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South Africa remains an “attractive investment destination” – President Ramaphosa
South Africa remains an "attractive investment destination" - President Ramaphosa
In his weekly newsletter, President Cyril Ramaphosa says the growth of South Africa’s automotive sector is a demonstration of “the potential of South Africa as an investment destination”.
The President said 2023 was a milestone year for South Africa’s automotive sector with the sixth millionth South African built vehicle exported with new vehicle exports reaching nearly 400 000.
“These figures are significant for a number of reasons. They show that our auto sector continues to grow despite a gloomy global economic outlook and disruptions to the flow of goods between countries.
“The growth of the automotive sector also demonstrates the potential of South Africa as an investment destination. It is a good example of how committed investors, supported by government policies and programmes, can achieve good returns for their shareholders while contributing significantly to the South African economy,” President Ramaphosa said.
The President pointed out that world leading vehicle manufacturers and other companies continue to pour more investment into South Africa.
“By way of example, Volkswagen last month announced a R4 billion investment to expand its Kariega plant in the Eastern Cape in preparation for the production of a new vehicle model expected to roll off the assembly line in 2027. This investment is expected to secure the livelihoods of approximately 3500 workers and support an additional estimated 50 000 indirect jobs and opportunities.
“South Africa’s value as an investment destination extends across many other industries, as local and international companies continue to either expand their investments or undertake new investments.
“Investment is important because, among other things, it creates employment, supports the growth of emerging suppliers, generates revenue for the country, and, in doing so, supports our efforts to reduce poverty and inequality,” he said.
According to the President, a recent report by PricewaterhouseCoopers (PwC) has found that net foreign direct investment (FDI) into South Africa has been consistently positive since the global financial crisis of 2007 to 2009 – meaning more investment has come into the country than out.
“Last year, FDI inflows amounted to R96.5 billion, equivalent to 1.4 percent of our Gross Domestic Product (GDP). This supports a trend where foreign direct investment has, on average, been far greater over the last five years than over the previous decade.
“The PwC report notes that South Africa has attractive fundamentals, such as world-class financial services and communications industries, deep capital markets, abundant natural resources and a transparent legal system. Furthermore, South Africa is ‘a strategic geographical location for entry into the rest of sub-Saharan Africa’,” he said.
Addressing challenges
President Ramaphosa highlighted that although there is a “broadly positive attitude towards South Africa among investors”, more work needs to be done to ensure that the FDI as a percentage of GDP is heightened.
“That is why we continue to work to implement our policies and align regulatory and other obstacles, so that we can attract higher levels of investment. Through the auction of broadband spectrum and progress in digital migration, for example, we have greatly expanded opportunities in telecommunications.
“We have significantly reduced waiting times for water use licences and other authorisations that are so important for getting major investment projects off the ground. We are working to get rid of other forms of red tape that impede and slow down investment,” the President said.
He also acknowledged that South Africa’s electricity problems remain a “major challenge to our people and the economy at large” and issues at ports and rail are being addressed.
“Through our Energy Action Plan, we have made much progress in dealing with the country’s electricity crisis. We have seen an improvement in the performance of Eskom’s power stations and substantial investment in new generation capacity. This has contributed to a sustained decrease in the severity of load shedding.
“The work we are doing with business, labour and other social partners in improving the efficiency of our ports and rail infrastructure is also starting to bear fruit. Further progress in these areas will increase the country’s competitiveness and attractiveness as an investment destination,” the President said.
The President assured that government will continue in its path towards economic recovery.
“We will continue to build on the gains that we have made towards creating an enabling business and investment climate that promotes economic growth and creates jobs.
“It is only through attracting higher levels of investment, both foreign and domestic, that a swift, sustainable economic recovery can be assured,” President Ramaphosa said. – SAnews.gov.za
NeoB
Tue, 05/07/2024 - 10:27
275 views
Winners of the Milken-Motsepe Prize in Green Energy Announced During Opening Session of Milken Institute Global Conference
Prize program awards Aftrak the $1 million Grand Prize to advance green energy in Africa; OMNIVAT awarded runner-up prize of $250,000; The organisations also launch a new FinTech Award in the next installation of the Prize program; winners will be selected in May 2025.
The Milken Institute (https://apo-opa.co/44yU0nF) and the Motsepe Foundation today announced the winners of the Milken-Motsepe Prize in Green Energy, a $2 million innovation competition to reward entrepreneurs working to expand access to reliable, affordable, and sustainable off-grid electricity in Africa. The winners were announced at the Milken Institute Global Conference in Los Angeles.
Aftrak (https://apo-opa.co/4bKg4OT), an initiative based out of the UK and Malawi, was awarded the $1 million Grand Prize for its easily assembled solar microgrid and custom-designed tractors, which have tripled agricultural yield, increased farmer incomes, and provided electricity to remote communities. The runner-up award of $250,000 was presented to South Africa-based OMNIVAT (www.OMNIVAT.Tech) for its containerized electricity generation and storage system, which provides clean water, clean energy, and Wi-Fi enriched by virtual reality support for remote communities.
The Milken-Motsepe Prize in Green Energy is the second in the Milken–Motsepe Innovation Prize Program, a series of multiyear, multimillion-dollar global innovation competitions and awards aimed at advancing technological progress toward the UN Sustainable Development Goals (SDGs). The first competition in this program, the Milken–Motsepe Prize in AgriTech, was launched in 2021, and focused on addressing the goals of no poverty and achieving zero hunger.
Rigorous Judging Process
After launching in November 2022, hundreds of entrepreneurs from 79 countries on six continents registered to compete for the Milken-Motsepe Prize in Green Energy, and 160 of those submitted technological design and business models. In June 2023, an independent panel of expert judges carefully selected 20 semi-finalists to receive $20,000 to develop and test their innovations.
Each of the teams underwent a rigorous, independent judging process, which assessed their innovation's potential to deliver 60 kilowatt hours of off-grid electricity in a 24-hour period using only sustainable sources. Five teams were then chosen to advance to the Finalist Round. Each team received an additional $70,000 and showcased their innovations in a live demonstration in partnership with Stellenbosch University in South Africa.
“Meeting the teams and witnessing their work and determination to solve one of the biggest challenges facing Africa was truly inspiring,” said Dr. Precious Moloi-Motsepe, co-founder and CEO of the Motsepe Foundation. “We congratulate the Green Energy winners and all the finalists. Your innovations show such promise, and we will be watching with pride as you bring your technologies to market.”
The third Milken-Motsepe Prize, focused on FinTech, launched at the 2024 Milken Institute Global Conference. The prize will award companies that demonstrate the use of cutting-edge technologies to expand access to capital and financial services for small businesses in emerging and frontier markets.
The Milken-Motsepe Prize in FinTech offers $2 million in prizes, with a $1 million Grand Prize for the winning company. Registration is open until August 6.
The transformative potential of FinTech lies in its capacity to empower individuals to start and grow a business, even in the most remote communities. By lowering transaction costs, streamlining processes, and expanding access to capital and financial services, FinTech can enable aspiring entrepreneurs to turn their ideas into reality. The Milken-Motsepe Prize in FinTech is designed to leverage the potential of FinTech solutions to break down barriers to financial inclusion and contribute to the achievement of key SDGs, including alleviating poverty (SDG 1), promoting human well-being (SDGs 3 and 4), achieving gender equality (SDG 5), and fostering viable economic opportunities for young people (SDGs 8 and 9).
Milken-Motsepe Innovation Prize Impact
“The impact of Milken-Motsepe Innovation Prizes goes well beyond the financial awards,” said Dr. Emily Musil Church, senior director, environmental and social innovation at the Milken Institute. “This is a global community of entrepreneurs who believe in imagining and building a better, more abundant, and sustainable world. Our role is to identify and support these bold entrepreneurs and to help accelerate their success.”
The Milken-Motsepe Innovation Prize Program is a program of MI Philanthropy (https://apo-opa.co/3JSwhFM), which aims to influence the deployment of philanthropic capital to create a better world. MI Philanthropy's work includes the Science Philanthropy Accelerator for Research and Collaboration (SPARC), which has, to date, influenced more than $2 billion in medical research funding.
Distributed by APO Group on behalf of The Milken-Motsepe Innovation Prize Program.
For more information about the winners and the Milken-Motsepe Innovation Prize Program, visit https://MilkenMotsepePrize.org/.
Notes to Editors:
For further information or to request interviews with the winners, please send requests or queries to the media contact below.
Media Contact:
Ima Peter
+27 11 268 6388
ima.peter@razorpr.co.za
About the Milken Institute:
The Milken Institute is a non-profit, nonpartisan think tank focused on accelerating measurable progress on the path to a meaningful life. With a focus on financial, physical, mental, and environmental health, we bring together the best ideas and innovative resourcing to develop blueprints for tackling some of our most critical global issues through the lens of what's pressing now and what's coming next. For more information, visit https://MilkenInstitute.org.
About the Motsepe Foundation:
The Motsepe Foundation was founded in 1999 by Dr. Patrice Motsepe and his wife, Dr. Precious Moloi-Motsepe. The goal of the Motsepe Foundation is to contribute towards eradicating poverty and to sustainably improve the living conditions and standards of living of poor, unemployed and marginalised people in South Africa, Africa, and the world. In January 2013, Dr. Patrice Motsepe and Dr. Precious Moloi-Motsepe joined the Giving Pledge, which was started by Warren Buffet and Bill and Melinda Gates. Dr. Patrice Motsepe and his wife committed to give half of their wealth to the poor and for philanthropic purposes during their lifetime and beyond.
DWS reiterates commitment to fast-track bulk water projects
DWS reiterates commitment to fast-track bulk water projects
The Department of Water and Sanitation (DWS) has reiterated its commitment to fast-track the effective implementation of bulk water projects in water stressed communities in KwaZulu-Natal and across the country, so as to ensure the provision of consistent and reliable water supply.
This comes as the department, through its entity in KwaZulu-Natal, uMngeni-uThukela Water, is working in partnership with different spheres of government to rollout the Maphumulo Bulk Water Supply Scheme.
The Maphumulo Bulk Water Supply Scheme Water Treatment Works upgrade is a strategic rural-based project to be constructed at a cost of approximately R142 million to ensure access to potable water.
The project, which is set to be completed by January 2025, will supply 12 megalitres per day (Mℓ/d) of potable water from the Maphumulo Water Treatment Works for reticulation by iLembe District Municipality.
Departmental spokesperson, Wisane Mavasa explained that the Maphumulo Bulk Water Supply Scheme is being implemented in different phases which include, raw water abstraction from iMvutshane River, and new pipelines to distribute water from the treatment works to iLembe District Municipality’s greater Maphumulo area.
Mavasa said Phase 1 of the scheme was completed in September 2013 with Phase 3 of the project currently underway.
“We are currently undertaking Phase 3 of the project which entails the upgrade of the existing six megalitres per day water treatment plant capacity to 12 megalitres per day, and this is due for completion by January 2025. Phase 2 of the scheme include the construction of the iMvutshane Dam,” Mavasa said.
Mavasa added that Phase 4 of the Maphumulo Bulk Water Supply Scheme will include the construction of a weir on the Hlimbitwa River, raw water pumps, and pipelines to convey raw water into the existing iMvutshane Dam.
After the completion of all phases, Mavasa said the supply scheme will service the areas of Maphumulo, Masibambisane, KwaSizabantu, Ngcebo, Maqumbi, and Ashville.
The service will in the future also include Emtanjeni, Nyamazane, Balcom, and Sindi areas.
“We anticipate that the scheme will provide potable water to approximately 150 000 consumers across Maphumulo, Masibambisane, KwaSizabantu, Ngcebo, Maqumbi, and Ashville,” Mavasa said.
Vandalism
The department has also called on residents to report and refrain from vandalising water infrastructure, warning this has a major impact on water security to communities.
“Vandalism is a serious concern to us because not only does it impact on the provision of reliable water supply, but it also has a negative impact on the effective implementation of bulk water projects.
“We therefore call on residents to please play their part. Vandalism is a criminal offence, and we will not hesitate to allow the relevant authorities to act harshly against the perpetrators,” Mavasa said. – SAnews.gov.za
GabiK
Tue, 05/07/2024 - 10:39
26 views
Reuseable bottles vs beverages packaged in plastic: Which comes out top?
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Exploring the African Wilderness with Kosher Tours African safaris are an unparalleled adventure that beckons travellers with the allure of wild landscapes and exotic wildlife. For kosher travellers, the journey into Africa’s heartlands is now more accessible and enjoyable, thanks to tailored kosher safaris. These specialised tours ensure that dietary laws are meticulously adhered to, …
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Mchunu commends progress in addressing KwaXimba water challenges
Mchunu commends progress in addressing KwaXimba water challenges
Water and Sanitation Minister, Senzo Mchunu, has expressed optimism at the work being carried out to address water supply challenges in KwaXimba within the eThekwini Metropolitan Municipality, in KwaZulu-Natal.
This follows a commitment made by Mchunu in February this year to fast-track the implementation of bulk water projects that are mainly implemented by the department’s entity, uMngeni-uThukela Water, working alongside the provincial and local spheres of government.
Speaking during a community imbizo on Thursday, the Minister noted that since his previous engagement with members of the KwaXimba community, there has been notable progress, despite some delays due to infrastructure vandalism.
“Since my previous interaction with you, we worked alongside the eThekwini Metro to fast-track the implementation of a package plant and associated infrastructure project to provide residents of KwaXimba, specifically the Mvini, Bhobhonono and Nonoti areas, with potable water,” Mchunu said.
The KwaXimba Package Plant and associated infrastructure project include an offtake from Nagle Aqueducts No. 01 and No. 02 with a 35m long 355mm diameter raw water pipeline, construction of a low lift pump station from the Nagle Aqueducts to the Package Plant, and the construction of a concrete slab to accommodate the 2 megalitres per day package plant, among others.
“The project will be completed in two phases, and this will see the supply of potable water to the Mvini area (Phase 1) and the supply of potable water to the Nonoti and Bhobhonono areas (Phase 2).
“Thus far, the decommissioning of the existing package plant from Mpofana (Mooi River) and transportation to the KwaXimba area is complete,” the Minister said.
The installation and commissioning of the package plant is scheduled to be completed by end of this month.
This intervention will ensure supply to the Mvini and Bhobhonono areas by the same month.
The implementation of the KwaXimba Package Plant has had socio-economic benefits resulting in job creation for 10 locals for Phase 1 of the project, with a further 20 anticipated to be appointed.
The Minister announced that Phase 2 of the project is on track and expected to be completed by November 2024. Phase 2 includes the installation of a 5 megalitres per day package plant, the construction of a potable water pump station, and the laying of a 7500m-long pipeline.
Phase 2 of the project will also see a total of 40 local job opportunities created.
“I have come back to assure you that my mandate is … to ensure water for all. Water is a source of life, and as a Minister appointed to ensure the provision of reliable and consistent water for all, politicking is the last thing I could ever do,” Mchunu said.
He warned the community about the impact of infrastructure vandalism, saying that the department will not hesitate to take stringent measures to address the criminality.
This comes after the vandalism of KwaXimba Package Plant, which was discovered on Thursday morning, prior to the Minister’s oversight inspection of the plant.
“Vandalism is a crime and anyone who commits it will be treated like the criminal that they are. uMngeni-uThukela Water has since opened a case with the South African Police Service and this is being investigated,” Mchunu said. – SAnews.gov.za
GabiK
Fri, 05/03/2024 - 09:39
488 views
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Water and Sanitation calls for wise water use as water levels drop in Mpumalanga
The Department of Water and Sanitation (DWS) calls on the public to use water wisely and sparingly as water levels drop in the Mpumalanga Province.
According to the latest DWS weekly state of reservoirs report of 29 April 2024, the Mpumalanga Province recorded a 0.7% drop from 98.2% to 97.5% on average water levels over the past week. In the Water Management Areas (WMAs), the Olifants WMA dropped from 87.2% to 87.0% and the Inkomati-Usuthu WMA dropped from 98.4% to 97.3%.
In terms of water levels per district, Ehlanzeni remained unchanged at 99.7%, Gert Sibande dropped from 97.1% to 95.7% and Nkangala dropped from 98.6% to 98.4%.
Ehlanzeni District and the Lowveld recorded mixed results with slightly more listed dams dropping in water while the rest recorded some improvements. On the positive, the listed dams that recorded improvements in water levels include Blyderivierspoort Dam increasing from 100.4% to 100.5%, Driekoppies from 100.3% to 100.5%, Klipkopjes from 99.6% to 99.8%, Primkop from 100.6% to 101.1%, and Da Gama from 99.8% to 100.3%.
Dropping in water levels in the Lowveld include Buffelskloof from 100.2% to 100.1%, Longmere from 100.2% to 99.8%, Witklip from 100.4% to 100.3%, Kwena from 100.4% to 100.3%, Inyaka from 100.4% to 100.3%, and Ohrigstad from 69.1% to 68.2%.
The majority of listed dams in Gert Sibande District recorded declines in water levels except for Westoe Dam which recorded an improvement from 70.5% to 70.8%.
On the decline in Gert Sibande District, Grootdraai Dam dropped from 97.1% to 96.9%, Nooitgedacht from 96.9% to 95.8%, Vygeboom from 100.6% to 100.5%, Jericho from 69.5% to 68.5%, Morgenstond from 100.5% to 90.0%, and Heyshope from 103.0% to 102.2
In Nkangala District, Witbank Dam remained unchanged at 99.0% with the rest of the listed dams recording declines in water levels.
The listed dams that recorded drops in water levels in Nkangala District include Middelburg Dam dropping from 96.5% to 96.2%, Loskop from 100.3% to 100.2%, and Rhenosterkop / Mkhombo dropping from 95.8% to 95.5%.
The Department of Water and Sanitation encourages the public to be more responsible and conservative in their water use as we enter the dry winter season taking into consideration that water has no substitute and South Africa is a water scarce country.
For more information, contact Wisane Mavasa, Spokesperson for the Department of Water and Sanitation on 060 561 8935 or Themba Khoza on 066 301 6962
Distributed by APO Group on behalf of South African Government.
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Mchunu invokes Section 63 in uThukela District Municipality
Mchunu invokes Section 63 in uThukela District Municipality
Water and Sanitation Minister Senzo Mchunu has invoked Section 63 of the Water Services Act in the uThukela District Municipality, in KwaZulu-Natal, in an effort to stabilise the state of water and sanitation in the area.
Mchunu took the decision during a meeting with the KwaZulu-Natal Cooperative Governance and Traditional Affairs MEC, Bongi Sithole-Moloi, and uThukela District Municipality Executive Mayor, Inkosi Ntandoyenkosi Shabalala.
The meeting was also attended by the KwaZulu-Natal Chairperson of Traditional Leaders, Inkosi Shinga, and the uMngeni-uThukela Water team, led by board Chairperson Advocate Vusi Khuzwayo.
Mchunu said the state of services at any water services authority (WSA) across the country is of interest to the department because their performance has an impact on the integrity of national government and the President of the country.
“As a bulk water supplier and a regulator of the sector, we can never look away when there are challenges...
“The water value chain includes us, and we are constitutionally bound to detect problems and where we see them, act decisively. When another sphere of government is facing challenges, there is a need for another sphere to intervene so that stability is brought about,” Mchunu said.
The Water Services Act of 1997 empowers the Minister to intervene by taking over water and sanitation services if an authority has demonstrated a consistent decline, even after numerous intervention actions have been taken to support them.
Making a presentation on the state of water and sanitation in the area, Deputy Director-General for Water and Sanitation Services at the department, Dr Risimati Mathye, painted a picture of a steady decline of water and sanitation services in the district, saying it calls for an action by the Minister.
Mathye assured the municipality that this is done in the best interest of government and the communities affected by the decline in services, and that the Minister will not be taking over the running of the municipality.
Mathye highlighted several challenges including challenges with water and sanitation infrastructure that requires refurbishment to ensure reliability to meet demand; a high percentage of non-revenue water due to pipe bursts, leaks that are not attended to on time leading to high water losses; as well as lack of maintenance of waste water infrastructure which leads to the discharge of raw sewage into sensitive natural environments.
Mathye recommended that the Section 63 intervention be implemented in the municipality for three to five years to undertake the management, operations and maintenance of water and sanitation infrastructure and for uMngeni-uThukela Water to be an implementing agent of the intervention in terms of Section 41 of the Water Services Act.
The uThukela District Municipality commended the intervention, saying they need all the assistance they can get to ensure enhanced capacity.
Sithole-Moloi commended Mchunu for the swift response to stabilising water and sanitation services in the uThukela District. – SAnews.gov.za
GabiK
Wed, 05/01/2024 - 09:46
96 views
Deputy President Mashatile applauds efforts to keep the lights on
Deputy President Mashatile applauds efforts to keep the lights on
Deputy President Paul Mashatile has applauded the Minister in the Presidency responsible for Electricity Dr Kgosientsho Ramokgopa’s leadership in striving to find solutions to power cuts and increasing energy availability.
“It is commendable that we have had four consecutive weeks without power interruptions. We equally commend the Eskom team as led by Mr Dan Morakane in this regard,” he said on Tuesday.
Deputy President Mashatile made the comments this morning at a dialogue on the role of leadership in fostering economic growth. The session was hosted by the African United Business Confederation (AUBC) in Sandton.
He emphasised that government will ensure that all power stations have the right leaders who will drive the appropriate discipline within those operations.
“While some think that this is an electioneering strategy, I want to reassure you that this reality is just evidence of improvements in the entity’s operations.”
Last week, Ramokgopa and Eskom leadership attributed the lack of load shedding for over 34 days to sustained available generation capacity and sufficient emergency reserves.
Energy Action Plan
Meanwhile, the Deputy President told delegates that government’s strategy to improve Eskom’s performance has been the implementation of a concerted and deliberate Energy Action Plan (EAP).
The State, he stressed, remains committed to implementing the EAP’s key interventions.
These include fixing Eskom, improving the availability of existing supplies, enabling and accelerating private investment in generation capacity, and unleashing businesses and households to invest in rooftop solar energy.
“Furthermore, we are ensuring that all power stations have the right leaders who will drive the appropriate discipline within those operations.”
The Deputy President welcomed the changes made over the past 18 months in Eskom’s leadership, saying he believed that with the right skills, talent and experience, South Africa will soon achieve an energy-secure future.
“We are similarly committed to implementing all necessary steps to maintain the security of our infrastructure, as it is crucial to attaining long-term economic and social goals.”
Infrastructure Investment Plan
He reminded delegates that in 2020, Cabinet adopted the Infrastructure Investment Plan, which was a demonstration of government’s commitment to infrastructure development.
The plan includes projects from government, state-owned enterprises (SOEs) and the private sector in six sectors. These comprise energy, water and sanitation, transport, digital infrastructure, human settlements, as well as agriculture and agro-processing.
“We are certain that these ambitious projects will boost the economy and reduce unemployment.” – SAnews.gov.za
Gabisile
Tue, 04/30/2024 - 12:52
331 views
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Government activities for the week 29 April – 03 May 2024
Government activities for the week 29 April – 03 May 2024
On Monday, 29 April, the Minister of Higher Education, Science and Innovation, Dr Blade Nzimande, will hand over a media laboratory to Naledi Primary School in Ottosdal, Ngaka Molema Modiri District, in the North West province.
On Monday, 29 April, Eastern Cape Premier, Lubabalo Oscar Mabuyane, together with the Rural Development and Agrarian Reform MEC, Nonkqubela Pieters, will announce a new cannabis investor at the Coega SEZ.
From Monday, 29 April, to Tuesday, 30 April, the Minister of Water and Sanitation, Senzo Mchunu, will visit the uThukela District to inspect water infrastructure in the area and engage community members on water and sanitation issues.
On Tuesday, 30 April, the NYDA, APRM and PAP will host the Democracy and Development Intergenerational Dialogue at the Pan-African Parliament in Midrand.
Also on Tuesday, 30 April, the Minister of Higher Education, Science and Innovation, Professor Blade Nzimande, officially launches the DHET Community Colleges Infrastructure Programme at the site of the W&RSETA's second Skills Development Centre in Reitz in the Free State.
Janine
Mon, 04/29/2024 - 10:35
212 views