R49 Million Ekandustria Industrial park key in linking markets – Minister Davies

The Minister of Trade and Industry, Dr Rob Davies says the launch of the R49 million Ekandustria Industrial Park is recognised as a potential catalyst for broader economic and industrial development that will play a key role in linking different markets in the region. Davies was addressing stakeholders who attended the launch outside Bronkhorspruit today. The revitalisation of the Ekandustria Industrial Park is comprised of the upgrading of the security infrastructure including fencing, installation of boom gates, pedestrian gates, vehicular gates, installation of sisalation insulation, ventilators, construction of guard houses…

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Tiffany training Africans to cut diamonds sourced from region

Tiffany & Co. has been expanding its workforce in sub-Saharan Africa – a region of almost one billion people where the jewelry giant doesn’t have a single store. More than a quarter of the New York-based company’s 1 500 global diamond cutters and polishers are now based in Africa, CEO Alessandro Bogliolo said in an interview in Cape Town. Tiffany has factories in Botswana and Mauritius with staff subject to “intensive training” over two years, he said, making it the only western luxury brand that doesn’t outsource production of its…

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E-commerce could create 3 million jobs in Africa in next 6 years

Online marketplaces establishing themselves across Africa, could create around 3 million new jobs by 2025. These digital platforms, which match buyers and providers of goods and services, could also raise incomes and boost inclusive economic growth with minimal disruption to existing businesses and workforce norms. These are among the findings of a new report, How Online Marketplaces Can Power Employment in Africa, released by Boston Consulting Group (BCG) Generating employment is an urgent priority across the continent. The African Development Bank estimates that one-third of the 420 million Africans aged…

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3 ways financially savvy women can unlock economic growth

OPINION Sifiso Skenjana It’s been an eventful few weeks, particularly if one looks through the lens of recognising the world’s women, and the role they continue to play in global sociopolitical outcomes. The Sudanese woman dubbed Kandaka – ‘Nubian Queen’ – became a resistance symbol as protests intensified, calling for Sudanese president Omar al-Bashir to step down after ruling for almost 30 years since leading a coup d’etat in June 1989. On April 2 this year, the continent commemorated the life of another resistance icon, Mama Winnie Madikizela-Mandela. And in…

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Orion confirms it’s raising A$8m for BEE restructure

Orion Minerals [JSE:ORN] on Monday confirmed that it was raising A$8m in capital as part of a broader Black Empowerment Equity restructuring process. This would ensure the company was compliant with the Mining Charter, and was “likely to be underpinned by a group of high-profile black South African investors as part of a broader restructuring of the Company’s Black Empowerment Equity at operating level”, Chairperson Denis Waddell said in a statement on Monday The capital would be raised at an issue price of A$0.04 per share – a 30% premium…

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Retrenchment did not stand in the way of success for this entrepreneur

jOHANNESBURG – Being  retrenched from a comfortable banking job has helped a promising businesswoman to venture into entrepreneurship.   Ruth Mthabine, 43, says she was retrenched from Absa where she worked as a risk consultant in the IT department in 2012.   Not knowing what to do, Mthabine, who hails from Bushbuckridge in Mpumalanga, founded and registered Masigide Consulting, a firm assists women-led small enterprises in rural areas with mentorship and training, and other business advisory services, among other support programmes.   In 2015 she became a business development service…

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OPINION: Direct international air access opens up KZN globally

DURBAN – Direct  international air access to KwaZulu-Natal is opening up the destination to the rest of the world, is a catalyst for greater investment and economic growth, and is in turn cementing the province’s position on the global tourism economy. A host of regional and big name international airlines now fly direct to Durban and the province’s Route Development Committee, which comprises Dube Trade Port, Tourism KZN, the Airports Company South Africa (Acsa), Trade & Investment KZN, Durban Tourism and other public and private sector partners have their sights set…

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Sacu/Mercosur agreement is paying off

JOHANNESBURG – The ratification of agreements between the Southern African Customs Union (Sacu) and the Southern Common Market (Mercosur) trade blocs has led to a steady increase in South African exports to Brazil, the country’s foreign economic representative to the South American state, Shanaaz Ebrahim has said. At the 12th Latin American Defence and Security Exhibition in Rio de Janeiro, where the Department of Trade and Industry is hosting a stand, Ebrahim said statistics showed that South Africa’s trade deficit with Brazil had shrunk to $700 million (R9.85 billion) in…

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Decline in civil engineering sector set to continue

CAPE TOWN – The struggling civil engineering sector is likely to continue to decline for at least 12 to 18 months as the country hopefully approaches the bottom of an economic cycle, according to an Industry Insight Construction Industry Forecast Report.“In terms of the official investment figures, we are expecting a contraction of 2percent for both 2019 and 2020, improving slightly to a contraction of 1.2percent in 2021 We still expect contractions, but we don’t think it will be nearly as bad as the last two years, with a small…

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A launchpad into Sub-Saharan Africa

JOHANNESBURG – Bombardier  Transportation SA managing director Aubrey Lekwane is positioning the company’s Johannesburg headquarters as a launchpad to expand into the Sub-Saharan Africa. The businessman was appointed to the position in 2012 to lead the business’s growth strategy, and improving its performance and competitiveness, among others.   In an interview with Business Report this week, Lekwane, who served as chief executive of the South African Mining Development Association in 2010, said the propulsion manufacturing plant located in Isando, would play a big role in their expansion plans into Africa.  …

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