KAP Group CEO Gary Chaplin to step down, Frans Olivier appointed successor
KAP Group announced on Thursday that CEO Gary Chaplin will step down from his executive role effective October 31, 2025, after 28 years with the company, including a decade as CEO.
During his tenure, Chaplin steered KAP through significant challenges, including the collapse of its major shareholder, a downturn in the polymer cycle, the COVID-19 pandemic, and a recent major investment cycle. Under his leadership, the group achieved substantial growth and built a robust platform for future value creation, the company said in a statement.
The KAP Board expressed gratitude for Chaplin's contributions to the group, its shareholders, customers, and staff, acknowledging the loss his departure represents while respecting his decision. Chaplin will remain available post-October 2025 to support the Board and his successor, ensuring a smooth transition.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Citizen
2 days ago
- The Citizen
Basic Income Grant implementation postponed again
The department's target for the current financial year is to table the Basic Income Support policy to Cabinet for approval. The implementation of South Africa's Basic Income Grant has been delayed once again, with the Department of Social Development announcing that further consultations are required before the policy can be finalised. The department presented its progress report to the portfolio committee on social development on Wednesday, outlining the ongoing challenges and next steps in developing the Basic Income Support policy. Despite more than two decades of policy development, the Basic Income Grant remains elusive, with approximately 9.2 million people currently dependent on the Covid-19 Social Relief of Distress Grant and 19.2 million beneficiaries across the South African Social Security Agency's (Sassa) other programs. The department has been working to create opportunities for grant-dependent individuals while navigating concerns about affordability and sustainability. Latest Basic Income Grant policy developments The Department of Social Development has been actively working on the Basic Income Support policy, with the first draft presented to the social protection, community and human development cluster Cabinet committee on 26 November 2024. However, the committee directed that additional consultations be conducted with internal members, with a particular focus on the policy's affordability and its linkages to economic opportunities. Following this directive, an interdepartmental workshop was organised on 31 March 2025 to discuss the revised document. During this meeting, all members agreed on the necessity of identifying ways to connect the grant with employment and sustainable livelihood opportunities targeted at the economically active population. The meeting acknowledged that the labour market, especially public employment initiatives, would not be able to absorb all current Social Relief of Distress beneficiaries. Deputy director-general Brenda Sibeko informed members of parliament (MPs) that the policy has been revised again and could potentially be approved within a year. 'If the policy is approved in the current financial year, then it means that after that, we have to write the law that makes the basic income support to be a permanent income support policy like the other grants,' she explained. ALSO READ: Sassa CEO's multimillion-rand package revealed amid suspension and grant hikes Ongoing consultations and timeline A second interdepartmental workshop is planned for the end of June 2025, which will be followed by bilateral meetings with the Presidency, Department of Labour, and National Treasury. The department intends to approach the committee in the second quarter of the 2025/26 financial year to request Cabinet consideration of the revised draft Basic Income Support policy. 'Once the consultations are concluded, the department will approach the SPCHD Cabinet Committee again in the second quarter of the 2025/26 financial year, to request Cabinet to consider the revised policy, and if approved, publish it for public comments,' the department explained. ALSO READ: Sassa SRD grant to be 'converted' to basic income grant – Mbalula says [VIDEO] Parliamentary frustration mounts MPs expressed growing frustration with the prolonged delays in developing a comprehensive Basic Income Grant policy. EFF MP, Noluvuyo Tafeni, voiced this concern directly, asking: 'When was the Basic Income Grant policy proposal first made? It was about some 30 years back, and there is still no progress.' The Basic Income Grant has indeed been on the country's policy agenda for more than 20 years, with the first proposal dating back to 1998. A technical proposal was subsequently drafted in 2002, but it failed to gain Cabinet approval. Financial challenges and sustainability concerns National Treasury has expressed significant concerns about the affordability and sustainability of introducing a Basic Income Support policy, given the country's high unemployment rate and current fiscal position. The department is working with various stakeholders to identify alternative ways to strengthen the implementation of the current Social Relief of Distress grant while creating pathways for beneficiaries to transition to other economic opportunities. Despite these challenges, the committee heard that the department has received approval to extend the Social Relief of Distress provision until the end of March 2026, with a budget of R35 billion. The department has proposed that the Social Relief of Distress grant be made permanent, with a phased approach to increase benefits progressively. The proposed entry-level Basic Income Support grant would be set at the Lower Bound Poverty Line, with long-term plans to eliminate poverty at the Upper Bound Poverty Line. ALSO READ: Sassa problems and glitches this year, will we get a basic income grant in 2025? Basic income grant supporting infrastructure and pilot programs While policy development continues, the Department of Social Development is working on several parallel initiatives to support the eventual implementation of the Basic Income Support policy. The department said it was collaborating with stakeholders to assist the South African Social Security Agency in enhancing system interoperability to improve efficiency in data-sharing for both eligibility assessment and economic linkages. Additionally, the department, along with Sassa and partners, is piloting ways to link grant beneficiaries to employment activities. An interdepartmental task team, including key departments such as National Treasury, the Presidency, Higher Education and Training, and Public Works, is working on various pathways to improve access to training, employment, and entrepreneurship support to reduce reliance on social grants as the only pathway out of poverty. ALSO READ: Ramaphosa hints again at expanding SRD grant – and will Treasury go 'BIG' this time? Next steps and legislative process The department's target for the current financial year is to table the Basic Income Support policy to Cabinet for approval. Should such approval be granted, the department will need to amend the Social Assistance Act to introduce a new social grant category. While the formulation of the amendment can be done relatively quickly, the timing of the legislation and its passage will depend on how rapidly Cabinet approves the draft bill, which will then be tabled to Parliament for processing. During this legislative process, it will be necessary for the Social Relief of Distress grant to be extended beyond March 2026 to ensure the continuation of income support. 'In order to ensure stability during this consultation period, the department will consult National Treasury for the SRD provision to be extended until the legislative process is complete, to ensure that its beneficiaries are protected from extreme poverty and vulnerability,' the department stated. NOW READ: Household food basket shows food prices still increasing
Daily Maverick
2 days ago
- Daily Maverick
‘Painful to witness' — behind the jobs bloodbath at the Mail & Guardian
In May, staff at the Mail & Guardian were served with Section 189 notices informing them that the publication was initiating a process of retrenchment. The figures are stark. Out of a newsroom that employs just 25 permanent staff, approximately half now face losing their jobs. A total of 24 positions across editorial, administration and IT were identified as affected, with 12 redundancies anticipated. The reasons provided in the notices were familiar to an industry under siege. 'The Covid-19 pandemic, power shortages, rising inflation and an already strained South African economy' were listed, alongside 'rising costs for print materials and ink, alongside a marked reduction in advertising budgets, as advertisers increasingly turn to digital platforms to reach their audiences.' Mail & Guardian owner Hoosain Karjieker told Daily Maverick this week: 'It is clear from the entire sector that we operate in, that the traditional print media business model has become a failed business model that requires a more dramatic intervention for the M&G to sustain itself in the future'. But behind the cold language of economic pressure lies a possibly deeper malaise. 'There's been a difficult climate for all media, but Mail & Guardian has been particularly poorly handled in recent years,' the newspaper's co-founder, Anton Harber, told Daily Maverick. 'It's been extremely painful to witness.' Insiders who spoke to Daily Maverick this week on condition of anonymity because of the rapidly-diminishing size of a grudge-prone industry, painted the picture of a media operation that has been inching towards collapse for years. M&G boasts a proud history The Mail & Guardian has often seemed like a publication with nine lives. Its lineage stretches back to 1985 when it launched as the Weekly Mail, established by a group of journalists retrenched from anti-apartheid publications — mainly the Rand Daily Mail. With Harber and Irwin Manoim as its first editors, the paper quickly became known for its tenacity, its independence, and its investigations. In 1995 it became the Mail & Guardian after British publisher The Guardian bought a majority stake, which it held until 2017. Over the years, it established a reputation as one of South Africa's most fearless investigative print titles, breaking major stories almost week on week, but with an unusual corresponding depth in fields like coverage of the arts. It also led the continent in digital media innovation. At one point, the Mail & Guardian ran the first and biggest news website in Africa. But that early advantage was slowly and then swiftly eroded. One insider remarked this week: 'How that lead was squandered needs to be studied.' The outlet's digital strategy has been inconsistent, marked by the erection of a paywall that was later removed, and a growing reliance on sponsored content, both online and in print. Print circulation figures tell their own story: just 4,904 copies sold, according to the most recent figures, a collapse from the publication's peak of 50,000 to 60,000 under one of its former editors, Ferial Haffajee. More than the numbers, the human toll has become impossible to ignore. Staff morale was depleted by longstanding concerns about late or missed payments to freelancers and suppliers, something that has earned the publication a reputation for unreliability within media circles for at least a decade, and which has made it very difficult for the newspaper to hold on to talented collaborators. Claims of a lack of transparency when it came to the true state of Mail & Guardian's finances have also swirled — something Karjieker adamantly disputes. 'I am not aware of these claims,' he told Daily Maverick. 'More importantly, we have always been very transparent with staff with regard to our budgets, business plans and business strategy.' In recent years, editors came and went relatively quickly, struggling to turn the ship around amid dwindling resources and inconsistent leadership. The Mail & Guardian's loss of its publishing partnership with amaBhungane in 2016 was another body blow. The relationship had guaranteed a stream of high-impact investigative work. When it ended, so too did a crucial source of circulation-boosting journalism. The departure of the cartoonist Zapiro shortly afterwards symbolised a further loss of the paper's cultural and editorial heft. If the paper's steady decline has felt at times like death by a thousand cuts, the departure of its longtime financial backer last year may prove the final wound. In October 2024, the Media Development Investment Fund (MDIF), which had been the Mail & Guardian's majority shareholder for 22 years, exited. The reasons behind its departure are unclear; Karjieker referred Daily Maverick this week to a press statement from the MDIF at the time that does not greatly elucidate the matter. 'Though sad to be exiting such an iconic media company, we are pleased that ownership of the Mail & Guardian is passing into South African hands and that the transaction will bring new capital into the company to fuel development,' MDIF head Harlan Mandel was quoted as saying at the time. Its shares were sold to former CEO Karjieker and director Thembisa Fakude. Staff have reported concerns about the retrenchment process to come, with unease over whether settlements will be fully honoured given the paper's questionable track record on payments. The beginning of the end — or not the end at all? Karjieker is adamant that it's not over for the Mail & Guardian. 'Our vision will always be for the M&G to be a platform for high-quality, independent and credible journalism that underwrites the strength of our brand,' he says. 'The changes under way are designed to ensure its continuance for many more years to come.' Asked if it was possible that Mail & Guardian would shutter its print operation and move fully digital, as a number of Media24 titles, including City Press, have recently done, Karjieker said it was possible, but not foreseen for 2025. As journalists across South Africa absorb the latest grim news, there is little appetite for finger-pointing or schadenfreude. Almost every South African media house has endured rounds of retrenchments or restructuring in recent years. 'We operate in a failed market and it's very easy to be a casualty, while it's harder to invest in the things that will help us get out of it,' said Daily Maverick CEO Styli Charalambous. 'This is another example of why we need a new model to ensure the sustainability of media in South Africa. There has to be funding for media as a public good.' DM
Daily Maverick
2 days ago
- Daily Maverick
US faces vape shortage as China tariffs, seizures hit Geek Bar
Shipments of vapes from China to the U.S. ground to a near halt in May from a year ago, official data shows, hit by U.S. President Donald Trump's tariffs and a crackdown on unauthorised e-cigarettes in the world's biggest market for smoking alternatives. That includes Geek Bar, a brand of flavoured vapes that is not authorised to sell in the U.S. but which had been widely available due to porous import controls. One retailer, who asked not to be named because their business sells unauthorised vapes, told Reuters that one of the store's vape suppliers normally receives 100 boxes of Geek Bar vapes per week, but is now getting just ten. Another supplier imposed unprecedented purchase limits. 'There were a lot of supply chain issues' during COVID-19, the person said. 'But I've never seen this.' The U.S. supplier limited purchases to five boxes at a time due to 'tariff-related price increases and limited market availability', an undated notice to customers seen by Reuters showed. Trump's decision to impose steep tariffs on China, now at 30% after peaking at 145% in April, as well as blockbuster seizures of unauthorised vapes, have constrained the supply of Chinese-owned vape brands and Geek Bar in particular, according to five industry sources and notices from U.S. Geek Bar wholesalers reviewed by Reuters. Between May 1 and May 28 the U.S. Food and Drug Administration recorded just 71 shipments of products labelled as e-cigarettes or vapes from China, compared with nearly 1,200 over the same period last year. Such imports had fallen between 40% and 60% in February, March and April, after Trump came into office, but collapsed in May, the data show. 'Due to increased tariffs, rising production costs, and reduced supply chain capacity, the manufacturer has informed us that they will be reducing supply volume in the near-term,' one U.S. regional Geek Bar wholesaler wrote to customers on April 22 in an email shared with Reuters. 'WE'RE TALKING ABOUT NICOTINE HERE' In the meantime, vape distributors expect prices to go in one direction. 'With tariffs, it'll definitely go up,' said one U.S. vape distributor who asked not to be named. But that might not impact sales much. Unauthorised vape manufacturers enjoy hefty margins, and so can eat some of the cost of tariffs, Luis Pinto, a spokesperson for British American Tobacco's BATS.L U.S. subsidiary, said. Meanwhile, consumers hooked on vapes tend to keep buying, even as the price goes up. 'If the price goes up, the price goes up. We're talking about nicotine here,' the vape distributor said, adding unlike other products, addicted users need their fix. Vapes like Geek Bar – priced around $20 currently – would still be good value even with a $5 increase, the person said. Geek Bar manufacturer, Guangdong Qisitech, did not respond to a request for comment sent to its general email address. Pinto agreed the tariffs will increase prices but probably not to the point 'where it is a barrier to usage'. Many of the vapes landing on U.S. shelves are manufactured in Shenzhen, which meets the majority of the world's demand for vapes. Some factories there make devices for large tobacco companies with the legal licence to sell their products in the United States, such as Japan Tobacco International 2914.T. Others fuel a booming market for unregulated devices that U.S. authorities say are illegal to import or sell. To mitigate tariffs, illicit vape producers can mislabel or undervalue their shipments or spoof their origin entirely to make it look like they came from a lower-tariff country like Indonesia, Vietnam or Mexico, Pinto said. Vapes from China are often smuggled into the U.S. disguised as other items entirely, such as shoes or toys, to evade officials hunting for unauthorised vapes at the border, according to public statements from the FDA and Customs and Border Protection. Geek Bar was by far the most popular unauthorised vape brand in the U.S. last year, accounting for around a quarter of sales tracked by market research company Circana in 2024 despite lacking a licence to sell from the FDA, which has struggled to contain illegal imports from China. The brand, as well as thousands of other labels often made in China and lacking FDA permission, are stocked by wholesalers and retailers around the country, often sold alongside authorised labels from big tobacco companies like BAT and Altria MO.N. PANIC BUYING U.S. tariffs have driven panic buying of vapes by U.S. buyers, higher shipping costs and increased risks at the border, the distributor, a former distributor and a person who used to work for a major Chinese vape company said. Substantial vape seizures were also a big driver of Geek Bar supply issues, two of the sources said. The FDA announced a large seizure in Chicago in February, and new FDA commissioner Marty Makary has pledged to crack down on unauthorised vapes. Government notices on seized goods show further vape seizures in March and April. The growth of Geek Bar and other unregulated vape brands have eaten into the market share of cigarette companies like Altria and BAT, which estimates unauthorised e-cigarettes accounted for some 70% of all U.S. vape sales last year. Altria CEO Billy Gifford told investors in April that he hoped tariffs would lead to 'much more enforcement' of vapes at the border. Trump's trade war with China has also seen China-U.S. air freight and shipping capacity collapse limiting shipping capacity for cargo including vapes. The FDA's data only captures shipments properly declared as vapes. As a result, it has recorded declining vape shipments since 2020 even as industry sales have grown. An FDA spokesperson said the agency expects the number of shipments it captures to increase as it ramps up efforts to ensure compliance and prevent illegal imports. Unauthorised vape makers have also been moving production to Indonesia – a shift that prolonged tariffs on China would likely accelerate, the former employee said. Vape makers are 'highly adaptable', the person said. 'Whatever happens in the U.S., the industry will survive.'
