Why Invest in South Africa
The South Africa of today is one of the most sophisticated and promising emerging markets globally. The unique combination of a highly developed first-world economic infrastructure and a huge emergent market economy has given rise to a strong entrepreneurial and dynamic investment environment. More
8 November 2013
The South African Consulate General in New York and Brand SA co-hosted a luncheon to discuss an in-depth study of South Africa produced by Goldman Sachs entitled “Two Decades of Democracy: What South Africa is Doing with It and What Needs to be Done.” Read more.
Henry Schein Establishes Presence In South Africa With An Investment In The Dental Warehouse
29 October 2013
MELVILLE, N.Y., Oct. 29, 2013 /PRNewswire/ -- Henry Schein, Inc. (NASDAQ: HSIC), the world's largest provider of health care products and services to office-based dental, animal health and medical practitioners, announced today its expansion into South Africa with the acquisition of a minority ownership position in The Dental Warehouse, a leading distributor of dental consumable merchandise to dentists, private clinics, universities and governmental agencies in the country. Financial and other terms of the transaction were not disclosed.
With headquarters in Johannesburg and sales offices in Cape Town, Durban, Pretoria and Springs, The Dental Warehouse has 64 employees and annual revenues of approximately $10 million. Under the leadership of co-founders Louis Ichikowitz and Bernice Ichikowitz, the company offers branded consumables products and enjoys exclusive relationships with multiple manufacturers. Read full article from the Wall Street Journal.
SKA’s first phase could bring in R18bn for South Africa
by Agency Staff, October 29 2013, 10:29
The first phase of the Square Kilometer Array (SKA) radio telescope in the Karoo could see an inflow of R18bn, says Science and Technology Minister Derek Hanekom.
"Preliminary estimates for the operations cost put the potential net foreign inflow ... into South Africa, for SKA phase one only, at close to R18bn over the lifetime of the project," he said in a written reply to a parliamentary question. Read full article.
Fab.com launches curated South African Design Pop-Up Shop at the South African Consulate General
9 October 2013
Fab launched its South African Design Pop-Up Shop, a virtual boutique consisting of unique, retail works of more than 25 South African-based designers. The collection, ranging from furniture, home accessories, jewelry to apparel was unveiled at a special event in collaboration with the South African Consulate General in New York City.
Photo credit: Shahar Azran
Sasol cracks major U.S. fracking deal
by Lisa Steyn
A $20-billion investment in a facility in Louisiana, prompted by the North American shale boom, will be a world first in some respects.
It will be Sasol’s largest investment yet; the biggest single investment in Louisiana’s history; and the largest foreign direct investor manufacturing project in the history of the United States.
Sasol’s move to join the boom in hydraulic fracturing, or fracking, that is transforming the energy landscape in the U.S. comes as the South African government prepares to grant the first prospecting licences here. Read full article.
Sasol Seeks Cash for $7 Billion Dixie Dream: South Africa Credit
By Kevin Crowley
16 September 2013 6:31 AM ET
South Africa’s Sasol Ltd. is seeking project finance and loans, and may also sell bonds in the U.S., to fund a petrochemical plant in Louisiana costing as much as $7 billion, the chief executive officer said.
Sasol needs to raise $5 billion to $7 billion to build a cracker near Lake Charles, Louisiana, which will convert ethane natural gas to ethylene, used to produce raw materials for goods such as paint and detergents, and start up in 2017, CEO David Constable said. Read full story.
South Africa's Aspen says talks with GSK over thrombosis drugs continues
5 September 2013
South Africa's biggest generic drug maker Aspen Pharmacare said on 5 September 2013 that talks with Britain's GlaxoSmithKline about its $700 bid for drugs and a factory continues. Read story.
South Africa’s David Tlale Returns to New York Fashion Week
NEW YORK CITY (September 4, 2013) -- Brand South Africa is proud to present David Tlale at the Mercedes-Benz New York Fashion Week. Tlale, a renowned South African designer, presented his 2014 spring collection at The Box on 5 September 2013. This is his third presentation at Lincoln Center as a solo design house, where he showcased what Mercedes-Benz Fashion Week described as work that is “both daring and dramatic—a brand that defies convention and a brand that impenitently employs unpredictable use and understanding of fabric, color and texture.” Read full press release.
Brand SA congratulates David Tlale
5 September 2013
Brand South Africa on Wednesday congratulated South African award winning designer David Tlale on his showing at the Mercedes Benz New York Fashion Week.
Brand South Africa CEO Miller Matola said in a statement: "New York Fashion Week is a significant platform in the global world of fashion, on which designers profile their collections for the forthcoming season.
"Brand South Africa congratulates David Tlale on his successful showing at the 2013 New York Fashion Week and we are proud of him for flying our national flag in New York." Read full article.
28-30 August 2013
Consul General George Monyemengene, Consul Gugulethu Gingqi and Ms. Bing Alo-Villareal visited the State of Kentucky to attend its Annual World Trade Day and Worldfest events in Louisville, KY from 28-30 August 2013. They met with senior officers of the Kentucky World Trade Center, the Louisville Office for Globalization, and ISCO Industries.
On 28 August 2013, Consul General George Monyemangene met with Kentucky Governor Steve Beshear and Secretary Larry Hayes at Frankfort. The Consul General extended an invitation for the State of Kentucky to undertake a trade mission to South Africa and to co-host a business seminar on "Doing business with South Africa and Africa" in the future. View more photographs.
Banks get in on South Africa's power boom
29 August 2013
Investec Plc announced on Wednesday, 28 August 2013, that it was leading the financing of two South African gas power plants being developed by French company GDF Suez, marking the first major non-renewable independent power projects to be financed by South African institutions.
Construction of the two two greenfield open-cycle turbine power plants, the 670-megawatt (MW) Avon plant in KwaZulu-Natal, and the 335 MW Dedisa plant in the Eastern Cape, has commenced. Read full story.
"Africa's greenest hotel" opens its doors
29 August 2013
South African hospitality group Bon Hotels has opened what it says is the continent's greenest hotel.
The R170-million, 145-room Hotel Verde, situated 400 meters from Cape Town International Airport, was officially opened on Tuesday, 27 August 2013 with Bon Hotels saying it aimed to raise environmental awareness and help preserve the natural wetlands in the area around the airport. Read full story.
H&M says will open first store in South Africa
Swedish cheap'n'chic fashion giant H&M will open its first store in South Africa in 2015, its first foray into sub-Saharan Africa, the company announced on Thursday, 28 August 2013.
H&M said it had signed a contract for a store in Johannesburg, but it was also looking into opening in Cape Town as well and therefore it could not say which store would open first. Read full story.
Manufacturing leads GDP rebound
28 August 2013
South Africa's economy rebounded in the second quarter, growing at 3.0 percent compared to 0.9 percent in the first quarter, with manufacturing the main driver of the growth, Statistics SA reported on Tuesday, 27 August 2013.
"The seasonally adjusted real GDP [gross domestic product] at market prices for the second quarter of 2013 increased by an annualized rate of 3.0 percent compared with an increase of 0.9 percent during the first quarter of 2013," Statistics SA said in a statement. Read full story.
by Simon Barber
Platinum has long been South Africa’s top export to the United States. No longer. Right now it’s cars, principally BMWs and Mercedes Benzes, built in South Africa by South Africans. The value of U.S. car imports from South Africa topped $1.25 billion in the first half of this year versus $1.2 billion for platinum group metals, gold and diamonds combined. In the chart bellow, cars ar represented by the red bars and platinum, in unwrought, powder or semi-manufactured form, by the gray.
And here’s we stand in the rankings as a source of U.S. car imports as of June: number 7, well ahead of Italy and Sweden.
Source: USITC’s Dataweb
South Africa in 'world first for brewing'
23 August 2013
Brewing giant SABMiller has begun using South African firm SurePure's liquid photopurification technology, which cuts down on energy costs by using ultraviolet light instead of heat to purify liquids during the brewing process. Read full story.
South Africa unveils modernized customs system
23 August 2013
Finance Minister Pravin Gordhan unveiled a modernized customs management system that will reduce the cost of doing business with South Africa, boost the country's competitiveness and exports, and promote intra-African trade.
Briefing journalists at the South African Revenue Service's (Sars') offices in Johannesburg, Gordhan said the new system had already been implemented, and that early indications were that it had more than halved the time it takes to move goods across South Africa's borders. Read full story.
"Agoa 2.0" to underpin US-Africa growth
14 August 2013
The United States will be looking to work with African experts and leaders on forging an improved "Agoa 2.0" ahead of the planned renewal of the African Growth and Opportunity Act, U.S. Trade Representative Michael Froman told a two-day forum in Addis Ababa, Ethiopia on Monday.
Agoa, which enables 39 eligible sub-Saharan African countries to export most products duty-free to the United States, has seen total African exports to the U.S. more than quadruple, and U.S. exports to sub-Saharan Africa more than triple, since its inception in 2000. Read full story.
New York gains Momentum
by Lihle Mtshali
South African financial services giant, Momentum, has opened an investment management office in New York and plans to launch a new Africa investment fund next month.
The Momentum Africa Fixed Income Fund will be unveiled and introduced to American institutional investors like big pension funds, endowment funds and foundations on 1 September 2013. Read full story.
Mobile transport app launches in South Africa
12 August 2013
U.S. technology company Uber has launched its mobile transport application in South Africa's largest city, Johannesburg, promising to provide an efficient transportation service and to make the city more accessible for its residents and visitors. Read full article.
MiX Telematics' Initial Public Offering at the New York Stock Exchange
9 August 2013
MiX Telematics CEO and Director Stefan Joselowitz rings the closing bell at the New York Stock Exchange to celebrate the company's IPO on August 9, 2013 in New York City.
BMW SA expands export programme
5 August 2013
BMW South Africa has expanded its export programme to facilitate increased production and will export its BMW 3 Series from Maputo in Mozambique, in addition to shipping from the Durban port.
"BMW South Africa has increased its production output with the introduction of a third shift, which was implemented towards the end of last year," BMW South Africa managing director, Bodo Donauer, said in a statement last week. Read full article.
South Africa, U.S. firms in agri-tech hub deal
1 August 2013
DuPont Pioneer, the largest U.S. producer of hybrid seeds, has acquired majority ownership of South Africa's Pannar Seed as the two companies move to advance agricultural research and technological innovation in Africa.
The deal, announced on Wednesday, 31 August 2013, involves the two companies partnering to bring farmers in South Africa and across the rest of the continent more choices and better products in terms of seeds. Read full story.
Discussion on "Doing Business in South Africa"
17 July 2013
A cocktail reception and business discussion on "Doing Business in South Africa" with ABSA's ALD Program delegates was hosted by the South African Consulate General and Brand SA on Wednesday, 17 July 2013.
SA Airways, JetBlue in codeshare pact
31 July 2013
South African Airways (SAA) and US airline JetBlue Airways have struck a codeshare agreement to seamlessly connect the two carriers' African and North American networks via New York's John F Kennedy International Airport, Washington's Dulles International and Johannesburg's OR Tambo International. Read full story.
The first refrigerated vessel, Nagato Reefer, docked on 3 July 2013 at Philadelphia’s Holt Terminal in Gloucester, NJ. Onboard were +/- 245,000 cartons of clementines, navel and cara cara oranges. Some early citrus, including Star Ruby grapefruit arrived in June in containers.
Also onboard was King Citrus, South Africa Summer Citrus’ new friendly mascot. “King Citrus is key to our branding initiative,” said Suhanra Conradie, CEO of the Western Cape Citrus Producers Forum. “South Africa Summer Citrus logo has long included unique elements to South Africa- the lion being the most prominent. King Citrus is a visual extension of its tagline Pride of Our Land – an obvious connection to a pride of lions and an accurate description of pride our growers take in sending premium citrus fruit to the U.S.” Read more.
South Africa wants Agoa for longer
27 June 2013
South Africa will push for an extension of the African Growth and Opportunity Act (Agoa) when US President Barack Obama makes an official visit to the country.
According to Fin24, Agoa, which allows southern African countries to ship certain products to the United States duty free, expires in 2015. However, Trade and Industry Minister Rob Davies said that it would be in the interest of both the African states and the US for the agreement to be extended. Read full article.
Aspen adds $1 bln deal with Merck to drug acquisition drive
JOHANNESBURG (Reuters) - South Africa's Aspen Pharmacare said on Thursday, 27 June 2013, it would acquire drugs and a manufacturing business from U.S. drugmaker Merck in a $1 billion deal to bolster its presence in Europe, Latin America and Asia.
Africa's biggest maker of generic drugs has been on an aggressive acquisition trail this year that has broadened its offering of medicine in fast-growing regions such as Latin America and southeast Asia and lifted its share price. Read full story.
SA takes lion’s share of convention industry
18 June 2013
South Africa had secured 88 international association meetings over the next five years to 2017, according to a report to Parliament on Tuesday by the National Convention Bureau.
These meetings would have an estimated economic impact of R2.6bn and draw about 198,900 delegates to the country, the bureau’s executive manager, Amanda Kotze-Nhlapo, told the tourism portfolio committee. Read full story.
14 June 2013
Burger King Worldwide Inc. (BKW) plans to ramp up expansion in South Africa after opening its first restaurant in the country and enter other parts of the continent to take advantage of a growing middle class.
The maker of the Whopper burger has partnered with Johannesburg-based Grand Parade Investments Ltd. to set up Burger King South Africa and opened its first local outlet in Cape Town last month. That was 18 years after McDonald’s Corp. (MCD) started operating in Africa’s biggest economy and 42 years after YUM! Brands Inc. (YUM)’s fried chicken chain KFC. Read full story.
Buy Sell Invest and Visit (BSIV)
Johannesburg Conference 2013
The City of Johannesburg Conference
“Creating Competitive Advantage for the City and its Business Community”
1 – 3 July 2013
Sandton Convention Centre
Johannesburg, South Africa
The City of Johannesburg’s Department of Economic Development is hosting its first premier Trade and Investment Conference and Exhibition. This is the platform for Johannesburg to present its vision of development and to pitch investment projects in the Infrastructure, Resource, Services and Manufacturing sectors. With a R30 billion budget for infrastructure development over the next three years, The City of Johannesburg will be leading in Africa, linking transport development and creating sustainable and integrated communities.
The conference will provide an excellent platform for business-to-business networking, with high-level delegates from both international and local business expected to attend. In addition, key business influencers will be speaking throughout multiple sessions over the course of the event on the following strategic themes:
- Enhancing the Competitiveness of the City
- Drivers of Growth & Innovation
- Prioritizing Infrastructure, Resources, Services and Manufacturing Investment Opportunities
- The Role of Johannesburg in Regional Integration in Africa
6 June 2013
BlackBerry has opened a new training and business centre for BlackBerry app developers in South Africa.
The Johannesburg hub, launched on Wednesday, 5 June 2013, will be the third of its Apps Labs based in the country, following the creation of others in Cape Town and Pretoria last year.
Members of the new Apps Lab will be able to use the shared workspace, which will be equipped with BlackBerry kit, get help and training, and attend events aimed at BlackBerry World developers.
The Johannesburg Apps Lab will be based at JoziHub, a shared workspace and tech hub in the city centre. BlackBerry's managing director for South Africa and Southern Africa, Alexandra Zagury, said JoziHub was chosen both for its existing community of startups and developers as well as its proximity to the University of Johannesburg and the University of the Wittswaterrand. Read full article.
by Christopher Vourlias
5 June 2013
When the South African delegation arrives at the Annecy toon fest, members will be looking to cement their growing reputation for world-class animation.
“For South Africa, it’s a great year,” says Veronique Encrenaz, head of projects at Annecy’s film market, noting that the country has a feature in competition for the first time, a special territory focus, and a case study for the animated feature “Khumba” as part of the fest’s conference program.
The country’s emergence reflects a broader trend across the continent, as animators from Morocco to Madagascar are showing increasing sophistication in a range of animation, from traditional cel animation to CG, stop-motion and 3D.
4 June 2013
Grant Thornton has doubled the size of its Johannesburg office through a merger with PKF, significantly expanded its presence in Indonesia through a strategic alliance with PT GNV Consulting Services and increased the size of Senegal operations through a merger with Excellence Consulting Group. This follows earlier 2013 mergers in Italy and South Africa. Read full story.
By Caitlin McCabe
Thursday, 30 May 2013
South African Ambassador Ebrahim Rasool addressed a room of local businesspeople on Thursday, 30 May 2013, asking them to do just one thing: a simple craft project.
“Find an old map you have to waste, cut out the USA and put it on top of Africa,” the ambassador of South Africa to the U.S. said.
“What you will find is that all of the USA only fits into the Sahara Desert,” he said. “That’s how big Africa is. That’s how big its opportunity is.”
Rasool spoke at a luncheon hosted by the World Affairs Council of Charlotte, imploring local leaders to consider the economic opportunities in South Africa. Read full story.
2 June 2013
Search engine giant Google has invested R103-million in the Jasper power project, a 96 megawatt solar photovoltaic plant near Upington in South Africa's Northern Cape province, the organization announced on Thursday.
The project will be developed and funded by US solar energy project development firm SolarReserve, wind and solar farm developer Intikon Energy and empowerment investment company the Kensani Group. Read full story.
29 May 2013
SMA Solar Technology AG (S92), Germany’s biggest solar-energy company by market value, plans to make products in South Africa as it targets growth there.
SMA, the biggest maker of inverters that convert power from solar panels for use on the grid, seeks to set up a factory in South Africa to meet local-content requirements and tap into the country’s growing energy market, the Niestetal-based company said in a statement. Read full story.
22 May 2013
South African mobile telecommunications operator MTN was the only African brand to be ranked in the Millward Brown BrandZ Top 100 Most Valuable Global Brands 2013 survey released on Tuesday, 21 May 2013.
MTN rose nine places to 79th in the eighth edition of the international research agency's annual survey, with its overall brand value increasing by 23% to US$11.40-billion. MTN made its debut on the list in 2012 in 88th spot. Read full story.
14 May 2013
The South African film industry contributes R3.5-billion annually to the country's gross domestic product (GDP), while providing employment for more than 25,000 people, according to a new impact study on the industry. Read full story.
South Africa is a promising investment destination, business executives from companies from around the world said on the sidelines of the World Economic Forum on Africa in Cape Town this week.
"The [African] continent and particularly South Africa is a very promising, interesting destination for investments," said Pedro Pereira da Silva, chief operating officer and country manager Poland and Portugal for Jeronimo Martins Dystrybucja.
Pereira da Silva is one of over 600 business leaders attending the two-day forum, which ends on Friday, 10 May 2013..
He said with Europe's continuing gloomy outlook, the Portuguese food distribution and manufacturing group was looking at growing markets like Africa and South America to expand. Read full article.
Business and finance technology research firm DigitalOlympus.com has commented on a recent CNN report about the new Procter & Gamble (P&G) $170 million investment drive in South Africa. Read more.
59 West 49th Street (between 5th and 6th Avenues)
New York, NY 10112
Tel: +1 (212) 239 3070
South African luxury brandy producer Oude Meester, which forms part of the Distell family brand, gained traction in a US market untapped by local producers when it won three medals at the San Francisco World Spirits Competition in March.
The most senior of the Oude Meester range, the 18-year-old Oude Meester Souverein, won a gold medal, while the Demant and Demant 12 Year Old Reserve both won silver medals. Read more.
South Africa has reached a deal valued at several billion dollars to build and repair ships at its Richards Bay port with China's Chery Holdings, affiliated with the automaker, according to documents obtained by Reuters on Wednesday, 27 March 2013.
The final terms of the deal were being worked out at a meeting of the leaders of the BRICS emerging market powers in the South African coastal city of Durban, a senior South African government official said.
Other partners include South Africa's Industrial Development Corporation, the China Development Bank, the China Africa Development Fund and Imbani Holdings. Read full story.
20 March 2013
South Africa, the eighth-biggest wine producer, is seeking to regain a foothold in the U.S. market lost to imports from Australia to Argentina by promoting brands at Wal-Mart (WMT) Stores Inc. and Whole Foods Market Inc. (WFM)
“We used to have a quite substantial market presence in the U.S. and it went all the way down,” George Monyemangene, the Consul General of South Africa in New York, said in an interview at Bloomberg’s headquarters. “Maybe we were not as responsive as we should have been to newcomers.” Read full story.
19 March 2013
American agricultural equipment manufacturer AGCO and its local partners have opened an African master parts distribution center in Johannesburg to build the company's sub-Saharan African network.
"AGCO's new state-of-the-art warehouse will allow us to better serve our customers in sub-Saharan Africa with high-quality products and services," AGCO CEO Martin Richenhagen said at the official opening of the center on Friday, 15 March 2013. Read full story.
18 March 2013
Procter & Gamble (P&G) is to invest more than R1.6-billion in a new manufacturing plant in South Africa as the global consumer goods group moves to make the country its manufacturing hub for southern and eastern Africa.
"South Africa is the most advanced economy in Africa and represents an attractive investment destination with good infrastructure," Dimitri Panayotopoulos, P&G's vice-chairman in charge of global business units, told a media conference held jointly with Trade and Industry Minister Rob Davies in Johannesburg on Friday, 15 March 2013. Read full story.
18 March 2013
Volkswagen Group South Africa officially opened a R500-million state-of-the-art press shop at its manufacturing plant in Uitenhage in the Eastern Cape on Friday.
Hubert Waltl, Volkswagen Group SA's board chairman, said the opening of the press shop "reiterates our commitment to Volkswagen South Africa and South Africa.It also marks the culmination of our investment in enhancing the position of Volkswagen South Africa as one of our key manufacturing plants within the Volkswagen production network." Read full story
With $21bn capex plan, Sasol is poised to become Louisiana's largest foreign investor
11 March 2013
South African energy and chemicals group Sasol is preparing to invest the equivalent of around two-thirds of its current market capitalization into three major projects in the US over the coming seven years, which could also position it as the State of Louisiana’s largest foreign direct investor.
The group’s market capitalization current stands at around R263-billion and the three North American projects collectively represent possible capital expenditure (capex) of between R146 billion ($16-billion) and R192 billion ($21-billion), at current rand/dollar exchange rates.
The group is pursuing a $5 billion to $7 billion ethane cracker project in Lake Charles, which is situated near to the US Gulf Coast and within close proximity to existing gas and logistics infrastructure. Read full story.
7 March 2013
Mining giant BHP Billiton has unveiled a new R1-billion furnace at Samancor Manganese's Metalloys smelter in Meyerton, south of Johannesburg, as the company moves to support the government's drive to increase metals beneficiation in South Africa. Read full article.
By Jiwon Lee
Tuesday, March 5, 2013
South Africa is a nation with a history of which to be proud and the potential for more progress, said former anti-apartheid activist Colin Coleman in a Monday afternoon talk.
Coleman, who is now head of the sub-Saharan Africa division of Goldman Sachs, addressed South Africa’s political and economic transformations in the post-apartheid era since 1994 to an audience of roughly 50 students and community members. Having served as the executive director of the Consultative Business Movement — an organization that incorporated businesses in helping to end apartheid — Coleman said the successful democratization of South Africa resulted from the collaborative effort of members of civil society and strong political leaders. Read full article.
6 March 2013
Tourist arrivals to South Africa increased 10.4% between January and October last year compared with the same period in 2011, helped by a growing number of German visitors, according to the Department of Tourism. Read full story.
28 February 2013
South Africa remains the most attractive country in Africa in which to do business despite serious knocks to investor confidence during the past few months, two separate surveys showed on Wednesday.
This upbeat message is surprising in the face of the unrest which swept through the country’s mining and agricultural sectors, and given investor concerns over the prospect of even more state intervention in the economy.
South Africa moved up a notch to rank 14th out of 27 countries in a global emerging markets opportunity index, and remains the highest rated economy on the African continent, according to research compiled by business services company Grant Thornton. Read full story.
South Africa is starting to make its mark in the world of digital animation and will this year release its second full-length animated feature, Khumba, created by Cape Town’s Triggerfish studios.
This follows the local industry’s first animated film, Triggerfish’s Adventures of Zambezia, which proved to be the most successful African film export since The Gods Must Be Crazy, released more than 30 years ago. It is also the first African film to have received two nominations for the Annie Awards, the animation industry’s Oscars. Read full story.
15 February 2013
Intercontinental Hotel Downtown Miami
Made possible by the South African Consulate General in New York, Enterprise Florida and the Economic Development and International Trade Unit of Miami-Dade County
Celebrate South Africa in Wilmington, Delaware at the Midatlantic Wine + Food Festival
6 March to 10 March 2013
A weekened of culinary adventures that include events with a regional focus on South African wine, food, music, art and culture. Featuring appearances by visiting South African personalities Chef Hugo Uys, Chef Pierre Van Zyl, Auoin Rock Winemaker Thys Lombard, and products such as Wines of South Africa, Brand South Africa, South African Summer Citrus, Cape Food and Beverage, Peppadew USA and other.
For more information and tickets, please go to MIDATLANTIC Food+Wine FESTIVAL.
Kwazulu Natal Delegation at NYSE Euronext1 February 2013
24 January 2013
South Africa's Sommelier
Eight years ago, Luvo Ntezo was working as a dishwasher. Now, as Cape Town's most trusted authority on wine, he's a symbol of the country's distinctive postapartheid viniculture Read full story.
16 January 2013
South African entrepreneur Mark Shuttleworth is planning to bring his Ubuntu operating system (OS) to smartphones, allowing the little devices to work as fully functional Ubuntu desktops when docked and connected to a monitor and keyboard.
Shuttleworth, known since April 2002 as Africa's first space tourist, is the founder and former chief executive officer of Canonical, a London-based open-source software developer with offices in seven countries including China and Taiwan, although it operates in over 30 countries.
16 January 2013
Five South African companies are named on the Boston Consulting Group's list of "100 global challengers" - companies from emerging markets that are "growing so quickly overseas that they are reshaping industries and surpassing many traditional multinational companies".
South Africa increased its number of "challenger" companies from three in 2011 to five on the 2013 list released by the US management consultancy on Tuesday.
The five, all members of the the JSE's top 40, are pharmaceutical company Aspen Pharmacare, services, trading and distribution group Bidvest, mobile telecommunications firm MTN, media group Naspers, and petrochemicals company Sasol. Aspen, MTN and Naspers are newcomers to the list. Read full article.
Adding Value to Business Tourism
Amanda Kotze-Nhlapo wants to see a lot more international meetings being held in South Africa.
As head of South Africa’s first convention organization, the National Convention Bureau (NCB), she is working on plans to make South Africa a destination of choice for business tourism.
The NCB is an entity of South African Tourism that markets South Africa as a preferred destination for meetings, incentive, conference or exhibition (MICE) events. It also provides assistance with information and gives advice on aspects of hosting and organizing business-tourism-related events in South Africa. As a parent body to the existing convention centres in the country, the NCB works closely with these centers to coordinate national bidding and ensure that all convention centers are on the same page. Read full article.
Growing the Tourism Sector
South Africa is one of the top leisure destinations in the world. With its rich diversity and culture, and pictureperfect scenery, our country has a lot to offer avid travelers.
Every year around this time, the spotlight falls on the tourism sector and focuses on its social, cultural, political and economic value. In the spirit of Tourism Month, PSM thought it fitting, then, to speak to the man at the helm of South Africa’s Department of Tourism.
We meet the Department of Tourism’s Director-General (DG), Ambassador Kingsley Makhubela, in his immaculate office, beautifully decorated with rich dark brown furniture, with a splash of blue coming from the couches. Makhubela, who spent most of his public service career as a diplomat serving in Europe and Africa, shared with PSM his department’s goals to grow the country’s tourism. Read full article.
Swedish engineering group Sandvik AB (SAND.SK) said Wednesday its mining unit signed a SEK650 million ($100 million) deal with Sasol Mining (Pty) Ltd. for the Shondoni Mine Materials Handling project in South Africa. Read more
We now put out the call for the Tribeca Film Festival in New York City. The event takes place between 17th and 28th April 2013.
The Cape Film Commission (CFC) along with the Gauteng Film Commission (GFC) and the Durban Film Office (DFO), in collaboration with the South African Consulate General in New York and the Department of Trade and Industry (DTI) is embarking on a joint venture to take a delegation of South African filmmakers to the 2013 Tribeca Film Festival. Read more.
2013 Exhibitor Kit — Your One-Stop Resource for a Smooth, Successful Show
The Exhibitor Kit, your one-stop resource for the Progressive Insurance Strictly Sail Miami Boat Show, is now available online. Please visit Exhibitor Only tab on StrictlySailMiami.com for everything needed to help make your experience at the show a successful one. Read more.
WESTLAKE, La. — In an ambitious bet that the glut of cheap natural gas in the United States will last for many years, a South African energy company announced on Monday that it would build America’s first commercial plant to convert natural gas to diesel and other liquid fuels. Read full story from the New York Times.
After a South African delegation attended Robert De Niro’s Tribeca Film Festival in April 2012, it was announced that Cape Town will host the festival for five years starting in 2013.
The festival, which was founded by the award-winning actor following the World Trade Center tragedy in 2001, attracts nearly three million people including celebrities from film, art and music. It is reported to generate more than 600 million dollars annually.
A mission organized by the Cape Film Commission, the South African Consulate, the Department of Trade and Industry, the Gauteng Film Commission and the Durban Film Office, saw 22 South African filmmakers attend the festival. They were joined by Gauteng MEC for Arts and Culture, Lebogang Maile, his head of department, the CEO of the Gauteng Film Commission and representatives of the Department of Trade and Industry. Read full story.
5 November 2012
Research In Motion (RIM), the maker of BlackBerry smartphones and tablets, has announced the opening of its second BlackBerry apps lab in South Africa.
The new lab is based in Cape Town and follows on the launch of the BlackBerry apps lab at the University of Pretoria in May this year. Read full story.
4 November 2012
Based in Johannesburg, Tlale has craved out a distinct presence with his unique designs and meticulous detailing. He has shown his wears from Paris to New York City leaving a trail of stellar reviews along the way. Read full story.
25 October 2012
Filmmaker Uga Carlini, President of Towerkop Creations, takes one of two top awards at SUSTAIN OUR AFRICA short film competition.
By cultivating awareness, showcasing inspirational stories and hosting practical tools for change, Sustain our Africa will develop awareness, engender inspiration and action through collaborative dialogue, by showcasing stories of CHANGE and case studies, demonstrating that there are solutions available as for the first time in the history of mankind we have one common cause to fight for. One cause that we all can believe in. One cause that will change us all. This cause supersedes race, colour, status, creed, religion, nation, political belief or ego. The cause is a fight for our collective survival on the only planet we can call home.
Last night saw the line up of the top ten short film finalists being showcased at the Chavonnes Battery Museum & Auditorium. Mark Coetzee, programme director of PUMAVISION /PUMA.CREATIVE and Lynette O’Tim from Tetris Events awarded the audience choice award to Uga Carlini’s GOOD PLANETS ARE HARD TO FIND. Prizes include a fisheye 1 camera from Exposure gallery as well as trip to any film festival in the world of the filmmaker’s choice sponsored by PUMAVISION/PUMA.CREATIVE.
The other judges were Leon Van der Merwe of CWFF and SAO's Brendon Bell-Roberts.
Walmart, South Africa Citrus Growers celebrate benefits of export program
12 October 2012
In celebration of a long-term relationship that brings delicious South African Citrus to U.S. consumers, Walmart has kicked off a week-long celebration of South Africa for consumers at Walmart stores throughout the northeast region. Walmart executives and leaders of South Africa’s Western Cape Citrus Producers Forum (WCCPF) hosted consumers to a “Taste of South Africa” on Friday, October 12, 2012 at the Walmart Supercenter in Levittown, PA.
The Board of Directors of the Overseas Private Investment Corporation (OPIC), the U.S. Government’s development finance institution, approved up to $250 million for the agency’s first solar power project in South Africa, a 60-megawatt plant that will help diversify the country’s electricity generation beyond its heavy coal concentration and in the process displace approximately 140,000 tons of greenhouse gas emissions in its first year alone. Full story.
For years, South Africans wanting clothes from stores such as Zara (ITX) and Topshop could only get them when traveling abroad. Now, they’re available at the local mall as mid-market apparel retailers rush into the country, seeking to create a base for expansion across Africa.
In the last year at least a half-dozen foreign clothing brands, including Superdry, Steve Madden and G-Star, have opened outlets in South Africa. Read more
South Africa has been a popular market for investors, in part because of its defensive characteristics. The resource-rich country is one of the more developed emerging markets and it generates much of its growth internally. Its bond market has also been popular among investors hunting for countries with strong balance sheets and hefty yields. Read full story
Aspen Pharmacare (APNJ.J) said on Wednesday its subsidiary, Aspen Global, will pay 172 million pounds ($269.79 million) for GlaxoSmithKine Plc's (GSK.L) pharmaceutical products distributed in Australia. Read full story.
South Africa: Nestlé Opens R500 Million Factories in South Africa
Swiss multinational food company Nestlé has opened two new factories in the town of Babelegi, north of Pretoria as part of a R500-million investment in its South African operations, creating over 130 permanent jobs in the process. Full story
Certeon and Kathea Sign Partnership Agreement in South Africa
Certeon, the application performance company, today announced a partnership with top South African Communication Solution Provider Kathea. Kathea will resell Certeon's aCelera solution along with its already comprehensive communication portfolio. The partnership promises improved application performance and efficiency for their customers throughout Africa. Full story.
S.Africa's Adcock buys India drug assets for $86 mln
South African drugmaker Adcock Ingram is to buy a portfolio of about 60 medicines and a distribution network from India's Cosme Farma for $86 million to bulk up its presence in the country's $16 billion pharmaceutical market. More
South Africa led the sub-region as foreign direct investment (FDI) inflows into sub-Saharan Africa jumped by 25 percent in 2011, according to the 2012 World Investment Report by the United Nations Conference on Trade and Development (UNCTAD). More
Building Economic Ties Between the QC & Africa
Fox News Rising's Terrance Bates talks with Consul General George Monyemangene about the push to build economic ties between the Queen City and South Africa.
Innovation Africa Summit in Cape Town to Bring Together World Leaders in ICT, Education, and Technology
5 - 7 October 2012
Featuring participation by top level ministers and officials from across Africa as well as representatives of the world´s top technology brands, the Innovation Africa Summit to be held 5-7 October in Cape Town aims to be the networking event of the year, facilitating crucial public-private partnerships to guide the future development of Africa´s fast growing ICT, education, and technology sectors.
Twitter-Activated Vending Machine Launched In South Africa
South African beverage company BOS Ice Tea has launched what may well be the world’s first Twitter-activated vending machine, according to website Memeburn. The BOS ice tea vending machine is called ‘BEV’ and is currently standing at Wembley Square in Cape Town. Anyone who sends a tweet to the machine while standing in front of it will receive a free sample of BOS Ice Tea, a popular organic beverage made in South Africa from Rooibos, an indigenous plant which locals have used to make traditional tea for hundreds of years. Its manufacturers boast that BOS Iced Tea is a ‘deliciously refreshing organic ice tea made entirely in South Africa with enormous integrity and care.’ More
US, South Africa step up trade relationship
By Vicki Needham - 06/18/12 04:18 PM ET
The United States and South Africa are stepping up their trade and investment relationship by vowing to open up a dialogue and remove hurdles.
U.S. Trade Representative Ron Kirk and South Africa Minister of Trade Rob Davies have signed a Trade and Investment Framework Agreement (TIFA), which amends the TIFA signed in 1999, to better address and deepen the trade and investment relations between the two countries.
“This amended agreement will provide a forum to better exchange views on improving the trade and investment climate and promoting new U.S. investment that is critical to South Africa’s economic development,” Kirk said in a statement. More
Africa's time has come, but we must not be complacent
Africa’s growth acceleration has been widespread, with 27 of its 30 largest economies expanding more rapidly after 2000, and also fairly inclusive, with the poorest seeing significant increases in real consumption. More
A journey through South Africa's stunning wine region
By Errol Barnett, CNN
Wed February 1, 2012
Western Cape, South Africa (CNN) -- You can't help but be stunned by the visual splendor when walking around the Western Cape region of South Africa, in towns like Stellenbosch. Immediately you see why this part of the African continent is so well suited for the wine making craft, which was recently my mission for "Inside Africa."
Google launches Web project in South Africa
Getting more small companies wired will help their businesses grow, and help their country fight unemployment, officials said on 19 January 2012 as Google launched a project that makes it easy to showcase South African entrepreneurship on the Internet. More
South African manufacturing growth accelerated in November, strengthening the recovery in Africa’s biggest economy and easing pressure on the central bank to cut interest rates.
"The Beachhouse" is the biggest selling South African wine in the USA
"The Beachhouse" (Sauvignon Blanc Semillon), a wine by Douglas Green and retailing at $10 has made quite a splash in the USA and is now South Africa's biggest selling wine in that country.
Recent Nielsen results in for the 24 weeks ending 2 October 2011 place The Beachhouse in the top spot as the Number One selling South African wine by SKU and Dollar sales in the Grocers, Food, Drug and Package Stores in the USA. More
Top Travel Magazines Name South African Airways "Best Airline to Africa"
South African Airways (SAA), Africa’s most awarded airline, announced that it has won two awards from two prestigious travel magazines. Business Traveler magazine has awarded SAA with the “Best Airline to Africa” and “Best Business Class in Africa” awards, while Global Traveler magazine has named SAA as “Best Airline in Africa” and “Best Sparkling Wine in Business Class.” More
South African Trade Deficit Narrows In November
(29 December 2011) Export of goods increased 11.9 percent month-on-month to ZAR 68.5 billion. Contributing to the growth in shipments, exports of precious and semi-precious stones and metals climbed 26 percent sequentially, while dispatches of chemical and allied products jumped 59 percent. More
Worst Currency Lifts South African Exporters as Growth Slows
(29 December 2011) The world’s biggest major-currency decline is benefiting South Africa’s largest companies as export earnings in dollars rise and commodity producers from AngloGold Ashanti Ltd. to Sasol Ltd. beat peers in the stock market. More
South African High Commission opens Toronto Stock Exchange
Dr. Mohau Pheko, High Commissioner, South African High Commission joined Kevan Cowan, President, TSX Markets and Group Head of Equities, TMX Group to open the the Toronto Stock Exchange on 29 November 2011. The African continent is a major source for more than 60 of the world's most important metals and minerals. Toronto Stock Exchange and TSX Venture Exchange have listed 187 mining companies with 701 properties throughout Africa. For more information on the South African High Commission visit www.southafrica-canada.ca
Bank of America Seen Urging Investors to Reject $6 Offer
On November 22, 2011, IPIC Group, a South African investment company, said it would buy up to $500 million in Bank of America stocks for $6 a share, giving it a 4.9% stake in the bank. The offer expires December 23 but can be extended to March 30, 2012. More
Sasol announced plans to build a $10 billion plant in Louisiana that would convert natural gas into diesel fuel
South Africa-based Sasol Ltd., a chemical company long known for squeezing motor fuel out of coal, is now turning its sights on the glut of natural gas in the U.S. More
Emergence of the South African Film Industry
The South African Consulate General in New York has noted with great interest the emergence of the South African film industry and the recognition that is being shown to it by the international film and film production communities.
Annual General Meeting of The Global Sourcing Council
South African Wine Tasting Seminar
The South African Consulate General (New York, NY), recently partnered with Terry Seitz Inc. (Boca Grande, FL), a leading importer of South African wines, and the American Sommelier (New York, NY) to host a South African Wine Tasting Seminar featuring one of South African’s most respected winemakers, Peter Finlayson, Managing Director of Bouchard Finlayson Vineyard (Hermanus, South Africa), a boutique winery dedicated to the making of Pinot Noir, Chardonnay and Sauvignon Blanc of outstanding quality. More
More World Class Honors go to Terry Seitz Wines
Boca Grande, Florida-based Terry Seitz, Inc,. importers of boutique South African wines have been awarded with the distinction of importing fine wines with world wide honors. More
South African Airways announces the "Ultimate Africa Sale" on sale until 15 November 2011
South African Airways (SAA), Africa’s most awarded airline, announces the “Ultimate Africa Sale,” with fares starting at $910* (plus taxes and fees) round trip, for flights from New York or Washington, DC, to Johannesburg, Cape Town, Durban, East London or Port Elizabeth, in South Africa, or from Washington, DC, to Dakar, Senegal. Flights from New York or Washington, DC, to Nairobi, Kenya; Entebbe, Uganda; Mauritius; Dar es Salaam, Tanzania; Victoria Falls, Zimbabwe; or Livingstone, Zambia; are being offered as low as $1,170* (plus taxes and fees). The “Ultimate Africa Sale” is available for purchase now through Nov. 15th for departures between Nov. 1st and Dec. 9th, 2011, and Jan. 15th through March 31st, 2012. To book, please call 1-800-722-9675, visit www.flysaa.com, or call your travel agent.
*TERMS & CONDITIONS: Fare is round-trip in economy class, includes fuel surcharge and is valid on SAA operated flights from New York (JFK) or Washington (IAD). Seats are limited and may not be available on all flights. Departure taxes and Sept. 11th security fees of up to $240 (depending on itinerary) are additional and payable at time of ticketing. Ticket is non-refundable. $250 change fee applies. Re-routing is not permitted. Offer valid for reservations ticketed on or before November 15, 2011. Valid for departures from the USA between November 1 and December 9, 2011 & January 15 and March 31, 2012. Price is for new bookings only, is subject to availability, may change without notice and is not retroactive.
South Africa's Midknight Oranges Arriving in the U.S.
The first shipment of South African Midknight Oranges has arrived in the U.S. at the port of Philadelphia. This is the first of four shipments that will arrive through October 2011. More
Airbus expects South Africa to add 183 new aircraft over 20 years
South African air traffic has rocketed over the past decade and is set to soar even further over the next twenty years, states European airliner manufacturer Airbus. “2011 traffic to and from South Africa is well above 2000 levels,” reported Airbus market forecast director Andy Gordon in Johannesburg, on Monday. “Our forecast is that future growth will be well above the world average.” More
Driving a New Vision for Africa
The 2011 Brand Africa Forum, sponsored by Brand South Africa and Brand Leadership Academy, saw an impressive range of pan-African, diasporan and global thought leaders, influencers and decision-makers coming together to debate how Africa can drive its growth, reputation and competitiveness. More
World Federation of Exchanges (WFE) Holds 51st General Assembly and Annual Meeting in South Africa
JOHANNESBURG--(EON: Enhanced Online News)--Leaders from more than 60 of the world’s foremost exchanges gathered in Johannesburg, South Africa this week for the 51st General Assembly and Annual Meeting of the World Federation of Exchanges (WFE), the association of regulated stock, futures, and options exchanges. The WFE develops and promotes high regulatory standards in markets to assure their transparency, fairness, and certainty of execution. More
Team Florida Trade Mission to South Africa
The South African Consulate General in New York is pleased to announce and support the upcoming trade Mission to South Africa from the state of Florida that is to be led by Lt. Governor Jennifer Carroll. The Mission, from 3 to 14 November, will visit the cities of Pretoria, Johannesburg, Durban and Cape Town and will meet with a wide range of South African companies and businesses including leading government representatives. The purpose of the Mission is to increase bilateral trade and investment between the State of Florida and South Africa. The Mission is being facilitated by Enterprise Florida, the state's economic development agency.