Browsing: South Africa

Africa escaped the global decline in foreign direct investment (FDI) as flows to the continent rose to US$46 billion in 2018, an increase of 11% on the previous year, according to UNCTAD’s World Investment Report 2019.

Growing demand for some commodities and a corresponding rise in their prices as well as the growth in non-resource-seeking investment in a few economies underpinned the rise.

While FDI in some large economies on the continent – such as Nigeria and Egypt – contracted, this was outweighed by a surge in flows to others, most significantly, South Africa.

“The African Continental Free Trade Area (AfCFTA) agreement will bolster regional cooperation. This, along with upbeat growth prospects, augurs well for FDI flows to the continent,” UNCTAD Secretary-General Mukhisa Kituyi said.

FDI flows to Sub-Saharan Africa climbed by 13% to $32 billion, recovering ground after successive contractions in the two prior years. Southern Africa saw …

For Africa’s tech scene to truly thrive in the 21st century, it needs to quickly develop local digital skills and expertise.…

South Africa’s Tourism Minister Derek Hanekom met with representatives of global online accommodation booking platform Airbnb to discuss various policy issues, in particular, the regulation of short-term home rentals, the department said on Friday.

The meeting took place in the context of the current call for public comment on the Tourism Amendment Bill, published on April 15, to provide stakeholders an opportunity to make submissions.

The Tourism Amended Draft Bill aims, amongst others, to address the regulatory vacuum on short-term rentals by defining short-term home rentals as “the renting or leasing on a temporary basis, for reward, of a dwelling or a part thereof, to a visitor”.

It also seeks to enable the minister of tourism to determine thresholds regarding short-term home rentals, through a notice in the Government Gazette, according to the department.

“The Amendment Draft Bill in its current form proposes that the minister of tourism be empowered …

The United Association of South Africa (Uasa) on Friday night celebrated 125 years of involvement in the labour market with an event in Muldersdrift, just outside Johannesburg.

“Uasa elected leaders also signed a pledge to always put Uasa members first by operating only on the mandates issued by members in a transparent and honest manner,” Uasa spokesman Stanford Mazhindu said on Saturday.

Uasa celebrated its achievements over the past one and a quarter century while at the same time looking ahead to envisage how, as a trade union, it could remain relevant in a constantly changing world.

“When a group of 16 engine drivers met on a Saturday evening, 7 July 1894, to form the Transvaal Engine Drivers Association, they had no idea that we would still celebrate the existence of this proud organisation in 2019, albeit under a different name,” he said.

Over the years, the organisation grew and …

A group of 25 South African business people was in high spirits ahead of their departure to Kampala, Uganda, to explore trade and investment opportunities in the agro-processing, capital equipment, energy and furniture sectors in the East African country.

This is according to the Department of Trade and Industry (dti) who said in a statement on Friday that the delegation will participate in the Outward Trade and Investment Mission to Kampala from 19-24 May.

According to the Minister of Trade and Industry, Dr. Rob Davies, the main objective of the mission is to increase bilateral trade and investment between South Africa and Uganda.

“The mission will also introduce South African exporters to the Ugandan market with the aim of assisting them to gain entry into this market, identify trade and investment opportunities, and generate export sales. It will also contribute positively in strengthening bilateral economic relations between South Africa,” said …

Blockchain Association of Africa (BAA), a South Africa based non-profit pan-African organisation, announced its strategic partnership with Afriplains Digital, Tanzania(AFD) and  Blockchain Worx, Singapore (BCW) to leverage synergies and further its efforts to equip the community and stakeholders in Africa with hands-on Blockchain education, acumen and tools to shape Africa’s future.

The partnership will focus on the common vision of driving technology evangelization, community outreach, capacity building and local talent building.

This will be targeted towards driving adoption, helping the implementation of this cutting-edge technology and bringing sustainable, unparalleled business-value to Africa. As a part of the alliance, the three parties will kick-off their collaboration by deploying Blockchain Worx’s Blockchain Innovation Centre across local chapters in South Africa, Uganda, Rwanda & Tanzania.

The Blockchain Innovation Centre is a digital centre of excellence, designed to explore possibilities, forge alliances and accelerate innovation within institutions and communities.…

Another case of African Swine Fever (ASF) has been reported this month in the Heilbron area in the Free State province, the Agriculture, Forestry and Fisheries Ministry revealed on Monday.

In a statement spokesperson, Khaye Nkwanyana, said: “This follows outbreaks in April 2019 in the North West, Mpumalanga and Gauteng provinces.

“All four outbreaks occurred outside of the ASF controlled area of South Africa and have been reported to the World Organisation for Animal Health.

“The affected areas have been placed under quarantine and provincial veterinary services are applying the necessary disease control measures.”

Nkwanyana said veterinary services together with the industry were conducting follow-up investigations to trace the origin of the disease and to identify other farms that may possibly be affected.

In order to prevent the spread of ASF, the ministry has warned pig buyers to, “make sure you buy pigs only from reputable owners, and insist on …

Chinese multinational telecommunications giant Huawei said on Monday that it had partnered with 48 local developers of mobile apps, and was still looking for more, in a drive to promote South African digital talent on its mobile app store.

Huawei Mobile Services was launched in South Africa in June last year. Since then, both the mobile app store Huawei AppGallery and Huawei Themes have become increasingly popular with the local market.

Lu Geng, director of Huawei consumer cloud service for southern Africa region, said 48 developers have recently registered their apps with Huawei following a Developers’ Day where Huawei executives met with South African developers to discuss Huawei’s offering.

“South African consumers are increasingly wanting more apps that are relevant to their unique circumstances, addressing issues they experience regularly – such as load shedding or safety concerns – but also apps that celebrate South Africa’s multitude of cultures and this …

Afrexim Bank is providing a USD 500 million financing facility to fund power transmission, infrastructure and agricultural projects. …

The Southern African Clothing and Textile Workers’ Union (SACTWU) has welcomed the announcement by Swedish global retailer H&M that it will be collaborating with South African designer, Palesa Mokubung, and her label, Mantsho.

On Tuesday, H&M announced its first African collaboration with Mokubung’s label, which was established in 2004 and has since graced numerous runways in Greece, India, the United States, Jamaica, Nigeria, Botswana and Senegal.

Until now, none of the products sold in H&M’s 23 local stores has been made in South Africa.

SACTWU said in a statement that it was a long-standing supporter of Mokubung’s work, citing how the Mantsho label was featured as far back as at its 2008 Fashion Festival held in the cutting room of the Levi Strauss SA factory in Cape Town.

Andre Kriel, SACTWU general secretary, said the union and its clothing, textile, footwear and leather (CTFL) members were looking forward to seeing …