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President Ramaphosa assents to Upstream Petroleum Resources Development Bill

Location: News

President Ramaphosa assents to Upstream Petroleum Resources Development Bill

President Cyril Ramaphosa has officially assented to the Upstream Petroleum Resources Development Bill, a key piece of legislation aimed at accelerating petroleum exploration and development with participation by black South Africans, as part of the nation’s social and economic advancement. 

The Presidency said in a statement that the Bill ensures petroleum resources are developed responsibly, provides fair access, and promotes sustainable growth. 

It also allows for active involvement from government and black South Africans in building up the country’s petroleum sector. 

“The legislation acknowledges that South Africa’s petroleum resources belong to the nation and that the state is the custodian of these non-renewable natural resources which must contribute to South Africa’s social and economic development,” The Presidency said. 

As part of advancing industrialisation and manufacturing diversity, the law provides for local content as a development strategy to enable skills development, local recruitment and national participation through supply of goods and services.

The Bill reaffirms the state’s commitment to regulatory certainty and to guaranteeing security of tenure in respect of petroleum rights.

The Bill separates petroleum provisions from minerals provisions as currently provided for in the Mineral and Petroleum Resources Development Act.

“This separation is necessary from a policy and administrative perspective to ensure matters in the petroleum and minerals industries are addressed on the basis of their distinctive features, to bring about stability and security to investors, especially in the upstream petroleum sector,” the Presidency said. 

The law sets out the functions of the South African Agency for Promotion of Petroleum Exploration and Exploitation, which include receiving and evaluating applications for reconnaissance permits, petroleum rights and retention permits, and making recommendations to the Minister of Mineral Resources and Energy.

Reconnaissance refers to any operation carried out for or in connection with the search for petroleum by geological, geophysical and photo geological surveys. – SAnews.gov.za

 

DikelediM
Fri, 11/01/2024 - 11:34

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Read morePresident Ramaphosa assents to Upstream Petroleum Resources Development Bill

SARS welcomes MTBPS, increases its compliance focus

Location: News

SARS welcomes MTBPS, increases its compliance focus

The South African Revenue Service (SARS) has welcomed the Medium-Term Budget Policy Statement (MTBPS) presented in Parliament by Finance Minister Enoch Godongwana on Wednesday. 

The MTBPS revised the February 2024 Budget net tax revenue forecast from R1.863 trillion to R1.8408 trillion.

SARS said as of 30 September 2024, it has collected gross revenue of R1 070.4 billion, yielding a net revenue of R846.2 billion and R224.3 billion in refund payments. 

The revenue performance was bolstered by stronger collections from CIT Provisional tax and lower-than-expected VAT and PIT refund payments. 

This was offset by lower-than-expected collections from Customs taxes, PAYE, and the General Fuel Levy. 

The areas that were adjusted downward are: 

  • Lower-than-expected previous year salary adjustments, reducing the nominal wage bill estimate from 8.4% in the 2024 Budget to 5.5% in the MTBPS 2024. 
  • Slower growth on capital projects across general government, public corporations and private sector, with gross capital formation anticipated to decline from 9.5% in the 2024 Budget to 5.2%.
  • Downward revision in outlook of nominal exports from 5.2% to 3.5%, as well as nominal imports from 6.0% to 3.8%.
  • At Budget 2024, a 13.8% growth in PAYE, based on the 8.4% growth in the wage bill, was assumed. PAYE collections for year-to-date (September 2024/25) amount to R340.0bn, lower than the PE by R12.0bn (3.4%) and higher than previous year by R30.8bn (10.0%).

SARS highlighted that the deficit in revenue collections was partially offset by strong collections in CIT provisional tax collections (at R150.2 billion) against an expectation of R141.4 billion, yielding a surplus of R8.8 billion, up by 2.7% or R3.9 billion from the previous year. 

The fuel levy has faced challenges this financial year due to a year-on-year decrease in fuel consumption, with 1.333 million litres less fuel used. SARS said that this decline, attributed to factors like reduced load shedding and a shift to alternative energy sources, has directly impacted the Net Fuel Levy, resulting in a 3.9% year-on-year contraction and a R7.2 billion shortfall.

Trade taxes also underperformed, as imports, which were expected to grow by 1.9%, have instead declined by 5.1% year-to-date. Total trade flows have decreased by R39.2 billion (or -2.0%) compared to the same period last year, primarily due to lower import flows of electrical machinery and vehicles.

SARS noted that Provisional Corporate Income Tax (CIT) collections reached R150.2 billion, recording a surplus of R8.8 billion (6.2%) and a year-on-year growth of R3.9 billion (2.7%), driven by the Finance, Electricity, and Manufacturing sectors. 

Collections exceeded the Budget 2024 target rate of -3.3%. However, the Mining sector continues to struggle with volatile commodity prices, particularly in Platinum Group Metals, Coal and Iron Ore, which has negatively impacted profitability and provisional payments. Additionally, the sector faces ongoing transport, logistics, and border crossing issues, leading to delays and higher export costs.

Despite having finalised ± 1.3 million more debt cases, which is almost 290% more than the previous year, SARS said its debt compliance efforts have yielded lower returns year-on-year by R9.3 billion, which equals to a 23.6% year-on-year contraction. 

SARS further recorded significant year-on-year increases in deferred payment arrangements, requests for suspension of payments, and final demands, highlighting the financial hardship taxpayers are experiencing and its impact on their ability to meet tax obligations.

“The SARS Strategic Intent will continue to focus on Voluntary Compliance, ensuring that taxpayers and traders have clarity and certainty regarding their obligations, along with the necessary tools to facilitate easy and straightforward compliance. Conversely, SARS will impose significant legal and administrative costs on taxpayers and traders who deliberately fail to meet their obligations,” the revenue service said.

SARS said that its compliance efforts continue to yield success in dealing with non-compliance in particular segments and tax products. To date, compliance revenue secured R110.1 billion, reflecting a growth of R8.1 billion (8.0%). 

The Revenue Service emphasised that it will continue to intensify its efforts to maintain visibility and reinforce compliance, with plans to invest further on compliance initiatives to close the tax gap by targeting various taxpayer segments. 

SARS Commissioner Edward Kieswetter said that in pursuing the attainment of the 2024/25 tax revenue estimate of R1 840.8 billion, SARS will be unrelenting in its drive to engender voluntary compliance. 

“Critical in this pursuit is to ensure that intermediaries charged by law to collect taxes on behalf of SARS pay it over. Importantly, SARS is ready to act against those who willfully and defiantly ignore their legal obligations by misrepresenting their true economic status. Those who enable this conduct are equally culpable. 

“Taxpayers who abdicate their legal obligations place a disproportionate burden on honest taxpayers. Taxes play a critical role in cushioning the most vulnerable and destitute in our society. In this respect, voluntary compliance is sacrosanct,” Kieswetter said.   

The Commissioner further emphasized that SARS will continue to intensify and deepen its existing administrative efforts. 

“We will continue to use sophisticated data science and artificial intelligence, to maintain the balance between service to taxpayers/traders, whilst managing risks to the fiscus by detecting dishonest taxpayers,” he said. 

SARS will deploy more data science and artificial intelligence (AI) to step up its focus on the following areas of compliance risk:

  • Broadening the tax base via third-party data sources: Leveraging data from both formal and informal sectors to widen the tax base.  
  • Work to register all taxpayers and traders, through predictive modelling, who ought to be on the register and ensure that they honestly file their declarations and pay their dues where necessary. 
  • Build its detection capability using machine learning models and Artificial Intelligence (AI) to significantly improve service and offer a seamless service to honest taxpayers. This will also be used to detect dishonest taxpayers, improve debt collection while expanding the tax base and deal with tax avoidance.
  • Enforcing trade laws against the illicit economy (Customs and Excise): Strengthening tools to detect and prevent illicit activities, including those related to tobacco, fuel, and illicit financial flows.
  • Focusing on dispute prevention and resolution: Prioritising products and strategies that prevent disputes that can be resolved.

“SARS is the nation’s treasure; a well-functioning tax and customs administration is a cornerstone to our vibrant democracy and should never be taken for granted. SARS seeks to ensure revenue sustainability by securing appropriate investment in SARS, and funding certainty. 

“From a human capital perspective, SARS will continue to attract, develop and sustain a workforce that is future ready. We will be building the leadership bench strength of SARS and protect the autonomy of the institution,” the tax revenue said. 

Despite the tough operating environment, SARS said it expects that the start of a cycle of interest rate cuts will spur consumption expenditure. This expansion is expected to drive economic growth and widen the tax base, resulting in buoyant corporate tax, and VAT revenues. 

Additionally, the introduction of the “Two-Pot” system is expected to increase the tax base in the short to medium term. 

“The 12 821 SARS staff, to whom we express sincere appreciation, will continue to work diligently in achieving the revised revenue estimate as presented by the Minister of Finance,” SARS said. – SAnews.gov.za

DikelediM
Thu, 10/31/2024 - 11:03

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Read moreSARS welcomes MTBPS, increases its compliance focus

African countries reaffirm commitment to nuclear weapons treaty

Location: News

African countries reaffirm commitment to nuclear weapons treaty

South Africa has welcomed the convening and outcomes of the 6th Conference of States Parties (CSP) to the African Nuclear-Weapons-Free Zone Treaty, also known as the Pelindaba Treaty.

The meeting was held from 24 to 25 October 2024 at the headquarters of the African Union (AU) in Addis Ababa, Ethiopia. 

The Department of International Relations and Cooperation (DIRCO) said the States Parties have reaffirmed their commitment to the Pelindaba Treaty. 

They expressed concern over recent events and actions that have adversely impacted the operations of the Secretariat and the work of the African Commission on Nuclear Energy (AFCONE).

“They resolved to take the necessary measures to prevent such challenges in the future and strengthen cooperation among themselves and between the treaty structures,” the statement read. 

The department said the parties also reaffirmed the decision taken by the Chairperson of the African Union Commission (AUC) on 30 July 2024 to dismiss the former Executive Secretary, Enobot Agboraw. 

“They decided that a recruitment process to appoint a new Executive Secretary of AFCONE should commence urgently.” 

In addition, the States noted the difficult task of the South African government, as the host country, to implement the decision by the AUC Chair regarding the dismissal of the former Executive Secretary. 

However, they confirmed that no dispute exists between AFCONE and South Africa as the host country but expressed appreciation to the country for its continued cooperation and support and for hosting the AFCONE Headquarters.

“The Department of International Relations and Cooperation trusts that the pronouncement of the 6th CSP outcomes, as well as the dismissal by the High Court of South Africa on 18 September 2024, of the urgent application brought by Mr Enobot Agboraw, against the department regarding the withdrawal of his diplomatic immunities and privileges following termination of his employment contract as Executive Secretary of the AFCONE Secretariat. 

“This will effectively dispel the unfounded and false allegations in recent media reports against officials in the department, who have been carrying out their official responsibilities.”

Meanwhile, the department said South Africa remained fully committed to the Pelindaba Treaty and achieving its objectives. 

These include the establishment of an effective, impartial and professional Secretariat of AFCONE that can execute its mandate satisfactorily in promoting the peaceful application of nuclear energy on the African continent. 

“South Africa will continue to work with all States Parties to the Pelindaba Treaty to prevent any further reputational, operational and financial damage to AFCONE and its Secretariat and to restore its credibility in the interest of the African continent.” – SAnews.gov.za

Gabisile
Thu, 10/31/2024 - 11:35

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South Africa Welcomes the Convening of the Sixth Conference of States Parties to the African Nuclear Weapons Free Zone Treaty (Pelindaba Treaty)

Location: News

Republic of South Africa: Department of International Relations and Cooperation
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South Africa welcomes the convening and the outcome of the Sixth Conference of States Parties (CSP) to the African Nuclear Weapons Free Zone Treaty (Pelindaba Treaty) held from 24 to 25 October 2024 at the Headquarters of the African Union in Addis Ababa, Ethiopia.

States Parties to the Treaty reaffirmed their commitment to the Pelindaba Treaty and noted with concern recent events and actions that have negatively affected the operations of the Secretariat and the work of the African Commission on Nuclear Energy (AFCONE). They resolved to take the necessary measures to prevent such challenges in the future and strengthen cooperation among themselves and between the Treaty structures.

States Parties reaffirmed the decision taken by the Chairperson of the African Union Commission on 30 July 2024 to dismiss the former Executive Secretary, Mr Enobot Agboraw. They decided that a recruitment process to appoint a new Executive Secretary of AFCONE should commence urgently.

Furthermore, States Parties noted the difficult task of the Government of South Africa, as the Host Country, to implement the decision by the African Union Commission Chair regarding the dismissal of the former Executive Secretary and confirmed that no dispute exists between AFCONE and South Africa as the Host Country. The Conference expressed appreciation to South Africa for its continued cooperation and support and for hosting the AFCONE Headquarters.

The Department of International Relations and Cooperation (DIRCO) trusts that the pronouncement of the sixth CSP outcomes, as well as the dismissal by the High Court of South Africa (Gauteng Division: Pretoria) on 18 September 2024, of the urgent application brought by Mr Enobot Agboraw, against the Department regarding the withdrawal of his diplomatic immunities and privileges following termination of Mr Agboraw's employment contract as Executive Secretary of the AFCONE Secretariat, will effectively dispel the unfounded and false allegations in recent media reports against officials in the Department who have been carrying out their official responsibilities.

South Africa remains fully committed to the Pelindaba Treaty and achieving its objectives, including the establishment of an effective, impartial and professional Secretariat of AFCONE that can execute its mandate satisfactorily in promoting the peaceful application of nuclear energy on the African Continent.

South Africa will continue to work with all States Parties to the Pelindaba Treaty to prevent any further reputational, operational and financial damage to AFCONE and its Secretariat and to restore its credibility in the interest of the African Continent.

Distributed by APO Group on behalf of Republic of South Africa: Department of International Relations and Cooperation.

Read moreSouth Africa Welcomes the Convening of the Sixth Conference of States Parties to the African Nuclear Weapons Free Zone Treaty (Pelindaba Treaty)

SA working to promote inclusive growth, deal with high cost of living

Location: News

SA working to promote inclusive growth, deal with high cost of living

The South African government seeks to attract foreign investment to foster inclusive growth and tackle structural barriers faced by marginalised communities.

This is according to Deputy President Paul Mashatile, who was briefing Members of Parliament (MPs) in the National Assembly on Thursday. 

The Deputy President addressed several topics, including his recent working visit to Ireland and the United Kingdom.

He reflected on the keenness of investors from these two countries to tap into various South African sectors such as finance, energy, transportation and infrastructure development.

“The overall aim of this engagement was to reassure the world and investors that our country is stable and open for business. I must say, in all of these meetings, we were warmly received,” he told Parliament. 

In the United Kingdom, the Deputy President said he met with more than 20 institutional investors, who are already investing in South Africa.  

“We also engaged with the government of the United Kingdom to strengthen and renew the historically deep and rich bilateral relations between our two countries by exploring new initiatives and opportunities for enhancing trade and investments.” 

Following the working visit, government agreed to strengthen existing initiatives while exploring new opportunities to maintain strong trade and investor interest. 

“We anticipate that the upshot of our visit will contribute to an increase in the UK investors who have shown a strong interest in doing business in South Africa,” Deputy President Mashatile explained. 

In addition, he said the relevant ministerial teams presented opportunities in State-owned entities (SOEs), particularly Eskom and Transnet. 

“They dealt with issues of energy, rail and port projects and water infrastructure projects, including the handing of the investment project book that was developed by Infrastructure South Africa.”

However, the Deputy President believed that government alone would not be able to achieve the objectives of growing the economy and creating jobs. 

“As a result, we’re taking these steps to engage the private sector, particularly also foreign investors who are interested to come and invest in our country.”

The State is working hard to ensure the regulatory frameworks throughout government are friendly for investors who can come and invest. 

“So, we were quite impressed that many of those that we met were very happy. They were saying they will be taking advantage in South Africa so that we can create the necessary jobs that we want to create and empower many of our people, particularly young people,” Mashatile said.

G20 Presidency

The Deputy President is of the view that South Africa should use its G20 Presidency to prioritise its objectives of growing an inclusive economy that creates jobs. 

Preparations are underway for South Africa’s G20 Presidency and hosting the G20 Summit in 2025. South Africa is expected to take over Chair of the G20 from December 1 this year from Brazil. 

Mashatile said the State is determined to deal with the question of the high cost of living and professionalisation of the public service. 

“But we want to use that also to benefit the continent. So, what South Africa will do will ensure that, as we Chair the G20, [this] benefits the entire African continent, and we are looking at programmes of infrastructure.

“When leaders of various countries come here, they come with huge delegations, including business people, and therefore they look for opportunities. But we will make sure that there is sound infrastructure to be able to ensure that people can have meetings throughout the country.” 

The Deputy President announced that government has decided that it will concentrate meetings in one place, so the 2025 summit benefits the entire country. 

Skill shortages

Mashatile acknowledged that the local labour supply does not meet the demand for management personnel, professionals, engineers, technicians, educators, and information and technology experts, necessitating the temporary importation of high-level skills.

However, various measures are being implemented to improve local skills, including updating job listings, promoting the critical skills list, and enhancing vocational training in digital skills. 

Mashatile explained that the National Skills Fund directs resources to in-demand sectors and that the Human Resource Development strategy aims to match supply and demand for skilled workers. 

Meanwhile, he said collaboration among industry, government, education, and non-profits is crucial for effective skills development and local employment growth. – SAnews.gov.za
 

 

Gabisile
Thu, 10/31/2024 - 15:21

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Read moreSA working to promote inclusive growth, deal with high cost of living

Green Building Trends in Africa: Africa’s Urbanization Provides the Opportunity to Embrace Green Building

Location: News
Bureau Veritas

By Julien Fouilliart-Building & Infrastructure Growth Leader Middle East, Caspian and Africa, Bureau Veritas (https://group.BureauVeritas.com)​.

Globally, buildings are responsible for a substantial share of energy, electricity, water and materials consumption using between 35-40% of energy demand and contributing 37 per cent of world carbon dioxide (CO2) emissions. Including the manufacturing of building materials.

The 2022 updated Global Buildings Climate Tracker (GBCT) (https://apo-opa.co/3YLJiZG) shows that there is a significant gap between the current state and the desired decarbonization path which is concerning. In effect it means that to align with the 2030 milestone, an annual increase of ten decarbonization points is now necessary which is a substantial jump from the six points per year anticipated starting in 2015.

In 2019 in Africa, buildings accounted (https://apo-opa.co/4e8NIhN) for 57% of total final energy consumption and 32% of total process-related CO2 emissions.

Despite continental issues of poverty, unemployment and rapidly developing informal settlements among other issues, many countries in Africa are embracing green, sustainable building practices.

With its burgeoning population, expected to add some  1.2 billion people by  2050 (https://apo-opa.co/3AxgxXo) Africa faces rapid urbanization.

Urbanization provides an opportunity for countries across Africa to embrace green building practices, access available international green funding opportunities, and set a foundation for sustainability for future generations.

In 2023 the Africa Regional Network of World Green Building Council (WorldGBC) launched the Africa Manifesto for Sustainable Cities and the Built Environment, which sets out the actions that  policymakers and businesses across the continent need to take to achieve a net zero carbon, healthy, resilient, equitable, socially- and economically-inclusive built environment for everyone, everywhere.

Achieving these goals requires policymakers and business leaders across the continent to recognise the untapped potential of the built environment. But this can only be realized with the implementation of policies that support transformative action, through intense collaboration between governments, city and regional leaders, businesses and investors. 

South Africa is leading Africa's green building sector (https://apo-opa.co/3YLdq7N). It has over two million square meters certified green buildings that reduce water consumption, electricity, and waste disposal; 50 certified projects are projected to result in an annual saving of 76 million kilowatt hours which is equivalent to the electricity needs of 5,300 households every year.

South Africa has its own National Standard 10400 Part XA that deals with optimizing energy efficiency in buildings and in the light of this the Green Star South Africa and EDGE green building tools have been adapted and are widely used in the country. International rating systems like LEED and WELL are also used.

The scope of green construction in Egypt has been slow to grow but Egypt has two local rating systems in place called TARSHEED and the Green Pyramid Rating System. These, along with EDGE, LEED and WELL are used in various projects.

The Nigerian government has pledged to achieve a 20% reduction in its greenhouse gas emissions by 2030 and 45% with international support. Green building will likely be a big part of this change.

This country's National Building Code, developed by the National Council on Housing and Urban Development, and the Building Energy Efficiency Guideline (BEEG), also support the agenda of sustainable development by setting requirements for occupant health and safety, use of local and safe building materials and energy efficiency among other criteria.

Morocco has several legal provisions in place to promote sustainability and environmental protection through construction impact assessments for new building projects as well as energy-efficient construction requirements applicable to most residential and commercial projects. Several projects in the country have also achieved LEED green building credentials.

It also has several renewable energy projects such as the Noor Midelt Solar Plant and Tarfaya Wind Farm, one of the biggest wind farms in the continent.

As the drive towards Net-Zero heightens more African countries are joining the African Regional Network of the World Green Building Council. NGOs and other industry professionals are setting up green building councils in South Africa, Egypt, Tunisia, Nigeria, Botswana, Zimbabwe, Namibia, Mauritius, Tanzania, Kenya, Cameroon and Uganda.

One of the big hurdles restraining a sustainable development movement in the construction industry is a lack of awareness for practical sustainable actions among many developers and investors.

In South Africa there is a broad awareness of Green Buildings and the market share of certified buildings among all new builds is increasing. The 2021 International Finance Corporation's (IFC) Green Building Market Stakeholder Assessment for South Africa showed that on the supply side, key motivating factors for Green Buildings are their reduced carbon footprint increased end user demand and increased marketability.

From the occupier's perspective the motivating factors for buying or leasing a Green Building are lower utility bills and lower operating costs. Yet, at a residential level occupiers are only willing to pay a two percent premium for these benefits.

The IFC report points out that the perceived cost of construction and certification of green buildings are also considered major obstacles to the expansion of certified Green Buildings in South Africa (https://WorldGBC.org/). Its research indicates that those in the know estimated the additional construction cost to be 10% or higher, while those unfamiliar with Green Buildings are likely to significantly overestimate costs.

Currently, four out of six financial institutions provide financing for Green Building projects in some form or another and three require a certification to approve the loan. The portfolios of two consist of retrofitting existing buildings into Green Buildings; two of commercial and industrial Green Building construction finance and only one residential Green Building construction finance. Of the two FI's that currently do not fund any Green Building one plans to do so in the future while the other does not see this as part of their strategy.

The investment into green construction (https://apo-opa.co/4e8NYgL) has multiple benefits; it facilitates growth while addressing issues like employment, climate change, and poverty.

However, more needs to be done to improve the understanding of the benefits of green buildings such as lower operational costs, increased ROI as well as an overall improvement in occupant health and wellbeing. Financial institutions need to do more to support green construction. Those which have pledged to lower their investments in carbon producing industries could create green bonds or funds for the African construction sector. Government's need to provide policy support along with incentives to catalyze market development.

 All this suggests that there is still a sizable information gap regarding the cost, certification and benefits of Green Building and that further knowledge dissemination efforts are needed to close it.

Distributed by APO Group on behalf of Bureau Veritas.

About Julien Fouilliart:
Julien Fouilliart is a seasoned business development professional with 15 years of experience in international, multicultural, and cross-sector environments. He currently leads the growth of Bureau Veritas' Building & Infrastructure market across the Middle East, Caspian, and Africa regions. Julien holds a degree in Mechanical Engineering from Belfort University in France. He is based in Kenya and has a deep passion for the African continent. Julien has played a key role in the development of large and iconic infrastructure projects across the region. He has an extensive international background, having worked in France, China, Spain, Belgium, and the United Kingdom. His experience includes collaborating with global companies and public institutions to drive business growth in sectors such as aerospace, IT, rail, building, and transport infrastructure.

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Read moreGreen Building Trends in Africa: Africa’s Urbanization Provides the Opportunity to Embrace Green Building

Three Arrested for Stealing Sixteen Cable Drums Worth Over R1 Million From Wolmaransstad

Location: Business

Thursday, 31 October 2024: Eskom is pleased to announce that three suspects have been arrested by members of the South African Police Service (SAPS) in Pretoria in connection with the theft of drums of cable belonging to Eskom. The arrests follow an armed robbery incident that occurred at the Wolmaransstad Customer Network Centre (CNC) in...

Read moreThree Arrested for Stealing Sixteen Cable Drums Worth Over R1 Million From Wolmaransstad

Government to launch next phase of Operation Vulindlela

Location: News

Government to launch next phase of Operation Vulindlela

Government is expected to launch the next phase of Operation Vulindlela, which is aimed at accelerating the implementation of structural reforms.

This is according to the Medium-Term Budget Policy Statement (MTBPS) released by National Treasury on Wednesday.

Treasury explained that the country’s economic growth prospects are closely tied to Operation Vulindlela and structural reforms to “improve competitiveness and productivity and boost investment”.

“In its first phase, this initiative implemented 35 reform actions in five network industries, including reducing power cuts, improving the performance of the logistics system, lowering data costs, improving water supply and enabling the country to attract critical skills.

“The next phase of reforms will support higher medium-term growth, which is required to significantly expand employment. New initiatives aim to reverse local government decline, tackle spatial inequality and advance digital government to improve large-scale service delivery,” National Treasury said.

Operation Vulindlela is a joint initiative of the Presidency and National Treasury to accelerate the implementation of structural reforms and support economic recovery.

Government has set its focus on Eskom’s restructuring as a priority and to establish a bustling energy market, with adequate supply for a growing economy.

“The cumulative effects of reforms include improved power station performance and no ‘load shedding’ since 26 March 2024. The Electricity Regulation Amendment Bill was signed into law in August of this year. 

“This, together with the creation of the National Transmission Company of South Africa, which began operating on 1 July 2024, is establishing rules and procedures for a competitive electricity market. 

“The ongoing Energy Action Plan has boosted efforts to restore energy availability and procure new generation. By end-August 2024, project registrations with South Africa’s energy regulator exceeded 8500 megawatts,” the MTBPS stated.

The critical sector of freight rail logistics is also receiving attention.

“Transport reforms that open the freight rail network to private operators will reduce inefficiencies and costs, helping firms offer lower prices and boosting economic growth. To this end, the Economic Regulation of Transport Bill – enabling private-sector use of the rail network – was signed into law in June 2024. 

“Transnet freight volumes grew from 149.5 million tonnes at the end of the previous financial year to approximately 151.7 million tonnes by end-March 2024, supported by the implementation of a recovery plan from October 2023 and reversing a years-long decline. Port cargo handled has stabilised relative to 2023 levels,” National Treasury stated.

Treasury emphasised that reforms in the water sector are critical for economic growth and water security.

“The National Water Resources Infrastructure Agency Bill, signed on 27 August 2024, creates an independent agency to oversee bulk water resources. The Water Services Amendment Bill, allowing for intervention in failing municipalities, has received public comment and will soon be submitted to Cabinet for approval,” Treasury said.

Reforms in that sector target supply and infrastructure challenges.

“Water sector reforms being prioritised by Operation Vulindlela include independent regulation, strengthening local water services by licensing water service providers, legal proceedings on non-compliance by municipalities and trading services reforms. 

“Trading services reforms refer to governance, institutional, management and financial reforms to improve essential services, enabled by a new performance-based grant. The National Treasury is also working closely with the Water Partnerships Office to identify opportunities for private sector participation, such as non-revenue water projects. Non-revenue water refers to the revenue lost from leaking water infrastructure.

Elsewhere, the visa system has been reformed by the Department of Home Affairs to attract skills and boost tourism while the rollout of 5G infrastructure has tapered data costs, expanded connectivity and improved access to network services. – SAnews.gov.za

NeoB
Wed, 10/30/2024 - 14:46

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Read moreGovernment to launch next phase of Operation Vulindlela

Eskom to Approach High Court to Review Decision by Nersa to Grant Trading Licenses in Its Area of Supply as It Breaches Regulators Own Rules

Location: Business

Wednesday, 30 October 2024: Eskom has expressed concern over the recent decision by the National Energy Regulator of South Africa (NERSA) to grant trading licenses to multiple applicants, despite Eskom’s objections to allowing more than one licensee to provide electricity in the same area. The trading licences were approved without the necessary trading rules for...

Read moreEskom to Approach High Court to Review Decision by Nersa to Grant Trading Licenses in Its Area of Supply as It Breaches Regulators Own Rules

Afreximbank Calls for Increased Collaboration to Accelerate the Green Energy Transition in Africa

Location: News
Afreximbank

The eighth Babacar Ndiaye Lecture held at the Four Seasons Hotel in Washington D.C., on 26 October 2024, under-scored the need for African nations to strike a balance between short-term development imperatives and long-term climate goals. 

Under the theme “Saving Lives Today versus Saving the Planet for the Future: Can the AfCFTA Resolve the Climate Change Dilemma” discussions centred on how the African Continental Free Trade Area (AfCFTA), Africa's most ambitious trade initiative, could serve as a vehicle for economic growth and environmental sustainability, positioning the continent as a leader in the global green transition.  

The Lecture drew a distinguished audience of policymakers, academics, financial experts and climate advocates.  

Speaking about Dr. Babacar Ndiaye in his opening remarks, H.E. Professor Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank Group, said “Dr Babacar Ndiaye was most concerned by the long-term threats posed to humanity by climate change. He once said, "Climate change is the greatest threat to development, particularly in Africa, where millions of people depend on the environment for their livelihoods … Africa's economic transformation cannot happen without addressing climate change.”  

Dr. Ndiaye's reflection on the impact of climate change was spot-on and intellectually deep.” But, “disappointingly, the global debate on climate has been so much focused on emissions reduction with the question of reducing its impact on Africa and other developing countries always reduced to a footnote. A call for Africa to decarbonise, when the continent has not even carbonised, poses a serious threat to the socio-economic development of a gas-rich continent that has at least six hundred million people without electricity.” 

The African Continental Free Trade Area Agreement “is seen as a potent means of reducing carbon emissions as it is helping to domesticate industrial activities and minimise the carbon emissions caused by shipping of commodities to far-away lands for value addition and reshipping to Africa and elsewhere. We believe that The AfCFTA could offer a pathway to a just transition, enabling local industrial value addition while protecting the planet.”  

Professor Yemi Osinbajo, SAN, GCON, the Immediate Past Vice President of the Federal Republic of Nigeria, delivered a powerful address titled “Sustainable Infrastructure for Africa's Future: Harnessing Innovation and Partnerships.” He spoke passionately about the advantages of the AfCFTA and its potential to transform Africa's trade landscape, reduce carbon emissions and foster innovation in green industries. 

“There are two obvious advantages to a fully operational AfCFTA.The first is that 42% of African countries, aside from North Africa, now have legislation prohibiting the export of raw ores or minerals before being processed. This legislation gives African countries the benefit of jobs and revenues from local processing and manufacturing.  

“The second advantage of the AfCFTA is that shipping is a major source of carbon emissions. Under current trade practices, a large share of African raw materials are exported to other regions, where they are processed or manufactured into finished products, usually using fossil fuel power sources, before being shipped back to Africa for consumption. This cycle contributes to higher emissions and constitutes a loss for African countries that do not reap the value chain gain from beneficiation. Intra-African trade in finished goods will substantially reduce this massive cause of global emissions,” he said. 

The reduction of emissions by intra-African trade has been the subject of several empirical studies. Professor Osinbajo referred to a recent ECA/ CEPII study titled “Greening the African Continental Free Trade Area Agreement's Implementation" published in December 2023, which found, inter alia, that implementing the AfCFTA can boost intra-African trade by 35% in 2045 while increasing GHG emissions by less than 1%, compared to no AfCFTA or climate policies.  

These studies do not factor in using renewable energy sources in the processing and manufacturing of traded goods, an assumption of the Climate Positive Growth paradigm, which would again substantially reduce emissions.  

Professor Osinbajo cited mining bauxite in Guinea as an example. If Guinea, which has 25% of global deposits of bauxite, processed the bauxite it mines to aluminium with renewable energy in readiness for export, Guinea could save the world 335 million tonnes of carbon dioxide equivalent (CO2e) per year, which is approximately 1% of global emissions, and create 280,000 jobs and generate $37 billion of additional revenue. If it chooses to sell the aluminium within Africa, it will again save the huge shipping cost to countries thousands of miles away.  

A Bloomberg study done for the African Development Bank (AfDB) in 2021 on the manufacture of battery precursors found that manufacturing battery precursors in the Democratic Republic of the Congo (DRC), which has plenty of lithium and cobalt, is three times cheaper than manufacturing it in the US, EU and China. Manufacturing in the DRC would extend value chain opportunities to other African countries, they would need manganese from Zambia, Tanzania, Gabon and South Africa to contribute to its capacity to produce these battery precursors. Manufacturing using renewable energy could significantly reduce the cost of manufacturing. Africa's abundant renewable energy has very low seasonality or intermittency, making it possible to reliably provide a renewable baseload to power continuous industrial production.  

“The AfCFTA empowers African countries first to add value to materials and specialise in areas of national comparative advantage, and also to work together to trade more beneficially with the rest of the world,” said Prof Osinbajo. 

He futher said that “Most African countries depend on fossil fuels for their energy needs and for fossil fuel rich African countries, this is also a major source of export earnings and fiscal revenues. Ostensibly in keeping with their net zero obligations, there has been a growing trend amongst development finance institutions to withdraw from fossil fuel investment. These actions include the World Bank's decision to cease funding for upstream oil and gas development in Africa and the restrictions on financing downstream gas development by the European Union, the United Kingdom, and the United States. Clearly, the implications of these actions are dire, where there are no immediate alternative sources of power and the cost of the transition to cleaner fuels may be prohibitive. Some studies show that divesting from fossil fuels could reduce GDP by as much as USD$30 billion for Nigeria, USD$22 billion for Algeria, and USD$19.3 billion for Angola.” 

H.E. Dr Rania A Al-Mashat, Minister for Planning, Economic Development and International Co-operation, Arab Republic of Egypt said that while the “African continent is the least responsible for carbon emissions, it has the biggest burden in terms of financing climate change for developmental needs - such as food and water security, and access to energy. 

She called for greater collaboration with national and international stakeholders “We need to work together; we need to bring the experiences from other places so that Africa can push forward with respect to development and sustainable economic growth.” 

In her Goodwill Message, Ms. Amina J. Mohammed, Deputy Secretary-General of the United Nations and Chair of the United Nations Sustainable Development Group, spoke about the rapidly closing window to prevent the worst impacts of climate change. She addressed the fact that many African countries are mired in debt, exacerbated by extended crises with little access to long-term concessional financing to invest in sustainable development. 

“With adequate access to financial resources at a reasonable cost, renewables can dramatically boost economies, grow new industries, create jobs and drive development, including by reaching the over 600 million Africans living without access to power,” said Ms Mohammed. 

She also stressed the importance of prioritising inclusive policies that empower women and youth when building climate-resilient economies.  

“By harnessing the collective might of the AfCFTA, Africa can make strides in addressing both climate action and sustainable development by promoting regional integration and fostering green industrialisation.  

“The AfCFTA can help build climate-resilient economies while creating jobs, reducing poverty and strengthening food security.”  

The eighth Babacar Ndiaye Lecture also reinforced Afreximbank's commitment to leadership in financing sustainable infrastructure and trade policies across the continent. 

Distributed by APO Group on behalf of Afreximbank.

Media Contact: 
Vincent Musumba 
Communications and Events Manager (Media Relations) 
Email: press@afreximbank.com 

For more information, visit: www.Afreximbank.com  
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About the Babacar Ndiaye Lecture 
The Babacar Ndiaye Lecture is an annual event designed to foster dialogue around Africa's development challenges and explore practical solutions through policy, trade and diplomacy.  

The Lecture honours Babacar Ndiaye, a former President of the African Development Bank, for his visionary leadership in advancing Africa's economic growth. 

Afreximbank has hosted this Lecture every year since 2017 in honour of the late Dr. Babacar Ndiaye, the fifth President of the African Development Bank. Dr. Ndiaye transformed the Bank during his decade-long leadership and was also instrumental in establishing several other enduring Pan-African institutions, including Afreximbank, Shelter Afrique and the African Business Roundtable. 

About Afreximbank 
African Export-Import Bank (Afreximbank) is a Pan-African multilateral financial institution mandated to finance, facilitate and promote intra and extra-African trade. For over 30 years, the Bank has been deploying innovative instruments to deliver financing solutions that support the transformation of the structure of Africa's trade, accelerating industrialisation and intra-regional trade, thereby boosting economic expansion in Africa. A stalwart supporter of the African Continental Free Trade Area (AfCFTA), Afreximbank has in partnership with the African Union Commission and the AfCFTA Secretariat launched the Pan-African Payment and Settlement System (PAPSS) that was adopted by the African Union (AU) as the payment and settlement platform to underpin the implementation of the AfCFTA agreement. The AfCFTA Secretariat and the Bank have created a US$10 billion Adjustment Fund to support countries to effectively participate in the AfCFTA.  

At the end of December 2023, Afreximbank's total assets and guarantees stood at over US$37.3 billion, and its shareholder funds amounted to US$6.1 billion. Afreximbank has investment grade ratings assigned by GCR (international scale) (A), Moody's (Baa1), Japan Credit Rating Agency (JCR) (A-) and Fitch (BBB). Afreximbank has evolved into a group entity comprising the Bank, its impact fund subsidiary the Fund for Export Development Africa (FEDA), and its insurance management subsidiary, AfrexInsure, (together, “the Group”). The Bank is headquartered in Cairo, Egypt.  

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Revenue from tax collection to be lower than expected

Location: News

Revenue from tax collection to be lower than expected

Revenue from tax collection in 2024/25 is expected to be down by R22.3 billion from National Treasury’s estimations made in February this year.

This according to Finance Minister Enoch Godongwana who delivered the Medium Term Budget Policy Statement (MTBPS) speech in Parliament on Wednesday.

“Over the next two years, the main budget revenue estimate has also been lowered by R31.2 billion. In the absence of faster growth and in the face of external risks, tax revenue will remain under pressure, forcing us to make difficult decisions on where to spend.

“Lower revenue also means that we cannot, within the envelope, accommodate all of the demands on the fiscus. Difficult trade-offs, in all spheres of government, will have to be made.

“By sticking to our debt-reducing strategy and confronting these trade-offs, we can create the necessary conditions for a fast-growing economy that facilitates employment,” he said.

In the expanded MTBPS, National Treasury said it projects that SARS will collect some R2.3 trillion in tax by 2027/28.

“The tax-to-GDP [gross domestic product] ratio remains resilient and tax collections are expected to remain buoyant over the medium term. Tax revenues are projected to increase to R2.3 trillion, or 24.8% of GDP by 2027/28. Tax buoyancy increases to average 1.08 over the medium term, up from 0.95 in the current year,” the MTBPs stated.

Despite this, revenue collection is expected to decrease over the next few years.

“However, compared with the estimates set out in the 2024 Budget Review, which reflected a high level of energy imports, gross revenue collection is projected to fall short by R41.4 billion in 2025/26 and 2026/27. Improved tax revenues will require more sustainable economic growth and further gains in tax compliance and tax administration,” Treasury said.

Due to improved profitability outlook, the department said it expects corporate tax collections to rise over the next few years.

“However, slower renewable energy related imports associated with stabilising power supply have weakened import growth, resulting in lower import VAT collections. 

“Together with continued strong growth in VAT refund payments, net VAT collections are projected to fall short of 2024 Budget estimates. Under-collections in fuel levy receipts relative to 2024 Budget estimates flow through to the outer years,” the MTBPS said. – SAnews.gov.za

NeoB
Wed, 10/30/2024 - 14:49

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NLC strategy to be implemented over a six-year period

Location: News

NLC strategy to be implemented over a six-year period

The National Lotteries Commission (NLC) says its organisational turnaround strategy is under way and will be fully implemented over a six-year period. 

The strategy includes modernisation and streamlining processes, stronger oversight mechanisms and built-in fraud prevention.

Addressing the media in Pretoria on Tuesday afternoon, NLC Commissioner Jodi Scholtz said they have been working hard on the strategy.

“We have worked diligently to respond to the frustrations of our stakeholders around the long wait for funding, while ensuring that we build fraud-prevention into our processes, increase the efficiency and enhance the impact of our work through the development of a new grant application and management system,” said Scholtz.

Scholtz announced the readiness of the commission’s reparative measures programme to address harm caused to individuals and communities by previous actions of maladministration and to rehabilitate the identified community infrastructure projects to their intended state.

While the interactions with the affected parties would largely be behind closed doors, she said, a commitment was made to share milestones of the reparative measures publicly, with an emphasis that each community infrastructure project would be addressed based on the Special Investigative Unit (SIU) report, community engagement and other relevant reports.

The SIU was, in terms of Proclamation R32 of 2020, authorised by President Cyril Ramaphosa to investigate allegations of corruption and maladministration in the affairs of NLC and the conduct of NLC officials and to recover any financial losses suffered by the State.

The SIU said in February it had made eight criminal referrals to the National Prosecuting Unit and 11 disciplinary referrals to NLC officials.

The unit said the investigation in its totality is worth approximately R1.4 billion, which the State and the NLC have allegedly lost due to corruption at the organisation.

Grant funding processes

Scholtz touched on continuing enhancements to its grant funding processes aimed at increasing efficiencies and improving the service experience of applicants and grantees.

This was alongside continuing engagements with the Department of Trade, Industry and Competition (the dtic) to facilitate the appointment of additional members for the Distributing Agencies in order to increase the pace of adjudications.

With the Call for Applications for 2024/25 intended to open at the tail end of 2024, the NLC announced the revival of Section 2A(3) of the Lotteries Act following the 2022 moratorium on what was then known as Proactive Funding.

Now renamed Research-Based Funding (RBF), and with a strengthened policy that ensures transparency at all stages that will mitigate the internal control deficiencies that existed under Proactive Funding, the RBF is to be launched with two critical programmes aimed at addressing pressing societal needs in South Africa - food security and primary health care. 

The Eastern Cape province will serve as a pilot province.

Scholtz noted that while the Request for Proposals for the appointment of the Fourth National Lottery Operator was the subject of much interest, engagement with the public and media in that regard would only take place once the process had been concluded in its entirety by Trade, Industry and Competition Minister Parks Tau.

“Our journey to restore trust and achieve operational excellence is just that – a journey and it requires agility. We have started from within, and the team’s dedication to our turnaround has been commendable so far. 

“We know that we have much to do, and notwithstanding the challenges we face, we are committed to achieving what we have set out to do.

“The work is gaining momentum, and we fully intend to maintain it. We are delighted at the determination and positive energy of the team at the NLC,” Scholtz said. – SAnews.gov.za

Edwin
Tue, 10/29/2024 - 15:26

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One Week to Go Until Investors Unite at AEW

Location: News
African Energy Chamber

The largest gathering of energy stakeholders on the African continent is gearing up to welcome global and African energy stakeholders for five days of dialogue and deals. African Energy Week (AEW): Invest in African Energy 2024 – dubbed the premier event for the African energy sector – will take place from November 4-8 in Cape Town, South Africa. The foremost platform to sign deals and further the agenda towards making energy poverty history by 2030, the conference will feature seven stages, including five content stages, two technical hubs and a full day of pre-event workshops.

With over 125 million barrels of proven oil reserves, 620 trillion cubic feet of natural gas and abundant opportunities in solar, wind and green hydrogen, Africa has the potential to become a global hub for energy. African energy demand is projected to more than double by 2050, with fossil fuels anticipated to account for up to 60% of the continent's energy mix by 2040. As such, this year's conference promises to drive a new wave of investment across the African energy sector, with industry experts and thought-leaders, African governments and national oil companies (NOCs), and energy investors leading discussions on the challenges and opportunities found on the continent.

AEW: Invest in African Energy is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit www.AECWeek.com for more information about this exciting event.

Africa's energy industry is both the backbone of the continent's economy and a catalyst for sustainable growth worldwide. As such, the AEW: Invest in African Energy 2024 conference will feature a series of pre-event interactive workshops, providing an opportunity for companies to share in-depth knowledge and exchange ideas with a targeted group of delegates. The workshops, hosted by companies such as Rystad Energy, NCDMB, CLG, Energeo Alliance and S&P Global Commodity Insights, will cover various topics including energizing Africa amid the global energy transition; legislative and regulatory context for promoting investment in exploration; and facilitating investments and mergers and acquisitions across the continent.

A high-level opening ceremony will kick off at the Cape Town International Convention Center (CTICC) on the first day of the event. The opening ceremony will feature addresses from Angola's Minister of Mineral Resources and Petroleum Diamantino Azevedo and South Africa's Minister of Electricity and Energy Kgosientsho Ramokgopa, and discussions with the likes of Dr. Omar Farouk, Secretary General of the African Petroleum Producers' Organization and Chairman and CEO of upstream oil company Kosmos Energy Andy Inglis. The AEW: Invest in African Energy 2024 opening will kick off a week of intense dialogue on the future of the African energy industry. The opening will also feature a number of panel discussions focusing on the vital role Africa plays in addressing global energy security, as well as keynote addresses from the heads of some of the largest energy companies in the world.

Representing the entire energy value chain from oil and gas to renewable energy to power and infrastructure, AEW: Invest in African Energy 2024 will feature a massive slate of regional ministers with the aim of unpacking the continent's strategies to make energy poverty history by 2030. Ministers from Libya and Algeria are poised to showcase North Africa's ambitious production targets while aiming to plug Europe's energy gap and enhance domestic energy access. Southern Africa's ripe opportunities in energy and mining will be put on display by ministers from Mozambique, Angola, South Africa, Zambia and Namibia while West African ministers from the MSGBC region, Nigeria, Ghana and Burkina Faso will provide updates on ongoing projects. With major producers such as Equatorial Guinea, Gabon and the Republic of the Congo (ROC) inviting investors to support diversification efforts in production and refining, regional ministers from Central Africa will share insight into available opportunities in oil and gas, mining and infrastructure. Meanwhile, as a frontier market, East Africa is incentivizing exploration in both on- and offshore basins while driving infrastructure and field development projects forward and will be represented by energy and mining ministers from Ethiopia, Uganda, and South Sudan.

Africa is accelerating the pace of upstream projects with the aim of boosting production and intra-African petroleum distribution. Across both mature and emerging hydrocarbon markets, investment opportunities continue to emerge, and as such, AEW: Invest in African Energy 2024 will feature a strong lineup of VIP speakers from energy supermajors Eni, bp, Chevron and TotalEnergies. The event will also feature representatives from some of the continent's most important energy players including Azule Energy, ReconAfrica, Etu Energias, Africa Oil Corp., Wood Mackenzie and Adarco Energy, among many more. The oil industries of African countries will be represented by NOCs from Angola, Namibia, South Africa, Tanzania, Uganda, among others.

With two technical hubs on the exhibition floor of the CTICC, the conference serves as a prime platform for companies to provide presentations on various industry-leading technical themes. The AEW: Invest in African Energy 2024 technical track features a dedicated stage for asset owners, engineers and technology innovators to present projects, provide deep insights into cutting-edge solutions, and share best practices to foster knowledge. Attendees will gain valuable insights into the future of energy and learn about ground-breaking projects while discovering new opportunities for collaboration and investment. An exclusive exhibition-only pass grants delegates access to both the innovative exhibition floor and the technical track.

Rounding off AEW: Invest in African Energy 2024's strong program, a series of technical excursions and site visits across Cape Town offer participants the unique opportunity to gain insight into ongoing projects and developments in South Africa. A guided tour of the Hydrogen Project at the University of the Western Cape will focus on industry technology and development. The tour will also take delegates to the South African Renewable Energy Technology Center at the Cape Peninsula University of Technology, which stands as the country's inaugural sustainable energy development technology facility. The excursion will feature a tour of the Atlantis Special Economic Zone, which stands as a promising landmark in Africa's energy landscape while showcasing advancements in sustainable energy solutions, economic development and innovation. Rounding off the site visits, the tour will also take participants to the Eskom Palmiet Power Station, a hydroelectric pumped storage facility that plays a key role in stabilizing the national power grid.

“AEW 2024 stands at the center of African energy and provides an unparalleled platform to forge partnerships, share knowledge and drive progress in the continent's energy sector. It is our collective responsibility to prioritize energy poverty alleviation and sustainable development, ensuring a brighter future for all Africans. We look very much forward to kicking off this exciting event and welcoming hundreds of delegates from all over the world to drive Africa's energy needs,” states NJ Ayuk, Executive Chairman of the African Energy Chamber.

During the AEW: Invest in African Energy 2024 conference, delegates will be exposed to project updates, industry highlights, investment opportunities and strategies that address the continent's goals for eradicating energy poverty and promoting environmental sustainability. With one week to go, the conference is already stacking up to become the foremost energy event of its kind once again on the African continent.

Distributed by APO Group on behalf of African Energy Chamber.

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Government activities for the week 28 October – 01 November 2024

Location: News

Government activities for the week 28 October – 01 November 2024

On Monday, 28 October, the Minister of Public Works and Infrastructure, Dean Macpherson, will launch an Expanded Public Works Programme (EPWP) listening tour in Gqeberha, Eastern Cape.

Also on Monday, Deputy Minister in the Presidency, Nonceba Mhauli to deliver an address at the UNDP Just Energy Transition and youth employment roundtable discussion.

On Tuesday, 29 October, Minister of Tourism, Patricia de Lille, will officially launch the Summer Campaign in Bloemfontein at the De Oude Kraal Country Estate, N1 South Bloemfontein.

Also on Tuesday, the Presidential Climate Commission in conjunction with the Department of Water and Sanitation will host a high-level 3 Sector Climate Adaptation Readiness in South Africa’s Water Value Chain Workshop in Pretoria.

On Wednesday, 30 October, Minister of Finance, Enoch Godongwana will present the 2024 Medium Term Budget Policy Statement (“2024 MTBPS”) to Parliament.

On Thursday, 31 October, no confirmed events.

On Friday, 01 November, no confirmed events.

 

Neo
Mon, 10/28/2024 - 11:02

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World-Renowned Artists, Athletes, Musicians, and Advocates to Join the Earthshot Prize in South Africa for a Week of Environmental Action Spotlighting African Innovation

Location: News
MultiChoice Group

Nomzamo Mbatha will serve as host of Earthshot Week, welcoming global leaders, innovators, entrepreneurs, and young people from around the world to Cape Town for a series of events focused on accelerating environmental solutions

Hosted by Billy Porter and Bonang Matheba, the fourth-annual Earthshot Prize Awards will feature special appearances from Davido, Diamond Platnumz, Heidi Klum, Lebo M, Ndlovu Youth Choir, Nina Dobrev, Robert Irwin, Tobe Nwigwe, Uncle Waffles, Winnie Harlow, and more

The Awards ceremony will reveal the five Winners of a £1 million prize and will be available to watch globally, including in 50 markets across the African continent

Some of the world's most influential artists, athletes, musicians, and advocates will join The Earthshot Prize (www.EarthshotPrize.org) in Cape Town, South Africa this November to spotlight inspiring environmental solutions to repair and regenerate the planet.

From 4–7 November, Earthshot Week will celebrate this year's 15 Earthshot Prize Finalists (https://apo-opa.co/3YFl83f) from across the globe and highlight the growth of inspiring climate innovations across the African continent. The week will culminate with the annual Earthshot Prize Awards on 6 November, where five of the 2024 Earthshot Prize Finalists will each win a £1 million award to help grow their impact and support efforts to speed their solutions to scale.

Actor, humanitarian, and Earthshot Global Ambassador Nomzamo Mbatha will serve as the official host for Earthshot Week. She will be joined by fellow Earthshot Global Ambassador and Australian conservationist and wildlife photographer Robert Irwin across a series of thought leadership events and high-level dialogues, bringing  current and former Earthshot Prize Finalists together with influential environmental champions who can support and accelerate their scaling journeys.

The fourth-annual Earthshot Prize Awards will be hosted by Emmy, Grammy, and Tony Award winner Billy Porter and award-winning television presenter Bonang Matheba. The night will include extraordinary storytelling and musical performances to celebrate the work of global environmental innovators and spotlight the creativity and innovation across African countries.

In addition to featuring the stories of The Earthshot Prize Finalists and Winners, the broadcast will include special performances and appearances from exciting musical artists and celebrities across East, West, Northern, Southern, and South Africa, as well as a host of international stars, including Grammy nominated artist and producer Davido, award-winning, internationally renowned artist Diamond Platnumz, Tony Award nominee and Grammy Award Winner Lebo M, supported by the internationally acclaimed Ndlovu Youth Choir, and international headlining DJ and producer Uncle Waffles.

Supermodel and television host Heidi Klum, actor and activist Nina Dobrev, multi-hyphenate artist and actor Tobe Nwigwe, and supermodel and beauty entrepreneur Winnie Harlow will join the broadcast to announce the five Prize Winners from each Earthshot category, which correspond to critical environmental goals we must meet within this decade. The five ‘Earthshots' are: Protect and Restore Nature, Clean Our Air, Revive Our Oceans, Build A Waste-Free World, and Fix Our Climate.

“I can't wait to once again be part of Earthshot Week, this time as host and an Earthshot Global Ambassador. The Earthshot Prize continues to bring its message of urgent optimism to a global audience and reminds us all, especially young people, that we can be part of creating a healthier, more prosperous future for our communities. There are so many inspiring Earthshot innovators who are dedicating their lives to repairing our planet, and I can't wait to help share their stories,” said Nomzamo Mbatha.

“It's an honor to co-host this year's Earthshot Prize Awards and help to celebrate this year's inspiring innovators working to create a better future for everyone. I'm so inspired by the Earthshot community, and I can't wait to be part of an evening that celebrates creativity, human ingenuity, and artistry in all its different forms,” said Billy Porter.

“It's a privilege to co-host The Earthshot Prize Awards. I am excited to celebrate these incredible innovators who are making a significant impact on our planet, as well as highlight the vibrant spirit, resilience, and unwavering commitment of environmental leaders across Africa and from around the world,” said Bonang Matheba.

Reaching millions of viewers, The Earthshot Prize Awards will broadcast in 50 markets across the African continent with the support of Global Alliance Partner MultiChoice and be available live globally through a special partnership with YouTube.

A special live green carpet pre-show, hosted by media personality Ebuka Obi-Uchendu and rapper and TV presenter Moozlie will also be livestreamed globally via The Earthshot Prize's YouTube channel.

 “Our Annual Global Awards are designed with intentionality, aiming to breakthrough into youth and mainstream culture, and to become a once-a-year ‘date in the calendar' for infusing urgent optimism into the global environmental narrative. Together with partners from the arts, entertainment, sport and music, we are united with one aim: By showcasing Earthshot Winners and Finalists, can we spark young people's imaginations and invite them to imagine a future in which they too could become an Earthshot winner?” said Hannah Jones, CEO, The Earthshot Prize.

Elias Masilela, MultiChoice Group Chairman, said, “MultiChoice is happy to partner once again with The Earthshot Prize to uplift the voices and stories of innovators from across Africa and around the world. With our extensive reach across more than 50 countries and millions of households, we recognize the profound impact we can make to share The Earthshot Prize's message of urgent optimism. With more than 400 African-based solutions nominated this year, it's an honor to help amplify the innovation happening across Africa's communities and be part of this evening that empower youth, innovators, and dreamers to bring about the sustainable, healthy future we deserve. After all, we sit in the fastest warming region of the world. So, we do not have the luxury of deciding whether we save the world or not. It is imperative for us.”

Founded by Prince William in 2020, The Earthshot Prize has become a powerful global search engine unearthing the best environmental solutions and a platform for impact to catalyze critical investment and resources towards these solutions. 60 environmental solutions have been honored as Prize Finalists and Winners since 2020, and more than 2,500 solutions have been introduced to Earthshot through our network of more than 400 Official Nominators. The Prize has also helped unlock more than £75 million in direct and in-kind support for these solutions, with ambitions to continue growing our ability to drive investment and support for emerging solutions.

Both Finalists and Winners receive dedicated mentorship, resources and technical support to help accelerate the growth of their solution during the year-long Earthshot Prize Fellowship Programme. The Programme includes access to the Prize's robust network of influential businesses, investors and climate experts, including The Earthshot Prize's Global Alliance of Partners, comprised of some of the world's largest businesses, donors, investors and environmental organizations committed to climate action.

Distributed by APO Group on behalf of MultiChoice Group.

NOTES FOR EDITORS:
Additional Presenter and Performer Quotes:
Davido said, "Our planet is precious and deserves to be protected. I'm excited to be part of this night of music and storytelling to bring awareness to the amazing work innovators across the globe, especially those from countries across Africa, are doing to protect our planet. I can't wait to help tell their stories and help put on a great show in support of protecting our planet."

Diamond Platnumz said, "I am honored to be a part of the 2024 Earthshot Prize annual Celebration in Cape Town, South Africa. By lending my voice, talents and platform, I join together in celebrating global champions, working hard to save our planet. Congratulations to all Finalists & Winners of the Earthshot Prize 2024. We look forward to working together in making our planet a better & safer place for generations to come."

Heidi Klum said, “As someone who uses my platform to advocate for a better future for our children, I am deeply inspired by The Earthshot Prize's ambition to find and support solutions for a healthy planet. I am so happy to be a part of the incredible evening the Earthshot Awards has in store to celebrate innovators and encourage our youth to be part of building a better future.”

Lebo M said, “I am honored to perform with the Ndlovu Youth Choir at the Earthshot Prize Awards to celebrate the innovation and optimism of the entrepreneurs and creators gathered in Cape Town who are progressing solutions for a sustainable future. I can't wait for audiences to see our show-stopping performance and learn more about the Earthshot Prize Winners and Finalists who are dedicating their lives to repairing and regenerating our shared home.”

Nina Dobrev said, “As someone who cares deeply about the health of our oceans, I have been so inspired to see the Earthshot Prize focus on identifying solutions across Africa and around the world that will help ensure these vital ecosystems are protected for generations to come. It is a privilege to be a part of this inspiring evening and I'm thrilled to present one of these inspiring innovators with this Award to help them move their vital work forward.”

Robert Irwin said, “Alongside my family, I have dedicated my life to conservation. I am beyond proud to be an Earthshot Global Ambassador and to help progress its urgent and ambitious approach to finding the most innovative solutions to the world's biggest environmental challenges. The Earthshot Prize is one of my favorite moments to celebrate these innovations every year, and I am very excited to help bring this year's Earthshot Week to life in Cape Town.”

Tobe Nwigwe said, “My purpose is to be a conduit to the realization of purpose in other people's lives, in whatever vehicle God would have me in from music to film to fashion. I'm honored to take part in this year's Earthshot Prize Awards to share the stories of people moving in purpose every day to change the world. This will be a monuMINTal evening bringing The Earthshot Prize's message to a global audience across Africa and around the world.”

Uncle Waffles said, “It is an honor and a pleasure to perform at this year's 2024 Earthshot Prize Awards and to share my music with audiences tuning in from all over the continent and around the world. This year's ceremony is part of a weeklong celebration of the power of youth, and I am glad to be part of this incredible week of inspiring stories of hope and optimism for the future.”

Follow The Earthshot Prize on:  
Instagram: http://apo-opa.co/3YqWLVw
Twitter: http://apo-opa.co/3BYNP29
LinkedIn: http://apo-opa.co/4eZvRv7
Facebook: http://apo-opa.co/3YElE1c
YouTube: http://apo-opa.co/3YQcuPD 
TikTok: http://apo-opa.co/3YFKii8

About The Earthshot Prize:
Founded by Prince William and incubated in the The Royal Foundation in 2020 for a year before becoming an independent platform/organization, The Earthshot Prize is a global environmental prize and platform designed to discover, accelerate and scale ground-breaking solutions to repair and regenerate the planet. Inspired by President John F. Kennedy's Moonshot, which united millions of people around the goal of reaching the moon, The Earthshot Prize aims to catalyse an Earthshot challenge to urgently encourage and scale innovative solutions that can help put the world firmly on a trajectory towards a stable climate, where communities, oceans and biodiversity thrive in harmony by 2030. The five challenges are: Protect and Restore Nature; Clean Our Air; Revive Our Oceans; Build a Waste-Free World; and Fix Our Climate.

The Prize aims to turn the current pessimism surrounding environmental issues into optimism by championing inspiring leadership and helping to scale incredible cutting-edge solutions. It will discover 50 winners over 10 years with the power to repair the planet. More than an award, The Earthshot Prize works in partnership with a Global Alliance of Partners to support the scaling of the solutions discovered and selected each year.

The Global Alliance Founding Partners are a group of leading global organizations and philanthropists, which act as strategic funding partners to the Prize, including Aga Khan Development Network, Bezos Earth Fund, Bloomberg Philanthropies, Breakthrough Energy Foundation, Coleman Family Ventures, DP World in partnership with Dubai EXPO 2020, Eleven Eleven Foundation, Giving Grousbeck Fazzalari, Holch Povlsen Foundation, Jack Ma Foundation, Law Family Charitable Foundation, Mastercard Center for Inclusive Growth, Marc and Lynne Benioff, Paul G. Allen Family Foundation, Rob Walton Foundation, Sandy and Paul Edgerley, Standard Chartered Bank, Temasek Trust, and Uber.

Global Alliance Partners are non-profit environment and sustainable development organizations that bring expertise, global reach and serve as nominating organizations each year. For a full list of our Global Alliance Partners, visit: http://apo-opa.co/3YFzdO2.

Global Alliance Members are some of the world's largest and most influential companies and brands that will support The Earthshot Prize, implement ambitious changes within their businesses and accelerate the advancement of the solutions of Prize Finalists and Winners. They are Arup, Bloomberg L.P., Deloitte, Herbert Smith Freehills, Hitachi, Ingka Group (IKEA), Microsoft, The Multichoice Group, Natura &Co, Safaricom, Salesforce, Unilever, Vodacom Group, and Walmart.

For more information about The Earthshot Prize, visit: www.EarthshotPrize.org.

       

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SA engages in global talks on protecting the ozone layer

Location: News

SA engages in global talks on protecting the ozone layer

The Deputy Minister of Forestry, Fisheries and the Environment, Bernice Swarts, will participate in the 36th Meeting of the Parties (MOP 36) to the Montreal Protocol on Substances that Deplete the Ozone Layer in Bangkok, Thailand, from Monday.

The Montreal Protocol is a global treaty established to protect the Earth's ozone layer by phasing out the production and consumption of ozone-depleting substances (ODS). 

The agreement, signed on 16 September 1987 and entering into force in 1989, has become a landmark in international environmental protection. 

“Despite its successes, some ODS replacements, known as hydrofluorocarbons (HFCs), have emerged as potent greenhouse gases, with some being over a thousand times more powerful than carbon dioxide in driving climate change.

“The 2016 Kigali Amendment to the Protocol introduced measures to reduce HFCs, with an anticipated avoidance of up to 0.4°C in global temperature rise by 2100, while still safeguarding the ozone layer.

"Key agenda topics for MOP 36 include life cycle refrigerant management, emissions of carbon tetrachloride, feedstock uses of controlled substances, and energy-efficient, low-global-warming-potential technologies.

“On 31 October, Swarts will deliver a statement during the high-level segment of the combined meetings of the Conference of the Parties to the Vienna Convention and the 35th Meeting of the Parties to the Montreal Protocol. 

"The segment will be chaired by the Presidents of both meetings and attended by representatives from the United Nations Environment Programme,” the Department of Forestry, Fisheries and the Environment said.

Swarts will participate in the 36th Meeting of the Parties (MOP 36) to the Montreal Protocol on Substances that Deplete the Ozone Layer in Bangkok, Thailand, from 28 October to 1 November 2024.

The Deputy Minister will also engage in bilateral meetings with counterparts from other countries to strengthen collaboration on phasing out ozone-depleting substances. 

She will also attend several side events on information sharing on the management of Ozone Depleting Substances and maximising the climate benefit. - SAnews.gov.za

nosihle
Mon, 10/28/2024 - 09:45

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SA to participate in the 36th Meeting of the Parties

Location: News

SA to participate in the 36th Meeting of the Parties

South Africa’s Deputy Minister of Forestry, Fisheries and the Environment, Bernice Swarts, will participate in the 36th Meeting of the Parties (MOP 36) to the Montreal Protocol on Substances that Deplete the Ozone Layer in Bangkok, Thailand.

The meeting is expected to start on Monday and end on Thursday.

The Montreal Protocol is a global treaty established to protect the earth's ozone layer by phasing out the production and consumption of ozone-depleting substances (ODS). 

The agreement, signed on 16 September 1987 and entering into force in 1989, has become a landmark in international environmental protection.

Despite its successes, some ODS replacements, known as hydrofluorocarbons (HFCs), have emerged as potent greenhouse gases, with some being over a thousand times more powerful than carbon dioxide in driving climate change.

The 2016 Kigali Amendment to the Protocol introduced measures to reduce HFCs, with an anticipated avoidance of up to 0.4°C in global temperature rise by 2100, while still safeguarding the ozone layer. 

Key agenda topics for MOP 36 include life cycle refrigerant management, emissions of carbon tetrachloride, feedstock uses of controlled substances and energy-efficient, low-global-warming-potential technologies.

On Wednesday, Deputy Minister Swarts will deliver a statement during the high-level segment of the combined meetings of the Conference of the Parties to the Vienna Convention and the 35th Meeting of the Parties to the Montreal Protocol. 

The segment will be chaired by the Presidents of both meetings and attended by representatives from the United Nations Environment Programme.

Deputy Minister Swarts will engage in bilateral meetings with counterparts from other countries to strengthen collaboration on phasing out ozone-depleting substances. 

She will also attend several side events on information sharing on the management of Ozone Depleting Substances and maximising the climate benefit. – SAnews.gov.za

 

Edwin
Sun, 10/27/2024 - 09:58

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Loadshedding Remains Suspended for 212 Days

Location: Business

Loadshedding remains suspended for 212 days: R12.32 billion saved in diesel year-on-year Friday, 25 October 2024: Eskom has successfully suspended loadshedding for 212 consecutive days since 26 March 2024. This significant achievement is attributed to the ongoing success of its Generation Recovery Plan, which has been instrumental in maintaining a stable power supply across South...

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SA well placed to be major hub in clean tech value chain

Location: News

SA well placed to be major hub in clean tech value chain

South Africa is well placed to become a hub for components and equipment manufacturing in the clean technology value chain, including battery technologies for energy storage, electric mobility, material handling and a range of other applications. 

This is according to the Deputy Minister of Trade, Industry and Competition, Andrew Whitfield, who addressed the opening of the R150 million Balancell state-of-the-art Gigafactory in Cape Town.

Balancell is a future-focused, innovative technology business that develops smart batteries designed to manage and protect themselves, and report their use and condition remotely.

“The South African government is working closely with the industry to identify opportunities to deepen the battery technology value chain and to position South Africa as a manufacturing hub on the African continent.

“A recent benchmarking study, supported by the World Bank Group, shows that South Africa is a competitive manufacturing destination, and offers a compelling value proposition for companies in this sector, as demonstrated here,” Whitfield said.

To support these ambitions, Whitfield said there was a number of policies and incentives in place that will enable the growth of this key sector. He said Cabinet has already approved the New Energy Vehicle White paper, setting out the objectives for this sector. 

“Being able to witness an investment from homegrown companies in this sector is truly inspiring. Balancell’s investment of R150 million in this factory is not only directly in line with the strategic priorities of the Government of National Unity, but also a demonstration of the innovative and entrepreneurial spirit that defines many South African businesses. 

“We are motivated by the company’s prospects for growth and further job creation in the coming years. The 75 existing jobs created in this [Gigafactory], supporting more than 1 500 indirect jobs, is a clear indication of the multiplier effect that can be achieved by strengthening and growing the manufacturing sector,” Whitfield said.

A Gigafactory is a huge factory that produces very large numbers of batteries for electric vehicles.

Whitfield highlighted the importance of building a strong base of skilled South Africans. 

“Expanding industry partnerships with leading universities and research institutions to enhance local research, development and testing of components is critical to the industry. I am, therefore, encouraged that you are already working with the Nelson Mandela and Stellenbosch Universities, as well as the Council for Scientific and Industrial Research,” the Deputy Minister said. 

He described the opening of the Gigafactory as an affirmation of the importance of building industrial capacity and working together to achieve the shared vision of South Africa being a global player in the battery value chain.

He further said the investment is an example of South African resilience, innovation and entrepreneurship. – SAnews.gov.za
 

Edwin
Fri, 10/25/2024 - 10:46

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Aew 2024 Partners to Drive Industry Engagement and Dealmaking in Cape Town

Location: Business
African Energy Chamber

The African Energy Week (AEW): Invest in African Energy conference returns for its 2024 edition from November 4-8 in Cape Town. Under a mandate to make energy poverty history by 2030, the event unites the entire value chain to forge a path towards an industrialized, electrified and sustainable energy future. This year's partners underscore both the high-level support the event has garnered as well as the caliber of AEW: Invest in African Energy as a premier platform to sign deals and foster engagement.

Hosted at the Cape Town International Convention Center, this year's event unites the entire industry from African governments and energy regulators to private project developers and technology providers to financiers and media under the theme Energy Growth Through an Enabling Environment. This year's Host Government Partner is South Africa's Department of Mineral Resources and Energy while the event's Official Partners are the African Petroleum Producers Organization and the African Export-Import Bank.

AEW: Invest in African Energy is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit http://www.AECWeek.com for more information about this exciting event.

AEW: Invest in African Energy offers a strategic platform for the industry to unite, foster partnerships and drive projects forward. Featuring a multi-track program, a high-level exhibition, a series of networking functions and technical workshops, the 2024 edition addresses the challenges and opportunities across the African energy market. The event's Strategic Partners will facilitate engagement and meetings. Strategic Partners include Roscongress; Energeo Alliance; the Petroleum Directorate of Sierra Leone; and the International Association of Oil & Gas Producers.

This year's event offers an expanded program, with sessions covering the entire value chain and associated sectors. To drive discussions and deals across the respective industries, specialized partners have joined the event. The event's Technical Partner is S&P Global Commodity Insights; Intelligence Partner is Rystad Energy; and Knowledge Partner is Wood Mackenzie. These partners will support knowledge-sharing while generating in-depth insights into the trends of the industry.

Additionally, as the African energy sector grows, the AEW: Invest in African Energy partners aim to support project development and investment across various segments of the value chain. The event's Energy Logistics Partner is Africa Global Logistics; Energy Efficiency Partner is the South African National Energy Development Institute; Legal Partner is CLG; and Geophysical Partner is TGS. Moreover, as the continent advances a just energy transition, the AEW: Invest in African Energy partners will support sustainable projects and collaborative in the clean energy sector. The event's Clean Energy Partner is Oando Clean Energy and Sustainable Energy Partner is TotalEnergies – both of which support a just transition in Africa.

Amid the growth of the energy sector, the industry is working closely with associations to ensure everyone benefits from industry expansion. AEW: Invest in African Energy promotes the increased participation of women and youth, strengthened local content and business support as well as investments in STEM-related programs. The event's partners align with this objective. AEW: Invest in African Energy's Local Content Partner is the Nigerian Content Development and Monitoring Board; Youth in Energy Partner is ExxonMobil; while the Women in Energy Partner is African Women Business Energy Network.

The AEW: Invest in African Energy 2024 Partners support dialogue and deals across various segments of the African and global value chain. Their partnership underscores a commitment to driving projects and engagement forward in the industry and will open new doors for collaboration and B2B networking. This year's Partners include World Nuclear Association; the African Green Hydrogen Alliance; AFSIA; AECIPA; Africa Energy Partners; the Nigerian Association of Petroleum Explorationists; World Liquid Gas Association; and OGTAN.

Meanwhile, offering discounted rates for delegates flying to Cape Town, the AEW: Invest in African Energy Airlines Partners support participation at this year's conference. Airline Partners include South Africa Airways; Ethiopian Airways; Lufthansa Group Airlines; and AirFrance. For more information on discounted rates, visit https://apo-opa.co/3YlFFbD.

“AEW: Invest in African Energy's strong partner lineup showcases a commitment by industry leaders to drive investment and development in African energy. Over the years AEW: Invest in African Energy has grown to become one of the biggest energy events in Africa, and with its partner, this year's conference promises to be even bigger and better than before,” states NJ Ayuk, Executive Chairman of the African Energy Chamber.

For more information about the AEW: Invest in African Energy partners, sponsors and speakers, visit www.AECWeek.com.

Distributed by APO Group on behalf of African Energy Chamber.

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FTSEZ Accelerates Industrialization in South Africa

Location: Business
African Energy Chamber

The Fetakgomo Tubatse Special Economic Zone (FTSEZ) in South Africa has joined the African Energy Week (AEW): Invest in African Energy conference – taking place November 4-8, 2024 - as a bronze sponsor. With a vision to become a globally-recognized center of excellence for sustainable solutions in mineral beneficiation, the FTSEZ integrates energy and mining projects to advance industrialization. AEW: Invest in African Energy 2024 supports this goal by offering a platform for dialogue and deal-signing.

The FTSEZ currently has 10 investment and development partners, with 8 projects in the pipeline. The Limpopo Department of Economic Development, Environment and Tourism allocated R35 million for the development of various projects as part of the industrial zone in the financial year 2021/2022, with the funding continuing to support project development. At AEW: Invest in African Energy 2024, representatives from the FTSEZ will outline project progress and future investment opportunities.

AEW: Invest in African Energy is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit http://www.AECWeek.com for more information about this exciting event.

The FTSEZ is a multi-faceted industrial hub that is poised to benefit over one million people in the Limpopo province of South Africa. As an industrial cluster, the zone integrates the upstream and downstream mineral value chains with associated energy projects, offering a centralized hub for mineral beneficiation. In the mining and mineral beneficiation sector, the FTSEZ comprises fuel cell plants, a platinum refinery, stainless steel magnetite processing plants as well as facilities to manufacture fabricated metal products. The industrial zone also features manufacturing facilities such as machinery, rubber products and mining equipment and components.

To support mining operations within the province, the FTSEZ is developing a pipeline of energy projects. Aimed at providing a clean and affordable source of power, these projects comprise solar, battery storage, biodiesel and hydrogen facilities. This diverse offering not only supports mining activities across the entire value chain but underscores how the integration of various sources of energy can support economic growth and industrialization in Africa.

Beyond energy projects, the FTSEZ features various water, road and rail projects. Completed projects include the R70 million Steelpoort Wastewater Treatment Works project and the R65 million Steelpoort Water Treatment project – the latter of which has plans to increase treatment capacity. Projects under construction include the R121 million upgrade to the Ga-Malekana Water Treatment facility; the R2 billion construction of the R37 and R555 main roads; the Steelpoort railway sliding development; the R1.6 million Regional External Master Plan; the R70 million Steel Bridge upgrade; and the SEZ human settlement scoping report. To date, the technical stage for the Ga-Malekana Water Treatment project has been approved.

“The development of industrial zones such as FTSEZ will not only provide a centralized location for mining operations in South Africa but integrate various other segments of the economy. FTSEZ is a testament to how merging key sectors such as energy, mining and agro-processing can drive economic growth and industrialization. By adopting similar development plans, other countries in Africa can fuel the development of various industries while creating jobs and boosting skills development,” states NJ Ayuk, Executive Chairman of the African Energy Chamber.

AEW: Invest in African Energy 2024 provides an opportunity for potential investors and project developers to engage with FTSEZ representatives. Through the zone's bronze sponsorship, FTSEZ will provide an overview of major projects, potential expansion opportunities and strategies for replicating the zone in other provinces.

Distributed by APO Group on behalf of African Energy Chamber.

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Africa urged to act now against climate change

Location: News

Africa urged to act now against climate change

With climate-driven events such as droughts and floods disrupting agricultural production across the continent, and leading to increasing food insecurity, government has called on the Southern African Development Community (SADC) to act now against climate change.

“To counter this, it is essential to promote sustainable agricultural practices, improve irrigation systems, invest in agricultural research and technology, and develop resilient crop varieties,” Deputy Minister of Forestry, Fisheries and the Environment, Narend Singh, said on Wednesday in Durban.

He pointed out that Africa’s reliance on natural resources, rain-fed agriculture, and inadequate infrastructure makes it particularly vulnerable to the impacts of climate change. 

The Deputy Minister was addressing the Environmental Assessment Practitioners Association of South Africa (EAPASA) Regional Conference, which is taking place under the theme: "SADC Sustainable  Synergies".

Singh said integrated environmental management and social tools provide a comprehensive framework for sustainable development, one that balances economic growth, environmental conservation and social equity. 

“This integrated approach is vital for addressing the many environmental challenges our continent faces, while simultaneously promoting inclusive growth and resilience. By embracing this method, we ensure that development is not only sustainable but also equitable, benefiting both present and future generations.

“The time to act is now. The environmental challenges we face do not respect borders or timelines, and every day we delay, the cost to our region and our people increases. 

“As we transition our key economic sectors towards low carbon, climate resilient and a just society, it is important that our strategic, integrated and environmental impact assessments pay attention to the balance in social, economic and environmental aspects of sustainable development path and ultimately the achievement of our Nationally Determined Contribution (NDC),” the Deputy Minister said.

He emphasised the importance of prioritising a sustainable just transition path that pays attention to addressing the challenges of poverty, unemployment and inequality.

South Africa’s just transition path

He said South Africa’s Just Energy Transition (JET) programme has emerged as a crucial response to the climate crisis, setting an ambitious course for the nation to shift away from coal, while building a low-carbon, climate-resilient economy. 

“The JET programme has already made strides in diversifying our energy mix by investing in renewable energy sectors such as solar, wind, and green hydrogen.

“We have closed some coal plants and retrained workers, ensuring that the transition is just and inclusive. This transformation is more than just an energy strategy; it is a fundamental reimagining of our future, one that presents profound opportunities for collaboration with SADC countries. 

“By working together on cross-border energy projects, technology sharing, and capacity building, we can build a united front that not only mitigates climate change but also spurs economic growth and energy security across the region,” the Deputy Minister said.

He touched on the significance of regional cooperation, which is essential in the quest to balance environmental sustainability with economic development. 

“This year marks six years since the Department of Forestry, Fisheries, and the Environment appointed EAPASA as the sole registration authority under Section 24H of the National Environmental Management Act (NEMA). 

“It is truly remarkable to witness how, in just six years, this young organization has successfully convened SADC members for the third time in such a short period. This achievement speaks to the tremendous commitment to our region and the greater cause of environmental stewardship.

“As we implement our individual laws and regulations, we must remain mindful that our true success will be measured by how well we collaborate. I urge you to envision the SADC region as a unified entity, one where our systems are integrated and harmonised to enable development that benefits not only our generation but those to come,” the Deputy Minister said. - SAnews.gov.za

nosihle
Wed, 10/23/2024 - 12:06

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South Africa, Russia set sights on expanded trade relations

Location: News

South Africa, Russia set sights on expanded trade relations

By Neo Bodumela

Kazan, Russia: Russian President Vladimir Putin says there are “promising spheres of cooperation” for Russia and South Africa to expand their trade relations.

President Putin was delivering remarks during the bilateral meeting between the two countries held on the sidelines of the BRICS Summit in Kazan, Russia. The meeting was also addressed by President Cyril Ramaphosa.

The BRICS Summit, held from 22 - 24 October, is a platform for the bloc's leaders to reflect on the status of mutually beneficial BRICS cooperation, regional and global economic and political developments, as well as global governance reform.

READ | SA, Russian Presidents meet ahead of significant BRICS Summit

“Trade and economic ties between Russia and the Republic of South Africa are generally positive. Following a brief dip, mutual trade volumes have started to increase, rising by 3% in January - August 2024.

“Of course, we need to work jointly on some aspects in order to expand and diversify mutual trade and investment. Promising spheres of cooperation include energy, industry, agriculture, science and innovation,” President Putin said.

He hailed the bilateral relations between South Africa and Russia as those based of “mutual respect”.

“The relevant agencies of our countries collaborated in the financial sector to expand the use of national currencies in mutual settlements and to create an independent payment system.

“Our bilateral relations are based on the principles of a comprehensive strategic partnership, equality and mutual respect. Our political dialogue is progressing, and our foreign policy departments and security councils are actively communicating. Interparliamentary cooperation has been established.

“Russia and the Republic of South Africa closely coordinate their efforts on the international stage to establish a fair multipolar world order,” he said.

On relations with the African continent, President Putin called for stronger relations between the European country and countries in Africa.

“Russia attaches special significance to strengthening relations with African countries. Collaborative work is underway to implement joint agreements approved at the Russia-Africa Summit in St Petersburg, notably a declaration and an action plan, until 2026.

“We look forward to hosting the head of your foreign policy agency in Sochi for the first ministerial conference of the Russia-Africa Partnership Forum, scheduled for November 9 – 10,” he said.

Turning to the Summit, President Putin said as host country, Russia has “built our work taking into account the results achieved at the Johannesburg summit”.

South Africa played host to the Summit in 2023.

This year, the leaders of Brazil, China, Egypt, Ethiopia, India, Iran, Russia, South Africa and the United Arab Emirates are meeting for the first time since new members were invited to join BRICS during the Johannesburg II BRICS Summit of 23 August 2023.

“Our focus has been on the seamless integration of new participants into the multi-level architecture of BRICS. In close contact with our South African friends, we have worked on coordinating the modalities for establishing the partner state status,” he said. – SAnews.gov.za

NeoB
Wed, 10/23/2024 - 09:31

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