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You are here: Home / Archives for new

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23 September 2024

The New Face of Bleisure Tourism

Location: MyPR

How business-leisure travel has evolved In a world where the lines between work and play often blur, the tourism industry has witnessed a remarkable evolution in travel patterns since 2022. What began as a niche trend, ‘bleisure’ tourism—blending business and leisure—has now become a major driver in hospitality, adapting and thriving in our post-pandemic reality. …

Read moreThe New Face of Bleisure Tourism
23 September 2024

CCTCLaunches Origin8 Programme to Accelerator Sme Growth in the Clothing, Textile, Footwear and Leather Industry

Location: MyPR

The Cape Clothing & Textile Cluster (CCTC) is excited to announce the launch of “Origin8: From Start-up to Scale-up”, a programme that is designed to support small and medium-sized enterprises (SMEs) in South Africa’s clothing, textile, footwear, and leather (CTFL) sector. Supported by the City of Cape Town’s Growth Coalitions Branch, the programme is the …

Read moreCCTCLaunches Origin8 Programme to Accelerator Sme Growth in the Clothing, Textile, Footwear and Leather Industry
22 September 2024

Neutrogena’s New Body Care Range Shines at Enchanting Johannesburg Launch

Location: MyPR

Neutrogena, a leading global skincare brand, launched its new body care range with an exclusive event held at the beautiful Shepstone Gardens in Johannesburg. The evening saw a select group of media, content creators, and beauty influencers gather for an enchanting experience to celebrate the future of skincare. The venue was transformed into a dreamscape …

Read moreNeutrogena’s New Body Care Range Shines at Enchanting Johannesburg Launch
22 September 2024

Fueling Your Fitness: Strategies for Weight Loss and Muscle Building

Location: MyPR

Achieving your fitness goals involves more than just spending time in the gym. From understanding your body’s nutritional needs to choosing the right supplements, creating a balanced routine that aligns with your goals is essential. Whether your focus is on weight loss or muscle building, finding the right combination of diet, exercise, and supplementation can …

Read moreFueling Your Fitness: Strategies for Weight Loss and Muscle Building
22 September 2024

Excluding Mobile Apps From Google Ads: A Quick Guide

Location: MyPR

Running a Google Ads display campaign can be highly effective, but without proper optimization, your budget can be wasted on irrelevant placements. One of the best ways to ensure your ads reach the right audience is by excluding mobile apps from your campaigns. This guide will show you why and how to exclude mobile app …

Read moreExcluding Mobile Apps From Google Ads: A Quick Guide
22 September 2024

New Blade Sharpening Business in Cape Town

Location: MyPR

We are proud to announce our opening in Cape Town. Elite Edge blade sharpening service is now available to sharpen and repair edges on kinves and tools. With competitive prices and a mobile service offering we refine dull and damaged edges on your favourite cutting edges. CLICK HERE to submit your press release to MyPR.co.za. …

Read moreNew Blade Sharpening Business in Cape Town
22 September 2024

Public Works, Cape Town commit to using public buildings for public good

Location: News

Public Works, Cape Town commit to using public buildings for public good

Public Works and Infrastructure Minister Dean Macpherson and City of Cape Town Mayor Geordin Hill-Lewis have committed to work together to use public-owned buildings across the city for the public good. 

The Minister and Mayor committed to forming a technical committee to work together between the department and the city during an oversight visit to derelict State-owned buildings in Cape Town and the Hout Bay Harbour on Friday. 

The two leaders have since agreed to track the progress achieved with these properties every month. 

“As Minister of Public Works and Infrastructure, I have always committed to using assets for the public to ensure that they contribute to the economic growth of their respective regions and help to create jobs.

“In many cities, our buildings have become a burden for the cities they are in, often attracting criminal elements and affecting property values. This has to change,” Macpherson said.

At a time of fiscal constraints, the Minister believes it is important that government find innovative solutions to dilapidated State-owned buildings to ensure that they become an asset to communities. 

“The State is simply unable to maintain and secure all of its buildings in the current fiscal environment, and therefore, partnerships will be essential.” 

With regards to the Hout Bay Harbour, Macpherson stressed that as the custodian of small harbours across the country, the department should consider partnering with competent local and provincial authorities and entities. 

This, he said, would help to manage, maintain and upgrade these assets to ensure that they contribute to economic growth in the municipality and province they are located.

Meanwhile, Hill-Lewis said the new joint technical committee would help fast-track resolutions to problem buildings owned by the State.

“There are several rundown State-owned buildings in Cape Town that are a source of crime, and a blight on neighbourhoods. We are encouraged that the collaboration with the... Minister will... yield positive results for Capetonians, and the neighbourhoods and businesses surrounding these buildings.

“Some of these buildings and land parcels could be released for affordable housing, while others should simply be demolished or sold so that they can be put to more productive use,” said Hill-Lewis.

The Mayor said he would like to like to see Hout Bay Harbour reach its full economic and tourism potential. 

“We are excited about the prospects of a partnership with national government to improve the infrastructure, safety, and local economic activity around this harbour,” Hill-Lewis added. – SAnews.gov.za
 

Gabisile
Sun, 09/22/2024 - 15:36

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Read morePublic Works, Cape Town commit to using public buildings for public good
22 September 2024

All Eyes Will Be on the Boxer Athletics Club at the Boxer Super Run in Durban

Location: MyPR

In 2023, the Boxer Athletics Club made a powerful statement when star athletes Precious Mashele and Glenrose Xaba delivered standout performances at the inaugural Boxer Super Run in Durban, setting the fastest 5km times on South African soil at that point—13:44 and 16:03, respectively. On Sunday, 13 October 2024, the club’s elite runners are set …

Read moreAll Eyes Will Be on the Boxer Athletics Club at the Boxer Super Run in Durban
22 September 2024

President Ramaphosa in New York for UN General Assembly

Location: News

President Ramaphosa in New York for UN General Assembly

President Cyril Rampahosa touched down on Saturday at the John F. Kennedy International Airport in New York, where he will be leading the South African delegation to the 79th Session of the United Nations General Assembly (UNGA) and high-level week. 

The President was received by International Relations and Cooperation Minister Ronald Lamola, South Africa’s Permanent Representative in New York Ambassador Mathu Nompozolo and Defence Attachè Brigadier General Richard Maponyane. 

President Ramaphosa is expected to address the General Assembly on the opening day, Tuesday, 24 September 2024.

Heads of State and Government are gathering at the UN Headquarters in New York to address the critical challenges and gaps in global governance exposed by recent global shocks. 

The summit aims to reaffirm commitments to the Sustainable Development Goals (SDGs) and the UN Charter, while enhancing cooperation and laying the foundations for a reinvigorated multilateral system.

According to the Presidency, this year, the African group presides over the General Assembly, with former Prime Minister of Cameroon, Philemon Yang, elected as President of the 79th Session.

“The theme identified by the President of UNGA79 is, ‘Unity in diversity, for the advancement of peace, sustainable development and human dignity for everyone everywhere’.” 

The issues on which President Ramaphosa will focus on during his engagements in New York include the necessity for the maintenance of international peace and security. 

He will also zoom in on the SDGs and the implementation of the 2030 Agenda, climate change and the upcoming COP29 in Baku, financing for development, and health and pandemic preparedness.

Today, President Ramaphosa will take part in the UN Secretary-General’s flagship High-Level Summit of the Future (SoTF), which, at its conclusion, is expected to adopt a Pact for the Future (PFTF).

While in New York, President Ramaphosa will also engage business leaders as part of the drive to attract foreign direct investment for South Africa, his Office said. – SAnews.gov.za

Gabisile
Sun, 09/22/2024 - 16:03

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Read morePresident Ramaphosa in New York for UN General Assembly
22 September 2024

Gelant, Mulaudzi, and Kipngetich Set for Showdown at Absa RUN YOUR CITY JOBURG 10K

Location: MyPR

With only one race remaining in the 2024 Absa RUN YOUR CITY Series, South Africa’s top runners are gearing up for an intense showdown against their East African rivals. Reigning Absa RUN YOUR CITY DURBAN 10K champion, Elroy Gelant, and newly crowned SA 10km Cross Country champion, Kabelo Mulaudzi, are set to go head-to-head with …

Read moreGelant, Mulaudzi, and Kipngetich Set for Showdown at Absa RUN YOUR CITY JOBURG 10K
22 September 2024

President Ramaphosa arrives in New York for UN General Assembly

Location: News

President Ramaphosa arrives in New York for UN General Assembly

President Cyril Rampahosa touched down on Saturday at the John F. Kennedy International Airport in New York, where he will be leading the South African delegation to the 79th Session of the United Nations General Assembly (UNGA) and high-level week. 

The President was received by International Relations and Cooperation Minister Ronald Lamola, South Africa’s Permanent Representative in New York Ambassador Mathu Nompozolo and Defence Attachè Brigadier General Richard Maponyane. 

President Ramaphosa is expected to address the General Assembly on the opening day, Tuesday, 24 September 2024.

Heads of State and Government are gathering at the UN Headquarters in New York to address the critical challenges and gaps in global governance exposed by recent global shocks. 

The summit aims to reaffirm commitments to the Sustainable Development Goals (SDGs) and the UN Charter, while enhancing cooperation and laying the foundations for a reinvigorated multilateral system.

According to the Presidency, this year, the African group presides over the General Assembly, with former Prime Minister of Cameroon, Philemon Yang, elected as President of the 79th Session.

“The theme identified by the President of UNGA79 is, ‘Unity in diversity, for the advancement of peace, sustainable development and human dignity for everyone everywhere’.” 

The issues on which President Ramaphosa will focus on during his engagements in New York include the necessity for the maintenance of international peace and security. 

He will also zoom in on the SDGs and the implementation of the 2030 Agenda, climate change and the upcoming COP29 in Baku, financing for development, and health and pandemic preparedness.

Today, President Ramaphosa will take part in the UN Secretary-General’s flagship High-Level Summit of the Future (SoTF), which, at its conclusion, is expected to adopt a Pact for the Future (PFTF).

While in New York, President Ramaphosa will also engage business leaders as part of the drive to attract foreign direct investment for South Africa, his Office said. – SAnews.gov.za

Gabisile
Sun, 09/22/2024 - 16:03

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Read morePresident Ramaphosa arrives in New York for UN General Assembly
21 September 2024

Celebrating This Year’s 25 Under 40 Energy Women Rising Stars

Location: News
African Energy Chamber

As Africa's energy sector continues to grow, a new generation of women is breaking barriers and redefining leadership in this critical industry. The African Energy Chamber (AEC) (www.EnergyChamber.org) proudly announces the 2024 edition of the 25 Under 40 Energy Women Rising Stars – a group of outstanding individuals whose innovation, perseverance and passion are transforming the landscape of African energy. These trailblazers are not only reshaping a traditionally male-dominated field but are also playing a vital role in the journey to end energy poverty by 2030. The AEC proudly honors these women as they lead the charge toward a more sustainable and equitable energy future.

In alphabetical order:

Amena Bakr, Senior Research Analyst, Energy Intelligence

Amena Bakr is a Senior Research Analyst at Energy Intelligence. Specializing in the energy transition, corporate strategy and market analysis, Bakr leads insights on oil markets, OPEC policies and political trends in the Middle East and Gulf Arab region. Her previous roles include Chief OPEC Correspondent and Dubai Deputy Bureau Chief, where she earned accolades such as the OPEC Award for Best Journalist and the IAEE Excellence in Written Journalism Award. Bakr holds a BA in Business Administration from the Arab Academy for Science, Technology & Maritime Transport, Egypt.

Amoetsoe Mkwena, Senior Associate, Watson Farley & Williams (Middle East)

Amoetsoe Mkwena is a Senior Associate at Watson Farley & Williams, specializing in energy and infrastructure with a focus on Africa. She advises on international projects, including the $15 billion Simandou project in Guinea. Mkwena's expertise includes power, renewables, oil and gas, and mining. Her legal skills and ability to bridge cultural divides make her a key player in Africa's energy sector.

Asha Amani, General Manager, INTERAFCON

Asha Amani is the General Manager at INTERAFCON, where she blends strategy and leadership to drive growth in complex energy projects. With seven years in Industrial Engineering and five years in the energy sector, Amani excels in business strategy, opportunity identification and project management. Her previous role as a Business Development Consultant at Tetco Consulting focused on delivering tailored solutions for the energy, engineering, and construction sectors.

Blandine Biaou, Geological Engineer, Head of Research and Prospection Department, SNH-Benin

Blandine Biaou, Head of the Research and Prospection Department at SNH-Benin, specializes in hydrocarbon exploration. She has optimized Benin's energy sector through resource management and contract revisions. Biaou has developed a modern data center and interactive database, contributing to national projects and representing Benin in international conferences, positioning it as a hydrocarbon hub.

Charné Hollands, Deputy Editor, Energy Capital & Power

Charné Hollands is the Deputy Editor at Energy Capital & Power, the leading investment platform for the African energy sector. She produces content on the entire energy value chain in Africa, with a focus on oil, gas, renewable energy and energy policy. Hollands holds a Master's in Media Studies from the University of Cape Town and has co-authored African Energy Chamber: Road to Recovery.

Emokiniovo Dafe-Akpedeye, Managing Partner, Compos Mentis Legal Practitioners

Emokiniovo Dafe-Akpedeye, a leading dispute resolution lawyer, specializes in complex oil and gas cases. She has represented Shell Petroleum and serves as company secretary for the Ebendo Host Community Trust Board. With degrees from Oxford and Bristol, she shapes oil and gas law and is implementing digital solutions to streamline board operations.

Fatimat Adenike Olanrewaju, General Field Engineer, SLB

Fatimat Adenike Olanrewaju, a Chemical Engineering graduate, is a General Field Engineer at SLB, focusing on wellhead installations and emissions reduction. She excels in a male-dominated field and leads community service through SLB's SEED initiative, advocating for gender diversity and mentoring.

Gracia Munganga, Senior Technical Advisory, ABT Global

With a Master's degree in Chemical Engineering from the University of Cape Town, Gracia oversees operations for the company, which has been designing and commissioning solar PV systems across sub-Saharan Africa since 2018. Her career includes roles at GreenCape, Anaergia Africa, the Climate Innovation Centre South Africa (CIC-SA), and the Carbon Trust.

Ifeoma Adeoye, CEO, IMSE Energy Resources Limited

Ifeoma Adeoye, CEO of IMSE Energy Resources Limited, leads the company in EPCI services and innovative crude evacuation technology. A graduate of the University of Manchester and Warwick, she also founded Business Nest Investments and BNI Insurance Brokers Limited, to empower and protect people and businesses through microfinance and insurance.

Jamilla Massamba, Health Safety and Environment Manager, SLB Congo

Jamilla Massamba, Health, Safety & Environment Manager at SLB Congo, leads HSE initiatives across Africa. With a Master's in Environmental Management Sciences, she has conducted over 100 audits and received awards for her work. Massamba also mentors young women in STEM and leads green energy projects.

Janice Faria, CEO, Enagol: Energias de Angola

As CEO of Enagol, Janice Faria has elevated the company's national and international profile. Under her leadership, Enagol competes globally and services International Oil Companies, setting a precedent for local enterprises in the global market.

Jocelyne Machevo, Communication, Commercial & Marketing Manager, Vivo Energy Mozambique

Jocelyne Machevo, formerly with Eni Mozambique, played a key role in the Coral FLNG Project and led the company's local brand transformation. Now at Vivo Energy Mozambique, she focuses on energy transition and decarbonization projects.

Lilian Kamanja, Electrical Engineer, Kenya Power

Lilian Kamanja is a Renewable Energy Specialist at Kenya Power with over nine years of experience in electrical engineering, network operations, and renewable energy development. She holds a BSc from the University of Nairobi and an M.Tech from IIT Delhi, focusing on renewable energy projects that enhance power accessibility and reliability.

Kanni Touray, Deputy Director General, Petroleum Commission, The Gambia

Kanni Touray, The Gambia's youngest and first female Deputy Director General at the Petroleum Commission, has enhanced the organization's efficiency and visibility. She champions sustainable development and energy transition, positioning The Gambia as a growing player in the global energy market.

Lizette Bouddhou, Human Resources Manager, SLB Congo and Gabon SLB

Lizette Bouddhou, HR Manager at SLB Congo and Gabon, drives diversity and workforce development. She leads recruitment and training initiatives, boosts employee engagement, and advances community outreach through educational partnerships, supporting women in STEM.

Maggie Mutesi, Managing Editor, Mansa Media

Maggie Mutesi is the Managing Editor at Mansa Media, with over 15 years of experience in major media outlets including CNN, BBC and CNBC. Her reporting spans over 30 African countries, focusing on trade and investments. At the BBC, she managed BBC Africa's daily live program, Money Daily. Mutesi has also extensively covered the Africa Continental Free Trade Agreement, working with the African Union and Afrochampions Initiative to enhance awareness among Africa's private sector.

Marilia Sitoe, Subsea Engineer, Eni Rovuma Basin

Marilia Sitoe, a Subsea Engineer at Eni Rovuma Basin, focuses on optimizing Mozambique's gas sector. Her work includes deep-water gas production and subsea infrastructure for Coral South FLNG. Sitoe's research supports Mozambique's economic growth and sustainability goals.

Mervin Azeta, Engineer, SLB

Mervin Azeta, a leader at SLB, has advanced from field engineer to corporate strategist. Recognized for her impact on African communities and the global industry, she is active in non-profit boards and connects young Africans with top leaders, fostering learning and inspiration.

Munolwisho Elizabeth Ipangelwa, Green Hydrogen Advisor, GIZ

Munolwisho Elizabeth Ipangelwa, Green Hydrogen Advisor at GIZ, advocates for women in oil and gas and green hydrogen development in Namibia. She has educated over 200 Namibians and leads green industrialization studies to boost local industries and reduce youth unemployment.

Ozioma Agu, Partner, Stren & Blan Partners

Ozioma Agu, a Partner at Stren & Blan Partners, excels in high-profile energy and infrastructure transactions. Her work includes advising on Mobil and Shell divestments and renewable projects. Agu has earned awards for her expertise in oil and gas and green hydrogen.

Pauline Murari, Contracts Manager SLB Angola, Central and East Africa

Pauline Murari, Contracts Manager at SLB, is known for her negotiation skills and leadership. She has driven growth in SLB's regional portfolio and contributed to projects like the East African Crude Oil Pipeline. Murari supports STEM education and local development.

Pearl Enyam Akosua Akude, Business Line Job Delivery Lead, SLB

Pearl Enyam Akosua Akude, with over 35 wells drilled, is a leader in the energy sector. She handles complex projects, trains engineers, and has contributed to innovations like TerraSphere and Net Zero Development in Africa, impacting the region's energy landscape.

Rita Bagaine Kagoro, Talent Acquisition Manager SLB: Angola, Central and East Africa

Rita Bagaine Kagoro, a Ugandan Petroleum Engineer, has seven years of experience and holds degrees from China University of Petroleum and Delft University of Technology. Her roles include Measurements and Logging While Drilling Engineer and Drilling Product Engineer. Kagoro has innovated drilling technologies to enhance efficiency and reduce CO2 emissions. She is passionate about leadership, mentorship, and advocating for diversity in hiring and women in energy.

Tania Silva, CEO, Angola LNG Marketing

Tânia Silva is the CEO of Angola LNG Marketing, the company's first female and youngest CEO. She oversees LNG sales, liquids contracts, and the shipping fleet. Previously, Silva was Head of Non-Operated Assets at Sonangol Gás e Energias Renováveis, S.A., where she managed non-operated assets and contributed to renewable energy projects. Her career is marked by leadership and innovation in the energy sector.

Tokollo Matsabu, Women Leader in Energy & Climate Fellow, Atlantic Council

Tokollo Matsabu is a 2024 Women Leaders in Energy and Climate Fellow and Director at Patlong Advisory, a consulting firm focused on energy programs and carbon sequestration in Africa. She is pursuing an MS in Global Energy and Climate Policy at the University of London's School of Oriental & African Studies, with a focus on critical minerals. Matsabu has a background in financial journalism and has conducted risk analyses for various stakeholders in the Global South. She holds a Bachelor's degree in International Relations, Media and Writing from the University of Cape Town.

Distributed by APO Group on behalf of African Energy Chamber.

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21 September 2024

New Frog Species Found in Cederberg

Location: News

Meet Cacosternum cederbergense, the Cederberg Dainty Frog

Read moreNew Frog Species Found in Cederberg
20 September 2024

Government dealing with outbreaks including bilharzia affecting Limpopo

Location: News

Government dealing with outbreaks including bilharzia affecting Limpopo

Efforts are underway to contain the outbreak and assess water quality in affected areas, following the emergence of the waterborne parasitic disease, bilharzia, in various locations within the Greater Tzaneen Local Municipality, situated in the Mopani District.

This is according to the Minister in the Presidency, Khumbudzo Ntshavheni, who addressed the media on Friday regarding the outcomes of the Cabinet meeting held on Wednesday.

According to the latest reports, the bilharzia outbreak has significantly impacted areas such as Nkowankowa, Khujwana and Dan villages.

Earlier this month, the provincial department said over 150 learners from Malwandla Primary School were diagnosed and are receiving treatment with anti-parasitic medication. 

Bilharzia is described as a waterborne disease transmitted through contact with contaminated water.

The public is urged to prevent children from swimming in contaminated water and to seek medical treatment immediately if symptoms arise.

Meanwhile, the Limpopo provincial government has established a provincial testing centre to address the outbreak after several people contracted the disease. 

Bilharzia can present a range of symptoms, which include but are not limited to abdominal pain, fever and chills, bloody diarrhoea, blood in urine, urine tract infections, persistent headaches, and fatigue.

The Minister said early diagnosis and intervention are crucial in managing and treating bilharzia effectively.

In addition, the Minister said there has been a restriction on animal movement in the Eastern Cape due to a foot and mouth disease outbreak in the Kouga and Koukamma municipalities that falls under the Sarah Baartman District Municipality. 

“Cabinet reminded South Africans that the transportation of livestock from one place to another requires a transport permit from a local state veterinary office,” Ntshavheni said. 

The Minister also touched on the importance of non-pharmaceutical measures to mitigate the spread of Mpox disease in South Africa.

She emphasised regular hand washing with soap and water or using alcohol-based sanitisers to prevent the disease's transmission after 25 cases were reported since the outbreak. – SAnews.gov.za

Gabisile
Fri, 09/20/2024 - 13:26

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Read moreGovernment dealing with outbreaks including bilharzia affecting Limpopo
20 September 2024

CLG Appoints Daoudou Mohammad as Director of Tax & Legal at Pointe-Noire Office

Location: Business
CLG

Supporting clients operating in the CEMAC region, trusted legal adviser Daoudou Mohammad has been appointed as Director of Tax & Legal at CLG's Pointe-Noire office (www.CLGGlobal.com). Mohammad brings a wealth of demonstrated expertise that will be instrumental to the law firm's Africa-wide practices, as the Republic of Congo and wider Central African region sees rapid growth in the energy sector.  

Mohammad holds over 15 years of experience in business and tax law, developing a solid competence in handling complex legal issues and providing effective client support. Prior to joining CLG, Mohammad served as Senior Manager at PwC's Tax & Legal Department in Pointe-Noire, managing the tax and legal coordination center for Francophone African countries, supervising quality and risk management operations, ensuring legal due diligence and supervising restructuring operations for groups of companies – including mergers and acquisitions and company transfers – among other key responsibilities.

Having also held a managerial role at PwC's South Africa office, Mohammad maintains an in-depth knowledge of different international systems and compliance with the highest standards of practice and service delivery, adapting to varied legal and cultural environments. Specializing in business, tax and labor law, as well as foreign exchange regulations and intellectual property, his multidisciplinary background represents a major asset to CLG and will enable the provision of integrated solutions to client needs and up-to-date advice on the latest legislative and regulatory developments. Mohammad holds a dual Master's Degree in Intellectual Property Law and Business Law from Cameroon's University of Yaoundé II.

The Republic of Congo is in the midst of a major investment drive, as it aims to accelerate oil and gas exploration and transform into a major LNG hub on the back of multiple large-scale LNG export projects and new exploration and appraisal drilling activities. To attract further investment and streamline regulatory processes, the country is launching a comprehensive gas code, recently approved a new Gas Master Plan led by national oil company Société nationale des pétroles du Congo, and plans to establish a dedicated national gas company. As a result, specialized tax, legal and regulatory advisory expertise is needed by companies operating in the Congo to navigate evolving energy sector legislation. 

CLG represents an experienced team of legal professionals, offering an in-depth understanding of African markets and a flexible and innovative approach to meeting the diverse needs of its clients. Serving as the preferred professional services partner in Africa, CLG is equipped to offer on-the-ground support across multiple sectors and has a rich history of spearheading transformative oil and gas transactions across the continent, providing top-tier legal services and strategic advice to clients across the energy spectrum, and guiding clients through complex regulatory landscapes and contractual negotiations. In addition to the Republic of Congo, CLG operates in South Africa, Nigeria, South Sudan, Mauritius, Ghana, Cameroon, Equatorial Guinea, Mozambique and Germany.     

“Navigating local laws, including taxation on oil and gas revenues, production-sharing agreements, and environmental regulations, demands thorough understanding to ensure compliance and optimize returns. We are excited to have Daoudou Mohammad head up CLG's tax and legal services in Pointe-Noire, who offers expert guidance on mitigating risks, avoiding costly legal disputes, and ensuring that investments are structured to meet both local obligations and international standards,” states Zion Adeoye, CEO of CLG.

Distributed by APO Group on behalf of CLG.

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20 September 2024

Cabinet welcomes signing of BELA Bill into law

Location: News

Cabinet welcomes signing of BELA Bill into law

Cabinet has welcomed the signing of the Basic Education Laws Amendment (BELA) Bill into law, by President Cyril Ramaphosa, marking a significant step towards transforming and enhancing the nation’s basic education system. 

President Ramaphosa publicly signed the Bill on 13 September 2024, during a signing ceremony held at the Union Buildings, in Tshwane.

The BELA Act amends sections of the South African Schools Act of 1996 (SASA) and the Employment of Educators Act, 1998 (EEA) to account for developments in the education landscape since the enactment of the original legislation.

The amendments are a response to court judgments that protect and give effect to the Bill of Rights. 

Since the advent of democracy, government has made notable progress in expanding access to education for the children of the country, however, barriers to access still remain.

The Act seeks to address these challenges and is part of the state’s ongoing efforts to build an education system that is more effective and more equitable. 

As part of advancing diversity and inclusion, the new legislation addresses the issue of language policy. Schools have to consider the broader linguistic needs of the communities in which they are situated.

Addressing a post-Cabinet media briefing on Friday, Minister in the Presidency Khumbudzo Ntshavheni said this landmark legislation obliges school governing bodies to take into account the linguistic needs of the wider community to promote inclusivity in education.

“This will go a long way in making education affordable more especially in the suburban areas, where majority of schools are Afrikaans teaching, whereas the broader community around the school are English speaking,” Minister Ntshavheni said.

The legislation seeks to, among other things, make Grade R the new compulsory school starting age and also promotes greater accountability with respect to the role of parents and caregivers in ensuring children attend school consistently. Home schooling will now be subject to more effective regulation and oversight. 

“In a move to strengthen Early Childhood Education, the BELA Act makes Grade R the new compulsory starting age for school. It also holds parents accountable by criminalising the failure to ensure their children attend school. There is no reason for a child not to attend school in South Africa at a Basic Education level because education is free,” Minister Ntshavheni said.

The law requires schools to apply the same standards for the admission of learners. The Act contains provisions for improving school admissions policies, particularly with respect to vulnerable learners, like children of undocumented migrants. 

To promote inclusivity, the new law guides schools on the development of codes of conduct that take into account respect for religious and cultural beliefs. This is important for fostering a more tolerant learning environment and a more tolerant society. 

The Act further seeks to ensure uniformity and fairness in educational standards across all schools.

To improve safety in the learning environment, the legislation reinforces the ban on corporal punishment. It introduces stronger penalties for those who administer corporal punishment. 

The legislation also introduces financial and public accountability frameworks for School Governing Bodies. It guides the oversight of their activities and work. 

Cabinet further welcomed the decision by the President to allow a three-month period of engagement on two clauses concerning schools' admissions and language policies, as part of ensuring a national consensus and national cohesion. 

Following different views expressed about the legislation, President Ramaphosa decided to delay the implementation date for clauses 4 and 5  by three months.

The President explained to South Africans that the parties to the Government of National Unity (GNU) expressed their wish to further engage each other on sections of the Bill (at the time) that deal with issues of admission and language. 

He said this will give the parties time to deliberate on these issues and make proposals on how the different views may be accommodated. However, should the parties not be able to agree on an approach, then government will proceed with the implementation of these parts of the Act.  

In an interview with SAnews this week, Education expert Mary Metcalf said she anticipates thoughtful and deliberate discussions regarding the BELA Act to unfold across the provinces over the next three months. 

“My expectation is that there will be very careful interaction with provinces in terms of Grade R and realistic dates of implementation that match careful planning… and that would be clause 4 of BELA.

“In terms of clause 5 of BELA, what is important primarily there - is for the discussions to recognise firstly that BELA doesn’t change any existing constitutional or legal provisions in law,” she said.

She explained that the BELA Act addresses cases, including Constitutional Court rulings, where procedural fairness by an education department was found lacking, particularly when provincial education departments could have handled discussions with school governing bodies more carefully.

Metcalfe allayed fears that the delay in implementation of clauses 4 and 5 of the Act may leave education departments without policy direction.

She explained that during the next three months, the existing law, based on the South African Schools Act and the previous Basic Education Laws Amendment Act, will remain in effect, ensuring that education departments and the public continue to be guided without any legal uncertainty.

The two specific clauses in the Act have faced opposition, primarily due to concerns that they strip school governing bodies (SGBs) of their authority over admissions and language policy decisions. 

In particular, Clause 5 has drawn criticism from those who believe it will disadvantage schools that operate in languages other than English, potentially undermining mother tongue education. 

However, the clauses stipulate that SGBs will retain control over these policies, as long as they are submitted for approval to the provincial Head of Department, in line with constitutional requirements.

Metcalfe stressed that there is significant misunderstanding among the public regarding what the BELA Act aims to achieve with mother tongue education. She clarified that the right to be taught in one’s mother tongue is firmly protected by the Constitution.

“The Constitution says everybody has a right to learn in their language of choice and it is the responsibility of the school governing bodies and the [provincial] Education Departments to ensure that this is practicable, practical, and that it takes into account the circumstances,” she said.

On the clause that now compels parents to send children to Grade R for compulsory schooling, Metcalfe again laid aside fears that government is attempting to “criminalise parents”.

She explained that in South Africa, approximately 96% to 97% of learners are already enrolled in Grade R, meaning most children aged five turning six are already participating in this level of education.

However, since Grade R is not yet compulsory, the State is not currently required to fund teachers' salaries or provide the necessary infrastructure, although public facilities are often utilised for this purpose.

Once Grade R becomes compulsory, she explained that the State will be obligated to pay the teachers and ensure that all necessary resources and infrastructure are in place. 

“Bringing attendance and compulsory attendance one year earlier means that we are able to reach children. [This is] particularly important, given the levels of inequality in our country, that young children are able to access formal learning… where they are exposed to text; where they’re exposed to group learning. It’s a good thing that we do this earlier,” she said. – SAnews.gov.za

DikelediM
Fri, 09/20/2024 - 13:36

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20 September 2024

Mantashe welcomes decision on SAPREF asset acquisition

Location: News

Mantashe welcomes decision on SAPREF asset acquisition

Department of Mineral and Petroleum Resources (DMPR) Minister Gwede Mantashe has welcomed the Competition Commission’s approval for the Central Energy Fund (CEF) to acquire the various assets that comprise the SAPREF refinery.

According to the company’s website, the east coast based refinery is the largest crude oil refiner in the country.

The department said the acquisition is the culmination of the “Sale Purchase Agreement between bp Southern Africa (bpSA) and Shell Downstream South Africa (SDSA) assets located at the SAPREF Precinct” to the CEF.

“The sale includes the SDSA and bpSA interests in the SAPREF land and other associated assets, which includes crude and finished product tanks, process units, pipelines to and from SAPREF to Island View terminal, and the Single Buoy Mooring for crude imports.

“The sale excludes SAPREF (Pty) Ltd, bp’s marketing businesses, the Island View terminal Operations and the lubricants blending and grease manufacturer, Blendcor (Pty) Ltd.

“The acquisition of these assets will form the hallmark of CEF’s investment and growth strategy in the energy value chain geared to lay a solid foundation to address the challenges that lies ahead in the security of South Africa’s energy future,” the department said in a statement on Friday.

The DMPR added that the acquisition reinforces the country’s “concerted efforts aimed at guaranteeing adequate supply of liquid fuels in the midst of premature closures of refineries”.

“[We] have seriously noted with concern the declining local refining capacity which resulted in the country becoming a net importer of refined petroleum products.

“This new emerging trend was not only threatening the country’s economic stability and security of supply of petroleum products but also meant the exportation of jobs that are so needed in the country given the stubbornly high level of unemployment.

“Therefore, the commission’s approval is important because it does not only authenticate the acquisition but reinforce South Africa’s concerted efforts aimed at guaranteeing adequate supply of liquid fuels in the midst of premature closures of refineries. 

“The acquisition of SAPREF, and its revitalisation thereof, will ensure that South Africa, through CEF, continues with the exploitation, development, and distribution of petroleum products,” the statement concluded. – SAnews.gov.za

NeoB
Fri, 09/20/2024 - 13:59

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20 September 2024

Eastern Cape Ncop Delegation Calls for Resuscitation of Delayed Infrastructure Development Projects

Location: News

Republic of South Africa: The Parliament
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On the last day of the National Council of Provinces (NCOP) 2024 Provincial Week Programme, the Eastern Cape's Permanent Delegates to the NCOP expressed their displeasure with the rising number of delayed infrastructure development projects in the province.

The delegation reiterated this displeasure during the last day of its week-long oversight visit to the selected infrastructure projects in the Chris Hani District Municipality as part of the NCOP's Provincial Week Programme. The delayed projects included Fikile Gwadana Road, Louis Rex Primary School and the Komani Economic Industrial Park.

The delegation heard that the newly established Queenstown Economic Industrial Area project started on 14 February 2022 and was expected to be completed on 13 February 2023. However, due to a court action, the project was delayed for eleven months, from August 2022 to July 2023. The new completion date was 30 September 2024, but the project is still far from completion, mainly due to budgetary constraints.

The Louis Rex Primary School in the Enoch Mgijima Local Municipality has 33 prefabricated temporary classes. The project, which is at 54% completion, encountered a delay mainly due to poor performance by the first contractor.

The school's principal informed the delegation that the school is overcrowded and has no recreational facilities, school clerk, staff room, or security guards. As a result, the school is vulnerable to all forms of crime emerging in the region, including extortion.

The Komani Industrial Park, situated within the greater Komani urban area, comprises two existing industrial areas of Queendustria and Ezibeleni township and is one of the district's economic hopes.

The delegation heard that the park is faced with problems that include relocation of investors due to, among other things, water shortage, insufficient electricity supply, lack of ICT connectivity, insecurity, and lack of funding for park operations.

The delegation called on the leaders of the district and local municipalities where these projects exist to ensure that all of them are resuscitated and accordingly budgeted for so that they can be completed.

The leader of the delegation, Chief Mwelo Nonkonyana, said, "It is high time that we commit ourselves to salvaging the situation. Let us engage all the roleplayers to ensure that all these projects become alive and the objectives for which they were planned are fulfilled."

Distributed by APO Group on behalf of Republic of South Africa: The Parliament.

Read moreEastern Cape Ncop Delegation Calls for Resuscitation of Delayed Infrastructure Development Projects
20 September 2024

Eskom, Sasol sign gas MoU

Location: News

Eskom, Sasol sign gas MoU

Eskom and energy and chemical company, Sasol, have signed a Memorandum of Understanding (MoU) to “collaboratively explore and research potential future liquified natural gas (LNG) requirements”.

This is according to a joint statement released by the two companies, following the signing ceremony of the MoU on Friday.

“The collaboration aims to determine the potential volumes that South Africa requires to establish a viable LNG import market, along with the enabling infrastructure, and will be facilitated by government-to-government relations where necessary. 

“This initiative focuses on using gas for power generation to provide essential base load electricity and position gas as a key enabler of re-industrialisation, while also ensuring continued supply to the market by unlocking global LNG resources. 

“Furthermore, the collaboration will contribute to enhancing South Africa’s energy mix and enable the country’s energy transition and decarbonisation,” the joint statement read.

The MoU is expected to “explore sourcing gas within South Africa, the Southern African Development Community region, and other parts of the African continent, in addition to evaluating long-term LNG contracting”.

“This will support the gas requirements for Eskom’s planned coal power station repowering and conversion to gas in the long term. The parties will also engage other state entities to enable an LNG value chain in South Africa.

“As part of its revised gas strategy, Sasol is working on enabling the future supply of LNG to South Africa by collaborating with companies such as Eskom, existing and future customers, suppliers, and infrastructure developers.

“The research findings from the first phase of the Sasol-Eskom collaboration will guide the necessary role players and investors required to offer the best prospects for South Africa’s energy market, while outlining the challenges associated with the long-term commitments required for LNG imports,” the statement said.

Speaking at the signing ceremony, Minister of Energy and Electricity, Dr Kgosientsho Ramokgopa, explained the importance of the collaboration between two of South Africa’s biggest energy related companies.

“We have made it clear that we are serious about LNG solutions for the country, and that our demand for gas across both industrial and energy frontiers will unlock these solutions.

“This collaboration between our two energy champions – one public, one private – will provide a data-driven and commercially sound basis for gas-fed industrialisation and for us to explore the well-worn path to lower carbon energy that the global north has already taken by scaling gas to power. 

“Gas has emerged as the second-largest contributor to global electricity production, experiencing rapid growth as many countries shift from coal to gas in their energy mix to enable positive implications for climate change, as gas typically emits less CO2 per unit of energy,” Ramokgopa said.

Eskom Group Chief Executive, Dan Marokane, said the two companies can collaborate to work on the transition to lower carbon methods.

“We have a great deal of experience as the two largest users of coal in South Africa and we felt by working together we could accelerate the climate change transition in a responsible way which sets the country up for the best economic, environmental and social outcomes and addresses the imminent gas supply shortfall. 

“Eskom is focused on a balanced and diversified energy mix based on existing coal and nuclear and introducing gas for baseload power, as well as renewables, energy storage systems including batteries and pumped hydro, to achieve overall security of supply and to meet and exceed rapidly expanding energy demand,” Marokane said. – SAnews.gov.za

NeoB
Fri, 09/20/2024 - 14:15

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20 September 2024

Over 293 000 Grade 1 & 8 placement offers issued to parents

Location: News

Over 293 000 Grade 1 & 8 placement offers issued to parents

The Gauteng MEC for Education, Sport, Arts, Culture & Recreation, Matome Chiloane, has announced that a total of 293 057 placement offers have been issued as of 07:00 AM on Thursday.

This comes after the start of the 2025 Online Admissions placement period for Grade 1 and Grade 8 learners. Of these, 146 385 offers were made for Grade 1 and 146 672 for Grade 8.

“To date, 148 744 offers have been accepted, while about 105 193 offers are still to be accepted by parents. While placement offers are being sent out in batches, we remind parents that this process will continue throughout the remainder of the year,” the department said. 

Parents are urged to log on to the Online Admissions website (www.gdeadmissions.gov.za) within seven days of receiving an offer to either accept the offer as final (which places the learner at the school with no possibility of reversal) or provisionally accept while awaiting other offers.

Accepting an offer keeps the child in the placement process while awaiting further offers. If a new offer is accepted, the previous one will be cancelled. If no further offers are made within seven days, the last accepted offer becomes final.

The department said placement offers will be issued continuously until all learners are placed. 

“Parents who do not receive an SMS immediately should not panic, as they can log into the GDE website to check for placement updates.

“If an SMS confirms a child’s placement at a specific school, no further action is required from the parent, as the child is considered placed at that school. All placements are subject to the availability of space and the priority placement criteria,” the department said. 

If a school reaches capacity and cannot accommodate a learner, parents may receive a transfer offer for the next closest school with available space. Parents can choose to accept or decline transfer offers.

Parents should also take note that, if an application status is marked as "Application still being processed," it means an offer will be made in due course, as such parents should not panic. 

The department said it has also noted some concerns from parents whose application statuses changed from "Documents Verified" to "No Documents Submitted." This change is the result of a careful review process where submitted documents were checked for authenticity, legibility, and completeness.

The department urges parents to remain calm and patient while it continues to process applications and send out placement offers in stern accordance with the following placement criteria: 

1. Home address within the school's feeder zone closest to the school. 
2. Sibling attendance or previous enrolment at the school. 
3. Work address within the school's feeder zone. 
4. Home address within a 30km radius of the school. 
5. Home address beyond a 30km radius of the school. 

Applications flagged as “No Documents Submitted”, will only be considered for placement during late registration period from 11 December 2024. 

“Parents who are not satisfied with received offers can submit Objections using an online form within 7 days of the offer. Objections will be reviewed, and outcomes provided within 14 days. If unsatisfied with the objection outcome, parents can submit an Appeal to the MEC within 7 days, which will be resolved within 14-21 days. Appeals are final and binding,” the department said. 

If parents need assistance or clarification regarding their application or placement status, they can contact the GDE’s Contact Centre at 0800 000 789 or via WhatsApp at 060 891 0361. 

Additionally, parents can visit any of the department’s 15 District Offices for further support, where officials are ready to assist with any queries related to the admissions process.

“We remain committed to placing all learners fairly. We thank parents for their patience and cooperation as we work diligently to secure placements for learners in Gauteng public schools,” MEC Chiloane said. – SAnews.gov.za

DikelediM
Fri, 09/20/2024 - 15:10

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20 September 2024

President Ramaphosa to Participate in the 79th Session of the Un General Assembly

Location: News

The Presidency of the Republic of South Africa
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President Cyril Ramaphosa will lead the South African delegation to the 79th Session of the United Nations General Debate and High-Level Week (UNGA79) in New York from 21-24 September 2024.

This annual gathering of world leaders is the most important event on the UN calendar, with Heads of State and Government and Heads of International Organisations discussing global challenges and how to address these challenges in the best interest of humanity. 

This year, the African Group presides over the General Assembly, with Mr Philemon Yang, former Prime Minister of Cameroon, elected as President of the 79th Session.

The theme identified by the President of UNGA79 is, "Unity in diversity, for the advancement of peace, sustainable development and human dignity for everyone everywhere.” 

President Ramaphosa is expected to address the General Assembly on the opening day, Tuesday, 24 September 2024.

Among the issues on which President Ramaphosa will focus on during his engagements in New York include the necessity for the maintenance of international peace and security; the Sustainable Development Goals (SDGs) and the implementation of the 2030 Agenda; climate change and the upcoming COP29 in Baku; financing for development, and health and pandemic preparedness.

President Ramaphosa will take part in the United Nations Secretary-General's flagship High-Level Summit of the Future (SoTF) on 22 September 2024, which, at its conclusion, is expected to adopt a Pact for the Future (PFTF).

While in New York, President Ramaphosa will also engage business leaders as part of the drive to attract foreign direct investment for South Africa.

Ministers accompanying the President include Mr Ronald Lamola, Minister of International Relations and Cooperation; Ms Maropene Ramokgopa, Minister in the Presidency responsible for Planning, Monitoring and Evaluation; Dr Aaron Motsoaledi, Minister of Health; Dr Dion George, Minister of Environment, Forestry and Fisheries and Mr Parks Tau, Minister of Trade, Industry and Competition.

Distributed by APO Group on behalf of The Presidency of the Republic of South Africa.

Read morePresident Ramaphosa to Participate in the 79th Session of the Un General Assembly
20 September 2024

Limpopo Man Digs Well So His Village Doesn’t Have to Share Water With Animals

Location: News

Vhembe District Municipality installed a new pump last week, and promised to come repair the broken boreholes in Tshifudi Tshikombele village

Read moreLimpopo Man Digs Well So His Village Doesn’t Have to Share Water With Animals
20 September 2024

Cabinet notes water supply disruptions in Gauteng

Location: News

Cabinet notes water supply disruptions in Gauteng

Cabinet has, according to Minister in the Presidency Khumbudzo Ntshavheni, noted existing water supply disruptions in Gauteng and in some Free State municipalities that are not related to the Lesotho Highlands tunnel closure. 

“We further noted that the DWS [Department of Water and Sanitation] has supported municipalities to engage stakeholders in relation to the closure of the Lesotho Highlands tunnel,” the Minister said. 

She was addressing the media on Friday, regarding the outcomes of the Cabinet meeting held on Wednesday.

“Cabinet further noted that in Gauteng, rapid population growth, lack of infrastructure maintenance, lack of enforcement of by-laws and delays in the implementation of phase 2 of the Lesotho Highlands project have contributed immensely to the current water disruptions. 

“However, the completion of phase 2 of the Lesotho Highlands project will bring relief if supplemented by water demand management interventions, use of new water-saving technologies and proper maintenance of infrastructure.” 

Cabinet had at its ordinary meeting this week been briefed on the closure of the Lesotho Highlands Water Project’s tunnel for planned maintenance from 1 October 2024 to 31 March 2025.

The Minister said Cabinet believed the planned maintenance work was crucial to protect the infrastructure for another 20 to 30 years and failure to undertake this work would risk the transfer of water to the Integrated Vaal River System (IVRS), which provides the water supplied by Rand Water to its customers and all municipalities in Gauteng.

The Minister said a thorough analysis to assess the risk to the performance of the IVRS, which consists of 14 interconnected dams, have since been undertaken by the DWS. 

“The analysis confirmed that the impact of the tunnel closure on the overall IVRS will be minimal as most dams in the IVRS are currently full.” 

Meanwhile, she said the Cabinet noted the department had been holding readiness meetings with Free State municipalities which receive water from the Liebenbergsvlei River since 2022. 

The purpose of these meetings is to mitigate the risks of service interruptions during tunnel maintenance.

“However, delays by municipalities to upgrade and/or refurbish their infrastructure remains a challenge. Cabinet noted that the DWS will monitor and where necessary, intervene to support these municipalities.” 

Water restrictions in Gauteng 

Shifting her focus to the implementation of level 1 water restrictions in Gauteng, she explained that this was a result of Rand Water reaching its maximum water output on the IVRS.

“Water demand in Gauteng continues to grow because of population growth, increase in non-revenue water in municipal systems, including illegal and unbilled connections, and lack of maintenance resulting in huge water leaks, which are at 33% average across Gauteng municipalities.”

Currently, Ntshavheni said, the peak demand for water from Rand Water’s municipal customers is close to and occasionally exceeds the supply available from its treatment plants and storage reservoirs.

“To avert greater restrictions Gauteng municipalities must prioritise reducing water leaks in their water distribution systems and enforce water-use restrictions.” 

Ntshavheni announced that the DWS, Rand Water and Gauteng municipalities are partnering with the World Bank 2020 Water Resources Group to implement a mass awareness and communications campaign on using water sparingly, in collaboration with civil society and business leaders. – SAnews.gov.za

 

Gabisile
Fri, 09/20/2024 - 14:18

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20 September 2024

Financial Services Sector Calling Out for Clear Line of Sight on AI, ESG Regulatory Horizon

Location: Business
DLA Piper

Businesses say the lack of clarity around ESG and AI regulation is a key challenge to realising the benefits of technology and innovation; Despite recognising the business opportunity with AI, as firms opt to bring in suppliers rather than recruiting in-house specialists, they may be left without the internal talent - risking falling behind the curve in the future. 

New survey data from global law firm, DLA Piper, has shown that the Financial Services (FS) sector is calling out for clearer and proportionate regulations surrounding AI and ESG to help them realise the benefits these trends offer.  

In its global report - Financial Futures: Disruption in global financial services (https://apo-opa.co/3zhzr4e), published today, the firm found that eight in ten respondents are optimistic about future industry growth prospects for  the financial services industry. UK and US organisations reported the highest confidence (93% and 90% respectively) with Africa remaining more cautious (50%). 

Amongst organisation types, the research finds that banks are the most optimistic (88%), with optimism being driven by digitalisation and advancements in technology. Respondents from global FinTechs however, are feeling the least positive (72%).  

The high levels of optimism are being attributed to advancements in technology (71%), the launch of new products and services to drive growth (55%) and changing consumer and investor behaviours (38%).  

However, clarity and a proportionate approach is key as 58% of respondents cite regulation complexity around technology as a key challenge globally, and nearly three quarters (73%) go on to say that current regulations stifle innovation efforts.  

For those looking at other locations for optimal conditions for growth , the US is seen as the most attractive market (35%), followed by the EU (24%). South African and Middle Eastern respondents are the most optimistic for the positive impact AI will bring (72%, and 64% respectively), highlighting an appetite for investment, despite apparent lower levels of confidence in the local market.  

AI and Digitalisation will transform the financial services sector, but businesses need a plan  
Whilst the majority of respondents (86%) believe that AI will transform the sector, half (53%) see AI as one of their main challenges- even so, only four in ten (both 39%) are committed to hiring experts in the field of AI and imposing governance /oversight structures to maximise the related opportunities;  and half of the companies surveyed lack in-house specialists and are opting to work with specialist subcontractors.  

Without this internal talent, businesses risk falling behind the curve in the future. 

Ethical AI concerns are highly documented, yet only 56% of the organisations surveyed are developing ethical frameworks to guide their efforts. Without an ethical framework in place, businesses put themselves at risk of not meeting stakeholder, customer and board demands around AI deployments. It is vital for businesses to have a clear plan and direction in place before they start their AI journey.  

Despite not having frameworks to use, businesses report a clear understanding of the benefits AI can offer, such as managing regulatory compliance (63%); followed by fraud detection and prevention (62%). A fifth (21%) of businesses are worried about compliance issues as they look to manage the cyber security and data protection risks associated with AI.  

The importance of ESG cannot be understated  
As businesses grapple with changing ESG regulations across multiple jurisdictions, nearly (46%) half of businesses globally have ambitions to position themselves as a leader and innovator on sustainability and ESG.   

The appetite to drive ESG agendas forward is clear, but businesses report concerns on achieving their goals - over half of respondents (56%) would like to see more ESG regulation to support them in meeting their objectives, and 43%% want to understand the current regulations better.   

Businesses seem clear on the ESG challenges they need to navigate, with half stating that the reputational risk of ESG positioning is their biggest challenge, followed by integration of ESG throughout the business (47%). Businesses also ranked accurate reporting as a challenge which they are struggling to address. 

The negative external reputational risk of not complying with and need to comply with regulations are the biggest drivers for firms to engage in ESG activities (70% and 52% respectively). However, pressure from shareholders and senior management ranked lowest at 36% and 34% respectively.  

As the sector engages with ESG activities, almost 6 in ten (57%) plan to develop new ESG-focused products and services, and half are developing new technologies, yet staff development and training to optimise ESG efforts remains low on the agenda (17%).  

Almost half of the sector has ambitions to position their business as an ESG leader, whilst a third (34%) plan to replicate successful approaches by their peers. Not all organisations are so proactive - A fifth (19%) will wait until stakeholders and customers demand an approach, before making any decision. 

Mark Dwyer  Global Co-Chair of the firm's Financial Services sector group at DLA Piper commented: "While our survey shows a high level of optimism within the financial services sector, our research reveals a need for FS organisations to go further in planning around resourcing and regulatory horizon scanning in order to navigate the opportunities that AI and other new technologies offer. 

"It is clear that ESG factors are driving changes to activity in financial markets; from financing the enormous capital requirements for transition, to ensuring accurate reporting of environmental, social and governance metrics to facilitate choice for investors and supervision and stress-testing by regulators. It is therefore vital that leaders take note of the challenges and opportunities presented by ESG and define a clear plan. Both ESG and innovation will be key to business success long into the future." 

Johannes Gouws, Country Managing Partner, DLA Piper South Africa added: "In light of the challenges our report identifies, financial services organisations are placing a higher focus on horizon scanning, as well as mapping out global regulatory implications. Balancing adequate and over-regulation in developing markets is always challenging. However, it is crucial for regulations in African markets to keep pace with international developments in order to limit regulatory arbitrage and protect the sector's integrity. Proportionate regulation in the sector is key, and can be a competitive advantage in attracting business and investment. With DLA Piper's pan-African and global reach, we can help clients to simplify their cross-border challenges whilst supporting their resilience in the face of constantly changing risks."  

Distributed by APO Group on behalf of DLA Piper.

Notes to editors: 
DLA Piper commissioned Coleman Parkes Research to canvass views of key decision-makers in global financial services organisations across the EMEA and APAC regions and North America. Nearly 800 interviews were conducted online in March and April 2024 with executives in key businesses across banking, funds and fund managers, fintech and financial services market infrastructure firms with revenues from USD1 million.  

Contact:
Suraj Mashru
Senior PR Manager (UK & International), DLA Piper
+44 (0) 207 153 2617
Suraj.Mashru@dlapiper.com 

About DLA Piper 
DLA Piper is a global law firm helping our clients achieve their goals wherever they do business. Our pursuit of innovation has transformed our delivery of legal services (https://apo-opa.co/3MPSGou). With offices in the Americas, Europe, the Middle East, Africa and Asia Pacific (https://apo-opa.co/4dczEU6), we deliver exceptional outcomes on cross-border projects, critical transactions and high-stakes disputes.  

Every day we help trailblazing organizations seize business opportunities and successfully manage growth and change at speed. Through our pro bono (https://apo-opa.co/3BkLxde) and sustainability (https://apo-opa.co/4djCiHE) work, we support communities around the world and help create a more just and sustainable future. Visit www.DLAPiper.com to discover more. 

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