Today’s Top Entrepreneurship and Business Stories (23 June)
South32 Awards R158mln Coal Contract To 100% Black-owned Company
Diversified metals and mining company, South32 on Thursday awarded a three-year core mining contract worth R158 million to a Broad Based Black Economic Empowerment company, Modi Mining, at its Wolvekrans Middleburg coal mine in Mpumalanga.
Modi Mining will work closely with the Wolvekrans mining and planning teams to plan and deliver various sub-processes, including top soiling and stripping overburden.
Modi Mining renders differentiated contract mining services, including supplying specialised services for both underground and surface operations.
It provides contract mining; sweepings and vamping; underground construction; rail installations; services pipes installations; power cable suspension; box front installations among others.
Modi Mining was founded 10 years ago and is co-owned by a mining engineer and entrepreneur, Samuel Molefi, and a female entrepreneur Kebareng Moagi.
South32 president and chief operating officer for Africa Region, Mike Fraser, said transformation was central to their efforts to make a meaningful contribution to the social and economic development of South Africa.
Fraser said the award was particularly significant as it was the first core mining contract awarded to a 100 percent black-owned company.
“It marks a significant step forward in our plans to deliver a more inclusive supplier landscape,” Fraser said.
“We welcome Modi Mining as a strategic mining partner of South32. We are impressed with their focus on safety, their commitment to continuous improvement, and their support for the local communities in which they operate.”
“We look forward to working together to successfully deliver our projects at Wolvekrans.”
Modi Mining has also committed to creating downstream opportunities for local labour and sub-contracting, aiming to source 80 to 90 percent of their labour from the nearby local communities. (via African news Agency)
Fast Food Scores High In the South African Customer Satisfaction Index
The Consulta 2016 National South African Customer Satisfaction Index (SAcsi) reflects that South Africans are fond of fast food but unhappy with municipalities and wireless providers.
Using a sample of 36,519 South African customers, the SAcsi measured fast food, life insurance, cellular handsets, full-service restaurants, banking, supermarkets, short-term insurance, wireless internet providers and municipalities throughout the year.
According to the Index, the fast food industry achieved an overall satisfaction score of 82.2, which was marginally up from 82 in 2015 and 80.5 in the previous year.
Customers scored the life insurance industry an overall 79 in 2016, up significantly from 77.3 in 2015, and cellular handsets went from 77.2 to 78.2 in the same period.
Full-service restaurants performed solidly with a SAcsi score of 77.6, banking was stable with a score of 76.5, while supermarkets have seen a steady decline from 81.4 in 2014 to 76.6 (2015) to 76.2 in 2016, and short-term insurance dipped to 75.8 from 77.9 in 2015.
Within the context of the South African market, a score under 70 generally indicates poor customer satisfaction. The wireless internet providers industry, scoring 67.8 points (a decline from 68.2 in 2015) is one of these. Municipalities suffered a low score of 59.5, down from 61.8 in 2015 due to the overall deterioration of satisfaction with service delivery in the eight major municipal districts measured (Cape Town, eThekwini, Tshwane, Johannesburg, Ekurhuleni, Nelson Mandela Bay, Mangaung and Buffalo City). (via Bizcommunity)
More Cape Town Schools To Get Entrepreneur Societies
The SA Teen Entrepreneur Foundation will be expanding its rollout of Entrepreneur Societies to more high schools across Cape Town this year.
The Foundation educates high school learners about the benefits of entrepreneurship.
“Young people need to become self-sustainable in order to support themselves and their families and even their broader communities through employment creation over time,” explains Lydia Zingoni, SA Teen Entrepreneur founder/director.
“2016 saw us testing the programme, as a pilot project in eight high schools across Cape Town. Sponsorship of organisations such as Shoprite, the Sage Foundation, the City of Cape Town, the Rotary Club of Cape Town and the Philippi Economic Development Initiative, made it possible for 34 schools to benefit from our programme this year.
“At the heart of entrepreneurship is the identification of problems or challenges in our communities or environments and finding creative solutions to turn these challenges into opportunities which can be profitable, which is the kind of culture we want to instil into our young South Africans.”
A national roll-out is expected in 2018/2019. (via Bizcommunity)