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Economy

First black female to head multi-national oil industry – BP

First black female to head multi-national oil industry – BP

CAPE TOWN – BP Southern Africa (BPSA) announces the appointment of Priscillah Mabelane as its new CEO.

Mabelane will commence her new executive appointment on 1 September 2017, precisely six years after joining BPSA as Chief Financial Officer (CFO)

With over 20 years of service in a number of key leadership positions, BPSA contends that Priscillah brings a plethora of experience and expertise to her new role as CEO.

Mabelane recently served as Operations Director for BP’s UK retail business.

Here, she is ascribed with a strong safety record whilst delivering exceptional levels of financial performance.

Prior to joining BP, Priscillah held various executive roles in a number of large South African companies including Airports Company where she was the CFO, Ernst & Young where she was a tax director and Eskom Holdings Limited where she held various roles in finance, tax and general management.

Priscillah is hold a Bcom Honours in accounting and is a qualified chartered accountant.

“Given her proven track record in her previous executive roles, we are confident that Priscillah will be a strong leader for our business, especially as we continue to explore new areas of growth and development”, says BPSA Board Chairperson, Adv. Thandi Orleyn.

Priscillah’s appointment is in-line with two recent female senior executive appointments to the BPSA leadership team: Kelebogile Tseladimitlwa was appointed as Human Resources Director Southern Africa and Prinisha Khoosal was appointed Commercial Integration Manager, Southern Africa during 2016.

“Priscillah’s appointment reinforces BPSA’s pioneering role and strength of commitment to cultivating a diverse and inclusive workforce that will breed creativity and ensure we meet, even exceed customer expectations,” says Orleyn.

“In ending I would like to thank the outgoing CEO, Daniel Odogwu for his outstanding contribution to the organisation over the last three and a half years (Daniel started in January 2014 and the exact period is 3 years 8 months.). His commitment to the BPSA vision has led to important advancements for the business. We wish him well in his future endeavours”.

Sourced from IOL

Business confidence ticks up

Business confidence ticks up

Cape Town – The latest Business Confidence Index of the SA Chamber of Commerce and Industry (SACCI) recorded the highest level since February 2017.

SACCI said on Tuesday its July index shows that business confidence continues to regain lost ground after former minister of finance Pravin Gordhan was replaced at the end of March 2017.

“Business confidence, although still relatively low, remains sensitive to political and uncertain economic policy positions,” SACCI said in a statement.

At 95.3 in July 2017, the BCI was 0.7 of an index point below last year’s July level and 0.4 of an index point up on last month.

“Certainty about workable economic approaches could contribute to improve business confidence and especially investor confidence,” said SACCI.

“Deliberations on economic policy continue and some rogue statements by political role players on policy positions adversely affect investor and business confidence. These utterances, although popular, may not support a vibrant and prosperous economy. It creates expectations that a stalling economy will not be able to fulfil.”

Battling the recession should be at the forefront and noting the view of the credit rating agencies, in SACCI’s view.

It said locally there are indications that growth in the second quarter may be slightly positive.

“The inflation rate is slowing down. The exchange rate is unstable, but weak against the euro, the pound and the yen. The SA Reserve Bank (SARB) unexpectedly decided to lower the repo rate by 0.25 percentage points, implying that prime lenders pay 0.25 percentage points less interest. All these developments are contributing to an improved backdrop,” said SACCI.

“It is evident that South Africa could become more prosperous for all. There will be affluent and lower income groups that must propel this economy from junk status and the recession to make the country attractive. Perhaps the present more stable business confidence could inspire investor confidence in SA – here and abroad.”

Sourced from Fin24

Government pushes for sustainable co-operatives

Government pushes for sustainable co-operatives

Small Business Development Minister, Lindiwe Zulusays they will step up efforts to establish a co-operative bank.

Speaking at the belated International Co-operative Day celebration in Bloemfontein, Minister Zulu said the issue has been on government agenda for some time.

More than R330-million has been injected to co-operatives over the last financial period.

Zulu says despite the massive investment, more co-operatives remain unsustainable.

“The problem is the management of the co-operative, the problem is under the governance and the principles of co-operative and the last problem is about people thinking that they just have to depend on government at all times. Cooperatives have to be able to stand on their

Sourced From SABC News