Nov 25, 2011
CE optimistic about SA’s futureBack
Brian Joffe|Bidvest Group|Education|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
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...
Recent Research Reports
Automotive 2014: A review of South Africa's automotive sector (PDF Report)
The report provides insight into the business environment, the key participants in the sector, local construction demand, geographic diversification, competition within the sector, corporate activity, skills, safety, environmental considerations and the challenges...
Construction 2014: A review of South Africa's construction sector (PDF Report)
Construction data released during 2013 hints at a halt to the decline in the industry during the last few years, with some commentators averring that the industry could be poised for recovery. However, others have urged caution, noting that the prospects for a...
Electricity 2014: A Review of South Africa's Electricity Sector (PDF Report)
This report provides an overview of the state of electricity generation and transmission in South Africa and examines electricity planning, investment in generation capacity, electricity tariffs, the role of independent power producers and demand-focused initiatives,...
Defence 2013: A review of South Africa's defence industry (PDF Report)
Creamer Media’s 2013 Defence Report examines South Africa’s defence industry, with particular focus on the key players in the sector, the innovations that have come out of the defence sector, local and export demand, South Africa’s controversial...
Road and Rail 2013: A review of South Africa's road and rail infrastructure (PDF Report)
Creamer Media’s Road and Rail 2013 Report examines South Africa’s road and rail transport system, with particular focus on the size and state of the country’s road and rail network, the funding and maintenance of these respective networks, and the push to move...
Liquid Fuels 2013 (PDF Report)
Creamer Media’s 2013 Liquid Fuels report examines South Africa’s liquid fuels market, focusing on the business environment, oil and gas exploration, the country’s feedstock supplies, the development of South Africa’s biofuels industry, fuel pricing,...
This Week's Magazine
A structured approach, wherein managers personally engage at each level of the project, is necessary to mitigate delays to the workflow on mega construction projects, says State-owned Eskom Kusile power station projects GM Abram Masango. The 4 800 MW Kusile power...
Construction of transmission lines to evacuate power from a regional hydroelectric project in East Africa, which was hanging on the balance following the withdrawal of financing by key partners, is now back on track. After six months of uncertainty, the African...
Three Memorandums of Understanding (MoUs) were signed between South African and Malaysian companies at the Malaysian High Commission in Pretoria on Friday. These MoUs are part of the indirect offsets programme South Africa is providing in return for Malaysia’s...
The South African new vehicle market may well dip to 640 000 units in 2014, says Toyota South Africa Motors (TSAM) sales and marketing senior VP Calvyn Hamman. This is the first prediction that anticipates a drop in the market. To date economists and industry bodies...
Nissan will re-enter the South African minibus taxi industry in March, when the new NV350 Impendulo goes on sale. The 16-seater has been specifically tailored to meet the terms of government’s Taxi Recapitalisation Programme, which aims to replace South Africa’s...