Solidarity Fund: EFF tops 10 highest payroll giving donors

– Original article from The South African

The EFF and leader Julius Malema have donated R6 million to the fund, which amassed over R2.7 billion to support COVID-19 relief.

Since the COVID-19 Solidarity Fund was established by President Cyril Ramaphosa in late March, it has amassed R2.7 billion in commitments, with donations of R2.16 billion already deposited from 175 000 individuals and more than 1 500 corporates and foundations.

Providing an update on the success of the fund to date, fund management said on Monday 18 May that several individuals and organisations had gone above and beyond to contribute to the fund, which also outlined its distribution strategy.

Below is a list of the top companies and individuals who have made donations via a payroll giving scheme that allows a portion of employees salaries to be sanctioned for donation.

TOP 10 DONORS TO THE SOLIDARITY FUND VIA PAYROLL SCHEME

Aside from the most exorbitant once-off donations that have been given by the Oppenheimer family, Naspers and the National Lottery, who together have contributed over R1.5 billion to the fund, many other organisations have made great sacrifices to ensure the growth of the fund.

According to the latest data, the highest payroll giving contributors to the fund are as follows:

1. JULIUS MALEMA AND EFF

The Economic Freedom Fighters (EFF) top the list in terms of donations.

They have currently donated a total of R6 million to the fund.

2. SAFIKA HOLDINGS (PTY) LTD

Safika Holdings announced at the end of April that they had agreed for its top executives to donate a third of their salaries to the fund, and have now donated R3 million in total.

They are Safika chairman Saki Macozoma, CEO of Safika International, Marc Ber and the CEO of Safika Resources, Justin Pitt, as well as chief executive Moss Ngoasheng, have all contributed.

3. YELLOWWOODS

Yellowwoods, an investment firm, are part of the team managing the fund, and have so far contributed R2.5 million.

“We are focused not just on what we can directly fund, but on the role, we can play in co-ordinating efforts and better orchestrating the resources and effort across the private sector, civic society and government,” said Nicola Galombik, executive director of Yellowwoods.

4. CORONATION FUND MANAGERS AND EMPLOYEES

At Coronation, 90 employees and the senior leadership from have pledged a portion of their salaries for a period of three months to the Solidarity Fund.

They have currently donated R2.2 million to date.

Coronation CEO, Anton Pillay said that the fund deserves all the help it can get.

“We believe that the Solidarity Fund is one of the most effective and high-impact channels through which both corporates and individuals can augment government’s efforts to deal with the COVID-19 epidemic. In addition to the corporate’s contribution, I was really encouraged by the level of support all my colleagues gave to the initiative.”

5. PEPKOR HOLDINGS

Pepkor have said that their senior management have taken a pay cut of over 30% to contribute to the fund, with R2 million donated.

“Pepkor realises the responsibility of business to contribute to the efforts to alleviate the impact of Covid-19 on South Africa and its citizens. We are fortunate to have a wide footprint that allows us to reach our many consumers who have loyally supported our brands over many years, and are therefore able to contribute to various causes throughout the country,” says Leon Lourens, CEO of Pepko

6. DEMOCRATIC ALLIANCE (DA)

Perhaps aggrieved to not have been as productive in assisting the fund as their EFF rivals, the DA have contributed significantly less, with R1.5 million pushed to the Solidarity Fund.

The financial contribution is drawn from the salaries of DA public representatives.

“In addition we will be distributing sanitisers worth R200 000 to essential workers who are at the forefront of keeping the economy functional and saving lives during this difficult time,” said spokesperson Solly Malatsi in April.

“Notwithstanding this overall contribution, DA public representatives are at liberty to make any additional financial contributions to the Solidarity Fund as individuals if they wish to do so.”

“The DA recognises that it is important for all role players in society to play our part to act in the best interests of the country during this time.”

7. ANONYMOUS

An annonymous donor also contributed R700 000 to the fund.

8. DRDGOLD LTD

Gold producer DRDGOLD has contributed R500 000 to the fund.

9. CLICKS GROUP

Clicks’ executive directors, CEO Vikesh Ramsunder, CFO Michael Fleming and human resources director Bertina Engelbrecht have pledged to donate a third of their salaries to the Solidarity Fund for the three months, with the company have donated R500 000 in total to date.

“We have heeded the call by President Cyril Ramaphosa to aid South Africa in the battle against the Covid-19 pandemic. We believe that corporate South Africa has a major responsibility in helping to combat this disease by working in partnership with the public sector and providing much needed resources,” said Ramsunder in April.

10. GOLDFIELDS/SOUTH DEEP

Gold Fields Chair, Cheryl Carolus, together with CEO Nick Holland and CFO Paul Schmidt and a number of other directors and executives have committed to donating a third of their salary for three months to the Solidarity Fund, with the company also having donated R500 000 to date.

Over 50 people at South Deep have also made contributions to the fund.

*Feature image by GCIS

Jupiter declares solid dividend at elevated payout ratio – by Mining Weekly Europe

JOHANNESBURG (miningweekly.com) – The final dividend announced by Jupiter Mines on Wednesday provides shareholders with a good yield at a payout ratio considerably higher than that stated in the company’s dividend policy.

The final dividend of the ASX-listed company, which operates the Tshipi Borwa opencast manganese mine in the Kalahari manganese field of the Northern Cape, provides shareholders with a total yield of 14.8% and a payout ratio of almost 92%, which is well above the company’s stated 70% dividend payout-ratio policy.

Saki Macozoma, the chairperson of the ASX-listed company’s Tshipi é Ntle Manganese Mining subsidiary, last week announced a donation of R5-million to the Solidarity Fund set up by President Cyril Ramaphosa in response to the devastating effects of the Covid-19 pandemic.

In its 2020 financial year, Tshipi é Ntle distributed R2.015-billion in dividends. Despite a challenging second half of the financial year, Tshipi é Ntle remained profitable, which again demonstrated the cash generation potential of Tshipi é Ntle, and the lucrative yielding dividend payment ability of Jupiter throughout the cycle.

Given the scale of operations, low operating costs, lean overhead structure, and no debt in either company, Tshipi é Ntle and hence Jupiter stand in an enviable position to benefit for decades to come from Tshipi é Ntle’s large mining reserves, and also to benefit in the shorter term as operations in South Africa return to full production from May 1, Jupiter CEO Priyank Thapliyal stated in a release to Mining Weekly.

Tshipi produced and exported 3.41-million tonnes during its 2020 financial year and exported 3.51-million tonnes.

Tshipi also moved the highest amount of waste volumes ever in any financial year.

In August, Tshipi commenced mining of the barrier pillar with South32 Limited, mining of which was ahead of forecast for the year.

Tshipi, the release stated, remained one of the lowest cost manganese producers globally, with the cost of production averaging R31.22/dmtu free on board during its 2020 financial year.

However, the manganese price, which recovered in January, has been knocked down again by Covid-19.

– Original article from Mining Weekly Europe.

Safika Holdings Top Executives Donate A Third of Their Salaries To Corona Crisis Solidarity Fund

Moss Ngoasheng, chief executive and deputy chairman of the Safika Holdings Group, a leading empowerment company, has announced that the Group will donate R3-million to the corona virus Solidarity Fund set up by President Cyril Ramaphosa.

Part of the donation comes from Ngoasheng and three other directors in their personal capacities, each donating one-third of their salaries to the fund. They are Safika chairman Saki Macozoma, CEO of Safika International, Marc Ber and the CEO of Safika Resources, Justin Pitt.

President Ramaphosa established the fund as a way for individuals and organisations to support measures to slow the spread of Covid-19, and assist in economic recovery.

Safika, which is controlled by Macozoma and Ngoasheng, was founded after the two political prisoners were released from Robben Island. It has grown to become a major investment house, based in Johannesburg, with interests around the world.

“As patriotic and caring South Africans, we have heeded the president’s call,” said Ngoasheng. “Our people are dying from corona, and they need help, we must do everything we can to support health providers and by responsibly assisting in getting our economy on track once the crisis is over.”

From its infancy, Safika has contributed to community upliftment and social responsibility donating large sums to tertiary educational institutions, providing funding for community projects and mentoring young businesspeople.

Vodacom Has Appointed Safika’s Chairman – Saki Macozoma as Chairman

Vodacom has appointed Safika’s chairman, Saki Macozoma as chairman of the Vodafone-owned mobile company in South Africa.

Macozoma’s appointment is effective from 22 July 2020. He was first appointed to Vodacom’s board in July 2017. He also assumes the role of chairman of the Nomination Committee.

Who is Saki Macozoma?

Saki Macozoma is one of the most prominent business figures in South Africa. He is executive chairman of Safika Holdings, Tshipi é Ntle and Ntsimbintle Mining, and a director of Volkswagen South Africa

In addition to his business interests, Saki makes a substantial contribution to civil society. He has served as chairman of the University Council of the University of the Witwatersrand and the Council for Higher Education and is currently a member of the Board of Governors of Rhodes University. He is the chairman of the KwaZulu–Natal Philharmonic Orchestra and has served as president of Business Leadership South Africa and as a member of the G20 Business Council.

In 2012, for his fight against State oppression during the apartheid era, the University of South African (UNISA), presented Saki with a Calabash award, the university’s highest honour. Saki’s fight against apartheid began in the mid-1990s when he worked as an organiser for the South African Students Movement. When he was 19, he was arrested for leading a student protest and sentenced to five years’ imprisonment as a political prisoner on Robben Island. It was here that he met South Africa’s future president, Nelson Mandela, who mentored him.

Following his release from prison in 1982, Saki played a prominent role in the formation of a number of anti-apartheid organisations, including the United Democratic Front and the Mass Democratic Movement. In 1994 Saki became an African National Congress (ANC) member of Parliament and was elected chairperson of the Parliamentary Portfolio Committee on Communications. In 1995, he was elected to the National Working Committee of the African National Congress.

In April 1996, Saki resigned from parliament to become the first black managing director of Transnet, the state-owned company that runs South Africa’s ports, railways and South African Airways. In 1998, he was appointed to the board of Standard Bank and later became its deputy chairman. He has also served as chairman of the prominent South African financial institutions STANLIB and Liberty Holdings.

Saki studied political science, economics and journalism at UNISA and the University of Boston.

A partnership rooted in true empowerment

Safika Holdings is honoured to be part of Ditikeni’s story

Safika Holdings, our shareholders, board, subsidiaries and all our employees, are proud to have partnered with Ditikeni from the very early days when challenges in the non profit organisation (NPO) sector seemed insurmountable.

In the euphoria of the dawn of democracy, many of us were oblivious to the threat our great struggle organisations were facing. They were being denuded of their most talented people as the new state built its civil service and policy capacity.

The foreign funding that many of these organisations had come to rely on was drying up.

It was not being replaced by the new progressive state in financial or service terms.

The consequence was that thousands of beneficiaries of these programmes and projects were abandoned at the very time many of their compatriots were enjoying the democratic dividend.

How could this dangerous situation be arrested and resources redirected at the NPOS that had been the backbone of service delivery to these people?

A bright spark lit the firmament when someone identified that the struggle NPOS could get together and create a company and a trust that would provide the broadbased element of empowerment in transformation dealmaking.

The idea is so simple and yet so effective that had many dealmakers of those heady days of empowerment deals embraced Ditikeni, the empowerment story could have been different both in substance and narrative.

We are grateful that Ditikeni saw in Safika Holdings a company that believes in true empowerment.

Our first substantial deal that we did with Ditikeni was the Stanlib deal with Standard Bank and Liberty about two decades ago.

The capacity to distribute resources in an accountable and sustainable way is what attracted us to Ditikeni.

Unlike many so-called broadbased structures that go to war among themselves as soon as the first cent flows in, working with Ditikeni has been a pleasure.

We at Safika salute Ditikeni, a steady and supportive business partner over the two decades of its service to the NPO sector.

We look forward to working with Ditikeni to build new businesses, create new commercial opportunities and employment prospects while its constituent organisations do what they are great at … providing service to our people when society and the state fails them.

SAFIKA RESOURCES DIVERSIFIES INTO ZINC AND COPPER

Safika Resources has announced that it has acquired nine percent of Australia’s Orion Minerals’ R4-billion (AUD408-million) project to reopen the Prieska copper and zinc mine in South Africa’s Northern Cape.

Safika Resources’ chairman Saki Macozoma said the acquisition is in line with the company’s policy of diversifying into copper and zinc in the near term. Safika Resources is already the leading exporter of manganese ore in South Africa through its Tshipi Borwa mine in the Northern Cape. “With Prieska, we look forward to replicating our success in manganese,” he said.

The Prieska mine was closed 28 years ago due to low commodity prices, but improved market conditions and improved modern mining methods now make its reopening an attractive option for investors. A recent bankable feasibility study showed that the R4-bn project will be paid back within three years from the start of production, with a post-tax IRR of 33%.

Justin Pitt, Safika Resources’ chief executive says that with planned all-in sustaining costs of US$3,773/t copper equivalent and market consensus long term copper and zinc prices of US$6,575/tonne and US$2,338/tonne respectively, the all-in-sustaining margin is expected to be in the order of 44%.

Pitt said that Safika’s nine per cent stake was acquired through it taking a 44,72% stake in BEE Holdco (Prieska), a BEE Entrepreneur owned company which owns 20% of the project. “Safika’s impeccable credentials made it an ideal partner for Orion when it sought to restructure its BEE ownership to comply with the requirements of the 2018 Mining Charter,” Pitt explained.

Pitt added that Safika Resources has considerable mining and exploration rights in the Northern Cape, and the Prieska transaction is part of the company’s expansion strategy in the region.

The Prieska mine will be restarted in what Australia’s Orion calls its “foundation phase”, a period lasting 10 years and delivering zinc and copper in concentrate, generating nearly R33bn of revenue.

Not only does the foundation phase exploit only 20,8Mt of the 30,5Mt of the known reserves and resources, but Orion says there is potential for extensions to the deposit and fresh discoveries around the mine.

The 2.4-million tonnes a year underground and opencast mining operation and processing plant will deliver 189,000 tonnes of copper and 580,000 tonnes of zinc in separate concentrate streams during the first 10 years.

The funding for the project, which peaks at around R3,8Bn (AUD3,78Bn), will be raised in part equity from its primary listing in Sydney and its secondary listing in Johannesburg, along with debt.

Big birds catalyst for new quail processing facility in Queensland

By Cassandra Hough | Source

The cooked chook might be a staple in the Australian diet, but Brisbane Valley poultry farmer Duncan Brown is looking to the more exotic quail to tempt consumers’ tastebuds and overseas markets.

When Mr Brown sat down to a quail dish a couple of years ago, he was taken aback by the size of the bird.

“I’ve always liked quail, but always found it a bit fiddly and difficult to eat,” he said.

“I had a memorable meal at a Sydney restaurant and the quail was twice as big as what I was accustomed to, served as a main meal, and I traced that back to a farmer in the Hunter Valley.

“After two years’ discussion we agreed to be in partnership, so growing these quail that are, instead of your typical 180 to 200 grams, they’re 300 to 450 grams and that’s purely because over many years this farmer has been selecting bigger birds.

“So I guess in a sense it’s a unique breed of quail that chefs like in Asia and here because they can put it on the menu as a main meal instead of an entree.”

As a result, Mr Brown and his sister, Selena Gomersell, have built a $2 million quail processing plant at Coominya in south-east Queensland.

The plant has been Safe Food accredited and they have now applied for export certification to Singapore and Hong Kong.

Brisbane Valley Protein Precinct quail manager Vassie Govender holds a quail. (Supplied: Agi Davis Photography)

The quail processing plant employs an additional 10 people with hopes that 20 to 30 people would eventually be employed.

But Mr Brown estimated that number could grow to 200 jobs if the protein precinct was approved.

Full production will start in early August but it is the tip of the iceberg for the siblings.

The grand plan is to build a dedicated ‘protein precinct’ on their land, which would incorporate other meat processing and food tourism.

Mr Brown said he hoped the precinct would put the region on the world’s gourmet food map and the quail processing was just the beginning.

“We have a Section 242 application before the State and the local Somerset Council to have a masterplan for our 1,011 hectares to effectively turn it into a protein precinct that will cater for future development in terms of training around food, meat processing, and food-based tourism,” he said.

“Our vision is to turn that parcel of land into a hub that produces protein for the global market, particularly Asia.

“Not just employment. We’ve had some great conversations with the local high schools, there’s a big emphasis on work-based training, and we really want to tap into that and help young people in the area see there’s a good future in food.”

Integrated protein production hub approved for Somerset

Source: https://bit.ly/2AX63xN

Plans for a multi million dollar integrated protein production hub at Coominya has been awarded preliminary approval by Somerset Regional Council.

The Brisbane Valley Protein Precinct master plan aims to satisfy Asia’s appetite for quality meat and will help position the region for a buoyant future.

Brisbane Valley Protein managing director, Duncan Brown, welcomed Somerset Regional Council’s strong endorsement of the precinct which he said would help provide a future opportunity in food production for generations to come.

“The Somerset Region already punches above its weight in terms of producing quality meat products for the world and food production accounts for more employment than any other sector,” Mr Brown said.

“Council’s support means this future is secure with nearly 3000 acres set aside for projects that support the growing, processing and exporting of quality products as well as training of young people for a future in food and hospitality initiatives that will continue to put the region on the map as a food tourism destination.

“Our hope is the precinct becomes a hub for conceiving and realising food production dreams.”

The master plan is set on 2500 acres near the township of Coominya and features 10 sub-areas accommodating a range of uses from food-based tourism, training, meat processing and livestock production.

Mr Brown said the preliminary approval reflected the strong community support for the project and meant the “heavy lifting” had been done up front in terms of environmental modelling.

“We went through a 60 day community consultation process and didn’t receive a single negative submission,” he said.

“We’d like to thank the community for their belief in the project and the positive outcomes we all believe it can deliver in the area.

“The approval provides a major shot of confidence for investors and others seeking to bring the precinct to life.”

Somerset Mayor Graeme Lehmann said the development was the first dedicated protein production hub in Australia.

“This development is well planned, strategic and will bring huge benefits to the region,” Cr Lehmann said.

“This is great news for our community in that it will bring more jobs to the region and showcase Somerset on the international stage through production, exports and hospitality modelling.”

The master planned area will include a variety of rural and food production land uses that could include poultry, quail, game birds, cattle protein precincts including food processing, hatcheries and a growing farm.

Also contained within the master plan is the establishment of a produce pavilion, restaurants, markets, food hospitality areas including state-of-the-art training facilities, tourist park and a function facility.

The project will be rolled out in stages, each stage subject to a code assessable development application, with stage one of the precinct – an integrated, ‘hatch to dispatch’ quail business – completed in August this year and the first exports of quail to Asia happening last week.

Safika’s Brisbane Valley positioned for strong export future

The Brisbane Valley Protein Precinct has taken an important step towards satisfying Asia’s appetite for quality meat. Australia’s Somerset Regional Council has granted preliminary approval for the company’s masterplan, a strong endorsement of the project.

The masterplan is set on 2500 acres (1011 hectares) near the town of Coominya and features ten sub areas accommodating a range of uses from food-based tourism, training, meat processing and livestock production. The project will be rolled out in stages, each stage subject to a code assessible development application.

Brisbane Valley Protein managing director, Duncan Brown, welcomed the announcement by the council which he said would help provide future opportunities in food production for generations to come.

Safika’s Saki Macozoma said that Brisbane Valley is an important component in Safika’s strategy of expanding its agricultural interests. “Brisbane Valley is working to fulfil an important need for Asia and doing so in a way that will create jobs and add value,” he said.

Marc Ber, of Safika International, said that hard work and meticulous planning by the team is paying off. “Safika and Brisbane Valley Protein are creating a business hub that is going to play an important role in job creation and food provision for generations to come, adding value to all our stakeholders.”

Duncan Brown said: “The Somerset Region already punches above its weight in terms of producing quality meat products for the world and food production accounts for more employment than any other sector,” Mr Brown said.

“Council’s support means this future is secure. We have set aside nearly 3000 acres (1214 hectares) for projects that support the growing, processing and exporting of quality products. We are also training young people for a future in food and hospitality initiatives that will continue to put the region on the map as a food tourism destination.”

Mr Brown said the preliminary approval reflected the strong community support for the project and meant the “heavy lifting” had been done up front in terms of environmental modelling.

“We went through a 60-day community consultation process and didn’t receive a single negative submission. We’d like to thank the community for its belief in the project and the positive outcomes we all believe it can deliver in the area. The approval provides a major shot of confidence for investors and others seeking to bring the precinct to life.”

Stage 1 of the precinct – an integrated, ‘hatch to dispatch’ quail business – was completed in August this year with the first exports of quail to Asia happening last week.

“This project is helping put the Brisbane valley and Somerset Region on the map.”