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Trade News

Minerals Council says collaboration is key to unlocking growth-supporting infrastructure

By: Nadine James 22nd October 2021 There have been positive developments since the introduction of the Economic Reconstruction and Recovery Plan in October last year, and while implementation has been delayed, continued engagement between Minerals Council South Africa and government, as well as the current commodities price... →

Digital skills required to overcome Covid-19 trade impasse

By: Donna Slater 20th October 2021 In addressing the impact of the Covid-19 pandemic on the lives and livelihoods of many entrepreneurs, Department of Trade, Industry and Competition export promotion director Luke Govender said digital skills need to be bolstered. He spoke during an October 20 webinar, hosted by Trade Forward... →

R1.5bn allocated to assist businesses affected by July civil unrest

By: Donna Slater 20th October 2021 Money pooled by the Department of Trade, Industry and Competition (DTIC), the Industrial Development Corporation (IDC), the National Empowerment Fund and the Solidarity Fund to address disruption and losses to businesses affected by the mid-July civil unrest has amounted to R1.5-billion. Trade,... →

Tiger Brands’ A2X listing approved, trading to commence on October 26

By: Donna Slater 19th October 2021 JSE-listed South African packaged goods company Tiger Brands reports that the A2X has approved its secondary listing, with its ordinary shares to start trading on A2X from October 26. Tiger Brands will retain its primary listing on the JSE and its issued share capital will be unaffected by the... →

SABS launches local content verification scheme

By: Donna Slater 15th October 2021 The South African Bureau of Standard (SABS) has launched its new Local Content Verification Scheme, which offers domestic manufacturers the chance to certify the local content portion of their products or services. SABS lead administrator Jodi Scholtz says the new certification scheme, which has... →

US revises EU steel proposal as tariff-hike deadline looms

By: Bloomberg 13th October 2021 The US has submitted a new proposal to the European Union to solve a Trump-era dispute on steel tariffs, offering more-generous terms, according to people familiar with the matter. The updated proposal involves so-called tariff-rate quotas that Bloomberg reported last month, but provides for a... →

Messe Frankfurt South Africa appoints Michael Dehn MD

By: Donna Slater 5th October 2021 Events organiser Messe Frankfurt South Africa has appointed Michael Dehn as its new MD, effective October 1. He succeeded Joshua Low who resigned from the company. →

Messe Frankfurt South Africa MD Michael Dehn

Clear understanding between govt, business needed to boost economic recovery – Mavuso

By: Donna Slater 4th October 2021 Little can be done to drive an economic recovery without a clear understanding between business and government, says Business Leadership South Africa CEO Busi Mavuso, who joined other business representatives in a meeting with President Cyril Ramaphosa and his senior colleagues at the end of... →

Okonjo-Iweala grows frustrated with WTO inertia, floats quitting

By: Bloomberg 1st October 2021 Ngozi Okonjo-Iweala, the leader of the World Trade Organization, began the year with a plan to score quick negotiating victories that she said would help reboot the dysfunctional Geneva-based trade body. Now, seven months into her 4 1/2-year term, Okonjo-Iweala has fully grasped the frustrating... →

Global economy to face several headwinds going into second half – Fitch Solutions

By: Donna Slater 29th September 2021 Despite the global economy having performed strongly in the first half of the year, global economic activity has peaked and is starting to face several headwinds, says financial risk management, solutions and insights company Fitch Solutions Country Risk and Industry Research (Fitch Solutions)... →

Unequal access to vaccines a huge risk to a sustained global recovery, says Ramaphosa

By: Yvonne Silaule 28th September 2021 Unequal access to vaccines presents a huge risk to a sustained global recovery and the vaccine business should not be just about profit but about saving lives, President Cyril Ramaphosa said during the opening of the World Trade Organisation (WTO) World Trade Public Forum on September 28. The WTO... →

President Cyril Ramaphosa

Green bonds provide balance to traditional investment vehicles

By: Donna Slater 27th September 2021 Compared with traditional impact investment vehicles, which tend to be private equity, green bonds provide a “nice balance” in achieving a desired investment impact, environment, social and governance (ESG) advisory firm EBS Advisory CEO James Brice said during the Southern Africa Green Bonds... →

Maritime industry says decarbonisation urgent, achievable

By: Donna Slater 22nd September 2021 More than 150 maritime logistics roleplayers, representing the entire maritime value chain, including shipping, cargo, energy, finance, ports and infrastructure, have said that the full decarbonisation of international shipping is urgent and achievable. Ships transport about 80% of global trade... →

Trade policy can accelerate business emissions reduction – WEF study

By: Schalk Burger 20th September 2021 For businesses to reach their emissions targets, the global trading system needs to adapt and businesses are calling for that change, the World Economic Forum (WEF) states in its 'Delivering a Climate Trade Agenda' industry insights report. Action on trade is necessary for businesses to unlock... →

BLSA deplores the UK’s decision to keep South Africa on the red list for travellers

By: Marleny Arnoldi 20th September 2021 In this week’s Business Leadership South Africa (BLSA) newsletter, CEO Busi Mavuso bemoans the UK authorities’ decision to keep South Africa on the “red list” for travellers. The UK imposed a traffic light system to determine the correct Covid-19 precautions related to travellers, which is... →

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

Africa Investment Forum’s Market Days to be held from December 1 to 3

By: Donna Slater 17th September 2021 This year’s Africa Investment Forum’s Market Days – a multi-stakeholder, multi-disciplinary platform that advances private and public-private partnership projects to bankability stage, raises capital and accelerates deals to financial closure – will take place in Abidjan, Côte d’Ivoire, from... →

Covid-19 pandemic spurs Sars' modernisation programme

By: Schalk Burger 17th September 2021 The Covid-19 pandemic's impact on the South African Revenue Service (Sars) compressed a decade-long modernisation programme into two to three years, Sars commissioner Edward Kieswetter noted on September 16. "The pandemic struck as we were starting our journey of rebuilding Sars and reigniting... →

Sars customs modernisation depends on new skills and industry support to shape smart ecosystem

By: Schalk Burger 16th September 2021 The customs modernisation programme of the South African Revenue Service (Sars), announced on September 1, requires the upskilling of customs officials, as well as the support of and collaboration with industries, businesses and the whole of government to shape a customs and trade ecosystem that... →

AfDB supports intra-Africa trade with $50m facility with Standard Chartered

By: Creamer Media Reporter 15th September 2021 The African Development Bank (AfDB) board has approved a $50-million Trade Finance Unfunded Risk Participation Agreement (RPA) facility between the AfDB and Standard Chartered Bank. The agreement is expected to boost intra-Africa trade, promote regional integration and contribute to the reduction... →

Govt launches portal for businesses affected by unrest

By: Tasneem Bulbulia 14th September 2021 The South African government has launched an online Business Loss Portal for the registration of businesses that were affected by the unrest which took place during July 9 to 19 in KwaZulu-Natal, Gauteng and other affected areas in the country. As part of the relief package announced by President... →

BMW, JPMorgan urge UK to ease Covid limits on Southern Africa

By: Bloomberg 13th September 2021 Dozens of companies appealed to UK Prime Minister Boris Johnson to ease restrictions on travel from southern Africa that are hampering trade. The limits on movement are jeopardising the competitive advantage the UK has, which stem from its historical, cultural and economic links with Africa, the... →

First woman takes the reins at Unctad

By: Marleny Arnoldi 13th September 2021 Economist Rebeca Grynspan has effectively taken up her role as secretary-general of the United Nations Conference on Trade and Development (Unctad) for the next four years. She is the first woman to serve in this position, after being nominated by the prior secretary-general António Guterres... →

Competition Commission advances efforts to mitigate price gouging during pandemic

By: Tasneem Bulbulia 10th September 2021 The Covid-19 pandemic has led to a spike in price gouging and complaints from customers, and the Competition Commission of South Africa had to, and continues to, focus efforts on mitigating this situation, and has learnt several lessons from this. This was indicated during the a webinar hosted by... →

An image of Competition Commission Litigation manager

Competition Commission Litigation manager Candice Slump outlines the CC‘s legal and practical approach to price gouging during the pandemic.

Freight, logistics integration key to successful intracontinental trade

By: Theresa Bhowan-Rajah 10th September 2021 Although the African Continental Free Trade Area (AfCFTA) agreement aims to achieve an economically integrated continent, with successful trading among African countries, the Trade Research Advisory tells Engineering News that this will prove challenging in the short to medium term. “Government... →

EASY TRADE Africa does not have the required and efficient physical infrastructure to move goods cost-effective and efficiently

TFR approaches customers on security levy to raise funds for rapid security overhaul

By: Terence Creamer 3rd September 2021 State-owned railway utility Transnet Freight Rail (TFR) is approaching its customers about instituting a three-year security levy, which will be used to raise the funding needed for the rapid deployment of technology-based security solutions across a network that is currently collapsing under the... →

Report encourages fit-for-purpose cross-border road transport interventions

By: Simone Liedtke 1st September 2021 South Africa has seen a 6% fall in exports, from R253-billion in 2019 to R238-billion in 2020, which the Cross-Border Road Transport Agency (C-BRTA) largely attributed to the widespread impact of the Covid-19 pandemic. The pandemic, it said, severely affected South Africa’s exports owing to the... →

The Beitbridge Border Post.

Importance of incentives for emerging filmmakers emphasised

By: Tasneem Bulbulia 31st August 2021 The Department of Trade, Industry and Competition (DTIC) established the South African Emerging Black Film Incentives as a vehicle to promote transformation in the film industry and to trigger the participation of black filmmakers in the mainstream economy, which up until 2014 had not mirrored... →

Women-developed products launched with the help of the Technology Innovation Agency

By: Donna Slater 30th August 2021 Five women-led products and innovations, developed with the assistance of the Technology Innovation Agency (TIA), were launched and showcased to the market on August 30. The products include skincare products, a personal tracking device for children, an alternative to drinking yoghurt and a... →

G20 Compact with Africa reaffirms commitment to securing recovery from Covid-19

By: Tasneem Bulbulia 30th August 2021 Participants of a G20 Compact with Africa meeting last week assessed the continent’s progress in fighting the Covid-19 pandemic. “We are meeting at a pivotal time in the relationship between Africa and the rest of the world,” said Italian PM Mario Draghi. →

Failure to heed warnings about a disease like Covid-19 a bigger risk than the disease itself – Whitfield

By: Donna Slater 24th August 2021 The major risk posed by Covid-19 is not the disease itself, but instead humankind’s inaction to heed calls that such an event could lead to the crippling of global economies and other systems, independent broadcaster, journalist and writer Bruce Whitfield said on August 24. He gave the keynote... →

Vinpro court case opposing ongoing alcohol bans to be heard this week

By: Donna Slater 23rd August 2021 Nonprofit wine producers organisation Vinpro reports that its court case, contesting the approach followed by government towards liquor ban restrictions within the Disaster Management Act, is set for hearing in the Western Cape High Court from August 23 to 26. Vinpro launched its legal... →

Western Cape rooibos industry receives a certificate for PDO in Europe

By: Yvonne Silaule 23rd August 2021 The European Union (EU) on August 23 handed over a certificate to the Western Cape Rooibos industry recognising its registration for Protected Designation of Origin (PDO) in the EU. Rooibos is now the first African product to receive PDO status from the EU. →

Bidvest records strong full-year performance

By: Tasneem Bulbulia 23rd August 2021 JSE-listed Bidvest Group says it has delivered a very strong trading profit performance, backed by exceptional cash generation and a solid balance sheet, for the financial year ended June 30. Its sequential quarterly performance also improved progressively, the group notes. →

Demand for vaccines requires boost to enable full reopening of economy

By: Donna Slater 23rd August 2021 Despite an anti-vaccination contingent in South Africa’s society, Business Leadership South Africa CEO Busi Mavuso says common sense and rationality prevail for the most part in terms of acceptance and a willingness to get vaccinated – a factor that could soon mean the complete reopening of the... →

CDC establishes sustainability business unit to accelerate SEZ’s sustainable growth

By: Donna Slater 19th August 2021 The Coega Development Corporation (CDC) has announced plans to enhance its focus by establishing a new sustainability business unit to drive sustainable growth of the Coega Special Economic Zone (SEZ) and external services on the infrastructure delivery programmes, which include operations in the... →

WEF New Champions chapter launched in South Africa

By: Donna Slater 19th August 2021 The World Economic Forum’s (WEF’s) New Champions chapter in South Africa was launched on August 19 by Risk Insights – a WEF New Champions member and New Champions Award for Excellence in Agile Governance 2020 winner – and its strategic partners, Imperial Logistics and Instinctif Partners. The... →

Derby optimistic port terminal operators will partner with Transnet at Durban and Ngqura

By: Terence Creamer 18th August 2021 Transnet CEO Portia Derby says the State-owned freight logistics utility has had initial engagements with some international terminal operators and shipping companies regarding the potential to form partnerships to improve the performance of its container terminals at the ports of Durban and... →

Transnet CEO Portia Derby outlines the group's masterplan for the Port of Durban during a Toyota Wessels Institute for Manufacturing Studies webinar. Editing: Nicholas Boyd. Recorded: 18.8.2021

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