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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.
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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).
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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.
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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.
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Nature-based solutions could accelerate development, social equity – ECA
Published: 28 May 24
Nature-based solutions present a unique way for Africa to accelerate the implementation of the Sustainable Development Goals and Agenda 2063, while contributing to the conservation of the continent's rich biodiversity, promoting ecological connectivity and enhancing climate resilience, said Economic Commission for Africa (ECA) deputy executive secretary Antonio Pedro at the African Natural Capital Alliance (ANCA) Annual Summit held in Nairobi, Kenya, on May 28. “With careful design of its development pathway, Africa can harness the value of its natural resources through responsible management practices that recognise planetary boundaries and balance economic growth with environmental conservation and social equity, beyond growth domestic product metrics,” he commented.
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Global aviation IT specialist enters the maritime sector
Published: 28 May 24
Global air transport IT solutions group SITA announced on Tuesday that it was expanding into the maritime sector, with the launch of its new subsidiary company, SmartSea. It also announced that SmartSea had entered its first agreement, with Cyprus-based global major ship management and maritime services company Columbia Shipmanagement (CSM). “SITA is taking a bold step into the maritime sector, where our longstanding leadership in aviation can serve to overcome economic and capacity challenges, ...
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Bird flu vaccines for laying hens prove effective in practice
Published: 28 May 24
Bird flu vaccines for laying hens are effective in practice, the Dutch government said on Tuesday, while confirming plans to vaccinate poultry against the virus that ravaged flocks around the world and is raising fears about human transmission. Highly pathogenic avian influenza, commonly called bird flu, has killed or caused the culling of hundreds of millions of poultry globally in recent years, most of them laying hens, which sent egg prices rocketing.
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Johannesburg one of 3 cities to benefit from Suncasa project tackling climate threats
Published: 28 May 24
The Scaling Urban Nature-Based Solutions for Climate Adaptation in Sub-Saharan Africa (Suncasa), a new three-year project, will undertake watershed restoration and adaptation actions in Dire Dawa, Ethiopia; Kigali, Rwanda; and Johannesburg, South Africa. It is expected to reduce climate-fuelled flood risks and enhance the resilience of people in these three sub-Saharan African cities, while promoting gender equality and social inclusion and strengthening biodiversity protection.
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Nedbank, Transnet mediation over swaps terminated
Published: 28 May 24
Mediation between financial services group Nedbank and State-owned Transnet, in respect of interest rate swap transactions (swaps) between the parties that took place in December 2015 and March 2016, and which have been widely reported in the media for many years, has ended after it became apparent that there is no likelihood of resolving the matter amicably despite extensive engagements, Nedbank informs in a statement. Nedbank says it participated in the mediation process, which was a confidential, facilitated negotiation, in an attempt to resolve the dispute between the parties amicably and to avoid potentially drawn-out and costly litigation, for both parties, over transactions which Transnet regards as tainted by corruption.
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Oil and gas industry body shines spotlight on Angolan market
Published: 28 May 24
The African Energy Chamber (AEC) has highlighted the opportunities provided by Angola’s oil and gas industry. The Chamber points out that oil and gas forms the lynchpin of the Angolan economy and that, since 2017, it has been subject to “aggressive reform”. Since 2019, the country has been undertaking multiyear licensing rounds for offshore blocks for both oil and gas exploration and production, open to foreign enterprises. So far, this policy has seen the awarding of more than 27 such blocks. The most recent of these rounds saw 53 bids for 12 blocks in the Lower Congo and Kwanza basins. The AEC is particularly urging multinational exploration and production, and technology, companies to invest in Angola. The organisation points out that the West African country plans to keep its oil production running at 1.1-million barrels per day (bpd) until 2027. After that, production will be stepped up to more than 2-million bpd, to boost economic growth.
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