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AGBA Acquisition Limited Announces Business Combination Agreement with TAG Companies

The post-combination combined company is expected to trade on the NASDAQ after closing under the same ticker symbol

  • AGBA Acquisition Limited (“AGBA”) has entered into a business combination agreement with TAG Holdings Limited (“TAG”) and its wholly-owned subsidiaries TAG International Limited (“B2B”), TAG Asset Partners Limited (“B2BSub”), OnePlatform International Limited (“HKSub”), OnePlatform Holdings Limited (“OPH”), and TAG Asia Capital Holdings Limited (“Fintech”).

  • OPH and Fintech (“Platform Businesses”) form an integral part of TAG’s wider portfolio of companies.

  • The deal gives the Platform Businesses a combined base enterprise value of US$555 million. In addition, AGBA and the Platform Businesses will aim to ensure that the post-combination combined company shall receive a sufficient amount to fund its agreed business plans and operations in immediately available cash, net of expenses and liabilities, of at least US$35,000,000 comprised of (i) amounts not redeemed from AGBA’s trust account and (ii) amounts raised in private investment in public equity (PIPE).

NEW YORK, Nov. 4, 2021 /PRNewswire/ — AGBA Acquisition Limited (“AGBA”) (NASDAQ: AGBA, AGBAU, AGBAW, AGBAR), a special purpose acquisition company, announced today that it has entered into a business combination agreement (the “Business Combination Agreement”) with TAG Holdings Limited (“TAG”), a British Virgin Islands diversified financial holding company, and its wholly-owned subsidiaries, TAG International Limited, a British Virgin Islands business company engaged in business-to-business services (“B2B”), TAG Asset Partners Limited, a wholly-owned subsidiary of B2B (“B2BSub”), OnePlatform International Limited, a wholly owned subsidiary of B2BSub (“HKSub”), OnePlatform Holdings Limited, a Hong Kong-headquartered company that engages in business-to-business services through its wholly-owned subsidiaries (“OPH”), and TAG Asia Capital Holdings Limited, a British Virgin Islands business company which engages in the financial technology sector through its wholly-owned subsidiaries (“Fintech”). As part of the transaction, OPH will first become a subsidiary of B2B through a merger with HKSub, following which AGBA will form two wholly-owned subsidiaries which will merge with B2B and Fintech, respectively, with B2B and Fintech as the surviving entities (the “Acquisition Merger”).

In consideration of the Acquisition Merger, AGBA will issue 55,500,000 ordinary shares with a deemed price per share of US$10.00, as directed by TAG, in its capacity as the sole shareholder of B2B and Fintech. Upon the completion of the business combination, the parties plan for the combined company to be NASDAQ-listed under AGBA’s current ticker symbol – AGBA. The post-combination combined company of the Platform Businesses (the “Combined Company”) thereby will become a publicly listed company.

“We are thrilled to partner with AGBA to create a unique market-leading personal ‘wealth and health’ platform company in the Greater Bay Area (GBA). As the GBA is one of the world’s largest financial services markets, with an overall economy size of US$1.7 trillion, we are honoured to create a digital ecosystem that offers full-suite financial products and services to individual and corporate customers, by leveraging existing infrastructure, customer base and business partners to optimize customer experience empowered by technology. We are particularly well-positioned to capture opportunities emerging from the Wealth Management Connect and Insurance Connect schemes. The Combined Company will enable our digital transformation and further strengthen our competitive advantages in procuring and financing new clients and partners,” said Wing-Fai Ng, President of TAG.

“A successful SPAC needs to be thoughtful about all phases of the SPAC life-cycle, from target search, diligence, post combination value-add through to public market stakeholder management. Our mission at AGBA is to partner with fundamentally attractive enterprises as they journey into the U.S. public markets and create sustainable value for shareholders. We are extremely honored to become associated with OnePlatform Holdings Limited and TAG Asia Capital Holdings Limited, companies with an accomplished management team, as they develop innovative financial products and services to address customers’ evolving needs. We look forward to working together to complete the business combination,” said Gordon Lee, CEO of AGBA.

Key Transaction Terms

Under the terms of the Business Combination Agreement, through the Acquisition Merger AGBA will acquire all of the issued and outstanding equity securities of each of the Platform Businesses in consideration for the issuance of 55,500,000 AGBA ordinary shares, as directed by TAG, in its capacity as the sole shareholder of the B2B and Fintech.

Loeb & Loeb LLP is acting as legal advisor to AGBA and Dechert LLP is acting as legal advisor to TAG and its subsidiaries.

The description of the transaction contained herein is only a summary and is qualified in its entirety by reference to the Business Combination Agreement relating to the transaction, a copy of which will be filed by AGBA with the SEC as an exhibit to a Current Report on Form 8-K.

About The Platform Businesses

OnePlatform Holdings Limited (“OPH”) and TAG Asia Capital Holdings Limited (“Fintech”) (collectively “Platform Businesses”) form an integral part of TAG’s wider portfolio of companies. Through their wholly-owned subsidiaries, OPH is engaged in business-to-business (or B2B) services and Fintech is engaged in the financial technology or fintech business. The Platform Businesses are wholly-owned by TAG Holdings Limited (“TAG”).

About AGBA Acquisition Limited

AGBA Acquisition Limited is a British Virgin Islands company incorporated as a blank check company for the purpose of entering into a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization or similar business combination with one or more businesses or entities. AGBA’s efforts to identify a prospective target business are not limited to a particular industry or geographic region, although it has focused on operating businesses in the healthcare, education, entertainment and financial services sectors that have their principal operations in China.

Forward-Looking Statements

This press release contains, and certain oral statements made by representatives of AGBA, TAG, B2B, B2BSub, HKSub, OPH, and Fintech, and their respective affiliates, from time to time may contain, “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Actual results of AGBA, TAG, B2B, B2BSub, HKSub, OPH, and/or Fintech may differ from their expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “might” and “continues,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, expectations of AGBA, TAG, B2B, B2BSub, HKSub, OPH, and/or Fintech with respect to future performance and anticipated financial impacts of the business combination, the satisfaction of the closing conditions to the business combination and the timing of the completion of the business combination. These forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from expected results. Most of these factors are outside the control of AGBA, TAG, B2B, B2BSub, HKSub, OPH, and/or Fintech and are difficult to predict. Factors that may cause such differences include, but are not limited to: (1) the occurrence of any event, change or other circumstances that could give rise to the termination of the Business Combination Agreement relating to the proposed business combination; (2) the outcome of any legal proceedings that may be instituted against AGBA, TAG, B2B, B2BSub, HKSub, OPH, and/or Fintech following the announcement of the Business Combination Agreement and the transactions contemplated therein; (3) the inability to complete the business combination, including due to failure to obtain approval of the shareholders of AGBA, TAG, B2B, B2BSub, HKSub, OPH, and/or Fintech or other conditions to closing in the Business Combination Agreement; (4) delays in obtaining or the inability to obtain necessary regulatory approvals (including approval from insurance regulators) required to complete the transactions contemplated by the Business Combination Agreement; (5) the occurrence of any event, change or other circumstances that could give rise to the termination of the Business Combination Agreement or could otherwise cause the transaction to fail to close; (6) the inability to obtain or maintain the listing of the Combined Company’s ordinary shares on NASDAQ following the business combination; (7) the risk that the business combination disrupts current plans and operations as a result of the announcement and consummation of the business combination; (8) the ability to recognize the anticipated benefits of the business combination, which may be affected by, among other things, competition, the ability of the Combined Company to grow and manage growth profitably and retain its key employees; (9) costs related to the business combination; (10) changes in applicable laws or regulations; (11) the possibility that the AGBA, TAG, B2B, B2BSub, HKSub, OPH, and/or Fintech or the Combined Company may be adversely affected by other economic, business, and/or competitive factors; and (12) other risks and uncertainties to be identified in the definitive proxy statement and registration statement on Form S-1 that will be filed by AGBA (when available) relating to the business combination, including those under “Risk Factors” therein, and in other filings with the Securities and Exchange Commission (“SEC”) made by AGBA, TAG, B2B, B2BSub, HKSub, OPH, and/or Fintech. AGBA, TAG, B2B, B2BSub, HKSub, OPH, and Fintech caution that the foregoing list of factors is not exclusive. AGBA, TAG, B2B, B2BSub, HKSub, OPH, and Fintech caution readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Neither AGBA, TAG, B2B, B2BSub, HKSub, OPH, nor Fintech undertakes or accepts any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based, subject to applicable law. The information contained in any website referenced herein is not, and shall not be deemed to be, part of or incorporated into this press release.

Important Information

AGBA Acquisition Limited (“AGBA”), and its respective directors, executive officers and employees and other persons may be deemed to be participants in the solicitation of proxies from the holders of AGBA ordinary shares in respect of the proposed transaction described herein. Information about AGBA’s directors and executive officers and their ownership of AGBA’s ordinary shares is set forth in ABGA’s Annual Report on Form 10-K filed with the SEC, as modified or supplemented by any Form 3 or Form 4 filed with the SEC since the date of such filing. Other information regarding the interests of the participants in the proxy solicitation will be included in the definitive proxy statement pertaining to the proposed transaction when it becomes available. These documents can be obtained free of charge from the sources indicated below.

In connection with the transaction described herein, AGBA will file relevant materials with the SEC including a preliminary proxy statement and a registration statement on Form S-1, or other appropriate form. Promptly after the registration statement is declared effective and the SEC has completed its review of the proxy statement, AGBA will mail the definitive proxy statement and a proxy card to each stockholder entitled to vote at the special meeting relating to the transaction. INVESTORS AND SECURITY HOLDERS OF AGBA ARE URGED TO READ THESE MATERIALS (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND ANY OTHER RELEVANT DOCUMENTS IN CONNECTION WITH THE TRANSACTION THAT AGBA WILL FILE WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT AGBA, TAG, TAG’S SUBSIDIARIES, AND THE TRANSACTION. The proxy statement, registration statement on Form S-1 and other relevant materials in connection with the transaction (when they become available), and any other documents filed by AGBA with the SEC, may be obtained free of charge at the SEC’s website (www.sec.gov).

Contacts

For AGBA Acquisition Limited:
Gordon Lee, CEO
Gordonlee9520@yahoo.com
+852 6872 0258

For TAG Holdings Limited:
Wing Fai Ng, President
Wfng@oneplatform.com.hk
+852 3601 8363

Cision

Cision

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SOURCE AGBA Acquisition Limited

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Companies Should Quantify Employees’ ‘True’ Value On Financial Statements

Main Solutions Architect for Visibility Corporation. Ex-CFO, now helping Engineer-to-Buy organizations understand about Visibility’s ERP process. 

Men and women usually assert that workforce are a company’s most-valued assets, and I concur. Having said that, why really don’t equilibrium sheets mirror that? I was in the viewers when this stage was reviewed at FInEx Summit 2021 by author and company valuation expert Dave Bookbinder, in his talk “Human Capital — Evaluating Our Most Useful Means.”

Throughout his converse, Bookbinder mentioned that how organizations worth human funds does not explain to the total tale as the widespread methodology for valuing personnel is primarily based on how substantially it would value to substitute them. He mentioned that this turns personnel into commodities, fairly than people, from an accounting place of check out.

Personnel wage fees, such as fringe benefits, are shown on a profit and loss (P&L) assertion as fees and are generally a company’s greatest price. U.S. generally recognized accounting ideas are in conflict with the plan that employees are intangible firm belongings.

In gentle of the “Great Resignation,” numerous workforce experience undervalued. There is a trend of staff searching for employee-oriented, favourable do the job environments. As a future employee appears for this metric, it would be nice for them to see it in a economic statement.

I attempted to set a succession program with each other at a previous employer to discover and reward workforce who were being witnessed as important to the company. This is a tactic to reduce resignations, but having a powerful staff-supportive tradition is a lot more essential.

Layoffs are usually a chilly mathematical physical exercise merged with a biased projection of a potential employee’s truly worth to the organization by men and women with a fastened state of mind. Maybe the business enterprise design altered, perhaps the total corporation fails if staff payment is too high, it’s possible not. I have had to lay off personnel ahead of, and it is the most challenging undertaking I experienced to total as a servant chief and another person who genuinely cares about people today. I see layoffs as a organization failure that typically could have been averted. Staff count on firms, and firms depend on personnel. Both sides make investments in means to continue to keep the normal harmony of this romantic relationship. Numerous occasions, there is an psychological bond involving a supervisor and the workers customers who are being asked to obtain other implies of monetary help. Superior personnel generally voluntarily go away their companies, which may also upset this stability.

How can you quantify the price workforce provide to your enterprise? One way would be to rating employees on attributes this kind of as empathy, consumer support (inside/external), constructive frame of mind, problem-resolving, society adoption, item knowledge, relationship constructing, believe in, respect, management, accountability, how effectively they do the job with others, etcetera. You could then price workforce with these features better since other personnel may possibly want to do the job with them extra, consumers may possibly want to obtain from them more, banks may perhaps want to lend to them more, and many others. This does indicate there would be bias and subjective grading for this intangible asset. You could use income and gains as a baseline money regular for all workforce, change up or down based mostly on the grading of the characteristics above, and then assign a value.

Just because it is tricky to quantify worker worth does not signify you shouldn’t test to. The reason of financial statements is to show the real worth of a organization. Are you deceptive the men and women who read through your economical statements by hiding the intangible asset benefit of your staff members?

I applaud the UN Sustainability Goals for supporting a global work to assist address earth complications such as poverty, hunger, ocean air pollution, unclean drinking water, and so on. I have observed corporations consider motion and improve their money reporting to incorporate how they are supporting these efforts. Environmental, social and governance (ESG) is a new reporting craze as people today who read economical statements want to know whether or not a corporation is supporting societal aims. Reporting a metric of staff really worth, on a organization stability sheet, should be the upcoming improve.

Forbes Finance Council is an invitation-only business for executives in productive accounting, economical preparing and prosperity management companies. Do I qualify?

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15 Most Valuable South African Companies

In this article, we will take a look at the 15 most valuable South African companies. However, you can skip the introduction into why South Africa might be an attractive region to invest in and proceed directly to the 5 Most Valuable South African Companies.

South Africa is a country on the southern tip of the African continent. Officially known as the Republic of South Africa(RSA), it is home to over 60 million people of diverse ethnicities and cultures. The country has gone through massive changes throughout history, with its economy being revolutionized during the 19th century, due to the discovery of diamonds, gold, and other valuable minerals in the region.

In the years following World War II, South Africa has established a well-developed manufacturing base, the likes of which became a global contender, experiencing highly variable growth rates, including a time where its growth rates were the highest in the world for a few years. All this came to a halt, however, during the 1970s, due to the implementation of apartheid policies in the country, which led many investors to withhold foreign investments and different countries to impose heavy trade sanctions against South Africa.

Despite apartheid being dismantled in the early 1990s, it wasn’t until the democratic elections in 1994, that South Africa witnessed a significant investment return. To this day, the economy of South Africa is the second-largest in Africa, although it boasts the most industrialized, technologically advanced, and diversified economy in the continent. Since 1996, South Africa’s Gross Domestic Product(GDP) had almost tripled to its peak at around $416 billion in 2011, before declining to approximately $317 billion in 2021. Despite the decline, the Gross Domestic Product has increased at an annualized rate of 4.6{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} in the first quarter of 2021, following an increase of 5.8{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} in the fourth quarter of 2020.

Alongside Nigeria and Egypt, South Africa boasts an increasingly large percentage of African GDP. In more recent years, South Africa seems to join the countries embracing cryptocurrency trade and investments, with its financial regulators predicting a boom in crypto activity in the country. According to Quartz, South Africa’s crypto practices sets it apart from much of Africa, making it one of the top bitcoin trading nations of the continent, with trade volumes estimating around $25.8 million.

State-owned South African enterprises and corporations play a remarkable role in the country’s growth and economy, particularly in regards to agriculture, mining, and manufacturing products associated with these sectors. In the mining industry alone, South Africa unsurprisingly has a major foothold, considering it dominated the country’s economic landscape for many years, and contributed over $23.87 billion to the South African Gross Domestic Product (GDP). Industry giants like Kumba Iron Ore Ltd (JSE:KIO) and Anglo American Platinum (JSE:AMS) lead the charge in the mining industry, with the latter being the largest primary producer of platinum in the world.

Alongside mining, Trade, and telecommunications, the finance and banking sector made massive contributions to the country’s economy, with the total sector assets accumulating up to $450 billion by the end of March 2020. According to the South African Reserve Bank (SARB), South Africa’s finance and banking sector is dominated by just five of the largest banks and holding companies, which altogether held 89.4{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} of the total sector assets by the end of March 2020. Among these, FirstRand Limited (JSE:FSR) and Standard Bank (JSE:SBK) lead the financial sector with market capitalizations of $23.42 billion and $16.35 billion respectively.

15 Most Valuable South African Companies

15 Most Valuable South African Companies

Photo by Campaign Creators on UnsplashOur Methodology

The following list ranks the top South African companies based on market capitalization, representing a company’s worth on the open market, and net revenue. For our list, we will be making use of data and information regarding both these metrics provided by Yahoo Finance and Google Finance.

With this context in mind, let’s now look towards the 15 most valuable South African companies.

15 Most Valuable South African Companies

15. Bid Corporation Limited (JSE:BID)

Market Capitalization: $7.52 Billion

Bid Corporation Limited (JSE:BID), also known as Bidcorp, is an international broad-line food-services group operating throughout countries located in Europe, Asia, South America, and Africa, with its headquarters in Johannesburg. Listed on the Johannesburg Stock Exchange (JSE), Bid Corporation Limited (JSE:BID) offers a wide range of services, including distributing food services and products involved with the catering and retail sectors, along with the provision of e-commerce solutions within the countries it operates in. Its operations in Africa mainly involve manufacturing and distribution of meat, poultry, dairy, and general food items, as well as equipment. With a market cap of $7.52 billion and reported revenue of $7.36 billion, Bid Corporation Limited (JSE:BID) ranks 15th on our list of most valuable South African companies.

14. Absa Group Limited (JSE:ABG)

Market Capitalization: $8.34 Billion

Originally known as the Amalgamated Banks of South Africa, Absa Group Limited (JSE:ABG) is a South African-based financial services organization with its operations divided into different key groups, ranging from personal and business banking, wealth and investment banking, credit card issuance, investment management as well as banking assurance. Formed in 1991 through a merger of UBS Holdings, the Allied Bank Group, the Volkskas Bank Group and certain interests of the Sage Group South Africa, Absa Group Limited (JSE:ABG) is listed in the Johannesburg Stock Exchange (JSE) as one of South Africa’s largest diversified financial services conglomerate. The Group owns majority stakes in banks across multiple African countries aside from South Africa, including Ghana, Kenya, Mozambique and Botswana, along with representative offices in Namibia and Nigeria, and securities organizations in the United Kingdom and the United States.

13. Gold Fields Limited (JSE:GFI) (NYSE:GFI)

Market Capitalization: $8.35 Billion

Next in line in our list of most valuable South African companies is Gold Fields Limited (JSE:GFI) (NYSE:GFI), which is listed on both the Johannesburg Stock Exchange (JSE) and the New York Stock Exchange (NYSE). Gold Fields Limited (JSE:GFI) (NYSE:GFI) is one of the world’s largest gold mining firms and one of the best fold mining stocks to invest in. Headquartered in Johannesburg, the company has eight operating mines and 16 gold processing facilities. Primarily involved in both underground and surface mining, along with other related tasks activities, including excavation, exploration, and smelting operations in South Africa, Australia, Ghana, Peru, and more recently, Chile, Gold Fields Limited (JSE:GFI) (NYSE:GFI) has acquired a total attributable annual gold-equivalent production of 2.2 million ounces, mineral reserves of over 52.1 million ounces and total mineral resources of over 116.0 million ounces.

12. Sanlam Limited (JSE:SLM)

Market Capitalization: $9.26 Billion

Sanlam Limited (JSE:SLM) is a financial services group headquartered in Bellville, Western Cape, South Africa. Listed on the Johannesburg Stock Exchange (JSE), the Namibian Stock Exchange (NSX) and the A2X, it is Africa’s largest insurance company. Sanlam Limited (JSE:SLM) holds expertise in areas including life and general insurance, financial planning, retirement and employee benefits, investment handling and wealth management. With operations in multiple African and international countries, including India, Malaysia, the United Kingdom and the United States, Sanlam Limited (JSE:SLM) maneuvers its affairs using its five business clusters, comprising of Sanlam Personal Finance, Sanlam Emerging Markets, Sanlam Corporate and Santam. The Group has a market cap of $9.62 billion and a reported annual revenue of $8.84 billion for 2020.

11. Sibanye Stillwater Limited (JSE:SSW)

Market Capitalization: $10.69 Billion

Sibanye Stillwater Limited (JSE:SSW) is a leading multinational precious metals mining company, with a portfolio of varied Platinum Group Metal (PGM) operations within the United States and South Africa, gold mining projects in South Africa and copper, gold and PGM exploration enterprises in the North and South Americas. Established in 2013, with its headquarters in Johannesburg, South Africa, Sibanye Stillwater Limited (JSE:SSW) has grown into one of the world’s largest primary producers of platinum, palladium, and rhodium, while also being one of the top gold producers. According to their 2020 report, the company produced 3 million ounces of PGMs and 0.98 million ounces of gold.

More recently, Sibanye Stillwater Limited (JSE:SSW) has moved forward its global diversification strategies and expanded into the battery metal sphere by investing in a lithium hydroxide project based in Finland. In February 2021, the company acquired a 30{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} stake in Keliber Oy, a leading European lithium project located in Finland, giving Sibanye-Stillwater (JSE:SSW) great interest in the Keliber project. With over 84,700 employees, Sibanye Stillwater Limited (JSE:SSW) is among the top four private sector employers in South Africa.

10. Kumba Iron Ore Ltd (JSE:KIO)

Market Capitalization: $11.47 Billion

Kumba Iron Ore Ltd (JSE:KIO), a producer and global supplier of iron ore, ranks 10th on our list of most valuable South African Companies. Based in Gauteng, South Africa, Kumba Iron Ore Ltd (JSE:KIO) is the largest iron ore mining corporation in Africa, with its mining operations mainly conducted in the Sishen and Kolomela Mines located in the Northern Cape Province. For 2020, Kumba Iron Ore Ltd (JSE:KIO) reported a total production of 8.6 million tonnes (Mt) of iron ore and a revenue of $5.47 billion.

9. Sasol Limited (JSE:SOL) (NYSE:SSL)

Market Capitalization: $11.78 Billion

Sasol Limited (JSE:SOL) (NYSE:SSL) is an integrated energy, chemical and fuels company based in Sandton, South Africa. It was founded in Sasolburg in 1950 and currently develops and leverages technologies, including synthetic fuel. Sasol Limited (JSE:SOL) (NYSE:SSL) also manufactures liquid fuels, chemicals and electricity. The company has over 30,000 employees worldwide, with operations conducted in 33 countries. Sasol Limited (JSE:SOL) (NYSE:SSL) is the largest taxpayer entity in South Africa, and one of the largest coal mining corporations in the world. The company made use of the Fischer-Tropsch method of chemical extraction (A collection of chemical reactions that convert carbon monoxide and hydrogen into liquid hydrocarbons) to create chemical products to be sold on the local and international markets. Along with its chemical and energy operations, the group operates six coal mines in the regions of Secunda and Sasolburg, with the coal mainly used for feed-stock and electricity generation.

8. Impala Platinum Holdings Limited (JSE:IMP)

Market Capitalization: $12.47 Billion

Impala Platinum Holdings Limited (JSE:IMP), also known as Implats, is a South African holding company, and one of the world’s leading producers of Platinum Group Metals (PGMs). Structured around six mining operations along with the Impala Refining Services, a toll refining business, Impala Platinum Holdings Limited (JSE:IMP) runs its operations in the Bushveld Complex in South Africa, the Great Dyke in Zimbabwe and the Canadian Shield, three of the world’s most prominent domains for PGMs.

Impala Platinum Holdings Limited (JSE:IMP) has more than 50,000 employees and reported a revenue of $4.77 billion for the fiscal 2020. This, along with the company’s market cap of $12.55 billion, puts Impala Platinum Holdings Limited (JSE:IMP) on the eighth spot in our list of the most valuable South African companies.

7. Capitec Bank Holdings Ltd (JSE:CPI)

Market Capitalization: $13.40 Billion

Capitec Bank Holdings (JSE:CPI) provides banking products and services in South Africa through its subsidiaries. Operating through its two sections, retail banking and business banking, the company provides transactional banking services, including term loans, credit facilties, mortgage loans, overdrafts, instalment sales, credit cards, payment and collection services, as well as funeral and life insurance policies. The company also provides foreign exchange forward contracts, exchange options and term deposits, as well as mobile banking services. As of February 2021, the company operates roughly 857 branches and 2,660 ATMs, and has over 14,000 employees.

6. Standard Bank Group Ltd (JSE:SBK)

Market Capitalization: $15.53 Billion

Standard Bank Group Ltd (JSE:SBK) is a South African-based financial services group headquartered in Johannesburg and it occupies the sixth position in our list of most valuable South African Companies. With a global presence focused primarily on emerging markets, Standard Bank Group Ltd (JSE:SBK) has operations in over 30 countries across the globe, including seventeen in Africa. Standard Bank Group Ltd (JSE:SBK) was founded in 1962 and was originally a subsidiary of the British overseas bank, Standard Bank, under the name of the Standard Bank of South Africa. Based on assets and earnings, Standard Bank Group Ltd (JSE:SBK) is Africa’s largest bank.

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Disclosure: None. 15 Most Valuable South African Companies is originally published on Insider Monkey.

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Why Domain Names Are Important For Finance Companies

Finance firms are some of the most important corporations in any economic system. They are sources of credit score, present protected means to save and devote dollars, and inject significantly-needed shareholder money in organizations, alongside lots of other responsibilities. When we imagine of finance providers, their area identify is usually the very last thing on our intellect. However, a finance company is eventually a corporation, and in a planet more and more mediated by software package, it is unattainable to operate a thriving business without having a area name.

Recognition

A domain name is the digital equal of a physical address with a significant indicator by the gate and look for engines are like handle textbooks. Organizations have to have area names so that they are discoverable by their shoppers. The area identify tells prospects wherever to uncover you and may well even hint at what you do. For occasion, the financial institution keeping business, Zions Bancorporation, has the area title zionsbancorporation.com. This area identify tells us that Zions is associated in the banking sector. Alternatively, a area name may possibly not show what the small business does. For example, impartial investment decision lender and money products and services organization Cowen Inc.’s area name is simply just, cowen.com. The critical matter is that shoppers can discover your company.

Retain it Simple

The ideal domain names are short, and easy because that can make them simpler to remember. You want a domain title that will adhere to the minds of your shoppers. It’s harder to have a very simple area title when your organization name is difficult, so what several corporations do is abbreviate their small business name so that their prospects will be ready to try to remember their domain identify. For example, the American Fairness Expense Lifestyle Keeping Corporation has a very very long and descriptive title. But it is a identify which is way also very long for a area title. So, they have a less difficult area name: american-fairness.com. A domain title is not a math trouble, it has to be simple.

Be Descriptive

Lots of companies like the plan of a descriptive domain identify due to the fact that screams out at a purchaser and tells them precisely what the enterprise does. The concept is that by having these types of a descriptive identify, shoppers will gravitate toward that area identify instead than heading to considerably less descriptive area names.

Nevertheless, other area names rely purely on the manufacturer of the business enterprise. For instance, worldwide advisory-focused expense lender, PJT Companions has a extremely undescriptive area identify: pjtpartners.com. It is self-confident that its manufacturer is so strong that it can entice shoppers without having possessing to hint at what the business enterprise does. The brand name title in its personal way is a descriptor.

Value of a Domain Title

In advance of you look for and sign-up your finance domain title, you almost certainly want to know how a lot domain names normally value. Typically, area names value concerning $2 and $20 for every 12 months, dependent on particular and discount rates. This assumes there is up coming to no demand for your area name. More recent area name extensions, these types of as .application, are much more costly for the reason that they have only just gotten onto the industry.

There is no established price tag for domain names. If you want to acquire and promote domains, the rates differ fairly significantly. You can get an notion of the price ranges by browsing Afternic or GoDaddy Auctions.

If you want to buy a area name that a person else by now owns, then take a look at a domain identify broker services.






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Companies lag on gender diversity because they see ‘HR issue’ instead of ‘business issue’: Accenture CEO

As the pandemic strategies its 20th thirty day period and proceeds to upend get the job done across the overall economy, gals continue to be “radically underrepresented” in the money business, primarily in senior roles, according to a report unveiled by McKinsey & Company on Thursday. 

Girls surveyed by McKinsey acknowledged acquiring some assist and versatility amid the COVID-19 pandemic, but they struggled with obstacles to promotion and heightened treatment duties at property when compared to male colleagues, the report uncovered.

In a new job interview, Accenture CEO Julie Sweet, the head of a consulting giant that performs with a lot more than a few-quarters of World-wide Fortune 500 businesses, told Yahoo Finance that slow progress on gender variety at some corporations springs from a lack of sustained dedication. 

Companies produce success when they lend gender diversity plans the same relevance as company goals, she claimed.

“Too normally, corporations — and many companies come to us to talk about what to adjust — say that this is someway an HR difficulty, as opposed to a small business issue, which we all own,” she says.

“Mainly because you can find a variance among a motivation, and getting fully commited and an motion prepare,” she adds. “What we obtain is that it really is not about a deficiency of excellent intention. But the aims that are desired to be set are not constantly set in the similar way that you established your revenue goals.” 

The difficulties that confront women of all ages in the workforce have been exacerbated by the COVID-19 pandemic, because caregiving and childcare tasks normally slide mainly to ladies. As of March, just one in 4 females have been thinking about leaving the workforce amid COVID-19, as opposed to 1 in five males, a McKinsey study located in March.

Throughout corporate America, ladies hold 28{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} of senior-vice-president positions and 21{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} of C-suite positions, in accordance to a various research produced by McKinsey very last yr.

Accenture, which counts more than 57,000 workers throughout the U.S., employs a workforce produced up of 60{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} adult men and 40{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} females, according to variety figures on its web page.

The illustration of women of all ages declines in senior roles at the enterprise. Women make up about 28{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} of running administrators and 33{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} of executives, the stats present.

Sweet acknowledged the issue of addressing gender variety as the pandemic helps make performing lifetime extra tough for ladies.

“This is a put the place, while we’re not building the progress that we would like to make, and frankly, the pandemic established us back again due to the fact of the very general public troubles, that in difficulties of females, I am much more optimistic about not only the dedication across the globe, and we’re in each and every sector, but also the willingness to take steps,” she states. 

Julie Sweet CEO of Accenture attends the Fortune Global Forum in Paris, France, November 19, 2019. REUTERS/Gonzalo Fuentes

Julie Sweet CEO of Accenture attends the Fortune Worldwide Discussion board in Paris, France, November 19, 2019. REUTERS/Gonzalo Fuentes

Sweet began her occupation as an legal professional at the superior-driven organization Cravath, Swaine, & Moore and later joined Accenture as a standard counsel. In 2019, she grew to become CEO.

Talking to Yahoo Finance, Sweet explained a shared emphasis on range as component of the romance that Accenture kinds with customers.

“We imagine that we will all make progress on inclusion, variety by operating together,” she says.

“It really is actually a main section of our technique,” she adds. “We contact it 360 degree worth … — to collaborate with our purchasers like joint staff resource groups [and] functions because we believe it truly is a shared responsibility.”

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14 Ways Companies Can Promote Financial Wellness Among Employees

In modern a long time, corporations have stepped exterior the boundaries of standard gains to offer new benefits this kind of as adaptable schedules, coated tech expenses and even paid out health club memberships. Assisting your workforce associates maintain excellent physical overall health can be helpful for equally them and the company but what about their economical health? 

While it may possibly feel like your business already promotes fiscal wellness by providing a paycheck, there are added ways leaders can support their employees sense much more self-confident and protected in their fiscal predicaments. Immediately after all, when a company’s staff are not nervous about their funds, they can bring a lot more attention and engagement to their get the job done. Below, 14 associates of Forbes Finance Council share successful methods company leaders can enable their team customers accomplish fiscal overall health and safety.

1. Offer Obtain To Instructional Assets

Organization leaders can categorical care and concern for their staff members by giving them accessibility to instruction. Deliver tangible training and methods, including accessibility to advisors in the fiscal management industry, to support workers in their financial investment choices and price savings techniques. It’s a real get-win for an corporation. – Leslie Heimer, American Liberty Mortgage | Stockworth

2. Get Them Engaged Early On

Money wellness starts off with economical training. Just about every of our new employees goes as a result of business onboarding that incorporates education on general stock market place fundamentals as perfectly as the fundamentals of the wine-investing current market. On their completion of the operating method, they obtain $1,000 in their corporation portfolio. – Anthony Zhang, Vinovest

Forbes Finance Council is an invitation-only corporation for executives in effective accounting, economical scheduling and prosperity management firms. Do I qualify?

3. Present Merit-Dependent Rewards

There are many strategies to endorse economic wellness amid staff. Some of my favorites include economic literacy coaching, merit-centered benefits and tax-advantaged rewards that match your business and staff. You really should also persuade employees to save it may well not be well-known, but possessing an crisis fund will by no means go out of style. – Patrick Rood, Rood Money Products and services

4. Simply call On Your Have Professional Staff

Enterprise proprietors must leverage their very own retirement system advisors or banking partners. In most cases, these companions are incentivized to offer extra assets for their enterprise clients’ employees. I have observed financial institutions that present a totally free selection to offer unique money wellness systems geared toward encouraging personnel be much more financially educated. – John King, Dakota Wealth Management

5. Assist Them Meet Their Main Charges

Aside from the noticeable technique of spending every person greater wages, employers can help relieve some of their employees’ big expenditures. Kid care is an expense that can prohibit fiscal wellness. Allow for get the job done-from-dwelling or incremental paid time off in situations of want. Get hold of group pricing for quite a few expenses, associate with absolutely free/lowered resources and present personnel instruction. Lowering get worried and rising stability is important. – Karin Oceguera, Household Education & Support Expert services

6. Get the job done To Guarantee A Fewer Tense Office

Employers want to be proactive. This will not only enable them keep crucial workforce but also enable them recruit A gamers. Presenting various fiscal well-remaining services, tracking engagement and sustaining metrics and sensible goals for workers will direct to a much less demanding ecosystem, ensuing in extra successful employees. It is a acquire-get scenario. – Morris Kupfer, HighRadius Corp.

7. Give Just one-On-One Aid

Business enterprise leaders can deliver ongoing education and learning about all phases of lifestyle and way of life variations. Insurance, investments and possibility administration are important accomplishment aspects. The environment that the education and learning is shipped in is vital as properly. Funds can be complicated for personnel, so there ought to be open communication with a blend of just one-on-one particular support on organization time. – Mike McGlothlin, Ash Brokerage

8. Practice Open-Book Management

We follow open up-reserve management, demonstrating personnel all of the numbers and conveying how every employee can influence the financials. It opens lots of conferences and discussions all-around budgeting, cash flow and charges that employees can then use to their own financial scheduling. A lot of of our youngest employees check with the greatest thoughts and are keen to understand fiscal planning tactics. – Robin Campana, Acumera, Inc.

9. Make It Easier For Them To Obtain Money

Analysis has revealed that assisting personnel with economical wellness can increase retention and high-quality of operate and generate happier workplaces. Businesses can advertise money wellness by supplying these kinds of gains as bank accounts that are right embedded into their payroll method and access to minimal-fee selections to cover unforeseen expenditures between paydays. – Jeanette Fast, Gusto

10. Organize Lunch-And-Learns

Our business supplies lunch-and-find out classes on a variety of fiscal matters. We occur in, give a meal and discuss prevalent money preparing principles. It’s a earn-gain for the employer, and it presents us with a captive audience and the possible to satisfy new people who could use our solutions. – Matthew Cuplin, Midwest Money Team

11. Guarantee They’re Absolutely Mindful Of The Available Rewards

One way a enterprise can boost fiscal wellness amid employees is by retirement education. Employers can keep in-depth training classes on their company’s retirement offerings—such as a 401(k) strategy with matching employer contributions—encouraging personnel to commence conserving now. – Jim Poolman, Indexed Annuity Leadership Council

12. Request Them What Help They Will need

Corporations can promote monetary wellness by listening to employees’ wants and addressing them. This can acquire a lot of sorts, from versatile schedules and offering dependent treatment positive aspects to providing educational chances and situations that aid establish a staff society. As staff members continue on to expand, have entertaining and realize a good do the job-daily life harmony, the firm also grows and has a lot less turnover. – Monica Jalife, Pinnacle Associates

13. Lead To Their HSAs

Support your staff help you save revenue on health care costs and work towards better monetary wellness by contributing to personnel wellness financial savings accounts. Even smaller contributions can make a large effect. Typically, employer contributions present the excess press for staff to choose HDHP/HSA coverage, which unlocks premium financial savings, various tax positive aspects and an additional extensive-term investment decision automobile. – Tom Torre, Bend Economic

14. Incentivize Participation In Retirement Discounts Plans

To encourage economic wellness for employees and ease their connected stress, organizations should really give an alternative for retirement discounts that incentivizes participation. The most common illustrations are a 401(k) account with an employer match or once-a-year earnings-sharing contributions. Supplying this alongside good expense alternatives can reduce prevalent worries people today have about their monetary long run. – David Haass, Elite Insurance coverage Associates, LLC