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South Africa’s progress in 2024 sets the stage for hope in the New Year

Location: News

South Africa’s progress in 2024 sets the stage for hope in the New Year

As the year draws to a close, President Cyril Ramaphosa has reflected on South Africa’s achievements and challenges, expressing optimism for the year ahead in his weekly newsletter.

This year marked three decades since the advent of democracy, with the country commemorating its progress in building a constitutional order rooted in freedom, equality and human rights. 

Among the highlights was South Africa’s seventh successful General Election, with 70 political parties contesting. The Electoral Commission was lauded for its efficient management of the polls, reflecting a maturing democracy.

“Our democracy has evolved and matured. We have a Government of National Unity comprising 10 political parties from across the political spectrum. They have agreed on three strategic priorities for this administration. The first strategic priority is to grow our economy and create jobs.

“The structural reforms initiated under the sixth administration are continuing to create conditions for our economy to grow and to create jobs,” the President said. 

Economic growth and energy stability

Efforts to grow the economy and create jobs have borne fruit, with over 250 days of uninterrupted power supply this year. This achievement was credited to improved maintenance by Eskom, increased renewable energy capacity, and widespread adoption of solar solutions. 

“The work of the National Energy Crisis Committee continues. It is working to get more power onto the grid, expand our electricity infrastructure, diversify the market for the benefit of consumers, and lay the groundwork for an energy-secure future,” the President said.

President Ramaphosa said the recovery of commuter and freight rail services also marked a turning point. Passenger rail saw a surge in usage, with 31 of 40 corridors operational and passenger numbers climbing to 40 million from 15 million in the previous year.

Ports in Durban and Cape Town also experienced operational improvements, further boosting economic activity.

“We are making progress in the recovery of freight rail and dealing with longstanding operational challenges in our ports. We are seeing improvements at the container terminals in Durban and Cape Town, as well as with infrastructure upgrades,” the President said. 

Tackling poverty and the cost of living

Turning to poverty and the cost of living, the President noted a significant drop in consumer inflation, bringing down prices of essential goods, including food and fuel.

While unemployment levels remain extremely high, the President said more South Africans are finding jobs.

Government continued to sustain a substantial social wage, dedicating 60% of the national budget to social grants, subsidized housing, free basic services, and no-fee schools.

“These are the measures that reduce poverty and directly improve people’s lives. In addition to the provision of grants to vulnerable groups and unemployed people, this social wage includes subsidised housing, free basic services, no-fee schools and school nutrition. Government has been able to sustain these measures, even as public finances are under severe pressure,” President Ramaphosa said. 

Strengthening State capacity

The President said the administration has worked to enhance government’s ability to deliver basic services, despite the challenges of poor governance and financial constraints in many municipalities.

“The third strategic priority of this administration is to strengthen the capacity of the State to deliver on its mandate. Our efforts to improve the capacity and capability of the state to deliver on basic services continue,” the President said. 

The President cited disruptions in the supply of electricity and clean water as a major problem in many municipalities. He added that many local councils are plagued by poor governance, limited capacity and severe financial constraints which affect service delivery. 

“These are the challenges we are grappling with. We have identified local government as a major focus in this administration. Through initiatives like the Presidential eThekwini Working Group, we are bringing all stakeholders together to solve local problems,” the President said. 

Challenges and Future Plans

While progress has been made, the President acknowledged persistent challenges.

Unemployment remains high, crime and violence are widespread, and service delivery disruptions are a major concern. However, he emphasised the importance of collaboration among government, business, labour, and civil society to address these issues.

“The progress we have made this past year and during the course of the previous administration shows that we can overcome the difficulties our country faces.

“As government, business, labour and civil society, we are able to achieve a great deal when work in unison to overcome our common challenges,” the President said. 

G20 Summit in 2025

Looking ahead, South Africa will host the G20 Summit in 2025, further positioning itself as a key player in addressing global challenges. 

The administration also plans to launch a National Dialogue to unite citizens in crafting a shared vision for the country.

“In the new year, we will embark on a National Dialogue that will draw together all South Africans in crafting a common vision for the country,” the President said. 

Concluding his message, the President expressed hope for 2025, vowing to build on the momentum of 2024. 

“Overcoming poverty and underdevelopment, creating more jobs, and addressing societal ills like gender-based violence, requires that we must all play our part, where we can.

"On many fronts, this year has been better than the last. We will build on these achievements in 2025. 

"Wherever you may be this festive season, I wish you well,” the President said. – SAnews.gov.za

DikelediM
Mon, 12/09/2024 - 11:24

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Read moreSouth Africa’s progress in 2024 sets the stage for hope in the New Year

Companies Plan to IT Security Budgets up to 9% in the Next Two Years

Location: Business
Kaspersky

Companies are planning to increase their investments in information security against the background of growing financial losses from cyber incidents. This trend was revealed in the recent Kaspersky's (www.Kaspersky.co.za) IT Security Economics report.

Kaspersky IT Security Economics is an annual report that unpicks the changes in budgets, breaches and business challenges affecting IT Security decision makers. It is based on interviews with IT and IT security professionals working in organisations of various sizes and industries. The survey was conducted across 27 countries in Europe, the Asia-Pacific region, the Middle East, Turkiye and Africa (META) region, Latin and North America.

According to the research, companies plan to increase their IT security budgets by up to 9%. The median cybersecurity budgets for large enterprises were $5.7M with $41.8M allocated for IT generally, while SMBs invested $0.2M in IT security from a median IT budget of $1.6M.

Possible reasons for the increased investment can be found in the analysis of financial losses from cyber incidents. Large enterprises experienced an average of 12 incidents this year, spending $6.2M to recover from them — 1.1 times higher than the budget allocated for IT security overall. Despite the greater resources and advanced security infrastructures, the sheer scale and complexity of large enterprise organisations make them more susceptible to costly breaches. While these enterprises are often better equipped to detect incidents quickly, the time required to fully respond and mitigate these threats can span for hours, underscoring the challenge of managing widespread, complex IT environments.

As for SMBs, these organisations experienced an average of 16 incidents this year, while spending $0.3M for remediation, which is 1.5 times higher than their overall IT Security budget. SMBs are the most disproportionately affected group in terms of budgetary impact. They often lack robust cybersecurity policies and procedures, which leaves them vulnerable to incidents involving employees, public cloud misconfigurations, and high-level permissions.

In the META region, organisations of all sizes reported to have experienced on average 13 incidents within a year. In South Africa, organisations of all sizes reported to have experienced on average 19 incidents within a year.

“This data illustrates the continuation of the current trend of increasing cybersecurity spending across all market segments. This growth is driven by at least three key factors. Firstly, and obviously, the constant growth in the complexity of cybersecurity threats forces companies to adopt more advanced solutions to enhance the detection of attack traces and automate responses. Secondly, increasing concerns from governments regarding digital sovereignty leads to the emergence of new regulations and regulatory requirements and, as a result, increased expenses. The third factor influencing the growth of cybersecurity budgets and costs is the constant increase in salary expectations for professionals in various cybersecurity fields,” comments Veniamin Levtsov, Vice President, Center of Corporate Business Expertise at Kaspersky.

To protect companies against a wide range of cyber threats, Kaspersky recommends:

  • Use all-encompassing solutions, such as those from the Kaspersky Next (https://apo-opa.co/3VwBRnf) product line, that provide real-time protection, threat visibility, advanced investigation and response capabilities for companies of any size and industry.
  • Adopt a managed security service such as Kaspersky Managed Detection and Response (https://apo-opa.co/49pxUXj) if companies lack qualified InfoSec professionals. It will provide the necessary expertise and give them the best possible advanced automated security services. Thanks to its analysis of corporate data gathered every day, in real time, 24/7, it can shield businesses against sophisticated cyberattacks.
  • Educate your employees. Dedicated training courses can help, such as those provided in the Kaspersky Automated Security Awareness (https://apo-opa.co/3VtJyuu) Platform.

To gain more insights about IT security costs and budgets in businesses visit the interactive IT Security Calculator (https://Calculator.Kaspersky.com).

To read the full report “IT Security Economics”, that is based on a survey conducted in Brazil, Chile, China, Egypt, France, Germany, India, Indonesia, Italy, Japan, Kazakhstan, Saudi Arabia, Malaysia, Mexico, Pakistan, Philippines, Russia, South Africa, South Korea, Singapore, Spain, Thailand, Turkey, Vietnam, UAE, UK and US, visit the website (https://apo-opa.co/3Zp3ik9).

Distributed by APO Group on behalf of Kaspersky.

For further information please contact:
Nicole Allman
INK&Co. (https://INKandCo.co.za)
nicole@inkandco.co.za

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About Kaspersky:
Kaspersky is a global cybersecurity and digital privacy company founded in 1997. With over a billion devices protected to date from emerging cyberthreats and targeted attacks, Kaspersky's deep threat intelligence and security expertise is constantly transforming into innovative solutions and services to protect businesses, critical infrastructure, governments and consumers around the globe. The company's comprehensive security portfolio includes leading endpoint protection, specialized security products and services, as well as Cyber Immune solutions to fight sophisticated and evolving digital threats. We help over 200,000 corporate clients protect what matters most to them. Learn more at www.Kaspersky.co.za.

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Read moreCompanies Plan to IT Security Budgets up to 9% in the Next Two Years

African Development Bank Accelerates Private Sector Support With Initial Disbursement of $1 Billion Loan to Transnet

Location: Business
African Development Bank Group (AfDB)

The African Development Bank (www.AfDB.org) has released the first tranche of its $1 billion loan to Transnet, the South African state-owned conglomerate managing the country's ports, railways and pipelines. This disbursement is the first in a series of four tranches planned for an unparalleled financing arrangement to support Transnet's business's recovery plan.  

Approved by the Bank's Board of Directors five months ago, this funding underpins a recovery plan to address pressing operational challenges of the company, while bolstering South Africa's critical infrastructure. 

The funding will allow Transnet to commence the first phase of its ambitious ZAR 152.8 billion (USD 8.1 billion) five-year investment plan to upgrade existing infrastructure while enhancing key logistic chain segments.  

“This swift disbursement shows the Bank's commitment to the private sector in Africa, which is essential for supporting sustainable economic growth,” said Solomon Quaynor, Vice President for Private Sector, Infrastructure and Industrialization at the African Development Bank Group, speaking on the sidelines of the Africa Investment Forum 2024 Market Days in Rabat, Morocco.  

The efficiency of the disbursement reflects Transnet's fulfilment of the Bank's rigorous requirements for governance, the environmental stewardship, and social responsibility. Following the September 2023 signing of the loan agreement between Transnet and the African Development Bank in Johannesburg, the Bank committed to supporting Transnet's recovery plan with targeted financing. 

Transnet has faced significant operational hurdles for several years, including under-investment, equipment theft, vandalism, flooding and the long-lasting impacts of  the Covid-19 pandemic. In response, the company has restructured and embarked on internal reforms to improve efficiency and management while committing to decarbonization and carbon footprint reduction initiatives. 

The African Development Bank commended the South African government's dedication to restructuring Transnet and enhancing governance in the transport sector. Transnet has notably improved governance practices, particularly in tendering procedures and financial management, as part of its broader reform efforts. 

With over 30,000 kilometres of railway infrastructure -- the largest in any emerging economy -- Transnet plays a vital role in regional. Its railway network links South Africa's ports with key regional partners, including Botswana, Zambia, Zimbabwe and the Democratic Republic of Congo, and supports operations at Durban, the fourth-largest container terminal in the southern hemisphere. 

The African Development Bank's support for Transnet is therefore crucial for improving South Africa's competitiveness and strengthening the continent's economic integration, while responding to the challenges of the logistics sector, which is vital for Africa's development.  

With this disbursement, the African Development Bank has once again demonstrated its agility in the financial support it provides to the African private sector. 

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

Media Contact: 
Romaric Ollo Hien 
Communication and External Relations Department
media@afdb.org 

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Read moreAfrican Development Bank Accelerates Private Sector Support With Initial Disbursement of $1 Billion Loan to Transnet

Work underway to resolve SA’s challenges

Location: News

Work underway to resolve SA’s challenges

Collaboration between businesses and government is essential to overcoming the country’s challenges and ensuring a sustainable future for South Africa, Deputy President Paul Mashatile has said.

He told Members of Parliament (MPs) that economic growth remains government’s number one priority. 

“We have always appreciated the role of the private sector in the growth and development of our economy,” he said on Thursday.  

In attracting investments, and stimulating economic growth, the Deputy President stated that the previous administration adopted reforms aimed at improving energy and logistical constraints reducing barriers to private sector investment. 

Meanwhile, he said the sixth administration worked hard to address structural rigidities in the labour market as well as to tackle crime and corruption. 

The Deputy President was responding to questions in the National Council of Provinces (NCOP) on a range of national and international issues of public importance. 

He also touched on Phase 2 of the Business and Government Partnership launched by President Cyril Ramaphosa in October this year. 
READ | Second phase of Government - Business Partnership launched

This partnership is aimed at supporting government efforts to accelerate the country’s path towards sustainable inclusive economic growth and job creation, through increased investment.

Since then, about 140 CEOs from leading South African businesses pledged to work with government in increasing gross domestic product (GDP) growth, creating jobs, and promoting investor confidence. 

“The collaboration between businesses and the government is essential in overcoming the current crisis and ensuring a sustainable future for South Africa.” 

He stated that Phase 2 will also strengthen the acceleration of the market reform needed for long-term energy security and infrastructure development for inclusive economic growth. 

Over the medium term, the Deputy President said the State was transforming its approach to public sector infrastructure by creating the conditions to attract private sector participation.

“Private sector resources were mobilised to address the energy crisis. As we are all aware we have not had an uninterrupted power supply since 26 March 2024, which is over 250 days. Together with the private sector, we are now focusing on augmenting public sector capability and to provide new channels for financing.” 

Meanwhile, he said the focus has now shifted to addressing water and infrastructure-related challenges, including freight and logistics. 

“We will continue to mobilise private sector resources to augment the capability of the public sector to fast track the provision of sustainable energy and critical infrastructure to support inclusive economic growth.”  

Intergovernmental debt

On the question of the growing intergovernmental debt, the Deputy President admitted it was a challenge that hampers government efforts to deliver services, particularly at local government level.   

He announced that the National Treasury will also consider “top slicing” budgets of departments that owe municipalities to settle the debt. 

He assured MPs that the State was implementing several measures to address debt. 

According to the Deputy President, Accounting Officers are required to settle all contractual obligations and pay all monies owed, including inter-governmental claims, within 30 days of the submission of an invoice, or on a specific period agreed upon with creditors or suppliers. 

In addition, he said the Treasury is enforcing the implementation of section 216 (1) of the Constitution by withholding the Local Government Equitable Share and other conditional grants for persistent municipal failure, including non-payment of bulk suppliers and third parties. 

The National Government Debt Forum, chaired by the Department of Public Works and Infrastructure, is aimed at resolving the current challenges of non-payment of municipal accounts by organs of State. 

The forum deals with challenges such as those relating to property ownership, incorrect tariff charges, unjustified huge interest charges as well as budget constraints. 

“We will continue to implement these and other measures to eliminate the challenge of intergovernmental debt, and to improve the delivery of services to our communities,” he added. – SAnews.gov.za
 

Gabisile
Fri, 12/06/2024 - 10:58

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Read moreWork underway to resolve SA’s challenges

Cabinet approves policy for women in sport

Location: News

Cabinet approves policy for women in sport

Cabinet has approved the National Policy on Women in Sport Policy Framework for implementation.

The policy addresses multiple areas of gender disparity, including participation, leadership, governance and visibility.

Briefing the media on the outcomes of Cabinet meeting held on 4 December 2024, Minister in The Presidency, Khumbudzo Ntshavheni said the policy aims to promote increased active participation of women in sport and in leadership roles.

“The policy recognises that increased participation of women in sport and in leadership positions will drastically reduce and ultimately contribute to eradicating gender inequality and various forms of discrimination against women. 

“It also promotes equity by ensuring that women receive respect and recognition on the professional front, including equal remuneration as their male counterparts,” Ntshavheni said on Thursday.

The policy outlines a set of measures that will promote and support women in sport and ensure that programmes are in place to address gender disparities in sporting codes and structures.  

It also addresses barriers to entry by women in sport, including lack of funding, sponsorship, and inadequate remuneration.

READ | Deputy Minister prioritises transformation in sport

Strategy for Reducing Food Losses and Waste

Cabinet also approved the Strategy for Reducing Food Losses and Waste for implementation.

Ntshavheni noted that the strategy aims to minimise food loss and waste along the food supply chain, reducing undesirable food wastage through applying tools and technologies, improving food security and mitigating negative environmental impacts.

This is aligned to the government interventions to reduce high cost of living.

“The strategy provides regulatory measures and interventions, norms and standards, appropriate financial support and incentives to promote reduction in food loss and waste, amongst others.

“This strategy will enable the keep on edible and food with value to be kept as long as possible in the value chain and will enable implementation of funding incentives on reducing food waste and food losses for all South Africans,” Ntshavheni said.

READ | SA working to promote inclusive growth, deal with high cost of living

Tourism Route Development Plan  

Cabinet has further approved the Tourism Route Development Plan - which intends to use tourism as a vehicle to drive inclusive growth, job creation and poverty reduction - for implementation.

This follows the approval of the Tourism Sector Master Plan in October 2023 to create opportunities for inclusive participation of all sectors of society, including women, youth and people with disabilities.

Ntshavheni explained that the Tourism Route Development Plan is anchored on collaborative public-private sector partnerships and aims to support route development and sustenance.

“The plan will also strengthen the position of South Africa’s domestic airline services. Priority route market retention will focus on Asia (China, India and Japan), the African continent and domestic connectivity.

“Furthermore, the plan will be implemented to maximise the impact of South Africa as a domestic and international tourist destination. It seeks to drive the achievement of the national tourism minimum arrival target of 15 million arrivals by 2030 with support of routes from 25 prioritised markets,” the Minister explained. – SAnews.gov.za

GabiK
Thu, 12/05/2024 - 14:36

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Read moreCabinet approves policy for women in sport

Africa: Statement on Continental Secretariat for Lusaka Agenda Implementation Launch

Location: News

Africa Centres for Disease Control and Prevention (Africa CDC)
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The February 2024 Decision of the African Union Assembly on the report of the President of the Republic of South Africa, H.E. Matamela Cyril Ramaphosa, the African Union Champion for Pandemic Prevention, Preparedness and Response (PPPR), to “support the establishment of an accountability mechanism within the AU architecture to ensure the effective implementation of the Lusaka Agenda in Africa” is a timely and welcome development.

The Lusaka Agenda, launched on Universal Health Coverage (UHC) Day, December 12, 2023, provides a framework for coordinated action towards a unified vision of sustainably and domestically financed health systems and universal access to healthcare, ensuring that no one is left behind.

H.E. Ramaphosa has been instrumental in advancing the Lusaka Agenda Accountability Framework. Through the PPPR Commission, he championed the establishment of an accountability mechanism for the Lusaka Agenda, which leverages platforms such as the Africa Leadership Meeting (ALM). He secured the endorsement of the framework by his peers, emphasizing Africa's commitment to health equity, strengthened primary health care, and accountability for sustainable progress.

The Lusaka Agenda's transformative potential lies in fostering African-led solutions, building stronger primary healthcare systems, and ensuring equitable health outcomes while reducing dependency on fragmented external funding. It represents a unified vision for Africa to lead the future of its health systems with sustainable financing and strategic coherence across global and local health initiatives. It aims to empower African nations to achieve universal health coverage (UHC) and resilience against public health challenges, including those exacerbated by the COVID-19 pandemic.

The effective implementation of the Lusaka Agenda will achieve five strategic shifts, notably for the long-term evolution of the Global Health Initiatives (GHIs):

  1. Make a stronger contribution to primary health care (PHC) by effectively strengthening systems for health.
  2. Play a catalytic role in fostering sustainable, domestically financed health services and public health functions.
  3. Strengthen joint approaches for achieving equity in health outcomes.
  4. Achieve strategic and operational coherence.
  5. Coordinate approaches to products, research and development (R&D), and regional manufacturing to address market and policy failures in global health.

The five strategic shifts will advance resilient primary health care (PHC) as the cornerstone of preparedness, prevention, response, and control of public health threats across the African continent.

“The Lusaka Agenda is a political commitment endorsed by African Heads of State to achieve health equity and strengthen primary health care across the continent. I call on all stakeholders to support Africa CDC's leadership and fully commit to the accountability framework, ensuring transparency and measurable progress toward a healthier, more resilient Africa,” – H.E. President Cyril Ramaphosa, Republic of South Africa.

“The Lusaka Agenda Secretariat, housed at Africa CDC, will work with partners to develop the Lusaka Agenda Monitoring and Accountability Framework and a continental scorecard for timely monitoring and reporting to AU Heads of State and Government. Through the Secretariat, AU Member States will more effectively and efficiently leverage GHIs to complement domestic financing, maximizing health impacts in support of country-led priorities,”- H.E. Dr. Jean Kaseya, Africa CDC Director General.

The Lusaka Agenda Secretariat hosted at Africa CDC aligns with the February 2024 Assembly Decision of the African Union Heads of State and Government (Dec.880(XXXVII) and further solidifies Africa CDC and AU Commission leadership in steering the successful implementation of the Lusaka Agenda on the African continent. The establishment of the Secretariat is a pivotal initiative to oversee and coordinate the monitoring and accountability mechanisms essential for advancing Africa's health transformation.

The Secretariat provides a platform for Africa CDC to work closely with partners, including WHO and the wider UN system, the World Bank, bilateral donors, regional entities, civil society, and community-led organizations.

The Secretariat will coordinate, monitor the implementation, and periodically report to the AU Heads of State and Governments on the progress of implementation. It will foster learning and knowledge-sharing across policy and program areas, ensuring no country is left behind during the Lusaka Agenda's implementation on the African continent.

Distributed by APO Group on behalf of Africa Centres for Disease Control and Prevention (Africa CDC).

Read moreAfrica: Statement on Continental Secretariat for Lusaka Agenda Implementation Launch

Government resolute to protect the economy amid tax pressures

Location: News

Government resolute to protect the economy amid tax pressures

As South Africa faces rising tax pressures and energy costs, Deputy Minister of Electricity and Energy, Samantha Graham-Maré has reassured businesses and citizens that the government is working hard to protect jobs and drive economic growth in the face of these new challenges.

“With coal still powering nearly 80% of our electricity, the upcoming Scope 2 tax on indirect emissions and the European Union’s Carbon Border Adjustment Mechanism (CBAM) threaten to raise costs for businesses and put R52.4 billion in exports at risk,” the Ministry of Electricity and Energy said on Monday.

By 2034, South African companies could face up to a 60% increase in electricity costs due to these new carbon taxes, with rates expected to jump from R190 to R462 per tonne by 2030. 

As current tax allowances are gradually phased out, some industries may see an overwhelming 340% increase in carbon tax payments. However, there is a path forward to secure jobs and promote growth.

The Deputy Minister emphasised that now is the time to invest in cleaner, cost-effective energy sources to build a more resilient, sustainable economy for all South Africans.

“Our priority is protecting jobs and strengthening our economy. By embracing renewable energy, we’re not only reducing emissions but creating new opportunities for growth, securing our industries’ future, and keeping South African businesses competitive in a global market that values sustainability. Transitioning to cleaner energy is essential for maintaining profitability and creating a brighter future,” Graham- Maré said.

The Ministry has assured business that government stands ready to work with it to unlock the potential of renewables, helping reduce dependence on coal, stabilise energy prices, and secure a prosperous future for South African workers and families.

“Together, we can protect jobs, build resilience, and pave the way for sustainable economic growth. Energy efficiency means job creation,” the Ministry said. -SAnews.gov.za

nosihle
Tue, 12/03/2024 - 09:28

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Read moreGovernment resolute to protect the economy amid tax pressures

Verdant IMAP wins Best Advisory Firm: Private Equity at the Africa Global Funds Awards

Location: News
Verdant Capital

Verdant IMAP (www.Verdant-CAP.com) is delighted to announce its recognition as Best Advisory Firm: Private Equity at the prestigious Africa Global Funds Awards. The accolade was presented during the Gala Awards Dinner on Thursday, November 14, 2024, at the renowned Mount Nelson Hotel in Cape Town, bringing together leading firms in African private equity and asset management.

This award highlights Verdant's significant contributions to the private equity M&Aecosystem across Africa. Over the past year, Verdant's transactions involving private equity have included the sale of the Onix data centre business in Ghana on behalf of Africa Infrastructure Investment Managers, two exits for London-based Africa private equity firm 8Miles (Awash Wines and Biyinzika Poultry Industries Limited in Ethiopia and Uganda respectively), and advising ACA and IFC-backed WIOCC on its JV with Texaf to build the market leading data centre in Kinshasa, DR of Congo.  Verdant is currently at advanced stages with respect to six transactions for or with private equity funds, in South Africa, East Africa and West Africa, in sectors including technology, FMCG and manufacturing.  

The recognition reinforces Verdant's commitment to delivering innovative, tailored advisory services and unlocking value for its private equity clients. The firm also advised on notable cross-border transactions, leveraging its position as the IMAP member firm for its region. IMAP, the world's leading global M&A partnership was established in 1973, has member firms in 50 countries, in total over 600 M&A bankers and completes more than 200 M&A transactions every year.  The IMAP global partnership helps Verdant to bridge African and international markets effectively.

The Africa Global Funds Awards honour excellence in Africa's asset management and private equity industries. Verdant's recognition as Best Advisory Firm: Private Equity is a testament to its unwavering dedication to driving impactful solutions in challenging and dynamic markets.

With this award, Verdant strengthens its reputation as a trusted partner for private equity and other client groups navigating Africa's evolving economic landscape. As the firm continues to grow and innovate, it reaffirms its mission to deliver world-class advisory solutions that create lasting value for its clients and the continent. 

Distributed by APO Group on behalf of Verdant Capital.

Media enquiries: 
Orient Mahonisi,
orient.mahonisi@verdant-cap.com

About Verdant IMAP:
Verdant IMAP is a leading investment bank operating on a pan-African focus, specialising in M&A and in private capital markets.  Verdant IMAP is the IMAP partner firm for its region.  IMAP with partner firms in nearly 50 countries, with over 600 M&A professionals, completing over 200 M&A transactions per year, reinforces Verdant IMAP's capability to deliver innovative financial solutions to clients across Africa and around the World. www.Verdant-CAP.com 

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Government pledges to complete Vredefort Dome Visitor Interpretation Centre project

Location: News

Government pledges to complete Vredefort Dome Visitor Interpretation Centre project

The Department of Tourism will endeavour to facilitate an amicable resolution that will lead to the completion of the Vredefort Dome Visitor Interpretation Centre.

The Vredefort Dome Visitor Interpretation Centre in the Free State is an initiative of the department under its Working for Tourism programme that supports greater destination competitiveness, transformation, and accelerated tourism and enterprise growth. 

Over the years, the construction of the Vredefort Dome Visitor Interpretation Centre has encountered a myriad of challenges that have impacted on the completion of the facility.

“The Vredefort Dome Visitor Interpretation Centre is a critical educational and geological facility that will bring socio-economic benefits for the country and more importantly, to the community members of the Nqwathe Local Municipality and the Fezile Dabi District Municipality,” Deputy Minister of Tourism Maggie Sotyu said on Friday.

Sotyu conducted an oversight visit at the Vredefort Dome UNESCO World Heritage Site in the Free State to assess the progress of the infrastructure developments at the Vredefort Dome Visitor Interpretation Centre.

In January 2024, the department, through the Development Bank of Southern Africa (DBSA), appointed a contractor to refurbish and complete the exhibition centre; kiosk and ablutions facilities; the craft market; amphitheater; guard house; parking area; perimeter fence; ramps and walkways; landscaping, and the installation of signage. The refurbishments are 55% complete. 

“I have listened to the concerns raised by the community that relate to the construction of the Visitor Interpretation Centre. The challenges surrounding this facility have, over the years, robbed the sector and the community of an opportunity to boost the tourism and revive the local economy.

“As a department, we will endeavour to facilitate an amicable resolution that will lead to the completion of the Vredefort Dome Visitor Interpretation Centre. However, this resolution can be made possible if we all work together, realising the long-term future benefits of the successful completion of the Visitor Interpretation Centre,” Sotyu said.

The tourism community engagement was supported by the executives of the Free State Department of Economic Small Business Development, Tourism and Environmental Affairs.

The event included discussions with the local community, information sharing on various programmes of the department, and exhibitions by the various spheres of government and sector stakeholders. -SAnews.gov.za

nosihle
Mon, 12/02/2024 - 09:42

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Read moreGovernment pledges to complete Vredefort Dome Visitor Interpretation Centre project

How Mukuru Is Reshaping Aid Disbursements, Payroll and Bulk Commercial Payments in Malawi and Zimbabwe

Location: News
Mukuru

Mukuru (www.Mukuru.com) is a leading next-generation financial services platform that offers affordable and reliable financial services to a customer base of over 16-million people across Africa, Asia and Europe. The company, dedicated to continuously building a strong, reliable and resilient financial payments infrastructure to allow its customers to access new physical and digital services that add value, is also transforming the landscape of commercial and aid payments through its Enterprise Payments Platform (EPP). 

EPP is a secure, efficient, safe and cost-effective solution for collections and bulk payments and is built off the successful use case of Mukuru's widely known remittance services. 

This case study explores how Mukuru's EPP is addressing the challenges associated with aid disbursements, payroll, and commercial transactions in underserved communities, including limited financial infrastructure, high transaction costs and issues regarding security, speed and regulations. 

It examines how EPP is revolutionising bulk payments in these critical sectors, with a focus on Malawi and Zimbabwe, by tackling the difficulties businesses and aid organisations encounter when serving remote areas. 

The challenge 

Tererai Mare, Enterprise Market Development Manager at Mukuru, explains that before EPP, businesses and nonprofits had to rely on traditional methods such as mobile money and banks to facilitate bulk payments. “These methods presented limitations — high transaction and encashment fees, delays, and limited reach in rural areas,” Mare says. “These issues hindered the efficient distribution of aid and management of payroll, especially in vulnerable communities.” 

Aid organisations faced significant hurdles in making bulk payments, while remote communities had limited access to affordable and convenient financial services. This created delays in aid reaching those in need and added financial pressure on businesses. 

The solution 

EPP was built on Mukuru's extensive person-to-person physical and digital payment infrastructure across Africa. The platform, known for its reach and liquidity, has many benefits, explains Mare. 

These include: 

  • Instant payouts: Funds reach beneficiaries instantly through cash collection points or digital wallets. 
  • Traceability: The platform offers full transaction tracking, which enhances transparency. This is vital for aid agencies for financial reporting to secure ongoing funding. 
  • Competitive fees: Lower costs benefit both businesses and nonprofits. 
  • Extensive network: Mukuru's branches, booths and mobile disbursement teams, alongside a rich network of partner locations, provide exceptional reach across southern and eastern Africa. 
  • Security: The best technology and processes ensure secure transactions. 
  • Flexibility: EPP caters to aid, commercial, and social grant distribution needs. 

Aid Agency Applications: 

Malawi 

Chiyembekezo Ken Ndala, Enterprise Sales Manager for Malawi at Mukuru, shares that the company partnered with CADECOM National Office for emergency flood relief in the aftermath of a recent cyclone. “CADECOM used the Mukuru platform to reach 4,520 households across several underserved areas.,” Ndala says. The timely distribution of funds allowed families to recover quickly and have their basic needs met. 

Mukuru also partners with Yamba Malawi, which provides monthly stipends to teenage mothers. “Yamba Malawi supports teen mothers, each receiving $20 per month for 12 months, with an additional $100 as seed capital after six months. This funding helps them care for their children and start small businesses to break the cycle of poverty,” Ndala explains. As an ongoing project, Mukuru has disbursed over $100,000 (MK183,600,000) to these beneficiaries. 

Zimbabwe 

Michael Scott, Group Head of Commercial at Mukuru, says that Mukuru has built extensive partnerships with United Nations agencies, including UNICEF, the International Organisation for Migration (IOM), and the World Food Programme (WFP). 

“Mukuru was awarded a contract by WFP to distribute monthly cash grants to refugees at the Tongogara Refugee Camp. The EPP platform enables efficient delivery and end-to-end traceability of essential emergency funds to this vulnerable community” Scott explains. 

Scott explains that Mukuru has been awarded prestigious Long-Term Agreements by both UNICEF and the International Organisation for Migration (IOM), underscoring its capability and reliability in delivering essential financial services across Africa. Under these agreements, Mukuru has facilitated payments to beneficiaries under emergency social cash transfer programming in Zimbabwe, alongside the provision of payroll services and payments to vendors and workshop participants. 

International NGOs, like Action Contre la Faim, have partnered with Mukuru to deliver cash transfers to remote households via Mukuru's mobile disbursement service. Mukuru's mobile teams schedule trips to these hard-to-reach areas and provide regular access to financial services, supporting a base level of financial inclusion and social upliftment otherwise not possible. 

Payroll and Commercial Applications: 

Mare explains that Mukuru also serves the varying needs of businesses needing to make payments to their employees, customers or smaller suppliers, who may not have bank accounts. “Many workers earn low salaries, making bank accounts unaffordable due to high transaction and maintenance fees. The EPP platform helps these workers receive payments efficiently, without encashment or ongoing account fee, addressing a major financial inclusion gap.” 

On the commercial side, Mukuru partners with the likes of Cottco and Premier Tobacco Auction Floors, heavyweights in Zimbabwe's cotton and tobacco industries, to facilitate payments to small-scale farmers. “These farmers often don't have bank accounts and come from far and wide to sell or auction their goods. Mukuru's EPP ensures they receive payments securely and swiftly. A Mukuru cash voucher is as trusted as the USD cash for which it can be exchanged, but safer to travel with on long journeys to and from the auction floors,” Mare adds. 

Conclusion 

Mukuru's EPP platform has redefined bulk payments and aid distribution for organisations struggling with traditional methods. Whether payroll or commercial settlement for businesses, or emergency aid for vulnerable communities, Mukuru offers efficiency, transparency, and security. 

With its vast network and proven ability to reach even the most remote areas, Mukuru continues to drive financial inclusion while streamlining bulk payments, reducing transaction costs, improving traceability and accountability, and minimising delays — critical when delivering aid. 

Distributed by APO Group on behalf of Mukuru.

Notes to Editor: 
Mukuru is a leading next generation financial services platform in Southern Africa that offers affordable and reliable financial services to a customer base of over 16 million across Africa, Asia and Europe. 

With over 100 million transactions to date, our core was built providing international money transfers and from this base, we've developed a set of services to address the broader financial needs of our customers. We now operate in over 60 countries and across over 500 remittance corridors. 

We are a business that puts the customer at the centre of everything we do, and for that reason, we serve clients across physical and digital channels, by various payment methods (cash, card, wallet) as well as a range of engagement platforms including WhatsApp, USSD, contact centre, App, website, agents and a branch and booth network. 

Mukuru has, for the fifth consecutive year, been listed as one of the top 100 Cross Border Payments businesses in the world in the 2024 FXC Intelligence Top 100 Cross-Border Payment Companies (https://apo-opa.co/41825jC), one of only six African companies to receive this accolade. 

In 2023, Mukuru officially ranked sixth on the LinkedIn Top Companies List in South Africa. 

Mukuru was celebrated for innovation and excellence at the 2023 Africa Tech Festival Awards, receiving the Fintech Innovation of the Year Award - an acknowledgment of the transformative power of financial technology in driving economic growth, financial inclusion, and digital transformation. 

In 2024, Mukuru won the IAMTN Payments Network Customers Experience Excellence Award for setting a high bar in exceptional customer satisfaction in cross-border payment services. Additionally, Mukuru was officially accredited as a 2024 Top Employer in South Africa by the Top Employers Institute. 

Further information can be found at https://www.Mukuru.com. 

Media Enquiries: 
Ammaarah Kootbodien: 
ammaarah@duomarketing.co.za 
(+27) 71 529 6449 

Kgomotso Hlakudi: 
kgomotso.hlakudi@mukuru.com 
(+27) 73 333 1672 

Mthokozisi Dube: 
mthokodube09@gmail.com 

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Take advantage of the African trade initiatives – President

Location: News

Take advantage of the African trade initiatives – President

President Cyril Ramaphosa has urged South African companies to take advantage of the African Continental Free Trade initiatives.

The President said this while delivering his annual address to the National Council of Provinces (NCOP) in Parliament, in Cape Town, on Thursday.

On Sunday, the 1st of December, South Africa will officially take over the Presidency of the G20 group of countries.

Together, these countries account for 75 percent of the world’s trade and 85 percent of global GDP.

“As the African Continental Free Trade Area gains momentum, our companies need to expand their presence in the huge continental market that is being formed.

“We will use our Presidency to bring the development priorities of the African continent and the Global South more firmly onto the agenda of the G20,” the President said. 

Through the G20 Presidency, South Africa will focus on the theme of "Solidarity, Equality and Sustainability". 

“We will call on the members of the G20 to stand in solidarity with those people who are facing hardship, poverty and conflict.

“We will work to tackle inequality through fair and consistent trade rules, improved debt relief mechanisms, and increased funding for climate actions and development,” the President said. 

The President emphasised that South Africa will aim to strengthen the commitment of all countries to the achievement of the Sustainable Development Goals by 2030.

“The G20 Presidency is also an opportunity to present to the world the great opportunities and experiences that South Africa has to offer,” he said. 

National Dialogue

Arising from the elections in May, President Ramaphosa said the Government of National Unity has been working with other formations in society towards the convening of a National Dialogue.

The National Dialogue will encourage the participation of all South Africans, as individuals and in their various formations.

The National Dialogue will need to address the persistence of poverty, unemployment and inequality. 

It will further seek to forge a new social compact on the action required by all members of society to achieve the vision of the National Development Plan. 

In closing, the President recalled the words of the country’s founding President Nelson Rolihlahla Mandela at the ‘Make Poverty History’ campaign in 2005.

He said: “Like slavery and apartheid, poverty is not natural. It is man-made and it can be overcome and eradicated by the actions of human beings.”

“There are moments when the depth of poverty in our country may lead us to despair. Poverty, unemployment and inequality are so pervasive and so persistent that we sometimes fear we may never overcome them. And yet, we overcame apartheid. We overcame slavery and colonialism.

“Through our collective actions, we will be able to end poverty in our country. Together, we will be able to achieve a more just, more equal society in which all South Africans share in the country’s wealth. A society in which no one is left behind,” the President said. – SAnews.gov.za

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South African Travellers to Take More Holidays in 2025

Location: News
Marriott International, Inc.

  • Research among over 2,000 South African travellers reveals that more than six in 10 plan to take more holidays in 2025.
  • Bravecations and heritage holidays emerge as key travel trends for 2025.
  • Savvy spenders on the rise as travellers seek the best value for their trips.
  • AI usage in holiday planning skyrockets, alongside growing sustainability considerations.

The travel market is set to grow in 2025, according to Marriott Bonvoy's 2025 Ticket to Travel research (http://apo-opa.co/3AQaXQo) (www.Marriott.com). The study, conducted amongst 21,374 adults in 10 markets across Europe, Africa, and the Middle East (EMEA) and more than 2,000 travellers in South Africa, reveals that more than 60% of South Africans plan to take more holidays next year compared to 2024, with 18% maintaining their current travel frequency.

Surveyed South Africans are planning an average of 2.7 domestic holidays, two short-haul holidays (four-hour flight or less), and 1.8 long-haul holidays in 2025. This totals 6.5 holidays or trips, equating to more than one every two months. Among those planning holidays, the top travel destinations are South Africa (27%), USA (11%), Mozambique (10%), France (10%), and Mauritius (10%).

‘Bravecations' and ‘heritage holidays' arise as emerging trends

The research highlights several emerging travel trends. One notable trend is ‘bravecations,' where travellers are more adventurous on holiday, trying activities they wouldn't normally attempt at home. An impressive 85% of South African travellers say they are braver on holiday, the highest among all markets surveyed. This trend is particularly strong among younger travellers, with 87% of 18–24-year-olds and 91% of 25–34-year-olds expressing a willingness to try new and exciting things. Popular activities include climbing high structures (56%), participating in high-octane activities like zip-lining, skydiving or theme park rides (54%), and trying unusual foods (45%).

Another rising trend is ‘heritage holidays,' where travellers explore their family's heritage, history, or ancestry. Seventy-five percent of South Africans have taken or plan to take a heritage holiday soon. This trend is more prevalent among younger generations, with 77% of 18–24-year-olds and 88% of 25–34-year-olds having taken a heritage holiday or plan to, compared to just 42% of those aged 65 and above. Key motivations include the desire to understand where their family comes from and what their life was like (64%) and to see where their ancestors lived (53%).

Solidifying Trends

Sustainability and the use of AI in travel planning are set to become even more significant in 2025. Eight in ten travellers (80%) consider the environmental impact of their travel plans, higher than the EMEA average of 72%. Nearly eight in ten (79%) checked the sustainability of their accommodation on their last holiday, with 64% doing so before booking, far higher than the EMEA average of 30%.

The use of AI in travel planning is also growing rapidly. Nearly half (48%) of South African travellers have used AI to help plan or research a holiday, above the EMEA average of 41%. This trend is led by younger travellers, with 57% of 18–24-year-olds and 63% of 25–34-year-olds using AI in the past year, indicating its mainstream adoption among younger South Africans.

Travel Priorities for 2025

When it comes to choosing accommodation in 2025, the ‘brilliant basics' remain key priorities with cleanliness (97%), location (96%), and customer service (96%) being the most important factors.

South African travellers are family orientated, preferring to holiday with their family or partner's family and children (46%), above just their partner or spouse (36%), and friends (12%). Only five percent prefer to travel alone. Additionally, ‘spending time with friends and family' (63%) is the top priority for holidays, followed by ‘treating themselves' (54%). Over half (52%) say it is important they return feeling healthier than when they left, significantly higher than the EMEA average of 36%.

Savvy Spending

Despite planning more holidays, South Africans are keen on getting the best value for their money. The main factor that would encourage travellers to book a holiday is ‘getting a special price' (62%). Shoulder season breaks—taking vacations during the months surrounding peak season—are another popular way to make holidays more affordable. Seven in ten (70%) have or have considered doing this, with the main reason being to get better value (56%). More than half of South African travellers (46%) always consider exchange rates when planning holidays, but 14% say they ‘never usually do but will in 2025'.

Dorcas Dlamini Mbele, Area Commercial Director, Marriott International – Sub-Saharan Africa, says: “We're witnessing a profound shift towards valuing experiences over material possessions among South African travellers. Trends like bravecations and heritage holidays are at the forefront, reflecting a desire for meaningful and enriching journeys. The integration of AI in travel planning and a strong focus on sustainability further enhance this forward-thinking approach. It's an exciting era for the travel industry, and we're eager to support South Africans as they embark on new adventures and create lasting memories both locally and globally.”

Distributed by APO Group on behalf of Marriott International, Inc..

Note to Editors:
*Research conducted by Mortar amongst 21,374 adults in the UK, France, Spain, Italy, Germany, Kingdom of Saudi Arabia, UAE, Poland, South Africa, and Türkiye.

Click here (http://apo-opa.co/3AQaXQo) to download the report. 

For more information, please contact:
Birgit Deibele
Senior Director of Communications
Marriott International - Sub-Saharan Africa
Mobile: +27 (0)67 598 9162 
Email: Birgit.Deibele@marriott.com

About Marriott Bonvoy®:
Marriott Bonvoy, Marriott International's award-winning travel programme and marketplace, gives members access to transformative, eye-opening experiences around the corner and across the globe. Marriott Bonvoy's portfolio of 31 extraordinary brands offers renowned hospitality in the most memorable destinations in the world. Members can earn points for stays at hotels and resorts, including all-inclusive resorts and premium home rentals, as well as through everyday purchases with co-branded credit cards. Members can redeem their points for experiences including future stays, Marriott Bonvoy Moments™, or through partners for luxurious products from Marriott Bonvoy Boutiques®. With the Marriott Bonvoy app, members enjoy a level of personalisation and contactless experience that allows them to travel with peace of mind. To enrol for free or for more information about Marriott Bonvoy, visit MarriottBonvoy.com. To download the Marriott app, go here (http://apo-opa.co/417JjsA). Travelers can also connect with Marriott Bonvoy on Facebook (http://apo-opa.co/4149kcr), Twitter (http://apo-opa.co/49aQAda), Instagram (http://apo-opa.co/4149lx1) and TikTok (http://apo-opa.co/4149mkz).

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Deputy Minister Moraka Hosts the Sixth South Africa-Vietnam Partnership Forum

Location: News

Republic of South Africa: Department of International Relations and Cooperation
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The Deputy Minister of International Relations and Cooperation, Ms Thandi Moraka, will co-host the Sixth South Africa-Vietnam Partnership Forum with the Deputy Minister of Foreign Affairs of the Socialist Republic of Vietnam, Ms Nguyen Minh Hang, on Tuesday, 27 November 2024, in Pretoria.

It is expected that the Sixth Partnership Forum will reflect on the dynamically growing relations between South Africa and Vietnam. Key topics of discussion will include cooperation in trade, investment, agricultural market access, minerals, combating transnational crime and wildlife offences, as well as collaboration in higher education and training. This forum represents a continued commitment to fostering strong bilateral relations and exploring new avenues for mutual benefit and development.

This significant meeting follows the exchange of Official Visits in 2023 with Vice-President Vo Thi Anh Xuan of Vietnam visiting South Africa in September 2023, and Deputy President Paul Mashatile visiting Vietnam in December 2023. The visits marked thirty years of diplomatic relations between South Africa and Vietnam, aiming to reinvigorate and strengthen the ties of friendship and solidarity between the two nations.

Distributed by APO Group on behalf of Republic of South Africa: Department of International Relations and Cooperation.

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Connecting Stories With a Golden Thread at the Joburg Film Festival

Location: News
MultiChoice Group

The Joburg Film Festival (JFF) in partnership with the MultiChoice Group (www.MultiChoice.com) is proud to announce the theme for the highly anticipated seventh edition of the festival - ‘The Golden Thread – Connected Through Stories'. Set to take place from 11 – 16 March 2025, the festival will explore the profound interconnectedness of our shared human experiences and the timeless value of storytelling.

Guided by the festival's tagline, ‘Our Stories. Our Gold', JFF continues to embrace Joburg's identity as the “City of Gold”, with stories serving as the most precious treasures that illuminate our lives and reflect the collective wisdom of our diverse global communities.

Audiences are invited to explore the essence of connection as we celebrate ‘The Golden Thread'—an elegant reminder of the ties that bind us all, a recurring symbol that represents universal themes, emotions and truths found within the world's most compelling stories.

"We are pleased to present ‘The Golden Thread' as our theme for the next edition of the festival,” says JFF Founder Tim Mangwedi. “It represents the unbreakable link that storytelling forms between individuals, communities and cultures. Through our carefully curated selection of films, we aim to show how stories, much like threads, interlace to create a larger tapestry of shared human experience. This is a celebration of connectivity, of learning from one another, and of recognising the meaningful impact our stories can have on the world.”

The seventh edition will once again bring together filmmakers, industry professionals and audiences from across the globe to share their experiences and forge connections through the universal language of cinema. JFF remains committed to promoting diversity, inclusivity and the celebration of universal human stories.

The festival will feature over 60 local, African and international curated titles, including fiction and documentary feature-length films and shorts), with several notable world premieres already confirmed. A snippet of what's in store for film, art and culture lovers.

Starting here at home with Sebata, a gripping dark South African detective thriller directed by Norman Maake and Timmy the Kid, a rural-urban comedy from director Gray Hofmeyr, that boasts a star-studded local cast.

The Man Died is a powerful adaptation of Nobel Laureate Wole Soyinka's harrowing prison memoir directed by Awam Amkpa. Set against the backdrop of Nigeria's civil war, the feature narrates a tale of resistance, courage and the indomitable human spirit.

Directed by Lebanese national Mahdi Fleifel, To a Land Unknown follows two Palestinian cousin friends as they strive to escape their desolate environment before it's too late and is shot across five countries.

Under the Volcano, directed by multi award-winning author Damian Kocur, depicts the story of a Ukrainian stranded in Tenerife, Spain, after a vacation, as they learn of Russia's invasion of Ukraine.

Haitian born, Paris based director Rauol Peck, chronicles the life of Enerst Cole's journey as the first black freelance photographer in apartheid SA. 

Ernest Cole: Lost and Found illustrates Cole's career, peerless artistry, political strength and a moving end.

"The seventh edition will once again bring together filmmakers, industry professionals, and audiences from across the globe to share their experiences and forge connections through the universal language of cinema. JFF remains committed to promoting diversity, inclusivity, and the celebration of universal human stories. The Joburg Film Festival is a celebration of the stories that bring us together, reflecting our shared humanity and the unique perspectives that make us who we are. At MultiChoice, we are proud to partner with the festival to spotlight the richness of African storytelling, highlighting its power to connect, inspire, and transform. Through ‘The Golden Thread – Connected Through Stories,' we embrace the idea that stories are our greatest treasures, weaving communities and cultures together with purpose and passion" says Nomsa Philiso, CEO of General Entertainment, MultiChoice.

In addition to the film programme, the festival will feature a robust industry programme in Joburg Xchange (JBX), incorporating JBX Business (market), JBX Talks and JBX Youth.

JBX BUSINESS

The JBX Market has experienced remarkable growth since 2022, with 165 participants currently registered making it the fastest-growing pillar of the film festival. The market attracts a diverse range of attendees, including exhibitors, producers, content creators, festivals, buyers and investors.

Early registration is still open for interested participants via the JFF website.

JBX TALKS - Made in Joburg for Africa and the World

JBX Talks at JFF 2025 celebrate the unifying power of storytelling and the thriving film industry in Johannesburg, which resonates across Africa and the globe. We position Johannesburg as a vibrant nexus of African narratives that transcend borders and captivate international audiences.

The three-day industry programme offers dynamic panels, in-conversations, masterclasses, workshops and networking events. Participants may expand their reach, refine their craft, and unlock new opportunities that elevate African film and television on the world stage. 

Festival badges which provide access to JBX go on sale with an Early Bird discounted price from Tuesday, 3rd December.

JBX YOUTH

JBX Youth is a new addition to the industry programme, running parallel to JBX Talks and JBX Business. It builds on the festival's anchor pillar focussed on the youth, the Youth & Audience Development Programme that is targeted at aspiring and up and coming content creators and filmmakers.

This 3-day programme will cover a range of topics and issues with the aim of developing, skill, empowering and nurturing the next generation of filmmakers to ensure the long-term growth, sustainability and viability of the industry.

YOUTH & AUDIENCE DEVELOPMENT PROGRAMME

This initiative focuses on emerging talent and aspiring filmmakers aged 18 – 35 with the aim of equipping them with the tools they need to succeed in the film and television industry.

The Programme will launch at the Kagiso Archives Centre in February 2025, with an intense two-day workshop, offering a range of activities including film screenings, director Q&As, skills-building practicals, filmmaker forums and mentorship opportunities within the community. The programme will conclude at JFF, with the JBX Youth initiative, providing youth filmmakers with further exposure to the tools and resources they need to advance their skills and careers.

The annual Young Voices Competition which forms part of the programme which celebrates the creative talents of young filmmakers in South Africa makes its return. Under the theme ‘The Power of Sports in Film', submissions officially open on Tuesday 3rd December and entries will be accepted until mid-February 2025.

We believe that sports is a universal language, allowing everyone to participate at any level, whether competitively or just for the love of the game. The winner will be announced at the Golden Thread Gala awards ceremony in March 2025, with their film later showcased at the JFF Film Society later in the year.

Mark your calendars for 11 – 16 March 2025 and be part of the 7th edition of the Joburg Film Festival. For more information on programming, tickets and how to get involved, please visit our website at www.JoburgFilmFestival.co.za or follow us on social media for the latest updates.

Together, we create, share, and celebrate the stories that connect us all...
 

Distributed by APO Group on behalf of MultiChoice Group.

Check out Joburg Film Festival the various online platforms:
Website: www.JoburgFilmFestival.co.za
Facebook: http://apo-opa.co/3CKyrqy
Twitter: http://apo-opa.co/4eXhJSo
Instagram: http://apo-opa.co/4i9aDNd
LinkedIn: http://apo-opa.co/4i7WXBZ
TikTok: http://apo-opa.co/4fLRr6v
The hashtags for the festival are #JoburgFilmFestival #JFF2025

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Low Credit Ratings for African Countries See High Borrowing Costs and Liquidity Challenges

Location: News

United Nations Economic Commission for Africa (ECA)
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Low credit ratings for African countries are leading to high borrowing costs and liquidity challenges. This is according to panellists at a plenary session on harnessing sovereign credit ratings power for Africa's economic transformation, organised by the Economic Commission for Africa at the 2024 African Economic Conference (AEC) in Gaborone, Botswana.

Zuzana Schwidrowski, Director of the ECA's Macroeconomic, Finance and Governance Division at the ECA said low credit ratings contribute to high borrowing costs and more broadly to a vicious spiral of liquidity challenges as well as debt accumulation for African countries. Despite the overall challenges in credit ratings, she emphasized some positive developments and turnarounds in selected credit ratingtrajectories of African sovereigns, such as Moody's upgrade of Tanzania or S&Ps positive outlook on South Africa. However, the overall double-digit inflation prevents African Central Banks to reduce policy rates, which is another factor behind high borrowing costs and overall subdued growth, especially among resource (and fuel)-intensive exporters. 

In her presentation on credit ratings in Africa, Sonia Essobmadje, Chief of ECA's Innovative Finance and Capital Markets Section, said, “Improving Africa's fundamentals and implementing a structural reform program would certainly over time contribute to better ratings, but more importantly to sustainable, inclusive growth and the well-being of the population. The development of African national and regional financial markets should be a priority, as this would reduce excessive dependence on external debt and improve the transmission of monetary policy.”

Misheck Mutize, Lead Expect on Credit Ratings, African Union cautioned that excessive reliance on credit ratings can amplify market instability and lead to pro-cyclicality. Interestingly, it is a rule under the EU Regulation 1060 of 2009, adopted following the crisis, that sovereign credit ratings should only be published on a Friday after close of business to avoid market disruptions and overreactions as well as reduce asymmetric information, as different markets are open at different times. This practice gives the investors a chance to digest the information and undertake their own analysis over the weekend.”

For his part, Marcus Courage, CEO of Africa Practice, said recent analysis and data collected by Africa Practice and Africa No Filter indicates that stereotypical media narratives about Africa are costing African nations $4.2 billion a year in inflated interest on sovereign debt due to poor international media coverage, often underpinned by conflict and war.

Daniel Cash, a non-resident Fellow at UNU-CPR, said, “To overcome the current 'credit rating impasse', large-scale architectural reform is needed. African countries need support and investment from partners to inject knowledge, skills, and nuance into their capacity to navigate the credit rating process. 

“Now is the time for partners to come together and offer a unified service to African Countries, and the rest of the Global South, so that the new environment that surrounds them need not be so punitive and regressive,” he added.

Distributed by APO Group on behalf of United Nations Economic Commission for Africa (ECA).

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SA welcomes US$300 billion commitment for climate finance

Location: News

SA welcomes US$300 billion commitment for climate finance

Government has welcomed the new finance deal of US$300 billion per year by 2035 - which was committed by high-income economies, to finance climate action for developing economies. 

The deal was clinched at the United Nations Framework Convention on Climate Change (UNFCCC) 29th Conference of the Parties (COP29), which concluded in the early hours of Sunday in Baku, Azerbaijan.

The agreement signals to private sector and multilateral development banks to scale up financing to developing economies to US$1.3 trillion per year by 2035.

“The decision underscores the importance of reforming the multilateral financial architecture, to make it fit for purpose to address the climate crisis. It also calls for scaled up support for climate action from multilateral financial institutions through grant-based and concessional financing,” Department of Forestry, Fisheries and the Environment Deputy Director-General for Climate Change and Air Quality Management Maesela Kekana said on Monday.

Kekana, who was the Chief Negotiator, said the decision further underscored the need to reduce barriers and address disenablers faced by developing economies in such as limited fiscal space, high levels of debt and high cost of capital.

South Africa’s delegation at the conference was led by Minister of Forestry, Fisheries and the Environment, Dr Dion George, who said the decisions that were adopted at COP29 are “a win for the country”.

“Parties adopted the Baku Climate Unity Pact consisting of a New Collective Quantified Goal (NCQG) on climate finance, Global Goal on Adaptation and Sharm el-Sheikh Mitigation Ambition and Implementation Work Programme as well as the key decisions on implementing the Paris Agreement’s Article 6.2 and 6.4. 

“The adoption of Article 6.2 and 6.4 decision on carbon markets will allow South Africa and other developing economies to initiate new carbon market projects, which will facilitate investments in green technologies and economic opportunities,” the department said. 

Going into the negotiations, the Minister was optimistic parties would take meaningful decisions toward quantifying quantify resources for developing economies, to meet ambitious climate targets. 

“There have been complaints from other parties about the leadership of the COP29 Presidency and that the decisions were not reached through full consensus. However, for South Africa, the decisions that were adopted are a win. 

“While we understand the frustration expressed by some parties, we do see the outcomes as a significant step in the right direction as it is more than what we had going into the negotiations and we can now build on that, especially given that South Africa will be the next President of the G20,” George said.

South Africa’s negotiating team was particularly pleased about the decision on the Mitigation Work Programme, which was Co-Chaired by Minister George and his Norwegian counterpart, Tore O. Sandvik.

“The Mitigation Work Programme will provide further opportunities to share experiences and match investment needs with investors. I am pleased with the outcome,” said Minister George. 

On adaptation, parties are on track to finalise the work on the adaptation indicators to track progress in the implementation of the global goal on adaptation, at COP30 in Brazil in 2025. 

“The conference also welcomed the rapid institutionalisation of the Loss and Damage Fund. Under the leadership of South Africa and France, the fund is expected to disburse funds to climate vulnerable communities in mid-2025. Team South Africa believes that COP29 was a huge success, which has inspired hope that we will be able to do more in future,” the department said. -SAnews.gov.za

 

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Moving in day for new Goodwood social housing tenants

Location: News

Moving in day for new Goodwood social housing tenants

The City of Cape Town has welcomed the latest group of tenants at the massive 1 055-unit Goodwood Station social housing partnership project, a new well-located, affordable housing development, valued at more than R500 million. 

In a statement on Saturday, the City said the purpose of social housing is to provide good quality rental housing in well-located parts of the City to households earning less than R22 000 per month.

The City of Cape Town has provided grant funding, land for parking, and various rates discounts and incentives to enable a viable social housing project at Goodwood Station.  

The project is a partnership between all spheres of government, including the City, National and Provincial Departments of Human Settlements, the Social Housing Regulatory Authority (SHRA), DCI Community Housing Services (the social housing institution undertaking the development), the Passenger Rail Agency of South Africa (Prasa), and the Development Bank of South Africa (DBSA) Infrastructure Fund, among others. 

Mayoral Committee Member for Human Settlements, Councillor Carl Pophaim, said that the City continues to leverage well-located land across the metro for affordable housing initiatives. 

In under two years, various municipal-owned properties - with a yield of more than 4 200 units – have already been released as part of the Mayoral Priority Programme for accelerated land release for affordable housing. Overall, the City has some 12 000 affordable units in the pipeline.

“Thousands of families are already tenanted at various well-located developments around the metro, including right here in Goodwood, nearby in Bothasig Gardens, Maitland Mews in the inner city, and the Western Cape government’s Conradie Park development in Pinelands. The City has further released several inner city land parcels for affordable housing, including Salt River Market, Pine Road, Dillon Lane, and New Market Street in the Woodstock and Salt River areas.

“All of these affordable rental units are close to economic and transport hubs. We are truly changing the metro, one affordable housing opportunity at a time, for families in various areas across the city. It was an honour to hand over the keys to these brand-new beautiful units to these families,” Pophaim said. 

Facts about social housing:

  • It is managed by accredited social housing institutions (SHIs).
  • SHIs are solely dependent on rental income. They receive no operational grants. They are able to service their debt finance through rental income.
  • As with any rental contract, tenants formally enter into lease agreements. The landlord is the SHI.
  • If tenants do not adhere to their lease agreements, the responsible SHI will follow the necessary legal process. Tenants must therefore pay to stay, as the rental money is used for the day-to-day operation and upkeep of the complex. 
  • The City has nothing to do with the day-to-day management of SHIs, the rental amount or evictions for not paying. 
  • Before potential beneficiaries can apply for social housing, they are required to register on the City's Housing Needs Register.
  • Projects are developed on well-located, accessible land in and near urban centres.
  • It is not low-income subsidised government housing, such as Breaking New Ground (or the commonly called RDP housing and it is not City Council Rental Units).
  • It is managed with 24-hour security and access control.
  • The City may sell City-owned land at a discounted price for social housing developments to make projects economically viable.
  • Social housing offers improved access to social facilities and other amenities.
  • A single grant subsidy can benefit on average five households versus one household for council rental units.
  • Social housing adds value to vacant pieces of land.
  • Social housing has the potential to improve property values in an area.

For more information and to apply, those who qualify can visit: https://www.capetown.gov.za/City-Connect/Apply/City-housing-and-properties/Housing-opportunities/Apply-for-social-housing   - SAnews.gov.za 

DikelediM
Sun, 11/24/2024 - 13:52

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Read moreMoving in day for new Goodwood social housing tenants

Strict movement control remains in place amid Foot and Mouth Disease

Location: News

Strict movement control remains in place amid Foot and Mouth Disease

The Department of Agriculture says strict movement control remains in place within the Disease Management Area (DMA) in the Eastern Cape and KwaZulu-Natal provinces to prevent the outward spread of Foot and Mouth Disease (FMD) outbreaks in both provinces.

While outbreaks in all other previously affected provinces have been resolved and officially closed with the World Organisation for Animal Health (WOAH), focused efforts are ongoing to manage and contain the disease in these two areas. 

The FMD outbreak in the Eastern Cape was first detected in May 2024 and has affected 37 farms in the Humansdorp area and one farm in East London.

Additionally, 36 farms were pre-emptively vaccinated to reduce the spread of the virus and mitigate clinical symptoms and 96 906 cattle and 635 sheep have been vaccinated, since the outbreak started.

The department said the Disease Management Area declared in July 2024, remains in effect.

“Movement of animals into, through, or out of this area is restricted and permitted only with authorisation from the State Veterinary office. No new cases have been reported since 19 September 2024, signalling that the virus circulation is declining,” the department said in a statement on Friday.

FMD spread to uPhongolo Municipality

It reported that in KwaZulu-Natal, FMD has extended to the uPhongolo Local Municipality in the north of the Zululand District.

Due to this, the existing Disease Management Area boundaries are under review and will be expanded to include newly affected areas and identified risk zones.

“Since the outbreak began in May 2021, the KZN province has reported 155 cases as part of the South African Territories 2 FMD event. Of these, 17 outbreaks have been resolved and closed with the WOAH.

“However, 133 active outbreaks remain within communal dip tanks, a few small-scale farms, and five game reserves, all located in close proximity,” the department said.

DMA with amended boundaries remains active

In a bid to control the spread of the disease, the department said the DMA established in 2021 in KwaZulu-Natal, with amended boundaries in 2022, remains active, while the DMA declared in Eastern in July 2024, continues to be enforced.

Farmers on infected or vaccinated farms must take every precaution to prevent the spread of the disease, and farmers in unaffected areas are also urged to maintain strict biosecurity to prevent FMD from entering their farms or communal grazing areas.

“Controlled slaughter of cattle from infected farms is permitted at designated abattoirs with additional biosecurity measures in place. Meat from restricted farms is safe for human consumption, though it cannot be exported due to certification constraints,” the department said.

The department has also commended the farmers efforts, including veterinarians, and other stakeholders in working to contain the disease, and urged continued vigilance to protect the livestock sector.

The FMD outbreak in East London, has been successfully contained.

“Animals on these farms are being slaughtered in a controlled manner at designated abattoirs, ensuring that FMD risk materials are properly processed or disposed of. Only safe products are released into the local market,” the department said.

While meat from FMD-restricted farms cannot be exported due to certification limitations, the department has reassured that the meat remains safe for human consumption.

“The Director of Animal Health has designated three abattoirs to handle the slaughter of cloven-hoofed animals from FMD-quarantined farms. Seventeen farms have been granted permission for controlled slaughter at these abattoirs.

“In addition to the control measures within the DMA in the Eastern Cape Province, the July 2024 Gazette Notice stipulates that cloven-hoofed livestock across South Africa may only be moved if accompanied by a health declaration from the owner, attesting to the animals' health at the time of movement. 

“While this has been a legal requirement since October 2022, its importance is being reiterated to prevent the further spread of FMD,” said the department. – SAnews.gov.za
 

 

GabiK
Fri, 11/22/2024 - 13:40

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Read moreStrict movement control remains in place amid Foot and Mouth Disease