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In our fast-paced world, convenience often trumps sustainability. One glaring example of this is the widespread use of disposable coffee cups. While these cups offer a convenient solution for our on-the-go caffeine fix, their impact on the environment is significant and concerning. In this article, we’ll delve into the environmental issues posed by disposable coffee …
Sewing co-operatives delivered thousands of school uniforms to learners in need, but the department is disowning them
The investment potential on the KZN South Coast is being uncovered with manufacturing identified as a key growth sector. Prominent South African babywear manufacturer, Shiva Clothing, exemplifies the opportunities for success in the region. Established in 1992 in a garage by husband-and-wife team Dolly and Siva Naidu, the small cut, trim, and manufacture (CTM) facility …
The world of event seating and casual furniture is seeing transformative changes with innovations in plastic chair designs. From elegant options for weddings to sturdy choices for outdoor gatherings, the variety and quality of chairs available today are unprecedented. Trends in Plastic Chair Design Plastic chairs have undergone significant evolution, shifting from merely functional to …
A Leader in Auto Recycling and Spare Parts Lou Appels is one of Johannesburg’s premier destinations for quality used auto parts and scrap yard services. Established with a long history in the auto spares industry, Lou Appels offers an extensive inventory that caters to a wide range of vehicle makes and models. Comprehensive Services and …
Newly launched Dube TradeZone attracts R1.8 billion in early investment
The Dube TradePort Corporation (DTPC) has officially launched the second phase of the highly successful industrial precinct and Special Economic Zone (SEZ) adjacent to the King Shaka International Airport, the Dube TradeZone 2.
The business entity of the KwaZulu-Natal provincial government recently hosted a ribbon-cutting event where they also previewed two factories worth over R180 million which are currently under construction within the precinct.
DTPC Board Chair, Mpumelelo Zikalala, said despite the constrained economic environment over the past two years, the corporation has secured seven private sector investors for Dube TradeZone 2.
Four of these investors have begun constructing their facilities.
The total private sector investment value secured in Dube TradeZone 2 amounts to R1.8 billion and is expected to create 600 jobs within the next five years.
Dube TradeZone 2 will target investors in the manufacturing, logistics and automotive sectors while facilitating the planned expansion of several phase one-based enterprises.
The launch of the second phase of the TradeZone follows the successful implementation of Dube TradeZone 1, which has 50 investors and full tenants. These include international companies such as Samsung, Mahindra, DHL, Chem Energy and PepsiCo-Futurelife.
Economic Development, Tourism and Environmental Affairs MEC, Siboniso Duma, welcomed the investment as he reflected on the 30 years of freedom and democracy.
He noted the establishment of SEZ as one of the achievements of a democratic government.
He cited this investment as an indication that SEZs are instruments for job creation and economic development.
“As government, we are focusing on SEZ for a good reason. They are designed for specific developmental purposes, to develop export-orientated industries, attract foreign direct investment and technology transfer and achieve the generation of employment opportunities.”
The MEC said SEZs are an effective instrument to resolve “disturbing” levels of inequality, poverty and unemployment, which are strongly marked by spatial, racial, class and gender factors.
In addition to job creation, Duma said SEZs are broadening the municipal revenue collection base to improve the quality of life in the municipal areas, as well as the quality of municipal services.
“This makes SEZs one of the key instruments for municipal economic growth and development,” the MEC explained.
To date, the 26-hectare TradeZone 1 has attracted more than R2.8 billion in private sector investment from enterprises focused on air-related logistics, distribution and light manufacturing.
It includes the Dube TradeHouse, a dedicated facility for freight forwarders and shippers with airside access via an overhead conveyor air bridge to the adjacent, state-of-the-art Dube Cargo Terminal.
Dube TradeZone 1 is home to notable exporters that service the sub-Saharan African market as well as markets in Asia, Europe, and the United States.
In 2023/24, Dube TradePort tenants exported goods worth R610 million.
Dube TradeZone 2, will open an additional 45 hectares of industrial land for development and brings to market another 23 fully serviced sites, which range in size from 3 000m² to 57 000m².
It will also include three Dube TradePort-owned warehouses, one of which will accommodate medium-sized businesses enabling the expansion of small businesses located in the mini factories.
The two factories include the R166-million Yangtze Optical Africa Cable plant and R17.5 million development by HRMP, a 100% Black South African-owned logistics company that specialises in the warehousing and distribution of graphite electrodes. This new facility was funded by Ithala Development Finance.
Trade and Investment KwaZulu-Natal (TKZN) CEO, Sihle Ngcamu, welcomed further foreign investment by Yangtze Optical Africa Cable, which is already producing optical fibre cables and home solution cables for the local, Zambian, Namibian and Botswanan telecommunications markets at its facility in TradeZone 1.
This latest investment is expected to deliver a further 250 jobs over the next five years.
To date, Dube TradeZone has attracted a total of R4.6 billion in private sector investment and created more than 5 000 permanent jobs. – SAnews.gov.za
Gabisile
Sun, 05/05/2024 - 08:11
CTFL Masterplan has had a positive impact on local industry
More than 20 000 jobs have been created in the past five years since the clothing, textile, footwear and leather (CTFL) industry’s masterplan was launched.
This was reported to the Minister of Trade, Industry and Competition Ebrahim Patel by stakeholders at a meeting in Cape Town on Thursday.
Major retailers have sourced 371 million more units of clothing items from local manufacturers over the same period, a 51% increase on the baseline of units bought locally. The volume of clothing imported from China has dropped in major clothing categories, and the value of the clothing imported increased, showing success in the fight against under-invoicing.
According to a statement by the department, these figures were released at a meeting at the Prestige Clothing factory, owned and operated by South African retailer, TFG, as part of a report back to CEOs of large retailers and manufacturers, as well as leaders from labour and government.
“Over this period, we've been able to take an industry which had been decimated by imports and low investment, and stabilise it through the collaboration and partnership which the masterplan has provided,” Trade, Industry, and Competition Minister Ebrahim Patel said at a media briefing after the meeting.
“These efforts have built a platform which has led, in just a short time, to increased local procurement; increased manufacturing employment; and better administration of imports at the country’s ports of entry,” Patel said.
The masterplan was developed with the consensus of stakeholders in the sector and included undertakings in place by retailers to increase their procurement of locally manufactured CTFL products.
In return, manufacturers in the sector committed to increasing investment in productive capacity and technology, while building manufacturing ecosystems to advance transformation and inclusion, and advance worker empowerment.
Workers in the sector committed to efforts to strengthen the industry and promote the Buy South African campaign in communities.
Government meanwhile committed to an upgrade of customs enforcement to stem illegal imports, a competitiveness enhancement incentive program and implementation of appropriate CTFL tariffs and rebates.
“The decrease in imported volumes, accompanied by increasing declared values is great news for the industry and jobs. It means that we are making progress to levels where imported clothing and footwear are being declared at their fair prices.
“The industry has faced systematic import fraud through under-invoicing of garments and their illegal import. This has the effect of unfairly pricing imports below their market value and depriving the fiscus of revenue for healthcare, education and crime-prevention.
“The support of the South African Revenue Service has been important and valuable,” the Minister said.
The department has provided R2.5 billion to the industry through the Clothing, Textiles, Footwear, and Leather Growth Program (CTFLGP) to improve its competitiveness and productivity.
In addition, R4.4 billion in loan capital has been provided by the Industrial Development Corporation to help increase productivity and meet increasing local demand.
“The last five years of collaboration and partnership have been immensely successful. The industry was on its knees, with many suggesting it was in terminal decline. However, since the masterplan was implemented, we’ve seen an increase in investment, and today the industry is revitalised, employing more people than it did when we started this journey,” said the CEO of TFG, Anthony Thunstrom, at the same media briefing.
“Investment and training have meant that we can manufacture as efficiently in South Africa as anywhere else in the world. We generate our best profitability on South African-made products. Local manufacturing has had a real positive impact on the performance of our business,” he said.
Herman Pillay, CEO of the TCI Apparel Group, said: “We’ve seen a huge improvement in manufacturing since 2019. We’ve seen the establishment of new companies, many of them black-owned. We’ve had good support from the retailers, but at the same time, we see increasing opportunities as we improve these channels of collaboration.
“The collaboration we’ve seen under the Masterplan in the CTFL sector is a real case study of what can be achieved when stakeholders come together.”
Speaking on behalf of workers, Susan Khumalo, President of the Southern African Clothing and Textiles Workers Union (SACTWU), said: “The masterplan came at an important time, after years of significant challenges for the industry. With the inception of masterplan, we have seen positive change in the industry. It’s only been five years, and we hope with the way forward to can see more growth and more jobs for workers.”
“One of the things we should not neglect is the power of social dialogue. The masterplan has provided a platform where problems can be collectively solved through the energy and creativity of all stakeholders, ultimately to grow employment and manufacturing output,” said Etienne Vlok, union researcher.
Ashley Benjamin, General Secretary of the National Union of Leather and Allied Workers (NULAW), said: “We are seeing a number of success stories in the footwear manufacturing industry. A number of companies are now producing high-end leather footwear for the export market, including the United States.”
Minister Patel emphasised that the industry in 1994 is vastly different from that of today.
“The CTFL industry was very inwardly focused and relied heavily on high tariffs and very low wages. Immediately following the introduction of democracy in South Africa, we were faced with two compounding challenges, namely the reduction of tariffs agreed to by the previous regime before the end of apartheid, and the impact of China entering the global market. Many countries around the world lost their clothing industries.
“In the past 15 years, while there were significant job losses, South Africa managed to hang on to part of its industry.
“By 2009, the industry made its first attempt at a restructuring, with new trade measures and a competitiveness programme that followed, and with a better collaborative response, which was finally formalised with the signing of the masterplan in 2019.
“Looking forward, we have identified a number of things we can do to take advantage of the emerging opportunities which the masterplan brings. We need to consolidate and deepen the partnership, and improve the collaboration across the value chain from textiles to garment manufacture to retailers and workers.
First, we need to strengthen footwear production in South Africa. Second, we want to identify additional products for localization in clothing. Third, there needs to be greater visibility of South African-made products in retail stores and to address the challenge of certain non-South African online platforms that uses tariff loopholes.
“Finally, there is an opportunity to tell the transformation storyline better. We have a large number of black industrialists operating in the space,” he said.
Michael Lawrence, Executive Director of the National Clothing Retail Federation (NCRF) said: “The masterplan is also being used as a platform for sustainability and the greening of the industry. The masterplan is not just solving the problems of yesterday, but addressing the problems of tomorrow as well.”
The CTFL sector now employs more than 500 000 South Africans, including 250 000 manufacturing jobs and more than 280 000 retail jobs. – SAnews.gov.za
Edwin
Fri, 05/03/2024 - 09:58
Supa Quick is urging motorists to make 2024 the year in which they change the way they see tyres. “Your tyres are the only part of your vehicle that makes contact with the road” says Werner Wernich, Supa Quick Regional Operations Manager. “Reputable tyre manufacturers have enormous R&D budgets devoted to improving the tyre’s technology, …
Have you ever wondered what’s driving the cooking oil prices in South Africa Understanding these dynamics can provide valuable insights into not only the global economy, but also the cost of a pantry staple we can’t do without! Let’s take a closer look at some of the factors that affect cooking oil prices, with Morne …
SA students to participate in solar panel programme in India
Twenty-two female Technical and Vocational Education and Training (TVET) engineering students are set to participate in a solar panel manufacturing learning programme in India.
The Minister of Women, Youth and Persons with Disabilities, Dr Nkosazana Dlamini Zuma in partnership with the Energy and Water Sector Education and Training Authority (EWSETA), briefed the media on the women’s participation in the programme on Friday.
The 22 TVET college engineering students hail from the Limpopo, North West and Free State provinces.
“Emanating from the 2023 South Africa chairship of BRICS [Brazil, Russia, India, China and South Africa], the Solar Technology Training Programme for women in South Africa is one of the resolutions from the BRICS Women in Business meeting that calls for women to lead community initiatives and take part in resolving the energy crisis in South Africa particularly in rural areas,” said the Department of Women, Youth and Persons with Disabilities (DWYPD) in a statement.
“Access to electricity should always be easily available given the important role it plays in many aspects of human and wellbeing. It is an essential service and governments must make societies function better through the provision of this kind of basic [service],” said Minister Dlamini Zuma.
The programme is expected to provide theoretical and practical skills in solar panel manufacturing and installation.
The learnership programmed is supported by key stakeholders such as the Department of Mineral Resources and Energy, the EWSETA, the Council for Scientific and Industrial Research (CSIR) and the National Youth Development Agency (NYDA).
The DWYPD said that starting and operating a solar business in South Africa with solar products, from panels and batteries to solar-powered appliances, can be a lucrative venture.
“The DWYPD in partnership with the EWSETA will continue to engage stakeholders such as the Department of Trade, Industry and Competition, Department of Small Business Development to open windows of opportunities to the female learners to venture into business when they return to South Africa in August,” said the department.
The programme is set to start on 1 May 2024.- SAnews.gov.za
Neo
Sat, 04/27/2024 - 13:08
By Onyi Nwaneri CEO of Afrika Tikkun Three decades into our constitutional democracy, the remnants of our dark past continue to lurk in the layered echelons of our unequal society. In commemoration of Freedom Day, on 27 April, we are reminded that though blood was shed and sacrifices were made to attain this freedom, not …
Mjwara's departure bittersweet, says Minister Nzimande
Minister of Higher Education, Science and Innovation, Professor Blade Nzimande, has described Dr Phil Mjwara’s farewell as bittersweet for both the department and the country’s science community.
The Department of Science and Technology (DSI) hosted a farewell for Mjwara, the longest-serving DG in the country, recently.
After serving for 18 years as DG, Mjwara has been praised for his significant contributions to the department and the country.
Mjwara, whose last day in office was on 28 March, was praised for his visionary leadership and dedication to a broader perspective.
“That’s one thing I enjoyed about you is you always contextualise and look at the bigger picture. But at the same time being specific about what needs to be done,” Nzimande told the attendees at the farewell.
According to the Minister, Mjwara has played a crucial role in implementing key policies and institutional interventions with his strategic insights.
“I want to thank you for teaching me to be a science policy person. You know those who come from what is called a Marxist intellectual tradition. They usually are very arrogant about science. But thank you very much for teaching me many aspects of science that I didn’t know about,” he told Mjwara.
Mjwara holds a BSc, MSc, and PhD from the University of the Witwatersrand. His academic career includes serving as a Professor of Science and Technology Policy at the University of Pretoria, and physics lectureships at the Universities of the Witwatersrand, South Africa, and Fort Hare.
Nzimande also saluted Mjwara for the outstanding work and the role he played in the management of the COVID-19 pandemic under the leadership of President Cyril Ramaphosa.
He was also lauded for outstanding projects he was involved in such as hydrogen strategy, vaccine manufacturing innovations, indigenous knowledge systems projects and the National Policy Data Observatory.
“Being in the department has been a learning curve for me and your presence has truly anchored me as a science policy person,” Nzimande added.
The Minister also congratulated Mjwara because, for the first time in South Africa, the country has developed the capacity for the local production of vaccines.
He gifted the retiree with a shield and a spear as a symbol for the fights he fought and conquered as a civil servant.
“I want to say something to the staff of DSI that indeed we have very big shoes to fill.”
Mjwara also took the podium to thank the guests for honouring him with their presence. He paid tribute to the Ministers and Special Advisors who have worked with him and his team over the years.
“I appreciate that Ministers provided us with roles and gave us the space to do what needed to be done. The role was very clear.”
When he began his journey at DSI, he expressed his desire to create a machine that would make everyone proud.
“I am proud that we built this machinery. It will take somebody very skilful to [try to] dismantle this. I want to say here that I wish them all the best in trying to do it. Because it's been designed with all the checks and balances to make sure that those who have the ambitions to destroy this will not get into the entire DSI family I'm very proud of,” he said, an utterance which was met with cheers.
He expressed his sincere gratitude to his staff from the Pretoria and Cape Town offices for all the support they provided to him and his family.
Mjwara gave a special dedication to his assistants. “I am grateful that they all stayed with me because I can be very difficult.”
He paid tribute to his wife, his three adult children, and his newly wedded daughter-in-law. “I know that I haven’t always been present and I apologise for not being there all the time but I hope now you know where I was,” he quipped.
He said that he has not taken their support and sacrifice for granted.
During the event, Bongiwe, Mjwara’s daughter, shared some personal anecdotes and paid tribute to her father's character and achievements.
“With everything, he ran the household very systematically and had great organisational skills with everything. It is amazing to see everything that our father has done and how he has remained as a person. He's been to all these places, met all these people but continues to remain humble.”
She described her dad as a humorous man with a charming smile.
“I just hope that in your projects going forward you’ll continue to use him but also let him enjoy life, enjoy his legacy and his family. You have set such a beautiful standard for excellence, respect, and humility and we are proud of you.” – SAnews.gov.za
Gabisile
Fri, 04/26/2024 - 13:37
European partners have been vocal about plans to boost clean, smart and secure investments in Africa's energy sector, with the EU's Global Gateway Initiative aiming to mobilize €150 billion across the continent through 2027. Motivations for this range from securing the bloc's own energy supplies, to strengthening energy diplomacy on the continent, to generating high returns on critical infrastructure investments. Given Europe's focus on sustainable energy development, the upcoming Invest in African Energy (IAE) forum (https://Invest-Africa-Energy.com) – taking place in Paris on May 14-15 – will showcase opportunities for the European and global private sector to develop and advance natural gas, renewable energy, green hydrogen and decarbonization technologies across the continent, with a view to supporting Africa's role in the global energy transition.
LNG
As Africa looks to develop its gas for domestic and export markets, LNG (https://apo-opa.co/3UD3ivS) represents a critical investment avenue for European partners and investors. Representing a relatively clean-burning fossil fuel that can deliver energy reliably and to scale, LNG has been positioned as the fuel of the future and the key to meeting rising energy demand in Africa and globally. European majors and independents are already at the helm of developing world-class LNG facilities across the continent, from bp's Greater Tortue Ahmeyim LNG in Senegal and Mauritania, to Perenco's Cap Lopez LNG Terminal in Gabon, to Eni's Congo LNG in the Republic of Congo. The continent features myriad opportunities in the exploration, transport, processing and storage of natural gas and associated EPC contract value in establishing integrated gas value chains.
Renewables
Africa's solar potential is measured at 7,900 GW – more than 1,000 times its current solar generation capacity – while wind potential is measured at 461 GW, which equates to 100 times the current wind generation capacity. The continent is home to considerable technical potential for hydropower – which accounts for approximately 17% of its electricity generation on average – and is set to overtake Europe in installed geothermal capacity by the end of the decade. Given Africa's prolific energy needs, decentralized power solutions (https://apo-opa.co/4aRnFuC) – particularly from renewables – hold the capacity to help electrify rural parts of the continent, while aligning with net-zero targets.
Green Hydrogen
Owing to its substantial and often co-located renewable resources, Africa provides optimal conditions for the development of green hydrogen (https://apo-opa.co/4aRgItB) and green ammonia, estimated to be able to produce a surplus of 20-40 million tons of green hydrogen per year by 2050. The continent is home to several major green hydrogen projects – namely, the 15 GW Aman project in Mauritania, 3 GW Tsau Khaeb project in Namibia and 4 GW SCZONE project in Egypt. Germany has emerged as an active player in this domain by investing in and lending technical expertise to hydrogen development in Angola, Mauritania and Namibia, as well as pledging to invest €4 billion in sustainable energy projects in Africa – including renewable power, green hydrogen and critical raw mineral extraction – through 2030. The EU is targeting ten million tons of imported renewable hydrogen per year by 2030, offering development finance and production subsidies to help African countries develop their green hydrogen supplies.
Carbon Capture and Storage (CCUS)
Capturing carbon dioxide produced from burning fossil fuels or as a by-product of industrial manufacturing processes, CCUS technology represents a dynamic investment opportunity within Africa's energy transition. It holds a wide range of applications – from enhanced oil recovery to fuel production to waste-to-energy plants – and aligns with Africa's decarbonization goals, while enabling much-needed energy production. CCUS projects are already underway in South Africa's Mpumalanga Province – where it will capture carbon dioxide from coal-fired power stations – and at Egypt's Meleiha Field, part of a broader $25-million, multi-phase CCUS project. CCUS aligns closely with the EU's broader decarbonization goals and represents a strategic area of potential collaboration between European and African service providers by way of sharing best practices, technical expertise and technological innovation.
Distributed by APO Group on behalf of Energy Capital & Power.
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In today’s global market, where diverse dietary needs and preferences abound, the demand for kosher certification is on the rise. Whether it’s for religious observance, dietary restrictions, or simply a desire for quality assurance, consumers worldwide seek products bearing the emblem of kosher approval. Kosher certification serves as a testament to the meticulous adherence to …
Issues in a global supply chain can significantly impact businesses, especially Small and Medium Enterprises (SMEs), which often lack the resources to navigate disruptions as effectively as larger corporations.Pre-Covid 19, the world was moving towards single ports of procurement to take advantage of economies of scale and lower costs that often resulted from using a …
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PRASA reaches milestone with production of 200 trains
The Passenger Rail Agency of South Africa (PRASA) has achieved a significant train production milestone with the 200 modern high-tech Electric Multiple Units (EMUs) manufactured in Gauteng.
“The first train set hit our railway tracks in February 2017. Today, we celebrate this progress made towards the overarching goal of 600 trains. With these new trains, we are contributing towards the reduction of carbon emissions and the promotion of sustainable transportation alternatives,” Minister of Transport Sindisiwe Chikunga said on Tuesday in Cape Town.
These efforts are part of PRASA’s Rolling Stock Fleet Renewal Programme which will, among other things, see the manufacturing of new trains. The programme is expected to create approximately 1 500 direct and 8000 indirect jobs over the 10-year period.
“As part of the first phase of the programme, 1 631 direct jobs have been created during the construction phase of the R1 billion factory, and Gibela has now employed over 1 198 full time employees.
“As this government we understand the need to create jobs that will benefit local communities. The workforce comes from local communities such as Duduza, Vosloorus, Katlehong, Kwa-Thema, Tsakane and Alfra-Park have benefitted from this project,” the Minister said.
In addition to the construction jobs, Gibela has employed a total of 1 205 people for both manufacturing and maintenance activities, 37% of those 1 205 come from immediate communities.
“Skills development and knowledge transfer is key for this government. About 20 000 training programmes have been established to enable the transfer of skills and development of employees from top management to unskilled employees.
“In 2019 Gibela Rail in partnership with Small Enterprise Development Agency and City of Ekurhuleni established a multi-sector business incubator, the doors opened in 2020 in the Kwa-Thema Township,” she said.
To date there are 140 Small Medium and Micro Enterprises (SMMEs) that were trained, mentored and coached. A total of 193 SMMEs also accessed Business Development Support.
“Gibela provides bursaries for universities and Technical and Vocational Education and Training (TVET) colleges, internships, learnerships, apprenticeships, a railway introduction course and other relevant programmes.
“Through these interventions, we are helping to nurture the next generation of skilled and capable individuals who will not only improve their own futures, but also the futures of their families, communities, and our larger society.
“Since the inception of the programme, we have contracted 1 665 bursars and spent over R127 million towards their studies,” Chikunga said.
Not only is government revitalising the railway and manufacturing industry through skills development that will reignite the industry at large, PRASA is also changing the lives of the previously disadvantaged people and the livelihoods of communities.
“Our young people are now trained as artisans, engineering technicians, technologists and designers, just to name a few. The investment made includes R135 million invested in Enterprise and Supplier Development initiatives, developing SMMEs.
“A total of R743 million has been invested in skills development to support inclusion in the rail sector. Over this 10-year period, Gibela has committed to train and develop 19 500 individuals in various skills such as engineers, artisans, technicians, and technologists.
“These were the contractual obligations that Gibela had to undertake as part of this 10-year project,” the Minister said. – SAnews.gov.za
nosihle
Tue, 04/23/2024 - 13:08
Cabinet welcomes R500 million investment for upgrade of Tetra Pak facility
Cabinet has welcomed the reopening of the Tetra Pak facility in KwaZulu-Natal by President Cyril Ramaphosa, which attracted an investment of R500 million.
The investment forms part of the Presidential Investment Mobilisation Drive, where government set the ambitious target in 2018 to attract R1.2 trillion investments over five years.
“Last year at the fifth South Africa Investment Conference, which marked end of the first phases of our investment mobilisation cycle, more the R1.5 trillion in investment commitments were raised. These investments translate into new factories, jobs in communities and greater economic activity around our country. Cabinet is confident that our investment drive will reignite economic growth and uplift our economy,” a Cabinet statement said on Monday.
Tetra Pak is a global leader in packaging and processing solutions for the food industry and has had a presence and manufacturing footprint in South Africa since 1963.
WATCH |
The factory was originally built 45 years ago, in 1979. Through this expansion, Tetra Pak will be exporting products to the continent.
VIEW | Click here for more images of the Tetra Pak Manufacturing plant in Durban.
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Cabinet held a special Cabinet Meeting on Wednesday, 10 April 2024. – SAnews.gov.za
nosihle
Mon, 04/22/2024 - 15:15
India-listed Varun Beverages Limited (“VBL”), the largest PepsiCo bottler outside of the USA and China, entered into an agreement to acquire 100% of the shares in The Beverage Company Proprietary Limited (“BevCo”). RMB (www.RMB.co.za) acted as sole financial advisor to BevCo and selling shareholders, including a Private Equity Fund managed by The Rohatyn Group (post the completed merger of Ethos Private Equity with The Rohatyn Group in April 2023) and Nedbank Private Equity, in a deal with an enterprise value of R3 billion.
BevCo, is one of the largest carbonated soft drinks producers in Southern Africa. Their portfolio consists of the recognisable brands Jive, Coo-ee and Reboost. BevCo also bottles and distributes PepsiCo-branded non-alcoholic beverages in South Africa and has five manufacturing facilities in the country, in addition to operations in Lesotho, Eswatini, Namibia, and Botswana.
“Having invested in 2017, The Rohatyn Group's Africa Private Equity team together with our partners and the management team have built a focused non-alcoholic beverage platform. We executed our original investment thesis over a seven-year period and today the consolidated BevCo is in excess of three times the size and continues to grow its market share organically. VBL brings significant resources and expertise to invest in BevCo's product offering and grow PepsiCo's brands in Southern Africa, while expanding their presence on the continent,” says Glynn Potgieter, Managing Director at The Rohatyn Group.
There are always multiple challenges with cross-border transactions, in this instance including the requirement for compliance with both the Indian Stock Exchange and South African regulations. Regulation in India required a restructure of the BevCo group as well as the transfer of its debt facilities and subsequent deregistration/liquidation of more than ten entities within the group structure. This had implications on what would normally be a standard warranty and indemnity insurance policy. The transaction showcases RMB's advisory capability in successfully navigating complex cross-border transactions and ability to access international buyers for high quality South African assets.
In addition to the corporate finance advisory role to BevCo, RMB's South African and India teams assisted with refinancing the existing debt within BevCo as well as providing incremental acquisition finance for the transaction, in addition to facilitating the flows and foreign exchange conversion for the deal. This demonstrates RMB's expertise and comprehensive solutions offering across the Indo-Africa corridor. With a footprint and expertise based both in South Africa and India, RMB can support clients on both sides of the corridor to enable seamless end-to-end transactions.
“The Indian market reacted extremely positively with VBL's share price increasing in excess of 10% and reaching an all-time high on the day the transaction was announced. The transaction represents a significant investment and an important vote of confidence in South Africa by a large global player in the sector,” says Gareth Armstrong, Corporate Finance Executive at RMB.
Distributed by APO Group on behalf of Rand Merchant Bank.
With a mission to be a sustainable leader in the development and production of high-quality healthier alternative oils, Southern Oil (SOILL) continues to champion the benefits of canola oil as the go-to choice for consumers. “We are proud to promote canola oil as a cooking oil alternative for the health-conscious consumer” says Morne Botes, Commercial …
Patel welcomes VW's R4 billion investment in SA
Volkswagen South Africa’s (VWSA) investment of R4 billion in their assembly plant in Kariega, in the Eastern Cape, has been welcomed by Trade, Industry and Competition Minister, Ebrahim Patel.
The investment will introduce a new SUV model built on the Polo platform.
The move also positions the facility as the sole manufacturer of the Polo brand globally and the new SUV model will be exported to global markets.
Patel addressed the public announcement on Wednesday held at VWSA’s facility in Kariega.
He said the investment was a testament to the country’s industrial policy, and it will not only strengthen the assembly plant but also secure the livelihoods of approximately 3 500 people who are directly employed by VWSA.
“Moreover, this investment has rippled through this part of the Eastern Cape, fostering an ecosystem of prosperity and industrialisation, supporting an estimated 50 000 indirect jobs and livelihoods.”
In the last five years, the department said government has undertaken significant work to bolster automotive production in South Africa.
Patel highlighted 10 actions, which have been taken in the sixth administration to support the industry:
• New Automotive Masterplan crafted together with the industry was implemented in July 2021, setting the policy framework for the next decade.
• The African Continental Free Trade Agreement (AfCFTA) has concluded modalities, including rules of origin for a first list of auto products, opening up a vast market.
• A free-trade agreement with the United Kingdom after Brexit was concluded and implemented, which enabled South Africa to retain access to preferential terms in the United Kingdom market.
• The establishment of the R6 billion Auto Industry Transformation Fund, which VWSA and other Original Equipment Manufacturers (OEMs) contribute to bringing Black component manufacturers into the supply chain.
• A major agreement with tier 1 auto component manufacturers has been concluded that will ensure greater opportunities for Black manufacturers in tier 2 or tier 3 levels.
• R50 billion in investment commitments in the auto sector have been secured.
• A landmark agreement with Stellantis for the construction of a new R3 billion plant in the Coega Special Economic Zone has been reached.
• Semi-knocked down (SKD) production by BAIC, also in the Coega Special Economic Zone, has commenced as a first phase toward more value-additive complete knocked down (CKD) production.
• A new Tshwane Automotive Special Economic Zone has been established, with 10 factories for Ford suppliers already built by March 2024, employing 3 300 workers.
• The Electric Vehicle Policy was finalised by the Department of Trade, Industry and Competition (dtic), and a new incentive package to assist the transition was announced by the Minister of Finance in the 2024 Budget.
According to the department, the automotive industry plays a crucial role in our economy, contributing significantly to gross domestic product (GDP) and employment.
The manufacturing component of the auto industry contributed 2.9% of South Africa’s GDP in 2022.
With over 115 000 direct employees and an additional 240 000 indirect jobs, the department said the auto industry remains a cornerstone of South Africa's manufacturing sector.
“Despite global challenges such as the COVID-19 pandemic and supply chain disruptions, South Africa’s automotive industry has continued to grow.”
Over the past five calendar years, South African OEMs produced 2.7 million vehicles and exported 1.7 million vehicles.
In 2023, South Africa exported a record 399 594 vehicles, a milestone for its industrial resilience and global competitiveness.
Notably, last year, South Africa exported its six millionth vehicle since the start of the democratic era. – SAnews.gov.za
Gabisile
Thu, 04/18/2024 - 11:14