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Interview with Zando’s CEO on Navigating The Future of Online Shopping in South Africa Cape Town (South Africa): 22 January 2024: Zando.co.za, the leading e-commerce platform in South Africa, announces focus for 2024 under the leadership of newly appointed Chief Executive Officer Morgane Imbert. Zando was established in 2012 and has grown to become one …
Verdant Capital (www.Verdant-Cap.com) is pleased to announce that it has facilitated and advised on the raising of EUR 2 million of debt funding for US Plus Limited (“UsPlus”), an innovative specialist SME financing firm based in South Africa.
The funding increases UsPlus' capacity to finance SMEs in South Africa, thereby contributing to the country's development agenda. The new funding further broadens the institutional funding base of UsPlus following the USD 10 million debt capital raise completed by Verdant Capital in 2022 and building on the Domestic Medium Term Programme registered on the Johannesburg Stock Exchange.
Studies show that SMEs contribute close to 30% of employment in South Africa, but most of these SMEs do not survive beyond 5 years due to a number of causes, of which lack of funding is a leading factor. Most SMEs are self-funded and struggle to access funds at various stages in their operation. The South African government, under its National Development Plan 2030, is looking to SMEs to help achieve its objective of creating 11 million jobs by 2030. Against this backdrop, UsPlus has been operating since 2015, specialising in the provision of tailor-made working capital finance solutions to SMEs through the purchase of transferable instruments such as invoices, purchase orders and contracts issued by or to its SME clients. This convenient and cost-effective solution gives SMEs access to funding to manage working capital and maximise profits. Verdant Capital has acted as an important catalyst for funding SME clients in South Africa and across the African continent.
Since its establishment, UsPlus has deployed over ZAR 3.7 billion (approx. USD 196 million) in working capital to SMEs. Its clients are actively engaged in over 25 industries, including agriculture and film production. UsPlus focuses on social, economic and environmental impact and works with SMEs that contribute to employment in South Africa, the upliftment of black-owned enterprises, women-owned enterprises and rurally located enterprises. Furthermore, the company is guided by the International Finance Cooperation's Exclusion List and does not support businesses which operate within this list. UsPlus' success stems from its highly experienced management team and technology-enabled operations, which 1) help meet customers at their point of need, 2) enhance client service experience, and 3) help manage business risk.
Verdant Capital has a strong funding pipeline for UsPlus which will continue to support the successes of the business.
Verdant Capital was the sole advisor and arranger of UsPlus' International debt capital raise.
Distributed by APO Group on behalf of Verdant Capital.
Media enquiries:
Verdant Capital:
Liezel van Greunen,
T: +27 10 140 3700
E: liezel.vangreunen@verdant-cap.com
About Verdant Capital:
Verdant Capital is a leading investment manager and investment bank specialising in the private capital markets and operating on a pan-African basis. Verdant Capital is the manager of the Verdant Capital Hybrid Fund. www.Verdant-Cap.com.
Cathay Pacific’s first ferry lounge at Shenzhen’s Shekou Cruise Home Port opens. Strengthening its position in the wider Greater Bay Area and enhancing customers’ intermodal travel experience Cathay Pacific is delighted to announce that its first-ever lounge outside of an airport is now open to guests at the Shekou Cruise Home Port in Shenzhen. This …
After more than a decade running one of Africa's most influential law firms, covering all aspects of the oil and natural gas sector, NJ Ayuk has announced that he will not make another long-term commitment to Centurion Law Group and will step down.
“I am proud of my work as Centurion's CEO – we have been able to build a historic relationship with African governments, oil and gas entrepreneurs and international energy companies working in Africa. We have hired, trained and developed more African lawyers than any other law firm in Africa. We became the first African law firm to be listed on the German Stock Exchange and have spearheaded an audacious, on-demand legal service business model in Africa,” stated Mr. Ayuk.
“I have fought the good fight, I have run the race and I have kept the faith. I believe it is time to pass the torch to the next generation that can take the firm to the next level, and I have full confidence that Zion Adeoye and his team will be able to achieve this. It also grants me much-needed time to focus on my family, the work of the African Energy Chamber and other entrepreneurial ventures and causes in which I believe,” he concluded.
Mr. Ayuk has been named one of world's top energy lawyers by Who's Who Legal, one of top 10 most influential Africans by Forbes, and one of the top 100 personalities transforming Africa by French magazine, Financial Afrik.
Zion Adeoye will be appointed as CEO of Centurion Law Group, after serving as Managing Director under Mr. Ayuk for many years. Mr. Adeoye holds an LLB from Nigeria's University of Ibadan, an LLM from Columbia University in the City of New York and an MBA from the University of Dundee, Scotland.
“Mr. Ayuk's work in building one of the finest law firms in Africa, as well as his ability to serve clients, solve disputes and close complex transactions, cannot go unnoticed. All of the employees and clients of this firm cannot thank Mr. Ayuk enough for his leadership and dedication,” he stated.
“Working with Mr. Ayuk, our team has accomplished what few gave us the chance – important legal and public policy victories across Africa, deal after deal for entrepreneurs, winning tough legal cases in complex jurisdictions while enforcing the rule of law, opening new markets and instilling in Africans the belief that African lawyers can do great things,” concluded Mr. Adeoye.
During his time at Centurion, Mr. Adeoye has demonstrated a relentless pursuit of excellence and made outstanding contributions to the firm's growth. As a seasoned attorney with extensive experience in energy law, he has played a pivotal role in securing favorable outcomes for clients across the continent.
Mr. Adeoye is a member of the Nigerian Bar Association and the Association of Independent Petroleum Negotiators. Before joining Centurion in 2017, he served in various roles at the Nigerian Petroleum Development Company Limited, KPMG Nigeria, Terra Cotta Legal, Olaniwun Ajayi LP, Templars Law and Transnational Energy Group, and has been instrumental in the reform of oil and gas legislation across several African markets.
Mr. Adeoye was additionally awarded an ESQ 40 under 40 Lawyer Award at the Nigerian Rising Stars Awards for shaping the future of the legal profession in the country.
Distributed by APO Group on behalf of African Energy Chamber.
About Centurion Law Group:
Centurion (www.CenturionLG.com) is a leading pan-African legal and energy advisory group with extensive experience in the oil and gas sector. The group provides outsourced legal representation and covers a full suite of practice areas for its clients, including arbitration and commercial litigation, corporate law, tax and anti-corruption advisory and contract negotiation. Centurion specializes in assisting clients that are starting or growing a business in Africa with offices and Affiliates in Ghana, Cameroon, Canada, Germany, Congo, Equatorial Guinea, South Africa, South Sudan, Nigeria, Gabon, Angola and Senegal.
Dark Fusion Technologies, the company behind the Simple Contract Language (SCL), has made groundbreaking progress in the race to develop smart contracts and tokens on Bitcoin’s Layer 1, becoming one of the first projects to accomplish this incredible feat. This revolutionary development holds massive potential for the tech industry and various customers & institutions alike, …
New Ombud Council chairperson appointed
National Treasury has announced the appointment of Eileen Meyer as the new chairperson of the Ombud Council for a period of four years.
Meyer is reprising her role after she was appointed as interim chairperson for some 18 months in a term stretching from May 2021 to November 2022.
“Meyer is an Independent Public Management Consultant. She focuses on Strategic Leadership, Institutional Building and Capacity Development, Financial Management, Governance and Change Management. She holds a Master of Arts in Sociology (Major), Psychology and Political Science degree from the University of Hannover (Germany).
“[She] was instrumental in establishing the office of the Ombud Council and performing functions as an interim Chief Ombud,” the department said.
Meyer joins Advocate Dikeledi Chabedi, Adam Horowitz, Emmanuel Lekgau and Charmaine Soobramoney, who were reappointed as members of the Ombud Council Board of Directors.
The Commissioner of the Financial Sector Conduct Authority, Unathi Kamlana, serves as an ex officio member of the Board of Directors.
The department explained that the ombud has oversight powers on the following statutory and industry ombuds:
“The Ombud Council is responsible for recognising industry schemes, set enhanced governance and accountability requirements, and harmonise and strengthening standards of practice for each ombud scheme through rule-making and enforcement powers, to develop a uniform and consistent framework for external dispute resolution mechanisms across the financial services sector.
“The Ombud Council is the regulator of ombuds schemes within the financial sector, and its objective is to, in line with the Twin Peaks model of financial regulation objectives of treating customers fairly, assist in ensuring that financial customers have access to, and are able to use affordable, effective, independent and fair alternative dispute resolution processes for complaints about financial institutions in relation to financial products, financial services and services provided by financial infrastructures,” the department said. – SAnews.gov.za
NeoB
Tue, 11/28/2023 - 09:39
South Africa, the United Arab Emirates, Egypt and Saudi Arabia are doing the most to combat climate change in the Middle East and Africa, according to a new report that compares government and business sustainability policies, investment and actions.
Download document: (https://apo-opa.co/49FTzKm)
The Middle East and Africa Environmental Sustainability Scorecard (https://apo-opa.co/49Bcfeq), released Thursday, is ta detailed examination of country performance in environmental sustainability outcomes, government policies, and corporate practices in the two regions.
The report concludes that the 17 countries covered “are relative ‘late comers' to global sustainable development but at the same time represent regions that are rapidly stepping-up their sustainability strategies, programs and investments.”
The report was commissioned by Agility (www.Agility.com), a global supply chain services company based in Kuwait. It was compiled by Horizon Group (www.Horizon-Group.ch), a Geneva-based firm that specializes in research and analysis for governments, international organizations, and leading businesses worldwide.
South Africa is among the leaders in four of six pillar categories. It is 2nd in Sustainable Energy & Transport; 5th in Energy Transition; 2nd in Environmental Ecosystems; and 2nd in Circularity. Among African countries, South Africa is 3rd in Green Investment & Technology behind Morocco and Egypt.
Among the factors driving South Africa's performance: a national Biofuel Industrial Strategy; formal code of corporate governance; ESG reporting requirements and transparency and accountability standards for companies listed on the Johannesburg Stock Exchange; a World Bank energy transition partnership to decommission a coal-fired power plant and replace the power supply with renewable energy and batteries; and steps to protect habitat and cut pollution.
Egypt ranks 3rd overall in the scorecard. It is 5th in Green Investment & Technology; 7th in Sustainable Infrastructure & Transport; 5th in Governance & Reporting; 3rd in Environmental Ecosystems; and 1st in Circularity, which measures resource use and waste management.
A food security and African displacement launched by Egypt contributed to its ranking, along with its participation in a Qatar-led carbon credit program.
Other top performers in Africa: Morocco is 3rd in Green Investment & Technology and 3rd in Governance & Reporting; Rwanda and Kenya are 5th and 6th in Sustainable Infrastructure & Transport.
African countries dominate the energy transition, mainly on the strength of their green transport and energy conservation efforts. Uganda, Nigeria, Rwanda, Kenya, South Africa, Ghana, Tanzania, Mozambique, Cote d'Ivoire, Egypt and Morocco are Nos. 1 through 11 in Energy Transition.The scorecard uses 48 performance and progress indicators to compare countries. The indicators include data, regulatory frameworks, policy assessments, incentives and corporate practices across six pillar areas: green investment and technology; sustainable infrastructure and transport; governance and reporting; energy transition; environmental ecosystems; and circularity. To capture corporate practices and progress, Horizon surveyed 647 business executives in the 17 countries.
Overall, 1 through 17, here's how the countries rank: South Africa, UAE, Egypt, Saudi Arabia, Rwanda, Kenya, Uganda, Ghana, Morocco, Qatar, Tanzania, Nigeria, Bahrain, Kuwait, Cote d'Ivoire, Oman, Mozambique.
Key Findings
• Business isn't paying attention to COP. Eighty-two percent of African businesses and 49% of Middle East businesses are not aware of the UN-led COP process that nations are using to push and measure efforts to tackle climate change. Few companies use COP to set their sustainability targets.
• Climate change is hurting businesses. Ninety-seven percent of companies say their business has been affected by climate change, and 49% say climate change has caused “severe damage” or has a “significant and growing” impact on them.
• Governments are leading as businesses play catch up. When it comes to climate action, governments are outpacing the private sector in both the Middle East and Africa.
• No one size fits all. Different countries have different sustainability priorities based on income, economic strengths, energy dependency, and other factors. High-income, energy-producing Gulf countries generally invest more in sustainable infrastructure and ecosystems. African economies perform best in energy conservation and consumption.
• Green investment is expensive. High- and middle-income countries are investing the most: Qatar, UAE, Morocco and Saudi Arabia.
• Africa is focused on green transport. African countries topped the scorecard in the move to non-fossil fuels for transport. Hydrocarbon producing Gulf countries are focused more on green buildings. For Gulf countries, the transition to cleaner energy is complicated by energy-intensive national priorities: the desire to boost manufacturing and the need for desalinated water.
• Waste management, consumption are tied to wealth. High-income countries are doing more to manage waste sustainably. Poorer ones do more to constrain consumption. Overall Egypt, South Africa, Bahrain and UAE perform best in “circularity” – cutting waste, encouraging recycling and sustainable production, and lowering consumption.
Agility was recently named the No. 3 Middle East “Sustainability Leader” for Transport & Logistics by Forbes Middle East. Vice Chairman Tarek Sultan said the company's strategy and investment decisions are increasingly shaped by the urgency of the climate fight.
“As a supply chain operator and investor in the Middle East and Africa, we want to know what governments and businesses are prioritizing, and where they're putting resources in the climate change battle,” Sultan said. “We want to know who we can partner with in green infrastructure and transport, alternative fuels, and supply chain services that reduce environmental impact without sacrificing performance.”
Horizon, which compiled the scorecard report for Agility, said its intent was to look “beyond the selective characteristics of the Middle East being fossil fuel-dependent with high greenhouse gas emissions per capita, and African countries being low emitters of greenhouse gases but taking relatively little action on the environment.”
The scorecard report comes on the eve of COP28, the UN-led global climate change conference convening from Nov. 30 to Dec. 12 in Dubai. Its findings amplify those in a World Economic Forum (WEF) report (https://apo-opa.co/3MKvh8d), issued in October, on decarbonization and energy transition in the Middle East and North Africa.
The WEF report concluded that “MENA countries trail behind comparable regions in terms of their sustainability progress. While local governments have pledged in the past 24 months to bring 60% of MENA's emissions under the net zero ambition, businesses overall have yet to follow suit and bridge the gap with comparable global markets –12% have set up a net zero target and 6% have established a roadmap to reach net zero.”
Distributed by APO Group on behalf of Agility.
Media contact:
Sabrina Mundy
Man Bites Dog
teamagility@manbitesdog.com
+44 1273 716 820
For more information about Agility, visit:
Website: www.Agility.com
Twitter: https://apo-opa.co/40Ki6Kj
LinkedIn: https://apo-opa.co/49GTqqq
YouTube: https://apo-opa.co/3MNqYJr
About Agility:
Agility (www.Agility.com) is a global leader in supply chain services, infrastructure, and innovation with 45,000+ employees across six continents. A multi-business operator and investor, Agility specializes in growing and scaling operating businesses. Agility's companies include the world's largest aviation services company (Menzies Aviation); a global fuel logistics business (Tristar); a leading logistics parks developer and operator across the Middle East, South Asia, and Africa (Agility Logistics Parks); and a commercial real-estate company developing a mega-mall in the UAE (UPAC). Other Agility companies offer customs digitization services, remote-site infrastructure services, defense and government services, and ecommerce-enablement and digital logistics. Agility invests in supply chain innovation, sustainability, and resilience, and has minority holdings in a growing portfolio of listed and non-listed companies.
SA, Qatar bolster relations
President Cyril Ramaphosa has deemed his visit to Qatar as significant, saying it serves as an opportunity to discuss and share views on the recent international developments.
“This visit is very significant, not only as an opportunity to strengthen bilateral relations between our two countries, but also to share views on recent international developments.
“The events in Palestine, and the growing deaths of civilians, particularly children, grieves us all. South Africa supports all efforts to secure an immediate and full ceasefire, with talks on a political solution to address the legitimate aspirations of the Palestinian people for statehood,” President Ramaphosa said.
The President was delivering remarks at the Qatar - South Africa Business Roundtable in Doha, Qatar, on Wednesday.
President Ramaphosa is currently on a two-day State Visit in Qatar at the invitation of His Highness Sheikh Tamim bin Hamad Al Thani, Amir of the State of Qatar.
The visit occurs in the context of three decades of diplomatic relations. The two countries will celebrate the 30th anniversary of establishing diplomatic relations on 11 May 2024. This is President Ramaphosa's first visit to the State of Qatar as Head of State.
President Ramaphosa told the roundtable that while the political relationship between the two countries is strong, much more can be done with each other in areas of trade, investment and economic development.
“For this reason, I am particularly pleased that I have had an opportunity to engage with both the Qatari Business Association and the Qatar Chamber of Commerce earlier. I want to point to five features of the South African economy that offer us the opportunity to build and expand our economic relationship,” he said.
Firstly, the President highlighted that South Africa is Africa’s most industrialised economy with well-established companies.
He told the roundtable that many of these companies are active in the Middle East and Qatar. The President mentioned companies like Sasol in the petro-chemical sector with its advanced technologies and iconic consumer brands such as Nandos and Ocean Basket.
“South African has well developed manufacturing and services sectors. South African agriculture and agro-processing companies are world class, and we can support the Food Security Program of the State of Qatar.
“Beyond these, South Africa is developing its expertise in areas such as pharmaceuticals, the space industry and advanced manufacturing,” he said.
Secondly, the President said South Africa is developing greater market access across the world.
He mentioned that the country has free trade agreements in place with the European Union and the United Kingdom and is about to implement the African Continental Free Trade Area, uniting 54 economies into a large tariff-free market intended to cover 1.3 billion consumers.
In addition, South Africa currently has access to the US market on preferential terms through the African Growth and Opportunities Act (AGOA) and preferential access to certain Latin American markets.
Thirdly, President Ramaphosa emphasised that the African continent has vast resources of critical minerals that will be used as the world embraces cleaner, greener growth.
With Qatar’s experience, technology and capital in the petrochemicals, natural gas and energy infrastructure, President Ramaphosa said government is looking to companies from Qatar partnering with South Africa as it implement its just energy transition.
Fourthly, the President highlighted that the country is embarking on far-ranging economic reforms that provide opportunities for partnerships between foreign investors and domestic firms in South Africa.
He said the energy market is being restructured. The public electricity utility, Eskom, which faced severe challenges, has improved maintenance of its generation fleet and has received debt relief from the State to strengthen its financial position.
“Private energy generation, specifically in renewables, constitutes a growing share of total energy generated. Since the implementation of regulatory changes, the pipeline of private sector generation projects has increased to over 100 projects representing more than 10,000 MW of potential new capacity,” he said.
Fifthly, the President told the business roundtable that the country has a stable legal system, strong protections of property rights, a deep capital market with Africa’s largest stock exchange, and a growing pool of skilled employees.
“South Africa is ready to build partnerships for faster, sustainable and inclusive growth. South Africa is keen to deepen our bilateral relationship with Qatar. We look forward to partnering in sectors such as agro-processing, automotive, aquaculture, manufacturing, hydrocarbons, infrastructure, hospitality and tourism, to mention a few.
“I invite Qatar to join us in developing a portfolio of South African investments that your sovereign wealth fund and your private sector can participate in,” the President said.
President Ramaphosa commended the business delegations from South Africa and Qatar for their engagement, adding that he look forward to successful outcomes. – SAnews.gov.za
DikelediM
Wed, 11/15/2023 - 15:20
The MultiChoice Group (www.MultiChoice.com), an official African media broadcast partner for The Earthshot Prize, will once again air the prestigious competition's third annual awards ceremony which was filmed in Singapore on Tuesday 7 November, and reveals the five winners of The Earthshot Prize.
This year, the Awards was hosted by Emmy-award winner Hannah Waddingham, who was joined by Academy award-winning actor and Earthshot Prize council member Cate Blanchett, actor Lana Condor, wildlife conservationist Robert Irwin, and actor and humanitarian Nomzamo Mbatha to announce the five winners who will each be awarded £1 million to help scale their solutions and accelerate their positive impact on people, communities, and the planet.
In addition to spotlighting the stories of The Earthshot Prize Finalists and Winners, the broadcast will feature inspirational performances from some of the world's most exciting musical artists, including Bastille, OneRepublic and Singaporean choral society, Voices of Singapore.
ABALOBI was founded in South Africa by Serge Raemaekers and Nico Waldeck as a non-profit partnership between fishers and scientists. Its aim is to protect small-scale fishing communities and nurture their ocean stewardship, while arming their customers with better information about where their seafood comes from.
An ABALOBI app connects fishers with a digital marketplace where they register their catches and log precisely how, when and where the fish originate. For the first time, small-scale fishers have a tool to demonstrate transparently that they are fishing sustainably, and in exchange, they receive a fair price for their catch.
Led by Manja Kargbo, Freetown the Treetown is an ambitious, city-led, “pay-to- grow” scheme to plant, grow and digitally track trees, which aims to restore what has been lost and protect it for future generations.
Through this initiative, city residents are paid to plant and monitor trees and mangroves, which are tracked via an online platform. The initiative is funded with tokens sold on private and carbon markets. The city council also works with locals to raise awareness of the importance of its trees and engage the community in restorative activities.
Inspired by President John F. Kennedy's “Moonshot” challenge that pioneered space travel in the 1960s, The Earthshot Prize is an ambitious global environmental prize which aims to discover and scale the best solutions to help repair our planet within the remainder of this decade.
Every year, The Earthshot Prize will find and reward solutions to five “Earthshot” goals – Protect and Restore Nature; Clean Our Air; Revive Our Oceans; Build A Waste-Free World and Fix Our Climate. These winning solutions will have the greatest impact on the biggest environmental challenges facing our planet and winners and finalists will have access to a global support network to scale their work.
The award ceremony will air on MultiChoice channels across Africa from Monday, 13th November:
|
CHANNEL |
1st BROADCAST – 13 Nov |
REPEAT BROADCAST |
|
M-Net 101/SADAC |
21h00 (CAT) |
14 Nov @12h00 (CAT) |
|
M-Net E & W |
21h00 (EAT/WAT) |
14 Nov @12h00 (EAT/WAT) |
|
1Magic |
21h00 (CAT) |
19 Nov @23h00 (CAT) |
|
Maisha Magic East |
21h00 (EAT) |
19 Nov @15h00 (EAT) |
|
One Zed |
21h30 (CAT) |
18 Nov @17h00 (CAT) |
|
ZTN |
21h00 (CAT) |
20 Nov @20h00 (CAT) |
|
3KTV |
21h00 (CAT) |
15 Nov @21h00 (CAT) |
|
Africa Magic Family |
21h00 (WAT) |
16 Nov @15h00 (WAT) |
|
Mambo Moto |
21h00 (EAT) |
14 Nov @15h00 (EAT) |
|
Maisha Magic Poa |
21h00 (EAT) |
19 Nov @18h00 (EAT) |
|
Pearl Magic |
21h00 (EAT) |
19 Nov @12h00 (EAT) |
|
Akwaaba Abusua |
21h00 (GMT) |
20 Nov @16h00 (GMT) |
|
NewzRoom Afrika |
21h00 (CAT) |
18 Nov @17h00 (CAT) |
|
Showmax (All Regions) |
14 November 06h00 |
|
Distributed by APO Group on behalf of MultiChoice Group.
For more information on contact:
MultiChoice Group Contact Details:
Litlhare Moteetee, Senior Manager: Corporate Communications
Tel: +27 72 490 4609
Litlhare.Moteetee@Multichoice.co.za
The Earthshot Prize Contact Details:
Taylor Patterson, Director of Media and Engagement
Taylor.patterson@earthshotprize.org
About MultiChoice Group:
MultiChoice Group (MCG), listed on the Johannesburg Stock Exchange (JSE), is a leading provider of entertainment and related consumer services, with an expanding ecosystem, underpinned by scalable technologies, and a track record now spanning almost 40 years. MCG provides video entertainment products and services through its linear and streaming platforms to 23.5m households across 50 countries on the African continent and continues to grow by producing and acquiring the best local, sport and international content and offering tiered subscription packages and aggregated streaming services to its customer base. MCG's superior technology capabilities enables it to continue innovating around distribution, digital and payment solutions and content security to offer the best customer experience across the continent. Reaching up to 100 million individuals on a daily basis, the MultiChoice Group is using its scale and distribution to expand its platform to include sports betting and interactive entertainment, fin-tech services, household services (focused on internet connectivity and emergency response services) and ed-tech. Irdeto, MCG's technology business, provides platform cybersecurity services which protect over 6bn devices and applications globally for some of the world's best media and technology brands, as well as clients in the connected industries sector.
About The Earthshot Prize:
Founded by Prince William and The Royal Foundation in 2020, The Earthshot Prize (www.EarthshotPrize.org) is a global environmental prize to discover, accelerate and scale ground-breaking eco-solutions to repair and regenerate the planet. Inspired by President John F. Kennedy's Moonshot, which united millions of people around the goal of reaching the moon, The Earthshot Prize aims to catalyse an Earthshot challenge to urgently encourage and scale innovative solutions that can help put the world firmly on a trajectory towards a stable climate, where communities, oceans and biodiversity thrive in harmony by 2030. The five challenges are: Protect and Restore Nature; Clean our Air; Revive our Oceans; Build a Waste-free World; and Fix our Climate.
The Prize aims to turn the current pessimism surrounding environmental issues into optimism but championing inspiring leadership and helping to scale incredible cutting-edge solutions. It will discover 50 winners over 10 years with the power to repair the planet. More than a prize, The Earthshot Prize works in partnership with a Global Alliance of Partners to support the scaling of the solutions discovered and selected each year.
The Global Alliance Founding Partners are a group of leading global organisations and philanthropists which act as strategic funding partners to the Prize, including Aga Khan Development Network, Bezos Earth Fund, Bloomberg Philanthropies, Breakthrough Energy Foundation, Coleman Family Ventures, DP World in partnership with Dubai EXPO 2020, Eleven Eleven Foundation, Holch Povlsen Foundation, Jack Ma Foundation, Legado Para A Juventude, Marc and Lynne Benioff, Mastercard Center for Inclusive Growth, Paul G. Allen Family Foundation and Rob & Melani Walton Foundation.
Global Alliance Partners are non-profit environment and sustainable development organisations that bring expertise, global reach and serve as nominating organisations each year. For full list see website: Global Alliance - Earthshot Prize (https://apo-opa.info/3QvHM8G).
Global Alliance Members are some of the world's largest and most influential companies and brands who will support The Earthshot Prize, implement ambitious changes within their businesses and accelerate the advancement of the solutions of Prize Finalists and Winners. They are: Arup, Bloomberg L.P., Deloitte, Herbert Smith Freehills, Hitachi, Ingka Group (IKEA), Microsoft, The MultiChoice Group, Natura &Co, Safaricom, Salesforce, Unilever, Vodacom Group, Walmart.
Andrew Maren, founder and CEO of Fintech company ProfitShare Partners, is giving entrepreneurs who lack access to funding an opportunity to succeed by cutting through the red tape that so often leaves small and medium enterprises (SMEs) hamstrung. “The failure rate of start-up businesses is high,” notes Maren, with around half failing to make it …
Urgent need to address Eskom transmission to deal with load shedding
Electricity Minister, Dr Kgosientsho Ramokgopa, has described load shedding as an economic problem that government is urgently addressing, as his department relentlessly tackles generation and transmission challenges.
“It's a structural constraint to the economy of the country and therefore it's indispensable to the resolution of the economic question in the country,” he said on Thursday.
The Minister is hosting a Transmission Financing Seminar with the Johannesburg Stock Exchange (JSE).
The gathering will discuss the financing of South Africa’s Transmission Development Plan, which seeks to expand, support and secure the sustainability of South Africa’s energy mix and electricity supply.
The seminar brings together government, energy industry veterans and potential private sector investors to engage in a critical conversation on South Africa’s energy crisis.
Ramokgopa touched on the country’s Energy Action Plan (EAP), a comprehensive response by government to address the challenge of power cuts.
“In 1997, we were told that at the rate at which you are connecting households to the grid and the economy is growing, you're going to run into a generation problem, a capacity problem 10 years later, and we know that we ran into that problem.”
This is the reason he believes the country needs to speedily attend to transmission with the same vigour it is handling generation capacity.
“We are saying also now if you don't resolve the issues on the transmission side, having that problem today might not be as pronounced and I want to argue that it will be pronounced in the next six to 12 months.
“The similar amount of effort and exertion you’re placing on the generation side requires that they be placed also on the transmission side.”
Eskom's transmission has the mandate to reliably control, maintain, plan, expand and provide access to an interconnected transmission system.
Ramokgopa told the summit that part of the problem that is confronting Eskom is structural constraint primarily presented by two issues – energy deficit and issues of logistics.
The Minister spoke frankly about the impact of load shedding.
He highlighted agriculture and manufacturing as sectors that are heavily impacted by severe shortages in power generation capacity.
“And what this does really borrows from the modelling that has been done by the South African Reserve Bank, which begins to illustrate the kind of injury that is inflicted by load shedding on the South African economy, potentially contracting the economy.”
The Minister has since called for all hands on deck to contribute towards the resolution of this “bleak picture”.
Ramokgopa, who has visited all power plants to better understand the challenges, said there are communities and businesses that have not had electricity for about six years.
“This is not an exaggeration. And so as a result of the failure of the distribution infrastructure, I'm talking about transformers and substations, and this comes about as a result of municipalities being financially unviable.”
The Minister said he will introduce regular updates on the transmission side.
“[This] is after we've gone to Cabinet [to present] the options that are available to us. Once that is adopted, then we will give feedback and then we're doing a significant amount of work on the distribution side (sic).”
These interventions will see the country significantly strengthen and increase South Africa’s electricity supply and capacitate the energy sector in meeting global decarbonisation targets, thereby ensuring South Africa’s long-term energy security and energy sovereignty. – SAnews.gov.za
Gabisile
Thu, 09/21/2023 - 11:17
Electricity Minister to co-host South African Transmission Financing Seminar
Minister in The Presidency for Electricity, Dr Kgosientsho Ramokgopa, is expected to co-host a Transmission Financing Seminar with the Johannesburg Stock Exchange (JSE) on Thursday.
The Minister will deliver a keynote address at the seminar.
According to a statement, the seminar is aimed at galvanising “discussions on the financing of South Africa’s Transmission Development Plan, which seeks to expand, support and secure the sustainability of South Africa’s energy mix and electricity supply”.
“The development and expansion of South Africa’s electricity transmission infrastructure is a critical cog to enabling diverse energy solutions, which are geographically located in various parts of the country, to contribute to the country’s electricity grid.
“This will significantly strengthen and increase South Africa’s electricity supply and capacitate the energy sector in meeting global decarbonisation targets and ensuring South Africa’s long-term energy security and energy sovereignty,” the statement read.
Various industry stakeholders are expected to attend the seminar.
“The seminar will bring together government, energy industry veterans and potential private sector investors to engage in a critical conversation on South Africa’s transmission infrastructure requirements for long-term energy security; explore alternative funding mechanisms for maintaining, modernising and expanding the national grid and an exchange on international experience of countries that have had similar challenges and what models were pursued to overcome these challenges,” the statement read. – SAnews.gov.za
NeoB
Wed, 09/20/2023 - 09:25
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