Some good news, please
By connecting entrepreneurs with established brands and proven systems, South Africa's hundreds of franchise outlets create employment for tens of thousands of people and contribute massively to our economic output. It's an engine for small business growth, which is ultimately what will lift our country out of the bad news and into a brighter future.
We kick off this issue of Franchising with the Franchise Association of South Africa, looking at the facts and figures of the sector's economic contribution, along with the organisation's plans and partnerships to grow this throughout the coming year.
With supply chains once again in the spotlight due to the impact of the United States' tariff war, we consider the question of who controls the supply chain in a franchise arrangement and how this can impact business operations.
We examine social franchising, which takes the principles of franchising and applies them to social upliftment causes and learn some lessons from the rebranding of seafood restaurant John Dory's.
To wrap up, we look at World Franchise Day and some of the top business performers across the country. Because we all deserve a little good news, don't we?
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IOL News
13 minutes ago
- IOL News
MTN under investigation by US government for Afghanistan and Iran operations
One of South Africa's largest telecommunications companies, MTN, is being investigated by the US Department of Justice (DoJ) Image: Supplied One of South Africa's largest telecommunications companies, MTN, is being investigated by the US Department of Justice (DoJ) through a grand jury inquiry related to its former subsidiary in Afghanistan and Iran. The company revealed this information in its 2025 interim financial results on Monday, saying it had been approached, through its external US counsel, regarding the DoJ investigation into MTN Group. "MTN has been approached, through its external US counsel, regarding a DoJ grand jury investigation relating to MTN Group, its former subsidiary in Afghanistan and Iran". MTN said. The company added that it is fully cooperating with the DoJ and voluntarily responding to requests for information. "MTN is cooperating with the DoJ and voluntarily responding to requests for information. The Company will update the market as appropriate on any material developments in the matter," the company said. Grand juries determine if there is enough evidence to file formal charges, but do not decide guilt. Depending on the findings, MTN could potentially face a criminal trial in the US. According to reports, the US Department of Justice is investigating MTN's former operations in Afghanistan and its stake in Iranian mobile operator Irancell. The probe reportedly includes allegations that MTN paid protection money to militant groups in Afghanistan and questions around how the company acquired its licence in Iran, which has also sparked legal disputes in South Africa. MTN is currently involved in a legal dispute with Turkish telecom giant Turkcell. Turkcell alleges that MTN obtained its 49% stake in Iranian mobile operator Irancell through corrupt practices. Turkcell claims it was unfairly edged out of the deal in 2006, when MTN was awarded the minority shareholder position in the government-controlled Irancell. This comes amid worsening tensions between South Africa and the US with the Trump administration having recently imposed 30% tariffs on all South African products. The US government has also accused South Africa of human rights abuses, particularly against the Afrikaner community. IOL Business [email protected] Get your news on the go, click here to join the IOL News WhatsApp channel
IOL News
43 minutes ago
- IOL News
Assmang's Beeshoek Mine faces uncertain future as employment hangs in the balance
In a notice on the retrenchment, Assmang notified its stakeholders that an approved recovery plan hinging on AMSA committing to a three-year deal to off take at least 2.2 million metric tons per year was scuppered at the final moments. Image: Supplied As South African steelmaker Arcelormittal (AMSA) vacillates on a crucial three-year contract, Assmang's Beeshoek Iron Ore Mine in the Northern Cape has found itself in dire straits, reflecting broader challenges within the mining sector. With a staggering R3.6 billion impairment loss annually and ongoing production declines, the mine is exploring drastic corrective measures, including the potential retrenchment of over 700 jobs. This comes as Assmang, the operator of Beeshoek Mine, has issued a notice of retrenchment to its employees and is conducting a consultation process with labour on the possibility of saving the threatened 700 plus jobs. In a notice on the retrenchment, Assmang notified its stakeholders that an approved recovery plan hinging on AMSA committing to a three-year deal to off take at least 2.2 million metric tons per year was scuppered at the final moments. "In late June 2025, in an unexpected turn of events AMSA confirmed that they would not sign a three-year contract with Beeshoek. Prior to this, they did not give any indication that they were not willing to sign a three-year contract with Beeshoe," Assmang said. "If anything, AMSA had reinforced its intention to enter onto a three-year contract prior to this. This is a disappointing turn of events, one over which the company does not have any control. Moving forward, Beeshoek intends to discuss with unions the potential closure of Beeshoek." The failure to finalise the contract has drastically undermined the mine's operational viability. Without a steady influx of revenue, Beeshoek incurs an average monthly expense of R72 million, leading to annual losses of R2.6bn per annum for AMSA. Over the past three financial years, Beeshoek has recognized impairment losses totalling R3.6bn on all its assets as the mine is no longer economically viable. The mine's operational lifespan currently stands at just six more years, producing a mere 2.2 metric tons annually—a stark contrast to the ambitious plans laid out in previous years. In an effort to navigate the evolving landscape, the Beeshoek management devised numerous strategies aiming to improve sustainability, including a proposal to remove high stripping pits to minimise waste and significantly reduce operational costs. Despite these efforts, production volumes have dwindled, primarily due to reduced offtake from AMSA. The inability to secure a three-year contract has left Beeshoek reliant on a month-to-month agreement, heightening uncertainty and operational challenges. Moreover, the escalation of input costs—ranging from a 60% rise in diesel prices to a 65% increase in bulk explosives—has created significant financial pressure. The mine is now unable to replace ageing machinery or invest in necessary capital for maintenance without the assurance of a long-term contract, further complicating the path to recovery. Trade union Solidarity on Tuesday voiced concerns regarding the proposed retrenchments, calling them a devastating blow not just to employees but also to the local community around Postmasburg, which relies heavily on the mine's economic contributions. Adéle Rossouw, Solidarity's organiser for the mining sector, emphasised the dire implications of the mine's potential closure, citing its significance as a lifeline for local families. 'The problem is that Beeshoek supplies iron ore only nationally and is therefore at the mercy of the steel industry's own failings. Yet, Beeshoek has always been able to deliver profitable, high-quality ore, and surely there must be a suitable market,' Rossouw said. 'Due to the fact that they do not export, and since their only client can no longer buy from them, the worst possible option is now being considered.' Solidarity is expects thorough consultation on practical alternative options for employees, including employment opportunities at other mines in the area. Meanwhile, Assmang's Cato Ridge Works (CRW) operations and business will also close permanently and all 600 affected employees will be retrenched on August 31, 2025. Its Malaysia business is also being sold. 'This decision has been reached after a comprehensive review of CRW's operational and financial position,' said Assmag's parent company, African Rainbow Minerals, last month, which has well known South African businessman Patrice Motsepe as its biggest shareholder. 'Despite sustained efforts to explore alternatives to closure, the operation has continued to experience significant and unsustainable financial losses.' BUSINESS REPORT
Eyewitness News
2 hours ago
- Eyewitness News
Rand-rigging showdown in ConCourt: 'Whatever happens, a good sign SA didn't sweep allegations under the rug'
The rand price-fixing case involving 28 local and international banks has started in the Constitutional Court. In essence, the Competition Commission (CompCom) is appealing a Competition Appeal Court (CAC) ruling in January 2024 to dismiss the case against all but a handful of the institutions it accused of manipulating the currency. Legal representatives for the banks had argued that the 158 chats over seven years presented as evidence, were flimsy as proof of a single overarching conspiracy. RELATED: ConCourt showdown between banks and Competition Commission over rand rigging 'a high-stakes game' Competition Commission set to defend its powers to prosecute banks accused of manipulating the rand The international banks also said that South African courts do not have jurisdiction to hear the case because the alleged conduct did not happen in the country. Giving more background, Denker Capital's Kokkie Kooyman notes that the alleged rand-fixing took place from 2007 to 2018, He highlights how difficult it will be to prove an 'overarching conspiracy', which is the term used by the CompCom.
