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Trade News

US to counter China, Russia influence in Africa – Bolton

By: Reuters     14th December 2018 The United States plans to counter the rapidly expanding Chinese and Russian economic and political influence in Africa, US national security adviser John Bolton said on Thursday, calling business practices of the two nations "corrupt" and "predatory." Washington's No 1. priority will be... 

Enforcing local procurement rules would help offset weak demand  

By: Terence Creamer     14th December 2018 Steel and Engineering Industries Federation of Southern Africa (Seifsa) wants government to take decisive action in 2019 to ensure that departments and State-owned companies (SoCs) honour their obligations to purchase designated steel products from domestic manufacturers. The organisation is also... 

Enforcing local procurement rules would help offset weak demand
Seifsa CEO Kaizer Nyatsumba reflects back on 2018 and offer insight into prospects for the metals and engineering sector n 2019. Camera Work & Editing: Nicholas Boyd

South Africa becomes fourth country to deposit instrument of TFTA ratification

By: Marleny Arnoldi     13th December 2018 The South African government has deposited its instrument of ratification of the agreement that establishes the Tripartite Free Trade Area (TFTA) on the margins of the African Union Ministers of Trade meeting that took place in Egypt from December 12 to 13. The deposit of the instrument... 

Sacci survey anticipates trade conditions remaining subdued for next six months

By: Marleny Arnoldi     12th December 2018 The South African Chamber of Commerce and Industry (Sacci) Trade Conditions Survey for November shows that activity remains subdued and is likely to remain subdued for the next six months. The survey stated that trade conditions remained negative, with the seasonally adjusted trade activity... 

Davies to launch revised business process services incentive scheme

By: Marleny Arnoldi     12th December 2018 Trade and Industry Minister Dr Rob Davies will, on Friday, launch the revised Global Business Process Services Incentive Scheme, while on a trip to London, in the UK. The launch of the revised incentive further supports and enhances South Africa’s value proposition, catalysing new investments... 

Africa key market for South African exports – Davies

By: African News Agency      12th December 2018 South African businesses should consider the continent an extremely important market, especially for trade in value added products, Trade and Industry Minister Dr Rob Davies has said. Launching the South African stand at the inaugural Intra-Africa Trade Fair (IATF) in Cairo, Egypt, Davies said... 

South Africa needs to prepare in case of ‘hard’ Brexit – NWU economist  

By: Marleny Arnoldi     11th December 2018 North West University economist Professor Raymond Parsons says a “hard” Brexit is likely in March 2019 and that the UK may well crash out of the European Union (EU) without a withdrawal agreement. He laments that, with the decision by the UK government to delay the Parliamentary vote on the... 

South Africa needs to prepare in case of ‘hard’ Brexit – NWU economist
Photo by Creamer Media
NWU economist Professor Raymond Parsons

Egypt aims to kickstart African trade as it takes AU chair

By: Reuters     10th December 2018 Egypt is promoting itself as a linchpin for intra-African trade and a model of economic reform as it prepares to chair the African Union in 2019. The country hosted a high-level business forum on Saturday and Sunday in the Red Sea resort of Sharm el-Sheikh that will be followed by an... 

China’s BRI translating its influence into trade, development and cultural engagements with global South

By: Schalk Burger     7th December 2018 The Belt and Road Initiative (BRI), which is an infrastructure development and integration initiative championed and mainly funded by China, has emerged as a conduit for translating China's growing influence into trade, development and cultural engagements and partnership with the global South.... 

Springs-based fuel cell SEZ approved  

By: Nadine James     5th December 2018 The special economic zone (SEZ) for fuel cell development, proposed for development by the Gauteng Industrial Development Zone initiative and Impala Platinum (Implats), has been approved, Implats fuel cell coordinator Fahmida Smith told attendees at the International Partnership for Hydrogen and... 

South Africa’s Parliament approves agreement to establish AfCFTA

By: Marleny Arnoldi     5th December 2018 Trade and Industry Minister Dr Rob Davies has welcomed Parliament’s ratification of the agreement that establishes the African Continental Free Trade Area (AfCFTA). The AfCFTA was launched during an extraordinary summit of African Union (AU) Heads of State and government, in Kigali, Rwanda, on... 

South Africa’s Parliament approves agreement to establish AfCFTA
Photo by Creamer Media
Trade and Industry Minister Dr Rob Davies

DST hosts hydrogen fuel cell technology conference

By: Nadine James     3rd December 2018 Global stakeholders in the multibillion-dollar fuel cell industry will meet in Pretoria this week for the thirtieth Steering Committee Meeting of the International Partnership for Hydrogen and Fuel Cells in the Economy (IPHE). The Department of Science and Technology (DST) will host the meeting... 

Africa trade facilitation challenges need to be addressed, says Unctad

By: African News Agency      29th November 2018 The United Nations Conference on Trade and Development (Unctad) warns that market access gains made by Africa in the past two decades can be eroded unless the challenges of trade facilitation are addressed. Better transport, logistics and foreign investment are essential to smooth the way for the... 

World’s largest feedlot leads South African beef export push

By: Bloomberg     28th November 2018 The world’s largest cattle feedlot is expanding South African beef exports beyond the Middle East to take advantage of surging demand in China and other Asian markets. Karan Beef's feedlot south of Johannesburg is emblematic of a push by South African agriculture to boost exports of more niche... 

Nampak produces ‘pleasing’ FY18 results despite challenging environment

By: Nadine James     27th November 2018 Packaging company Nampak has achieved positive results for its continuing operations for the financial year ended September 30, with profit up 29% year-on-year to R1.2-billion and headline earnings a share up 15% year-on-year to 168.7c a share. Nampak CEO André de Ruyter told Engineering News... 

EU proposes new WTO reform to safeguard dispute settlement body

By: Bloomberg     26th November 2018 The European Union (EU) unveiled a new proposal that seeks to stave off paralysis of the World Trade Organisation’s (WTO's) dispute settlement system by unblocking the appointment of its appellate body members, according to a statement Monday. The proposal has the backing of Australia, Canada,... 

BRI a conduit for Chinese engagement, trade, development with Africa and the world 

By: Schalk Burger     23rd November 2018 The Belt and Road Initiative (BRI), which is an infrastructure development and integration initiative championed and mainly funded by China, has emerged as a conduit for translating China's growing influence into trade, development and cultural engagements and partnership with the global South.... 

Solid relations between India and South Africa good for bilateral trade and investment

By: Rebecca Campbell     23rd November 2018 South Africa and Indian already have a solid framework for strong relations, not least in the areas of trade and investment, Indian High Commissioner to South Africa (Ms) Ruchira Kamboj tells "Engineering News". "India and South Africa are old friends  and historical partners," she highlights.... 

JSE listing to unlock shareholder value, says Motus

By: Marleny Arnoldi     22nd November 2018 Motus Holdings, which was recently unbundled from Imperial Holdings, says its independent listing on the JSE enables improved strategic focus, operational efficiency and has unlocked shareholder value. Motus listed in the specialised retail sector of the JSE on Thursday, with a starting trade... 

JSE listing to unlock shareholder value, says Motus
Photo by Dylan Slater
Motus acting CEO Ockert Janse van Rensburg celebrates the JSE listing of Motus

Motus’ empowerment scheme lists on EESE

By: Marleny Arnoldi     22nd November 2018 Broad-based black economic empowerment (BBBEE) scheme Ukhamba 2 on Thursday listed on the Equity Express Securities Exchange (EESE). Ukhamba 2 is JSE-listed Motus’ employment empowerment scheme. Motus was unbundled from Imperial Holdings earlier this year and listed on the JSE on Thursday.  

China and US accuse each other of hypocrisy as WTO litigation begins

By: Reuters     22nd November 2018 The United States and China clashed on Wednesday at a World Trade Organization meeting with a US envoy accusing Beijing of using the WTO to pursue "non-market" policies and a Chinese official saying it was Washington that was flouting the rulebook. US President Donald Trump has outraged US... 

Astral commits to R1.1bn in expansion projects 

By: Simone Liedtke     19th November 2018 On the back of President Cyril Ramaphosa’s recent investment drive and stimulus plan, integrated poultry producer Astral Foods has committed R1.1-billion to expansion projects over the next three years. This is the JSE-listed company’s first major expansion in its poultry division in a decade and... 

Astral commits to R1.1bn in expansion projects

New pan-African trade bloc holds much promise for SA business

By: Rebecca Campbell     16th November 2018 From March 17 to March 21 this year, African Heads of State and Government held an Extraordinary Summit in Kigali, Rwanda. This was the 10th Extraordinary Summit of the African Union (AU) Assembly and the last day saw the signature of the agreement to establish the African Continental Free Trade... 

New pan-African trade bloc holds much promise for SA business

Strong relationship bodes well for boosting India/South Africa trade and investment

By: Rebecca Campbell     13th November 2018 South Africa and India already have a solid framework for strong relations, not least in the areas of trade and investment, Indian High Commissioner to South Africa (Ms) Ruchira Kamboj tells Engineering News Online. "India and South Africa are old friends and historical partners," she highlights.... 

Deregulated India attracting tens of billions of dollars in foreign investment

By: Rebecca Campbell     12th November 2018 India attracted $44.9-billion in foreign direct investment during the 2017/2018 financial year, Indian High Commissioner to South Africa Ruchira Kamboj highlighted on Monday. She was addressing the Invest in India Business Forum in Sandton, north of Johannesburg. "Why India? Because it's the new... 

Standard Bank launches Internet banking in Chinese

By: Simone Liedtke     9th November 2018 Financial services provider Standard Bank successfully launched its first Chinese Internet banking site in Angola this week. With more than 30 000 active Chinese-owned firms in Africa, Standard Bank believes it can grow Africa-China trade by building and managing an innovative and effective... 

Massmart top renewable energy user in South African retail

By: Marleny Arnoldi     8th November 2018 JSE-listed consumer goods distributor Massmart Holdings has become the biggest producer of renewable energy in the South African retail sector, with a total 4.4-million kilowatt-hours generated from solar photovoltaic panels on the rooftops of six stores nationally. Massmart corporate affairs... 

Massmart top renewable energy user in South African retail

Businesses need increased awareness when managing risks – Dlamini

By: Simone Liedtke     30th October 2018 Given the fact that the world is marked by volatility, uncertainty, complexity and increasing ambiguity, retail property group Massmart chairperson Kuseni Dlamini on Tuesday suggested that businesses need to be “that much more aware and vigilant in terms of managing risks in the most appropriate... 

Businesses need increased awareness when managing risks – Dlamini
Photo by Dylan Slater
Massmart chairperson Kuseni Dlamini

American trade delegation in South Africa to expand business opportunities in Southern Africa

By: African News Agency      30th October 2018 An American trade delegation, comprising businessmen from more than 30 American companies and state government leaders, is in South Africa seeking to expand agricultural export opportunities in the region. The trade delegation, which arrived in South Africa on Monday and will conclude its visit... 

South Africa welcomes product exclusion for some steel, aluminium products from Section 232 duties

By: Simone Liedtke     24th October 2018 Following an announcement that the US Department of Commerce has granted product exemptions for certain aluminium and steel products, Trade and Industry Minister Dr Rob Davies on Wednesday welcomed the positive developments as a step towards normalising trade relations between South Africa and... 

Mashaba calls for more partnerships during South Africa–Italy Summit

By: Tasneem Bulbulia     24th October 2018 Johannesburg mayor Herman Mashaba has called for more partnerships and better collaboration between South Africa and Italy, as part of efforts to grow the economy. Speaking at the South Africa–Italy Summit/Indaba, he pointed out that the two countries had good trade relations, but encouraged... 

Grindrod buys marine support services business

By: Nadine James     23rd October 2018 JSE-listed Grindrod said on Tuesday that the recently announced acquisition of the Novagroup from Pescanova would enhance its service and product offering, as well as expand its footprint in southern Africa. Nova was established in the 1960s to deliver support services to the maritime industry,... 

SA and Italy seek to grow trade and investment partnerships 

By: Tasneem Bulbulia     23rd October 2018 The fifth edition of the South Africa-Italy Summit/Indaba, held in Johannesburg on Tuesday, has emphasised the importance of bilateral trade relations and investment partnerships between the two countries. This year, trade between South Africa and Italy grew by 11% in the first seven months.... 

SA and Italy seek to grow trade and investment partnerships
Italian ambassador to South Africa Pietro Giovanni Donnici speaks about bilateral trade relationships between South Africa and Italy, and Gauteng province director general Phindile Baleni outlines the province’s contribution. Video and editing: Nicholas Boyd.

Clash over Trump tariffs heats up with barrage of WTO litigation

By: Reuters     19th October 2018 Disputes over US tariffs and retaliatory moves by other states have sparked 12 requests for adjudication at the World Trade Organization, signalling an escalation in global trade tensions. The agenda for an Oct. 29 meeting of the WTO's dispute settlement body on Friday confirmed the legal moves,... 

African countries can leapfrog technologies, if they understand the requirements

By: Rebecca Campbell     17th October 2018 The world, in trade and industrial terms, is being disrupted by both technological and political developments, providing opportunities but also posing risks to African countries. So highlighted University of Cape Town Mandela School of Public Governance Professor Carlos Lopes. On the... 

Messe München South Africa acquires Air Cargo India, Air Cargo Africa exhibitions

By: Simone Liedtke     16th October 2018 International exhibition organiser Messe München has bought the Air Cargo India and Air Cargo Africa exhibitions from Indian publishing house Stat Trade Times. Air Cargo Africa is the largest air cargo trade fair in Africa, attracting over 80 exhibitors and 2 000 visitors from across the continent.  

TNPA tests helicopter service at Cape Town port 

By: Simone Liedtke     15th October 2018 Transnet National Ports Authority (TNPA) is exploring options to introduce a helicopter service at its Port of Cape Town to assist with operations during major swells and to increase the availability of service during stormy conditions. With Cape Town having been plagued recently by... 

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