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Trade News

S&P not planning immediate rating actions as a result of civil unrest

By: Donna Slater     27th July 2021 Ratings agency Standard & Poors (S&P) Global Ratings does not expect to take any immediate rating actions in the wake of the mid-July civil unrest that affected KwaZulu-Natal and parts of Gauteng. The unrest, which included widespread looting, violence, vandalism, loss and damage of stock, left... 

Transnet expects to lift force majeure at port terminals ‘soon’ 

By: Creamer Media Reporter      27th July 2021 State-owned freight logistics group Transnet, whose operations have been seriously disrupted by recent unrest and a major cyberattack, confirmed on Tuesday that Transnet Port Terminals had communicated a force-majeure declaration with customers on Monday July 26, covering the period from July 22... 

Photo of the Durban Container Terminal
Photo by Creamer Media
The Durban Container Terminal

WTO’s holiday from vaccine equity talks draws calls for action

By: Bloomberg     27th July 2021 An urgent global effort to rebalance the inequity between rich, vaccinated nations and poor nations sliding further into pandemic misery is colliding with an immovable calendar conflict: the European summer holiday. Next week World Trade Organization delegates are planning to depart Geneva for... 

An image of various manufacturers' Covid-19 vaccines

Busa welcomes easing of restrictions, others caution of damage already done

By: Donna Slater     26th July 2021 President Cyril Ramaphosa’s July 25 address to the nation and the lifting of Covid-19 restrictions from adjusted Alert Level 4, to adjusted Alert Level 3, has been welcomed by Business Unity South Africa (Busa), while the South African Liquor Brandowners Association (Salba) has expressed concern... 

Insurers advise on claims related to civil unrest

By: Donna Slater     23rd July 2021 Following the looting that took place during the civil unrest of mid-July in KwaZulu-Natal and Gauteng, insurance experts advise that claimants ensure they have proof of damage or loss or destruction of stock, to ensure they are able to submit claims within the 30-day threshold. During a webinar... 

Basa requests urgent meeting with Patel to save industry on the brink of collapse

By: Donna Slater     21st July 2021 In the wake of the recent civil unrest, which resulted in 161 liquor outlets and distribution centres being looted and damaged in KwaZulu-Natal and Gauteng, the beer industry is urgently calling for the alcohol ban to be lifted so that legal businesses can operate. Enabling liquor business to... 

Report shines light on empowerment of women in green industry

By: Donna Slater     20th July 2021 The virtual launch of a assessment report on the Empowerment of Women in the Green Industry Policy on July 20 has been welcomed by Trade, Industry and Competition Deputy Minister Nomalungelo Gina, who delivered an address at the event. The report is the result of the collaboration between the... 

Hulamin resumes production as unrest subsides

By: Donna Slater     20th July 2021 JSE-listed aluminium fabricator Hulamin has resumed production activities as of July 16, owing to an abatement in the recent domestic civil unrest in South Africa, which was centered in KwaZulu-Natal. The company is headquartered in Pietermaritzburg – a town that experienced a significant flare... 

Meat importers call for expedited flow of product through Durban port

By: Marleny Arnoldi     20th July 2021 The Association of Meat Importers and Exporters (Amie) has called for urgent intervention to fast-track imports through the Durban port. The association says the import food industry has lost 40 000 t of cold storage capacity and that significant volumes of raw material has been lost as a... 

UK launches consultation for better trade access to Britain for poorer developing countries

By: Rebecca Campbell     19th July 2021 On Monday the British government launched a consultation process for its proposed new rules for trade between the UK and some 70 low-income and lower-middle-income developing countries. The new rules are called the Developing Countries Trading Scheme (DCTS) and are intended to help developing... 

Healthcare councils condemn looting, warn of worrying and dangerous consequences

By: Donna Slater     19th July 2021 South Africa’s statutory health regulatory councils, together with the Department of Health (DOH), have condemned the looting and violence last week, especially those acts that targeted healthcare facilities and the medicines supply chain. The councils involved include the South African Health... 

Tiger Brands estimates R150m loss of stock, temporarily shuts KZN operations

By: Donna Slater     15th July 2021 As a result of the ongoing civil unrest, looting and vandalism in Kwa-Zulu Natal and parts of Gauteng, JSE-listed food manufacturer Tiger Brands estimates the costs of the loss of stock to be in excess of R150-million. A number of its sites in KwaZulu-Natal have been affected by acts of looting... 

Time to act, is now, says SAAFF in response to looting, destruction

By: Simone Liedtke     15th July 2021 The South African Association of Freight Forwarders (SAAFF) has joined others in condemning the destruction of the country’s key infrastructure, goods and property and the senseless loss of lives over the past week. “We respect South Africa’s law and the Constitution, but it is time to take... 

Afreximbank and ACBF sign collaboration agreement to build development capacity

By: Donna Slater     13th July 2021 The Africa Export-Import Bank (Afreximbank) and the African Capacity Building Foundation (ACBF) have signed an agreement to support capacity development initiatives over a period of five years, ending in 2025. The agreement, signed by Afreximbank president Professor Benedict Oramah and ACBF... 

Alcohol industry laments sales ban extension

By: Donna Slater     12th July 2021 The South African Liquor Brandowners Association (Salba) and National Liquor Traders (NLT) note their disappointment in President Cyril Ramaphosa’s decision to extend the current ban of alcohol sales by another two weeks. In a joint statement, the two organisations suggest that the decision to... 

Sars, Busa form economic operator stakeholder group to improve border management

By: Schalk Burger     9th July 2021 The South African Revenue Service (Sars) and business advocacy organisation Business Unity South Africa (Busa) on July 9 announced the formation of the Sars Private Sector Authorised Economic Operator (AEO) Stakeholder Group to improve border management. Over the next four years, the programme... 

New Development Bank has role to play for Global South in a post-Covid-19 era

By: Tasneem Bulbulia     7th July 2021 The New Development Bank has played a key role in supporting Brazil, Russia, India, China and South Africa (Brics) through the pandemic. It is also expected to continue playing an integral role in helping to resolve the economic challenges arising from the Covid-19 pandemic and other... 

DTIC to host virtual footwear and leather products exhibition on July 7

By: Donna Slater     6th July 2021 A virtual exhibition to promote South Africa’s industrial capabilities and position  South African companies that manufacture footwear and leather products as suppliers of choice to Saudi Arabia and the United Arab Emirates (UAE) will take place on July 7. The exhibition will be hosted by the... 

Salba requests excise duties deferment to offset liquor prohibition implications

By: Donna Slater     6th July 2021 The South African Liquor Brandowners Association (Salba) states that the current 14-day ban of alcohol sales declared by government on June 27 has left it with “no choice” but to request that the South African Revenue Service (Sars) provide extended payment terms on the excise duties currently... 

Durban to host Intra-African trade fair in November

By: Schalk Burger     5th July 2021 The second Intra-African Trade Fair (IATF2021) will be held in Durban, KwaZulu-Natal, from November 15 to 21. The Trade Fair was initially scheduled to be held in Kigali, Rwanda, from December 8 to 14. 

Govt still remiss in its consultation with private sector on Covid-19 lockdowns, says BLSA

By: Donna Slater     5th July 2021 Despite the improvements in government’s approach to tackling the Covid-19 pandemic and associated lockdown regulations, Business Leadership South Africa CEO Busi Mavuso says government has still not embraced consultation with the private sector. She points out this has been a case in point with... 

RMB sees blockchain supporting intra-African trade facilitation, growth

By: Schalk Burger     29th June 2021 The growing adoption of blockchain in African trade could make a material difference to the economic growth of many African countries, especially as they emerge from the pandemic. Intra-African trade could rise by 20% to 30% within the next five years with the use of digitisation and blockchain,... 

Salba requests data that drove latest alcohol sales ban

By: Donna Slater     29th June 2021 The South African Liquor Brandowners Association (Salba) has written to Ministerial Advisory Council (MAC) chairperson Professor Koleka Mlisana, calling for the release of the information that informed the MAC’s recommendation to the National Coronavirus Command Council (NCCC) to reimpose a ban... 

New restrictions putting many jobs at risk, commentators warn

By: Donna Slater     28th June 2021 Following President Cyril Ramaphosa’s announcement of the move to adjusted Alert Level 4 Covid-19 restrictions and the accompanying ban on alcohol sales, the South African Liquor Brandowners Association (Salba) is requesting government to reassess its measures and to focus on its vaccine rollout... 

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.... 

Partnership eyed for vaccine rollout acceleration in 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
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
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
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... 

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