The News24 Business awards recognise excellence in corporate South Africa
We celebrate companies who work hard to deliver outstanding client service, while also changing the business landscape in South Africa with innovation and strategic leadership.
Using a unique set of criteria, we judged companies on a range of measures, including:
- A survey of more than 4 100 News24 subscribers and readers on their experience with insurers, banks and medical schemes, including their satisfaction with costs, client service and claims.
- Our financial reporting team's assessments of companies' platforms and products - along with their transparency in communication and their contribution to South Africa.
- An evaluation of companies' strategy, shareholder value created and business performance by our team of business journalists, as well as industry experts and analysts.
An actuarial consultant audited our assessments and the final rankings.
The News24 Business Awards were presented at a gala function on 14 March 2024 in Cape Town.
Company of the Year
Shoprite
The Company of the Year award recognises a JSE-listed business that has delivered strong returns for its shareholders over the medium term, while also excelling in innovation, operational effectiveness, and strategy.
Shoprite stood out on all these counts. It is pushing new frontiers and has revolutionised the local landscape, not only with online shopping and home delivery but also by launching a range of new businesses in different sectors.
The group is dealing with the realities of doing business in South Africa with pioneering approaches in areas of artificial intelligence, renewable energy and security management.
Shoprite CEO Pieter Engelbrecht accepts the award for Company of the Year. News24 Managing Editor Mpho Raborife presented the award. (Natalie Gabriels)
Shoprite CEO Pieter Engelbrecht accepts the award for Company of the Year. News24 Managing Editor Mpho Raborife presented the award. (Natalie Gabriels)
CEO of the Year
Andries van Heerden
The winning CEO has been at the helm of Afrimat in its present form since its listing on the JSE in 2006.
Since then, the company has been a stand-out performer in delivering shareholder returns and by maintaining strong annual profit growth. This was in large part thanks to Van Heerden's legendary dealmaking.
Originally a quarry company, he expanded into different areas of mining, including buying iron ore and phosphate mines.
The company has concluded no less than 14 acquisitions– all with cash and a negligible amount of debt. Today, Afrimat is a multi-commodity, black-owned miner – with businesses ranging from industrial and construction materials, bulk commodities and mining services.
Van Heerden is lauded in the industry for his entrepreneurial vision and boldness, while also delivering strong and sustained growth for Afrimat stakeholders.
Bank of the Year
TymeBank
The News24 Bank of the Year prize was awarded to TymeBank, which was judged on tough criteria.
It not only had to achieve excellent scores for its client service, platform and value proposition among its customers, but also had to impress our journalists with its strategic positioning and innovation.
TymeBank managed to build a customer base of more than eight million and achieve profitability in less than five years. It moved fast with a determined and unconventional approach to banking, and is now also growing in Southeast Asia.
TymeBank CEO and co-founder Coen Jonker receives the award for Bank of the Year. News24 senior journalist Garth Theunissen presented the award. (Natalie Gabriels)
TymeBank CEO and co-founder Coen Jonker receives the award for Bank of the Year. News24 senior journalist Garth Theunissen presented the award. (Natalie Gabriels)
Long-term Insurer of the Year
Old Mutual
Old Mutual received high satisfaction ratings among its clients that took part in a News24 survey. The News24 Business team also gave it high marks for how easy it is to understand its product offering, for its contribution to South Africa and transparency in communication.
Old Mutual Chief Risk Officer Richard Treagus accepts the award for Long-Term Insurer of the Year. News24 Business deputy editor Ahmed Areff presented the award. (Natalie Gabriels)
Old Mutual Chief Risk Officer Richard Treagus accepts the award for Long-Term Insurer of the Year. News24 Business deputy editor Ahmed Areff presented the award. (Natalie Gabriels)
Short-term Insurer of the Year
OUTsurance
OUTsurance is now the only company that has won a News24 Business Award twice. Again, as last year, it received very high client satisfaction scores in the News24 survey.
It also scored well in our own team's assessment of its products and how easy it was to understand its cover and claims processes. The company was also commended for its contribution to South Africa, as well as for its innovation and execution of strategy.
OUTsurance CEO Danie Matthee received the award for Short-Term Insurer of the Year. (Natalie Gabriels)
OUTsurance CEO Danie Matthee received the award for Short-Term Insurer of the Year. (Natalie Gabriels)
Medical Scheme of the Year
Bestmed
Bestmed received excellent ratings from its clients in a survey of more than 4 100 News24 readers, especially when it came to its claim process and communication. Our journalists also gave it a very high score for how easy it was to understand what is covered and for value for money.
Bestmed CEO Leo Dlamini, whose group won Medical Scheme of the Year, addresses the event. (Natalie Gabriels)
Bestmed CEO Leo Dlamini, whose group won Medical Scheme of the Year, addresses the event. (Natalie Gabriels)
(Natalie Gabriels)
(Natalie Gabriels)
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