Bruce Whitfield's Business Week: Hot markets, hot deals — and toffees
The bestselling author and broadcast legend has a new show that aims to identify the one South African business news story that will still matter in the long run.
This week, he looks at SA's attempts to secure a US trade deal — along with other big developments.
Bruce also speaks to Adcock Ingram CEO Andy Hall about a game-changing new deal that could mark a major turning point for the maker of Panado, Compral, and Corenza C.
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Business Insider
a day ago
- Business Insider
Shipping giant, Maersk ends direct US trade route to Africa's largest economy
South Africa, the continent's largest economy, is facing renewed trade headwinds as Danish shipping giant Maersk announced it will discontinue direct cargo shipments between South Africa and the United States from October 1. South Africa, the continent's largest economy, faces challenges due to Maersk discontinuing direct cargo shipments to the US from October 1. South African exports will be rerouted via European hubs, increasing transportation costs and lead times. Longer shipping times, higher fees, and operational surcharges will further impact South Africa's export competitiveness globally. The decision, communicated to customers this week, according to News24, means South African exports will now be rerouted through European transshipment hubs, resulting in longer lead times and higher logistics costs for businesses already under pressure. While Maersk has attributed the move to operational restructuring and global supply chain realignments, the timing has heightened concerns within South Africa's export sector over worsening trade relations with Washington. The shift comes amid escalating diplomatic tensions between Pretoria and President Donald Trump's administration, which recently threatened to review South Africa's eligibility under the African Growth and Opportunity Act (AGOA), a crucial trade pact that grants duty-free access to US markets for thousands of African products. South Africa's exporters brace for impact The recent decision by global shipping giant Maersk to discontinue direct shipments between South Africa and the United States is set to deliver a substantial blow to South African exporters, both in terms of logistics timelines and operational costs. As Africa's largest economy grapples with mounting trade tensions with the Trump administration, the move will exacerbate existing pressures on businesses that rely on efficient transatlantic shipping routes to access the US market. Speaking to IOL South Africa, Dr Ernst van Biljon, Head Lecturer at IMM Graduate School, said losing one of only two direct shipping links to the US forces South African exporters to rely on Europe's congested ports, adding 'time, cost, and uncertainty.' ' But this is more than just a shipping reshuffle, ' Dr van Biljon added. ' It exposes South Africa's strategic vulnerability in global supply chains. Tariffs and transport constraints now combine to erode margins and undermine long-standing commercial relationships. ' One of the most immediate consequences for South African exporters will be longer shipping times. Direct routes to the US, which previously took four to six weeks, will now be replaced with detours through Europe's transshipment hubs, adding two to three weeks and stretching total transit times to six to eight weeks or more during port congestion. The financial impact is equally severe. Rerouting through Europe increases fuel, handling, and operational costs, with freight rates expected to rise by 20 to 40 percent. Transshipment fees of $200–$250 per container, plus Maersk's peak season surcharges of up to $1,000 for a 40-foot container, will further inflate expenses.
Business Insider
a day ago
- Business Insider
Africa's biggest stock exchange considers extending trading to 24 hours
Africa's largest stock exchange is weighing the introduction of 24-hour trading as part of efforts to align with global market trends, according to Johannesburg Stock Exchange (JSE) CEO Leila Fourie. The Johannesburg Stock Exchange (JSE) is considering introducing 24-hour trading to align with global market trends. A transition to extended trading could benefit South Africa due to its global market connections and dual-listed companies. The proposal is currently under review, with the JSE consulting market participants for a medium- to long-term decision. Africa's largest stock exchange is weighing the introduction of 24-hour trading as part of efforts to align with global market trends, according to Johannesburg Stock Exchange (JSE) CEO Leila Fourie. 'We are investigating this avenue and we'll work with our market to make sure that we deliver what's right for the South African market,' Leila Fourie told Bloomberg. Stock exchanges across the globe are extending their trading hours to cater to a growing wave of retail investors who now trade seamlessly via smartphones. The 24-hour trading revolution The push for longer trading windows is also aimed at accommodating investors across different time zones and keeping pace with the always-on nature of other asset classes like foreign exchange (FX) and cryptocurrencies. In recent months, the New York Stock Exchange (NYSE) has announced plans to operate for 22 hours a day, from 1:30 a.m. to 11:30 p.m., while Nasdaq and Cboe Global Markets have unveiled similar initiatives. The London Stock Exchange is also reviewing proposals to lengthen its trading sessions. For South Africa, transitioning to 24-hour trading could bring meaningful advantages, particularly given its deep ties to global markets and the number of companies dual-listed on international exchanges. 'We are very pleased with the announcements by large exchanges to move to a 24-hour cycle, because it's net positive and net beneficial for South Africa, largely because we have so many dual-listed counters,' Fourie said. She noted that a final decision on extending the JSE's trading hours will be made in the 'medium- to long-term' following consultations with market participants. However, brokers and traders are deeply sceptical, saying South Africa's thin trading volumes make this unviable.
Bloomberg
a day ago
- Bloomberg
Politics and Trade Collide as Trump Upends African Ties
Welcome to Next Africa, a twice-weekly newsletter on where the continent stands now — and where it's headed. Sign up here to have it delivered to your email. President Cyril Ramaphosa is scrambling to contain the fallout from the 30% tariffs the US has imposed on South African imports, the highest levied on goods from any sub-Saharan African nation.
