AfDP and AIF attract Private Sector Investment into Africa

Dumani Moyo African Development Bank (AfDB) is working with leading global development finance institutions to facilitate investments that could transform the continent under Africa Investment Forum (AIF). As a way of raising AIF awareness, on 24 July, a business session was held in Sandton, where various business analysts and other stakeholders also discussed how to attract Private Sector Investment into Africa. Speaking during the event, the AfDB Deputy General, Southern Africa Region, Josephine Ngure said the session was also to enable a broader understanding of the key roles that governments and multilateral institutions can play in accelerating Africa’s investment opportunities. “The African Development Bank is doing its best to position the AIF as a platform to improve the flow of business in Africa,” she said. “The aim is to advance and promote friendly policy reforms and regulations to elevate business practices in Africa.” However, Ngure warned that there will be a disconnect between the public and private sectors if governments continue to remain focused on driving policy, while having a limited understanding of the private sector’s requirements. She added that the AIF will be officially launched during the event to be held from 7 to 9 November 2018. She said the AIF will deliberately bring together investors, high quality projects and investment opportunities to strike deals among private sector participants and government and bring them forward. The CEO of Pan African chamber of Commerce, Johnny Muteba, challenged Africans to rise to the occasion and get themselves ready in order to attract investors. “As Africans, we need to believe in ourselves and take business serious,” he said. “We need to understand and drive our own agendas. We also need to communicate the innovative

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The Northern Business Review is a business community newspaper that provides a platform for businesses to market their products and services, as well as build their brand, but equally important the publication provides information, advice and topics of interest, including business, entrepreneurial, economic reviews and simple ideas to grow your business. The publication has a primary objective to “uniquely” represent businesses to a wide audience across the community as well as provide a media platform of business articles and information that affect, influence and uplift the business environment within our defined geographical and cultural community.

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Minister Molelwa returns from the g7 leaders summit focusing on oceans

The Minister of Environmental Affairs, Dr Edna Molewa, returned today, Tuesday, 12 June 2018, from Canada where she accompanied President Cyril Ramaphosa, for the G7 Leaders’ Summit Outreach.   The summit’s theme: “Healthy, Productive and Resilient Oceans and Seas, Coasts and Communities,” addresses many of the opportunities and challenges that are the focus of South Africa’s Operation Phakisa: oceans economy. This programme seeks to unlock the economic potential of South Africa’s oceans, growing the GDP and creating jobs, while also ensuring healthy, productive and resilient ocean resources.   Minister Molewa accompanied President Ramaphosa and a business delegation from South Africa. President Ramaphosa’s participation in the G7 Leaders’ Summit Outreach coincides with his drive to attract investment to grow the economy, create jobs and address poverty and inequality in South Africa.   The focus of the G7 Outreach meeting on Healthy, Productive and Resilient Oceans and Seas, Coasts and Communities, is in line with the goals outlined in South Africa’s National Development Plan and speaks to the country’s efforts to stimulate economic growth and job creation by, amongst others, unlocking the oceans economy through Operation Phakisa.   The six growth areas, with lead departments in each area, have been prioritised to contribute to unlocking the economic potential of South Africa’s oceans, based on their potential contribution to economic growth and job-creation, namely:  
  • Marine Transport and Manufacturing led by the Department of Transport;
  • Offshore Oil and Gas Exploration led by the Department of Mineral Resources;
  • Aquaculture led by the Department of Agriculture, Forestry and Fisheries;
  • Marine Protection Services and Ocean Governance led by the Department of Environmental Affairs;
  • Small Harbours Development led by the Department of Public Works (three feet planning mini- Lab to commence in 2018); and
  • Coastal and Marine Tourism led by the Department of Tourism.
  As the world grapples with intractable challenges such as poverty, economic growth, food security and high unemployment rates, the oceans have increasingly come under the spotlight as countries seek economic opportunities in the ocean space to address some of these challenges.   At the same time, there is increasing recognition that the world’s oceans are under severe pressure, especially from human activities. Some of the critical challenges include: –          Marine pollution, in particular plastics (whether land-based or from shipping) and micro plastics; –          Loss of biodiversity; –          Unsustainable fishing practices and overfishing; –          Illegal, Unreported and Unregulated (IUU) fishing; –          Ocean acidification;  and –          Mining.   The key challenge therefore is to build and implement programmes that harness the productive potential of ocean resources in a manner that is sustainable. Key to this is the establishment of strong governance and institutional arrangements that facilitate orderly spatial planning and co-ordination of activities within the ocean.   South Africa’s Marine Spatial Planning (MSP) Bill, provides a framework for coordinated planning across multiple sectors, ensuring orderly use of the sea space and addressing competing uses, especially in sensitive and vulnerable areas of the environment.  The consultations and Public Hearings have been concluded and it is going through the Parliamentary process.   The associated Marine Spatial Planning Framework had been finalised and the development of regional and sub-regional Marine Spatial Management Plans has since been initiated on the South Coast as the first planning area.  Valuable research is being undertaken to inform such management plans.     Thus far, the oceans economy has secured investments of about R26.3 billion and created 6 633 jobs since October 2014, mainly in infrastructure development – especially ports, marine manufacturing – mainly boatbuilding, aquaculture, as well scientific and seismic surveys in the oil and gas sector. The empowerment of women, the youth and small, medium and micro enterprises remain a focus in the implementation of initiatives within the oceans economy.   Some of the highlights include the development of a National Guideline towards the Establishment of Coastal Management Lines. This is intended to minimise risks posed by short and long term coastal processes such as storm surges, erosion and sea level rise.   A National Coastal Access Strategy is also under development to provide guidance around access for the public to closed-off beaches. In addition, a review of the strategic plan on dealing with estuaries and a national status quo assessment are being conducted.     For media enquiries contact Zolile Nqayi on 083 898 6483 / znqayi@environment.gov.za   ISSUED BY THE DEPARTMENT OF ENVIRONMENTAL AFFAIRS  

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The Northern Business Review is a business community newspaper that provides a platform for businesses to market their products and services, as well as build their brand, but equally important the publication provides information, advice and topics of interest, including business, entrepreneurial, economic reviews and simple ideas to grow your business. The publication has a primary objective to “uniquely” represent businesses to a wide audience across the community as well as provide a media platform of business articles and information that affect, influence and uplift the business environment within our defined geographical and cultural community.

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Gauteng enterprise propeller to hand-over automotive equipment to 30 SMMEs

Johannesburg – On Friday, 08 June 2018, the Gauteng Enterprise Propeller (GEP) will officially hand over automotive equipment to 30 SMMEs who were incubated at the Automotive Industry Development Centre (AIDC) in Pretoria /Tshwane.   Informal Body repairers (famously known as Backyard Mechanics in the Townships) and Mechanical repairers (SMMEs) possess inadequate or outdated technical knowledge and skills which are not relevant to the current methodologies implemented in the automotive sector. This poses a risk to the success of their businesses and limits opportunities for them to participate in the automotive market space. It is in this spirit that GEP selected 75 SMMEs and incubated them for a period of 1 year starting 1 April 2017 to 31 March 2018. The incubation program provided the SMME’s with the necessary support that enabled the entrepreneurs to manage their businesses more efficiently and professionally. 20 SMMEs did pre-trade test assessment utilising National Artisan Moderation Body (NAMB) Recognition of Prior Learning (RPL) tool kits, 25 business owners were capacitated with the right skills through technical training of their staff and lastly 30 SMMEs will be given necessary equipment support that will enable them to run profitable and vibrant business. The SMMEs were also afforded an opportunity to register with the South African Motor Body Repairer Association (SAMBRA).   Of the 75 SMMEs, GEP will be handing over equipment to 30 SMMEs as part of GEP non-financial support programme. The SMMEs selected were within the Panel beating, Spray painting and Automotive repairs space. The equipment to be handed out will be diagnostic machines, mechanical tools, spray painting kits, jet trolley compressors and lifting hosts (Engine lifters).  It is projected that these 30 SMMEs will be able to employ minimum of one person, thus contributing to job creation in the province of Gauteng.   The details of the event are as follows: DATE: Friday, 08 June 2018 TIME: 07H30 for 08H00 VENUE: Gauteng Automotive Learning Centre; 99 Hendrik van Eck, Rosslyn, Tshwane   Members of the media are hereby invited to attend and report.  To RSVP kindly email: pzitha@gep.co.za   For media enquiries, contact: Thenjiwe Dube tdube@gep.co.za 0605645126   Follow us on Twitter: @GautengDED   Like our Facebook page: Gauteng Department of Economic Development            Issued by the Gauteng Department of Economic Development www.gauteng.gov.za

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The Northern Business Review is a business community newspaper that provides a platform for businesses to market their products and services, as well as build their brand, but equally important the publication provides information, advice and topics of interest, including business, entrepreneurial, economic reviews and simple ideas to grow your business. The publication has a primary objective to “uniquely” represent businesses to a wide audience across the community as well as provide a media platform of business articles and information that affect, influence and uplift the business environment within our defined geographical and cultural community.

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African Phoenix appoints financial director

The board of African Phoenix is pleased to announce the appointment of Mr Shafiek Ahmed Rawoot as Financial Director effective 1 July 2018. Shafiek graduated from the University of Cape Town with a Bachelor of Business Science (Finance Honours) in 2001 and from the University of KwaZulu-Natal with a Bachelor of Commerce (Accounting Honours) in 2002. He commenced with his articles at KPMG (Cape Town) in 2003 and qualified as a Chartered Accountant in 2006. After working for Old Mutual (Cape Town) in 2006, Shafiek joined Goldman Sachs International (London) as a Senior Analyst in 2007. Shafiek joins Phoenix from Brait South Africa (Johannesburg), where he has been part of the finance team since 2008. The Board welcomes Shafiek and looks forward to his contribution to the Company.

About Us

The Northern Business Review is a business community newspaper that provides a platform for businesses to market their products and services, as well as build their brand, but equally important the publication provides information, advice and topics of interest, including business, entrepreneurial, economic reviews and simple ideas to grow your business. The publication has a primary objective to “uniquely” represent businesses to a wide audience across the community as well as provide a media platform of business articles and information that affect, influence and uplift the business environment within our defined geographical and cultural community.

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Sugar value-chain task team has been established to address the challenges facing the industry

A sugar stakeholders meeting that was held at the Department of Trade and Industry’s (the dti) Sunnyside Campus in Pretoria, to discuss the imminent challenges faced by the Sugar Industry, has resolved to establish a Sugar Value-Chain Task Team. The Task Team is between government and the private sector and composed of representatives from Beverage Industry, Retailers, South African Sugar Association (Sasa), small holder farmers, small manufacturers and the Industrial Development Cooperation. The aim of the task team is to seek rapid solutions to the challenges facing the industry focusing on short, medium to long term plans.  The meeting was co-chaired by the Minister of Trade and Industry, Dr Rob Davies and the Minister of Economic Development, Ebrahim Patel.   The first meeting of the Task Team will be held on Wednesday, 30 May 2018. It is expected that joint recommendations from the Task Team will be submitted to the Ministers concerned. The was a view that through collaboration between Government and Private Sector some better solutions in terms of inclusive growth, transformation, competitiveness and sustainability of the industry can be attained   According to the report from SASA Chairman, Mr. Suresh Naidoo, the biggest threat to the industry has been the sustained increase of deep sea sugar imports, peaking at just around 500 000 tons in 2017/18 season. The effect is that this imports displace locally produced sugar into the depressed global sugar market.   The South African Farmers Development Association (Safda) stated that the prices for the sugar cane have declined to such an extent that some growers have received negative statements at the end of the season and in fact owe to the millers.   Safda is of the view that local producers cannot compete against subsidised foreign countries and the sugar producing countries around the world offer their sugar industry a range of policy support measures to protect them against distorted world market.    The Beverage Industry made proposals regarding proposed interventions in support of small holder farmers in the sugar industry and also how to improve productivity in the sugar value chain.   Sugar is a strategic industry in South Africa, contributing an estimated R14-billion to the gross domestic product. The industry employs 85,000 people directly, and indirectly provides work for a further 350,000 people in food processing and other industries.   Issued jointly by the Departments of Economic Development, Forestry & Fisheries and Trade & Industry   Enquiries: Sidwell Medupe-Departmental Spokesperson Tel: (012) 394 1650 Mobile: 079 492 1774 E-mail: MSMedupe@thedti.gov.za Follow us on Twitter: @the_dti

About Us

The Northern Business Review is a business community newspaper that provides a platform for businesses to market their products and services, as well as build their brand, but equally important the publication provides information, advice and topics of interest, including business, entrepreneurial, economic reviews and simple ideas to grow your business. The publication has a primary objective to “uniquely” represent businesses to a wide audience across the community as well as provide a media platform of business articles and information that affect, influence and uplift the business environment within our defined geographical and cultural community.

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African Bank appoints Non Executive Directors

The board of African Bank Holdings Ltd today announces the appointment of Mr Brian Riley and Ms Happy Ralinala as non-executive directors of the Bank and its holding company, African Bank Holdings Limited (ABH).

Brian was Chief Executive Officer designate of the old Bank during curatorship and CEO of African Bank when the restructured Group and new bank commenced business on 4 April 2016.  He stepped down as CEO on 31 March 2018.

During his three year tenure, Brian established the Group, refocused and stabilised the Bank and its related operations, and oversaw the establishment of the strategic platform on which the Group is moving forward.

Happy has significant experience in the financial services and banking industries.

She is the National President of the Businesswomen’s Association of South Africa, a non-executive director of the Small Enterprise Finance Agency SOC Limited (SEFA) and a member of the China Europe International Business School (CEIBS)Africa International Advisory Board.

Commenting on the appointments, Louis von Zeuner, chairman of the Group stated; “the Board welcomes the appointment of Brian and Happy. Brian’s considerable experience as seasoned banker and Happy’s wide ranging business and banking experience will complement the skills set of the Bank and ABH boards”.

President Ramaphosa appoints Deputy President Mabuza as Special Envoy to Russia

President Cyril Ramaphosa has appointed Deputy President David Mabuza as his Special Envoy to the Russian Federation, where he will, among other things, meet with President Vladimir Putin in Russia. The Deputy President will therefore meet President Putin in Moscow tomorrow, 15 May 2018, to amongst others, convey President Ramaphosa’s message of congratulation to President Putin on his re-election in March and his subsequent inauguration on 7 May 2018 as President of the Russian Federation. President Ramaphosa looks forward to further strengthening the already existing political, economic and trade ties between South Africa and Russia. These relations are underpinned by the common values the two countries share with regard to respect for the rule of law in international relations, multilateralism, the central role of the United Nations in global governance, the primary role of the United Nations Security Council in the maintenance of global peace and security, the development of bilateral relations on the basis of equality, reciprocity, mutual benefit and respect for sovereignty and territorial integrity of states. The President will host his Russian counterpart as well as other Heads of State of the Brazil Russia India China South Africa (BRICS) bloc of nations at the forthcoming BRICS Summit in South Africa from 25-27 July 2018. Media enquiries: Khusela Diko, Spokesperson to the President on 072 854 5707 Issued by: The Presidency Pretoria

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The Northern Business Review is a business community newspaper that provides a platform for businesses to market their products and services, as well as build their brand, but equally important the publication provides information, advice and topics of interest, including business, entrepreneurial, economic reviews and simple ideas to grow your business. The publication has a primary objective to “uniquely” represent businesses to a wide audience across the community as well as provide a media platform of business articles and information that affect, influence and uplift the business environment within our defined geographical and cultural community.

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The dti to Promote local Agro-processing products and services in China

The Department of Trade and Industry (the dti) will lead a delegation of twenty-three local companies from the agro-processing sector to Shanghai, China to promote local products and services at the annual SIAL China International Trade Fair for Food that will take place from 16-18 May 2018. The Minister of Trade and Industry, Dr Rob Davies says that the SIAL China International Trade Fair for Food is the largest Asian food fair and offers South African companies keen on promoting their products and services in foreign markets with the best platform to boosting their visibility in the region. “China ranks as the largest consumer of food and beverages with an estimated value of over one trillion Euros. It is projected to grow rapidly over the next two-decades. The rising levels of Chinese disposable income, increases in retail sales of consumer goods and remarkable growth for South African products such as wines puts us in a unique position to make inroads into this lucrative market,” says Davies. Davies further adds that companies showcasing at SIAL will be in a position to establish contact with food manufacturers, distributors, importers, wholesalers and retailers, as well as representatives of institutional and commercial catering companies. “SIAL China will offer our businesspeople with a unique opportunity to meeting market leaders of the food, beverage and hospitality industry in China, where they will establish new contacts and identify suppliers and business partners. The accompanying conference will also cover knowledge and information exchange between industry experts on current issues, trends and future prospects,” he said. SIAL China is a leading platform for international producers and manufacturers of food products, wines, spirits and food service equipment. Enquiries: Sidwell Medupe-Departmental Spokesperson Tel: (012) 394 1650 Mobile: 079 492 1774 E-mail: MSMedupe@thedti.gov.za Issued by: The Department of Trade and Industry Follow us on Twitter: @the_dti

About Us

The Northern Business Review is a business community newspaper that provides a platform for businesses to market their products and services, as well as build their brand, but equally important the publication provides information, advice and topics of interest, including business, entrepreneurial, economic reviews and simple ideas to grow your business. The publication has a primary objective to “uniquely” represent businesses to a wide audience across the community as well as provide a media platform of business articles and information that affect, influence and uplift the business environment within our defined geographical and cultural community.

@NsabasiNBR

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Cash flow an issue? 5 Top tips to keep the cash flowing

By Magnus Nmonwu (https://goo.gl/xYCREh), Regional Director for Sage (www.Sage.com/africa) in West Africa
LAGOS, Nigeria, March 22, 2018/ — Cash flow problems—more money going out of the business than is coming in— are among the most significant reasons that Nigerian companies go out of business. Cash flow isn’t simply about sales or profits—it’s also about your business expenditure and your ability to collect money owing to you. It is possible to have a good profit margin or experience great revenue growth, yet run into cash flow problems. For example, you will not be able to pay your rent on time or afford to buy stock because you’re waiting for customers who owe you large amounts of money to pay. Or your pricing might be too low for your overheads. Here are some ways to take control of your cash flow: 1. Monitor your cash flow Managing your cash flow starts with understanding it better. Look closely at the transactions in your business to understand your monthly income and expenses. What are your major costs each month—rent, salaries, stock, electricity, taxes and so on—and when do you pay them? How quickly are your customers paying you? Rather than using an Excel spreadsheet or your bank statements to track cash flow, consider investing in an accounting solution. A good software package will allow you to generate cash flow statements at a push of a button, where you can see cash flow into the business (customer payments, supplier refunds, tax refunds and so on) and out of the business (expenses and payments). You’ll know that you have an accurate and up-to-date view of your cash position. 2. Keep a cash flow forecast Generate a cash flow forecast and set targets for the next six to 12 months. Again, an automated software solution will enable you to generate a cash flow forecast. It should allow you to manually tweak parameters and numbers to cater for anticipated changes such as seasonal variations in sales or annual supplier price increases. This will enable you to make predictions about the gap between your income and expenses and, if appropriate, take corrective action. 3. Keep on top of billing Send out invoices promptly and be quick to chase overdue bills. It’s also worth setting out clear payment terms with suppliers from the start of doing business with them. Get to know your customer payment dates and don’t ignore irregularities or delays – a poor paying customer might be about to go out of business. Knowing when you’re due to be paid will help you keep on top of your cash flow. 4. Stay friendly with lenders Many businesses need a cash boost from a bank or lender every now and again, particularly when they’re starting out, and might need credit or an overdraft to get up and running. Stay on good terms with them and keep them informed of any unforeseen outgoings or changes in forecasts. By developing a good relationship, based on trust, with banks and lenders, they’ll be more likely to treat you favourably should your business need future financial assistance. 5. Tighten up on your outgoing payments Assess the frequency with which you pay suppliers, tax bills, utilities and so on – is it possible to pay in instalments or make terms more flexible? Use your powers of negotiation to strike deals that are favourable to your business. Also, check on all those little things you spend money on that can add up, with a view to identifying easy cost-saving opportunities. Closing words By keeping on top of your cash flow you’ll be able to deal with problems quickly and efficiently. If worried, talk to an accountant, investor or business mentor. The right accounting software can give you a bird’s-eye view of your business and help you stay on top of everything accounts related. It will help you manage your cash flow easily and effectively, ensuring your business is kept in the best possible financial position, before it becomes a problem. By Magnus Nmonwu (https://goo.gl/xYCREh), Regional Director for Sage (www.Sage.com/africa) in West Africa Distributed by APO Group on behalf of Sage. View multimedia content For media queries: Thuli Lamani Tel: +27 (0)11 803 0030 Mobile: +27 (0)83 716 2572 ThuliL@IdeaEngineers.co.za Del-Mari Roberts Tel:  +27 (0)11 803 0030 Mobile: +27 (0)72 5958 053 DelMari@IdeaEngineers.co.za Idea Engineers (PR agency for Sage)

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The Northern Business Review is a business community newspaper that provides a platform for businesses to market their products and services, as well as build their brand, but equally important the publication provides information, advice and topics of interest, including business, entrepreneurial, economic reviews and simple ideas to grow your business. The publication has a primary objective to “uniquely” represent businesses to a wide audience across the community as well as provide a media platform of business articles and information that affect, influence and uplift the business environment within our defined geographical and cultural community.

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Squeezing generic players on pricing could result in increased medicine shortages

While big pharmaceutical companies continue to stress the need to pay for innovation amid calls for the cost of originator products to be lowered, the generic industry is starting to find its own voice against increasing demands to drop prices that are already low.   In the past decade, generic competition allowed millions of patients access to medicines for key therapeutic areas, however the sustainability of the industry could be threatened by policies that exclusively focus on reducing prices thereby increasing the risk of medicine shortages.   Erik Roos, CEO of generics firm, Pharma Dynamics says cost-cutting measures such as ad-hoc price cuts, external reference pricing, tendering and increased pressure from medical aids have all driven the price of generic medicines to untenably low levels.   “This could force manufacturers and suppliers of generic medicines to withdraw from the market, thus hampering the supply of medicines. At issue isn’t the competition which exist between multiple generic competitors entering the market, which naturally drives down the cost of medicines, but rather when legislators overspend on newer, higher priced innovative medicines and then – in an effort to balance the budget – try to further cut the cost of generic products.   “Winning government tenders often boils down to cost, which forces suppliers of generic medication to push their prices as low as they can. This not only puts their business at risk, but the well-being of patients too, since they are then often reliant on a single manufacturer for a market, which is why we are seeing an increase in supply issues of essential medication, not only in SA, but all over the world. Globally we are witnessing medicine shortages as healthcare budgets continue to come under strain, primarily due to growing and ageing populations, an increased disease burden, especially with regards to non-communicable diseases (NCDs) and the introduction of new, high priced innovative medicines.   “SA’s population has grown exponentially to 57 million in 2018 compared to 49 million ten years ago. This represents a population growth of almost a million a year. As the population grows and ages, the need for medicine increases, while healthcare budgets and margins tighten evermore,” remarks Roos.   Countries such as Romania and Portugal have implemented extreme policies by applying clawbacks (retrieving money, typically by taxation) once product sales reach a certain level, resulting in thousands of pharmaceutical products being withdrawn from the market.   According to the Stop Stockouts Project (SSP) – a civil society coalition that monitors medicine shortages in South Africa’s public health facilities, among the worst affected drugs are antiretrovirals (ARVs) and TB treatments – upon which millions of patients rely. The North-West province has been battling dwindling supplies of ARVs and other essential medication since March this year.   The large pharmaceutical wholesalers in the country also confirmed a shortage of certain vaccines, while some blood products or biologics have also been out of stock for some time.   Roos says regulatory changes can also have a huge impact on the supply of medicines.   “Every change to a product or process must be detailed to and accepted by regulators. Regulatory demands vary, and as a result, costs have increased substantially over the last few years, even though the price of most generic products hasn’t. These changes might be negligible for originators, but for marginally profitable generics, the impact is significant.   “Regulatory amendments can include a change in how a certain class of product should be named in submissions right through to changes in the dosage of a product. The former can cause a delay of six months or longer in the launch of a pharmaceutical product and result in huge losses for the company. The latter could require all products with the same active pharmaceutical ingredient (API) to be removed from pharmacy shelves until the relevant changes to insert leaflets and packaging have been made, also causing a delay of several months.   “Policymakers also don’t realise the extent to which pharmaceutical manufacturing (globally) has been consolidating over the last few years in order to remain profitable. Many of the big generic companies have announced closures of manufacturing facilities resulting in fewer plants producing a single product.   “Addressing the unique challenges that generic pharmaceutical companies face is a priority and an important discussion that must take place between regulators, medical aids, consumers, manufacturers and suppliers.   “To further squeeze generic companies on the cost of already relatively inexpensive products isn’t worth the risk of widespread shortages. Instead, proactive steps should be taken by government to make it easier for generic companies to get products to the market quicker, especially following the expiry of an original brand’s 20-year patent term. This can only be achieved by reviewing SA’s patent law, as currently it continues to protect and extend the monopolies of originator companies by allowing them to extend the period of exclusivity for no further advancement in the molecule. This practice is known as ‘evergreening of patents’ and keeps medicine prices high.   “Enabling more generic competition not only helps to reduce medicine prices, but allows greater access and improved public health. I don’t know of any other industry that can offer a product at half the price as it was the day before. Generics have the ability to reduce the cost of medicine by up to 80% and play a vital role in the healthcare mix,” says Roos. Issued by Meropa Communications on behalf of Pharma Dynamics. For further information, contact Brigitte Taim from Meropa on 021 683 6464, 082 410 8960 or brigittet@meropa.co.za.  

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The Northern Business Review is a business community newspaper that provides a platform for businesses to market their products and services, as well as build their brand, but equally important the publication provides information, advice and topics of interest, including business, entrepreneurial, economic reviews and simple ideas to grow your business. The publication has a primary objective to “uniquely” represent businesses to a wide audience across the community as well as provide a media platform of business articles and information that affect, influence and uplift the business environment within our defined geographical and cultural community.

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