11 of 2024

 Newsletter No 11/28 March 2024




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Police seize over R30 million worth of fake goods

Sunday, March 10, 2024:- The South African Police Service (SAPS) says it remains relentless in its efforts to uproot the illicit trade in counterfeit goods, as it has a detrimental impact on the economic growth of the country.

The police services’ National Counterfeit Unit led another integrated takedown operation in the Johannesburg CBD on Friday, which resulted in the seizure of counterfeit goods worth over R9 million.

The team comprised of SAPS members, officials from the South African Revenue Services (SARS), Gauteng Traffic, Brand Protectors, Crime Prevention Wardens and security companies.

During the operation, the team seized over 11 000 counterfeit items such as clothing apparel, shoes, watches, handbags and sunglasses. 

“This was the third takedown operation in Gauteng province in the last four weeks,” the SAPS said in a statement. 

In addition, the team also seized over R8 million worth of counterfeit goods during a takedown operation in Rustenburg, in the North West province last week.

“This brings the total value of counterfeit goods seized for the past four weeks to over R30 million.”  – SAnews.gov.za










Edgars Zimbabwe proposes moving from Zimbabwe Stock Exchange to Victoria Falls Stock Exchange for closer links to US Dollar

T.N. Sibanda, Chairman of the Board of Directors
Bulawayo, Zimbabwe (01 March 2024) – As we navigate the dynamic landscape of the business environment, I would like to bring to your attention some pivotal developments that warrant careful consideration for the future of Edgars Stores Limited. Historically, the Edgars business has heavily relied on ZWL transactions; however, recent times have witnessed a notable surge in foreign currency transactions, a trend mirrored across the broader economy. Moreover, the Government’s extension of the multi-currency regime until 2030 underscores the growing necessity for USD capital within our Company.
The performance of Edgars in the past year has been subject to exchange rate volatility and market liquidity fluctuations in both ZWL and foreign currency. However, management remains optimistic, steering the business towards expanding its physical and online presence, coupled with strategic merchandise procurement initiatives reliant on USD access. Consequently, the Board has proactively explored various avenues to secure access to USD to drive the business. Our commitment to this pursuit continues as we explore options to fortify the business’s access to USD capital and consider migrating to USD reporting, ultimately enhancing sustainability and Shareholder value.
To bolster our growth momentum and safeguard Shareholder value, the Board is proposing the migration of the Company’s share capital from the Zimbabwe Stock Exchange to the Victoria Falls Stock Exchange. This strategic move is anticipated to unlock several advantages, including:

  • Access to USD Capital for expansion initiatives, driving business performance, and ultimately enhancing Company and Shareholder value.
  • The enabling of free dividend and share disposal proceeds repatriation to foreign Shareholders.
  • Favourable tax incentives, including zero capital gains tax and a 5% withholding tax for foreign investors, thereby boosting Shareholder returns.
  • Reporting financial performance in USD providing stability and mitigating complexity associated with hyperinflation adjusted ZWL reporting.
  • Minimised exchange risk for Shareholders due to local currency depreciation by providing an accurate USD-based benchmark of the Company’s value.
  • Mandated USD dividends and the receipt of USD as compared to ZWL on share liquidation, enabling the Shareholders to receive the true value of their holdings.
  • Lower trading costs of 2.31% compared to 4.63% on the ZSE which enable the Shareholders to retain more of their value when they exit or enter their trading positions.

In light of these compelling reasons, the Board supports the migration of Edgars from the ZSE to the VFEX. This move aligns with our commitment to fostering sustained growth, maximizing Shareholder value, and positioning the Company for success in an evolving economic landscape. https://www.edgars.co.zw/articles/2024/03/01/edgars-circular-to-shareholders   Shoes & Views








Going for Gold, Gert Johan Coetzee Stuns at 26th SA Style Awards with Show-Stopping Designs


The 26th annual SA Style Awards, held on March 17th at the @Sandton Hotel, was a night of glitz, glamour and show-stopping fashion. But among the many talented designers, one name stole the spotlight: Gert-Johan Coetzee.

Coetzee’s exquisite designs left a lasting impression on the red carpet, with personalities and business adorned in his creations. From breath-taking gowns adorned with intricate beadwork that exuded power and sophistication, Coetzee’s artistry was undeniable. 

A Night of Red Carpet Triumphs

Adding to the night’s nostalgic flair, Mimi Mahlasela turned heads in an archival piece – the very same dress her character wore on her wedding day on the hit soap opera, 7de Laan. This vintage gown, a timeless treasure from the show’s costume department, served as a subtle nod to Mahlasela’s on-screen persona while showcasing her enduring sense of style and sustainable fashion. 

Sydney Seethal, sister to Grammy award-winning artist Tyla, commanded attention on the red carpet in a show-stopping design. The dress, a testament to innovation, featured a glittering beadwork masterpiece that cascaded down her figure. However, the true eye-catcher was the bodice. Crafted using cutting-edge 3D printing technology, it offered a unique, sculpted look and incorporated cascading drops of gold, adding a touch of unexpected luxury to the overall ensemble. 

Founder of the SA Style Awards, Jillian Grogor, embodied pure elegance in a breath-taking Gert Johan Coetzee creation. The champagne-hued gown, meticulously hand-beaded by Coetzee’s artisans, shimmered with a soft radiance under the red-carpet lights. The intricate beadwork likely formed delicate patterns or motifs, adding a touch of textural intrigue to the otherwise smooth and sophisticated silhouette. This exquisite piece perfectly captured Coetzee’s signature blend of glamour and meticulous craftsmanship, making Jillian Grogor a true style icon for the evening. 

Channelling royalty, Nadia Nakai lit up the red carpet in a custom Gert-Johan Coetzee masterpiece. The dress, a testament to Coetzee’s expertise, cascaded with luxurious drapes fashioned from meticulously placed beads. The shimmering effect exuded an aura of sophistication. Completing the regal look, Nakai sported a dazzling tiara, its encrustation of ruby crystals adding a pop of vibrant colour and undeniable luxury. 

Melina Lambrakis stunned in a flowing gold gown. The dress featured a daring side slit that cascaded down her leg, while a deep décolletage accentuated the overall glamour. The true marvel, however, lay in the exquisite details. Delicate beaded leaf appliqués adorned the bodice and likely trailed down the skirt, adding a touch of nature-inspired elegance to the bold silhouette. This winning combination of sensuality and intricate craftsmanship solidified Lambrakis’s well-deserved red-carpet triumph. 

Coetzee’s success at the SA STYLE AWARDS is a testament to his exceptional talent and unwavering dedication to his craft. He continues to push the boundaries of South African fashion, captivating audiences with his innovative designs and meticulous attention to detail. 

About SA Style Awards 
Powered by Plascon SA and The Mall of Africa, the SA STYLE AWARDS honours individuals across various industries who have made an indelible mark on the African soil and become powerful vehicles for change globally. Coetzee’s triumph highlights the incredible depth of talent within the local fashion industry. 

About Gert Johan Coetzee
Gert Johan Coetzee is a renowned South African fashion designer known for his luxurious, dramatic, and impeccably crafted garments. He has garnered international acclaim for his unique aesthetic and his ability to make a lasting statement with his designs.

Fashion, Lifestyle, Trends







We Discard 92 Million Tonnes of Textile Waste That the Industry Generates Annually

From clothes that do not fit anymore, items that have gone out of fashion, or even clothes that have never been worn, consumers discard enormous quantities of fashion items each year. In America alone, the average person throws away around 81 pounds (37kg) of clothing yearly. This leads to a staggering 85% of textile produced in the country ending up in landfills or being burned. 






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