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Articles by Sam Smith
tralac Daily News
News Projects worth N$28 billion on the horizon; value of potential investments now at N$203 billion – NIPDB (New Era) The Namibia Investment Promotion and Development Board (NIPDB), says projects with a combined value of N$28 billion are now classified as capital deployed. This means investors for the projects have started acquiring land and assets to bring these projects to fruition.
tralac Daily News
News SA’s digital platform economy has R91bn potential (ITWeb) South Africa’s digital platform economy – a sector which includes online platforms that facilitate financial transactions − could add R91.4 billion to the country’s economy by 2035. However, regulations need to evolve in line with this emerging sector. This is one of the key findings of a report released today by Naspers and the Mapungubwe Institute for Strategic Reflection, exploring the untapped potential of this market.
tralac Daily News
News the dtic Commits to Increasing and Diversifying Exports to Boost Domestic Growth (The Department of Trade Industry and Competition) The Deputy Minister of Trade, Industry and Competition, Mr Andrew Whitfield says the department will increase its efforts in promoting exports in order to boost the country’s economic growth. Whitfield was speaking at the Eastern Cape Export Symposium in East London.
tralac Daily News
News Trade restrictions on Brazilian poultry after case of Newcastle disease deals heavy financial blow to South Africa (The Mail & Guardian) Glaring mismanagement and inconsistent trade policies are creating a disaster for South African businesses and consumers following the blanket ban on poultry from the entire Brazilian state of Rio Grande do Sul due to a single case of Newcastle disease.
tralac Daily News
News Big fight with South Africa’s largest trade partner set in stone (BusinessTech) Following meetings with the World Trade Organisation’s (WTO) dispute settlement body, South Africa is set for a major fight for access to the European Union (EU) market for its citrus fruit exports.
tralac Daily News
News Agriculture records $1.47bn trade surplus in the second quarter (Engineering News) South Africa’s agriculture exports decreased by 0.1% year-on-year in the second quarter of the year to $3.37-billion. This followed a 6% year-on-year growth rate in the first quarter of the year. The decrease in the second quarter, relative to the second quarter of last year, reflects the moderation in the prices of some agriculture products and a decline in volumes.
tralac Daily News
News New study evaluates potential for nitrogen interventions to combat climate change (Engineering News) An international research team has combined multidisciplinary methods to evaluate how nitrogen interventions could improve air quality and reduce nitrogen deposition.
tralac Daily News
News Shippers Council partners with AfCFTA to Enhance Trade, Economic Development (Voice of Nigeria) The Nigerian Shippers Council, NSC, is partnering with the Africa Continental Free Trade Area, AfCFTA, for efficient trade and economic growth and development of Nigeria.
tralac Daily News
News Declining trade surplus spurs call for supply chain resilience (Food For Mzansi) The declining trade surplus in South Africa, which has decreased from R20 billion to R14 billion in recent years, underscores several systemic challenges that the country faces. These challenges have their roots in a complex mix of logistical, infrastructural, production, and global market issues.
tralac Daily News
News Over-subsidisation compensating for industrial policy failures, economist says (Engineering News) Trade and Industrial Policy Strategies (TIPS) senior economist Nokwanda Maseko has complained that the State is overcompensating and providing too many subsidies to make up for industrial policy’s failures in offering opportunities to women in key industries.
tralac Daily News
News South Africa must focus on export competitiveness – Mavuso (Engineering News) South Africa must develop industrial policies that build the international competitiveness of its export industries, including by enabling small businesses that could be exporting much more, particularly to neighbouring countries and particularly in services exports, says business organisation Business Leadership South Africa (BLSA) CEO Busi Mavuso.
tralac Daily News
News South Africa to impose VAT on low-value parcels to help clothing industry compete (MyJoyOnline) Importers of low-value parcels destined for South Africa will soon pay value added tax, the country’s tax authority said, as an interim measure to protect a clothing industry facing fierce competition from international e-commerce players such as Shein. The move follows other countries, including the European Union, which is discussing abolishing its duty-free limit as part of a customs reform.
tralac Daily News
News Cabinet questions EU citrus restrictions as South Africa moves ahead with formal WTO dispute (Engineering News) Cabinet has questioned the imposition by the European Union (EU) of what it describes as “stringent” restrictions on South Africa’s citrus exports, which are now the subject of a formal dispute initiated at the World Trade Organisation (WTO).
tralac Daily News
News South Africa Can Fix Backlogged Ports in a Year, Minister Says (Bloomberg) South Africa‘s ports — ranked among the world’s worst — are improving and State-owned operator Transnet will fix them within the next 12 to 14 months, Minister in the Presidency Khumbudzo Ntshavheni said. An energy crisis and the collapse of rail, ports and other infrastructure — exacerbated by years of poor governance — have hamstrung Africa‘s most industrialized economy.
tralac Daily News
News Poor social development threatens South Africa’s economic sustainability, report shows (Engineering News) Persistently high youth unemployment rates and some of the highest levels of inequality globally have led financial institution Rand Merchant Bank (RMB) to rank South Africa twenty-ninth out of 31 African countries in terms of social and human development in its ‘Where to invest in Africa 2024’ report, which was released on August 6.
tralac Daily News
News TNPA christens two newly built launch boats (Engineering News) Transnet National Ports Authority (TNPA) has christened two new launch boats, built by the Sandock Austral Shipyards (SAS) in Durban, and destined for the Port of Cape Town. This is part of TNPA’s move to fast-track its operational efficiency. This acquisition forms part of the TNPA Marine Fleet Renewal programme, which is aimed at improving shipping efficiencies at South African ports by increasing marine craft availability.
tralac Daily News
News South African import probes targeting China prompt call for free-trade zone (South China Morning Post) China and South Africa should establish a free-trade zone “as soon as possible”, a Renmin University academic has suggested as Beijing has been the top target of the country’s anti-dumping actions.
tralac Daily News
News Unlocking South Africa’s Potential: Leveraging Trade for Inclusive Growth and Resilience (World Bank) International trade can be a powerful force for economic growth and poverty reduction. This report pdf Unlocking South Africa’s Potential: Leveraging Trade for Inclusive Growth and Resilience (2.81 MB) synthesizes analytical work carried over the last four years.
tralac Daily News
News Trade Statistics for June 2024 (South African Revenue Service) South Africa recorded a preliminary trade balance surplus of R24.2 billion in June 2024. This surplus was attributable to exports of R172.0 billion and imports of R147.7 billion, inclusive of trade with Botswana, Eswatini, Lesotho and Namibia (BELN).
tralac Daily News
News Consolidated Media Briefing on AGOA Forum and BRICS Trade Ministers Meetings (the dtic) This press briefing is convened to present some of the major outcomes emanating from the two international engagements that we, as the dtic family, have participated in recently, namely: the 21st African Growth and Opportunity Act (AGOA) Forum in Washington, DC and the 14th BRICS+ Trade Ministers Meeting in Moscow, Russia.
tralac Daily News
News Minister Tau concludes a successful visit to the United States (the dtic) The Minister of Trade, Industry and Competition, Parks Tau concludes a successful visit to the United States. The Minister was accompanied by a high-level delegation comprising the Deputy Minister of Trade, Industry and Competition, Andrew Whitfield, government officials, private sector and organised labour.
tralac Daily News
News Dispute panels established to review EU measures on imports of South African citrus fruit (WTO) South Africa submitted its second requests for two panels in disputes it initiated concerning European Union regulations governing the importation of citrus fruits which impact imports from South Africa. The measures in question concern import restrictions imposed by the EU to control spread of the insect Thaumatotibia leucotreta, or False Codling Moth, and the fungus P.
tralac Daily News
News Tackling payment challenges in South Africa’s trade industry through innovative payment solutions (ITWeb Africa) Ola Oyetayo, CEO of Verto, says despite the trade industry’s critical nature for the prosperity of the country, illicit dealings in South Africa’s import and export sector have resulted in economic losses of as much as R100 billion annually, and R250 million every day in terms of lost tax revenue “From smuggling and the misdeclaration of goods to under-invoicing to evade...
tralac Daily News
News Minerals Council South Africa supports beneficiation where the economics make sense (Engineering News) Minerals Council South Africa, whose members account for 90% of this country’s yearly mineral production by value, supports beneficiation where the economics make sense. “Therefore, we welcome the call for a more conducive policy environment for beneficiation processes,” Minerals Council CEO Mzila Mthenjane stated in a media release to Mining Weekly.
2024 AGOA Forum: Resource page
News 24 Jul 2024Topic NewsGlobal trade governance The 21st U.S.–sub-Saharan Africa Trade and Economic Cooperation Forum (AGOA Forum) is being hosted by Ambassador Katherine Tai in Washington, D.C. from 24-26 July 2024.
tralac Daily News
News PCC, WWF welcome signing into law of Climate Change Bill (Engineering News) The Presidency has announced that President Cyril Ramaphosa has signed into law the Climate Change Bill, which sets out a national climate change response, including mitigation and adaptation actions, and also constitutes South Africa’s fair contribution to the global climate change response.
tralac Daily News
News SA committed to meeting climate change undertakings (SAnews) Forestry, Fisheries and the Environment Minister, Dr Dion George, has assured of South Africa’s commitment to meeting its undertakings under the United Nations Framework Convention on Climate Change (UNFCCC) and its Paris Agreement. George said South Africa is working on its second Nationally Determined Contribution, and the country has also committed to updating and submitting its first Biennial Transparency Report.
The ‘AGOA Renewal and Improvement Act of 2024’: Key features, proposed changes, and implications
Trade Briefs 22 Jul 2024Eckart Naumann In November 2023, following the conclusion of the annual AGOA Forum in South Africa, US Senator Chris Coons (Democrat - Delaware) circulated a first discussion draft of legislation to extend the term of the African Growth and Opportunity Act (AGOA) beyond its current sunset clause in 2025, and to modify several provisions.
tralac Daily News
News Opening of Parliament Address by President Cyril Ramaphosa at the Cape Town City Hall, Western Cape, 18 July 2024 (DIRCO) “As the Government of National Unity, we are resolved to intensify our investment drive, encouraging and enabling businesses to invest in productive capacity. These investments will lead to increased employment creation for unemployed South Africans especially for young people.
tralac Daily News
News South Africa: African Development Bank approves ZAR 18.85 billion ($1 billion) corporate loan for Transnet’s business recovery plan (AfDB) The African Development Bank Group has approved a ZAR 18.85 billion ($1 billion) corporate loan to Transnet, South Africa’s major freight transport and logistics company, for its recovery and growth plans. The 25-year loan approved by the Bank Group’s Board of Directors on Friday, 12 July 2024, is fully guaranteed by the government of South Africa.
tralac Daily News
News Media Statement: Trade, Industry and Competition Committee Adopts Budget Vote Report (Parliament of the Republic of South Africa) The Department of Trade, Industry and Competition (DTIC), led by Minister Parks Tau and Deputy Ministers Zuko Godlimpi and Andrew Whitfield appeared before the Portfolio Committee in Parliament recently to present the department’s annual performance (APP) and budget for the 2024/25 financial year, in line with the 2019 – 2024 Medium-Term Strategic Framework...
Key Sectors Crucial for Industrialisation in Algeria, Egypt and Mauritania
Trade Briefs This Trade Update focuses on Algeria, Egypt and Mauritania’s (AEM) industrialisation approach and highlights key sectors and drivers of these countries’ industrialisation efforts. These AEM countries have, in recent years, increasingly focused on Africa’s regional integration initiatives and are all active participants in the Africa under the African Continental Free Trade Area (AfCFTA) negotiations.
An analysis of Algeria, Egypt and Mauritania’s (AEM) export performance and export similarity within the AfCFTA
Trade Briefs Login Register Please enter the email address for your account. A verification code will be sent to you. Once you have received the verification code, you will be able to choose a new password for your account. Enter your email, and we will send your username you signed up with. Registration to the tralac website is required to download publications.
tralac Daily News
News BREAKING: Nigeria Begins Trading On AfCFTA, Eyes $50bn AfCFTA Benefits, Promises Unwavering Support for Businesses (Shipping Position Daily) The Federal Government has reaffirmed its dedication to ensuring that Nigerian businesses, both small and large, will benefit from the $50 billion African Continental Free Trade Area (AfCFTA).President Bola Tinubu made this announcement on Tuesday during the launch of the Guided Trade Initiative under AfCFTA.
tralac Daily News
News South Africa aims for zero emissions by 2050 (SAnews) President Cyril Ramaphosa says South Africa aims to reach net zero carbon emissions by 2050. Speaking at the Climate Resilience Symposium underway at the Council for Scientific and Industrial Research (CSIR) International Convention Centre in Pretoria, President Ramaphosa said the revised Nationally Determined Contribution balances the country’s developmental needs and economic realities.
tralac Daily News
News Stats SA budget reinforces commitment to country development (SAnews) Minister in the Presidency Khumbudzo Ntshavheni says as government commences with the work of the seventh administration and the next 30 Years of Freedom, it is important to address the challenges that still confront the country with greater performance and momentum.
tralac Daily News
News SA needs to refocus G20 on main global issues – Kganyago (IOL) South African Reserve Bank (SARB) Governor Lesetja Kganyago has lamented the extension of the G20 working groups without necessarily dealing with the main agenda for which the bloc was created.
tralac Daily News
News SA grapples with AGOA compliance concerns (Farmer’s Weekly) The African Growth and Opportunity Act (AGOA) has been a cornerstone of economic relations between the US and sub-Saharan Africa for over two decades. However, as conversations swirl about a potential extension of the agreement, South Africa finds itself at a crossroads with compliance concerns.
tralac Daily News
News Unpacking South Africa’s trade priorities under GNU (CNBC Africa) South Africa’s Ministry of Trade, Industry, and Competition is undergoing a significant transition as the ruling African National Congress and the Democratic Alliance, the country’s second-largest party, come together in a government of national unity.
tralac Daily News
News Functional transport sector is key to a successful economy (SAnews) Transport Minister Barbara Creecy says an efficient and functioning transport sector is key to a successful economy. “Our roads and rail network are the arteries of our nation, [they] should move people and goods safely, speedily and affordably across the length and breadth of South Africa and facilitate our connectivity with the African continent and the wider world,” Creecy said on Monday.
Are Critical Minerals Export Bans an Effective Tool for Achieving Diversification in Africa?
Trade Briefs Login Register Please enter the email address for your account. A verification code will be sent to you. Once you have received the verification code, you will be able to choose a new password for your account. Enter your email, and we will send your username you signed up with. Registration to the tralac website is required to download publications.
Gender-Inclusive Climate-Backed Financing: Empowering Women through Value Chain Development and Industrialisation in Africa
Trade Briefs 08 Jul 2024Gavin van der Nest Login Register Please enter the email address for your account. A verification code will be sent to you. Once you have received the verification code, you will be able to choose a new password for your account. Enter your email, and we will send your username you signed up with. Registration to the tralac website is required to download publications.
tralac Daily News
News South Africa strikes US deal to export table grapes (Freight News) Prosper Africa has announced the United States-Africa Trade Desk (USATD)’s first $56 million trade deal for 700 containers of South African-grown table grapes to be imported to the US. The US-Africa Trade Desk is a joint venture between Prosper Africa and Afritex Ventures, whose mandate is to bridge the gap between African agricultural suppliers and US buyers.
tralac Daily News
News SAA to add 64% new destinations as it rebuilds (Engineering News) South African Airways (SAA) plans to add 64% new destinations from its hub in Johannesburg by the end of April as it rebuilds its business to focus on regional and international routes after a deal with an investor collapsed.
tralac Daily News
News TotalEnergies plans to exit South African offshore gas finds (Engineering News) TotalEnergies plans to exit its discoveries of gas-condensate off the tip of South Africa to prioritize exploration in other areas closer to Namibia, according to people familiar with the matter.
tralac Daily News
News IATA urges South Africa to prioritise country’s aviation sector (Engineering News) The global representative body for the airline industry, the International Air Transport Association (IATA), on Tuesday called on the new South African Government to continue to prioritise aviation sector development in the country, as a key impetus for economic growth and job creation.
tralac Daily News
News South Africa achieves first primary budget surplus in 15 years (Engineering News) South Africa achieved its first primary budget surplus in 15 years as it took a stern approach to funding State-owned companies that have drained government finances.
tralac Daily News
News S.Africa says cases against EU citrus measures progressing at WTO (The Star) South Africa expects the World Trade Organisation to set up adjudication panels in July to examine its two cases against the European Union over its phytosanitary measures for citrus imports, the country said on Wednesday. The world’s second largest citrus exporter after Spain is challenging changes made in 2022 to the EU’s phytosanitary requirements for oranges and other citrus products.
tralac Daily News
News U.S.-Africa Trade Desk Secures $56 Million South African Table Grape Deal, Benefiting US Consumers and Boosting US-Africa Trade (Prosper Africa) Prosper Africa is proud to announce the United States – Africa Trade Desk (USATD)’s first $56M trade deal for 700 containers (1,260,000 crates) of South African-grown table grapes to the U.S. The U.S.-Africa Trade Desk is a joint venture between Prosper Africa and Afritex Ventures, whose mandate is to bridge the gap between African agricultural...
tralac Daily News
News South Africa seeks panel reviews of EU measures affecting imports of citrus fruit (WTO) South Africa has requested the establishment of two dispute panels to review European Union measures affecting the import of South African citrus fruit into the EU. The measures in question concern import restrictions imposed by the EU to control spread of the insect Thaumatotibia leucotreta, or False Codling Moth, and the fungus P.
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