The NBD has the potential to reshape the world of development finance

 The New Development Bank has the potential to change the world of development finance, says Professor Karin Costa Vazquez, in an article on the Financial Express.

Prof. Vazquez is the Assistant Dean for Global Engagement, Executive Director, Center for African, Latin American and Caribbean Studies at School of International Affairs, O.P Jindal Global University.

The NDB has been in operation for less than four years, however, it has thus far received an AA+ rating international credit rating and built a portfolio of 35 projects worth USD 9.2 billion – nearly half the World Bank’s lending in 2018, reports the Financial Express.

READ MORE: S&P rates Brics New Development Bank AA+

The Professor outlined the key features that set the NBD part; the bank is committed to close the infrastructure gap in developing and emerging countries, it is focused on sustainable development and the bank’s equity in power-sharing.

 

By: Kgothatso Nkanyane

Trump visits Japan, North Korea resumes missile testing

US President Donald Trump travelled to Japan to meet with Prime Minister Shino Abe for a four day visit which started on Saturday. On the agenda will be the new US-Japan trade deal, the new raising in tension with North Korea.

The US-North Korea deal seems to be back in the improbable category even though Trump has claimed that there is still a chance for a deal. North Korea on the other hand has returned to testing its missile which is a further indication of a no deal situation.

Japan is the US’s closest Asian partner with military, technology and financial ties link the two countries since the Second World War, North Korea’s missile test is very worrisome for Japan due its proximity, while Trump and South Korea have done played the recent aggressions by not calling out Kim Jong-un.

Trump’s visit to Japan also serves as good getaway from Washington as there is a push by certain democrats to have him impeached according to CNN.com. With the trade war with China escalating and no deal with North Korea, Japan could be a good place for Trump to score and easy win in Asia.

By Mokgethi Mtezuka

Theresa May’s Resignation leaves more questions on BREXIT.

British Prime Minster Theresa May’s failure to pass any deal on BREXIT has left her with no options but to announce her resignation and is expected to stay in office until the end of July. In her resignation address she stated that she will official resign 7 June and will remain as interim prime minister until the next prime minister is chosen.

Eight possible candidates have been highlighted as possible replacements for May. The most controversial is Boris Johnson who is very divisive not only in his own party, but in the UK and EU. Johnson a Brexiteer is also the bookies favourite for the top job and has many MP’s in his own party planning to block his succession.  

It is expected that Johnson will be more than willing to have a no-deal BREXIT if he becomes Prime Minister. Britain is expected to finally leave the EU 31 October and a no deal situation with EU is now looking to be more than likely given May’s failure. Add with the fact that the British parliament is unable to come to any agreement on BREXIT the next prime minister will face the same challenges as May.

By Mokgethi Mtezuka

 

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