Business Update Issue 13

2 CONVENOR’S MESSAGE This issue focuses on, inter alia, the importance of transforming the township economy, which is vital to the upliftment of our people. The presence of big retail stores in the townships has had a dramatic impact on the township economy. The introduction of these multinational enterprises disrupts the local way of doing business, and it will require a concerted effort to support the development of township entrepreneurs, especially local SMMEs. In this issue of Business Update we open up this important discussion. On a different, but equally important issue, the cover story focuses on the ethics of whistleblowing and the requirement that transparency and openness are never compromised. In an age where corruption has become intolerably high, it is of utmost importance that the ordinary person in a business or institution should retain the right to inform his or her superiors or relevant authorities of wrongdoings in the workplace, without fear of victimisation. With the aforementioned two, somewhat challenging, topics in mind, I would like to leave you with these points of wisdom from Indian activist Mahatma Gandhi: “There are seven things that will destroy us: • Wealth without work • Pleasure without conscience • Knowledge without character • 5HOLJLRQ ZLWKRXW VDFULoFH • Politics without principle • Science without humanity • Business without ethics”. We trust that you will enjoy this issue of the magazine and we await your comments for future issues. Enjoy the read! Message from the Editor Chief Albert Luthuli House 54 Pixley Ka Isaka Seme Street Johannesburg Editor Daryl Swanepoel Managing Editors Alwyn Marx and Sharon Preston Art Director Justine Kerr Copy Editing & Proofreading Loren Shirley-Carr and Lynne Yates Contributors Lebogang Maille, Divya Singh, Vernon Subban, Jonathan Salant, Deven Govender, Clement Marumoagae, William Gumede, Vuyisile Msila, Chantelle Gladwin, Vuyisile Msila, Andille Ntingi, Tatenda Zingoni, Tim Hughes, Zakhele Buthelezi, Dylan Weyer Cover image Gallo Images/Getty Images/iStock Business Update is published by Ballyhoo Media. Opinions expressed in Business Update are not necessarily those of Ballyhoo Media, the ANC or Progressive Business Forum. No responsibility can be accepted for errors, as all information is believed to be correct at the time of going to print. Copyright subsists in all work in this magazine. Any reproduction or adaptation, in whole or in part, without written permission of the publishers is strictly prohibited and is an act of copyright infringement which may, in certain circumstances, constitute a criminal offence. Publisher Ballyhoo Media: a division of Ballyhoo Trading CK No: 2007/207595/23 14 Sixth Street, Parkhurst, Johannesburg, South Africa, 2193 PO Box 3125, Parklands, 2121 Tel: 086 111 4626 Fax: 086 670 6429 Printed by Creda Project Manager Clinton Thomas | Financial Manager Anup Govan Daryl Swanepoel