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Trade News

African Rainbow Capital acquires QED for undisclosed amount

By: Nadine James 17th April 2019 Empowerment investment holding company African Rainbow Capital (ARC) on Wednesday announced plans to acquire a majority shareholding in independent actuarial advisory business QED for an undisclosed amount. QED operates across 17 countries in Africa, offering actuarial and risk management... →

Sapref’s new R50m reactor to enable better low-sulphur diesel production

By: Nadine James 17th April 2019 The South African Petroleum Refinery’s (Sapref’s) new R50-million reactor arrived at the Durban port earlier this week. The 242 t, 31-m-long reactor will enable Sapref, which is a joint venture between Shell Refining South Africa and BP Southern Africa, to produce “better, low-sulphur diesel”,... →

UMKHOMA REACTOR

Class action summons issued against Tiger Brands

By: Nadine James 17th April 2019 Packaged goods company Tiger Brands on Wednesday confirmed receipt of a summons in respect of a class action lawsuit seeking damages for the 2018 listeriosis outbreak. The Johannesburg High Court granted a certification order in December 2018, authorising the issue of a summons in a class action... →

Steel demand growth rates to moderate in line with slowing global economic growth

By: Nadine James 16th April 2019 Global steel demand is expected to increase by 1.3% year-on-year to 1.74-billion tonnes this year, the World Steel Association’s (worldsteel’s) ‘April 2019 Short Range Outlook’ shows. Demand is projected to grow by a further 1% in 2020 to 1.75-billion tonnes, the association added. →

Long-running trade dispute between aerospace giants ends with victory for Airbus

By: Rebecca Campbell 12th April 2019 Late last month the World Trade Organisation’s (WTO’s) Appellate Body found that the US had failed to end some of the subsidies awarded by Federal, State and local authorities to aerospace giant Boeing, and to stop the damage these subsidies were causing to Boeing’s Europe-based arch rival... →

South Africa needs to encourage more local patents – Davies

By: African News Agency 10th April 2019 South Africa's government is striving to strike a balance between granting monopoly rights to support innovation, the dissemination of knowledge and addressing the country's socio economic challenges, trade and industry minister Rob Davies says. Davies told a forum on intellectual property and... →

Trade & Industry Minister Rob Davies

Early crypto-asset regulations indicate firmer rules on the way

By: Schalk Burger 5th April 2019 The initial regulations proposed by a crypto-asset regulations consultation paper, released by the South African Reserve Bank in January, indicate that a firmer regulatory regime will be put in place, says legal firm Cliffe Dekker Hofmeyr finance and banking director Bridget King and Cliffe... →

Airbus signs agreement to sell hundreds of airliners to China

By: Rebecca Campbell 5th April 2019 Europe-based global aerospace giant Airbus and the China Aviation Supplies Holding Company (CAS) signed, late last month, a General Terms Agreement (GTA) for the purchase, by Chinese airlines, of 300 Airbus airliners. These will be composed of 290 A320-family single aisle air craft and ten... →

Brics Business Council making good progress, faces great opportunities

By: Rebecca Campbell 3rd April 2019 The Brazil, Russia, India, China, South Africa (Brics) alignment offered its members "massive" trade opportunities, which must be exploited. So affirmed Brics Business Council South Africa Chapter chairperson Busi Mabuza on Wednesday. She was addressing the Brics Business Council mid-term meeting... →

Brics group can help develop Africa and reshape world – Makhura

By: Rebecca Campbell 3rd April 2019 Gauteng Premier David Makhura on Wednesday hailed the Brazil, Russia, India, China, South Africa (Brics) alignment as a force that could promote global inclusive economic growth and help develop Africa. He was delivering the keynote address at the Brics Business Council mid-term meeting in... →

South African delegation showcases country’s industrial capabilities at Brazil exhibition

By: Tasneem Bulbulia 3rd April 2019 A South African business delegation is participating in the twelfth Latin American Defence and Security Exhibition, which is being held in Rio de Janeiro, Brazil, this week. The event is open to companies that provide technology, equipment and services for armed forces, special forces, police,... →

Tariff war will hammer global trade growth this year, WTO says

By: Bloomberg 2nd April 2019 The World Trade Organization (WTO) slashed its global trade growth projection for 2019 to the lowest level in three years, citing the impact of rising commercial tensions and tariffs. World merchandise trade growth will slow to 2.6% this year and 3% next year, after notching 3% in 2018, the WTO... →

Japan urges Africa to ‘own’ its own development

By: Rebecca Campbell 29th March 2019 Japan was convinced that Africa should have ownership of its own development and that the private sector was essential for the continent’s economic progress. These views would be embodied in the latest (seventh) iteration of the Tokyo International Conference on African Development (Ticad 7), to... →

Egypt seeking to increase trade and investment ties with South Africa

By: Rebecca Campbell 29th March 2019 Egyptian Ambassador to South Africa Sherif Eissa has called for more bilateral trade and investment between his country, as well as closer political cooperation. He was addressing the recent South African Chamber of Commerce and Industry (SACCI) and Federation of Egyptian Industries (FEI) Trade... →

Rhodes’ regional growth continues despite consumer slowdown

By: Nadine James 27th March 2019 Despite the continued challenging trading environment, Rhodes Food Group managed to increase turnover in its regional segment (Africa) by 8.2% for the five months ended February 28, the company announced in a trading statement on Wednesday. Long life revenue grew by 12.7%, with volume growth of... →

Port Elizabeth port’s tanker berth back in operation

By: Nadine James 27th March 2019 Repairs to the tanker berth at Transnet National Ports Authority’s (TNPA’s) Port Elizabeth port have been successfully completed ahead of schedule. The berth has been successfully recertified by a structural engineer and has been cleared to resume operations. It had been closed since February 18... →

Dube TradePort set for R18bn expansion

By: Nadine James 22nd March 2019 The R18-billion expansion of one of two of KwaZulu-Natal’s special economic zones (SEZs), the Dube TradePort, is set to create hundreds of jobs as the province gears for yet another round of development for its Durban Aerotropolis precinct, KwaZulu-Natal Economic Development, Tourism and... →

Iata stresses priorities for growth of global air cargo sector

By: Rebecca Campbell 22nd March 2019 The International Air Transport Association (IATA) has identified three priorities that must be implemented to meet the growing global demand for air freight and to maximise the socio-economic benefits of aviation, and has called on governments and the air cargo industry to focus on these... →

Japan focusing attention on Indian Ocean rim countries for mutual benefit

By: Rebecca Campbell 22nd March 2019 Japanese international strategy was today focusing on the rim of the Indian Ocean, highlighted Keio University Faculty of Law Professor Yuichi Hosoya in a recent address to the South African Institute of International Affairs at its headquarters on the University of the Witwatersrand campus in... →

Public-Private Growth Initiative identifies 18 ‘priority projects’ to unlock growth

By: Terence Creamer 18th March 2019 The Public-Private Growth Initiative (PPGI), an evolving sector-based collaboration between government and business, has earmarked 18 projects across various sectors of the South African economy for priority implementation in the coming months. Minister in the Presidency Dr Nkosazana Dlamini-Zuma... →

Minister in The Presidency Dr Nkosazana Dlamini-Zuma speaks, while Dr Johan van Zyl, Mpumi Mpofu and Roelf Meyer listen

China a potential market for South African avos as other markets mull import bans

By: Simone Liedtke 15th March 2019 The South African avocado market faces the threat of a possible ban in future, particularly in the UK, which is reportedly getting rid of avocados on ethical grounds, says economist Gilberto Biacuana. The UK is the second most important market for South Africa’s avocado exports, which means that... →

Egyptian business giving great importance to South Africa

By: Rebecca Campbell 15th March 2019 The Federation of Egyptian Industries (FEI) was in full support of the policy of Egyptian President Abdel Fattah el-Sisi to strengthen the country’s relations with the rest of Africa. “As a business community, we will endorse our Government’s role in Africa,” affirmed FEI African Cooperation... →

Photo by Egyptian Petrochemical Company
An Egyptian petrochemical plant

Commonwealth digital connectivity initiative to be led by SA and the UK

By: Rebecca Campbell 15th March 2019 The UK and South Africa have agreed to co-lead the Commonwealth Digital Connectivity Agenda. This is aimed at supporting inclusive growth and sustainable development in Commonwealth countries by promoting the exchange of best practices, experiences and views between the international body’s... →

Lithium and cobalt risks growing, World Energy Council survey finds

By: Schalk Burger 15th March 2019 The tenth edition of the World Energy Council’s (WEC’s) World Energy Issues Monitor 2019 highlights that lithium and cobalt will play an increasing role in commodity market risks, which are traditionally dominated by oil and gas price fluctuations. According to the survey, this is one of the four... →

Egypt seeks increased bilateral trade and investment with South Africa

By: Rebecca Campbell 14th March 2019 Egyptian Ambassador to South Africa Sherif Eissa has called for more bilateral trade and investment between his country and South Africa, as well as closer political cooperation. He was addressing the South African Chamber of Commerce and Industry and Federation of Egyptian Industries (FEI) Trade... →

Photo by Unesco
A view of Old Cairo, with the modern city in the background

Clock ticking on new SA trade deal with post-Brexit Britain

By: African News Agency 14th March 2019 South Africa and its southern Africa customs union partners will be trying to conclude an agreement with Britain on Friday on the trade ties and tariffs in the post-Brexit era but sticking points remain, Trade and Industry Minister Rob Davies said on Wednesday. Ministerial level talks between... →

Davies announces South African Premier Business Award winners

By: Simone Liedtke 14th March 2019 The winners of the sixth annual South African Premier Business Awards, which is aimed at promoting and encouraging businesses across all sectors to embrace transformation, were announced by Trade and Industry Minister Dr Rob Davies, in Sandton, on Wednesday night. The awards were hosted by the... →

Japan stresses Africa’s need to own its own development and promote private sector

By: Rebecca Campbell 13th March 2019 Japan is convinced that Africa should have ownership of its own development and that the private sector is essential for the continent’s economic progress. These views would be embodied in the latest (seventh) iteration of the Tokyo International Conference on African Development (Ticad 7), to be... →

Infrastructure and regulatory reform required to unlock Africa’s air-cargo potential

By: Rebecca Campbell 8th March 2019 Air transport would play a crucial role in the growth of intra-African trade, because of the poor terrestrial communications across the continent and the number of landlocked countries it contains. So affirmed South African Airways (SAA) CEO Vuyani Jarana in his keynote address at the opening of... →

UAVs, ecommerce set to transform air cargo

By: Rebecca Campbell 8th March 2019 Unmanned aerial vehicles, popularly called drones, and e-commerce (in particular the global giant e-commerce enterprises such as Amazon and Alibaba) look set to transform the air freight industry worldwide, including in Africa. This was the general opinion at a panel discussion at the recent Air... →

African seed companies outperform international peers

By: Nadine James 7th March 2019 Two African seed companies top the 2019 Access to Seeds Index for Eastern and Southern Africa, owing to their playing a key role in raising smallholder farmer productivity, the Amsterdam-based Access to Seeds Foundation reported on Thursday. The foundation’s newly released research stated that... →

Japan focusing attention on Indian Ocean rim countries for mutual benefit

By: Rebecca Campbell 7th March 2019 Japanese international strategy is today focusing on the rim of the Indian Ocean, highlighted Keio University Faculty of Law Professor Yuichi Hosoya in an address to the South African Institute of International Affairs in Johannesburg on Thursday. This region, he noted, "is becoming the next... →

Britain and South Africa to jointly lead Commonwealth digital connectively initiative

By: Rebecca Campbell 5th March 2019 The UK and South Africa jointly announced on Tuesday that they had agreed to co-lead the Commonwealth Digital Connectivity Agenda. This is aimed at supporting inclusive growth and sustainable development in Commonwealth countries by promoting the exchange of best practices, experiences and views... →

Photo by Crown Copyright
Dr Liam Fox (left) meets Dr Rob Davies (right), in London

Cell C COO steps in as interim CEO

By: Nadine James 28th February 2019 Telecommunications company Cell C on Thursday announced the appointment of COO Douglas Craigie Stevenson as interim CEO, effective March 1. He will hold the position until a permanent appointment is made in “due course.” →

Britain, South Africa finalising interim post-Brexit trade deal

By: Reuters 26th February 2019 South Africa is close to signing an interim trade agreement with Britain that would replicate arrangements with Europe and ensure trade will not be disrupted in the event of a hard Brexit, South African Trade Minister Dr Rob Davies said on Monday. With just a month to go before Britain is due to... →

Client choice and protection at heart of bank’s approach to fintech regulation

By: Schalk Burger 22nd February 2019 Financial technologies (fintech) are growing worldwide and reshaping the definition of money, financial services and economies. However, while the disruptions roil existing business models, companies and industries, increasing the choice of fintech services users while protecting their rights is... →

M&R expects significant improvement in interim HEPS

By: Nadine James 19th February 2019 JSE-listed engineering group Murray & Roberts (M&R) expects a significant improvement in total earnings per share (EPS) and headline earnings per share (HEPS) for the six months ended December 31. Basic EPS for the period are expected to increase by between 57% and 75% year-on-year to between 44c... →

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