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“In February 2024 I completed a seven-year quest of climbing the tallest peak on every continent. Climbing for me extends far beyond any record or achievement, it’s a continued journey back to my most authentic self.” (Remy Kloos) A lot has been said and written about Remy Kloos – and for a good reason: she’s …
The Foundation L’Oréal, in partnership with UNESCO, is excited to announce the sixth edition of the Women in Science Young Talent Search in South Africa. This initiative calls for outstanding female researchers under the age of 40 from diverse scientific fields—including Formal Sciences, Life Sciences, Environmental sciences, Physical sciences, Engineering and Technological sciences.to apply. The …
The Minister of International Relations and Cooperation Minister Pandor, will co-chair the VII Session of the South Africa-Brazil Joint Commission (JC) on 23 April 2024 in Brasilia, Brazil, with her counterpart, Minister Mauro Vieira, the Minister of Foreign Affairs of the Federative Republic of Brazil.
On 13 December 2003, South Africa and Brazil signed an agreement to establish a Joint Commission. A Declaration on Strategic Partnership and an Action Plan was signed in 2010.
The Joint Commission serves as a mechanism to monitor and facilitate the implementation of the Action Plan in several areas such as agriculture; defence; economic and commercial relations; environment; health; higher education and technical cooperation; justice and correctional services; minerals and energy; science, technology, and communications; sports, arts, and culture.
The Joint Commission is composed of 10 sectoral Working Groups (WG).
A Senior Officials Meeting was held on 10 April 2024 to review the work done by the working groups in preparation for the JC.
South Africa shares a common history and cultural heritage with Brazil's over 100 million population of African descent (African Diaspora), the second largest African Diaspora in the Americas region.
Brazil will host the Sixth Region Diaspora Conference in the state of Bahia on 20-22 May 2024 as one of the preparatory meetings for the Ninth Pan African Conference that will be held in Togo in October 2024.
South Africa and Brazil as member countries of the Global South, actively advance the developmental agenda of the South through, amongst others, the UN, IBSA, BRICS, G20, WTO, and International Financial Institutions.
Brazil is currently holding the IBSA Chair, G20 Presidency and in 2025 will chair the BRICS Plus as well as COP30. On 1 December 2023, South Africa became a member of the G20 Troika, with India and Brazil and will assume the Presidency of G20 in 2025
Brazil is South Africa's largest trading partner in Latin America and is the second largest trading partner in the Americas after the USA. South Africa is Brazil's second largest export partner in Africa.
The resumption of LATAM Airlines' and SAA's direct flights between Sao Paulo and Johannesburg in 2023 has opened opportunities to scale up tourism, trade, and people-to-people relations.
Distributed by APO Group on behalf of Republic of South Africa: Department of International Relations and Cooperation.
India-listed Varun Beverages Limited (“VBL”), the largest PepsiCo bottler outside of the USA and China, entered into an agreement to acquire 100% of the shares in The Beverage Company Proprietary Limited (“BevCo”). RMB (www.RMB.co.za) acted as sole financial advisor to BevCo and selling shareholders, including a Private Equity Fund managed by The Rohatyn Group (post the completed merger of Ethos Private Equity with The Rohatyn Group in April 2023) and Nedbank Private Equity, in a deal with an enterprise value of R3 billion.
BevCo, is one of the largest carbonated soft drinks producers in Southern Africa. Their portfolio consists of the recognisable brands Jive, Coo-ee and Reboost. BevCo also bottles and distributes PepsiCo-branded non-alcoholic beverages in South Africa and has five manufacturing facilities in the country, in addition to operations in Lesotho, Eswatini, Namibia, and Botswana.
“Having invested in 2017, The Rohatyn Group's Africa Private Equity team together with our partners and the management team have built a focused non-alcoholic beverage platform. We executed our original investment thesis over a seven-year period and today the consolidated BevCo is in excess of three times the size and continues to grow its market share organically. VBL brings significant resources and expertise to invest in BevCo's product offering and grow PepsiCo's brands in Southern Africa, while expanding their presence on the continent,” says Glynn Potgieter, Managing Director at The Rohatyn Group.
There are always multiple challenges with cross-border transactions, in this instance including the requirement for compliance with both the Indian Stock Exchange and South African regulations. Regulation in India required a restructure of the BevCo group as well as the transfer of its debt facilities and subsequent deregistration/liquidation of more than ten entities within the group structure. This had implications on what would normally be a standard warranty and indemnity insurance policy. The transaction showcases RMB's advisory capability in successfully navigating complex cross-border transactions and ability to access international buyers for high quality South African assets.
In addition to the corporate finance advisory role to BevCo, RMB's South African and India teams assisted with refinancing the existing debt within BevCo as well as providing incremental acquisition finance for the transaction, in addition to facilitating the flows and foreign exchange conversion for the deal. This demonstrates RMB's expertise and comprehensive solutions offering across the Indo-Africa corridor. With a footprint and expertise based both in South Africa and India, RMB can support clients on both sides of the corridor to enable seamless end-to-end transactions.
“The Indian market reacted extremely positively with VBL's share price increasing in excess of 10% and reaching an all-time high on the day the transaction was announced. The transaction represents a significant investment and an important vote of confidence in South Africa by a large global player in the sector,” says Gareth Armstrong, Corporate Finance Executive at RMB.
Distributed by APO Group on behalf of Rand Merchant Bank.
In the face of persistent loadshedding challenges, an uninterrupted power supply is imperative for sustaining critical operations in businesses and industries. As a result, many South African companies have found that they have no choice but to invest in alternative power solutions such as solar, inverters or generators to ensure business continuity. Solar power can …
City of Ekurhuleni says five families can safely share a chemical toilet
Autumn is the perfect time to book a golfing getaway with your golfing buddies or your partner if they enjoy golf. The weather is cooler, and rain is less likely but the fairways remain lush and inviting. Shaun Lamont, Managing Director of First Group Hotels and Resorts, and avid golfer, shares some great tips to …
Clarens, Free State, South Africa – 27 March, 2024: Immerse yourself in the Clarens Arts Festival, set to transform the picturesque village of Clarens into a vibrant hub of creativity and culture from the 1st to the 5th of May, 2024. With tickets now on sale, this festival is your passport to an unparalleled cultural …
After a decade of water cuts, wealthier areas have insulated themselves, but poorer areas remain at the mercy of a failing system.
Nowadays, the phrase ‘home is where the tech is' defines modern living, as South Africans increasingly (https://apo-opa.co/3TSowVR) adopt smart home innovations. These advancements are continuing to adapt and evolve in their capabilities which not only improve convenience and security but can also decrease energy consumption, contributing to cost savings.
This is according to Dr Andrew Dickson, Engineering Executive at CBI-electric: low voltage (www.CBI-LowVoltage.co.za/), who says that, in 2024, homes will become even more high-tech in terms of the efficiency, functionality, and personalised living experiences they provide. “We may still be a few years away from homes resembling those dreamed up by sci-fi movies, but we are already heading in the direction of smart technology becoming less of a luxury and more of a staple in modern homes.”
Below, he shares four trends that will help make South African homes smarter this year:
In addition, WiFi-7 is set to roll out in the country this year which will improve internet connectivity to devices in the home, extend range and promises to deliver nearly five times the speed of Wi-Fi 6. This, however, is also reliant on the release of more spectrum and regulatory approvals.
In the future, generative AI will make smart homes even smarter. Soon, these tools will not only help to identify appliances that require preventative maintenance but also set up appointments with service providers for their upkeep based on the homeowner's schedule and availability.
Additionally, as more South Africans embrace rooftop solar (https://apo-opa.co/3IUS6DT), smart technology enables the effortless integration of renewable energy sources to combat the impacts of load shedding while also ensuring that the power produced is used effectively and efficiently.
“In 2024, smart homes will become sanctuaries of innovation, enriching the lives of South Africans and heralding a future where homes understand, adapt and even pre-empt the unique needs of their residents," concludes Dr Dickson.
Distributed by APO Group on behalf of CBI-electric: low voltage.
For more information, go to https://CBI-LowVoltage.co.za or follow CBI-electric: low voltage on Facebook (https://apo-opa.co/3vvHgRW), Instagram (https://apo-opa.co/43Cr9hY), LinkedIn (https://apo-opa.co/4atY8Y6), X (https://apo-opa.co/4aw8czw), Threads (https://apo-opa.co/3VBbqxv) or YouTube (https://apo-opa.co/3IWb2Ce).
About CBI-electric: low voltage:
Why fundraise on a global scale Raising capital for your startup is a critical step in turning your entrepreneurial vision into a tangible, thriving business, especially when you start to think at scale. The right investors can bring so much more than money to the table – they can become solid partners in your business …
In celebration of World Consumer Rights Day and Global Money Week, Binance is taking a proactive stance by raising awareness of consumer protection, especially within the dynamic realm of the digital economy. As the crypto industry continues to evolve, Binance remains committed to empowering users with knowledge to navigate the space securely. It is crucial …
The 14th season of South Africa’s biggest pitching competition, Pitch & Polish, promises to be another nail-biting instalment. While the programme will follow the same winning formula as last year, where contestants engaged in a gripping battle of business pitches as they competed for the ultimate prize, there will be a notable change: a new …
Pretoria, South Africa – In a digital landscape saturated with cookie-cutter websites, standing out from the competition has never been more crucial for businesses. Click Results, a leading digital marketing firm based in Pretoria, South Africa, unveils the keys to website distinctiveness in their latest industry insights. Have you ever scrolled through your competitor’s websites …
SAA, Takatso deal collapses
Following three years of negotiation, Minister of Public Enterprises Pravin Gordhan has announced the termination of negotiations for the transaction to sell 51% of South African Airways (SAA) to the Takatso Consortium.
The collapse of the negotiations – which put an end to the sale to the equity partner – was announced during a media briefing by the Minister in Cape Town on Wednesday evening.
Gordhan explained that while three years ago, a valuation of SAA’s business and assets had been reached, circumstances have now changed – prompting a disagreement on the revised transaction structure.
Three years ago, the airline had undergone business rescue, battled through being grounded and was facing serious challenges following the COVID-19 pandemic.
“Late last year, clearly, we had a different market, we had a different economy, and we had a different flying public in terms of numbers of people that were flying and a new valuation was done.
“And the new valuation…the business came out now at a value of R1 billion and the property went up to about R5.5 billion which meant that any negotiations on this transaction would have to take into account the new valuations that have emerged,” he said.
The Minister revealed that negotiations continued “for the latter part of last year” and since this year began.
“However, we came to a point where whilst there was meeting of minds…on some of the issues, there were other issues on which there was no meeting of minds.
“So late last week, there was agreement that in terms of a clause in the old sale and purchase agreement, whereby mutual consent, this transaction could be terminated. That clause was put into action and both parties have agreed – after we enquired about the status of the negotiation – that there was no clear path forward as far as the transaction with Takatso is concerned.”
Gordhan insisted that because SAA remains a public entity:
He added that despite the collapse of the deal, the future remains bright for the airline and dismissed any notions that it will rely on government bailouts going forward.
“We are convinced, in terms of the numbers available to us, that it can sustain itself for the next year to 18 months and there are various, other ways in which immediate financing can be obtained.
“But at no stage, in the course of the months that come, will SAA get money from the fiscus. It must run its operations as efficiently as it can and as profitably as it can and sustain itself,” he said.
READ | Strategic Equity Partnership for SAA aimed at saving airline: Gordhan
Moving forward
Gordhan assured employees of the state-owned airline that their jobs are currently not in danger as a result of the collapse of the deal.
“So the message to the SAA staff…is that you don’t worry about your jobs, you don’t worry about the future of your families, that we will ensure that we work with the board and management…to continue to support the sustainability of SAA and to ensure that the corporate plan that has been developed by SAA is further strengthened,” he said.
READ | SAA officially relaunched
The Minister added that the corporate plan is well fleshed out and projects a growth in the airline.
“That corporate plan actually entails the gradual growth in the number of routes that SAA will take up in the course of the next few years. Currently, it has about 19 routes and that will grow up to 40 routes in a five year period.
“Similarly, it will have the capacity to lease more aircraft, both for domestic use, use within the continent and for inter-continental flights as well.
“All of these plans will be rigorously examined with the necessary aviation expertise to ensure that jobs are secure, that the airline is secure and that there is a future for SAA and its flag to be seen continuously within the country, within the continent and across continents as well,” Gordhan said. – SAnews.gov.za
NeoB
Thu, 03/14/2024 - 10:05
As a seasoned business owner with over 9 years of experience in delivering top-notch roofing and waterproofing solutions, I understand the significance of fortifying your property against the elements. Your property’s first line of defense is its exterior, and mastering the art of exterior waterproofing is paramount to ensure long-lasting protection. In this article, we’ll …
Travels over the school holidays and Easter weekend bring the promise of adventure and exploration. As you hit the open road, the anticipation builds, and the journey becomes just as important as the destination. One key element that can make (or break!) a road trip is the selection of snacks. After all, what’s a road …
Award of lucrative tender for collecting outstanding student debt being probed by authorities
Cape Town, South Africa, March 04, 2024 – Musiquelaine SA, a respected non-profit organisation dedicated to nurturing talent, fostering cultural understanding, and championing the universal language of music, celebrated its 10th-anniversary celebration on the 21st of February 2024! Founder Lainey Trequesser expresses deep gratitude for the organisation’s journey thus far and anticipates the forthcoming relaunch …
In an era where sustainable energy is not just a preference but a necessity, South Africa stands on the brink of significant energy transitions. This necessitates a robust legal framework and solid financing strategies to effectively navigate the complexities of energy project development. In this article we examine critical legal considerations and strategies pivotal to …
For more information on Quick Capital and how Zapper is empowering South African businesses, follow this link: https://www.zapper.com/quick-capital/
Mergers & Acquisitions (M&A) are often the most effective way for companies to transform their businesses, whether through acquiring or divesting of businesses or subsidiaries, acquiring technology or supply chains, investing in new product lines, or entering or exiting markets. What are the three types of acquisitions? 1. Horizontal Acquisition: This involves a company acquiring …
A deregulated power sector is an enormous opportunity for key markets in Africa, as individual countries start to contribute to an efficient, sustainable and competitive renewable energy ecosystem, says Paul van Zijl, Group CEO at Starsight Energy (https://StarsightEnergy.com). Here he shares some insight into the potential benefits of deregulation and how these changes can create a ripple effect across the African continent – becoming the blueprints that many African countries will use to overcome their own energy challenges.
The deregulation of the energy sector has massive potential for the continent, but it must be approached in the right way to have a long-term and sustainable impact. Deregulation is already happening in various African countries at differing paces, particularly those in sub-Saharan Africa, as more and more Independent Power Producers (IPPs) collaborate with local regulators and stakeholders to assess and determine the best way to optimise natural resources and harness their limitless potential.
While the application of deregulation in each country is different, the principal benefits remain the same. Each country stands to gain from a revitalised power sector that offers more opportunities to IPPs, attracts more local and international investment into the local energy landscape, and makes electricity and renewable energy more accessible to consumers at competitive prices.
In Nigeria, for example, we are seeing the first exciting steps of deregulation as the Nigerian Electricity Regulatory Commission (NERC) moves towards transforming the sector. A new federal law, the Electricity Act (2023) (https://apo-opa.co/3Ir5QpI), has been enacted which enables different states to pass their own laws and establish state electricity markets. Once a state establishes its electricity market, the federal government will cease regulation of electricity distribution within that state. This first step is a collaborative effort that will go a long way in creating a sustainable, privatised and deregulated market in Nigeria.
In Kenya, the eagerly anticipated Open Access (wheeling) regulations have also recently been gazetted. The regulator fast-tracked Open Access to the grid, enabling IPPs to supply electricity directly to large customers through the national network, under regulation guidelines from the Energy and Petroleum Regulatory Authority (EPRA). Further impetus will also derive from the recent announcement that the Eastern Africa Power Pool (EAPP) (https://EAPPool.org) is targeting to go live with a competitive power trading market by the end of December 2024 – taking the region from bilateral trade to trading amongst all countries. This will allow the EAPP's 13 member countries to sell excess electricity in cross-border transmission projects. Considering that countries in the EAPP are already trading over 3 400 GWh annually, this move is set to transform the region's interconnectivity even more. Kenya has already reaped the rewards of bilateral trading, including an energy exchange engagement with Uganda and the importation of 200 MW of renewable energy from Ethiopia.
Meanwhile, in South Africa, deregulation has seen the introduction of innovations such as self-generation, electricity wheeling (https://apo-opa.co/3IuyKFm), and energy trading from IPPs. The rising popularity of utility-scale solar farms is a direct result of deregulation, which in turn has been accelerated by local funders deploying funds to grow IPPs. The funders invest in the construction of solar farms, allowing them to meet their mandate to fund the low-carbon transition. At the same time, the IPPs can leverage this financial backing to bring Direct Foreign Investment (DFI) on board to support the project until completion. These initiatives demonstrate the power of collaboration between the private and public sectors.
The positive impact of deregulation on South Africa's power infrastructure runs even deeper than boosting generation capacity. In some cases, IPPs also provide a main transmission substation (MTS) to the national utility provider, Eskom, as part of their project to bolster connectivity to the transmission network. In other instances, IPPs are installing utility-scale battery storage alongside their farms to store the solar energy that is produced. These installations help the IPPs mitigate their risk to ensure their projects aren't hampered by the complexities associated with the local grid. Such widespread deregulation is not necessarily to be expected across the continent, but learnings can be taken from South Africa to apply on a country-by-country basis.
Our South African operation, trading as SolarAfrica (https://SolarAfrica.com), is working closely with Eskom to bring projects like these to life in the country, while Starsight Energy (https://StarsightEnergy.com). and Starsight Premier Energy Group (https://SPEGea.com) are working with regulators, stakeholders and various industry players in Nigeria and Kenya to see how we can shape each region's changing energy landscape.
The impact of deregulation has been – and will continue to be – transformative. We look forward to working with the industry and regulators to accelerate the process in our key markets as we ultimately believe a well-considered deregulated market will be to the benefit of the end consumer and allow economies to grow and thrive with the private and public sectors working hand in hand.
Distributed by APO Group on behalf of Starsight Energy.
It’s Money March, and during this month, several JSE-listed companies are expected to prepare dividends (Money) to start marching into shareholders’ accounts. Here’s the latest list of dividends that have been announced, and the last day to buy shares that qualify for the payout is within the month. Italtile Limited will be paying R0.27 per …