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Trade News

AfCFTA to boost private sector growth in Africa

By: Donna Slater 22nd June 2021 The African Continental Free Trade Area (AfCFTA) will boost private sector growth and reach in the continent, panellists participating in an Infrastructure Africa session on restoring economic growth, connecting African countries and optimising the AfCFTA, on June 22, concurred. AfCFTA policy... →

Lemon export protocol to boost investment, create jobs

By: Donna Slater 22nd June 2021 The recent signing of a revised citrus protocol between South Africa and China by Agriculture, Land Affairs and Rural Development Minister Thoko Didiza will secure R325-million in new export revenue and create 800 jobs in the industry, the Citrus Growers’ Association of South Africa (CGASA)... →

Suppliers to lose contracts for failing to cut carbon emissions – study

By: Donna Slater 15th June 2021 A new study by financial services provider Standard Chartered reveals that multinational companies will cut suppliers for failing to curb carbon emissions, with 78% of multinational corporations (MNCs) planning to cut ties with suppliers that endanger their carbon transition plans by 2025. For... →

Partnership eyed for vaccine rollout acceleration in Africa

By: Donna Slater 15th June 2021 World Bank president David Malpass and his senior management team, comprising Dr Axel van Trotsenburg and Dr Makhtar Diop, have met with the African Union’s Covid-19 Vaccine Acquisition Task Team (Avatt) to discuss modalities for a partnership that will accelerate vaccine deployment to Africa.... →

Survey shows African business leaders have positive outlook for 2021

By: Donna Slater 9th June 2021 Professional services firm PwC’s twenty-fourth yearly ‘Global CEO Survey’ finds that CEOs have an improved outlook and record high optimism about the global economy, with 68% of CEOs in Africa believing growth will improve this year. This compares with 76% of CEOs outside of Africa being... →

South African citrus en route to Philippines after 12 years of negotiations

By: Donna Slater 8th June 2021 A delegation from the Citrus Growers’ Association of South Africa (CGA) visited the Port of Durban this week to send off the first South African shipment of citrus to the Philippines – a historic occasion that follows 12 years of negotiations between the two countries. The work plan to export... →

South African industrial hub has found a faster route to the sea

By: Bloomberg 8th June 2021 A new inland transit facility between South Africa and Mozambique could slash transport times between the Maputo port and the region’s industrial and business hub. DP World’s new dry port depot in Komatipoort, a town on South Africa’s eastern border with Mozambique, operates as a bonded container... →

AfDB grants Mozambican enterprise developer $1m grant

By: Donna Slater 7th June 2021 The African Development Bank (AfDB) Group has approved a $1-million grant to Mozambique-based small and medium-sized enterprise (SME) promotional agency the Instituto para a Promoção das Pequenas e Médias Empresas (Ipeme), to boost local content and development of SME initiatives in Mozambique.... →

Pandemic highlights investment opportunities

By: Halima Frost 4th June 2021 Covid-19 has highlighted the importance of strengthening supply chains in Africa to reduce reliance on other continents, where possible, private equity investment firm Agile Capital principal dealmaker Liz Kolobe tells Engineering News. Therefore, the company has announced that it is open to... →

LIZ KOLOBE Agile Capital has announced that it is open to exploring new opportunities and is looking to deploy the capital it has available in its fourth private equity fund

Sub-Saharan Africa rebound significantly lower than globally

By: Halima Frost 4th June 2021 A smaller contraction in 2020 and a sharper growth rebound in 2021 have led to predictions of a global rebound of about 5.6%; however, sub-Saharan Africa will lag behind, with the slowest recovery rate of about 3%, said data research and analytics company Fitch Solutions Country Risk & Industry... →

PLUGGED IN The sub-Saharan Africa recovery is on on trend with the rest of the world

Port upgrade strengthens Horn of Africa trade

By: Halima Frost 4th June 2021 The Berbera port, operated and managed by multinational logistics company Dubai Ports (DP) World, is undergoing a multifaceted upgrade valued at $442-million. The upgrade will expand the port, as well as develop a logistical platform and a free zone to strengthen the port’s position as a key... →

SHIP SHAPE The upgrades to the Berbera port in Somaliland will allow for more containers and larger ships to dock

Six African countries join WLP to build back trade volumes

By: Schalk Burger 2nd June 2021 Botswana, Burkina Faso, Ethiopia, Guinea, Mozambique and Zimbabwe have registered as gateway countries with freight loyalty programme World Logistics Passport (WLP). This is expected to reduce supply chain costs and improve speed to market for exports and imports from these countries, WLP CEO... →

ECIC expands offering for South African exports to Africa

By: Tasneem Bulbulia 1st June 2021 South African manufacturers exporting to countries elsewhere in Africa will have access to additional insurance products that underwrite risk outside the control of the exporting entity. This follows a new mandate signed by Trade, Industry and Competition Minister Ebrahim Patel that is slated to... →

Another South African trade surplus surprise – thanks to continuing commodity boom

By: News24Wire 1st June 2021 The trade balance for April recorded a surplus of R51-billion, higher than the market consensus expectation of R37.5-billion. The South African Revenue Service on Monday released the trade data, which was only slightly lower than the R52.5-billion recorded in March. →

Ramaphosa to host French President Emmanuel Macron

By: News24Wire 28th May 2021 President Cyril Ramaphosa will on Friday host President Emmanuel Macron of France. Macron arrives in South Africa for his first visit as the head of state of the European country. →

French President Emmanuel Macron & South African President Cyril Ramaphosa

AfCFTA key to post-Covid-19 recovery – Majola

By: Donna Slater 26th May 2021 In delivering the main address at the virtual Africa Day commemoration of the National Council of Provinces (NCOP) on May 25, Trade, Industry and Competition deputy Minister Fikile Majola said it was imperative for South Africa to look beyond its borders to accomplish the task of inclusive... →

Transnet aims to implement three private sector participation projects this year

By: Terence Creamer 25th May 2021 Freight logistics group Transnet expects to proceed with three private sector participation (PSP) projects before the end of the year, with Public Enterprises Minister Pravin Gordhan confirming that the State-owned group’s new strategy is to drive volume growth “by developing key strategic... →

Consumer commission issues 88 notices against noncompliant clothing imports

By: Schalk Burger 24th May 2021 The National Consumer Commission (NCC), in collaboration with the South African Revenue Service (Sars) Customs Special Operations, issued 88 compliance notices between July 2020 and March 31, this year, for imported goods that did not meet the labelling requirements under the Consumer Protection... →

Critical structural reforms taking too long – BLSA

By: Donna Slater 24th May 2021 The structural reform required to transform South Africa’s economy has “frustratingly” progressed very little, even with the establishment of Operation Vulindlela, Business Leadership South Africa (BLSA) CEO Busi Mavuso asserts. She says organised business has consistently argued that South... →

Photo by Creamer Media's Donna Slater
BLSA CEO Busi Mavuso

Barloworld's Southern African, Eurasian order books strong

By: Donna Slater 24th May 2021 Industrial processing, distribution and services company Barloworld reports that its industrial equipment and services division performed well in the six months ended March 31, despite challenges. Barloworld’s Equipment Southern Africa division delivered a solid performance despite lower mining... →

Barloworld group CEO Dominic Sewela

Government releases competition policy strategy for jobs, industrial development

By: Tasneem Bulbulia 20th May 2021 More than R25-billion has been committed by major firms for investment in factories, refineries and construction projects in South Africa over the last five years, following agreement with government in terms of the provisions of the Competition Act. Further, more than R3-billion has been... →

Unctad update shows 10% y/y, 4% q/q recovery in trade in first quarter

By: Schalk Burger 19th May 2021 The United Nations Conference on Trade and Development's (Unctad's) latest Global Trade Update shows that global trade’s recovery from the Covid-19 crisis reached a record high in the first quarter of this year, increasing by 10% year-on-year and 4% quarter-on-quarter, largely fuelled by trade in... →

Elidz hopeful new SIU probe will end corruption, maladministration allegations

By: Donna Slater 19th May 2021 The East London Industrial Development Zone (Elidz) says it “welcomes” a probe into allegations of corruption and maladministration by the Special Investigation Unit (SIU) if the authorities “deem it worthwhile to put resources into these allegations once more”. The new SIU investigation comes a... →

The world economy is suddenly running low on everything

By: Bloomberg 17th May 2021 A year ago, as the pandemic ravaged country after country and economies shuddered, consumers were the ones panic-buying. Today, on the rebound, it’s companies furiously stocking up. Mattress producers to car manufacturers to aluminum foil makers are buying more material than they need to survive... →

District Development Model seen as key to tackling delivery backlogs

By: Donna Slater 14th May 2021 Proponents of government's recently launched District Development Model (DDM) believe the joined-up model provides the framework required for South African municipalities to begin tackling their generally severe service-delivery problems. Conceptualised by the Department of Cooperative Governance... →

Sugar Masterplan starting to uplift industry – DTIC

By: Donna Slater 12th May 2021 The South African sugarcane industry has experienced a sharp decline in revenue and production in recent years, mainly as a result of cheap sugar imports that have flooded the local sugar market, as well as the Health Promotion Levy (HPL) or so-called sugar tax, that is threatening its future... →

Transformation of SEZs into truly special zones key to their success – CDE

By: Donna Slater 11th May 2021 In a new report, the Centre for Development and Enterprise (CDE) is calling on government to change or adapt special economic zones (SEZs) into areas that are “actually and truly special”, offering a modified labour market regime to attract companies and investment. CDE executive director Ann... →

CDE executive director Ann Bernstein outlines the organisation's vision to transform special economic zones into those that are truly “special”

Smart Borders concept a possibility through collaboration

By: Natasha Odendaal 10th May 2021 The resolution of border control challenges and the implementation of smart borders can be accomplished through cooperation, collaboration and trust-building between the public and private sectors. As technology evolves, so does the concept of borders; however, stakeholders need to ensure that... →

Ramaphosa, Patel welcome support for IP waiver on vaccines

By: Marleny Arnoldi 6th May 2021 President Cyril Ramaphosa has welcomed the US’s decision to support a waiver on certain intellectual property (IP) rights provisions covering Covid-19 vaccines. During his term as chairperson of the African Union that ended in February this year, Ramaphosa had championed the call for fair... →

The UK and India agree wide-ranging new strategic partnership

By: Rebecca Campbell 5th May 2021 On Tuesday, the Prime Ministers (PMs) of India and the UK agreed to create a ‘Comprehensive Strategic Partnership’ between the two countries. Indian PM Narendra Modi and UK PM Boris Johnson approved the partnership during a virtual bilateral summit. The UK is the first European country with which... →

DP World Komatipoort handles its first direct imports from Maputo

By: Schalk Burger 3rd May 2021 Trade solutions multinational DP World has completed the first transit import through the DP World Maputo port, in Mozambique, to DP World Komatipoort, in South Africa. This is a significant milestone as it demonstrates that the Maputo port can be seamlessly used as a gateway to South Africa, the... →

Lionel October served government with distinction, says Patel

By: Tasneem Bulbulia 30th April 2021 Trade, Industry and Competition Minister Ebrahim Patel has paid tribute to the outgoing director-general of the Department of Trade, Industry and Competition (DTIC) Lionel October, describing him as “a loyal and dedicated public servant who has served government with distinction”. October stepped... →

Lionel October

TFSA provides online tools to drive Southern African export development, growth

By: Schalk Burger 29th April 2021 UK government-funded trade development programme Trade Forward Southern Africa (TFSA) has launched its free-to-use Trade and Information Hub tool that enables businesses to identify potential export markets, as well as to access information abuot the customs duties, rules, regulations and... →

African trade finance hit by pandemic, but opportunities exist

By: Tasneem Bulbulia 23rd April 2021 Constrained global financial conditions caused by Covid-19 have led to massive portfolio outflows from Africa, exceeding $5-billion in the first quarter of 2020, a new continent-wide survey on trade finance has shown. About $3.1-billion left the South African market alone, the report found. →

South Africa makes progress on geographical indications to support rural, agricultural development

By: Schalk Burger 20th April 2021 South Africa is making progress on developing legal and regulatory frameworks for geographical indications (GI), which are designations for products that are linked to a region of origin and that have associated qualities. GI has been proven to enable producers to secure better prices for... →

R32bn invested in black industrialists, DTIC says in inaugural report

By: Tasneem Bulbulia 20th April 2021 The Department of Trade, Industry and Competition (DTIC) has released the first yearly Black Industrialist Report, highlighting the direct funding provided by the department, the National Empowerment Fund (NEF) and the Industrial Development Corporation (IDC) to support black industrialists and... →

$100bn bled from emerging markets during onset of Covid-19 in 2020 – Afreximbank

By: Donna Slater 16th April 2021 A survey and subsequent report ‘Survey of Impact of Covid-19 on African Trade Finance’ by the Africa Export-Import bank (Afreximbank), shows that outflows from emerging market economies in the first quarter of 2020 accounted for more than $100-billion. The report was a joint production between... →

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