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Cost of building in SA is now 11% higher than last year

The cost of building in South Africa is 11% higher than it was last year as local contractors pass the burden of inflation to their clients. According to Craig Lemboe, senior economist at the Bureau for Economic Research (BER), the Building Confidence Index (BCI) for the third quarter of 2022 is now 11% higher year-on-year that it was in the second quarter - thus indicating that the gap between input costs and the tender price is becoming narrower. This means contractors are not carrying the burden of input costs like before and are now leaving clients to foot the higher bill.

Die inklusiewe ekonomie

Op die Sake-Uur gesels ons “Read of the Week” en die boek, Die Inklusiewe Ekonomie, is in die kollig. OFM se Lee Simmons gelsels met Dr. Arno van Niekerk, skywer van Die Inklusiewe Ekonomie, oor die nuwe boek.

Digital marketing strategies 'a game-changer' for business - Two Tone Global COO

Natalie Murison, the Chief Operating Officer (COO) at Two Tone Global tells the OFM Business Hour that businesses cannot be structuring any kind of media campaign without having active presence on social media. Whilst this is something that has been in the public domain for sometime, she explains that the sentiment intensified on the back of Covid-19 with many companies pivoting their marketing spend exclusively towards digital strategies. Murison says for their business in particular, digital marketing now makes up about 60% of Two Tone Global's revenue. This as the 10-year-old marketing agency has been selected as SABC's creative agency of choice in marketing the 2022 FIFA World Cup taking place in Qatar towards the end of the year.

Sales for water filtration systems rise as service delivery worsens

About 55% of sales for water filtration systems in the market are taking place in urban areas as compared to 45% in rural areas. This is according to Sebasti Badenhorst, the executive responsible for sales, marketing and distribution at Jojo. This is a clear indicator that water quality in urban areas is becoming poorer as municipalities struggle to service growing populations.

Steinheist to tell the story of the people behind the fraud

Showmax’s much-anticipated 3-part docuseries Steinheist aims to shed light on the people and the interpersonal relationships behind the corporate fraud. Steinheist director, Richard Finn Gregory, tells the OFM Business Hour that the documentary seeks to unpack the motivations of these central figures like Steinhoff’s former Chief Executive Officer (CEO) Markus Jooste.

Eskom’s tariff hike may be last straw for many businesses

The latest plan by Eskom to apply for a 32% tariff hike that will be implemented on 1 April 2023 is seen as unacceptable by the Northern Cape Chamber of Commerce and Industry (Nocci), as the hike might lead to some businesses closing down. OFM’s Olebogeng Motse chats to the CEO of Nocci, Sharon Steyn about what the chamber thinks of the tariff hike and how will it affect businesses.

Purchase some real estate on the Metaverse

Sceptical about the Metaverse? Purchase some real estate there anyway says Rogerwilco Chief Executive Officer (CEO) Charlie Stewart. He was on the OFM Business Hour unpacking key findings on the Metaverse in the 2022 SA Digital Customer Experience which he co-authored alongside Amanda Reekie from ovatoyou and Julia Ahlfeld of Julia Ahlfeldt CX Consulting.

The importance of a Will explained - National Wills Week

12 to 16 September is National Wills Week – the sole purpose of the week is making people aware of the importance of having a valid Will. A Will is seen as such an important document it is because it is the only legal document that has a standing of what should be done with one’s assets, big or small, when they are no longer alive. OFM News’ Tshehla Koteli had a conversation with Johan Strydom, Head of Growth at FNB Fiduciary to find out more on Wills.

Jagersfontein mine was always a disaster waiting to happen

Jagersfontein resident and community activist, Lebogang Phoofolo, tells the OFM Business Hour that the slime dam in the mining town was always a disaster waiting to happen. This comes after the slime dam belonging to diamond mining company Jagersfontein Developments breached on Sunday, 11 September damaging houses and vehicles. The incident saw the death of one person. Phoofolo says the community has actively been demanding development from the mine for years and also raised concerns over the danger of the mining activities.

DESTEA ups the ante on supporting FS businesses

Makalo Mohale, the MEC of the Free State Department of Economic, Small Business Development, Tourism and Environmental Affairs (DESTEA) tells the OFM Business Hour what they are doing to better support businesses in the province.

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