Energy

12 December 2024

South Africa-Angola elevate bilateral relations

Location: News

South Africa-Angola elevate bilateral relations

President Cyril Ramaphosa has emphasised that increasing trade and investment between South Africa and Angola remains a top priority.

“Increasing trade and investment between the two countries remains our foremost objective. South Africa must become the destination of choice for Angolan goods, products and services, and vice versa,” he said.

The President was delivering opening remarks during official talks with Angolan President João Manuel Gonçalves Lourenço at the Union Buildings in Pretoria, on Thursday.

President Lourenço of the Republic of Angola is in South Africa on a State Visit at the invitation of President Ramaphosa.
The Heads of State are using the occasion to solidify relations between the two countries who share deep historical ties.

WATCH | Official Talks between HE President Cyril Ramaphosa and HE President João Lourenço

President Ramaphosa highlighted the decision to elevate the structured bilateral mechanism between South Africa and Angola from a Joint Commission of Cooperation to a Bi-National Commission (BNC), reflecting a deepening commitment to collaboration.

The inaugural BNC session will take place in Angola next year, coinciding with the 50th anniversary of Angolan independence.
“Co-chairing this first session with you will be an honour, especially given that it will be during the 50th anniversary celebrations of Angolan independence.”

The President underscored the strong economic ties between the two nations, noting the presence of 20 South African companies in Angola and their diversification into sectors beyond oil.

South African foreign direct investment (FDI) into Angola has been in a range of sectors such as financial services, IT, food and beverage, transportation, warehousing and tourism.

South Africa’s Industrial Development Corporation (IDC) also has investment projects in Angola, namely in the Cabinda Oil Refinery and the Cabinda phosphate project.

“We want to see more Angolan companies in South Africa. Opportunities exist in infrastructure development, agriculture, construction, mining, financial services, telecoms and manufacturing, to name but a few,” the President explained.

Collaboration in Economic Growth

The leaders discussed leveraging the African Continental Free Trade Agreement (AfCFTA) to drive industrialisation and trade.
President Ramaphosa also emphasised the potential for joint strategies in mineral beneficiation, particularly as global demand grows for critical minerals essential to the energy transition.

He highlighted Angola’s Lobito Trans-Africa Corridor as a promising development for regional integration and trade.
“We see the African Continental Trade Agreement as a catalyst for inclusive economic growth, and we must take advantage of the system of preferential terms provided to signatories.

“As both Angola and South Africa strive to accelerate the pace of industrialisation, we need to build mutually complementary capabilities in manufacturing and value-addition of products,” he said.

Commitment to Peace and Multilateralism

The leaders’ discussions extended to shared efforts in promoting peace and security across the continent.

Angola’s contributions to peacebuilding, particularly its role in the Southern African Development Community (SADC) and initiatives like the Luanda Process were praised.

“We must continue to deepen our collaboration towards resolving the conflict in the Eastern DRC, the civil war in Sudan and the post-electoral crisis in Mozambique.

“Silencing the Guns across Africa is a necessary precondition for stability, economic growth and development. As African countries, we must be at the forefront of promoting the peaceful resolution of conflict, particularly at a time when the future of multilateralism is at stake,” he said.

On the global stage, President Ramaphosa advocated for reforming international institutions, including the UN Security Council, to better represent the Global South. He reaffirmed South Africa’s commitment to multilateralism, calling for respect for the United Nations Charter and international law.

Africa at the forefront

With South Africa having assumed the G20 Presidency, President Ramaphosa pledged to prioritise Africa’s developmental goals, particularly those outlined in Agenda 2063.

According to the African Union, Agenda 2063 is Africa's development blueprint to achieve inclusive and sustainable socio-economic development over a 50-year period.

The President highlighted that South Africa will host the first G20 Summit on African soil in 2025, signalling a historic moment for the continent.

“Working with the African Union and fellow African countries will ensure that the issues of strategic importance to Africa and the Global South are highlighted.”

The President further extended a warm welcome to President Lourenço and his delegation saying his visit marks a significant step in strengthening bilateral ties between the two nations.

“Your presence here testifies to the strong ties of solidarity and friendship between our two countries.” – SAnews.gov.za

DikelediM
Thu, 12/12/2024 - 13:52

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12 December 2024

Eskom’s Grace Period for Zero Buyers Ends

Location: Business

Thursday, 12 December 2024: Eskom is reminding zero buyers that the grace period for regularising their accounts ends on Friday, 13 December 2024. Eskom has been actively conducting campaigns across various platforms to inform customers about this deadline. Customers who visit Eskom centres by this date and settle any outstanding tamper fines will have their...

12 December 2024

Transformer Trip at Midas Substation Affects Electricity Supply to Carletonville, Fochville and Potchefstroom

Location: Business

Thursday, 12 December 2024: On 11 December 2024 at about 18:30 a 500 MVA transformer at the Midas Substation tripped, disrupting electricity supply to approximately 15 mines in the Carletonville, Fochville, and Potchefstroom areas, as well as to residential customers. Eskom’s technical teams acted swiftly and have managed to restore essential load to the mines,...

12 December 2024

Cape Town Welcomes the Exceptional as Radisson Collection Makes Its South African Debut

Location: Business

Radisson Hotel Group (www.RadissonHotels.com) proudly announces the opening of Radisson Collection Hotel, Waterfront Cape Town (https://apo-opa.co/3ZPodhO), marking the South African debut of its luxury lifestyle brand, Radisson Collection. Poised on Cape Town's iconic Atlantic coastline, the meticulously refurbished hotel embodies a harmonious blend of modern sophistication, local heritage, and the tranquil energy of its breathtaking surroundings.

The hotel's design takes inspiration from the dramatic meeting of land and sea, capturing the powerful yet calming essence of the Atlantic Ocean and the rugged beauty of Table Mountain. Natural materials like timber, brass, and stone echo South Africa's raw yet refined landscapes. A color palette of oceanic blues, sandy neutrals, and earthy tones complements intricate patterns, that nod to the region's Kaapse Fynbos, vibrant fauna, and renowned Winelands.

African craftsmanship is woven seamlessly into the interiors, with locally sourced materials and bespoke art installations reflecting Cape Town's rich cultural tapestry. A dedicated bespoke art gallery features curated pieces showcasing local fashion and architecture, adding a contemporary yet authentic touch to the hotel's elegant public spaces.

"We are delighted to introduce the Radisson Collection brand to South Africa with this remarkable property in Cape Town, a city renowned for its natural beauty, history, and cultural vibrancy. By transforming the Radisson Blu Hotel Waterfront, Cape Town through an extensive refurbishment, we've elevated this beloved landmark into a true destination that captures the very essence of Cape Town. Guests can now immerse themselves in the city's charm from the perfect vantage point, enjoying unmatched luxury and comfort," said Tim Cordon, Chief Operating Officer, Middle East, Africa, and South East Asia Pacific at Radisson Hotel Group.

The hotel offers 175 rooms and suites, each designed to provide both comfort and sophistication. Floor-to-ceiling windows and private balconies invite guests to revel in sweeping views of the Atlantic Ocean or the marina. Thoughtful design ensures an intuitive flow of spaces, blending plush furnishings with bespoke amenities for an elevated guest experience. The gentle soundscape of ocean waves, layered natural lighting, and contemporary luxury touchpoints—like metallic accents juxtaposed with organic weaves—underscore the hotel's mission to balance urban vibrancy with coastal tranquility.

Dining at the Radisson Collection Hotel, Waterfront Cape Town is a celebration of local and international flavors. The renowned Tobago's Restaurant, Bar, and Terrace offers an extensive menu crafted from the freshest ingredients, complemented by unmatched ocean views. A refurbishment of the iconic Tobago Restaurant and Terrace is slated for July 2025, promising an even more elevated dining experience. The newly introduced Waveside Café, located in the west atrium, provides a luxurious deli and café experience, featuring light meals and bespoke Radisson Collection items for guests to enjoy or take home.

The hotel is also home to a variety of flexible event spaces, making it an ideal venue for both business functions and celebrations. With three event rooms that can be combined to accommodate up to 350 guests and an intimate boardroom for smaller gatherings, Radisson Collection Hotel, Waterfront Cape Town provides a versatile space complemented by marina views and dedicated boardwalk access.

“Our team is thrilled to welcome both our cherished loyal guests and new visitors to this extraordinary Cape Town destination. With every detail thoughtfully curated, from our luxurious rooms to our world-class dining and rejuvenating wellness experience, we are committed to offering an elevated experience that surpasses expectations,” said Clinton Thom, General Manager of Radisson Collection Hotel, Waterfront Cape Town.

For relaxation and rejuvenation, the hotel boasts an infinity pool overlooking the ocean, a fully equipped 24-hour fitness center, and the Amani Spa and Wellness Center, offering tranquil treatments in a serene setting.

The opening of Radisson Collection Hotel, Waterfront Cape Town underscores Radisson Hotel Group's dedication to delivering unparalleled luxury and immersive experiences in South Africa. By blending contemporary elegance with authentic local culture, the hotel sets a new standard for luxury hospitality on the continent.

For more information or to book, click here: https://apo-opa.co/3ZPodhO.

Distributed by APO Group on behalf of Radisson Hotel Group.

Media Contact:
Saadiyah Hendricks,
Area Director,
PR & Social Media, Middle East, Africa, Mediterranean and South East Asia Pacific,
Radisson Hotel Group
saadiyah.hendricks@radissonhotels.com

Nataliya Tkachenko,
Senior Global Consumer PR Manager,
Radisson Hotel Group
nataliya.tkachenko@radissonhotels.com

Connect with Radisson Hotels on:
LinkedIn: http://apo-opa.co/3BeKhZP
Instagram: http://apo-opa.co/3Dfrn5G
X: http://apo-opa.co/3ZOt9Dl
Facebook: http://apo-opa.co/49DeePJ
YouTube: http://apo-opa.co/49yc83z
TikTok: http://apo-opa.co/3ZN05MF

Connect with Radisson Collection on:
LinkedIn: http://apo-opa.co/49ACguX
Instagram: http://apo-opa.co/3Da3a0q
X: http://apo-opa.co/3ZOt9Dl
Facebook: http://apo-opa.co/4gpZZAF
YouTube: http://apo-opa.co/49yc83z
TikTok: http://apo-opa.co/3ZN05MF

Radisson Hotel Group:
Radisson Hotel Group is an international hotel group, operating in EMEA and APAC with over 1,430 hotels in operation and under development in +95 countries. The international hotel group is rapidly expanding with a plan to significantly grow the portfolio. The Group's overarching brand promise is Every Moment Matters with a signature Yes I Can! service ethos.

The Radisson family of brands portfolio includes Radisson Collection, art'otel, Radisson Blu, Radisson, Radisson RED, Radisson Individuals, Park Plaza, Park Inn by Radisson, Country Inn & Suites by Radisson, and Prize by Radisson brought together under one commercial umbrella brand Radisson Hotels.

Radisson Rewards (https://apo-opa.co/3ZPUmG3) is Radisson Hotel Group's loyalty program, which delivers an elevated experience that makes Every Moment Matter, counting more than 17 million members. As the most streamlined program in the sector, members enjoy exceptional advantages and can access their benefits from day one across a wide range of hotels in Europe, Middle East, Africa, and Asia Pacific.

Radisson Meetings (https://apo-opa.co/4g8eVTO) provides tailored solutions for any event or meeting, including hybrid solutions placing guests and their needs at the heart of its offer. Radisson Meetings is built around three strong service commitments: Personal, Professional and Memorable, while delivering on the brilliant basics and being uniquely Carbon Compensated.

At Radisson Hotel Group we care for people, communities and planet (https://apo-opa.co/49yc8AB) and aim to be Net Zero by 2050 based on the approved near-term Science Based Targets. With unique solutions such as carbon compensated Radisson Meetings, we make sustainable hotel stays easy. To facilitate sustainable travel choices, all our hotels are becoming verified on Hotel Sustainability Basics.

The health and safety of guests and team members remain a top priority for Radisson Hotel Group. All properties across the Group's portfolio are subject to health and safety requirements, ensuring we always care for our guests and team members.

For more information, visit our corporate website (www.RadissonHotels.com/corporate).

About Radisson Collection:
Radisson Collection is a luxury lifestyle collection of iconic properties located in unique locations. While the character of each Radisson Collection hotel feels authentic to its location, all of them offer the ultimate template for contemporary living – united by bespoke design and exceptional experiences across dining, fitness, wellness and sustainability. Designed for guests and locals alike, each Radisson Collection hotel is defined by the guests who visit them. Guests and professional business partners can enhance their experience with Radisson Collection by participating in Radisson Rewards, an international loyalty program offering exceptional benefits and rewards.

Radisson Collection is part of the Radisson family of brands, which also includes art'otel, Radisson Blu, Radisson, Radisson RED, Radisson Individuals, Park Plaza, Park Inn by Radisson, Country Inn & Suites by Radisson, and Prize by Radisson brought together under one commercial umbrella brand Radisson Hotels.

For reservations and more information, visit our website (www.RadissonHotels.com/Collection).

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12 December 2024

G20 urged to deliver on climate justice

Location: News

G20 urged to deliver on climate justice

With developing nations being considered the most vulnerable to climate change, United Nations Secretary-General António Guterres says the Group of Twenty (G20) countries must lead in delivering climate justice.

Addressing the closing session for the Joint Sherpa-Finance and Central Banks Deputies' Meeting, Guterres stressed that many vulnerable countries are being forced to respond to a crisis they did not create.

“Meanwhile, they lack the necessary support to seize the benefits of clean energy to spur prosperity and eliminate poverty. We need developed countries supporting developing countries with adequate, affordable and accessible finance and technology, and through meaningful contribution to the loss and damage fund by doubling adaptation finance next year as promised.

“[Climate justice can be delivered] by forging new partnerships like the Just Energy Transition Partnership that South Africa has pioneered to pave the way to a renewable future,” the Secretary-General said on Wednesday in Johannesburg.

On 1 December 2024, South Africa assumed the Presidency of the G20, which comprises many of the world's largest developing and developed economies.

As part of the work for the G20 Presidency, South Africa has commenced with the first series of the more than 130 meetings that will precede the G20 Summit in 2025.

“G20 countries must lead the way in line with the principles of common but differentiated responsibilities but recognise that every G20 country has to do more in the reduction of emissions. Next year, every government must deliver new economic plans in line with limiting the global temperature rise to 1.5 degrees.

“These new plans must cover all emissions in the whole economy, accelerate a just fossil fuel phase out and contribute to the energy transition goals agreed to at COP28. We must also ensure that Africa’s critical minerals that can power the renewable future worldwide benefit Africans first and most. We cannot repeat the mistakes of the past,” he said.

Guterres further called on the G20 to lead on technological justice.

“From digital technology to artificial intelligence, the developing world must access and benefit from the technological revolution.

“We need the G20 to support developing countries as they invest in the digital driven systems and solutions that their people need to boost prosperity to create jobs and drive sustainable development,” he said.

South Africa's G20 Presidency is the fourth consecutive emerging market Presidency, and it is also the first African Presidency, followed by the admission of the African Union (AU) as the second permanent African member.

The G20 was established to tackle pressing global economic and financial issues. Together, G20 members account for around 85% of global GDP and 75% of international trade.

The G20 comprises 19 countries including Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Türkiye, United Kingdom, and United States and two regional bodies, namely the European Union and the African Union.

The grouping therefore plays a critical role in influencing global policy making and fostering global economic stability. - SAnews.gov.za

nosihle
Wed, 12/11/2024 - 15:14

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12 December 2024

Mashatile calls on Chinese-funded businesses to increase investments to create jobs in SA

Location: News

Mashatile calls on Chinese-funded businesses to increase investments to create jobs in SA

Deputy President Paul Mashatile has encouraged Chinese-funded enterprises in South Africa to increase their investments in crucial sectors of the economy, particularly the automotive industry and infrastructure development.

“Your participation and investment in our country is critical for creating jobs and promoting economic growth and development,” the Deputy President said on Wednesday.

The country’s second-in-command was speaking at the launch of the corporate social responsibility report of Chinese-funded enterprises in South Africa.

At the South Africa-China Economic Trade and Association (SACETA) event, Mashatile cknowledged the organisation’s substantial contributions to the country’s economic and social development.

SACETA was established in April 2011 and serves as a vital platform for fostering economic and trade collaboration between China and South Africa.

Mashatile told attendees that the 200 Chinese-funded enterprises locally serve as role models for businesses, demonstrating that profitability should be balanced with social good.

As the global landscape continues to evolve rapidly, he believes it is essential for nations to cultivate strong partnerships to thrive and navigate the challenges of the modern world.

“We should leverage our expertise to navigate towards a more sustainable path, guided by the principles of joint pursuit and a shared future. Our countries have complementary strengths and resources, making us ideal economic partners.”

The Deputy President described China as one of the world’s greatest economies, providing a massive market for South African goods and services.

“In return, South Africa provides rich resources, such as minerals, agricultural products, and skilled labour, to support China’s rising economy.”

Mashatile is of the view that improving trade connections between South Africa and China benefits both countries directly and has a positive ripple effect throughout the region.

“Increased trade creates jobs, stimulates economic growth, and improves living standards for the people of both countries.”

However, the Deputy President acknowledged that the trade structure has been imbalanced, noting that last year’s value of China’s imports far exceeded its exports.

According to Mashatile, total bilateral trade increased from R614 billion in 2022 to R692 billion in 2023, while China’s R146 billion deficits remained the highest among any of the country’s trading partners.

He announced that government intends to work with China in addressing the trade deficit and structure of bilateral trade by broadening its export basket, especially to export more value-added products.

“South Africa mostly exports minerals and agricultural products to China while importing mostly manufactured goods from China. At a time when African economies are becoming more integrated, China’s technological prowess may help Africa industrialise and export more than just raw materials.

“Instead of exporting raw agricultural items, South Africa may export processed foods that are more valuable.”

Mashatile stressed that China could lend a helping hand by streamlining import procedures and lowering regulatory hurdles, which could make China a larger market for local products, benefiting both South African producers and Chinese customers.

He said Chinese-funded enterprises must seize opportunities in emerging fields such as artificial intelligence, the digital economy and green energy.

Last year, Chinese businesses pledged to invest up to R15 billion at South Africa’s fifth Investment Conference.

“In that same year, we witnessed the signing of significant purchase agreements totalling US$2.2 billion with companies in both nations. Therefore, our positive trade relations continue to be crucial in combating unemployment, inequality, and poverty,” Mashatile said.

He said South Africa and China share a strong and longstanding relationship, and that the bond between the nations has deepened, revealing the potential for collaboration to promote inclusive and equitable growth.

The Deputy President also touched on President Cyril Ramaphosa’s recent State Visit to China and told attendees that both Heads of State committed to providing a stable, fair, and enabling business environment for companies.

He welcomed the report that highlights the contributions of Chinese-funded enterprises to environmental conservation, community development, education, and healthcare.

“As we move forward, let us reaffirm our commitment to expanding South African-Chinese trade and investment cooperation. Together, we can build a more successful and sustainable future for our countries.” – SAnews.gov.za

Gabisile
Wed, 12/11/2024 - 13:54

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11 December 2024

Two sentenced for crimes at Duvha Power Station

Location: News

Two sentenced for crimes at Duvha Power Station

Two people have been sentenced to five and 15 years imprisonment, respectively, for crimes targeting critical infrastructure at Duvha Power Station in Mpumalanga.

The two were sentenced in relation to separate incidents at the power station.

In a statement, Eskom said the two sentences “underscore the severe consequences of actions that threaten the nation’s energy supply”.

“On 8 October 2024, the Middelburg Magistrate’s Court sentenced Tseliso Ramosebetsi to 15 years in prison. Ramosebetsi was caught cutting and removing copper cables from the coal conveyor belt, a vital component of Duvha Power Station operations. Ramosebetsi and his accomplice, Mpho Johannes Machekela, were apprehended on 26 March 2024 after being detected through drone surveillance.

“While Ramosebetsi has been brought to justice, Machekela absconded from trial, and a warrant for his arrest has been issued.

“In a separate case, the Witbank Magistrate’s Court sentenced Frederick Jacobs Van Wyk to five years in prison on 23 October 2024 for the theft of aluminium cables near the Horticulture site outside Duvha Power Station,” the statement read.

Eskom said the two sentences should serve as a deterrent to other would-be criminals.

“Eskom commends the South African Police Service for their dedication to securing these convictions, and thanks its security teams for their vigilance and collaboration in protecting the nation’s assets.

“Tampering with or damaging critical infrastructure is a criminal offence under the Criminal Matters Amendment Act, with penalties of up to 30 years’ imprisonment. Such activities disrupt essential services, pose serious safety risks, and undermine the sustainability of the electricity network, impacting communities and the economy.

“Eskom is committed to safeguarding the security and integrity of its critical infrastructure. The ongoing collaboration between Eskom’s internal security investigations team and law enforcement agencies, coordinated by the National Energy Crisis Committee’s Safety and Security Priority Committee, is yielding positive results in our efforts to combat crime and corruption,” Eskom said. – SAnews.gov.za

NeoB
Wed, 12/11/2024 - 10:16

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11 December 2024

First G20 Sherpa meetings ‘robust’

Location: News

First G20 Sherpa meetings 'robust'

South Africa’s Sherpa for the G20 and Director-General of the Department of International Relations and Cooperation, Zane Dangor, has described the first Sherpa meeting of South Africa’s Presidency of the G20 as “very successful” and “robust”.

The first Sherpa meeting was held at Investec in Sandton on Monday and Tuesday, this week.

“We’ve just completed the first Sherpa meetings, so it’s day two of plenty. It was a very successful Sherpa meeting. The discussions were robust but very inclusive.

Speaking at a media briefing on Tuesday, following the conclusion of the two-day meeting, Dangor was upbeat that the discussions were fruitful.

“We started yesterday [Monday] with [International Relations and Cooperation Minister Ronald] Lamola opening the Sherpa meeting and we outlined… that the theme of our [G20] Presidency would be ‘Solidarity, Equality and Sustainability’. Minister Lamola just outlined, for example, how we are going to amplify the voices of the Global South as part of our Presidency,” he said.

According to Dangor, during the first Sherpa Track meeting, discussions centred on various subjects, including “significant discussions” for a review of the "G20 at 20".

“[There was] support for the fact that this is timely, that we need to assess what the purpose of the G20 is, what is the mandate of the G20 and what are the agreements that have been made on the various tracks over the last 20 years, what has been achieved and what has enabled that achievement.

“We must also look at what has not been achieved and what are the disabling factors. A methodology for that review will be developed so that we ask the right questions, get the right answers, and do the proper analysis, so that by the time we get to the end of our Presidency [of the G20] in November, we can give them clear recommendations on how to improve the G20,” he said.

The South African Sherpa emphasised that the review “does not formalise the G20”.

“The G20 members seek to remain informal so that levels of flexibility are maintained and also to make sure that it doesn’t seek to compete with formal multilateral institutions like the [United Nations] and the [African Union] and others where you have formal secretariats,” he said.

Other subject matters given much attention include mobilising finance for a Just Energy Transition, as well as food security.

“This has just been reinforced by the Sherpas that this is a very important issue that we must focus on in the working groups, and that the Sherpas must also delve deeper into the issues of climate change and financing the green transition.

“[There were] recommendations… on how we can ensure that we focus on food security at the regional and global level, thereby complimenting what [previous G20 President] Brazil has already started,” Dangor said. – SAnews.gov.za

NeoB
Tue, 12/10/2024 - 18:50

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10 December 2024

Two Sentenced for Crimes Targeting Critical Infrastructure at Duvha Power Station

Location: Business

Tuesday, 10 December 2024: Eskom is pleased to announce the sentencing of two individuals involved in separate criminal activities targeting critical infrastructure at Duvha Power Station in Mpumalanga. These sentences, handed down in October 2024, underscore the severe consequences of actions that threaten the nation’s energy supply. On 8 October 2024, the Middelburg Magistrate’s Court...

10 December 2024

President Ramaphosa stresses Job Creation, Inclusive Growth in Mpumalanga

Location: News

President Ramaphosa stresses Job Creation, Inclusive Growth in Mpumalanga

President Cyril Ramaphosa has underscored the importance of inclusive economic growth and job creation as the central focus of government and its social partners.

The President was speaking at the meeting between the National Executive and the Mpumalanga Provincial Executive Council at the Nkangala District Council Chambers, Mpumalanga.

President Ramaphosa reiterated that cooperative governance is a constitutional mandate, urging all spheres of government to collaborate more effectively to address common challenges.

Highlighting Mpumalanga’s potential, President Ramaphosa noted the province's dual role as South Africa’s energy powerhouse, fuelled by its abundant coal reserves, and a hub for agriculture and tourism.

However, he also acknowledged the significant challenges the province faces, including an unemployment rate above the national average and widespread poverty.

“For Mpumalanga, inclusive economic growth and job creation must therefore be at the forefront of the efforts of government and all social partners. Like other provinces, Mpumalanga needs to grow faster, and the benefits of growth need to reach more of its people.

“Fortunately, this province has many advantages that it can use to drive growth and development. Mpumalanga is literally South Africa’s powerhouse,” the President said.

This is the National Executive’s third engagement with a provincial executive council. The Executive has previously met with the provincial leadership of Limpopo and KwaZulu-Natal.

Over the next year, the National Executive is planning to meet with the leadership of all other provinces.

The President pointed to the province's critical role in the country’s just transition to a low-carbon economy, stressing the need to balance environmental objectives with protecting livelihoods.

“Mpumalanga is literally South Africa’s powerhouse. Most of the country’s electricity comes from here, fuelled by the abundant coal reserves in this province.

“Mpumalanga will therefore continue to be vital to the social and economic development of the country for many years to come. For this reason, the province will also be at the centre of the just transition to a low-carbon economy,” the President said.

He called for investment in new technologies, industries, and skills to drive growth and create opportunities for communities.

President Ramaphosa lauded Mpumalanga's commitment to infrastructure development, which he described as essential for economic growth and improving the quality of life for residents.

“This is a fertile province, which has the ability to sustain a wide variety of agricultural activities. Mpumalanga is a province of natural splendour. It has long been a destination for visitors from across South Africa and across the world. We are encouraged by the determination of the province to invest in infrastructure,” the President said.

He encouraged provincial leaders to strengthen partnerships with national entities such as Infrastructure South Africa and the Infrastructure Fund.

The meeting, attended by Minister of Cooperative Governance and Traditional Affairs Velenkosini Hlabisa, Mpumalanga Premier Mandla Ndlovu, and several Ministers and Deputy Ministers, aimed to align national and provincial priorities.

As engagements with other provinces continue, President Ramaphosa emphasised the importance of leveraging regional strengths to complement national development goals.

“Different provinces have different resources and capabilities. As a country, we must ensure that these are developed and work to complement each other,” the President said.

The gathering is part of the President’s ongoing efforts to enhance cooperation between national and provincial governments to address pressing socio-economic challenges and promote sustainable development. – SAnews.gov.za

DikelediM
Tue, 12/10/2024 - 14:40

96 views

10 December 2024

VC4A Connects Funders of Africa’s Startup Success at Africa Early Stage Investor Summit (AESIS2024)

Location: News

Over 300 Africa-focused delegates converged at the 11th edition of the Africa Early Stage Investor Summit, and filled up the room for the AESIS Deal Morning ready to engage with Africa's most promising founders. Next to another 15 highly promising startups, VC4A (www.VC4A.com) hosted eight female entrepreneurs from IFC's She Wins Africa program, who took the AESIS2024 stage to pitch their solutions after completing an intensive technical residency in Cape Town. The energy was palpable, reflecting the increasing investor appetite for ventures that not only deliver commercial success but also drive meaningful impact across the continent.

In the opening remarks of AESIS - which took place from the 28th to the 29th of November with the theme “Pioneering Pathways: Innovating Investment Mobilization in Africa” - VC4A CEO Vincent Hoogduijn set the tone for the two-day event. “Why does VC4A organize AESIS every year? The answer is simple - we are here to unite the African early stage investment ecosystem".

The conversations, panels, pitches and ‘investor experiences' resonated deeply with the theme, as a strong call for collaboration not only within the investor community but also from hubs and accelerators, angel groups and venture studios as well as entrepreneurs themselves.

Summing up what was a momentous event, here are the key highlights:

Day 1:

Deep Dive Sessions: The discussions focused on the shifting dynamics of the African ecosystem, particularly around capital market policies, collaborations, and pipeline building. A key takeaway was the need for cross-border collaborations and the role of tech-driven platforms in streamlining the investment process. As Fridah Ntarangwi of Zidi Circle highlighted in the Collaborations and Partnerships panel, "Having functional tech-driven platforms to simplify the investment process, powered by AI and blockchain technology, is key for the ecosystem."
Investor Experiences: An exclusive series of partner-hosted events to close Day 1 of AESIS2024, provided unique and casual style networking opportunities, to promote connections between investors, entrepreneurs, and leaders of industry. Partners include IFC, GIZ-SAIS, FMO Ventures, Lofty Inc Capital, TLCom Capital, Crypto Asset Investment Fund (CAIF), Digital Africa, ENZA Capital, Disraptors and Breega. The relaxed atmosphere facilitated meaningful conversations, affording the opportunity for long-term partnerships and friendships to be built.

Day 2:

Deal Morning: 23 promising portfolio companies (https://apo-opa.co/3ZLzcIY) from 6 organizations - DEG Impulse: develoPPP Ventures, Digital Africa: Fuzé, Ennovate Ventures: TheNextFund, IFC: She Wins Africa, Open Startup and GIZ: SAIS program, pitched their innovative solutions to an audience of investors. The high caliber of startups and the strategic insights shared by the judges created a launchpad moment for the future of the African startup ecosystem, showcasing innovative and impactful solutions to real problems
The Partner Series: Keeping momentum of the power-packed first day, the partner series held segments on Capital Mobilization, Gender Lens and Impact. Taking an apt quote from closing remarks by Thomas van Halen, Director of Investor Services at VC4A “The evolution of the African startup ecosystem reflects the growing maturity of the market, but also highlights the need for innovative and flexible exit mechanisms to meet the diverse needs of founders, investors, and funds.”

Inspiring quotes from AESIS2024

“Entrepreneurs are the architects of Africa's success” said Phuti Mahanyele-Dabengwa, the South Africa CEO, Naspers, and the AESIS2024 Guest of Honour who delivered the moving keynote on Day 1.

Anne Kabugi, Regional Gender Lead at IFC, opening the Venture Showcase - She Wins Africa pitches, tasked the delegates with a question, a food for thought: "What if I told you that Africa's food crisis is going to be solved by women?”

Nicola Tyler of The Thinking Company delivered a welcome on Day 2's Deal Morning, charging the audience with a stand out statement: “Africa is not the biggest problem in the world, it is the biggest opportunity”.

Kenza Lahlou of Outlierz Ventures shared on the Global Development Funding Panel “The role of DFIs is not to be there forever but to provide the investments that work and exit.”

Closing out at the inaugural Awards Ceremony of the Africa Early Stage Investor Summit, Tomi Davies received a ‘Lifetime Achievement Award' for his decades of commitment to promote angel investing in Africa. He delivered a moving speech with all ears listening raptly as he concluded ”Africa's youth population is the best source to build Africa's infrastructure.”

In a statement that perfectly sums up the experience of co-hosting this edition: “AESIS2024 once again pointed out that collaboration is a must,” said Vincent Hoogduijn. “It's been a tough year and we all need to work together to overcome the challenges ahead. Persistence, resilience and adaptability will be key ingredients to see the ecosystem thrive - go fast alone, go far together”

VC4A is grateful for the opportunity to serve the ecosystem as a platform to connect, inspire, and empower. Looking ahead, the collective efforts of investors, entrepreneurs, and policymakers will be essential to unlocking Africa's full potential and driving its economic growth. VC4A's commitment is to continue to unite Africa's startup ecosystems. Together with co-hosts ABAN, VC4A looks forward to reconnecting with old and new friends at AESIS2025 next year.

Distributed by APO Group on behalf of VC4A.

Media enquiries:
Boye Abiodun-Adepoju,
boyewa@vc4a.com

About AESIS:
The Africa Early Stage Investor Summit (AESIS) is a collaborative venture between VC4A and ABAN, dedicated to advancing innovation and growth in Africa's investment ecosystem. Celebrating its 11th anniversary, AESIS2024 brought together investors, industry leaders, and influencers with the aim of accelerating early-stage investing across Africa. Visit https://AfricaInvestorSummit.com for more information.

About ABAN:
ABAN is the largest pan-African organization of Angel investors in Africa. Established in 2015, ABAN represents the growing number of business angel groups in the African early-stage ecosystems' future, providing vital human and financial capital to African startup companies creating jobs across the continent. Today, ABAN is a 75-member network in 37 African countries and the Diaspora representing over 5,000 angel investors. Visit the ABAN website (http://apo-opa.co/4gtDRVk) for more information.

About VC4A:
VC4A is an ecosystem builder that leverages its infrastructure, network, and expertise for the programs that contribute to the startup movement in emerging markets. Since 2007, the organization has designed, structured, and implemented successful entrepreneurship programs in exciting regions. VC4A runs an online platform featuring a database of startups in Africa and Latin America, connecting entrepreneurs to resources, networks, and funding. Visit the global website at https://VC4A.com/ for more information.

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10 December 2024

Submit applications to JET funding platform today

Location: News

Submit applications to JET funding platform today

Energy and Electricity Deputy Minister Samantha Graham-Maré has urged community project owners to submit applications to the Just Energy Transition (JET) funding platform before the 13 December 2024 deadline.

The Deputy Minister explained that the funding platform was developed by the JET Office within the Presidency “in response to the low rate of take-up for the funding committed by the International Partners Group (IPG), which have committed over $11 billion to South Africa’s goal of decarbonising our energy sector".

“However, there has been difficulty matching projects to funders, and many potential projects are not always at a stage where funders can commit.

“The purpose of the JET Funding Platform is to be a matchmaker between grant funders and potential JET beneficiaries by providing project preparation and application support, while offering complete transparency to the public on the grant spending and projects.

“Eligible projects must aim to drive renewable energy innovation, economic growth, and community development, and through the platform, will be able to move through project preparation gates and submit feasible applications that meet the expectations and requirements of funders. The platform also allows multiple funders to support one project, which allows for greater funding and support from a variety of sources,” Graham-Maré said.

Focus areas on the platform include:

Supporting communities and workers impacted by the shift from coal to renewable energy.
Economic diversification planning to create resilient, renewable-energy-driven economies, particularly in Mpumalanga.
Community ownership models for renewable energy projects, ensuring inclusive participation.
Technical assistance and business development support for renewable energy initiatives.
Capacity building for institutions and community organizations active in renewable energy.
Start-up capital, debt, and equity for enterprises championing renewable energy in transitioning regions.
Reskilling and upskilling programs to help workers thrive in renewable energy careers.
Research and innovation to advance renewable energy technologies and community-led solutions.
Credit support for SMMEs driving renewable energy advancements.

“The JET Funding Platform is a beacon of South Africa’s commitment to a cleaner, greener energy future. By enabling innovative renewable energy projects, we are not just stabilising the grid but creating jobs, fostering economic resilience, and placing communities at the heart of our energy transformation. The platform's goal for the first year is to match 20 projects with R600 million of funding.

“I encourage all eligible organisations to take advantage of this unique opportunity before 13 December 2024.

“Let us make the most of this moment to advance South Africa’s renewable energy journey, ensuring that no community is left behind, as we transition to a sustainable and inclusive energy future,” Graham-Maré concluded.

Applications can be submitted at www.jetfundingplatform.org.za. - SAnews.gov.za

NeoB
Tue, 12/10/2024 - 10:01

42 views

9 December 2024

South Africa’s progress in 2024 sets the stage for hope in the New Year

Location: News

South Africa’s progress in 2024 sets the stage for hope in the New Year

As the year draws to a close, President Cyril Ramaphosa has reflected on South Africa’s achievements and challenges, expressing optimism for the year ahead in his weekly newsletter.

This year marked three decades since the advent of democracy, with the country commemorating its progress in building a constitutional order rooted in freedom, equality and human rights.

Among the highlights was South Africa’s seventh successful General Election, with 70 political parties contesting. The Electoral Commission was lauded for its efficient management of the polls, reflecting a maturing democracy.

“Our democracy has evolved and matured. We have a Government of National Unity comprising 10 political parties from across the political spectrum. They have agreed on three strategic priorities for this administration. The first strategic priority is to grow our economy and create jobs.

“The structural reforms initiated under the sixth administration are continuing to create conditions for our economy to grow and to create jobs,” the President said.

Economic growth and energy stability

Efforts to grow the economy and create jobs have borne fruit, with over 250 days of uninterrupted power supply this year. This achievement was credited to improved maintenance by Eskom, increased renewable energy capacity, and widespread adoption of solar solutions.

“The work of the National Energy Crisis Committee continues. It is working to get more power onto the grid, expand our electricity infrastructure, diversify the market for the benefit of consumers, and lay the groundwork for an energy-secure future,” the President said.

President Ramaphosa said the recovery of commuter and freight rail services also marked a turning point. Passenger rail saw a surge in usage, with 31 of 40 corridors operational and passenger numbers climbing to 40 million from 15 million in the previous year.

Ports in Durban and Cape Town also experienced operational improvements, further boosting economic activity.

“We are making progress in the recovery of freight rail and dealing with longstanding operational challenges in our ports. We are seeing improvements at the container terminals in Durban and Cape Town, as well as with infrastructure upgrades,” the President said.

Tackling poverty and the cost of living

Turning to poverty and the cost of living, the President noted a significant drop in consumer inflation, bringing down prices of essential goods, including food and fuel.

While unemployment levels remain extremely high, the President said more South Africans are finding jobs.

Government continued to sustain a substantial social wage, dedicating 60% of the national budget to social grants, subsidized housing, free basic services, and no-fee schools.

“These are the measures that reduce poverty and directly improve people’s lives. In addition to the provision of grants to vulnerable groups and unemployed people, this social wage includes subsidised housing, free basic services, no-fee schools and school nutrition. Government has been able to sustain these measures, even as public finances are under severe pressure,” President Ramaphosa said.

Strengthening State capacity

The President said the administration has worked to enhance government’s ability to deliver basic services, despite the challenges of poor governance and financial constraints in many municipalities.

“The third strategic priority of this administration is to strengthen the capacity of the State to deliver on its mandate. Our efforts to improve the capacity and capability of the state to deliver on basic services continue,” the President said.

The President cited disruptions in the supply of electricity and clean water as a major problem in many municipalities. He added that many local councils are plagued by poor governance, limited capacity and severe financial constraints which affect service delivery.

“These are the challenges we are grappling with. We have identified local government as a major focus in this administration. Through initiatives like the Presidential eThekwini Working Group, we are bringing all stakeholders together to solve local problems,” the President said.

Challenges and Future Plans

While progress has been made, the President acknowledged persistent challenges.

Unemployment remains high, crime and violence are widespread, and service delivery disruptions are a major concern. However, he emphasised the importance of collaboration among government, business, labour, and civil society to address these issues.

“The progress we have made this past year and during the course of the previous administration shows that we can overcome the difficulties our country faces.

“As government, business, labour and civil society, we are able to achieve a great deal when work in unison to overcome our common challenges,” the President said.

G20 Summit in 2025

Looking ahead, South Africa will host the G20 Summit in 2025, further positioning itself as a key player in addressing global challenges.

The administration also plans to launch a National Dialogue to unite citizens in crafting a shared vision for the country.

“In the new year, we will embark on a National Dialogue that will draw together all South Africans in crafting a common vision for the country,” the President said.

Concluding his message, the President expressed hope for 2025, vowing to build on the momentum of 2024.

“Overcoming poverty and underdevelopment, creating more jobs, and addressing societal ills like gender-based violence, requires that we must all play our part, where we can.

"On many fronts, this year has been better than the last. We will build on these achievements in 2025.

"Wherever you may be this festive season, I wish you well,” the President said. – SAnews.gov.za

DikelediM
Mon, 12/09/2024 - 11:24

253 views

9 December 2024

SA kicks off first G20 engagement

Location: News

SA kicks off first G20 engagement

South Africa has set the agenda for its Group of Twenty (G20) Presidency with the commencement of the fist engagement of the more than 130 meetings that will precede the G20 Summit in 2025.

The Minister of International Relations and Cooperation, Ronald Lamola, officially opened the first G20 Sherpas Meeting in Johannesburg, on Monday.

The Sherpa Track is led by the personal representatives of G20 leaders. The Sherpa Track oversees negotiations and discusses the points that form the summit’s agenda, and coordinates most of the work.

“The first Sherpa Meeting of the G20 is important traditionally, as it sets the stage for the upcoming Presidency and the critical conversations on some of the most vital issues of our time.

“In the spirit of Ubuntu, our shared humanity, we will address these challenges through our high-level deliverables and priorities, which lie at the core of the original G20 mandate of promoting strong, sustainable, balanced and inclusive growth and by building partnerships across all sectors of society to find collective solutions,” Lamola said on Monday.

WATCH |

South Africa’s G20 Presidency is being held under the theme: "Solidarity, Equality, Sustainability", a theme that seeks to harness global will and capabilities to confront the enormous challenges the world is facing.

South Africa will use its G20 Presidency to secure urgent progress on shared goals through several priority actions, which include strengthening disaster resilience and response; ensuring debt sustainability for low-income countries; mobilising finance for a just energy transition and harnessing critical minerals for inclusive growth and development.

As part of its efforts to bring the Sherpa and the Finance tracks closer together, three temporary Task Forces, an Initiative and a Commission will be established during South Africa’s G20 Presidency.

South Africa’s priorities include Inclusive Economic Growth, Industrialisation, Employment and Reduced Inequality; Food Security and Artificial Intelligence, Data Governance and Innovation for Sustainable Development.

“A review of the work of the G20 -- The G20 at 20 years: A Reflection on Key Achievements and the Way Forward -- will also feature as one of South Africa’s deliverables through a Sherpa Track Initiative. South Africa also proposes the establishment of a Cost of Capital Commission during its G20 Presidency,” Lamola said.

The three Task Forces, the Initiative and Commission will be established to deliver tangible results during South Africa's G20 Presidency. All of the priorities, as well as the overall theme, will influence Working Groups’ priorities and work plans.

South Africa assumed its G20 Presidency on 1 December 2024, following the astute and successful leadership of Brazil.

“The South African government also recognises the significant strides made by the Brazilian G20 Presidency in enhancing the G20 as a site of democratic global engagement. The South African Presidency will continue this trajectory.

“A comprehensive dialogue with civil society and other State and non-State institutions will be conducted through the existing Engagement Groups.

“Following the approach of the Brazilian Presidency, a G20 Social Forum will be convened, which will precede the Leaders’ Summit in November 2025, to bring together representatives of the existing engagement groups and other segments of civil society that may offer meaningful contributions to the G20,” Lamola said.

The G20 group comprises many of the world's largest developing and developed economies. It was established to tackle pressing global economic and financial issues. Together, G20 members account for around 85 percent of global GDP and 75 percent of international trade.

The grouping therefore plays a critical role in influencing global policy making and fostering global economic stability.

“I trust that this meeting will set the trend for our subsequent meetings and that, as much as we celebrate the landmark achievements of the G20, we will also, during the course of the year ahead, begin to look ahead toward the strategic imperatives for the next cycle of G20 cooperation,” Lamola said. -SAnews.gov.za

nosihle
Mon, 12/09/2024 - 12:08

163 views

8 December 2024

SA, Algeria strengthen ties

Location: News

SA, Algeria strengthen ties

South Africa and Algeria have concluded a successful 7th session of the Bi-National Commission, marking a significant milestone in strengthening cooperation between the two nations.

President Cyril Ramaphosa recently led a delegation comprising Ministers, senior officials and business leaders in Algeria for a State visit at the invitation of President Abdelmadjid Tebboune.

South Africa and Algeria enjoy strong political, economic, and social relations following the establishment of diplomatic relations in May 1994.

Speaking during a media briefing on Friday, President Ramaphosa said the outcomes of this session have paved the way for further cooperation, demonstrating the strong commitment of South Africa and Algeria to advancing the African continent's collective goals.

“From our discussions, we are certain that this Bi-National Commission will continue to deepen collaboration, trade, investment and people-to-people exchange between South Africa and Algeria.

“President Tebboune and I were extremely satisfied with the detailed report that was presented on progress in the key areas of cooperation between Algeria and South Africa,” President Ramaphosa said.

President Ramaphosa said the Bi-National Commission is seen as a mechanism to expand trade and investment ties between the two countries.

While there is currently a healthy volume of bilateral trade, the two Heads of State agreed that this should be far higher.

“With preferential trading now having commenced under the African Continental Free Trade Area, there is even greater opportunity to deepen intra-African trade and strengthen economic linkages between major African economies.

“We have a shared conviction that deepening our bilateral relationship should serve the cause of African economic integration, shared prosperity, stability and peace,” he said.

With the Algeria-South Africa Business Forum having taken place on Thursday, President Ramaphosa said it was an important opportunity for Algerian and South African businesses to explore synergies and plan projects.

South Africa had a sizeable business delegation spanning a range of economic sectors such as agriculture, manufacturing, automotive, construction and mining.

“We also have representatives from our Industrial Development Corporation, who are here to pursue investment leads the corporation could potentially fund.

“President Tebboune and I agreed that potential exists for cooperation on low-carbon economic growth in areas such as renewable energy and electric vehicle manufacturing. South Africa and Algeria have respective comparative advantages that can be harnessed for mutual benefit,” he said.

Addressing Geopolitical Challenges

Against the backdrop of rising global geopolitical tensions, President Ramaphosa briefed President Tebboune on South Africa’s case before the International Court of Justice to hold Israel accountable for its actions in Gaza. Both leaders reiterated their call for an end to hostilities, the release of hostages, and the provision of humanitarian aid to the people of Gaza.

“South Africa and Algeria agree that the only lasting solution to this conflict is the realisation of the Palestinian people’s right to self-determination.

“As countries that have known the pain of occupation and dispossession, we stand in solidarity with the oppressed everywhere, including in Palestine and Western Sahara,” President Ramaphosa said.

As South Africa marks 30 years of democracy, President Ramaphosa extended his gratitude to the noble people of Algeria for standing with the country in its struggle for liberation. – SAnews.gov.za

DikelediM
Fri, 12/06/2024 - 16:17

448 views

8 December 2024

Over 250 days without load shedding

Location: News

Over 250 days without load shedding

Eskom has now reached more than 250 days without implementing load shedding – resulting in year-on-year diesel cost savings of nearly R17 billion.

“The investment in the Generation Recovery Plan continues to yield consistent results, with load shedding suspended for 254 consecutive days since 26 March 2024.

“This achievement reflects the ongoing success of comprehensive structural improvements within the coal-fired fleet, reinforcing Eskom’s commitment to providing a reliable energy supply, enabling economic growth, and promoting long-term sustainability,” Eskom said.

The power utility said as industry begins to shutdown for the December holidays, it will be gradually increasing its maintenance activities to “further improve the reliability of its generation fleet”.

“Over the past week, the average total unplanned outages have been at 11 038MW, a significant improvement from the 14 475MW recorded during the same period last year, representing a reduction of 3 437MW. [Friday’s] unplanned outages [were] at 11 834MW, which is 1 166MW lower than the summer 2024 base case, indicating consistently improved operational efficiency week after week.

“Eskom’s EAF [Energy Availability Factor] was at an average of 59.4% over the past week and 62.8% year-to-date, with top-performing stations — including Majuba, Medupi, and peaking stations — achieving an average EAF of 70% and above. Four other power stations recorded EAFs above 60%,” Eskom said.

Furthermore, the power utility said it expects an additional 2 600MW to return online by Monday (tomorrow) evening.

“In August, Eskom shared its Summer Outlook for the period from 1 September 2024 to 31 March 2025, predicting a likely scenario of a loadshedding-free summer due to structural generation improvements. This outlook remains unchanged,” Eskom said. – SAnews.gov.za

NeoB
Sun, 12/08/2024 - 12:01

115 views

6 December 2024

Work underway to resolve SA’s challenges

Location: News

Work underway to resolve SA’s challenges

Collaboration between businesses and government is essential to overcoming the country’s challenges and ensuring a sustainable future for South Africa, Deputy President Paul Mashatile has said.

He told Members of Parliament (MPs) that economic growth remains government’s number one priority.

“We have always appreciated the role of the private sector in the growth and development of our economy,” he said on Thursday.

In attracting investments, and stimulating economic growth, the Deputy President stated that the previous administration adopted reforms aimed at improving energy and logistical constraints reducing barriers to private sector investment.

Meanwhile, he said the sixth administration worked hard to address structural rigidities in the labour market as well as to tackle crime and corruption.

The Deputy President was responding to questions in the National Council of Provinces (NCOP) on a range of national and international issues of public importance.

He also touched on Phase 2 of the Business and Government Partnership launched by President Cyril Ramaphosa in October this year.
READ | Second phase of Government - Business Partnership launched

This partnership is aimed at supporting government efforts to accelerate the country’s path towards sustainable inclusive economic growth and job creation, through increased investment.

Since then, about 140 CEOs from leading South African businesses pledged to work with government in increasing gross domestic product (GDP) growth, creating jobs, and promoting investor confidence.

“The collaboration between businesses and the government is essential in overcoming the current crisis and ensuring a sustainable future for South Africa.”

He stated that Phase 2 will also strengthen the acceleration of the market reform needed for long-term energy security and infrastructure development for inclusive economic growth.

Over the medium term, the Deputy President said the State was transforming its approach to public sector infrastructure by creating the conditions to attract private sector participation.

“Private sector resources were mobilised to address the energy crisis. As we are all aware we have not had an uninterrupted power supply since 26 March 2024, which is over 250 days. Together with the private sector, we are now focusing on augmenting public sector capability and to provide new channels for financing.”

Meanwhile, he said the focus has now shifted to addressing water and infrastructure-related challenges, including freight and logistics.

“We will continue to mobilise private sector resources to augment the capability of the public sector to fast track the provision of sustainable energy and critical infrastructure to support inclusive economic growth.”

Intergovernmental debt

On the question of the growing intergovernmental debt, the Deputy President admitted it was a challenge that hampers government efforts to deliver services, particularly at local government level.

He announced that the National Treasury will also consider “top slicing” budgets of departments that owe municipalities to settle the debt.

He assured MPs that the State was implementing several measures to address debt.

According to the Deputy President, Accounting Officers are required to settle all contractual obligations and pay all monies owed, including inter-governmental claims, within 30 days of the submission of an invoice, or on a specific period agreed upon with creditors or suppliers.

In addition, he said the Treasury is enforcing the implementation of section 216 (1) of the Constitution by withholding the Local Government Equitable Share and other conditional grants for persistent municipal failure, including non-payment of bulk suppliers and third parties.

The National Government Debt Forum, chaired by the Department of Public Works and Infrastructure, is aimed at resolving the current challenges of non-payment of municipal accounts by organs of State.

The forum deals with challenges such as those relating to property ownership, incorrect tariff charges, unjustified huge interest charges as well as budget constraints.

“We will continue to implement these and other measures to eliminate the challenge of intergovernmental debt, and to improve the delivery of services to our communities,” he added. – SAnews.gov.za

Gabisile
Fri, 12/06/2024 - 10:58

160 views

6 December 2024

me&you mobile Removes eSIMs From its Website

Location: News

But action from government is needed too

5 December 2024

Cabinet notes decline in GDP by 0.3% in third quarter of 2024

Location: News

Cabinet notes decline in GDP by 0.3% in third quarter of 2024

Despite the third quarter gross domestic product (GDP) decline, Cabinet has welcomed the positive economic outlook by the International Monetary Fund (IMF) and rating agency Standard & Poor’s (S&P), as the impact of the implemented Operation Vulindlela coordinated reforms have started to bear fruit.

This is according to Minister in the Presidency Khumbudzo Ntshavheni, who briefed the media on the outcomes of the Cabinet meeting held on Wednesday, 4 December.

S&P revised South Africa’s outlook to “positive” from “stable” in November this year, citing plans for accelerated economic reforms by the new government of national unity and a pickup in private investments.

Ntshavheni said Cabinet noted the decline in GDP by 0.3% in the third quarter of 2024, with the largest decline of 28.8% recorded in the agriculture, forestry and fishing, which may indicate the impact of drought.

Statistics South Africa (Stats SA) has indicated that the severe drought in 2024 caused a 0.3% decline in the country’s GDP in the third quarter.

Meanwhile, S&P also upgraded Eskom’s long-term global-scale foreign and local currency ratings from stable to positive, which indicates the progress made by government in strengthening Eskom’s financial and operational foundation through the work of the National Energy Crisis Committee (NECOM), the Eskom Board and Executive team.

“Cabinet further welcomed the decision by the South African Reserve Bank to cut the repo rate by another 25 basis points from 8% to 7.75%," said Ntshavheni.

The Executive believes that the lower interest rate will continue to ease the burden on highly indebted consumers and mitigate the high cost of living, while also encouraging businesses to expand their operations to further stimulate economic activity.

Investment

Cabinet has welcomed the announcement by Saudi Arabia to invest R9.5 billion to build a platinum smelter and base metals refinery in the Waterberg in Limpopo.

“This new investment is a strong vote of confidence in our nation and builds on the first phase of our investment mobilisation drive under the sixth administration that saw our nation surpass its investment target by 26% to reach a total of R1.51 trillion in investment pledges,” said Ntshavheni.

The Minister said South Africa is now targeting R2 trillion in new investments over another five years between 2023 and 2028.

SAA

In addition, the Executive has commended South African Airways’ (SAA) strong performance, highlighting the airline’s significant progress towards financial sustainability.

“For the first time since 2012, the SAA has recorded a net profit of R252 million for the 2022/23 financial year, and group revenue increased from R2 billion to R5.7 billion.

“Remarkably, SAA achieved this milestone while operating with only six to eight aircraft across nine destinations at the beginning of the 2022/23 financial year,” Ntshavheni said, adding that the airline has since doubled its fleet, launched intercontinental routes, and increased its network to 16 destinations. – SAnews.gov.za

Gabisile
Thu, 12/05/2024 - 15:44

110 views

4 December 2024

Joint Operation Exposes Illegal Electricity Operation in Fochville Costing Eskom Millions of Rands

Location: Business

Wednesday, 04 December 2024: A collaborative operation involving Eskom Gauteng Distribution Security, the South African Police Service (SAPS), City Power and Eskom-contracted security personnel uncovered a large-scale illegal electricity operation during a raid at three houses located on a farm, which was heavily guarded, in Leeupoort near Fochville in Gauteng. Intelligence investigations uncovered that stolen...

4 December 2024

SA, Nigeria talk trade

Location: News

SA, Nigeria talk trade

President Cyril Ramaphosa says South Africa and Nigeria enjoy strong diplomatic ties and expanding trade and investment flows.

“The strategic positioning of both countries in their respective regions presents enormous opportunities for collaboration,” President Ramaphosa said.

South Africa and Nigeria are this year marking 30 years of diplomatic relations, established in February 1994.

Speaking during a roundtable discussion between South Africa and Nigeria held in Cape Town on Tuesday, President Ramaphosa said in West Africa, Nigeria is the main destination for South African exports and investments.

“But more needs to be done to improve trade and commercial relations between the two countries,” he said.

President Ramaphosa said South Africa runs a large trade deficit with Nigeria, mainly due to its import of Nigerian oil and gas.

“There is a need to diversify our trade to ensure a mutually-beneficial partnership. We are greatly encouraged by the presence of South African companies in Nigeria, just as we welcome Nigerian companies in South Africa.

“We do recognise that challenges still exist within our respective operating environments that limit the expansion of investment and sometimes impact on the operations of companies,” he said.

The President visited Nigeria during a State Visit in 2021 and the Ministers of Trade launched the Joint Ministerial Advisory Council on Industry, Trade and Investment.

He added that South Africa and Nigeria have agreed on the full operationalisation of the Council.

“This will support a conducive environment for improved trade and investment. Through the Council, we hope to ensure the efficient resolution of trade- and investment-related challenges.

“As governments, we have committed in our Bi-National Commission to create an enabling environment for doing business in our respective countries. We have an opportunity to drive industrialization.”

READ | SA-Nigeria conclude successful Bi-National Commission

The first citizen said in the automotive sector for example, the two countries can create value chains in the manufacture of components and electric motorcycles.

“In critical minerals, we can use lithium to manufacture electric batteries. There is also much opportunity for cooperation on pharmaceuticals. Our two countries are in a strategic position to benefit from the rapid growth of clean energy manufacturing industries.

“South Africa has developed a Just Transition Framework and an Investment Plan that anticipates massive investments in renewable energy and the green economy over the next few years,” he said.

In addition, as part of the broader global transition to a low-carbon economy, the two countries must leverage the abundant natural resources that exist to promote green industrialisation.

“We should leverage each other’s capabilities in minerals processing. We must work together to ensure critical minerals are beneficiated at source. We call on business to support and involve themselves in these initiatives.

“Our development finance institutions can work together to support infrastructure development.”

The President said South Africa has embarked on a massive infrastructure investment drive that encompasses projects in electricity generation and transmission, bulk water supply, roads, railways, bridges and ports.

“We need to explore how we can mobilise our respective capabilities and resources to develop social and economic infrastructure in our countries.

“The African Continental Free Trade Area, once fully implemented, will enable a massive growth in intra-African trade and investment. We must identify what products can be traded among ourselves that we are now importing from elsewhere,” he said. -SAnews.gov.za

Edwin
Wed, 12/04/2024 - 11:16

108 views

4 December 2024

Young South African Scientists Impress Judges at Türkiye Science Fair

Location: Business

Wednesday, 04 December 2024: Two South African learners from the Eskom Expo for Young Scientist International Science Fair were awarded medals after successfully showcasing their research projects at this year’s İzmir International Innovation Science Energy Engineering Fair (IISEEF) in Türkiye. Thiedu Du Preez, 17, from Vredenburg High School on the West Coast, was awarded a...

3 December 2024

Eskom Publishes Disconnection Notice for Local Municipality Over R328 Million Unpaid Debt

Location: Business

Thursday, 28 November 2024: Eskom today published a notice of the possible disconnection of bulk electricity supply to Tokologo Local Municipality (the Municipality) in the Free State in accordance with the provision of the Promotion of Administrative Justice Act (PAJA). Should Eskom proceed with the disconnection, bulk electricity supply to Boshof, Seretse, Dealesville and Hertzogville...

3 December 2024

Eskom Appoints Group Executive for Strategic Delivery

Location: Business

Tuesday, 03 December 2024: Eskom Group Chief Executive (GCE) Dan Marokane has announced a further new executive appointment to align its executive execution capability and capacity to prepare for a competitive marketplace. Mr Alfred Seema joins as Eskom Group Executive for Strategic Delivery from Sasol, where he most recently held the role of Vice President...