GRACIA BAMPILE: I WANT WOMEN TO FEEL BOLD
DURING 2020, businesses in several industries suffered financial losses. Companies were forced to scale down or shut down.
While there are a few businesses slowly trying to get back on their feet, there are some that will most likely never recover from the devastating blow of the pandemic.
Gracia Bampile, founder of Haute Afrika, managed to not only stay afloat but even opened a new retail store in Rosebank.
This formidable entrepreneur, who holds an international relations degree, has no formal fashion training background, yet she
has made a name for herself as a trendsetter in the industry.
Growing up, she spent hours watching her seamstress grandmother make clothes, until she mastered the art.
As she grew older, she became concerned about how people didn’t like to wear African print designs, especially as day-to-day wear.
She says people had a perception that they could only wear African print clothes when attending events. So, she decided to disrupt the norm.
In 2015, she founded Haute Afrika, when applying for a job in the UN.
“I really didn’t think I was going to get the job so I decided I would not sit around waiting. In the meantime I started Haute Afrika.
“To my surprise I got a call that I had got the job. At the same time, clients started ordering outfits,” says Bampile.
She travels the continent in search of high quality materials to create designs inspired by Africa’s history, heritage and stories for Africans, from Cape to Cairo.
Even though most of the fabrics are sourced from the continent, they manufacture their own fabrics in South Africa when creating exclusive collections
“I want women to feel bold, confident and empowered when they wear my clothes.
“They need to feel like the world is their oyster” says Bampile.
She has dressed some of Africa’s biggest stars.
Her collection wows fashion lovers and she’s been featured on BBC World and Vogue.
“Stars we’ve dressed are Boity, Maps Maponyane, Jessica Nkosi , Mihlali , Ayanda Ncwane, Kwesta, Natasha Thahane and Cindy Mahlangu, among so many amazing others.
“It’s surreal that we got featured on both BBC World and British Vogue in one year. Super grateful.”
“All because of the great work we’re doing in ensuring we don’t just make clothes but tell the African story and connect with the world through fashion.”
NEDBANK expects its full-year earnings to decline by as much as 60 percent as it continues to feel the impact of the Covid-19 outbreak in its operations.
In a second trading update released on Friday, the group said it forecast its headline earnings per share (Heps) for the year to end December to decline 55 to 60 percent (1 042 cents to 1 172c a share, down from 2605c) last year.
Its basic earnings per share (Eps) is expected to fall by between 69 and 74 percent, to between 650c and 775c compared with last year’s Eps of 2500c.
“The larger decline in basic Eps compared to Heps can be attributed to the R750m impairment of the group’s investment in Ecobank Transnational Incorporated (ETI) as disclosed in our first half 2020 results and accounting for our share of ETI’s impairment of their own goodwill as announced in their nine-month 2020 results in November of R528m, as well as impairments relating to Nedbank’s own goodwill as a result of lower value-in-use calculations as a result of a weak operating environment given the impact of Covid-19 of R345m,” the bank said.
Nedbank expected its Heps and Eps to decline by more than 20 percent in the first trading update released on December 2. It reported an increase of 202 percent in impairment charges to R7.68 billion in its results for the six months to end June 2020.
Nedbank said the second wave of the Covid-19 pandemic since December had proved worse than the first wave. The lender added it continued to be vigilant and remained on high alert while observing Covid-19 health protocols.
“As a purpose-led organisation, our primary focus remains on ensuring the health and safety of our stakeholders, including staff and clients, and serving and supporting clients in good standing in managing their finances through this difficult period and in so doing providing support economy,” the group said.
Nedbank said it remained resilient and prepared to respond and manage the emerging risks as well as monitoring the impact of lockdown restriction on its clients and the economy as it navigates the challenges of the pandemic. The group welcomed the easing of the lockdown to level 1 on March 1.
“Through these difficult times, the group balance sheet remains liquid and well capitalised at levels above board-approved minimum targets and well above the minimum regulatory requirements,” the group said.
Nedbank expects to release its fullyear results on March 17.
Its share price rose 0.86 percent to R138.26 on Friday. to the