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Trade News

Davies to follow up on Saudi Arabia’s $10bn investment pledge

By: Simone Liedtke     1st October 2018 Trade and Industry Minister Dr Rob Davies will, this week, co-chair the eighth session of the South Africa-Saudi Arabia Joint Economic Commission (JEC), in Saudi Arabia, while simultaneously following up on Saudi Arabia’s $10-billion investment pledge to South Africa. This session of the JEC will... 

Trade balance swings to R8.79bn surplus in August

By: Reuters     28th September 2018 South Africa's trade balance swung to a surplus of R8.79-billion ($619-million) in August from a revised R5.29-billion deficit in July, data from the revenue agency showed on Friday. Exports rose by 9.4% on a month-on-month basis to R116.88-billion in August, while imports fell by 3.6% to... 

WTO cuts world merchandise trade forecasts for 2018 and 2019

By: Reuters     27th September 2018 World trade growth is likely to be slower than previously thought in 2018 and 2019, although the direct economic effects of a trade war that has blown up this year have been modest so far, the World Trade Organization (WTO) said on Thursday. The WTO forecast world trade in goods would grow by... 

Trafigura Group helps re-establish historic African trade route

By: Tasneem Bulbulia     26th September 2018 Independent commodity trading group Trafigura has successfully taken the first step towards reopening one of Africa’s most historic trade routes, with a train journey that ended in the Angolan port of Lobito on Saturday, September 22. A cargo of 800 t of copper blister, bought by Trafigura from... 

Ascendis launches new strategic focus, announces positive FY18 results 

By: Nadine James     25th September 2018 JSE-listed pharmaceutical company Ascendis Health on Tuesday announced a new strategic focus prioritising pharmaceutical and consumer healthcare. The company, which also reported on its results for the financial year ended June 30, plans to divest its biosciences businesses. 

Ascendis launches new strategic focus, announces positive FY18 results
CEO Thomas Thomsen discussing the company's new strategy and the need for divestment. Video and editing: Nicholas Boyd

Angola, IFC court South African investors

By: Nadine James     21st September 2018 World Bank Group executive director for Angola, Nigeria and South Africa Bongiwe Kunene says a roundtable event taking place on September 24, will enable South African businesses and investors to explore the growth opportunities in Angola created as a result of the 2017 election of that country’s... 

August trade conditions remained negative – Sacci

By: Schalk Burger     19th September 2018 The South African Chamber of Commerce and Industry’s (Sacci’s) August Trade Conditions Survey shows that present trade conditions and prospects remain tight and in negative territory, the chamber said in a statement on Wednesday. Trade expectations for the next six months, as reflected by the... 

Poultry industry takes on US chicken quota as court case brews

By: News24Wire      17th September 2018 The South African Poultry Association (SAPA) wants government to review the quota of US poultry imports, following the imposition of tariffs on local aluminium and steel products. In court papers filed in the North Gauteng Court, the organisation argues that US tariffs on SA steel and aluminium... 

 Poultry industry takes on US chicken quota as court case brews

Importance of export councils recognised, emphasised

14th September 2018 Export councils are key drivers for South Africa’s economic transformation and they should be supported and prioritised, according to Department of Trade and Industry (DTI) deputy director-general Lerato Mataboge. This is in line with the South African Capital Equipment Export Council’s... 

Importance of export councils recognised, emphasised
LERATO MATABOGE As government, we need to look at our efficiencies in so far as how we are structured, and the support that is provided to export councils and vice versa

South Africa deal flow to continue upward trend this year – Savca

By: Simone Liedtke     13th September 2018 The South African venture capital industry exceeded the R1-billion mark for the first time in 2017 – investing R1.16-billion, the Southern Africa Venture Capital and Private Equity Association’s (Savca’s) ‘2018 Venture Capital Industry Survey’ reveals. The annual publication highlights start-up... 

Sygnia shares start trading on A2X

By: Simone Liedtke     13th September 2018 Investment management company Sygnia’s shares began trading on South African stock exchange A2X on Thursday, with the company becoming the eleventh issuer to secondary list on the exchange. Sygnia, which is based in South Africa, retains its primary listing on the JSE. 

EU's Juncker eyes Africa free trade pact

By: Reuters     12th September 2018 The European Union (EU) should offer a free trade agreement to the whole of the African continent and a new investment alliance, European Commission President Jean-Claude Juncker said in a keynote speech on Wednesday. Among various proposals for EU action to bolster prosperity in the world's... 

EU's Juncker eyes Africa free trade pact
Photo by Bloomberg
European Commission President Jean-Claude Juncker

Davies to attend G20 meeting

By: African News Agency      11th September 2018 South Africa's trade and industry minister Rob Davies will attend a meeting with peers from the G20 global grouping in Argentina set to focus on the agriculture sector, his department said on Tuesday. The G20 or Group of Twenty is an international forum for the governments of Argentina,... 

Davies to attend G20 meeting
Photo by Reuters
Trade & Industry Minister Rob Davies

Afrox achieves double-digit HEPS growth amid subdued economic environment 

By: Simone Liedtke     10th September 2018 Despite low economic growth in the six months to June 30, JSE-listed African Oxygen (Afrox) achieved double-digit growth in its headline earnings per share (HEPS) to 104c, representing an increase of 11.5% from the HEPS of 93.3c recorded for the six months to June 30, 2017. Referring to the... 

Afrox achieves double-digit HEPS growth amid subdued economic environment
African Oxygen (Afrox) MD Schalk Venter speaks to Engineering News Online about the company’s interim results, and upcoming investment plans. Video & Editing: Darlene Creamer

African rail industry urged to adopt concepts of Fourth Industrial Revolution

By: Nadine James     4th September 2018 The African rail industry must adopt the concepts and develop the technologies of the Fourth Industrial Revolution to facilitate, and realise, the industrialisation aspirations of the continent, delegates attending a South African Heavy Haul Association (SAHHA) technical workshop, on Tuesday,... 

China's Xi offers another $60bn to Africa, but says no to 'vanity' projects

By: Reuters     3rd September 2018 Chinese President Xi Jinping offered another $60-billion in financing for Africa on Monday and said Chinese companies will be encouraged to invest no less than $10-billion over the next three years, but he also warned against "vanity projects". Speaking at the opening of a major summit with... 

China's Xi offers another $60bn to Africa, but says no to 'vanity' projects
Chinese President Xi Jinping

President Ramaphosa jetting off to China for State visit and multilateral summit

By: Rebecca Campbell     31st August 2018 South African President Cyril Ramaphosa departs for Beijing on Friday for both a State visit to China and to co-Chair the 2018 Forum on China-Africa Cooperation (FOCAC), which will take place immediately afterwards. The State visit will take place on September 2 and FOCAC will be held on... 

South Africa's trade balance swings to deficit in July

By: Reuters     31st August 2018 South Africa's trade balance swung to a deficit of R4.66-billion ($317-million) in July from a revised R11.89-billion surplus in June, data from the revenue agency showed on Friday. Exports fell by 2.7% on a month-on-month basis to R107.07-billion in July, while imports increased by 13.8% to... 

South African winemakers look to Peru for growth

By: Marleny Arnoldi     30th August 2018 Wine producer La Ric Mal owner and winemaker Malcolm Green and other wine producers from four South African provinces will travel to Lima, Peru, this weekend, with the aim of expanding the market for South African wines. This expedition forms part of the Trade and Investment Mission organised and... 

South African winemakers look to Peru for growth

South African farmers play chicken with Trump tariffs

By: Reuters     29th August 2018 Herman Pretorius is just the kind of white South African farmer US President Donald Trump expressed concern for when he barged into the country's delicate land reform debate by ordering an investigation into the "large-scale killing of farmers". But for the greying, bespectacled 58-year-old,... 

Britain supports South African land reform – PM May 

By: Reuters     28th August 2018 Britain supports South Africa's land reform programme provided it is carried out legally, Prime Minister Theresa May said in Cape Town on Tuesday, adding that she would discuss the issue with President Cyril Ramaphosa. "The UK has for some time now supported land reform. Land reform that is... 

Britain supports South African land reform – PM May
Photo by Reuters
British Prime Minister Theresa May

Ford produces 500 000th Ranger in South Africa

By: Schalk Burger     24th August 2018 Ford Motor Company of Southern Africa’s (FMCSA’s) Silverton assembly plant, in Pretoria, has produced its 500 000th Ford Ranger. “The current Ford Ranger has been a remarkable success story for FMCSA, and we are delighted to have reached the 500 000 mark for this vehicle programme,” says Ford... 

Ford produces 500 000th Ranger in South Africa
FORD RANGER The company invested R3-billion in 2011 and another R3-billion in 2017 to meet worldwide demand for the Ranger

US poultry industry to urge retaliation if South Africa ends quota

By: Reuters     22nd August 2018 The United States poultry industry will press its government to retaliate if South Africa suspends a quota that excludes some US imports from an anti-dumping tariff, the head of a poultry trade group said. The South African Poultry Association (SAPA) has filed a lawsuit seeking to force the... 

Poultry group seeks to suspend US import quota

By: Reuters     21st August 2018 The South African Poultry Association (SAPA) has filed a legal action to force the government to suspend a quota that excluded imports of US poultry from South Africa's anti-dumping tariff, a senior official with the association said on Tuesday. The decision by SAPA was a response to the Trump... 

EESE welcomes imminent BBBEE scheme listings

By: Simone Liedtke     21st August 2018 Equity Express Securities Exchange (EESE) on Tuesday welcomed the planned listings of the MultiChoice and Media24 broad-based black economic empowerment (BBBEE) schemes, Phuthuma Nathi and Welkom Yizani, in October. These listings will include Phuthuma Nathi Investments, Phuthuma Nathi... 

EESE welcomes imminent BBBEE scheme listings
Equity Express Securities Exchange (EESE) CEO Anthony Wilmot

Proudly South African launches online shopping site in boost for Buy Local campaign

By: Marleny Arnoldi     21st August 2018 Proudly South African (Proudly SA) and RSA Made on Tuesday launched an online shopping site, www.rsamade.co.za, which sells only locally made items. The site forms part of Proudly SA’s Buy Local advocacy campaign, and looks to grow Proudly SA’s members’ share of the burgeoning market that is... 

Mint Directors Conference to reach South African shores in 2020

By: Simone Liedtke     20th August 2018 The biennial Mint Directors Conference (MDC) will return to South African shores in 2020, says South African Reserve Bank (SARB) subsidiary, the South African (SA) Mint. The event, which is expected to attract more than 300 guests, will be held in both Cape Town and Pretoria, in April 2020. 

Mint Directors Conference to reach South African shores in 2020
The baton was passed on to the South African Mint by the Korea Minting and Security Printing & ID Card Operating Corporation (Komsco), which hosted the conference this year in Seoul

New Asia market manager appointed for South African wines body

By: Schalk Burger     17th August 2018 Winemaker industry body Wines of South Africa (WoSA) has appointed Marcus Ford as its new Asia market manager, effective August 20. He will be based in Shanghai, China, and responsible for running all marketing activities throughout mainland China, Hong Kong and Japan, the organisation said on... 

Dachser South Africa driving excellence in road freight services

17th August 2018 According to logistics company Dachser South Africa road freight in Africa can be a challenging undertaking. Therefore, transporting goods and services throughout the continent requires a network of support partners, a team that has up-to-date information on multi-country customs and border... 

Dachser South Africa driving excellence in  road freight services
STRATEGIC GOAL Dachser South Africa’s aim is to ensure that logistics is tailored to meet clients’ specific requirements

New regulation increases interest in local industry

By: Melissa Zisengwe     17th August 2018 The logistics industry will be boosted by the New Customs Acts Programme (NCAP), which was formally introduced this year, says working capital specialists Investec Import Solutions customs manager Dylan Govender. The South African Revenue Service (Sars) describes the NCAP as a safe, enabling,... 

New regulation increases interest in local industry
NEW REGULATION Companies are now required to declare their cargo conveyed to South Africa 24 hours prior to transportation

Tiger Brands’ shares fall on lower FY18 earnings expectations

By: Simone Liedtke     16th August 2018 JSE-listed Tiger Brands’ share price fell by nearly 9.8% on Thursday morning after it announced that its earnings per share (EPS) and headline earnings per share (HEPS) for the financial year to end September 30 are likely to decrease by 22% to 37% year-on-year. It reported EPS of R19.15 and HEPS... 

Davies endorses Itac’s recommendation of increase in sugar import duties

By: Simone Liedtke     15th August 2018 Trade and Industry Minister Dr Rob Davies has endorsed the International Trade Administration Commission of South Africa’s (Itac’s) recommendation for an increase in import duties on sugar to $680/t. While the level is not at the maximum bound rate, as initially requested by the industry in the... 

Trade prospects deteriorate further in July – Sacci

By: Marleny Arnoldi     15th August 2018 Trade prospects have deteriorated further in July, from the already negative outlook in June, the South African Chamber of Commerce and Industry (Sacci) reported on Wednesday, following the release of its latest Trade Conditions Survey. Trade expectations for the next six months, as reflected... 

Ford produces milestone 500 000 Rangers in South Africa

By: Schalk Burger     14th August 2018 Ford Motor Company of Southern Africa’s (FMCSA’s) Silverton assembly plant, in Pretoria, has produced its 500 000th Ford Ranger. “The current Ford Ranger has been a remarkable success story for FMCSA, and we are delighted to have reached the 500 000 mark for this vehicle programme,” Ford Middle... 

Ford produces milestone 500 000 Rangers in South Africa
FORD RANGER 2017

R12m solar PV plant to be installed at Liberty Midlands Mall

By: Nadine James     8th August 2018 Liberty Two Degrees (L2D), in partnership with Liberty Group, on Wednesday announced the first solar photovoltaic (PV) installation at the Liberty Midlands Mall, in Pietermaritzburg. This solar PV plant is being commissioned on the roof of the mall’s 22 000 m2 Phase 3 extension, which was... 

Davies gazettes draft regulations on SEZs

By: Nadine James     7th August 2018 Trade and Industry Minister Dr Rob Davies has gazetted draft regulations on the Governance and Composition of the Special Economic Zones (SEZs) The proposed regulations seek to provide for the following options – for the management and operation of the industrial development zone (IDZ) entity not... 

Davies gazettes draft regulations on SEZs
Trade and Industry Minister Dr Rob Davies

DA proposes free trade, cost and regulatory reductions to stimulate manufacturing

By: Schalk Burger     7th August 2018 Political party, the Democratic Alliance (DA), on Tuesday proposed increased free trade and reducing regulatory burdens and energy costs to stimulate manufacturing in South Africa. In its policy proposal, ‘Manufacturing a new economic future’, the party states that “an effective trade policy... 

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