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In the intricate world of assets and valuables, understanding the true worth of items is paramount. Whether it’s a piece of real estate, a vintage car, or a piece of art, having a clear and accurate valuation can make a significant difference in decision-making processes. Here’s a look at the diverse range of valuation services …
Leading African law firm Bowmans is further strengthening its private equity presence through the appointment of Zingisa Motloba as partner in its Johannesburg office. ‘Zingisa has an impressive array of skills and experience, including an excellent understanding of risk management in ESG matters, from which our private equity clients stand to benefit’ says Ezra Davids, …
Cabinet’s concurrence of the Tourism Sector Masterplan welcomed
Tourism Minister Patricia de Lille has welcomed Cabinet’s concurrence of the Tourism Sector Masterplan, which was gazetted on Friday.
“Implementing the masterplan will create opportunities for inclusive participation of all sectors of society, including women, youth and people with disabilities. This plan also gives impetus to the recovery and sustained growth of the sector,” said de Lille.
Due to its multiplier effect, labour intensity and value chain that creates significant employment opportunities, tourism is recognised as a priority sector of the South African economy.
The sector’s interlinkages with other economic sectors provides business opportunities for Small, Micro to Medium Enterprises, which is why it was identified as one of seven key sectors in South Africa's Re-Imagining Industrial Strategy, approved by Cabinet in 2019.
This is the basis upon which the Tourism Sector Recovery Plan (TSRP) was converted into a comprehensive Tourism Sector Masterplan.
The conversion of the Tourism Sector Recovery Plan into the Tourism Sector Masterplan was one of the key priorities given to Minister de Lille by President Cyril Ramaphosa as part of her performance agreement. This priority has now been achieved, said the department.
“The masterplan aims to galvanise industry, labour and government to collectively act on a shared vision, identify priorities, and deliver economic activity and jobs for all South Africans,” de Lille said.
As the Tourism Sector Recovery Plan has a lifespan of three years, from 2021/22 to 2023/24.
The department had embarked on a process to convert the TSRP into the Tourism Sector Masterplan. “This entailed the integration of all TSRP interventions into the Tourism Sector Masterplan, with the extension of the timeframe for implementation up to the 2025/26 financial year,” the Minister said.
Additionally, the vision, mission, guiding principles and values of the National Tourism Sector Strategy (NTSS) 2016 – 2026 were adopted.
Institutional and governance responsibilities for developing and implementing the masterplan were added in accordance with the masterplan guidelines to prepare, develop and implementation of the masterplan.
The TSRP was a three-year, highly focussed intervention and product of collaboration with key stakeholders from the government, the private sector and other social partners aimed at mitigating the impacts of the COVID-19 pandemic on the tourism economy and charting a roadmap for recovery.
It proposed various measures to protect and rejuvenate supply, reignite demand and strengthen enabling capability for tourism recovery.
Overall, the plan proposed seven strategic interventions underpinned by specific actions aimed at helping the sector recover to pre-pandemic levels and positioning the sector for long-term sustainable growth.
The plan is aligned to the Economic Reconstruction and Recovery Plan (ERRP), in particular to the ERRP's priorities in the areas of employment creation, infrastructure investment, green economy or sustainability interventions inclusion of women and youth as well as skills development.
The Tourism Sector Masterplan is available on the department’s website at: www.tourism.gov.za and a copy of the gazette can also be viewed on: https://www.tourism.gov.za/AboutNDT/Publications/Government%20Gazette%20Number%2049503%20-%20Tourism%20Sector%20Masterplan.pdf. – SAnews.gov.za
Edwin
Tue, 10/17/2023 - 10:54
For many small and medium enterprise (SME) owners, running a business isn’t just a job but an integral part of who they are. The boundaries between personal and business life often blur, meaning that the health of their businesses is inextricably tied to their personal, emotional, and mental well-being. This means that the many unique …
Green hydrogen economy plays prominent role in SA’s just energy transition
President Cyril Ramaphosa has highlighted the vital role the green hydrogen economy plays in the country’s development and just energy transition.
“The hydrogen economy has a prominent role to play in our country’s just energy transition, providing employment and support to vulnerable workers, communities and small businesses.
“It has been estimated that the hydrogen economy has the potential to add 3.6% to our GDP by 2050 and approximately 370 000 jobs. We must act with purpose to harness the potential of the green hydrogen economy,” the President said.
President Ramaphosa was delivering remarks at the second iteration of South African Green Hydrogen Summit (SAGHS) in Century City, Cape Town, on Monday.
The inaugural SAGHS, held in 2022, reaffirmed South Africa as an investment destination of choice and a world leader in the green energy space. It focused on scaling up regional cooperation around green hydrogen.
This second summit aims to highlight South Africa’s exceptional potential as an early stage, large scale and low cost world-class green hydrogen production hub, and total value chain investment destination.
South Africa’s Investment Strategy, approved by Cabinet earlier this year, lists green hydrogen as one of the big frontier strategic sectors expected to attract foreign and domestic direct investment.
The President emphasised the nation’s goal to position itself as a globally competitive player in this dynamic and growing industry.
The President noted that 64 countries, accounting for 89% of global emissions, have announced net zero targets by 2050. He further said that is anticipated that global green hydrogen demand will increase sevenfold by 2050.
He said that for the world to limit global warming to less than 1.5 degrees Celsius, green hydrogen will need to constitute 10% to 20% of the global energy mix.
“South Africa has committed to ambitious emission reduction targets. Our own estimates indicate that green hydrogen has the potential to remove 10% to 15% of our domestic emissions and contribute to our nation’s long-term energy security,” he said.
Green Hydrogen Alliance
The President acknowledged the collaboration efforts being made through the African Green Hydrogen Alliance, which includes Egypt, Kenya, Mauritania, Morocco, Namibia, Ethiopia, Angola and South Africa.
The alliance aims to harness Africa’s potential in developing green hydrogen industries. It aims to make joint calls for technical support, funding and market access to international public and private sector partners.
“The inaugural summit laid a strong policy foundation. This year’s summit has a dedicated project focus, providing an opportunity to demonstrate the degree to which projects have matured and advanced. This is also an opportunity to demonstrate technological developments and advancements in the green hydrogen space.
“Close cooperation between public, private and financial partners will be key to unlocking Africa’s green hydrogen potential. This will enable mass-scale domestic and international demand for green hydrogen, and increase cooperation on green hydrogen production, storage and distribution infrastructure,” President Ramaphosa said.
The President emphasised that if investment is significantly scaled-up, green hydrogen can deliver the equivalent of more than one third of Africa’s current energy consumption, increase the collective GDP, improve clean water supply and empower communities.
He said proper planning, regulation and incentive schemes are critical to mobilise private sector investment.
“South Africa has deep capital markets, with world-class conditions for generating renewable energy through solar and wind power, which are key drivers of the production of green hydrogen.
“Funding green hydrogen projects will require innovative financing structures sourced from multiple stakeholders,” President Ramaphosa said.
Building the green hydrogen industry
In June 2023, South Africa concluded a Heads of Agreement with the intention to launch the SA-H2 Fund. This is an innovative blended finance fund that will facilitate the development of a green hydrogen sector and circular economy in South Africa.
SA-H2 aims to secure $1 billion in funding raised directly in South Africa or via indirect channels. The Fund is a partnership of private and public enterprises, locally and globally.
Since the last Summit, the President said advances have been made towards building the green hydrogen industry in the country.
These include a Joint Declaration of Intent with the German government, focusing on market access, off-take opportunities and value-additive benefits in the production of green steel and green fertiliser.
South Africa has also signed a MOU with the Netherlands as an off-taker for green hydrogen derivative products.
“It is encouraging to note that a Memorandum of Cooperation will be signed at this conference by three multinationals in the green hydrogen mobility space, namely Sasol, Anglo American and BMW.
“Sasol will serve as a supplier to Anglo and BMW as part of their focus on commercial and passenger fleet transformation. These are important initiatives within the context of carbon border adjustment mechanisms,” the President said.
He thanked all the partners and sponsors that have made this summit possible. He sent a special mention to Anglo American, BMW, Sasol, the Industrial Development Corporation and GIZ.
“I wish business and government delegations at this summit well as we work to shape Africa’s green hydrogen agenda for the benefit of our economies and societies, now and into the future,” he said. – SAnews.gov.za
DikelediM
Mon, 10/16/2023 - 13:20
In today’s digital age, the way we transact and conduct business has seen a significant shift. The rise of contactless payment systems has not only made transactions quicker but also more secure. HaloDot, a pioneer in this domain, offers a suite of solutions tailored to meet the diverse needs of businesses and consumers alike. Let’s …
CAPE TOWN, SOUTH AFRICA, 11 October 2023 – Dutch-based technology platform Lisa BV will launch its smart leasing platform in South Africa after acquiring its core leasing technology platform from Inospace, South Africa’s largest last-mile logistics operator. Rael Levitt, founder and CEO of Inospace, announced Lisa’s breakthrough market entry today and confirmed that Inospace has …
KZN Premier welcomes provincial 4IR commission
KwaZulu-Natal Premier Nomusa Dube-Ncube says the Provincial Fourth Industrial Revolution (4IR) Commission is a game-changer in the march towards positioning KwaZulu-Natal as a smart province.
Speaking at the 4IR Commission inaugural meeting at the Archie Gumede Conference Centre in Mayville, Durban, on Friday, Dube-Ncube said the establishment of the commission is a "good progression from the approval of the Provincial Digital Transformation Strategy by the Executive Council in May 2020", whose main objectives is to guide the province towards government automation, integration and digitisation of services.
All this, Dube-Ncube said, is aimed at making service delivery efficient, and seizing economic opportunities and innovation to drive the digital transformation strategy of the province.
The 4IR Commission was appointed by the Premier after endorsement by the Executive Council in May 2023.The main target is to develop an integrated provincial 4IR strategy to achieve competitiveness in the key economic sectors, including agriculture, the oceans economy, finance, mining, manufacturing, information and communications technology (ICT) and electronics, tourism and business with science, technology and innovation, as a cross-cutting enabler.
Dube-Ncube said the commission will also accelerate the implementation of the Provincial Digital Transformation Strategy, and gain insight from professionals within the ICT sector.
The Premier said the commission represents a significant step forward in the province's journey towards embracing the transformative power of technology and innovation in a rapidly changing world and bridging the digital divide.
In establishing the 4IR Commission, Dube-Ncube said the province is demonstrating its commitment to harnessing the vast potential of this new era.
“We have assembled a distinguished group of experts, including innovators and thought-leaders, who will serve as the guiding force in navigating this uncharted territory. Their collective knowledge and wisdom will be instrumental in shaping our nation's approach to the Fourth Industrial Revolution,” Dube-Ncube said.
The 4IR Commission comprises the following members:
• Dr Leon Rolls: Chairperson of the 4IR Commission.
• Professor Chris Adendorff: Deputy Chairperson of the Commission.
• Langelihle Zulu: Commissioner.
• Dr Stella Bvuma: Commissioner.
• Dr Sibongiseni Thosetjane: Commissioner.
Rolls underscored the need for the 4IR Commission to build hope for a better and smarter future for KZN.
“We must be a connected smart province with a thriving digital economy. The time for talking and unending learning from other countries is over. We are going to vigorously implement this strategy now,” Rolls said. – SAnews.gov.za
GabiK
Mon, 10/16/2023 - 11:19
Government activities for the week, 16 to 20 October 2023
Government has scheduled the following briefings/activities for the week: 16 to 20 October 2023.
From Monday, 16 – Tuesday, 17 October, the Ministry in The Presidency for Electricity hosts the second iteration of the South Africa Green Hydrogen Summit (SAGHS). The summit will on Monday be addressed by President Cyril Ramaphosa.
On Monday, 16 October, the Deputy Minister of Public Works and Infrastructure, Bernice Swarts, will lead the signing of the Dr. Kenneth Kaunda District Development Model (DDM) “One Plan” document in the North West province.
From Monday, 16 October – Wednesday, 18 October, the Minister of Agriculture, Land Reform and Rural Development, Thoko Didiza, will conduct a three-day visit in the Dr Kenneth Kaunda District in the North West. The Minister will undertake various activities, including engagements with farmers and communal property associations on challenges facing them in the agricultural sector and the Barolong Boo Modiboa Community.
On Tuesday, 17 October, the Department of Women, Youth and Persons with Disabilities, in partnership with the South African Federation for Mental Health, will host a webinar to commemorate National Mental Healthcare Awareness Month.
On Tuesday, 17 October, the Minister for Small Business Development, Stella Ndabeni-Abrahams, will host the Pitch for Funding Competition in Stellenbosch, Western Cape.
On Friday, 20 October, the North West province will host the second leg of the Presidential Imbizo in J.B. Marks Local Municipality in the Dr. Kenneth Kaunda District Municipality.
Matona
Mon, 10/16/2023 - 11:51
South Africa, Namibia highlight areas of partnership
South Africa and Namibia have reached agreements in more than 150 areas which will deepen relations between the two Southern African countries.
This was announced by President Cyril Ramaphosa during the South Africa-Namibia Business Forum held in Namibia.
“Our Ministers of International Relations tabled a report at the Bi-National Commission where they reported on up to 159 areas of agreement that they have worked on in the past few days. This process started after His Excellency Hage Geingob visited South Africa on a state visit earlier this year.
“This business forum was presaged by those agreements that they have been working on for all this time. To have had up to 150-something areas agreement is a truly outstanding feat…that is a result of real good hard work,” he said.
The President said the two countries can use the opportunities presented by the African Continental Free Trade Area to position themselves as an industrialising hub for the continent with a focus on increased trade between the two countries and with the rest of the continent.
The agreements presented encouraged the two governments to deepen or broaden cooperation in four specific areas including in:
On Green Hydrogen, the President said: “South Africa is in the process of considering and finalising a Green Hydrogen Commercialisation Strategy. Namibia too is implementing its green hydrogen strategy. We can either go it alone as South Africa and Namibia or we can position this part of the west coast of the African continent as a key green hydrogen region.”
Turning to cross border value chains, President Ramaphosa said the two countries together have “the key elements of success”.
“We have raw materials, ranging from critical minerals to agricultural raw materials. We have technology, capital, an increasingly skilled and educated workforce and infrastructure. A number of value chains can be identified.
“One of these relate to our use of critical minerals to ensure that manufacturing takes place on the African continent,” he said.
President Ramaphosa highlighted South Africa’s favourability as an investment destination and called on Namibian businesses to do business in the country and called on South African companies to do the same.
“I want to invite Namibian businesses who want to expand their operations to set up businesses in our country. Similarly, South African companies can work with the government of Namibia and local business partners to set up operations here.
“In order to boost investment, we agreed earlier today to request our Ministers of Trade and Industry to work towards establishing a financing facility for industrial and productive development projects,” he said.
President Ramaphosa said business forums like the one held on Friday are an example of platforms that must be created to strengthen “dialogue and stimulate joint ventures” in the private sectors of both countries.
“Namibian businesses must see benefits from the involvement of South African firms in Namibia, and vice versa.
“I wish to welcome two key decisions we made at the Binational Commission today. They are, firstly, to deepen cooperation to attract private sector investment in agreed areas of cooperation.
“Secondly, to establish a South Africa-Namibia Business Council to serve as a public-private sector platform for coordinated and concerted actions,” President Ramaphosa said. - SAnews.gov.za
NeoB
Sun, 10/15/2023 - 12:53
Gordhan thanks Molefe for his service
Public Enterprises Minister Pravin Gordhan has thanked Popo Molefe for his contribution to Transnet, following his resignation from the state-owned freight and logistics company’s board.
He resigned from the board after serving for five years.
He was appointed as board chairperson in 2018 but was replaced by Andile Sangqu in July this year.
Molefe’s resignation comes barely two weeks after the announcement of the resignations of Group Chief Executive (GCE) Portia Derby and Group Chief Financial Officer (CFO), Nonkululeko Dlamini from the company.
“Mr Molefe and his board of directors have been at the forefront of our unrelenting push to reclaim Transnet from vested interests and state capture. We wish him well in his future endeavours and thank him for heeding the call to serve our country,” Gordhan said.
The department in its statement said Molefe’s resignation is due to personal reasons.
“The stepping down of Mr Molefe…must not be misconstrued or interpreted as being in any way related to the recent developments at the company,” the department said.
Meanwhile, Transnet has developed a turnaround plan for the company and expects to submit this to the department this coming week.
“The turnaround plan outlines operational and financial initiatives which must be implemented in the next six, twelve and eighteen months to stabilise the business and position the company for growth.
“The turnaround plan is predicated on several detailed goals to reform and strengthen the operational state of the freight rail division in particular, and with priorities of key elements, specifically the rail corridors that service key sectors of the economy,” Transnet said.
According to Transnet, the plan is premised on principles which include:
“The board has prioritised the filling of the three executive positions in the business, with the recruitment process having commenced this past week. The recruitment process is being prioritised for urgent finalisation, given the criticality of these positions to the organisation, and the lead role the incumbents will play in execution of the turnaround plan.
“The board also continues to work closely and collaboratively with stakeholders, including the National Logistics Crisis Committee,” Transnet said.
Transnet will meet with government this week to finalise the plan.
“[The] representative of the board will meet next week with the Shareholder Ministry as well as the Ministry of Finance to discuss the operational and financial details of the business turnaround plan, including areas which require immediate Government support.
“Once approved by the Shareholder and funding commitment is secured, the plan will be discussed with key stakeholders such as organised labour, employees, customers and lenders,” Transnet said. – SAnews.gov.za
NeoB
Sun, 10/15/2023 - 11:56
SARS, law enforcement agencies break coal syndicates
A massive inter-governmental search and seizure operation across five provinces was carried out on Thursday to break the back of a sophisticated criminal syndicate of alleged coal-smugglers, who played a major role in exacerbating the energy crisis and loadshedding.
The South African Revenue Service (SARS) was the lead agency in yesterday’s search and seizure operation because information became available regarding a host of tax crimes allegedly committed by members of the coal-smuggling syndicate.
“This success of today’s (Thursday) operation is due to exceptional inter-governmental co-operation and information-sharing under the auspices of the NATJOINTS Energy Safety & Security Priority Committee tasked with unmasking and bringing to book the criminals that have caused economic hardship and personal hardship to all citizens of the country,” said the South African Revenue Services in a statement.
“It is due to such hard work, often behind the scenes, that leads to these investigative breakthroughs and ensures that South Africans can return to a lifestyle without loadshedding. These targeted operations also help to prevent the loss of revenue to the fiscus, which in this case amounted to more than R500-million,” SARS said.
According to SARS, the alleged coal-smugglers and their related entities are active and have a presence in Gauteng, Mpumalanga, KwaZulu-Natal, Free State and Limpopo.
The suspects targeted yesterday include former Eskom employees who facilitated procurement fraud, as well as other individuals involved in the diversion of high-grade coal.
SARS managed to establish links between individuals and related entities and confirmed possible gross contraventions from a tax perspective in terms:
The sophisticated network of coal-smugglers is suspected to consist of local and foreign nationals. Coal trucks destined for power stations are diverted to designated coal yards where high-grade coal is replaced with low-grade or sub-standard product.
The high-grade coal is then exported or sold to willing buyers. The low-grade coal is often blended with scrap or other materials and then delivered to power stations.
The low-grade coal damages the infrastructure at the Eskom power stations, which is a major factor in crippling the power utility’s ability to generate electricity for the South African grid.
SARS Commissioner Edward Kieswetter commended the country’s law enforcement agencies for this massive breakthrough in ongoing investigations.
“It is because of such naked greed that the country has experienced unprecedented loadshedding, which harms business, undermines foreign direct investment and leads to job losses – all of which negatively affect revenue collection,” he said.
“All law enforcement agencies must continue their aggressive fight against criminality, each according to its mandate. For its part, SARS will continue to pursue taxpayers involved in intentional and wilful non-compliance – without fear, favour or prejudice,” Kieswetter said.
SARS is encouraged that the message is clear and unequivocal to all those involved in organised crime – you will be hunted down and brought to book. – SAnews.gov.za
Edwin
Fri, 10/13/2023 - 11:34
Fostering ventures specializing in the entertainment business in Africa Sony Group Corporation (“Sony”) announced today that it has established “Sony Innovation Fund: Africa” as an initiative to support the growth of the entertainment businesses in Africa. Since 2016, Sony has been participating in the ecosystem of new business creation around the world and has contributed …
Significant gains in access to education
Government’s policies geared at tackling school dropouts and increasing the completion of secondary schooling are producing positive results - as persons aged 20 years and older with no formal education reduced from 19.1% in 1996 to 6.9% in 2022.
This is according to South Africa's Census 2022 national results, which was handed over to President Cyril Ramaphosa by Statistician-General Risenga Maluleke at the Union Buildings in Pretoria on Tuesday.
“Furthermore, persons aged 20 years and older with some primary education decreased from 16.6% in 1996 to 7.4% in 2022. Over the period, there has been a noteworthy increase in the number of persons completing secondary education (16.3% in 1996 to 37.6% in 2022) and post-school education (7.1% in 1996 to 12.2% in 2022).
“In 2011 and 2022, business, economics and management sciences and education were dominated by females, while males continue to dominate in engineering as well as electrical infrastructure studies,” Maluleke said.
He said post-apartheid South Africa has experienced an expansion in the completion of secondary schooling for previously disadvantaged population groups.
“South Africa has geared up to intensify its measures through policy reforms to tackle school dropouts and increase completion of secondary schooling. However, race disparity in educational attainment intersects with other forms of disadvantage, including poverty and the urban-rural divide,” Maluleke said.
Considering the relatively high children and youth population due to the demographic dividends of the country, concerted efforts have been made by government to expand the education system.
This had been done through establishing more institutions, especially in the Early childhood development (ECD) sector, giving much-required attention to remote and rural areas, introducing new and skill-based programmes in institutions and providing funding such as the National Student Financial Aid Scheme (NSFAS) for disadvantaged learners planning to undertake higher education.
“The period between 1996 to 2001 showed a large increase in the percentage of young children under the age of compulsory education participating in education (23.1 percentage points among 5-year-olds and 21.2 percentage points among 6-year-olds).
“However, it is the decade between 2001 and 2011 that showed an unprecedented increase in participation among 5-year-olds with a rise of 35.5 percentage points in participation from 45.6% to 81.1%. Furthermore, nearly nine out of ten (92.4%) children of this age were attending educational institutions in 2022, which is a nearly 70 percentage points increase from 1996,” Maluleke said.
He said among 6-year-olds, less than half (49.1%) were attending educational institutions in 1996 but subsequently increased by 21.2 percentage points in 2001.
“The data also show high attendance rates among 6–7-year-olds in 2022, who would most likely be attending Grade R. However, the attendance rate starts to decline by age 15, with only six out of ten (59.9%) 18-year-olds attending educational institutions in 2022; a reduction from 75.7% in 1996,” Maluleke said.
In 1996, more than half (54.6%) of the 20-year-olds were in education, which reduced to 37.0% in 2022.
ECD programme
In South Africa, 3.4 million children aged 0 - 4 years attended ECD programmes in 2022, of which 2.5 million attended a crèche/educare centre or pre-school/nursery school/Grade 00/Grade 000/Grade R.
“About 570 000 children had parents who preferred that they stay with day mothers/gogos/childminders. The majority of children attending ECD programmes were attending a crèche/educare centre (59.8%) while 12.2% attended pre-school/nursery school/Grade 00/Grade 000/Grade R.
“Close to 27.0% of children stayed either with day mothers/gogos/childminders or participated in home/community playgroups. While more than 3 million black African children attended ECD programmes, seven out of ten (72,3%) attended ECD facilities, with 60,7% attending a crèche/educare centre and 11,6% attending pre-school/nursery school/Grade 00/Grade 000/Grade R.
“By contrast, among white children 83.4% attended ECD facilities with one-third (32.5%) attending pre-school/nursery school/Grade 00/Grade 000/Grade R and the rest attending a crèche/educare centre (50.9%). Close to 17.0% of black African children stayed with day mothers/gogos/childminders,” he said.
Maluleke also noted the use of day mothers/gogos/childminders for childcare was also high among Indians/Asians (19.6%).
Among coloured children, close to 19.0% participated in home/community playgroups. Results showed that there were slight differences between sexes.
An analysis of persons aged 5–24 shows that overall, the percentage of individuals attending an educational institution increased by three percentage points between 1996 and 2022.
“Attendance increased to almost universal level between 1996 and 2022 for children aged 5 years and 6 years, while the attendance rate starts to decline by age 15–24 over the same period. Attendance also increased for black Africans, coloureds and whites over the period, while Indians/Asians showed little change,” he said. – SAnews.gov.za
nosihle
Thu, 10/12/2023 - 13:45
Partnerships key to prosperity, job creation for youth, says Deputy President
Deputy President Paul Mashatile says partnerships between business and government are key to strengthening economic recovery and creating thousands of jobs in the energy, transport and logistics sectors.
“We must never undermine the importance of our efforts through structures such as NEDLAC [National Economic Development and Labour Council] and others, because it is indeed through these social compacts that we can further develop our country and empower South Africans,” Mashatile said on Thursday.
Speaking at the 7th Annual Solutions Exchange Conference in Johannesburg, Mashatile said government is encouraged by the pledges signed with 115 CEOs, who have demonstrated their willingness to help to implement some of the interventions undertaken towards socio-economic transformation.
Mashatile said the Department of Employment and Labour has spearheaded the National Pathway Management Network, which is a networking initiative that has brought together over 30 diverse partners to aggregate opportunities from across the economy.
He said the network enables young people to find earning and learning opportunities, enter the labour market and receive the support that they require to establish their own businesses at no cost.
“The SA Youth platform launched by Harambee, through the National Pathway Management Network, has over 4.1 million young people registered and is the largest platform in this network.
“This is an inclusive platform that uses cutting-edge technology such as geo-mapping, which allows for youth to be matched with opportunities closer to their residence, thereby saving transport and other costs.
“It is indeed this niche innovation that has made it possible for young people, who live further away from the economic hubs, to also access economic opportunities, and kick-start their entry into the labour market,” the Deputy President said.
Mashatile said young people have been supported to secure over one million opportunities on the system from over 1 000 opportunity holders.
“Our government remains committed to increasing private sector investment in order to promote job creation. To accomplish this, we have facilitated an investment drive with an initial target of R1.2 trillion over a five-year period.
“We have since mobilised nearly R1.5 trillion in investment commitments, therefore exceeding this goal and many of these investment commitments are expected to translate into actual employment,” he said.
He said the South African economy currently employs 5.1 million youth, 3.4 million of whom are employed in the formal economy.
“As we work closely with the business community to create jobs for our youth, we must not forget the power of entrepreneurship. The State has the responsibility to collaborate with business and the people in co-creating strong economies that enable development to occur,” the Deputy President said.
Mashatile said as leaders of government, business and civil society, they believe in the youth of South Africa, whose contributions will be critical in shaping the future of the economy. – SAnews.gov.za
Edwin
Thu, 10/12/2023 - 14:00
While plans for temporary relocation of 891 households occupying the Central Line are making progress, thousands of households remain on the railway
South Africa – Mbilwi Secondary School from Venda, Limpopo was announced as the winner of the Solve for Tomorrow schools competition at a ceremony at Birchwood Conference Centre in Johannesburg. The competition, which was run in partnership with the State Information Technology Agency (SITA), was aimed at giving grade 10 and 11 learners from underserved …
AFU freezes millions in assets related to alleged PPE corruption case
The National Prosecuting Authority’s (NPA) Asset Forfeiture Unit has obtained a preservation order against assets related to a PPE matter worth R27 million in the Northern Cape.
The order was granted against the assets of well-known Kimberley businessman Somandla Sibisi and his companies Macronym 37 and Aphiwokuhle Holdings.
The frozen assets include a residential property bought for some R900 000, a business property – known as Live Café – bought for more than R2 million, kitchen equipment bought for over R300 000 and a 2013 model Audi A1 car bought for R130 000.
NPA regional spokesperson, Mojalefa Senokoatsane, explained that the vehicle and property were allegedly bought with “the proceeds of the money received from the Northern Cape Department of Health” through PPE related tenders.
“This preservation order emanates from a case where…Sibisi, who is accused number nine, his company is accused number eight, in the Department of Health Northern Cape PPE-related matter amounting to more than R26 million, made his first appearance together with other twelve co-accused on 11 October 2023, in the Kimberley Magistrates’ Court.
“The accused are facing charges of Contravention of Provisions of Section 86(1) of the Public Finance Management Act (PFMA), fraud, corruption, forgery, money laundering, uttering, and defeating or obstructing the course of justice concerning the amount of more than R26.9 million.
“The preservation order, the arrest as well and the appearance in court flow from a multi-disciplinary exertion by the Asset Forfeiture Unit (AFU), the Special Commercial Crimes Unit (SCCU), the Special Investigation Unit (SIU), and the Directorate of Priority Crimes Unit (DPCI),” he said.
Sibisi’s co-accused in the case are:
“These assets will be preserved awaiting an application by the AFU for the final forfeiture to the State. Dr Dion Theys, Mosimanegape Gaborone, Montgomery Lifa Faas, Victor Nyokong, Siyabulela Booi, Elizabeth Dibueng Manyetsa, Goitsemodimo Piet Moseki, are also out on bail in another Department of Health Northern Cape PPE-related matter amounting to more than R16 million, that will be back in the Kimberley District Court on 16 October 2023,” Senokoatsane concluded. – SAnews.gov.za
NeoB
Thu, 10/12/2023 - 09:31
Pandor calls for urgent action to protect oceans, livelihoods
International Relations and Cooperation Minister, Dr Naledi Pandor, has called on world leaders to urgently take action to protect the oceans and people who depend on marine and coastal biodiversity for their livelihoods.
Pandor was speaking on Wednesday at the 23rd Council of Ministers (COM) meeting of the Indian Ocean Rim Association (IORA) held in Sri Lanka.
The IORA’s priorities, according to Pandor, are in recognition of the fact that 40% of the world’s population lives near coastal areas.
More than three billion people use the oceans for their livelihood, while 80% of world trade is achieved using the seas, the Minister said.
“The oceans, seas and coastal areas contribute to food security and poverty eradication.
“And yet, the oceans are under severe threat by human activities, where economic profits are at the expense of environmental degradation.”
Pandor highlighted acidification, pollution, ocean warming, eutrophication and fishery collapse as some of the issues facing the marine ecosystem.
“These threats are detrimental to the planet and are long-term repercussions that demand urgent action to protect the oceans and the people who depend on them.
“The Indian Ocean region, therefore, should remain our own peaceful zone from which we can enhance opportunities in trade and further develop our nations by advancing the protection that our oceans so dearly deserve.”
The Minister believes that the gatherings have succeeded in developing clear concepts around the IORA Development Initiative (IDI).
“I am also pleased that the High-Level Strategic Dialogue meeting, which was co-chaired by South Africa and the Secretariat, was a resounding success.”
The meeting, she said, reflected on the status quo and a vision of how the IORA should proceed.
“Several discussions were held on, amongst others, the achievements and challenges of the IORA’s first 25 years and what that meant for the IORA’s future work and the implementation of the IORA’s Outlook on the Indo-Pacific.”
Pandor is of the view that these issues are significant and will continue to help strengthen the association that is becoming increasingly important on the global stage.
“IORA member States and dialogue partners made it clear that they desire collaboration, regional cooperation, freedom of navigation, consensus building actions, partnerships, shared prosperity, rules-based norms in the Indo-Pacific and not disunity, hostility, divergence and increased military presences.”
South Africa, according to Pandor, looks forward to the completion of the zero-base document which she believes should be adopted and followed by implementation at the earliest opportunity.
“The document will provide a vision of future activities of the IORA and the role our various regions could play.”
In addition, Pandor announced that the IORA Business Forum’s South African Chapter has developed a concept note on the creation of an IORA Business Forum Digital Portal.
“This portal will connect us, reduce transactional costs, while creating a trading platform and make it easy to trade in our region and beyond.
“Working jointly at creating a region of peace means we can achieve operational optimisation within the region and achieve energy efficient technology acquisition – this would be a conducive environment that could ensure the continued sustainable development of the IORA region,” she said. – SAnews.gov.za
Gabisile
Wed, 10/11/2023 - 09:25
Namibia, SA to explore business opportunities
Namibia and South Africa’s business executives will be exploring opportunities to increase trade and investment flows between the two countries at the Namibia-South African Business Forum and Exhibition on Friday.
The Business Forum and Exhibition, which will be held at the Windhoek Country Club, will focus on strategic priority sectors agreed to by both countries, namely, agriculture and agro-processing, automotive, clothing and textile, and green hydrogen, including exploring opportunities to strengthen cross-border value chains along with the integration of the requisite infrastructure and logistics supply chains.
The Forum will be held under the theme: “Forging a New Era of Mutually Beneficial and Reciprocal Trade and Investment Relations”.
The event will be hosted by Namibia’s Ministry of Industrialisation and Trade on the margins of the 3rd Session of the Namibia-South Africa Bi-National Commission (BNC), which is co-chaired by Namibian President Hage G. Geingob and President of South Africa, Cyril Ramaphosa.
Trade, Industry and Competition Minister Ebrahim Patel and the Namibian Minister of Industrialisation, Lucia Lipumbu, are expected to address the business forum.
The programme of the forum will include presentations on opportunities available to strengthen value chain linkages between the two countries, exhibitions, business-to-business meetings, and breakaway sessions for in-depth discussions on value chains in agriculture, automotive, green hydrogen, and clothing and textile sectors.
The business forum will provide businesspeople from the two countries a platform to exchange concrete ideas on the new opportunities that can be explored with the assistance of both governments to increase trade.
It is anticipated that a joint Namibia–South Africa business forum will be created and institutionalised to become a major platform that further enhances and solidifies trade, industrial and investment linkages between the two countries. – SAnews.gov.za
Edwin
Wed, 10/11/2023 - 10:08
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