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Trade News

Consumer behaviour to remain restricted as household budgets continue to take strain – Deloitte

By: Donna Slater     14th April 2021 Although it is now well known that Covid-19 has subdued global economies and put strain on consumers’ willingness to splurge on non-essential items, professional services firm Deloitte shines a light on how consumer behaviour is being shaped currently and how they plan to spend money going into... 

Trade conditions turn more positive – Sacci

By: Creamer Media Reporter      14th April 2021 The more stringent lockdown in December 2020 and the dampening effect it had on trade conditions, gave way to a more optimistic outlook in February and March, says the South African Chamber of Commerce and Industry (Sacci). The Sacci Trade Activity Index (TAI) improved to 49 in March, from 40 in... 

Ngqura Container Terminal mobilises to offload reefers in anticipation of citrus season

By: Donna Slater     13th April 2021 With South Africa’s citrus season looming and a global shortage of mobile refrigerated shipping containers (otherwise known as reefers), the Ngqura Container Terminal (NCT), in Port Elizabeth, is mobilising offloading equipment to assist in the offloading of reefers that have been diverted by... 

Ngqura Container Terminal mobilises to offload reefers in anticipation of citrus season

SEZ Programme successfully driving industrialisation – DTIC

By: Donna Slater     13th April 2021 Despite the devastating impact of the Covid-19 pandemic on South Africa’s economy, Trade, Industry and Competition Deputy Minister Nomalungelo Gina says the Special Economic Zones (SEZ) Programme continues to “successfully drive industrialisation” of the country. She explains that the programme... 

Virtual trade deal room launched for West Africa Trade Hub

By: Schalk Burger     7th April 2021 Private sector growth support organisation the West Africa Trade & Investment Hub has launched a Virtual DealRoom to provide investors worldwide with information about and access to its pipeline of impact business opportunities in agriculture, financial services, healthcare, water and sanitation,... 

International trade decline not as significant as expected – DP World

By: Donna Slater     6th April 2021 Contrary to an expected dramatic decrease in international trade, flows have increased, with 38% of Middle Eastern companies and 32% of African companies managing to expand international sales, a global study of private sector perspectives shows. Commissioned by end-to-end supply chain and... 

Cooperative Governance dept partners with UN to roll out District Development Model for three districts 

By: Donna Slater     6th April 2021 A partnership between South Africa’s Department of Cooperative Governance and Traditional Affairs (Cogta) and the United Nations in South Africa (UN-SA) was launched on April 6 in support of the implementation of the District Development Model (DDM) in the OR Tambo District of the Eastern Cape.... 

Sars revenue boost a result of good luck and not good policy, says BLSA CEO

By: Donna Slater     6th April 2021 The announcement last week by the South African Revenue Service (Sars) that it had managed to exceed revised budgets for tax collections, with the collection of R38-billion more than had been estimated in the February budget for the 2020/21 year, is “very welcome”, says Business Leadership South... 

DTIC meets US trade representative about bilateral, multilateral trade issues

By: Schalk Burger     31st March 2021 Trade, Industry and Competition Minister Ebrahim Patel on March 30 met virtually with the newly-appointed US Trade Representative ambassador Katherine Tai to discuss a range of bilateral and multilateral trade issues, including the US’s Section 232 tariffs, agricultural market access and the... 

The Suez Canal crisis has ended. Time to add up the damages

By: Bloomberg     30th March 2021 The immediate crisis of the Suez Canal blockage may have ended, but the battle over damages from the waterway’s longest closure in almost half a century is just beginning. The long-term cost of the canal’s estimated $10-billion-a-day closure will likely be small, given that global merchandise... 

Giant ship blocking Suez canal refloated in dawn rescue effort

By: Bloomberg     29th March 2021 The giant container ship blocking the Suez Canal has been at least partially refloated, the first step toward getting one of the world’s most important trade arteries moving again. The Ever Given was successfully refloated at about 04:30 local time in Egypt and the vessel is currently being... 

SA Mint rounds out Big Five collectors coin range with release of Buffalo coin

By: Donna Slater     26th March 2021 The South African (SA) Mint, a wholly-owned subsidiary of the South African Reserve Bank, has released two new coin ranges for this year, including the highly-anticipated Big Five African Buffalo coin. Introduced in 2019, the Elephant, Lion, Rhinoceros and the Leopard have already been issued as... 

SA Mint rounds out Big Five collectors coin range with release of Buffalo coin
The newly minted Big Five African Buffalo coin

Nigeria Minister pushes timeous project completion

26th March 2021 Nigeria Minister of Transportation Rotimi Amaechi tasked the promoters of the Lekki Deep Sea Port project situated in Lekki, Nigeria, with timely completion to ensure commencement of commercial activity by 2022. Amaechi made this known during a monitoring visit to the Lekki Deep Sea Port site on... 

Nigeria Minister pushes timeous project completion
MINISTERIAL MOTIVATION The Minister of Transportation in Nigeria has pushed promoters for the on-time completion of the Lekki Deep Sea Port

New straddle carriers now available in Africa

26th March 2021 Earlier this year, South Africa-based equipment supplier BLT World announced the launch of its new Mobicon 2HL series mini straddle carriers in Africa. Mobicon container handlers – key machines in BLT World’s range of container handling equipment – are designed for lifting containers securely... 

New straddle carriers now available in Africa
UPLIFTING The mini straddle carriers are capable of lifting containers two high for efficient stacking

Agriculture bodies call for increased access to growing Brics markets

By: Schalk Burger     23rd March 2021 The Agricultural Business Chamber of South Africa (Agbiz), industry organisations Agri SA, the African Farmers’ Association of South Africa (Afasa), the Bureau for Food and Agricultural Policy (BFAP) and the National African Farmers’ Union (Nafu) have met with the Department of Trade, Industry... 

Business community calls for increased engagement with WTO

By: Tasneem Bulbulia     19th March 2021 Industry organisation Business Unity South Africa and other business associations, representing 14 countries on six continents, have congratulated Dr Ngozi Okonjo-Iweala on her appointment as director-general of the World Trade Organisation (WTO). The business community has also jointly written a... 

SABS develops poultry standard to improve welfare of chickens

By: Donna Slater     18th March 2021 As part of its efforts to support the South African poultry industry, the South African Bureau of Standards (SABS), through its technical committee, has developed a draft South African Standard (DSS) 1758 that focuses on the welfare of chickens. The new standard is in line with President Cyril... 

What countries will fight over when green energy dominates

By: Bloomberg     16th March 2021 The Rand Corporation’s been designing war games with the Pentagon since the 1950s, modelling such hard-nosed security scenarios as a two-front US war with China and Russia. Now the think tank is turning its realpolitik tool kit to a question more often associated with environmental dreamers: How... 

Sugar Master Plan contributing to industry’s growth – Patel

By: Donna Slater     15th March 2021 Trade, Industry and Competition Minister Ebrahim Patel last week told farmers, millers, retailers, food producers and trade unions that the implementation of the Sugar Master Plan is resulting in signs of growth during a virtual briefing. Detailing the progress in implementing the master plan,... 

Three-quarters of CEOs globally predict a return to growth this year 

By: Donna Slater     12th March 2021 A survey by professional services firm PwC of more than 5 000 CEOs globally reveals record levels of optimism, with more than 76% suggesting global economic growth will improve this year. The figures come from PwC's twenty-fourth 'Annual Global CEO Survey', which this year polled 5 050 CEOs in... 

Famous Brands' mainstream sales down 28.6% as a result of Covid-19 restrictions

By: Donna Slater     11th March 2021 JSE-listed branded food services business Famous Brands reports that early 2020 Covid-19 lockdowns in South Africa impacted its franchise, master license and company-owned restaurant business, with its “leading” or mainstream brands’ system-wide sales in South Africa having declined by 28.6% for... 

SABS tasked to eliminate technical barriers to trade

By: Marleny Arnoldi     8th March 2021 The South African Bureau of Standards (SABS) has taken part in a virtual seminar with the World Trade Organisation (WTO) to discuss the national regulatory organisation’s responsibilities around the WTO Technical Barriers to Trade Agreement’s Transparency Framework. The seminar discusses the... 

President addresses need for efficient rail and ports network

By: Halima Frost     5th March 2021 South Africa’s ability to compete in global markets depends on the efficiency of its ports and rail network, President Cyril Ramaphosa said in his State of the Nation address held in Cape Town last month. He suggested that key infrastructure projects currently underway, including establishing... 

President addresses need for efficient rail and ports network
ON TRACK In order for South Africa to compete globally its rail and port infrastructure needs to be addressed

DRC, as a keystone in AfCFTA, can link regional value chains

By: Schalk Burger     3rd March 2021 Trade and development experts have detailed the key role the Democratic Republic of Congo (DRC) can play in providing mineral resources for industrial and manufacturing value chains, supporting agricultural and agroprocessing value chains and serving as an epicentre for intra-African trade to... 

DRC, as a keystone in AfCFTA, can link regional value chains
Saceec CEO Eric Bruggeman

Africa's M&A activity to recover in next 18 to 24 months

By: Donna Slater     2nd March 2021 Africa should be considered a promising component of merger and acquisition (M&A) strategies, in spite of the relatively small M&A market size and the impact of Covid-19 on economies, a new report published by business strategy consultancy Boston Consulting Group (BCG) states. Making up only 2%... 

Nigeria's Okonjo-Iweala says 'ready to go' on day 1 as WTO boss

By: Reuters     1st March 2021 The World Trade Organization's first female and first African director-general Ngozi Okonjo-Iweala began work on Monday, ending a six-month leadership void at the global trade watchdog. After a long campaign that was derailed in the late stages by a Trump administration veto, the 66-year-old... 

Poultry Master Plan benefiting industry, says Sapa

By: Donna Slater     26th February 2021 The Poultry Master Plan, as implemented by the Department of Trade, Industry and Competition (DTIC), is propelling new entrants and emerging role-players in the industry to build their businesses and expand markets, according to South African Poultry Association broiler organisation GM Isaak... 

Manufacturing recovery’s slow pace a concern, Seifsa

26th February 2021 The Steel and Engineering Industries Federation of Southern Africa (Seifsa) is concerned about the slow pace of recovery in the manufacturing sector, as depicted by the manufacturing Purchasing Managers' Index (PMI) number of 50.9 last month – lower than the 2020 fourth quarter average. 

Manufacturing recovery’s slow pace a concern, Seifsa
MULTIPLIER EFFECT The manufacturing sector remains key to the growth and development of South Africa owing to its multiplier effect on other sectors of the economy

Safe and reliable steel production even more crucial

26th February 2021 High temperatures, molten metals and heavy loads are some of the challenges faced during steel production, says industrial instrumentation and automation multinational Endress+Hauser. 

Safe and reliable steel production even more crucial
ZOOMING INTO SAFETY Over the years, the importance of safety has grown substantially, whereby laws and regulations governing the smelter and metals sector have become stricter

Companies committed to transformation honoured

26th February 2021 Entries are open for the seventh annual Steel and Engineering Industries Federation of Southern Africa (Seifsa) Awards for Excellence and the federation is calling on all companies within the metals and engineering (M&E) industry to send in their submissions for the Most Transformed Company of... 

Companies committed to transformation honoured
TRANSFORMATION GOALS The Most Transformed Company of the Year Award honours and celebrates companies that have been able to transform their workplaces meaningfully

Some of Kruger’s ‘lost hoard’ up for sale through SA Mint

By: Donna Slater     25th February 2021 The South African Mint has released what it says is a rare, intriguing trove of century-old South African gold coins – Kruger ponde – that were discovered in a Swiss vault. The Mint is a wholly-owned subsidiary of the South African Reserve Bank.   

Some of Kruger’s ‘lost hoard’ up for sale through SA Mint
The Kruger half-pond

Massmart says Covid-19 restrictions cost it R6bn in sales during 2020

By: Tasneem Bulbulia     19th February 2021 JSE-listed Massmart has recorded a 7.7% decrease in sales to R86.5-billion for 2020. Sales in the fourth quarter had contracted by 4.1% year-on-year, as a result of softer sales over the Black Friday period, in addition to lower foot traffic, especially in regional malls. 

Crime and (no) punishment: Why Africa's ports are vulnerable to counterfeit Covid vaccines

By: News24Wire      18th February 2021 Black-green tears of moss streak the facades of once-white buildings. The city is a maze of narrow streets, some cobbled with sea-stones, calcified by the centuries that have passed since they were laid. The air, always humid, is aromatic with sweet spices and fish, salt-washed from the nearby... 

Second Covid-19 wave and stricter lockdown impact on trade conditions

By: Donna Slater     17th February 2021 The second wave of Covid-19 infections and the return to a more stringent lockdown in December 2020 caused a setback in trade conditions during the holiday period, which spilled over into January, the South African Chamber of Commerce and Industry’s (Sacci's) Trade Activity Index (TAI) shows.... 

Nigeria's Okonjo-Iweala makes history as head of WTO 

By: Reuters     16th February 2021 Three months after the Trump administration rejected her, former Nigerian finance minister Ngozi Okonjo-Iweala received unanimous backing on Monday to become the first woman and first African director-general of the World Trade Organization (WTO). A self-declared "doer" with a track record of... 

Nigeria's Okonjo-Iweala makes history as head of WTO
Nigeria's Okonjo-Iweala makes history as head of WTO (Video: WTO)

Africa's miners and winemakers toast China's row with Australia

By: Reuters     10th February 2021 For South African winemaker Vergenoegd Löw, the pandemic could have been a disaster but a bitter trade war between China and Australia has thrown the 325-year-old estate a lifeline. Bottles of its reds, whites and roses piled up when South Africa banned alcohol sales under a strict lockdown and... 

Third quarter exports grow as economies recover – TIPS

By: Donna Slater     8th February 2021 South Africa’s exports have benefitted from the recovery of the Chinese economy and rising global demand for commodities, such as precious stones, which has led to growth exceeding pre-Covid-19 lockdown levels during the third quarter of 2020, Trade and Industrial Policy Strategies' (TIPS's)... 

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