The Reserve Bank and the National Treasury form the monetary authority in South Africa. The Bank has a significant degree of autonomy in terms of SA’s Constitution, although it holds regular consultations with the minister of finance.The Reserve Bank has a significant degree of autonomy in terms of South Africa’s Constitution. (Image: SARB, via Flickr)Brand South Africa reporterThe South African Reserve Bank (SARB) and the National Treasury (the Ministry of Finance) together constitute the monetary authority in South Africa.South Africa’s central bank was established in 1921 in terms of a special Act of Parliament.FunctionsThe primary object of the South African Reserve Bank is to protect the value of the currency in the interest of balanced and sustainable economic growth in the Republic.The SARB acts as the central bank for the country and its banking institutions, is co- responsible for formulating South Africa’s monetary policy, and is largely responsible for implementing this policy.The Reserve Bank has a significant degree of autonomy in terms of South Africa’s Constitution and performs its functions independently, although it holds regular consultations with the minister of finance.The SARB sees it as essential that South Africa has a growing economy based on the principles of a market system, private and social initiative, effective competition, and social fairness. It recognises the need to pursue balanced economic policies that enhance both development and growth.The Bank is managed by a board of 14 directors representing commerce, finance, industry and agriculture. Seven directors are elected by the Bank’s shareholders. The President of South Africa appoints the governor, three deputy governors and three other directors to the board.The SARB’s management, powers and functions are governed by the South African Reserve Bank Act of 1989.Monetary policyThe Reserve Bank implements South Africa’s monetary policy and regulates the supply (availability) of money by influencing its cost.Monetary policy is set by the Reserve Bank’s monetary policy committee, which works within a flexible inflation-targeting framework.The Bank undertakes national and international transactions on behalf of the state, and acts for the government in transactions with the International Monetary Fund.The Bank is the custodian of the greater part of South Africa’s gold and other foreign exchange reserves.SubsidiariesThe Reserve Bank controls the South African Mint Company, and issues banknotes printed by the South African Bank Note Company, a wholly owned subsidiary of the Bank.Find out moreVisit the Reserve Bank’s website, where you will find information on legislation, the bank’s mandate, monetary policy, inflation targeting and reserves management.Also see our article on South Africa’s National Treasury, or visit the National Treasury’s website.Reviewed: 28 January 2013Would you like to use this article in your publication or on your website? See Using Brand South Africa material.
For the second year running, telecommunications giant MTN leads the Brand Finance South Africa Top 50. The brand’s value has grown by 31%, largely as a result of the corporate’s accommodating and understanding local conditions before it sets up shop. Brand South Africa chief executive, Miller Matola, says the brands featured in the survey contribute to the image of the country.For the second year in a row, South African telecommunications giant, MTN, has been named the country’s top brand, beating out rival Vodacom, and energy producer Sasol. The announcement was made at the release of the Brand Finance South Africa Top 50 survey at Brand South Africa offices on Tuesday, 22 July.Brand Finance South Africa is part of the international Brand Finance group, which helps companies measure the value of, and manage, their brands.According to the survey, MTN’s brand value has grown by 31% over the last year thanks to its increasing international exposure. This is also due to how MTN conducts business in each country it enters: it collects knowledge of that country and respects its customs.The survey shows just how dominant MTN is in the corporate sector. It has widened the gap between itself and its competitors by posting a brand value of R56.3-million, over R30-million more than Sasol and Vodacom.Sasol had overtaken Vodacom to claim second spot this year after its value increased by 13%. This is largely thanks to ventures in 38 countries; including expansion into the US shale market in recent years, the launch of a R1.9-billion ethylene purification plant in Sasolburg, and the weaker rand.Investec made the most impressive leap this year, moving from 18th in 2013 to 9th this year. Its brand value increased by 67% and according to the survey, could rival South Africa’s big four banks in coming years.Chairman of Brand Finance Africa, Thebe Ikalafeng, said it is important to honour major brands such as MTN and Sasol as they help tell the South African story of a competitive nation and country with a great reputation.He added that the survey provides brands a benchmark they can use to drive their business and their strategy. “It helps to guide them and see how well they do competitively.”Thebe Ikalafeng of Brand Finance Africa says the brands selected in the survey help in telling the South African story.Ikalafeng said South African business is diverse and competitive across all sectors from telecommunications to retail. However, he said, South African brands should strive for excellence shown by European and American counterparts while emphasising its African roots. “Our distinction is who we are as Africans. It’s that colour, that diversity, that Africanness that only an African can define.”Brand South Africa chief executive, Miller Matola, said the companies featured in the top 50 are critical to building a nation’s brand. “A lot of them are pioneers. They have strong images in and outside of South Africa. In many ways these brands help build the brand of South Africa.”He also said that South Africa can increase its global competitiveness by using these enterprises to build sustainable growth and prosperity.Oliver Schmitz, managing director of Brand Finance South Africa, called on business leaders to follow Nelson Mandela’s example of leadership by putting people ahead of profits so as to ensure their own long-term successOliver Schmitz, managing director at Brand Finance South Africa, said more than 450 brands were analysed during the survey. They were assessed according to the International Organisation for Standardisation’s three requirements for brand evaluation; an intellectual property audit, a consumer behaviour review, and combining these for assessing financial performance.The evaluators used the royalty relief method, which estimates the likely future sales of a brand and the royalty rate that would be charged for the use of the brand.Schmitz said brand leaders need to look after the people around them if they are to ensure long-term success. “We need to play our part. A nation brand has a value and all brands have a value. And together we can give value to the consumers out there.”View the full list of South Africa’s Top 50 Brands
Advertisement Twitter Jenkins wants to make an indie drama titled “I am Superman” with Gosling, according to The Hollywood Reporter. The movie won’t be tied to DC’s cast of “Justice League” characters, but the movie’s tagline describes “a fighting pitbull finds itself on a strange and unexpected journey that will ultimately decide its fate.”Speaking of “Wonder Woman”, fans expecting an extended version of the movie may be disappointed. In an interview with Collider, Jenkins revealed the film had no deleted scenes. “You know, it’s not like a long journey didn’t happen but what amazes me is how little has actually changed from the first cut other than tightening,” the director said. Advertisement Login/Register With: Advertisement LEAVE A REPLY Cancel replyLog in to leave a comment Facebook Move over Henry Cavill, enter Ryan Gosling.“Wonder Woman” director Patty Jenkins and Canada’s wonder boy Ryan Gosling are teaming up for a Superman indie film! Jenkins earned audience approval for her work on “Wonder Woman” starring Gal Gadot and she already has her next superhero project in place.Warner Bros.
“Besides your podcast, what resources, including books and journals, do you recommend people read to build basic knowledge about the U.S. payer system?” “What is the likelihood that Congress will pass legislation to include full dental care in Medicare, say in the next 10 years?” “CMS collects an extraordinary amount of data from its various quality reporting programs. … What does the agency do with this data and is there any evidence quality reporting improves patient outcomes or achieves other policy aims?” “Do you have a view on whether Medicare paying less money for prescription drugs would lead to drug companies charging more to private insurers?” “There’s been a lot of back-and-forth lately between the National Institutes of Health, the Department of Health and Human Services and the media regarding fetal tissue research. HHS is currently doing a review, and the Trump administration just posted a ban to the NIH labs to stop procuring any new fetal tissue. This jeopardizes many research studies, especially those studying HIV. What do you think the long-term consequences of this will be?” Reviewed by Alina Shrourou, B.Sc. (Editor)Jan 3 2019 This week, KHN’s “What the Health?” panelists answered questions submitted by listeners.Among the topics covered were why Medicare doesn’t cover most dental care, how to address high drug prices and what federal officials do with all that data they collect from health care providers.This week’s panelists for KHN’s “What the Health?” are Julie Rovner of Kaiser Health News, Joanne Kenen of Politico, Stephanie Armour of The Wall Street Journal and Paige Winfield Cunningham of The Washington Post.The panel addressed questions including the following: To hear all our podcasts, click here.And subscribe to What the Health? on iTunes, Stitcher or Google Play. This article was reprinted from khn.org with permission from the Henry J. Kaiser Family Foundation. Kaiser Health News, an editorially independent news service, is a program of the Kaiser Family Foundation, a nonpartisan health care policy research organization unaffiliated with Kaiser Permanente.
Crisis experts say Facebook has mishandled the data scandal (Update) When then-BP chief Tony Hayward testified before Congress about the Deepwater Horizon oil spill in 2010, he denied involvement or knowledge of the problem in many cases. That’s a classic response designed to avoid legal trouble, but it didn’t make him sympathetic to viewers. Hayward lost his job about a month later.”He was clearly very well trained from lawyers, but it didn’t rest well with the American public,” said Richard Levick, founder and CEO of public-relations firm Levick. He said Zuckerberg needs advice from lobbyists and communications professionals, too.Helio Fred Garcia, who as president of Logos Consulting Group has prepped unnamed banking, pharmaceutical and other executives, said a CEO client of his went through a mock hearing in which someone said very harsh things to rattle him. He was shown video of his expression to make sure he wouldn’t replicate it in front of the Senate. The verdict? “He kept his job, so it went fine,” Garcia said. In this Thursday, Dec. 4, 2008, file photo, Ford CEO Alan Mulally, center, flanked by General Motors CEO Richard Wagoner, left, and Chrysler CEO Robert Nardelli, testifies on Capitol Hill in Washington, before a Senate Banking Committee hearing on the auto industry bailout. In 2008, the CEOs of the three big automakers flew private jets to Washington to ask Congress for federal bailout money. A public relations fiasco ensued. When the executives went back to Capitol Hill two weeks later for a second round of hearings, they traveled by car. (AP Photo/Gerald Herbert, File) In this Thursday, June 17, 2010, file photo, protesters stand behind BP CEO Tony Hayward as he arrives on Capitol Hill in Washington, to testify before the House Oversight and Investigations subcommittee hearing on the role of BP in the Deepwater Horizon Explosion and oil spill. When then-BP chief Tony Hayward testified before Congress about the Deepwater Horizon oil spill in 2010, he denied involvement or knowledge of the problem in many cases. That’s a classic response designed to avoid legal trouble, but it didn’t make him sympathetic to viewers. Hayward lost his job about a month later. (AP Photo/Haraz N. Ghanbari, File) ___TAKE YOUR LUMPSCEOs may be used to getting their own way, but they aren’t in control during hearings. Garcia said that can cause them “a great deal of distress.”Zuckerberg has to understand he’s a target and swallow his pride. His job isn’t to try to persuade the senators of anything, but to let senators express their anger.”This isn’t an educational forum,” Garcia said. “It’s a highly ritualized piece of theater.”___DON’T FEIGN IGNORANCE Citation: Zuckerberg’s congressional survival guide: Tips from experts (2018, April 1) retrieved 18 July 2019 from https://phys.org/news/2018-04-zuckerberg-congressional-survival-experts.html In this Tuesday, Sept. 20, 2016, file photo, Wells Fargo CEO John Stumpf testifies on Capitol Hill in Washington, before the Senate Banking Committee. When Stumpf testified on the bank’s creation of unauthorized accounts, he feigned ignorance about some details. He was roasted by senators for not acknowledging the extent of the problem and his responsibility of it. Stumpf stepped down weeks later. (AP Photo/Susan Walsh, File) Explore further In this Nov. 9, 2017, file photo, Facebook CEO Mark Zuckerberg meets with a group of entrepreneurs and innovators during a round-table discussion in St. Louis. As Zuckerberg prepares to testify before Congress over Facebook’s privacy fiasco, public-relations experts who have prepped CEOs before have plenty of advice on handling the hot seat. (AP Photo/Jeff Roberson, File) As Mark Zuckerberg prepares to testify before Congress over Facebook’s privacy fiasco, public-relations experts who have prepped CEOs before have plenty of advice on handling the hot seat. ___ARRIVE MODESTLYOne of the most infamous missteps happened before the CEOs even got in the door. In 2008, CEOs of the three big automakers flew private jets to Washington to ask Congress for federal bailout money. A public relations fiasco ensued.When the executives went back to Capitol Hill two weeks later for a second round of hearings, they traveled by car. When Wells Fargo CEO John Stumpf appeared before the Senate Banking Committee in 2016 on the bank’s creation of unauthorized accounts, he feigned ignorance about some details. He was roasted by senators for not acknowledging the extent of the problem and his responsibility of it. Sen. Elizabeth Warren, D-Mass., and other senators called for his firing; he stepped down weeks later.It’s crucial to take responsibility and come across as straightforward, said John Hellerman, founder of PR firm Hellerman Communications.At the same time, Zuckerberg can’t get too bogged down in technical explanations, Garcia said. A hearing puts the spotlight on leadership and accountability, not technical details. Garcia said Zuckerberg has to “speak in leadership terms: ‘This was a massive failure and I apologize.'”___SPIN IT FORWARDZuckerberg isn’t likely to lose his job over this, but a bad congressional appearance can have other consequences—mainly, the controversy staying in the news.So his goal will be to acknowledge anger and try to move on. He has to accept that regulation is likely, “so this is his chance to help shape and guide what that regulation might look like,” Hellerman said. Among them: Appear sympathetic and be ready for a beating. Take responsibility. Don’t feign ignorance. And keep in mind that this is more political theater than public policy. The so-called “optics” —how things look— are as important as what you say.The stakes are high: CEOs testifying in Washington have lost jobs, faced perjury investigations and otherwise endured public humiliation. It’s not comfortable for anyone in a position of power to essentially kowtow to Congress in a televised setting.”It’s an intense, grinding experience, draining psychologically and physically,” said Ronn Torossian, founder and CEO of the PR agency 5WPR.As with others who have coached CEOs in the past, he couldn’t name former clients because of confidentiality agreements. Torossian said appearing before Congress is “a very humbling experience for powerful people.” But Zuckerberg can learn from those who have gone before him.___PREPARE, PREPARE, PREPAREZuckerberg should spend days, if not weeks, familiarizing himself with the layout of the hearing room and with specific members of Congress, including the toughest questions they are likely to ask. The Facebook CEO has to appear willing to answer questions. © 2018 The Associated Press. All rights reserved. This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only.
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