterprise development beneficiaries. It would help make these businesses sustainable and financially independent.

For a company to obtain the maximum of 15 points on enterprise development it should contribute 3% of its net profit after tax.

“The minimum contribution a measured entity may make into the NEF enterprise development fund is R5m.”

Looking exclusively at the 3% net profit after tax of the top 40 JSE-listed companies collectively, the potential resources available for enterprise development exceed R5.3bn.

Buthelezi said for every transaction that qualified for enterprise development funding, the NEF would co-invest on a 60:40 ratio, with the fund carrying up to a maximum of 40% of the risk.

The NEF said for five years from the time of contribution, the companies would enjoy their newly improved BEE scorecard ratings. The benefits would fall away on year six, after which the company had to contribute again to maintain the enterprise development points on the scorecard.

via New fund to aid small business: Fin24: Economy

BEE and job creation cannot coexist

I’ve just read a piece about the new EDF (Enterprise Development Fund) that will be rolled out under the NEF’s control.

The thing is, yet again, the BEE drum is the one that’s beating the loudest. Essentially, black-owned and managed businesses will be the only ones eligible for this funding.

The way I see it, you can have one or the other. Either you’re committed to job creation, OR you are committed to BEE.

In case you’re wondering why, let me explain.

If job creation is a priority, then any business with a viable plan, that has the potential to create jobs, for anyone in the country, should be a priority. It doesn’t matter, as far as I know, what race the person who is doing the hiring is – it’s the job, and the salary, that matters.

On the other hand, if it’s BEE that is a priority, then government is essentially saying that they don’t care if anyone else can create jobs, because it’s not the jobs themselves that are important, but getting the right colour bums in the managing seats.

Given our huge unemployment problem, it seems like folly to be restricting any enterprise, with the potential of creating jobs, from accessing the assistance they need to do so. I might be wrong, but if a white person can create 10 or 20 jobs, for example, with their business idea, are the jobs not more important than the colour of the entrepreneur?

Our government needs to give us all a straight answer on the BEE / job creation dilemma. Are they more interesting in maintaining the tenderpreneur mentality, or are they interested in real economic reform.

If it’s the former, then it’s business as usual I suppose. However, if it’s the latter, then the policies surrounding small business development definitely need an urgent rethink.

We are an emerging economy. We are a nation crippled by unemployment.

Maybe it’s time that those became the driving factors in policy with regards to business development, rather than the current one, which seems to be: if you’re not black, we don’t want your jobs.

via BEE & job creation cannot coexist: News24: MyNews24: Your Story