Nov 25, 2011
CE optimistic about SA’s futureBack
Brian Joffe|Engineering|Africa|Bidvest Group|Education|Africa|Chile|Egypt|South Africa|Diverse|Food|Brian Joffe|Baltics
© Reuse this
In sharing some of the secrets that have sustained the company’s success over its 22 years in existence and some of its future plans, Joffe says each of its 3 000-odd business units are given measurable targets to meet.
Each business has its own management and finanical teams to make it easier to meet these targets.
Joffe concedes that one of the challenges of being a diverse group is management, which is why Bidvest’s organisational process is decentralised. This is also why the group does not centrally manage any of its businesses.
“This philosophy gives us the flexi- bility of a small business, which benefits us as a big company financially,” he added.
This, in part, contributed to the group’s positive financial performance this year, despite the continued economic uncertainties facing many of the countries in which Bidvest Group operates.
Joffe asserts that the success of the company would not have been possible without the many contributors, ranging from its staff to its business partners.
“The depth of skills in Bidvest Group is significant and I am optimistic about the future of the company,” he says.
Meanwhile, in August, the group turned down unsolicited bids for the international food service division, saying it planned to expand the business through acquisitions in Egypt, Chile and the Baltics.
“We need to be able to deliver proper education for all, but especially to the previously disadvantaged,” he says.
Joffe asserts that South Africa must create a skilled labour force to enable it to create a sustainable economy.
Nevertheless, despite the challenges of operating in the local market, the tough trading conditions and low business confidence levels, Joffe says Bidvest remains committed to its businesses in South Africa.
“I have no doubts about the positive future outlook for South Africa. Bidvest has been here through the difficult times and I am sure we will remain here,” he states.
Further, he welcomes Minister in the Presidency Trevor Manuel’s assurances that government does not intend to nationalise South Africa’s mines or any other sectors.
Joffe says Bidvest has, over the past two years, embarked on succession planning for the future.
“We have been in the process of appoint- ing younger CEOs and the structuring and planning are all in place,” he tells Engineering News.
Edited by: Chanel de Bruyn© Reuse this Comment Guidelines (150 word limit)
Other Financial Services to Industry News
The current trend of successful small and medium-sized enterprises from South Africa aiming to expand into the rest of Africa has led to the importance of credit ratings and risk assessments being increasingly recognised, credit solutions provider Coface tells...
The GPF was established by the Gauteng provincial government to address specific challenges in the social housing sector in terms of affordable rentals. The GPF’s mandate is to facilitate, through partnerships, delivery of affordable housing to income earners of...
Green energy technology service provider New Southern Energy (NSE) is supplying a photovoltaic (PV) solar panel system, generator and batteries for an energy efficiency greenfield project at a game lodge in Arniston, in the Western Cape. Construction at the game...
Updated 2 hours 10 minutes ago Human Settlements Minister Lindiwe Sisulu was considering the formation of a Women Construction Bank to focus on financing women-led cooperatives and construction companies involved in community infrastructure and human settlements projects. Delivering a keynote...
Updated 2 hours 34 minutes ago The seasonally adjusted Kagiso Purchasing Managers’ Index (PMI) has contracted for the fourth consecutive month, signalling the manufacturing sector’s continued subpar performance. The index “expectedly” fell from 46.6 in June to 45.9 index points in July,...
Updated 2 hours 47 minutes ago National carrier, South African Airways (SAA), is adding more travel options on the African continent. In a statement, on Thursday, SAA said it was increasing flights on the Johannesburg-Lagos route, where it will offer eight frequencies per week effective from 1...
Recent Research Reports
Real Economy Year Book 2014 (PDF Report)
This edition drills down into the performance and outlook for a variety of sectors, including automotive, construction, electricity, transport, steel, water, coal, gold, iron-ore and platinum.
Real Economy Insight: Automotive 2014 (PDF Report)
This four-page brief covers key developments in the automotive industry over the past 12 months, including an overview of South Africa’s automotive market, trade figures, production and the policies influencing the sector.
Real Economy Insight: Construction 2014 (PDF Report)
This five-page brief covers key developments in the construction industry over the past 12 months. It provides an overview of the sector and includes details of employment in the sector, infrastructure and municipal spending, as well as insight into companies’...
Real Economy Insight: Electricity 2014 (PDF Report)
This five-page brief covers key developments in the electricity industry over the past 12 months, including details of State-owned power utility Eskom’s generation activities, funding and tariffs, independent power producers and prospects for the sector.
Real Economy Insight: Road and Rail 2014 (PDF Report)
This six-page brief covers key developments in the road and rail industries over the past 12 months, including details of South Africa’s road and rail network and prospects for both sectors.
Real Economy Insight: Steel 2014 (PDF Report)
This four-page brief covers key developments in the steel industry over the past 12 months. It provides an overview of the global and South African steel and stainless steel markets, South Africa’s major steel producers and events that have shaped these markets.
This Week's Magazine
South African construction company Group Five says work on the rehabilitation of the 800 km stretch of the Plumtree–Mutare highway, in Zimbabwe, should be completed by the end of this year. Giving evidence before the Parliamentary Porfolio Committee on Transport...
The Space Operations division of the South African National Space Agency (Sansa) revealed on July 17 that it had supported the successful launch of the US National Aeronautics and Space Administration’s Orbiting Carbon Observatory-2 (OCO-2) satellite on July 2. The...
Phase 1A of Johannesburg’s Rea Vaya bus rapid transit (BRT) system should carry around 42 000 people a day, while it was been expected that Phase 1B, rolled out last year, would add another 60 000 daily passengers. However, the entire system is currently carrying...
A stormwater project in Bedforview, east of Johannesburg, has stalled for eight months after project managers in the Ekurhuleni municipality resigned and municipal managers were placed on special leave without designating replacements. Construction to reinforce the...
The design of the Beit Bridge border post is the biggest impediment to efficient freight movement between Zimbabwe and South Africa, says Cross-border Road Transport Agency CEO Sipho Khumalo. Beit Bridge is the busiest border post in Africa. A research study on the...