News and Updates

In the Budget Speech, Minister of Finance Tito Mboweni reiterated government’s vision of start-ups igniting the local economy. While this is a step in the right direction, can more be done to support SMMEs to boost growth and create jobs? “SMMEs run by entrepreneurs are a beacon of light to our economy. They provide job opportunities and contribute significantly to the economy, which is why, as a collective in both the public and private sector, we must support them through targeted interventions,” says Sylvester Albanie, Group Executive: Risk at Novus…

Finding or creating businesses opportunities is a skill that every entrepreneur should have to ensure the sustainable success of a company. This is the view of Sanele Sibandze, managing director and co-founder of Songo Africa – a promotional clothing and gifting company – who has built his business by seizing every opportunity. Sibandze says: “It’s not the mountain we conquer but ourselves”, a quote by Sir Edmond Hilary who was the first modern man to climb Mount Everest, is something we repeat to ourselves daily. We say this as we…

According to reports, one of the most important causes of South Africa’s present economic woes is a shortage of technical and managerial skills. Where can South Africa get the skills it needs to put the country on the path to economic prosperity? Ralph Ruthford, Group Executive: Human Resources, Novus Holdings, investigates how the private sector can help create a formidable skills pipeline. Government has rightly emphasised that to fill the current skills gap in the country it needs to import skills, as outlined in National Treasury’s recently released economic growth…

Figures recently released by Statistics SA show that, against a struggling and stagnant economy, the number of businesses that have shut their doors and filed for bankruptcy have increased. Furthermore, South Africa’s unemployment rate increased to 29,1% in Q3 of 2019 – the highest since 2008. More than ever South African entrepreneurs need to be armed with the right knowledge and skills to not only start a business, but to keep it on the road of success. This is the view of Desireé Johnson, Executive and Managing Director of Mikateko…

Novus Holdings has been awarded a Level Two Broad-Based Black Economic Empowerment (B-BBEE) rating by aBEErate as of 12 December 2019, the company announced today. The Level Two rating was given in line with the revised B-BBEEE Codes of Good Practice (which came into effect on 01 December 2019) and is based on the company’s most recent Annual Financial Statements and ownership data. The new Codes have adjusted criteria for the categories Enterprise and Supplier Development (ESD) and skills development, amongst others, which resulted in Novus Holdings moving to a…

South Africa’s state power company Eskom created a consumer and business uproar this week when it implemented load shedding across the country, adding that the probability for further rolling blackouts remained high for the rest of the week. Novus Holdings, a leading commercial printing and manufacturing company with plants across the country, has acted to ensure that business interruption is minimal due to the continued power outages. “We have implemented a robust Risk Management system in line with international best practice with a well-developed Business Continuity Risk plan.  It identifies…