Commerce & Industry

Mighty in IT

Thursday, 11 March 2010 09:48

Govender talks to Leadership on music to megabytes

March 2010 Issue - On Sale Now!

Over a period of 25 years, Durban businessperson Willy Govender has worked his way up from being a data capture clerk to owning a diversified group of information technology companies with an annual turnover of more than R250 million – an achievement that made him South Africa’s Emerging Entrepreneur in Ernst & Young’s World Entrepreneur Awards in November 2009.

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Eureka!

Monday, 12 October 2009 10:38

Celebrating homegrown inventors and inventions

Talk inventions, and the popular image of Victor Frankenstein creating his human monster in the gloomy basement of a dark castle jumps to mind. Or “Q” handing James Bond his latest life-saving or enemy-destroying device. Closer to reality were the detailed designs of Leonardo da Vinci for various contraptions that were hundreds of years ahead of their time.

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Loerie Awards

Saturday, 26 September 2009 11:10

In tune with the best

This year's Annual Loerie Awards were held for the first time in the Mother City. Brightly coloured emoticons representing various aspects of monster-sized egos where festooned across a range of venues in Long Street – and formed part of an engaging display that tantalised the locals in this year’s spirit of celebration of creative excellence.

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Beer sales leaking

Saturday, 25 July 2009 08:13

New liquor laws are impacting negatively on sales

and could negatively affect share prices

Legislative constraints introduced in the liquor market in the Western Cape are starting to impact negatively on liquor companies, with giant beer brewer SABMiller reporting a 2% loss in sales volume despite the South African beer market having grown by 2%.

The new liquor laws introduced by both the City of Cape Town and the Western Cape provincial government may set a legislative trend for the rest of the country, while the effects of these laws may impact negatively on the share prices of liquor companies.

While the recent direct entry to the local market of Dutch beer brewer Heineken may also have something to do with it, SABMiller has nonetheless blamed its 2% decline in sales volume on "weakening consumer demand, rising unemployment, and constraints on the sale of alcoholic beverages in the Western Cape".

The latter refers to the stricter local government and provincial laws introduced in the Western Cape, which have created some disruption in the industry and have served to clamp down on illegal shebeens that focus on beer sales and are a major part of SABMiller's local market.

In addition, the new laws curb the trading hours of licensed liquor establishments in residential areas, affecting restaurants, hotels, guest houses and clubs.

The dual impact of new liquor laws and new competition are reflecting negatively in beer sales and could also negatively affect share prices. There are fears it could set a trend.

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