Daily Insider: Capitec message to Pretoria: successful companies keep SA going

LATEST ON BIZNEWS RADIO iTunes: Capitec CEO: Share price plunge in perspective, Easy Equities, disrupting cell phone market and more (Click here for Spotify).LATEST ON BIZNEWS.COM: .Capitec's share price plunge in perspective – and CEO Gerrie Fourie on EasyEquities, disrupting the cellphone market and moreANCYL's 'Orwellian' election observer trip to Ukraine questioned MAILBOX: Dr Aseem Malhotra and the vaccinated – better late than neverKZN has no problem nominating disgraced Zweli Mkhize for ANC presidentMeet polymath scientist Zeblon Vilakazi – the Katlehong kid who became Wits Vice-Chancellor via a PhD, nuclear physics, CERN – and discipline Dr Jackie Stone, key to wiping out Covid-19 in Zimbabwe, found guilty on two charges Investments that may not be suitable for retirement portfolios Nick Hudson: Evidence is overwhelming – Covid propagandists should recant. But will they?Globally manipulative techniques deployed during Covid-19 era pioneered during the AIDS pandemic MAILBOX: Western Cape wants a Singapore model for SA, not a Cuban oneSex and porn addiction: a critical, candid conversation with expert Dr Paula Hall and Remojo's Jack JenkinsBoardroom Talk: Remgro offered at 62c in Rand reflects Vintcent is spot on about JSE's "fire sale" (Premium).NB: Getting this newsletter second hand? Click here for your own copy. It's free and takes under a minute..Capitec sent a strong message to Pretoria yesterday: It's successful companies like ours that are actually keeping South Africa's wheels turning. Line items in the 21 year old bank's financial results show that in the six months to end August its shareholders paid more than R1.5bn to SARS through income and dividend taxes..Put differently, R3bn a year is now injected annually into SA's Treasury because of a decision in 2001 by the founders of Capitec to invest in SA rather than offshore. And that's just from those entrepreneurs. Their enterprise's contribution is exponentially higher. Consider, for instance, monthly PAYE deductions deducted from salaries of Capitec's 15 295 staff. And the billions more that Treasury's VAT pot receives through the company's procurements..I'd love to see JSE-listed companies adding a new line in their financial statements – one which quantifies their total tax contribution. Displaying this publicly might just be the prod spendthrift politicians need to start appreciating the value added to society by entrepreneurs like those who created Capitec. And, of course, thousands more..Because it is the creators of enterprises, those hardy souls who often risk everything on a dream that they can do it better, who are the real heroes of a modern society. It is entrepreneurs who are the primary contributors to any modern society's wellbeing. Isn't it about time that fact was recognised – especially among business-bashers based in Pretoria?.data-title=" "The power is in the voters' hands" – Athol Trollip Q&AIn this Q&A from BNC#4 Athol Trollip discusses the state of politics in South Africa, how young people should get more involved and much more.".To receive the Daily Insider every weekday at 6am in your inbox click here. You can also sign up to the weekend's BizNews Digest for a wrap of the best content BizNews has to offer, for a leisurely Saturday read.

Daily Insider: Capitec message to Pretoria: successful companies keep SA going

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