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At the beginning of this year there was much local speculation on the trajectory of Bitcoin. A few local market commentators were quite adamant that Bitcoin would reach the magical R1 Million value at the end of February 2024. Unlike with normal stocks and shares on the Stock Market and through brokers such as Easy …
Standards relate the technology being applied and present an entire operational framework against which it is delivered and evaluated, according to Robin Clarke, Executive Director of the Hot Dip Galvanizers Association of South Africa (HDGASA). “A common misconception is that standards allow people to operate in accordance with the lowest common denominator. This is not …
This year is a significant one for elections on the global stage, with more than 60 taking place worldwide – including national elections in the five most populous countries in the world. In fact, across the globe, more voters than ever before will make their way to the polls in 2024, with almost half (49 …
Mahindra South Africa (MSA) has announced the appointment of automotive industry veteran, Arnold Reddy, in its management team. Reddy will assume the role as Head of Logistics. He will be responsible for a rapidly growing division that is responsible, not only for the import of Mahindra vehicles, but the supply of parts and components to …
Ford Motor Company Fund and Ford South Africa, in collaboration with READ Educational Trust (The Rally to Read Projects), have rolled out the second Pretoria-based rally, reinforcing the company’s commitment to educational literacy. As part of the three-year project, Ford Fund provides an annual grant of R1.36-million, benefiting six schools in three different areas surrounding …
Lebo Gaoaketse, Head of Marketing and Communication at WesBank, says that the uptake of electric vehicles (EVs) in South Africa has been slow in comparison to other world markets. While local consumer interest in new-energy vehicles continues on an upward trajectory, demand remains subdued due to a number of factors, key among these being the …
Few business leaders dispute that artificial intelligence (AI) is on course to upend every major market sector and industry, but many boards aren’t always aware of what a successful AI strategy looks like, or how best to prepare their organisations for the change. A survey conducted among IoD members in 2022 found that a significant …
Ask any trapeze artist, and they’ll tell you that a safety net is a non-negotiable part of flying high. While few of us are circus performers, an emergency savings fund is still one of the most important requirements for our peace of mind and financial stability. Life has a way of throwing curveballs our way. …
In today’s dynamic manufacturing landscape, the imperative of digital transformation resonates louder than ever. Yet, amidst the myriad priorities vying for attention, the migration to cloud-based Enterprise Resource Planning (ERP) often remains relegated to the backburner for many industry players. There is hesitance or oversight surrounding cloud migration among manufacturers engrossed in day-to-day operations. However, …
When investing in stocks, companies, property, crypto and the like one is always on the lookout for good strong capital growth combined with above average dividend payouts. Now if you are at the beginning of your investment journey then you will look at stocks that are more aggressive and re-invest your dividends as you grow …
As a leading South African provider of cutting, welding and grinding consumables and machines, First Cut has always prioritised safety – and nowhere more so than in the field of compressed gas. First Cut’s subsidiary and well-known compressed gas safety training company GSI is extremely proud of its female team members, who have an impressive …
Pretoria, South Africa, 21 February 2024: The Kingsley Holgate Foundation has completed leg two of its Afrika Odyssey Expedition, travelling across 13 African countries in a pair of Defender 130s to distribute 7,643 long-lasting insecticide-treated mosquito nets. Benefiting mainly pregnant women and children under the age of five, it is projected that each mosquito net …
Umhlanga-based business owner, Janice Chetty’s new school, Future-preneurs, is ready to roll out and create entrepreneurs of the future. The programme, which launched in Durban this month, is designed to teach business skills to children aged 10 to 14. The course is aimed at teaching the business skills needed to start up a business or …
Kaspersky (www.Kaspersky.co.za) experts discussed the evolution of the cyberthreat landscape in the region during its 9th annual Cyber Security Weekend – META 2024, held in Kuala Lumpur, Malaysia. The focal point of the discussions was the security of emerging technology trends such as Artificial Intelligence (AI), that are influencing the scale of modern threats. In parallel, threats targeting industrial control systems within critical infrastructure, in the Middle East, Africa, and Asia were also discussed. Kaspersky's Cyber Immunity approach took centre stage as a way to create solutions that are virtually impossible to compromise and that minimise the number of potential vulnerabilities.
In the African region, Kaspersky's telemetry showed the number of overall cyberthreats in South Africa decreased by 29% in 2023 as compared to 2022. At the same time, phishing attacks that use social engineering tactics to scam people into revealing sensitive information rose by 29%. Over the same period, Kenya saw a decrease in overall threats by 8% while an increase was seen in ransomware attacks by 68%, backdoors by 47%, exploits by 22% and phishing by 19%. Nigeria saw an overall decrease in all threats by 10% while banking malware attacks designed to collect online banking credentials and other sensitive information from infected machines increased by 8%.
According to Kaspersky's analysis, online threats caused by vulnerabilities on web pages, in emails or webservices, have fluctuated significantly in the region. Turkiye saw the highest number of users affected by online threats (41.8%), followed by Kenya (39.2%), Qatar (38.8%) and South Africa (35%). Fewer users were affected in Oman (23.4%) and Egypt (27.4%) followed by Saudi Arabia (29.9%) and Kuwait (30.8%).
“As the cybersecurity landscape evolves, cyber threats continue to become diverse and sophisticated. This trend is particularly evident due to the emergence of advanced technologies like AI and the escalating geopolitical and economic turbulence within the Middle East, Turkiye, Africa (META) region. These factors collectively contribute to the surge in cybercrime and the heightened complexity of cyberattacks,” comments Amin Hasbini, Director of META Research Center Global Research and Analysis Team (GReAT), Kaspersky.
Distributed by APO Group on behalf of Kaspersky.
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About Kaspersky:
Kaspersky is a global cybersecurity and digital privacy company founded in 1997. Kaspersky's deep threat intelligence and security expertise is constantly transforming into innovative solutions and services to protect businesses, critical infrastructure, governments and consumers around the globe. The company's comprehensive security portfolio includes leading endpoint protection, specialized security products and services, as well as Cyber Immune solutions to fight sophisticated and evolving digital threats. Over 400 million users are protected by Kaspersky technologies and we help over 220,000 corporate clients protect what matters most to them. Learn more at www.Kaspersky.co.za.
The social media giant Meta Platforms, owner of WhatsApp, Facebook, Instagram, and Threads, is preparing to pay its first-ever dividend, and the last day to buy shares that qualify for the payout is within the week. Sign up with Easy Equities now to buy these shares OR Fractions of these shares. Other companies that have …
Canon Central and North Africa (Canon-CNA.com), a global leader in imaging solutions, is pleased to announce a transformative partnership with MindMe International (MMI), a registered NGO based in Kenya. This collaboration aims to empower marginalized communities through sustainable development, with a focus on fostering positive change in young individuals' lives.
Central to this collaboration is the shared objective of transforming young participants into effective storytellers. The programme's structured approach includes providing access to equipment, teaching photography skills, showcasing examples and case studies, and guiding participants to tell their stories authentically. Upon completion of the programme, participants will be awarded certificates by Canon, to acknowledge their dedication and accomplishments.
“Canon is proud to partner with MindMe International on this impactful initiative, empowering young individuals to become creative storytellers who can authentically represent their communities. Through the Young People Programme, we aim to provide these young talents with the tools and skills needed to make a lasting impact in their communities and beyond,” says Jeanine El Moughrabi, Developing Regions Sustainability Manager
The programme, officially commenced on 8 February 2024, and kicked off with an introductory event on 1 February. MindMe International, dedicated to eradicating extreme poverty through localized development, will work hand in hand with Canon to run a three-month initiative targeting young people between 11 and 17 years. The workshops are being held at Woodcreek School in Kiambu County, Kenya, with 20 participants.
An integral part of the collaboration is the commitment to the United Nations Sustainable Development Goals (SDGs). Through the Young People Programme (YPP), Canon and MindMe International envision empowering the youth to amplify the SDGs through their narratives. The aim is not only to equip young individuals with practical skills but also to inspire them to become advocates for positive change in their respective communities.
With the initiative running for three months, it allows for the outcomes to be accurately monitored to evaluate the programme's success and impact. The program comprises 12 workshops scheduled every Thursday, that commenced on February 8th and will conclude on May 30th, along with the utilization of Canon EOS 4000D cameras.
The culmination of the initiative will be marked by an engaging exhibition showcasing the creative images produced by the young participants. This exhibition will provide a platform for the youth to express themselves creatively and share their unique perspectives on sustainability and community development. Local suppliers in Kenya will be involved in printing toolkits and resource materials for the exhibition, contributing to a positive economic ripple effect and promoting environmental sustainability.
This collaboration builds on the success stories of similar initiatives, such as Kgaugelo Neville Ngomane, a participant in the Young People Programme South Africa, who won the CIWEMs International Young Environmental Photographer of the Year Award. This partnership is poised to create more success stories, scholarships, jobs, and internships for the young participants, emphasizing the potential for meaningful impact.
Carol Kiiru, Director-MindMe International: “MindMe International envisions a world where sustainable development is accessible to all, breaking the chains of extreme poverty. Through our collaboration with Canon in the YPP, we strive to empower marginalized youth, aligned in our Education and Youth (Arts and Digital empowerment) programmes providing them with the tools to tell their stories and advocate for positive change. By fostering creativity, skills, and community engagement, we are aligning with the SDGs and shaping a future where every voice, regardless of background, contributes to building a society free from inequality and poverty.”
Through this partnership, Canon and MindMe International send a powerful message about the significance of empowering young people to be agents of positive change in their communities. Young voices, when equipped with the right skills and platforms, can inspire, and drive social change. In addition, the collaboration serves as an outstanding example of how private and non-profit sectors can work together to contribute to a more sustainable and equitable future.
Distributed by APO Group on behalf of Canon Central and North Africa (CCNA).
Media enquiries, please contact:
Canon Central and North Africa
Mai Youssef
e. Mai.youssef@canon-me.com
APO Group - PR Agency
Rania ElRafie
e. Rania.ElRafie@apo-opa.com
About Canon Central and North Africa:
Canon Central and North Africa (CCNA) (Canon-CNA.com) is a division within Canon Middle East FZ LLC (CME), a subsidiary of Canon Europe. The formation of CCNA in 2016 was a strategic step that aimed to enhance Canon's business within the Africa region - by strengthening Canon's in-country presence and focus. CCNA also demonstrates Canon's commitment to operating closer to its customers and meeting their demands in the rapidly evolving African market.
Canon has been represented in the African continent for more than 15 years through distributors and partners that have successfully built a solid customer base in the region. CCNA ensures the provision of high quality, technologically advanced products that meet the requirements of Africa's rapidly evolving marketplace. With over 100 employees, CCNA manages sales and marketing activities across 44 countries in Africa.
Canon's corporate philosophy is Kyosei (https://apo-opa.co/3SvVhrS) – ‘living and working together for the common good'. CCNA pursues sustainable business growth, focusing on reducing its own environmental impact and supporting customers to reduce theirs using Canon's products, solutions and services. At Canon, we are pioneers, constantly redefining the world of imaging for the greater good. Through our technology and our spirit of innovation, we push the bounds of what is possible – helping us to see our world in ways we never have before. We help bring creativity to life, one image at a time. Because when we can see our world, we can transform it for the better.
For more information: Canon-CNA.com
19 February 2024 -The African SAP User Group (AFSUG) Board has unanimously appointed Louise Steenekamp as its new Vice-Chair, effective 15 February 2024. Having served on the AFSUG Board since January 2020, Steenekamp brings with her over two decades of extensive experience within the SAP ecosystem. Her expertise spans various aspects of SAP, including implementation, …
Report forecasts stronger growth for Africa in 2024, outpacing projected global average; Continent is second-fastest-growing region after Asia.
Africa will account for eleven of the world's 20 fastest-growing economies in 2024, the African Development Bank Group said in its latest Macroeconomic Performance and Outlook (MEO) of the continent released on Friday.
Overall, real gross domestic product (GDP) growth for the continent is expected to average 3.8% and 4.2% in 2024 and 2025, respectively. This is higher than projected global averages of 2.9% and 3.2%, the report said.
The continent is set to remain the second-fastest-growing region after Asia.
The top 11 African countries projected to experience strong economic performance forecast are Niger (11.2%), Senegal (8.2%), Libya (7.9%), Rwanda (7.2%), Cote d'Ivoire (6.8%), Ethiopia (6.7%), Benin (6.4%), Djibouti (6.2%), Tanzania (6.1%), Togo (6%), and Uganda at 6%.
“Despite the challenging global and regional economic environment, 15 African countries have posted output expansions of more than 5%,” Bank Group President Dr Akinwumi Adesina said, calling for larger pools of financing and several policy interventions to further boost Africa's growth.
Africa's Macroeconomic Performance and Outlook, a biannual publication released in the first and third quarters of each year, complements the existing African Economic Outlook (AEO), which focuses on key emerging policy issues relevant to the continent's development.
The MEO report provides an up-to-date evidence-based assessment of the continent's recent macroeconomic performance and short-to-medium-term outlook amid dynamic global economic developments.
The latest report is calling for cautious optimism given the challenges posed by global and regional risks. These risks include rising geopolitical tensions, increased regional conflicts, and political instability—all of which could disrupt trade and investment flows, and perpetuate inflationary pressures.
President Adesina emphasised that fiscal deficits have improved, as faster-than-expected recovery from the pandemic helped shore up revenue.
He explained further: “This has led to a stabilisation of the average fiscal deficit at 4.9% in 2023, like 2022, but significantly less than the 6.9% average fiscal deficit of 2020. The stabilisation is also due to the fiscal consolidation measures, especially in countries with elevated risks of debt distress.”
He cautioned that with the global economy mired in uncertainty, the fiscal positions of the African continent will continue to be vulnerable to global shocks.
The report shows that the medium-term growth outlook for the continent's five regions is slowly improving, a pointer to the continued resilience of Africa's economies.
Presenting the key findings of the report, the African Development Bank's Chief Economist and Vice President, Prof. Kevin Urama said: “Growth in Africa's top-performing economies has benefitted from a range of factors, including declining commodity dependence through economic diversification, increasing strategic investment in key growth sectors, and rising both public and private consumption, as well as positive developments in key export markets.”
He added: “Africa's economic growth is projected to regain moderate strength as long as the global economy remains resilient, disinflation continues, investment in infrastructure projects remains buoyant, and progress is sustained on debt restructuring and fiscal consolidation.”
“The future of Africa rests on economic integration. Our small economies are not competitive in the global market. A healthy internal African trade market can ensure value-added and intra-African production of manufactured goods,” said Commissioner for Economic Development, Trade, Tourism, Industry and Minerals, African Union Commission, Ambassador Albert Muchanga.
He assured that the MEO forecast, and recommendations will be made available to African heads of state and that the report will be useful when the African Union makes its proposals to the G20- an informal gathering of many of the world's largest economies to which the African Union was admitted last year.
The improved growth figure for 2024 reflects concerted efforts by the continent's policymakers to drive economic diversification strategies focused on increased investment in key growth sectors, as well as the implementation of domestic policies aimed at consolidating fiscal positions and reversing the increase in the cost of living and boosting private consumption.
Speaking remotely, Zimbabwe's Minister of Finance and Economic Development, Prof Mthuli Ncube described the report as being “on point” and consistent with the reality in his country, describing it as useful for economic planning across Africa. He urged the African Development Bank to continue its thought leadership to help policymakers continue to build resilience to withstand shocks and drive growth.
Ncube said: “Zimbabwe expects slower growth due to climate shocks in the region. Southern African countries depend on agriculture for economic growth, so climate-proofing agriculture is key. We are in talks with creditors to restructure its debt, which is slowing economic growth. Internally, the country will focus on economic and governance reforms and reforms around property rights to increase agricultural production.”
Up to 41 countries across the continent will in 2024, achieve an economic growth rate of 3.8%, and in 13 of them, growth will be more than 1 percentage point higher than in 2023.
Director of the Center for Sustainable Development, Columbia University Prof Jeffrey Sachs noted that long-term affordable financing must be part of Africa's strategy to achieve growth of 7% or more per year and warned that Africa is paying a very high-risk premium for debt financing. He called for this point to be made to the G20.
“Long-term development cannot be based on short-term loans. Loans to Africa should be at least 25 years or longer. Short-term borrowing is dangerous for long-term development. Africa must act as one, in scale,” he explained.
Sachs, who is also the UN Secretary-General António Guterres' Advocate for Sustainable Development Goals also called for a much larger African Development Bank, better resourced to meet Africa's financing needs.
Overview of economic outlook across regions
The confluence of shocks notwithstanding, the resilience of the continent's economies remains strong, with positive growth projected for the continent's five regions.
Driving faster and more sustainable economic growth
The 2024 MEO says in the short term, tackling persistent inflation will need a mix of restraining monetary policy coupled with fiscal consolidation and stable exchange rates.
The report identifies structural reforms and strategic industrial policies as key to accelerating economic diversification and strengthening the export sector.
It recommends that countries invest more in human capital and pursue a resource-based industrialisation and diversification strategy that allows the continent to exploit its comparative advantage and build resilience to shocks.
Distributed by APO Group on behalf of African Development Bank Group (AfDB).
Media Contact:
Emeka Anuforo
Communication and External Relations Department
media@afdb.org
About the African Development Bank Group:
The African Development Bank Group (AfDB) is Africa's premier development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). On the ground in 34 African countries with an external office in Japan, the AfDB contributes to the economic development and the social progress of its 54 regional member states. For more information: www.AfDB.org
By Jonathan Duncan, technical director, Africa at Vertiv Johannesburg, South Africa – Digital transformation means organisations are becoming increasingly reliant on information technology to run almost every aspect of their business. The creation of more data – which needs to be processed and stored – brings with it the corresponding need for more compute power …
Bloemfontein, the judicial capital of South Africa, is a bustling city that requires efficient utility services. To meet the needs of residents, several private prepaid meter suppliers have emerged in Bloemfontein. These suppliers offer private prepaid electricity, gas, and water meters, providing a convenient and hassle-free way to manage and control utility consumption. In this […]
Hyundai Umhlanga has been awarded the 2023 Dealer of the Year prize at Hyundai Automotive South Africa’s national dealer conference held last week in Gauteng. The Umhlanga dealership on the north coast of KwaZulu-Natal has excelled in several aspects of its business, including sales, customer satisfaction and customer service. A proud Prishen Ghandhi, dealer principal …
Large timber and paper companies have led the way when it comes to generating their own power using steam turbines. Today, the timber sector can not only generate its own power using internally-generated by-products – but can also create a whole new income stream from this biomass. This is according to Dennis Williams, Commercial Director …
This week, Minister of Finance and Economic Opportunities, Mireille Wenger, together with officials from the Department of Economic Development and Tourism, hosted the Western Cape Government’s fifth annual Port Stakeholder Engagement. This year’s engagement was clear on the need for the urgent action needed to turn performance around at the Container Terminal in the Port …
JOHANNESBURG – February 13, 2024 – In an age marked by an unprecedented surge in cyberthreats and data breaches, the importance of cybersecurity has reached new heights. Organisations worldwide are grappling with a mounting tide of cybercrime, with estimates from Cybersecurity Ventures projecting that cybercrime would cost the world a staggering $8 trillion in 2023; …
