Africa

Uganda keen to do business with SA

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Monday, May 20, 2019

Ugandan business people are keen to conduct business with their South African counterparts.

The Department of Trade and Industry (dti) is currently leading a business delegation on an Outward Trade and Investment Mission (OTIM) to the East African country.

Head of Regional Membership of the Uganda National Chamber of Commerce and Industry, Steven Kabagambe, said the chamber has been working with the dti to create awareness about the OTIM.

“The keenness of the local businesspeople to interact with their counterparts from South Africa is very high. We are looking forward to productive interactions between the south and the east. We are positive that sustainable business relationships, partnerships and linkages will be established during these interactions,” he said.

The mission kicked off in the capital of Kampala on Sunday.

He attributes the high interest in the trade mission by Ugandan businesspeople is due to the fact that South Africa is one of the biggest economies on the continent, adding that the mission presents a golden opportunity for trade and investment partnerships and collaborations.  

“As a chamber we are keen on establishing partnerships amongst businesspeople from various African countries in order to increase intra-Africa trade and investments. Networking opportunities presented by the mission are perfect platforms to achieve this objective.”

He added that businesspeople will be able to share information face-to-face on investment and trade opportunities that they can explore together in each other’s economies.

Kabagambe singled out agro-processing as a sector that is abound with both investment and trade opportunities for South African companies to explore. These include value addition in dairy, beef, poultry, fish, as well as skins and hides industries.

“In fact there are opportunities in the whole of the value chains of various industries here. For an example we require hatcheries, feeds and veterinary services in our poultry sector. The exporting of skins and hides has been banned in this country and this has opened up a whole lot of opportunities for the leather industry value-chain. Opportunities are also up for grabs in our timber, and oil and gas industries,” he said.

The mission is organised and funded by the dti through its Export Marketing and Investment Assistance Scheme (EMIA).

The objective of the scheme is to develop export markets for South African products and services and to recruit new foreign direct investment into the country. More than 1 000 companies were assisted through the scheme in the last financial year. The mission will conclude on Friday. – SAnews.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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the dti to host SA Investment roundtable at the Africa Mining Indaba

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The Department of Trade and Industry (the dti), in collaboration with the Department of Mineral Resources (DMR) and Brand South Africa will host the South African Investment Roundtable on the margins of the 25th annual Investing in the African Mining Indaba in Cape Town on 5 February 2019. Team South Africa’s theme for this year’s Indaba is Invest in South African Mining.

The purpose of the roundtable is to provide potential investors from targeted countries with the opportunity to interact with the South African political and business leadership in order to obtain first-hand information on the issues relating to the South African mining environment. Invited to the roundtable are potential investors from various countries including Canada, United States of America, India, Japan, China, Australia, United Kingdom and Russia. 

The Investing in African Mining Indaba, which takes place from 4-7 February 2019 under the theme, Championing Africa’s Sustainable Economic Development, is a global event that provides a global perspective on the African mining. It is a forum aimed at building and maintaining cross continental business relationships in the mining sector. The event is regarded as the world’s largest gathering of the most influential stakeholders in the African mining industry. These range from financiers, investors, and mining professionals to government officials.

More than 750 investors and dealmakers are expected to be amongst the approximately 7 000 delegates that are expected to descend on Cape Town from across the globe. This makes the Indaba a great platform for networking, deal-making and discovery in the African mining industry.

“The South African government has identified the Mining Indaba as a strategic forum to attract and promote foreign direct investments in different industries of our mining sector.  The Indaba is billed as the largest mining investment event covering the entire value-chain. Our Industrial Policy Action Plan (IPAP) identifies mineral beneficiation as an area of work that presents an abundance of opportunities which investors can take advantage of in order to grow our mining sector. This provides the massive potential of contributing in growing the country’s economy, creating jobs, transformation and eradicating poverty,” says Davies.

He adds that downstream beneficiation of primary minerals contributes substantially to socio-economic development. Davies says the conference is the first after the release of the Mining Charter and that the event will serve as a test of its acceptance by the international mining investors.

“The country’s minerals beneficiation strategy seeks to optimise synergies and linkages between mineral value-chains to promote economic diversification, focusing on industrial capacity development in energy commodities, as well as the iron, steel and titanium value-chains,” concludes Davies.

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

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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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DEPUTY MINISTER MAGWANISHE URGES SA AND TUNISIAN BUSINESSPEOPLE TO INCREASE TRADE

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DEPUTY MINISTER MAGWANISHE URGES SA AND TUNISIAN BUSINESSPEOPLE TO INCREASE TRADE AND INVESTMENT The Deputy Minister of Trade and Industry, Mr Bulelani Magwanishe has urged South African and Tunisian businesspeople to work together in order to increase trade and investment between the two countries. Magwanishe was speaking at the South Africa-Tunisia Business Seminar that was hosted by the South African government in Tunis. The seminar was part of the Outward Trade and Investment Mission organised by the dti. The mission is funded through the department’s Export Marketing and Investment Assistance (EMIA) scheme. “The purpose of this mission is to facilitate interaction between South African and Tunisian companies with a view of establishing mutually beneficial commercial relations.  At the heart of this lies the bilateral trade and investment between the two countries, which are currently disconcertingly low. Our economic relations are characterised by a trade deficit. Trade between South Africa and Tunisia remains low despite growing from R431 million in 2011 to more than R500m in 2017,” said Magwanishe. He then challenged the businesspeople from SA and Tunisia to take advantage of the historically strong and cordial political relations between the two countries to collaborate and partner to increase the levels and volumes of bilateral trade and investments. “This mission serves as an opportunity to strengthen trade relations. The pursuit of the above underscores our commitment to build dynamic economic relations.  We hope that this mission will provide South African companies with a platform to introduce their products into the Tunisian market, and to also serve as a gateway to North Africa. It is also an opportunity for the Tunisians to introduce their products and services to the South African companies and share ideas on investment opportunities that they can jointly take advantage of in South Africa. Additionally, the mission combines our efforts towards job creation, alleviating poverty and eradicating inequality,” added Magwanishe. He said the mission was also aimed at   advancing South Africa’s objectives of intra-Africa trade and regional integration in the continent. ” As South Africa, we remain resolute in fostering closer trade and investment ties with other countries in the continent to yield mutually beneficial economic outcomes. South Africa has always insisted on building developmental and mutually beneficial partnerships with the rest of Africa. We equally appreciate that sustainable growth and development can only be achieved through dynamic partnerships with the private sector. For instance, extensive collaboration between the public and the private sectors can yield infrastructure that is critical for the ease of business,” stressed Magwanishe He added that the private sector was equally pivotal in strengthening the manufacturing sector and producing an industrial economy. “This is a clarion call for both South Africa and Tunisia to forge ahead and strengthen our economic ties.  Therefore, the historical bonds that tie us must translate into tangible economic outcomes. Our bilateral relations will have deeper significance when we grow closer trading relations and build confidence to trade with each other,” concluded Magwanishe  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

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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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AfDP and AIF attract Private Sector Investment into Africa

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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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African Phoenix appoints financial director

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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.

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

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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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Sub-Saharan Africa continues to report the highest youth poverty rates globally at 69 percent

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Sub-Saharan Africa continues to report the highest youth poverty rates globally at 69 percent, ILO Skills and Employment Specialist tells workshop Taking place in Birchwood Hotel, Ekurhuleni, a workshop on Public Employment Services was hosted by South Africa as the current chair of the Southern African Development Community (SADC) Employment and Labour Sector. The workshop aims to address youth employment in the SADC region. The two day workshop under the stewardship of the Department of Labour is held under the theme: “Addressing Youth Employment in the SADC region”. According to Dr Laura Brewer, a Skills & Employment Specialist at the International Labour Organisation (ILO) Pretoria, young workers in the region have one of the highest probabilities of living in poverty in comparison to adults. She says access to education is the primary underlying factor in the decision not to participate in the labour market for 15-19 year olds. According to Dr Brewer, the major challenge for young people aged 20-29 is the lack of decent work opportunities. During the tenure of the workshop, member states will be sharing experiences and challenges, as well as to come up with best practices on how to approach the unemployment phenomena. SADC states intend to hold similar workshops on a yearly basis to achieve more regional cooperation on strategies and interventions for addressing unemployment in the region. The two day meeting will be unpacking the following five issues: enabling PES to link youth with jobs in the formal economy; making public employment services accessible for youth; linking PES with employment opportunities in public employment education or training; youth employment cooperatives in rural and peri-urban areas; and, targeted employment service support for vulnerable groups and people with disabilities. The workshop ends on Wednesday, 14 February 2018. -END- Issued by: Teboho Thejane  Departmental Spokesperson  082 697 0694  

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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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