Star 2024-08-15

The government has postponed the signing of the Second Presidential Health Compact by a week as it irons out issues with the private sector players following serious push-back by big business against the National Health Insurance (NHI) scheme. The National Health Insurance Bill was signed into law on May 15, marking a milestone on the journey by the country to realise Universal Health Coverage without anyone incurring financial hardships, as enshrined in the Constitution. Business Unity South Africa (Busa) yesterday said it would not be signing the President’s Health Compact as it cannot support a policy that explicitly endorses the NHI Act in its current form. The signing ceremony of the Health Compact was scheduled for today at the Union Buildings but the Presidency yesterday said it has been postponed…

An Information Regulator investigation into a complaint against the Ombudsman for Short-term Insurance’s failure to release information to a complainant has raised questions about the independence of the scheme that is supposed to be an impartial arbiter for consumers. Forensic expert Stan Bezuidenhout, who assists clients facing insurance repudiations, said he had sought data from the ombud scheme, but his request was met with “hostility and accusations”. He wanted additional data because “as more of my clients have engaged with the Ombudsman, a worrying sentiment has emerged. Increasingly, they express dissatisfaction with the Ombudsman’s efforts, feeling the office may be more aligned with the interests of insurers than with those of consumers.” Clients had described interactions where they felt the Ombudsman “acted as a guardian for the insurance industry”. Areas…

Hume International, one of the largest importers of frozen food-based commodities in South Africa, has said the glaring mismanagement and inconsistent trade policies were creating a disaster for South African businesses and consumers, following the blanket ban on poultry from the entire Brazilian state of Rio Grande do Sul due to a single case of Newcastle disease. Newcastle disease is a viral illness that affects domestic and wild birds. Roy Thomas, Hume logistics and operations director, said authorities confirmed a case of Newcastle disease in a commercial flock in Rio Grande do Sul last week – the first recorded outbreak in the country since 2006. “Despite the solitary nature of the incident, the Department of Agriculture, Land Reform and Rural Development (DALRRD) has suddenly imposed immediate trade restrictions on all…

The government and business have agreed, at their first meeting since the elections, to accelerate the implementation of their joint initiative to tackle challenges such as electricity outages, poor logistics, and high crime over the next 12 to 18 months. Addressing the media yesterday following a meeting between President Cyril Ramaphosa, ministers, and business leaders, Trade, Industry, and Competition Minister Parks Tau said the government had set itself the target of economic growth of between 3% and 5% by 2030 on the back of an ample power supply. Gross domestic product (GDP) is expected to reach 1.6% from the end of this year through to 2026, according to the National Treasury’s February estimates. Although there is still much work to be done in terms of stabilising the energy supply, James…

Before initiating a project, it’s critical to ensure that construction adheres to the South African National Standards (SANS) 10400. The regulations ensure the safety, health, and sustainability of buildings. Compliance begins with a clear understanding of regulatory obligations, ensuring that the construction entity and individuals involved are competent and qualified. SANS 10400 mandates that buildings must be structurally sound and capable of withstanding various forces, including wind. The regulations also emphasise space requirements, accessibility and ceiling heights to ensure the building’s intended purpose is achieved efficiently and comfortably. Public safety, particularly fire safety measures, is key here, along with proper demolition procedures to prevent accidents and minimise environmental impact. Safe construction site practices, including security, waste disposal and erosion control, are also considered essential. By diligently applying these regulations to…

INVESTING in shares can be daunting, especially for those who are new to it. With an array of companies, industries and market conditions to consider, how does one make sense of it all? The answer lies in mastering the art of equities analysis, and a crucial aspect of this skill is understanding key ratios and metrics. Financial ratios are like the vital signs of a business. They tell how healthy or unhealthy a company is. Imagine you are considering investing in two companies, A and B. Both seem promising, but digging deeper reveals a stark contrast. Company A boasts impressive revenue growth year over year; Company B struggles to maintain profitability despite high sales. What’s the difference? It boils down to analysing the right ratios. Although the ratios alone are…