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By Brandon Govender – Enrolment Manager at Regent Business School In the diverse and dynamic landscape of South Africa, the digital divide is a glaring challenge impeding the progress of educational equity and societal advancement. This divide not only separates communities based on their access to technology but also impacts their ability to develop vital …
In the intricate tapestry of the financial and asset management world, valuator services stand as pivotal pillars, offering clarity, precision, and insight into the true value of diverse assets. From tangible assets like land and buildings to the intangible allure of art and antiques, the scope of valuation services is vast and varied, catering to a wide …
Infrastructure project funding under the spotlight
Partnership between the private sector and government, as well as its entities, with regard to the funding of infrastructure projects has taken centre stage at a Southern African Development Community (SADC) panel discussion.
The Government Communication and Information System (GCIS), in partnership with the Department of Water and Sanitation, Infrastructure South Africa (ISA), South African National Roads Agency (SANRAL), and the Industrial Development Corporation (IDC), hosted a virtual discussion focusing on infrastructure.
“The participation of the private sector is key to the delivery of the infrastructure projects, [and] the issue of infrastructure funding is the key if we are to meet the goals set as South Africa and SADC, and the African continent,” Head of Infrastructure South Africa, Mameetsa Masemola, said during the discussion on Friday.
Masemola noted that the National Infrastructural Plan indicates that, just to close the current infrastructure investment gap, South Africa needs something in the region of R5.7 trillion, looking at the priority sectors, including water and sanitation, information and communications technology (ICT), energy, transport, and human settlements.
Masemola said the fiscus alone will not be able to carry and fund these projects, stressing a need to find mechanisms of bringing in the private sector to participate in the delivery of these infrastructure projects.
Highlighting the partnership between SADC and South Africa, the Water and Sanitation Deputy Director-General responsible for Provincial, Entity Governance and International Cooperation, Lindiwe Lusenga, described the collaborations with SADC in supporting the water projects as “excellent”.
Lusenga said partners are willing to put in the funds while also acknowledging the support the department has received from the institutions, including the Global Environmental Funds, and African Development Bank, who have funded feasibility studies for the Lesotho-Botswana Water Transfer Project.
“There is [also] an appetite because of the commitment and the manner in which we intricately commit, and the instruments of governance that we have deployed to enable us to manage these projects, like the Lesotho Highlands Water Project (LHWP). At local level, the industry has come on board, particularly organised business like mining forums that has taken up and assisted the department in local projects,” Lusenga said.
While noting challenges when it comes to funding, SANRAL’s Head of Marketing and Communication, Vusi Mona said the entity has a wonderful working relationship with the region, working through the SANRAL platform.
“We have received a lot of support from the private sector,” Mona said.
Mona also stressed a need to have a matured conversations about how road infrastructure and infrastructure in general is funded.
He also stressed the need to have a serious discussion around the user pay principle, because “we are not going to develop infrastructure without a brazen principle”.
Infrastructure investment
Infrastructure investment is one of South Africa’s critical drivers of economic growth and it also promotes regional integration in the SADC region.
The investment is also a critical driver of future growth of the South African economy, and the provision of superior quality infrastructure allows an economy to be more efficient, improve productivity, and raise long-term growth and living standards.
SADC has made significant progress in regional infrastructure development, including reginal transport and communications systems, which are fundamental to cooperation in the SADC region.
The provision of superior quality infrastructure allows an economy to be more efficient, improves productivity, and raises long-term growth and living standards. – SAnews.gov.za
GabiK
Fri, 02/23/2024 - 14:41
Concern over HIV patients who are not receiving treatment
Health Minister, Dr Joe Phaahla, says he remains concerned by those who are not on antiretroviral therapy (ART) despite knowing their HIV status.
“We are doing extremely well on the number of people living with HIV/AIDS (PLHIV) who know their status. However, we have been struggling to reach a great milestone on the number of people that are on ARTs,” he said on Thursday.
Speaking at the high-level meeting convened in Cape Town by the US President’s Emergency Plan for Aids Relief (Pepfar), Phaahla said a majority of these patients do come for treatment, but they disengage from care due to various factors.
However, he assured delegates that his department is currently addressing the matter, working together with all key role players, notably the PLHIV sector.
Phaahla reported that their interventions have resulted in tracing and linking treatment for just over 1.1 million patients in December 2023, down from 1.4 million in March 2023.
Meanwhile, he said the number of PLHIV virally suppressed has increased by 510 469.
“Through this stakeholder collaboration and backed by the deployment of the community health workers, we hope to bring the many patients back to care.”
He mentioned that the State is making progress towards achieving a new set of ambitious targets.
These targets include ensuring that 95% of all individuals living with HIV are aware of their HIV status, 95% of all individuals diagnosed with HIV infection receive continuous treatment, and 95% of all those on treatment achieve viral suppression by 2025.
The number of estimated new HIV infections in the country has decreased from 164 000 in 2022 to 146 784 in 2023, indicating the effectiveness of interventions in reducing new infections.
According to the latest data, deaths due to HIV are also declining, with an estimation of approximately 44 534 HIV-related deaths in South Africa in 2023.
This marks a reduction of over 50% compared to the last decade’s 92 129 AIDS-related deaths, said Phaahla.
The Minister also touched on the men and children who are living with HIV who are not on treatment.
“While we have seen this steady, though still low progress, we continue to worry because we see fewer men and children being linked to care.
“We need to find 586 192 men and 71 763 children living with HIV and put them on treatment. Whilst for adult women we need to find and treat 530 737.”
He expressed gratitude to the United States government for playing a pivotal role since 1994 and being South Africa's strategic partner.
To end the global HIV/AIDS public health threat by 2030, the United States has made significant progress towards HIV epidemic control with Pepfar support.
The Minister said in April 2022, the Director-General, signed the Country Operational Plan (COP22) to the tune of $455 753 517 for South Africa.
“After the signing of COP22, I and the US Ambassador later signed a mutually beneficial Memorandum of Understanding which provides the overarching leadership on a broad range of health collaborations in June 2022.”
The collaboration based on this memorandum encompasses a wide range of programmes and partnerships including HIV, tuberculosis (TB) and sexually transmitted infections (STIs).
“In the end, I would like to express, unreservedly, the appreciation for the work that is our coordinating body SANAC, UN agencies and other development partners and many others that play a significant role in the HIV/AIDS response in the country.” – SAnews.gov.za
Gabisile
Fri, 02/23/2024 - 15:34
By Pieter Nienaber (Compliance Africa at Crown Records Management South Africa) Pieter Nienaber from Crown Records Management, a global leader in information management, is acutely aware of the paramount importance of data security and privacy in today’s interconnected world. In the realm of global mobility, where individuals and organisations traverse borders for various reasons, safeguarding …
As the university year begins, there is much excitement in the air with a new student cohort starting first year and attending lectures for the first time. Now is a good time for students to start setting their financial goals for the future—a solid financial plan backed up by good money habits can pave the …
Pandor calls on the G20 to help resolve global tensions
International Relations and Cooperation Minister, Dr Naledi Pandor, has challenged G20 nations to address ongoing global tensions, which have been fueled by a variety of developments in recent years.
Pandor drew attention to a few pressing issues including the increasing debt load faced by poor and middle-income countries, inequality, and neglect in certain parts of the world like Palestine.
She highlighted the conflict between Russia and Ukraine, the recent Israel-Gaza war, and related violations of international law and United Nations (UN) guidelines.
The Minister also mentioned that there are several issues, such as trade tensions between major economies, economic decline due to COVID-19, and continuing terrorism and extremism.
“All these have placed the world in a more precarious context and as G20 we must attempt to craft implementable responses,” she said.
Pandor was speaking at the G20 Foreign Ministers Meeting in Brazil on Wednesday.
She believes that the G20 leaders are most suitable to tackle the challenge of providing effective solutions to issues that are leading to conflict, division, insecurity, and growing inequality.
“The world is watching to see whether the most powerful can initiate a reversal of our slide to disaster,” the Minister stressed.
G20, which is also known as the Group of 20, is a forum for international economic cooperation and plays an important role in shaping and strengthening global architecture and governance on all major international economic issues.
“The G20 was conceived to draw together governments that would work together in strategic cooperation to create a platform or global practice that would assist developing countries to overcome poverty inequality and insecurity.
“Our governments acknowledged that changing the material conditions of the poorest was and remains fundamental to maintaining the relevance of G20,” she explained.
She said it was encouraging that following the devastating impact of the COVID-19 pandemic, the group renewed its focus on development compared to the past.
Meanwhile, according to Pandor, if developing countries were to achieve greater progress with the Sustainable Developmental Goals (SDGs), funding would be needed from the multilateral development banks (MDB).
According to the United Nations Development Programme, SDGs, were adopted by the United Nations in 2015 as a universal call to action to end poverty, protect the planet, and ensure that by 2030 all people enjoy peace and prosperity.
“Greater financing and development support could be secured through active support to arrest illicit financial flows from and between African countries given the impact on development illicit finances fuel corruption undermine the rule of law and the stability of markets, yet little has been done to address them,” said the Minister.
The MDBs offer financial and technical assistance to developing countries to improve economic management and reduce poverty.
She told delegates that the multidimensional and transnational nature of illicit financial flows also requires concerted international action.
“G20 could do much to strengthen its important role in acting on this drain of developing countries resources,” she added.
The Minister also called for an urgent need to reform international institutions to make them more able to address development challenges.
She highlighted the Breton Woods Institutions, which she said had been more responsive to development needs.
However, she said much more has to change to enhance and safeguard these changes.
“The international tension we see today requires balanced and fair approaches to global challenges, respect for diversity of opinion and belief and acceptance that global bodies are most successful when they act in the interests of all equally,” she added. – SAnews.gov.za
Gabisile
Thu, 02/22/2024 - 09:38
Government to introduce global minimum corporate tax
Over the next few years, government plans to implement a global minimum corporate tax to limit the negative effects of tax competition.
“Multinational corporations with annual revenue exceeding €750 million will be subject to an effective tax rate of at least 15%, regardless of where their profits are generated. The proposed reform is expected to yield an additional R8 billion in corporate tax revenue in 2026/27,” Finance Minister Enoch Godongwana said on Wednesday in Parliament.
Delivering the 2024 National Budget Speech, Godongwana encouraged interested parties to provide comments on the draft Global Minimum Tax Bill published today.
The draft Global Minimum Tax Bill aims to limit the race to the bottom of effective corporate tax rates for large multinationals, with countries competing to attract income by offering low tax rates and tax incentives.
“Implementing the minimum tax in South Africa will bolster the corporate tax base. South Africa helped develop tax rules to address base erosion and tax challenges arising from the digitalisation of the economy as a member of the Steering Group of the OECD [Organisation for Economic Co-operation and Development] /G20 Inclusive Framework on Base Erosion and Profit Shifting.
“These rules are designed to limit the channels that multinationals use to shift profits from high- to low-tax countries. The 2023 Budget Review outlined the two pillars of this framework, which were endorsed by more than 135 countries in 2021. The first focuses on the digital economy and the coherent tax treatment of multinationals,” the 2024 Budget Review said.
The framework will be implemented through a multilateral convention to ensure that the biggest and most profitable multinationals reallocate part of their profit to all countries where they sell their products and provide their services.
“The second pillar introduces the global minimum tax. It ensures that any multinational with annual revenue exceeding €750 million will be subject to an effective tax rate of at least 15 %, regardless of where its profits are located. Government proposes to introduce two measures to effect this change – an income inclusion rule and a domestic minimum top up tax – for qualifying multinationals from 1 January 2024.
“The income inclusion rule will enable South Africa to apply a top-up tax on profits reported by qualifying South African multinationals operating in other countries with effective tax rates below 15%.
“The domestic minimum top-up tax will enable SARS [South African Revenue Service] to collect a top-up tax for qualifying multinationals paying an effective tax rate of less than 15 % in South Africa,” National Treasury said.
The Explanatory Memorandum and Draft Global Minimum Tax Bill will contain more details on these proposals as well as a request for public input.
Broadening the tax base
“Our long-term tax policy strategy remains focused on broadening the tax base while improving tax compliance and administrative efficiency. Visible progress has been made in rebuilding and modernising the South African Revenue Service.
“The tax authority has expanded the tax register, improved debt collections and reduced fraudulent refunds and trade valuations. This has led to improvements in revenue collection,” the Minister said.
To address the high levels of illicit tobacco, SARS is deploying CCTV and related technologies at licensed tobacco manufacturers.
“Investigations and prosecutions have resulted in R10 billion in additional assessments from the key players in the illicit gold and tobacco industry, of which over R4 billion from key players in the illicit gold and tobacco industry.
“These and other efforts have assisted with the improvement in revenue. Our bigger challenge, as I have stated earlier, is that our pie is not growing fast enough and this limits our ability to generate sufficient revenues to distribute among our priority areas,” Godongwana said. –SAnews.gov.za
nosihle
Wed, 02/21/2024 - 14:08
Economic growth to stay low over the next three years
South Africa’s economy is expected to grow at some 1.6% over the next three years, with real Gross Domestic Product (GDP) reaching 0.6% in 2023.
“Despite the improved global outlook for 2024, South Africa’s near-term growth remains hamstrung by lower commodity prices and structural constraints. We estimate real GDP growth of 0.6% in 2023. This is [revised] down from 0.8% growth estimated during the 2023 MTBPS [Medium Term Budget Policy Statement].
“The revision is due to weaker-than-expected outcomes in the third quarter of 2023, particularly in household consumption and fixed investment,” said Finance Minister Enoch Godongwana, who delivered the Budget Speech at the Cape Town City Hall on Wednesday.
Godongwana said despite this, between 2024 and 2026, growth is projected to average 1.6%.
“The growth outlook is supported by the expected easing of power cuts as new energy projects begin production, and as lower inflation supports household consumption and credit extension.
“But, there are also risks to the domestic outlook. These include persistent constraints in electricity supply, freight rail and ports, and a high sovereign credit risk. Our challenge… is that the size of the pie is not growing fast enough to meet our developmental needs,” he said.
National Treasury’s 2024 Budget Review explained that load shedding and challenges in freight rail and the ports “continue to disrupt economic activity and limit the country’s export potential”.
“Comprehensive reforms are underway in these sectors, although it will take time to see a recovery in growth. Household consumption is under pressure from high living costs, and investment remains low due to weak confidence and challenging business conditions linked to structural constraints.
“To turn the tide and raise economic growth sustainably, government is prioritising energy and logistics reforms, along with measures to arrest the decline in state capacity.
“Successful efforts to improve the fiscal position, complete structural reforms and bolster the capacity of the State will, in combination, reduce borrowing costs, raise confidence, increase investment and employment, and accelerate economic growth,” National Treasury said.
The department said as reforms begin to bear fruit, GDP will be on the rise.
“[This] as the frequency of power cuts declines, lower inflation supports household consumption, and employment and credit extension recover gradually. New energy projects will improve fixed investment and business sentiment.
“To accelerate GDP growth after an extended period of weak economic performance, South Africa needs large‐scale private investment. Government is working to improve the fiscal position, complete structural reforms and bolster the capacity of the State to reduce borrowing costs, raise confidence, increase investment and put the economy on a higher, job‐creating growth path,” Treasury said.
Meanwhile, global growth is forecast higher at some 3.1% for 2024 and 3.2% for 2025.
“The moderate improvement is due to better‐than‐expected growth in the second half of 2023, particularly in the United States and several large emerging market economies, as well as fiscal support for disaster relief in China.
“Robust US economic growth has partially offset weaker‐than‐expected outcomes in the Euro area, which, nevertheless, is expected to recover gradually. Commodity prices are expected to continue to decline in 2024 and 2025,” Treasury said. – SAnews.gov.za
NeoB
Wed, 02/21/2024 - 14:13
S.Pellegrino Young Chef Academy Competition 2024-25 will turn the spotlight on the best culinary talents who hold the future of gastronomy in their hands: applications open 21st February. Cape Town, South Africa, 21st February 2024 – S.Pellegrino announces a new edition of the S.Pellegrino Young Chef Academy Competition, the global initiative to discover and mentor …
JOHANNESBURG: The stage is set for the inaugural International Masters Cricket Over-40s World Cup, scheduled to commence on Monday, 19...
Today marks a significant milestone for DARJYO as it announces a strategic move into the agricultural space, embracing the challenges and opportunities presented by the evolving world of Agritech. Founder and Technical Co-founder, Darshani Persadh, shared insights into the startup’s motivation for this transition, emphasizing the potential for technology to revolutionize traditional agricultural practices. “In …
CAPE TOWN, 19 February 2024: Thought leaders, policy makers and investors with an interest in Africa’s green economy transition are gathering in Cape Town ahead of this week’s Africa’s Green Economy Summit, taking place in the city from 21-23 February 2024. The summit, now in its second year, is centred around connecting the global investment …
TCL Electronics, a global leader in television manufacturing and innovation, is pioneering the future of home entertainment with its advanced Mini LED television technologies. In the ever-evolving landscape of television technology, selecting the perfect TV can be a daunting task. However, for those who seek the next level in home entertainment, TCL unpacks four reasons …
Introduction The sport of padel has captured the hearts of many, offering a unique blend of intensity and finesse. Central to the experience is the choice of racket – a choice that can significantly influence a player’s performance on the court. Among the elite brands that stand out in the manufacturing of padel rackets, adidas …
In the few months that the three-legged leopard tortoise has lived at Crocworld Conservation Centre, it has already befriended a fellow ‘tripod’ tortoise who is also being rehabilitated at the Scottburgh centre. To make the latest Crocworld resident really feel part of the family, the team at Crocworld is calling on the public to suggest …
SA strengthens its response to climate change
South Africa is enhancing its efforts to address climate change by introducing the Climate Change Response Fund aimed at fostering collaboration between government and the private sector to effectively tackle environmental challenges.
This is according to President Cyril Ramaphosa, who addressed the nation through his weekly newsletter on Monday.
“For our part, South Africa has established a Climate Change Response Fund that will bring together all spheres of government and the private sector. By coordinating financial mobilisation from both government and the private sector, our country will have collaborative efforts to build resilience and respond to climate change.
“This includes climate-proofing existing essential infrastructure and facilities, such as water and food systems, roads, rail and ports, human settlements and health care.
“The fund will also collaborate with a variety of partners to respond to immediate needs in communities following climate change related disasters,” the President said.
The fund forms an important part of South Africa’s comprehensive response to climate change, which includes both adaptation and measures to mitigate greenhouse gas emissions.
President Ramaphosa has just returned from the African Union Summit in Addis Ababa, Ethiopia, where the worsening effects of climate change on the continent were raised prominently.
African leaders have been advocating for urgent, practical and stepped up climate action, given the continent’s extreme vulnerability to the effects of global warming.
“We have seen a rapid increase in climate-related disasters worldwide as extreme weather events become more frequent. In our own country, we have had wildfires in the Western Cape, heatwaves in the Northern Cape, continuing drought conditions in the Eastern Cape and intense storms in Gauteng.
“Even before we could properly recover and rebuild after the 2022 floods in KwaZulu-Natal, Eastern Cape and North West, we were hit again this year with more flooding, further loss of life and damage to livelihoods, property and the local economy,” he said.
President Ramaphosa said the insurance industry is warning about the increasing costs of disaster risk finance, and the prospect of highly vulnerable regions eventually becoming uninsurable.
As noted during the AU Summit, the President explained that the African climate action is constrained by inadequate and unpredictable climate finance.
“It has long been the continental position that those most responsible for climate change and its impacts, namely developed countries, bear a responsibility to assist developing countries to build climate resilience.
“We therefore welcomed the historic agreement at the UN Climate Conference in the United Arab Emirates in December last year to operationalise a Loss and Damage Fund to provide financial support for developing countries that are vulnerable to the impact of climate change. South Africa and the African Group were key to securing this agreement,” the President said.
At the same time, the President said, African countries are forging ahead with plans to mobilise resources in support of climate action across the continent, and the AU Commission has recently established a Climate Finance Unit to ensure this is done in a coordinated manner.
The President emphasised that as a country, South Africa cannot be complacent about climate change because its impacts are already being felt.
“We will continue to contribute our fair share to the global climate change effort. Our country will remain vocal in calling for developed countries to meet their obligations for financing and technology transfer support.
“We will continue to campaign for transformation of the international financial architecture and reform of multilateral development banks and international financial institutions so that developing countries can access the resources needed for climate action and the implementation of the sustainable development goals,” he said.
The President committed to continue to campaign against the implementation of climate and environment based unilateral actions, policies and taxes and their potential impacts on African exports and trade.
“Climate change is a global problem and as such, requires collective global action that is sustainable, that takes the differing circumstances and capabilities of countries into account, and that above all, leaves no-one behind,” President Ramaphosa said. – SAnews.gov.za
DikelediM
Mon, 02/19/2024 - 13:12
Kaspersky (www.Kaspersky.co.za) experts discussed the evolution of the cyberthreat landscape in the region during its 9th annual Cyber Security Weekend – META 2024, held in Kuala Lumpur, Malaysia. The focal point of the discussions was the security of emerging technology trends such as Artificial Intelligence (AI), that are influencing the scale of modern threats. In parallel, threats targeting industrial control systems within critical infrastructure, in the Middle East, Africa, and Asia were also discussed. Kaspersky's Cyber Immunity approach took centre stage as a way to create solutions that are virtually impossible to compromise and that minimise the number of potential vulnerabilities.
In the African region, Kaspersky's telemetry showed the number of overall cyberthreats in South Africa decreased by 29% in 2023 as compared to 2022. At the same time, phishing attacks that use social engineering tactics to scam people into revealing sensitive information rose by 29%. Over the same period, Kenya saw a decrease in overall threats by 8% while an increase was seen in ransomware attacks by 68%, backdoors by 47%, exploits by 22% and phishing by 19%. Nigeria saw an overall decrease in all threats by 10% while banking malware attacks designed to collect online banking credentials and other sensitive information from infected machines increased by 8%.
According to Kaspersky's analysis, online threats caused by vulnerabilities on web pages, in emails or webservices, have fluctuated significantly in the region. Turkiye saw the highest number of users affected by online threats (41.8%), followed by Kenya (39.2%), Qatar (38.8%) and South Africa (35%). Fewer users were affected in Oman (23.4%) and Egypt (27.4%) followed by Saudi Arabia (29.9%) and Kuwait (30.8%).
“As the cybersecurity landscape evolves, cyber threats continue to become diverse and sophisticated. This trend is particularly evident due to the emergence of advanced technologies like AI and the escalating geopolitical and economic turbulence within the Middle East, Turkiye, Africa (META) region. These factors collectively contribute to the surge in cybercrime and the heightened complexity of cyberattacks,” comments Amin Hasbini, Director of META Research Center Global Research and Analysis Team (GReAT), Kaspersky.
Distributed by APO Group on behalf of Kaspersky.
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About Kaspersky:
Kaspersky is a global cybersecurity and digital privacy company founded in 1997. Kaspersky's deep threat intelligence and security expertise is constantly transforming into innovative solutions and services to protect businesses, critical infrastructure, governments and consumers around the globe. The company's comprehensive security portfolio includes leading endpoint protection, specialized security products and services, as well as Cyber Immune solutions to fight sophisticated and evolving digital threats. Over 400 million users are protected by Kaspersky technologies and we help over 220,000 corporate clients protect what matters most to them. Learn more at www.Kaspersky.co.za.
After a spate of achievements on the global sports stage, South Africa has yet another star showing the world what we’re capable of as Pretoria-born singer/songwriter FILIPA competes against Portugal’s finest talent in the country’s Festival da Canção 24, organised by the national broadcasters, RTP. Festival da Canção is one of Portugal’s most high-profile music …
Canon Central and North Africa (Canon-CNA.com), a global leader in imaging solutions, is pleased to announce a transformative partnership with MindMe International (MMI), a registered NGO based in Kenya. This collaboration aims to empower marginalized communities through sustainable development, with a focus on fostering positive change in young individuals' lives.
Central to this collaboration is the shared objective of transforming young participants into effective storytellers. The programme's structured approach includes providing access to equipment, teaching photography skills, showcasing examples and case studies, and guiding participants to tell their stories authentically. Upon completion of the programme, participants will be awarded certificates by Canon, to acknowledge their dedication and accomplishments.
“Canon is proud to partner with MindMe International on this impactful initiative, empowering young individuals to become creative storytellers who can authentically represent their communities. Through the Young People Programme, we aim to provide these young talents with the tools and skills needed to make a lasting impact in their communities and beyond,” says Jeanine El Moughrabi, Developing Regions Sustainability Manager
The programme, officially commenced on 8 February 2024, and kicked off with an introductory event on 1 February. MindMe International, dedicated to eradicating extreme poverty through localized development, will work hand in hand with Canon to run a three-month initiative targeting young people between 11 and 17 years. The workshops are being held at Woodcreek School in Kiambu County, Kenya, with 20 participants.
An integral part of the collaboration is the commitment to the United Nations Sustainable Development Goals (SDGs). Through the Young People Programme (YPP), Canon and MindMe International envision empowering the youth to amplify the SDGs through their narratives. The aim is not only to equip young individuals with practical skills but also to inspire them to become advocates for positive change in their respective communities.
With the initiative running for three months, it allows for the outcomes to be accurately monitored to evaluate the programme's success and impact. The program comprises 12 workshops scheduled every Thursday, that commenced on February 8th and will conclude on May 30th, along with the utilization of Canon EOS 4000D cameras.
The culmination of the initiative will be marked by an engaging exhibition showcasing the creative images produced by the young participants. This exhibition will provide a platform for the youth to express themselves creatively and share their unique perspectives on sustainability and community development. Local suppliers in Kenya will be involved in printing toolkits and resource materials for the exhibition, contributing to a positive economic ripple effect and promoting environmental sustainability.
This collaboration builds on the success stories of similar initiatives, such as Kgaugelo Neville Ngomane, a participant in the Young People Programme South Africa, who won the CIWEMs International Young Environmental Photographer of the Year Award. This partnership is poised to create more success stories, scholarships, jobs, and internships for the young participants, emphasizing the potential for meaningful impact.
Carol Kiiru, Director-MindMe International: “MindMe International envisions a world where sustainable development is accessible to all, breaking the chains of extreme poverty. Through our collaboration with Canon in the YPP, we strive to empower marginalized youth, aligned in our Education and Youth (Arts and Digital empowerment) programmes providing them with the tools to tell their stories and advocate for positive change. By fostering creativity, skills, and community engagement, we are aligning with the SDGs and shaping a future where every voice, regardless of background, contributes to building a society free from inequality and poverty.”
Through this partnership, Canon and MindMe International send a powerful message about the significance of empowering young people to be agents of positive change in their communities. Young voices, when equipped with the right skills and platforms, can inspire, and drive social change. In addition, the collaboration serves as an outstanding example of how private and non-profit sectors can work together to contribute to a more sustainable and equitable future.
Distributed by APO Group on behalf of Canon Central and North Africa (CCNA).
Media enquiries, please contact:
Canon Central and North Africa
Mai Youssef
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About Canon Central and North Africa:
Canon Central and North Africa (CCNA) (Canon-CNA.com) is a division within Canon Middle East FZ LLC (CME), a subsidiary of Canon Europe. The formation of CCNA in 2016 was a strategic step that aimed to enhance Canon's business within the Africa region - by strengthening Canon's in-country presence and focus. CCNA also demonstrates Canon's commitment to operating closer to its customers and meeting their demands in the rapidly evolving African market.
Canon has been represented in the African continent for more than 15 years through distributors and partners that have successfully built a solid customer base in the region. CCNA ensures the provision of high quality, technologically advanced products that meet the requirements of Africa's rapidly evolving marketplace. With over 100 employees, CCNA manages sales and marketing activities across 44 countries in Africa.
Canon's corporate philosophy is Kyosei (https://apo-opa.co/3SvVhrS) – ‘living and working together for the common good'. CCNA pursues sustainable business growth, focusing on reducing its own environmental impact and supporting customers to reduce theirs using Canon's products, solutions and services. At Canon, we are pioneers, constantly redefining the world of imaging for the greater good. Through our technology and our spirit of innovation, we push the bounds of what is possible – helping us to see our world in ways we never have before. We help bring creativity to life, one image at a time. Because when we can see our world, we can transform it for the better.
For more information: Canon-CNA.com
RS South Africa (https://Africa.RSdelivers.com/), a trading brand of RS Group plc (LSE: RS1), a global provider of product and service solutions for industrial customers, with over 80 years of technological expertise, is set to participate in the MTE Show in Jwaneng, Botswana, on the 8th of March 2024.
With a legacy spanning over 80 years, RS is a global distributor specialising in a diverse range of services, including Maintenance, Repair, and Operations (MRO) solutions for Corporates and Industrial customers. The company's commitment to technological excellence has positioned it as an industry leader, offering comprehensive solutions that cater to the unique needs of businesses worldwide.
MRO procurement encompasses a wide range of products and services, including spare parts, consumables, tools, safety equipment, maintenance services, and facility management services. These items are essential to ensure the smooth operation, reduced downtime and upkeep of a company's assets. The concept of MRO procurement involves optimising the supply chain to ensure the timely availability of required items while minimising process costs. This includes activities such as identifying reliable suppliers, negotiating favourable contracts, managing inventory levels and streamlining the procurement process.
One of the key highlights of RS MRO solution (https://apo-opa.co/4bFc2I9) is the seamless automation of the purchasing process, streamlining processes and enhancing efficiency for businesses. By incorporating cutting-edge procurement technology, RS ensures that MRO tasks are executed with precision and speed, delivering optimal results for its clients.
Prosper Shoniwa, Exports Sales Manager at RS South Africa, emphasises the company's commitment to providing top-notch MRO solutions: "At RS, we take pride in being pioneers in the MRO space on the continent. Our consolidated MRO offerings and the automation solutions showcase our dedication to efficiency, reliability, and innovation. We invite all forward-thinking corporations to join us at the MTE Show and explore how RS can add substantial value to their operations."
RS collaborates with the Chartered Institute of Procurement & Supply (CIPS) globally for extensive research, ensuring its solutions remain at the forefront of industry innovation. CIPS is a global professional body that sets the standard for excellence in procurement and supply management. This collaboration enhances RS ' procurement and supply chain practices, providing access to industry-leading research, best practices, and expertise, ultimately adding value to the customers' operations.
Sharleen Naicker, Digital Marketing Executive, and Charles Nkogatse, Internal Key Account Manager, key representatives from RS, will be present at the MTE Show, ready to engage in discussions with businesses looking to enhance their MRO capabilities. They will be available to share insights into how RS can serve as a strategic partner for companies seeking innovative MRO solutions.
RS recognises the importance of MRO procurement and offers a comprehensive range of products and services to support organisations in this area. Through our vast product portfolio, including our in-house brand, RS Pro, we enable customers to source MRO products efficiently, helping them maintain their operations, reduce downtime, and control costs.
For those interested in delving deeper into RS MRO solutions and strategic partnerships, a comprehensive whitepaper, based on research conducted in collaboration with CIPS, is available for download from the RS website: https://apo-opa.co/4bKTIgI.
For more information on the diverse solutions that can add value to your operations, visit https://Africa.RSdelivers.com/.
Distributed by APO Group on behalf of RS South Africa.
PR Contact Person – RS South Africa:
Princess Tlou
Communications & Content Specialist
Africa Exports
Princess.Tlou@rsgroup.com
+27 11 691 9366
Media Contact Person – NGAGE:
Thobile Ndlovu
PR Account Executive
thobile@ngage.co.za
+27 11 867 7763
Further information is available via these links:
Twitter : https://apo-opa.co/3T0ICwS
LinkedIn: https://apo-opa.co/3I5UIyE
Facebook: https://apo-opa.co/3T2j16J
RS Africa Exports: https://apo-opa.co/42GY3gZ
RS South Africa: https://apo-opa.co/48m0si7
DesignSpark: https://apo-opa.co/4bJaCwo
RS Group plc: https://apo-opa.co/49isz2Z
About RS Group:
RS is a trading brand of RS Group plc, providing product and service solutions that help our customers design, build, maintain, repair and operate industrial equipment and operations, safely and sustainably. We stock more than 750,000 industrial and electronic products, sourced from over 2,500 leading suppliers, and provide a wide range of product and service solutions to 1.1 million customers.
We support customers across the product lifecycle, whether via innovation and technical support at the design phase, improving time to market and productivity at the build phase, or reducing purchasing costs and optimising inventory in the maintenance, repair and operation phase. We offer our customers tailored product and service propositions that are essential for the successful operation of their businesses and help them save time and money.
RS Group plc is listed on the London Stock Exchange with stock ticker RS1 and in the year ended 31 March 2023 reported revenue of £2,982 million.
Report forecasts stronger growth for Africa in 2024, outpacing projected global average; Continent is second-fastest-growing region after Asia.
Africa will account for eleven of the world's 20 fastest-growing economies in 2024, the African Development Bank Group said in its latest Macroeconomic Performance and Outlook (MEO) of the continent released on Friday.
Overall, real gross domestic product (GDP) growth for the continent is expected to average 3.8% and 4.2% in 2024 and 2025, respectively. This is higher than projected global averages of 2.9% and 3.2%, the report said.
The continent is set to remain the second-fastest-growing region after Asia.
The top 11 African countries projected to experience strong economic performance forecast are Niger (11.2%), Senegal (8.2%), Libya (7.9%), Rwanda (7.2%), Cote d'Ivoire (6.8%), Ethiopia (6.7%), Benin (6.4%), Djibouti (6.2%), Tanzania (6.1%), Togo (6%), and Uganda at 6%.
“Despite the challenging global and regional economic environment, 15 African countries have posted output expansions of more than 5%,” Bank Group President Dr Akinwumi Adesina said, calling for larger pools of financing and several policy interventions to further boost Africa's growth.
Africa's Macroeconomic Performance and Outlook, a biannual publication released in the first and third quarters of each year, complements the existing African Economic Outlook (AEO), which focuses on key emerging policy issues relevant to the continent's development.
The MEO report provides an up-to-date evidence-based assessment of the continent's recent macroeconomic performance and short-to-medium-term outlook amid dynamic global economic developments.
The latest report is calling for cautious optimism given the challenges posed by global and regional risks. These risks include rising geopolitical tensions, increased regional conflicts, and political instability—all of which could disrupt trade and investment flows, and perpetuate inflationary pressures.
President Adesina emphasised that fiscal deficits have improved, as faster-than-expected recovery from the pandemic helped shore up revenue.
He explained further: “This has led to a stabilisation of the average fiscal deficit at 4.9% in 2023, like 2022, but significantly less than the 6.9% average fiscal deficit of 2020. The stabilisation is also due to the fiscal consolidation measures, especially in countries with elevated risks of debt distress.”
He cautioned that with the global economy mired in uncertainty, the fiscal positions of the African continent will continue to be vulnerable to global shocks.
The report shows that the medium-term growth outlook for the continent's five regions is slowly improving, a pointer to the continued resilience of Africa's economies.
Presenting the key findings of the report, the African Development Bank's Chief Economist and Vice President, Prof. Kevin Urama said: “Growth in Africa's top-performing economies has benefitted from a range of factors, including declining commodity dependence through economic diversification, increasing strategic investment in key growth sectors, and rising both public and private consumption, as well as positive developments in key export markets.”
He added: “Africa's economic growth is projected to regain moderate strength as long as the global economy remains resilient, disinflation continues, investment in infrastructure projects remains buoyant, and progress is sustained on debt restructuring and fiscal consolidation.”
“The future of Africa rests on economic integration. Our small economies are not competitive in the global market. A healthy internal African trade market can ensure value-added and intra-African production of manufactured goods,” said Commissioner for Economic Development, Trade, Tourism, Industry and Minerals, African Union Commission, Ambassador Albert Muchanga.
He assured that the MEO forecast, and recommendations will be made available to African heads of state and that the report will be useful when the African Union makes its proposals to the G20- an informal gathering of many of the world's largest economies to which the African Union was admitted last year.
The improved growth figure for 2024 reflects concerted efforts by the continent's policymakers to drive economic diversification strategies focused on increased investment in key growth sectors, as well as the implementation of domestic policies aimed at consolidating fiscal positions and reversing the increase in the cost of living and boosting private consumption.
Speaking remotely, Zimbabwe's Minister of Finance and Economic Development, Prof Mthuli Ncube described the report as being “on point” and consistent with the reality in his country, describing it as useful for economic planning across Africa. He urged the African Development Bank to continue its thought leadership to help policymakers continue to build resilience to withstand shocks and drive growth.
Ncube said: “Zimbabwe expects slower growth due to climate shocks in the region. Southern African countries depend on agriculture for economic growth, so climate-proofing agriculture is key. We are in talks with creditors to restructure its debt, which is slowing economic growth. Internally, the country will focus on economic and governance reforms and reforms around property rights to increase agricultural production.”
Up to 41 countries across the continent will in 2024, achieve an economic growth rate of 3.8%, and in 13 of them, growth will be more than 1 percentage point higher than in 2023.
Director of the Center for Sustainable Development, Columbia University Prof Jeffrey Sachs noted that long-term affordable financing must be part of Africa's strategy to achieve growth of 7% or more per year and warned that Africa is paying a very high-risk premium for debt financing. He called for this point to be made to the G20.
“Long-term development cannot be based on short-term loans. Loans to Africa should be at least 25 years or longer. Short-term borrowing is dangerous for long-term development. Africa must act as one, in scale,” he explained.
Sachs, who is also the UN Secretary-General António Guterres' Advocate for Sustainable Development Goals also called for a much larger African Development Bank, better resourced to meet Africa's financing needs.
Overview of economic outlook across regions
The confluence of shocks notwithstanding, the resilience of the continent's economies remains strong, with positive growth projected for the continent's five regions.
Driving faster and more sustainable economic growth
The 2024 MEO says in the short term, tackling persistent inflation will need a mix of restraining monetary policy coupled with fiscal consolidation and stable exchange rates.
The report identifies structural reforms and strategic industrial policies as key to accelerating economic diversification and strengthening the export sector.
It recommends that countries invest more in human capital and pursue a resource-based industrialisation and diversification strategy that allows the continent to exploit its comparative advantage and build resilience to shocks.
Distributed by APO Group on behalf of African Development Bank Group (AfDB).
Media Contact:
Emeka Anuforo
Communication and External Relations Department
media@afdb.org
About the African Development Bank Group:
The African Development Bank Group (AfDB) is Africa's premier development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). On the ground in 34 African countries with an external office in Japan, the AfDB contributes to the economic development and the social progress of its 54 regional member states. For more information: www.AfDB.org
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