South Africa

In January 2025, the global anti-money laundering watchdog, the Financial Action Task Force (FATF), will review its decision to greylist South Africa and interrogate the public and private sector measures to address its concerns. The country will need to demonstrate a practical, scalable plan to combat money laundering, fraud and other financial crimes. Failing to achieve this will have serious economic knock-on effects, such as a significant decrease in international capital inflows and downgrading by credit rating agencies, all of which will negatively impact the Rand. An extended greylisting is also a serious threat to state-owned enterprises that rely on offshore debt capital markets for funding.

This doesn't need to be South Africa's reality. Mauritius successfully met FATF's criteria and was removed from the grey list in two years. However, this required focused attention and collaboration from the public and private sectors. Now, South African financial institutions are under the spotlight and the country has just 18 months to demonstrate an effective anti-money laundering (AML) strategy. It is sufficient time to make enough strides to reverse the greylisting, as the technology exists to combat money-laundering and financial crime at scale.

Money laundering – banking's Achilles heel

South Africa's greylisting spans a wide range of shortcomings, some of which fall within the remit of the public sector. The private sector, however, can make a concerted effort to combat money laundering and financial crime. While some criminal activity occurs using cash or cryptocurrencies, banks remain vulnerable to money laundering, particularly in cross-border transactions. Currently, only 1% of laundered funds are ever recovered despite the government estimating  R35bn-R143bn is laundered through local financial institutions each year (https://apo-opa.info/3KgdggP).

The root of online financial crime

To successfully combat money laundering and financial crime, banks need to get to the root cause of how these crimes can go undetected. And this root cause is identity.

Murray Collyer, Chief Operating Officer of iiDENTIFii (www.iiDENTIFii.com), says, “If banks want to effectively and reliably counter financial crime, they need to validate one critical piece of information: a person's identity. Banks need the security that a person performing a transaction on the other side of the screen is who they say they are.”

As our lives grow increasingly digital, the ability to counter cybercrime is an urgent consideration.  The global police agency Interpol's Global Crime Trend Report 2022 estimates that over 70% of respondents (all from law enforcement) expect crimes such as ransomware and phishing attacks to increase significantly in the next three to five years. This renders the traditional verification technologies banks favour, such as one-time passwords (OTPs), outdated and a security risk.

Digital security threats to banks

Biometric security threats currently fall into two categories: presentation attacks and digital injection attacks. Presentation attacks refer to photos, videos, or even masks being held up to a screen to fool the technology into mapping the features of the identity being defrauded. On the other hand, digital injection attacks see imagery injected directly into the video stream, either through emulators, hacking tools, or virtual cameras. This directly injected imagery includes sophisticated ‘deepfakes' or ‘face swaps', where AI technology spoofs another person's likeness. iProov, iiDENTIFii's technology partner, reveals in a new 2023 study that there has been a 149% increase in digital injection attacks and a 295% increase in face swaps. With the emergence and growth of face swaps, low-skilled criminals now have the means to launch advanced attacks. Threat actors launched motion-based attacks simultaneously and at scale against hundreds of systems globally.

Collyer adds, “To the untrained eye or technology, face swap synthetic imagery has the characteristics of the genuine individual's facial traits. The imagery can match their government-issued identification photograph during a liveness verification attempt if the technology is not equipped with the latest defences.”

How financial institutions can prepare for 2025

Banks must tackle the challenge head-on to have the robust AML systems and processes required for South Africa's greylisting review. This needs a clear perspective on the current threats and how to mitigate the resulting risks to banks and customers.

Digital injection attack detection needs fundamentally different techniques from presentation attack detection (PAD). Many current biometric systems are not equipped to defend against this fast-growing threat and financial institutions must find a new way to prove identity to prevent money laundering and cyberattacks. The answer lies in the use of ‘liveness' in authentication.

“Simply put, ‘liveness' is the confirmation and verification that there is a human being conducting a transaction on the other side of the screen,” Collyer explains. “While cybercriminals can mine personal data and override certain systems through targeted attacks, it is more difficult to forge a sense of human liveness.”

Many local banks are addressing the challenge head-on. They are upgrading their systems in response to new digital risks. “iiDENTIFii has to date partnered with three leading South African banks to fortify their digital identification and onboarding processes. This is part of a wider banking strategy to protect companies and consumers against AML and fraud,” adds Collyer. “Over the next 18 months, we believe the full impact of this solution will be visible and hopefully play a part in shifting the needle on the greylisting decision.

“Our 4D Liveness is resilient to deepfake and replay attacks. It comprises different colour lights that reflect in a certain sequence off the user's face, which helps determine true biometric liveness. This has been the solution of choice for South Africa's leading banks.”

It is possible to reverse South Africa's greylisting in 18 months. Financial institutions need to refine their focus on digital identity, the central factor in performing safe, verifiable, and authenticated transactions.

Collyer concludes, “We call on financial institutions and the government to embed infallible, enterprise-level and sophisticated biometric authentication into the country's financial services infrastructure. This should not just be a response to our greylisting, but a strategic imperative in an increasingly digitised economic climate where cybersecurity risks abound. If we can demonstrate an ability to combat threats at a global level, this could instill faith in reluctant overseas investors and local customers alike.”

Distributed by APO Group on behalf of iiDENTIFii.

About iiDENTIFii:
iiDENTIFii is an award-winning face authentication and automated onboarding technology platform. It makes use of a frictionless and non-invasive automated proven process that meets customer intelligence, risk and compliance goals, as well as governance and legislative requirements. The technology plugs seamlessly into existing infrastructures, including mobile and web-based platforms.

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President Cyril Ramaphosa has arrived in St. Petersburg in the Russian Federation to lead South Africa's participation in the 2nd Russia-Africa Summit which takes on 27 and 28 July 2023.

The Summit, which aims to foster mutually beneficial cooperation and partnerships between Russia and the African continent, first convened in October 2019 with a commitment to continue meeting every three years. 

This 2nd Summit is expected to consider four declarations and a three-year Action Plan, which will be presented for consideration.

These submissions will focus on strengthening cooperation between Russia and African states in politics, security, trade, science, IT, humanitarian support, education, culture, sports, youth and the environment. 

The declarations also seek to strengthen cooperation in the fight against terrorism, the prevention of an arms race in outer space, and in information security.

Scheduled side events will include an exhibition to showcase investment opportunities in Russia and Africa, an innovation space to demonstrate new technologies, and a Business Development and Social Partnership Zone for networking between the heads of global corporations, government officials, business and the media.

The summit background will also offer an opportunity to African Heads of State who are part of the African Leaders Peace Mission to continue talks with President Putin on the confidence-building measures that will create conducive conditions for a path to peace between Russia and Ukraine.

South Africa will use the summit backdrop to further engage Russia at a bilateral level to finalise the contents and substance of the upcoming BRICS summit. 

President Ramaphosa will lead the South African delegation to the Summit, and will be accompanied by Dr Naledi Pandor, Minister of International Relations and Cooperation, and Ms  Khumbudzo Ntshavheni, Minister in the Presidency. 

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

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Minister of Health, Dr Joe Phaahla calls for continued vigilance as the country records another imported laboratory-confirmed case of cholera from a 24 year- old South African man with travel history from Karachi in Pakistan.

The patient arrived in the country on the 16^th of July from Pakistan which is known to be cholera endemic, where he experienced abdominal cramps, vomiting and diarrhoea symptoms after a meal on the 14^th of July 2023. He reported that he had diarrhoea, but did not immediately seek medical attention while in Pakistan, and he only rehydrated himself using bottled water because he didn't suspect any foodborne illness.

On his arrival through King Shaka International Airport, he felt dehydrated and was taken to a Private Hospital in Durban to seek medical help and he was then admitted on the 18^th of July while his specimen was sent to the National Institute for Communicable Diseases (NICD) for laboratory testing. The results came back positive with cholera toxin on Monday, 24 July 2023. He has been discharged and recovering well at home.

The outbreak response team has effected contact tracing and identified four family members and one friend he stayed with while in Pakistan. None of the contacts identified are presenting with cholera symptoms and are on continuous close monitoring. On the other hand, water samples were collected from the patient`s place of residence and taken for laboratory testing at the National Health Laboratory Service.

This case increases the total number of imported cholera cases recorded this year to three, following two cases detected from two people who travelled from Malawi. The country has recorded a total cumulative number of 199 laboratory-confirmed cases since February this year. The last positive case was recorded on the 19^th of June in Hammanskraal under Tshwane District.

While the situation is under control from the recent cholera outbreak in some parts of the country, Minister Phaahla urges the public to stay alert and maintain high level of personal hygiene at all times to prevent possible transmission of waterborne and foodborne diseases.

Distributed by APO Group on behalf of Republic of South Africa: Department of Health.

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The Southern Africa region has seen a slowdown in economic growth over the past year as its largest economy, South Africa, confronts multiple challenges. Civil unrest, electricity crisis and natural disasters have contributed to dampen prospects for the region, which is lagging behind the others in Africa, according to the African Development Bank's (www.AfDB.org) new economic report.

The 2023 Southern Africa Economic Outlook, launched on Monday 24 July, analyses the recent economic trends and developments in Southern Africa. In line with this year's theme for the annual outlook: mobilizing private sector financing for climate and green growth in Africa, the report also explores the potential role of the private sector in financing the region's climate action and green growth ambitions.

In 2022, the Southern Africa region's GDP growth barely reached 2.7 percent, a level much lower than global and African averages of 3.4% and 3.8 %.

The slowdown in South Africa has been mirrored in other countries within the region such as Zimbabwe, Zambia, Malawi, Madagascar, and São Tomé and Príncipe, which have also experienced intense adverse weather events, the report said.

Growth in the region is expected to slow down further in 2023 to 1.6%, followed by a slight improvement - 2.7% - in 2024. Weighing down the environment further is the external debt burden which is forecast to remain high across the Southern Africa region. In 2022 it stood at 48%.

“Per capita income growth for most countries in the Southern Africa region is short of the growth rate needed to reverse the increase in poverty induced by the (Covid-19) pandemic and to put the region on track to meet the SDG1. High poverty and inequality rates remain endemic across the Southern Africa region,” the report noted.

External debt which stood at 48% in 2022, is forecast to remain high across the Southern Africa region. Overall, debt exposure is mixed within southern African countries. However, the fiscal deficit improved slightly in 2022 at 3.5% of GDP in 2022, compared to 3.7% of GDP in 2021.

The report links the slow regional performance to “lingering political and structural issues in South Africa, which drags down regional growth, and Russia' invasion of Ukraine, which continues to put pressure on energy and food prices. “

The report also notes that falling per capita income growth for most countries in the Southern Africa region threatens the growth rate needed to reduce poverty, while sluggish growth is weighing on youth employment. Unemployment is described as “one of the region's biggest challenges.”

Southern Africa's $90 billion annual climate action requirements offer investment potential

Speaking during the launch, Kevin Urama, African Development Bank vice president and chief economist commended African governments for their “remarkable resilience,” in the face of recent challenges.

Quoting from the report he said financial needs for climate action in southern Africa stood at $1 trillion, with an annual requirement of $90.3 billion for 2020-2030. Average annual climate finance flows to Southern Africa stand at $6.2 billion, a mere 6.9% of what is required. Southern Africa, in addition, received the least financial flows relative to its financial needs, compared to other African regions.

Most southern African countries receive financing for mitigation projects rather than investment in adaptation, the main need. This underlines the urgency of finding new ways to mobilize financing to address Africa's development challenges, Urama said.

“We estimate that the continent will need about $235-$250 billion annually between now and 2030 to meet investments needed under the Nationally Determined Contributions. So this leaves Africa, the African private sector and the global private sector with an investment opportunity of up to $213.4 billion annually to address climate change alone,” he said.

The African Development Bank is spearheading regional initiatives that intersect with climate adaptation, energy transition and sustainability across the entire continent, African Development Bank Director General for the southern Africa region Leila Mokaddem said.  These include financial instruments, green bonds, technical expertise, climate insurance schemes, policy interventions and much more.

“The urgency of regional climate adaptation and climate mediation action is critical for our future. The continent's needs make it imperative for Africa to focus on identifying and assessing disaster, risk, and strengthening collaboration and coordinating appropriate responses,” she said.

In a presentation of the key findings of the report, lead economist for the region Auma George Kararach, noted that limited annual financing for climate change and adaptation, meant that several southern African countries risked failing to meet their Nationally Determined Contributions. Prioritizing development with climate portfolios, using private sector climate finance, still relatively undeveloped in the region, would be essential, he said.

“We need to think of a wide range of financing channels and instruments to do that,” Kararach said.

Acting Director of the Country Economics Department, Ferdinand Bakoup said South Africa's 20% share of Africa's estimated more than $6 trillion natural capital reserves, offered tremendous potential for investors.

“This region can benefit from better management of its natural capital,” Bakoup said.

The African Development Bank's Southern Africa regional office covers 13 countries, diverse in size, income, and natural resources. The region includes two of Africa ten largest economies - South Africa and Angola.

To read the entire report click here (https://apo-opa.info/46X3Ctg).

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

Contact:
Amba Mpoke-Bigg,
Communication and External Relations Department,
African Development Bank;
Email: media@afdb.org

About the African Development Bank Group:
The African Development Bank Group is Africa's premier development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). On the ground in 41 African countries with an external office in Japan, the Bank contributes to the economic development and the social progress of its 54 regional member states. For more information: www.AfDB.org

The African Energy Chamber (AEC) (www.EnergyChamber.org) is proud to announce that it will soon be releasing its highly anticipated Q2 2023 Outlook, ‘The State of African Energy.' This comprehensive report offers a detailed analysis of key trends in the global and African oil and gas industry, with a focus on Africa's upstream outlook, Organization of Petroleum Exporting Countries (OPEC) cuts and compliance, current merger and acquisition (M&A) activities, and the state of play of African renewable energy.

The outlook provides stakeholders with the information they need to make informed decisions about investing in the African energy sector, and represents a must-see for energy stakeholders worldwide.

The Q2 Outlook details global and African 2023 liquids supply, forecasting that the global oil and condensate supply for 2023 will measure around 82.7 million barrels per day (bpd), 700,000 bpd lower compared to Q1 2023 estimates but showing a significant 2% year-on-year increase compared to 2022 levels. In Africa, the 2023 supply is expected to be 6.66 million bpd, marginally higher than 2022 levels. OPEC member nations, especially Nigeria, faced production outages, impacting overall African supply levels. However, the report foresees full compliance with OPEC's 2024 production targets, with Nigeria, Angola, Congo and Gabon actually producing 370,000 bpd less than OPEC targeted production, with only Equatorial Guinea exceeding targets marginally.

As the global oil market reacts to OPEC+ cuts, the Q2 report shows that Brent crude prices are influenced by the recent announcement of additional voluntary cuts by Saudi Arabia. This has led to temporary boosts in prices. However, Brent is expected to remain largely uninspired in the long run, given the persistence of a weak market. The ongoing influx of discounted Russian barrels continues to flood Asian crude and product inventories, further impacting price dynamics.

On the natural gas front, the report highlights the gradual increase in global natural gas supply potential, estimated to rise from just under 400 billion cubic feet per day (bcf/d) in 2023 to over 520 bcf/d by 2035. This growth is driven by expanding potential in the United States, the Middle East, and marginally Africa. However, the ‘commercial' potential is expected to witness slower growth, reaching approximately 440 bcf/d by the early 2030s before eventually declining. In Africa, in the near term, from 2023 through 2027 natural gas supplies are anticipated to be dominated by Algeria, Nigeria, Libya and Egypt, as well as liquefied natural gas supplies from Nigeria and Algeria. These countries are projected to contribute 80% of the African gas output during this period. Additionally, the report notes that the majority of long-term future supplies will be derived from currently undeveloped potential as legacy-producing fields approach a terminal decline without intervention expenditure.

Meanwhile, the Q2 report indicates an increase in Africa's upstream CAPEX spending ‘requirement' from the Q1 2023 forecast of about US$442 billion over the period 2023–2030 to a higher figure of US$457 billion. This rise is attributed to higher brownfield spending and a marginal increase in spending on approved projects, while current pre-FEED discoveries witness a decrease in spending. Most of the greenfield spending in the coming decade is expected to be driven by projects in sub-Saharan Africa, as most resource volumes that are expected to see a Final Investment Decision before 2030 are located in this region.

The outlook additionally provides insight into Africa's upstream sector, stating that exploration activities have seen fruitful results with the discovery of half a billion barrels of oil equivalent (bboe) of recoverable reserves in 2023 so far. Noteworthy discoveries include Namibia's Jonker-1X well operated by Shell Plc and Zimbabwe's Mukuyu-1 well. The Q2 report further outlines high-impact wells to be drilled across Africa in 2023–2024, operated by both international oil majors and E&Ps alike.

Africa's upstream sector has witnessed significant M&A activity this year, with announced and completed transactions totalling over US$1.85 billion. Some notable transactions include the sale of Angolan assets by Galp to Somoil in February and the ongoing Africa Finance Corporation's takeover of Aker Energy in Ghana, set to contribute to the total transaction value with individual values of US$655 million and US$605 million, respectively.

However, the outlook goes one step further to detail Africa's renewable energy capacity forecast. While relatively small compared to other regions, the forecast shows promising growth in the hydrogen space. Several high-activity and capacity announcements have been made in countries such as Mauritania, Egypt, South Africa, Morocco, Namibia and Djibouti. In Q2 2023, the overall announced hydrogen capacity overtook the announced solar capacity in Africa, indicating the potential for further renewable energy growth.

“Amidst the evolving dynamics of the global energy market, the AEC's Q2 2023 Outlook serves as a crucial guide for industry stakeholders. The report's revised projections and in-depth analysis shed light on the impact of production outages, OPEC cuts, and the future of Africa's energy landscape. As Africa continues to play a pivotal role in the global energy sector, this report underscores the need for informed decision-making to drive sustainable growth and development across the continent,” states NJ Ayuk, Executive Chairman of the AEC.

The AEC's Q2, 2023 Outlook, ‘The State of African Energy,' will be available soon. For more information or to register to download your copy of the outlook, visit https://apo-opa.info/46YmrfT

Distributed by APO Group on behalf of African Energy Chamber.

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President Cyril Ramaphosa will participate in the 2nd Russia-Africa Summit which takes place in St. Petersburg in the  Russian Federation on 27 and 28 July 2023.

The Summit, which aims to foster mutually beneficial cooperation and partnerships between Russia and the African continent, first convened in October 2019 with a commitment to continue meeting every three years. 

This 2nd Summit is expected to consider four declarations and a three-year Action Plan, which will be presented for consideration.

These submissions will focus on strengthening cooperation between Russia and African states in politics, security, trade, science, IT, humanitarian support, education, culture, sports, youth and the environment. 

The declarations also seek to strengthen cooperation in the fight against terrorism, the prevention of an arms race in outer space, and in information security.

Scheduled side events will include an exhibition to showcase investment opportunities in Russia and Africa, an innovation space to demonstrate new technologies, and a Business Development and Social Partnership Zone for networking between the heads of global corporations, government officials, business and the media.

The summit background will also offer an opportunity to African Heads of State who are part of the African Leaders Peace Mission to continue talks with President Putin on the confidence-building measures that will create conducive conditions for a path to peace between Russia and Ukraine.

South Africa will use the summit backdrop to further engage Russia at a bilateral level to finalise the contents and substance of the upcoming BRICS summit. 

President Ramaphosa will lead the South African delegation to the Summit, and will be accompanied by Dr Naledi Pandor, Minister of International Relations and Cooperation; and Ms Khumbudzo Ntshavheni, Minister in The Presidency. 

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

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The Deputy Minister of International Relations and Cooperation, Mr Alvin Botes, will undertake an Official Visit to the Republic of Chile from 22 to 25 July 2023 to co-chair the Eighth Meeting of the Joint Consultative Mechanism (JCM) between South Africa and Chile.

South Africa and Chile enjoy cordial diplomatic relations that were formally normalised in October 1991. Bilateral relations between the two countries are underpinned by the values of respect for democracy, human rights and sustainable development. At the global level, the two countries agree on respect for the rule of international law, multilateralism and South-South Cooperation in pursuit of the development agenda of the South.

Bilateral and multilateral cooperation between South Africa and Chile is conducted within the framework of the JCM, which is co-chaired at the Deputy Ministerial level and meets every second year.

The areas of cooperation between the two countries include astronomy, fisheries and aquaculture; mining; education, science, and innovation; social development; sport, arts and culture; trade and investment and parliamentary relations.

The JCM also provides a platform to exchange notes and facilitate cooperation on regional and multilateral issues.

The Deputy Minister will also have a business networking session with South African and Chilean companies.

On 25 July 2023, Deputy Minister Botes will take part in the launch of the Exhibition: 10th Year Remembrance of Nelson Mandela under the theme: “The Legacy Lives on through You”, at the Museum of Memory and Human Rights in Santiago.

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

By forming strategic alliances with African energy producers and major international players in the market, French-based, globally integrated energy company Technip Energies has assumed a leading position in advancing the energy revolution. In recognition of their significant contributions to the industry, the African Energy Chamber (AEC) (www.EnergyChamber.org) is honoured  to announce that Technip Energies will participate as a Gold Sponsor at African Energy Week (AEW) 2023, scheduled to take place on October 16–20 in Cape Town. The involvement of Technip Energies at Africa's largest energy event is crucial for highlighting industry challenges as well as presenting solutions and opportunities for market optimization and sustainable practices.

The company's delivery of cutting-edge project management, engineering and construction services has been crucial in fostering growth within the energy sector, placing it at the forefront of industry progress.

Technip Energies operates in 34 countries with 15 000 members of staff dedicated to bringing their clients' visions to life. Over the past six decades, Technip Energies has conducted more than 100 successful projects in Africa. Some of their onshore projects include the PP Secunda Plant (Sasol) in South Africa, Rovuma LNG (Exxon Mobil) in Mozambique and Tilenga (Total Energies/CNOOC) in Uganda. Its offshore projects include Coral South FLNG (ENI) in Mozambique and BP Tortue (BP) in Senegal/Mauritania, to name a few.

Technip Energies holds prominent positions in the thriving fields of LNG, hydrogen, and ethylene, making it a valuable asset for ongoing LNG projects in Africa and the development of new hydrogen and LNG ventures across the continent. Notably, the company played a pivotal role in the successful Coral South FLNG project in Mozambique, which recently achieved a milestone by exporting its first LNG shipment to Croatia.

Furthermore, Technip Energies has partnered with Empresa Nacional de Hydrocarbonetos Logistics to establish the first engineering company in Mozambique, primarily staffed by Mozambicans. This collaboration has significantly contributed to the growth of human capital in the regional energy sector, empowering the local workforce and enhancing the region's energy expertise.

Beyond its notable project developments in Africa's energy sector, the company goes the extra mile by actively championing local content and human capital development. This steadfast commitment to capacity-building initiatives underscores their dedication to shaping a brighter energy future for the continent. The company's emphasis on increasing human capital and its strong focus on promoting local content are instrumental in equipping the region with crucial skills needed for further advancements in the fields of engineering and technology.

In June, during the Invest in African Energies Paris Forum, which was hosted by the AEC, Technip Energies and Congo's Ministry of Hydrocarbons joined forces to sign a pivotal cooperation agreement. The primary goal of this agreement is to enhance capacity building for sustainable onshore and offshore energy projects. With a strong emphasis on energy transition principles such as LNG, zero-carbon solutions, and decarbonization, the deal sets a clear path towards a more sustainable future.

Technip Energies' expertise in health, safety, and environmental studies will play a crucial role in contributing to these sustainability efforts. This partnership signifies a significant stride in fostering a domestic LNG market and elevating Congo's status as a regional hub and global exporter, all while maintaining a steadfast commitment to sustainability.

With LNG projects gaining traction in many African countries, partnerships with Technip Energies have assisted with the advancement of new technologies in the field as well as providing services that ensure sustainability.  

Additionally, in 2021, Technip Energies actively engaged with stakeholders to build an inclusive and comprehensive Environmental, Social and Governance (ESG) Roadmap, demonstrating dedication to transparency and collaboration in tackling global challenges. This holistic approach aims to foster a sustainable industry ecosystem by positively impacting the environment, empowering communities, and upholding ethical governance practices. The roadmap focuses on four pillars: driving climate solutions through decarbonization and innovation; enabling people to thrive with an inclusive culture and well-being; collaborating to create sustainable impact; and leading responsibly with ESG accountability and transparency. Through this commitment, Technip Energies aspires to be a responsible corporate leader, contributing to a more sustainable and responsible future for all.

“The Chamber celebrates the milestone of having a global energy leader such as Technip Energies support our efforts to make energy poverty across the African continent history by 2030. With a strong focus on sustainability, the company's cutting-edge project management and engineering services have contributed to numerous successful projects in Africa, both onshore and offshore. Its commitment to local content and human capital development demonstrates their dedication to empowering local communities and fostering a domestic LNG market,” states NJ Ayuk, the Executive Chairman of the AEC, adding that, “We are proud to have Technip Energies as a Gold Sponsor of the continent's biggest energy event and look forward to a wide range of deals being signed at the event in October.”

As a gold sponsor of AEW, Technip Energies' involvement underscores the significance of creating a sustainable energy landscape for the region. Through its support and expertise, the company plays a crucial role in driving sustainable energy solutions in Africa.

Distributed by APO Group on behalf of African Energy Chamber.

About African Energy Week:
AEW is the AEC's annual conference, exhibition and networking event uniting African energy policymakers and stakeholders with global investors to discuss the opportunities across the continent's energy industry. For more information about AEW 2023, visit https://AECWeek.com

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President Cyril Ramaphosa chaired a meeting of the Presidential Economic Advisory Council (PEAC) on Thursday 20 July 2023.   

PEAC members commended President Ramaphosa and other African leaders for the steps that have been taken to advocate and work for an end to the destabilising Ukraine-Russia war, maintaining that a return to peace would be in the economic interests of Africa and other parts of the world.

PEAC members further supported President Ramaphosa's efforts in sending envoys to the United States and other G7 economies to clarify South Africa's role in working for peace. The meeting recognised that as South Africa seeks to deepen economic ties with BRICS countries, the country must at the same time continue to strengthen bonds with historical trade and investment partners.

The PEAC members welcomed the progress that has been made in implementing the reforms and encouraged the President to continue driving the reform agenda across the electricity, water, rail, ports, telecoms and skills sectors to revive economic growth and create the millions of jobs that are needed.

It was reiterated that these economic reforms must be undertaken at the same time as the government works towards repairing the country's weak fiscal position.

The meeting noted government's ongoing efforts to push back against state-capture, corruption and violence that are damaging society and the country's economic prospects

The meeting further highlighted the importance of a comprehensive and well balanced approach in the execution of the Energy Action Plan that will promote significant levels of new investment for the fundamental modernisation and restructuring of the country's electricity sector.

President Ramaphosa thanked the members of PEAC for their well-considered and crafted inputs and advice to government, providing assurance that government remains on track in the implementation of reforms in a purposeful manner, despite the enormity of the task that means significant results will take time to materialise.  

The PEAC members will continue to provide economic advice to the President in an ongoing manner.  

The purpose of the PEAC is to provide advice to the President on economic policy matters, to allow for detailed discussion on current economic developments, and to allow for the consideration of new economic proposals.

PEAC members, who were appointed on a purely voluntary basis from October 2019 for a three-year term, which has subsequently been extended until the first half of 2024, comprise a team of 19 local and international economic experts drawn from academia, policy and business circles.  The President invites members of his cabinet involved in economic policy matters to join the PEAC meetings.

A major focus of the PEAC work over the past few years has been to advise the President on reforms needed for inclusive, sustainable growth, and PEAC advice also played a significant role in shaping the South African government's economic response to the Covid pandemic.

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

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Deputy President Paul Mashatile has today, 20 July 2023, held a fruitful dialogue with business leaders, organised by the French South Africa Chamber of Commerce and The African Storyteller, a public affairs consultancy with representatives of large European companies in Johannesburg, Gauteng Province.

The meeting was attended by almost forty Chief Executive Officers (CEOs) and senior leadership from companies such as AB Inbev, Alstom, B Braun SA, BMW, Bureau Veritas, Engie, Grupo Pereira, Gran Solar, Heineken, Ibercham Group, Interwaste, Mazars, South African Breweries, Siemens, Swissport South Africa, TOTAL Energies Unilever, and Volkswagen, amongst others.

The aim of this session was to engage in robust and progressive discussions between business leaders and the Deputy President as facilitator of dialogue among key sectors of South African society. This was a platform for a meeting of minds and for harnessing available expertise to advance the efforts of Government in growing the economy to prosperity and producing the much-needed jobs.

The CEOs raised issues of concern and sought Government's intervention particularly on the energy crisis, logistics challenges especially on the rail network, skills development to fast track the absorption of young people into jobs and business, and long periods attached to getting business visas. 

Commenting on the need for Government and business to engage continuously and constructively, the Managing Director of the African Storyteller, Ms Thuli Phiri said it was important for a Government and Business relationship to be nurtured for the broader benefit of the economy and the people of South Africa.

On behalf of CEOs, Dr Yves Guenon, Chairperson of the French South Africa Chamber of Commerce and Industry said: “For our businesses to grow and further contribute to growing the economy we need to have regular touch points with Government as everything that Government does has a direct or indirect impact on our ability to succeed”. 

Addressing the gathering, Deputy President Mashatile recognised that “investor confidence is essential for driving economic growth and development, creating jobs, and ensuring our nation's prosperity”. 

Additionally, he commended big business for their resilience through the COVID-19 pandemic period and through the slow economic growth cycle. He noted that this demonstrated the value that business leaders attach to South Africa as an investment destination of choice.

In this regard, the Deputy President highlighted to the meeting that Government was streamlining the regulatory procedures through the Red Tape Task Team, established by President Cyril Ramaphosa to reduce excessively complex rules, regulations, procedures, and processes that impede economic growth and job creation in key economic sectors.

The dialogue concluded with the following resolutions:

•    Government commits to building a stronger and intentional working relationship with businesses in order to improve the country's competitiveness and rebuild the economy.
•    Notes that the economy is driven in the main by private sector investments, which provide jobs and revenues to the state through tax collection and through enabling broader economic participation such as the inclusion of SMEs into the economic value chain.
•    Acknowledges that investors from the European Union are key stakeholders, accounting for 25% of South Africa's GDP and 75% of Foreign Direct Investment or FDI's. The main European investors represent more than 300,000 direct jobs, and in total more than 1,5 million jobs including indirect jobs.
•    The European Union business leaders commit to growing South Africa's economy amidst challenges, which must be addressed and discussed openly, to collectively seek their resolution.

In welcoming the resolutions, Deputy President Mashatile said, “Let us remember that creating a conducive environment for business to thrive is not a single-side responsibility, it requires collaboration, partnership, and a shared vision. Together, we can build a South Africa where opportunities abound, businesses thrive, and everyone shares in the prosperity.”

To this end, a follow-up meeting with the European investors will be scheduled in the near future.

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

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The members of the Rules Committee of the Parliament of South Africa continued their benchmarking study tour in the United Kingdom Parliament's House of Commons. The study tour aims to explore and consider the oversight mechanisms of the presidency, with the goal of enhancing the effectiveness of parliamentary oversight in South Africa. The delegation, consisting of senior Members of Parliament from various parties in the National Assembly, yesterday engaged in productive discussions with independent experts who closely monitor and follow the work of the UK Parliament.

The delegation conducted a fruitful discussion with Ms Alice Lilly, a senior researcher from the British Institute of Government, which is the UK's leading independent think tank focused on making government more effective. With its in-depth analysis, expert commentary, and influential public events, the institution seeks to understand and improve the functioning of government. Their rigorous evidence-based research and data analysis, coupled with insights from key decision-makers, enable them to propose fresh ideas and constructive recommendations for enhancing government processes.

The discussion delved into the intricate historical link between the work of Parliament and the Office of the Prime Minister and critically analyzed the challenges and successes of the existing oversight mechanisms in the UK House of Commons. The dialogue also sheds light on the persistent political tensions that surround the relationship between the Prime Minister's office and Parliament, which are not uncommon in a robust parliamentary oversight system.

In addition, the Rules Committee met with Sir Malcolm Jack, a retired long-serving clerk of the House of Commons who shared his invaluable insights and experiences regarding the parliamentary oversight systems and procedures, particularly in relation to the Office of the Prime Minister. Drawing upon his years of service, he provided the delegation with a comprehensive understanding of the mechanisms at play and the challenges encountered.

These engagements with independent experts and the information gathered, in addition to the information gleaned with engagements with representatives of the House of Commons, will greatly assist the Rules Committee in formulating an improved mechanism for parliamentary oversight over the executive branch. The committee's objective aligns with the recommendations put forth by the Judicial Commission of Inquiry into Allegations of State Capture, Corruption and Fraud in the Public Sector, Including Organs of the State. By examining the lessons learned from the UK House of Commons, independent bodies and research conducted on the oversight system of 12 sister parliaments internationally, the Rules Committee aims to develop a tailored and effective oversight system unique to the South African context.

The study tour concludes this morning with discussions on taxation and policy at the Institute for Fiscal Studies, an economic research institute specializing in taxation and public policy. The delegation will also engage with the UK Office of Budget Responsibility, which serves as the equivalent of the South African Parliamentary Budget Office. These discussions will provide further insights into budgeting, independent economic and fiscal forecasting, offering valuable perspectives for enhancing the South African Parliament's oversight over budgetary processes.

The South African Parliamentary Rules Committee expresses its gratitude to the United Kingdom Parliament's House of Commons, the British Institute of Government, and all the experts and institutions involved for their unwavering support and cooperation throughout this benchmarking study tour. The delegation is confident that the knowledge gained, and the lessons learnt will contribute significantly to strengthening parliamentary oversight in South Africa, fostering good governance, and ensuring accountability to the citizens we serve.

Said the leader of the delegation and National Assembly House Chairperson for Committees, Oversight and ICT, Mr Cedric Frolick: “The experience from this exercise has reaffirmed the importance of continuous learning and knowledge exchange in shaping effective parliamentary oversight. The insights gained from our engagements with independent experts and the in-depth analysis of parliamentary systems have provided us with a solid foundation to chart a way forward for our own oversight mechanisms. Moving forward, we are committed to leveraging the lessons learned and implementing necessary reforms to strengthen our parliamentary oversight systems. Our aim is to ensure transparency, accountability, and good governance within our democracy. We will take into account the successes, challenges, and best practices observed during this study tour, as well as draw upon our own unique context, to develop an enhanced framework for parliamentary oversight in South Africa.

“The public can expect a more robust and efficient Parliament that is dedicated to serving their interests. We understand the importance of their trust and confidence in our democratic institutions. Through the implementation of effective oversight mechanisms, we will strive to protect their rights, address their concerns, and hold the executive branch accountable. We are committed to ensuring that our Parliament remains a strong pillar of democracy, serving as a platform for open dialogue, inclusivity, and effective decision-making. Together, we will work towards a better future for our democracy, guided by the principles of transparency, accountability, and good governance."

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

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The weekly status of reservoirs released by the Department of Water and Sanitation reflects that most reservoirs in the country remain on a stable balance albeit downswing in water levels when compared to same period last week. This week, the overall storage capacity of the country's water level sits at 94.4%, a modest decline from last week's 94.7%, and a somewhat improvement from last year's 93.1%.  The persistent reduction of water levels is attributed to the dry winter season.

Water Supply systems on the upward movement are Klipplaat from 100.2% to 100.4%, Bloemfontein from 98.1% to 98.4% and the troubled Algoa in the Nelson Mandela Bay which continues to improve week on week, moving from 31.0% to 34.8%. This is a welcome relief to the residents of the area after severe drought for a number of years. 

The following Water Supply Systems are on the decreasing mode: the Integrated Vaal River System (IVRS) diminished from 97.2% to 96.6%, Amathole decreased from 101.4% to 100.9%, Butterworth recorded a minor dip from 99.4% to 99.0%, Cape Town shrunk from 99.2% to 99.0%, Crocodile West declined from 100.1% to 99.9%, Umgeni recorded a drop from 96.0% to 95.4%, Orange lessen from 99.0% to 98.6%, Both Luvuvhu and Polokwane witnessed faints reductions from 100.4% last week to 100.3% this week. 

The Crocodile East and Umhlathuze Water Supply Systems are fixed and unchanged at 100.2%, and 100.1% respectively.

A total of seven (07) out of nine (09) provinces have recorded reduction in water levels namely, Free State moved down from 98.4% to 97.9%, KwaZulu Natal recorded a tiny reduction from 90.2% last week to 90.1%, Gauteng decreased from 99.2% to 97.9%, Limpopo contracted slightly from 87.9% to 87.7%, Mpumalanga dropped from 98.0% to 97.9%, Northern Cape dipped from 91.6% to 91.5% and North West also scaled down a little bit from 89.2% to 89.1%. 

Provinces that witnessed upward movements are Western Cape and Eastern Cape expanding from 89.4% to 89.5% and 79.6% to 80.2%.

Vaal and Grootdraai Dams which are part of the IVRS have slightly dropped from 92.0% to 91.0% and 94.5% to 94.4%. Gariep which is part of Orange River Water Supply System have recorded a decline from 99.0% to 98.2%, however Vanderkloof which is in the same system has increased somewhat from 99.1% to 99.2%.

In KwaZulu Natal, Albert Falls Dam, an integral part of the Umgeni Water Supply System which supplies water to eThekwini Metro and surrounding areas dropped from 99.3% to 99.0%. Midmar which is also part of Umgeni moved down moderately from 95.6% last week to 95.3% this week while Woodstock Dam is unchanged at 99.8%.

Kouga Dam which is part of Algoa Water Supply System continues to soar from 36.2% last week to 42.2% while Gcuwa Dam which forms part of Butterworth Water Supply System is decreased from 101.8% to 101.2%.

Roodeplat which is the component of Crocodile West supplied by Pienaars River are expanded from 100.4% to 100.6%. 

In the Western Cape, which is a combination of parts that experience rainfall in winter and those that receive rainfall during other seasons; Berg River dropped from 101.3% last week to 100.7%, and Clanwilliam Dam upped from 96.5% to 96.7%.

Flag Boshielo which is part of Polokwane Water Supply System has decreased from 101.4% to 101.2%, De Hoop narrowly decreased from 100.1% to 100.0% and Nandoni is sitting at the same level at 100.8%.

In Mpumalanga, Jericho Dam which is part of the IVRS supplied by Mpama River has decreased marginally from 87.0% to 86.4%, Nooigedacht diminished from 97.4% to 96.8%, Kwena Dam which is part of Crocodile East Water Supply System is sitting at 100.2%.

The Department of Water and Sanitation persists in pleading with the public to utilise the available water with caution since we are still in the middle of dry winter season.

Distributed by APO Group on behalf of Department of Water and Sanitation, Republic of South Africa.