The number of international tourists arriving in South Africa has surged by 18,7% in the last quarter of the 2015/16 financial year, compared to the previous year, according to the Department of Tourism’s annual report. Domestic tourism numbers are also on the rise with this number likely to grow substantially over the next two years, according to the report. Unfortunately, the rise in tourism has also led to a substantial increase in the instances of fraud in this sector.
Some high profile companies, including General Electric, Adobe, Netflix and Intel recently announced that they were abandoning the traditional annual performance appraisal system, leading many to assert that performance management systems are heading towards extinction.
For more than 40 years, Mazars has been working with private businesses, financial institutions, governments and public organisations across the African continent.
The Economist Intelligence Unit wrote a series of articles sponsored by Mazars focusing on five challenges facing SMEs venturing abroad for the first time. Indeed, the challenges of operating in an unfamiliar environment are daunting, but offer tremendous potential.