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« THE RELIEF IS COMING – A statement from Pieter Boone Group CEO, Pick n Pay
Sun International helps out children this Mandela Day »

Pick n Pay and Boxer trucks leaving Gauteng en route to provide relief in KZN

16th Jul 2021
Categories: Pick n Pay.

CLIENT NEWS

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Consumer Goods Council of SA logo

24th Apr 2025

CGCSA WELCOMES DECISION TO WITHDRAW PLANNED VAT INCREASE WITH CAUTION

The Consumer Goods Council of South Africa (CGCSA) has welcomed with caution, the decision by National Treasury to withdraw the planned 0.5 percentage point increase in VAT which was due to be effective from 1 May 2025 saying it will go a long way to ease the financial burden on particularly poor households. CGCSA CEO Zinhle Tyikwe says while retailers had been working hard to exhaust best efforts to apply the VAT increase by ensuring systems compliance, shelf price labelling of each item and notification of consumers, to mention a few, the compliance readiness came at huge costs, which costs will now be further incurred to implement National Treasury’s reversal of the VAT increase. “The back and forth over the VAT issue came at a cost to retailers who have had to incur financial expenses while adjusting their systems. We’re yet to quantify the cost by retailers but some have told us that it has been a significant expense both in terms of financial cost and hours spent to ensure they were compliant,” says Tyikwe. Linked to the reversal of the VAT increase is the withdrawal of the Minister of Finance’s decision to expand the basket of VAT zero-rated food items to ease the burden of food costs on the poor and the vulnerable. In his budget statement, the Minister proposed expanding the basket of VAT zero-rated food items to include canned beans and peas, dairy liquid blends and certain organ meats (offal) from sheep, pigs, goats and poultry. In the VAT increase reversal statement of 24 April 2025, National Treasury announced that “the decision not to increase VAT means that the measures to cushion lower income households against the potential negative impact of the rate increase now need to be withdrawn and other expenditure decisions revisited”. “This is particularly concerning for the CGCSA and our members because many South Africans are hard hit by the cost of living and the zero-rating of the additional products would have gone a long way to not only cushion consumers but also improve healthy eating and healthy lifestyles, and improve food security. Our members have and continue to find ways of ensuring that basic food items are sold at competitive prices, aware of the impact of food costs on their consumers, particularly the poor and disadvantaged. Expanding the basket of VAT zero-rated food items would have been beneficial to consumers,” Tyikwe says. She however pointed out that CGCSA had been concerned about the expansion of the VAT zero-rated food items without the relevant legislation to enact the zero-rating, which is the Rates and Monetary Amounts and Amendment of Revenue Laws Bill (“the Draft Bill”). This legislation was necessary to ensure retailers zero rate designated food items effective from 1 May 2025. While zero-rating provisions were expected to be promulgated with retrospective effect in terms of the Draft Bill (i.e. if the Draft Bill is promulgated at a later date but determines the commencement of the additional zero-ratings to be 1 May 2025), this was going to create uncertainty with regards to the VAT rate that must be applied in respect of the additional zero-rated foodstuffs in the interim period until the Draft Bill has been promulgated. “This was going to cause a legal and tax dilemma for retailers and specifically whether they should zero-rate the additional zero-rated products from 1 May 2025. If they had zero-rated before the promulgation of the Draft Bill, retailers could have been breaking the law and if they did not, they were likely going to be liable for taxes or penalties following the retrospective adoption of the Draft Bill,” Tyikwe says. To eliminate uncertainty, the CGCSA had proactively lodged a VAT ruling application to SARS, requesting confirmation that retailer members may commence the zero-rating of additional zero-rated foodstuffs with effect from 1 May 2025, regardless of whether the Draft Bill is promulgated only after that date. CGCSA had also sought clarity from SARS and National Treasury on the additional items proposed to be zero-rated for VAT purposes effective 1 May 2025. It is important to highlight that government’s decisions have a significant impact from a practicality and implementation perspective. Our members have gone to great lengths to prepare for the VAT increase, including incurring unbudgeted exorbitant costs, which they have absorbed and not pass on to consumers. Tyikwe says that regulatory instruments that have significant implications to the industry need to be consulted, to enable Government to understand the practicalities of their decisions. “While we understand that the Minister has withdrawn the VAT increase by issuing a public statement. Clarity is still sought on when the appropriate legislation will be pass to enable the reversal of the VAT increase” says Tyikwe. Going forward, it critical that Government works speedily, in unity and in consultation with affected parties to eliminate unnecessary financial burdens, confusion and to promote regulatory certainty. “Our retail members play a crucial role in ensuring national food security and as law abiding citizens, they always need certainty and clarity on critical issues that may affect them and consumers”, said Tyikwe. ……End….

11th Apr 2025

BDO Expands African Footprint with the Addition of Ghana to Its Global Network

BDO continues to strengthen its presence across the African continent with the inclusion of Ghana as a new territory in its international network. Effective August 2024, SCG Chartered Accountants has officially joined BDO, now operating as BDO Ghana. “Our clients are global, and if we are to drive both business growth and meaningful impact in the societies we serve, we must be where they are,” says Bonga Mokoena, CEO of BDO South Africa. “We have a clear ambition to be the leading service provider to both African and international markets. This strategic expansion into Ghana brings us one step closer to that goal.” Founded in 2009, SCG Audit (now BDO Ghana) is a well-established firm with a team of forty-five (45) professionals, based in Accra. The firm provides a range of audit, tax, accounting, and payroll services and has a strong track record of advising medium-sized companies across various industries. It is classified as A1—the highest tier in the 6-tier ranking system of the Institute of Chartered Accountants, Ghana (ICAG)—and is one of only fourteen (14) firms in the country with this distinction as of 3rd April 2025. George Katako, Managing Partner of BDO Ghana, expressed enthusiasm about the new chapter: “Having worked closely with BDO over the years, we are confident that joining the network positions us to sustain long-term growth. Growth is driven by the quality of leadership, and we believe the BDO structure enables that.” Katako further emphasised the alignment of values between the two firms: “The cluster model adopted by BDO—which promotes close collaboration and integration across firms—resonates deeply with our own culture. It allows us to function as one firm across borders, driving collective success.” Mark Stewart, Regional Director of BDO Africa, welcomed the development as a natural progression in their regional strategy: “We’ve had a strong relationship with the SCG team for years, and this formal integration is a milestone in our vision to expand across Africa’s most significant economies. George and his team have built a reputable firm, and with the support of BDO’s global resources, we look forward to scaling even greater heights together.” BDO now has a presence in the top nine (9) African countries by GDP and is consistently ranked among the top three (3) to five (5) firms in the markets where it operates. With representation across the continent through both member and referral firms, BDO offers access to clients in every African country. Globally, BDO spans 166 countries, with over 115,000 professionals working across more than 1,700 offices. BDO Ghana is located at Advantage Place, 8th Floor, 23 Mayor Road, Ridge West, Accra. Visit www.bdo.com.gh for more information. * This is based on the list of licensed firms that have fulfilled all the prescribed requirements of the Institute of Chartered Accountants, Ghana. Firms have been categorised for the purposes of applying the appropriate licence fees. The criteria were on revenue levels, number of partners, and number of qualified staff etc. as reported by firms. The categories range from A1 to D, with A1 being firms in the highest category and in that order. ENDS

10th Apr 2025

Sibaya Casino unveils Sun International’s biggest solar plant to date

4590 Solar panels set benchmark for hospitality industry in South Africa A solar plant as large as four rugby fields will provide 60% of Sibaya Casino & Entertainment Kingdom’s electricity requirements, setting a benchmark for South Africa’s hospitality industry. The 2.5MW plant, with 4590 solar panels was installed at a cost of R54-million and is hospitality group Sun International’s largest investment in green energy to date. It covers 90% of Sibaya’s external parking lot and will offer shade for visitors’ cars while producing around 3,699 GWh of clean energy, significantly reducing Sibaya’s reliance on traditional power sources. Ravin Sahadev, Sibaya’s Maintenance Manager, said the aim of the solar plant was for the leisure and hospitality complex to “reduce our reliance on diesel to prevent emissions during times of loadshedding, and reduce electricity consumption during normal periods”. “By doing this, Sibaya not only saves money but also contributes towards Sun International’s environmental strategy which aims to manage energy efficiently and cost-effectively,” Sahadev said. The plant, which has a lifespan of around 25 years, was installed by LTM Energy Group and sets a new standard for commercial energy efficiency in the hospitality industry. Virath Gobrie, Sibaya General Manager, said the solar plant was a testament to Sibaya’s dedication to sustainability and innovation. “By reducing our carbon footprint and investing in renewable energy, we are reinforcing our commitment to sustainability and operational efficiency while setting an example for the industry and contributing to a greener future for South Africa.” Ends.

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