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New Era Newspaper Monday January 29, 2018

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10 Inside BUSINESS

10 Inside BUSINESS Monday, January 29 2018 | NEW ERA urture SMEs to create more employment Staff Reporter Windhoek Entrepreneurship is key to job creation. Not all SMEs create jobs, however, especially during the early stages of the venture. By nurturing and encouraging entrepreneurship, we can create an environment to grow informal survivalist businesses into more structured business ventures inCepTus HoldinG (pTy) lTd Inceptus Holding (Pty) Ltd is a company duly registered in accordance with the laws of the Republic of Namibia and is wholly owned by the University of Namibia (UNAM). The company is a trading body for the commercialisation of UNAM business ventures. Job TiTle: General ManaGer 1. Job Role: To provide strategic leadership during the start-up process and growing phase of Inceptus Holding (Pty) Ltd to ensure that it gains a competitive edge in the market and yields maximum shareholder value in its business endeavour to attain the shareholders objectives. 2. Duty Station: Windhoek 3.RemuneRation: Patterson Grade D5 4. Job RequiRementS minimum academic, Professional qualifications & experience: • Honours Degree in commerce, accounting or economics (or similar) - minimum requirement • MBA or equivalent - added advantage. • 5 - 7 years’ senior management experience working in a business management role. • Experience at the General Management level in a commercial environment will be an added advantage • Proven track record in business development and or starting up a business. • Drivers Licence legal Requirements: • Drivers Licence that could have a longer lifespan and create much needed employment. Entrepreneurship seen from this point of view, contributes to economic growth, toward empowering women, the youth and disabled members of the community. “I have no doubt that entrepreneurship is key to job creation. I do however believe that there is more that needs to be done to foster an entrepreneurship culture in Namibia. This will enable more SMEs to graduate and become larger business ventures,” said Mbo Luvindao, Manager at Bank Windhoek’s Emerging Small and Medium Enterprise Branch. The most daunting questions that face entrepreneurs who would want to start a business, are: How do I formalise my business idea? Why is a business plan necessary? What steps are involved in developing a business plan? Where to find help in getting the business started? Entrepreneurs are often defined as innovators. They are creative and often start a business because of a need or gap they have identified in their communities. “A business idea should come about as a solution to a challenge in a given community or society at large. If the solution is applied efficiently, adopted by the community with ease and subscribed to repetitively, the business will grow. The willingness of the entrepreneur to keep his finger on the pulse and continuously respond to the changing demands of his market will determine the success of the business in the long term” said Luvindao. However, back to basics Once you have identified a need for a particular service or product, you will most probably come up with a business idea to meet that need. You will then need to formalise your business idea and create a business plan. Steps involved in developing a business plan A business plan is a document that clearly sets out the goals and objectives of your new business and explains how they will be achieved. The plan should also include any anticipated challenges and plans on how these challenges will be overcome. In simple terms, a business plan is a road map that indicates a business’ goals and how the entrepreneur plans on achieving these goals. Business plans differ, but in general they should include the description of the business, its products and services, target market, details on the management of the business and staff, details on competitors and a marketing Mbo Luvindao strategy. “The most important thing is that once the plan is completed, the entrepreneur must fully understand it and be able to defend what it states about the business,” said Luvindao. Getting your business started Lack of start-up capital remains one of the major obstacles for entrepreneurs. Bank Windhoek understands this and the ESME Branch was established to mitigate this challenge. Bank Windhoek’s ESME Branch caters for Namibian entrepreneurs with the potential to contribute positively to the country’s economy. With its new improved service offering, entrepreneurs can now gain access to finance and conduct their business banking activities at one convenient location. “To further strengthen its relationship with customers, the Bank offers support such as mentoring and training programmes. These targeted programmes are designed to guide entrepreneurs to successfully manage their business’ finances and assist business owners in any other areas where they require guidance,” concluded Luvindao. Key Performance area: • Develop and oversee implementation of Inceptus Strategic Plan • Establish strategic partnerships and ensure stakeholder management • Oversee business planning, development & diversification • Drive and Improve overall Business Performance • Oversees the design, implementation and evaluation of the overall financing strategy for Inceptus • Oversee the management of the identification of new markets that have positive risk / success ratios for Inceptus • Oversee the implementation of an appropriate Risk Management plan. • Oversees the proactive management of Inceptus’ financial performance and sustainability. • Oversee the attainment of Inceptus Human Resources Excellence. • Oversee the Management / Provision Of Inceptus Customer & Stakeholder Excellence • Oversee the Management Of Inceptus Corporate Governance • Oversee The Management Of Internal Business Process Excellence Competencies (Skills & abilities) • Corporate Governance • Business Development • Business Acumen • Financial Acumen • Enterprise Risk Management • Shareholder Management • Transformational Leadership • Networking • Emotional Intelligence • Strategic Orientation • Teamwork & Cooperation Skills. • Conceptual Thinking. • Innovative Thinking. • Analytical Thinking. • Excellent Communication skills (at all levels). • Negotiation skills • Decisiveness • Impact & Influence ClosinG daTe: 02 February 2018. appliCaTion proCedures: Prospective candidates should forward their CV and certified copies of Identity documents, all qualifications Only short listed candidates will be contacted and no personal documents will be returned. The advert has minimum requirements listed. The right to add further information as criteria for shortlisting and requirements is reserved and subject to change. Reference checks will be done on all shortlisted candidates. All foreign qualifications must be evaluated by Namibia Qualifications Authority. Standard Bank backs NamAuto show Staff Reporter Windhoek NamAuto, with the backing of Standard Bank as its corporate sponsor, this week launched the NamAuto show aimed at providing exposure for the automotive industry and all it has to offer locals. Fashioned after some of the world’s leading car shows, NamAuto is the first of its kind in Namibia and will air on NBC TV as from February 15, featuring various dealers with their latest offerings, expert advice on cars and more. The show was launched earlier this month at the Windhoek Go-Karting and Entertainment centre. “At Standard Bank we have committed ourselves to forging strong partnerships within the automotive industry, especially in this challenging economic environment where we have seen new vehicle sales decline. We are therefore proud to be a part of the NamAuto show as it will contribute positively to the industry by providing dealers and other stakeholders a platform to showcase their products and bring them closer to the people,” Standard Bank’s Vehicle and Asset Finance New Business Manager, Magreth Mengo, said. Mengo said she was optimistic that the programme would not only aid in driving sales, but also educate local consumers on the products that are available on the market and where to find them. The show will also feature a go-karting component, which sees dealerships and companies that will be featured in the NamAuto Show, race each other every episode. “The NamAuto show will be the first of its kind in Namibia. We believe that this is a good initiative as it will provide various dealers and stakeholders the platform to show off the top class products that they have and it is also exposure for the vast range of cars on the market,” NamAuto’s General Manager, Niel van Vuuren, said during the launch. Van Vuuren said he was very pleased with the response they received from the dealers who were eager to participate in the car show; and to cater for the overwhelming support the number of episodes were increased to 15.

Monday, January 29 2018 | NEW ERA Inside BUSINESS 11 Eskom says it’s on road to recovery despite Moody’s downgrade JOHANNESBURG South Africa’s power utility Eskom on Friday night said it noted global rating agency Moody’s Investors Service (Moody’s) decision to downgrade it to B1 from Ba3, the long-term corporate family rating (CFR), but said it remained confident that they are on the path to recovery. “We note the decision by Moody’s to downgrade the company’s rating; however we remain resolute in our endeavours to progressively turn this company around,” Eskom said. “The liquidity concerns raised by Moody’s are starting to dissipate as we are already seeing investors and lenders revive their engagements and commitment to Eskom. We see this action by Moody’s as a low point in the credit profile of Eskom and we are confident that we are on a path to recovery; supported by the new board, the governance and leadership at Eskom is being stabilised to bolster the turnaround of the company.” On Friday night, Moody’s announced its decision to downgrade to ‘B1 from Ba3’ the long-term corporate family rating (CFR) of Eskom; the zero coupon eurobonds rating has similarly been revised to ‘B1’ from ‘Ba3’ in line with the CFR and the global medium term note (GMTN) programme and the senior unsecured GMTNs of Eskom have been downgraded to ‘(P)B2/B2 from (P)B1/B1’. Praise for ‘new era unleashed’ in SA, says Ramaphosa South Africa’s Deputy President Cyril Ramaphosa on Thursday said the country delegation to the World Economic Forum (WEF) has been praised “for this new era that has been unleashed in South Africa”. Speaking on the final day of his stay in the Swiss town of Davos, Ramaphosa described the country mission to WEF as a “very, very successful pilgrimage”, and said recent changes and reforms had been well received, and that the business community was buoyed by “this new mood in the country”. Ramaphosa told a press conference he would be travelling home to South Africa “a very, very satisfied deputy president of the republic” after a series of engagements with the investor community and global leaders at WEF. “All the meetings that we have had, we have had nothing negative that has been said about our country and all what we’ve heard has been encouragement, you are on the right course, keep going and we applaud you for this new era that has been unleashed in South Africa,” Ramaphosa said. “As the South African delegation, what we like to call Team SA to Davos, I think our journey has paid enormous dividends. I think we are going back home filled with a great deal of confidence, of the confidence that the international investing community has in us.” - Nampa/ANA Moody’s said all the ratings remained under review for further downgrades. While the rating agency views the recent interventions, including the appointment of the board by Deputy President Ramaphosa as favourable actions in bolstering the credit quality of Eskom, Moody’s cited Eskom’s deteriorating liquidity and the ability of the government to provide direct equity support to Eskom. Eskom’s acting chief financial officer Calib Cassim said the power utility remained “cautiously enthusiastic”. “We remain cautiously enthusiastic that we are geared towards improving the company’s liquidity position and financial profile. We are acutely aware of the challenges that Eskom is confronted with; however, we are confident that we are on the verge of restoring a positive market sentiment that will assist with the execution of our funding plan” Cassim said. “Concurrently, Moody’s has downgraded to (P)B2/B2 from (P) B1/B1 the global medium term note (GMTN) programme and the senior unsecured GMTNs of Eskom,” Moody’s said in a statement. Moody’s said it downgraded the probability of default rating (PDR) to B1-PD from Ba3-PD. “Today’s rating action reflects the deterioration in Eskom’s financial and liquidity position with no prospect of a near term equity injection by the government to shore up its weak financial profile,” Moody’s said. “At the same time, the pressure on credit quality is mitigated by the strong likelihood that the steps announced on 20 January 2018 by Deputy President Ramaphosa, including replacing the Eskom board, together with the support of the National Treasury, will allow the company to secure sufficient funding to address a looming liquidity crisis.” Eskom will need to “re-establish and maintain good access to the domestic and international debt markets” if it is going to meet liquidity needs and continue to refinance existing debt as it falls due and fund investments. The ratings remain under review for downgrade, pending evidence of the company’s ability to meet its financing needs and stabilise its financial position; and reflecting the potential deterioration of the South African government’s credit profile, “in particular in the country’s institutional, economic and fiscal strength, as captured by Moody’s November 2017 decision to place South Africa’s Baa3 government bond ratings on review for downgrade”. “Eskom has faced mounting liquidity risks in recent weeks, primarily driven by lenders’ unwillingness to provide additional funding to the company in the context of serious questions around corporate governance, a lack of leadership and failing trust in the company,” Moody’s said. MARKET OVERVIEW Moody’s added that the rating action also factored in the December decision by the National Energy Regulator of South Africa (NERSA) to allow Eskom to increase revenue by 5.23 percent in FY2018/19, well short of the 19.9 percent proposed by the company, saying the decision would put further pressure on the company’s “already weak cash flow”. “Moody’s views positively the government’s statement that the ministers of Public Enterprises, Energy and Finance will work together under the leadership of the deputy president to deal with structural issues including the funding model and other industry challenges. Nonetheless, the company’s challenges are complex and are likely to take time to resolve.” On Saturday, the presidency announced that Phakamani Hadebe has been appointed Eskom acting chief executive officer (CEO) with immediate effect, while Jabu Mabuza will take over as chairman of the board, and all Eskom executives facing allegations of serious corruption and other acts of impropriety, including Matshela Koko and chief financial officer Anoj Singh, would immediately be removed. A number of measures were being taken to “strengthen governance” at Eskom, including the appointment of new board members and stabilising management at the energy parastatal, it said. This followed a meeting of President Jacob Zuma, Deputy President Cyril Ramaphosa, Public Enterprises Minister Lynne Brown, and Finance Minister Malusi Gigaba on Friday to address urgent problems at the company. This intervention would be ratified by Cabinet at its next meeting. Eskom had been facing several problems, including a weak financial position, declining revenues, and governance failures, which threatened the sustainability of the company in future. Therefore, the government had decided on immediate measures to strengthen governance and management. This was the first step towards restoring confidence in the company, improving its financial position, and restoring its operational performance. The new board members are Jabu Mabuza (chairman); Sifiso Dabengwa; Sindi Mabaso-Koyana; Mark Lamberti; Tshepo Mongalo; Malegapuru Makgoba; Busisiwe Mavuso; Nelisiwe Magubane; Rod Crompton; George Sebulela; Pulane Molokwane; Banothile Makhubela; and Jacky Molisane. The ministers of public enterprises, energy, and finance would work together under Ramaphosa’s leadership to deal with other structural issues, which include the funding model and other industry problems identified by the inter-ministerial committee on state-owned enterprises (SoEs) reform. - Nampa/ANA Money Market Change Latest Selected NSX Stock 3 months 0.00% 7.13% Symbol Stock Name Spot % Move 6 months -0.02% 7.57% CGP CAPRICORN INVESTMENT GROUP L 1809 0.00% 9 months 0.00% 7.66% NBS NAMIBIA BREWERIES LTD 4000 0.00% 12 months 0.00% 7.89% BVN BIDVEST NAMIBIA LTD 785 0.00% Bonds Change Latest FNB FNB NAMIBIA HOLDINGS LTD 4658 0.00% GC18 (R204 : 6.99%) 0.02% 7.90% ORY ORYX PROPERTIES LTD 2060 0.00% GC21 (R208 : 7.33%) 0.01% 8.15% NAM NAMIBIAN ASSET MANAGEMENT LT 68 0.00% GC24 (R186 : 8.43%) 0.02% 9.65% NHL NICTUS NAMIBIA 189 0.00% GC27 (R186 : 8.43%) 0.02% 10.04% BMN BANNERMAN RESOURCES LTD 46 0.00% GC30 (R2030 : 8.93%) 0.02% 10.60% DYL DEEP YELLOW LTD 268 -0.74% GC32 (R213 : 9.01%) 0.02% 10.72% SILP STIMULUS INVESTMENT LTD-PREF 12129 0.00% GC35 (R209 : 9.33%) 0.01% 10.76% FSY FORSYS METALS CORP 120 -4.00% GC37 (R2033 : 9.14%) 0.02% 11.14% TUC TRUSTCO GROUP HOLDINGS LTD 875 0.00% Commodities %Change Latest B2G B2GOLD CORP 3730 -2.99% Gold 0.22% $ 1,351.25 Platinum 0.43% $ 1018.05 Copper 0.00% $ 7,138.00 Brent Crude 0.62% $ 70.29 Main Indices %Change Latest NSX (Delayed) -0.07% 1407.26 JSE All Share -0.28% 61,514.25 SP500 0.06% 2,839.25 FTSE 100 0.41% 7,646.69 Hangseng 1.53% 33,154.12 DAX -0.04% 13,293.19 JSE Sectors %Change Latest Financials -0.61% 18,292.36 Resources -1.03% 38,162.36 Industrials 0.19% 81,967.07 Forex %Change Latest N$/US dollar 0.12% 11.8828 N$/Pound 0.62% 16.9308 N$/Euro 0.43% 14.7814 US dollar/ Euro 0.35% 1.2439 Namibia Monthly Data Latest Previous Namibia Inflation (Dec 17) 5.2 5.2 Bank Prime 10.50 10.50 BoN Repo Rate 6.75 6.75 26-Jan-18

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New Era Newspaper Vol 22 No 167