Thursday, March 28

South Africa

XI Jinping in South Africa China state visit in South Africa
  • Heads of State from China, Brazil, and India, except Russia will attend the 15th BRICS summit in Johannesburg South Africa, starting August 22.
  • President Vladimir Putin will participate in the summit virtually but will be represented in Johannesburg by Foreign Minister Sergei Lavrov.
  • The bloc is also expected to discuss how to boost local currency fundraising and lending within the New Development Bank.

The five nations, Brazil, Russia, India, China and South Africa (BRICS) are now a band of economies showcasing their ambition to maximize their emerging economies potential, across geopolitics axis. In one day time, heads of state from China, Brazil, and India, (except Russia) will attend the 15th BRICS summit in Johannesburg South Africa from August 22-24.

South African President Cyril Ramaphosa, Chinese President Xi Jinping, Brazil’s President Luiz Inacio Lula da Silva and Indian Prime Minister Narendra Modi are expected to discuss a number of items as …

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View of the table mountain in Cape Town.
  • A new $273,716 Growth for Jobs Tourism Challenge Fund seeks to grow South Africa’s tourism numbers by engaging SMEs.
  • The fund will support regional and local tourism organisations, industry associations, and district and local authorities
  • The target SMEs are expected to grow and expand their tourism product offerings.

South Africa has lined up a $273,716 fund to empower small businesses in the tourism sector to enhance their offerings. The $273,716 Growth for Jobs Tourism Challenge Fund will grow South Africa’s tourism numbers through local small businesses. 

Minister of Finance and Economic Opportunities Mireille Wenger said the fund will power the sector’s future growth by removing barriers. 

“Our tourism and hospitality sector was hit hard by the COVID pandemic. But, it has seen a remarkable recovery with international arrivals reaching 100 percent of their 2019 figures in February this year,” she noted. 

Wenger added that this would be achieved by helping

Mining of precious metals
  • South Africa has adopted a number of measures aimed at boosting the country’s critical mineral industry.
  • In January 2023, mining production experienced its twelfth consecutive month-to-month decline, recording a decrease of 1.9 per cent.
  • According to the Minister of Mineral Resources and Energy Gwede Mantashe, the industry needs to advance a commitment to working together as stakeholders on the reconstruction and recovery of the mining industry. 

    South Africa’s vast reserves of critical minerals present a huge opportunity for the country to accelerate economic growth and boost employment creation, while ensuring the energy transition is just and inclusive.

    Statistics South Africa recently released its key findings for the fourth quarter of 2022, wherein the real Gross Domestic Product (GDP) decreased by 1.3 per cent. According to the report, the mining and quarrying industry decreased by 3.2 per cent and thus contributed -0.1 per cent to the GDP growth.

    Key to

Smart Africa and the Annual Investment Meeting dirve digital transformation in Africa. www.theexchange.africa
  • Smart Africa represents over 815 million people and more than 40 Private Sector members committed to Africa’s vision and advancement.
  • The Annual Investment Meeting (AIM) tops in platforms offering a powerful and flexible combination of virtual and live environments in the world.
  • The International Telecommunication Union reports that an increase of 10 per cent of broadband connectivity results in an increase in the GDP per capita by 2.5 per cent.

Smart Africa and the United Arab Emirates’ Annual Investment Meeting (AIM) have reached a Memorandum of Understanding to stimulate Africa’s digital transformation investment.

The signed partnership opens an avenue for Smart Africa and AIM to collaborate on future core events to promote dialogue that will create progressive development agenda.

Who is Smart Africa?

Smart Africa is an association created by the head of States in Africa, global organisations and international private sectors that target revolutionising Africa’s digital platform.

A scrap metal yard. South Africa’s energy sector is suffering from vandalism by scrap metal dealers. www.theexchange.africa

According to the Business Wire report of 2021, South Africa generates up to 108 million tonnes of annual waste, about 90 per cent of this which ends up in landfills. The problem is that landfills are projected to be full in a few years to come.

The national waste management strategy gazette by the government in 2020 gives a clear direction on how to acquire raw products for metal products and how to even trade the final products.

The producer’s responsibility scheme hold the manufacturers responsible for their products and packaging to the end of their life cycle.…

Solar Power Africa event is set for 16 to 18 February 2022. www.theexchange.africa

The South African solar photovoltaic (PV) market is increasing exponentially.

Solar Power Market outlook expects the solar market to register a CAGR of over 10 per cent from 2021 – 2026, reaching an installed capacity of more than 3.6 GW by 2026, up from 1.48 GW in 2019.

Solar power production in South Africa comes when the country is aligning to reduce carbon emissions through a transition from coal to other clean energy sources. This step is not an easy fit.…

The JSE. www.theexchange.africa

Ratings agency pronouncements are important in that they determine the financial standing of a country in the markets. When a country has unfavourable ratings, it will find it difficult to borrow without paying high-interest rates.

Conversely, favourable ratings indicate a much more stable credit proposition which will enable a borrower to access funding at concessionary rates.

South Africa has received funding to the tune of tens of billions of Rand from developed countries. This financial package has been to assist the country in reducing its reliance on fossil fuels for its energy. The country received this money immediately after the COP 26 conference last year.…

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Capitec Founder Michiel le Roux. www.theexchange.africa

These prospective customer circumstances have provided the proverbial “ace” which Capitec has played very successfully during its 21 years of existence.

Capitec’s success is attributable largely to the leadership of one man Stassen and the support of his team. Stassen for his part is not a traditional banker, he was during his time at the helm of the bank an even more unconventional CEO.

In his own words, he is non-hierarchical, consultative, and often informal in his approach. By his own admission, he is not a natural reader but said that he learns a lot from observation… Typically the average chief executive is said to read at least 52 books a year… but then Stassen was not an average CEO.…

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The company, founded in 2012, launched its online food ordering platform in 2013. In 2015, it launched its on-demand fast-food delivery app, becoming the first in South Africa to offer this service.

However, in 2020, Orderin officially shut down its consumer business. The brand relaunched last year as a B2B service, following successful projects helping other businesses develop their own delivery services.

The firm has provided delivery services for the likes of McDonalds and Pick n Pay.…

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