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The 25-basis point interest rate cut by the South African Reserve Bank (SARB) was largely expected, given the prevailing low inflation and muted economic growth in the first quarter of 2025. South Africa’s GDP grew by only 0.1% in the first quarter, while inflation remained at the lower end of the SARB’s target range, at …
The Reach For A Dream 2025 Dream Raffle was officially launched today at Lazarus Motor Company, home of Jetour Centurion, with a brand-new Jetour as the grand prize. The event was attended by key stakeholders, staff, partners, and members of the media. Reach For A Dream is an inspiring South African non-profit which brings hope …
The Hot Dip Galvanizers Association of South Africa (HDGASA) has a distinctive ‘open door’ approach when it comes to educating and equipping micro-enterprises – small businesses – to embrace hot dip galvanizing, the widely preferred method of corrosion control for steel. “A great oak tree does not grow overnight. As an industry, we must remember …
This week, WesBank, in partnership with FNB, hosted EVolution, a first-of-its-kind industry event aimed at empowering fleet operators in South Africa in their drive towards electric mobility. Held at the iconic Kyalami Grand Prix Circuit in Johannesburg, the event provided a platform for meaningful dialogue, highlighting key insights and addressing key considerations for businesses looking …
Set between forested mountains and the sparkling Indian Ocean, the coastal town of Wilderness on South Africa’s Garden Route offers more than just a pretty view — it offers a lifestyle few places in the country can match. With its blend of eco-living, vibrant community, and prime real estate opportunities, Wilderness is quickly becoming one …
Perched on the sun-kissed slopes of the Helderberg Mountains and tucked away in the prestigious Stellenbosch Winelands, this rare 1.3750-hectare smallholding on Eikendal Road blends rural tranquillity with refined elegance. Boasting a luxurious French Provencal-style main residence and three exquisite self-catering guest units, the property offers the discerning buyer a unique lifestyle opportunity with strong …
In today’s competitive business environment, where trends shift rapidly and customer loyalty is hard-won, understanding the distinction between brand perception and brand reputation is the difference between building a brand that resonates or merely echoes. Mistake these two, and your strategies are likely to be misaligned, leaving the growth of your business on the table. …
Over a period of time I will show you the performance of money invested in two different ETF’s in two different Easy Equities investment accounts – TFSA and Taxed – to determine just how more desirable one is over the other. All savvy investors preach a similar mantra: Invest early Invest regularly Re-invest any dividends …
By Louis van Ravesteyn, Head of Agribusiness: Business and Commercial Banking, Standard Bank Group: Johannesburg, South Africa, 28 July 2025 – A soybean harvested in Mpumalanga today moves through a value chain more structured than it was a decade ago. It travels from farm to storage through coordinated channels, often under the oversight of commercial …
By Pamela Coke-Hamilton, Executive Director, International Trade Centre, and Benedict Oramah, President and Chairman, Afreximbank (www.Afreximbank.com).
The share of bilateral exports between Africa and the Caribbean, despite extensive shared history, has never surpassed 6%, according to an ITC and African Export-Import Bank (Afreximbank) study, leaving much room for growth of up to $2.1 billion within the next 5 years according to new studies. Key to this growth is adding value in priority sectors, such as minerals, processed food, , manufactured products, transport, travel and creative industries.
We're living in precarious times.
In an era marked by global economic uncertainty, geopolitical tensions and fragmented supply chains, Africa and the Caribbean are at a critical juncture.
Most Caribbean countries now face a blanket 10% tariff on (https://apo-opa.co/455uBCM) goods exported to their biggest trading partner, the United States – which takes 40% of its total exports. The so-called reciprocal tariffs on African nations (https://apo-opa.co/4lIyzZ7)ranges from 10-50%, with Lesotho facing the single highest tariff of all US trading partners, nullifying preferences granted through the African Growth and Opportunity Act (AGOA).
These are real challenges, especially for smaller firms that are having to adapt with little time and often scarce resources. But there are also promising prospects on the horizon—if we dare to seize them.
Africa, for one, is now moving into full, accelerated implementation of the African Continental Free Trade Agreement (AfCFTA), arguably the biggest decision made by African Heads of Government in six decades. This treaty has the power not only to revolutionize African trade and development, but also to equip African countries with stronger negotiating power in multilateral arenas—therefore boosting their collective ability to change the terms of global trade.
The Caribbean, with its smaller, remote and import-dependent economies, is one of the region's most vulnerable to external shocks, whether from tariff escalations, climate disasters or supply chain disruptions. But it also has a chance to invest in long-term stability and economic growth by diversifying exports and trading partners, processing goods before export to retain more value, and strengthening regional and international trade ties.
While many are taking a wait-and-see approach on what this next phase of global trade will look like, for Africa and the Caribbean, this is an approach that neither can afford. With the longstanding sociocultural history shared by the two regions, the time is ripe to forge far deeper ties through mutually beneficial, trade-led economic growth and development—and serve as a model of South-South cooperation that inspires others to follow in their footsteps.
Investing in interregional, value-added trade
Despite efforts at regional integration, trade between Africa and the Caribbean remains minimal. ITC data shows that bilateral trade has never exceeded 6% of total exports for either region. In fact, African exports to the Caribbean have declined since 2014 and have been close to 0.1% since 2020, while Caribbean exports to Africa remain volatile, from just 0.8% of total exports in 2020 to 2.3% in 2022.
There is room to grow, from the current $729 million in interregional trade to potentially $2.1 billion within the next 5 years, if trade barriers are slashed and investments are made in key sectors.
A formalised trade corridor could reduce regulatory divergence and non-tariff barriers. For instance, Caribbean rum exporters currently face an 88% tariff when selling to African markets—a significant barrier to growth.
But removing or lowering trade barriers alone is not enough.
Access to trade and Investment finance are vital for tapping into the major untapped growth potential in trade in value-added goods. This is critical for priority sectors like minerals and metals, processed food and animal feed, manufactured products, travel, transport and creative industries, where the regions have comparative advantages and synergies are possible. Trade between the regions currently relies heavily on unprocessed commodities, which reflects missed opportunities for industrial collaboration, innovation and economic diversification.
Afreximbank's presence in the region, through its Barbados office established about two years ago is set to significantly boost trade between the two regions. This is further strengthened by the ongoing project to create the Afreximbank African Trade Centre (AATC), and the initiative to create the CARICOM Eximbank – an Afreximbank subsidiary. Additionally, the CARICOM Payment and Settlement System (CAPSS), being developed by Afreximbank and CARICOM central banks, will deepen and improve efficiency of intra-CARICOM payments in national currencies. Through its integration with the Pan-African Payment and Settlement System (PAPSS), CAPSS will accelerate integration of financial systems of the two regions while boosting Africa-Caribbean trade and investments.
In the fast-growing creative economy, for instance, both regions already have longstanding traditions in textiles, ceramics and woodwork, and can build on their shared cultural heritage. The collaboration between African and Caribbean designers, musicians and artists also offers significant potential for growth.
Afreximbank Creative Africa Nexus (CANEX) has highlighted fashion, design and crafts as a priority value chain, and has doubled programme funding from $1 billion to $2 billion for the next three years, aimed at providing infrastructure, financing and resources to scale Africa and diasporic creative industries globally. The Bank is also developing a $500 million private equity film fund to support African filmmakers. These efforts reflect the scale of ambition required to transform the creative industries into global growth engines.
Breaking bottlenecks
To take advantage of these economic growth opportunities, foundations need to be laid. The major hurdles in enhancing Africa-Caribbean trade include weak institutional frameworks, logistical inefficiencies and infrastructural gaps. Despite their geographic proximity—just 1,600 miles apart—the lack of direct transport links and weak regulatory frameworks make trade between the two regions cumbersome.
Logistics, unfortunately, remains a major bottleneck. ITC data show that 57% of unrealized trade potential stems from logistical challenges. Both regions score poorly on the logistics index, according to the World Bank, ranking among the lowest in the world in terms of transport efficiency. Investing in interregional infrastructure will be key, including direct maritime and air transport links, improving ports and enhancing digital infrastructure.
For example, the Afreximbank has an ongoing $3 billion credit facility for CARICOM countries, to boost trade infrastructure and the competitiveness of small businesses. These are the types of arrangements, when replicated, that make a difference in the long term.
Empowering small businesses to seize the moment
But all of this could be for naught unless both regions' small businesses are empowered to act and seize these opportunities for themselves. The Strengthening AfriCaribbean Trade and Investment Project, an initiative spearheaded by Afreximbank and the ITC, is forging vital links between the private sectors of Africa and the Caribbean. This ambitious endeavour aims to cultivate not only strategic commercial partnerships but also cultural connections. In collaboration with the Caribbean Private Sector Organization and the African Business Council, the project empowers both regions to unearth business opportunities and stimulate business-to-business exchanges, paving the way for a dynamic synergy to elevate the economic landscape of both Africa and the Caribbean.
Small businesses are the backbone of the African and Caribbean economies but remain underrepresented in trade. The first-ever Global Small and Medium-sized Enterprises Ministerial Meeting, was hosted by ITC and the Government of South Africa in Johannesburg this month, in the year of South Africa's G20 Presidency, which positioned small businesses as key players in global trade reform. Afreximbank enabled the participation of 15 ministers to attend, 10 from Africa and five from the Caribbean. Days later, the AfriCaribbean Trade and Investment Forum (ACTIF) will kick off in St. George's Grenada from 28 to 30 July 2025, where the work to increase trade and investment between the two regions will continue. To participate, please visit https://ACTIF2025.com.
Our alliance is more than just a response to global uncertainty; it is a blueprint for inclusive, resilient and opportunity-driven trade in the 21st century. Together, Africa and the Caribbean can showcase South-South trade as a solution in a time of great change.
Distributed by APO Group on behalf of Afreximbank.
Coca-Cola Beverages Africa (CCBA) (www.CCBAGroup.com) has invested R365m in a new state-of-the-art bottling line capable of producing 72,000 bottles per hour at its plant in Midrand, South Africa.
The high-speed production line marks a South African first, producing Bonaqua Pump Still 750ml and Powerade 500ml packs with an innovative sports bottle cap. Beyond this milestone, the line will also produce Bonaqua Still in 330ml and 500ml packs, further driving the company's efforts to expand its hydration category. Underscoring a commitment to innovation, the line will additionally produce the recently launched Powerade Springboks Edition.
“By launching this new line, we strengthen our ability to meet growing consumer demand and create shared value across the local value chain, including for our customers and communities,” said Moses Lubisi, Manufacturing and Technical Director at Coca-Cola Beverages South Africa (CCBSA), a company in the CCBA group.
“Importantly, this investment reaffirms the Coca-Cola system's local approach – we produce locally, distribute locally and, where possible, source locally.”
“At CCBA, our passion for refreshing the continent drives everything we do,” said Sunil Gupta, Chief Executive Officer of CCBA. “This new production line in South Africa represents a key step in our ambitious growth plans in all our markets on the continent. It enhances our ability to meet consumer needs while reinforcing our commitment to delivering reliability and top-quality beverages across Africa.”
To help support the company's environmental goals, the new production line features advanced technology to optimise water and energy use. Additionally, the line required skills training for employees, contributing to the development of a future-ready workforce for both the business and the country.
Distributed by APO Group on behalf of Coca-Cola Beverages Africa.
ISSUED BY:
Motshidisi Mokwena
Head: Reputation and Communication Coca-Cola Beverages South Africa
Tel: +27 83 306 0349
Email: mmokwena@ccbagroup.com
Keli Fernie
Head: Reputation and Communication Coca-Cola Beverages Africa
Tel: +27 82 419 8766
Email: kfernie@ccbagroup.com
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About CCBA:
CCBA is the eighth largest Coca-Cola authorised bottler in the world by revenue, and the largest on the continent. It accounts for over 40% of all Coca-Cola ready-to-drink beverages sold in Africa by volume. With over 18,000 employees in Africa, CCBA group services more than 735,000 customers with a host of international and local brands. CCBA group operates in 15 countries, including its six key markets of South Africa, Kenya, Ethiopia, Uganda, Mozambique and Namibia, as well as Tanzania, Botswana, Ghana, Zambia, the islands of Comoros and Mayotte, Eswatini, Lesotho, and Malawi.
Learn more at https://www.CCBAGroup.com
Renting a home – or letting one out – used to be simpler. The rental landscape has become far more dynamic, shaped by tech, lifestyle shifts, and evolving expectations on both sides of the lease. “It’s not just about four walls and a roof anymore,” says Jacqui Savage, National Rentals Manager at Rawson Property Group. “People …
Salvador Caetano Auto South Africa, a subsidiary of the globally recognised Salvador Caetano Group, is taking a significant step in expanding its footprint in the local automotive market through a strategic partnership with Jiangling Motors Corporation (JMC), a leading Chinese commercial vehicle manufacturer. This collaboration not only strengthens Salvador Caetano’s position in South Africa but …
Ford Motor Company of Southern Africa (Manufacturing) (Pty) Ltd (FMCSA) has determined that a concern which relates to motor vehicle safety may exist for certain Ford EcoSport models built between April 2021 and July 2022. FMCSA has identified that in the affected vehicles, the front half shafts may not have been fully inserted into the …
The Financial Sector Conduct Authority (FSCA) of South Africa and the International Finance Corporation (IFC), a member of the World Bank Group, have signed a Cooperation Agreement to support the development of climate and sustainability reporting regulations aligned with the International Sustainability Standards Board (ISSB). The agreement supports ongoing efforts by the FSCA to support …
At the 32nd Annual General Meeting of Shareholders of the African Export-Import Bank (Afreximbank) (www.Afreximbank.com), held as part of the Bank's 2025 Annual Meetings in Abuja, Nigeria, from 25 to 28 June 2025, shareholders approved a series of key resolutions aimed at strengthening the Bank's strategic direction, financial resilience, and governance.
Among the most significant outcomes was the appointment of Dr. George Elombi as the fourth President and Chairman of the Board of Directors, succeeding Professor Benedict Oramah, who will step down later this year after nearly a decade of transformative leadership.
Shareholders also approved the expansion of the Bank's Concessional Finance Window, increasing its capital allocation from USD 1 billion to USD 5 billion, and raising the direct shareholder contribution from USD 200 million to USD 700 million. This substantial expansion reflects the growing demand for accessible development finance across Africa and the Caribbean, and strengthens Afreximbank's capacity to support inclusive and sustainable economic growth.
In addition, shareholders reaffirmed the commitment of the Bank's Member States to Afreximbank's Preferred Creditor Status (PCS), as codified in the Bank's Establishment Agreement, to which all Member States are signatories. This reaffirmation underscores continued support for the Afreximbank's role as a trusted African Multilateral Financial Institution.
In what marked his final Shareholders' Meeting, Professor Oramah welcomed the outcomes and expressed appreciation for the vision and leadership shown:
“It has been a great honour to serve as President and Chairman of the Board of Directors of Afreximbank for the past decade. I commend our shareholders for the bold and strategic decisions taken, particularly the unwavering reaffirmation of their commitment to respect their obligations under the Afreximbank Establishment Agreement, through which the Bank enjoys Preferred Creditor Status across its member states. We also welcome their decision to increase the size of the Africa Trade Transformation Fund (ATTF), the Concessional Finance initiative launched at the 30th Annual Meetings of the Bank, from USD 1 billion to USD 5 billion. These decisions would collectively shape the future of this great institution and advance Africa's prosperity.
“I am confident that the Bank is well placed to continue making a profound impact under the capable leadership of my able successor, Dr. George Elombi, and I extend my very best wishes to him.”
The shareholders also elected Mr. Wale Edun, Nigeria's Minister of Finance and Coordinating Minister of the Economy as Chairman of the General Meeting for the period 2025/2026 and passed other statutory resolutions including adoption of the Bank's audited financial statements for the year ended 31 December 2024 and appointment of auditors.
The shareholders in addition confirmed the re-election of Dr. Denny Hamachila Kalyalya (Zambia), Dr. John Panonesta Mangudya (Zimbabwe) and Mr. Victor Jérôme Nembelessini-Silué (Côte d'Ivoire) to the Bank's Board of Directors. Independent Directors Mr. Anil Dua (United Kingdom) and Mr. Ronald Sibongiseni Ntuli (South Africa) were also re-elected. Newly elected Directors include Mrs. Leila Mokaddem (Tunisia), as a nominee of the African Development Bank.
The shareholders noted the challenges and negative reports disputing African Multilateral Financial Institutions and undermining the commitments that African states have made in the treaties establishing these institutions, including Afreximbank.
In a statement unanimously endorsed and adopted by the General Meeting, Mr. Wale Edun, Nigeria's Minister of Finance and Chairman of the General Meeting, affirmed the shareholders' unwavering confidence in the Bank's financial resilience and mandate to drive Africa's trade-led growth.
Mr. Edun stated: “The shareholders affirm their respect for the 1993 treaty establishing Afreximbank, signed and ratified by African states, noting that it enshrined binding sovereign commitments and underpinned the preferred creditor status (PCS) of the Bank, shielding its loans from sovereign debt restructurings.
“Additionally, shareholders reaffirm the commitment of the Bank's Member States to the Preferred Creditor Status (PCS) enshrined in the Bank's Establishment Agreement to which all Member States are signatories and call for collective responsibility in safeguarding the integrity of African Multilateral Financial Institutions (AMFIs).
“This meeting confirms shareholders' full commitment to supporting the Bank's mission, and call upon all stakeholders to engage constructively, reflecting the Bank's robust legal protections and credit fundamentals.”
This collective statement by Afreximbank's shareholders sends a strong signal to partners, rating agencies, and the broader financial community: the Bank remains a trusted and protected institution anchored by solid legal foundations and an unwavering mandate to drive Africa's economic transformation through trade.
Nearly 6,000 delegates attended the 32nd Afreximbank Annual Meetings, making it the Bank's most highly attended Annual Meeting in its 32-year history. Attendees included 22 current and former African and Caribbean Heads of State or their representatives, as well as policymakers, academics, business leaders and high-profile dignitaries.
Distributed by APO Group on behalf of Afreximbank.
Media Contact:
Vincent Musumba
Communications and Events Manager (Media Relations)
Email: press@afreximbank.com
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About Afreximbank:
African Export-Import Bank (Afreximbank) is a Pan-African multilateral financial institution mandated to finance and promote intra- and extra-African trade. For over 30 years, the Bank has been deploying innovative structures to deliver financing solutions that support the transformation of the structure of Africa's trade, accelerating industrialisation and intra-regional trade, thereby boosting economic expansion in Africa. A stalwart supporter of the African Continental Free Trade Agreement (AfCFTA), Afreximbank has launched a Pan-African Payment and Settlement System (PAPSS) that was adopted by the African Union (AU) as the payment and settlement platform to underpin the implementation of the AfCFTA. Working with the AfCFTA Secretariat and the AU, the Bank has set up a US$10 billion Adjustment Fund to support countries effectively participating in the AfCFTA. At the end of December 2024, Afreximbank's total assets and contingencies stood at over US$40.1 billion, and its shareholder funds amounted to US$7.2 billion. Afreximbank has investment grade ratings assigned by GCR (international scale) (A), Moody's (Baa2), China Chengxin International Credit Rating Co., Ltd (CCXI) (AAA), Japan Credit Rating Agency (JCR) (A-) and Fitch (BBB-). Afreximbank has evolved into a group entity comprising the Bank, its equity impact fund subsidiary called the Fund for Export Development Africa (FEDA), and its insurance management subsidiary, AfrexInsure (together, "the Group"). The Bank is headquartered in Cairo, Egypt.
For more information, visit: www.Afreximbank.com
The Women in Business Awards, celebrates female entrepreneurial excellence with a R500 000 grand prize. Standard Bank is proud to announce its continued partnership with the South African Future Trust as the official sponsor of the Women in Business Award for the second consecutive year. This prestigious recognition celebrates the extraordinary achievements of female entrepreneurs …
Pretoria, South Africa – Wednesday, 23 July 2025: Range Rover Sport now offers more scope for tailored personalisation than ever before with the introduction of SV Bespoke. This is the first time the luxury high-performance SUV has been available through Range Rover’s exclusive in-house commissioning programme. The arrival of the service follows the introduction of …
As part of its ongoing partnership with SOS Children’s Villages, Stellantis – one of the world’s leading automakers – is combatting youth unemployment in South Africa by equipping participants with practical, employable skills. This week, the automakers welcomed 40 youth between the ages of 15 and 20 to their offices in Midrand, Johannesburg, for an …
Speaking at Stellantis Week 2025, Mike Whitfield, Managing Director of Stellantis South Africa and Sub-Saharan Africa, reaffirmed the company’s commitment to the local market, highlighting significant progress across its brand network, product portfolio “We have a clear vision to grow our presence in South Africa and across the Sub-Saharan region,” said Whitfield. “This growth is …
Building financial resilience requires good financial planning which will in turn help you meet your financial goals. However, this also comes with the responsibility of being disciplined and being prepared to learn and unlearn what you know about finances and money management. “Savings month presents the opportunity to help you understand that saving and setting …
Cape Town, South Africa: In the spirit of Nelson Mandela’s legacy, GAC Motor South Africa, Generation Schools, and the Real Madrid Football Foundation South Africa came together this Mandela Day to serve meals to, engage with, and uplift 250 children through a meaningful day of purpose and action in Cape Town. This collaboration goes beyond …
The growing awareness of South Africa’s social challenges, from limited access to health care and quality education to water and food insecurity, is making the country’s wealthiest rethink the idea of legacy. Philanthropic giving in South Africa is shifting from once‑off generosity to structured, strategic and often anonymous efforts to drive long‑term transformation. Nokuzola Cossie, …
The Financial Sector Conduct Authority (FSCA), in collaboration with the Financial Services Consumer Education Foundation (FSCEF), is pleased to announce the commencement of the 2025 Financial Literacy Speech Competition (FLSC). Now in its eighth year, this FLSC promotes financial literacy among Grade 11 learners from quintile 1 to 4 schools. The competition provides a platform …
