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Trade News

Restructuring DTI to focus heavily on AfCFTA implementation  

By: Tasneem Bulbulia     12th July 2019 The departments of Trade and Industry, and Economic Development, which are merging to become the Department of Trade, Industry and Competition (DTIC), will focus on six areas over the next five years. For this year, the priority would be the African Continental Free Trade Area (AfCFTA), which... 

Africa needs to give priority to rules of origin for products – Unctad

By: Rebecca Campbell     12th July 2019 The United Nations Conference on Trade and Development (Unctad), in its recently released “Economic Development in Africa Report 2019”, called for the continent to give serious attention to the issue of Rules of Origin (RoO). RoO are the criteria which establish the nationality of a product, and... 

Ngqura port go-slow affecting South Africa's automotive production, citrus exports

By: Nadine James     11th July 2019 State-owned Transnet has suspended several employees at its Ngqura Container Terminal for engaging in an illegal industrial action which has had a negative impact on port operations. In a statement released on Thursday, Transnet stated that the illegal industrial action by employees had had a... 

Trade conditions still under pressure

By: Tasneem Bulbulia     10th July 2019 Trade conditions remained under pressure in June, the South African Chamber of Commerce and Industry’s (Sacci’s) Trade Conditions Survey shows. The Trade Activity Index (TAI) dipped by three index points to 38 in June, but the Trade Expectations Index (TEI) remained flat at 48 points. 

Iata meets with Zimbabwean government over blocked airline revenues

By: Rebecca Campbell     10th July 2019 A delegation from the International Air Transport Association (Iata) led by its director-general Alexandre de Juniac, met with Zimbabwean President Emmerson Mnangagwa and other high-ranking government officials on Tuesday to discuss major issues concerning the airline industry and Zimbabwe, and... 

Iata meets with Zimbabwean government over blocked airline revenues
Zimbabwean flag

Chicken import tariff increases will not solve industry problems – association

By: Marleny Arnoldi     10th July 2019 The Emerging Black Importers and Exports South Africa (Ebiesa) has called on government to stop an application launched by the South African Poultry Association (Sapa) to increase import tariffs on chicken to 82%. Ebiesa stated that Sapa’s rationale for seeking the tariff increases was that... 

African lender sees factories benefiting most from trade pact

By: , Bloomberg     10th July 2019 Africa’s free-trade pact will help shift the continent away from its over-reliance on volatile commodity exports and boost manufacturing, according to the African Development Bank. Sectors where African products already have a competitive advantage have the most to gain from the deal that joins... 

Afreximbank commits to extensive African Continental Free Trade Area support

By: Marleny Arnoldi     9th July 2019 The African Export-Import Bank (Afreximbank) has instituted a $1-billion adjustment facility to support the implementation of the Agreement for the African Continental Free Trade Area (AfCFTA). Afreximbank president Professor Benedict Oramah addressed delegates at the twelfth Extraordinary... 

Durban rail corridor to benefit most from addition of standard gauge track 

By: Irma Venter     9th July 2019 The freight corridor between Durban and Gauteng would benefit most from a standard gauge railway track being constructed next to the current narrow gauge track. The addition of the line would aid in the transport of mainly double-stacked containers, as well as various other commodities. 

Durban rail corridor to benefit most from addition of standard gauge track

AU landmark trade pact grows, as Benin, Nigeria join

By: , Bloomberg     7th July 2019 A landmark free-trade agreement removing most tariffs and other commercial barriers in the African continent grew to encompass 54 signatories, after Benin and Nigeria signed up to the accord on Sunday. Albert Muchanga, the African Union’s commissioner for trade and industry, announced Benin’s... 

Ramaphosa speaks out against using companies as pawns in trade wars

By: Natasha Odendaal     5th July 2019 South Africa President Cyril Ramaphosa on Friday slammed the use of private companies as pawns in trade disagreements between States. Speaking at the inaugural Digital Economy Summit, in Midrand, he reiterated South Africa’s support of telecommunications giant Huawei amid now-alleviated US... 

Aveng sells valve and pump manufacturing subsidiary to reduce debt

By: Nadine James     5th July 2019 Infrastructure and resources group Aveng will sell Aveng Dynamic Fluid Control (DFC) to 100% black-owned investment company Copaflo for R165-million. The sale will include the DFC operations in South Africa, Finland, the US, Brazil and Australia. 

Africa to decide on free-trade zone: what’s at stake?

By: Reuters     5th July 2019 African leaders will decide on Sunday which nation will host the headquarters for a continental free-trade zone that aims to eventually unite the continent's 1.27 billion people and its $3.4-trillion nominal gross domestic product. Leaders at the African Union summit in Niger will also set a date... 

Africa to decide on free-trade zone: what’s at stake?

EU steel sector braces amid onslaught

5th July 2019 Surging import volumes, stalling economic growth, high and volatile raw material costs and sharply growing carbon costs are coming together to form a perfect storm that could knock the European steel industry back into a period of severe crisis. 

World airline body’s regional head highlights benefits of and barriers to African aviation

By: Rebecca Campbell     5th July 2019 The importance, potential, and challenges facing commercial aviation in Africa were highlighted at the International Air Transport Association (IATA) Regional Aviation Forum, held late last month in Accra, Ghana. “Aviation is a key enabler for economic and social prosperity in Africa,”... 

Association to sponsor tubular category at steel awards

By: Mamaili Mamaila     5th July 2019 The Association of Steel Tube and Pipe Manufacturers (ASTPM) is the sponsor of the tubular category in the upcoming South African Steel Awards which will take place in October 2019. 

Association to sponsor tubular category at  steel awards
STEEL EXCELLENCE As the industry is currently under strain, the steel awards are a necessary and an enduring reminder for every participant to persist amid adversity

Nigeria will sign African free-trade pact at AU meeting in Niger

By: , Bloomberg     3rd July 2019 Nigeria will sign a continental free-trade deal at a extraordinary summit of the African Union this weekend, bringing the duty-free movement of goods in the region a step closer. The economy of Africa’s most-populous nation vies with South Africa to be the continent’s biggest and signing up... 

Working visit to G20 Summit in Japan successful, says Ramaphosa

By: African News Agency      30th June 2019 President Cyril Ramaphosa has described his working visit to Japan for the G20 Summit as a success and congratulated Japan on hosting a well-organised summit, the presidency said on Sunday. Ramaphosa on Sunday concluded the two-day working visit to Osaka in Japan, where he led the South African... 

South Africa posts R1.74bn trade surplus in May

By: Reuters     28th June 2019 South Africa recorded a R1.74-billion trade surplus in May after a revised R3.53-billion deficit in April, data from the revenue service showed on Friday. Exports rose 8.1% on a month-on-month basis to R112.1-billion rand in May, while imports climbed 3% to R110.3-billion, the South African... 

Nigeria’s Buhari says made-in-africa key to success of free-trade deal

By: , Bloomberg     28th June 2019 he success of a continental free-trade deal hinges on Africa developing its manufacturing base, Nigerian President Muhammadu Buhari said. Africa’s largest economy won’t rush into joining the Africa Continental Free Trade Area until it finishes extensive consultations with all stakeholders, Buhari... 

Hose company supplies sector amid challenges

By: Mamaili Mamaila     28th June 2019 Although hoses manufacturer Astore Keymak supplies 80% of its hoses to the local mining industry, business development director Malindi Nkambule says there are a number of challenges – in the main cheap imports and rising input costs such as raw materials and labour. 

Hose company supplies sector amid challenges
HIGH STANDARDS As more people in the fire industry become aware and educated about local hoses standards and stricter specifications, Astore will continue to see more growth in that regard

Improving SA’s Doing Business ranking requires acceleration of reforms

By: Nadine James     28th June 2019 During his State of the Nation Address in February, President Cyril Ramaphosa stated that “the World Bank’s annual Doing Business Report (DBR) currently ranks South Africa 82 out of 190 countries . . . we have set ourselves the target of being among the top 50 global performers within the next... 

Improving SA’s Doing Business ranking requires acceleration of reforms

Morocco's Tangier port to become Mediterranean's largest

By: Reuters     27th June 2019 Morocco will open new terminals at Tanger Med port on Thursday, allowing it to surpass the Mediterranean's largest ports Algeciras and Valencia in terms of container capacity, and drive more investment and manufacturing to the country. Tanger Med, the biggest port in Africa with an annual volume... 

UN agency calls on Africa to give priority to Rules of Origin for products

By: Rebecca Campbell     26th June 2019 The United Nations Conference on Trade and Development (Unctad) released its “Economic Development in Africa Report 2019” on Wednesday, calling for the continent to give serious attention to the issue of Rules of Origin (RoO). RoO are the criteria which establish the nationality of a product, and... 

African nations join majority in opposing US blockage at WTO 

By: Reuters     26th June 2019 African countries have joined the list of nations wanting an end to a US veto on judicial appointments at the World Trade Organization (WTO), a statement showed on Wednesday, meaning a large majority of WTO member States now openly oppose the US position. The US is blocking new appointments... 

AfCFTA, collaboration key to increasing trade in Africa – panel 

By: Simone Liedtke     25th June 2019 The African Continental Free Trade Area plays a role in increasing intra-African trade, but Kenyan ambassador to South Africa Jean Kamau told delegates attending the Manufacturing Indaba, on Tuesday, that negotiations and collaboration between countries and the private sector were key to... 

AfCFTA, collaboration key to increasing trade in Africa – panel
Photo by Creamer Media's Dylan Slater
Kenyan Ambassador to South Africa Jean Kamau

Airline body regional head highlights importance of aviation to Africa’s development

By: Rebecca Campbell     25th June 2019 The importance and potential of, and challenges facing, commercial aviation in Africa were highlighted at the International Air Transport Association (Iata) Regional Aviation Forum, in Accra, Ghana, on Monday. “Aviation is a key enabler for economic and social prosperity in Africa,” highlighted... 

South Africa, China sign deals that signify ‘deepening economic relationship’ 

By: Simone Liedtke     24th June 2019 The signing of 93 economic and trade cooperation agreements between South African and Chinese entrepreneurs signifies a deepening of the economic relationship between the respective countries, newly appointed Trade and Industry Minister Ebrahim Patel said in a statement. The statement was issued... 

South Africa, China sign deals that signify ‘deepening economic relationship’
Trade and Industry Minister Ebrahim Patel handing peppadews to Chinese Assistant Minister of Commerce Ren Hongbin and Ambassador Lin Songtian as part of promoting Proudly SA products

US official outlines conditions for enticing more US firms to Africa 

By: Terence Creamer     21st June 2019 US Assistant Secretary of State for African Affairs Tibor Nagy believes there is a window of opportunity for South Africa to attract direct investment from American firms that are currently seeking outlets for billions of dollars in capital, accumulated as a result of strong economic conditions... 

US official outlines conditions for enticing more US firms to Africa

Standard Bank launches Africa China Agent Proposition in South Africa

By: Tasneem Bulbulia     21st June 2019 Standard Bank on Friday launched its Africa China Agent Proposition (ACAP), which connects African importers and Chinese exporters and facilitates trade financing and payments and collections that support Africa–China trade flow, in South Africa.     

SA urged to home in on green-hydrogen export niche

By: Schalk Burger     21st June 2019 The technology to produce green hydrogen, which is produced by electrolysing water using renewable energy, in South Africa is becoming cost-effective enough to develop the capacity to sell the product in local and international industrial markets, says technical advisory services firm Kambuku... 

Trade figures at record high

By: Mc'Kyla Nortje     21st June 2019 In recent years, trade figures between South Africa and Germany have been at a record high with a trade volume of more than €17-billion last year, says Southern Africa German Chamber of Commerce and Industry (SAGCCI) CEO Matthias Boddenberg. He adds that there is a positive development of exports... 

Trade figures at record high
TRAIN THE TRAINER SAGCCI currently offers the AdA “Train the Trainer” apprenticeship that is accredited by the German Foreign Chambers of Commerce and the Southern Africa German Chamber of Commerce and Industry

Tambo Springs project an 'exciting experience', says Italian Railways 

By: Irma Venter     20th June 2019 Italian Railways senior VP Nino Cingolani expects the consortium appointed as the preferred bidder in the Tambo Springs Intermodal Terminal project to sign the 20-year concession agreement with Transnet Freight Rail by the end of the year. The consortium, announced earlier this month, is led by... 

Tambo Springs project an 'exciting experience', says Italian Railways

Nigeria to consider its industries in Africa free trade zone decision

By: Reuters     20th June 2019 Nigeria will consider the interests of its industries in deciding whether to sign up to a $3-trillion Africa free-trade agreement, President Muhammadu Buhari said in a meeting with local manufacturers on Wednesday. The African Continental Free Trade Agreement (AfCFTA) encompasses 1.2-billion... 

Aspen Pharmacare exec stresses need to include private sector in Iora

By: Shirley le Guern     18th June 2019 The Indian Ocean Rim Association (Iora) conference, held in Durban on June 17 and 18, presented an opportunity to reconfigure the conference from what has” largely been a talk shop” to “something that will make sense to business people”, Aspen Pharmacare senior executive Dr Stavros Nicolaou said.... 

Indian Ocean Rim economies urged to increase trade with each other

By: Shirley le Guern     18th June 2019 It is time to re-energise the Indian Ocean Rim Association (Iora), created by Nelson Mandela in 1997, and transform it into an active body that unlocks tangible business opportunities and helps negotiate the removal of disruptive nontariff barriers between the 22 member States. This was the... 

AMIE calls on government to lead formulation of a national poultry strategy

By: Tasneem Bulbulia     14th June 2019 The right of South Africans to access a prime source of dietary protein must outweigh the factional interests of sectors of the poultry producing industry, the Association of Meat Importers and Exporters (AMIE) said on Friday, when it called on government to arbitrate in the brewing tariff battle... 

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