Daily Archives: February 23, 2017

YPO Launches Second-Annual Innovation Week in May 2017

DALLAS, 23 February 2017 – For the second consecutive year, YPO will host Innovation Week, a series of more than 70 events around the world designed to bring together the world’s most dynamic innovators for a chance to connect, challenge conventional thinking and gain actionable, applicable insight.

YPO, the world’s premier chief executive networking organization, will host innovation events all across the globe including Melbourne, Tel Aviv, New York, Toronto, Silicon Valley, Hong Kong and more the week of 8-12 May 2017. The mission of YPO Innovation Week is to drive innovation across a diverse range of industries through signature events, live two-way interactive video casts and livestream events across more than 30 countries.

“Every business leader needs to focus on innovation to grow and thrive,” says YPO Innovation Week Chair Keith Alper, Founder and CEO of GenieCast. “YPO Innovation Week will provide hundreds of opportunities for members to learn from each other and from the most well respected global innovators, disrupters, inventors to help integrate innovation at the most strategic level across all businesses. Combining research, technology and business leadership, Innovation Week is the one place where the world’s most innovative companies share their inspiration and insights.”

YPO Innovation Week offers YPO business leaders with learning and networking opportunities to infuse innovation into their companies, form strategic partnerships, and positively affect their businesses and the communities in which they work. YPO leaders will be able to leverage new partnerships in innovation, infuse innovation into the heart of their company culture, and convert ideas into actionable plans.

The week will feature idea jams, workshops, live-streamed panels, insider company tours, global conference calls, TED-style presentations and debates. Highlights include:

  • Igniting Innovation in Australia, 8-9 May 2017, Melbourne, Australia: Kicking of Innovation Week, this event will feature top growth innovators and their best practices on how to ignite an innovation culture within business and understand the common forces that will impact the future.
  • Silicon Summit 2017, 8-10 May 2017, Silicon Valley, California, USA: Leading entrepreneurs and venture capitalists at the ground zero of modern invention will examine how technology can advance cutting-edge concepts.
  • InnovNation: Israel Innovation Experience, 9-11 May 2017, Tel Aviv, Israel: Entrepreneurial innovators will explore the questions every startup has and how communities – like Israel with the highest concentration of startups in the world – can work together to build the next great revolution.
  • The Art of the Start – Accelerating Your Startup Growth, 10-11 May 2017, Toronto, Ontario, Canada: Trailblazers and experts from the trenches will share their insights about how to optimize the speed and trajectory of a startup for success at every level.
  • Grand Finale for YPO Innovation Week, 11-12 May 2017, New York, New York, USA: World-class experts in finance, hospitality and technology will close the week with in-depth sessions and a “shark tank” style pitch contest.
  • Disruptive Business Models in Asia, 12 May 2017, Hong Kong, China:  the grand finale of YPO Innovation Week in Asia as members come together at the Hong Kong Stock Exchange to ring the closing gong.
  • For more information, visit the YPO Innovation Week website.           


The premier leadership organization of chief executives in the world.

YPO is the global platform for chief executives to engage, learn and grow. YPO members harness the knowledge, influence and trust of the world’s most influential and innovative business leaders to inspire business, personal, family and community impact.

Today, YPO empowers more than 24,000 members in more than 130 countries, diversified among industries and types of businesses. Altogether, YPO member-run companies employ more than 15 million people and generate USD6 trillion in annual revenues.

Leadership. Learning. Lifelong. For more information, visit YPO.org.

Linda Fisk
Office: +1 972 629 7305 (United States)
Mobile: +1 972 207 4298

Nersa approves 2.2% tariff increase for Eskom

Pretoria – The National Energy Regulator of South Africa (Nersa) has allowed Eskom to raise tariffs by 2.2% in the 2017/18 financial year.

“The allowed revenue of R205 214 million for the 2017/18 financial year will now result in a percentage increase of 2.2%,” Nersa chairperson Jacob Modise said on Thursday.

Addressing the media in Pretoria, Modise said the allowed revenue is Eskom’s full year revenue, as determined in the Multi-Year Price Determination (MYPD3) decision.

In the MYPD3 decision, Nersa approved an 8% average increase per annum for a period of five years, starting from the 1st of April 2013 to the 31st of March 2018.

Modise said the reason for the lower percentage increase is due to the base adjustments made in the preceding years as a result of the approved Regulatory Clearing Account (RCA) balances for Eskom.

He emphasised that the decision on Eskom’s allowable revenue was not new as it was made in February 2013 as part of the MYPD3 decision.

“You will recall that as a result of the RCA reconciliation, the Energy Regulator approved 12.7% for 2015/16 and 9.4% for 2016/17 instead of the average increase of 8%. The 2.2% increase, taking into account the adjustments already given, maintains the approved allowable revenue for the last year of MYPD3,” he said.

Modise said the only decision that needed to be considered by Nersa on Thursday was the retail tariffs structural adjustments that arise out of these revenues to enable Eskom to table in Parliament by 15 March 2017, as required by the law.

“The only new matter that was considered by the Energy Regulator today was the potential financial harm that may be occasioned by Nersa not being able to process new RCA applications as a result of the interventions of the Gauteng High Court.

“In this regard, Nersa has decided to allow Eskom to make a new application that will be considered in accordance with Section 4 of the Electricity Regulation Act, should they wish to, which application will be considered through a full public consultation process.”

Modise said the approved revenues of R205 214 million will be able to cover all of Eskom’s allowed costs, plus a return to the value of R33 667 million, as per the MYPD3 decision.

“The decision by the Gauteng High Court has resulted in Nersa being unable to process RCA applications until its appeal has been heard and decided upon,” Modise said.

Nersa is appealing the North Gauteng High Court judgment in which the court set aside the regulator’s decision to grant Eskom a tariff increase.

The decision under review concerns Nersa’s approval of the RCA application for the tariff year 2013/14, which culminated in a 9.4% increase in the average tariff for standard customers for the 2016/17 financial year.

“Nothing prevents Eskom from making an application to Nersa for relief should it consider any possible cash flow risks and implications thereof on its financial sustainability.

“The Energy Regulator would, upon receipt of such an application, embark on a public consultation process as required by the law before making its decision,” Modise said.

Source: South African Government News Agency

Heads to roll over unissued TVET certificates

Pretoria – The Portfolio Committee on Higher Education and Training has called for disciplinary measures against the officials responsible for delays in issuing certificates to students who have graduated from Technical and Vocational Education and Training (TVET) colleges.

Committee chairperson Connie September said the committee has noted the efforts of Higher Education and Training Minister Blade Nzimande in trying to resolve the matter. However, the delays were unacceptable.

“The Department of Higher Education and Training, Umalusi and the State Information Technology Agency (SITA) do not seem to have a sense of accountability on this matter and seem to blame each other.

“The fact that students do not have certificates negates government’s objectives to have skilled young graduates in order to alleviate the poverty challenge. The policy that certificates should be produced in three months [after graduating] is simply not being adhered to,” September said.

The department, Umalusi and SITA were in Parliament on Wednesday to brief the committee on challenges in issuing certificates.

The members of the committee expressed frustration and dissatisfaction over the backlog in issuing certificates, which has not been cleared since 2007.

“This is a travesty of justice. Action must be taken against lecturers who do not submit marks, resulting in students having to rewrite models. The committee will engage the Departments of Telecommunications and Basic Education on what steps can be taken to address the situation,” September said.

She said the Department of Higher Education and Training, Umalusi, colleges and SITA will be called before the committee again to provide an update report on how they are adhering to policy.

Source: South African Government News Agency

North West on high alert amid heavy rains

Pretoria – The North West Provincial Disaster Management Centre is on high alert as the province and the rest of the country experience continuous heavy rains.

North West MEC for Local Government and Human Settlements, Galaletsang Gaolaolwe, has dispatched a team of officials to various areas to assess the extent of the damage caused by recent heavy rains.

The officials have been sent to local municipalities including Ratlou, Kagisano-Molopo, Greater Taung, Ramotshere Moiloa, Mahikeng, Moses Kotane, Maquassi Hills and Matlosana.

The municipalities were worst affected, with most of the roads closed due to flooding.

MEC Gaolaolwe said the department has established a joint operation centre comprising representatives from district disaster management centres and all sector departments.

“The team meets daily to deal with cases as they get reported to the call centre. The team is on high alert to deal with any incidents that is likely to occur,” said the MEC.

The MEC also called on communities to take precautionary measures during this period as more rain is forecast for different parts of the province until the end of the week.

“Residents staying along flood lines and river banks must take precautionary measures and ensure that their families are safe during flooding, and they stay away from overflowing streams and rivers,” said MEC Gaolaolwe.

Safety tips

Do not cross rivers and swollen streams.

If your car gets stuck in a flood, get out and climb to higher ground.

Move valuables to safe buildings which are above flood level.

Switch off electricity at the supply point.

Move your animals to a safe place.

If evacuation is recommended, abandon your home immediately before your way out is cut off by flood water.

Never drive into water covering the road. The road might have been washed away.

Be aware of streams and drainage channels known to flood suddenly.

Use a stick to check the firmness of the ground before walking through moving water.

Source: South African Government News Agency