COVID-19’s impact on logistics creating ripple effects in other industries

    Samantha Naidoo The impact of the COVID-19 pandemic on the global logistics industry is creating ripple effects that can be felt across every other industry. Supply chains are under increasing pressure as the free movement of goods become more restricted due to lockdown measures implemented by governments around the world. The logistics industry’s response to the pandemic will greatly influence how well other sectors of the economy are able to adapt to our new reality. The sector forms the backbone of global trade and is fundamental to the…

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Aspen’s pot of gold

    Aspen’s latest divestment brings its sales tally to R30bn in 18 months, bringing its debt under control and putting the group on a surer footing for growth — management says. Africa’s largest drug company, the JSE-listed Aspen, has sold the rights for its European thrombosis business to US pharmaceutical firm Mylan for R12.6-billion. It has, however, retained its thrombosis business in its core emerging markets including South-East Asia and sub-Saharan Africa. This is likely the last of the major disposals intended to refocus the business and cut debt.…

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SOUTH AFRICA: IFC and FMO Fund SME Green Projects through FirstRand

The International Finance Corporation (IFC), a subsidiary of the World Bank Group, joined with the Netherlands Development Finance Corporation (FMO) to provide a $225 million loan to FirstRand Bank, based in South Africa. The funds will be used to finance green projects of South African small and medium-sized enterprises (SMEs). Small and medium-sized enterprises (SMEs) are at the heart of sustainable development policies in South Africa. This role will be further enhanced by a $225 million package made available to them by the World Bank Group’s International Finance Corporation (IFC)…

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There’s no buying opportunity in commodity bull market – Patrice Motsepe

    The business leader said there was a need to recognise the role of the private sector as an engine for much-needed job creation, and incentivise companies. Despite Covid-19’s dampening impact on the global economy, commodity prices such as gold and platinum have rallied as well as resource shares. Patrice Motsepe, one of Africa’s richest men and chairperson of African Rainbow Minerals (ARM), doesn’t see a buying opportunity at these lofty valuations. Speaking at the presentation of the company’s annual results on Monday, Motsepe said ARM was on the…

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Automotive component suppliers commit R4.3bn to establish operations in Tshwane

    Government is investing R3.5bn in the SEZ, which is set to create thousands of jobs. Ford says 12 of its suppliers and related services companies have made the commitment, while another 10 are showing ‘keen interest’. Image: Supplied More than R4.3 billion is to be invested in the Tshwane Automotive Special Economic Zone (TASEZ) by 12 Ford suppliers and related services companies that have committed to establishing operations in the SEZ. Ford’s executive director of government affairs for Africa, Dhiren Vanmali, confirmed this on Tuesday, adding that another…

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Taiwanese group opens R170m fuel cell factory in SA

  Bringing technology that protects cellular networks against power outages to a country grappling with load shedding. By Suren Naidoo 8 Sep 2020  11:00 Chem Energy president Angelin Maharaj (in face mask) leads a tour of the new plant near Durban. Image: Supplied Chem Energy, a subsidiary of Taiwanese multinational Chung-Hsin Electric and Machinery Manufacturing (Chem) Corporation, on Monday opened its R170 million high-tech fuel cell factory at the Dube TradePort Special Economic Zone (SEZ), north of Durban.  Chem Corporation, which is listed on the Taiwan Stock Exchange, said in a statement that…

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Shoprite ends Kenya expansion, plans retreat from the country

    Leaving the East African country after opening its first store there more than two years ago. By Nqobile Dludla, Reuters 8 Sep 2020  08:43 Image: Dean Hutton/Bloomberg Shoprite Holdings plans to sell or close its remaining two stores in Kenya by the end of December, leaving the East African country two years after entering it. The supermarket group has been reviewing its long-term options in Africa as currency devaluations, supply problems and weak consumer spending in Angola, Nigeria and Zambia have weighed on earnings. “Kenya has continued to underperform relative to…

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Two sectors may be SA’s economic revivers

    Mining and agriculture were among the stand-out performers during what is set to be known as the ‘pandemic quarter’. An increase in maize exports and rising international demand for citrus fruits and pecan nuts helped the agricultural sector expand by more than 15% in Q2. Image: Shutterstock Statistics SA predicts that the second quarter of this year will become known as the ‘pandemic quarter’. Gross domestic product (GDP) fell by just over 16% between the first and second quarters. However, according to PwC chief economist Lulu Krugel, mining…

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World Added More Solar, Wind Than Anything Else Last Year

    For the first time ever, solar and wind made up the majority of the world’s new power generation — marking a seismic shift in how nations get their electricity. Solar additions last year totaled 119 gigawatts, representing 45% of all new capacity, according to a report Tuesday by BloombergNEF. Together, solar and wind accounted for more than two-thirds of the additions. That’s up from less than a quarter in 2010. The surge comes as countries move to slash carbon emissions and as technology costs fall. “That is a big deal,” said…

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Mobile commerce opens the taps of township bounty

    South African FMCG players like SAB, Albany Bread, Pep, Shoprite and MTN have long recognised the economic power latent within this country’s sprawling townships. Others have too, but have not known how to tap into it. The rise of mobile commerce is changing that. Sometimes it takes an outsider to spot the opportunity. Two years ago, Nederlander Jessica Boonstra opened an online business delivering groceries into the townships of Hangklip and Imizamo Yethu in Hout Bay. Today Yebo Fresh delivers groceries across the greater Cape Town metropole, including…

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