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Trade News

The UK signs trade continuity agreement with five African countries as Brexit nears

By: Rebecca Campbell 15th February 2019 At the end of last month the UK signed a trade continuity agreement with countries from Eastern and Southern Africa. The countries concerned are the Comoros, Madagascar, Mauritius, Seychelles and Zimbabwe. These countries had, in 2009, signed an Economic Partnership Agreement (EPA) with the... →

Cryptocurrency trader welcomes SARB policy approach

By: Schalk Burger 15th February 2019 Local cryptocurrency trading platform Luno country manager Marius Reitz praises the South African Reserve Bank’s (SARB’s) approach to developing a regulatory response to cryptoassets in South Africa, which aims to protect cryptocurrency users and support the growth and development of the... →

MARIUS REITZ The regulations aim to ensure that the platforms are safe for people to use and combat illicit capital flows

As renewables soar, BP sees China hitting brakes on energy growth

By: Reuters 14th February 2019 Global demand for renewable power will soar at an unprecedented pace over the coming decades, BP said in a benchmark report on Thursday, while China’s energy growth is seen sharply decelerating as its economic expansion slows. Still, China is set to remain the largest energy consumer by a long... →

Luxembourg Protocol can save South Africa billions – Rail Working Group

By: Natasha Odendaal 14th February 2019 The adoption of the Luxembourg Rail Protocol to the Cape Town Convention on International Interests in Mobile Equipment is expected to be a game changer for South Africa, said Rail Working Group chairperson Howard Rosen on Thursday. The treaty, which is expected to enter into force late in 2019,... →

South African roll-over trade agreement with UK to be finalised before February 21

By: Marleny Arnoldi 13th February 2019 Parliament’s Portfolio Committee on Trade and Industry on Wednesday announced that the Department of Trade and Industry’s (DTI’s) negotiation team expected to reach a roll-over agreement with the UK by February 21. This regards preferential trading arrangements after the British exit from the... →

Survey still points to stifled trade environment in 2019 – Sacci

By: Marleny Arnoldi 13th February 2019 Seventy per cent of respondents to the South African Chamber of Commerce and Industry’s (Sacci’s) trade conditions survey for January were negative about trade conditions. The Trade Activity Index (TAI), at 30 in January, was at its lowest level since inception of the survey in 2000. The prior... →

Sasol expects higher H1 earnings, but warns of Lake Charles cost increase

By: Nadine James 8th February 2019 Chemicals and energy company Sasol expects to report earnings per share (EPS) and headline earnings per share (HEPS) of between R23.71 and R24.16 and between R22.97 and R23.68, respectively, for the six months ended December 31. This means EPS is expected to increase by between 110% and 114%... →

Software adds value to automotive manufacturer supply chain

By: Thabi Madiba 8th February 2019 Software company Syspro Africa’s Enterprise Resource Planning (ERP) software enables automotive manufacturing and distribution companies to manage supply chain and financial processes. Syspro Africa professional services manager Doug Hunter explains that the ERP software assists automotive... →

Photo by Bloomberg
ON DUTY An employee holds a metal casing for an automotive steering system

Brimstone second-guesses Clover deal following BDS outcry

By: Nadine James 7th February 2019 JSE-listed Brimstone Investment Corporation is reviewing its participation in the proposed buyout of Clover Industries, following an outcry by human rights and Palestine solidarity organisation BDS South Africa. Clover and Brimstone separately reported on Monday that Milco SA – a new company... →

New floating caisson to improve productivity at Cape Town dry dock

By: Nadine James 7th February 2019 A new, R98-million floating caisson is to be fabricated for the Sturrock Dry Dock in the Port of Cape Town, which will enable one of the biggest dry dock facilities in the Southern Hemisphere to double its productivity, the Transnet National Ports Authority (TNPA) announced on Thursday. TNPA... →

Sturrock dry dock

South African exporters urged to exploit Germany’s new Africa-specific initiatives

By: Nadine James 7th February 2019 South African exporters should take advantage of new German initiatives on Africa, as they are geared towards stimulating business, trade and economic development, South Africa’s Foreign Economic Representative in Germany Jacob Moatshe stated at the Fruit Logistica Berlin trade fair, on... →

South Africa's Foreign Economic Representative in Germany Jacob Moatshe

Mboweni appoints panel to assist in appointment of Sars commissioner

By: Nadine James 7th February 2019 Finance Minister Tito Mboweni has appointed a panel to interview and recommend a shortlist of potential candidates for the position of the Commissioner of the South African Revenue Service (Sars). The President appoints the Sars Commissioner, but the Finance Minister is responsible for overseeing... →

UK and five African countries sign agreement to ensure trade continuity after Brexit

By: Rebecca Campbell 5th February 2019 At the end of last month the UK signed a trade continuity agreement with countries from Eastern and Southern Africa. The countries concerned are the Comoros, Madagascar, Mauritius, Seychelles and Zimbabwe. These countries had, in 2009, signed an Economic Partnership Agreement (EPA) with the... →

Photo by Crown Copyright
UK Trade Minister George Hollingbery

Next generation of ‘smart lighting’ to be showcased at Taiwan expo

By: Simone Liedtke 1st February 2019 Energy efficiency is critical to sustaining smart cities, especially amid increasing urbanisation. Subsequently, the lighting industry’s focus seems to have shifted from replaceable lighting to special niche lighting, which includes aspects of smart lighting and the use of light-emitting diodes... →

Photo by Simone Liedtke
ON DISPLAY Industrial lighting company ShinyU Lighting Company puts its products on show

Trade surplus widens in December

By: Reuters 31st January 2019 South Africa's trade balance recorded a surplus of R17.17-billion in December from a revised R3.29-billion surplus in November, official data showed on Thursday. Exports fell by 13.4% on a month-on-month basis to R102.75-billion in December, while imports decreased 25.8% to R85.58-billion, the... →

ARC to launch new range of cultivated indigenous citrus, deciduous fruits in Germany

31st January 2019 The Agricultural Research Council (ARC) will, next week, launch its new range of cultivated indigenous citrus and deciduous fruits during the twenty-seventh Fruit Logistica International Trade Fair, in Berlin, Germany. The ARC will be among 25 businesses and research institutions that will... →

UK Minister for Africa Harriett Baldwin in SA for bilateral talks

By: African News Agency 31st January 2019 The United Kingdom (UK) Minister of State for Africa, Harriett Baldwin will arrive in Johannesburg on Thursday for a two-day visit to South Africa, the British High Commission said. Baldwin is set to hold talks with senior South African government officials, the business sector and civil society... →

TNPA appoints multipurpose terminal operator at PE port

By: Simone Liedtke 29th January 2019 The Transnet National Ports Authority (TNPA) has concluded an agreement with Bidfreight Port Operations (BPO) for the design, development, financing, construction, operation, maintenance and transfer of a multipurpose terminal at Sheds 10 and 11 in the Port of Port Elizabeth, following an open... →

TNPA COO Nozipho Mdawe (Left) hands over the official agreement to BPO MD Jannie Roux (Right)

Nontariff barriers are holding African economic growth back – WEF panel

By: Marleny Arnoldi 25th January 2019 A panel of business leaders speaking at the World Economic Forum (WEF) meeting, in Davos, Switzerland, this week, bemoaned the difficulty in obtaining work permits and visas for Africans across the continent and discussed the urgent need for Africa to focus on reducing nontariff barriers to... →

Modi, Ramaphosa announce 3yr strategic cooperation programme

By: Marleny Arnoldi 25th January 2019 Indian PM Narendra Modi and President Cyril Ramaphosa have agreed that considerable scope exists for India and South Africa to grow their bilateral economic relationship. “To ensure concrete deliverables Modi and I concluded this morning a three-year Strategic Programme of Cooperation aimed at... →

President Cyril Ramaphosa

SA has good policies but lacks implementation – Trade and Industry official

By: African News Agency 18th January 2019 South Africa has some of the best economic policies in the world but fails when it comes to implementing them, a senior government official said on Friday. The deputy director-general of special economic zones and economic transformation at the department of trade and industry Sipho Zikode also... →

Inside one of Joburg’s flagship urban renewal projects

By: Dylan Slater 18th January 2019 Urban property fund Divercity is helping City of Johannesburg mayor Herman Mashaba to realise his concept of restoring the Johannesburg central business district (CBD) to a degree of its former glory, as well as his wish to “turn Johannesburg into a construction site”, with old buildings being... →

Trade conditions to remain subdued, warns Sacci

By: Marleny Arnoldi 16th January 2019 The South African Chamber of Commerce and Industry’s (Sacci’s) trade conditions survey for December showed that activity had improved slightly on November, if adjusted for seasonal factors, while six-month prospects remained subdued. The seasonally adjusted Trade Activity Index (TAI) was at 47,... →

ABSA PMI ends 2018 on a positive note

By: Simone Liedtke 9th January 2019 The seasonally adjusted Absa Purchasing Managers’ Index (PMI) ended 2018 on a positive note, reaching the best level of the year – 50.7 – in December. This was an improvement from the 49.5 recorded in November. →

Global economic growth to slow to 2.9% this year – World Bank

By: Simone Liedtke 8th January 2019 Global economic growth is projected to soften from a downwardly revised 3% in 2018 to 2.9% this year amid rising downside risks to the outlook, the World Bank said on Tuesday. International trade and manufacturing activity have softened, trade tensions remain elevated, and some large emerging... →

World Bank CEO Kristalina Georgieva

US to counter China, Russia influence in Africa – Bolton

By: Reuters 14th December 2018 The United States plans to counter the rapidly expanding Chinese and Russian economic and political influence in Africa, US national security adviser John Bolton said on Thursday, calling business practices of the two nations "corrupt" and "predatory." Washington's No 1. priority will be... →

Enforcing local procurement rules would help offset weak demand

By: Terence Creamer 14th December 2018 Steel and Engineering Industries Federation of Southern Africa (Seifsa) wants government to take decisive action in 2019 to ensure that departments and State-owned companies (SoCs) honour their obligations to purchase designated steel products from domestic manufacturers. The organisation is also... →

Seifsa CEO Kaizer Nyatsumba reflects back on 2018 and offer insight into prospects for the metals and engineering sector n 2019. Camera Work & Editing: Nicholas Boyd

South Africa becomes fourth country to deposit instrument of TFTA ratification

By: Marleny Arnoldi 13th December 2018 The South African government has deposited its instrument of ratification of the agreement that establishes the Tripartite Free Trade Area (TFTA) on the margins of the African Union Ministers of Trade meeting that took place in Egypt from December 12 to 13. The deposit of the instrument... →

Sacci survey anticipates trade conditions remaining subdued for next six months

By: Marleny Arnoldi 12th December 2018 The South African Chamber of Commerce and Industry (Sacci) Trade Conditions Survey for November shows that activity remains subdued and is likely to remain subdued for the next six months. The survey stated that trade conditions remained negative, with the seasonally adjusted trade activity... →

Davies to launch revised business process services incentive scheme

By: Marleny Arnoldi 12th December 2018 Trade and Industry Minister Dr Rob Davies will, on Friday, launch the revised Global Business Process Services Incentive Scheme, while on a trip to London, in the UK. The launch of the revised incentive further supports and enhances South Africa’s value proposition, catalysing new investments... →

Africa key market for South African exports – Davies

By: African News Agency 12th December 2018 South African businesses should consider the continent an extremely important market, especially for trade in value added products, Trade and Industry Minister Dr Rob Davies has said. Launching the South African stand at the inaugural Intra-Africa Trade Fair (IATF) in Cairo, Egypt, Davies said... →

South Africa needs to prepare in case of ‘hard’ Brexit – NWU economist

By: Marleny Arnoldi 11th December 2018 North West University economist Professor Raymond Parsons says a “hard” Brexit is likely in March 2019 and that the UK may well crash out of the European Union (EU) without a withdrawal agreement. He laments that, with the decision by the UK government to delay the Parliamentary vote on the... →

Photo by Creamer Media
NWU economist Professor Raymond Parsons

Egypt aims to kickstart African trade as it takes AU chair

By: Reuters 10th December 2018 Egypt is promoting itself as a linchpin for intra-African trade and a model of economic reform as it prepares to chair the African Union in 2019. The country hosted a high-level business forum on Saturday and Sunday in the Red Sea resort of Sharm el-Sheikh that will be followed by an... →

China’s BRI translating its influence into trade, development and cultural engagements with global South

By: Schalk Burger 7th December 2018 The Belt and Road Initiative (BRI), which is an infrastructure development and integration initiative championed and mainly funded by China, has emerged as a conduit for translating China's growing influence into trade, development and cultural engagements and partnership with the global South.... →

Springs-based fuel cell SEZ approved

By: Nadine James 5th December 2018 The special economic zone (SEZ) for fuel cell development, proposed for development by the Gauteng Industrial Development Zone initiative and Impala Platinum (Implats), has been approved, Implats fuel cell coordinator Fahmida Smith told attendees at the International Partnership for Hydrogen and... →

South Africa’s Parliament approves agreement to establish AfCFTA

By: Marleny Arnoldi 5th December 2018 Trade and Industry Minister Dr Rob Davies has welcomed Parliament’s ratification of the agreement that establishes the African Continental Free Trade Area (AfCFTA). The AfCFTA was launched during an extraordinary summit of African Union (AU) Heads of State and government, in Kigali, Rwanda, on... →

Photo by Creamer Media
Trade and Industry Minister Dr Rob Davies

DST hosts hydrogen fuel cell technology conference

By: Nadine James 3rd December 2018 Global stakeholders in the multibillion-dollar fuel cell industry will meet in Pretoria this week for the thirtieth Steering Committee Meeting of the International Partnership for Hydrogen and Fuel Cells in the Economy (IPHE). The Department of Science and Technology (DST) will host the meeting... →

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