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You are here: Home / Archives for global

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28 August 2024

Unlocking Global Investments

Location: MyPR

Introduction As global markets become increasingly accessible, investors and multinational corporations face the challenge of managing withholding taxes (WHT) and leveraging double tax treaties (DTTs). This essential guide delves into the intricacies of withholding tax, strategies for reclaiming it, and the pivotal role of double tax treaties in optimizing international investment returns.   What is …

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28 August 2024

Are Cramped Classrooms Squashing Big Dreams?

Location: MyPR

The reality for many schools in South Africa is bleak and often dire. Many students are forced to learn in makeshift classrooms under trees or in mud rondavels. South Africa’s most disadvantaged students attend schools that are severely under-maintained and under-resourced. This stands in stark contrast to research highlighting the critical role that a proper …

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28 August 2024

RS South Africa Showcases Pulp and Paper Solutions at Mte Ngodwana

Location: MyPR

RS South Africa, a trading brand of RS Group plc (LSE: RS1), a global provider of product and service solutions, will be exhibiting at MTE Ngodwana 2024 in Mpumalanga on 22 August. RS provides industrial products and service solutions for the pulp and paper industry that allow customers to focus on designing, building, maintaining, repairing, …

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28 August 2024

Deepening government, business partnership critical for SA

Location: News

Deepening government, business partnership critical for SA

President Cyril Ramaphosa says although the partnership between business and government has yielded results in sectors such as energy and logistics, much more can be done collaboratively to address two of South Africa’s most pressing challenges – unemployment and economic growth.

The President was delivering the keynote address during the Annual General Meeting (AGM) of Business Unity South Africa (BUSA).

“With our far-reaching reforms gaining momentum, the second phase of our partnership with business requires a firm focus on employment creation. This is where we need to strengthen the partnership.

“Business continues to support programmes like the Youth Employment Service and the SA Youth National Pathway Management Network. These initiatives connect young unemployed South Africans with opportunities for work experience, jobs and skills. But there is much more we need to do,” he said.

President Ramaphosa highlighted that government and business are in agreement about various areas where work can be done to stimulate economic growth and employment.

“We must accelerate the work to overhaul the visa regime to attract critical skills, investment and tourism. We need to make use of the opportunities we have identified in tourism, business process outsourcing and the digital economy.

“We agree on the urgency of equipping the workforce with digital skills to take advantage of the new world of work. We agree on the need to use private sector capital to fund the growth of small businesses, particularly in under-serviced areas like townships and rural areas.

“As the Government of National Unity, we seek to deepen this partnership [with business] so that we can together build a conducive environment for investment, growth and job creation,” he said.

A government at work

President Ramaphosa told the BUSA AGM that for its part, the seventh administration is already at work to make good on its commitment to growing the economy.

“As we outlined in the Opening of Parliament Address, the apex priority of this administration is to drive inclusive growth. This is essential if we are to create employment.

“We are therefore focused on sectors with high potential for growth and employment, such as technology, manufacturing, agriculture and renewable energy. 

"We are committed to ensuring that economic growth benefits all South Africans, especially the marginalised and underserved communities. This means supporting SMMEs [small, medium and micro enterprises] and ensuring equitable access to opportunities.

“Growing our exports is a priority. We are committed to working with business and other social partners to improve the global competitiveness of local industries. We are working to streamline export processes to address tariff and non-tariff barriers, and to provide financial and technical assistance to exporters,” the President said.

Furthermore, government will continue on its reform path and with providing opportunities for education and skills development.

“We will continue on the path of structural and regulatory reform to improve the business operating environment. We are committed to a stable policy environment that stimulates investment.

“A skilled workforce is the backbone of a thriving economy. As government, we will continue to invest in education and vocational training to equip young people with the skills needed in a rapidly changing economy,” the President said.

Partnerships

President Ramaphosa maintained that government remains committed to its partnership with BUSA to “drive economic growth that improves the quality of life of all South Africans”.

He added, however, that it is pivotal to maintain active and continuous engagement to sustain the partnership.

“We must accept that there will, from time to time, be areas on which we may disagree. We should not let this deter us from the work we need to do. 

“Rather we should remain engaged in dialogue with a view to finding solutions that serve the interests of the country. Clear communication is crucial for building trust and ensuring that policies are informed by the realities on the ground.

“We must continue to work together. We must leverage our collective resources, expertise and passion for our country’s future. Let us seize this moment to build a more inclusive, prosperous South Africa. Let us build a South Africa where every citizen has the opportunity to contribute to and benefit from our economic progress,” President Ramaphosa said. – SAnews.gov.za

NeoB
Wed, 08/28/2024 - 13:58

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28 August 2024

Trinasolar Reinforces Its Commitment to South Africa’s Renewable Energy Future with Landmark Event in Cape Town

Location: News
Trina Solar

Trinasolar (www.Trinasolar.com), a global leader in smart PV and energy storage solutions, further solidified its commitment to South Africa's renewable energy future with an insightful customer event in Cape Town on August 26th. This event not only emphasized Trinasolar's ongoing expansion in the region but also highlighted its transformative impact on the country's energy landscape. 

The event featured a keynote address by Kadri Nassiep, the City of Cape Town's Energy Executive Director, who provided an insightful overview of the city's energy strategies. Mr. Nassiep's address tackled the critical challenges of power outages and outlined innovative solutions that align with Trinasolar's mission to deliver reliable, sustainable energy to communities across South Africa. 

Zaheer Khan, Regional Director for South Africa at Trinasolar, spoke to the company's significant milestones in the region, reflecting on Trinasolar's growing leadership in the renewable energy sector. "Our journey in South Africa is one of partnership and progress. Trinasolar's advanced technologies and strategic collaborations are not only addressing the immediate energy needs but also laying the foundation for a sustainable energy ecosystem in the country," Khan stated. He further emphasized Trinasolar's role as a catalyst for positive change, driving both economic growth and environmental stewardship in South Africa. 

Peter Pan, Trinasolar's Storage Sales Manager, presented the company's cutting-edge energy storage solutions, which have been instrumental in ensuring energy resilience across different regions. His presentation highlighted Trinasolar's ability to offer full-process solutions that adapt to the diverse and dynamic needs of South African customers, further reinforcing the company's pivotal role in the country's energy transition. 

In a surprise highlight, legendary South African cricketer Dale Steyn shared his journey of overcoming challenges, drawing parallels between his career and the resilience required in the energy sector. Trinasolar also announced the establishment of the Trinasolar SA Padel Club, an initiative designed to strengthen business relationships with key partners in South Africa's renewable energy industry. The club will serve as a platform for collaboration and networking among industry leaders, fostering a community dedicated to the shared goal of sustainable energy advancement. 

The evening concluded with a gala dinner and a captivating performance, leaving guests with a renewed sense of purpose and a commitment to driving forward South Africa's renewable energy agenda, with Trinasolar at the helm. 

Since its founding in 1997, Trinasolar has emerged as a world-leading photovoltaics technology provider. With a robust presence in South Africa, the company continues to innovate and expand, playing a crucial role in the country's transition to a sustainable energy future. 

Distributed by APO Group on behalf of Trina Solar.

About Trinasolar (688599. SH) 
Founded in 1997, Trinasolar Co Ltd (stock symbol: Trinasolar; stock code: 688599) is engaged mainly in PV products, PV systems and smart energy. PV products include R&D, production and sales of PV modules. PV systems consist of power stations and system products. Smart energy comprises mainly PV power generation and operatzions and maintenance, smart solutions for energy storage, smart microgrid, and development and sales of multi-energy systems. We are committed to leading the way in smart PV and energy storage solutions and facilitating the transformation of new power systems for a net-zero future.  

On June 10, 2020, Trinasolar was listed on the Science and Technology Innovation Board (STAR Market) of the Shanghai Stock Exchange(SSE). It was the first PV and energy storage company to go public on the STAR Market providing PV products and systems, as well as smart energy. For more information, please visit www.Trinasolar.com. 

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28 August 2024

Critical Minerals Africa Summit to Showcase Battery, Electric Vehicle (EV) Manufacturing Prospects

Location: News
Energy Capital & Power

The Democratic Republic of the Congo (DRC) and Zambia – among the world's top mineral producers – are currently spearheading the implementation of a Transboundary Battery and Electric Vehicle (EV) Special Economic Zone (SEZ) (https://apo-opa.co/4g2yhK7). The development of SEZs dedicated exclusively to battery and EV production aims to unlock new foreign investment, as well as position both countries within the global automotive manufacturing space. 

The upcoming Critical Minerals Africa (CMA) Summit will feature a Automotive and Batteries Focus panel, examining measures to establish Africa as a global hub for battery precursors, batteries and EVs, as well as exploring opportunities for Africa's critical minerals to support clean energy development. To date, most African automotive manufacturing takes place in South Africa, yet massive mineral wealth in Zambia and the DRC indicates the potential of these markets to become industrial hubs. 

The Critical Minerals Africa 2024 summit on November 6 - 7 serves to position Africa as the primary investment destination for critical minerals. The event is held alongside the African Energy Week: Invest in African Energy 2024 conference (https://apo-opa.co/4fUGT5A) on November 4 - 8, offering delegates access to the full scope of energy, mining and finance leaders in Cape Town. Sponsors, exhibitors and delegates can learn more by contacting sales@energycapitalpower.com. 

Increased cooperation among governments and international partners has been critical to positioning Africa's mineral producers as potential manufacturing partners. The DRC, which holds the world's largest cobalt reserves at 6 million metric tons out of the global 11 million metric tons, established the Congolese Battery Council in 2023 to facilitate investment across its mineral value chain. The country – also representing Africa's largest copper producer – signed an MOU with Zambia in March 2023 to fast-track the implementation of the Transboundary Battery and Electric Vehicle SEZ, seeking to add value to its raw cobalt and copper resources. 

Zambia – Africa's second-largest copper producer – formed a task committee in 2023 to expedite the implementation of the SEZ and identified land to host the zone. The country has strengthened partnerships with global mining firms, including Ivanhoe Mines, Galileo Resources, Tertiary Minerals, First Quantum, Vedanta Resources, Jubilee Metals and Xtract Resources, to achieve its goal of producing three million tons of copper annually by 2030. The Zambian and DRC governments are also partnering with the World Bank to launch local platforms between May 2024 and 2026, aimed at identifying and assessing investment prospects across their respective EV and critical minerals value chain. 

South Africa, which holds 80% of the world's platinum group metals (PGMs) reserves – crucial for EV and hydrogen vehicle production – currently leads Africa's EV market. Mining firm Isondo Precious Metals (https://apo-opa.co/3XlPHdy) plans to launch an advanced manufacturing facility for processing PGMs for EV applications in Johannesburg. Meanwhile, global automaker BMW, mining firm Anglo Platinum and energy company Sasol are piloting a fleet of hydrogen-fueled vehicles to advance smart mobility adoption in South Africa. CMA 2024 will host delegations from the DRC, Zambia, South Africa and other key industry stakeholders to discuss the latest developments shaping Africa's smart mobility and mining sectors. 

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

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28 August 2024

The Future of African Hospitality

Location: Business
API Events

Africa's tourism sector is poised for an exciting ascent, and it has the potential to soar if it is propelled by visionary strategies and robust investments that harness the continent's unparalleled tourist allure.

Amid the unprecedented changes of recent years, Africa's tourist appeal is greater than ever. With the right steps, it can offer more top destinations for today's tourists. The API Hospitality & Residences Forum is a pivotal platform for Africa's hospitality industry that is legendary for its dealmaking, networking, and unique insights. It takes place on 19 September 2024 at the Westin Hotel in Cape Town on the first day of the highly anticipated two-day API Summit.

This year's API Summit is themed “Impact”, and industry leaders speaking at the API Hospitality and Residences Forum highlight the key to unlocking the full potential of Africa's tourism sector to foster sustainable growth and enhance the continent's appeal to both travellers and investors includes focused investments, strategic partnerships and robust public sector involvement. The API Hospitality & Residence Forum sets the stage to catalyse and nurture these outcomes.

Bani Haddad, Founder and Managing Director of Aleph Hospitality, the largest independent hotel management company in the Middle East and Africa, will be among the distinguished speakers. "The pandemic had several profound effects on the tourism sector," Haddad reflects. "One of the most noticeable impacts has been the increased desire among travellers for domestic or regional trips, as well as nature-based or less crowded destinations. Africa is uniquely positioned to benefit from these trends.”

Citing the latest Chain Development Pipeline report by W Hospitality, Haddad notes a 20% growth in the number of hotel rooms in Africa since 2020, reaching a total of 92,134 rooms. “This growth indicates that the supply is expanding across the continent to meet the rising demand. We are also witnessing an increase in the quality and branded hotel supply in resort destinations such as Zanzibar and national parks like Serengeti and Mara. The global demand for nature and experiential experiences presents a significant opportunity for Africa, which has much to offer in this regard."

Haddad continues, "Investing in and fostering partnerships within the tourism sector is not just beneficial but essential for unlocking its full potential in Africa.”

Such efforts can lead to comprehensive economic development, job creation, and the promotion of sustainable and inclusive growth. He emphasises that governments, private sector players, and international organisations all have crucial roles in facilitating these investments and partnerships to ensure the tourism sector thrives and significantly contributes to the continent's development.

Echoing this sentiment, Daniel Trappler, Senior Director – Development Sub-Sahara Africa at Radisson Hotel Group (RHG), who will also speak at the event, outlines RHG's strategic plans in the post-COVID landscape. "RHG plans to capitalise on growth opportunities in key value nodes such as Cape Town, Victoria Falls, Zanzibar, and leisure offerings in the coastal and safari segments across Southern and Eastern Africa. Within these nodes lies the opportunity to increase RHG branded supply to meet the obvious growing demand.”

Trappler highlights RHG's eagerness to expand its footprint in Cape Town's 5-star and luxury segments, which have consistently performed above the market average despite higher rates. In Victoria Falls, RHG aims to replicate the success of its Zambezi River's Zambia side, planning to introduce the upscale Radisson brand to Victoria Falls, Zimbabwe.

"We are actively seeking partners to bring our Radisson, Radisson Blu, or Radisson Collection brands to Zanzibar, given RHG's significant presence in Eastern Europe, the largest source market for Zanzibar," Trappler adds.

Since opening its new Radisson Safari Hotel Hoedspruit, RHG has set its sights on replicating the same model within Southern and Eastern Africa, capturing both the foreign market and the regional market, which prefers short travel distances for tourism needs.

“The group is developing resort offerings in various safari and coastal locations, including Masai Mara, Serengeti, the Kenyan coast, Seychelles, Mauritius and the wildlife territories in Namibia and Botswana."

Trappler underscores the critical role of investment and public sector involvement. "The contribution of tourism to GDP is evident across the region. National and local governments need to increase their awareness of the sector's potential contribution to GDP. In South Africa, where RHG aims to double its portfolio, we need to see more active interest and contributions from the public sector towards developing hotels and hospitality infrastructure."

He stresses the need for public sector initiatives driving growth in this sector, particularly in South Africa, where the sector is strong but could be a much larger contributor to GDP and employment creation.

The API Hospitality & Residences Forum is a unique pan-African event that brings hospitality-focused leaders and investors together with Africa's leading real estate community. Sponsored by industry giants like Radisson Hotel Group, Marriott Hotels, HTI Consulting, JLL, and Tui Blu, the forum offers an unparalleled platform for doing business in African hospitality.

With over 500 leaders expected to attend the summit, including more than 250 hospitality delegates, in excess of 75 hotel brands, operators and owners, and 35 speakers, the API Hospitality & Residences Forum is the premier gathering of Africa's leading hospitality professions and consultants.

Distributed by APO Group on behalf of API Events.

For any media enquiries or interviews, kindly contact:
Anne Lovell
anne@dmix.com
083 651 7777

Distributed for API Events by Dmix:
API Events
Murray Anderson-Ogle
Email:Murray@apievents.com
Contact: +27 71 890 77 39
Website: www.APIEvents.com

Social Media:
Facebook: https://apo-opa.co/4dF2L3l
Instagram: @ APIsummit
LinkedIn: API Events

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27 August 2024

Scaling up Financing Is Key to Accelerating Africa’s Structural Transformation

Location: News
African Development Bank Group (AfDB)

By Adamon Mukasa and Anthony Simpasa, African Development Bank Group (www.AfDB.org).

Document 1: http://apo-opa.co/4g3EVzM
Document 2: http://apo-opa.co/473xTHm
Document 3: http://apo-opa.co/4gcshPk
Document 4: http://apo-opa.co/4gcsi5Q
Document 5: http://apo-opa.co/471DE8y
Document 6: http://apo-opa.co/4gcskL0
Document 7: http://apo-opa.co/47361TE

Document 8: http://apo-opa.co/4dXk53t

The calls for structural economic transformation in Africa date back to the 1960s when newly independent nations aimed to eliminate poverty through economic diversification, sustained growth, and job creation. This agenda persists today, as Africa continues to face significant developmental challenges.

Pursuing post-independence economic agendas was particularly important because, behind the euphoria (http://apo-opa.co/4dZMCVX) of independence, laid significant developmental challenges in several African countries: unskilled labor force, political and institutional fragilities, poor health conditions, rapid population growth, wide income disparities, and the legacy of colonialism and exclusion from the modern world. The establishment of the Organization of African Unity (OAU) (http://apo-opa.co/4g3EVzM) in 1963 and the African Development Bank (http://apo-opa.co/473xTHm) a year later aimed to tackle these other challenges in a more coordinated and impactful manner. The African Union (http://apo-opa.co/475z3Sz), successor of the OAU, developed Agenda 2063 (http://apo-opa.co/4g3EQMu) in 2013 as a blueprint for turning Africa into the global growth pole and powerhouse of the future.

Africa's Economic Development Paradox

More than sixty years after independence (http://apo-opa.co/3AzLutK), Africa's structural transformation – the shift of workers from lower to higher productivity employment and intra-sectoral productivity growth (http://apo-opa.co/4dQj0KK) – has not progressed as quickly as hoped. Both policymakers and analysts within and outside the continent are genuinely concerned that achieving structural transformation could remain a mirage for many African countries in the absence of bold structural reforms and financing to support implementation of these policies. Why being so pessimistic? Because historical facts tend to support their pessimism. The African Economic Outlook (AEO) 2024 (http://apo-opa.co/4g2RATW) report, released in May by the African Development Bank, reveals that Africa's transformation has been slow and uneven. In countries showing signs of transformation, the process has been characterized by low industrialization and predominantly by employment in low-skill, low-productivity services. The agriculture sector, employing 42% of Africa's workforce, is 60% less productive than the economy-wide average. Consequently, many workers remain trapped in low-productivity, low-wage jobs, unable to escape poverty.

As a result, Africa was the only region of the world where the average real GDP per capita contracted in the 1980s and 1990s, the so-called lost decades (http://apo-opa.co/4fYqm0D).

Africa is off-track in achieving almost all SDG targets by 2030, consistently showing the lowest SDG performance globally since the 2000s (Figure 1). Without intervention, it is predicted that by 2030, nearly 9 out of 10 of the world's extremely poor will be in Africa (http://apo-opa.co/4e2weEn) and under current conditions[1], it could take African countries over a century on average to reach high-income status.


[1] This scenario assumes that real GDP per capita of each African country will grow according to its post-COVID-19 (2022–25) average growth rate as computed by the African Development Bank's Statistics Department.

But Africa is a very large, diverse, heterogeneous, region. Some countries have, over the past four decades preceding the COVID-19 pandemic, experienced episodes of growth accelerations, growth spikes and failed take-offs (http://apo-opa.co/4gcshPk). Cases of consistent good performance include Botswana, Seychelles, and Mauritius, routinely ranked among the top 10 fastest-growing economies globally. African countries have indeed exhibited remarkable resilience amid confounding shocks, and in 2024, 10 countries[1] in Africa are projected to be among the world's top 20 fastest-growing economies, sustaining the trend observed during the past four decades pre-COVID-19.

Importantly, over the past quarter century, thanks to strong economic reforms and macroeconomic stability, enhanced governance, relative peace and improved political environment and, public investments in soft and hard infrastructure, some African countries[2] have managed to transform their economies and recorded economic growth rates above the global average.

The role of finance in fast-tracking Africa's structural transformation

Many factors, both internal and external, could explain the relatively slow progress in structurally transforming African economies. Among them: over-reliance on commodity-led growth (http://apo-opa.co/4fZJTxI), inadequate infrastructure (http://apo-opa.co/4dV5DZE); insufficient pool of skilled workers (http://apo-opa.co/4g49x4g) and low access to affordable finance (http://apo-opa.co/47361D8); weak institutional governance (http://apo-opa.co/4e0O5LG), recurrent conflicts (http://apo-opa.co/4g49rtq), effects of climate change (http://apo-opa.co/3ABuuTU), tightening of global financial conditions (http://apo-opa.co/4fZSFvC) and rising debt vulnerabilities (http://apo-opa.co/4724oWk).

While all these factors are equally important and call for urgent actions from policymakers, financing Africa's transformation (http://apo-opa.co/4fTo1Uy) is a multi-layered overarching challenge that demands special attention and a pragmatic approach to move from billions to trillions. The cost of achieving the SDGs by 2030 in Africa is estimated at about $1.3 trillion (http://apo-opa.co/4gcsi5Q) annually, equivalent to 42% of Africa's 2023 GDP. Infrastructure needs alone are estimated by the African Development Bank at $181-$221 billion per year over 2023-2030.  The climate finance gap is approximately $213.4 billion (http://apo-opa.co/4gcsiTo) annually through 2030.

Insufficient domestic resources (http://apo-opa.co/471DE8y), compounded by the failure of the global financial architecture (http://apo-opa.co/471zU6K) to mobilize and at scale, affordable finance for sustainable development (http://apo-opa.co/4gcskL0), have led many African countries to resort to commercial borrowing on unfavorable terms. This has resulted in increased debt vulnerabilities. Africa's Public and Publicly Guaranteed external debt has nearly tripled since 2010, reaching $656 billion in 2022, accounting for 22.4% of the continent's GDP and exceeding Africa's public revenue-to-GDP ratio of 20.4%. In 2024, African countries are expected to spend around $74 billion on debt service, up from $17 billion in 2010. Out of the projected debt service, $40 billion is owed to private creditors.

Even more concerning, debt service payments now account for about 11% of the continent's total revenues. High debt service is diverting resources from crucial investments in infrastructure, education, and health – all critical for economic transformation and long-term growth. As of April 2024, 20 African countries[3] (http://apo-opa.co/47361TE) were either in external debt distress or at high risk of external debt distress.

The AEO 2024 report estimates that to accelerate Africa's structural transformation, the continent needs to close an annual financing gap of $402.2 billion (about 13.7% of its projected 2024 GDP) by 2030. Figure 2 shows that transport[4] infrastructure accounts for the largest share of the gap (72.9%), followed by education (10.4%), energy (9.9%), and productivity-enhancing technologies (6.8%). These figures reflect decades of underinvestment in critical areas for development.

The level of financing gap in transport infrastructure reflects the continent's shortfall explained by decades of public underinvestment to upgrade existing road infrastructure or open new roadways, to match the growing population and economic dynamism across the continent. For instance, Africa's median road density is about 12 km per 100 km2, compared with 42.5 km in high-performing developing countries and 136 km in high-income countries. Only about 27% of African roads are paved, far behind the rest of the world (about 49%) and other developing countries (35.4%).


[1] Niger, Senegal, Libya, Côte d'Ivoire, Ethiopia, Rwanda, Benin, Djibouti, Gambia, and Uganda

[2] Algeria, Comoros, Djibouti, Egypt, eSwatini, Lesotho, Libya, Mauritius, Sao Tome and Principe, Senegal, Seychelles, and Tunisia

[3] Burundi, Cameroon, Central African Republic, Chad, Comoros, Congo, Djibouti, Ethiopia, Gambia, Ghana, Guinea-Bissau, Kenya, Malawi, Mozambique, São Tomé and Príncipe, Sierra Leone, South Sudan, Sudan, Zambia, and Zimbabwe

[4] Proxied by roads as road transport is the most frequently used means of transporting goods and people across the continent, carrying at least 80 percent of goods and 90 percent of passengers.

On education, vital for equipping the current and future workforce with the required skillset for structural transformation, African countries' median SDG index score was only 51.5 (out of a maximum of 100) in 2022, while other low-income developing countries reached a median score of 87. In addition, according to World Bank's World Development Indicators (http://apo-opa.co/3AGXw4N), African governments currently spend on average $312 annually per student in primary education, $473 on secondary education, and $2,227 on tertiary education, or about, respectively, 3, 2.3, and 1.1 times lower than high-performing developing countries on  SDG 4. On energy, Africa's median SDG 7 index score was 38.8 in 2022, suggesting that a typical African country was 61.2% further away from achieving the best possible outcome on SDG 7 targets. Despite its vast energy potential, electric power consumption per capita in Africa is still the lowest in the world, estimated at 638.4 kilowatt-hours (kWh) in 2021, versus 2,056 kWh in other developing countries. Due to poor energy infrastructure, over 600 million Africans have no access to electricity http://apo-opa.co/46YZuJT and this is despite progress in recent years[1]. On productivity-enhancing technology and innovation, the continent lags other regions too. This impedes its ability to either innovate and introduce new products, technologies, and/or services that could support its structural transformation. African countries' average Gross Domestic Expenditure on R&D (GERD) represents about 0.4% of their GDP (against about 1% in the rest of the world) and they spend on average $10.7 per capita on GERD (compared to $403.2 per capita in other regions of the world). Furthermore, the continent displays the lowest concentration of researchers in R&D, with an average of 221 researchers per million people, against 742 researchers in other developing countries.

The financing gap varies significantly across countries. The cross-country heterogeneity is mainly explained by differences in current SDG performance related to structural transformation as well as differences in demographics (current and projected population size and composition, land size, and the like) and socioeconomic characteristics (current and projected GDP per capita, and spending on education, infrastructure, and so on). As shown in Figure 3, the estimated annual financing gap represents at least 10 % of 2024's projected GDP in 36 African countries, and in nine of these, at least 50 % of GDP. For such countries, closing the financing gap by 2030 is, therefore, realistically impossible.


[1] For instance, the average share of people with access to electricity increased from about 38 percent in 2000 to about 59 percent in 2022. In 28 African countries, the percent of people with access to electricity has more than doubled between 2000 and 2022, out of which it has increased at least fivefold in 8 countries (Kenya, Lesotho, Mali, Mozambique, Rwanda, Somalia, Tanzania, and Uganda).

Note: COG: Congo; CPV: Cabo Verde; GHA: Ghana; CIV: Cote d'Ivoire; GAB: Gabon; GNQ: Equatorial Guinea; MUS: Mauritius; SYC: Seychelles; ZAF: South Africa. Source: Authors' computation based on the African Economic Outlook (AEO) 2024 database

A more realistic approach would be to allow for a gradual but steady transformation process over a longer period, aligning with the African Union's Agenda 2063. This would enable countries to mobilize more resources domestically and externally, without jeopardizing debt sustainability.

What next?

Scaling up finance to accelerate Africa's structural transformation should be a key priority for policymakers. While implementing structural reforms is crucial for sustainable growth, success depends on the availability, timeliness, and scale of long-term development financing and enhancing spending efficiency. African countries should therefore, inter alia, focus on: i) scaling up investment to build requisite human capital suited to local realities, circumstances, and development priorities; ii) boosting domestic resource mobilization and improving efficiency of public finance management; iii) creating targeted and streamlined incentives to attract private capital for key transformation sectors; and iv) launching ambitious national infrastructure programs with assured positive returns to attract affordable financing.

The international community should reform the global financial architecture (http://apo-opa.co/4dXk53t) to facilitate African countries' access to long-term, concessional development financing at scale, complementing domestic resources.

By addressing these financing challenges and implementing targeted reforms, Africa can accelerate its structural transformation and move closer to achieving its development goals as espouses in Agenda 2063.

Distributed by APO Group on behalf of African Development Bank Group (AfDB).

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27 August 2024

What Is a Managed Service Provider?

Location: MyPR

SevenC, a top managed service provider in South Africa, delves into the critical responsibilities and roles of MSPs in the region, highlighting their importance in optimising IT solutions for diverse businesses. Imagine a world where your business operations run smoothly, your IT systems are always up-to-date, and technical hiccups are a thing of the past. …

Read moreWhat Is a Managed Service Provider?
27 August 2024

Beyond Borders: What Powers SA’s Next Wave of Export Success

Location: MyPR

In the post-pandemic world, South Africa’s business landscape is undergoing a transformative shift, particularly in the realm of international exports. Reshaped consumer behaviour opened new avenues for South African businesses to reach global markets, and many South African brands are embracing international shipping as a critical component of their growth strategy. Central to this success …

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27 August 2024

Tributes for former Vice-Chancellor of UWC Prof Brian O’Connell

Location: News

Tributes for former Vice-Chancellor of UWC Prof Brian O’Connell

Science, Technology and Innovation Minister, Professor Blade Nzimande, has expressed great shock and sadness at the passing of the former Vice-Chancellor of the University of the Western Cape (UWC), Professor Brian O’Connell.

O’Connell passed away on Sunday at the age of 77.

The Minister has remembered O’Connell as an “illustrious” educationist and higher education leader who played a seminal role in basic and higher education following the advent of democracy in South Africa. 

“The roots of his passion for social justice, equality and freedom must have been planted during his experiences as a student activist at UWC in the mid-1960s and resonated throughout his extraordinary life,” Nzimande said. 

In higher education, the department said O’Connell led the university from 2001 until 2014, a period marked by difficult challenges of financial distress and the “merger” process. 

However, under his leadership, the department believes UWC faced up to both challenges with great skill.

The late Professor has also been recognised for guiding UWC through difficult times, transforming it into one of the few historically Black universities in South Africa to successfully overcome its history of marginalisation and stagnation.

“At the core of his transformational leadership role was his stunning success in deliberately positioning UWC to become one of South Africa’s leading teaching and research universities. 

“He worked tirelessly to mobilise resources from both South Africa and abroad to finance an ambitious Science Building project at a time of decline in fiscal support for infrastructure at universities.”

For his achievements in education, O’Connell was awarded the National Research Foundation’s (NRF) Lifetime Achievement Award in September 2017.

Nzimande further noted that “Professor O’Connell was without doubt a visionary and charismatic figure in higher education with an unwavering commitment to an agenda promoting progressive education as a public good, and for equality and social justice”.

According to the UWC Rector and Vice-Chancellor, Professor Tyrone Pretorius, O’Connell took the helm at a time when the university was facing the aftermath of staff retrenchments, financial vulnerability, the significant loss of academic leadership, evolving enrolment trends, and a despondent campus community.

“In his inaugural address in 2002, O’Connell argued that a university hardly deserves the name if it does not provide a space to grow in hope, to create and share knowledge, and to inform the agency.

“Through this approach, he emphasised the strength of using UWC’s distinctive academic role to rebuild the institution as an inspirational community of hope, to be a premier site of knowledge production, and to draw on the agency of its people to use and produce knowledge as agents of change,” Pretorius recalled.

Under O’Connell’s leadership, the university cemented trusted relationships with several universities internationally.

“These networks served as a strong catalytic force which laid the foundation for new partnerships and alliances.”

He mentioned that O’Connell’s legacy is one of passionate conviction, intellectual clarity and engaged leadership. 

“As we mourn the loss of a great man, we also celebrate his extraordinary life and the lasting impact he has had on our university and our society,” Pretorius added.

Among the many honorary doctorates Professor received, he was also bestowed the title Commander of the Order of Leopold II from the Belgian government for his contribution to the global tertiary institution sector.

“Professor O’Connell will be remembered in different ways by individuals he touched, but I have no doubt they will all remember his humility – from picking up litter on campus when he was the Rector, to setting an example for the campus community, or the simple gesture of remembering staff member’s names – even, at times, their families. 

“He was warm, affable and always dignified in immensely pressurised and challenging situations.” 

Both Nzimande and Pretorius extended their heartfelt condolences to the O’Connell family including his wife Judith and children, Amanda-Leigh and Bryan. – SAnews.gov.za
 

Gabisile
Tue, 08/27/2024 - 09:39

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26 August 2024

SA-China State Visit to focus on strengthening economic relations

Location: News

SA-China State Visit to focus on strengthening economic relations

With China being South Africa’s largest trading partner, the upcoming State Visit to the People’s Republic of China by President Cyril Ramaphosa is expected to fortify the economic relationship between the two countries.

In 2023, South Africa’s bilateral trade reached $34 billion, with exports totalling $12 billion and imports at $22 billion. 

“China’s substantial contribution to our investment drive has made it the largest source of foreign direct investment for South Africa. We anticipate concluding several important agreements during this State Visit, including a Framework Agreement on Development Cooperation, addressing the trade balance, and expanding market access,” spokesperson for the Minister of International Relations and Cooperation, Chrispin Phiri, said on Monday in Pretoria.

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Phiri said these agreements will strengthen South Africa’s Comprehensive Strategic Partnership with China and elevate regional and multilateral cooperation to support global peace and security.

The President will travel of China from 2 - 5 September 2024 to further strengthen diplomatic and trade relations between the two countries.

“This visit is a testament to the robust relations between our two nations, built on mutual respect and benefit. It follows President Xi Jinping’s fourth State Visit to South Africa, further strengthening our ties.

“The primary focus of this visit will be to fortify our economic relationship. South Africa’s largest trading partner, China, has played a pivotal role in our economy. 

“Our relations with China are central to realising our developmental agenda and efforts to implement the National Development Plan. This visit provides an opportunity to review progress on existing trade and cooperation, and to expedite and finalise new areas of collaboration,” he said.

While in China, the President will lead the South African delegation to the Forum on China-Africa Cooperation (FOCAC) Summit in Beijing from 4 to 5 September 2024.

The Summit, themed, 'Joining Hands to Advance Modernisation and Build a High-Level China-Africa Community with a Shared Future', will further South Africa’s cooperation under the Belt-and-Road Initiative, the Global Development Initiative, the Global Security Initiative, and the Global Civilisation Initiative (“Three Initiatives”).

SA-Japan developments

Meanwhile, Minister of International Relations and Cooperation Ronald Lamola successfully concluded his working visit to Japan, which coincided with the Tokyo International Conference on African Development (TICAD) Ministerial Meeting on 24-25 August 2024 in Tokyo.

Launched in 1993, TICAD is the first international developmental partnership with Africa. It advocates for Africa’s development agenda and strengthens economic cooperation between Africa and Japan.

The Minister led South Africa’s delegation at the Ministerial Meeting, held under the theme, ‘Realising a Sustainable Future'.

The Government of Japan convened this significant gathering in collaboration with the United Nations Development Programme (UNDP), the Office of the Special Adviser on Africa (UNOSAA), the World Bank, and the African Union (AU) Commission.

“The Minister’s visit to Japan coincided with Toyota’s announcement of a strategic investment of R 1.2 billion in the South African automotive industry and our first consignment of avocados to Japan. This marks a significant moment for our agricultural sector in the East Asia market.  

“These important economic developments will go a long way to drive faster industrialisation, job creation, and transformation implementation. The Minister reiterated that South Africa enjoys a significant relationship with Japan, underpinned by a fair economic partnership that contributes significantly to our nation’s economic development and people-to-people relations,” Phiri said. - SAnews.gov.za

nosihle
Mon, 08/26/2024 - 15:07

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26 August 2024

Benefits of just energy transition must be shared equally

Location: News

Benefits of just energy transition must be shared equally

As South Africa transitions towards a low carbon economy, Deputy Minister of Forestry, Fisheries and the Environment, Narend Singh, says the benefits of energy renewable projects should be shared equitably with communities.

Addressing the National Consultative Workshop on Early Warnings for All (EW4All) in Pretoria, the Deputy Minister emphasised the importance of addressing potential job losses in the coal sector. 

South Africa’s plans for the just energy transition will focus on the transition of the energy sector, as it navigates the shift away from coal towards cleaner sources of energy.

“It is essential that we approach this transition with humanity, providing support, training, and creating new opportunities within the renewable energy sector. A holistic approach is required, one that embraces clear and comprehensive national renewable energy policies sets defined targets and provides a roadmap for the transition.

“Community participation and ownership in renewable energy projects must be a cornerstone of this policy, ensuring that the benefits of this transition are shared equitably,” Singh said on Monday.

While necessary, he said the just energy transition does come with its set of challenges. 

“Acknowledging our current economic growth's stagnation, the reliance on coal for energy, and the coal industry's role as a significant employment sector, we understand the complexities involved.

“Moreover, the challenge of making renewable energy technologies affordable and accessible cannot be overlooked. We need innovative financing mechanisms to ensure that clean energy solutions are within reach for all South Africans, especially those in low-income communities.

“As we chart our course forward, it is clear that no single solution can address the multifaceted challenges we face,” the Deputy Minister said.

He said for South Africa to truly succeed, it needs more than just policies and roadmaps.

“…We need action and commitment from every sector of our society. From all spheres of government to the private sector, from civil society to every citizen, we must unite in our efforts towards a sustainable future. Now is the time for us to harness the incredible potential of renewable energy, to innovate, to build, and to grow together.

“Therefore, our call to action as a responsible, interdependent, and interrelated government is not just to listen but to participate actively in this transition. Let us collaborate, innovate, and implement the solutions that will power our nation forward. 

“Let us build a future that aligns with our environmental, economic, and social imperatives. A future where sustainable energy drives our progress, where no one is left behind, and where we stand as a beacon of hope and resilience in the face of global challenges,” Singh said.

He stressed that local government is at the coal face of the country’s efforts, as this is where policy legislation and regulation turn into action. 

“We must be focusing on a back-to-basics approach, getting the basics right with respect to our daily deliverables. More than half of the battle will be won if every local sphere of government gets the basics right. Innovation and consistently good service delivery are what will carry the day,” the Deputy Minister said.

He said electricity is the backbone of progress, an enabler that unlocks industrial growth, drives the economy, and promotes inclusivity. 

“Yet, the sustainability of our progress hinges on our ability to shift towards clean energy. The spectres of poverty, inequality and unemployment cannot be exorcised without robust GDP [gross domestic product] growth, which in turn demands a stable and sufficient energy supply. 

“However, our journey is compounded by the environmental cost of our past reliance on coal. This has left us with a legacy of environmental degradation and health issues, making our commitment to transitioning to renewable energy sources crucial for our environment and the well-being of our communities,” Singh said. - SAnews.gov.za
 

nosihle
Mon, 08/26/2024 - 14:30

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26 August 2024

Municipalities must be at “driving seat” of clean energy

Location: News

Municipalities must be at "driving seat" of clean energy

Municipalities are at the centre of government’s efforts to move towards clean energy and fulfil the country’s commitment to global climate change.

This is according to President Cyril Ramaphosa, who was addressing the opening ceremony of the Municipal Just Energy Transition (JET) Conference held in Johannesburg on Monday.

The President highlighted that South Africa’s 257 metropolitan, district and local municipalities “own and operate approximately half of South Africa’s electricity distribution grid and facilitate universal access to electricity”.

“One hundred and sixty five municipalities are electricity service providers. Through the Integrated National Electrification Programme grant, municipalities are responsible for addressing the electrification backlog. 

“Municipalities therefore need to be in the driving seat when it comes to providing clean, affordable energy to communities, businesses and industry,” the President highlighted.

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In this regard, South Africa’s Cabinet approved the JET Investment Plan, which has a dedicated municipal portfolio roadmap with three areas of focus.

These are:

  • Providing access to affordable clean electricity;
  • Sustainable financing for electricity infrastructure, and
  • Strengthening the capacity of municipalities to manage the transition.

On the first area of focus, the President said the recent promulgation of the Electricity Regulation Amendment “paves the way for a new, competitive electricity market.

“The reforms contained in the law must help to speed up decarbonisation. But more than that, they must result in a better deal for households and businesses. 

“The national climate change effort must not come at a higher cost for electricity users. South African households, like many around the world, are battling with the rising cost of living, including the cost of energy. 

“We must therefore ensure that the energy transition does not contribute to energy poverty. It must not deepen inequality,” President Ramaphosa insisted.

In terms of sustainable financing for electricity infrastructure, he said municipal grid system needs to be upgraded, modernised and extended.

“The energy generation of the future requires systems that are fundamentally different in terms of design, capability and operation.

“Smart metering will have to accommodate the increased penetration of renewable energy at different scales. It will need to facilitate wheeling and feed-in by small-scale embedded generation. 

“Massive investment is needed to ensure optimal grid control, safety and energy storage. This investment will need to draw on both public and private sources of capital,” he said.

Turning to how the capacity of municipalities can be strengthened, President Ramaphosa said extensive training and upskilling of officials will be the order of the day.

“New systems will be required to identify human resource, technical capacity and other needs within municipalities, and plan and budget accordingly. 

“Municipalities will need to adopt best practice when it comes to the design and implementation of programmes and projects,” he said.

The President told conference delegates that the country’s drive towards a lower carbon intensive economy does not only reside with government.

“A just energy transition is about promoting economic diversification, transformation and industrialisation in the renewable energy sector that empowers workers, marginalised communities and black businesses.

“The achievement of defined just energy transition outcomes at a municipal level requires supportive policies and leadership, good governance and a coordinated effort among all relevant institutions.

“As government, business, labour and civil society, let us deepen our collaboration to achieve an energy future that is secure and sustainable for all,” President Ramaphosa said. 

READ | SA committed to meeting climate change undertakings

– SAnews.gov.za

NeoB
Mon, 08/26/2024 - 11:13

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26 August 2024

The Beaulah Queens Return to Our Stage in the Bay

Location: Entertainment, MyPR

Get ready for an electrifying return of the Kat Gilardi and Manila von Teez Drag Show at Bay Harbour Market on 20 August 2024! Fresh off their appearance on the Showmax series Beaulah: Queens van die Kaap. Kat and Manila’s preparation for this show is nothing short of meticulous. Every element, from the song choices …

Read moreThe Beaulah Queens Return to Our Stage in the Bay
26 August 2024

Applications Now Open for the Meltwater Entrepreneurial School of Technology (Mest) Africa Challenge 2024

Location: News
The Meltwater Entrepreneurial School of Technology (MEST Africa)

The Meltwater Entrepreneurial School of Technology (MEST Africa) (www.Meltwater.org), in collaboration with the Norwegian Embassy, proudly announces the launch of the 6th edition of the MEST Africa Challenge (MAC). This year's challenge seeks to identify and support exceptional AgriTech entrepreneurs who are addressing critical agricultural challenges in West Africa. 

In the rapidly evolving world of AgriTech, innovation needs the right conditions to flourish. While many African entrepreneurs possess bold visions, they often face challenges in accessing the necessary resources and networks to bring their ideas to fruition. MAC 2024 is here to bridge that gap, offering startups the opportunity to “Find Their Soil” by providing critical support, funding, and mentorship. 

"‘Find Your Soil' is a call to action for AgriTech innovators to discover the ideal environment where their vision can flourish. Through the MEST Africa Challenge, we aim to support this ecosystem by providing the necessary resources, visibility, and strategic support for these entrepreneurs to thrive,” said Ashwin Ravichandran, Portfolio Advisor, MEST Africa. 

MEST Africa is committed to fostering job creation and economic growth across the continent through software entrepreneurship. By offering specialized tech entrepreneurial training and investment opportunities, the organization empowers Africa's brightest minds to build and scale impactful businesses. 

The MEST Africa Challenge 2024, centered on the AgriTech sector, is open to startups from key West African markets, including Benin, Cape Verde, Côte d'Ivoire, Gambia, Ghana, Guinea, Guinea-Bissau, Liberia, Mauritania, Nigeria, Senegal, Sierra Leone, Mali, and Togo. The winning startup will receive $50,000 in equity funding along with access to MEST's extensive global network, unlocking valuable partnerships, mentorship, and investment opportunities to accelerate their growth and global presence. 

Since its inception, MEST has invested over $30 million into training more than 2,000 entrepreneurs and has supported the launch of 90 early-stage tech startups across sectors including AgriTech, FinTech, SaaS, eCommerce, Digital Media, and Healthcare. This year presents an unparalleled opportunity for AgriTech entrepreneurs to “Find Their Soil” and take their businesses to the next level. 

Eligibility Criteria for MEST Africa Challenge 2024: 

  • Early-stage technology startup 
  • Monthly Recurring Revenue: A minimum of $5k 
  • Funding raised: $0 to $1M cumulative 
  • Years in existence: 3 years and below 
  • Traction: At least 6 months of recurring revenue 
  • Founding team: At least 2 founding team members 
  • Registered in Delaware (This is preferred) 
  • Any industry 
  • Any business model (B2B, B2C, B2B2C, B2G etc…) 
  • All participants must pitch in English 

Interested AgriTech entrepreneurs can learn more and apply here https://apo-opa.co/3yUlSr6.

Distributed by APO Group on behalf of The Meltwater Entrepreneurial School of Technology (MEST Africa).

Media Contact: 
Ophesmur Adjei 
Communications and Community Manager 
Mobile: +233 242 8171 174 
Email: marketing@meltwater.org or Ophesmur@meltwater.org 

About MEST Africa: 
The Meltwater Foundation, established in 2008, is the non-profit arm of the global media intelligence company, Meltwater. With a clear mission to foster job opportunities and stimulate economic growth in Africa through software entrepreneurship, the Foundation is based in Accra, Ghana. The flagship program, MEST, offers a 1 year specialized tech entrepreneurial training to high caliber talent from over 22 countries including Nigeria, Kenya, South Africa and Senegal; and invests in early to growth stage startups.  

MEST Programs was launched in 2020 to focus on partnerships with other foundations and organizations who share our mission of creating wealth and jobs in Africa through digital skills training and startup acceleration.   

To learn more about MEST Africa, visit our website https://apo-opa.co/4cBTfwx.

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The Meltwater Entrepreneurial School of Technology (MEST Africa)
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23 August 2024

Eskom launches pilot electric vehicle charging infrastructure in Midrand

Location: News

Eskom launches pilot electric vehicle charging infrastructure in Midrand

Eskom has officially launched its electric vehicle (EV) charging infrastructure at the Eskom Academy of Learning (EAL) in Midrand, Gauteng. 

“This milestone marks a significant step in Eskom Distribution’s commitment to supporting the growth of the eMobility sector in South Africa and contributing to the country’s broader goals of reducing carbon emissions,” the state-owned power utility said. 

According to Eskom, the pilot project includes the procurement of 20 EVs ranging from light delivery vehicles to light trucks for operational use. 

The pilot project also involves the installation of 10 charging stations at five Eskom sites across the country. 

The other sites are Brackenfell in Cape Town, Mkondeni in Pietermaritzburg, Tlhabane Customer Network Centre (CNC) in Rustenburg and Marathon CNC in Mbombela. 

These sites will serve as the foundation for Eskom Distribution’s long-term strategy to electrify its entire fleet by 2040.

“We continue to focus on our long-term strategy to deliver a competitive, sustainable, and future-proof Eskom to ensure energy security, growth, and long-term sustainability for the benefit of South Africa and sub-Saharan Africa,” said General Manager in the Office of the Eskom Group Executive for Distribution, Gabriel Kgabo. 

By investing in eMobility and the charging infrastructure needed for EVs, Kgabo said Eskom was not only reducing its carbon footprint but also stimulating the local economy and creating new growth opportunities. 
Kgabo highlighted Eskom’s support of the government to align South Africa with the global EV ecosystem market. 

Key initiatives include the EV White Paper released by the Department of Trade Industry and Competition in December 2023 and the incentives announced by the National Treasury to encourage the local production of EVs from 2026.

Pilot Project Overview

The recently installed charging stations, in collaboration with Gridcars, feature state-of-the-art direct current fast chargers (60kW) and dual alternating current (AC) chargers (22kW). They are optimised for overnight charging of fleet vehicles and daytime workplace charging for employees and visitors.

The power utility believes this initiative will serve as a blueprint for the future rollout of EVs across Eskom’s entire fleet. 

“It is one of the levers that will steer the organisation towards net zero carbon emissions by 2050 and will also contribute to stimulating the local EV market.

“The successful launch of this infrastructure is a result of the dedicated efforts of the project team within Eskom. Their work is laying the groundwork for a future where electric vehicles play a central role in South Africa’s transportation landscape.” – SAnews.gov.za 

Gabisile
Fri, 08/23/2024 - 10:00

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23 August 2024

Proteas Women’s T20 World Cup Prep Moves To Durban

Location: Sport

DURBAN: In preparation for the upcoming ICC Women’s T20 World Cup 2024, the Proteas Women will convene for a national...

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23 August 2024

Youth is a strategic resource essential for moving the country forward

Location: News

Youth is a strategic resource essential for moving the country forward

The youth is a strategic resource and an intellectual reservoir of ideas essential for moving the country forward, says the Women, Youth and Persons with Disabilities Minister, Sindisiwe Chikunga.

“Our youthful population represents a blessing with limitless potential—a strategic asset for the current and future well-being of this country and continent,” Chikunga said.

Delivering a keynote address at the South African Youth Economic Council (SAYEC) 3rd annual job imbizo, held at Melrose Arch on Thursday evening, Chikunga argued that while the current socio-economic conditions pose a direct threat to national stability and undermine future prospects, it is not the youth who are a threat to national security.

According to Chikunga, the conditions under which the youth continue to exist, create opportunities for both known and unknown threats to emerge and become institutionalised.

“Without a more purposeful, quantifiable, and deliberate investment in their potential and capabilities, South Africa will not be in a position to reap the benefits of its demographic dividend.

“No country on earth has been able to industrialise or re-industrialise while neglecting the role of youth in the economy. A trained, capable, and industrious youth is the crucial ingredient currently missing in South Africa’s industrialisation puzzle,” Chikunga said.

She emphasised that placing the youth at the centre of re-industrialisation must be accompanied by fundamental changes in the structure, systems and institutions.

This must also be accompanied by fundamental changes in patterns of ownership, management, and control of the wealth producing resources in favour of all South Africans, particularly the marginalised, vulnerable and poor, who are primarily Africans and women.

She said youth participation in the economy should not be reduced to hopping from one internship to another.

To prepare the youth for meaningful participation in South Africa’s era of industrialisation, the Minister stressed the need for a reimagined industrial strategy that is both fit for purpose and responsive to rapidly changing global economic patterns.

“These patterns range from automation and the rise of artificial intelligence in manufacturing to the ongoing geopolitical realignment. Such a strategy should be anchored on robust economic and market intelligence in order to enhance the quality of decision-making in support of our goals of productivity, industrialisation, commercialisation, and beneficiation,” Chikunga said.

Chikunga added that addressing youth unemployment requires targeted, sustainable interventions with clearly articulated exit opportunities.

"High levels of youth unemployment require special programs. The National Youth Service Programme must better educate, develop, train, and empower youth, and enable them to participate in the reconstruction of society,” Chikunga said. – SAnews.gov.za

GabiK
Fri, 08/23/2024 - 11:40

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23 August 2024

Women as Global Leaders: Leveraging Unique Qualities

Location: MyPR

By Debra Lalla (Senior Academic – Regent Business School) The role of women in global leadership has become increasingly significant. Women bring unique perspectives and qualities that are not only transforming businesses but also shaping the future of industries and societies at large. Despite the considerable progress made in recent years, female leaders continue to …

Read moreWomen as Global Leaders: Leveraging Unique Qualities
23 August 2024

Canadians Challenge New Naspers CEO Over Work Conditions

Location: News

Fabricio Bloisi assured shareholders that protection for workers was important to him and the group

Read moreCanadians Challenge New Naspers CEO Over Work Conditions
23 August 2024

AI Will Elevate Accounting to New Levels – But Only if You Trust It to Do So

Location: MyPR

By Aaron Harris, CTO of Sage Imagine an era where accountants use AI not just for routine tasks but to gain deeper insights into financial narratives, allow more strategic thinking, and fuel business growth. That future is closer than you think. But it hinges on one critical factor: trust. It’s a common friction point as …

Read moreAI Will Elevate Accounting to New Levels – But Only if You Trust It to Do So
22 August 2024

Hats off to a winning nation

Location: News

Hats off to a winning nation

Cabinet has praised the nation’s sportsmen and women, who continue to proudly fly the flag high in various sporting codes around the world, and further unite the country.

This follows a series of remarkable victories recently, for South African athletes on the global stage.

“These victories demonstrated the power of sport to unite and transcend all boundaries.

“Cabinet encourages South Africans to use unifying moments as an opportunity to reach out to fellow South Africans to build the society that we want to live in,” Minister in The Presidency Khumbudzo Ntshavheni said during a post Cabinet media briefing, on Thursday.

The Springboks, South Africa's rugby world champions, defeated Australia for the second time at the weekend, maintaining their unbeaten record in the Rugby Championship.

In Perth, Dricus du Plessis defended his Ultimate Fighting Championship (UFC) middleweight title with a stunning win over Nigeria’s Israel Adesanya.

The Proteas continued with the winning streak by defeating the West Indies in the second cricket test in Guyana, clinching the series 1-0. 

Meanwhile, Team SA made history at the 2024 Paris Olympics, securing 1 gold, 3 silver, and 2 bronze medals, doubling their medal tally from the 2021 Tokyo Games.

“This achievement will live long in our collective memories,” Ntshavheni said.

She further celebrated the South African relay team -- Bayanda Walaza, Bradley Nkoana, Shaun Maswanganyi and Akani Simbine -- for winning silver in the men's 4x100m relay final, setting a new African record of 37.57 seconds.

Additionally, Jo-Ane van Dyk earned a silver medal in the women's javelin event. – SAnews.gov.za

DikelediM
Thu, 08/22/2024 - 14:09

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22 August 2024

Home Affairs Chairperson Calls for Speedy Conclusion of Assessment of Refugee Reception Closer to Ports of Entry

Location: News

Republic of South Africa: The Parliament
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The Chairperson of the Portfolio Committee on Home Affairs, Mr Mosa Chabane, is distraught about the death of a refugee at the Desmond Tutu Refugee Reception Centre in Pretoria on Tuesday following a reported stampede. The death of another refugee undermines the spirit of South Africa's strong legal and human rights framework on refugees and asylum seekers' rights, as encapsulated in the Refugees Act 130 of 1998, and South Africa's global and regional international refugee law obligations.

Mr Chabane emphasised the need for the Department of Home Affairs to fast-track the finalisation of the assessment of the implications of relocating refugee reception centres closer to ports of entry. The one-stop-shop facility proposal in the White Paper on Citizenship, Immigration and Refugee Protection: Towards a Complete Overhaul of the Migration System in South Africa (2024) makes an argument for refugee reception offices to be located at ports of entry to facilitate immediate assessment of asylum claims.

“It is necessary to have in place refugee reception centres that offer quality services to asylum seekers and refugees to ensure adherence to international obligations and respect to human rights,” Mr Chabane emphasised.

The Chairperson also called on the Department of Home Affairs to work with sister departments to conduct a broad investigation on the causes of the stampeded that resulted in the death. Also, the department must urgently devise strategies to prevent any possible recurrence of this incident.

The committee has a scheduled an oversight visit to the centre in October and hopes that the investigation will establish the cause of the incident.

Distributed by APO Group on behalf of Republic of South Africa: The Parliament.

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