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LG ANNOUNCES THIRD-QUARTER 2023 FINANCIAL RESULTS High Performance, Strong Profitability Reflect Progress in Advancing Business Portfolio, Accelerating B2B Business and Procuring New Growth Engines LG Electronics Inc. (LG) today announced third-quarter 2023 consolidated revenue of KRW 20.7 trillion and operating profit of KRW 996.7 billion, both the second highest third-quarter figures in the company’s history. …
Henkel South Africa is partnering with Hammanskraal-based Hudson Rubber to locally fabricate Henkel’s vehicle rubber sealing and acoustic solutions for OEM vehicle panel reinforcing, noise reduced and vibration protection. Henkel’s patented technology of 2D and 3D sealing and acoustic solutions along with damping materials for the body shop provides robust noise, vibration, harshness protection – …
On 11 October 2023, the Premier of the Western Cape, Alan Winde, will provide the opening remarks at Green Energy Africa Summit's (https://GreenEnergyAfricaSummit.com/) high-octane deal pitching platform, the Energy Investment Village.
A selection of ten African clean-tech start-ups will pitch their clean-tech solutions before a panel of judges and a room full of potential international investors on day 2 of the highly anticipated Green Energy Africa Summit. The Premier's presence at the Energy Investment Village signals the growing interest in - and serious consideration of - African clean-tech start-ups as viable clean energy investment assets.
This is the second year that Green Energy Africa Summit (https://apo-opa.info/3PLZHI8) has hosted the Energy Investment Village. The initiative was developed in partnership with Freeport Saldanha's Innovation Campus (https://www.InnovationCampus.co.za/) and advisory firm, the Research Institute for Innovation and Sustainability (RIIS) (https://EnablingInnovation.Africa/) and Anza Capital (https://Anza.holdings/), an early-stage tech start-up investment company. The Energy Investment Village is supported by Africa Scotland Business Network, JSE, Oceanhub-Africa, Savant, Firecracker, CHIETA, and Sasol.
The Green Energy Africa Summit itself provides an important role in enabling international investors to originate projects that will reduce the energy deficit whilst also contributing to developing low-carbon pathways. The Energy Investment Village is the action-based aspect of the Summit, providing a key moment for African clean energy projects and international investors to have direct sight of one another.
According to a report by the International Energy Agency, African energy investment needs to double to over USD 200 billion per year by 2030, for the continent to meet its energy-related development goals. However, emerging and developing economies (except for China) remain stuck at 2015 levels, with no increase since the Paris Agreement was reached.
Premier Winde says, “Our energy demands are currently outstripping supply. When ramping up capacity, clean energy solutions must be a priority. This is particularly important for South Africa if we are to reach our goal of net zero emissions by 2050, to which we've committed in our Low-Emission Development Strategy as part of the UNDP Climate Promise, and the Western Cape Government is committed to supporting. Initiatives such as the Green Energy Africa Summit's Energy Investment Village are excellent vehicles to enable clean energy innovation to flourish. As the Western Cape Government, we are investing heavily in making our province energy resilient. This involves striking a balance between driving economic growth while at the same time developing and harnessing renewable energy solutions.”
As well as finding potential investor-start-up linkages and synergies, the competing start-ups can win valuable prizes provided by the Energy Investment Village sponsors. This includes capacity-enhancing programmes such as:
Additionally, up to R5 million in VC funding (dependent on terms & conditions and company audit) will be made available by Anza Capital, and corporate membership to an international network worth R9k will be given to the top start-up by Africa Scotland Business Network. A cash prize of R100k from Sasol for a selected start-up.
Energy Investment Village finalists for 2023
Find out more about attending Green Energy Africa Summit and take part in the excitement as the Energy Investment Village finalists battle it out for pole position: https://apo-opa.info/3Q6u6Cp
Distributed by APO Group on behalf of Green Energy Africa Summit.
Media Contact:
Amie Sparrow
PR Manager
amie.sparrow@hyve.group
About Green Energy Africa Summit:
The Green Energy Africa Summit is a high-level gathering advocating for policy reforms and the harmonisation of Africa's natural resources, to help pave the way for a just energy transition to ensure Africa remains competitive and attractive to global finance. The Green Energy Africa Summit takes place in the heart of Cape Town at the Cape Town International Convention Centre 2 (CTICC2) from 10-11 October 2023.
Infrastructure development in Africa key to success of smart mobility - Mashatile
Africa should accelerate investment in critical infrastructure and digital solutions for smart mobility to succeed on the continent, says Deputy President Paul Mashatile.
“For example, investment [must be made] towards building charging stations for electric vehicles, expanding broadband connectivity, and developing intelligent transportation systems.
“Governments, private sector organisations and international partners must, therefore, come together to invest in the necessary infrastructure.”
The Deputy President was delivering a keynote address at the Smarter Mobility Africa (SMA) Conference Gala Dinner at the Gallagher Convention Centre in Midrand, Johannesburg.
SMA, he believes, is another opportunity to collaborate to build a better and smarter transport system that will assist in growing the economy, create jobs and improve people’s quality of life.
Smart mobility involves creating connected and integrated transport systems, which offer flexibility and efficiency, cutting across all modes of transport.
The country’s second-in-command said governments should develop clear guidelines and regulations to ensure a safe and reliable transportation system.
These, he said, include regulations on data privacy, cybersecurity, and standards for electric vehicles.
“We must make it our responsibility to establish a harmonised approach to smarter mobility across Africa.”
In South Africa, the Deputy President said smarter mobility has been embraced to align with ongoing worldwide discussions regarding the trajectory of mobility and climate change.
Meanwhile, government is pushing ahead with a National Transport Master Plan (NATMAP) 2050 strategy to establish a safe, affordable, dependable, and efficient means of transporting people and products.
“We understand that we cannot discuss the transport sector's transformation without addressing the exclusion of our youth, particularly girls and women, who continue to face devastating and discouraging unemployment and the risk of poverty and violence in our society.”
Urban planning
In light of the accelerated urbanisation expected over the next few years, Mashatile told attendees that governments and cities must prioritise urban planning policies that are responsive to changes.
“There is no doubt that the need for the transportation of both people and goods will always exist and is, in most aspects, one of the few ways in which economic development occurs.”
According to Deputy President Mashatile Africa must seize the opportunities presented by technology to enhance the efficacy and sustainability of our transport systems.
“This is because major cities, such as Lagos, Nairobi, and Johannesburg, face significant challenges in heavy congestion, overcrowded public transport systems, poor traffic management, and overall inefficient public transportation systems.”
He has since called for more imaginative mobility solutions that can leverage technology to optimise routes, reduce traffic congestion, and use data to provide real-time information to commuters.
The Deputy President believes that this could transportation networks’ overall efficiency and reliability and will go a long way towards the development aspirations and efforts.
“In addition, smart mobility solutions can have a significantly positive impact on the environment.”
By transitioning to electric vehicles and adopting clean energy sources, he said the continent can reduce carbon emissions and contribute towards achieving carbon neutrality by 2050.
New energy vehicles
The State, according to the Deputy President, remains committed to supporting and investing in the expansion and development of new and existing manufacturing plants to support the production of new energy vehicles (NEVs) components and grow employment in the automotive sector.
Investing in the NEV, he said, also contributes to the decarbonisation of road transport.
African trade
Shifting his focus to the African Continental Free Trade Area (AfCFTA), Deputy President Mashatile said the continent should address the inconsistent and inefficient goods and logistics services that have long impeded intra-African trade and commerce.
“In addition, through this agreement, we will address the high customs delay times, lack of paved roadways on which goods can be conveyed, and more significant loss of goods due to limited cold chains compared to other global regions.” – SAnews.gov.za
Gabisile
Tue, 10/03/2023 - 10:07
Africa's boldest and most ambitious cleantech start-ups will take part in the Energy Investment Village (https://apo-opa.info/468SsAw), an exciting deal-pitching event at the Green Energy Africa Summit (https://GreenEnergyAfricaSummit.com), to be held in the heart of South Africa's Cape Town on 10-11 October at the CTICC2.
Held under the theme, “Unlocking Africa's Sustainable Energy Potential,” the Green Energy Africa Summit (GEAS) will provide unrivalled opportunities throughout its two-day programme for the continent's leaders in energy, finance, and social development, to meet with international investors, to find sustainable solutions to Africa's energy needs and a just transition to a green economy.
This highly anticipated event advocates for the harmonisation of Africa's natural resources, as well as policy reforms, to help usher in an energy transition that ensures the continent remains competitive and attractive to global finance. With over 1000 delegates from 67 countries, GEAS invites both public and private stakeholders across the energy value chain to collaborate, offer solutions, and build partnerships to help unlock Africa's true socioeconomic potential.
GEAS is thrilled to welcome its strategic industry partners, including The Banking Association of South Africa (https://www.Banking.org.za/) and The African Forum for Utility Regulators (https://AFURnet.org/). This year's agenda features a strong mix of discussions within dedicated content streams, from the Energy Strategy Forum on day one, to the Green Energy and Green Finance Forums on day two. Attendees can look forward to country and regional spotlights on South Africa and West Africa, as well as sessions led by finance and energy heavyweights. Find the full GEAS 2023 agenda here: https://apo-opa.info/3rfJNxm
The Energy Investment Village (EIV) is the GEAS's Lion's Den-style pitching event for cleantech companies, which will be held on 11 October. The finalists will be given an extraordinary opportunity to gain exposure, network with potential clients, and receive vital market validation. Most importantly, they will be given the chance to pitch for funding (https://apo-opa.info/468SsAw) from international investors.
“Africa's traditional, fossil-fuel-based energy cannot keep pace with its swift development. While the continent's abundance of natural resources can enable clean energy innovations, constraints like access to finance impedes the opportunities for local clean-tech innovators. Events such as the EIV open up direct pathways to decision-makers and funders, and are a critical enabler of the clean-tech ecosystem,” says RIIS CEO Davis Cook.
In partnership with Saldanha Bay Innovation Campus (https://www.InnovationCampus.co.za/), RIIS (https://EnablingInnovation.Africa/), and Anza Capital (https://Anza.Holdings/), and supported by Africa Scotland, JSE, Oceanhub-Africa, Savant, Firecracker, CHIETA, and SASOL, the EIV is delighted to introduce the outstanding finalists that have been selected to present their projects, which aim to revolutionise the energy landscape and promote sustainable development in Africa:
Don't miss out on the chance to engage with these visionary entrepreneurs and experts, as they demonstrate how their projects will address the energy challenges across Africa. From scalable solutions for rural communities, to innovative grid technologies, these finalists promise to inspire, educate, and shape a greener future for the continent.
Organised by Hyve Group Plc., the Green Energy Africa Summit is where the world connects with the African Energy sector. Register to attend here https://GreenEnergyAfricaSummit.com/. Attend the Green Energy Africa Summit to be part of the solution and connect with industry leaders, charting the way towards a sustainable clean energy transition for Africa.
Distributed by APO Group on behalf of Green Energy Africa Summit.
Media Contact:
Amie Sparrow
PR Manager
amie.sparrow@hyve.group
About Green Energy Africa Summit:
The Green Energy Africa Summit is a high-level gathering advocating for policy reforms and the harmonisation of Africa's natural resources, to help pave the way for a just energy transition to ensure Africa remains competitive and attractive to global finance. Green Energy Africa Summit takes place in the heart of Cape Town at the Cape Town International Convention Centre 2 (CTICC2) from 10-11 October 2023.
SA, Vietnam to increase, diversify trade
It is important to increase and diversify South African exports to Vietnam in order to cover more value added items, says Trade, Industry and Competition Deputy Minister Nomalungelo Gina.
The Deputy Minister was addressing a roundtable discussion on Vietnam-South Africa Economic Cooperation on the occasion of 30 years of diplomatic relations between the two countries in Pretoria on Thursday.
The roundtable interrogated economic areas of mutual interest for a shared future and was attended by Vietnamese officials and businesses in various fields such as energy, coal, pharmaceuticals, agriculture products, seafood and logistics, among others.
The session provided an opportunity for South African and Vietnamese business to match up investment and import-export opportunities.
Gina said trade between the two countries was slowly growing and mostly in favour of Vietnam.
Bilateral trade between South Africa and Vietnam was valued at R23.8 billion in 2022, up from R16 billion in 2018.
The trade balance amounted to R13.3 billion in favour of Vietnam.
Against this background, Gina said, it was important to increase and diversify exports to cover more value added items.
South Africa’s major exports product include maize that accounted for 53% of total SA exports to Vietnam.
South Africa has identified products with export potential such as citrus, apples, steel and aluminium, leathers, polypropylene, meat products, among other products.
“South Africa's basket of imports from Vietnam is dominated by manufactured products such as telephone sets (36.6%), footwear (10.9%), printing machinery (3.9%), SA imports from Vietnam are a bit diversified as compared to SA exports to Vietnam,” said the Deputy Minister.
South African exports to Vietnam are mostly primary products like oil and steel, aluminium, sea food, fresh fruits and nuts, in contrary, there is a scope for South Africa to increase exports of manufactured goods such as capital equipment, agro processing, automotive components.
“There is a need to diversify SA’s export basket and shape the massive trade deficit. Both countries need to make concerted efforts to increase South Africa’s value added products to Vietnam,” said Gina.
The Deputy Minister encouraged Vietnamese business people to explore investment opportunities in South Africa.
“With regards to the investment and cooperation on electric vehicle and battery manufacturing, the levels of investment remain low but there is room for improvement. The development of our automotive industry, in particular electric vehicles and their associated components such as batteries is key to our economy,” Gina said.
She mentioned furniture manufacturing as one area of interest and said South Africa would like to cooperate with Vietnam in this sector and receive investment.
She said there was so much that both countries can learn from each other.
Taking into account South Africa's abundant natural resources and Vietnam's position as the world's second-largest furniture exporter, Gina said there was a need to engage more and develop mutually beneficial areas of cooperation.
The roundtable was preceded by a bilateral meeting between Gina and her Vietnamese counterpart, Phan Thi Thang.
The purpose of the meeting was to discuss bilateral trade and investment issues including a follow-up on the outcomes of the 5th SA-Vietnam Joint Trade Committee.
Some of the key issues the two discussed include increasing and diversification of exports to Vietnam, expansion of investment by Vietnamese companies in South Africa, cooperation on the Automotive sector (electric vehicles), cooperation on furniture manufacturing and market access for agricultural products. – SAnews.gov.za
Edwin
Fri, 09/15/2023 - 09:53
Fires on vessels remain one of the biggest safety issues for the shipping industry as evidenced by a significant increase in recent incidents including the Fremantle Highway, a car-carrying vessel which caught fire this week off the Dutch coast with thousands of vehicles on-board en-route from Germany to Egypt. In this Q&A, Captain Rahul Khanna, …