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Trade News

African govts putting regulations in place to make free trade pact a success – Ramaphosa

By: African News Agency      14th October 2019 African governments are putting regulations and mechanisms in place to ensure the success of a recently signed continental free trade area, including easing customs controls, developing regulations on the cross border movement of people, reforming taxation and intellectual property regimes and... 

UK seeks to be largest G7 investor in Africa

By: , Bloomberg     14th October 2019 The UK is working toward being the biggest investor in Africa among the Group of Seven nations, Trade Commissioner for Africa Emma Wade-Smith said as the country prepares to leave the European Union at the end of the month. The country in September signed a trade-continuity agreement with five... 

Dialogue to encourage foreign investment into S Africa

By: Cameron Mackay     11th October 2019 The Southern Africa Europe CEO Dialogue aims to assure European business leaders that South Africa is still ideal for investment, says multinational consulting group European House-Ambrosetti senior partner Paolo Borzatta. “When we started the Italy-South Africa summit six years ago, everyone... 

Dialogue to encourage foreign investment into S Africa
Photo by Bloomberg
GLOBAL ANXIETIES Uncertainty in the global economy – caused by events such as Brexit – is enabling Europe to establish new trade relationships worldwide, particularly in Africa

Small ships are next big thing for this $150bn market

By: , Bloomberg     9th October 2019 Giant ocean-going tankers built the liquefied natural gas (LNG) industry into a $150-billion-a-year business. The next expansion opportunity may come from ships a seventh of the normal size. Fifty-five years after the first commercial LNG tanker sailed from Algeria, this segment of the gas... 

Incoming top EU climate official pledges to tax polluting imports

By: Reuters     9th October 2019 The European Union (EU) will start work immediately on a tax on polluting foreign firms to shelter EU businesses striving to meet a goal to be climate neutral by 2050, the senior official set to take responsibility for climate in the new European Commission said on Tuesday. Frans Timmermans, who... 

Global value chain participation could offer boost for developing countries

By: Tasneem Bulbulia     8th October 2019 In an era of slowing trade and growth, developing countries can achieve better outcomes for their citizens through reforms that boost their participation in global value chains, a new World Bank Group report has found. These reforms can help these countries expand from commodity exports to basic... 

EU urged to copy China’s Belt and Road plan to engage in Africa

By: , Bloomberg     8th October 2019 The European Union (EU) is being urged to copy China’s Belt and Road Initiative to better channel the billions of euros in aid it sends to Africa each year. The proposal for a single institution to deal with all aid to the continent is part of a report on the bloc’s external lending strategy... 

EU urged to copy China’s Belt and Road plan to engage in Africa

Biggest global trade zone may boost South Africa, Ramaphosa says

By: , Bloomberg     7th October 2019 President Cyril Ramaphosa is hopeful an agreement that could see the continent become the world’s largest free-trade zone will boost the country’s sluggish economy. But the targeted start date is fast approaching and nations have yet to agree to any tariff concessions. The African Continental... 

Saudi Arabia aims to be global logistics hub

By: Kim Cloete     3rd October 2019 Saudi Arabia is moving ahead with certain megaprojects to diversify its economy and to position itself as a global logistics hub. The Governor of Saudi Arabia’s General Customs Authority Ahmed Alhakbani this week said the country was ramping up its customs services in line with the goals of Saudi... 

Sars intent on slashing invoicing fraud and improving services

By: Kim Cloete     2nd October 2019 The South African Revenue Services (Sars) is on a modernisation drive that aims to strip out invoicing fraud and streamline services, Sars Commissioner Edward Kieswetter has told the annual World Congress of the International Federation of Freight Forwarders’ Associations (Fiata), in Cape Town.... 

Sars intent on slashing invoicing fraud and improving services
Photo by Creamer Media's Dylan Slater
Sars Commissioner Edward Kieswetter

WTO slashes forecast for trade growth as conflicts mount

By: Reuters     1st October 2019 The World Trade Organization (WTO) cut its forecast for growth in global trade this year by more than half on Tuesday and said further rounds of tariffs and retaliation, a slowing economy and a disorderly Brexit could squeeze it even more. The WTO said it now expected global merchandise trade to... 

WTO slashes forecast for trade growth as conflicts mount
Photo by Reuters
WTO director-general Roberto Azevedo

Transnet reports dramatic rise in irregular expenditure to R49bn  

By: Terence Creamer     30th September 2019 State-owned freight logistics utility Transnet received yet another qualified audit for its 2018/19 financial year and also announced a dramatic rise in irregular expenditure to R49-billion, after locomotive contracts valued at R41.5-billion where added to the figure, which stood at R8-billion at... 

Transnet reports dramatic rise in irregular expenditure to R49bn
Transnet acting CEO Mohammed Mahomedy outlines the reason for the group receiving yet another qualified audit during the 2018/19 financial year, as well as the dramatic rise in irregular expenditure to R49-billion. Camerawork and editing: Darlene Creamer 30.9.2019

South Africa's trade balance swings to surplus in August

By: Reuters     30th September 2019 South Africa's trade balance swung to a R6.84-billion surplus in August after a revised R3.72-billion rand deficit in July, data from the revenue service showed on Monday. Exports rose 8.4% on a month-on-month basis to R122.02-billion in August, while imports were down 1% to R115.17-billion, the... 

DTIC hosts delegation to promote mining products in South America

By: Marleny Arnoldi     26th September 2019 The Department of Trade, Industry and Competition (DTIC) is leading a delegation of South African mining product and service providers on an outward selling mission (OSM) to Chile and Peru, in South America. The mission started on September 24 and will end on October 4.  

Cape Town companies sign export deals worth over R1.8bn, says MMC

By: African News Agency      23rd September 2019 Over R1.8-billion worth of export deals have been signed by Cape Town-based companies in the 2018/19 financial year, the city said on Sunday. "It is pleasing to note that Wesgro, the City of Cape Town’s international trade and investment promotion agency, has helped to facilitate over... 

International air freight, except in Africa and Latin America, being hit by trade wars

By: Rebecca Campbell     20th September 2019 The International Air Transport Association (IATA) has reported that the ongoing and deepening trade war between the US and China has continued to drive air freight demand down. Air cargo is measured in terms of freight (metric) ton kilometres (FTKs). (FTKs are the number of metric tons carried... 

Korea electricity utility offers knowledge and equipment to SA

By: Schalk Burger     20th September 2019 National utility Korea Electric Power Corporation (Kepco) stands ready to provide electricity and equipment services in South Africa as part of its goal of growing its export business, Kepco small and medium-sized enterprise (SME) and start-up VP Hwang Kwang-Soo says. The utility has experience... 

Integrating circular-economy approach to waste oil holds promise

By: Schalk Burger     20th September 2019 Moving towards a more circular economy - which is based on the principle of using, recycling, and reusing in an (almost) closed loop - could deliver opportunities including reduced pressures on the environment, enhanced security of supply of raw materials, increased competitiveness, innovation,... 

Poultry producers positive about engagement with Patel

By: Simone Liedtke     19th September 2019 Following a recent meeting with the Department of Trade, Industry and Competition and other stakeholders, the South African Poultry Association on Wednesday said it was feeling “positive” about the progress made in addressing the crisis threatening the industry. Trade and Industry Minister... 

Poultry producers positive about engagement with Patel

Sacci reports slight improvement in trade expectations

18th September 2019 Trade conditions improved marginally in August and expectations for the next six months suggest further improvement is likely, the South African Chamber of Commerce and Industry (Sacci) reports. Its latest Trade Activity Index (TAI), published on Wednesday, increased by two index points... 

Nigeria’s biggest tomato facility idle again as farmers dump crop

By: , Bloomberg     16th September 2019 Nigeria’s biggest tomato plant is counting on the government’s restriction of food imports to sustain operations after going idle again six months after it resumed operations from an almost three-year shut down. When Aliko Dangote, Africa’s richest man, decided to set up the plant, it was with... 

Nigeria’s biggest tomato facility idle again as farmers dump crop

4IR, AfCFTA to 'reshape' South African business, says Patel 

By: Simone Liedtke     13th September 2019 South Africa’s steel industry will need a Steel 4.0 plan to adequately harness and respond to the pressures presented by the Fourth Industrial Revolution (4IR), Trade and Industry Minister Ebrahim Patel said at the Metals and Engineering Indaba, in Sandton, on Friday. He explained that the... 

Freight challenges create import-export difficulties

By: Theresa Bhowan     13th September 2019 South Africa is facing many challenges, but those in freight logistics are among the most serious, says industry association South African Association of Freight Forwarders national maritime consultant Dave Watts. 

AfCFTA can assist South Africa in exporting goods to more African regions

By: Simone Liedtke     12th September 2019 While the African Continental Free Trade Agreement (AfCFTA) may provide African countries, including South Africa, with an opportunity to expand their manufacturing capabilities, Africa House director Duncan Bonnett has questioned if South Africa is ready to take advantage of the opportunities... 

AfCFTA can assist South Africa in exporting goods to more African regions
Photo by Creamer Media's Dylan Slater
Africa House director Duncan Bonnett

UK reaches post-Brexit deal with world’s oldest customs union

By: , Bloomberg     11th September 2019 The five members of the Southern African Customs Union (Sacu) and Mozambique have reached a deal with the UK to govern trade between them after Brexit. The new agreement mirrors the deal between those countries and the European Union and will come into effect if the UK leaves the bloc on October... 

SA concludes trade deal with UK in case of no-deal Brexit

By: News24Wire      11th September 2019 South Africa has concluded a new trade deal with the UK, which will kick in if Britain leaves the European Union without an trade agreement. The new agreement will be know as the SACUM-UK Economic Partnership Agreement and will effectively "rollover and replicate the terms of trade" that govern... 

 SA concludes trade deal with UK in case of no-deal Brexit

Lawlessness should be addressed through shared responsibility – business leaders, govt 

By: Simone Liedtke     9th September 2019 Following the recent spate of violence across South Africa, Police Minister Bheki Cele on Monday reiterated that government considered this form of behaviour to be “acts of criminality”. He added that government was not denying the undercurrent of anti-foreign national sentiment among those... 

Korea electricity utility offers knowledge and equipment to South Africa

By: Schalk Burger     6th September 2019 National utility Korea Electric Power Corporation (Kepco) stands ready to provide electricity and equipment services in South Africa as part of its goal of growing its export business, Kepco small and medium-sized enterprise (SME) and start-up VP Kwang-Soo Hwang said on Thursday. The utility has... 

Trade wars continue to hurt air freight, except in Africa and Latin America

By: Rebecca Campbell     6th September 2019 The International Air Transport Association (IATA) has reported that the ongoing and deepening trade war between the US and China has continued to drive air freight demand down. Air cargo is measured in terms of freight (metric) ton kilometres (FTKs). (FTKs are the number of metric tons carried... 

Trade wars continue to hurt air freight, except in Africa and Latin America
Photo by IATA
Alexandre de Juniac

Technology levels procurement playing field

By: Darren Parker     6th September 2019 As autonomous procurement develops, the playing field for negotiations becomes increasingly level, says strategic advisory firm Disrupting Consultancy CEO Ian Russell. With advancements in artificial intelligence (AI) and ever-deepening insights gained from greater access to information, the... 

Technology levels procurement playing field
IAN RUSSELL Machines tend to take bribes a lot less often than people do

Procurement profession needs regulation

By: Darren Parker     6th September 2019 The thirteenth yearly Smart Procurement World Indaba will be themed Courage and Urgency: Let’s Walk the Talk, and through its advocating for the professionalisation and regulation of procurement it aims to spur the procurement industry towards greater accountability. The indaba will take place... 

Procurement profession needs regulation
BUYING INTO A NEED FOR CHANGE The event aims to get policy-makers to enact stricter procurement regulation

Expo to prioritise strategic matchmaking

By: Darren Parker     6th September 2019 For the first time since its inception, the Smart Procurement World Indaba’s co-located Enterprise and Supplier Development Expo will implement a programme called Smart Exchange. The programme will provide a platform whereby buyers and sellers at the show will be prematched to increase mutually... 

Expo to prioritise strategic matchmaking
DEBBIE TAGG The expo aims to strategically foster mutually beneficial relationships

US, China trade war not helpful to global economy – Mboweni

By: African News Agency      2nd September 2019 The trade war between the US and China is not helping the global economy and will be in focus during this week's World Economic Forum on Africa, South Africa's finance minister Tito Mboweni said on Monday. South Africa will on September 4 to 6 host the forum in Cape Town which will, under the... 

US, China trade war not helpful to global economy – Mboweni
Finance Minister Tito Mboweni

Africa projects offer opportunities for investors, Ramaphosa tells Japan forum

By: African News Agency      28th August 2019 The recently launched African Continental Free Trade Area will require world class infrastructure and the continent is undertaking large, cross-border projects which will create new opportunities for investors as they are realised, South African President Cyril Ramaphosa said on Wednesday at the... 

Africa projects offer opportunities for investors, Ramaphosa tells Japan forum
President Cyril Ramaphosa

South Africa missing out on trade opportunities with Francophone Africa

By: Tasneem Bulbulia     27th August 2019 South Africa needs to improve its trade relationships with Francophone African countries, Africa House MD Liz Whitehouse said at the organisation’s Doing Business in Francophone Africa Workshop, held in Johannesburg, on Tuesday. There are 22 sub-Saharan African countries that have French as their... 

Global smartphone sales to remain weak this year

By: Simone Liedtke     27th August 2019 Global smartphone sales are set to remain weak for the rest of the year, with total sales to reach 1.5-billion smartphones, says research and advisory firm Gartner. Its forecast follows on the back of a 1.7% decline year-on-year in second-quarter sales to 368-million units. 

Steel tube association’s drive to open new export markets to receive boost

By: Simone Liedtke     26th August 2019 The Steel Tube Export Association of South Africa’s drive to open up more export markets for its members will receive a major boost when it participates in an outward selling mission (OSM) to Australia from September 1 to 7. The association’s CEO Keitumetse Moumakoe will be one of 25... 

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