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Africa Data Centres (www.AfricaDataCentres.com), a business of Cassava Technologies, a pan-African technology group, has announced it is expanding its CPT1 facility in Cape Town.
This expansion shows the data centre giant adding three new state-of-the-art halls in new areas on the campus and adds another 6MW of IT load, effectively doubling its current capacity. The new expansion was implemented with support from the United States through an up to $300 million loan from the U.S. International Development Finance Corporation (DFC) to Africa Data Centres.
According to Hardy Pemhiwa, President & Group CEO of Cassava, “This expansion by Africa Data Centres is in response to the increasing demand for co-location capacity in South Africa. Not only is Cape Town the second largest economy in South Africa, but it is also the de facto software and technology hub in Southern Africa.”
The company is seeing tremendous growth in the data centre market in South Africa generally, as both national and international cloud and IT service providers seek to expand their footprints in the region.
In terms of size, the expansion adds 1000 racks of white space or the space available for customers to lease, although the physical site is significantly larger than that. It is made up of two more colocation data halls and one hyperscale hall.
The additional halls are built in the cutting-edge modular design pioneered by Africa Data Centres, which enables rapid scalability and a modern design that allows the facility to be populated as and when required to suit the needs of the customer.
Pemhiwa says this would not have been possible without the support of the Ministry of ICT, Western Cape Provincial Government and the Western Cape Department of Economic Development. “I would like to acknowledge their ongoing support, as we expand our data centre facilities in South Africa.”
The new halls feature the same cutting-edge security standards and focus on the elements that matter most to clients, including scalability, flexibility, and energy efficiency, to bring world-class, affordable solutions to all its clients in the area. This data centre is highly flexible and designed to accommodate different and evolving customer demands.
Additionally, this data centre boasts hybrid cooling technology capable of handling both air cooling and liquid cooling. Despite its versatility, no compromises were made on efficiency. It is one of the most efficient and sustainable data centres ever built in South Africa. It is powered by renewable energy, boasts a Water Usage Effectiveness of 0 due to no water consumption for the IT infrastructure, and has an impressive Power Usage Effectiveness rating as well.
The Africa Data Centres' CPT1 facility is at the forefront of pioneering the use of wheeled solar power in the market. This innovation is enabled through a 20-year Power Purchase Agreement (PPA) signed in March last year with Distributed Power Africa, part of the Cassava Technologies group. Africa Data Centres is the first company to successfully implement this groundbreaking technology in Africa, marking it the continent's first project of its kind.
“The introduction of wheeled solar power at the CPT1 facility offers significant benefits to our' customers, providing a truly sustainable data centre solution. As the demand for data continues to skyrocket across Africa, a continent where power supply is often intermittent, the need for reliable, cost-effective, and green power has never been more critical,” said Finhai Munzara, Interim CEO of Africa Data Centres.
By harnessing renewable energy, he says the CPT1 facility not only ensures consistent power supply but also supports sustainable operations, helping customers achieve their environmental goals. “Our state-of-the-art facility reduces reliance on non-renewable energy sources, setting a new standard for sustainability in the data centre industry.”
Munzara adds that Cape Town is an excellent location for colocation facilities as it is a stone's throw away from all the submarine cable landing stations. In addition, the Cape Town facility houses the Cape Town Internet Exchange (CINX), which makes multi-region peering more accessible, efficient, and easy to manage. This also facilitates direct connections between networks, enabling data to flow more efficiently and reducing latency, giving our users a faster, more responsive online experience.
In ending, Munzara says the expansion increases the capacity of the company's data centres in South Africa and it is an integral part of its investment plans to deliver several additional data facilities across the continent.
Distributed by APO Group on behalf of Africa Data Centres.
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About Africa Data Centres:
Africa Data Centres owns and operates Africa's largest network of interconnected, carrier and cloud-neutral data centre facilities. Bringing international experts to the pan-African market, Africa Data Centres is a trusted partner for rapid and secure data centre services and interconnections across Africa. Strategically located in South, East and West Africa our world-class data centre facilities provide a home for all business-critical data for Africa's small, medium and large enterprises and global hyper scale customers. https://www.AfricaDataCentres.com/
Department works to secure water for all
The Ministry and Department of Water and Sanitation, under the new administration, has committed to continue to ensure the implementation of all water projects without delay, and improved water and sanitation services.
Giving an update on the progress made in the water projects, which were previously delayed, Water and Sanitation spokesperson, Wisani Mavasa said in order to ensure water security, government is focusing on investing in additional national water resource infrastructure. This includes building awareness of the need to use water sparingly, and improving municipal water and sanitation services.
Mavasa acknowledged that in the past, water projects have been subjected to unacceptable delays.
However, good progress has since been made in recent years in unblocking and accelerating the delayed projects.
She highlighted that there are currently 14 major national water resource infrastructure projects valued at more than R100 billion, which are in different stages of implementation around the country.
Among the projects which have been unblocked, include the Lesotho Highlands Water Project Phase Two, uMkhomazi Water Project and the raising of the wall of the Hazelmere Dam in KwaZulu Natal, construction of Ntabelanga Dam on the uMzimvubu River in the Eastern Cape.
This also includes the raising of the Clanwilliam Dam wall in Western Cape, the Giyani Water Supply Project in Limpopo, and the Loskop Regional Bulk Water Supply Project in Mpumalanga and Limpopo.
“In addition to unblocking and accelerating these projects, Parliament recently passed the National Water Resource Infrastructure Agency Bill, which will result in the establishment of an agency with a balance sheet which will enable substantially more funds to be raised for investment in national water resource infrastructure,” Mavasa said.
Water supply disruptions
Mavasa noted an increase in water supply disruptions in Gauteng and in eThekwini, which has resulted in hardship for residents.
According to the department, the demand for water in both areas is largely due to population growth.
The growth in demand was anticipated by planners, and new national water resource infrastructure projects were planned to meet it, unfortunately, the start of the projects was delayed.
“The new Polihali Dam and associated infrastructure, which is part of Phase Two of the Lesotho Highlands Water Project, was due to be completed in 2019 to enable additional water to be supplied to the Integrated Vaal River System, which in turn is the main source of water for Gauteng.
“This project was unblocked, and the main contracts were all awarded in October 2022 and construction is now fully underway and is due to be completed by 2028.
“Similarly, the start of the uMkhomazi project to supply additional water to eThekwini and surrounding municipalities was delayed by nine years, due to concerns about its affordability in terms of the tariffs that would have to be charged to the residents of eThekwini. The affordability problem was resolved in 2023 with the approval by National Treasury of an application by DWS, with the support of the Presidential Infrastructure Fund, for a blended finance solution for the funding of the project which made the tariff more affordable,” she explained.
Among the solutions reached included a 25% interest-free loan and a 25% grant from the national fiscus, and this enabled the eThekwini Municipal Council to approve the water supply agreement on 31 January 2024.
The department has now started to raise the finance for the project and to commence with implementation. Work on the design of the dam and tunnel for the uMkhomazi project has started.
The department also noted the delays in a project to raise the Hazelmere Dam wall to further increase water supply to eThekwini Municipality and surrounding areas in KwaZulu-Natal, which started in 2011. This was due to contractual disputes between the department and the main contractor.
“The contract with the main contractor was terminated in 2018, resulting in a halt to the project. This was resolved in 2021, and the project was completed in 2023.”
Ntabelanga and Clanwilliam Dam upgrades
The department further noted that the construction of Ntabelanga Dam on a tributary of the uMzimvubu River in the Eastern Cape, which was planned to provide additional water for domestic and irrigation use was delayed because the department was unable to successfully motivate for a budget to be allocated to the project.
“The department resolved this blockage in 2023, by reconfiguring the project to reduce its cost while still providing the same benefits. The reconfiguration involved adopting a brown fields approach to water services infrastructure rather than the previous green fields (upgrading existing bulk water supply infrastructure rather than build new infrastructure).
“The reconfiguration of the project resulted in a decrease in the cost of the project from R18 billion to R8 billion, and National Treasury then agreed to fund the reconfigured project from the fiscus. As a result, site preparations and the process to obtain the license to construct the dam are currently underway and construction of the dam wall will commence by October 2024.”
A project to raise the wall of the Clanwilliam Dam in the Western Cape, resulting in a tripling of the volume of water than can be stored in the dam, was also started in 2013, but the implementation of the project was delayed due to budget constraints and several changes in construction approach.
As a result, by 2023 the project was only 10% complete. The delays have since been addressed, and the project is now fully funded and major construction work is currently underway.
Loskop Regional Bulk Water Supply project
The major Loskop Regional Bulk Water Supply project to increase water supply to Thembisile Hani Local Municipality in Mpumalanga and the Moutse-East area under the Sekhukhune District Municipality in Limpopo, has since been unblocked with construction having begun in 2022.
The project was originally planned to commence in 2019 but was delayed because of funding constraints and poor planning by the department.
The construction of a new bulk pipeline from Loskop Dam in Mpumalanga to Thembisile Hani Local Municipality and associated infrastructure is also underway.
Giyani Water Supply project
The Giyani Water Supply Project, which has been delayed for many years, and been the subject of investigations by the Special Investigations Unit, has since been unblocked and accelerated over the last two years.
Mavasa highlighted that the main bulk pipeline from Nandoni Dam to Nsami Dam near Giyani was completed last year, and projects are currently underway to refurbish and increase the capacity of the Giyani Water Treatment Works and to install bulk reticulation lines, bulk reservoirs, service reservoirs and reticulation to households.
“Water has started to flow to households in nine of villages in Giyani and we will strive to ensure a further 15 villages receive water by the end of August this year, and that a further 31 villages receive water within the next two years.”
Water Services Amendment Bill
In addition to assisting municipalities to improve their water and sanitation infrastructure, the department has proposed amendments to the Water Services Act, to address the poor municipal performance illustrated by the results of the Blue, Green and no Drop reports which were issued in December 2023.
“The Water Services Amendment Bill will be submitted to Cabinet shortly for approval for it to be tabled in Parliament.”
Improvement in issuing of water use licence
Meanwhile, the department’s turnaround plan for the issuing of water use licences has seen an improvement in performance from 35% of applications being processed within 90 days to 70% being processed within 90 days.
“In addition, the backlog of more than a thousand applications has been largely eradicated, with no more than 100 applications which have taken longer than 90 days to process,” Mavasa said.
The department has committed that further improvement towards the President’s 2020 State of the Nation Address (SONA) target of processing all applications within 90 days, will be achieved during this financial year. – SAnews.gov.za
GabiK
Wed, 07/24/2024 - 10:53
President outlines process to establish SOEs Holding Company
With government moving full steam ahead with plans to establish a holding company for state-owned enterprises (SOEs), the Department of Planning, Monitoring and Evaluation has been assigned the responsibility to finalise the processes.
“The SOEs that were previously under the stewardship of the Department of Public Enterprises will report to their respective line departments in terms of policy and regulatory matters,” President Cyril Ramaphosa said on Wednesday in Parliament.
Responding to the debate on the Presidency Budget Vote speech, the President reiterated that government is introducing legislation to establish a state-owned holding company to oversee and coordinate key strategic SOEs.
“The legislation will assign the functions of the holding company, which will cover issues of governance, financial management, remuneration standards and similar matters.
“This is in line with global best practice and is the approach taken by many countries with SOEs that successfully fulfil a social and economic development mandate.
“While some in this House might be dismissive of the work being coordinated in the Presidency, let us not lose sight of what these measures mean for the everyday lives of South African citizens. They mean more affordable and reliable electricity, cleaner water, efficient trains and lower data costs,” President Ramaphosa said.
Meanwhile, turning to other issues, the President said with just a small team of dedicated officials in the Presidency and National Treasury working closely with a wide range of government departments and entities, the President said the reforms implemented through Operation Vulindlela have had a measurable impact on growth and investment.
“These structural reforms are in the most strategic and critical sectors of our economy, as I indicated yesterday. They are in energy, in logistics, in telecommunications, in visa reform and in water.
“The reforms that are underway in the water sector – like reinstituting water quality monitoring systems, developing a raw water pricing strategy, and establishing a Water Partnerships Office to develop water infrastructure – have direct and material benefits for service delivery,” the President said.
Improved water infrastructure ensures more reliable and sustainable water supply while water quality management systems mean cleaner water and a reduced health risk.
“The ultimate beneficiary is the people of South Africa, and strengthening and enhancing the economy of our country,” the President said.
He said the reforms being implemented are laying a robust foundation for sustained economic and social progress.
“We have noted calls for programmes to involve young unemployed people in various forms of work, training and development. Contrary to some suggestions in the debate, we do have such programmes.
“These include the successful National Rural Youth Service Corps programme – known as NARYSEC – which provides opportunities to unemployed rural youth. We also spoke yesterday about other public and social employment programmes that have a large number of young participants.
“The challenge we have now is to scale up these programmes within available resources to ensure that they have a greater reach and impact,” the President said.
Size of the Executive
On the matter of the size of the Executive, the President said at this moment in South Africa’s history, the country faces complex and urgent challenges, which require strong coordination from the centre of government.
“While we continue to seek ways to use the resources of the state optimally, we have also had to ensure that we achieve inclusivity and balance. We believe that this is important for ensuring governance outcomes that serve the interests of all South Africans.
“Most importantly, we will ensure that the machinery of government works efficiently, and that it is used to advance the people’s interests and improve their lives.
“We will ensure that we reduce waste, rationalise and restructure our state-owned entities, and continue to direct the majority of our budget towards sustaining the social wage and investing in infrastructure,” the President said.
He said now more than ever, government must demonstrate what the people of South Africa can achieve when they work together.
“We must seize the opportunity that this Government of National Unity presents to restore these people’s trust in our democracy, and to realise the promise of dignity and equality that is contained in our Constitution.
“Five years from now, let us be able to say that we have made a difference in the lives of our people. Let us ensure that we take our beautiful country closer to the society of which we have all dreamed. And let us make sure that we leave no-one behind,” the President said. – SAnews.gov.za
nosihle
Wed, 07/24/2024 - 15:32
Transnet granted R18.85 billion loan
The African Development Bank Group has approved a R18.85 billion ($1 billion) corporate loan to Transnet for its recovery and growth plans.
Transnet has faced operational challenges mainly in the critical rail and port businesses resulting from underinvestment in infrastructure and equipment, theft and vandalism, and external shocks such as floods and the effects of the COVID-19 pandemic.
“We appreciate the support demonstrated by the African Development Bank. The loan extended by the bank will make a significant contribution to Transnet’s capital investment plan to stabilise and improve the rail network and to contribute to the broader South African economy.
“The accompanying grant funding to the loan will also greatly assist Transnet with its energy efficiency efforts and with Infrastructure Project Preparation initiatives,” Group Chief Executive of Transnet Michelle Phillips said.
The 25-year loan, which was approved by the African Development Bank Group’s Board of Directors on 12 July 2024 is fully guaranteed by the government of South Africa.
It will facilitate the first phase of the company’s R152.8 billion ($8. 1 billion) five-year capital investment plan to improve its existing capacity ahead of expansion for the priority segments throughout the transport value chain.
“The company is committed to addressing past challenges, fostering integrity, and enhancing efficiency within the organization. It has made progress in some key areas, including reforms in governance procurement and financial management,” a joint statement by Transnet and the African Development Bank said.
Recovery Plan
In October 2023, Transnet launched its recovery plan, which seeks to rehabilitate infrastructure and accelerate the relaunch of operations over 18 months, focusing on restoring operational performance and freight volumes to meet customer demands.
“Transnet, the custodian of South Africa's critical transport and logistics infrastructure, plays an indispensable role in the economy of the country, ensuring a competitive freight system and serving as a gateway to the Southern African Development Community (SADC) region.
“Our partnership will enable Transnet to execute a comprehensive Recovery Plan (RP), addressing operational inefficiencies, particularly in rail and port sectors. It is aligned with South Africa’s strategic 'Roadmap for Freight Logistics System,' and overseen by the National Logistics Crisis Committee, chaired at the Presidency level.
"This initiative signifies our commitment to enhancing national logistics capabilities and driving sustainable economic growth,” African Development Bank’s Vice President for Private Sector, Infrastructure and Industrialisation Solomon Quaynor said.
Transnet has been a client of the African Development Bank since 2010. The company employs more than 50 000 people and plays a critical role in integrating and connecting South Africa with the global economy.
The company’s freight system’s activities contribute significantly to South Africa’s economy.
Its operations serve as key gateways for trade within South Africa and with landlocked countries in the region, such as Botswana, Zambia, Zimbabwe, and the Democratic Republic of Congo through the Port of Durban. –SAnews.gov.za
nosihle
Wed, 07/24/2024 - 12:25
Namibian breeding colonies decimated by predation
Construction of the project started in 2022 to accommodate the school’s 1,200 learners
SA to work with Palestine in research, technology and innovation programme
Department of Science and Innovation (DSI) Minister, Professor Blade Nzimande, has announced a new programme to foster cooperation in science, technology and innovation (STI) between South Africa and war-torn Palestine.
“The programme will also have a special focus support for safeguarding, rebuilding, and developing Palestine’s research and innovation capacities and infrastructure,” Nzimande explained on Tuesday.
According to the Minister, the decision was made following a series of collaborations between the two nations.
These include a joint research project, seed funding for developing South African–Palestinian knowledge networks, the hosting of Palestinian scholars and students in South Africa in exchange programmes and sharing South African policy experience regarding science policy and system development.
The Minister, delivering his 2024/25 Budget Vote, stated that the programme aligns with the department’s strategic objective of using science diplomacy to foster human solidarity, and social justice, and support the country’s foreign policy.
“This new programme will be implemented by our entity the NRF [National Research Foundation] and will be funded from the department’s existing budget for international cooperation,” he told Members of Parliament (MPs).
Vaccines
For the 2024/25 financial year, the department experienced a budget cut, which was adjusted to R10 562 billion from R10 874 billion in 2023/24.
“I am honoured to be delivering the first Budget Vote of the Department of Science and Innovation, under the seventh administration, in the same year we celebrate 30 years of democracy.
“In these 30 years, our country has made tremendous strides in science, technology, and innovation,” he added.
He highlighted some of the achievements under the previous administration, which he believes have laid a foundation for deepening work in the new government.
This includes a new Vaccine Manufacturing Strategy (VIMS) to promote domestic design, development and production of vaccines.
Through VIMS, the department targeted vaccine development to fight the Rift Valley fever (RVF), human papillomavirus (HPV), respiratory syncytial virus (RSV) and the hepatitis B virus.
Working with the World Health Organisation (WHO), government also set up capacity for the local development of mRNA vaccines in response to future Coronavirus threats.
Hydrogen economy
Nzimande also touched on the hydrogen economy, which was specifically referenced by President Cyril Ramaphosa in his Opening of Parliament Address (OPA) last Thursday.
“The DSI is leading major innovations to promote the transition to green hydrogen as an alternative source of energy to fuel our economy and to facilitate a net-zero energy future,” he explained.
In 2023/24, they also provided R53 million as an initial investment to support women-led small, medium, and micro-enterprises (SMMEs) in the hydrogen economy.
Achievements
A national solar research facility was also established by the government to enable localisation and technology transfer in support of the Cannabis Industrialisation Masterplan and the Renewable Energy Masterplan.
“Arising from this, it is pleasing to report that the CSIR [Council for Scientific and Industrial Research] graduated 23 SMMEs with two commercial value-added products each.”
The Minister also highlighted the role of the department in leading scientific and technological advancements in the field of astronomy, particularly in the construction of the Square Kilometre Array (SKA) project, which is poised to become the world’s biggest-ever radio telescope array.
In the area of agro-processing and farmer development in the 2023/24 period, the department provided 1 480 black emerging farmers with technology development support.
New growth industries
Building on the successes of the sixth administration, the Minister said they remain committed to ensuring the sustainability of existing businesses in the agricultural, manufacturing and mining sectors and supporting the development of new growth industries.
“STI is also about transforming the socio-economic conditions of working-class communities in townships and rural areas.”
He also touched on the Mandela Mining Precinct, a public-private partnership between the DSI and the Minerals Council of South Africa aimed at revitalising mining research, development and innovation to ensure the sustainability of the industry.
As part of building a capable State, he said his department has begun establishing an Earth Observation Data Centre to provide decision support tools for government in fire and flood mapping, food security monitoring, human settlements mapping, forest mapping, disaster management, climate change and water resources management.
In addition, he told Parliament that government was looking at ways of raising gross expenditure on research and development (GERD) equal to 1.5% of the gross domestic product (GDP) by 2030/31.
“Our challenges notwithstanding, we present this budget as our commitment to transform our National System of Innovation and using science, technology, and innovation to impact the lives of our people in a transformative way,” he added. – SAnews.gov.za
Gabisile
Tue, 07/23/2024 - 13:15
Electricity system still vulnerable despite 120 days with no load shedding
While this week marks 120 days without load shedding in South Africa, President Cyril Ramaphosa says it is too soon to claim victory.
“Our electricity system is still vulnerable, and we cannot yet rule out a possibility of further load shedding,” President Ramaphosa said on Tuesday.
The President said this when he tabled the 2024/25 Presidency Budget Vote in Parliament.
He told Members of Parliament (MPs) that one of the greatest impediments to economic growth has been the electricity crisis, which the Presidency has been instrumental in addressing.
The National Energy Crisis Committee, which was established in 2022 to oversee the implementation of the Energy Action Plan, is chaired by the President and coordinated at a technical level by the Director-General in the Presidency.
“With the support of the National Energy Crisis Committee, there has been a marked improvement in the performance of Eskom’s power stations, which produce the bulk of South Africa’s electricity.”
WATCH | President Cyril Ramaphosa addresses the National Assembly during the tabling of the Presidency’s Budget Vote.
Meanwhile, he said regulatory changes have enabled substantial new investment in electricity generation.
He announced that government has also been working closely with independent power producers (IPPs) in steering their projects through to the construction phase, contributing significantly to the reduction in the severity of load shedding.
“We are going to continue working with companies, financial institutions and business organisations, both South African and international, during the course of our ambitious investment drive over the last five years.”
According to the Head of State, alleviating load shedding, improving the performance of the logistics system, reducing the cost of data, improving water supply, attracting the much-needed skills, and the reforms already underway will provide a significant boost to the economy in the medium term.
“In addition, these reforms support the repositioning of strategic State-owned enterprises by strengthening their balance sheets and improving their operational performance, while also enabling higher levels of private investment in infrastructure.”
READ | President: 100 days of no load shedding no reason to relax
Corruption
The President also touched on corruption and stated that government has made important progress in implementing the recommendations of the State Capture Commission.
“This includes the work of our law enforcement agencies to bring perpetrators to justice and to recover stolen funds, as well as the legislative and other changes needed to strengthen the fight against corruption and prevent state capture.”
In addition, he said the Presidency plays a pivotal role in ensuring that the work of the Special Investigating Unit (SIU) has an impact and that people involved in wrongdoing face the consequences of their actions.
“The Presidency has forged a close working relationship with the SIU and law enforcement agencies to monitor the implementation of the recommendations for criminal, disciplinary and administrative action arising from SIU investigations,” he added. – SAnews.gov.za
Gabisile
Tue, 07/23/2024 - 15:30
Seventh administration prioritises inclusive economic growth
For the next five years, government’s overriding priority is to achieve more rapid and inclusive economic growth so that it can create jobs, reduce poverty, and build a more just and equal society.
“To achieve this, we must configure the system of government to support a significant expansion of investment in infrastructure. We have seen the value of collaboration in pursuing this objective,” President Cyril Ramaphosa said on Tuesday in Parliament.
Tabling the Presidency’s Budget Vote, President Ramaphosa said through Infrastructure South Africa, government has been able to draw on private sector expertise and skills to improve the preparation, financing and implementation of infrastructure investment.
“Through the Infrastructure Fund, we are going to explore new approaches to blended financing of infrastructure, using the fiscus to leverage additional funding from the private sector, development finance institutions and other sources.
“We have been working closely with Independent Power Producers in steering their projects through to the construction phase, contributing significantly to the reduction in the severity of load shedding.
“We are going to continue working with companies, financial institutions and business organisations, both South African and international, during the course of our ambitious investment drive over the last five years,” the President said.
In 2018, government set a target of mobilising R1.2 trillion in new investments over five years.
“By the conclusion of the fifth South Africa Investment Conference last year, government had exceeded that target, raising over R1.5 trillion in new investment commitments.
“We have had an opportunity to visit many of the factories and projects that have been built or expanded as a result of these investments and we have seen the many jobs they have created,” the President said.
Red tape reduction efforts
As part of efforts to enhance the business environment and create much-needed jobs, a team to address red tape reduction in government was established in The Presidency.
“The work of the red tape reduction team that was established in the Presidency under the leadership of Mr Sipho Nkosi has been possible due to close cooperation with various departments, public entities and spheres of government, as well as support from the private sector.
“The team is looking at a capacity building approach to tackle red tape in provincial governments and a pilot to support three city municipalities with reform action plans to address inefficient business processes.
“Through this experience, it is clear that the removal of red tape is a cross-cutting exercise that requires a coordinated and integrated approach. Significant progress was made during the sixth administration in implementing reforms to enable economic growth, with a focus on modernising network industries,” President Ramaphosa said.
These reforms have been undertaken across government with the support of Operation Vulindlela, which is a joint initiative of the Presidency and National Treasury that seeks to accelerate the implementation of structural reforms and support economic recovery.
“This progress provides a solid platform on which we will build a sustained increase in the rate of economic growth and a reduction in poverty, unemployment and inequality.
“By alleviating load shedding, improving the performance of the logistics system, reducing the cost of data, improving water supply, and enabling the country to attract the skills it needs, the reforms already underway will provide a significant boost to the economy in the medium term,” the President said.
In addition, these reforms support the repositioning of strategic state-owned enterprises by strengthening their balance sheets and improving their operational performance, while also enabling higher levels of private investment in infrastructure.
A recent independent study released by the Bureau of Economic Research estimates that the reforms undertaken under the auspices of Operation Vulindlela could increase real Gross Domestic Product growth to 3.5 percent by 2029.
“Apart from the changes that these reforms are making to the country’s productive capacity and competitiveness, they are also contributing to greater business confidence. As confidence grows, so does investment, creating jobs and supporting demand. This is a virtuous cycle that leads to higher growth on a sustained basis,” the President said.
Government will now embark on the second phase of Operation Vulindlela.
“The immediate priority is to sustain the momentum and follow through on the implementation of current reforms to realise their full impact. While these reforms are a necessary condition for growth and job creation, they are not sufficient to drive structural transformation in the economy,” President Ramaphosa said.
In its second phase, Operation Vulindlela will therefore focus on reforming the local government system, harnessing digital public infrastructure, and addressing spatial inequality.
“We will work closely with provincial and local governments to address service delivery challenges, in line with our Constitutional mandate. We will coordinate a whole-of-government programme to drive digital transformation of government and modernise our digital public infrastructure.
“Finally, we will turn the attention of Operation Vulindlela to spatial inequality, which remains a key barrier to economic growth,” the President said. – SAnews.gov.za
nosihle
Tue, 07/23/2024 - 15:31
KZN hammers out programme of action for the new administration
The KwaZulu-Natal Executive Council, led by Premier Thamsanqa Ntuli, will today meet for the first provincial lekgotla of the Government of Provincial Unity (GPU).
The two-day lekgotla, which takes place on Tuesday and Wednesday in Durban, is expected to consolidate the programme of action for the seventh provincial administration.
“The lekgotla will serve as a critical platform for strategic planning and will consider the Medium-Term Development Plan. The meeting will also evaluate the implementation of key initiatives, and set a clear direction for future actions,” the provincial government said in a statement.
The meeting is expected to be attended by Members of the Executive Council, including senior government leaders, councillors, CEOs of public entities, and other relevant entities, who will engage in comprehensive discussions, share insights, and develop actionable plans to enhance governance and service delivery in the province.
“Key areas of discussion will include economic development, infrastructure projects, healthcare improvements, education, and social services and many others. The lekgotla will also develop resolutions that will be outlined during the upcoming State of the Province Address,” the provincial government said.
Premier Ntuli will deliver the opening address on Tuesday, paving the way for “crucial discussions”. – SAnews.gov.za
GabiK
Tue, 07/23/2024 - 10:58
A father of three can sleep comfortably on his back for the first time in 15 years after having a massive tumor – weighing 11lbs (5kgs) – removed by surgical charity Mercy Ships (www.MercyShips.org).
Malagasy builder and rice farmer Fidisoa was 38 when what appeared to be a tiny pimple on his back started to grow, first into a lump and then into the size of a fist. It continued to grow until Fidisoa looked as if he carried a backpack underneath his shirt.
By age 53, Fidisoa struggled to do the high level of manual labor required from his livelihood and laying down on his back was painful for him.
Despite his best efforts to have the tumor removed using his life savings to pay for three surgeries at hospitals in his home country in 2015, 2018 and 2021, each time the tumor just regrew.
He said: “The first surgery was 600,000 Ariary (about $135 USD) since the tumor was comparatively smaller then. The second surgery was 1,300,000 Ariary ($290 USD) and the third surgery was 5,000,000 Ariary ($1,250 USD).”
“The first and second surgeries were paid for, using all the money I had worked and saved over the years.” Then, in order to pay for his third surgery in 2021, Fidisoa took on a new contract abroad to raise the final funds he needed – all of which was spent on the treatment.
A family man with three children aged five, 22 and 25, Fidisoa felt driven to continue working hard in the fields and providing for his loved ones despite the fact he was in physical pain and struggled to remain active.
Hope finally came in the form of a news announcement explaining that international charity Mercy Ships was offering free surgeries for conditions such as his on hospital ship the Africa Mercy®.
“I heard of Mercy Ships in 2015 on the news, but at the time, I didn't know how to get selected,” he admitted. When Mercy Ships returned to Madagascar in 2024, Fidisoa was able to be seen by the volunteer medical team and was welcomed on board the Africa Mercy® to receive his long-awaited surgery.
The day Fidisoa finally boarded the hospital ship was unforgettable – for more reasons than one. “Today, June 6, is my 53rd birthday and to be going in for free surgery tomorrow is like the best birthday gift I have ever received. The nurses here are so kind and even sang a happy birthday song for me,” Fidisoa shared.
After the four-hour surgery, Fidisoa's family, including his wife, daughter, and sister, were all waiting for him outside the operating room and were elated to see the tumor had gone.
“They were amazed at how different I looked,” Fidisoa said with a smile. “Thank you to all the loving, humble people at Mercy Ships and to everyone who made this possible.”
Dr. Tertius Venter, a volunteer reconstructive plastics surgeon from South Africa, was among the team who operated on Fidisoa in a procedure called a back hibernoma excision. He said that the benign tumor, a soft lobular fibroma which weighed 5 kilograms (11 lbs.), was now gone for good. After past surgeries regrowth occurred because not all abnormal tissue was removed.
“In his case, we spent quite a lot of time because it [abnormal tissue] also infiltrated into his muscles, so we had to go thoroughly and find every bit and remove it as far we could. We have removed it completely now,” explained Dr. Venter.
Finally free from the weight he had long carried, Fidisoa would now be able to live a normal life.
After his healing journey was complete, Fidisoa was filled with fresh ideas for the future. Without the physical limitations of his tumor, the work that had long been challenging now felt like a new beginning.
“I look forward to getting back to work immediately on the farm where I grow rice. I intend to fix an old motorbike I have back home and use that to supply sacks of rice to my customers. Maybe with time, I will travel to the Comoros Islands to do construction work, but for now, I'll stay in Madagascar,” he said with optimism.
Distributed by APO Group on behalf of Mercy Ships.
Video link: https://apo-opa.co/4cPqspq
For more Information about Mercy Ships, contact:
Sophie Barnett
Mercy Ships International PR Manager
sophie.barnett@mercyships.org
About Mercy Ships:
Mercy Ships operates hospital ships that deliver free surgeries and other healthcare services to those with little access to safe medical care. An international faith-based organization, Mercy Ships has focused entirely on partnering with African nations for the past three decades. Working with in-country partners, Mercy Ships also provides training to local healthcare professionals and supports the construction of in-country medical infrastructure to leave a lasting impact.
Each year, more than 3,000 volunteer professionals from over 60 countries serve on board the world's two largest non-governmental hospital ships, the Africa Mercy® and the Global Mercy™. Professionals such as surgeons, dentists, nurses, health trainers, cooks, and engineers dedicate their time and skills to accelerate access to safe surgical, obstetric and anesthetic care. Mercy Ships was founded in 1978 and has offices in 16 countries as well as an Africa Service Center in Dakar, Senegal. For more information, visit www.MercyShips.org and follow @ MercyShips on social media.
200 oil producers, stakeholders from Southern Africa gather in Pretoria
The Department of Trade, Industry and Competition (dtic) will this week host the 3rd South African Conference on Essential and Vegetable Oils, bringing together 200 oil producers and stakeholders from across South Africa and Southern Africa.
The event aims to share innovative trends in the global marketplace, including various applications for essential and vegetable oils, and to address critical issues faced by this industry.
According to the department, attendees will gain valuable insights from proven experts on the most pressing challenges, equipping them with the knowledge needed to thrive in the dynamic essential and vegetable oils sector.
Acting Deputy Director-General of Sectors at the dtic, Thandi Phele, said the upcoming conference will be a significant step in strengthening the quality of essential and vegetable oil exports from South Africa.
Phele said the conference will highlight the “technical competence and the sustainability of the National Quality Infrastructure system and the conformity assessment services that serve the selected value chains in this industry”.
SADC compliance with international standards, technical regulations and culture for quality will be addressed.
“This conference will serve as a pivotal platform for knowledge sharing and networking among key industry players. Our collaboration with SECO, UNIDO, and SAEOPA underscores our commitment to fostering growth and innovation within the essential and vegetable oils industry," she said.
The conference will feature a series of presentations, panel discussions, and interactive sessions, focusing on:
• Innovative trends shaping the global essential and vegetable oils market
• Addressing critical challenges faced by producers and stakeholders
• Strategies for expanding market reach from local to global
Head of SECO in South Africa, Daniel Lauchenauer, says the gathering presents an unparalleled opportunity for stakeholders to engage with industry leaders, share best practices, and forge partnerships that will drive the industry forward.
According to SAEOPA, the global essential oils market size was valued at $11 billion in 2023. It is projected to grow to $12,47 billion in 2024 and $27,82 billion by 2032.
South African exports of essential oils, perfumes, cosmetics and toiletries was $679 million during 2023, according to the United Nations Commodity Trade Statistics database on international trade.
The department will host the conference at the South African National Botanical Gardens in Pretoria from 25-26 July 2024, in partnership with the Swiss State Secretariat for Economic Affairs SECO, the United Nations Industrial Development Organisation (UNIDO) and the Southern African Essential Oils Producers Association (SAEOPA),
The theme for the conference is “Local to Global: East West, Home is Best”. – SAnews.gov.za
Edwin
Tue, 07/23/2024 - 09:45
Investment in African critical minerals are on the rise, with global entities acquiring assets, funding upstream projects and developing midstream and logistics facilities. Over the past three years, Zambia (http://apo-opa.co/3yk2ymJ) – Africa's second-largest copper producer – has recorded $10 billion in investments (http://apo-opa.co/3WibyRd) in its mining sector. These investments are pushing the country closer to its goal of increasing copper production to one million tons by 2026 and three million tons by 2030, with several new projects coming online. To promote opportunities and drive fresh investment across African markets, the upcoming Critical Minerals Africa Summit (http://apo-opa.co/3WzznFR) will feature a dedicated Investment Forum.
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 (http://apo-opa.co/3VMQTpp) 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
The Investment Forum will delve into investment opportunities across the spectrum of critical minerals and rare earth projects, highlighting how African governments are partnering with global stakeholders to create an enabling environment for market expansion.
Zambia introduced the Mineral Royalty Tax Reform in 2022 – reducing mineral royalty rates for investors – resulting in a surge of fresh investments. In June 2024, mining firm Jubilee Metals Group (http://apo-opa.co/3WiXJlA) acquired two operational copper mines to support efforts to increase activities at its Sable Refinery in Zambia. Canadian mining firm Ivanhoe Mines (http://apo-opa.co/4d4bNqc) also announced that is investing in the expansion of a concentrator at the Kipushi Copper Mine, aiming to increase output to 960,000 tons of copper annually by 2030, up from 140,000 tons in 2024. The UAE's International Resources Holding is providing $300 million to enhance copper production at Mopani Mines, following its acquisition of a 51% stake in a $1.1 billion deal in April 2024. The Investment Forum will showcase lucrative prospects for global investors within Zambia's copper value chain.
Meanwhile, Zimbabwe (http://apo-opa.co/3WwoAfw) banned the export of raw lithium in 2022 in a bid to attract investments across the midstream sector to value add its lithium output. The regulation aims to help the country account for 20% of global lithium demand, build a $12 billion economy by 2030 and has resulted in an influx in new investments and project launches. Mining revenue (http://apo-opa.co/4bPAEwM) has grown from $3.5 billion in 2020 to $9.77 billion in 2023, as a result. Mining firms including Rwizi Rukuru, Shengxiang Investments, Chengxin Lithium Group, Zhejiang Huayou Cobalt and Sinomine Resource Group have invested in large-scale lithium processing facilities in 2023 and 2024. The Investment Forum will feature stakeholders from Zimbabwe's critical mineral sector in panel discussions and exclusive networking sessions, highlighting investment opportunities across the mining value chain.
With the global demand for critical minerals set to increase by four times by 2030 – driven by increasing adoption of clean energy technologies – Africa, which holds 30% of the world's total critical mineral reserves, is well positioned to attract global investors. South Africa holds 80% of the world's platinum group metals, Morocco 70% of total phosphate, the Democratic Republic of Congo the world's largest cobalt reserves, Guinea-Conakry the world's second-largest bauxite reserves, and Gabon the world's second-largest manganese resources. CMA will spotlight these resources and partnership opportunities available for global stakeholders as African countries unlock their full mineral potential for GDP growth.
“Africa's critical mineral resources present an opportunity for the continent to forge partnerships on infrastructure development and economic growth with global investors. We hope to see an increase in investments flowing into Africa as global mining stakeholders capitalize on the continent's vast resources and strategic locations to feed the global demand,” stated Rachelle Kasongo, Project Director at CMA-organizer, Energy Capital & Power.
Distributed by APO Group on behalf of Energy Capital & Power.
The Black Business Council (BBC) welcomes the recent sale of the bp Southern Africa (Pty) Ltd (bpSA) and Shell Downstream South Africa (Pty) Ltd (SDSA) assets located at the SAPREF Precinct to the South African State-owned entity, the Central Energy Fund (CEF) SoC Ltd. As part of the sale purchase agreement, CEF has agreed to …
Ekurhuleni closely monitors water network
Technicians are closely monitoring water supply in Bedfordview, Primrose and Germiston, as the system continues to struggle to recover following the completion of extensive maintenance work by Rand Water.
City of Ekurhuleni spokesperson, Zweli Dlamini, said the water utility completed maintenance work as scheduled on Wednesday, 17 July 2024. However, the system has been struggling to recover.
This has affected water supply to certain areas, including Primrose, Bedfordview and Germiston.
Currently, there is a slight improvement on the water supply in the affected areas, with low lying areas starting to receive supply while high-lying areas are experiencing low water pressure.
“It is a norm that the recovery period for full restoration after the maintenance takes between three and 15 days, and high-lying areas would normally take longer to recover as the water pipes and towers need to be filled to a specific level before technicians start pumping the water systems.”
Dlamini has appealed to the affected communities and business for patience.
He also encouraged residents and businesses to continue using water sparingly, to allow the water levels at the affected reservoirs to gradually stabilise.
Rand Water is currently embarking on extensive proactive maintenance of its infrastructure to improve the reliability and efficiency of its water infrastructure. – SAnews.gov.za
GabiK
Mon, 07/22/2024 - 14:03
As artificial intelligence (AI) continues to supercharge every aspect of business and society, South Africa stands at a critical juncture. Rather than fearing job displacement, we can harness AI to drive widespread growth and prosperity. By fostering local innovation, investing in AI education, and creating a conducive regulatory environment, we can empower citizens and businesses …
Warning against electricity scammers
The City of Cape Town has urged residents to be aware of scammers pretending to work for the city to gain access to the residents’ homes.
The city’s Electricity Generation and Distribution Department said its teams have been made aware of scammers in Sanddrift, where a resident recently reported to the city that two scammers visited her home claiming to work for the city’s Electricity Department to check on electricity prepaid meters in the area.
“Once the resident allows the scammers access to their home, they proceeded to steal items while the resident is not looking. These incidents happen far too often, and we ask residents to always be alert, especially our elderly residents,” sait the city’s Mayoral Committee Member for Energy, Xanthea Limberg.
While the city’s electricity staff and contractors are in neighbourhoods to do legitimate meter readings and other work, Limberg urged residents to always be alert and to verify the official’s identity with the city before allowing officials access to their property.
“Residents are urged to verify the official’s identity and work order number with the city before giving them access to their homes. All legitimate city staff and contractors will identify themselves before asking for access for legitimate city related electricity work.
“The identification card must display the city logo, the name and surname of the staff member or mandated contractor and must contain an embedded photo of the staff member or mandated contractor. If unsure, please contact the city’s call centre,” Limberg said.
Limberg also urged the residents refrain from any type of aggressive action, including threats or intimidation of legitimate city staff and contractors doing meter reading or other critical electricity infrastructure work in their neighbourhoods.
To verify the work order, contact the city’s call centre on 0860 103 089. To report suspicious behaviour, contact 0800 1100 77.
Tips for residents:
• Always verify the work order number when an official visits your home.
• Check the official’s city-issued identification card.
• The ID card must display the city logo, the name and surname of the staff member or mandated contractor and must contain an embedded photo of the staff member or mandated contractor.
• If unsure, call the city’s call centre on 0860 103 089.
• Report suspicious behaviour to the city’s law enforcement agencies or to the SAPS. – SAnews.gov.za
GabiK
Sun, 07/21/2024 - 10:46
City of Johannesburg losing between R5-million and R10-million monthly due to illegal connections, says City Power
Ministers welcome renewed commitment to service delivery
Ministers responsible for some of the key portfolios in the Government of National Unity (GNU) have welcomed the renewed focus on some crucial areas of service delivery, as the work that lies ahead for the seventh administration was brought into sharp focus on Thursday evening.
President Cyril Ramaphosa delivered the Opening of Parliament Address (OPA) at the Cape Town City Hall, where he provided the details of the programme of action for the new Executive.
The much-anticipated address followed the ushering in of the seventh administration after South Africans voted in the National and Provincial Elections in May. With no outright majority winner, 10 political parties formed a Government of National Unity (GNU), which enjoins all parties to work together for improved service delivery and advanced economic growth.
After the President’s address, some Ministers who spoke to SAnews in the Parliamentary Precinct in Cape Town, reiterated their support for the goals of this administration, which are articulated in the Statement of Intent agreed to by parties to the GNU.
Chief amongst these targets are the pursuit of rapid, inclusive and sustainable economic growth; the creation of a more just society by tackling poverty; safeguarding the rights of workers; stabilising government; building State capacity, and pursuing a foreign policy based on human rights, solidarity and peace.
President Ramaphosa highlighted a number of projects ranging from essential infrastructure to improved health care – all geared towards better outcomes for citizens and economic development.
Water and Sanitation Minister Pemmy Majodina told SAnews that the provision of water is an issue that requires urgent attention.
“We have mega water projects that we have unblocked, such as the Lesotho Highlands Phase 2, which will assist to provide water to Gauteng, North West, Free State, Mpumalanga and the Northern Cape,” Majodina said.
She reiterated government’s commitment to ensuring that projects of such nature become successful in delivering on their mandate, despite the hurdles that arise.
Cooperative Governance and Traditional Affairs Minister Velenkosini Hlabisa welcomed the President’s call for the proper implementation, at local government level, of the indigent policy so that the old, the infirm and the poor get assistance with the payment of basic services.
“This is the outcome of our engagements and discussions, where we agreed on key priorities… to turn things around and pull together. We are also going to look [closely at] municipalities because if they are not stable, there won’t be economic growth,” Hlabisa said.
Improving health outcomes
On the provision of health services, President Ramaphosa once again reassured that through the implementation of the National Health Insurance (NHI), government will be able to bring stakeholders together, resolve differences and “clarify misunderstandings”, a sentiment echoed by Health Minister, Dr Aaron Motsoaledi.
On 15 May 2024, President Ramaphosa signed the National Health Insurance Bill into law.
READ | President Ramaphosa signs NHI Bill into law
The NHI Bill seeks to provide universal access to health care services in the country, in accordance with the National Health Insurance White Paper and the Constitution of South Africa.
The Bill envisages the establishment of a National Health Insurance Fund and sets out its powers, functions and governance structures.
Motsoaledi said government intends to ensure that all are treated equally at health facilities.
“As government, we want people to be treated the same. This is what we are striving [for].”
The NHI Bill will also create mechanisms for the equitable, effective and efficient utilisation of the resources of the fund to meet the health needs of users and preclude or limit undesirable, unethical and unlawful practices in relation to the fund. It further seeks to address barriers to access.
The Bill was initially tabled in Parliament and introduced to the Portfolio Committee on Health on 8 August 2019 for processing. – SAnews.gov.za
Edwin
Thu, 07/18/2024 - 22:21
CoGTA Minister describes GNU as 'a bold, necessary step in the right direction'
Newly appointed Cooperative Governance and Traditional Affairs (CoGTA) Minister, Velenkosini Hlabisa, has emphasised his party’s commitment to a stable and successful Government of National Unity (GNU).
“The GNU is not about politics but about the will of the people for the future of our country. We campaigned and expressed our views to the electorate, but the electorate in response, said ‘work together',” Hlabisa said.
Hlabisa, the Inkatha Freedom Party (IFP) leader, spoke during Friday’s debate on the Opening of Parliament Address (OPA).
The debate is in response to President Cyril Ramaphosa’s OPA delivered in Cape Town on Thursday, where he outlined government’s agenda, priorities, and policies for the next five years.
Hlabisa told Members of Parliament (MPs) that his party will continue in their founder’s footsteps, Chief Mangosuthu Buthelezi, who spoke “loudly” on behalf of the people.
“We will continue to play that role constructively in the GNU for the good of our country,” he said.
He described the GNU as a bold and necessary step in the right direction.
“We have repositioned South Africa to embark on a journey of rebuilding herself and the future of our generation and the generations to come.
“The real way of changing the lived reality of every South African must proceed with the utmost haste. The change voters demand must be practically seen, felt and experienced in the next few months.”
Hlabisa welcomed the plan laid out yesterday evening by President Ramaphosa.
He is of the view that the President’s OPA opened a new chapter for the country under the collective wisdom, skills and capabilities of leaders who chose to work together for the sake of the people of South Africa.
Municipalities
The IFP has welcomed the position taken by the President about reviewing the Municipal Funding Model to ensure that municipalities become fully functional.
Hlabisa is of the view that this marks a turning point in the country’s 30-year history.
“The IFP believes that local government is a critical sphere of government to impact development and change in the lives of the people of South Africa.”
As the Minister of CoGTA, Hlabisa said he was determined to see all municipalities receive the administrative, technical and financial support needed to become viable, stable, and able to deliver and maintain infrastructure.
He took the time to thank the President for his commitment to appoint political champions of the District Development Model (DDM) to fast-track the “one-plan” solution.
“With the DDM institutionalised, champions working tirelessly and CoGTA playing its role, we will ensure that every municipality works.”
Hlabisa said his party will also champion the interests of and deepen working partnerships with traditional and Khoi San leaders as they play a key role in a stable democracy.
Disaster management
The Minister touched on climate change, which has necessitated a new approach to disaster management that is proactive, less bureaucratic and timeous.
He also spoke about the devastation that has engulfed the Western Cape and KwaZulu-Natal residents following the floods and wildfire.
“The IFP is committed to the continued development of a new approach in dealing with disaster management.”
He stated that the GNU must be seen to be responsive, empowering and a force for good.
“It must work, as the IFP has always done, hand in hand with the people.”
In addition, he said his party was committed to a national dialogue to address social cohesion, landlessness and the growing gap between the rich and poor.
“We are committed to creating a stable GNU, that is responsive and delivers. This is our commitment to South Africa.” – SAnews.gov.za
Gabisile
Fri, 07/19/2024 - 12:58
President’s call to turn SA into a construction site welcomed
Public Works and Infrastructure Minister Dean Macpherson has welcomed President Cyril Ramaphosa’s announcement to turn South Africa into a construction site through increased infrastructure investment and support for Infrastructure South Africa.
Infrastructure South Africa is, said the Minister, the central authority for the coordination and planning of major construction projects.
“As Minister of Public Works and Infrastructure, I have publicly mentioned that my focus for the department will be to unleash a wave of construction projects in the country to increase South Africa’s economic growth and create sustainable jobs.
“I therefore welcome the President’s support for my department’s endeavours as we work to improve the lives of our people,” said the Minister in a statement, following the President’s Opening of Parliament of Address, on Thursday.
“The only way we can meaningfully bring change to the South African people and improve living conditions is if we grow the economy and create jobs which can be achieved through infrastructure investment - an approach which enjoys the full support of the President as mentioned in his Opening Of Parliament Address. I have no doubt we will be successful,” he said.
The Minister said his focus will be to expand and capacitate Infrastructure South Africa for the efficient and successful execution of construction projects, as well as working with other government departments to improve the long-term planning and execution of infrastructure investment.
Macpherson further welcomed the President’s commitment to address the rise of the construction mafia which has paralysed infrastructure investments in provinces such as KwaZulu-Natal.
The Minister said he looked forward to working with his colleagues across the Government of National Unity, in particular the Minister of Police, to restore the rule of law at construction projects, in order to safeguard investment in infrastructure that can contribute to building a better South Africa.
“It is only through working together that we can build South Africa to truly live up to the ideals of democracy. In the months ahead, I invite all South Africans to join me in unleashing infrastructure development and building a better nation. Let’s build South Africa,” Macpherson said. – SAnews.gov.za
Edwin
Fri, 07/19/2024 - 10:04
Financial technology, or “FinTech,” is the term used to describe any technology or software that tries to improve and automate the delivery and use of financial services. Everyday examples include online banking, invoicing, mobile payment apps and more. We are probably preaching to the choir here, but keeping track of every last cent that moves …
PalmPay (www.PalmPay.com), a leading Africa-focused fintech platform, has been included in the 2024 edition of CNBC and Statista's prestigious list of the “Top 250 Fintech Companies in the World.” This recognition underscores PalmPay's rapid growth and significant contributions to advancing financial inclusion.
The CNBC/Statista list honours fintech pioneers significantly transforming the financial services industry through technology. More than 2000 companies were evaluated globally based on general and sector-specific KPIs to determine the final selection. In 2024, some of the most influential fintechs in the world were included in the list, including Alipay, Nubank, Monzo, and Revolut. Six other African firms made the list: Flutterwave (Nigeria/US) – Payments; Kuda (Nigeria/UK) – Neobanking; MTN (South Africa) – Payments; Piggyvest (Nigeria) – Financial planning; and Yoco (South Africa) – Payments.
PalmPay has developed an integrated platform that caters to consumers and businesses in the African market. The startup, which has been operating since 2019, pioneered a unique model in Nigeria that provides financial services such as money transfers, bill payment, credit services and savings via a one-stop-shop fintech ‘superapp' and mobile money agents.
This dual approach of easy-to-use digital banking, combined with offline touchpoints for those without smartphones, has contributed to driving financial inclusion in a market where more than 40% of adults remain unbanked.
In 2023, PalmPay announced a major milestone of reaching 30 million registered users on its smartphone apps and 1.1 million businesses in its network of mobile money agents and retail merchants. A third of PalmPay customers report that the platform was their first-ever financial account.
PalmPay has quickly grown to become a market leader in Nigeria thanks to its user-friendly interface, reliable transactions, and focus on driving market share through fee-free transfers and promotions. PalmPay processes 15 million transactions on its consumer app daily and maintains a 99.5% transaction success rate.
To achieve this scale in a market where 10% transaction failure rates were common, the company built out its payment infrastructure, channel integrations and transaction routing systems. In addition to its consumer wallet, PalmPay offers services to businesses that leverage the PalmPay platform via its suite of POS machines, APIs and checkout solutions.
"It's an honour for PalmPay to be recognised by CNBC and Statista as one of the World's Top Fintech Companies," said Sofia Zab, Global CMO, "This recognition validates our unique approach to financial services and our commitment to driving financial inclusion. We are actively expanding PalmPay's reach and offerings, ensuring more people have access to essential financial services and promoting economic development in emerging markets"
PalmPay operates in several key markets across Africa, including Nigeria, Ghana and Tanzania, with plans to expand further in the region and other emerging markets. The company has global HQs in China and London.
For more information, visit www.PalmPay.com
Distributed by APO Group on behalf of PalmPay.