Joburg’s Financial Woes Laid Bare in Scathing Letter From Finance Minister Godongwana
Mayor Dada Morero insists there is “no cause for concern”
Stock Exchange
We Have Warned of Johannesburg’s Looming Bankruptcy for a Long Time
For years, the Freedom Front Plus (VF Plus) warned Johannesburg’s ANC administration that exorbitant salary negotiations and a culture of non-payment would steer the City straight into bankruptcy. These warnings fell on deaf ears, though, and the consequences are now evident. The controversial R10,3 billion salary increase offered to workers last year to avert labour […]
The post Freedom Front Plus has warned of Johannesburg’s looming bankruptcy for a long time appeared first on Freedom Front Plus.
Small Businesses That Go Green Could Make a Big Impact in South Africa: Study Analyses What’s in Their Way
When up to 3.5 million small businesses go green, this will benefit South Africa’s environment and help the businesses survive in a changing climate.
Hundreds of Lesotho Diamond Mining Jobs to Be Axed Following US Tariff Threats
Between 250 and 300 permanent and contracted workers at Letšeng Diamonds are expected to lose their jobs
Gauteng targets R300 billion in investments to boost economy
Gauteng targets R300 billion in investments to boost economy
Gauteng Economic Development MEC, Lebogang Maile, says the province is aiming to secure at least R300 billion in investment pledges at the Gauteng Investment Conference (GIC), to be held in Johannesburg.
The MEC was speaking during a media briefing on the state of readiness of the province to host the conference, to be held at the Johannesburg Stock Exchange, in Sandton, on 3 April 2025.
“Leaders across all tiers of government, including Minister of Trade, Industry and Competition, Parks Tau, Premier of Gauteng Premier Lesufi, and Johannesburg Mayor Dada Morero, will provide inputs at the conference. The keynote address will be delivered by the Deputy President, who also serves as the Leader of Government Business in South Africa, His Excellency, Paul Mashatile.
“Of equal significance is the large contingent of leaders across the business and government sectors on the African continent, the African diaspora and the globe. With over 50 companies represented, the conference will be a convergence point of the world’s most important companies in various sectors,” Maile said.
The Gauteng province is of importance for South Africa’s economy and contributes at least 33% to the national Gross Domestic Product, and nearly 7% of sub-Saharan Africa’s output.
“The [GIC] is a transformative event in affirming the place of the Gauteng province in the continental economy. We are asserting that the development of Gauteng is in the best interest of South Africa, the Southern African Development Community and the continent broadly.
“Thus, investment in the economy of Gauteng extends beyond the confines of its provincial borders into other lands across the entire continent,” the MEC said.
Furthermore, the conference will also serve as a platform for critical dialogue that will “enable direct engagement between policy makers, investors and industry experts”.
“This will ensure that we come out with tangible and applicable outcomes. The sessions will focus on, amongst other things, public-private infrastructure investments, as well as key Gauteng most dynamic and high growth sectors, including…advanced manufacturing, green and renewable energy, ICT [information and communication technology] and data infrastructure, transport and logistics, smart property development and urban regeneration, as well as tourism and the creative economy,” he said.
Maile emphasised that these sectors are critical to ensuring development on a provincial, national and continental level.
“Investment in these sectors offers the most reliable instrument for ensuring sustainability and development, offering a clear path to economic prosperity that is anchored on inclusive growth, environmental protection and human development,” Maile said. – SAnews.gov.za
NeoB
Wed, 04/02/2025 - 13:46
264 views
Trinasolar Tackles South Africa’s Power Crisis
Trinasolar (www.Trinasolar.com), a global leader in smart PV and energy storage solutions, is proud to announce its participation in the Solar & Storage Live Africa exhibition, taking place at Nasrec, Johannesburg, from 25-27 March 2025. As South Africa grapples with an ongoing energy crisis, Trinasolar is positioning itself as a strategic solution provider, offering cutting-edge technology that supports the transition to a decentralised, resilient energy system.
South Africa's recent return to Stage 3 load shedding highlights the ongoing need for reliable and sustainable energy solutions. Trinasolar's advanced portfolio of high-quality photovoltaic modules and energy storage systems are designed to innovatively address the country's energy challenges effectively.
Vincent Wu, Global Sales Vice President and MEA MU Head at Trinasolar, commented on this role, saying: “As the energy crisis continues to challenge South Africa and the broader African region, Trinasolar is committed to delivering solutions that address these challenges. Our advanced PV modules and energy storage systems are designed to enable the region's shift to more resilient and decentralised energy infrastructure. At Solar & Storage Live Africa, we're excited to showcase our leading-edge technology that not only meets the immediate energy needs but also positions South Africa on a path toward a greener, more sustainable future.”
Trinasolar's long-standing presence in South Africa reflects its dedication to providing high-quality and cost-effective solar solutions that support the country's renewable energy ambitions. Trinasolar's Vertex modules are deployed in major utility-scale projects such as the 135MW Merak 1 Project, the 283MWdc Mooi Plaats Photovoltaic Power Plant, and the 195MW Springbok Utility Project, showcasing the company's ability to deliver large-scale, high-impact renewable energy solutions that drive the transition to a more sustainable energy landscape.
“Trinasolar has been part of the South African energy landscape for over a decade, and our local investments are paying off,” says Zaheer Khan, Regional Director for South Africa. “We have emerged as the largest solar equipment supplier in the country, with nearly a gigawatt of solar modules and 250MW of solar trackers delivered to local markets over the past year. Our focus remains on offering high-quality, cost-effective solutions to help South Africa address its energy crisis and move towards a more sustainable future.”
Key highlights:
Trinasolar's portfolio includes a range of high-performance products designed to meet the diverse energy needs of the South African and broader African markets. At Solar & Storage Live Africa, Trinasolar will spotlight two new product launches in South Africa:
- Bifacial Vertex N 630W (NED19RC.20): Featuring advanced N-type i-TOPCon technology with 23.3% module efficiency, this module certified with Fire Rating Class A+A and 55mm hail resistance. Besides, it has high resistance against salt, ammonia, sand, PID, LID, LeTID, which means high sustainability in harsh environments and extreme weather conditions.
- Anti-Dust Mono Facial Golden Size Module - 630W (NE19R.70): with impressive 23.3% efficiency, the module is optimized for installation with low angle and features a patented frame designed to minimize dust accumulation, ensuring consistent high performance even in the harshest environments.
These will be shown along with its flagship modules, including
- Vertex N 720W (NEG21C.20): with 23.2% efficiency, the module reduces BOS and LCOE costs by 2-6%. Built on the 210mm i-TOPCon platform, it ensures high reliability with a 30-year power guarantee. Its dual-glass design and advanced technology maximize energy yield while withstanding harsh conditions.
- Vertex S+ 460W (NEG9R.28): Designed for residential and C&I rooftops, it features a perfect size with low weight, and up to 23.0% efficiency on the 210mm i-TOPCon platform. Its dual-glass structure ensures durability with up to 25 years product and 30 years power warranty, offering superior resistance to harsh conditions.
In addition to its PV modules, Trinasolar will showcase the TrinaStorage Elementa 2 Pro – 5MWh Energy Storage System (ESS), a next-generation solution engineered for South Africa's high temperatures, high humidity, and grid instability. Designed for long-term reliability, Elementa 2 Pro features intelligent hybrid cooling, C5 anti-corrosion certification, and advanced fire suppression technology. Powered by Trinasolar's self-developed 314Ah high-performance battery cells, the system delivers a 15,000-cycle lifespan, reducing lifecycle costs and maximizing efficiency. With low-noise operation suited for suburban projects and compliance with environmentally friendly design standards, Elementa 2 Pro reinforces TrinaStorage's leadership in resilient, high-performance energy storage solutions tailored to regional needs.
Trinasolar's continued expansion and innovation in South Africa underline its commitment to supporting the country's renewable energy transition. By offering state-of-the-art solar and storage solutions, the company is not only helping to alleviate the power crisis but also paving the way for a cleaner and more energy-secure future.
Distributed by APO Group on behalf of Trinasolar.
About Trinasolar (688599. SH):
Founded in 1997, Trinasolar Co Ltd (stock symbol: Trinasolar; stock code: 688599) is engaged mainly in PV products, PV systems and smart energy. PV products include R&D, production and sales of PV modules. PV systems consist of power stations and system products. Smart energy comprises mainly PV power generation and operations and maintenance, smart solutions for energy storage, smart microgrid, and development and sales of multi-energy systems. We are committed to leading the way in smart PV and energy storage solutions and facilitating the transformation of new power systems for a net-zero future.
On June 10, 2020, Trinasolar was listed on the Science and Technology Innovation Board (STAR Market) of the Shanghai Stock Exchange (SSE). It was the first PV and energy storage company to go public on the STAR Market providing PV products and systems, as well as smart energy. For more information, please visit www.Trinasolar.com.
Access Bank’s Africa Trade Conference Ignites New Era of Intra-Africa Commerce
Access Bank PLC (www.AccessBankPLC.com) successfully hosted the inaugural Africa Trade Conference in Cape Town, South Africa, bringing together industry leaders, policymakers, and trade experts to drive solutions for accelerating intra-African trade and unlocking the continent's economic potential. The conference tackled critical challenges, including limited access to capital, market information gaps, trust deficits between trading partners, and the urgent need for modernised trade infrastructure.
Roosevelt Ogbonna, Managing Director/CEO of Access Bank, delivered the opening remarks, setting the tone for discussions by highlighting the critical barriers hindering trade across Africa. He emphasised the urgent need for financial sector collaboration to facilitate seamless access to capital and foster a business environment where African enterprises can scale and compete globally.
“We must invest in the initiatives that ensure that we can bring businesses together, forge trust, and create the connections necessary for trade. In doing so, we must stamp out the narrative that 'Made in Africa' is inferior to any product made anywhere else in the world. We must buy Africa, be proud to wear Africa, and invest in Africa because that is what the continent needs to leap forward into the next generation,” Ogbonna stated.
With Africa's population projected to surge to 2.5 billion by 2050 from 1.2 billion, the African Continental Free Trade Area (AfCFTA) stands as the most significant free trade initiative since the formation of the World Trade Organisation. By fostering economic integration, AfCFTA has the potential to reshape trade dynamics across the continent, creating a unified market that enhances industrialisation, boosts employment, and strengthens Africa's global competitiveness. Recognising this transformative opportunity, H.E. Wamkele K. Mene, Secretary-General of AfCFTA, emphasised the urgency of fully implementing the agreement to unlock its immense benefits.
"The AfCFTA is not just a trade agreement; it is an instrument for Africa's industrialisation and economic sovereignty. It is a tool that will enable us to break down historic trade barriers and build an Africa that is self-sufficient, competitive, and prosperous. But for this to happen, we must commit to operationalising the agreement fully, ensuring that businesses, particularly SMEs and women-led enterprises, have access to the information, capital, and platforms they need to thrive,” Mene stated.
Also, Kanayo Awani, Executive Vice President of Afreximbank, emphasised the importance of financing mechanisms that support African businesses in their expansion across borders. She reaffirmed Afreximbank's commitment to championing trade finance solutions and infrastructure investments that will unlock Africa's trade potential.
“At Afreximbank, we understand that trade finance is the lifeblood of economic development. Without it, businesses cannot scale, industries cannot innovate, and Africa cannot fully realise its trade potential. This is why we have developed instruments such as the Pan-African Payment and Settlement System (PAPSS) to facilitate seamless transactions across borders, reducing reliance on foreign currencies and strengthening intra-African trade,” Awani remarked.
The conference featured an insightful testimonial from Nathalie Louat, Global Director at the IFC/World Bank Group, who pointed out the pivotal role of trade finance in enabling cross-border transactions and supporting financial inclusion. She underscored the long-standing partnership between IFC and Access Bank in fostering Africa's economic resilience.
Several high-level panel discussions explored strategies to overcome trade barriers and enhance market access through innovative solutions. Experts from leading institutions, including Deutsche Bank, Traydstream, OWP Partners, Fiducia International, and more, examined how infrastructure improvements, digital solutions, and policy harmonisation could drive economic growth and boost intra-African trade.
Dr. Marc Auboin from the World Trade Organization (WTO) shared key insights on how digital transformation is reshaping Africa's supply chain landscape, creating efficiency and unlocking new global market opportunities. Tanya Dos Santos-Ford from GIBS Business School also led a session on sustainable trade practices, emphasising the need for environmentally responsible economic growth strategies.
The event culminated in an awards ceremony recognising outstanding contributions to intra-African trade and economic transformation. Tradepass Commodities Limited (Ghana), Chemaf International FZE (DR Congo), and Harvest Group of Companies (Zambia) were honoured for their impact on SMEs and women-led trade enterprises. Bulkstream Limited (Kenya) and Electricidade de Moçambique (Mozambique) received awards for advancing intra-African trade, while Tennant Metals South Africa Pty Ltd was recognised as an Emerging Leader in Trade.
The International Finance Corporation (IFC) was awarded the Climate Finance Leadership Award, while Afreximbank received the Champion of Intra-African Trade Award. The African Development Bank (AfDB) and Africa Finance Corporation (AFC) were celebrated for their roles in economic transformation and infrastructure finance, respectively. The prestigious African Icon Award was presented to IHS Group, Dangote Industries Limited, and MTN Group Limited for their significant contributions to Africa's economic progress.
As the conference ended, Seyi Kumapayi, Executive Director, African Subsidiaries at Access Bank, reaffirmed the institution's commitment to supporting trade finance, fostering regional integration, and championing policies that create an enabling environment for businesses across Africa.
For inquiries:
- Olakunle Aderinokun
olakunle.aderinokun@theaccesscorporation.com
Distributed by APO Group on behalf of Access Bank PLC.
About Access Bank PLC:
Access Bank PLC, a wholly owned subsidiary of Access Holdings PLC, is a leading full-service commercial bank operating through a network of more than 700 branches and service outlets spanning three continents, 24 countries and over 60 million customers. The Bank employs over 28,000 people in its operations in Africa and Europe, with representative offices in China, Lebanon, India, and the UAE.
Access Bank's parent company, Access Holdings PLC, has been listed on the Nigerian Stock Exchange since 1998 (now Nigerian Exchange (NGX)). The Bank is a diversified financial institution which combines a strong retail customer franchise and digital platform with deep corporate banking expertise, proven risk management and capital management capabilities. The Bank services its various markets through three key business segments: Corporate and Investment Banking, Commercial Banking, and Retail Banking. The Bank has enjoyed what is Africa's most successful banking growth trajectory in the last 20 years, becoming one of the continent's largest retail banks.
As part of its continued growth strategy, Access Bank is focused on mainstreaming sustainable business practices into its operations. The Bank strives to deliver sustainable economic growth that is profitable, environmentally responsible, and socially relevant, helping customers to access more and achieve their dreams.
Ecobank Côte D’Ivoire Launches West Africa’s First Gender Bond
Ecobank Côte d'Ivoire, a subsidiary of Ecobank Transnational Incorporated (www.Ecobank.com), the leading Pan African Bank, takes a major step forward in its commitment to financial inclusion with the launch of the first Gender Bond in West Africa. This groundbreaking bond issuance, amounting to XOF 10 billion, aims to mobilize funding for women-owned and women-led businesses, reducing financing inequalities and fostering inclusive economic growth.
Named "Ellever Gender Bond 6.5% 2024-2029," this bond has been structured and arranged by EDC Investissement Corporation (EIC), Ecobank's Brokerage and Asset Management subsidiary. It marks Ecobank Côte d'Ivoire's second bond issuance after its initial fundraising in 2013. Aligned with international sustainable finance standards, the Gender Bond has received an independent second-party opinion from Morningstar Sustainalytics, ensuring compliance with global best practices in responsible investment.
Since its inception, the ELLEVER program has made a tangible impact on women entrepreneurship. In 2024, over 3,465 businesses registered, benefiting from XOF 13.25 billion in disbursed loans. However, access to financing remains a significant challenge for women entrepreneurs in West Africa, where less than 20% of women-led SMEs have access to adequate funding. Globally, Gender Bonds represented only USD 14.5 billion, accounting for just 1.5% of the sustainable bond market in 2023, underscoring the need to expand such initiatives.
According to Paul-Harry Aithnard, Managing Director of Ecobank Côte d'Ivoire, women's financial inclusion is a major economic priority. "This Gender Bond provides a tangible solution to the challenges faced by women entrepreneurs in West Africa. Today, women-led businesses are recognized for their resilience and performance, yet they remain significantly underfunded. Through this issuance, we reaffirm our commitment to building an ecosystem where women have full access to the financial resources they need to grow and succeed. This is a powerful tool to transform access to financing and sustainably accelerate the growth of women-led businesses."
The "Ellever Gender Bond 6.5% 2024-2029" offers investors and the public a unique opportunity to combine profitability with social impact. This five-year bond provides an attractive annual interest rate of 6.5% with a two-year capital repayment grace period. The total issuance of XOF 10 billion consists of one million securities with a nominal value of XOF 10,000 each.
All funds raised will be fully allocated to strengthening the ELLEVER program, financing initiatives led by women, and providing them with tailored financial and technical support. Roseline Abé, Chief Executive Officer of EDC Investissement Corporation, highlights the significance of this initiative: "We have structured this bond to be attractive to investors while delivering a strong impact on women's empowerment in Côte d'Ivoire. This is a unique opportunity to combine financial performance with social inclusion."
With this Gender Bond, Ecobank Côte d'Ivoire cements its leadership in sustainable finance and paves the way for greater economic inclusion. The bank's ambition goes beyond this issuance, as it envisions a long-term strategy to promote innovative and inclusive financial instruments.
Paul-Harry Aithnard concludes: "This issuance is just the beginning. We will continue to develop tailored solutions to enhance women's participation in the economy and encourage other financial institutions to follow this path."
Through this initiative, Ecobank Côte d'Ivoire is transforming access to finance and reaffirming its commitment to inclusive and sustainable development.
Distributed by APO Group on behalf of Ecobank Transnational Incorporated.
Media Contact:
Cynthia KOIDIO
Corporate Communications Manager
Ecobank Côte d'Ivoire
Email: ckoidio@ecobank.com
Tel : +2250787733729
About Ecobank Côte d'Ivoire:
Ecobank Côte d'Ivoire is a subsidiary of the Ecobank Group, the leading independent pan-African banking group, whose parent company is Ecobank Transnational Incorporated (ETI).
The Ecobank Group employs over 13,000 professionals, serving approximately 32 million customers across retail, commercial, and corporate banking sectors in 33 African countries. The Group also holds a banking license in France and maintains representative offices in Addis Ababa (Ethiopia), Johannesburg (South Africa), Beijing (China), London (United Kingdom), and Dubai (United Arab Emirates). Ecobank offers a comprehensive range of banking products, services, and solutions, including deposit accounts, cash management, advisory services, trading, securities brokerage, and wealth management. ETI is listed on multiple stock exchanges, including the Nigerian Stock Exchange (Lagos), the Ghana Stock Exchange (Accra), and the Bourse Régionale des Valeurs Mobilières (Abidjan).
For more information, visit www.Ecobank.com.
Africa showcases tourism offering
Africa showcases tourism offering
South Africa is today hosting a media launch to pave the way to the 19th edition of Meetings Africa -- the continent's premier business events trade show.
Tourism Minister Patricia de Lille and Deputy Minister Maggie Sotyu are today leading the launch, which is taking place at the Johannesburg Stock Exchange where they will share key information about Meetings Africa.
South African Tourism, in partnership with the Gauteng Tourism Authority, Johannesburg Tourism Company and the Sandton Convention Centre, will host the 19th Meetings Africa.
The prestigious gathering will take place at the Sandton Convention Centre in Johannesburg from 25 - 26 February 2025. This will be preceded by the Business Opportunity Networking Day (BONDay) on 24 February, which is designed to foster meaningful connections and collaborations.
Meetings Africa
Meetings Africa is the leading platform that showcases Africa's diverse business events, products and experiences. It will be held under the theme: “Africa’s success built on quality connections.”
The event highlights collaboration and knowledge sharing to drive the continent’s success and growth.
This year, Meetings Africa will once again bring together hundreds of exhibitors, buyers and key decision-makers from the global business events sector.
It is a sought-after platform designed to drive engagement, create impactful connections, and unlock new opportunities for Africa's business events industry.
With attendees expected from 19 African countries and 52 international markets, the event is set to amplify Africa’s positioning as a world-class destination for business events.
Meetings Africa 2025 also capitalises on the tourism sector’s remarkable recovery momentum and its potential to propel economic growth across the continent.
The media launch will include a panel discussion by tourism and business events leaders including South African Tourism CEO, Nombulelo Guliwe; Sithembiso Dlamini, the CEO of Gauteng Tourism Authority; Rick Taylor, the CEO of The Business Tourism Company; Glenton de Kock, the CEO of the South African Association of the Conference Industry, and Gwen Ncube, the Director for Stakeholder Relations at Small Tourism Enterprise Association (STEA). – SAnews.gov.za
Edwin
Tue, 01/28/2025 - 10:02
71 views
The New RS Export App Puts the World at Your Fingertips
RS South Africa (https://Africa.RSDelivers.com/), a global product and service solutions provider for industrial customers, committed to empowering industrial customers and suppliers involved in designing, building, or maintaining industrial equipment and facilities, has launched the new RS Export Mobile App (https://apo-opa.co/4aeAy2B).
Whatever your industry, managing operations on-the-go has just become easier. In the fast-paced world of global commerce, time is indeed money. The RS Export app makes finding the correct solution to your problem quicker and easier.
Unleash the power at your fingertips with instant access to a catalogue of over 800 000 electronic, electrical, mechanical, and PPE products, all available with real-time stock and price – right from your mobile device's homepage.
The app is for existing and new RS customers that export goods from South Africa and the UK to the Sub-Saharan African region. Its features have been designed with their specific requirements in mind and it is supported by the experienced RS export support team, which ensures that all paperwork complies with local and international regulations.
The app provides real-time information, allowing customers to stay informed about up-to-the-minute stock availability and price information. Explore the different product categories in the catalogue when searching for inspiration. If you know what you are after, use keywords or manufacturer part numbers. Compare products with detailed technical descriptions, and access manufacturers' data sheets, 3D images, and schematics.
The checkout process is streamlined, showing the total order price, including delivery costs based on destination and product dimensions. You can connect your existing online account for preferential rates, or new users can quickly register through the app. Transactions are simple, with the option to use an RS account or multiple card types for hassle-free payments.
Download the RS Export app today from Google Play and empower your business with distribution excellence from the RS. For more information about the mobile app, visit their website (https://apo-opa.co/4aeAy2B) and follow them on LinkedIn (https://apo-opa.co/4ah0TNj) for regular updates.
Distributed by APO Group on behalf of RS South Africa.
PR contact details:
PR Contact Person - RS South Africa:
Princess Tlou
Communications & Content Specialist
RS South Africa
Princess.Tlou@rsgroup.com
+27 11 691 9366
Media Contact Person – NGAGE Agency:
Thobile Ndlovu
PR Account Executive
thobile@ngage.co.za
+27 11 867 7763
Further information is available via these links:
- LinkedIn: https://apo-opa.co/4ah0TNj
- Facebook: https://apo-opa.co/3PBq1ou
RS South Africa (www.RSOnline.co.za)
RS Africa Exports (https://Africa.RSDelivers.com/)
DesignSpark (https://apo-opa.co/3DRjC6f)
RS Group plc (www.RSGroup.com)
About RS:
RS is a global product and service solutions provider for industrial customers, enabling them to operate efficiently and sustainably.
We operate in 36 markets, stock over 800,000 industrial and specialist products and list an additional five million relevant for our industrial customers, sourced from over 2,500 suppliers. This extensive range supports our customers across the industrial lifecycle of designing, building, and maintaining equipment and operations. We enhance their experience through a tailored service model, leveraging our efficient physical, digital and process infrastructure sustainably. We combine a technically led and digitally enabled approach with an exceptional team of experts; ultimately, it's our people that make the difference.
Our purpose, making amazing happen for a better world, reflects our focus on delivering results for people planet and profit.
RS Group plc is listed on the London Stock Exchange with stock ticker RS1 and in the year ended 31 March 2024 reported revenue of £2,942 million.
For more information, please visit: www.RSOnline.co.za
Pan-African Legal Group CLG Announces Appointment of Leon Van der Merwe as Partner
A distinguished Attorney of the High Court of South Africa with over 12 years of legal expertise, specializing in Corporate Law, Commercial Law, Litigation and Regulatory Compliance Leon Van der Merwe has joined pan-African legal and advisory group CLG (www.CLGGlobal.com) as a Partner.
A distinguished Attorney of the High Court of South Africa, Van der Merwe brings over 12 years of experience in Corporate Law, Commercial Law, Litigation and Regulatory Compliance. His areas of specialization include Contract Law, General and Commercial Litigation, Insolvency, Compliance, Property Law, Regulatory Law, Competition Law, Company Law and Risk Management.
Throughout his career, Van der Merwe has provided strategic counsel to national and international corporations, as well as African Governments, across various industries such as forestry, mining, construction, engineering, and retail. He holds an LLB Degree (Cum Laude) from the University of Pretoria.
“Leon's promotion to Partner is a reflection not only of his exceptional professional skill but also of the trust he has earned from our clients, colleagues, and partners. His dedication and hard work are unmatched, and he exemplifies the core values that define CLG,” said Zion Adeoye, CEO and Managing Partner of CLG. “I am thrilled to welcome him as Partner and look forward to seeing his leadership continue to shape our journey. His elevation is more than deserved, and I know he will bring even greater value to our firm and our clients in this role.”
Oneyka Cindy Ojogbo, CLG Deputy Managing Partner, added, "It gives me great joy to welcome my friend and colleague into the partnership at CLG. His dedication to the firm and unwavering commitment to our clients have been the bedrock of his practice, and I couldn't be more excited to see him take on this well-deserved role. His leadership and passion will be invaluable as we continue to grow together and build Africa's largest professional service firm."
Mr. Van der Merwe's appointment reinforces CLG's commitment to providing impactful and innovative legal solutions across Africa. His expertise will enhance the firm's service offerings, further solidifying its position as a leading pan-African legal and advisory group.
Distributed by APO Group on behalf of CLG.
About CLG:
CLG, a leading pan-African legal, tax and business advisory firm, has established offices in Germany, Nigeria, South Africa, Republic of Congo, South Sudan, Mauritius, Ghana, Cameroon, Namibia and Equatorial Guinea, amongst others, and is the first Africa focused professional service firm listed on the German stock exchange.
This expanded footprint enables CLG to deliver seamless professional services, facilitate cross-border transactions and provide expertise in diverse jurisdictions and sectors, while fostering strong in-country relationships.
Telecoming and MTN Partner to Launch Cloud Gaming in South Africa
- Both companies extend their collaboration to introduce cloud gaming in South Africa.
- MTN Cloudplay aims to revolutionize digital entertainment with affordable, high-quality gaming access.
MTN, Africa's leading telecommunications operator with over 290 million subscribers across the continent, announces the launch of Cloudplay, a revolutionary new cloud gaming service, with Telecoming (www.Telecoming.com), a sportech company specializing in developing and distributing mobile experiences for sports and entertainment. This project marks a new milestone in the ongoing collaboration between the two companies.
MTN Cloudplay: A Game Changer
MTN Cloudplay will allow MTN users in South Africa to access a wide range of cloud-based video games, providing a high-quality gaming experience without the need for downloads or high-end gaming consoles. The service will allow customers to stream high-end PC games to their mobile phones, enabling them to play anywhere, anytime.
This service seeks to democratize access to high-quality mobile gaming for the whole family; including various genres which include retro games and exciting popular gaming titles with multi-device gameplay, at an affordable price of only R79 per month.
Jason Probert, General Manager for Digital Services at MTN South Africa shared his thoughts on the collaboration:
"We're thrilled to launch MTN Cloudplay in South Africa. We're committed to enabling our customers to enjoy the benefits of a modern connected life and the advent of 5G means that it is now possible to stream and play games without the need for a PC or console. Customers can use their existing Steam licenses on the service, and have access to more than 300 games on the service for only R79 per month."
Alí Karaosman, MEA Director of Telecoming says "It is very exciting for us to extend our collaboration with MTN, bringing our nearly decade-long experience in this market and supporting the operator in this innovative digital entertainment offering, we are convinced that MTN Cloudplay will revolutionize the way users in South Africa enjoy video games. For Telecoming, this partnership with MTN is a strategic step in our mission to bring esports and innovative digital services to Africa. We are committed to continuing to develop technological solutions that enhance digital leisure for people in the region."
Service Details
MTN Cloudplay is available to all MTN users in South Africa since November 2024. With a vast library of over 340 games from over 50 publishers, this cloud gaming service offers an unmatched gaming experience on any device.
MTN Cloudplay is accessible to MTN subscribers. Users can visit https://Cloudplay.MTN.co.za to explore the platform and enjoy a wide selection of gaming titles.
Highlights
- Extensive Game Library: Enjoy classics like Contra, PacMan and Mortal Kombat and modern hits like Hogwarts Legacy and Borderlands 3.
- Bring Your Own License (BYOL): Access games you've purchased on Steam, such as Grand Theft Auto V and Fallout 4.
- Multi-Device Access: Play on any device and switch seamlessly between them.
- Low Latency: Experience responsive gameplay with minimal lag.
- Subscription: Available directly on https://Cloudplay.MTN.co.za or via the MTN Play https://Play.MTN.co.za website for R79 per month.
Distributed by APO Group on behalf of Telecoming.
For MTN Queries:
Leigh-Ann Chetty
Senior Manager: Public Relations, MTN SA
Cell: 083 209 1310
E-mail: Leigh-Ann.Chetty@mtn.com
Mthokozisi Ndlovu
Senior Manager: External Communications, MTN SA
Cell: 083 209 2683
E-mail: Mthokozisi.Ndlovu@mtn.com
Press Contact Telecoming:
Bárbara González
barbara@bgdiez.es
M. +34 603 578 65
Follow us:
X: https://apo-opa.co/3Z0Fgvs
LinkedIn: https://apo-opa.co/3CA7cz3
About the MTN South Africa:
Launched in 1994, MTN South Africa is a subsidiary of MTN Group, a leading emerging market operator with a clear vision to lead the delivery of a bold new digital world to our customers. We are inspired by our belief that everyone deserves the benefits of modern connected life. The MTN Group is listed on the JSE Securities Exchange in South Africa under the share code ‘MTN'. Our strategy is Ambition 2025: Leading digital solutions for Africa's progress.
About Telecoming:
Telecoming is a sportech company specializing in developing and distributing mobile experiences for sports and entertainment. The firm has been deploying monetization technologies in partnership with telcos since 2008. Telecoming is currently present in 18 countries. Its portfolio includes the official licenses of the leading soccer clubs in Europe and Africa, as well as the main competitions of 12 sports disciplines. Leader in the digital content economy since its foundation, the company has been recognized by the London Stock Exchange as one of Europe's most inspiring organizations. In addition, it is one of Europe's fastest-growing companies, according to Morningstar's 5000 Inc. ranking. For more information, please visit: www.Telecoming.com
Climate Investment Funds Capital Markets Mechanism Announces Bond Listing on LSE to Boost Climate Finance for Africa
The Climate Investment Funds Capital Markets Mechanism (CCMM) has announced its bond listing programme (https://apo-opa.co/3CsQ7qw) on the London Stock Exchange, a move that will help to raise new climate finance at-scale from the international capital markets, for Africa and the developing world.
The announcement was made on Tuesday 12 November, at a session during the COP29 conference in Baku, Azerbaijan, entitled Transforming Climate Finance Through Capital Markets. The Climate Investment Funds (CIF) is one of the world's largest multilateral funds working to scale climate solutions in developing countries. It comprises two funds: the Clean Technology Fund (CTF) and the Strategic Climate Fund (SCF).
CCMM, an innovative issuer, raises private sector capital in the international capital markets to mobilize finance for climate action and sustainable development, based on reflows from existing Clean Technology Fund projects implemented by the six participating MDBs over the past 16 years.
The announcement follows the approval by the African Development Bank's Board of Directors last week, for the signing of a Financial Procedures Agreement with the International Bank for Reconstruction and Development (IBRD) acting as the trustee and the CIF Secretariat, opening the door for the Bank to become an Implementing Entity of the CCMM.
Congratulating CIF on the bond issuance, Dr. Adesina said: “At a time of declining levels of concessional financing and grants, new models are needed to secure larger climate finance for developing countries, for public and private sector.” He added: “I am pleased that the African Development Bank helped to develop the concept note for the CCMM initiative, which was accepted by the CTF Trust Fund Committee as one with the highest transformational potential, which then requested all parties to further develop the proposal.”
Tariye Gbadegesin - Chief Executive Officer, Climate Investment Funds described the listing was a testament to ingenuity and collaboration in the face of shared crisis.
“CCMM will mobilize private capital at scale and direct it to high-impact clean energy and clean technology investments. While this is an ambitious step forward, it is rooted in a 16-year track record of being a first mover, working with national governments, the private sector, and frontline communities to pioneer cutting-edge clean technologies and solutions paving the way for greater ambition.”
The financial procedures agreement replaces an earlier one signed by the Bank in 2010 following which the Bank became an Implementing Entity of the Clean Technology Fund.
Since 2010, the Bank has approved around $946 million in concessional resources for a total of 33 investment projects and 20 technical assistance projects across the African Continent. The Clean Technology Fund is the fund that has contributed most to this total, with $646 million for 11 investment projects, including flagship projects such as the Noor Concentrated Solar Program in Morocco and the Xina Concentrated Solar Project in South Africa.
“The CCMM marks the first time that a multilateral climate fund will use the strength of its balance sheet to unlock urgently needed climate finance. Given the track record of the CIF in leveraging $10 for every dollar invested, this mechanism holds the potential to raise tens of billions of dollars in critically needed climate finance. By devoting 65:35% to public and private sector financing it will also help leverage more private sector climate financing,” Adesina said.
Under these Clean Technology Fund projects, the African Development Bank has extended a total of $2.3 billion in co-financing.
Distributed by APO Group on behalf of African Development Bank Group (AfDB).
Download more images: https://apo-opa.co/4fwvnwH
Contact:
Amba Mpoke-Bigg
Communication and External Relations Department
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
Call for proactive regulations in the media sector
Call for proactive regulations in the media sector
The Media Development and Diversity Agency (MDDA) has called for proactive regulations to deal with matters of platform accountability, competition and cases of acquisitions in the media sector.
Citing the Multichoice and Canal+ acquisition, MDDA Acting Executive Manager, Lethabo Dibetso, said the acquisition poses a threat to the sustainability of the community media sector due to the Universal Service Fund (USAF) levy paid by Multichoice.
According to media reports, the French media giant has bought shares at the JSE [Johannesburg Stock Exchange]-listed broadcaster.
The MDDA currently receives a majority of its funds from broadcast funders through USAF levies, government grants and interest on investments.
Dibetso explained that Multichoice is one of the biggest contributors to the USAF levy.
“Should the levy fall through, it will be interesting to see if Multichoice will still be a contributor to the USAF levy and what that means for the sustainability of the community media sector,” Dibetso said on Thursday during a panel discussion on media freedom.
The discussion was hosted by Media Monitoring Africa (MMA) and Government Communication and Information System (GCIS) during the 2024 Media Freedom Festival under the theme: “Media for Democracy: Ensuring Access, Accountability and Integrity in Journalism".
USAF was established under the Electronic Communications Act (ECA) to fund projects and programmes that strive to achieve universal service and access to information and Communication Technologies (ICTs) by all South African citizens.
With the MDDA being in business for about 20 years, Dibetso recognised the continuous support the agency has received from commercial broadcasters through the use of the USAF levy.
“If it wasn’t for that continuous support, the community sector would be non-existent. In the past 20 years, we have supported the community media sector with non-financial support of more than R20 million; with financial support [of] R600 million, and we have created direct and indirect jobs through supporting the community media sector.
“We have also assisted with governance training. Governance is critical for the community media sector, and it enables communities to have alternative media platforms,” he said.
Dibetso said there are a lot of community media organisations that have come up with innovative ways to sustain themselves outside of the government grant.
“The economic challenges that the media sector is facing, particularly the print sector, has direct implications for the sustainability of the MDDA and community media.
“The shrinking advertising spend means that a majority of community organisations do not have access to advertising funding.
“The competition by the digital platforms is also taking away from the community media sector, which means that as an organisation we need to knock on different doors to sustain the sector,” Dibetso said.
Ensuring media freedom
He expressed concerns about the lack of mechanisms to protect women working in the media sector.
“We have seen an increase in cyber misogyny in the media. There is an increased attack on women journalists, which poses a challenge for us,” Dibetso said.
Head of Programmes at the MMA, Thandi Smith, echoed Dibetso's sentiments that there ought to be reforms aimed at protecting journalists and media freedom.
“Over the last few years, we have seen an increase in cases against public participation. We have seen prominent cases where these mechanisms are used to silence journalists and clamp down on media freedom,” Smith said.
She said over the last 30 years, the media sector has scored big wins with upholding media principles in policy and litigation areas.
“We have seen how the judiciary has played their part in promoting and upholding media freedom. We saw changes with how media had to apply for permission to cover criminal cases from the presiding judge. That has now changed. The default now is to have open access, unless otherwise stated that it needs to be closed,” she said. - SAnews.gov.za
nosihle
Thu, 10/17/2024 - 12:50
207 views
African Development Bank and Absa Unveil Multi-Billion Rand Financial Package to Expand Sustainable Capital Markets, Boost Economic Growth for Women and Youth
The African Development Bank (www.AfDB.org) and Absa Group, one of Africa's leading financial services providers, today celebrated a landmark agreement to mark the execution of a transformative financial package aimed at increasing funding for underserved segments, across South Africa and the continent. The target audience includes women-owned businesses, youth entrepreneurs, and small and medium-sized enterprises (SMEs).
In addition to enhancing Absa's regulatory capital, the facility will promote access to finance, deepen domestic capital markets, and ensure continued access to global supply chains for issuing banks in regional member countries, including low-income and fragile states.
The financial package includes:
- A subordinated sustainability-linked (Tier 2) loan amounting to R1.7 billion, complemented by a non-financial support package of R18 million for capacity building and technical assistance targeted at SMEs, youth, and women-owned enterprises.
- Subscription of R1 billion into Absa's inaugural social (Tier 2) bond issuance, with proceeds earmarked for providing affordable housing loans to female homeowners.
- A trade finance Risk Participation Agreement (RPA) facility valued at $150 million, designed to underwrite the risks of trade transactions originated by African issuing banks, reinforcing Absa's role as a regional bank.
Several components of the package have already been executed, including the successful issuance of Absa's first Tier 2 social bond on the Johannesburg Stock Exchange in July 2024. The R1 billion proceeds from this bond will be allocated towards affordable housing loans specifically targeting women, empowering them as first-time homeowners in low-income segments.
Leila Mokaddem, Director General of the African Development Bank's Southern Africa Region, stated: “This partnership with Absa Group underscores our commitment to driving sustainable and inclusive economic growth across Africa. Through this financial package, we are not only fortifying Absa's capital base but also ensuring that essential funding reaches women, youth, and entrepreneurs, fostering a more equitable and prosperous continent. This collaboration aligns seamlessly with our strategic priorities of supporting Africa's industrialization and enhancing the quality of life for its people. “
Absa has secured a R1.7 billion sustainability-linked Tier 2 loan aimed at general corporate business purposes while incentivizing the extension of finance products to women-owned SMEs as a key performance indicator. As part of this agreement, Absa is collaborating with the African Development Bank to enhance skills among both Absa staff and women business owners. A capacity-building training program has been launched to address the unique challenges faced by female and youth entrepreneurs, by providing mentorship and financial solutions.
Charles Russon, Absa Group interim CEO designate remarked: “The finalisation of this package concludes a three-year process that significantly enhances our capacity to fund social initiatives aligned with our commitment to being a force for good. This partnership enables us to increase funding for women and youth in South Africa while facilitating greater trade opportunities across the continent. “
“This partnership aligns with the African Development Bank's strategic objectives of advancing green, social, and sustainability instruments in the domestic capital markets, supporting African capital market development and regional financial integration,” said Ahmed Attout, Director of the Financial Sector Development Department at the African Development Bank. He emphasised that it is designed to empower Absa to effectively disburse funds for highly impactful social and sustainable economic development initiatives.
The $150 million trade finance facility will drive trade support across Africa, addressing the continent's annual trade finance gap of over $100 billion. This initiative will enhance access to financing for key sectors such as agriculture, transport, and manufacturing, while fostering financial sector development and regional integration.
Distributed by APO Group on behalf of African Development Bank Group (AfDB).
Contact:
African Development Bank:
Natalie Naudé,
Communication and External Relations Department,
email: media@afdb.org
Technical Contacts:
Peter Onyango,
Chief Capital Markets Officer,
Financial Sector Development Department,
Bleming Nakati,
Regional Lead,
Private Sector Operations, Southern Africa
Absa:
Carli Cooke,
Head of Media Relations,
email : prmedia@absa.afrca
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
About Absa Group:
Absa Group Limited (‘Absa Group') is listed on the Johannesburg Stock Exchange and is one of Africa's largest diversified financial services groups. Absa Group offers an integrated set of products and services across personal and business banking, corporate and investment banking, wealth and investment management and insurance.
Absa Group owns majority stakes in banks in Botswana, Ghana, Kenya, Mauritius, Mozambique, Seychelles, South Africa, Tanzania (Absa Bank Tanzania and National Bank of Commerce), Uganda and Zambia and has insurance operations in Botswana, Kenya, Mozambique, South Africa and Zambia. Absa also has offices in China, Namibia, Nigeria and the United States, as well as securities entities in the United Kingdom and the United States, along with technology support colleagues in the Czech Republic.
For further information about Absa Group Limited, visit www.Absa.africa.
Telecoming Partners With Movement Empire to Deliver Premium Online Workout Content in South Africa
Telecoming (www.Telecoming.com), sportech company specializing in developing and distributing mobile experiences for sports and entertainment, is excited to announce a strategic partnership with The Movement Empire, the world's most immersive online exercise platform. This agreement will enable the distribution of Movement Empire's on-demand workout content through major mobile operators in South Africa, reinforcing Telecoming's strong presence in the South African market, where it has been operating since 2015.
The Movement Empire, known for its comprehensive range of online bodyweight workouts, is dedicated to empowering individuals to achieve their fitness goals through innovative and engaging workouts that require no equipment. Their content, which spans from low-impact, reduced intensity sessions through to high intensity interval training (HIIT) as well as yoga inspired sessions, which are designed to inspire users at all fitness levels to lead active and healthy lives.
This partnership aligns with Telecoming's Sportech strategy, which is focused on expanding its home fitness division. By integrating The Movement Empire's premium content into its offerings, Telecoming continues to demonstrate its commitment to the South African market and its belief in the potential of local productions. The partnership underscores Telecoming's dedication to providing high-quality, locally relevant content that resonates with South African audiences.
"We are thrilled to partner with The Movement Empire, a brand that shares our vision for innovation in sports and fitness content. This collaboration is a significant step forward in Telecoming's strategy to enhance our Sportech offerings in South Africa. We believe that Movement Empire's dynamic content will be highly appreciated by users across the country," said Roberto Monge, Chief Business Officer at Telecoming.
"We appreciate Telecoming's trust in The Movement Empire and we look forward to bringing our immersive fitness content at scale to a South African audience through their strong mobile distribution network. This partnership allows us to reach more individuals who are eager to embrace a healthier lifestyle, and we couldn't be more enthusiastic about the possibilities ahead," said Ben Wagner, CEO of The Movement Empire.
Since entering the South African market in 2015, Telecoming has consistently adapted its services to meet the needs and preferences of local users. This new agreement not only expands the company's content portfolio but also contributes to the growth of the South African digital ecosystem by providing users with access to top-tier sports and fitness content.
Distributed by APO Group on behalf of Telecoming.
Press Contact Telecoming:
Bárbara González
barbara@bgdiez.es
M. +34 603 578 65
About Telecoming:
Telecoming is a sportech company specializing in developing and distributing mobile experiences for sports and entertainment. The firm has been deploying monetization technologies in partnership with telcos since 2008. Telecoming is currently present in 18 countries. Its portfolio includes the official licenses of the leading soccer clubs in Europe and Africa, as well as the main competitions of 12 sports disciplines. Leader in the digital content economy since its foundation, the company has been recognized by the London Stock Exchange as one of Europe's most inspiring organizations. In addition, it is one of Europe's fastest-growing companies, according to Morningstar's 5000 Inc. ranking. For more information, please visit: www.Telecoming.com
Prosper Shoniwa Drives Export Growth at RS South Africa
With over 14 years' experience in sales and management across Africa, Prosper Shoniwa has built a reputation for driving business growth and operational excellence. As the Export Sales and Operations Manager at RS South Africa (www.za.RS-online.com/web), Prosper combines his in-depth knowledge of international trade with a nuanced understanding of African market dynamics, positioning him as a key figure in the company's expansion efforts across the continent.
Prosper is an accomplished professional with a proven track record in export management and sales, having successfully navigated the complexities of diverse African markets throughout his career. His expertise spans multiple industries, where he has consistently demonstrated the ability to develop and execute strategies that achieve significant growth. His formal qualifications, including a Diploma in International Trade Management from the International Trade Institute of Southern Africa (ITRISA) and a Diploma in Marketing from the London Chamber of Commerce and Industry (LCCI), form the foundation of his business acumen.
Currently pursuing a BCom in International Business at MANCOSA, Prosper continues to enhance his skills to stay ahead in Africa's rapidly evolving business landscape. Fluent in English and French, Prosper has cultivated strong relationships across Sub-Saharan Africa, working with stakeholders ranging from corporate clients and distributors to EPCs and water utilities. He also has extensive experience consulting with engineers and working at the highest level with governments, making him a versatile leader in cross-border partnerships. His multilingual proficiency and deep cultural understanding have been instrumental in bridging gaps and fostering collaborations that transcend borders.
At RS South Africa, Prosper leads the company's export operations with a focus on delivering Maintenance, Repair, and Operations (MRO) solutions tailored to the unique needs of the African market. His leadership approach goes beyond delivering products; he is committed to building long-term partnerships that drive operational efficiencies and provide value-driven, sustainable solutions. Prosper's ability to anticipate market trends, negotiate deals, and implement innovative strategies ensures that RS South Africa's clients gain a competitive edge.
Prosper's vision for RS South Africa is one of transformation, where MRO solutions are not only efficient and value-driven but also innovative and responsive to the changing demands of African industries. His focus on client satisfaction, coupled with his strategic insight, positions RS South Africa as a preferred partner across Southern, East, and West Africa. Under Prosper's leadership, the company is set to redefine how businesses across Africa approach their operational needs, delivering customised solutions that enable seamless operations and continuous improvement.
With a commitment to operational excellence and a passion for driving growth in challenging markets, Prosper Shoniwa is at the forefront of RS South Africa's mission to expand its influence and deliver impactful MRO solutions across the continent.
For more information about RS Africa export solutions, visit their website (www.Africa.RSdelivers.com) and follow them on LinkedIn (https://apo-opa.co/4gQsIiq) for regular updates on their impactful work.
Distributed by APO Group on behalf of RS South Africa.
PR Contact Person -
RS South Africa:
Princess Tlou
Communications & Content Specialist
RS South Africa
Princess.Tlou@rsgroup.com
+27 11 691 9366
Media Contact Person –
NGAGE:
Thobile Ndlovu
PR Account Executive
thobile@ngage.co.za
+27 11 867 7763
RS:
RS is a trading brand of RS Group plc, providing product and service solutions that help our customers design, build, maintain, repair, and operate industrial equipment and operations, safely and sustainably. We stock more than 750,000 industrial and electronic products, sourced from over 2,500 leading suppliers, and provide a wide range of product and service solutions to 1.1 million customers.
We support customers across the product lifecycle, whether via innovation and technical support at the design phase, improving time to market and productivity at the build phase, or reducing purchasing costs and optimising inventory in the maintenance, repair, and operation phase. We offer our customers tailored product and service propositions that are essential for the successful operation of their businesses and help them save time and money.
RS Group plc is listed on the London Stock Exchange with stock ticker RS1 and in the year ended 31 March 2023 reported revenue of £2,982 million.
Further information is available via these links:
- LinkedIn: https://apo-opa.co/3BFMc9t
- Facebook: https://apo-opa.co/3zHkLLX
- Twitter: https://apo-opa.co/48gsLAt
- RS South Africa: www.za.RS-online.com/web/
- RS Africa Exports: https://apo-opa.co/47YHZK0
- DesignSpark: https://apo-opa.co/3ZTYgxN
- RS Group plc: https://apo-opa.co/3zEAYBC
Unions Take to the Streets to Demand Decent Work
Hundreds of workers march in Cape Town, Joburg and Durban
Natjoints monitoring Cosatu strike
Natjoints monitoring Cosatu strike
The National Joint Operational and Intelligence Structure (NATJOINTS) through its National Coordination Centre (NCC) is monitoring the nationwide Congress of South African Trade Unions (COSATU) strike, taking place today.
The structure, which is responsible for the policing of major events and large gatherings, has mobilised all its resources working closely with all law enforcement agencies - including traffic officials - to ensure the safety of workers who will be taking part in the strike.
The NATJOINTS urged workers to gather and demonstrate peacefully within the confines of the law.
“The Natjoints will not tolerate any lawlessness, blocking of roads and any disruptions,” it said in a statement.
COSATU has embarked on a nationwide strike to highlight issues of unemployment and economic challenges facing the country.
Planned marches and pickets are expected across the country, including at Parliament, the Johannesburg Stock Exchange, Discovery Place, Business Unity South Africa, the Department of Employment and Labour and the Reserve Bank.
The National Day of Action, during which Cosatu promised to “paint the country red”, coincides with the International Day of Decent Work. – SAnews.gov.za
Edwin
Mon, 10/07/2024 - 10:15
45 views
Deputy President concludes working visit to the United Kingdom
Deputy President concludes working visit to the United Kingdom
Deputy President Paul Mashatile has on Friday concluded his weeklong working visit to the United Kingdom.
The Deputy President was in the United Kingdom for the second leg of his working visit to improve trade and investment relations between the nations and woo investors following his travels to Ireland.
“The purpose of the visit was to identify new trade and investment opportunities to grow the South African economy in partnership with the United Kingdom,” the Presidency said in a statement.
Some of the areas of interest he touched on during his engagement include government’s strategic priorities in several sectors including trade, investment, skills development, science, innovation, tourism and the Just Energy Transition.
“Following the successful conclusion of elections in both countries, the establishment of new governments allowed for reaffirming bilateral relations at all levels for the two strategic partners,” the statement read.
During the working visit, the Deputy President engaged with representatives from several organisations. These include Bloomberg Media, Brand South Africa, the London Stock Exchange, Investec, Standard Bank, JP Morgan, Citibank, Goldman Sachs and the South African Chamber of Commerce.
The talks also focused on showcasing South Africa as an investment destination of choice, by highlighting investment opportunities in the country.
He stressed the stability of South Africa’s political landscape as a result of the newly established Government of National Unity (GNU) and highlighted its significant demonstration of democracy at work and how it can serve as a model for other democracies around the world.
The Deputy President also had an opportunity to deliver an address on South Africa’s upcoming G20 Presidency, set to commence on 1 December 2024, at the University of London’s School of Oriental and African Studies (SOAS).
“The Deputy President affirmed that the country will advocate for the needs of developing nations, to place Africa’s development at the forefront of the global agenda.”
The Deputy President met with British government leaders including the Deputy Prime Minister Angela Rayner, the Secretary of State for Energy Security and Net Zero Ed Miliband, and Secretary of State for Foreign Affairs, Commonwealth and Development David Lammy.
He further paid a courtesy visit to Prince Edward, His Royal Highness the Duke of Edinburgh.
“Our numerous meetings with potential investors have revealed a shift in their attitudes and perceptions towards South Africa, indicating a positive look. Our alliance is based not on personal sentiments but on the aspiration to enhance South Africa and, consequently, the lives of our citizens, and be useful in sustaining the GNU administration for five years,” said the Deputy President.
The Deputy President was accompanied by the International Relations and Cooperation Minister Ronald Lamola, the Minister of Small Business Development Stella Ndabeni-Abrahams, the Minister in the Presidency responsible for Planning, Monitoring and Evaluation Maropene Ramokgopa and Minister of Public Works and Infrastructure Dean Mcpherson.
He was also with the Deputy Minister of Agriculture Rosemary Capa, the Deputy Minister of Finance Dr David Masondo, Deputy Minister in the Presidency Kenneth Morolong and the Deputy Minister of Trade, Industry and Competition Andrew Whitfield. – SAnews.gov.za
Gabisile
Sat, 10/05/2024 - 13:42
42 views
SMEs critical to economic growth
SMEs critical to economic growth
The role of Small and Medium Enterprises (SMEs) in driving economic diversity and fostering innovation to boost competitiveness is critical.
This is according to Deputy Minister of Trade, Industry, and Competition, Andrew Whitfield, who was speaking during a panel discussion at the London Stock Exchange on the role of small businesses in the economy.
Whitfield is currently in the United Kingdom, accompanying Deputy President Paul Mashatile on a mission to promote South Africa as a leading investment destination.
This high-level delegation aims to strengthen bilateral relations between South Africa and the United Kingdom, showcasing South Africa's vast investment potential while identifying new trade opportunities for local businesses.
In his address, Whitfield highlighted the broad range of support mechanisms available to South African SMEs through the Department of Trade, Industry, and Competition (the dtic).
"At the dtic, we have developed several industrial levers, including competition policy and export marketing assistance, to ensure that SMEs have the tools to expand and trade globally.
“We are also deeply engaged in conversations around digital transformation, enabling marginalised SMEs, particularly in sectors like agro-processing to access global value chains and participate on digital platforms,” he said.
Whitfield emphasised that supporting SMEs through digital platforms was crucial for ensuring that they can compete not only regionally but also globally.
He stressed the importance of reducing market access barriers for sectors like agriculture, which remains a vital area of growth for SMEs and enhancing collaboration between the private and public sectors to create a conducive trading environment.
He addressed the broader role of SMEs in South Africa’s industrial policy, highlighting the need for targeted interventions that enable them to participate in high-growth sectors such as manufacturing, technology and agro-processing.
"The export potential for South African SMEs is enormous, and we are committed to scaling them up to ensure they are integrated into both regional and global value chains. Through our policies, we aim to create an ecosystem that supports rapid and inclusive growth.
“This is essential for job creation and for ensuring that SMEs can contribute meaningfully to the industrialisation of our economy," he added.
Furthermore, Whitfield touched on the need for removing red tape and bureaucratic barriers that hinder SME growth, stressing the importance of regulatory reform as part of South Africa’s economic recovery strategy.
As the delegation continues its engagements in the UK, Whitfield emphasised that partnerships between government and private sector entities, particularly in sectors like agriculture and technology, would be pivotal in unlocking future opportunities.
"We have had promising discussions around agricultural products and solutions for SME growth, and we’re committed to ensuring that companies investing in South Africa make deliberate efforts to partner with small and medium-sized enterprises.
“We believe that such partnerships, coupled with digital transformation, will play a major role in positioning SMEs to thrive in global markets," he said.
Whitfield reaffirmed South Africa’s commitment to creating an enabling environment that will attract investments and spur growth across various sectors of the economy. – SAnews.gov.za
Edwin
Wed, 10/02/2024 - 14:45
297 views
Mashatile kicks off working visit to the UK
Mashatile kicks off working visit to the UK
Deputy President Paul Mashatile has arrived in London, United Kingdom, for the second leg of his working visit scheduled to take place today and wrap up on Friday, 4 October 2024.
According to the Presidency, the purpose of the visit is to improve trade and investment relations between South Africa and the United Kingdom.
This visit follows a successful working visit to Ireland, which was aimed at advancing cooperation between South Africa and Ireland to improve trade and investment, and building on the significant progress made in the fields of science, innovation, as well as education and skills development.
READ | Deputy President assures Ireland of SA’s commitment to 'enabling environment' for business
The United Kingdom is one of South Africa’s most significant bilateral partners, particularly in trade, investment, skills development, science, innovation, the Just Energy Transition and tourism, among others.
The Deputy President’s visit will focus on building investor confidence in South Africa and driving foreign direct investment into the nation.
According to Mashatile’s office, he will continue to engage with various local and international private sector partners to mobilise investment support and strengthen public-private partnerships to realise the country’s economic growth and transformation objectives.
“The Deputy President will also use the opportunity to advance the strategic priorities of the Government of National Unity (GNU), which include creating sustainable economic growth, addressing poverty and the high cost of living, and building an ethical, capable developmental State,” his office said.
During this visit, the Deputy President will also engage with representatives from several organisations. These include Bloomberg Media, Financial Times, Sasol, Brand South Africa, the London Stock Exchange, Investec’s Investors Roundtable, Standard Bank, JP Morgan, City Bank, Goldman Sachs and the South African Chamber of Commerce.
He is expected to also pay a courtesy call on the Duke of Edinburgh and meet with the Deputy Prime Minister of the United Kingdom, Angela Rayner.
The Deputy President is leading a delegation comprising various Ministers. He is accompanied by the International Relations and Cooperation Minister Ronald Lamola; Minister in the Presidency responsible for Planning, Monitoring and Evaluation Maropene Ramokgopa; Public Works and Infrastructure Minister Dean Macpherson; Small Business Development Minister Stella Ndabeni Abrahams and some Deputy Ministers from various departments. – SAnew.gov.za
Gabisile
Mon, 09/30/2024 - 11:05
69 views
NPA scores Steinhoff victory
NPA scores Steinhoff victory
The National Prosecuting Authority (NPA) has secured its first conviction, sentence and confiscation order related to the Steinhoff case.
This after the Specialised Commercial Crimes Court in Pretoria sentenced former Steinhoff physician, Dr Gerhardus Burger, to some five years imprisonment – wholly suspended for five years, if he is not found guilty of contravention of section 78(2) of the Financial Markets Act within that period.
According to the NPA spokesperson, Lumka Mahanjana, Burger also has to “testify in the criminal proceedings against his accomplices”.
“The court also issued a confiscation order for €90,000 which is about R1.8 million seized by Swiss authorities after the collapse of Steinhoff. This is after Dr Burger pleaded guilty to three counts of insider trading and was convicted as such when he appeared in court.
“The Steinhoff case, one of the biggest cases of corporate fraud in the history of South Africa, has been one of the most complex commercial crime cases that the [Hawks] and the NPA have had to deal with.
“At a point when a significant breakthrough was made to enrol the case earlier this year, the main accused, ex-CEO of Steinhoff, Markus Jooste, took his life on the eve of his arrest, thus escaping the hands of justice when it mattered the most,” she said.
The spokesperson explained that just before the Steinhoff collapse, the late CEO sent Dr Burger who accompanied Steinhoff directors on overseas trips to look after their health, a text advising him to sell his Steinhoff shares.
“Burger thereafter sold all the Steinhoff shares held under the Dieter Burger and Lane Burger Trusts where his children are beneficiaries. He also sold 39,722 Steinhoff shares held at Stefana Overseas Ltd, where Dr Burger was also the beneficiary, on the Swiss stock exchange.
“Shortly after the sale of the shares, Steinhoff shares plummeted and became almost worthless. At that point the Financial Sector Conduct Authority (FSCA) instituted investigations where Dr Burger was convicted and found guilty of insider trading for the same transactions and paid a penalty of R3 million to FSCA. FSCA then referred the matter to the NPA for criminal prosecution.
“The National Prosecuting Authority welcomes the conviction and sentence. It is important for the public to understand that criminal prosecutions require patience, preparation, and a certain measure of certainty,” Mahanjana said. – SAnews.gov.za
NeoB
Fri, 09/27/2024 - 09:54
99 views
Your Trusted Partner in the Mining Industry
By Erick Wessels, Sales Director, RS South Africa (www.Africa.RSdelivers.com).
The mining industry is facing significant challenges, from financial pressures leading to reduced margins and demanding stakeholders adding to procurement costs. Success in such an environment requires partnering with a supplier that is collaborative, flexible, and forward-thinking. RS stands as the ideal partner to help businesses in the mining sector achieve their goals while saving time and money.
Optimising supply management
At RS, we are committed to enhancing your supply management performance to drive commercial success. Our suite of next-generation inventory, procurement, and maintenance solutions is designed to reduce costs and optimise productivity. Leveraging advanced data insights, we help you streamline your supply chain, refine your processes, and identify cost-saving strategies that reduce the total cost of ownership and boost operational efficiency.
Ensuring safety in hazardous environments
Whether open cut or underground, all mining operations present extreme dangers. With stringent Health and Safety regulations in place, the risks associated with dust and other hazards must be meticulously managed. Compliance with IECEx legislation is crucial, necessitating the use of intrinsically safe products. Given the hazardous and arduous nature of the mining industry, safety is of paramount concern. Therefore, reliable PPE and safety equipment specification are critical.
RS offers a rapidly expanding range of PPE and workwear from trusted local and global suppliers, designed specifically for the harsh environments of the mining industry. Our products ensure site safety and security with advanced locks, security alarms and sensors, CCTV, and surveillance systems. In addition, we provide innovative automation and control technology to safely manage and automate processes, including signalling, sensors, and industrial robots.
Advanced energy management
Economic and environmental challenges drive the need for maximum energy efficiency in the mining industry. With carbon net zero on the horizon, energy efficiency has become a crucial topic. Our products, services, and solutions are tailored to help mining clients reduce CO2 emissions and energy consumption, thereby lowering overall costs.
We collaborate with you to understand your specific needs and apply a suite of energy-efficient products and services expertly designed to simplify energy management. Our solutions, backed by digital expertise, leverage the latest in energy efficiency technology to minimise energy waste, reduce carbon footprints, and assist you to meet your energy efficiency targets. From LED lighting to energy meters, we provide the right products to achieve your energy efficiency, health and safety, and productivity goals.
Committed to environmental management
Mining, by its very nature, has a significant impact on the environment. The industry is making great strides to mitigate these effects and ensure healthy air, land, and water in the areas where they operate. RS offers a range of products and solutions to help you manage and minimise the environmental impact of your mining operations.
Partnering with RS gives you access to our comprehensive range of solutions designed to support your mission, enhance safety, optimise energy use, and reduce environmental impact. Together, we can navigate the challenges of the mining industry and achieve sustained success.
For more information about RS South Africa's initiatives and product range, visit their website (http://apo-opa.co/3ZE7ZYV) and follow them on LinkedIn (http://apo-opa.co/3Brll0x) for regular updates on their impactful work.
Mining brochure: https://apo-opa.co/3ZFt6ds
Mining Campaign: https://apo-opa.co/3ZE7ZYV
Distributed by APO Group on behalf of RS South Africa.
PR Contact Person - RS South Africa:
Princess Tlou
Communications & Content Specialist
RS South Africa
Princess.Tlou@rsgroup.com
+27 11 691 9366
Media Contact Person – NGAGE:
Thobile Ndlovu
PR Account Executive
thobile@ngage.co.za
+27 11 867 7763
Further information is available via these links:
LinkedIn: https://apo-opa.co/3XVkzSl
Facebook: https://apo-opa.co/3zvhhvU
Twitter: https://apo-opa.co/4dne5QT
RS Africa Exports: http://apo-opa.co/3XUE7q5
RS South Africa: http://apo-opa.co/3XVZ8k3
DesignSpark: http://apo-opa.co/4dsAjkA
RS Group plc: http://apo-opa.co/3ZDW6SX
RS Group:
RS Group plc is a leading global omni-channel industrial product and service solutions provider to customers who are involved in designing, building and maintaining industrial equipment and operations, safely and sustainably. We stock more than 700,000 industrial and electronic products, sourced from over 2,500 leading suppliers, and provide a wide range of product and service solutions to over 1.2 million customers. With operations in 31 countries, we trade through multiple channels and ship over 60,000 parcels a day.
We support customers across the product life cycle, whether via innovation and technical support at the design phase, improving time to market and productivity at the build phase, or reducing purchasing costs and optimising inventory in the maintenance phase. We offer our customers tailored product and service propositions that are essential for the successful operation of their businesses and help them save time and money.
RS Group plc is listed on the London Stock Exchange with stock ticker RS1 and in the year ended 31 March 2022 reported revenue of £2,554 million.