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You are here: Home / Archives for Market

Market

22 November 2024

Nelson Mandela Bay Municipality assures of safe festive season

Location: News

Nelson Mandela Bay Municipality assures of safe festive season

The Nelson Mandela Bay Municipality has committed to collaborating with all law enforcement agencies to keep residents and visitors safe during the festive season.

The municipality and South African Police Service (SAPS) this week unveiled the 2024 Safer Festive Season Programme with a zero-tolerance approach towards crime at an event held in Feather Market Hall.

Nelson Mandela Bay Municipality Mayor, Babalwa Lobishe, led the operation together with the SAPS Nelson Mandela Bay District Commissioner, Major-General Vuyisile Ncata and Mayoral Committee Members.

Speaking at the launch, Lobishe said the cooperation agreement includes all spheres of government and civil society in creating a safe and secure environment; development of programmes, plans, interventions and infrastructure that will seek to reduce the levels of crime; and alignment of strategies and coordination of implementation.

"Certainly, we would like to see a clean and safe city. That is why I applaud the EDTA's [Economic Development Tourism and Agriculture] initiative of internal collaboration with public health as well as with the SAPS, businesses, and the tourism industry to ensure that these conditions for a successful season are addressed in preparation for the 2024/25 summer season.

“We wish to welcome back home those who work in other towns and the thousands of tourists who will be enjoying our ‘Friendly City’ and assure them that we are ready to delivery yet another memorable festive season," Lobishe said.

The Mayor added that the Departments of Home Affairs and Correctional Services have been integrated into the festive season operation.

The launch was held in conjunction with a successful road safety roadblock on the N2 Neptune Bridge.

A total of 454 vehicles were stopped while 225 were searched. Traffic fines for unlicenced and unregistered vehicles were issued, including two arrests, one for unlicenced firearm and one for driving under the influence of alcohol.

Ncata said criminals were operating in an organised fashion, and due to this, the law enforcement agencies have jacked up their operations.

He said he was happy with the police readiness, saying whether it be the traffic services, police, or metro police, “we are going to intensify our operations”.

The Major-General warned that the police will not tolerate lawlessness in the city.

“We want to hit the [ground] running, we want to be in the hot spot areas and roadblocks and address our crime generators especially in our taverns [and] check their compliance as well. Criminals are brazen, while we have our own plans, they also have their own plans."

Ncata highlighted that since the signing of the cooperation agreement, the district has seen a reduction in crime statistics, especially in house robberies, car and truck jackings, and street robberies where firearms are used. – SAnews.gov.za
 

 

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

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Read moreNelson Mandela Bay Municipality assures of safe festive season
20 November 2024

Government simplifies the process to apply for spaza shop permits

Location: News

Government simplifies the process to apply for spaza shop permits

Government has introduced a new standard draft by-law for township economies, which offers a simplified permitting and registration process.

The move is aimed at creating an enabling environment for small businesses in townships; supports economic inclusion, job creation and community empowerment.

The by-law was issued in accordance with the Local Government: Municipal Systems Act of 2000 by Minister of Cooperative Governance and Traditional Affairs (COGTA), Velenkosini Hlabisa, on 7 November 2024. 

“We are excited about this by-law as it is more than just a regulatory tool. It reflects our vision for township economies as key contributors to South Africa’s growth. 

“Through inclusive, streamlined, and supportive governance, this initiative lays a foundation for sustainable economic activity in historically underserved areas, empowering individuals to participate meaningfully in the economy,” the Minister said earlier this month.

The new by-law is a statement of the department’s commitment to transforming townships into vibrant economic hubs that provide sustainable opportunities for residents. 

“This regulation is designed to harmonise township business ecosystems by providing standardised norms and facilitating easier entry and operation for both formal and informal businesses. 

“It supports businesses with tailored resources, including permit registration processes and designated trading spaces, ensuring streamlined operations within municipal jurisdictions,” the department said.

Key features of the by-law include:

  • Enhanced freedom for business activities. Any individual with a business license may now conduct business within designated areas, subject to local quotas that ensure equitable opportunities for South African citizens and residents. This regulation aligns with the Constitutional right to freedom of trade, supporting entrepreneurial efforts that contribute to township vitality.
  • Designated business zones. Municipalities are empowered to establish business zones, creating spaces specifically tailored to retail, industrial, and mixed-use enterprises. This targeted approach ensures an efficient use of space, aligning township development with broader spatial planning goals to attract investment and infrastructure improvements.
  • Business support and capacity building. To further support township businesses, municipalities will facilitate workshops, training, and access to essential resources such as infrastructure and markets. This proactive approach helps small business owners improve operational capacity, while also promoting compliance with relevant laws and standards.
  • Simplified permitting and registration. The new standard draft by-law introduces an efficient permit and registration system that provides clear guidelines for businesses, including both physical and online access to application forms. Municipal officials will assist applicants in the process, ensuring timely approvals and smooth operations for new and existing businesses.
  • Safety and compliance assurance. The by-law mandates that all business activities align with public health and safety regulations. Regular inspections and public awareness campaigns will ensure that township businesses uphold the highest standards, protecting both entrepreneurs and the communities they serve.
  • Inclusive growth strategy. Recognising the economic significance of townships, the by-law places a strong emphasis on skills development, mentorship, and market access initiatives to support businesses and help them thrive within local and broader markets.

CoGTA said it remained dedicated to engaging communities and stakeholders in the implementation of the by-law, ensuring that its benefits reach every corner of South Africa’s townships.

To read the full gazette go to https://www.cogta.gov.za/index.php/docs/local-government-municipal-systems-act-2000/. - SAnews.gov.za

nosihle
Wed, 11/20/2024 - 14:25

182 views
Read moreGovernment simplifies the process to apply for spaza shop permits
20 November 2024

Telecoming and MTN Partner to Launch Cloud Gaming in South Africa

Location: News

Telecoming
Download logo

  • Both companies extend their collaboration to introduce cloud gaming in South Africa.
  • MTN Cloudplay aims to revolutionize digital entertainment with affordable, high-quality gaming access.

MTN, Africa's leading telecommunications operator with over 290 million subscribers across the continent, announces the launch of Cloudplay, a revolutionary new cloud gaming service, with Telecoming (www.Telecoming.com), a sportech company specializing in developing and distributing mobile experiences for sports and entertainment. This project marks a new milestone in the ongoing collaboration between the two companies.

MTN Cloudplay: A Game Changer

MTN Cloudplay will allow MTN users in South Africa to access a wide range of cloud-based video games, providing a high-quality gaming experience without the need for downloads or high-end gaming consoles. The service will allow customers to stream high-end PC games to their mobile phones, enabling them to play anywhere, anytime.

This service seeks to democratize access to high-quality mobile gaming for the whole family; including various genres which include retro games and exciting popular gaming titles with multi-device gameplay, at an affordable price of only R79 per month.

Jason Probert, General Manager for Digital Services at MTN South Africa shared his thoughts on the collaboration:

"We're thrilled to launch MTN Cloudplay in South Africa. We're committed to enabling our customers to enjoy the benefits of a modern connected life and the advent of 5G means that it is now possible to stream and play games without the need for a PC or console. Customers can use their existing Steam licenses on the service, and have access to more than 300 games on the service for only R79 per month."

Alí Karaosman, MEA Director of Telecoming says "It is very exciting for us to extend our collaboration with MTN, bringing our nearly decade-long experience in this market and supporting the operator in this innovative digital entertainment offering, we are convinced that MTN Cloudplay will revolutionize the way users in South Africa enjoy video games. For Telecoming, this partnership with MTN is a strategic step in our mission to bring esports and innovative digital services to Africa. We are committed to continuing to develop technological solutions that enhance digital leisure for people in the region."

Service Details

MTN Cloudplay is available to all MTN users in South Africa since November 2024. With a vast library of over 340 games from over 50 publishers, this cloud gaming service offers an unmatched gaming experience on any device.

MTN Cloudplay is accessible to MTN subscribers. Users can visit https://Cloudplay.MTN.co.za to explore the platform and enjoy a wide selection of gaming titles.

Highlights

  • Extensive Game Library: Enjoy classics like Contra, PacMan and Mortal Kombat and modern hits like Hogwarts Legacy and Borderlands 3.
  • Bring Your Own License (BYOL): Access games you've purchased on Steam, such as Grand Theft Auto V and Fallout 4.
  • Multi-Device Access: Play on any device and switch seamlessly between them.
  • Low Latency: Experience responsive gameplay with minimal lag.
  • Subscription: Available directly on https://Cloudplay.MTN.co.za or via the MTN Play https://Play.MTN.co.za website for R79 per month.

Distributed by APO Group on behalf of Telecoming.

For MTN Queries​:
Leigh-Ann Chetty
Senior Manager: Public Relations, MTN SA  
Cell: 083 209 1310  
E-mail: Leigh-Ann.Chetty@mtn.com  

Mthokozisi Ndlovu
Senior Manager: External Communications, MTN SA  
Cell: 083 209 2683  
E-mail: Mthokozisi.Ndlovu@mtn.com   

Press Contact Telecoming:
Bárbara González
barbara@bgdiez.es
M. +34 603 578 65

Follow us:                                                                                    
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LinkedIn: https://apo-opa.co/3CA7cz3

About the MTN South Africa:
Launched in 1994, MTN South Africa is a subsidiary of MTN Group, a leading emerging market operator with a clear vision to lead the delivery of a bold new digital world to our customers. We are inspired by our belief that everyone deserves the benefits of modern connected life. The MTN Group is listed on the JSE Securities Exchange in South Africa under the share code ‘MTN'. Our strategy is Ambition 2025: Leading digital solutions for Africa's progress.  

About Telecoming:
Telecoming is a sportech company specializing in developing and distributing mobile experiences for sports and entertainment. The firm has been deploying monetization technologies in partnership with telcos since 2008. Telecoming is currently present in 18 countries. Its portfolio includes the official licenses of the leading soccer clubs in Europe and Africa, as well as the main competitions of 12 sports disciplines. Leader in the digital content economy since its foundation, the company has been recognized by the London Stock Exchange as one of Europe's most inspiring organizations. In addition, it is one of Europe's fastest-growing companies, according to Morningstar's 5000 Inc. ranking. For more information, please visit: www.Telecoming.com

Read moreTelecoming and MTN Partner to Launch Cloud Gaming in South Africa
19 November 2024

vivo Brings Flagship X200 Pro to Africa, Powered by Mediatek’s Groundbreaking Dimensity 9400 Chip

Location: News
MediaTek Inc.

vivo (www.vivo.com/za), one of the top five smartphone manufacturers in the world, is bringing its all-new vivo X200 Pro flagship smartphone range to Africa in collaboration with MediaTek (www.MediaTek.com), a global fabless semiconductor company powering over two billion connected devices annually. The collaboration was announced at AfricaCom 2024 in Cape Town.

The vivo X200 Pro features groundbreaking imaging technology, exceptional processing power, and a suite of innovations for productivity and creativity. Among the first smartphones powered by Dimensity 9400 (https://apo-opa.co/3OjMjdG), the Vivo X200 Pro comes in the Pro Mini variant alongside the base and Pro models.

The device is built on the MediaTek Dimensity 9400, the company's new-generation flagship smartphone chipset optimised for edge-AI applications, immersive gaming, incredible photography, and more. Featuring the all-big-core Arm Cortex-X925 CPU at 3.62GHz, the SoC delivers blistering performance.

The design offers 35% faster single-core performance and 28% faster multi-core performance compared to MediaTek's previous generation flagship chipset, the Dimensity 9300. Built on TSMC's second-generation 3nm process, the Dimensity 9400 is up to 40% more power-efficient than its predecessor, allowing users to enjoy longer battery life.

“As our fourth-generation flagship, the Dimensity 9400 builds on our momentum in the premium segment,” said Rami Osman (https://apo-opa.co/48T6tVz), Director of Business Development for MediaTek Middle East and Africa. “It enables manufacturers like vivo to build future-proof devices with next-generation features like Wi-Fi 7 tri-band MLO and on-device generative AI.”

Incorporating MediaTek's 8th Generation NPU, the Dimensity 9400 is the first mobile chipset to offer on-device LoRA training, high-quality on-device video generation, and developer support for Agentic AI. Dimensity 9400 offers up to 80% faster large language model (LLM) prompt performance.

Tony Shi, GM of vivo South Africa, said: “In 2023, vivo joined hands with MediaTek to usher in the all-big-core era. This year, we are proud to collaborate with MediaTek to define the second-generation all-big-core 3nm Dimensity 9400. The SoC delivers excellent performance across all productivity, gaming and media experiences.

“The tuning of vivo's BlueChip technology solutions unleashes the performance of the Dimensity 9400 flagship, while achieving excellent power efficiency control. This achieves a balanced state of high efficiency and low power consumption, empowering the vivo X200 Pro with exceptional experiences in performance, power efficiency, gaming, communication, security, imaging, display, and AI.”

Distributed by APO Group on behalf of MediaTek Inc..

For media queries:
Idea Engineers (PR agency for MediaTek)
Ashmika Naidoo
Mobile: +27 (0)78 371 1645
ashmika@ideaengineers.co.za

Social Media:
Twitter: https://apo-opa.co/4fzOjKU
YouTube: https://apo-opa.co/3CxH6fU
Facebook: https://apo-opa.co/3ADznfP
Website: www.MediaTek.com

About MediaTek Inc.:
MediaTek Incorporated (TWSE: 2454) is a global fabless semiconductor company that enables nearly 2 billion connected devices a year. We are a market leader in developing innovative systems-on-chip (SoC) for mobile, home entertainment, connectivity and IoT products. Our dedication to innovation has positioned us as a driving market force in several key technology areas, including highly power-efficient mobile technologies, automotive solutions and a broad range of advanced multimedia products such as smartphones, tablets, digital televisions, 5G, Voice Assistant Devices (VAD) and wearables. MediaTek empowers and inspires people to expand their horizons and achieve their goals through smart technology, more easily and efficiently than ever before. We work with the brands you love to make great technology accessible to everyone, and it drives everything we do. Visit www.MediaTek.com for more information. 

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MediaTek Inc.
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Read morevivo Brings Flagship X200 Pro to Africa, Powered by Mediatek’s Groundbreaking Dimensity 9400 Chip
18 November 2024

Africa Tech Festival 2024 showcases innovation across Africa’s technology ecosystem

Location: News

Africa Tech Festival
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Over 15,000 attendees were welcomed to the 27th annual Africa Tech Festival (www.AfricaTechFestival.com) by South African Minister of Communications and Digital Technologies, Hon. Solly Malatsi. The Department is an official partner of this year's event, which features more than 300 exhibitors and 400 speakers representing all facets of the tech ecosystem.

Emphasising a shared vision of a digitally connected, inclusive, and prosperous Africa, leveraging technology to drive economic and social progress, the Minister reaffirmed host country South Africa's commitment to bridging the digital divide through policy, partnerships, and investments in universal connectivity and affordability. “While technology holds enormous promise, it is essential that we harness this potential in a way that can benefit all the people on the continent and the rest of the world. South Africa is honoured to play its role on this journey, both as a leader and a partner to our fellow African countries,” he said.

Organised by Informa Tech (https://www.InformaTech.com/), the Africa Tech Festival's anchor events –AfricaCom, AfricaTech, and AfricaIgnite – along with the AI Summit Cape Town, provided delegates with the opportunity to explore enterprise tech innovation and disruption across key sectors such as cybersecurity, cloud, data centres, and green ICT.

Highlights of the first two days of the event, which ran from 12 to 14 November at the Cape Town International Convention Centre, included:

AI Summit Cape Town

Hon. Mondli Gungubele, Deputy Minister of Communications and Digital Technologies, opened the inaugural AI Summit Cape Town. Along with introducing the newly-formed AI Institute of South Africa, he called for collaboration among government, industry, academia, and civil society to maximise AI's benefits while addressing challenges like job displacement and ethical considerations, saying, “Let's seize this opportunity to shape a future where AI helps us uplift our citizens, drive economic growth, transform our society for the better and leave no one behind.”

The AI Summit features the biggest names and brightest minds in AI, all exploring how this transformative technology can create a brighter future for Africa. For instance, the panel session Navigating AI Policy Challenges: Collaborative Approaches to Strengthen Governance in Africa focused on fostering global cooperation in AI governance, emphasising cross-border collaboration, universal safety standards, and ethical innovation. The discussion also highlighted the role of public-private partnerships in implementing equitable AI policies.

AfricaIgnite

AfricaIgnite is the flagship event for founders, investors, and key players in the tech ecosystem. It supports market access and investment opportunities.

The panel Overcoming the Funding Winter: Strategies for Early-Stage Start-Ups highlighted resilience in the early-stage start-up ecosystem, exploring strategies employed by successful start-ups to attract investors and secure funding in a competitive market. It also examined the role of accelerators and incubators in fostering growth and supporting the development of African tech start-ups.

A dynamic fireside chat on The Rise of Debt Financing as an Alternative Funding Model explored the growing appeal of debt financing for late-stage start-ups, delving into the key drivers behind this trend. The benefits of debt financing and insights into the strategic considerations start-ups should evaluate when transitioning to this alternative funding model were also discussed.

Another high-level panel, titled The Search for Liquidity: Navigating African Startup Exits, explored the growing dominance of mergers and acquisitions (M&A) as the main exit strategy for African start-ups, especially in fintech, with IPOs remaining scarce. It also examined the factors driving this trend and its impact on the African startup ecosystem.

AfricaCom

AfricaCom brings together Africa-focused connectivity leaders and the brightest minds in the telecoms space. Within the Connectivity & Digital Infrastructure stream, an insightful panel discussion on Connecting Africa's Next Billion: Scaling Africa's Digital Infrastructure explored the economic and social benefits and challenges of expanding internet connectivity. Industry experts and stakeholders discussed the critical role of governments, telcos, and tech innovators in building sustainable infrastructure to expand internet access, particularly in remote and underserved areas, to advance digital inclusion across the continent.

In the Telcos of Tomorrow stream, panellists explored AI's transformative potential in the telecoms sector in a session titled Integrated AI: Telco Blueprints for Business Model and Service Delivery Transformation. Emphasising how AI optimises complex organisational systems, the panel discussed the challenges of implementing these systems.

AfricaTech

Driving funding for female-led start-ups was the theme of the Empowering Female Founders: Narrowing the Gender Gap in Venture Capital panel discussion, which addressed the persistent challenge of gender disparity in African venture capital. Networks, mentorship, technical support, celebrating successful female founders as role models, and challenging stereotypes were some of the topics.

“2024 is a standout year for Africa Tech Festival, being the largest event in almost three decades. We have more attendees and exhibitors, more features, more content, and more opportunities to position Africa as a tech powerhouse. The opening days have been overwhelmingly positive, with delegates engaging, networking, and sharing insights that have the potential to reshape Africa's tech ecosystem. We are seeing innovative solutions to the continent's tech challenges and a commitment to contribute positively to growing Africa's economic potential. I'm confident that this will continue not only for the remainder of the event but into the future as well,” concluded James Williams, Event Director of Africa Tech Festival.

Visit the AfricaTech Festival website (http://apo-opa.co/3ANhFGy) for more details.

Distributed by APO Group on behalf of Africa Tech Festival.

About Africa Tech Festival:  
Africa Tech Festival, including anchor events AfricaCom, AfricaTech, AfricaIgnite & AI Summit Cape Town is part of the Informa Tech Connecting Africa event series. A vibrant celebration of Africa's diverse community of tech champions, Africa Tech Festival is the largest tech and digital connectivity conference and exhibition in Africa, attracting hundreds of exhibitors, more than 450 speakers and more than 15000 delegates.  

Read moreAfrica Tech Festival 2024 showcases innovation across Africa’s technology ecosystem
17 November 2024

SA’s participation in the G20 reaffirms country’s values, says analyst

Location: News

SA’s participation in the G20 reaffirms country’s values, says analyst

By Gabisile Ngcobo 

Rio de Janeiro - South Africa’s participation in the Group of Twenty (G20) reaffirms the country’s values enshrined in the Constitution and, given the ongoing global geopolitical tensions, every effort to foster cooperation must be pursued.

This is according to Research Professor of International Politics at the University of South Africa (Unisa) Jo-Ansie van Wyk.

The G20 is a group of developed and emerging market economies that are dedicated to promoting economic cooperation, environmental sustainability, social inclusion and global equity.

“These are values that South Africa has enshrined in its foreign policy and, of course, are enshrined in our Constitution.

“For South Africans, our government’s participation is a reconfirmation of these values. Therefore, we can hold government democratically accountable if there is a disjuncture between its domestic and foreign policies,” she told SAnews. 

She said the summit was an opportunity for leaders to engage with their peers and counterparts. 

“These intergovernmental forums express a commitment to and the practice of global cooperation, rather than conflict. It offers states an opportunity to address matters of mutual concern, share responsibilities and serve as a communication medium to foster further international cooperation.”

On November 18 and 19, leaders of the G20 nations will meet in Rio de Janeiro to discuss an agenda set by Brazil, with the African Union (AU) participating as a full member for the first time.

Read I President arrives in Brazil to lead SA’s participation at G20 Summit

According to Van Wyk, this means that the Global South and the AU have an important task to communicate their needs and positions for the first time.

“Moreover, it is an opportunity to bring our resources as limited as they are to the table. We have, for example, excellent diplomats and astute businesspeople. Therefore, the Global South should promote the message it offers to global cooperation.” 

She urged the Global South to negotiate mutually beneficial commitments and agreements.

In addition, the Global South must ensure that at each state’s domestic level, it complies with good governance and human rights, she said. 

“This will add to our status when we speak at these forums. In this way, we can hold the Global North accountable to the same standards.”

Van Wyk argued that gatherings like the G20 and BRICS Summits serve their purpose, emphasising that diplomacy is an ongoing process rather than a one-time event, such as signing an agreement.

“It takes time for states to adjust to new ideas and domesticate new ideas and agreements due to each state’s unique constitutional system. Moreover, governments come and go, but states do not.”

BRICS stands for a group of significant emerging-market nations: Brazil, Russia, India, China, and South Africa. 

Recently, additional countries have joined the group, which now represents an increasing share of the global economy.

She emphasised that a significant outcome of BRICS+ is its expansion, along with its formalisation and institutionalisation through the New Development Bank, summits, and interactions among academics and business professionals.

She cited Eskom, which has benefitted from a loan from this new bank. 

Reports indicate that the bank approved a R18 billion loan to enhance water and sanitation services in South Africa, along with a R5 billion loan to support Transnet’s recovery program.

However, the Professor explained that the outcomes of these summits are often aligned with states’ existing international commitments at bilateral and multilateral levels. 

She said past G20 Summits achieved tangible results. This includes South Africa joining the intergovernmental forum and the historic inclusion of the AU.

“All these developments are concretely giving South Africa and the AU a seat at the table.”

Last year, government faced criticism for spending R180 million on the BRICS Summit, which some referred to as a “talk shop”. 

The Professor recognised that intergovernmental gatherings and summits are expensive; therefore, their outcomes must be concrete and align with South African interests.

“Our economy is not growing as expected, investment is not flowing in as expected, state capture has depleted the fiscus and DIRCO’s [Department of International Relations and Cooperation] budget is not sufficient to realise all our foreign policy ideals, commitments and responsibilities. 

“Therefore, it is very important that South Africans experience these summits as beneficial to us.” 

She emphasised that if funds are allocated for this purpose, equal amounts must also be directed towards domestic needs.

“This is difficult. Besides the status and prestige value of hosting the summit, we will be able to host world leaders and benefit from cooperation. Therefore, South Africa’s Presidency must be innovative, produce tangible results and grip the imagination of South Africans.” – SAnews.gov.za

Gabisile
Sat, 11/16/2024 - 20:13

79 views
Read moreSA’s participation in the G20 reaffirms country’s values, says analyst
15 November 2024

MSF Slams Novo Nordisk for South Africa’s Insulin Pen Shortage

Location: News

But the multinational pharmaceutical company says it offered government solutions

Read moreMSF Slams Novo Nordisk for South Africa’s Insulin Pen Shortage
15 November 2024

Spaza shops implicated in child deaths to be shut down

Location: News

Spaza shops implicated in child deaths to be shut down

President Cyril Ramaphosa has announced decisive measures to address the recurring food-borne illnesses that have claimed the lives of at least 22 children across the country.  

These include the immediate closure of spaza shops implicated in the deaths and stricter regulations to protect communities.

Addressing the nation from the Union Buildings in Pretoria on Friday, President Ramaphosa outlined three critical interventions to be implemented with immediate effect.

“Following the special meeting of Cabinet, we have decided to make the following interventions: The first intervention is to get hazardous pesticides off the street, the second critical intervention is to protect children from exposure to these substances, the third critical intervention is to prevent future outbreaks. The following measures will be implemented with immediate effect.

“The spaza shops which have been implicated in the deaths of children will be closed with immediate effect. Non-compliant businesses and shops linked to any poisoning incidents or found to unlawfully stock hazardous chemicals will be shut down,” the President said. 

To ensure compliance, all spaza shops and food-handling facilities must register with their respective municipalities within 21 days. 

“Any shop that is not registered within 21 days and does not meet all health standards and requirements will be closed,” President Ramaphosa said. 

The President’s address comes in response to 890 reported cases of food-borne illnesses across the country, with Gauteng, KwaZulu-Natal, Limpopo, Free State, and Mpumalanga the hardest hit. 

In recent weeks, food-borne illnesses have claimed the lives of at least 22 children. Last month there was a major food-borne incident in Naledi, in Soweto in which six children died, the youngest of them being six years old. 

Multidisciplinary Response teams activated

Soon after the deaths, a multidisciplinary team in government was activated to address the incidents, with Cabinet having met on three occasions to receive reports on them.

These teams included detectives from the South African Police Service, health officials, environmental inspectors, Department of Agriculture officials and officials from the National Consumer Commission. 

The National Institute for Communicable Diseases was requested to conduct scientific tests and has established that the deaths of the six children in Naledi can be directly attributed to a highly hazardous chemical used as a pesticide known as Terbufos.

The President said few words can adequately convey the sadness and pain of the nation.

“Our thoughts and prayers are with their families as they go through the pain and the anguish of losing their children. Losing a child is something no parent should ever have to endure,” he said. 

Nationwide Inspections and Crackdowns

President Ramaphosa said that the South African Police Service and other law enforcement agencies will be required to investigate, arrest and prosecute offenders. This will involve close cooperation with all registered manufacturers and suppliers. 

“Integrated multidisciplinary inspection teams will undertake compliance inspections of food handling facilities, manufacturers, distributors, wholesalers and retailers. This will include spaza shops and general dealers.

“A massive campaign of door-to-door inspections of all spaza shops, tuck shops and other informal traders will be undertaken, starting with Gauteng and KwaZulu-Natal,” he said. 

This will be undertaken by inter-disciplinary inspections teams consisting of the South African Military Health Services, environmental health practitioners, the South African Police Service, the National Consumer Council, labour inspectors and others.

The President emphasised that the initial phase of inspections will need be completed within a month.

Registered manufacturers and distributors of Terbufos will also be scrutinised to ensure compliance and prevent misuse. The supply chain for hazardous chemicals will face tighter regulations, including strengthened protocols for traceability, repackaging, and disposal.

“All registered manufacturers of Terbufos will be inspected to ensure that no products are diverted into the non-agricultural market. The supply chain process for distribution and sale of Terbufos will be investigated to ensure that controls are being adhered to and that there is accountability for who they sell to,” the President said.

President Ramaphosa emphasised that regulations and protocols on the traceability, repackaging, destruction and sale of pesticides, insecticides and foodstuffs will be strengthened. 

Turning to the second intervention on the protection of children from exposure to harmful substances, the President announced that the Department of Basic Education will immediately issue a circular to Provincial Education Departments and all schools on best practice protocols for preventing and managing food-borne illnesses within schools.

The third intervention, which is aimed at preventing future outbreaks, is that the President has directed that joint operational and intelligence structures be established at a national and provincial level to deal with the crisis.

“Our local municipalities will be required to take urgent action to address the problem of rat infestations by cleaning cities and towns and removing waste. All municipal landfill sites will be required to comply with the National Environmental Management Waste Act. Failure to comply will result in strict sanctions that include directives, compliance notices and criminal enforcement,” he said. 

The President said a Ministerial Health Advisory Committee was being established to develop medium- and long-term prevention measures. This committee will consist of experts such as toxicologists, paediatricians, chemical pathologists, epidemiologists, forensic pathologists and others.

“All deaths of patients 12 years and below will be made notifiable in the Notifiable Medical Condition Surveillance System. An electronic medical certification of death system will be established to allow the National Department of Health to access cause of death information immediately after a death is certified,” he said. 

President Ramaphosa said the work of the Biosecurity Hub will be strengthened to better control the entry of products, organisms and harmful biological products at ports of entry.

The Department of Agriculture is in the process of reviewing and updating all relevant legislation with respect to the regulation and authorisation of agricultural pesticides for use in South Africa.

WATCH I President Cyril Ramaphosa addresses nation on food safety actions

The President announced a joint fund of R500 million to support small businesses, particularly township and rural convenience shops. The funding will cover refurbishment, technical training, and compliance support.

“A joint fund of R500 million will be established by the Departments of Trade, Industry and Competition and Small Business Development to support township and rural businesses, including community convenience shops.

“The funding will be for the refurbishment of businesses and non-financial support in terms of technical skills, regulatory compliance and capacity building,” he said. 

The President said that as government undertakes these interventions and measures there is a lot that parents can do to protect their children. – SAnews.gov.za

 

DikelediM
Fri, 11/15/2024 - 21:41

195 views
Read moreSpaza shops implicated in child deaths to be shut down
15 November 2024

OLA South Africa Announced As CSA’s Official Ice Cream Partner

Location: Sport

JOHANNESBURG: Cricket South Africa (CSA) has today announced Ola South Africa as its official ice cream partner for the current...

Read moreOLA South Africa Announced As CSA’s Official Ice Cream Partner
15 November 2024

Health Department to Take Medical Approach to Heroin Crisis

Location: News

In response to high rates of heroin use, the government will pilot an opioid agonist therapy program

Read moreHealth Department to Take Medical Approach to Heroin Crisis
14 November 2024

Why Wage Inequality Matters

Location: News

New legislation empowers shareholders to limit outrageous CEO remuneration

Read moreWhy Wage Inequality Matters
14 November 2024

Support for manufacturing remains a priority for government

Location: News

Support for manufacturing remains a priority for government

Trade, Industry and Competition Deputy Minister Andrew Whitfield says supporting the manufacturing sector in South Africa remains a key priority for government, as this will lead to more sustainable growth and job creation. 

Whitfield was speaking during a site visit to the Usabco Addis manufacturing plant in Cape Town, Western Cape.

According to Whitfield, supporting the manufacturing sector and developing policies that are competitively driven will contribute immensely and respond to some of the issues that the sector is currently facing. 

“As the world changes, South Africa is well positioned globally to look at innovative ways to develop and grow the sector. Research, innovation, localisation, the green economy and trade agreements are some of the tools and factors that can be used to position the sector as the leader on the continent,” said Whitfield.

Whitfield commended Usabco Addis for its contribution to the circular economy. This as 40% of the company’s products are produced from recycled plastics and he encouraged the company to find ways to increase its recycled inputs further.

The company currently employs over 800 people, and the Minister was impressed by its efforts to increase its local market share and the creation of even more jobs. 

Whitfield also pointed out that the Department of Trade, Industry and Competition (the dtic) funding agencies, such as the Industrial Development Corporation (IDC) can be engaged to fund some of the projects that can assist the sector.

“Government does not underestimate nor take for granted the contribution and the investment that the sector has made over the years. It is for us as the department to be in a well-informed position to come with policies that will sustain the sector going forward. 

“Ultimately, our job in government is to make it easier for businesses to grow and create jobs, and for our people to get those jobs and keep those jobs.”

Whitfield added that Africa was seen as the next frontier in the manufacturing sector with the African Continental Free Trade Area’s (AfCFTA) drive to boost intra-Africa trade, encourage investment, and stimulate economic growth. 

He said that this was an opportunity the country must take full advantage of, as the continent moves in the right direction to curb red tape and drive trade with each other.

“The dtic’s urgent priority over the next five years is to create rapid, inclusive, sustainable growth and job creation through manufacturing, services, investments and export lead growth,” he said. – SAnews.gov.za
 

 

Edwin
Thu, 11/14/2024 - 15:08

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Read moreSupport for manufacturing remains a priority for government
14 November 2024

Liquid C2 Builds on Strategic Partnership With Cloudflare to Introduce Enhanced Cyber Security Solutions

Location: News
Liquid Intelligent Technologies

Liquid C2, a business unit of Cassava Technologies has further solidified its strategic partnership with Cloudflare. The latter has appointed Liquid C2 as the first distributor of their new range of cyber security products in South Africa, a testament to Liquid C2 expertise and trustworthiness in the industry. In addition to South Africa, the company will make the solutions available to its partners in Namibia, Zimbabwe and Zambia. 

With the new offering, Liquid C2 is set to deliver application services that provide security and performance solutions for web applications, network services that secure enterprise networking and zero trust services. The 2023 Cyber Security report from Interpol revealed a 23% year-on-year increase in the average number of weekly cyberattacks per organisation in Africa, underscoring the pressing need for cost-effective integrated cybersecurity services for businesses in the mid-market segment.

Oswald Jumira, CEO of Liquid C2, reassures, “Through this partnership, we will enable our channel partner ecosystem through Cloudmania to expand their cyber security solution offering to their customers. Modern businesses need robust, scalable, and secure solutions to support hybrid work environments, protect against network and application-level threats, and ensure reliable connectivity. This offering, which combines the reach of Liquid C2 and Cloudmania and Cloudflare's expertise, is a testament to our commitment to enabling businesses to thrive in the growing African digital economy”.

Graham Turnbull, Cloudflare said, “Cloudflare is excited to announce an expanded partnership with Liquid C2 to launch a Managed Services Programme aimed at delivering advanced security and performance solutions to businesses of all sizes across Africa. As long-standing partners, Cloudflare and Liquid C2 are committed to empowering organisations with scalable, resilient digital infrastructure. This collaboration brings together Cloudflare's world-class technology with Liquid C2's extensive network, supporting the continent's digital growth and security needs”.

Additionally, Cloudflare's zero trust services provide a security model that requires strict identity verification for every individual and device trying to access resources on a private network. This solution is critical for any organisation that has moved to a hybrid and remote work model. In today's ever-evolving cyber threat landscape, businesses need to secure access to applications and data from any location, ensuring that only authorised users and devices can connect. This milestone enables African companies to level the playing field against their international counterparts, making Africa an attractive investment destination.

Distributed by APO Group on behalf of Liquid Intelligent Technologies.

About Liquid C2:
Liquid C2, a business of Cassava Technologies, delivers cutting-edge cloud and cybersecurity services and solutions. Committed to facilitating digital transformation, Liquid C2 is positioned to provide comprehensive solutions tailored to meet the evolving demands of the digital era by empowering businesses to navigate the complexities of the modern digital landscape securely. The company's offerings span cloud solutions that enhance accessibility and scalability, and robust cybersecurity services to safeguard sensitive data and elevate security and compliance posture to ensure businesses remain seamlessly connected and protected. https://LiquidC2.com/

About Cloudflare:
Cloudflare, Inc. (www.Cloudflare.com / @ cloudflare: https://apo-opa.co/3YPYmnV) is on a mission to help build a better Internet. Cloudflare's suite of products protect and accelerate any Internet application online without adding hardware, installing software, or changing a line of code. Internet properties powered by Cloudflare have all web traffic routed through its intelligent global network, which gets smarter with every request. As a result, they see significant improvement in performance and a decrease in spam and other attacks. 

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13 November 2024

Dismissed and Ignored: Keys to an African Lobby Group’s Success Being Overlooked by Climate Activists and Africa Oil Week

Location: News
African Energy Chamber

By Ajong Mbapndah L.

In 2021, the citizen-driven African Energy Chamber-AEC (www.EnergyChamber.org), and its unapologetic position in support of the right of African countries to produce oil and gas spread like wildfire. They adopted a narrative of Drill Baby Drill shocking most western political establishment, African elites and pundits.

Within a short time, well funded backers were leaping at the chance to harness this new display of African public power backing the oil and gas industry led by a charismatic and well-connected US trained lawyer NJ Ayuk. He talks like a southern Baptist preacher and trial lawyer and religiously wears only cowboy boots. Ayuk had been mentored at the University of Maryland by Dr. Ron Walters, who was Jesse Jackson's campaign Manager and at William Mitchell College of Law by John Radsan who was Assistant general counsel of the C.I.A under George W Bush. In 2013, he became part of Global Shapers, a non-profit foundation created by the World Economic Forum to unite a community of young leaders. In 2015, he was named among the 10 most influential men in Africa by Forbes magazine.

Eventually, hundreds of energy groups across Africa translated their collective strength into substantial results, putting a message engineered by the African Energy Chamber to influence African political establishment to back the oil and gas industry during COP and also provide incentives for oil drillers. Oil and natural gas is not a dirty word in Africa thanks in large part to the crusade of the African Energy Chamber.  

It's true that the AEC's anger at western wokeness and transition plans sometimes came across as extreme. While they showed that African voices can impact energy policy and international discourse, they may have also set the stage for increased divisiveness in a polarised energy discussion across the world. In some instances, observers believe the AEC pressured African leaders into backing a capitalist driven oil and gas industry at the expense of green energy. They gave home to Trump loyalist who wanted to deal with Africa. 

Given even sharper language in 2021 and 2022, it's perhaps more important than ever to understand that the AEC's success wasn't dependent solely on hostility. Behind the scenes, the story is a bit more complex. And love them or hate them, the AEC showed that African voices really can add up to something big.

So, how did the AEC turn regular, even highly cynical, Africans into an army of engaged people defending the interest of Africa and oil and gas investors in Namibia, Nigeria, Angola, South Africa, Equatorial Guinea, Libya, Senegal, Algeria, Mauritania, Ghana, Mozambique, Uganda and many more countries? Here are some strategies that set the AEC apart, gained it instant attention, and built—in short order—real power.

These strategies aren't really secret, of course, or even necessarily new, but the AEC offers lessons that any grassroots group would be wise to review even when it is a capitalist organisation. After attending African Energy Week in Cape Town and talking to observers you understand a few things.

The AEC Gave Good Content And Sweets To The Media

The AEC content and position or energy transition and oil and gas were irresistible political theater for news media. Some of the early success was about novelty. An unusual African protest movement, featuring not only Africans but older, whiter, more conservative Europeans and Americans who weren't used to taking their views in public (that kind of action was considered by many whites, the domain of hippies and Lefties).

But beyond that, members' intensity and authenticity were key factors: their heart and soul, their true colors were on display and the media couldn't get enough. The AEC got massive coverage. Their members loudly embraced slogans and symbols, and most were extremely passionate and vocal. They demonstrated their commitment in authentic, home-spun ways that made great TV footage—that is, by brandishing provocative Drill Baby Drill signs. The attention they earned was tremendously exciting for participants, and when events garnered headlines, they encouraged others to join in and start AEC groups of their own in Nigeria, Namibia, Ghana, Equatorial Guinea, Angola, Senegal and Algeria.

The AEC Gave Africans A Safe Haven To Oppose A Western Driven Anti Oil And Gas Agenda

Many Africans were anxious about longstanding cultural shifts they felt were occurring in the climate change culture and strong calls to abandon oil and gas. Africans still have to deal with energy poverty issues and also industralisation that is lagging behind in the continent.

According to the International Energy Agency (IEA), more than 600 million Africans lack access to energy, around 900 million are without clean cooking. To solve this the African Energy Chamber has aggressively lobbied and pushed African nations to embrace an “All of the Above” energy strategy—which supports greater domestic production of oil and natural gas, renewable and nuclear energy, and critical mineral mining—would help to provide energy access and encourage development  and job creation.

For many Africans, speaking their minds in public was daunting and unfamiliar. The AEC events prompted many people to speak out in public for the first time. People who had felt shut out, misunderstood, and alienated were encouraged to vent their frustrations and talk about themselves, their families, and what they wanted—and into a microphone, no less! Great early set up and as crazy as it sounds it worked.

Africans and oil industry for once felt safe. The western oil companies had found “their people.” Their voices finally mattered. Western oil companies felt for once that an African organisation spoke to their issues. The AEC spoke from the heart through their press releases.

Most importantly, speaking out made them feel like proper, boisterous Africans having their say. 

The AEC Kept It Simple And Never Strayed Away From Its Core Purpose

The AEC has been laser focused on its core message around free markets, Drill Baby Drill, individual liberty, fiscal responsibility, and limited government intervention in the energy markets. They have been virtually lock stepped in agreement that these issues—and only these—were their primary focus.

Motivated largely by opposition to a radical energy transition that does not consider Africa's energy poverty needs and development, they built a solid and well-structured case against what they saw as a radical overreach by western governments. These values resonated powerfully with conservative whites and corporations in America and Europe who rallied support for the AEC, help sharpened their message and represent an agenda that any group could buy into. By sticking to these values, they avoided getting bogged down in arguments over more contentious issues that could divide, delay, or sidetrack their core base.

You need to watch how NJ Ayuk the Executive Chairman Keeps a clear and narrow focus and invites more people in and avoids alienating others over inevitable differences. By experimenting with this stripped-down approach, they have been able to avoid quibbles about top priorities and fast-forward to high-impact activities across Africa.

The AEC Built Its Muscle By Picking Fights It Could Win

While the rhetoric of the AEC favored sweeping Pan African change on how oil and gas industry is viewed and a rejection of western climate action, their actual achievements were huge, and they basically got the IEA and western governments to start listening to Africans. They got African Presidents and Ministers to be bold in their defence for oil and gas sector. They became the premier lobbying house for the oil and gas sector in Africa. They figured out where they could have an immediate impact and put their energies into small wins. Case in point, in 2021, Hyve group made a brutal and arrogant move of taking Africa Oil Week (AOW) to Dubai. The AEC saw an opportunity and produced a textbook rebuke of this British group. It recruited Blackwater's Erik Prinz, Robert Stryk Ryan Zinke (Trump's interior secretary) various American congressmen and former US Ambassadors to speak at its rival African Energy Week in Cape Town. They quietly built a relationship with the American Petroleum Institute and other US oil and gas groups and support came strong from the oil and gas companies like ExxonMobil, Total Energies, Chevron and many others. Since then, the Africa Oil Week brand by Hyve group has seen a gradual death with most of its staff defecting to the AEC or other companies. In 2023, sensing change the Biden administration deployed Joshua Volz, Deputy Assistant Secretary for Africa to attend the African Energy Week and meet with the African energy sector. American official Joseph McMonigle, Secretary General, International Energy Forum also gave a keynote speech at the event.

Small wins like African Energy Week or getting governments to approve projects for oil companies in a speedy format, gave the AEC the taste of victory and built momentum. And all the little victories tallied around Africa added up to a greater voice for the AEC. The AEC also scored strong victories across Africa for incentives to oil companies, getting them permits, license extensions, reduction in taxes, and passion oil friendly reforms.

Most organizations have broad, high-level goals, but it's worth remembering that every small victory can help pave the way in the direction you're going. In fact, you may want to purposefully pick a small, winnable fight, especially as you're getting started.

Climate Group Reaction

Climate activist have been stunned because they dismissed and overlooked the AEC. Climate activist and their allies ignore the AEC as it built a 4 million membership base something of a dream for any group. They decided to pummel the AEC and its leadership with a volley of attacks on the media then demonstrations at the AEC office and also in Cape Town. And yet from the blowback that erupted once the attacks started Africans rallied around the AEC and supported the AEC.  Climate activists were surprised that an oil lobby group in Africa was being seen as innocent civilian under assault by a drone western activist. Green groups and their negativity were self-destructive and made it difficult for them to push a green energy message in Africa which a continent that has great potential for renewables.

Only at the African Energy Week will you have a closing panel with Oil and Gas stalwarts like Bruno Jean-Richard Itoua, Minister of Hydrocarbons of the Republic of Congo, Heineken Lokpobiri, Minister of State for Petroleum Resources (Oil) of Nigeria, NJ Ayuk of the AEC, Florival Mucave, Executive Chairman of the Mozambique Oil & Gas Chamber, Eric Williams, Principal Consultant and President at Royal Triangle Energy Solutions inviting climate change zealots like David Le Page, Director-Coordinator at Fossil Free South Africa.

When I come to your events, I am booed and vilified, but here at the African Week, we welcome debates and diverse opinions and people even cheer for you when you make points, NJ Ayuk reminded David Le Page who looked flummoxed at the buoyant atmosphere and civility that greeted his presence.

“There is an amazing opportunity to transition as quickly as possible to renewable energy – if we can find the finance, and any new developments of oil and gas, no matter where they are developed in the world, risk the chance of pushing us past the point of stability, Le Page said.

Africa only accounts for 3% of global greenhouse gas emissions, NJ Ayuk schooled Le Page. “We need oil. We are not saying that we do not welcome solar, wind and renewable energy, but we understand the intermittent nature of these technologies. With oil and gas, you create a market where people do things for themselves rather than relying on others,” Ayuk said.

The Bottom Line: Restore Africans' Trust In Their Own Energy Sector.

So many people in the Africa and its energy sector feel isolated, frustrated, and powerless. Despite this, no matter how cynical or checked out they get, and no matter how divisive things seem, the vast majority of Africans still have faith in a foundational part of the oil and gas industry thanks to the AEC. Africa Oil Week has been sold to Paul Sinclair and he exited quietly to Ghana as the brand faces a natural death. Many observers wait to see what the AEC opinion on Hyve Group and Mining Indaba is. Will the AEC make a move?

Whatever you think of the AEC, one thing it did was restore trust in Africa's oil industry, showing that the grassroots—the public—can make a difference. Regular people who had long felt shut out of the process flexed their civic muscle in the AEC, and they saw quick and enormously satisfying results.

Distributed by APO Group on behalf of African Energy Chamber.

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13 November 2024

Presidency welcomes Quarterly Labour Force Survey

Location: News

Presidency welcomes Quarterly Labour Force Survey

Deputy Minister in the Presidency, Nonceba Mhlauli, has welcomed the results of the Quarterly Labour Force Survey for the third quarter of 2024. 

The results were released by Statistics South Africa (Stats SA) on Tuesday. 

The survey revealed a positive trend in the South African labour force, with a decline in the unemployment rate.

The official unemployment rate decreased to 32.1% in the third quarter of 2024, down from 33.5% in the previous quarter. 

The number of employed people increased by 294 000 to 16.9 million. The number of unemployed people decreased by 373 000 to 8.0 million. 

The results also indicate that the largest increases in employment were observed in Eastern Cape (83 000), Western Cape (75 000), Northwest (69 000) and Mpumalanga (49 000). 

Importantly, the total number of unemployed youth (age 15-34) decreased by 171 000 to 4.8 million, while employed youth recorded an increase of 66 000 to 5.8 million. 

As a result, youth unemployment rate decreased from 46.6% in the second quarter of 2024 to 45.5% in the third quarter of 2024. Community and social services, construction, and trade sectors recorded significant job growth.

"This marks a significant step forward for our economy. The decline in the unemployment rate is a testament to the hard work and dedication of our government working with all relevant stakeholders,” Mhlauli said. 

“The Economic Recovery and Reconstruction Plan and Operation Vulindlela initiated by President Ramaphosa have been instrumental in driving economic growth and job creation. We are pleased to see these efforts yielding positive results,” she said. 

Government says it will continue to monitor the labour market and provide the necessary support to Stats SA to continue releasing reliable statistical data for all. – SAnews.gov.za

Edwin
Wed, 11/13/2024 - 11:23

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12 November 2024

Multichoice Group Maintains Strategic Momentum Despite Macroeconomic Challenges

Location: Business

MultiChoice Group
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  • Unprecedented foreign exchange pressures and economic challenges in key African markets impacted earnings and dampens subscriber growth
  • On track to right-size cost base and grow new revenue streams to drive future growth as streaming gains traction at the expense of traditional pay-tv
  • Cost-cutting measures delivered R1.3bn in permanent savings, on track to reach increased full-year target of R2.5 billion
  • Showmax customer base grew 50% YoY as a leading streaming service in sub-Saharan Africa
  • Strong revenue growth in new products: DStv Steam +71%, DStv Internet +85%, DStv Insurance +31%, KingMakers +53%
  • Strong liquidity of R10 billion provides solid financial base to support growth
  • Negative equity position on track to be resolved in November 2024.

MultiChoice Group (MCG or The Group) (www.MultiChoice.com) continued to deliver exceptional video entertainment and execute on core strategic initiatives during the first six months ended 30 September 2024 (1H FY25). However, unprecedented foreign exchange volatility severely impacted the Group's interim financial results, while ongoing macroeconomic challenges weighed on customer growth and moderated overall performance.

Facing the most challenging operating conditions in almost 40 years and to generate desired returns, the Group has been proactive in its focus to ”right-size” the business for the current economic realities and industry changes. Although operating across Africa typically subjects the group to currency moves, abnormal currency weakness over the past 18 months have reduced the group's profits by close to R7 billion. Combined with the impact of a weak macro environment on consumers' disposable income and therefore on subscriber growth, it required the Group to fundamentally adjust its cost base - which is exactly what has been done. The normal cost savings program was accelerated, resulting in permanent savings of R1.3bn in over the past six months and an increased target of ZAR2.5bn for the full year.

“We are making good progress in addressing the technical insolvency that resulted from non-cash accounting entries at the end of the last financial year. We expect to return to a positive net equity position by the end of November this year, supported by a number of developments and initiatives. The Group's liquidity position remains strong, with over ZAR10bn in total available funds,” says Calvo Mawela, MultiChoice Group CEO.

The Group is also adjusting to global pay-TV challenges as streaming services, the rise of social media and changing consumer preference impact the traditional broadcast business. Showmax, which reported 50% growth YoY in its paying customer base, strategically positions the business to actively participate in the streaming revolution as it gains momentum across Africa. To create sufficient capacity and drive growth, the group stepped-up its investment in this business by an incremental ZAR1.6 billion during the interim period.

“We have successfully been implementing our strategy over the past few years, achieving key milestones such as our investment in KingMakers, returning the Rest of Africa business to profitability in FY23 and FY24, concluding the Showmax partnership with Comcast and investing in Moment. While we've made huge inroads to reduce our cost base, there's still more work to be done”.

“However, our focus extends beyond cost efficiency—we are equally committed to grow the business. We remain committed to driving new revenue streams and see significant medium to long-term opportunities in video entertainment, particularly in streaming, and in our adjacent new businesses,” says Mawela

The Group reported strong momentum in its new products and services, which all delivered robust   YoY revenue growth, i.e. DStv Stream +71%, DStv Internet +85% and DStv Insurance + 31%. KingMakers reported a healthy 27% increase in its online monthly active users in Nigeria and grew its revenue in Naira by 53%, while newly-launched SuperSportBet is showing good early traction in South Africa.

Financial Results Overview

Subscriber base: The pressure on the linear pay-TV subscriber base was lower than the previous six-months, reflecting a 5% decline (0.8m) compared to 6% reported (1.0m) in 2H FY24. This reflects an improving sequential trend. On a YoY basis, the linear subscriber base declined by 11% or 1.8m subscribers to 14.9m active subscribers, impacted by the challenging macroeconomic conditions that negatively impacted discretionary consumer spend.

Group revenues: Revenues increased by 4% YoY to ZAR25.4bn on an organic basis, due to disciplined inflationary pricing and revenue growth of new products. On a reported basis, revenues declined by 10%, impacted by foreign exchange pressures on the Rest of Africa business and a stronger Rand against the US Dollar.

Group trading profit: The Group's ongoing cost optimisation drive delivered ZAR1.3bn in savings, and together with other improvements in the business, it resulted in a 33% increase in trading profit before incorporating the Showmax costs. A ZAR1.6bn step-up in the investment behind Showmax to create capacity for growth, trimmed the organic trading profit to ZAR5.0, a decline of only 1% YoY. Foreign exchange losses in the Rest of Africa business amounting to ZAR2.3bn reduced reported trading profit to ZAR2.7bn.

Adjusted core headline earnings, the board's measure of the underlying performance of the business, amounted to ZAR7m, impacted by foreign exchange losses and the investment in Showmax.

Cash flow and liquidity: The Group free cash flow remained positive at ZAR0.6bn, with ZAR5.7bn retained in cash and cash equivalents. Despite the increase in net interest costs and a higher average debt balance, the Group remains well-positioned to navigate current challenges with access to ZAR4.4bn in undrawn facilities.

Operational update

General entertainment and sport

Delivering content that customers love remains the Group's core focus— whether it is the best of local or international general entertainment or the most exciting sport events.

In the past six months, the Group produced 2,763 hours of local content, bringing its local content library to 86,215 hours.

SuperSport reinforced its reputation as a global leader in sport broadcasting with extensive coverage of the Paris 2024 Olympic Games, EURO 2024, and the ICC T20 Men's World Cup. Over the past six months, SuperSport has broadcast 10,240 live events and provided a total of 21,540 hours of live coverage, a 22% increase YoY. 

SuperSport Schools doubled its user base and crossed a milestone of one million registered users on its app, delivering over 35,000 hours of content over the past six months.

Business segments

As a mature business, MultiChoice South Africa is focused on subscriber retention and reconnections, identifying remaining growth opportunities, as well as optimising processes and systems to improve customer experience and operational efficiency.

In the Rest of Africa business, the Group is implementing several initiatives to support improved financials, including price adjustments to counter the impact of inflation, renegotiating content deals where feasible, restructuring select packages to enhance ARPU, optimising the DTT network, and intensifying anti-piracy initiatives.

In FY25, Showmax is focussed on enhancing its content line-up, bedding down distribution partnerships, expanding payment channel integrations and refining its go-to-market strategy.

Irdeto delivered encouraging revenue growth, after securing a major customer in Asian and expanding managed services with a key customer in Australasia.

KingMakers continued to gain strong momentum in Nigeria, where BetKing Nigeria has secured the second position in the online betting market. SuperSportBet, the South African business launched late last year, is showing early signs of success and reported a remarkable tenfold increase in net gaming revenue over the past nine months.

Moment, now live in 40 African countries, has shown rapid growth since its launch last year, with total payment volumes (TPV) growing to USD242m. It is already processing almost 30% of the Group's payments.

Looking Ahead

The Group continues to invest in its long-term future, focusing on the following strategic priorities:

  • Improving profitability and cash generation in the South African business.
  • Streamlining the cost base in the Rest of Africa to return this business to profitability.
  • Investing in Showmax to establish it as the leading streaming platform on the continent.
  • Supporting KingMakers, Moment and DStv Insurance to drive scale.

By executing well on these objectives, the Group will be well positioned to deliver future growth and create value as Africa's leading video entertainment platform and most-loved storyteller.

Distributed by APO Group on behalf of MultiChoice Group.

Read moreMultichoice Group Maintains Strategic Momentum Despite Macroeconomic Challenges
12 November 2024

KZN commits to economic development, investment growth toward 2030

Location: News

KZN commits to economic development, investment growth toward 2030

KwaZulu-Natal Premier, Thamsanqa Ntuli, has underscored the commitment to economic development, trade, and investment growth toward 2030, aligned with the province's broader strategic priorities.

Ntuli reiterated the province’s commitment during the KwaZulu-Natal Trade and Investment Conference currently underway at the Inkosi Albert Luthuli International Convention Centre in Durban.

The two-day conference, which started on Monday, aims to promote, brand, and market KwaZulu-Natal as an investment destination, identify and develop investment opportunities, among others.

The conference brings together investors, government leaders, and industry captains to explore and amplify the province’s status as a top investment destination.

Delivering his keynote address on Monday, Ntuli highlighted that over the past decade, KwaZulu-Natal has attracted significant investments in key sectors, especially through developments at the Durban and Richards Bay Ports, two of Africa’s largest and busiest maritime hubs.

“Enhanced container capacity, automation, and infrastructure upgrades have strengthened KZN’s position as a regional logistics powerhouse. Similarly, the Dube Trade Port, adjacent to King Shaka International Airport, has drawn over R2 billion in investments, cementing its role in warehousing, logistics, and agriculture, including the Dube AgriZone, a major hub for export-focused agri-business,” Ntuli said.

Reflecting on the 2019 Provincial Trade and Investment Strategy’s achievements and areas for intensified effort, Ntuli said the strategy targeted R76 billion in new and expansionary investments by 2024. This is alongside the creation of approximately 68 000 jobs and an increase in the province’s national export value to R1.28 trillion.

While projections indicate that the targets may not be fully met by the year’s end, the Premier emphasised the need to redouble efforts in investment initiatives.

“The Richards Bay Industrial Development Zone (RBIDZ) has fuelled growth in heavy industry and energy, particularly in metals like aluminium and steel, generating jobs and boosting export potential.

“Renewable energy investments, particularly in biomass and solar, have diversified KZN’s energy landscape, with biofuel production from the sugarcane industry enhancing the province’s green economy credentials.”

Growth in the agricultural sector

The Premier also highlighted the province’s strong agricultural sector, which has attracted investments in agro-processing, and supporting industries including sugar refining, dairy processing, and timber.

The Premier said this growth is further supported by a thriving food and beverage industry, pharmaceutical, and packaging sectors, benefiting from proximity to key ports and an expanding consumer base.

Tourism

He said tourism also remains central to KZN’s economy, supported by new hospitality investments, including the reopening of the international Hilton Hotel and the Durban Beach promenade renewal.

READ | Mayor welcomes re-opening of the Hilton Hotel in Durban
 

Noting KZN’s absence from many long-haul tourist packages, Premier Ntuli stressed the importance of positioning the province as a key destination for international tourism.

Ntuli highlighted several strategic assets crucial to the province’s competitive advantage, and these include expanded port capacities, Special Economic Zones (SEZs) like Richards Bay and Dube TradePort, and streamlined regulatory and tax incentives to attract foreign and local investments.

The Premier urged stakeholders to seize the opportunities presented by the African Continental Free Trade Area (AfCFTA), which offers KZN unprecedented access to a $3.4 trillion market.

Partnerships 

The Premier also addressed issues in freight rail services and port bottlenecks, emphasising that public-private partnerships could unlock efficiencies.

He further called attention to KZN’s role in automotive manufacturing, underscoring opportunities in electric vehicle (EV) component production to tap into Africa’s growing EV market.

“Sustainable growth initiatives, including green hydrogen, biomass, and digital innovation, are essential for positioning KZN as a leader in the renewable and digital economies. Collaboration with local universities and technology firms is building a skilled workforce to support industries like IT, finance, and business outsourcing, further enhancing KZN’s role as a technology and logistics hub,” Ntuli said.

The Premier emphasised the importance of resilient infrastructure, including sustainable energy investments, and inclusive growth that extends to all municipalities, cities, and rural areas.

He issued a call to action for deeper engagement with rural and municipal stakeholders, ensuring these areas are active participants and beneficiaries in KZN’s economic growth. – SAnews.gov.za
 

 

GabiK
Tue, 11/12/2024 - 13:35

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12 November 2024

Official unemployment rate decreases

Location: News

Official unemployment rate decreases

The official unemployment rate has decreased by 1.4 percentage points from 33.5% in the second quarter of 2024 to 32.1% in the third quarter (Q3) of 2024.

This is according to the Statistics South Africa (Stats SA) Quarterly Labour Force Survey (QLFS) for the third quarter of 2024.

“There was an increase of 294 000 in the number of employed persons to 16.9 million in Q3: 2024, while there was a decrease of 373 000 in the number of unemployed persons to 8.0 million. This resulted in a decrease of 79 000 (down by 0.3%) in the labour force during the same period.

“Discouraged work-seekers increased by 160 000 (up by 5.0%), and the number of persons who were not economically active for reasons other than discouragement increased by 54 000 (up by 0.4%) between the second quarter and third quarter of 2024. This led to an increase of 214 000 in the number of the not economically active population to 16.5 million,” Stats SA said on Tuesday.

The above changes in employment and unemployment resulted in the official unemployment rate decreasing by 1.4 percentage points from 33.5% in the second quarter of 2024 to 32.1% in the third quarter of 2024. 

“The expanded unemployment rate in the third quarter of 2024 decreased by 0.7 of a percentage point to 41.9% when compared with the second quarter of 2024.

“The number of persons employed in the formal sector increased by 122 000 in Q3: 2024, and the informal sector employment increased by 165 000 over the same period,” Stats SA said.

The largest increases in employment were recorded  in community and social services (194 000), construction (176 000) and trade (109 000). 

Decreases in employment were recorded in finance (189 000), private households (32 000), manufacturing (20 000) and transport (18 000).

“The results also indicate that the largest increases in employment were observed in the Eastern Cape (83 000), Western Cape (75 000), North West (69 000) and Mpumalanga (49 000), while decreases were only observed in Gauteng (66 000) and KwaZulu-Natal (2 000).

“The youth (15 to 34 years) remain vulnerable in the labour market. The third quarter of 2024 results show that the total number of unemployed youth decreased by 171 000 to 4.8 million, while employed youth recorded an increase of 66 000 to 5.8 million. 

“As a result, youth unemployment rate decreased from 46.6% in the second quarter of 2024 to 45.5% in the third quarter of 2024,” Stats SA said. - SAnews.gov.za

nosihle
Tue, 11/12/2024 - 12:40

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Read moreOfficial unemployment rate decreases
11 November 2024

Youth could be Africa’s most valuable resource, says Minister

Location: News

Youth could be Africa’s most valuable resource, says Minister

Africa’s vast youth population could be the continent’s most valuable asset, potentially transforming it into a global leader in innovation, industry and economic development.

With over 60% of Africa’s population under the age of 25, Basic Education Minister Siviwe Gwarube said the continent stood on the cusp of a youth-driven growth wave that could fuel its economies and contribute to global prosperity. 

The realisation of this immense potential depends on one fundamental factor - which is education.

“If we are to transform our continent’s demographic advantage into a true growth engine, we must ensure that Africa’s young people are equipped with the skills, knowledge, and abilities they need to thrive in a rapidly evolving global economy. 

“This is both our challenge and our opportunity. Africa’s youth have the potential to form the largest working-age population in the world by the year 2063, but that will benefit the continent only if they are adequately educated and skilled to meet the demands of tomorrow’s industries,” Gwarube said. 

The Minister was addressing the Partnerships for Education Business Breakfast held at the Johannesburg Council for The Disabled in Lenasia on Monday. 

The Partnerships for Education Business Breakfast is designed to foster meaningful dialogue and establish partnerships to alleviate budgetary constraints in the education sector. 

The event convened 100 business leaders from the private sector to discuss collaborative strategies to crowd in private sector resources to improve educational outcomes in South Africa. 

The breakfast included presentations, panel discussions, and networking opportunities for leaders committed to investing in education as a foundation for economic growth and social progress.

Gwarube praised the potential of Africa’s youth to be the productivity drivers and innovators of tomorrow.

The Minister added that the youth represent Africa's future, as a driver of global progress and they are already demonstrating remarkable resilience and adaptability.

She said the young Africans are technologically savvy, innovative, and highly motivated, and they bring energy, optimism, and creative problem-solving to every sector they touch. 

“Even when stats show that ours is a continent with the lowest levels of connectivity, young people are leveraging digital technology, they are leading the thinking on renewable energy out of sheer necessity of energy poverty, and are leading social entrepreneurship to bridge the gap in what economists refer to as the bottom of the pyramid consumer market. Young Africans are pushing boundaries and setting trends,” the Minister said. – SAnews.gov.za

 

DikelediM
Mon, 11/11/2024 - 14:36

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Read moreYouth could be Africa’s most valuable resource, says Minister
11 November 2024

Call to avoid buying fake versions of Ozempic and Mounjaro

Location: News

Call to avoid buying fake versions of Ozempic and Mounjaro

The South African Health Products Regulatory Authority (SAHPRA) has expressed concern at the increasing presence of counterfeit Glucagon-like Peptide (GLP-1) products, such as Ozempic, on the local market.

According to SAHPRA, GLP-1-containing products, like Ozempic, which help lower blood sugar levels and promote weight loss, are being made available to the public through websites, social media, and other informal channels.

“These pose a health risk to the public. SAHPRA cautions the public to not purchase and/or consume such products as their safety, efficacy, and quality have not been assessed.”

SAHPRA has reported an increase in suspected counterfeit Ozempic, chemically known as semaglutide, which is one of the registered products containing GLP-1 agonists from Novo Nordisk. 

According to the watchdog, Ozempic in South Africa is registered under two presentations of pre-filled injectable pens, namely 0.25 mg and 0.5 mg/dose pen and 1 mg/dose pen.

“Ozempic is registered in South Africa for the treatment of adults with type 2 diabetes to reduce blood sugar levels for the treatment of adults with insufficiently controlled type 2 diabetes mellitus as an adjunct to diet and exercise.”

It is also approved to reduce the risk of major cardiovascular events, such as heart attack, stroke, or death, in adults with type 2 diabetes who have known heart disease.

“Ozempic is not registered in South Africa for weight management,” said the authority.

Mounjaro (tirzepatide), developed by Eli Lilly and Company, is also gaining attention in South Africa. It is available in pre-filled pens that come in a single dosage, containing either 2.5 mg, 5 mg, 7.5 mg, 10 mg, 12.5 mg, or 15 mg in a 0.5 ml solution for injection.

Mounjaro is indicated for treating type 2 diabetes mellitus but has not yet been imported into and placed on the market in South Africa through Eli Lilly and Company distribution channels. 

Just like Ozempic, the watchdog stated that Mounjaro is not approved in South Africa for weight management.

“The complexity of compounding GLP-1 agonists, which are sterile medicines containing complex active substances poses a public health and safety risk.

“The risk associated with compounded medicines containing GLP-1 agonists are posed by the absence of the evaluation of these medicines by SAHPRA and the unknown nature and safety of ingredients used in compounding.”

Compounded products that claim to contain semaglutide have not been verified or evaluated by SAHPRA to determine if the active pharmaceutical ingredient is identical to the registered one, as required by the Medicines Act.

“Therefore, it maybe substandard and pose a risk to those using them,” said SAHPRA, adding  that the medicine using an active ingredient that is not contained in a product registered with SAHPRA is illegal in terms of the requirements of the Medicines and Related Substances Act.

“The public is urged to purchase only SAHPRA-registered products containing GLP-1 agonists, considering these risks.”

According to Section 29 of the Medicines and Related Substances Act, a person who commits an offence will be held criminally liable, and applicable penalties will be enforced.

SAHPRA CEO, Dr Boitumelo Semete-Makokotlela, stressed that safeguarding the well-being of the South African public remains a primary concern for the regulatory authority.

“SAHPRA is monitoring the supply chain as well as the online platforms for unregistered, substandard, and falsified medicines containing or claiming to contain semaglutide. We are also investigating any contraventions relating to the Medicines and Related Substances,” said Dr Semete-Makokotlela.

The public is urged to report any suspected products falsely claiming to be sold as Ozempic or Mounjaro.

Citizens are urged to report through these whistle-blower platforms, SAHPRA’s 24-hour hotline 0800 204 307, or via https://bit.ly/3nrku5t. – SAnews.gov.za
 

 

Gabisile
Mon, 11/11/2024 - 13:27

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Read moreCall to avoid buying fake versions of Ozempic and Mounjaro
11 November 2024

Mining industry a “sunrise industry”

Location: News

Mining industry a “sunrise industry”

Mineral and Petroleum Resources Minister Gwede Mantashe has described the mining industry as a “sunrise industry” that is diversifying from bygone eras.

The Minister said this during his address at the Mintek @90 Conference held in Sandton on Monday.

Mintek is, among other things, the national research and development entity specifically focused on mining and metallurgy.

“Mintek continues to focus on conducting research that will not only have impactful outcomes for the industry but drive technological innovations that will have a positive societal impact, stimulate economic growth, reduce unemployment and inequality, as well as eradicate poverty in South Africa.

“Thanks to the work that is being pioneered by the entity, in collaboration with the industry and various research institutions, that we can now confidently describe the South African mining industry as a sunrise industry that is diversifying from the gold mining era to a diversified industry with the world’s largest reserves of platinum group metals [PGM], manganese, chrome, coal, vanadium, and rare earth minerals,” Mantashe said.

The Minister highlighted that as the need for transition towards renewable energy sources builds up steam, so will the need for PGM rise and this is where Mintek can become a “significant player” on a national, continental and global stage. 

“The need for the world to transition from high carbon emissions to low carbon emissions has increased the demand for ‘green’ minerals. As the world’s largest producer of manganese and chrome, the South African manganese and chrome sectors are equally poised to play a significant role in the global automotive and construction industries given the expected demand for green technologies and electric vehicles.

“As we continue to engage the manganese and chrome producers on mineral value-addition close to the point of production, given its existing pioneering research capabilities, Mintek can be a significant player in the global clean energy economy.

“While there is no universal consensus on the “critical minerals”, the approach by Mintek in developing South Africa’s critical minerals strategy is poised to guide not only South Africa’s, but Africa’s responsible exploration, processing, and exporting of these essential resources,” he said.

Turning to the challenge of illegal mining in the country, Mantashe revealed that Mintek is playing a role in “tackling ownerless and derelict mines by closing the holes that were left behind, thereby help in combating illegal mining and trading in ores”.

He added that the entity is also engaged in work to improving mining processes and efficiency.

“Although funding for this project is not sufficient, there is visible progress which aligns with the government's commitment to addressing environmental sustainability and fostering sustainable growth within the industry.

“Furthermore, Mintek continues to lead the way in driving technological innovations that enhance metal recovery from both conventional and emerging processes. 

“Its focus on continually improving these processes and ensuring the efficient utilisation of energy and water resources by developing technologies to minimise environmental pollution, reflect government’s commitment to safe reclamation of waste, and further promotes broader environmental sustainability within the sector,” the Minister said.

Mantashe emphasised that the success of South Africa’s mining sector – which has contributed at least 6.3% to the nominal Gross Domestic Product this year – rests on not only on research and development but also on collaboration between government, the private sector and academia.

“These collaborations are essential for driving progress and fostering innovation, thereby enable us to tackle the complex challenges we face. By working together, we can leverage diverse expertise and resources, thus ensuring that our collective efforts are aligned with the industry's pressing needs.

“Such synergy not only enhances our ability to respond effectively to market demands but also promotes sustainable practices that benefit the economy and the environment.

“For the next 90 years, Mintek is poised to continue its trajectory of innovation and excellence in mineral technology. The ongoing commitment to advancing techniques in mineral extraction, refining, and processing will be pivotal in addressing both the current and emerging challenges in the industry,” Mantashe said. – SAnews.gov.za

 

NeoB
Mon, 11/11/2024 - 11:57

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Read moreMining industry a “sunrise industry”
11 November 2024

TNPA appointed Zutari for implementation plan for the Port of Durban

Location: News

TNPA appointed Zutari for implementation plan for the Port of Durban

The Transnet National Ports Authority (TNPA) has appointed Zutari, a leading infrastructure and advisory firm, as the transaction advisor to validate the Island View Precinct Strategy and implementation plan for the Port of Durban. 

This appointment is a pivotal move aimed at transforming the liquid bulk sector in South Africa while ensuring security of supply.

“The Island View Strategy, originally approved in 2019, is set to undergo a comprehensive revision to ensure it remains relevant in today’s rapidly evolving landscape. 

“Zutari’s role will be to analyse current market trends, review existing strategies and develop a revised comprehensive plan aimed at enhancing the sector's sustainability and operational efficiency. This initiative aligns with TNPA's commitment to implementing global best practices,” it said in a statement.

The Port of Durban’s Island View precinct is a South African national key point, managing approximately 74% of South Africa's liquid bulk imports. 

With 12 terminal operators over a 1 545 000 m² area, it handles a variety of products, including petroleum, chemicals and agricultural goods. As part of the country’s transition to sustainable energy, the port will also facilitate the handling of liquefied petroleum gas (LPG) and other cleaner energy sources.

Zutari’s role includes ensuring that the strategy benefits both TNPA and the liquid bulk industry while safeguarding supply chain integrity, especially in this major petrochemical hub. 

TNPA is committed to ensuring security of supply, improved terminal operational efficiencies, operational continuity, risk management and job preservation with the precinct supporting nearly 2 000 direct and indirect jobs as of 2022.

Mpumi Dweba-Kwetana, Acting TNPA Managing Executive for the Eastern Region, said the Island View Strategy aims to accelerate transformation, ensure a reliable supply of liquid bulk commodities, and increase throughput efficiency. 

“The appointment of Zutari is a significant milestone towards achieving these goals. Our collaborative engagement with stakeholders, including Fuels Industry Association of South Africa (formerly known as SAPIA), the National Energy Regulator of South Africa (NERSA), the Chemical and Allied Industries’ Association (CAIA), and terminal operators, has been crucial in building confidence and identifying areas for cooperation in safeguarding the liquid bulk sector,” said Dweba-Kwetana. 

Transnet National Ports Authority is responsible for the safe, effective, and efficient economic functioning of the national port system, which it manages in a landlord capacity. It provides port infrastructure and marine services at the eight commercial seaports in South Africa – Richards Bay, Durban, Saldanha, Cape Town, Port Elizabeth, East London, Mossel Bay and Ngqura. 

It operates within a legislative and regulatory environment and is governed by the National Ports Act (Act No. 12 of 2005). 

For more information visit www.transnetnationalportsauthority.net – SAnews.gov.za

Edwin
Mon, 11/11/2024 - 10:43

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Read moreTNPA appointed Zutari for implementation plan for the Port of Durban
11 November 2024

COP29 expected finalise financing model for developing economies

Location: News

COP29 expected finalise financing model for developing economies

With the United Nations Framework Convention on Climate Change (COP29) taking place this week, South Africa expects the COP29 Presidency to enhance efforts to finalise the New Collective Quantified Goal on Finance (NCQG), which is a matter of great importance for developing economies.

“As I have said before, the current financing mechanisms have proven insufficient in scale and effectiveness, highlighting the urgency for a new financing model,” Minister of Forestry, Fisheries and the Environment Dr Dion George said on Sunday.

The Minister expressed confidence in the South African delegation who will be participating in the COP29 as they departed to attend the conference.

COP29 kicks off on Monday, 11 November and will conclude on Friday, 22 November in Baku, in Azerbaijan.

George will join the South African team in Baku as head of the delegation this week.

READ | SA prepares for UNFCCC COP29

COP29 is expected to focus on intensifying efforts to quantify resources for developing countries to meet ambitious climate targets under this year’s theme of “In Solidarity for a Green World.”

The climate change conference takes place at a critical moment of intensifying geopolitical tensions, heightened trade protectionist measures, and divisive approaches on issues such as carbon border adjustments.

COP29 is expected to build on strong leadership and outcomes from Dubai COP28.

The incoming COP29 Presidency has set ambitious priorities and the two-day summit at the start of the conference will get proceedings underway, by bringing together global leaders to raise awareness and accelerate climate action.

“Another key issue for South Africa and other developing economy countries is the adoption of Article 6.4 rules that will allow the immediate implementation of carbon market measures and unlocking new projects that contribute to economic growth, decarbonization of value chains and job creation.

“By establishing transparent and robust mechanisms under Article 6, we can enable countries to work together more effectively,” the Minister said.

George will be co-chairing discussions on mitigation together with his Norwegian counterpart and in their consultations, the Ministerial Pair will be engaging with parties and all negotiating groups to conduct informal consultations on concrete issues related to overcoming barriers and complexities in implementing countries’ Nationally Determined Contributions (NDC) as well as the necessary means of implementation to achieve the 1.5-degree goal and net-zero decarbonisation in 2050.

The NDC cover adaptation, mitigation as well as finance and investment requirements and is based on equity.

George, and his counterpart from Norway, Minister of Climate and Environment Tore Onshuus Sandvik, have been appointed to steer informal consultations on mitigation before and during the COP29.

The Ministerial Pair was appointed by COP29 President-designate and Minister of Ecology and Natural Resources in the Republic of Azerbaijan, Mukhtar Babayev.

READ | SA, Norway Ministers to drive talks on climate change mitigation

“I have full confidence in our negotiating team, and I encourage all South Africans to follow proceedings on all online platforms. I look forward to joining the team shortly,” George said.
Once again, South Africa will be hosting a South African exhibition pavilion at the climate change talks in partnership with the National Business Initiative (NBI).

During the conference a number of dialogues and side events are to be hosted at the Pavilion to showcase the work being done by various South African organisations to raise awareness, adapt to, and mitigate, climate change. -SAnews.gov.za
 

nosihle
Mon, 11/11/2024 - 09:23

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Read moreCOP29 expected finalise financing model for developing economies
10 November 2024

SANPC Launches Global Investor Roadshow

Location: News
African Energy Chamber

The newly-sanctioned South African National Petroleum Company (SANPC) kicked off its global investor roadshow at African Energy Week: Invest in African Energies on Thursday, inviting investors and governments to engage with South Africa's oil and gas prospects, while showcasing strategic plans for the new entity.

Speaking on the rationale behind the creation of the SANPC, South Africa's Minister of Mineral and Petroleum Resources, Gwede Mantashe, emphasized the need to rationalize and consolidate the country's many state-owned enterprises. The aim is to maximize efficiencies, streamline the sector, reduce costs and prioritize petroleum development as a catalyst for economic growth.

“The focus is to drive economic growth and development. We want it to grow – we want to get into fossil fuels. We must do it. [We want to] improve operational efficiencies, scale of market and market share,” said Minister Mantashe.

The SANPC operates under a broad mandate to acquire, generate, manufacture, market and distribute all forms of energy, including crude oil, natural gas, coal, renewable energy and biofuels. South Africa's extensive coal bed methane and shale gas resources were highlighted, including the gas-rich Karoo Basin and the Saldanha Bay gas-to-power project. The country also benefits from deep-sea ports, robust infrastructure and a favorable regulatory framework, with the potential to create synergies with nearby oil and gas producers such as Mozambique and Angola.

“We need to start thinking as a region instead of as countries,” said Godfrey Moagi, CEO of SANPC.

South Africa's refining capabilities were also emphasized as a critical priority, with enhancing the country's liquid fuels security identified as a matter of national security and strategic interest. The SANPC stated that in 2024, South Africa is expected to import 70% of its manufactured liquid fuel needs.

“This has put the country at risk, and we are dealing with issues of security of supply. We need to prioritize commercial sustainability for the entire CEF Group to drive economic recovery,” said Moagi. “In South Africa, we import $2.5 billion of crude oil and products. The SANPC is going to change this, so that South Africa looks differently.”

“[Reviving] refining capacity reduces the risk on petroleum supply. We must cushion it with our own refining capacity,” said Minister Mantashe.

Following its formation in 2024, the SANPC will enter its second phase of operationalization in 2025, which includes forming strategic partnerships and alliances, operationalizing its assets, and optimizing its business and service model. Starting in 2026, the company plans to enter its growth phase, deploying an integrated “New Energy” growth strategy, developing and optimizing assets, expanding its portfolio, diversifying revenue streams and advancing its technology and innovation strategy.

The SANPC will host a series of upcoming roadshows spanning Africa, Europe and the Middle East, organized by Energy Capital & Power.

Distributed by APO Group on behalf of African Energy Chamber.

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