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You are here: Home / Archives for African

African

1 August 2024

Just Energy Transition must not leave communities behind – Ramokgopa

Location: News

Just Energy Transition must not leave communities behind - Ramokgopa

Minister of Energy and Electricity, Dr Kgosientsho Ramokgopa, has insisted that as South Africa continues to transition from a carbon intensive economy to a green economy, communities must be informed, consulted and educated on what the transition will mean to them.

The minister was delivering an address at the Institute for the Future of Work (IFOW) seminar on South Africa’s Just Energy Transition and the Future of Work in Tshwane.

Ramokgopa emphasised the importance of consultations with and education of communities  as South Africa transitions and, by implication, some coal fired power stations wind down operations.

“We need to answer that question by what we mean by [Just Energy Transition]. It’s also about the democratisation of the conversation. It’s important that when you move into [communities] you don’t undermine the agency and the ability of people in those areas to comprehend and understand the implications of the decisions that you want to take.

“You don’t suggest that you have the authority to decide on their behalf. We don’t have that authority. It’s important that they get to be educated [on] the impact of not transitioning to the environment, to their own health, what it means and the impact of doing that suddenly.

“And they must contribute to the generation of how best to do that Just Transition and don’t treat those people as unthinking [and] as people who don’t have a view. As we move this just transition, we [must] take communities with us,” he said.

The minister highlighted that South Africa’s Just Energy Transition is expected to be an expensive process which – he added – should be subsidised by developed nations who are responsible for the vast majority of greenhouse gases causing climate change.

“There’s a ticket that’s assigned to the transition…the financing ticket. We are talking about R1.6 trillion over a period of five years. The South African balance sheet is very weak; it will not be able to carry this. So you need to design bespoke financing instruments…to help us to go this route.

“But also more significantly, what is the contribution of the developed world? Those parties that are largely responsible for the kind of damage that we are seeing to the environment. Africa in total contributes about 4% to the greenhouse gas emissions. We can’t carry the same responsibility. The industrialised and developed north have got both a moral and ethical duty to ensure that they are able to finance this transition,” he said.

Turning to South Africa’s renewable energy sector, Ramokgopa reiterated President Cyril Ramaphosa’s stance that the sector is undergoing a revolution that will create jobs and growth.

“Without any hesitation, renewables are going to see the biggest exponential growth of any form of fuel in the energy mix. We are tilting towards green forms of energy. Nuclear, solar PV, hydro and wind are going to be the mainstay of this transition. Of course, we do all of these things at the pace and scale that we can afford.

“We know that on solar PV and wind, these are some of the cheapest forms of generation. So we are going that route with its own weaknesses that this is not dispatchable power. So it’s not available all the time. It’s important that we do this configuration of what constitutes the various forms of fuel sources…understanding that the backbone of our energy generation will still be baseload,” he said. – SAnews.gov.za

NeoB
Thu, 08/01/2024 - 10:31

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Read moreJust Energy Transition must not leave communities behind – Ramokgopa
1 August 2024

Strong Semifinal Showings for South African Rowers at Olympics

Location: MyPR

The South African rowing team delivered commendable performances in their respective semifinals, leaving South Africa proud of their dedication to a world-class representation of their country on the greatest sporting stage. Paige Badenhorst triumphed in the women’s single scull semifinal C/D, crossing the finish line in first place to secure her seat in the C …

Read moreStrong Semifinal Showings for South African Rowers at Olympics
1 August 2024

SIU starts its probe into street lights tender in Nelson Mandela Bay Municipality

Location: News

Some streets in the metro have been dark for years

Read moreSIU starts its probe into street lights tender in Nelson Mandela Bay Municipality
31 July 2024

SA to further focus on manufacturing and exports to grow economy

Location: News

SA to further focus on manufacturing and exports to grow economy

Trade, Industry and Competition Deputy Minister Andrew Whitfield says it is essential that South Africa’s economic growth is grounded in manufacturing-led growth and export-oriented economy. 

To this end, the department will support local industries to increase their manufacturing capacity and volumes, enhance their competitiveness and identify suitable export markets for their manufactured products.

Whitfield was speaking during a debate on the Budget Vote of the Department of Trade, Industry and Competition (the dtic) in the National Council of Provinces (NCOP) in Parliament on Tuesday. 

“It is essential that South Africa’s economic growth is grounded in manufacturing-led growth.

“Manufacturing is indeed less volatile and less vulnerable to economic downturns and will create real, sustainable and decent paying jobs for our people. 

“South Africa must also create an export-oriented economy. A dedicated focus on manufacturing growth will also lead to export growth,” he said.

Whitfield said one of the dtic’s key focus areas under the new administration will be a renewed export drive to lower the risk of slow domestic growth, while also identifying high growth opportunities. 

“The creation of an export-oriented economy can be realised through a dedicated focus on implementing measures to boost the competitiveness of local industries in global markets, streamlining export processes, lowering trade barriers, offering financial and technical assistance to exporters and cultivating beneficial trade alliances with other nations,” explained Whitfield.

He said South Africa’s exports in May this year totalled over R178 billion and the country recorded a trade surplus of over R20 billion, significantly higher than forecast, and the widest trade surplus in six months. 

“This is commendable and illustrates the important contribution that exports can make to our fiscus. We will support local industries by building a supportive and competitive ecosystem to drive manufacturing growth. 

“We will also identify intermediate goods that could make our manufacturers more competitive; as well as identify products that we produce competitively and the markets that consume those products in large and/or growing volumes,” Whitfield said. 

Earlier this month, dtic Minister Parks Tau reiterated the commitment to “smart industrial policy”, which will support the successful implementation of government’s development imperatives.

READ | The dtic to support programmes outlined by the President

“In line with what the President said [during the Opening of Parliament Address] when talking about smart industrial policy, the dtic group will implement sectoral plans building on the successes recorded in the automotive, clothing and textiles, retail and agro-processing sectors.

“Smart industrial policy speaks to underlining beneficiation and export-led growth. It highlights the imperatives of the Public Procurement Act that will complement the essential legislative tools to unlock localisation and transformation.

“Every year the South African economy spends 25% of the national wealth created on imported goods. Not only is this propensity to import much greater than our competitor countries, it is also out of sync with our developmental needs,” Tau said.

The Minister said government will reverse this in pharmaceuticals and medical devices, green industries, food products and manufactured goods, among others. He noted that smart industrial policies and programmes are being implemented to respond to the global market trends towards electric vehicles. – SAnews.gov.za

Edwin
Wed, 07/31/2024 - 14:31

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Read moreSA to further focus on manufacturing and exports to grow economy
31 July 2024

dtic welcomes signing into law of the Companies Amendment Act

Location: News

dtic welcomes signing into law of the Companies Amendment Act

Trade, Industry and Competition Minister Parks Tau has welcomed the signing into law of the Companies Amendment Act by President Cyril Ramaphosa last Friday. 

Tau was addressing the National Council of Provinces (NCOP) during the debate on his department’s Budget Vote on Tuesday. 

“In the spirit of transparency and in the hopes that we further improve the ease of doing business, we welcome President Ramaphosa’s ascension to the Companies Amendment Act. The Act aims to improve the ease of doing business by ensuring that our company law is consistent with well-established principles that are not over-burdensome on businesses,” he said. 

Tau said the new Act is also aimed at achieving equity between directors and senior management on the one hand, and shareholders and workers on the other hand, as well as addressing public concerns regarding high levels of inequality in society.

“The Act will go a long way in ensuring adherence to sound corporate governance, accountability and transparency, and that directors carry their duties with integrity and care,” he said.

READ I President assents laws advancing ease of doing business

Tau also welcomed President Ramaphosa’s signing of the Climate Change Bill into law, saying that all South Africans needed to celebrate its ascension. 

The Climate Change Act sets out South Africa’s national climate change response, including mitigation and adaptation actions, which also constitutes South Africa’s fair contribution to the global climate change response. 

“The signing of the law came at an opportune moment because as the department, we had already taken significant steps towards identifying opportunities in industrial decarbonisation and manufacturing of green products for both local and export markets,” he said.

The Act makes provision for an active role by provinces and municipalities in coordinating the country’s climate change responses, as well as setting emissions targets for manufacturing and related sectors. 

“In this regard, our department has developed the Green Hydrogen Commercialisation Strategy, which will be implemented. 

“In the next few weeks, we will be meeting with provinces and the South African Local Government Association (SALGA) to map these out further and ensure that we all channel our energies towards building a greener and climate-resilient South African economy,” Tau said.

During his speech, Tau said the department will accelerate the roll out of the Special Economic Zones (SEZ) programme in order to achieve better spatial equity.

“Fortunately, there are local success stories we can learn from to accelerate the SEZ model in other under-serviced areas,” he said.

He cited the Coega Industrial Development Zone, which is presently home to 63 firms, employing approximately 10 000 people and with cumulative investments of about R11.5 billion.

Tau told the NCOP that his administration will ensure that industrial opportunities resulting from policy, regulatory and private-sector decisions were maximised to enable manufacturing-led growth. 

“Manufacturing induces or catalyses growth and jobs in upstream and downstream sectors. These jobs are typically permanent, pay relatively decent wages and provide workers with sustainable careers. And as you would agree, these jobs offer a sense of dignity to our citizens and communities,” he said. – SAnews.gov.za

Edwin
Wed, 07/31/2024 - 14:42

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Read moredtic welcomes signing into law of the Companies Amendment Act
31 July 2024

President Ramaphosa assents to IPID Amendment Bill

Location: News

President Ramaphosa assents to IPID Amendment Bill

The Independent Police Investigative Directorate (IPID) Amendment Bill has been signed into law by President Cyril Ramaphosa.

According to the Presidency, the new law is aimed at “affirming the institutional and operational independence” of IPID and empowers the directorate to “investigate serious alleged offences committed by police officers, whether they were off duty or not”.

“The new law entrenches the institutional and operational independence of IPID and makes it clear that the directorate must be independent, impartial and must exercise its powers and functions without fear, favour or prejudice.

“This amended law gives effect to an earlier Constitutional Court judgment in the McBride v Minister of Police and Another matter, which invalidated provisions in the IPID Act that enabled the Minister of Police to take disciplinary measures against the Executive Director of IPID without parliamentary oversight,” the Presidency said.

The newly assented to law also amends provisions in certain appointments, what the IPID can investigate and savings provisions for officials working in that office.

This includes: 

  • The updated legislation amends provisions relating to the appointment of the Executive Director of IPID and broadens the Executive Director’s responsibilities in respect of the referral of recommendations on disciplinary matters. 
  • The Amendment Act provides for pre-employment security screening investigations to be conducted by the directorate.
  • The law now empowers IPID to investigate any deaths caused by the actions of a member of the South African Police Service or a member of a municipal police service, whether such member was on or off duty.
  • IPID is enabled to investigate rape by a member of the SAPS or a member of a municipal police service, whether such member was on or off duty.
  • The law also provides for a savings provision in the conditions of service of existing IPID investigators and provincial heads.

“The newly enacted Independent Police Investigative Directorate Amendment Act is an outcome of a comprehensive review of the principal IPID Act of 2011 initiated by the Civilian Secretariat for Police Service.

“The Civilian Secretariat provides the Minister of Police with policy advice and research support; develops departmental policy; provides civilian oversight of the South African Police Service and mobilises stakeholders outside the department around crime prevention and policing matters,” the Presidency said. – SAnews.gov.za

NeoB
Wed, 07/31/2024 - 15:21

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Read morePresident Ramaphosa assents to IPID Amendment Bill
31 July 2024

Date set for Thabo Bester trial

Location: News

Court proceedings so far this year have dealt with ironing out pre-trial matters

Read moreDate set for Thabo Bester trial
31 July 2024

President Ramaphosa assents to Independent Police Investigative Directorate Amendment Bill

Location: News

The Presidency of the Republic of South Africa
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President Cyril Ramaphosa has signed into law legislation affirming the institutional and operational independence of the Independent Police Investigative Directorate (IPID) and empowering IPID to investigate serious alleged offences committed by police officers whether they were off duty or not.

The newly enacted Independent Police Investigative Directorate Amendment Act is an outcome of a comprehensive review of the principal IPID Act of 2011 initiated by the Civilian Secretariat for Police Service.

The Civilian Secretariat provides the Minister of Police with policy advice and research support; develops departmental policy; provides civilian oversight of the South African Police Service and mobilises stakeholders outside the department around crime prevention and policing matters.

The new law entrenches the institutional and operational independence of IPID and makes it clear that the directorate must be independent, impartial and must exercise its powers and functions without fear, favour or prejudice.

This amended law gives effect to an earlier Constitutional Court judgment in the McBride v Minister of Police and Another matter which invalidated provisions in the IPID Act that enabled the Minister of Police to take disciplinary measures against the Executive Director of IPID without parliamentary oversight.

The updated legislation amends provisions relating to the appointment of the Executive Director of IPID and broadens the Executive Director's responsibilities in respect of the referral of recommendations on disciplinary matters.

The Amendment Act provides for pre-employment security screening investigations to be conducted by the directorate.

The law now empowers IPID to investigate any deaths caused by the actions of a member of the South African Police Service or a member of a municipal police service, whether such member was on or off duty.

IPID is enabled to investigate rape by a member of the SAPS or a member of a municipal police service, whether such member was on or off duty.

The law also provides for a savings provision in the conditions of service of existing IPID investigators and provincial heads.

Distributed by APO Group on behalf of The Presidency of the Republic of South Africa.

Read morePresident Ramaphosa assents to Independent Police Investigative Directorate Amendment Bill
31 July 2024

SA Architects Rally to Tackle Housing Shortage Amid rapid Urban Growth

Location: News
Energy Capital & Power

South Africa is currently experiencing rapid urbanisation, with 63% of the population already residing in urban areas, a figure projected to rise (https://apo-opa.co/3Yt1Azg) to 71% by 2030. By 2050, it is estimated that eight out of every 10 people in the country will live in urban areas. As a consequence, the demand for basic infrastructure and essential services will significantly increase.

While urbanisation is a worldwide development, the growth rate is the fastest in Africa. By 2035, half of its population (https://apo-opa.co/4d151l7) will be living in cities and urban areas. But so far, it has largely translated into rising informal establishments, especially in sub-Saharan Africa, increasing poverty and inequality.

One of the most pressing issues is the dire state of the architectural profession in the region with too few skills on hand.

“As the demand for proper urban planning and development escalates, so does the need for skilled and competent architects who can contribute to sustainable and inclusive cities. However, the current state of the profession is cause for concern, with various obstacles hindering its progress. One of the most significant challenges is the housing crisis, which creates complex issues for architects,” says Devi Paulsen-Abbott at Energy Capital & Power.

The ever-growing urban population has put immense pressure on the limited housing options available, resulting in a dire need for affordable and sustainable solutions. Architects have a crucial role to play in developing innovative and sustainable housing options for all citizens.

“These are the professionals who possess the skills, knowledge, and creativity to design and build the spaces we live and work in. They have the potential to transform our cities and shape them into liveable, inclusive, and sustainable environments. However, the current state of the architectural profession in Southern Africa is hindering its ability to fulfil this critical role,”  Paulsen-Abbott states.

Another big challenge facing the local architectural profession is the lack of collaboration between the public and private sectors, she says. “The development of our cities requires a joint effort from both these sectors, but there is a significant disconnect between them.”

As a result, many projects are abandoned, delayed, or poorly executed, leading to subpar living conditions for citizens. Paulsen-Abbott explains that this disconnect also stems from the inadequate recognition and support for the architectural profession. “Despite its crucial role in shaping our built environment, architecture is often undervalued and underfunded by the public sector,” she says. “This results in a lack of resources and opportunities for architects to develop their skills and push the boundaries of innovation in design.”

To address these pressing issues, the upcoming Architecture South Africa Conference (AZA24) (https://ArchitectureZA.org.za/) is a much-needed event. Bringing together over 50 experts under the theme "Where Architecture Meets... US/ PLANET/ FUTURE..." the conference promises to be an insightful and thought-provoking exploration of the dynamic relationship between architecture, humanity and sustainability.

This highly anticipated event, hosted by the SA Institute of Architects (SAIA), Gauteng Institute for Architecture (GIFA), and University of Johannesburg (UJ), will take place from 4-7 September 2024 on the UJ campus.

AZA Convener, Daniel van der Merwe, says: “This conference is a vital opportunity for the architectural profession to come together, collaborate, and find solutions to the challenges facing our cities. By bridging the gap between the public and private sectors, architects can work towards creating more liveable and sustainable cities for all.”

AZA will also serve as a platform for architects to showcase their innovative designs and ideas, encouraging further growth and development within the profession.

“As citizens, we must also realize the importance of the architectural profession in creating a better future for us all. We must demand that our governments prioritise urban planning and development, and allocate sufficient resources and support for the architectural profession,” van der Merwe says. 

“The Architecture South Africa Conference AZA 2024 is a call for united action. We know the challenges South Africa faces, lack of sufficient housing, spatial inequality and ailing infrastructure. As architects our ultimate goal is to improve the lives of the end users of the spaces we design, inclusive of everyone in our beautiful country. AZA looks to open the discourse on how we can achieve this. Bringing together thought leaders to empower us all for a bright future,” notes Claire McCusker, President 2024/25 of SA Institute of Architecture (SAIA).

Distributed by APO Group on behalf of Energy Capital & Power.

About SAIA:
The South African Institute of Architects (SAIA) (https://SAIA.org.za/) is a voluntary association for Professional Architects. SAIA's mission is to act as the collective voice serving the interests of its members in pursuit of excellence and responsible design. It aims to uphold the dignity of the architectural profession and contribute meaningfully to the enhancement of society and the environment. The fundamental principles of equality and justice are implicit in our Constitution. SAIA incorporates the nine existing regional institutes: Border-Kei [Eastern Cape], CIfA [Western Cape], Eastern Cape, Free State, GIfA [Gauteng], KZNIA [KwaZulu-Natal], Limpopo, Mpumalanga and PIA [Gauteng].

 About GIfA:
The Gauteng Institute for Architecture (GIfA) (www.GIfA.org.za/) boasts a rich legacy, tracing its roots back to 1900 as the Transvaal Institute of Architects. Today, we're dedicated to nurturing architectural excellence and raising awareness of the built environment. Our focused committees explore specific topics, addressing both current and historical issues. Moreover, we offer extensive training and development opportunities to members, ensuring continuous professional growth. Through collaborative endeavors and innovative initiatives, GIfA remains at the forefront of architectural advancement, enriching our profession and the communities we serve in the greater Johannesburg area.

About University of Johannesburg:
At the Department of Architecture (https://apo-opa.co/3YlLbg4), our vision is to become the leading school of architecture on the sub-continent via the pursuit of alternative, progressive, and critical spatial practices. We continually strive to be the embodiment of a design-led school of architecture by exploring the making of contextually responsive and appropriately built environments. Our mission is to broaden the scope of architecture through collaborative processes of innovative design, research, and making. We define our identity as a school of architecture that encourages teaching philosophies and a design-studio culture closely related to the changing nature of contemporary cities, specifically Johannesburg, the city which gives our university its name. We achieve this mission by integrating the physical, theoretical, field, and design studio.

 About Energy Capital & Power:
Energy Capital & Power (ECP) ECP (https://EnergyCapitalPower.com) is the leading Africa-focused global energy investment platform. Through events, advisory work, news, online content and investment reports, ECP unites the entire energy value chain – from oil and gas exploration to renewable power generation – and facilitates global and intra-Africa investment and collaboration. ECP is committed to bringing together like-minded people with the common objective of facilitating the critical investments that will power Africa's economies, build communities and shape societies. ECP is the place to meet dealmakers and make deals. The company covers the whole value chain of the energy sector: oil and gas, power generation, infrastructure, renewable energy, mining, energy infrastructure, investment and finance and government.

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31 July 2024

Industry Leaders Forum at CMA 2024 to Drive Sustainable Mineral Production

Location: News

Energy Capital & Power
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UN Secretary General António Guterres appointed (https://apo-opa.co/3WNr7Cg) a panel dedicated to developing a framework that ensures equity, transparency, sustainability and human rights among critical mineral extraction activities, in April 2024. Uniting government and industry stakeholders, the panel aims to encourage developing countries, including those in Africa – which holds over half of the world's cobalt and manganese reserves and over one-fifth of aluminum and copper reserves – to leverage its critical minerals for enhanced job creation, economic diversification and export revenues.

Reflecting similar priorities, the Critical Minerals Africa (CMA) summit — scheduled for November 6-7 in Cape Town — will host an Industry Leader Forum to explore strategies for ensuring sustainable mineral production and navigating external factors like geopolitical risk, digital transformation and the energy transition. It will also address recent high-level initiatives – from the African Green Minerals Strategy to the global Minerals Security Partnership – and their role in shaping best practices for building resilient mineral supply chains. 

Initiated in 2022 by the African Development Bank, the African Green Minerals Strategy (AGMS) (https://apo-opa.co/3y8dZy4) serves as a comprehensive framework for leveraging the continent's mineral resources for industrialization and the development of green technologies. The AGMS aims to articulate Africa's interests in a rapidly changing world, build and retain local value, create jobs, develop new industries, and foster greener economies, as global demand for transition minerals rises. 

Meanwhile, the US-led Minerals Security Partnership (MSP) (https://apo-opa.co/3YpZf87) represents a collaborative effort among 14 countries and the European Union to bolster investment in responsible critical minerals supply chains. Through partnerships with governments and industries, the MSP provides support for strategic projects, particularly focusing on lithium, cobalt, nickel, manganese, graphite, rare earth elements and copper. Given Africa's abundant mineral reserves, collaboration with the MSP is particularly relevant for the continent, enabling responsible mineral extraction and supporting local communities and economies, while advancing global clean energy goals.

In February 2023, MSP partners gathered in South Africa to establish guiding principles for global project development, emphasizing local value addition and maintaining sustainability and ESG standards. Representatives from mineral-rich nations, including non-MSP countries like Angola, Botswana, the Democratic Republic of the Congo (DRC), Tanzania, Uganda and Zambia, joined the discussions. The meeting sought to ensure that the growth of critical minerals supply chains benefits all stakeholders equitably, underlining the MSP's commitment to responsible mineral extraction and sustainable development.

Furthering efforts to ensure a steady and sustainable supply of CRMs, the EU launched its Critical Raw Materials (CRM) Act in March 2023, as European demand for rare earth metals is expected to increase six-fold by 2030. As part of this initiative, the EU has engaged with several African countries including the DRC, Zambia, Rwanda and Namibia through various MOUs. These agreements aim to foster collaboration within integrating sustainable raw materials value chains, mobilizing funds for infrastructure development, promoting sustainable and responsible production practices, encouraging research and innovation and enhancing capacity building efforts.

Within this context, the Industry Leaders Forum: Driving Innovative Minerals Production at CMA 2024 will explore key trends within the African and global critical minerals landscape. Leaders will discuss how initiatives like the AGMS, MSP and European CRM Act will shape the future of sustainable mineral production and global supply chains.

CMA is the largest gathering of critical mineral stakeholders in Africa. Taking place from November 6 – 7 in Cape Town, the event positions Africa as the primary investment destination for critical minerals. This year's edition takes place under the theme Innovate, Enact, Invest in African Critical Minerals to Sustain Global Growth, connecting African mining projects and regulators with global investors and stakeholders to untap the full potential of the continent's raw materials. Sponsors, exhibitors and delegates can learn more by contacting sales@energycapitalpower.com.

Distributed by APO Group on behalf of Energy Capital & Power.

Read moreIndustry Leaders Forum at CMA 2024 to Drive Sustainable Mineral Production
31 July 2024

CSA And ACB Announce Three-Match ODI Series

Location: Sport

JOHANNESBURG: Cricket South Africa (CSA) and the Afghanistan Cricket Board (ACB) are pleased to announce a historic three-match One-Day International...

Read moreCSA And ACB Announce Three-Match ODI Series
31 July 2024

Exness strengthens Financial Sector Conduct Authority (FSCA) regulatory status with Over-the-Counter Derivative Provider (ODP) license acquisition

Location: Business
Exness

Exness (https://apo-opa.co/3LKDl87), one of the largest multi-asset retail brokers in the world, has announced that it has reached yet another significant regulatory milestone. The Financial Sector Conduct Authority (FSCA) has granted the company an ‘Over-the-Counter Derivative Provider' (ODP) license in South Africa, broadening its license portfolio.

This achievement underscores Exness' dedication to client security, high regulatory standards, and transparency within the South African market.

The ODP license mandates stringent risk management protocols, and reporting standards, providing clients with an extra layer of protection in the trading environment. This enhanced regulatory status further reinforces Exness' position as a trusted broker for local traders.

Paul Margarites, Exness Regional Commercial Director, said, "The ODP license acquisition signifies a significant stepping stone for Exness in South Africa. Our promise to provide a frictionless trading experience doesn't stop at trading conditions and a seamless client journey but extends to robust safety and security measures that put our clients first. In today's online trading landscape adherence to the FSCA's stringent standards ensures that our South African clients have an extra layer of peace of mind when trading with Exness.”

Exness uses technology and ethics to raise the industry benchmark and create favourable conditions for traders. It offers clients a frictionless trading experience through its superior proprietary platform and unique market protections, allowing traders to experience how the markets should be.

Distributed by APO Group on behalf of Exness.

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30 July 2024

Transnet forging ahead with reforms

Location: News

Transnet forging ahead with reforms

Transnet says it is making “considerable progress” in the implementation of reforms in accordance with the Freight Logistics Roadmap and the Guarantee Framework Conditions issued to Transnet by National Treasury.

The reforms include the reform of Transnet’s rail business, corporatisation of the Transnet National Ports Authority (TNPA) and the disposal of the company’s non-core assets.

Transnet Group Chief Executive, Michelle Phillips, said: “These initiatives are a demonstration of Transnet’s commitment to the structural reforms in response to the changes in policy and regulations. In some cases, these changes entail entry of third parties in the rail and port networks, which is a necessary step to stimulate competition and address long-standing challenges such as underinvestment.”

Rail reform

Transnet said the rail reform process is on track.

This includes what the company calls the “vertical separation of Transnet Freight Rail (TFR) into a Rail Operating Company and an Infrastructure Manager”.

“Since the publication of the draft railway Network Statement in March 2024, Transnet actively participated in a consultation process facilitated by the Interim Rail Economic Regulatory Capacity (IRERC). This was in preparation of the finalisation of the final Network Statement to open train slots for third party train operator access.

“Following extensive consultations to align with key stakeholders, the Interim Infrastructure Manager has made the input to the IRERC, and Transnet looks forward to the publication of the final network statement and proposed tariff methodology to open slots for third party access by 30 September 2024,” Transnet said.

According to Transnet, the Rail Operating Company and Infrastructure Manager operating models, and organisational designs are expected to be finalised in the first quarter of 2025.

Non-core assets and TNPA 

The corporatisation of the TNPA is expected to culminate in the establishment of the National Ports Authority, which will be wholly owned by Transnet.

Work is underway to complete the Memorandum of Incorporation and the Registration of the National Ports Authority.

“The reform will enhance TNPA’s regulatory oversight on terminal operators across its port network. The corporatisation will establish TNPA as a financially autonomous entity capable of generating its own revenue, attract increased investments to improve the efficiency and positioning of SA ports to enhance competitive maritime trade and create appropriate partnerships. 

“It will also, through its independence, enhance terminal licence oversight and align with international standards and regulations governing port authorities and ensure compliance with South African maritime and port regulations,” Transnet explained.

Furthermore, the company said its disposal of non-core assets is also progressing well.

“The disposals will generate cash and reduce holding costs. The Transnet Board of Directors has approved a plan for the disposal of the non-core assets. Transnet will finalise the full list of non-core assets for disposal in the current financial year,” the entity said. – SAnews.gov.za

NeoB
Tue, 07/30/2024 - 09:47

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Read moreTransnet forging ahead with reforms
30 July 2024

South Africa crowned the 2024 Ignition Group Polocrosse World Cup champions!

Location: MyPR

In a nail-biting 2024 Ignition Group Polocrosse World Cup final on Sunday, South Africa narrowly beat reigning champions, Australia 29-28 – earning them a third World Cup title. Sunday’s final concluded a fantastic competition which ran from 17 to 28 July at the Durban Shongweni Club in the Valley of 1000 Hills. Spectators were kept …

Read moreSouth Africa crowned the 2024 Ignition Group Polocrosse World Cup champions!
30 July 2024

The Rich History of Soweto: A Tour of Johannesburg’s Most Vibrant Township

Location: MyPR

Introduction Soweto, short for South Western Townships, is one of the most historically rich and vibrant areas in Johannesburg. A Soweto tour offers a unique glimpse into South Africa’s past and present, making it a must-visit for anyone exploring Johannesburg.   The Origins of Soweto Soweto’s origins date back to the early 20th century when …

Read moreThe Rich History of Soweto: A Tour of Johannesburg’s Most Vibrant Township
30 July 2024

Strong bipartisan backing from the US for the reauthorisation of AGOA

Location: News

Strong bipartisan backing from the US for the reauthorisation of AGOA

South Africa’s position at the 21st African Growth and Opportunity Act (AGOA) Forum was to reset and create partnerships with an emphasis on industrialisation, building a capable state and job creation. 

“As the dtic [Department of Trade, Industry and Competition] family, we regard the AGOA Forum as a crucial engagement reinforcing the strong economic ties between South Africa and the United States and our African continent,” Trade, Industry and Competition Minister Parks Tau said.

He said the mutually beneficial economic and trade partnership was highlighted by the more than 600 US businesses operating in South Africa and with over 1.3 million jobs created in sub-Saharan Africa.

The Minister was addressing the media in Cape Town on Tuesday to present some of the major outcomes that emanated from the two international engagements, AGOA and the 14th BRICS+ held in the United States and in Moscow, Russia, recently.

Parks said South Africa received strong bipartisan backing from the US Congress and colleagues in the US Administration for the reauthorisation of AGOA.

Proposals presented by the South African delegation included the extension of AGOA for stability, improved rules of origin, and adjustments to the eligibility review process to preserve regional value chains and enhance Africa’s manufacturing capabilities.

“The importance of maintaining these value chains was emphasised, with calls for AGOA enhancements to support the Africa Continental Free Trade Area (AfCFTA) integration.

“AGOA and AfCFTA should be viewed as complementary forces crucial for Africa’s economic integration rather than as separate entities. 

“AGOA has significantly expanded Africa’s access to US markets, while AfCFTA aims to create a unified continental market by eliminating tariffs and fostering economic cooperation among African nations,” Parks said.

Parks said to fully leverage both frameworks, AGOA’s provisions should be enhanced to support AfCFTA’s goals.

“This includes extending AGOA to provide trade stability, improving rules of origin to streamline the integration of regional value chains, and adjusting the eligibility review process to reflect AfCFTA’s progress,” he said.

The Minister said by aligning AGOA with AfCFTA, Africa can create a more cohesive economic structure that boosts intra-African trade, enhances manufacturing capabilities and integrates regional economies into the global market and driving sustainable growth across the continent.

“I would like to commend Deputy Minister Andrew Whitfield for his exceptional facilitation during the highly contested meeting that determined the host nation for AGOA in 2025. He navigated such a challenging and contentious environment skillfully. DM Whitfield's adept handling of the situation was crucial in achieving a balanced and effective outcome.

“Equally, Deputy Minister Zuko Godlimpi represented South Africa at the pivotal BRICS+ Trade Minister’s Meeting. A key from the BRICS+ Meeting was to call for a predictable, fair and equitable trade environment consistent with WTO’s rules as crucial for advancing economic prosperity,” the Minister said.

The outcomes emanating from the BRICS+ Meeting included, among others: 

- The need for coordinated multilateral action on climate change and expressed concerns about unilateral measures like the Carbon Border Adjustment Mechanism (CBAM) impacting developing countries. Furthermore, they agreed to ensure climate measures respect WTO commitments and resist discriminatory practices.

- The potential of e-commerce to enhance market access and economic growth with calls for developing international rules and standards to address challenges such as cross-border taxation and data privacy.

- The role of SEZs in driving economic growth and investment was discussed, with a commitment to sharing best practices.

Parks said both the AGOA Forum and the BRICS Trade Ministers Meeting were fundamental in advancing international trade relations and economic cooperation.

“These engagements underscore the importance of cooperative trade relations in shaping a more equitable and sustainable global economy.

“They both underscore South Africa’s commitment to pursue transparent and strategic partnerships with both our Global North and Global South partners guided by the global policy and programmatic blueprints such as the SDGs, the Paris Climate Accord, the AU’s Vision 2063, and our very own NDP,” Parks said. – SAnews.gov.za

Edwin
Tue, 07/30/2024 - 12:32

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Read moreStrong bipartisan backing from the US for the reauthorisation of AGOA
30 July 2024

World faces era of new economic challenges

Location: News

World faces era of new economic challenges

The world is entering an era of new economic challenges, even as the recent ones have yet to be overcome, says South African Reserve Bank (SARB) Governor Lesetja Kganyago.

“The global economy continues on a long recovery path from the pandemic. This path has been a troubled one, and despite better prospects in recent months, remains beset by risks and vulnerabilities built up during the pandemic. 
“Inflation remains stubbornly high, and public debt levels globally are at record levels,” the Governor said on Tuesday.

Addressing the 104th annual Ordinary General Meeting of the SARB shareholders in Pretoria, Kganyago asserted that technological development carries both risks to cybersecurity and the hope of large and sustained boosts to global productivity.

“Inflation remains a major policy concern for central banks globally. Although global inflation declined from 8.7% in 2022 to 6.8% in 2023 and continues to ease in 2024, it remains high relative to the 2–3% inflation targets that many countries are trying to achieve.

“Restrictive monetary policy, along with the recovery in supply chains and other pandemic-related bottlenecks, has helped inflation to recede from its 2022 highs. However, global disinflation has slowed recently, as is well illustrated by consumer price inflation in the United States (US) still sitting at 3% relative to their 2% target,” Kganyago said.

He said the slow pace of disinflation reflects a pattern of lower imported inflation but higher services inflation across most economies. 

“In some [economies], rising wages and sustained pent-up demand for services have been key factors. In emerging markets specifically, fiscal challenges and sustained currency depreciations have played more of a role.

“Policy commitment to reduce inflation back to targets has been strongly signalled around the globe, and central banks have generally been cautious in their approach to policy. Deepening geo-economic fragmentation, higher temperatures and other supply-related risks raise concerns about the long-term prospects for inflation, and considerable effort is going into reassessments of neutral real rate levels,” the Governor said.

While inflation remains higher than desired, global economic activity has proven to be more resilient than expected. 

“Global growth surprised higher at 3.3% in 2023, despite considerable divergence in growth across individual economies. Generally, however, global growth rates are expected to remain below pre-pandemic trends. This reflects the impact of protectionist measures on global trade, relatively tight financial conditions as well as uncertainty of future policy trajectories,” Kganyago said.

Domestic real economy developments

Despite South Africa’s low economic growth, employment levels have recovered the 2.2 million jobs lost during the height of the pandemic.|

“As of the first quarter of this year, total employment surpassed its 2019 level. Nonetheless, job creation has been too slow and not enough to offset the growth in the labour force, leaving the unemployment rate elevated at 32.9% in the first quarter of this year,” the Governor said.

The South African economy slowed to 0.7% in 2023 from 1.9% in 2022, and remains well below growth in peer emerging markets.

“Load shedding and logistical challenges have been weighing heavily on economic activity, depressing the credit appetite of businesses and the spending of households.

“South Africa’s tailwind for growth coming from strong terms of trade continued to fade, despite still remaining at historically good levels. Exports also suffered over the past 12 months from energy and logistics challenges as much as price factors. Imports were also muted by logistics. 

“As energy and logistics constraints continue to ease, the growth outlook will also improve. The domestic economy is expected to grow by 1.1% this year, rising to 1.7% by 2026, as both household spending and investment start to strengthen,” Kganyago said.

Domestic inflation dynamics

As with the global trend of moderating inflation, South Africa’s headline inflation decelerated over the past year, falling from 6.9% in 2022 to an average of 6% in 2023.  

“These annual averages, however, hide the ongoing volatility in the underlying components of inflation, in turn demonstrating the risks and uncertainty marking the disinflation path. 
“Since September of last year, headline inflation has been fluctuating between 5% and 6%, with frequent monthly setbacks coming from fuel, food and services prices.

“In February, core inflation rose by 0.4 percentage points to 5%, propelled sharply higher by medical insurance inflation. Encouragingly, as of June, core inflation has moved to 4.5%,” Kganyago said. 

The SARB sees core inflation averaging 4.6% this year, from 4.8% last year. Inflation expectations eased in the first half of this year, but still remain well above the midpoint of the target band.  

“While headline inflation came out between 5% and 6% for much of the past year, our current forecast shows it easing to 4.9% this year, pulled lower mainly by softening food and fuel inflation, and resting at the midpoint in 2025 and 2026. 

“Even with some quantitative and qualitative adjustments to risk perceptions over time, the Monetary Policy Committee (MPC) has felt it appropriate to maintain the repurchase (repo) rate at 8.25% – a level set in May of 2023,” he said. - SAnews.gov.za
 

 

nosihle
Tue, 07/30/2024 - 14:14

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Read moreWorld faces era of new economic challenges
30 July 2024

Social Department reaffirms its commitment to protecting children from trafficking

Location: News

Social Department reaffirms its commitment to protecting children from trafficking

The Department of Social Development (DSD) has reaffirmed its commitment to combating human trafficking, focusing on the protection of children as the world commemorates World Day Against Trafficking in Persons.

This year’s theme focuses on leaving no child behind in the fight against human trafficking.

The World Day Against Trafficking in Persons is observed annually on 30 July to raise awareness about human trafficking and to promote and protect the rights of trafficking victims.

The department has since taken the time to remind South Africans especially caregivers about the prevalence of human trafficking and appeal for their vigilance when it comes to protecting children.

Citing the June 2023 publication by the Human Sciences Research Council (HSRC), the department said it was estimated that a possible 250 000 people have fallen victim to human trafficking in South Africa alone.

“This serves as a grave violation of human rights and dignity. On this World Day Against Trafficking in Persons, the Department of Social Development stands united against this heinous crime,” the department said.

According to the department, children represent a significant proportion of trafficking victims worldwide, with girls being disproportionately affected.

In terms of the United Nations Office on Drugs and Crime’s Global Report on Trafficking in Persons, children are twice as likely to face violence during trafficking than adults.

Sub-Saharan Africa, North Africa, and the Caribbean, according to the department, make up 60% of detected trafficking victims.

“In addition to conflicts, pandemics, economic hardships, and environmental challenges, the proliferation of online platforms poses risks as children often connect to these sites without adequate protection.”

The department explained that traffickers exploit online platforms, social media, and the dark web to recruit and exploit children.

They also use technology to evade detection, reach wider audiences, and disseminate exploitative content.

“Countries including South Africa, are required to prioritise child protection, bolster legislation, improve law enforcement, and allocate more resources to combat child trafficking.”

The department has since called for prevention efforts to target root causes of human trafficking such as poverty and inequality to reduce children’s vulnerability with special attention paid to trafficking of children on the move or in transit.

According to the department, South Africa remains a source, transit, and destination country for men, women and children subjected to the crime of trafficking for forced labour and sexual exploitation.

“This means South Africans are being trafficked to other parts of the globe while the country is also used by traffickers to harbour victims in transit to other countries where they are going to be exploited.

“Victims of trafficking are also brought into the country to be exploited.”

Meanwhile, traffickers are said to control victims through deception, intimidation, threats, use of force, withholding of passports, debt bondage, and forced use of drugs and alcohol.

The department has described the Prevention and Combating of Trafficking in Persons Act (PACOTIP) of 2013 as a critical legislative tool in South Africa’s fight against human trafficking.

The South African government, through the Department of Social Development has implemented various measures to prevent child trafficking. The PACOTIP Act aims to align with international agreements and provides for the prosecution of traffickers, protection of victims, and coordination of anti-trafficking efforts.

The Department of Social Development’s Gyan Dwarika said the significance of the PACOTIP Act, in conjunction with the Children’s Act, in safeguarding vulnerable children and ensuring their rights and safety are upheld.

“The Act ensures that any child identified as a victim of trafficking is treated as a child in need of care and protection mandates immediate reporting and investigation of suspected cases, and provides for the safe placement and care of trafficked children,” Dwarika said.

Dwarika’s roles in the department include focusing on child labour, commercial sexual exploitation of children, online safety, and child marriages.

The department said they also offer victims of child trafficking comprehensive support and rehabilitation services.

These include psychological counselling, medical care, legal assistance, and placement in Child and Youth Care Centres (CYCCs).

She said community involvement was crucial in preventing and combating child trafficking.

“International cooperation strengthens the response to the repatriation process of children trafficked into and out of South Africa. It ensures that children are repatriated safely and in line with international standards, considering factors like the best interests of the child and the safety of the repatriation process.”

Victims are also placed in accredited shelters where they are cared for by shelter staff and social workers to determine if they were trafficked.

Through the Criminal Assets Recovery Account (CARA) fund, the department is procuring a fleet of 10 vehicles to be distributed to gender-based violence (GBV) shelters accredited to accommodate victims across all nine provinces.

The Western Cape has partnered with the Passenger Rail Agency of South Africa (Prasa) to create awareness at the Cape Town bus rank. – SAnews.gov.za

Gabisile
Tue, 07/30/2024 - 15:11

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Read moreSocial Department reaffirms its commitment to protecting children from trafficking
30 July 2024

SA All-Comers Record Holder, Christine Njoki sets her sights on the Totalsports Women’s Race in Durban

Location: MyPR

Exactly one month after setting a new South African all-comers record and personal best at the Absa RUN YOUR CITY DURBAN 10K, Kenya’s Christine Nalimo Njoki will be aiming for an even more impressive performance when she competes in one of South Africa’s most iconic Women’s Month celebrations, the Totalsports Women’s Race in Durban, this …

Read moreSA All-Comers Record Holder, Christine Njoki sets her sights on the Totalsports Women’s Race in Durban
30 July 2024

Welo – Using technology to enable human healthcare connections

Location: MyPR

In the world of entrepreneurship, the most remarkable stories often begin with a personal challenge. For Zanele Matome, Founder and CEO of Welo, that challenge is the lack of affordable access to healthcare services for an overwhelming majority of South Africans. Having spent 15 years in the construction and mining sectors, Matome saw firsthand the …

Read moreWelo – Using technology to enable human healthcare connections
30 July 2024

Tatjana Smith glitters at Paris Olympics

Location: News

Tatjana Smith glitters at Paris Olympics

South African swimmer Tatjana Smith has bagged the nation’s first gold medal at the 2024 Paris Olympics, putting on a glittering performance in the women’s 100m breaststroke.

Smith finished the race at 1:05.28 on Monday.

“Smith’s own Olympics tally has now grown to three, with two golds and a silver, and one more will see her equal Chad le Clos on four, the most of any South African Olympian. The chances of her adding to that total later in the week are high, given she’s the reigning champion in the 200m,” the South African Sports Confederation and Olympic Committee (SASCOC) said.

Nearly 150 athletes are representing Team South Africa at Paris 2024 - in the country's 21st appearance at the Olympic Games, taking place from 26 July to 11 August.

“I had no idea where I was most of the race. I actually didn’t think I medalled because when I turned to my left, the two blocks next to me both had lights on and it felt like someone else on the other side touched first.

“So, I actually didn’t think I was medalling. My main goal was just to not do what I did in Tokyo and look around. So literally the last 15 metres, I was like, no, close your eyes, let’s just go,” Smith said.

President Cyril Ramaphosa congratulated Smith in a post on social media platform X, adding that he looked forward to more spectacular performances. - SAnews.gov.za

nosihle
Tue, 07/30/2024 - 10:21

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Read moreTatjana Smith glitters at Paris Olympics
30 July 2024

Beneficiaries are still battling with SASSA’s new biometric system

Location: News

Pilot programme rolled out to help recipients of the Social Relief of Distress grant to verify their identity

Read moreBeneficiaries are still battling with SASSA’s new biometric system
29 July 2024

From Moms to Markets: Rush Nutrition’s Journey of African Superfoods & Women’s Empowerment

Location: MyPR

Rush Nutrition has created a proudly African range of Superfoods, snacks and beverages built on a foundation of feminine innovation and ingenuity. · 100% vegan, kosher and Halaal, the Rush stable of premium quality and natural health solutions are 100% healthy and natural · Nutrient-dense, clean, and pure, the range of snacks and juices from …

Read moreFrom Moms to Markets: Rush Nutrition’s Journey of African Superfoods & Women’s Empowerment
29 July 2024

Mpondoland dagga growers left out to dry

Location: News

Six years after the Constitutional Court judgment, small-scale dagga growers are sliding deeper into poverty while businesses profit in South Africa’s “cowboy” cannabis industry

Read moreMpondoland dagga growers left out to dry
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