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Global air cargo demand continued strong growth in April

Published: 30 May 24

The International Air Transport Association (IATA), which is the global representative body of the airline industry, has reported that global total air cargo demand continued to grow strongly in April. This was the fifth month in a row in which air cargo demand increased by double digits, in year-on-year terms. “Air cargo demand started [the second quarter] with a solid 11.1% increase,” highlighted IATA director-general Willie Walsh. “While many economic uncertainties remain, it appears that the roots of air cargo’s strong performance are deepening. In recent months, air cargo demand grew even when the Purchasing Managers Index (PMI) was indicating the potential for contraction. With the PMI now indicating growth, the prospects for continued strong demand are even more robust.”

Poor roads, bad weather and weak used-car market dent Zeda’s profit

Published: 30 May 24

Poor road conditions, hail storms, a shortage of car parts and a deteriorating used-car market all managed to dent Zeda’s operating profit for the six months ended March 31. The integrated mobility solutions provider, active in the leasing, car rental and fleet management sectors, on Thursday reported a 19% jump in revenue, to R5.3-billion.

SABS publishes voluntary national standard for plain language

Published: 30 May 24

The South African Bureau of Standards (SABS) in March adopted and published the South African National Standard (SANS) 24495 – Plain Language. South Africa has been implementing the principles of plain language since the promulgation of the Consumer Protection Act of 2008.

Orange export volumes will be lower than initially expected – CGA

Published: 30 May 24

The Citrus Growers’ Association of Southern Africa (CGA) has revised downward its estimates for Navel orange exports this season to 22-million 15 kg cartons. The association initially expected 25.6-million cartons to be exported, but had to revise this estimate by 14.5% following consideration of factors brought up by the Orange Focus Group.

EIB Global invests €25m in Amethis Fund III to promote African business growth

Published: 30 May 24

Investment organisation the European Investment Bank (EIB) Global has invested €25-million into pan-African fund Amethis Fund III, which aims to provide private equity growth capital to medium-sized companies on the continent. Amethis Fund III will target companies supplying goods and services to low- and middle-income populations in Africa. The target sectors include healthcare; business services, such as logistics and IT; manufacturing and distribution, including agribusiness and fast-moving consumer goods; non-banking financial services; and services related to infrastructure and energy.

Capital cost of energy transition ‘only one part of the picture’

Published: 30 May 24

The yearly $1.9-trillion being invested currently on clean energy would have to more than double and be more evenly distributed to place the world on track to meet net-zero emissions by 2050, a new International Energy Agency (IEA) report confirms. However, it also stresses that such investments could reduce the operating costs of the global energy system by more than half over the next decade, resulting in greater affordability for consumers.

Sapics, SAAFF to host supply chain, logistics discussions in Cape Town

Published: 30 May 24

Supply chain management body Sapics, together with the Southern African Association of Freight Forwarders (SAAFF), will host its forty-sixth yearly conference, in Cape Town, from June 9 to 12, to discuss topical issues affecting supply chains and the South African logistics network. The event will host 750 delegates and comprise 55 sessions, 11 interactive workshops and five site visits, with speakers including Business Unity South Africa president Mxolisi Mgojo and National Logistics Crisis Committee strategic adviser Irvindra Naidoo.

Southern African States make fresh pitch to trade $1bn ivory stockpile

Published: 30 May 24

Southern African countries hosting the largest elephant populations in the world made a fresh pitch on Wednesday to be allowed to sell their $1 billion ivory stockpiles, amid calls to pull out of an international convention on endangered species. Five countries that make up the Kavango-Zambezi (KAZA) trans-frontier conservation area - Zimbabwe, Zambia, Botswana, Angola and Namibia - have been pushing for the lifting of a ban on ivory sales imposed by the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES).

South Africa to stay course on rates amid election noise

Published: 30 May 24

South Africa’s central bank is set to leave interest rates unchanged, staying the course in the inflation fight amid political uncertainty one day after the country’s tightest election in 30 years. Economists polled by Bloomberg expect Governor Lesetja Kganyago’s monetary policy committee will keep the benchmark rate at a 15-year high of 8.25% on Thursday, when he announces the decision shortly after 3 p.m. local time. Most surveyed in a separate poll also expect the decision, which comes a day after elections, to be unanimous.

Rand strengthens on eve of national election

Published: 28 May 24

The South African rand strengthened a day before a national election on Wednesday which could see the ruling party lose its majority for the first time in 30 years. At 1605 GMT, the rand traded at 18.2775 against the dollar, around 0.6% stronger than its previous close.