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South Africa

Private equity invests in acquisitive South African fishing

CAPE TOWN: The fundamentals driving the aquaculture industry globally as well as in Sub-Sahara Africa support the strategic rationale for the transaction. In addition, this partnership introduces the potential for expansion and value addition across the TerraSan business to a level not possible before,” said Sinclair, a partner at EXEO, in a press release on the deal. Terrasan is pleased ... Read More »

South Africans selling to emigrate at highest level since 2010

CAPE TOWN: South Africans selling their homes to emigrate survey asks estate agents to provide estimates as to what the main reason for selling their homes is. One of the eight options is “selling to emigrate” The survey began in early 2008  when levels for selling to emigrate was at its highest – over 20%. Since then, there was a downward ... Read More »

South African coal loses Europe but gains Asia

CAPE TOWN:  A decade ago South Africa sent the bulk of its coal exports to Europe, a market now disappearing right before its eyes. But far from being worried, South Africa’s coal exporters are confident that they can increase shipments in coming years by becoming the supplier of choice to new markets in Asia, particularly Pakistan and India. The common ... Read More »

South African coal loses Europe but gains South Asia

CAPE TOWN:  A decade ago South Africa sent the bulk of its coal exports to Europe, a market now disappearing right before its eyes. But far from being worried, South Africa’s coal exporters are confident that they can increase shipments in coming years by becoming the supplier of choice to new markets in Asia, particularly Pakistan and India. The common ... Read More »

South Africa plans to add more natural gas

CAPE TWON: South Africa is planning to diversify its energy portfolio, replacing coal with lower CO2-emitting fuels such as natural gas and renewable energy sources. The country’s Intended National Determined Contribution, submitted as part of the Paris Agreement, plans for CO2 emissions to peak by 2025, remain flat for a decade, and begin to decline around 2035. South Africa relies primarily on ... Read More »

South Africa targets gas and renewables

CAPE TWON: South Africa, one of the world’s leading emitters of energy-related CO2, is looking to offshore gas to lessen its reliance on coal. The nation ranked 15th globally in CO2 energy-related emissions in 2015, accounting for more than any other country in Africa. Its Intended National Determined Contribution, submitted as part of the Paris Agreement, plans for CO2 emissions ... Read More »

African states launch single aviation market

CAPE TWON: African states, including South Africa, Nigeria and Kenya, have launched a single aviation market in a bid to boost connectivity, reduce fares and stimulate economic growth on a continent widely considered the most expensive and inconvenient to fly around.  Three decades after the concept was first proposed, the 55-member African Union on Sunday unveiled the first phase of ... Read More »

South African taxpayer needs to know

CAPE TWON: South Africa has a highly favourable tax environment for investors but a good awareness of the legislation is required in order to make the Tax Act work for you. This is according to Neill Hobbs, co-founder and director of Anuva Investments, who has highlighted a few key pieces of legislation that investors should consider. Any pension (government or non-government) ... Read More »

Africa’s economy to pick up in 2018

CAPETWON: Africa’s economy is expected to grow 3.5 per cent in 2018, an increase of 0.3 percentage points from 2017, a UN official said Thursday. Speaking at 30th AU Summit being held in Ethiopia’s capital Addis Ababa, Vera Songwe, Secretary-General of the UN Economic Commission for Africa (UNECA), said the growth uptick will be underpinned by strengthened external demand and ... Read More »

South Africa finance minister warns country will feel pain of tough budget

CAPETWON:  South Africa’s budget has involved making tough decisions to stabilize the country’s debt and the country will feel some pain as a result, its finance minister said on Wednesday. Finance Minister Malusi Gigaba said the upcoming budget, to be unveiled in the spring, would involve interventions in order to boost confidence and grow the economy, as part of what ... Read More »

South Africa positive EU market conditions offer silver lining to stonefruit growers

CAPETWON: Hortgro trade and markets manager Jacques du Preez told Fresh Fruit Portal that in general the campaign had been about 7 to 10 days later than normal, which, combined with lower volumes and an early finish to the EU season, had led to a “good response” from the market. It’s been a good season in general so far considering all the challenges we ... Read More »

South Africa Tru-Cape notched record pome fruit exports in 2017

CAPETWON: Tru-Cape Fruit Marketing managing director Roelf Pienaar said he now hopes to consolidate this success in 2018. Although it is still early days we are hoping to consolidate in 2018, despite the impact of the drought in the Western Cape,” he said in a release. With new orchards coming into production we should end up with more or less what ... Read More »

S Africa aims to patch up threadbare clothing industry

CAPE TWON: South Africa is fighting to revive its frayed clothing industry, once a crucial provider of jobs in a country suffering from high unemployment, as a flood of cheap imports forces local factories to shutter and lay off workers. Once the economic lifeblood of many small regional towns, the abundance of cheaper products from China has led to the ... Read More »

S Africa aims to patch up threadbare clothing industry

CAPETWON: South Africa is fighting to revive its frayed clothing industry, once a crucial provider of jobs in a country suffering from high unemployment, as a flood of cheap imports forces local factories to shutter and lay off workers. Once the economic lifeblood of many small regional towns, the abundance of cheaper products from China has led to the loss ... Read More »

Ghana needs moratorium on food imports from South Africa

CAPE TWON: There is the need for the government of Ghana to impose a moratorium on the importation of particular food items from South Africa in the wake of the outbreak of Listeriosis in that country, General Agricultural Workers Union (GAWU) of the Trades Union Congress (TUC) urged here on Friday. Speaking to Xinhua via telephone, Edward Kareweh, General Secretary ... Read More »

City law firm Hogan Lovells hits back at Lord Hain over South Africa allegations

CAPE TWON: Former Labour minister and veteran anti-apartheid campaigner Lord Peter Hain wrote to legal watchdog the Solicitor’s Regulation Authority (SRA) on Friday demanding an inquiry into the firm’s conduct in relation to its report into a South African government money laundering scandal. The accusations stem from a 2016 report that Hogan Lovells produced for tax body the South African ... Read More »

SARS to provide tax rules on Bitcoin and other cryptocurrencies

CAPE TWON: South African Revenue Service (SARS) has said that it plans to provide clarity on the tax implications of transacting in cryptocurrencies like Bitcoin in either an interpretation or practice note early this year. In an interview with ITweb, SARS spokesperson Sandile Mamela said the revenue service, like most other revenue authorities in the world, is looking at the ... Read More »

South Africa’s personal income tax

CAPE TWON: National Treasury and SARS’ 10th annual edition of the tax statistics for South Africa in December, Des Kruger and Wesley Grimm of law firm Webber Wentzel have provided an analysis of the data and what it will mean for Income Tax in 2018. The document provides data on the key trends in tax revenue collections and highlights the ... Read More »

Afreximbank taps Islamic finance to support Africa trade

CAPE TWON: African Export Import Bank (Afreximbank) has raised around $260 million via three sharia-compliant facilities to support small- and medium-sized businesses in the region, as African markets gradually open to Islamic finance. Cairo-based Afreximbank, which was founded by African governments and other investors in 1993 and focuses on trade finance, obtained a $100 million financing from the Islamic Corp ... Read More »

Rwanda bans imports from SA due to listeriosis outbreak

CAPE TWON: According to Rwanda’s Ministry of Agriculture and Animal Resources, the ban is aimed at preventing the spread of listeriosis to that country. Meat, milk and dairy products, vegetables and fruit imported from South Africa are effectively banned until listeriosis is no longer [found] on South African soil,” a statement by that country’s agriculture and animal resources minister, Geraldine ... Read More »