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Pretoria, South Africa – Aiming to equip job seekers and aspiring entrepreneurs with the skills they need to succeed in today’s competitive market, a highly anticipated workshop is set to take place on the 18th and 19th of October 2024 at 24 Skipper Avenue, Akasia, Pretoria North. Organized by Noble Wealth Creation Group, this event …
In the post-pandemic world, South Africa’s business landscape is undergoing a transformative shift, particularly in the realm of international exports. Reshaped consumer behaviour opened new avenues for South African businesses to reach global markets, and many South African brands are embracing international shipping as a critical component of their growth strategy. Central to this success …
In a concerted effort to tackle the growing challenges of State-Owned Enterprise (SOE) debt in Africa, the United Nations Economic Commission for Africa (ECA) hosted a high-level workshop in Pretoria from 21 to 23 August 2024. The event brought together finance policymakers, industry experts, and international organizations to share best practices and develop strategic solutions for effective SOE debt management across the continent.
The workshop brought together officials from the Ministries of Finance of Cameroon, Ethiopia, Ghana, Nigeria, South Africa, and Zambia, along with representatives from UNDP, the African Forum and Network on Debt and Development, and major state-owned entities. The focus was on enhancing governance frameworks, improving financial oversight, and exploring privatization options.
Participants discussed the critical role of SOEs in driving national development, acknowledging that while these entities have the potential to bolster economic growth and address market deficiencies, they also pose significant risks to government finances. The workshop highlighted that poorly managed SOEs can lead to severe financial burdens, potentially destabilizing national budgets and contributing to the deterioration of sovereign credit ratings.
“In many African countries, SOEs play a vital socio-economic role. This workshop comes at a critical time for Africa's development, with both SOE and government finances under pressure amid cascading crises and multiple shocks,” said Zuzana Schwidrowski, Director of the Macroeconomics, Finance, and Governance Division (MFGD) at ECA, in her opening remarks.
Ms Schwidrowski noted that “critical public services tend to deteriorate alongside SOEs' financial difficulties, leading to a downward spiral of weakened service delivery and growth.” That is why ECA organized this capacity-building workshop “to develop practical solutions and options for Africa,” she added.
The discussions also underscored the importance of corporate governance, risk management, and internal oversight as drivers of reform. Participants shared successful approaches to SOE debt management and identified key barriers, including challenges related to mandate delivery and the intricate links between sovereign and SOE credit ratings.
Lee Everts, Chief of the Macroeconomic Analysis Section in MFGD, emphasized the need for a multifaceted approach to address the rising SOE debt. “Financial restructuring, governance and operational improvements, and in some cases, privatization or asset sales, are essential steps to mitigate the risks posed by SOE debt,” she said.
The workshop, organized by ECA's Macroeconomics, Finance, and Governance Division in collaboration with its Sub-Regional Office for Southern Africa, is part of a broader series of capacity-building initiatives aimed at strengthening public debt management across Africa. ECA remains committed to supporting African nations in implementing innovative and robust solutions to the persistent challenges posed by SOE debt and related government liabilities.
Distributed by APO Group on behalf of United Nations Economic Commission for Africa (ECA).
Interventions to make housing affordable
Human Settlements Minister, Mmamoloko Kubayi, says the department is forging ahead to implement several interventions to redress the unaffordability of houses for the missing middle.
Announcing government plans and developments in the human settlements sector at a media briefing held in Pretoria on Monday, Kubayi said the department has recognised that the gap market or missing middle continues to face challenges in accessing adequate affordable housing.
“These are the households earning between R3 501 and R22 000 per month, who neither qualify for mortgage finance nor fully subsidised houses,” Kubayi said.
WATCH | Minister Kubayi briefs media
Kubayi said the interventions include First Home Finance, social housing and the Rapid Land Release Programme to encourage people to build for themselves.
Government will also develop a policy to encourage employers to provide housing to their employees and housing access for government employees through the Government Employees Housing Scheme. Government will also strengthen partnerships with stakeholders to collaboratively deliver housing solutions.
Progress
The Minister highlighted that since April 2023, First Home Finance (FHF) has been providing grants for non-mortgage products, and the National Housing Finance Corporation (NHFC) has seen a significant increase in applications from individuals who want government assistance to buy their first properties through FHF.
“Since April 2024, the NHFC has approved about 1 151 of the non-mortgage subsidies at a value close to R160 million. The majority of these are from KwaZulu-Natal (283), Gauteng (160) and Limpopo (263),” Kubayi said.
Kubayi added that the NHFC action plan has identified potential partners who can partner with the corporation as subsidy origination and distribution channels to support the non-mortgage housing programme. This has also been warmly welcomed by traditional authorities, mainly in the Free State, Limpopo, and KwaZulu-Natal.
She said the department will soon launch its first rural First Home Finance housing project at Inanda, north of Durban, KwaZulu-Natal.
Partnerships
“Over the next five years, the NHFC will also intensify its working relationships with traditional leaders to increase the delivery of affordable housing in rural areas. Another category of partners in the action plan is of building merchants and employers keen on assisting their employees to access adequate housing.
“The recently unveiled strategic partnership between the NHFC with Cashbuild and Capitec for the Zakhelikhaya initiative is a great step towards strengthening partnerships with this category. Cashbuild formulated this programme so that its staff and clients could build their own homes using the First Home Finance grant and a purpose loan from Capitec,” Kubayi highlighted.
By partnering with NHFC, the minister said the programme has been widened to include the broader Cashbuild clientele that qualifies for the subsidy.
She explained that the NHFC and Cashbuild will collaborate in assisting Zakhelikhaya customers to apply for and access First Home Finance subsidies.
“Capitec has partnered with Cashbuild to provide purpose loans to the Zakhelikhaya Project, meaning that the grant will get to its intended beneficiaries a lot quicker than has been the case with just the mortgage products.
“The partnership will also facilitate payment of subsidies to assist Zakhelikhaya clients to buy material and be assisted to build their homes.”
Transfer of old government property
The Minister and Members of the Executive Council (MINMEC) responsible for Human Settlements took a decision earlier this year, to have the old government housing stock to be given back to municipalities or to the people who have been staying there for a long time, by 31 March 2025.
Kubayi said people who have been occupying these houses for more than 20 years will be given the preference to take ownership.
She said all provinces have commenced their work to ensure that they meet the deadline of 31 March 2025.
“All provinces have met municipalities to agree on the transfer of properties to beneficiaries and devolution of vacant land to municipalities. Provinces will continue to engage individual beneficiaries to conclude transfer processes, and we will be monitoring the progress,” Kubayi said.
Once completed, the transfer will economically empower beneficiaries who mostly fall within the gap market. – SAnews.gov.za
GabiK
Mon, 08/26/2024 - 15:02
SA-China State Visit to focus on strengthening economic relations
With China being South Africa’s largest trading partner, the upcoming State Visit to the People’s Republic of China by President Cyril Ramaphosa is expected to fortify the economic relationship between the two countries.
In 2023, South Africa’s bilateral trade reached $34 billion, with exports totalling $12 billion and imports at $22 billion.
“China’s substantial contribution to our investment drive has made it the largest source of foreign direct investment for South Africa. We anticipate concluding several important agreements during this State Visit, including a Framework Agreement on Development Cooperation, addressing the trade balance, and expanding market access,” spokesperson for the Minister of International Relations and Cooperation, Chrispin Phiri, said on Monday in Pretoria.
WATCH |
Phiri said these agreements will strengthen South Africa’s Comprehensive Strategic Partnership with China and elevate regional and multilateral cooperation to support global peace and security.
The President will travel of China from 2 - 5 September 2024 to further strengthen diplomatic and trade relations between the two countries.
“This visit is a testament to the robust relations between our two nations, built on mutual respect and benefit. It follows President Xi Jinping’s fourth State Visit to South Africa, further strengthening our ties.
“The primary focus of this visit will be to fortify our economic relationship. South Africa’s largest trading partner, China, has played a pivotal role in our economy.
“Our relations with China are central to realising our developmental agenda and efforts to implement the National Development Plan. This visit provides an opportunity to review progress on existing trade and cooperation, and to expedite and finalise new areas of collaboration,” he said.
While in China, the President will lead the South African delegation to the Forum on China-Africa Cooperation (FOCAC) Summit in Beijing from 4 to 5 September 2024.
The Summit, themed, 'Joining Hands to Advance Modernisation and Build a High-Level China-Africa Community with a Shared Future', will further South Africa’s cooperation under the Belt-and-Road Initiative, the Global Development Initiative, the Global Security Initiative, and the Global Civilisation Initiative (“Three Initiatives”).
SA-Japan developments
Meanwhile, Minister of International Relations and Cooperation Ronald Lamola successfully concluded his working visit to Japan, which coincided with the Tokyo International Conference on African Development (TICAD) Ministerial Meeting on 24-25 August 2024 in Tokyo.
Launched in 1993, TICAD is the first international developmental partnership with Africa. It advocates for Africa’s development agenda and strengthens economic cooperation between Africa and Japan.
The Minister led South Africa’s delegation at the Ministerial Meeting, held under the theme, ‘Realising a Sustainable Future'.
The Government of Japan convened this significant gathering in collaboration with the United Nations Development Programme (UNDP), the Office of the Special Adviser on Africa (UNOSAA), the World Bank, and the African Union (AU) Commission.
“The Minister’s visit to Japan coincided with Toyota’s announcement of a strategic investment of R 1.2 billion in the South African automotive industry and our first consignment of avocados to Japan. This marks a significant moment for our agricultural sector in the East Asia market.
“These important economic developments will go a long way to drive faster industrialisation, job creation, and transformation implementation. The Minister reiterated that South Africa enjoys a significant relationship with Japan, underpinned by a fair economic partnership that contributes significantly to our nation’s economic development and people-to-people relations,” Phiri said. - SAnews.gov.za
nosihle
Mon, 08/26/2024 - 15:07
The annual Waterblommetjie Festival returns on Saturday 7 September. Windmeul Kelder and Rhebokskloof Estate outside Paarl will host a fun-filled day of festivities suitable for the whole family. The waterblommetjie (also known as Cape Pond Weed, Water Hawthorne, Vleikos, Aponogeton distachyos (Aponogetonaceae) is an indigenous delicacy that is only found in the Boland area of …
Government activities for the week 26 - 30 August 2024
On Monday, 26 August, Minister of Human Settlements Mmamoloko Kubayi briefs media on plans to assist the struggling gap market to access affordable housing at Ronnie Mamoepa Media Centre.
Also on Monday, the Minister of Science, Technology and Innovation Professor Blade Nzimande will open the 7th BIO Africa Convention.
On Tuesday, 27 August, Eastern Cape Rural Development and Agrarian Reform MEC Nonceba Kontsiwe will hold a media briefing to provide details of the damage caused by the recent veld fires in the province.
On Wednesday, 28 August, there are no confirmed events.
Thursday, 29 August, is the start of National Arbor Week.
On Friday, 30 August, there are no confirmed events.
Janine
Mon, 08/26/2024 - 11:40
Municipalities must be at "driving seat" of clean energy
Municipalities are at the centre of government’s efforts to move towards clean energy and fulfil the country’s commitment to global climate change.
This is according to President Cyril Ramaphosa, who was addressing the opening ceremony of the Municipal Just Energy Transition (JET) Conference held in Johannesburg on Monday.
The President highlighted that South Africa’s 257 metropolitan, district and local municipalities “own and operate approximately half of South Africa’s electricity distribution grid and facilitate universal access to electricity”.
“One hundred and sixty five municipalities are electricity service providers. Through the Integrated National Electrification Programme grant, municipalities are responsible for addressing the electrification backlog.
“Municipalities therefore need to be in the driving seat when it comes to providing clean, affordable energy to communities, businesses and industry,” the President highlighted.
WATCH |
In this regard, South Africa’s Cabinet approved the JET Investment Plan, which has a dedicated municipal portfolio roadmap with three areas of focus.
These are:
On the first area of focus, the President said the recent promulgation of the Electricity Regulation Amendment “paves the way for a new, competitive electricity market.
“The reforms contained in the law must help to speed up decarbonisation. But more than that, they must result in a better deal for households and businesses.
“The national climate change effort must not come at a higher cost for electricity users. South African households, like many around the world, are battling with the rising cost of living, including the cost of energy.
“We must therefore ensure that the energy transition does not contribute to energy poverty. It must not deepen inequality,” President Ramaphosa insisted.
In terms of sustainable financing for electricity infrastructure, he said municipal grid system needs to be upgraded, modernised and extended.
“The energy generation of the future requires systems that are fundamentally different in terms of design, capability and operation.
“Smart metering will have to accommodate the increased penetration of renewable energy at different scales. It will need to facilitate wheeling and feed-in by small-scale embedded generation.
“Massive investment is needed to ensure optimal grid control, safety and energy storage. This investment will need to draw on both public and private sources of capital,” he said.
Turning to how the capacity of municipalities can be strengthened, President Ramaphosa said extensive training and upskilling of officials will be the order of the day.
“New systems will be required to identify human resource, technical capacity and other needs within municipalities, and plan and budget accordingly.
“Municipalities will need to adopt best practice when it comes to the design and implementation of programmes and projects,” he said.
The President told conference delegates that the country’s drive towards a lower carbon intensive economy does not only reside with government.
“A just energy transition is about promoting economic diversification, transformation and industrialisation in the renewable energy sector that empowers workers, marginalised communities and black businesses.
“The achievement of defined just energy transition outcomes at a municipal level requires supportive policies and leadership, good governance and a coordinated effort among all relevant institutions.
“As government, business, labour and civil society, let us deepen our collaboration to achieve an energy future that is secure and sustainable for all,” President Ramaphosa said.
READ | SA committed to meeting climate change undertakings
– SAnews.gov.za
NeoB
Mon, 08/26/2024 - 11:13
Get ready for an electrifying return of the Kat Gilardi and Manila von Teez Drag Show at Bay Harbour Market on 20 August 2024! Fresh off their appearance on the Showmax series Beaulah: Queens van die Kaap. Kat and Manila’s preparation for this show is nothing short of meticulous. Every element, from the song choices …
Get ready to groove to the rhythm of spring and indulge in a culinary and shopping adventure like no other at Rosebank Mall’s Spring Street Feast on Saturday, 7 September 2024. From 10h00 to 19h00, the vibrant space adjoining the mall on Bath Avenue will come alive with the sights, sounds, and flavours of this …
International Relations and Cooperation Minister, Ronald Lamola, is in Japan to attend the Tokyo International Conference on African Development (TICAD) Ministerial Meeting. Ahead of the opening ceremony of the TICAD Ministerial meeting, Minister Lamola had a business roundtable discussion with the Japan External Trade Organisation (JETRO) to further strengthen economic cooperation. Among other matters, the meeting noted two critical economic developments. Following successful diplomatic negotiations, an agreement between the two countries was signed earlier this year, establishing a protocol for the export of South African avocados to Japan. The first consignment arrived in Japan this week, coinciding with Minister Lamola's visit.
This significant milestone marks the beginning of a new market opening for South African avocados in the East. The agreed protocol requires a cold treatment of 2°C for 19 days. South African research has shown that Hass avocados can withstand this treatment, with successful shipments to the UK under the same regime.
South Africa's economic diplomacy efforts continue to yield results in 2024, as evidenced by breakthroughs for our avocado industry, with the opening of new big markets in Japan, China, and India.
Speaking to Toyota Executives attending the JETRO interaction, Minister Lamola acknowledged Toyota's announcement this week of a strategic investment of R 1.2 billion in the South African automotive industry, which is expected to drive faster implementation of industrialisation, job creation, and transformation.
Minister Lamola also had the opportunity to meet with his counterpart, the Minister of Foreign Affairs of Japan, Ms. Yōko Kamikawa. Minister Lamola reiterated that South Africa enjoys a significant relationship with Japan, underpinned by a fair economic partnership that contributes significantly to our nation's economic development and people-to-people relations.
Distributed by APO Group on behalf of Republic of South Africa: Department of International Relations and Cooperation.
Eskom launches pilot electric vehicle charging infrastructure in Midrand
Eskom has officially launched its electric vehicle (EV) charging infrastructure at the Eskom Academy of Learning (EAL) in Midrand, Gauteng.
“This milestone marks a significant step in Eskom Distribution’s commitment to supporting the growth of the eMobility sector in South Africa and contributing to the country’s broader goals of reducing carbon emissions,” the state-owned power utility said.
According to Eskom, the pilot project includes the procurement of 20 EVs ranging from light delivery vehicles to light trucks for operational use.
The pilot project also involves the installation of 10 charging stations at five Eskom sites across the country.
The other sites are Brackenfell in Cape Town, Mkondeni in Pietermaritzburg, Tlhabane Customer Network Centre (CNC) in Rustenburg and Marathon CNC in Mbombela.
These sites will serve as the foundation for Eskom Distribution’s long-term strategy to electrify its entire fleet by 2040.
“We continue to focus on our long-term strategy to deliver a competitive, sustainable, and future-proof Eskom to ensure energy security, growth, and long-term sustainability for the benefit of South Africa and sub-Saharan Africa,” said General Manager in the Office of the Eskom Group Executive for Distribution, Gabriel Kgabo.
By investing in eMobility and the charging infrastructure needed for EVs, Kgabo said Eskom was not only reducing its carbon footprint but also stimulating the local economy and creating new growth opportunities.
Kgabo highlighted Eskom’s support of the government to align South Africa with the global EV ecosystem market.
Key initiatives include the EV White Paper released by the Department of Trade Industry and Competition in December 2023 and the incentives announced by the National Treasury to encourage the local production of EVs from 2026.
Pilot Project Overview
The recently installed charging stations, in collaboration with Gridcars, feature state-of-the-art direct current fast chargers (60kW) and dual alternating current (AC) chargers (22kW). They are optimised for overnight charging of fleet vehicles and daytime workplace charging for employees and visitors.
The power utility believes this initiative will serve as a blueprint for the future rollout of EVs across Eskom’s entire fleet.
“It is one of the levers that will steer the organisation towards net zero carbon emissions by 2050 and will also contribute to stimulating the local EV market.
“The successful launch of this infrastructure is a result of the dedicated efforts of the project team within Eskom. Their work is laying the groundwork for a future where electric vehicles play a central role in South Africa’s transportation landscape.” – SAnews.gov.za
Gabisile
Fri, 08/23/2024 - 10:00
Youth is a strategic resource essential for moving the country forward
The youth is a strategic resource and an intellectual reservoir of ideas essential for moving the country forward, says the Women, Youth and Persons with Disabilities Minister, Sindisiwe Chikunga.
“Our youthful population represents a blessing with limitless potential—a strategic asset for the current and future well-being of this country and continent,” Chikunga said.
Delivering a keynote address at the South African Youth Economic Council (SAYEC) 3rd annual job imbizo, held at Melrose Arch on Thursday evening, Chikunga argued that while the current socio-economic conditions pose a direct threat to national stability and undermine future prospects, it is not the youth who are a threat to national security.
According to Chikunga, the conditions under which the youth continue to exist, create opportunities for both known and unknown threats to emerge and become institutionalised.
“Without a more purposeful, quantifiable, and deliberate investment in their potential and capabilities, South Africa will not be in a position to reap the benefits of its demographic dividend.
“No country on earth has been able to industrialise or re-industrialise while neglecting the role of youth in the economy. A trained, capable, and industrious youth is the crucial ingredient currently missing in South Africa’s industrialisation puzzle,” Chikunga said.
She emphasised that placing the youth at the centre of re-industrialisation must be accompanied by fundamental changes in the structure, systems and institutions.
This must also be accompanied by fundamental changes in patterns of ownership, management, and control of the wealth producing resources in favour of all South Africans, particularly the marginalised, vulnerable and poor, who are primarily Africans and women.
She said youth participation in the economy should not be reduced to hopping from one internship to another.
To prepare the youth for meaningful participation in South Africa’s era of industrialisation, the Minister stressed the need for a reimagined industrial strategy that is both fit for purpose and responsive to rapidly changing global economic patterns.
“These patterns range from automation and the rise of artificial intelligence in manufacturing to the ongoing geopolitical realignment. Such a strategy should be anchored on robust economic and market intelligence in order to enhance the quality of decision-making in support of our goals of productivity, industrialisation, commercialisation, and beneficiation,” Chikunga said.
Chikunga added that addressing youth unemployment requires targeted, sustainable interventions with clearly articulated exit opportunities.
"High levels of youth unemployment require special programs. The National Youth Service Programme must better educate, develop, train, and empower youth, and enable them to participate in the reconstruction of society,” Chikunga said. – SAnews.gov.za
GabiK
Fri, 08/23/2024 - 11:40
Innovation is the cornerstone of success in the restaurant industry, where staying ahead of trends and continually improving offerings is vital. Visionary Chef Dario de Angeli, renowned for his innovative culinary approach, shares insights drawn from years of experience in conceptualising and managing successful dining establishments, and now a boutique hotel. He explores the importance …
Fabricio Bloisi assured shareholders that protection for workers was important to him and the group
Gauteng government offers opportunities for art sector
The deadline is fast approaching for Gauteng-based fashion designers, live music artists and bands to apply for market access opportunities being availed by the Gauteng Department of Sport, Arts, Culture and Recreation.
Fashion designers have until this Sunday, 25 August, to apply for a chance to be part of three Gauteng fashion designers to participate and showcase their work in the Fashion and Textile Trade Fair, taking place in Cape Town from 07-13 September 2024.
Applicants are required to submit a company profile, company registration documents, ID copy, clear images of merchandise and a list of international fashion shows participated in.
Documents should be submitted to Dikeledi.chakane@gauteng.gov.za.
Meanwhile, an opportunity has been availed for unrecorded Live Music Artists and Bands to showcase their talent at popular tourist venues and elsewhere in Gauteng, including recording their own EP and receiving professional coaching.
Preference will be given to artists based in Townships, Informal Settlements and Hostel (TISH) areas.
The applicants have until Wednesday, 28 August 2024 to submit their applications to Basetsana.mabele@gauteng.gov.za. Applications should be submitted using the Google form provided at https://forms.gle/3HrVxA2HP8Ev99QP8
Only Gauteng-based fashion Designers and Live Music Bands should apply for the two opportunities. Further communication will be done with shortlisted candidates. -SAnews.gov.za
nosihle
Fri, 08/23/2024 - 09:20
Cabinet welcomes outcomes of the 44th Ordinary SADC Summit
Cabinet has welcomed the outcomes of the 44th Ordinary SADC Summit of Heads of State and Government held in Harare, Zimbabwe, on 17 August 2024.
The Summit had amongst others, urged Member States to implement the SADC Regional Humanitarian Appeal to the El Niño-induced drought and floods, and to continue monitoring weather and climate risks, including the forecasted La Niña event, and develop contingency measures to mitigate the impact of disasters.
The Summit also took note of the coming into effect of the Agreement establishing the Tripartite Free Trade Area among the COMESA, the East African Community and SADC which will provide opportunities for SADC members to tap into an expanded market of 26 countries with a population of about 700 million and a gross domestic product of US$1 trillion.
“On the Israel war against Palestinian, the Summit noted with concern the continuing relentless attack on civilians in Palestine which has resulted in the loss of lives, destruction of property and deteriorating humanitarian conditions and called for an immediate ceasefire, the release of all hostages and the commencement of talks to bring a lasting solution to the conflict,” Cabinet said.
Southern African Railways Association (SARA) Conference
Cabinet has also welcomed the deliberations during the 13th SARA Conference to uplift the rail sector within the Southern African Development Community (SADC) with an aim of facilitating greater trade within the region and take advantage of trade opportunities presented by the African Continental Free Trade Area.
Cabinet said a thriving SADC rail industry requires greater rail investment and collaboration within the SADC region to address its many challenges.
“The region’s rail industry has over the years been faced with challenges such as crime, theft and vandalism.
“South Africa is committed to doing its part to create an efficient, connected and modern rail sector, and is implementing policy and interventions, such as the Freight Logistics Roadmap, to revive, support and modernise the capacity and competence of our railways,” Cabinet said. – SAnews.gov.za
DikelediM
Thu, 08/22/2024 - 13:47
Gauteng’s property market presents a mix of opportunities with varying trends across its regions. Despite modest inflation figures, the demand for property remains strong, especially among first-time buyers and those seeking investment opportunities. Lara-Rachel Spronk, Franchise Sales Manager at Just Property Head Office, looks at the current market and the opportunities available. Overall, Gauteng’s annual …
Good news for local meat producers
The South African Ambassador to Saudi Arabia, Mogobo Magabe, says the lifting of the 21-year import ban of South African meat products by Saudi Arabia has opened a lucrative market for local meat producers.
Ambassador Magabe was speaking during the virtual Outward Selling Mission to Saudi Arabia that was hosted by the Department of Trade, Industry and Competition (the dtic), in partnership with the Department of Agriculture, South African Embassy, Saudi Arabia Food and Drug Authority, South African National Halaal Authority, and the Red Meat Producers Organisation.
Over 250 people attended Thursday’s session that was held under the theme: “Unlocking Trade Opportunities through Collaboration”
“The lifting of the ban was one of the strategic outcomes of President Cyril Ramaphosa’s State Visit to the Kingdom of Saudi Arabia where he held constructive and fruitful engagements with the Crown Prince and Prime Minister of the Kingdom of Saudi Arabia, Mohammed bin Salman. The two leaders signed fifteen agreements that included collaboration in agriculture, mining and tourism.
“It is an opportune time for the South African meat producers to take advantage of the lifting of the ban and export their products to the Kingdom. This can contribute in growing our economy, and strengthening our bilateral economic relations with Saudi Arabia,” Magabe said.
READ | The dtic to host virtual outward selling mission to Saudi Arabia
The Chief Director of Export Promotion and Marketing at the dtic, Ms Zanele Sanni, encouraged South African companies to utilise the virtual session to market their respective products to potential Saudi buyers with the aim of concluding sustainable export contracts that would increase trade between the two countries.
“As government, we are mandated to support local industries to enhance their manufacturing capacity and find suitable export markets for their products through strategic mechanisms like these,” Sanni said.
“We are committed to enhancing bilateral economic ties with Saudi Arabia. In recent years, both countries have had high-level political and business exchanges, leading to the lifting of the 21-year ban on South African meat exports to Saudi Arabia. This has opened up the substantial Saudi Arabian market to South African producers,” she said.
She expressed South Africa’s appreciation to the Saudi authorities for having already approved twelve South African companies to export beef meat to Saudi Arabia, and seven companies for lamb and mutton meat products.
“This demonstrates the high standards met by South African companies. It also confirms that the meat-producing sector in South Africa is highly developed and strategically positioned to meet the demand of the Saudi Arabian market,” Sanni noted.
The Chief Director of Animal Production and Health at the Department of Agriculture, Dr Botlhe Modisane, said Saudi Arabia provided a high potential market for South African exporters to tap into, in terms of both fresh or chilled beef meat as well as frozen beef products.
“Saudi Arabia currently accounts for about one percent of agricultural exports from South Africa,” Modisane said.
South Africa anticipates to expand its export market share with Saudi Arabia given the signing of the recent trade agreements.
Saudi Arabia is a net importer of beef. Its imports of frozen beef and fresh or chilled meat imports recorded approximately 71% and 90% growth rates respectively.
The session was also addressed by representatives of the South African National Halaal Authority (SANHA), Hammid Mulla and of the Red Meat Abattoir Association, Dr Gerhard Neethling. – SAnews.gov.za
Edwin
Thu, 08/22/2024 - 14:48
President Ramaphosa to undertake State Visit to China
President Cyril Ramaphosa is set to undertake a State Visit to the People’s Republic of China from 2-5 September 2024, to further strengthen diplomatic and trade relations between the two countries.
This visit follows President Xi Jinping’s fourth State Visit to South Africa in August 2023.
China is South Africa’s largest trading partner with bilateral trade standing at US$34 billion in 2023, made up of exports totalling US$12 billion and imports at US$22 billion.
READ | SA and China strengthen political, trade relations
Minister in the Presidency Khumbudzo Ntshavheni said on Thursday China had also been a major contributor to South Africa’s investment drive and is the country's largest source of foreign direct investment.
“A number of important agreements are expected to be concluded during the State Visit, including a Framework Agreement on Development Cooperation, the trade balance and market access expansion,” Ntshavheni said during a media briefing to outline the outcomes of Cabinet's meeting on Wednesday.
A South African delegation will also participate in the Forum on China-Africa Cooperation (FOCAC) which will take place from 4-6 September 2024.
FOCAC is multilateral coordination mechanism between Chinese and African countries, and it is viewed as a cooperation platform within the Chinese Belt and Road Initiative which is China’s global infrastructure development strategy. – SAnews.gov.za
DikelediM
Thu, 08/22/2024 - 13:49
The dust on the national elections has finally settled with the newly formed government of national unity described as a ‘market-friendly outcome’ by Business Day. This is good news for those who have been holding off on property investments as real estate interest picks up, particularly in secure estates. “There’s definitely a positive sentiment being …
Taboola (Nasdaq: TBLA), a global leader in powering recommendations for the open web, today announced an expansion of its operations to serve advertisers and publishers in Africa. Partnering with Aleph Holdings, Taboola’s advanced AI-powered technologies and consumer reach will now be accessible to advertisers and publishers in countries including South Africa, Nigeria, Kenya, Egypt and …
South African women are exiting their businesses at a higher rate than they are starting and running businesses indicating they need more support in growing start-ups to the established stage of more than 3.5 years. This is a key finding of the Global Entrepreneurship Monitor (GEM) South Africa Report 2023/2024 by Stellenbosch Business School, launched …
The Backbone of the Catering Industry In the bustling regions of Johannesburg and Gauteng, the catering industry relies heavily on a network of wholesale suppliers and food manufacturing companies. These suppliers are the unsung heroes, providing the essential ingredients that fuel the culinary creations we enjoy at various events. Catering Wholesale Suppliers: The Cornerstone …