Browsing: South Africa

President Cyril Ramaphosa has arrived in Biarritz, France to take part in the G7 Summit that is focused on the elimination of inequalities of various kinds globally, the presidency said on Sunday.

The G7 comprises France, Germany, Italy, Japan, the United States, the United Kingdom, and Canada, whose government leaders meet annually to discuss important global economic, political, social, and security issues.

President Ramaphosa was invited to this year’s G7 Summit by the host, President Emmanuel Macron of France. The summit is structured into three tracks: G7 and Africa Partnership co-opting South Africa, Rwanda, Egypt, Burkina Faso, Senegal, and the chair of the African Union Commission; the G7 and four Biarritz Partners which are South Africa, India, Australia, and Chile; then the G7 and all partners.

“The working visit will also provide a platform for President Ramaphosa and members of Cabinet to invite global partners to experience South Africa as …

Emerging liquefied natural gas and helium producer, Renergen, on Wednesday said it had signed a US $40 million loan agreement with the Overseas Private Investment Corporation (OPIC) for a gas project in the Free State province.

Renergen’s principal asset is its 90 per cent shareholding in Tetra4, which holds the first and only onshore petroleum production right in South Africa, giving it a first-mover advantage on the distribution of domestic natural gas.

OPIC is the United States government’s development finance institution that mobilizes private capital to help solve critical development challenges and advances the foreign policy of the United States and national security objectives.

Renergen said this loan would provide access to the capital required to construct the first phase of the Virginia gas project.

It also said this was a major endorsement of the project by the US government, and the increasing importance of securing helium, with significant supply …

South Africa’s trade and industry deputy minister Nomalungelo Gina and Tunisian secretary of state for foreign affairs Sabri Bachtoji have committed to strengthening bilateral economic relations in order to increase trade and investment between their two countries, the government said on Wednesday.

During a meeting in Pretoria, the two emphasised the need to establish a framework and create a conducive environment for the two countries’ business communities to work together.

“Our countries have enjoyed historically strong political ties but it is incumbent upon us to strengthen our economic ties and increase economic cooperation between our countries,” Bachtoji said.

“As the government, we need to work together in setting up a framework and creating an environment that will encourage our business communities to explore the economic opportunities that are available in both countries.”

He said a number of sectors in the Tunisian economy were teeming with opportunities that South African companies …

One million Africans are set to benefit from emerging digital training organized by the United Africa Blockchain Association (UABA). UABA, a non-profit organization based in South Africa is committed to promoting the adoption of blockchain technology in Africa.

According to the announcement, UABA plans to use a Train the Trainer model through boot camps and hackathons to reach out blockchain and crypto community in African. These exercises are scheduled to start in September 2019 and will target mainly women and youths.

The sessions will initially be held on a weekly basis in Johannesburg, South Africa. The organizers also plan to set up this training in Cape Town. Eventually, UABA plans to partner up with other organizations to help expand this training to other African countries such as Malawi, Zambia, Zimbabwe, Ethiopia, Kenya, Nigeria, Tanzania, and Ghana.

The training will take two main parts. The first part is dubbed as …

Allied Wallet Africa, a global FinTech company offering various payment solutions in 196 countries, recently announced a new office in Angola, to support the growing opportunities for African entrepreneurs and business owners.

Millions of people are eager to engage in online commerce but lack proper support and functionality. South Africa has the largest e-commerce market in the continent with Nigeria and Kenya following closely, and people of the region are eager to trade and transact in the new digital space.

“Africa deserves the opportunity to participate in e-commerce, they deserve advancement,” said Allied Wallet Africa CEO Andy Khawaja, “We are happy to be chosen for this opportunity. We are dedicated to helping these entrepreneurs and creating new opportunities in the region.”

Allied Wallet Africa will bring new, ‘open API’ online payment solutions along with mobile payment options, digital wallet solutions, and even solutions catered to utility and payroll functions. …

The Eastern and Southern African Trade and Development Bank (TDB) and the Korean Overseas Infrastructure & Urban Development Corporation (KIND), have signed a memorandum of understanding to cooperate on infrastructure financing in the region.

KIND is a newly established organization by the Korean Government to proactively support global public-private partnerships and infrastructure and urban development for sustainable growth in emerging markets, with the Africa office headquartered in Nairobi.

KIND President and CEO Kyong-goo Hur noted that since the world is facing drastic climate changes and rapid urbanization today, the need for infrastructure investment is emerging greater than ever with the gap between infrastructure demand and supply hardly to be filled in the near future.

“The highest priority, therefore, has been attached to infrastructure investment not only in Korea but also in other numerous countries on this globe,” President Kyong-goo added.

Furthermore, KIND is now ready to serve as a facilitator …

The International Wines and Spirits Record (IWSR), notes that whisky consumption in Kenya grew by a compound annual growth rate (CAGR) of 21.7% in the five years 2013 to 2018. This is expected to grow by another 18.8% in the next four years to 2023.

But whatever is registering a greater notice among the elite Kenyan communities is the growth of aged brands with some Kenyans even requesting for a 72-year-old whisky. This has been categorized as a small group of consumers in the region who have a special taste on premium beverages as well a disposable income allowing populations to have high-end brands during leisure.

Macallan, a premium brand brewed since 1824 has been identified as the global leader in terms of value for whisky in its category.

In October 2018, a bottle of Macallan 60-Year-Old scotch whisky set a record when it sold at auction for $1.1 million. …

The Bill proposes a big brother-like real-time monitoring system using the Communications Authority of Kenya (CA).…

Pan-African financier that exclusively supports the development of the housing and real estate sector in Africa, Shelter Afrique, has urge governments to establish a housing microfinance fund to improve access to housing finance by those in the lower end of the market.

Speaking at the Affordable Housing Investment Summit in Nairobi recently, Shelter Afrique’s Chief Executive Officer Andrew Chimphondah said most policies had an exclusive urban focus, and non-consideration of the low-income groups and the rural areas.

According to Shelter Afrique, establishment of such a fund would make it easier to facilitate efficient and inclusive housing market systems and make affordable housing a reality across Africa.

Currently, 90 per cent of Africans cannot afford to buy a house or qualify for a mortgage.

READ ALSO:AfDB to inject more millions to support affordable housing in Africa

“Access to adequate housing for low-income earners is a critical development issue globally and …