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Ikigai: A word that transforms a life time of decisions

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By Tshepo Leroy Dube

Pronounced as (eee kee guy) .

Ikigai: A personal, process of finding your true purpose in life. The process of truly understanding what you are good at. What you truly love. How you feel when you are doing what you love. Knowing, how you start your day everyday affects/defines, how your day will look like for the next 24 hours. In a nutshell it is a journey of discovering your balance through stages and phases of your life.

Now there are four stages of this flow-state process, to identifying your ikigai.

  1. Doing things that you are good at
  2. Doing things that you love to do
  3. Doing what the world needs
  4. Doing what generates money

Now the trick is finding a balance between these four stages in order to find your true level of ikigai.

  • What you good at + what you love = passion
  • What you love + what the world needs = mission
  • What you can get paid for + what the world needs = vocation
  • What you’re good at + what you can be paid for = profession

Without all four of these in motion at the same time you have not reached ikigai. Another way to look at how it works, picture four pillars. These four pillars, hold your purpose of being up and keep it at balance. The moment you remove any one of the four, the entire flow-state crumbles. So ideas such as retiring become non existent because what you’re doing is so fulfilling. Therefore with each stage and step of your life you are able to adjust it into your circumstance and able to face any hurdle / obstacle, that is placed your way. You are never certain which curve ball life will throw at you, nevertheless your flow-state is prepared for such situations and this too can be said for ones business.

Finding ikigai is not something that comes lightly as it requires you to dig deep and do a little bit of soul searching, while grasping your strengths and weaknesses. Understanding that your past and future are filled with attainments of growth. When you’re at your bliss, to remember the lessons learnt on your bad days. When you’re dealing with bad days it is ideal to understand that good days are coming. You just have to be patient and understand that life is a balance of every emotion. The journey is finding a true balance within your chaos and success, this is the state of ikigai.

It is fairly easy to speak about successes but, it’s very difficult to talk about our failures. With ikigai flow-state you’re suppose to see the bigger picture in your flaws as much as in your successes that balance is what fore fills your fuel to keep doing what you’re doing when you see the right results. It is the process of taking care of you’re self physically mentally

About Us

The Northern Business Review is a business community newspaper that provides a platform for businesses to market their products and services, as well as build their brand, but equally important the publication provides information, advice and topics of interest, including business, entrepreneurial, economic reviews and simple ideas to grow your business. The publication has a primary objective to “uniquely” represent businesses to a wide audience across the community as well as provide a media platform of business articles and information that affect, influence and uplift the business environment within our defined geographical and cultural community.

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Collaboration in the business

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By Tshepo Leroy Dube

A picture from –What Is Collaboration and Where Does It (seapointcenter.com)

Collaboration in the Business Sector

The meaning of collaboration is to work jointly on an activity or project with the intention of reaching a certain goal. This is one important factor for business. Most start-up companies fear the idea of collaborating, because they fear the image of their business will be tarnished leading to their profits dropping. Most small businesses cringe at the thought of collaborating with a company trying to reach the same objective/s as them.  The fear of being out of business, fear of risk taking can sometimes be the downfall of your company. Such thoughts are a state i like to call “defensive mode”, where companies start to compete. Most reasons why some start-up companies don’t make it past five years is truly because the passion, vision and timing of why they started their business goes out the window when they try do everything alone, with hopes that no one takes claim of their success and so forth. Similar businesses start to look like threats so you compete and start to lose the reason why you started your business and what makes you different.

However collaborating with someone or a company to achieve the same goal, shortens the time frame of your goal being reached earlier. The reason being, it is no longer just you doing all the work. You are now able to trade with other people information and learn some of the things that you couldn’t have learnt alone and through this process, new projects are born for you to immerse yourself in. More valuable hours are put into your craft, with the help of a team that understands your mission. The approach of collaborating can be elementary if you ask very specific questions that have to do with you and your company. For example: what do I gain from working with them? How does my company benefit from this? How can we best work together? Why do I need to work with them? What value do I bring to the table oppose to the value I gain from collaborating?.

“What value do I bring to the table oppose to the value I gain from collaborating.”

To dissect this a little further, once you understand your value and the value of your company, it becomes easier for you to position yourself in places that make you understand what you have and lack (finding your niche). When you understand the strengths and weaknesses of your company. The process of projecting, what it will take for you to achieve or grow your company to its full potential, begins. The next step is then to position yourself with companies (networks) that have what you need. Which places you in a position to make collaborative decisions to benefit you and your collaborative partner/s. For example take a company that designs and manufactures tables for a living. The company may be doing well financially but until that company takes the approach to collaborate with a “chair company”, their sale may never grow as much as they want it to. The value of a chair company is the ability to now have a complete set to sell (table/desk & chair) from this you could split the profits and keep your individual profits from your original work separate. This makes each product viewed from collaborative aspect and individual aspect. The amount of time it would take you to start up and build a story line for your new chair line and “perfect it” to the desires of your clients, is shortened by collaborating. you not only get their experience from selling chairs. You have first-hand experience, their data base and  the time frame of getting your new products ready for market is far simpler as you both have the capabilities of making individual products on time then collaborative products should then be easier and faster to process.

You access their database to create a bigger database you both have a new target audience

Most of the time new companies who choose to compete find themselves losing the direction of where they originally wanted to take their business, because their vision is now blurred by wanting to be ahead of their competitors by seeing what they are doing and trying to produce a better product. By doing this you are not only closing your companies innovative potential you also tend to start forgetting about your clients needs and wants. You completely tarnish the reason why you started your company and everything starts to feel like a drag and your lack of passion starts to be seen by your staff and clients and that case your company starts to lose its value and next thing you know you have lost your company and your drive. When you could have avoided everything by looking at what your value is …and what you have to offer and how you plan to offer it without losing sight of why you started your business and why customers trust you.

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The Northern Business Review is a business community newspaper that provides a platform for businesses to market their products and services, as well as build their brand, but equally important the publication provides information, advice and topics of interest, including business, entrepreneurial, economic reviews and simple ideas to grow your business. The publication has a primary objective to “uniquely” represent businesses to a wide audience across the community as well as provide a media platform of business articles and information that affect, influence and uplift the business environment within our defined geographical and cultural community.

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Grey Matters – Putting the Grey Entrepreneur First

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September 2020 – Middle-aged professionals and entrepreneurs have consistently shown to form the economic engine of our country. Their capacity to drive economic growth by creating employment opportunities, generating consistent tax revenue, and being substantial consumers in their personal capacity is far greater than their younger counterparts.

In the wake of the COVID19 pandemic, The Grey Incubator is pioneering a new approach to help the economy recover by saving our biggest economic contributors, middle aged entrepreneurs. They develop more mature entrepreneurs, fondly known as grey entrepreneurs, referring both to their grey hair and the collection of grey matter in the brain and the knowledge it represents.

Not only do many grey entrepreneurs begin with more financial capital or an asset base to start their enterprise but the worldwide average age of a successful start-up owner is 47 years old. Showing an international trend towards successful entrepreneurs being consistently middle-aged.

Their experience, skills, networks, and assets represent an incalculable value that grey entrepreneurs have generated through years of working. Not to mention that they have often faced stress, and failure before, making them more resilient.

After noticing that entrepreneurs between the ages of 30 and 60 have been overlooked and ignored by most entrepreneurship programs, founders Willem Gous and Eugene Beetge began using their 50 years of joint experience to enable these grey entrepreneurs to start and build their ideas into a business with minimal risk.

The Grey Incubator combines expert consultants in entrepreneurship, with a business community of Grey entrepreneurs to facilitates the learning process at all entrepreneurial levels.

“Although the internet provides abundant access to information, courses, and training, it lacks cohesion,” says co-founder of The Grey Incubator and entrepreneurial expert Eugene Beetge. “Information is organized into small isolated silos with little to no knowledge sharing on how the components required to run a successful business come together. Learning how to be an entrepreneur using all these isolated bits of information, is possible but it is an inefficient and time-consuming journey.”

Beetge believes that to be a successful entrepreneur you need a roadmap, guidance, vision, motivation, support, and skill.

“Combine these elements with accountability, sound boarding and masterminding, and it is possible to avoid big financial risks,” he says.

For the grey entrepreneur, a start-up often requires risking their last available capital, and guidance from conception to fruition in the current economic environment can be invaluable in preventing failure.

The Grey Incubator program pairs small, carefully curated groups of individuals into cooperative teams that work together with experienced overseers and mentors to help develop their businesses and ideas. These groups are guided to make sure they stay on track while helping them avoid costly mistakes. As each group progresses and achieves their weekly goals, third party specialists are made available to help groups go through the natural growth phases of a start-up.

The Grey Incubator uses a subscription-based model that allows start-up founders to invest in themselves and their business without long term commitment thereby reducing their financial risk.

Although many mature professionals’ livelihoods have been disrupted by the COVID 19 pandemic, learning how to start and grow a successful business in your middle age can be an invigorating experience.

Like any first venture into entrepreneurship, it can be overwhelming, risky, and costly without the correct guidance. By creating a business community in which older entrepreneurs are surrounded by like-minded peers and can be guided by experienced mentors, The Grey Incubator is investing in our economy, inspiring people to rediscover their dreams, and providing a path for them to rebuild their lives.

ENDS

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The Northern Business Review is a business community newspaper that provides a platform for businesses to market their products and services, as well as build their brand, but equally important the publication provides information, advice and topics of interest, including business, entrepreneurial, economic reviews and simple ideas to grow your business. The publication has a primary objective to “uniquely” represent businesses to a wide audience across the community as well as provide a media platform of business articles and information that affect, influence and uplift the business environment within our defined geographical and cultural community.

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It’s the fear of failure that destroys innovation in small businesses

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Innovation is the development and application of ideas that improve the way things are done or what can be achieved. Innovation can help your business grow by improving productivity and efficiency. Your ability to innovate will also help your business to remain competitive and respond to changes.

“Being innovative takes a lot of hard work and a little bit of risk. But, if you want to thrive and stay ahead of the game, it’s an essential part of being a business owner”, Mike Anderson: NSBC Founder and CEO

There are many sources you can use to help generate new ideas for your business. Suppliers, customers, employees, and strategic alliances can all make valuable contributions to the creative process, as well as providing support and encouragement.

“Your employees are a vital asset in generating innovative ideas. To get the most from them, you need to create an innovative environment and encourage creative thinking. Most ideas never get off the ground because business owners are afraid to take a risk and fail, and employees are not permitted to try new things and take some risk. Those who have achieved real success have overcome the fear of failure and often risked the most to get there.”, says Anderson.

To succeed, you have to move out of your comfort zone, continuously challenge the status quo and innovate. Always be on the lookout for new ideas and new ways of doing things that will improve your business. Do things differently, walk on the wrong side of the road, swim upstream, and always keep looking for the next big thing.

Winners always look at the bigger picture while losers cannot go beyond the way things are at the time. If it doesn’t work you can always go back to the drawing board. This is far better than not trying and doing things differently.

John Maxwell asks why so many people work so hard without ever achieving or making an impact, while fewer who don’t seem to work hard achieve so much. The reason is simple – it is because of conformity. Research has shown that only five percent of the people in the world are able to achieve their life goals. Why? Because the remaining ninety-five percent are blind conformists who go through life accepting the way things are. Doing things differently is the most powerful key to success.

You also need to listen to Albert Einstein who said, ‘Doing things the way we have always done them and expecting different results is one of the definitions of insanity.’ If you want to experience a change, you must do things differently. Stop following the crowd and you can be among the top five percent.

“If you want to live an impactful life, you must break the mould. Stop being a blind conformist who just keeps to tradition. Challenging the status quo gives you the seeds of vision and opportunity. There are always better ways of doing things. Strive to be the one who will discover the better way. When you do this, windows of opportunity and abundant wealth will open widely for you”, concludes Anderson.

Here are 10 success-boosting innovative tips for your business:

  • Get your team on-board. Have them involved in the entire innovation process, such as solving problems during a meeting and providing a suggestion box. Reward innovation and celebrate success. Appropriate incentives can play a significant role in encouraging staff to think creatively.
  • Make innovation a routine. Schedule an hour or so each week to brainstorm and exercise you and your team’s creativity, and establish goals that encourage you to improve your business. 
  • Encourage suggestions. Ask or survey your employees, customers, and even, suppliers if they have any suggestions on how you can improve your business.
  • Create a supportive atmosphere in which people feel free to express their ideas without the risk of criticism.
  • Encourage risk-taking and experimentation – don’t penalise people who try new ideas that fail. Remember, fear destroys innovation.
  • Stress that people at all levels of the business share responsibility for innovation, so everybody feels involved in taking the business forward. The fewer the layers of decision-making in your business, the more people feel their ideas matter.
  • Look for imagination and creativity when recruiting new employees. Remember that innovative thinkers aren’t always those with the most impressive list of qualifications.
  • You don’t have to reinvent the wheel. Keep innovation simple by improving your existing products or services, trying out a new marketing strategy, or finding a supplier that is offering you a better rate.
  • Invest in innovation. Purchase technology and equipment that can improve your business operations. Also, invest in developing new products and services
  • Educate yourself. Continue to learn new skills or information by attending workshops, webinars, conferences, local industry events, and reading everything from blog posts to books.

‘Here’s to the crazy ones. The misfits. The rebels. The troublemakers. The round pegs in the square holes. The ones who see things differently. They’re not fond of rules. And they have no respect for the status quo. You can quote them, disagree with them, glorify or vilify them. About the only thing you can’t do is ignore them. Because they change things. They push the human race forward. And while some may see them as the crazy ones, we see genius. Because the people who are crazy enough to think they can change the world, are the ones who do’. – Steve Jobs

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The Northern Business Review is a business community newspaper that provides a platform for businesses to market their products and services, as well as build their brand, but equally important the publication provides information, advice and topics of interest, including business, entrepreneurial, economic reviews and simple ideas to grow your business. The publication has a primary objective to “uniquely” represent businesses to a wide audience across the community as well as provide a media platform of business articles and information that affect, influence and uplift the business environment within our defined geographical and cultural community.

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Paper industry encourages people to continue recycling amid challenging times

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“Getting Big Business South Africa and Government to pay their small business suppliers on time is one of the biggest challenges facing small businesses and when the problem persists too long, it can ultimately shut down a small business. More than ever before, now is the time to ensure that all your small business suppliers are paid quickly. We are urging Big Business South Africa and Government to release these all important payments now”, That’s the urgent plea from Mike Anderson: NSBC Founder & CEO.


COVID-19 and the economic downturn has and will continue to have a devastating  impact on small businesses throughout South Africa. Small businesses need to pay their workers, their rent, suppliers and other key operating expenses, and survive as a family. What they don’t need right now, or at any time in fact, is that additional burden of not receiving payment on outstanding invoices. We have limited control over how long the pandemic will disrupt our nation, but we are in control how quickly we can pay our small business suppliers , says Anderson.


For any business, the amount of money flowing in or out is critical to its success. When money is tight, paying basic bills can get challenging. But when cash is plentiful, a business can invest in its future by expanding, buying new equipment, hiring key staff or retaining key staff by rewarding them further.  


Anderson continues, through the Prompt Payment Code, a National Small Business Chamber (NSBC) initiative, the NSBC is challenging the way small businesses are being paid. We are championing the importance of big business and Government paying small business suppliers within 30 days or much quicker. It’s a highly recognised process where Business South Africa and Government openly commit to paying small businesses on time.


The findings of the recent COVID-19 National Small Business Survey clearly indicates that late payments are at an all-time high as small businesses are waiting too long to get paid. The average amount owed to each small business is now at its highest level. Big Business and Government are mainly to blame for small businesses waiting for payment. More than half of all small businesses in South Africa are burdened with late payments. The result is that small businesses are going out of business due to late payments.


Intentional late or non-payment is totally unacceptable, says Anderson, as in most cases when a small business goes out of business a family goes out of business. Procurement policies urgently need to be changed to accommodate for early payments. Late payments to small businesses coupled with the current crisis and the economic downturn spells out disaster for many small businesses, the mainstay of our economy, the very engine of our society and the future of job creation.


We see small businesses going out of business every day, in many cases due to cash flow as a result of late or non-payment. Prompt payment is vital to the cash flow of every business, and especially to smaller businesses. The Prompt Payment Code is about encouraging and promoting best practice between government, larger organisations and their small business suppliers.


“We all have a collective responsibility to do whatever we can to keep small businesses in business and their workers employed. By paying small businesses quickly, this is the most meaningful step in the right direction


Media contact:
Twané Gouws
Email: twane@nsbc.africa
Website: www.nsbc.africa
Cell:  084 603 1763

Keep recycling, urges RecyclePaperZA JOHANNESBURG – February 17, 2020 – More than 12 million tonnes of paper and paper packaging have been recovered for recycling in South Africa over the past decade. This, according to RecyclePaperZA, the country’s paper recycling association, has ensured that waste paper is diverted from landfill and recycled into new products – tissue products, newsprint and paper packaging for the agricultural, manufacturing and retail sectors. In 2018, South Africa collected 71.7% of recoverable paper and packaging*, amounting to 1,285 million tonnes. “South Africa is in the enviable position of being able to use up to 90% of its recovered waste paper locally by recycling it into new paper, packaging and tissue,” says Anele Sololo, general manager of RecyclePaperZA. The balance of waste paper is exported.A difficult time for paper industry, but don’t stop recyclingCurrently, the global paper recycling industry is faced with over-supply. “This means there is more waste paper available than there is use for it,” says Sololo. There are various economic factors at play, not least of which is China’s stricter requirement for cleaner waste imports since 2017. This means that around 30 million tonnes of waste paper from around the world needs to find a new home and use. In South Africa, the severe drought in fruit-growing regions has had a knock-on effect for the paper packaging sector. “Corrugators produce less boxes for fruit with the result being that mills produce less paper which affects waste paper consumption rates,” explains Sololo.“It is important to understand that collectors are paid for the recyclables they collect, and the higher the value of that recyclable, the more likely they are to collect it,” says Sololo. The lower demand in the market will effect a price drop as mills need to ensure they remain commercially viable, and unfortunately this affects recycling collectors and traders.The South African paper industry is however investing in research and development of alternative uses for recycled paper to ensure that recyclable paper and paperboard continues to be diverted from landfill and help improve demand for recycled paper fibre. Different recycled paper products need different ingredientsOn the home front, some citizens may be a little confused about why some types of paper – such as newspapers – are not wanted by collectors. Just as chocolate cakes may differ slightly in terms of their ingredients, so too does paper. Printing paper, tissue, cardboard boxes, paper bags and sacks all require different types and quantities of raw materials. “The difference in paper recipes may even be customer-specific which makes papermaking an exact science,” says Sololo.Historically newspapers were required as a raw material for newsprint manufacturing. The declining newspaper consumption, largely due to online media, has resulted in the closure of newsprint machines in South Africa, leaving only one operational newsprint machine. “In 2011, South Africa produced 316,725 tonnes of newsprint,” says Sololo, adding that in 2018, the annual newsprint production was less than half the 2011 figure at 113,912 tonnes. This in turn has reduced the demand for used newspapers by paper mills. Newspapers are still used in the manufacture of moulded fibre products such as egg cartons, takeaway cup holders and fruit trays. “This is where brand owners and retailers can help make a difference – by moving from plastic to paper for their packaging,” notes Sololo. A classic example are polystyrene vegetable and fruit trays – these can be made effectively from paper pulp.Some grades of paper are in higher demand than others. As an example, there is more use for white paper as it require less deinking and cleaning than newspapers and magazines. White paper also contains better quality fibres for “paper recipes”. What are the various types of paper recycled into?White office paper is made from certified, sustainably produced virgin wood fibre, especially if it is made in South Africa. White paper, which contains good quality fibre, is recycled into tissue products and is also added to the other paper recipes. Brown cardboard boxes are repulped into new cardboard boxes and brown kraft paper which in turn can also will be converted into sacks and bags.Liquid packaging board (beverage cartons and paper cups) comprises long, strong virgin fibre, also from sustainably managed forests, which is a great ingredient for paper products that require strength. The plastic and foil layers in liquid packaging board are separated from the paper in the recycling process and can be used in a range of applications such as plastic garden furniture.Common or mixed paper and cardboard packaging (cereal and dry food cartons, coloured paper, magazines, toilet roll cores) are classifed by the industry as “common mixed waste”. These go into recipes for various paper products even tissue – if the mill has a deinking plant. What should we do with “old news”?Fortunately newspaper is very versatile and can be used for many things. Here are our top five but you can find a more comprehensive list on www.recyclepaper.co.za. Animal shelters – donate your old newspapers to animal shelters who will use them to line the kennels and catteries. Compost and worm farms – earthworms love a tasty snack of newspaper. Add dampened, shredded newspaper to your compost heap or worm farm. Fruit and vegetable drawer liners – place sheets of newspaper at the bottom of the fruit and vegetable drawer in your fridge. They will absorb any mess from rotten produce, and will also keep the drawer free from odours. Gift wrap – use newspaper to wrap gifts and decorate with some string and sprig of rosemary or lavender. Table padding – lay newspaper underneath a table cloth. It’s an excellent replacement for expensive padding, and will help protect your table from spills and other damage.Where should I take my paper recyclingIn November last year, Mpact Recycling, a RecyclePaperZA member, announced the discontinuation of its kerbside collection programme. While we recognise that this causes inconvenience to a number of its loyal supporters, there are other options available:Visit www.recyclepaper.co.za – Check out our “Where to recycle” page for some useful links.Support your neighborhood recycling collectors – find out what they collect and put this in a separate bag for them. You may opt to support the same person each week or simply put a bag out on your pavement on a first come, first serve basis.Support a school or community centre under the Mpact Recycling paper bank programme. The company is in the process of upgrading some of its sites so separation is key: white paper in one bag, cardboard in one bag, beverage cartons in one bag, cereal boxes, coloured paper and where applicable magazines in one bag. Look for your nearest paper bank here. Support recycling collection businesses which offer a paid service. Do a web search for “recycling collection services” for your area.Explore your local shopping centre and find out if they have a recycling zone.So keep up with those recycling efforts! And keep your paper clean and dry, and separate from other waste. * Recoverable paper excludes paper which is unrecoverable or unsuitable for recycling. For example, toilet tissue and sanitary products, cigarette paper and archive material.

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The Northern Business Review is a business community newspaper that provides a platform for businesses to market their products and services, as well as build their brand, but equally important the publication provides information, advice and topics of interest, including business, entrepreneurial, economic reviews and simple ideas to grow your business. The publication has a primary objective to “uniquely” represent businesses to a wide audience across the community as well as provide a media platform of business articles and information that affect, influence and uplift the business environment within our defined geographical and cultural community.

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Understanding your credit report: the 8 most-asked questions

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Jeannine Naudé Viljoen, General Counsel at TransUnion

Johannesburg – If you’re not reading your free credit report, you could be putting your financial health at risk. But you’re not alone: according to the Credit Bureau Association, only 188 000 South Africans access their credit report every year – out of a total of 25 million credit-active consumers.

Regularly reviewing your credit report should be at the top of the list of your personal financial habits. It can tell you the state of your financial background, your personal payment history, and your creditworthiness. It even flags identity theft and consumer fraud. But to benefit from reviewing a credit report, you have to not only read and understand it, but know how to use the information it contains to your advantage.

What is a credit report?

A credit report is a record of your credit history and payment behaviour that is maintained by credit bureaus, such as TransUnion. It reflects a 24-month view on your account history and payment behaviour. It contains both positive and negative information about how you manage your credit. Your report details:

  • Personal information: Your name, ID, address, marital status, employment information and contact details.
  • Account information: A list of every bank and business that’s lent you money; your credit limits, loan amounts and how you are managing them in terms of payment.
  • Current financial information: Your level of debt, and how many times you’ve applied for credit recently.
  • Enquiries: Who has viewed your credit profile and for what purpose.
  • Negative information: Accounts where you have made late payment or no payment at all, court judgment and notices to name a few.

How does it get created?

Every month, lenders send information on your credit and loan history, and your payment record, to credit reporting companies like TransUnion. This information is then analysed to create your credit report.

What’s the difference between a credit report and a credit score?

Excellent question. Your credit score is formulated from the information contained in your credit report.

  • A credit report is a document that contains information about your financial history, and payment behaviour which could be both good and bad.
  • A credit score is a three-digit number provides a snapshot, is one of the factors that helps lenders evaluate how safe or risky you are as a customer. Remember, each lender will have their own criteria on how to assess your risk for your credit application.

Why is it important to have a good credit score?

Having a high credit score might help you to get a lower interest rate on credit products such as a house or vehicle loan. A credit report with negative listings such as defaults and judgments; as well as too many enquiries for loans or credit over a short period of time could result in a low credit score, which means you may pay a higher interest rate, or even be denied credit.

What affects my credit score?

The biggest influence on your credit score is your account payment history – that is, how you manage your accounts and whether you pay your accounts on time. Focus on paying the full instalment of every bill on time, so you’re offsetting past negatives with more recent positives. It also helps to maintain a healthy mix of credit – store accounts, credit cards, home loan, and service contracts such as cell phone accounts – to establish a good credit history.

Who views my credit report, and why?

When you apply for credit – like a home loan, a car loan, a new credit card, a clothing store account or a new cellphone contract – banks and lenders will access your credit report as one of the factors to assess if you’re suitable for credit. Other companies that may view your profile include insurance companies, landlords and even employers. But they need to get your permission first.

How do I access my credit report?

Good news: your credit reports are easy to obtain. You can download your Credit Report once every 12 months for free from TransUnion and other credit bureaus in the country.

Who do I speak to if I want to dispute items listed on my credit report?

Often, consumers have errors on their credit reports that affect their credit scores. Request your report and check for mistakes, such as payments marked late when you paid on time or negative information that’s out of date. If you see errors or discrepancies, you can contact either TransUnion on 0861 482 482 or the credit bureau you got your credit report from to lodge a dispute. Provide as much supporting documentation as possible, like receipts or evidence of payment. TransUnion will investigate and respond within the legislated 20 working day period.

What are you waiting for, download your Free TransUnion Credit Report today!

Editorial Contact:

ByDesign Communications

Motlotlo Mosiuoa

Tel: 010 593 4509

m.mosiuoa@bdcomms.co.za 9

About Us

The Northern Business Review is a business community newspaper that provides a platform for businesses to market their products and services, as well as build their brand, but equally important the publication provides information, advice and topics of interest, including business, entrepreneurial, economic reviews and simple ideas to grow your business. The publication has a primary objective to “uniquely” represent businesses to a wide audience across the community as well as provide a media platform of business articles and information that affect, influence and uplift the business environment within our defined geographical and cultural community.

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CredoLab jumpstarts financial inclusion in SA using smartphone data

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Tuesday 1 October 2019 – Johannesburg: Alternative credit scoring fintech company, CredoLab, has officially launched on the African continent with the signing of three new clients – two banks and a leading airtime credit provider.

  • Michel Massain, Sales Director for Europe and Africa at CredoLab

Starting from South Africa, CredoLab is seeking to drive financial inclusion in emerging economies on the African continent by credit scoring more people, especially those who are new to bank and new to credit.

CredoLab announced that it has signed up one of the large banks and one of the new digital banks and is in negotiations with other large financial institutions, credit bureaus, and consumer lenders in South Africa.

Michel Massain, Sales Director for Europe and Africa at CredoLab says, “South Africa is a country desperately in need of ways to help more people access financial products and participate in the economy. It is estimated that about 76% of the Sub-Saharan African population has a need for credit but cannot access it, as they are excluded from the traditional banking sector.   

“You need a credit score to participate in the economy, but what about people who are new to credit and new to bank? How do they get a credit score? How can someone with no credit history get a credit score? And how can they start a business if they can’t lend money to do so?” asks Massain.

  • Peter Barcak CEO and Co-Founder of CredoLab

Many people in South Africa remain neglected by the mainstream financial sector and are invisible to lenders because of a lack of data for risk assessment. Existing options for the underbanked are limited, traditional credit scoring is inadequate, and as a result, many turn to informal money lending with excessive interest.

Says Massain, “CredoLab was launched in 2016 in Singapore with the goal of solving one problem: the lack of instruments available to assess the credit worthiness of nearly two billion consumers globally.

“By harnessing the power of Artificial Intelligence applied to smartphone data, we enable financial institutions to grow by reaching new segments that they weren’t able to access through traditional systems, at a lower cost of risk, based on real time decisions.”

CredoLab collects more than 50 000 data points from a customer’s smart phone through a state-of-the-art propriety mobile technology, and turns them into more than 500 thousand behavioural features. Their collection process is always consensual and permissioned. The collected data is anonymised, securely stored within the country, and never shared with third parties. All digital scorecards are customised for clients, whose requirements, risk appetite and credit scoring thresholds are unique.

This use of non-traditional data and predictive analytics for credit scoring enables lenders to expand their pool of borrowers while keeping risks under control.

“Millennials, new graduates, self-employed and other thin credit history customers increasingly try to access credit, but to no avail. Here, digital scorecards help provide predictive insights into borrower behaviour, thereby redefining credit-decisioning,” adds Massain. 

Commenting on their vision for the country, CEO and Co-Founder of CredoLab, Peter Barcak says, “We are excited about our launch into South Africa, which is our gateway to the African continent where too many people remain locked outside of the mainstream economy because they do not have the credit history in the traditional sense to participate in it.”

With plans to expand further into other countries on the continent, Barcak adds, “Our hope is that CredoLab will help to remove a key barrier to entry in South Africa and complement traditional credit scoring systems with the power of behavioural data.”

In just three years, CredoLab has mushroomed to become an award-winning business delivering better credit decisions to 51 clients in 15 countries. It has powered almost USD 1-billion in loans issued after analysing about 1 trillion data points. Making granular credit assessments possible, their clients have seen results like 20% higher new to bank customer approvals, a 15% reduction in non-performing loans, and a 22% dip in fraud rate.

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The Northern Business Review is a business community newspaper that provides a platform for businesses to market their products and services, as well as build their brand, but equally important the publication provides information, advice and topics of interest, including business, entrepreneurial, economic reviews and simple ideas to grow your business. The publication has a primary objective to “uniquely” represent businesses to a wide audience across the community as well as provide a media platform of business articles and information that affect, influence and uplift the business environment within our defined geographical and cultural community.

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Government leaders throw weight behind Durban ICC Leadership

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Leaders in government have lauded the Durban International Convention Centre’s efforts aimed at empowering leaders through hosting the landmark Durban ICC Leadership Summit taking place on 19 September 2019, featuring accomplished business leader and internationally acclaimed speaker Bishop TD Jakes.

The Leadership Summit is a platform where thought leaders will engage in a strategic dialogue about pressing leadership issues in South Africa. 

Bishop TD Jakes is the Keynote Speaker for the Summit and will also be imparting his business knowledge during a Masterclass session themed: “Principles to succeed in business”, in which he will discuss developing business leaders, entrepreneurship, developing successful businesses and building sustainable enterprises.

Leader of Government Business, Nomusa Dube-Ncube, who is also the MEC for Economic Development, Tourism and Environmental Affairs in KwaZulu-Natal has pledged her support for this event, which promises to be a thought-provoking Summit.

Other prominent speakers who will be engaging on various topics include Bishop Vusi Dube, Apostle Collins Dhlomo, Vivian Reddy, Pastor Phil Dooley, Dr Basil Tryon, Ms Zanele Mbokazi, Bishop Mosa Sono, Ms Nomusa Dhlomo and Dr Allen Joseph.

During the Summit Speakers will be discussing topics such as ethical leadership, transgenerational leadership, women in leadership, progressive leadership, and leading in difficult times.

Dube-Ncube who is passionate about women empowerment said she has always held the view that the economic well-being of a society cannot be achieved if women are massively underprivileged, particularly in the employment sector, compared to their male counterparts. 

She also believes that an economy cannot remain healthy without utilising the contributions and skills of women in different economic activities whether it’s education, health, engineering, construction, information technology, maritime, mining or automotive industry.
 
“It is for these reasons as the provincial government we are championing women empowerment programmes. The governing party in this province, has made significant progress in political representation of women in decision making, particularly at the provincial and local tier of government,” she said.

Dube-Ncube said there are different sectors of the economy that government has identified to drive radical economic transformation for the benefit of women across the province.  These sectors include manufacturing, tourism, automotive, mining, maritime as well as clothing and textile.

“We are serious about empowering women to get into these sectors of the economy. We commit to work with all government departments and municipalities to make it possible for women. The key issues that we need to discuss include how to speed up economic empowerment and skills development initiatives for women especially those in rural areas,” Dube-Ncube added.

EThekwini Mayor Mxolisi Kaunda said he was pleased that EThekwini will host this Leadership Summit which will be instrumental in building both our business and community leaders in general to be better leaders. 

“This Summit could not have come at a better time when the country is repositioning itself to grow our economy. I have no doubt that the knowledge that will be imparted in this Summit by internationally acclaimed speaker and businessman Bishop TD Jakes will assist in addressing some of the challenges facing our country such as unemployment, poverty and inequality,” said Kaunda.

The one-day Summit will take place from 9am to 4pm. Tickets for the event are available through Computicket and package prices range from R500 to R5900 per person, and R6900 for the Masterclass ticket.

For more information about the Durban ICC Leadership Summit visit https://icc.co.za/event/durban-icc-leadership-summit-2019/<Image: It’ s all systems go for the inaugural Durban ICC Leadership Summit featuring Bishop TD Jakes including a host of other prominent leaders. This Summit taking place on 19 September 2019 promises to be a powerful interaction between pastors and business leaders.>


Issued by: The Inkosi Albert Luthuli International Convention Centre (Durban ICC)
For more information contact: Durban ICC Corporate Affairs Manager
Gugu Sisilana, Tel: 031 360 1302 or Email: GuguSisilana@icc.co.za
 

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The Northern Business Review is a business community newspaper that provides a platform for businesses to market their products and services, as well as build their brand, but equally important the publication provides information, advice and topics of interest, including business, entrepreneurial, economic reviews and simple ideas to grow your business. The publication has a primary objective to “uniquely” represent businesses to a wide audience across the community as well as provide a media platform of business articles and information that affect, influence and uplift the business environment within our defined geographical and cultural community.

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Tatami Tallies 53 Medals at SA Judo Championships

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It
was an action packed week at the 2019 SA Judo Championships hosted by Sedibeng
at the Emerald Casino Resort from the 30th June to the 4th
of July.   The National Championships are held annually by Judo SA and
qualified judoka compete in their respective age and weight categories as
representatives of their provinces.

The
martial art known as the “gentle way” in Japanese is currently enjoying massive
growth in South Africa.  In addition to the
elite South African jukoda, this year the event included a section for novices.
The country’s premier judo event also attracted athletes from Angola, Botswana,
Congo, Mozambique, Namibia, USA and Zimbabwe with a total of 1400 competitors
competing for top honors during the week long competition where skill, strength
fitness, honour, respect and dignity were put to the test.

The
local Tatami Judo club based in Bryanston, lead by Sensei Basil Smith and representing
the Joburg Judo District, brought home a total of 53 medals from 39 athletes during
the week-long competition: 20 gold, 12 silver and 7 bronze. These medals were
achieved in the individual, team and kata events.

Tatami
judoka attend various schools in the area including; Beaulieu Preparatory,
Bryanston Primary, Bryanston High, German School, St Davids, Cooper College,
Kings, Bryanston Parallel, Dainfern, Parktown Boys, Curro Aurora and Bryneven
Primary.

Outstanding
achievements in winning gold medals and being crowned SA champion for 2019 in
their age and weight categories for advanced Judoka were: Thomas Baumann
(German School), James Hulett (St Davids), Cameron Jardim (Bryneven), Kendra de
Beer (Cooper College), Meegan Zomero (Bryneven) and Reinier Van der Bout. 

“The Tatami
Judo athletes shone this year with some fantastic performances and achievements
on the national stage.  The techniques
practiced and perfected over years of dedication and training were on display,
which is obviously very rewarding for me as their Sensei. Performing so well
under pressure is also testament to fitness, discipline and fortitude which is
what the sport is all about too.” said Basil Smith

According
to Smith “Judo is an ideal sport for both boys and girls of all ages. It
enhances the body’s core stability and strength.  Footwork and co-ordination learned here complement
the training for other sporting activities. In addition to physical fitness,
Judo boosts self-confidence, develops discipline, manners, punctuality,
strength, stamina, perseverance, tenacity, toughness and character – all great
preparation for life’s many challenges.”

Judo
is practiced by more than 20 million individuals. Not only is it the world’s
most popular combat sport, but in terms of sheer numbers, it is the second most
popular of all sports after soccer. In
1964, Judo was the first of the martial arts to be included as a medal sport in
the Olympic Games.

Tatami Judo Club was started by Sensei Basil Smith in 2007 and trains on Monday and Wednesday evenings at Bryanston Primary School.  For further information please email tatamijudo1@gmail.com.

 

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The Northern Business Review is a business community newspaper that provides a platform for businesses to market their products and services, as well as build their brand, but equally important the publication provides information, advice and topics of interest, including business, entrepreneurial, economic reviews and simple ideas to grow your business. The publication has a primary objective to “uniquely” represent businesses to a wide audience across the community as well as provide a media platform of business articles and information that affect, influence and uplift the business environment within our defined geographical and cultural community.

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Slow down with Joburg’s newest artisanal market

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Cedar Square launches new Slow Market with a wide variety of stalls and entertainment for everyone

Markets and fairs are enjoying a growing wave of popularity as must-visit lifestyle destinations that feature organic foods, on-trend artisanal products, and a unique community spirit.

The artisanal hand-made ‘vibe’ has always been a counterpoint to mall culture, but South Africans have turned that trend on its head, with malls inviting markets in as ‘pop-up’ tenants – going even further in their quest to provide shoppers with all the resources they need.

The new Slow Market at Cedar Square in Fourways, welcoming more than 40 stall-holders each Saturday from 9h00 until 15h00, catering to the community which is increasingly looking for healthy, sustainable and authentic experiences.

Stalls include artisanal cheeses, delicious baked goods, pure honey, handmade leather goods and handsewn clothing, as well as art, crocheted toys and jewellery, among others.

The product range has been carefully curated to ensure that there are no mass-manufactured or poor-quality goods for sale, with each vendor committing to the ethos of ‘slow’, i.e. prepared by hand, using high-quality locally sourced ingredients or materials.

The stallholder mix has been designed to complement the products and services offered in Cedar Square, giving visitors to the centre the best of both worlds: the uniqueness of artisanal produce and goods, and the range of premium products and services expected in an upmarket retail setting.

“Participating in Cedar Square’s Slow Market is the ultimate opportunity for local makers and smaller brands to cultivate real connections with customers,” says Zoe van Onselen, Head of Marketing at Accelerate Property Fund, the centre’s owner. “It’s a great launch platform for new businesses, giving them the opportunity to engage directly with customers. The market is also a manageable and affordable way for entrepreneurs to showcase their products in more of a ‘pop-up’ context in a premium environment, rather than investing in a full-scale brick-and-mortar location. ”

The Cedar Square Slow Market is more than a regular market experience – regular live music performances add to the spirit and excitement of each morning, while scattered seating and tables offer comfortable resting areas for shoppers to take a break and enjoy a snack or craft drink.

Visit the Slow Market at Cedar Square every Saturday from 9h00 to 15h00. Vendors accept cards or cash, and visitors are encouraged to bring their own reusable shopping bags. For more information and a list of vendors, please contact Jacqui van den Berg.

About Us

The Northern Business Review is a business community newspaper that provides a platform for businesses to market their products and services, as well as build their brand, but equally important the publication provides information, advice and topics of interest, including business, entrepreneurial, economic reviews and simple ideas to grow your business. The publication has a primary objective to “uniquely” represent businesses to a wide audience across the community as well as provide a media platform of business articles and information that affect, influence and uplift the business environment within our defined geographical and cultural community.

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