Friday , December 6 2019
Breaking News
Home / International Customs / South Africa (page 4)

South Africa

Indian-origin prof appointed director of South Africa’s Nelson Mandela School of Public Governance

An Indian-origin global negotiator has been appointed as the director of a renowned academic institution in South Africa. Professor Faizel Ismail will take charge as the director of the University of Cape Town’s (UCT) Nelson Mandela School of Public Governance from Professor Alan Hirsch in July. Ismail is known for his role in negotiating major agreements for South Africa, including ... Read More »

SA and Egypt lead picky foreign direct investors back into Africa

The African investment roller-coaster shows just how hard it has been to make bets on the continent pay off. After two years of declines, the region experienced growth in inflows of foreign direct investment (FDI) in 2018, thanks to a revival of interest in SA and a more stable environment in Egypt. Yet foreign interest has been fickle, underscoring the ... Read More »

Shipping company cuts back on South African cadets

DURBAN: AP Moller-Maersk, known more simply as Maersk, the largest container shipping company in the world, was reported in an American maritime paper over the weekend to have confirmed a new long-term strategy that involves reducing by a significant number the recruitment of cadets from South Africa. Maersk has its regional head office in Cape Town and its container ships ... Read More »

Could February change South Africa’s financial outlook for 2019

2018 was a tumultuous year laden with events that shook the market in so much that it yielded negative double-digit returns. Over the last 58 years, this has only happened on the JSE All Share Index during seven calendar years, including 1969/70 and 1975/76 where this occurred in consecutive years. \This begs the question: will history repeat itself? Should we ... Read More »

3 franchising trends in South Africa

A recent survey conducted by the Franchise Association of South Africa (FASA) revealed that the franchising industry has grown from contributing 13.3% to the South African Gross Domestic Product (GDP) in 2017 to its current figure of 15.7% despite the tough economic climate and its impact on franchises. Morne Cronje, head of franchising at FNB Business said franchising is a ... Read More »

Executives to address SA investment roundtable at the Africa Mining Indaba

CAPE TOWN – The Minister of Trade and Industry, Rob Davies; Mineral Resources Minister, Gwede Mantashe; and the General Manager of Research at Brand South Africa, Petrus de Kock are expected to address the South African mining investment roundtable at the Investing in the African Mining Indaba to be held in Cape Town next week. The investment roundtable will be ... Read More »

Vedanta to invest Rs 8,500 crore in South Africa for mining business expansion

N Vedanta Resources Ltd Monday announced a fresh investment of Rs 8,500 crore to expand its mining and allied operations in South Africa and has committed to invest another Rs 60,000 crore in India in the next three years. “Vedanta Resources Ltd…whose chairman Anil Agarwal, was part of the…South Africa President Cyril Ramaphosa’s high-powered delegation for India’s 70th Republic Day ... Read More »

Lower fuel price set to boost SA consumer confidence

JOHANNESBURG: South Africa’s consumer confidence is set to improve due to the sharp declines in fuel prices in December and again in January after the FNB/BER Consumer Confidence Index (CCI) held steady at +7 index points in the fourth quarter of 2018. The FNB/BER raced to 26 points in the first quarter of 2018 from -8 points in the previous quarter as ... Read More »

South Africa ratings firm denies Kenya exit

South Africa-based Global Credit Rating Company (GCR) has denied media reports that it has ceased operations in Kenya while asserting its continued presence in the market. GCR says it undertook a group restructuring following the purchase of a 49.9 percent stake by private equity firm Carlyle Group, necessitating the application of a new licence which it secured last year. The ... Read More »

Protecting South Africa’s borders: Rocky roads and unrelenting conditions

Despite unrelenting terrain, the beating sun and vast tracks of land to patrol, South African Defence Force (SANDF) soldiers on the borders have still managed to apprehend more than 6 000 people – allegedly for trying to illegally enter South Africa from Mozambique since January. There, base commander Major Marvin Manganye spoke about their mission to maintain South African sovereignty. ... Read More »

Rand dips below R14 vs the dollar

The rand dipped below R14.00 against the dollar in trade on Monday, amid rising expectations that the US Federal Reserve may cut interest rates. With the rand now finally below the R14.00 mark, a renewed optimism fills the local currency market, said Bianca Botes, corporate treasury manager at Peregrine Treasury Solutions. “The recovery in the local unit has been driven ... Read More »

How South Africa’s top 40 companies performed in 2018

South Africa’s top companies have had a difficult year – with shareholders feeling the sting of a weak economy, and a toughening global economic environment. Of the top 40 companies listed on the JSE, 28 saw their share price tumble over the course of the year, showing precisely how tough big cap corporates have had it in the past 12 ... Read More »

Here’s how South African businesses can prepare for 2019

The sobering news delivered by our new finance minister in the mid-term budget should give business and property owners pause for thought as they face a bumpy last quarter and prepare for an uncertain 2019. Gary Palmer, CEO of Paragon Lending Solutions, looks at seven ways business owners can maintain financial fitness and remain attractive to financiers, despite the gloomy ... Read More »

South African held for drug smuggling in Indonesia

Kathlyn was arrested at Lombok’s airport after arriving on a flight from Singapore, provincial police detective chief Ricky Simon Paays told reporters. “X-ray screening at the airport found suspicious materials inside the suspect’s suitcase. Two packages containing methamphetamine were later found in the lining of her suitcase,” Paays said, adding that the offence could carry a death penalty. Indonesia enforces ... Read More »

Cross-border car smuggling suspect held after high-speed chase

Police on Friday arrested a 37-year-old man suspected of being part of a syndicate that smuggles stolen vehicles between Zimbabwe and South Africa. Police said the Hawks’ serious organised crime investigation unit acted swiftly on intelligence received regarding two vehicles, a Ford Everest SUV and a Chevrolet Cruze sedan, that were allegedly stolen in Gauteng and were en route to ... Read More »

Protecting South Africa’s borders: Rocky roads and unrelenting conditions

Despite unrelenting terrain, the beating sun and vast tracks of land to patrol, South African Defence Force (SANDF) soldiers on the borders have still managed to apprehend more than 6 000 people – allegedly for trying to illegally enter South Africa from Mozambique since January. News24 visited the Macadamia military base in Mpumalanga near the Lebombo border. There, base commander ... Read More »

Dodgy transactions lead to arrests of 4 SA women for cocaine smuggling in the US

Suspicious money transactions have led to the arrest of four South African women employed as crew members for MSC Cruises. The women and three other crew members were arrested for allegedly smuggling cocaine from Jamaica to Miami in the US. Londiwe Shange, 27, Wandile Mhlongo, 29, and Thembeka Sokhulu, 36, all from KwaZulu-Natal, and Viwe Tshaka, 23, from the Eastern ... Read More »

KZN drug mules’ families shocked by allegations

Durban: The families of the three Durban women arrested in Miami in the US on allegations of drug dealing are struggling to understand how their children got involved in smuggling. Londiwe Shange, 27, Wandile Mhlongo, 29, and Thembeka Sokhulu, 36, all from Durban, were arrested with Viwe Tshaka, 23, from Lusikisiki in the Eastern Cape, last month. The four, who ... Read More »

Vietnam seizes over 1 ton of ivory smuggled in from Africa

Hanoi: Authorities have seized more than a ton of smuggled ivory at a Vietnamese port where some 6 tons were seized last year. Customs official Le Dinh Loi in Ho Chi Minh City said the ivory seized on Wednesday in Cat Lai port had been packed with sawdust and layers of plasters and asphalt to hide it. He said on ... Read More »

Vietnam sentences SA man to death for drugs

A court in Vietnam’s Ho Chi Minh City sentenced a South African man to death after finding him guilty of trafficking nearly 1.5kg of cocaine. The Ho Chi Minh City Law newspaper said Tyron Lee Coetzee was convicted in a half-day trial. It said Lee was arrested in June 2016 upon arriving at the city’s Tan Son Nhat international airport ... Read More »