MyZA
News, Directory, Events and Other Stuff
In the dynamic world of digital marketing, staying ahead of the curve is crucial for businesses looking to succeed. From SEO audits to TikTok advertising, the landscape is constantly evolving. This comprehensive guide delves into the key aspects of digital marketing, offering insights and strategies for each. SEO Audits: The Foundation of Your Online Presence SEO …
The African Energy Chamber (https://EnergyChamber.org) vehemently rejects the notion and mindset that Africans are somehow unqualified to lead and host significant events like Investing in African Mining Indaba on their own land. It is unacceptable to have the future of Africa's energy defined and driven by entities that visit the continent sporadically and lack a genuine understanding of its complexities.
We cannot allow crucial decisions about Africa's energy future to be dictated by those who fail to prioritise the continent's silent majority—600 million people in sub-Saharan Africa living in the dark and 900 million lacking access to clean cooking fuels. The voices of these individuals must guide African energy decisions, and their needs should take precedence in shaping the continent's energy landscape.
“The idea that Africans are somehow incapable of managing their own affairs, is tiring. It's time we take full charge of our own destiny, while doing so in collaboration with likeminded partners.” Stated Tom Alweendo, Minister of Mines and Energy of Namibia.
The suggestion that Africans must rely on a small UK outfit, the Hyve Group, to organise events like Mining Indaba is insulting and patronising. This mindset epitomises the same attitude that African oil- and gas-producing states encounter in their energy transition – being excluded from the decision-making table and having their transition defined for them.
“This kind of decision-making, this suggestion that Africans are somehow unqualified to run Mining indaba or a mining investment event, and we have to beg a small UK outfit ( Hyve Group ) full of latte liberators with their fancy ideas about African energy to do it for, epitomizes the same kind of mindset that African oil- and gas-producing states have been encountering when it comes to their energy transition. They are defining the transition for you without you being on the table. They are defining and driving the agenda. You not on the table. You are on the menu”, Stated NJ Ayuk, Executive Chairman of the African Energy Chamber.
This insulting and patronising mindset extends to environmental groups and Western countries that pressure African leaders into energy transition decisions that may not be in Africa's best interests. The African Energy Chamber strongly opposes such external influences and emphasises the importance of a just, Africa-first energy transition. Let Africa make its own choices and define its own timeline.
"It's the same insulting, patronising mindset that has led environmental groups and Western countries to suggest they know what's best for Africa as they pressure our leaders into energy transition decisions that aren't in Africa's best interests. It's the same mindset that, in part, inspired me to do this work that I think is of critical importance for a just, Africa-first energy transition." Concluded Ayuk,
In addition to the lack of Black executives in the leadership of Hyve Group is troubling. In 2024 you can't having an organisation defining the narrative for the children in Senegal, Nigeria, Botswana, Zimbabwe, South Africa without any black executives in the leadership team. The absence of Broad-Based Black Economic Empowerment (BEE) and local content compliance further underscores a disregard for inclusive economic participation and empowerment must be a serious concern.
The energy industry's progress, characterised by true representation and inclusion, can serve as a catalyst for the next generation of leaders, the youth. It's about ensuring that every African child, from Namibia to Congo to Cameroon, can see themselves as leaders in the energy sector, breaking barriers and shaping a future that reflects their diversity and potential. The time has come for the youth to be the driving force behind a new narrative, where Africa's energy decisions are made with them, for them, and by them.
The African Energy Chamber is committed to emphasising the importance of sending a positive message to every African child. True progress in the energy sector should translate into tangible opportunities for the youth, guiding them towards a future where they actively contribute to and benefit from Africa's sustainable energy development.
In light of these sentiments, the African Energy Chamber underscores the urgency of empowering Africans to take charge of events like Investing in African Mining Indaba and other critical discussions about the continent's energy future. It is time for Africa to be at the forefront of its own narrative, ensuring that decisions are made in the best interests of its people and guided by the voices that matter the most.
Distributed by APO Group on behalf of African Energy Chamber.
Progress in the nation’s recovery and rebuilding documented in summary five-year review
The Presidency has released a five-year review publication that documents the strides made in South Africa’s recovery and reconstruction since 2019, delving into the transformative initiatives undertaken by the Sixth Administration, specifically targeting the pressing challenges confronting the nation.
'Leave No One Behind 2024 – A Five-Year Review', which was released on Tuesday, outlines in summary form the progress made in growing the economy and jobs; fighting corruption; tackling poverty; developing human capital; providing quality health care for all; fighting crime, violence and instability; making communities safer, and investing in infrastructure.
From the outset, the sixth administration has worked to address the immediate challenges facing South Africans and put in place the foundations for sustainable, inclusive growth and job creation into the future.
“Progress in South Africa’s recovery and rebuilding since 2019 has been documented in a new Presidency publication on the impact of the Sixth Administration’s focus on addressing the immediate challenges facing South Africa and putting in place the foundations for better lives and sustainable growth into the future.
“The publication is an exercise in accountability and draws attention to the collective efforts of government and social partners to improve conditions in the country under the leadership of President Cyril Ramaphosa,” Presidency spokesperson Vincent Magwenya said in a statement.
The information resource can be accessed on www.stateofthenation.gov.za and http://bit.ly/4blAA93. - SAnews.gov.za
DikelediM
Tue, 02/06/2024 - 13:44
Progress in South Africa's recovery and rebuilding since 2019 has been documented in a new Presidency publication on the impact of the Sixth Administration's focus on addressing the immediate challenges facing South Africa and putting in place the foundations for better lives and sustainable growth into the future.
Leave No One Behind 2024 – A Five Year Review outlines in summary form the progress made in growing the economy and jobs; fighting corruption; tackling poverty; developing human capital; providing quality health care for all; fighting crime, violence and instability; making communities safer; and investing in infrastructure.
The publication is an exercise in accountability and draws attention to the collective efforts of Government and social partners to improve conditions in the country under the leadership of President Cyril Ramaphosa.
Distributed by APO Group on behalf of The Presidency: Republic of South Africa.
Indaba to place spotlight on local mining industry
The 2024 Investing in African Mining Indaba will place the spotlight on the significant potential of the mining sector in fostering economic expansion and employment opportunities, said President Cyril Ramaphosa.
“This week’s Mining Indaba in Cape Town will showcase the enormous potential of the mining industry to drive economic growth and job creation. The actions underway to improve the logistics system will help us to unlock this potential, given that mining companies depend on the rail network and ports to compete in global markets.
“From the work already underway, we have shown that it is possible to overcome the barriers to growth by working together in partnership. We are building momentum and have begun to see the results,” the President said in his weekly newsletter on Monday.
He emphasised that “as more and more of our products leave the country’s shores, whether to the African continent or other parts of the world,” more companies will thrive, more investment will be made and more jobs will be created.
The President’s comments follow on last week’s launch of the first export shipment of goods produced by South African companies destined for other African countries under the preferential trade provisions of the African Continental Free Trade Area (AfCFTA) from the Durban port.
The AfCFTA intends to create a single market for goods and services, facilitated by movement of persons in order to deepen the economic integration of the African continent.
The President who officiated at last week’s shipment of goods said many more products and shipments can be expected to follow as South African companies sell South African made goods into the massive African free trade area.
Exports to AfCFTA countries already account for nearly a quarter of South Africa’s global exports. The President added that this figure will now increase dramatically.
“South African companies have a great opportunity to take advantage of the AfCFTA by exporting their goods into the rest of the African continent. In order to take this great opportunity up, as a country we need to ensure that our products make it from the factory gate onto the ship and head towards their destinations with the least possible delay and at the lowest possible cost,” he said.
Ports and rail
Turning to ports and rail, the President highlighted that for some years now the efficiency and competitiveness of South African ports and rail network have been in decline. He spoke of the need to fix the country’s logistics architecture.
Transnet, which operates ports and freight rail lines, has had to contend with severe challenges, including the effects of state capture, the impact of the COVID pandemic, natural disasters and the rising levels of theft and vandalism of its infrastructure.
As a result, the volume of goods transported on the rail network has decreased significantly, forcing more companies to use trucks and causing road congestion.
“Working together with the private sector, we are turning the situation around, guided by the Freight Logistics Roadmap that was crafted by Transnet, government and social partners. The roadmap outlines a clear set of actions to stabilise and improve Transnet’s performance in the short term and to fundamentally reform the logistics system in the long term,” he said.
To ensure this work receives dedicated attention, the National Logistics Crisis Committee (NLCC) has been established which is chaired by the Presidency and brings together all of the relevant government departments to drive a coordinated response to the logistics challenges.
Corridor Recovery Teams
Government has also established Corridor Recovery Teams which bring Transnet, the private sector and independent experts together to improve the performance of strategic rail and port corridors.
The President highlighted that this single-minded approach to improving performance is already showing results.
For example, the number of ships waiting to berth at the Port of Durban – which has experienced severe congestion in recent months – reduced from more than 60 ships in mid-November to just 12 ships at the end of January.
At the Port of Cape Town, which is preparing for the important fruit season, Transnet has deployed new leadership and is putting in place several measures to improve its capacity in the short term. Seven new cranes, which are used for moving and stacking containers, were delivered to the port last month, and the number of work shifts is being increased to improve vessel turnaround times.
In addition to these short-term measures, the Freight Logistics Roadmap includes far-reaching reforms to modernise the logistics system and enable much greater investment in infrastructure.
“These reforms will introduce private sector investment and competition in port and rail operations, improving efficiency and bringing down prices, while ensuring that infrastructure remains owned by the state.
“A key milestone in this reform journey will be the implementation of ‘open access’ to the freight rail network, which will allow private rail operators to invest alongside Transnet Freight Rail for the first time,” he said.
Another key step is the introduction of strategic partnerships in container terminals, which will enable new investment to expand port capacity and upgrade equipment.
Progress has already been made with the appointment by Transnet of an international container terminal operator for the Durban Pier 2 terminal. Transnet will retain 51% ownership of the terminal and no workers will lose their jobs once the partnership is established.
The private partner will have full management responsibility for the terminal and will contribute both capital and expertise to improve its performance.
“The process of reform takes time and there are no quick solutions to the challenges facing Transnet. However, the steps we are taking now will not only improve performance in the immediate term but will also create a truly competitive and efficient system into the future,” the President said. – SAnews.gov.za
DikelediM
Mon, 02/05/2024 - 09:00
South African government hard at work to resolve challenges in mining
President Cyril Ramaphosa has told leading figures in African mining that government is working hard to address the challenges that the industry faces.
He was speaking during the opening of the 30th Investing in African Mining Indaba held in Cape Town on Monday.
The Indaba is expected to continue until Thursday.
The mining industry contributes a hefty 7.5% to South Africa’s Gross Domestic Product (GDP) and accounts for some 60%, by value, of the country’s exports.
“We are all acutely aware that we face strong headwinds, and a number of persistent challenges are impeding mining performance. Globally, commodity price volatility, high energy prices, geopolitical tensions and a global cost of living crisis are playing a significant role in dampening the business operating environment.
“Domestically, the energy crisis and port and rail bottlenecks are putting serious pressure on miners’ operational costs. Illicit mining, cable theft and infrastructure vandalism place a further strain on mining output and returns. We are committed to work hard and work together to overcome these serious challenges,” he said.
Energy crisis
The President told the gathering that through the Energy Action Plan, government has taken “several critical measures to improve the performance of our existing generation fleet and to add new electricity capacity”.
“The Department of Mineral Resources and Energy has secured 1384MW of new generation capacity that is currently in construction or already in operation. The department has released requests for proposals for the procurement of 5 000MW of renewable energy under Bid Window 7 and 2 000MW of gas-to-power and 615MW of battery storage.
“Transmission capacity remains a challenge especially in the Cape provinces. Eskom has therefore recently published a curtailment regime which unlocks 3 470 MW of additional capacity in these provinces, and which will be essential to the success of Bid Window 7,” he said.
Additional capacity has also been garnered following government’s removal of the licensing threshold for embedded generation.
At least 6 300MW has flowed through this initiative with a third of that supplying mining houses.
Illegal mining and logistics
The President addressed the impact that illegal mining and copper cable theft have on the industry.
On illegal mining, he said: “Since the establishment of a specialised police unit, working with the defence force, we have seen a number of arrests, prosecutions and convictions of the perpetrators of this crime.”
Turning to cable theft and criminality, the President acknowledged that this has “serious impact on key rail freight corridors, including the supply of coal for export through Richard’s Bay”.
“Cooperation between the private sector, Transnet and the security services has resulted in an improvement in the security situation over recent months,” he said.
Delving deeper into the country’s logistics challenges, the President said the system itself is “undergoing a process of rapid and fundamental change to improve its efficiency and position it for the future”.
“By introducing competition in freight rail operations, while maintaining State ownership of the routes, we will unlock massive new investment in South Africa’s rail system. This will support jobs in every sector in the economy, from mining to manufacturing to agriculture.
“Similarly, by upgrading and expanding our port terminals through innovative public-private partnerships, we aim to position South Africa as a leading player in global markets.
“As government, we are alive to the reality that without bold, transformative reforms to the logistics sector, mining cannot flourish. We are working hard, in partnership with the industry, to ensure [the Freight Logistics Roadmap] is implemented without delay,” he said.
The President said mining has a “crucial role to play in building the economy of tomorrow”.
“We look forward to deepening our collaboration with industry as we write a new chapter in the history of South African mining. A story of inclusion, growth, transformation and innovation – and one in which no-one is left behind,” President Ramaphosa said. – SAnews.gov.za
NeoB
Mon, 02/05/2024 - 13:29
Interview with Zando’s CEO on Navigating The Future of Online Shopping in South Africa Cape Town (South Africa): 22 January 2024: Zando.co.za, the leading e-commerce platform in South Africa, announces focus for 2024 under the leadership of newly appointed Chief Executive Officer Morgane Imbert. Zando was established in 2012 and has grown to become one …
If you need expert advice on budgeting, then look no further At the start of any entrepreneurial journey, it might feel as if your money is just flowing one way – out of your account. However, as your business grows and income and expenses begin to balance out, it is crucial to start thinking of …
Telkom’s investment to aid connectivity
Telecommunications provider Telkom says the R5.9 billion it had pledged during the last South African Investment Conference (SAIC) will contribute towards enhancing connectivity, especially as the country prepares for the national general elections this year.
The company is deploying 4G and 5G network infrastructure nationally.
At the fifth South Africa Investment Conference (SAIC) which was held in April 2023, Telkom announced that it would be investing R5.97 billion in Information and Communication Technologies (ICT) infrastructure development across South Africa.
In a statement on Wednesday, the company said it wants to develop and enable solutions that enrich customers’ lives and enable growth in enterprises and small businesses.
Company CEO, Serame Taukobong, believes the investment contributes to South Africa’s economic development, productivity, and job creation.
He added that Telkom, which is a leading information and communications technology services provider, saw it fit to heed the President’s call for investment into the economy.
Government directly holds a 40.5% shareholding in Telkom with a further 15.3% shareholding through the Public Investment Corporation.
He said a remarkable partnership of national importance exists between Telkom and the Electoral Commission (IEC).
“Together the two have successfully executed six national general elections and five local government and municipal elections since 1994. Telkom is again ready to deliver national digital connectivity to support the IEC's crucial role in our democratic process. Our country’s prospects depend on it.
He said digitalisation is a key cog in South Africa’s economic development.
“Our infrastructure forms the backbone of the South African economy, underpinning essential service providers like banks, retailers and the mobile sector.
“Our role is to connect more businesses – big and small – as well as more schools, more homes, and more individuals. Some of our key goals include accelerating mobile growth, driving high speed broadband adoption, expansion of the network, and connecting South Africans to a better life,” he added. – SAnews.gov.za
Edwin
Wed, 01/31/2024 - 11:42
Closing South Africa's Sustainable Development Goals (SDGs) gap will require significant infrastructure and related spending, informed by the right objectives and relevant metrics, according to a joint study by the World Bank and the Development Bank of Southern Africa (DBSA), launched today. The report, entitled: Going Beyond the Infrastructure Funding Gap - A South African Perspective, quantifies the spending needed in education, transport, and water and sanitation to achieve the related SDGs.
The United Nations adopted the SDGs 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. South Africa's commitment to the SDGs is embodied in the National Development Plan Vision 2030. While progress has been made, South Africa has significant work ahead to achieve the SDGs. According to the Sustainable Development Report 2022, South Africa ranks 113 out of 161 countries in terms of its performance in the 17 SDGs.
According to the study, South Africa needs to spend between R4.8 trillion and R6.2 trillion ($254 billion to $329 billion) on transport, water and sanitation, basic education, and Technical and Vocational Education and Training (TVET) between the years 2022 and 2030, to close the SDGs gap in these sectors. The figures for the infrastructure spending are equivalent to spending between 8.7% and 11.2% of Gross Domestic Product (GDP) per year on average. The study asserts that the solution is not always to spend more, but to spend better on the right objectives, with the use of relevant metrics.
The study highlights infrastructure cost drivers and the implications of different policy choices. In addition, the sectoral analyses present detailed results on the spending needs under several scenarios and recommendations to close the gap.
“Infrastructure is required to support the progress towards the 2030 SDG agenda. Education, electricity, water and sanitation, and transport infrastructure are required to improve access to basic services and support inclusive economic growth. This innovative study contributes to the evidence-based body of knowledge, towards understanding the service gap, and the ambitions of each sector, in determining where investments should be made,” says Marie Francoise Marie-Nelly, World Bank Country Director for South Africa.
“Closing the SDG gap will require significant infrastructure and related spending,” says Boitumelo Mosako, Chief Executive Officer of the DBSA. “In addition to the sectoral analyses, this study provides an assessment of the exposure of infrastructure assets to natural hazards and the investment needs to increase their resilience. Our joint study further provides a macroeconomic analysis, which examines the growth implications of the proposed spending and the projected funding gap.”
Achieving the SDGs requires adequate infrastructure in various sectors. This includes good-quality school and college facilities to support student outcomes. Reliable transportation infrastructure and affordable services are also essential for people to access basic services and job opportunities, allowing firms to stay competitive and create better jobs. Furthermore, it involves establishing high-quality water and sanitation infrastructure to provide affordable and safe services. Lastly, resilient infrastructure is essential for sustainable progress towards the SDGs, ensuring long-lasting and environmentally responsible development.
A key finding of the study is that poor quality and management of infrastructure and services undermine the achievement of SDGs. Thus, investing in infrastructure must be supported by proper management, maintenance, and good governance.
Distributed by APO Group on behalf of The World Bank Group.
Now is the time to reflect on your financial state and set meaningful goals for the year to come. Whether you are aiming to build an emergency fund, pay off debt, or invest for the future, establishing clear financial objectives is crucial to achieving long-term stability and success. Stian De Witt, executive head of financial …
Saving money often begins with small changes that snowball into significant savings over time. Here are some lifestyle changes you can implement to save cents that add up to rands: Food and Groceries: Plan your meals: Planning your meals for the week helps avoid impulse purchases and food waste. Utilize a weekly shopping list and …
STOP – Looking for assistance to invest on the Stock Market? Don’t have enough money t buy ONE SHARE? Then give Easy Equities Fractional Share Investing service a bash – you may find it addictive! CLICK HERE to get some EasyMoney and a major portfolio to TRY before you BUY. As we kick off the …
When it comes to the hospitality industry, ensuring the utmost comfort and satisfaction of your guests is paramount. One of the key factors that can significantly impact the guest experience is the quality of hospitality linen, bedding, and mattress protectors. If you’re in search of top-notch lodge supplies to elevate your establishment’s reputation, look no …
Apart from going into a branch, calling a bank feels more human for digital-shy consumers. For many, it is the first port of call for making account changes or moving large sums of money. But how safe is voice banking really, and what are the chances of someone using generative AI to fake a consumer's voice and steal their available funds? As incidents of banking fraud grow exponentially and become increasingly sophisticated, it is time to question whether voice banking is a safe option for consumers.
Impersonation attacks continue to increase
Impersonation is one of the predominant methods fraudsters use to rob consumers. Using identifying information such as personal details or AI-generated voice, criminals can access consumer bank accounts with impunity. According to the Southern African Fraud Prevention Service (SAFPS), impersonation attacks increased by 264% (https://apo-opa.co/3vRJHy3) for the first five months of 2022 compared to 2021.
Gur Geva, founder of iiDENTIfii, explains why. “The technology required to impersonate an individual has become cheaper, easier to use and more accessible. This means that it is simpler than ever before for a criminal to assume one aspect of a person's identity.”
How voice impersonation works
Voice recognition systems in banking rely on a person saying something aloud, such as a unique catchphrase or password. This is vulnerable to exploitation because synthetic AI-generated voice technology has evolved to such an extent that it is indistinguishable from real voices. According to MIT (https://apo-opa.co/3vQzDW2) and Google (https://apo-opa.co/481DexW), generative AI voice cloning tools only need a minute of voice data–which is often scraped from social media–to create a result that is almost indistinguishable from the original.
The potential of this technology is vast. Microsoft, for example, has recently piloted an AI tool that, with a short sample of a person's voice, can generate audio in a wide range of different languages. While this has not been released for public use, it illustrates how much voice as a medium can be manipulated.
The appeal of voice recognition in banking
Voice recognition has a multitude of benefits. It is accessible to a diverse range of consumers, who only need a phone line to perform banking tasks. Voice recognition programs can often pick up a voiceprint much faster than a person can type, which streamlines and reduces friction in the banking process for consumers without needing to enter complex passwords.
“Historically, voice biometrics has been seen as an intimate and infallible part of a person's identity. For that reason, many businesses and financial institutions used it as a part of their identity verification toolbox,” says Geva.
Audio recognition technology has been an attractive security solution for financial services companies across the globe, with voice-based accounting enabling customers to deliver account instructions via verbal commands. Voice biometrics offers real-time authentication, which replaces the need for security questions or even PINs. One of the UK's biggest banks, for example, integrated Siri to facilitate mobile banking payments without the need to open or log into the banking app. An Abu Dhabi based bank introduces a biometric voice and voice-based authentication platform for e-commerce which uses biometric sensors built into a standard smartphone.
“As voice-cloning becomes a viable threat, financial institutions need to be aware of the possibility of widespread fraud in voice-based interfaces. For example, a scammer could clone a consumer's voice and transact on their behalf,” says Geva.
Do South African banks need to do away with voice authentication altogether?
Not necessarily. Thankfully, banks do not rely on a single form of authentication when performing a transaction. As the threat of cyber fraud grows, a rising number of local banks are investing in cutting-edge, multi-layered biometric authentication protocols.
Geva adds, “Our experience in mitigating fraud and our research into rising AI-enabled cybercrime trends has led us to believe that voice authentication can be made safer if it is bolstered by additional remote digital verification methods. We recommend to banking clients that they adopt multimodel identity verification, especially for sensitive transactions.”
In conclusion, voice biometrics in banking still serves several customers, particularly those who may need access to smartphone apps or in-person banking. While fraud risks abound, voice cloning is less of a threat to the public as it is difficult to roll out at scale as criminals would need to have access to substantial personal information for each target. AI voice cloning technology may be cheaper and more accurate, but, if banks employ up-to-date, enterprise-grade biometric authentication processes, they will be better protected.
Geva concludes, “While identity theft is growing in scale and sophistication, the tools we have at our disposal to prevent fraud are intelligent, scalable and up to the challenge. At iiDENTIFii, we believe that face biometrics remains the strongest form of biometrics, as the face can be matched against a government issued, trusted ID document, whereas a voice cannot. This approach is trusted by our clients, which include five of South Africa's leading banks.”
Distributed by APO Group on behalf of iiDENTIFii.
About iiDENTIFii:
iiDENTIFii is an award-winning face authentication and identity verification platform that distinguishes itself through its use of 3D and 4D Liveness® detection. Purpose-built for enterprises across Africa and the Middle East, iiDENTIFii enables frictionless, scalable customer onboarding in seconds from anywhere and on any device. Founded in 2018, iiDENTIFii has become a proven key partner in multiple tier 1 African banks. The technology plugs seamlessly into existing infrastructures, including mobile and web-based platforms. www.iiDENTIFii.com
How integrating Learnerships into your WSP and ATR can elevate your competitive edge Strategic business planning in South Africa needs a forward-thinking approach so when it comes to cultivating a skilled workforce, there is one action that repeatedly delivers – the inclusion of learnerships into Workplace Skills Programmes (WSP) and Annual Training Reports (ATR). “Companies …
Saudi Arabia market presents enormous growth opportunities for SA
The South African - Saudi Arabia Business Council has committed to boosting trade as part of efforts to grow the economies of both countries.
In 2023, South Africa's exports to Saudi Arabia increased to R7.3 billion from R6.6 billion in 2022, while imports from Saudi Arabia decreased to R54.6 billion in 2023 from R73.6 billion in 2022.
The exported goods include agricultural products, motor vehicles, and basic chemicals, whereas the import items mainly consisted of refined petroleum and related products and crude oil.
Speaking at a press briefing in honour of the visiting Saudi business delegation, Co-Chair of the South African–Saudi Arabia Business Council, Stavros Nicolaou, underscored the need to increase trade and investment.
“From my vantage point, the Saudi Arabia market presents enormous growth opportunities for South African companies looking to expand their businesses in the gulf region as shown by local companies that are slowly establishing a presence in that region,” Nicolaou said.
President Cyril Ramaphosa and Minister of Trade, Industry, and Competition Ebrahim Patel have been leading ongoing engagements between South Africa and Saudi Arabia - which have since resulted in local businesses finding a foothold in the vast Saudi Arabia market.
Also speaking at the same media briefing, Dr Hisham Al Amoudi, Vice-Chairman of the Saudi–South Africa Business Council, reaffirmed Saudi Arabia's commitment to investing in South Africa.
Al Amoudi said the South Africa and Saudi Arabia Joint Economic Commission and the Business Council was a good platform to further progress and boost inward investments between the two respective countries.
He said Saudi Arabia is committed to increasing investment across various sectors in South Africa.
"We are committed to increasing investments for mutual benefits and supporting South Africa’s economic growth. Our current investments contribute to South Africa’s Gross Domestic Product,” Al Amoudi said.
The visit by the Saudi business delegation aims to not only strengthen current trade relations but also to explore opportunities for South African companies to increase market access with products that have high export potential to Saudi Arabia.
These products include motor vehicles for the transport of persons, fruits, mineral resources, chemicals, machinery and electrical equipment.
Additionally, the Saudi delegation seeks to boost investment from Saudi Arabia in sectors beyond South Africa’s renewable energy industry. Currently, Saudi is the largest investor in South Africa's local renewable energy sector and ACWA Power has a leading role in this area.
Overall, it is estimated that Saudi investment into South Africa amounts to $1.62 billion.
The Business Council focuses on five main workstreams - energy and renewable energy, tourism, hospitality and entertainment, healthcare and pharmaceuticals, mining and commodities, and food and agro-processing. These areas aim to utilise investment capital from Saudi Arabia while tapping into the opportunities that South Africa offers in these sectors. – SAnews.gov.za
Edwin
Thu, 01/25/2024 - 08:54
In the case of complex air-cooling systems, it is better to proactively address potential issues before they escalate. Let’s be real—nobody wants to be blindsided by a malfunctioning HVAC system, especially during summer. HVAC (Heating, Ventilation, and Air Conditioning) systems play an important role in ensuring comfort and air quality in residential, commercial, and industrial …
The automotive landscape is vast and diverse, with a multitude of manufacturers vying for attention. Among them, Chery, a Chinese automobile manufacturer, has carved out a niche for itself, particularly in the realm of Sports Utility Vehicles (SUVs). Known for offering affordable and practical vehicles, Chery has expanded its global footprint significantly in recent years. …
Clairfield International, a top-ranked Europe-based global corporate finance partnership, and Rand Merchant Bank (RMB) (www.RMB.co.za), a division of FirstRand Bank Limited (part of FirstRand Limited, the largest financial services group by market capitalisation in Africa), are delighted to announce that they formally agreed to partner, marking both firms' commitment to global expansion and delivery of top-quality corporate finance advisory solutions for clients.
This partnership will position RMB as the gateway for Clairfield clients into South Africa, Nigeria, and the broader sub-Saharan African market, while Clairfield opens doors for RMB into Europe, the Americas, and the Asia-Pacific region. Following from Clairfield's successful partnership with top Japanese advisory firm Yamada Consulting in 2023 that covers Japan and the Association of Southeast Asian Nations, this new access to sub-Saharan Africa creates unparalleled coverage for midmarket corporate, private equity, and family business clients worldwide.
Clairfield International advises entrepreneurs, multinational corporations, and financial investors on M&A and other corporate finance solutions with special expertise in cross border situations through over 30 country teams globally. Clairfield International has completed 780 transactions on behalf of clients in the last five years totalling EUR 30 billion in disclosed deal value.
“We are optimistic about Africa's long-term growth, driven by technology, the high demand for infrastructure and rapid urbanisation, and we are eager to explore business opportunities across the continent. RMB has a corporate finance team of over 70 people, and with their reach and expertise on the ground, Clairfield can vastly expand its client offerings across sub-Saharan Africa,” says Alexander Klemm, Executive Chair of the Clairfield board of directors. “This partnership is a transformative step for both firms, enhancing our global footprint. Together we can access exciting global deal flow, buyers, and investors for our clients.”
RMB's award-winning corporate finance team partners local and global clients offering differentiated advice and innovative thinking on strategic topics as well as access to capital to enable their growth ambitions. RMB Corporate Finance has an unrivalled track record in corporate finance advisory in sub-Saharan Africa and is consistently the top-ranked advisor in the league tables in South Africa and Nigeria.
“This partnership underscores our commitment to building an M&A advisory capability that is internationally relevant to our clients,” says Krishna Nagar, Co-head of Corporate Finance at Rand Merchant Bank. “The increase in M&A activity across Africa positions us favourably with companies seeking global opportunities and expertise. Our collaboration with Clairfield has already proven fruitful as interest from Clairfield clients is evident in our mandates. We look forward to a continued partnership and access to Clairfield's expertise in developing and facilitating that global deal flow.”
Distributed by APO Group on behalf of Rand Merchant Bank.
About RMB:
Rand Merchant Bank (RMB) is a leading African corporate and investment bank (CIB) and part of the largest financial services group (by market capitalisation) in Africa – FirstRand Bank Limited (which is wholly owned by FirstRand Limited). We offer our clients innovative, value-added advisory, funding, trading, corporate banking, and principal investing solutions.
With a presence in 10 African countries, we have a significant footprint on the continent. We also have access to a network of retail banks, representative offices and branches across Africa, the UK, India and the US.
For more information visit: www.RMB.co.za
About Clairfield International:
Founded in 2004, Clairfield International provides advisory services on middle-market transactions for large companies, private investors and private equity, public sector clients, and family businesses. Headquartered in Europe with locations in every major region worldwide, we offer clients access to corporates, investors, key decision-makers, and sector experts, combined with a deep understanding of local regulations and cultures. Closing over 190 transactions annually, Clairfield ranks as one of the top independent M&A advisors in league tables worldwide.
For more information visit: www.Clairfield.com
By Gabriela Ramos, Assistant Director-General for the Social and Human Sciences of UNESCO, and Herbert Mensah, President of Rugby Africa (http://www.RugbyAfrique.com)
With a current population of over 1.4 billion, Africa is expected to reach 2.5 billion by 2050. By 2030, young Africans are projected to constitute 42 percent of the world's youth. Looking ahead, by 2100, nearly half of the world's children will be African, and Africa will then constitute 40% of the global population. This demographic transformation presents an unprecedented opportunity for the continent and the world.
In a future where Africa's youth will constitute the majority of the global youth population, it is essential to recognize that the path of international sports bodies will be inextricably linked to Africa. With a rapidly expanding fan base, a growing pool of talented athletes, and a substantial TV audience, Africa becomes a focal point for the future of sports.
Rugby, with its core values of integrity, respect, solidarity, passion, and discipline, stands as a powerful catalyst for character development. These values extend far beyond the playing field, instilling life skills that are essential for young people as they navigate life's challenges. Integrity on the pitch translates to honesty in life's challenges, respect in victory and defeat fosters empathy in relationships, and solidarity in teamwork becomes community service, cultivating a spirit for the common good. South Africa, a triumphant four-time rugby world champion, has consistently exemplified these values, with its current captain Siya Kolisi standing as a role model for the entire African continent.
Empowering African youth through rugby is not just about playing a fun sport; it's about equipping them with the tools they need to drive continental growth and reach their fullest potential. Every young rugby player has the potential to be a future leader, an agent of positive change, and an ambassador for unity. By nurturing their talents and investing in their development, we set in motion a journey that contributes not only to the advancement of rugby across Africa but also to the progress of our societies at large.
Rugby is actively implemented in 39 countries across the continent, and Ghana, Nigeria, and Zambia are among the six emerging nations that are enjoying strong growth in rugby globally, according to data published in September by World Rugby. The growth of rugby in Africa, coupled with the sport's rising global popularity, creates a promising economic ecosystem and offers immense potential to drive human development and livelihoods. Beyond its cultural and sporting importance, the rugby industry offers diverse opportunities for revenue generation, including sponsorships, broadcasting deals, merchandise sales, and event hosting. These economic benefits extend to ancillary industries, such as sports tourism and sports technology, attracting international visitors, fostering tech startups, and driving infrastructural development. Additionally, investments in youth development, infrastructure, and training programs can lead to job creation, and skills development, contributing to economic growth and community well-being. This highlights rugby's significant role in advancing economic development across Africa. In harnessing the potential of rugby, Africa can not only foster sporting excellence but also stimulate economic advancement and social progress on the continent.
However, this transformative journey requires commitment and investment. African governments, development agencies, and international sports governing bodies, such as World Rugby, need to recognise the pivotal role that rugby can play. It is a responsibility we owe to the future of our continent and the world, and Rugby Africa, the continental governing body of rugby in Africa, is eager to collaborate with global stakeholders to strengthen the rugby value chain on the continent. Together, we aim to leverage the attributes of rugby in addressing social challenges and enhancing individual and community well-being.
Distributed by APO Group on behalf of Rugby Africa.
Adults spend at least a third of their lives at work. Whether it’s an 8-5 desk job, shift work, or running a business, a big chunk of time and energy goes into work. In a world dominated by technology and ever-increasing pressure, it’s easy to get carried away by workplace demands at the expense of …
Structural reforms remain key for SA economy
Finance Minister Enoch Godongwana has reaffirmed South Africa’s commitment to engaging in structural reforms that will foster an environment fertile to economic growth and competitiveness.
The Minister was speaking during a panel discussion at the World Economic Forum (WEF) Annual Meeting held in Davos, Switzerland.
Godongwana is leading the South African delegation to the critical meeting.
Structural reforms in South Africa are targeted at – among other things – electricity, infrastructure, water and logistics, and are driven by Operation Vulindlela.
Operation Vulindlela is a joint initiative of the Presidency and National Treasury to accelerate the implementation of structural reforms and support economic recovery. It aims to modernise and transform network industries, including electricity, water, transport and digital communications.
The objectives of the reforms are aimed at:
“There are a number of things we are doing to deal with structural reforms. One of the perennial problems we’ve had has been on the energy front. Massive structural reforms… are dealing with that question.
“A new challenge has been the logistics sector, where we are investing a lot in it. We have been trying to change the skills composition to the extent that we don’t have and we have provided an environment where we can import skills with ease.
“So there are lot of structural reforms that we have engaged in in order to make sure that we can grow the economy and be competitive,” Godongwana told the panel.
Historical commitment
During the pre-WEF media breakfast briefing held last week, Godongwana emphasised that structural reforms remain crucial.
“Structural reforms remain crucial to revive medium-term growth prospects amid a constrained policy space. We remain steadfast in carrying out structural reforms to support and accelerate economic recovery.
“As government, we remain resolved to deal with the energy and logistics challenges that are adversely impacting our economy,” he said.
In his Medium Term Budget Policy Statement delivered in November last year, Godongwana presented the reforms specifically targeted at Eskom and Transnet.
On Transnet, he said: “Rail underperformance is estimated to have cost up to 5% of GDP in 2022, with losses in the region of R50 billion in the minerals sector alone.
“Given the scale of the challenges, the National Logistics Crisis Committee was instituted to broaden reforms in the sector and prioritise reforms aimed at resolving the immediate crisis, while also addressing the structural aspects hampering the sector.”
On electricity, Godongwana said: “[We] recognise the potential loss of revenue due to private electricity generation, and the fact that traditional revenue models relied on by public entities like Eskom, face serious disruption.
“It is for these reasons that our electricity reforms are holistic, evidenced-based, and geared to find a balanced solution to our electricity supply challenges. They take into account not just a particular entity but the transformation of the sector as a whole.” – SAnews.gov.za
NeoB
Tue, 01/16/2024 - 12:18
For income-oriented investors, South Africa’s Johannesburg Stock Exchange (JSE) holds a treasure trove of dividend-paying gems. But which stocks have consistently showered shareholders with the sweetest rewards over the past five years? Buckle up, as we dive into the world of JSE high-yield history makers: Top Contenders: RMB Holdings (RMB): This financial services behemoth reigns …