The other night I saw something on the news about the Peace Parks Foundation and was struck by another Absa banner prominent in the background. With Absa also seemingly prominent at the launch of the chamber of commerce and industry over the weekend, I feel that it is time to publicly challenge Absa on its sponsoring policy.
At the latest count it is at least responsible for sponsoring the rugby Currie Cup, the national soccer league, some smaller sports as well as television programmes like Noot vir Noot.
It seems Absa has gone totally sponsor happy, throwing money around with gay abandon and with a total disregard for its embattled account holders.
Every time I walk into an Absa branch it is with the knowledge that I'm going to be ripped off unmercifully, as every small thing has to be paid for and costs seem to go up on a more than regular basis.
Every time I drive past that Absa roadside sign outside Somerset West proclaiming "My Game, My Passion", I feel like screaming:
"Yeah right, and MY money!"
Absa ought to be ashamed at the way it is wasting what could easily have been used to lower its massive bank charges.
If its overpaid executives want an excuse to watch a rugby or soccer match then they can buy a ticket like the rest of us. I hereby publicly challenge them to reveal exactly how much Absa is spending on its various sponsorships annually and to whom.
Cape Town
I read (Business Report, October 17) that Jerry Majatladi, spokesperson for the SA Post Office (Sapo), is concerned that some courier companies are "crying foul" over Sapo's perceived threat to their operations and thus creating a storm in a teacup.
No doubt, the storm is unwarranted but perhaps he is mindful of the chickens coming home to roost if Sapo's monopoly is ever seriously threatened.
Should all the postal service's eggs be in one basket?
(I would have thought that fluency in English would be a prerequisite for a media and communications manager.)
English Academy of SA
Hermanus
While potential investors impatiently wait for the initial public offering/privatisation of the Airports Company SA, the public enterprises department and reluctant compulsory shareholders (taxpayers) will be interested to note that in New Zealand this was achieved five years ago.
Auckland International Airport Limited, for example, counts among its 53 328 shareholders five banks and two city councils. This kind of spread will be necessary if projects such as King Shaka Airport and iDube Trade Port are ever to become viable cash cows.
Durban North
I'm confused by the article "Loophole in amnesty circular" (Business Report, October 17). Paragraph one reads:
"South Africans who hold undeclared offshore assets can now opt to make a declaration instead of applying for amnesty and paying a levy."
Paragraph three reads:
"If residents had worked overseas and brought the income earned into the country before July 1 1997, and did not declare it, they now have the opportunity to do so."
Now if one brought the income earned back before July 1 1997, what would they have to declare?
There would no longer be offshore assets to declare.
Can the first paragraph be read in isolation?
Why would anyone in their right mind opt to pay a 10 percent, plus 2 percent levy when making a simple declaration?
Please provide your readers with more comprehensible reporting. It would be nice to see a detailed report on the amnesty and the D405 circular, so that we can decide whether to apply or not.
Garsfontien
I should probably let history be the judge, but I would like to respond to the letter from Prema Damons (October 21).
The benefits of the old economy spread way beyond the Oppenheimers and most whites could lay claim to their share of the economic pie.
This is not happening with black economic empowerment and many of the historically disadvantaged will stay locked out.
Would it not be far better if Mr Damons were to use his skills to leverage the benefits of economic and political freedom rather than rely on legislation that distorts the economic paradigm and places "white" business at risk. You only need to look at the rest of Africa to see what happens when you destroy economic value.
In suggesting that my business should be on its way out, he reinforces my argument against risking white business to the detriment of numerous black employees.
Cape Town