South Africa’s support for the Saharawi people may hurt Sanlam’s billion dollar deal in Morocco

South African insurance and investment company, Sanlam may have a problem pushing through a billion dollar deal in Morocco. Sanlam is in the process of trying to purchase Saham Finances SA, and it may come in to conflict with the South Africans government support of the Saharawi people.

According to fin24.com Moroccan billionaire Othman Benjelloun spoke out on the deal and said “Sanlam’s acquisition of insurer Saham Finances SA”. He further said that  South Africa has chosen the wrong side in a territorial dispute. The South African government last month hosted the Southern African Development Community (SADC) heads of State meeting which was held to show the regions solidarity with the Saharawi.

Benjelloun is very influential and is the chairperson of Morocco’s BMCE Bank. He also called for South Africa to change strategies with regard to Morocco or the deal will receive no support.

 

Source: fin24.com

South Africa investment to be main focus of BRICS Business Council meeting

After Trade and Industry Minister Rob Davies announced the new members of the BRICS Business Council meeting, they discussed the agenda for council this year were it was outlined that a strong focus will be put on securing investment for South Africa.

The BRICS relationship has become strategic for South Africa at the meeting they praised the valuable work the council has made particularly in promotion of practical business to business relations. The council highlighted the most important relationship that can be built in BRICS Business Council is that of investment.

A new focus will be placed on investment in South Africa and South African business, as well as South African companies investing in the other BRICS countries. Strengthening of ties advancing the conversation and coordinating in building the relationship will be the goals of the council.

By Mokgethi Mtezuka

Tata CEO on BRICS institute’s Advisory Board

Len Brand, CEO of Tata Africa Holdings accepted the invitation for a position on the BRICS institute Advisory board. The BRICS Institute is an independent institute, directed by an Advisory Board comprising remarkable leaders from business, the diplomatic corps, government, and academics. 

In accepting the position, Brand has dedicated himself to assist in developing world-class leaders and fostering real economic growth and shared prosperity between China, the BRICS countries and the world.

The Institute is presided over by 20 members who form the Advisory Board, which comprises several subcommittees who focus on research, knowledge development and innovation. The institute works in close collaboration with Regenesys Business School and draws on the support of senior academic, research and consulting staff, representing all the BRICS countries.

The BRICS Institute was launched at Regenesys Business School on the 14th of June 2018.

READ MORE: The BRICS Institute has officially launched

The Tata CEO has said that he is looking forward to making a positive contribution and further said he is certain that his industry expertise will be of benefit to the BRICS institute and its sub-committee members.

 

By: Kgothatso Nkanyane

Brazil’s newly elected President Bolsonaro reverses controversial statements

Brazil newly elected president, Jair Bolsonaro has reversed a number of controversial statements he made during his campaigns for election and after. As soon as Bolsonaro was elected, he pledged to remove the Ministry of Labour and replace with a Ministry of Economy as prepared to announce a new government, by January.  He also pledge to merge the Ministry of Agriculture with Environment.

The newly elected President has since his election reconsidered the statements he made, following a public outrage.

Bolsonaro focused his campaign on combating crime and corruption and that led to him getting elected. However, “his high name recognition was earned by making outrageous remarks disparaging blacks, natives, women, and the LGBT community, and his unpopularity is increased by his calls for intervention by the armed forces and his idolatry for the military, praising infamous characters of the former regime, including Colonel Carlos Alberto Ustra, who had personally tortured Ms. Rousseff and many others with electric shocks and beatings,” writes Patricia Barbeyron, a strategic affairs consultant.

Bolsonaro had to step back statements of scrapping the Paris Environmental Agreement because regional allies warned against the measure.

 

Source: The BRICS Post

President Cyril Ramaphosa takes part in SA-EU Summit

The 7th SA-EU Summit took place yesterday in Brussels, Belgium. South African President Cyril Ramaphosa co-chaired the summit with the President of the European Council, Mr Donald Tusk, and the President of the European Commission, Mr Jean-Claude Juncker.

The Summit follows President Ramaphosa addressing the European Parliament the day before, SA-EU summit was initiated as part of a signed agreement between South Africa and European Union to further strategic cooperation in terms of regional, African and Global Issues.

This year’s summit will look at ways in which SA-EU relations can be expanded and intensified.  The European Union also pledged to contribute R1.3 Billion to South Africa’s Infrastructure development programme.

The focus points of the summit will be economic, trade, investment, and developing cooperation; looking at challenges faced in climate change, migration and human rights; as well as expanding multilateralism.

By Mokgethi Mtezuka’

 

DISCOP Joburg 2018

DISCOP Joburg is a market expo taking place 14-16 November 2018 at the Sandton Convention Centre. DISCOP markets bring together buyers, sellers and independent producers of film, television and digital content.

The markets will have meetings of delegates seeking to buy and sell content, raise funding for works in progress and invest in projects.

The DISCOP Joburg will also host a BRICS session where a panel will discuss if there “Is a BRICS coproduction model”. This session will examine the opportunities and challenges lying ahead of a coproduction and distribution treaty that would facilitate relationships between the Film and Television professionals from Brazil, Russia, India, China and South Africa.

DISCOP markets take place three times a year held in strategic regional industry hubs,  (1) Johannesburg (South Africa) with a special focus on Anglophone, Lusophone and Swahili-speaking Africa; (2) Sharm El Sheikh (Egypt) with a special focus on Northern Africa and the Middle East; and (3) Abidjan (Cote d’Ivoire) with a special focus on Francophone Africa.

By Mokgethi Mtezuka’

AfricaCom 2018

AfricaCom is a conference and exhibition that brings together people involved in the telecommunication and technology throughout Africa, the event which taking place 13-15 November 2018 at the Cape Town International Convention Centre will have 14,000 attendees, 450 speakers and 400 exhibitors.

AfricaCom 2018 is one of the most important events with regards to telecommunications and technology in Africa. It is a global stage were great mind meet, bringing all of Africa together in to one place in order to advance the continent on new technologies, trends, ideas and innovations.

The event will host two large exhibition centres, speakers at the event encompass leaders in their fields from Africa, the event will also show case the latest in Information technology, Artificial intelligence, the incoming 5G network, financial technology, virtual reality and a video forum.

By Mokgethi Mtezuka

African Investment Forum

Yesterday saw the Sandton Convention Centre host the start of a 3 day African Investment Forum (AIF), the forum which has closed the streets of Sandton, brought together African politicians and business men with the purpose of linking African investors well as international investors.

The forum lead by the African development bank is hoping to promote economic and social development across the continent. The second goal of the forum is to establish Africa as an investment destination not just a developmental destination. The third goal is promote in both private and public investment.

The forum is also looking at advancing projects with the ability to change the economic situations in the areas where they are implemented, by funding or raising capital for these projects according to africainvestmentforum.com.

The meeting which will hold many panelled discussion on investment, as well as advancing capital, strengthening intercontinental investment, transitioning Africa from aid to development and poverty to prosperity, and creating a sustainable transacting Africa.

Many banking institutions were also represented on the first day of the forum, these include the Development Bank of Southern Africa, Islamic Development Bank and The Trade Finance Bank for Africa just to name a few, the forum will end on Friday 9 November.

By Mokegthi Mtezuka’

International Consumer Electronics Expo #iceesa2018

The International Consumer Electronics Expo South Africa launched yesterday at the Sandton Convention Centre, the expo which will run until Friday is aimed at bringing light to the rapidly changing world due to the advancements in technology.

The fair allows for business people and ordinary people to be learn the new trends that are happening in consumer electronics, so they can adapted to new technologies as well as use them in their operations or daily lives. The expo will also highlight the coming 4th industrial revolution on how humans engage with technology.

The expo will also be showcasing the 5th industrial revolution which is about how technology interacts with human beings and how we can make technology more human like. The fair is a great place to see the latest gadget that will be in retail stores soon, as well as showing off some new innovative ideas.

By Mokgethi Mtezuka’

Cape to Cairo: connecting the African continent

Image: Cape Town
Credit: Travelstart

The motto, “From Cape to Cairo”, has been a popular term of reference about integrating the African continent by making all African countries easily accessible and allowing for the fluid movement of people and goods.

Addressing delegates to an Africa Business Forum in Johannesburg last year, Minister of Trade and Industry Rob Davies said: “As the government of South Africa, we categorically stated that the development of infrastructure is an essential and absolutely fundamental catalyst for regional integration, for increased inter-regional trade and for industrialisation in Africa.

Therefore, infrastructure development lies at the very heart of our efforts to promote high levels of inclusive growth and development throughout the continent.”

Davies added that the African continent has an infrastructure deficit that’s estimated at $93 billion per annum for the next 20 years. He highlighted the urgent need for Africa to develop its infrastructure in order to boost the continent’s growth and efficiency, and ensure its competitiveness in the future.

Through its diplomacy and philosophy of ubuntu, South Africa seeks to pursue bilateral co-operation with African countries, as well as trilateral co-operation with international partners, in order to support its development.

Read full article in BRICS Journal print issue 6