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Trade News

Reserve Bank warns carbon taxes may cut exports by 10%

By: Bloomberg     Updated 1 hour 11 minutes ago South African economic growth could be severely stunted if carbon taxes are widely imposed on its exports, according to a new report by the country’s central bank. The South African Reserve Bank (SARB) said the hit could reach 10% of exports and more than 9% of gross domestic product in 2050... 

Itac makes strides in investigation of active yeast dumping from Zim

By: Marleny Arnoldi     15th May 2024 The International Trade Administration Commission (Itac) has asked the South African Reserve Bank to impose provisional duties on imports of active yeast originating in or imported from Zimbabwe for six months while further investigation into allegations of dumping is under way. Itac has been... 

instant dry yeast

South Africa must create a business-friendly environment to attract foreign investment

By: Tasneem Bulbulia     13th May 2024 Business organisation Business Leadership South Africa CEO Busiswe Mavuso writes in her latest weekly newsletter that the withdrawal of foreign investment seems to be “dominating” at present. She avers that while foreign investment in South Africa hinges on many factors, including global... 

An image of Business Leadership South Africa CEO Busiswe Mavuso
Business Leadership South Africa CEO Busiswe Mavuso

Organisers expect record attendance at event

By: Halima Frost     10th May 2024 With ballooning foot traffic, demonstrated by an increase in attendance of 81% from 2022 to 2023, the organisers of this year’s Enlit Africa anticipate a “bumper event that will be attended by global dignitaries and industry leaders”. The Enlit Africa 2024 will be held at the Cape Town... 

A man standing on a podium at last years Enlit Africa Event
TAKING TO THE FUTURE This years Enlit Africa theme – Less Talk, More Action – aims to encourage attendees and speakers to move away from talk in favour of action and implementatio

South African companies struggling to keep pace with e-commerce growth

By: Sabrina Jardim     9th May 2024 While the cost of doing business is increasing, as companies grapple with ad hoc systems, legacy technology, skills gaps and poor infrastructure, global e-commerce companies with a “wealth of know-how” are rapidly intensifying competition. Hence, the influx of best-in-class global players into... 

Accenture sales and commerce lead Africa Mushambi Mutuma.
Accenture sales and commerce lead Africa Mushambi Mutuma.

TPT to continue to invest in Durban Pier 2 while legal spat over private partner plays out 

By: Terence Creamer     8th May 2024 South Africa’s Transnet Port Terminals (TPT) says it will continue to invest in Durban Container Terminal (DCT) Pier 2 while legal proceedings around its selection of International Container Terminal Services (ICTSI), of the Philippines, for a 25-year partnership at what is South Africa’s largest... 

Port of Durban container operations
Port of Durban container operations

South Africa appoints new Honorary Consul in the UK to promote trade

By: Rebecca Campbell     8th May 2024 South Africa has appointed a new Honorary Consul in the UK, it was announced on Wednesday. An Honorary Consul serves to promote South African exports to the country (or a specific region within a country) in which he or she is based, act as contact person for visiting South African... 

High Commissioner Jeremiah Nyamane Mamabolo (left) and Honorary Consul Bassim Haidar (right) in the East of England port of Felixstowe
Photo by Department of International Relations and Cooperation
High Commissioner Jeremiah Nyamane Mamabolo (left) and Honorary Consul Bassim Haidar (right) in the East of England port of Felixstowe

DTPC launches Dube TradeZone 2, attracts R1.8bn in private investment

By: Sabrina Jardim     6th May 2024 KwaZulu-Natal provincial entity Dube TradePort Corporation (DTPC) has launched its Dube TradeZone 2 – the second phase of the industrial precinct and special economic zone (SEZ) adjacent to the King Shaka International Airport. Dube TradeZone 2 has, to date, attracted R1.8-billion in... 

Poulos Ngcobo - Dube TradePort deputy board chairperson;  Pearl Bhengu - iThala Development Finance Corporation; Siboniso Duma - KZN MEC for Economic Development, Tourism and Environmental Affairs; Mpumelelo Zikalala - Dube TradePort board chairperson; Hamish Erskine - Dube TradePort CEO; and Khanyisani Shandu - Trade and Investment KZN board chairperson
Poulos Ngcobo - Dube TradePort deputy board chairperson; Pearl Bhengu - iThala Development Finance Corporation; Siboniso Duma - KZN MEC for Economic Development, Tourism and Environmental Affairs; Mpumelelo Zikalala - Dube TradePort board chairperson; Hamish Erskine - Dube TradePort CEO; and Khanyisani Shandu - Trade and Investment KZN board chairperson

TFR ramps up coal trains to 28 a week

By: Darren Parker     3rd May 2024 State-owned Transnet Freight Rail (TFR) has embarked on a ramp up of GF-class coal trains from 21 a week to 28 a week, supported by an injection of locomotives. This is part of Transnet’s recovery plan initiatives, and a commitment made to the City of uMhlathuze leadership and other stakeholders... 

Coal train

Enhanced regulation, law enforcement needed to combat scrap metal theft 

By: Darren Parker     3rd May 2024 Enhanced regulation and enforcement are needed to address the challenges of scrap metal theft in South Africa and potentially lift the ban on scrap metal exports, research and advisory firm Birguid analyst Noquele Dube says. She explains that the scrap metal industry contributes R15-billion to... 

scrap metal

Saudi, Johannesburg stock exchanges partner to advance new instruments, market access

By: Marleny Arnoldi     3rd May 2024 The JSE has signed a memorandum of understanding (MoU) with Saudi Tadawul Group (STG), aimed at enhancing financial market collaboration and bolstering economic ties between South Africa and Saudi Arabia. The agreement serves as a catalyst for growth, innovation and technological advancement in... 

Saudi Tadawul Group CEO Khalid Alhussan and JSE group CEO Leila Fourie
Saudi Tadawul Group CEO Khalid Alhussan and JSE group CEO Leila Fourie

Short-term insurance product extended to SMMEs

By: Simone Liedtke     3rd May 2024 The State-owned Export Credit Insurance Corporation of South Africa (ECIC) has significantly expanded its mandate to support manufacturing projects, with a notable enhancement through the establishment of the Export Passport Insurance Facility. This initiative underscores the ECIC’s commitment to... 

NTOMBIFUTHI MDLULI
These projects collectively contribute to employment
NTOMBIFUTHI MDLULI These projects collectively contribute to employment

Transnet volumes, revenue up, but falls short of recovery targets

By: Darren Parker     26th April 2024 State-owned Transnet has reported a 1.5% year-on-year improvement in the total rail volumes reaching 151.7-million tonnes at the end of March 2024, showcasing improvement in operational performance. However, this figure still fell 1.8% short of Transnet’s recovery plan target of 154.4-million... 

Transnet freight train

Can South Africa turn around 30 years of real economy underperformance?

By: Terence Creamer     26th April 2024 In this essay, Terence Creamer reflects on the factors that have shaped South Africa’s real-economy sectors of manufacturing, mining and agriculture over the past 30 years and considers ways to end the economy’s persistent underperformance 

Magazine cover image

Tribunal approves Vitol’s buyout of Engen 

By: Darren Parker     25th April 2024 The Competition Tribunal has approved the proposed acquisition of petrol station brand Engen by independent energy marketing and trading company Vitol Emerald, subject to a set of competition and public interest conditions.   The tribunal’s order follows a hearing last month during which it heard... 

Typical Engen garage

Creativity, innovation keep South Africa’s mining tech manufacturing industry competitive 

By: Darren Parker     25th April 2024 An admirable degree of creativity exists within the South African mining technology and equipment manufacturing sector, giving manufacturers the necessary flexibility to weather the significant challenges over the past few years, Mining Equipment Manufacturers of South Africa CEO Lehlohonolo... 

Panellists who participated in the webinar are (from left) Mining Equipment Manufacturers of South Africa CEO Lehlohonolo Molloyi, Multotec CEO Thomas Holtz, Simera Trace technical director Kevin O'Neill, Epiroc digital solutions buisness line manager Vikesh Chiba and South African Capital Equipment Export Council CEO Eric Bruggeman.
Showcasing innovation in mining and mining services

Nelson Mandela University-led consortium to develop green hydrogen feasibility study

By: Darren Parker     22nd April 2024 A consortium led by Nelson Mandela University and boutique consultancy firm Ikigai Group has won a UK Government grant under the South Africa-UK Partnering for Accelerated Climate Transitions (Pact) programme to deliver an innovative feasibility study to explore the viability of green hydrogen... 

Green hydrogen symbol on a tank

South Africa evades US censure even as it builds links to rivals 

By: Bloomberg     22nd April 2024 South Africa is playing all sides when it comes to foreign policy as the country seeks to position itself as a leading voice of the Global South, and the approach seems to be working — so far. The Brics group of developing nations held its annual summit in South Africa last year and the Group of... 

President Cyril Ramaphosa
President Cyril Ramaphosa

Mini-substations, transformers supplied to DRC

19th April 2024 With its experience in Africa and its agility in executing projects rapidly, electrical equipment supplier Trafo Power Solutions is supplying three mini-substations and two transformers to a copper/zinc mine in the Democratic Republic of Congo (DRC). Trafo Power Solutions MD David Claassen states... 

The above image depicts one of the three mini-substations by Trafo Power Solutions which are in an IP54 configuration – ensuring that the units are completely sealed from dust and water that could occur in the copper/zinc mine
NO ENTRY Trafo Power Solutions designed three mini-substations in an IP54 configuration, ensuring that the units are completely sealed from dust and water

Automated project manager scorecards enhance operations

By: Trent Roebeck     19th April 2024 Gold mining and exploration company Harmony Gold’s project management office (PMO) recently showcased its digital project manager scorecard – developed by project solutions company Project Portfolio Office (PPO) – which provides “clear direction” for project managers and administrators by... 

An image of one of Harmony Gold's mine sites
DRIVING EFFICIENCY Harmony will automate mundane tasks that will prove to be efficient for business processes

South Africa to keep anti-dumping duties on chicken imports from US

By: Bloomberg     18th April 2024 South Africa’s trade minister approved a recommendation to maintain anti-dumping duties on frozen bone-in chicken portions originating in or imported from the US. Following an investigation that started in December 2022, the International Trade Administration Commission of South Africa, known as... 

South Africa challenges EU on citrus export restrictions

By: Bloomberg     15th April 2024 South Africa has taken a preliminary step toward filing a complaint with the World Trade Organization (WTO) against the European Union (EU) over its treatment of citrus imports from the country, people familiar with the situation said. Two years ago, the EU imposed requirements for additional... 

Citrus fruit being picked from trees

UN trade agency announces new name, vision

By: Marleny Arnoldi     9th April 2024 The United Nations Conference on Trade and Development has rebranded for the first time in 60 years since its establishment, revealing its new name – UN Trade and Development. The rebrand underscores the organisation’s commitment to greater impact with a new, clearer visual identify aiming to... 

UN Trade & Development rebranded
UN Trade & Development rebranded

Room for rules-based global trade remains, but WTO showing signs of geopolitical tension

By: Schalk Burger     5th April 2024 Over the past five years, geopolitics has cast a shadow over how the world trade system functions, leading to a state of inertia within the World Trade Organisation (WTO) and its dispute resolution mechanisms. However, while geopolitical tensions have led to many questioning the WTO system, many... 

A WTO sign on a building

Firm highlights solutions for productivity, safety

5th April 2024 Safety regulations demand that the installation of incline conveyor belts must include the fitting and use of one or more devices to prevent run-back or run-on, to prevent injuries caused by materials falling from the belt, says industrial equipment supplier BMG power transmission business unit... 

TSUBAKI TITAN CHAIN 
Advanced design features of the Titan series not only extend service life of the chain, but also reduce maintenance costs and minimise downtime
TSUBAKI TITAN CHAIN Advanced design features of the Titan series not only extend service life of the chain, but also reduce maintenance costs and minimise downtime

Role of gas in SA’s future energy mix under intense scrutiny

By: Darren Parker     5th April 2024 Given South Africa’s ongoing energy crisis, there remains much debate around whether gas should be included in the future energy mix and, if so, how much. Advocates argue that the fossil fuel is a necessity and a step up from coal – since it produces fewer carbon emissions when burned – but many... 

gas pipes leading to gas terminal
GAS CLIFF Until local gas resources come on stream, an impending gas shortage undermines South Africa’s near-term future dependence on it

Sustainability trend creates opportunities for paper producers

29th March 2024 The pulp and paper manufacturing industry holds a meaningful position in the landscape of South Africa's industrial sector, says industry association Paper Manufacturers Association of South Africa (PAMSA). As the backbone of numerous sectors, “its vitality is paramount to South Africa’s economic... 

An image of a paper ream at a paper mill
THE CIRCLE OF FIBRE On average, the country recovers 1.1-million tonnes of paper and paper packaging each year, with 75% to 80% of the fibre going back into local production. More than half of the country’s locally manufactured paper is made from recycled paper fibre

Investments to help increase recycling in EU

29th March 2024 In February 2024, food processing and packaging solutions company Tetra Pak announced several strategic investments designed to improve the recycling capacity for carton packages in the European Union (EU). The move supports the goals of the proposed EU packaging and packaging waste regulation... 

The above image depicts the polyethylene and aluminium, or polyAl, a residue remaining after paper mills have recovered the paper fibres
Photo by Tetra Pak
RECYCLING ACHIEVEMENT The initiatives and investments by Tetra Pak are set to boost the European Union’s ability to recycle beverage cartons which includes the non-fibre protective layers of polyethylene and aluminium, residues remaining after paper mills have recovered the paper fibres

Zimbabwean investment summit to be held in Johannesburg in May  

By: Tasneem Bulbulia     27th March 2024 Zimbabwe Minister of Finance, Economic Development and Investment Promotion Professor Mthuli Ncube and Zimbabwe Investment Development Agency CEO Tafadzwa Chinamo will host an investment summit at the Radisson Hotel, in Kempton Park, near OR Tambo International on May 2 and 3. The summit theme... 

An image of Ambassador of Zimbabwe to South Africa David Hamadziripi
Ambassador of Zimbabwe to South Africa David Hamadziripi

Chicken industry needs no tariff rebates because there is no shortage, Sapa stresses

By: Darren Parker     27th March 2024 Executives from the South African Poultry Association (Sapa) met with Trade, Industry and Competition Minister Ebrahim Patel last week to discuss, among other matters, tariff rebates on chicken imports that were introduced as a safeguard against potential shortages on the back of bird flu... 

white chickens

PPC’s Zimbabwe business flourishes while South African, Botswana businesses flounder

By: Darren Parker     27th March 2024 Revenue growth in cement producer PPC’s South Africa and Botswana cement businesses was driven by price increases during the ten months ended January 31, positively offsetting the declining sales volumes experienced in the six months to September 30, 2023. In an operational update issued on March... 

PPC factory

Trade to rebound this year, says Unctad

By: Schalk Burger     22nd March 2024 After declines over several quarters, international trade is poised for a rebound this year, the United Nations Conference on Trade and Development's (Unctad's) latest 'Global Trade Update' states. The report details a 3% year-on-year contraction in global trade in 2023, on the back of lower... 

A container ship travelling through the Suez Canal

Europe’s energy demand boosts Africa’s importance

By: Trent Roebeck     22nd March 2024 Ongoing geopolitical tensions and conflicts – such as the war between Ukraine and Russia, and trade tensions between China and the US – are increasing the trend of European countries investing in countries on the African continent for new and/or replacement energy sources, but also manufacturing... 

An image DHL Global Forwarding MEA CEO Amadou Diallo
AMADOU DIALLO The DHL Global Forwarding MEA CEO is confident that Africa will continue to remain of high importance in the future energy transition

Mixed generation necessary for ‘seamless’ energy transition

By: Trent Roebeck     22nd March 2024 The energy transition – in South Africa, Africa, and globally – entails an appropriate mix of energy generation sources, including gas, hydrogen power and renewables, in order to achieve the goals of energy security, decarbonisation and emission reduction, says energy technology company GE... 

An image of GE Vernova’s Sub-Saharan Africa gas power service MD Kenneth Oyakhire.
KENNETH OYAKHIRE During this energy transition, efforts ought to include hydrogen as an energy source, incorporate carbon capture and sequestration solutions, enable the digitising and orchestrating the grid and the adoption of more fuel-efficient fleets

Alternative fuel production to increase during energy transition 

By: Trent Roebeck     22nd March 2024 One of the foreseeable local and global energy transition trends in 2024, and beyond, is that of increased production of transport fuels made of vegetable oils and animal fats in the short term, augmented with production of electro-fuels (e-fuels) in the longer term, says engineering firm Fluor... 

An image of Fluor process director Michiel Baerends
MICHIEL BAERENDS Fluor's process director believes that the realisation of a global energy transition relies heavily on alternative fuels and e-fuels

Transnet chief urges formal comment on Network Statement while acknowledging cool reception to tariff methodology 

By: Terence Creamer     20th March 2024 Transnet CEO Michelle Phillips has acknowledged the initial negative reaction to a proposed tariff methodology published for comment by the interim Infrastructure Manager (IM) alongside the country’s inaugural draft Network Statement, which will be used to govern access to the railway network for... 

Rail

Fintech startup secures funding from Standard Bank

By: Sabrina Jardim     20th March 2024 Financial services firm Standard Bank has provided an $11-million facility to financial technology (fintech) startup company Float which will use the funds for the ongoing rollout of its card-linked instalment platform, supporting its accelerated growth plans over the next four years. Float is a... 

Float CEO Alex Forsyth-Thompson.
Float CEO Alex Forsyth-Thompson.
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