South Africa Moves Closer to Exiting Dirty-Money List in October
The Financial Action Task Force has already determined that South African authorities had met 'all or almost all of the actions' required to leave the list and the visiting team will evaluate that 'implementation is there, but also that it's sustainable,' FATF President Elisa de Anda Madrazo said Thursday.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
News24
7 hours ago
- News24
Ramaphosa warns Trump's tariffs highlight urgency to diversify vehicle exports
@PresidencyZA/X Ramaphosa urges the auto sector to reduce reliance on US exports. BMW's new hybrid model aligns with green mobility priorities. Government pledges incentives for electric vehicles (EVs) production and mineral processing. President Cyril Ramaphosa has warned that the newly announced tariffs by the US could pose significant risks to SA's automotive exports, urging the sector to diversify its markets and increase domestic value creation. A 30% tariff on SA's exports to the US is set to be implemented on 1 August. Speaking at the launch of BMW's new X3 plug-in hybrid electric vehicle at its Rosslyn plant in Pretoria on Thursday, Ramaphosa praised the company's continued investment in the country but cautioned that reliance on a few export destinations, such as the US and Europe, could leave the local industry exposed. 'The recent announcement on tariffs by the US, of course, has a huge impact on all of us,' said Ramaphosa. It further underscores the need for us to diversify our export base and to accelerate domestic value creation as well. President Cyril Ramaphosa He said while BMW's decision to export the new X3 to Europe was welcomed, SA must also expand its footprint across the continent, particularly within the Southern African Development Community. 'We need to open our eyes and our ears and see where else our vehicles can go,' the president said. SA's automotive sector contributes 4.9% to the country's GDP and supports more than 115 000 direct jobs. Ramaphosa described the industry as the 'lead spine' of the country's industrial strategy and said the BMW Group's role in its development was both longstanding and crucial. He said BMW's decision to produce hybrid vehicles locally aligns with the country's transition to a low-carbon economy and the global push towards green mobility. 'We are committed and determined to ensure that there is an enabling regulatory and policy environment to make it easier for companies like BMW to continue to innovate,' he said. This includes support through the Automotive Production and Development Programme, the Electric Vehicle White Paper, and targeted incentives for battery cell production, clean mobility research and critical mineral beneficiation. Ramaphosa also praised the company's broader economic contribution, including its training academy, the Youth Employment Service programme and its investment in digital skills through its IT hub. He said BMW's continued presence and reinvestment, including its R4.2 billion pledge at the SA Investment Conference, was a sign of trust in local workers, who the company refers to as 'associates'. 'You are now going to be producing a high-end vehicle for the world market,' he said to the BMW staff at the plant. It will come from your hands, as associates of this company. The Rosslyn plant was BMW's first production facility built outside Germany and has operated in the country for more than 50 years. Ramaphosa described the plant as a model of industrial transformation, job creation and inclusive growth.
Yahoo
8 hours ago
- Yahoo
Taking charge: read the August issue of MINE now!
The August issue of MINE magazine is out now, with articles looking at the development of charging technologies for electric mining vehicles, exploring China's grip on global graphite, and much more. A major barrier to increasing the adoption of electric trucks in mining is a lack of interoperability between charging technologies, infrastructure and vehicle types. In this issue, we look at how charging is developing in mining, reviewing the industry drive for standardisation. Elsewhere, we explore a variety of techniques that can help improve screening, sizing and sorting to maximise mineral recovery from ore. While real-time data can help to increase safety and productivity, more still needs to be done to encourage miners to embrace new technologies. In an interview for our series on inspiring women in mining, we speak to Comfort Asokoro-Ogaji, founder of Women in Mining – Africa, about her mission for inclusion, justice and opportunity across the continent. In commodities, we examine China's grip on the graphite market and look at how the supply landscape will evolve to 2030. Plus, we assess how risks – from geopolitical tensions to extreme weather – are driving change in mining insurance offerings. What to expect in the next issue of MINE In our October issue, we explore the options for decarbonising iron ore production. What are the key technologies? What are the challenges? In commodities, we look at Oman's return to copper after three decades. With the start-up of new mines, we ask whether the Middle Eastern nation can achieve its goal of becoming a top-three copper producer. We also report on FQM's expansion plans for the Kansanshi copper mine in Zambia. Don't miss out! Sign up to receive all this and more direct to your inbox. "Taking charge: read the August issue of MINE now!" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
9 hours ago
- Yahoo
Libya's Mellitah to work with Hill on two gas projects
Mellitah Oil and Gas has entered into an agreement with US-based Hill International to oversee a significant project aimed at enhancing Libya's gas production. Mellitah Oil and Gas is a joint venture between Libya's National Oil Corporation (NOC) and Italian energy company Eni. The signing of the agreement took place during a visit to the Libyan capital Tripoli by US President Donald Trump's senior adviser for Africa, Massad Boulos. The project, known as Structures A&E, is set to elevate local gas output and ensure exports to Europe. It will see the development of two gas fields in contractual area D, offshore Libya. With production due to commence next year, the fields are expected to yield up to 750 million cubic feet of gas per day. The development will be supported by two main platforms, which will be integrated into the existing treatment facilities at the Mellitah complex. In addition to boosting gas production, the project includes the construction of a carbon capture and storage (CCS) facility at Mellitah. This facility aligns with Eni's decarbonisation strategy and aims to significantly reduce the overall carbon footprint. The estimated investment for the project stands at $8bn (Ld43.23bn), with a substantial impact anticipated for the industry and its supply chain, thereby contributing notably to the economy of Libya. During the discussions, NOC presented Libya's strategy to increase oil production to two million barrels per day by 2030. Massad Boulos also engaged with Libya Prime Minister Abdulhamid Dbeibah, as reported by Reuters, citing a statement from the prime minister's office. Prime Minister Dbeibah expressed his government's commitment to forging economic collaborations with Washington, which would pave the way for US companies to engage in development and investment projects in Libya. The prime minister's team showcased a range of strategic economic partnership projects, valued at around $70bn. These projects span various sectors including minerals, energy and electricity, and are ready for investment. "Libya's Mellitah to work with Hill on two gas projects" was originally created and published by Offshore Technology, a GlobalData owned brand.
