South Africa

African Development Bank Group (www.AfDB.org) Vice President Solomon Quaynor has concluded a tour of Export Trade Group (ETG)'s southern Africa operations, signalling the potential for stronger partnership with the agribusiness giant to boost livelihoods on the continent.

Mr Quaynor, responsible for Private Sector, Infrastructure and Industrialisation, and four others from the Bank, visited ETG's operations in Mozambique, Malawi, Zambia and Zimbabwe last week, where they saw first-hand the impact of the firm's diverse agribusiness value chains and trade, supported by massive human capital and assets, including large warehouses and industrial machinery.

The Bank's team included Richard Ofori-Mante, Acting Director of Agricultural Finance and Rural Development; Damian Ihedioha, Division Manager for Agribusiness; Bleming Nekati, Chief Trade Finance Officer; and Patrick Mabuza, Principal Research Economist. They were joined by ETG's Joint CEO, Birju Patel and the Group Chief Treasury Officer, Paul Van Spaendonk.

Quaynor described the trip as “a development banker's dream”. “This has been a deeply insightful trip to Export Trading Group's integrated agro-industrialization operations in Mozambique, Malawi, Zambia and Zimbabwe. With a presence in over 30 countries, this glimpse into ETG's operations was a development banker's dream,” he said.

During the four-day trip, the Bank team visited ETG's fertilizer terminal, an inland container depot, fertilizer processing and blending plants, soya vegetable oil refineries, giant warehouses, some of which were filled with tonnes of grains, collection depots, plastic and candle factories, cashew processing plant and a textile factory.

Quaynor's team also interacted with farmer groups, including several women, agribusiness cooperatives and employees of ETG. The meetings provided useful insight into the scale and diversity of the company's activities in Southern Africa. Quaynor also used the opportunity to affirm the African Development Bank's commitment to help boost food production in Africa and foster inclusive development by investing in proven agri-businesses such as ETG.

He noted that the company's operations in Africa go beyond economic growth. “They strive to industrialise Africa, develop smallholder farmers, empower women, create jobs, engage with communities, achieve sustainability and develop value chains,” Quaynor said.

The Vice President said he was impressed with the Group's versatility in managing its diverse portfolio successfully amid persistent local and global headwinds. He noted that they are an innovative agro-industrialist, agro-infrastructure and financially hedged global company with core operations in Africa.

“We believe that ETG is a viable company that is committed to building a brighter future for Africans with gender equality, livelihood opportunities, self-sufficiency, community well-being, environmental stewardship, and collaboration from the pillars of inclusive and sustainable development in Africa. We are proud to be strategic partners with ETG on this remarkable growth story,” Quaynor said.

ETG, a global conglomerate with operations across multiple sectors, is present in 48 countries across five regions, including 30 African countries, where it runs more than 90 industrial plants and around 350 gigantic warehouses. It has a diverse portfolio spanning agriculture, logistics, infrastructure, agro-food processing, energy, minerals and supply chain optimisation.

The company has generated massive employment, including for youth and women. South Africa and Zambia are key countries for both origination and destination, with West Africa forming a key source of cocoa, sesame, and cashew and East Africa a key origin for pulses, sesame, coffee and edible nuts.

ETG CEO Patel underscored the impact of the partnership with the African Development Bank over the last eight years and stressed the Group's commitment to continue working together to improve livelihoods across Africa, “It is always exciting to cultivate partnerships with like-minded organisations that share our unwavering passion for the continent and its people”.

“Our steadfast dedication to enhancing livelihoods through facilitation of trade and market linkages, infrastructure development, agricultural support encompassing yield-enhancing inputs, agronomy services, and sustainable farming practices training, as well as strategic social investments, remains resolute and unyielding. We look forward to strengthening our relationship with the African Development Bank and creating a positive impact for all our stakeholders.”

The Bank and ETG recently signed a $150 million trade and agri-finance package. It comprises a $60 million facility to enhance the company's export functions, a $60 million agriculture  value-chain programme to boost production by offering top-notch farming tools and expert guidance to farmers in 10 targeted African nations, and a $30 million co-financing from the Africa Growing Together Fund. Disbursement will be concluded before the end of August 2023.

In 2016, the Bank provided a $100 million corporate loan with a seven-year tenor to finance ETG's capital expenditure investment programme covering fertiliser facilities, processing plants, and multi-commodity warehouses across Africa. This was followed by an additional $100 million Soft Commodity Finance Facility to support the firm's short-term import and export working capital.

These facilities supported ETG's operations in Benin, Burkina Faso, Ghana, Kenya, Malawi, Tanzania, Zambia, and Zimbabwe, creating over 6,710 jobs (including 1,290 for women) and significantly contributing to tax revenues across the continent. 

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

Media Contact:
Kwasi Kpodo
Communication and External Relations
w.kpodo@afdb.org

Technical contact:
Bleming Nekati
Financial Sector Development
b.nekati@afdb.org 

Bridge Taxi Finance (“Bridge Taxi”), a Mokoro Holdings subsidiary, is a development company offering finance and support products to the minibus taxi industry in South Africa. This includes strategic investments and associations in various industries supporting the developmental finance chain, from taxi finance to logistics, credit solution services, supply of parts, and vehicle servicing.

South Africa's taxi industry plays a vital role in the country's economy, accounting for over 70% of all public transport trips, and is the most widely used form of public transport in Africa. The EUR 10 million facility from Triodos Investment Managers is an introduction and a part of a strong pipeline of international development finance and impact investors looking to join hands in financing Bridge Taxi Finance. The recent funding is part of the Common Terms Agreement (CTA) structure created for international impact investors to standardize and simplify security sharing among like-minded investors.

Bridge Taxi's clients, the drivers, are entrepreneurs running/ owning a taxi business. The company is currently financing over 4 700 entrepreneurs. Over 15 million South Africans make use of minibus taxis to get to and from work every day. Bridge Taxi finances financially excluded individuals and provides them with an opportunity to own income-generating assets, enabling them to contribute positively to the economy. With an estimated 250 000-280 000 minibus taxis operating in the country's formal routes, there is a significant monthly supply gap of minibus taxis. Bridge Taxi is addressing this supply gap by importing new, safer vehicles, which meet EURO IV and V emissions standards. These new vehicles imported are replacing the old fleet which has higher carbon emissions and is dangerous to public safety and the environment. Bridge Taxi has plans to offer electric vehicles in the coming years, and feasibility studies have already commenced. Bridge Taxi is majority owned by the founders who have more than 20 years of experience in development finance.

The transaction is the first introduction of a simplified and seamless investment structure for international impact investors into the inclusive finance sector in South Africa. Verdant Capital is continuing to work with Bridge Taxi Finance as its sole advisor to bring in longer-term international capital.

Distributed by APO Group on behalf of Verdant Capital.

Media enquiries:
Verdant Capital:
Liezel van Greunen,
T: +27 10 140 3700
E: liezel.vangreunen@verdant-cap.com

About Verdant Capital:
Verdant Capital is an investment manager and investment bank specialising in the private capital markets and operating on a pan-African basis. Verdant Capital is the manager of the Verdant Capital Hybrid Fund. www.Verdant-Cap.com

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President Cyril Ramaphosa wishes Prince Mangosuthu Buthelezi a speedy recovery.

Prince Buthelezi has been unwell and is hospitalised in the Intensive Care Unit (ICU).

President Ramaphosa has communicated with the Buthelezi family, who have briefed him about Prince Buthelezi's health condition.

The President has expressed his well wishes and conveyed that his heartfelt prayers are with Prince Buthelezi and the family. 

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

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The five countries of MIKTA, such as Mexico, Indonesia, Türkiye, and Australia held the Batik and Wire Jewelry in cooperation with North West Province Government, South Africa (27-28/7) at Sun City Convention Center, Rustenburg.

The training which was held within the framework of Indonesia's chairmanship in the intra-regional forum for middle-power countries, raised the theme of inclusive economic recovery as one of Indonesia's chairmanship priorities in 2023.

The cooperation between MIKTA and North West Province was done by recruiting 50 training participants from the province who came from vulnerable groups economically affected after the Covid-19 pandemic, consisting of women, youth and disabled.

The participants of the two-day training for both batik and jewelry appeared highly enthusiastic, as conveyed by Ellen Modi, one of the local designers who participated. “As a participant, we are very happy with this activity which gave us new insights about Batik. This is a chance for us to develop our design skills, especially in Batik".

The training activities involved Indonesian instructor, Venny Afwany Alamsyah from Batik House Indonesia and were witnessed by officials of embassies from every MIKTA country in Pretoria, South Africa, namely Republic of Korea Ambassador, Chull-joo Park; Türkiye Ambassador, Ayşegül Kandaş; and Australia Ambassador, Tegan Brink, and Chargé d'Affaires ad Interim of the Embassy of Mexico, Elía del Carmen Sosa Nishizaki; KUAI Indonesian Embassy (KBRI) Pretoria, Victor J. Sambuaga. These officials also had the opportunity to try making batik on the sidelines of the activity.

To represent his colleagues, the heads of representatives of MIKTA country members, Victor J. Sambuaga, the Indonesian Embassy in Pretoria welcomed the activities initiated by both parties, MIKTA and North West Province. “This is clear evidence of MIKTA country members' contributions as international entities toward accreditation areas, such as South Africa, especially in North West Province. These kinds of activities can hopefully impact the development of small and medium enterprises which of course we all hope together could push the community's economic growth, especially in the North West Province.

In line with Sambuaga, Thabo Mabe, Chief Director of the North West Province Department of Sports, Arts, Culture and Recreation expressed his belief that this activity, which is also a form of cultural exchange for the two countries will produce good results for the beneficiary communities. “We warmly welcome this activity, especially since it will be advantageous for women, youth, and the disabled. The goal is to empower the community through capacity building which is expected to create jobs for the community."

As it is known, Indonesia has set 3 priorities for its chairmanship in 2023, consist of Strengthening Multilateralism, Inclusive Economic Recovery, and Digital Transformation. The echoes of Indonesia's chairmanship began since continuing as chairman of the MIKTA forum from Türkiye since March 2023.

The event was concluded with a recorded message from high-ranking Indonesian officials, the Director General for Multilateral Affairs of the Indonesian Foreign Ministry, Tri Tharyat, and the Deputy Minister of Foreign Affairs of South Africa, Y.M. Candith Mashego-Dlamini.

Distributed by APO Group on behalf of Ministry of Foreign Affairs Republic of Indonesia.

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In the first six months of 2023, 231 rhinos were killed in South Africa. These figures represent an eleven percent decrease (or a decline of 28 animals killed for their horn) compared to the same period last year. Between 1 January and 30 June 2023, poaching trends also continued to show a move away from the Kruger National Park to provincial and private reserves.

Forty two rhino were poached in the Kruger National Park and 143 in KwaZulu-Natal Province from January to June 2023.  Forty six of the rhino killed were in privately-owned nature reserves and 143 in provincially owned reserves.

Because the demand for rhino horn remains a constant threat to rhino populations collaboration between the law enforcement agencies, including the SAPS, DPCI and the Green Scorpions, Customs officials, the Financial Intelligence Centre (FIC) and the National Prosecuting Authority, remain key. These efforts are supported by private security.

An important development in strengthening the collaboration between these role players in order to effectively address the organised nature of rhino poaching and wildlife trafficking, is Cabinet's recent approval in May this year of the National Integrated Strategy to Combat Wildlife Trafficking (NISCWT).  

“This strategy aims to break the illicit value chain of wildlife trafficking in South Africa and beyond its borders. It represents a commitment by government to direct law enforcement ability and effort and mobilize society support to address the threat wildlife tracking poses to national security and the country's rich biodiversity. Although currently our main focus is rhino, the Strategy also aims to address the illegal trade in, and poaching of, other species that are threatened by trafficking syndicates, like abalone” said Forestry, Fisheries and the Environment Minister, Ms Barbara Creecy.

In the first six months of this year our hard work with both the SAPS and the NPA has led to the conviction of 31 offenders. The majority of sentences were custodial. In Skukuza one suspect found guilty of killing 3 rhino and possession of unlawful arms and ammunition was sentenced to an effective 32 years imprisonment.

In another matter, 3 accused, found driving in Kruger National Park, with 5 rhino horns hidden in the vehicle, a hunting rifle with a silencer, ammunition and knives, were convicted for the killing of 3 rhinos in the park, possession of unlawful firearms and ammunition, possession of dangerous weapons and trespassing. Accused 1 and 2 were sentenced to 34 years imprisonment, whilst accused 3 was sentenced to 39 years imprisonment.

In Limpopo, an accused individual was sentenced on a charge of murder, killing of 2 rhinos, unlicenced firearm and ammunition to an effective sentence of 24 years imprisonment.

In the Eastern Cape, 6 accused were convicted on charges of conspiracy to commit rhino poaching (notably no rhinos were killed) and the possession of unlicenced firearm and ammunition and effectively sentenced to imprisonment ranging from 16 to 20 years.

Yesterday was World Ranger Day and so it is important today that we honour the bravery and dedication of the men and women who run our ranger services and who are on the front line of the battle against wildlife poaching.

The role of rangers in supporting the prosecution and sentencing of those arrested for wildlife crimes committed in the Kruger cannot be underestimated. There is strong collaboration between the SAPS forensic teams and SANParks ECI when attending crime scenes to ensure the collection of vital evidence to link suspects to the crime scenes. It is also done to ensure minimum contamination of the crime scene. 

During the meeting held earlier this year with the Director of Public Prosecutions (DPP)'s Environmental Working Group we discussed the challenge relating to the opposing of bail due to the fact that rhino poaching is not listed as a Scheduled Offence. Research is being conducted to propose, if viable, legislative amendments to address this challenge.

Unfortunately, rhino poachers have continued to target the Hluhluwe/iMfolozi game reserve in KwaZulu-Natal where Ezemvelo KZN Wildlife, supported by the Department and iSimangaliso Wetland Park, continues to implement a number of measures to combat rhino poaching.

Among these has been the establishment of a Tactical Operations Joint Control Centre, which now facilitates the SAPS deployments to Hluhluwe/iMfolozi Park (HiP). The Department made available R40 million for the repair and replacement of the boundary fence around the Hluhluwe/iMfolozi game reserve which is regularly breached and through which wild animals can escape to nearby communities.

The National Prosecuting Authority has also designated a prosecutor to facilitate rhino cases in KZN and cases have been prioritised and identified to be expedited through the court processes.

In response to a range of studies that point out collusion between our ranger services and criminal syndicates, the Kruger National Park has developed a holistic Ranger Services – Integrity Management Plan.

This plan aims to improve ranger morale and resilience to corruption by providing services that enhance ranger health and well-being, provide training and counselling, offer a range of financial management services and debt management. The Ranger Service has also enlisted the Association of Savings and Investment South Africa (ASISA) Foundation to provide specialised Financial Literacy Training for all field rangers. This was attended by 334 employees.

SANParks has also established an Integrity Testing System (a Polygraph policy) for new recruits and to support anti-corruption investigations.

To ensure safe passage of tourists en route to the park, SANParks has joined a task team championed by the Deputy Minister of Tourism, Fish Mahlalela, in collaboration with the traditional leaders of adjoining communities, the SAPS and Private Security companies to ensure constant patrols along the identified hotspots en route to the Kruger National Park.

South Africa's national parks are situated in areas of extreme poverty and are surrounded by many vulnerable communities. In order to ensure that communities on the outskirts of parks benefit from tourism and thus help to keep tourists safe, SANParks has held a number of stakeholder engagements with entrepreneurs in the past four years with regard to the provision of goods and services to our national parks. In addition, through Working for Water, Ecosystems and Wetlands programmes, we have created 33 222 Work opportunities for communities living on the outskirts of our national parks.

** Members of the public can report any suspicious activities around wildlife to its environmental crime hotline which is 0800 205 005 or the SAPS number 10111

Distributed by APO Group on behalf of Republic Of South Africa: Department of Forestry, Fisheries and the Environment.

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In line with Section 12 of the Public Service Act as amended, North West Acting Premier Nono Maloyi and MEC for Social Development Lazarus Mokgosi and Social Development Head of Department Relebohile Mafokane have reached a mutual agreement for the latter's temporary transfer to the Office of the Premier. 

This is a lateral transfer which is aimed at stabilising the Department of Social Development. Mr Mofokane's terms and conditions of  employment remain the same and his transfer does not mean any wrongdoing on his part. The transfer is with effect from 02 August 2023.

Acting Premier Maloyi and MEC Mokgosi have subsequently appointed Dr Fezile Ngqobe to act as Head of the Department of Social Development until the post is filled.

MEC Mokgosi would like to thank HoD Mafokane for his understanding and cooperation in reaching this decision. 

Distributed by APO Group on behalf of North West Office of the Premier, Republic of South Africa.

By Esra Erkomay – Oncology Lead, Middle East and Africa, AstraZeneca (https://www.AstraZeneca.com)

Lung cancer, once rare, is now the highest cause of mortality of cancer worldwide. Responsible for more fatalities than breast, colon, and prostate cancers combined. [1]  It claims a life every 18 seconds. In recent years, wealthier countries have recently experienced a significant decline in lung cancer mortality, but in most of the Middle East and Africa incidence and mortality remains high.

It is challenging to gather precise figures on the number of people living with lung cancer in the region, but most recent studies show there were at least 120,000 new cases in 2018, with numbers predicted to have grown since then. [2] [3] Its strong association with tobacco-use leads many people to assume that lung cancer is a condition that only affects smokers. But this is a misperception. Though smoking increases your risk of the disease, anyone can get lung cancer.

The years of life lost to premature deaths, the economic burden of lost productivity and treatment costs, and the long-term effects of illness and treatment on the quality of life of patients and survivors all combine to make lung cancer a serious public health challenge. Our approach to this devastating disease in the Middle East and Africa must change if we are to save lives and improve the overall resilience and sustainability of our health systems.

World Lung Cancer Day is an important opportunity to raise awareness and collectively push for transformative action. Alongside prioritising lung cancer in National Cancer Control programmes and investing in cancer registries to collect sufficient data on the disease, there are three approaches that governments can take to achieve this.

Firstly, screening for lung cancer must be expanded, focusing on high-risk groups. As noted in a 2021 report developed for the Lung Ambition Alliance, nearly a quarter of lung cancer deaths in high-risk populations could be prevented through screening. [4] It is encouraging to note that advances in artificial intelligence (AI) are making screening more accessible and efficient than ever before. To ensure that emerging economies also benefit from these new technologies, AstraZeneca has joined forces with deep-learning developers QURE.ai (https://apo-opa.info/3rPJhWW) to integrate AI diagnostics in the early detection of lung cancer in Turkey, the Gulf, Egypt, Lebanon, Iraq and South Africa. With 30,000 scans already completed in these countries, the partnership aims to increase lung cancer detection at an earlier stage – improving the patient journey and ultimately reducing lung cancer mortality rates.

Secondly, cross-border collaboration can help change how we detect and treat lung cancer. Learning from each other's experiences and mistakes is better for patients and healthcare budgets. Initiatives like Cancer Care Africa, launched in November last year provide valuable insights and build cross-border health ecosystems that address the challenges associated with cancer, including lung cancer. Already, Cancer Care Africa is creating an educational bridge between health care professionals in Egypt and Kenya who work on lung and other cancers, with thousands of health workers benefitting from in-person and virtual peer-to-peer learning which it is hoped can eventually be replicated across the continent.

Finally, sustainability must be at the heart of our health systems. Research indicates that nearly 1 in 10 cases of lung cancer are caused by outdoor air pollution, which means building environmentally friendly health-ecosystems can directly benefit lung cancer outcomes. [5]  Added to that, prevention and early detection programmes save significant resources and energy in the long run, as can new technologies like artificial intelligence (AI) and virtual appointments. This year's COP28 in the UAE is a critical opportunity to strengthen ties between climate and health, and it is exciting to see health firmly on the agenda. By building sustainable health systems, we can ensure equitable access to lung cancer care for all, and vice versa.

On this World Lung Cancer Day, we call on governments, healthcare providers, the private sector, and NGOs to renew their approach to lung cancer in the Middle East and Africa region. The burden of this disease is formidable, and our collective response must rise to meet it. By implementing effective screening programmes, fostering cross-border collaboration, and investing in sustainable health systems, we can reverse the trajectory of lung cancer and provide hope for patients. Let us unite in the fight against lung cancer and strive for a future where this devastating disease no longer claims the lives of so many.

Distributed by APO Group on behalf of AstraZeneca.

The merged group consists of an installed and contracted portfolio of 520 MW in solar power generation and 60 MWh of battery storage which, collectively, have led to a carbon offset of more than 360 000 tonnes of CO₂; it also has an additional energy pipeline exceeding 2 GW, employs 275 people and operates in seven African countries; the merged group is now set to become the leading pan-African clean energy platform providing on- and off-site renewable energy solutions to commercial and industrial customers; the merger is backed by Helios Investment Partners (“Helios”) and African Infrastructure Investment Managers (“AIIM”); the merged group will provide serviced solutions including solar energy, battery storage, wheeling, and energy management, on a large scale, to customers across Africa; the group retains its existing regional management structure with in-country teams in each region.

SolarAfrica Energy (http://www.SolarAfrica.com/) and Starsight Energy (http://www.StarsightEnergy.com/) are pleased to announce the successful completion of their business merger. The merged group is now set to become the leading pan-African clean energy platform providing on- and off-site renewable energy solutions to commercial and industrial customers.

It is well-positioned to serve a wide range of customers with a comprehensive mix of cost-effective solutions, providing power security and carbon reduction.

The merger is backed by Helios Investment Partners (“Helios”) and African Infrastructure Investment Managers (“AIIM”), both of which have decades-long track records of bringing investment to support African innovation.

An expanded solutions portfolio unlocking simple and sustainable access to power

Customers across Africa can access fully serviced clean energy solutions through the merged group. This includes solar energy, battery storage, wheeling and energy management which are all operated and maintained on behalf of the customer.

The merged group's mission is to make power accessible and affordable. The merger will unlock more efficiencies across the group allowing it to take more customers on a green energy journey that solves their power requirements and enables a sustainable future.

“The supply of renewable energy in Sub-Saharan Africa is relatively fragmented with several suppliers in the market. This merger is a substantial step for us and will provide a true pan-African platform to deliver clean renewable energy in key economies,” said Paul van Zijl, Group CEO.

The merged group consists of an installed and contracted portfolio of 520 MW in solar power generation, 60 MWh of battery storage and an additional energy pipeline exceeding 2 GW. The portfolio has led to a carbon offset of more than 360 000 tonnes of CO₂ to date.

“This merger will enhance our current capabilities and allow us to deploy Energy and Cooling as a Service on a much larger scale. This is therefore a story of growth. Not only for Starsight Energy and SolarAfrica but also for the renewable energy landscape in Africa,” Van Zijl added.

Powering Africa through affordable, clean energy

In addition to key markets Ghana, Kenya, Namibia, Nigeria and South Africa, the group is working on imminent expansion into Tanzania and Uganda. It brings a range of renewable energy solutions to the table, with solar energy, battery storage and cooling at the top of the list.

“We are excited about making a meaningful contribution to power supply on the continent through our on- and off-site solutions. This will help take pressure off national grids which have been under significant strain in many of the core African markets,” said Charl Alheit, Group Chief Investment Officer.

Providing these solutions to more businesses can also go a long way in developing distributed renewable energy frameworks in each region.

In-country focus unlocks continent-wide growth

The merged group will retain a strong presence within the various countries to further strengthen its footprint across Africa.

“We do not believe in a fly-in fly-out model and will have ‘boots on the ground' in our geographies. Our country teams consist of dedicated in-country management as well as sales and technical teams who represent our ethos, whilst being supported by the wider group management,” said Van Zijl.

“It's important to have strong representation in each geography with teams who know and understand their markets and are passionate about transforming these markets into green energy hubs. That's something both SolarAfrica and Starsight Energy have always had in common: we know that the people in our business have always been the reason for our success, and this new chapter will be no different,” Alheit concluded.

Leveraging existing knowledge and capabilities

Both Starsight Energy and SolarAfrica are represented in the group executive management team, combining their expertise and experience.

• Paul van Zijl assumes the role of Group Chief Executive Officer (formerly Group Chief Financial Officer of Starsight Energy)
• Charl Alheit assumes the role of Group Chief Investment Officer (formerly Chief Investment Officer for SolarAfrica)
• Max Rieg assumes the role of Group Commercial Director (formerly Commercial Director of Starsight Energy)

The group will also retain its regional management structures, with David McDonald (Southern Africa), Emmanuel Ayifa Baah (Ghana), Ladi Sanni (Nigeria) and Rupesh Hindocha (East Africa) leading their respective regions.

Distributed by APO Group on behalf of SolarAfrica.

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The National Treasury and the South African Revenue Service (SARS) today publish, for public comment, the 2023 draft Rates and Monetary Amounts and Amendment of Revenue Laws Bill (2023 draft Rates Bill), the 2023 draft Taxation Laws Amendment Bill (2023 draft TLAB), the 2023 draft Tax Administration Laws Amendment Bill (2023 draft TALAB), draft Regulations in terms of paragraph (d) of the definition of “Research and Development” in section 11D(1) of the Income Tax Act, 1962, on additional criteria for multisource pharmaceutical products, draft Regulations in terms of paragraph (e) of the definition of “Research and Development” in section 11D(1) of the Income Tax Act, 1962, on criteria for clinical trials in respect of deduction for research and development; draft Regulations on domestic reverse charge relating to valuable metal in terms of section 74(2) of the Value-Added Tax Act, 1991 and draft Carbon Offset Regulations.

These draft tax bills and draft Regulations give effect to the 2023 Budget tax proposals, which were outlined in Chapter 4 and Annexure C of the 2023 Budget Review. In addition, draft Explanatory Memoranda containing a comprehensive description of the proposed tax amendments contained in the 2023 draft TLAB and regulations are published, to assist the public on the background and reasons for any proposed change, and the proposed amendments. A Draft Memorandum on the Objects on the TALAB is also published to assist the consultation process.

2023 Draft Rates Bill

The 2023 draft Rates Bill was first published on Budget Day (22 February 2023) but is published for the second time for public information. The 2023 draft Rates Bill contains tax announcements made in Chapter 4 of the 2023 Budget Review that deal with changes to the rates and monetary thresholds and increases of the excise duties. Key tax proposals contained in the 2023 draft Rates Bill include the following:

• Changes in rates and monetary thresholds to the personal income tax tables
• Changes in monetary thresholds for transfer duty
• Increases of the excise duties on alcohol and tobacco

2023 Draft TLAB

The 2023 draft TLAB contains the necessary legislative amendments required to implement the more complex tax announcements made in Chapter 4 and Annexure C of the 2023 Budget Review (ie those not dealing changes in a rate or threshold of a tax) that involves more complex policy and technical amendments and requires greater consultation with affected stakeholders and the public. Key tax proposals contained in the 2023 draft TLAB include the following:

• Rooftop solar tax incentive
• Renewable energy tax incentive
• Research and Development tax incentive
• Urban Development Zone tax incentive
• Adjusting the minimum royalty rate for oil and gas companies
• Reviewing principles contained in Practice Note 31 of 1994
• Clarifying anti-avoidance rules dealing with third-party backed shares
• Refining the provisions applicable to unbundling transactions
• Tax treatment of deposit insurance scheme
• Clarifying the foreign business establishment exemption for controlled foreign companies
• Refining the participation exemption for the sale of shares in foreign companies
• Reviewing the VAT treatment of specific supplies in the short-term insurance industry
• Clarifying the VAT treatment of prepaid vouchers in the telecommunications industry

2023 Draft TALAB

The 2023 draft TALAB contains the legislative amendments dealing with tax administration announced in Chapter 4 and Annexure C of the 2023 Budget Review, that also require greater consultation with the affected stakeholders and the public. Key tax proposals contained in the 2023 draft TALAB include the following:

• Advance Pricing Agreement Programme
• Employees' tax registration requirement for non-resident employers
• Variation of employees' tax withholding in respect of remuneration
• Expanding the general disclosure provisions for section 18A approved organisations
• Single window for advance passenger information and passenger name record data
• Enabling SARS' new online traveller management system
• Expending the time period to submit a return where taxpayers disagree with an auto- assessment.
• Alignment with anti-money laundering and combatting terrorism developments.

Draft Regulations in terms of paragraph (d) of the definition of “Research and Development” in section 11D(1) of the Income Tax Act on additional criteria for multisource pharmaceutical products

The draft Regulations in terms of paragraph (d) of the definition of “Research and Development” in section 11D(1) of the Income Tax Act contain consequential technical amendments aimed at aligning the wording of the Regulations with the proposed changes on Research and Development tax incentive, announced in Chapter 4 of the 2023 Budget Review.

Draft Regulations in terms of paragraph (e) of the definition of “Research and Development” in section 11D(1) of the Income Tax Act on criteria for clinical trials in respect of deduction for research and development

The draft Regulations in terms of paragraph (e) of the definition of “Research and Development” in section 11D(1) of the Income Tax Act contain consequential technical amendments aimed at aligning the wording of the Regulations with the proposed changes on Research and Development tax incentive, announced in Chapter 4 of the 2023 Budget Review.

Draft Regulations on domestic reverse charge relating to valuable metal in terms of section 74(2) of the VAT Act, 1991

The draft Regulations on domestic reverse charge relating to valuable metal contain the following key tax proposals announced in Annexure C of the 2023 Budget Review:

• Clarifying the definition of “residue”
• Clarifying the definition of “valuable metal”
• Clarifying the exclusions from the definition of “valuable metal”
• Introducing a de minimis rule in the definition of “valuable metal”
• Aligning the definition of “valuable metal” with the Precious Metals Act, 2005
• Clarifying the transitional measures
• Clarifying the responsibilities of the recipient of valuable metal

Draft Carbon Offset Regulations

The draft Carbon Offset Regulations contain the following key tax proposal announced in Annexure C of the 2023 Budget Review:

• Aligning the utilisation period in the Carbon Offset Regulations with the extension of the first phase of the carbon tax, i.e., from 1 January 2023 to 31 December 2025.

The public consultation process for tax proposals is a critical element of the tax legislative process and differs from the consultative processes for other money bills.

After receipt of written comments, National Treasury and SARS normally engage with stakeholders through public workshops to discuss the written comments on the draft tax bills and draft regulations.

With regard to the 2023 draft tax bills, the Standing Committee on Finance (SCoF) and the Select Committee on Finance (SeCoF) in Parliament are expected to make a similar call for public comment and convene public hearings on the 2023 Rates Bill, 2023 draft TLAB and 2023 draft TALAB before their formal introduction in Parliament. Thereafter, a response document by the National Treasury and SARS will be presented on the comments received to the parliamentary committee meetings, after which the draft bills will then be revised, taking into account public comments and recommendations made during committee hearings, before they are introduced formally in Parliament for its consideration. For legal reasons, the draft tax amendments continue to be split into two types of bills, namely a money bill (section 77 of the Constitution) dealing with money bill issues and an ordinary bill (section 75 of the Constitution) dealing with issues relating to tax administration.

With regard to the draft regulations, National Treasury and SARS will also engage with stakeholders through public workshops to discuss their written comments. The Notices on Regulations in terms of paragraph (d) of the definition of “Research and Development” in section 11D(1) of the Income Tax Act, 1962, on additional criteria for multisource pharmaceutical products, Regulations in terms of paragraph (e) of the definition of “Research and Development” in section 11D(1) of the Income Tax Act, 1962, on criteria for clinical trials in respect of deduction for research and development; Regulations on domestic reverse charge relating to valuable metal in terms of section 74(2) of the Value-Added Tax Act, 1991 and Carbon Offset Regulations will then be published in the Government Gazette after taking into account public comments received.

The 2023 draft tax bills, the accompanying draft Explanatory Memoranda containing a comprehensive description of the proposed tax amendments contained in the 2023 draft TLAB and TALAB, and draft Regulations can be found on the National Treasury (www.treasury.gov.za) and SARS (www.sars.gov.za) websites.

More general information underlying the changes in rates, thresholds or any other tax amendments can be found in the 2023 Budget Review, available on the National Treasury website.

Due date for public comments on the 2023 draft tax bills and draft regulations

National Treasury and SARS hereby invite comments in writing on the 2023 draft Rates Bill, the 2023 draft TLAB, 2023 draft TALAB, the draft Regulations in terms of paragraph (d) of the definition of “Research and Development” in section 11D(1) of the Income Tax Act, 1962, on additional criteria for multisource pharmaceutical products, the draft Regulations in terms of paragraph (e) of the definition of “Research and Development” in section 11D(1) of the Income Tax Act, 1962, on criteria for clinical trials in respect of deduction for research and development; the draft Regulations on domestic reverse charge relating to valuable metal in terms of section 74(2) of the Value-Added Tax Act, 1991 and the draft Carbon Offset Regulations.

Please forward written comments to the National Treasury's tax policy depository at 2023AnnexCProp@treasury.gov.za(link sends e-mail) and SARS at acollins@sars.gov.za(link sends e-mail) by close of business on 31 August 2023.

Distributed by APO Group on behalf of National Treasury, Republic of South Africa.

The 19^th edition of the Basketball Without Borders (BWB) Africa camp tipped off at the American International School of Johannesburg (AISJ) in South Africa this morning.

Forty girls and 40 boys from more than 25 African countries – including 19 NBA Academy Africa and NBA Academy Women's Camp Africa 2022 prospects – participated in skills development stations and evaluation games, with the female campers also taking part in a Her Time to Play seminar led by NBA Africa leadership and WNBA legends.

Following the on-court activities, the NBA delegation visited Nelson Mandela Children's Hospital and donated medical and rehabilitation equipment for the Burns Unit.  The visit was led by NBA Africa CEO Victor Williams, NBA Africa Head of Strategy and Operations George Land, four-time WNBA champion Sheryl Swoopes and 2011 NBA champion Ian Mahinmi.

The BWB Africa 2023 camp continues today with morning skills sessions led by NBA and WNBA current and former players and coaches, followed by a court unveiling in the Alexandra Township in the afternoon.

Please find the images from the first day of the camp here (https://apo-opa.info/3OlkCBc) (Please credit NBAE/Getty Images).

Distributed by APO Group on behalf of National Basketball Association (NBA).

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The Deputy Minister of International Relations and Cooperation, Mr Alvin Botes, has concluded his successful Working Visit to the Republic of Chile and the Oriental Republic of Uruguay, which took place from 22 – 26 July 2023.

The purpose of the visits was to strengthen political, economic and social relations as well as multilateral cooperation.

In Santiago, Chile, the Deputy Minister commenced his visit by co-chairing the Eighth Joint Consultative Mechanism (JCM) between South Africa and Chile. The meeting discussed areas of mutual interest which include Education; Mining; Science and Innovation; Social Development; Sport, Arts and Culture; Trade and Investment and Parliamentary Relations.

The Deputy Minister also met with the Chile–South Africa Chamber of Industry, Commerce and Tourism, which included CEOs of South African and Chilean companies, to discuss cooperation in trade and investment and exchanged notes on multilateral issues of mutual concern.

The Deputy Minister concluded his visit to Chile by launching the Exhibition on the 10th Year Remembrance of Nelson Mandela at the Museum of Memory and Human Rights in Santiago.

In Montevideo, Uruguay, the Deputy Minister co-chaired the Second Meeting of the South Africa and Uruguay Bilateral Consultations Mechanism (BMC) on Wednesday, 26 July 2023.

The two countries review progress since the first meeting of 2022 and discussed areas of bilateral cooperation in Agribusiness; Sport; Arts and Culture; Education; Energy; Mining; Social Development; Science and Technology; and Trade and Investment and exchanged notes on multilateral issues of mutual concern.

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

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The Government of the Republic of South Africa condemns the coup d'état in the Republic of Niger and calls on the military establishment to ensure the safety of President Mohamed Bazoum. The Government further calls for the return of the military forces to their barracks and to ensure the speedy restoration of the democratic order in Niger.

The South African Government strongly rejects unlawful seizure of power by any group or individual as this reverses democratic gains and development and threatens the realisation of Africa's aspiration for a better Africa.

South Africa fully supports the positions of ECOWAS, the African Union and the United Nations in their call for all parties to return to constitutional rule urgently and unconditionally and to refrain from further interference with the democratically elected Government of the Republic of Niger.

South Africa encourages the international community to continue to support the people of Niger, the initiative by ECOWAS, and the fundamental role of the civilians in the transitional process leading towards the restoration of normalcy and civilian-led government in the country.

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

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Today, President Abdel Fattah El-Sisi met with President of South Africa, President Cyril Ramaphosa, on the sidelines of the 2nd Russia-Africa Summit held in St. Petersburg.

The Spokesman for the Presidency, Counselor Ahmed Fahmy, stated that President El-Sisi assured Egypt's aspiration to strengthen the historic bilateral relations between the two fraternal countries and to operationalize the frameworks for joint cooperation in various areas, particularly with regard to increasing trade, exploring opportunities for mutual investment, to achieve the common interests of both sides, as well as continuing coordination on issues of mutual interest on the African continent.

President Ramaphosa underscored South Africa's keenness to develop cooperation relations with Egypt, push it towards greater prospects of joint action, as well as continue to consult with Egypt on the issues and challenges facing Africa, particularly in view of Egypt's leading role at the African level, and its efforts to advance the development process and to maintain peace and security on the African continent.

The talks also witnessed the latest regional developments at the continental level, as well as the most important developments of mutual interest at the international level, in particular the Russian-Ukrainian crisis. The leaders exchanged views on the developments of the African Crisis Mediation Initiative, of which Egypt and South Africa are members.

Distributed by APO Group on behalf of The Presidency, The Arab Republic of Egypt.

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Today in St. Petersburg, President Abdel Fattah El-Sisi participated in a meeting of African leaders on the African mediation initiative to settle the Russian-Ukrainian crisis. Also in attendance were President of the Union of the Comoros and current Chairman of the African Union, Azali Assoumani; President of the Republic of South Africa, Cyril Ramaphosa; President of the Republic of the Congo, Denis Sassou N'Guesso; President of the Republic of Senegal, President Macky Sall; and President of the Republic of Uganda, Yoweri Museveni.

Spokesman for the Presidency, Counselor Ahmad Fahmy, said the African leaders followed-up on progress in the executive status of the initiative, particularly after the visit by an African delegation to both Russia and Ukraine last June, in a bid to contribute, in earnest, to current endeavors to solve the crisis between the two countries. They reiterated the continent's ongoing support to all efforts aimed at settling the Russian-Ukrainian crisis, given the crisis' grave economic repercussions on the economies of African states and on maintaining international peace and security.

Distributed by APO Group on behalf of The Presidency, The Arab Republic of Egypt.

Vantage Capital (http://www.VantageCapital.co.za), Africa's largest mezzanine fund manager, announced today that it closed a €30 million equity investment for the acquisition of a significant minority stake in Promamec, a Moroccan medical distribution business. The funds invested by Vantage Capital facilitated the exit of the private equity fund AfricInvest and will also serve to part-fund Promamec's next phase of development.

Promamec was founded in the early 1980s by the Lahlou family. The company is one of the leading medical consumables and equipment distributors in Morocco and is also among the few players engaged in local production of medical consumables – an activity that the company aims to sizably develop over the next few years.

This investment will enable Promamec to finance its development plan that involves building a new production plant, broadening its portfolio by launching new product categories, and strengthening its positioning in sub-Saharan Africa.

Mr. Naoufal Lahlou, CEO of Promamec, commented “We are delighted to welcome into our shareholding Vantage Capital, a leading pan-African investment firm. With Vantage Capital's support, we aim to execute our ambitious growth plan, which consists of diversifying our current product range, increasing our production capacity and, above all, expanding our geographical presence in sub-Saharan Africa. Since our very first discussions, Vantage Capital has demonstrated its total alignment with our vision.”

Mr. Luc Albinski, Executive Chairman at Vantage Capital, added, “We are proud to have concluded our third Moroccan deal. This deal also marks our second investment in Morocco's buoyant healthcare sector, which is undergoing massive development thanks to both public and private investments. We are very enthusiastic about accompanying Promamec in achieving its ambitions and contributing to the improvement of healthcare in the Kingdom.”

Mr. Driss Benabdeslam, Associate Partner at Vantage Capital, concluded, “We are very happy about this investment in one the Kingdom's main medical suppliers. It is great to know that our funds and strategic support will be dedicated to a company operating in such a key sector. We are also pleased to partner with a highly seasoned and committed team, with whom we look forward to taking Promamec to the next level. We would like to thank the Lahlou family for their trust and willingness to welcome us as new shareholders.”

This transaction represents Vantage Capital's 35^th investment across four generations of mezzanine debt funds with its portfolio of investments spread across eleven African countries. Promamec also marks Vantage Capital's third investment in Morocco, thus reinforcing its presence in one of its key target markets.

Vantage Capital was advised by Derenia Capital who acted as buy-side advisor for the transaction, and by Clifford Chance (in Morocco) who acted as its legal counsel. PwC (in Morocco) and Webber Wentzel (in South Africa) provided tax advice, PwC & Deloitte (in Morocco) were the financial advisors, Strategy& (part of the PwC network in Morocco) provided commercial advice, and Ibis Consulting (in Morocco) reviewed the environmental impact.

Promamec and AfricInvest were advised by Allen & Overy (in Morocco) and Cabinet Atlassi who acted as their legal counsel and by Smyle Finance who acted as sell-side advisor. A&B Associés acted as legal counsel to the Lahlou family.

Distributed by APO Group on behalf of Vantage Capital Group.

For more information contact:
Luc Albinski                                                                                          
Executive Chairman                                                      
lalbinski@vantagecapital.co.za
Tel: +27 83 390 7703

Driss Benabdeslam
Associate Partner
driss@vantagemezzanine.com
Tel:  +33 7 86 67 53 98                   

About Vantage Capital:
Founded in 2001, Vantage Capital is an Africa-focused fund manager that has raised funds of over $1.6 billion.

Since 2006, Vantage Capital's Mezzanine division has made 35 investments across four successive funds into 11 African countries, making it the largest and most experienced independent mezzanine funder on the continent. In addition, Vantage Capital's GreenX division has made fourteen senior debt investments into South African solar and wind energy projects across two funds.

Vantage Capital targets equity and mezzanine debt opportunities of $10-50m across more than a dozen key African markets.

Mezzanine debt is an intermediate form of risk capital, which is situated between senior debt, the least risky tranche of the capital structure, and equity, the riskiest. It combines elements of both debt and equity thereby providing companies with long-term funding on terms which are less dilutive to shareholders than pure equity.

In addition to the mezzanine debt division and the renewable energy debt business, Vantage Capital recently launched an education investment platform targeting Poland, Czechia, Romania, and Portugal.

Website: www.VantageCapital.co.za

About Promamec:
Founded in 1981, Promamec is the second largest player in Morocco's medical consumables and equipment market, and one of the pioneers in local production of consumables in the Kingdom. The company also stands as the distributor with the most diversified offering in terms of medical specialties covered.

Promamec was founded by Mr. Abdelilah Lahlou, who seized the opportunity to create a new player in the market in the context of the departure of French companies operating in the healthcare sector in the 1970s. The company started its operations in the distribution of medical consumables before expanding into the medical equipment field and gaining the trust of multiple global medical products' manufacturers such as Baxter, Johnson & Johnson, and 3M.

In 2006, Mr. Naoufal Lahlou was appointed as CEO with the objective of further improving the company's organization, strengthening partnerships with manufacturers, and developing exports to sub-Saharan Africa.

In addition to the distribution activity, Promamec operates a production and assembly unit located in Ain Sebaa, Casablanca, where it produces a diversified range of medical consumables such as dialysis sets, gauze bands, sheets, gowns, etc.

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Minister of Forestry, Fisheries and the Environment, Ms Barbara Creecy is travelling to India to participate in the G20 Environment and Climate Sustainability Ministerial meeting in Chennai, India, later this week.

The Ministerial meeting will consider recommendations prepared by senior officials in the G20's Environment and Climate Sustainability Working Group (ECSWG).

The Indian G20 Presidency has focused on three priority issues under the ECSWG, namely:

1. Arresting land degradation and accelerating ecosystem restoration via an ecosystem-based approach, and enriching biodiversity

2. Promoting a sustainable and climate-resilient blue economy to protect the natural environment and the lives and livelihoods dependent on marine resources

3. Encouraging resource efficiency and circular economy to move towards sustainable production and consumption systems.

Climate change issues are mainstreamed in discussions across the thematic working groups of the G20 and will therefore also feature prominently in the Environment and Climate Sustainability Ministerial meeting.

South Africa has an important role to play in the G20 in advancing an ambitious environment and climate agenda in the context of sustainable development and seeks to ensure that priority issues of African and fellow developing countries are included in G20 outcomes.

In this regard, developing countries are keen to ensure that our approach to building environmental sustainability assists with addressing developmental challenges including addressing poverty and ensuring shared prosperity. The support from developed countries for the climate transition and biodiversity agendas of developing countries remains a priority.

The Group of 20 (G20) is an intergovernmental forum comprising 19 countries and the European Union.

Minister Creecy will have an opportunity in India to meet face to face with Minister Dan Jorgensen from Denmark to take forward the task assigned to the two Ministers by Dr Sultan Al Jaber, the incoming COP 28 President to facilitate discussion on the Global Stocktake. The two Ministers hope to begin consultation with some of the parties attending the G20 on an approach to the Global Stocktake.

Distributed by APO Group on behalf of Republic Of South Africa: Department of Forestry, Fisheries and the Environment.