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MyPR.co.za: Eaton South Africa achieves level 1 BBBEE rating for third year running

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Eaton South Africa achieves level 1 BBBEE rating for third year running:

Power management company Eaton is proud to announce that it has achieved the top rating as a Broad-Based Black Economic Empowerment (BBBEE) contributor in South Africa for the third consecutive year.

Providing a framework for economic transformation, South Africa’s BBBEE program seeks to address the social harm caused by apartheid. The legislation aims to enhance the economic participation of previously disadvantaged people of color in the country’s economy.

With eight levels of compliance, Eaton South Africa’s reaffirmed BBBEE level 1 status signifies its continuing commitment to inclusion, diversity, and transformation. The company scored a total of 101.45 points in its most recent assessment, with key metrics including 25.5% black ownership and 13.51% black women ownership.

“Achieving a BBBEE level 1 score for the third year in a row demonstrates our huge commitment to being the preferred supplier to all our customers and channel partners across Africa,” comments Boitumelo Moselane, manager, Human Resources. “Our top rating will deepen our ability to help drive transformation in South Africa, as well as increase the competitiveness of our customers and suppliers. As a level 1 business partner, our ranking offers benefits to everyone in our supply chain—both financially and by increasing their own BBBEE scores.”

Every organization’s BBBEE rating is based on a scorecard assessing five pillars of empowerment: ownership, management, skills development, enterprise development, and socio-economic development. Each pillar carries a different percentage weighting to calculate the final score.

“We’re thrilled to see our ongoing efforts to foster inclusion and diversity paying off,” adds Seydou Kane, managing director, Africa. “We firmly believe our dynamic mix of people makes us stronger as a business, fueling sustainable growth that benefits us, our customers, and our communities. We’ve worked tirelessly to ensure that each and every employee in South Africa feels included, empowered, and welcomed, so we can all contribute our best.”

Recent inclusion and diversity initiatives at Eaton South Africa include developing women leaders with mentoring, training, and networking programs—with five female team leaders now on the shop floor. The company also offers a robust graduate program for students and apprentices that emphasizes practical experience and on-the-job learning, which saw 12 students absorbed into permanent roles during 2019.

Eaton has been operating in Africa since 1927 and has offices in South Africa, Kenya, Côte d’Ivoire, Morocco, and Nigeria, as well as more than 200,000 square feet of manufacturing space located in South Africa and Morocco.

Eaton’s mission is to improve the quality of life and the environment through the use of power management technologies and services. We provide sustainable solutions that help our customers effectively manage electrical, hydraulic and mechanical power – more safely, more efficiently and more reliably. Eaton’s 2019 revenues were $ 21.4 billion, and we sell products to customers in more than 175 countries. We have approximately 101,000 employees. For more information, visit Eaton.com.

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MyPR.co.za: South African Financial Market Update | 02 April 2020

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South African Financial Market Update | 02 April 2020:

South African Market Update 2 April 2020

James Mckeown, director of Domisa Treasury shares weekly market updates, along with his current view on the South African market.

Levels at the time of writing: USD 18.26; EUR 19.98; GBP 21.22.63

– US markets close down 4.5%, ZAR & EM currencies weaker: ZAR & BRL both posted all time record lows against the USD. USD was bid up along with safe-haven assets as the worst global manufacturing data since 2009 highlighted the deep impact of the shutdown on global GDP. With Donald Trump warning of a “horrific” couple of weeks to come it’s becoming clear to the market that the disruption will be deeper and longer in duration than previously anticipated

– Risk perception and volatility remain highly elevated: In the absence of firm quantitative data points with respect to the pandemic any estimates of future earnings remain guesswork and efficient price discovery impossible. Volatility will remain high until this meaningful data becomes available. Whilst the markets have shown some sense of consolidation with volatility easing slightly from its extreme highs this needs to be discounted by the end of Q1 window-dressing. Until a degree of stability returns to global markets Emerging Markets and ZAR will continue to suffer exaggerated impact of risk aversion

– Fitch downgrades SA Banks: ABSA, FirstRand, Investec, Nedbank and Standard Bank all downgraded to BB negative with a negative outlook – “We believe the South African operating environment is particularly exposed to the pandemic because of its highly dense and vulnerable communities, and heightened macro-economic risk from falling commodity prices, disruption to tourism, mining activity and manufacturing, as well as pressure on the country’s public finances.”

– ABSA Purchasing Managers’ Index [PMI]: experienced the weakest quarterly performance since 2009. The index tracking expected business conditions in 6 months’ time fell in March 2020 to below the lowest reading recorded during the 2008/09 global financial crisis and, in fact, the lowest level on record. This means that the worst is yet to come for the manufacturing sector

– SA vehicle sales crash: Naamsa – “New vehicle sales statistics for March 2020 reflects a substantial decline of 14 150 units or 29,7% from the 47 695 vehicles sold in March last year to the aggregate domestic sales of 33 545 units in March 2020. Equally, export sales at 28 883 units also registered a huge fall of 7 905 units or a decline of 21,5% compared to the 36 788 vehicles exported in March last year. The performance of vehicle exports over the course of 2020 is linked to the duration of the Covid-19 pandemic and its impact on the global economy.” To South Africa the vehicle industry represents 30% of manufacturing output, 14% of exports and 450k formal jobs (direct & indirect). April figures will demonstrate the full impact of the virus on the industry

– ZAR remains deeply oversold, but vulnerable: along with SA assets in general ZAR remains deeply undervalued. Bond yields north of 10% and ZAR at current levels will not last once appetite for risk re-emerges, which will not happen until quantitative data around the extent and duration of the global economic damage is available. Developed markets, and the US markets in particular, need to find a firm footing before significant appetite for Emerging Market carry & yield return. It’s at this point that SA assets & ZAR represent incredible value. Keep a lookout for that / those catalysts. Until then SA & ZAR face further volatility and weakness

Please do not hesitate to contact us, should you have any queries or transactions.

CLICK HERE to submit your press release to MyPR.co.za.

– MyPR

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MyPR.co.za: Bosch Rexroth South Africa Group appoints first distributor in Tanzania

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Bosch Rexroth South Africa Group appoints first distributor in Tanzania:

Mabula Magangila, Managing Director, of Magare Company Limited, receives the Authorised Distributor certification certificate from Louis Potter, Africa Development Manager, HSA. The handover ceremony took place on 16 March.

Hytec Services Africa, a member of the Bosch Rexroth South Africa Group of Companies , has awarded distribution rights in the United Republic of Tanzania to Magare Company Limited. An electrical and mechanical engineering company with offices in Mwanza and Dar Es Salaam, Magare’s distribution rights are effective from 1 March 2020. The company, which supplies services to general industry and the mining sector, will distribute all Bosch Rexroth Group Company products throughout Tanzania.

In selecting a distributor, numerous companies were evaluated against a set of pre-determined criteria to establish the best potential business partner. “Magare has a division specialising in mechanical and electrical component sales, and they service the same customer base as Hytec Services Africa,” says Louis Potter, Africa Development Manager, HSA. “These factors, among others, perfectly position the company to be a proud distributor for the full product range from the Bosch Rexroth South Africa Group of Companies.

Tanzania has a large mining industry with a broad array of needs, and HSA’s goal is to provide specialist solutions to address these specific customer requirements. “Tanzania is a target country for Bosch Rexroth products,” Potter says. “We have developed good relationships with the larger mining groups to the point that more attention closer to home became necessary. Magare is the perfect in-country partner for us to ‘Move now, Drive tomorrow, Shape Africa’.”

The company will perform a sales service with specialist support from South Africa. “We intend building on this relationship through knowledge transfer to ultimately include service and repair capabilities in the future,” Potter concludes.

As Africa Development Manager, Potter will spend significant time in Tanzania to assist Magare as it grows into its role as a Bosch Rexroth partner.

These long-term partnership investments enable the Bosch Rexroth Group to take its products, services and expertise into the broader African market and strengthen its position as a leading international fluid power and automation company.

CLICK HERE to submit your press release to MyPR.co.za.

– MyPR

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MyPR.co.za: South African Biotech company provides surface disinfection against Covid-19

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South African Biotech company provides surface disinfection against Covid-19:

Burt Rodrigues, CEO Biodx Photo: Provided by Biodx

Preparing now to flatten the curve

Whilst many individuals, companies and manufacturers initially stocked up on disinfectants and sanitisers at the start of this worldwide pandemic, did they foresee just how long these stocks would last? We’re already seeing many countries stopping exports of raw materials and ingredients needed to manufacture these vital products, of particular importance for our workforce at the front of the Coronavirus – health workers, contract cleaners, supermarket employees, police, army, food manufacturers and so many others who need constant protection.

Recently commercialised, Biodx, a proudly South African company, with technical support from the CSIR as well as financial support from TIA and the IDC have spent the last 15 years relentlessly researching and developing cutting edge antimicrobial and antiviral technologies.

Burt Rodrigues, CEO of Biodx says “We realised 15 years ago that conventional chemicals were falling short of controlling modern pathogenic outbreaks, for example – listeriosis, and decided to embark on a search for natural, sustainable raw materials that are new to the many pathogens encountered today.”

An active ingredient in Biodx disinfectant formulations has demonstrated “virucidal activity against enveloped viruses”, which encompasses Coronavirus as stipulated by the EN14476:2013 +A2 2019, and has been produced to meet strict European and South African regulatory compliance.

Most importantly Biodx has substantial stock, fully produced in South Africa, to carry on manufacturing however long this pandemic lasts – keeping South Africa disinfected and safe.

See: https://biodx.co/coronavirus/

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– MyPR

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MyPR.co.za: Van Schaik Announces Innovative Digital “Influencer Search” Campaign to Assist Students while South African Universities Remain Closed

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Van Schaik Announces Innovative Digital “Influencer Search” Campaign to Assist Students while South African Universities Remain Closed:

Van Schaik Bookstore has announced today that they are on the hunt for 20 “Student Influencers” to participate in a job creating national campaign to promote their innovative Van Schaik Rewards App.

With more than 100 years of expertise, Van Schaik is Southern Africa’s leading chain-store supplier of academic resources with more than 70 stores located in South Africa, Botswana, Swaziland and Namibia.

The Van Schaik Student Influencer Search campaign, which launches today, comes at a time when all universities are suspending contact academic programmes and the World Health Organisation is advising self-isolation to prevent the spread of the new Coronavirus strain.

Adding to that challenge, the high number of unemployed youth in South Africa (currently sitting at *55%) demonstrates the need for work opportunities. This exciting initiative allows for students around the country wanting to earn an income, grow businesses, connect and learn new skills simultaneously.

“The Van Schaik Rewards App forms an integral part of staying in touch with our customers and providing an easy, achievable means to fund certain student necessities,” says Stephan Erasmus, MD of Van Schaik.

The campaign is aimed at rewarding students and the general public for their loyal support. By simply ‘swiping’ open their mobile lock-screen to engage with curated content, they earn cash into a virtual App Wallet and other benefits. The benefits include special offers, exclusive competitions and the means to spend the money in their App Wallet on pre-paid airtime and data, at Van Schaik stores or at Rewards Partners including Dis-Chem, Shoprite Checkers, Debonairs Pizza and more.

In support of students during this time of social distancing, Van Schaik has also just introduced their “STAY SAFE – BUY ONLINE, WE BRING IT TO YOU WITH FREE DELIVERY” service for all vanschaik.com orders of R200 or more until 17 April 2020.

Any orders made online are qualifying purchases for the Van Schaik Rewards Programme as well thus paying the student back for being socially responsible.

Students wanting to participate in the “Van Schaik Student Influencer Search” need to apply at pridefactoracademy.com/van-schaik-influencer. All applicants will be given a unique tracking number. They have one week to get as many friends, fans and followers to download the App and start enjoying the benefits of earning rewards from home.

The top 20 students who get the most Van Schaik Rewards App downloads will be notified as winners and then given one month to prove their worth as ‘Influencers’. Each will be paid a salary for that month and receive incentives for reaching targets, as well as receive support and training from the campaign hosts.

Spot prizes provided by JanSport backpacks, known for its lifetime guarantee and superior quality, will also be on offer. All App users are eligible to win spot prizes during the six week period.

Enter the Van Schaik Student Influencer Search here

 

CLICK HERE to submit your press release to MyPR.co.za.

– MyPR

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