South Africa Seeks 15% Tax on EV-Battery Imports, BD Reports
South Africa's trade-control agency proposed a 15% import tax on new energy vehicle batteries to boost local capacity and encourage original equipment manufacturers to build units in the country, Business Day reported.
The International Trade Administration Commission also proposed that the trade minister raises the number of materials that qualify as standard under the government's Automotive Production Development Programme to support local battery manufacturing, the Johannesburg newspaper, citing ITAC Chief Commissioner Ayabonga Cawe.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
News24
3 hours ago
- News24
Like father, like spender. What's your financial DNA?
Father's Day brings mixed emotions across South Africa. While some celebrate the men who taught them to ride bikes and told terrible jokes, for many—the day highlights a different reality. With a significant percentage of households lacking present fathers or traditional father figures, the concept of paternal influence takes on broader, more complex meanings. Yet financial DNA—those money habits and attitudes we absorb growing up—comes from somewhere. Whether from a present father, a grandfather, an uncle, an older sibling, a mother playing dual roles, or another guardian figure, our financial behaviours are shaped by those who raised us. This Father's Day, let's reflect on these influences, regardless of their source, and consider how they continue to shape our financial lives. The money habits we inherit without realising Think about it – how did the adults in your household approach money? Was there someone who meticulously saved? Someone who spent freely? Or perhaps there were conflicting money messages from different influential people in your life? Recent research suggests these patterns leave a deeper impression than we might think. According to a 2024 MoneySmart survey of 1,000 adults: • 78% of people who watched their caregivers save diligently now do the same themselves • 63% who grew up with impulsive shoppers have picked up identical habits • 59% raised by over-spenders continue to struggle with overspending 'We inherit far more from our role models than we might realise,' explains Lee Hancox, Head of Channel and Segment Marketing at Sanlam. 'Their attitudes towards money, their spending and saving patterns, and even the conversations they had – or didn't have – about finances at home all contribute to our own financial blueprint.' The most surprising part? Most of these habits form before we're even aware of them. The emotional money connection we don't talk about Money isn't just about numbers – it's deeply emotional. Think about how you feel when your bank account is comfortable versus when you're stretching to make ends meet. That emotional response has roots that likely go back to your childhood and the financial environment you grew up in. 'Whether we like it or not, we can all be emotional about money,' Hancox notes. 'If you grew up in a household where money was a constant source of stress, you might find yourself overly anxious about expenses, even when financially stable. Or you might swing the other way, spending impulsively as a reaction.' Quick reflection: Take a moment this season to consider: - How did money discussions feel in your childhood home? Tense? Non-existent? Matter-of-fact? - Who had the strongest influence on your money attitudes growing up? - When you make a large purchase now, do you feel guilt? Excitement? Anxiety? - How similar are these responses to what you observed in your household? Breaking the chain: Building your own financial legacy Understanding these patterns doesn't mean you're destined to repeat them. Recognising your inherited financial tendencies is actually the first step toward taking how you can start reshaping your financial DNA: 1. Decode Your Money Personality What kind of financial personality did you inherit? Are you a 'Prepared Protector' like someone who raised you, or did you develop a different approach and become a 'Spontaneous Buyer'? Sanlam's Money Personalities quiz can help you understand your money type. 2. Start Talking About Money If money was a taboo subject in your home growing up, you have the power to change that pattern for the next generation. 'We need to get better at talking to our children about finances from a young age,' Hancox advises. 'This openness isn't just about teaching – it's about building a healthy relationship with money.' Simple ways to start include explaining basic shopping decisions while at the shop, involving children in age-appropriate budget discussions, celebrating saving milestones together, being honest (in age-appropriate ways) about financial challenges Read more| How SA moms are revolutionising family finances 3. Create New Financial Habits Small, consistent actions build powerful new patterns. Start by establishing a budget that reflects your values, not just inherited habits. Set clear financial goals (both short-term and long-term). 4. Model What You Wish You'd Seen Remember that the children in your life are watching and learning from your financial behaviours – just as you did with the adults who raised you. 'Teaching good money habits is ongoing,' says Hancox. 'It takes patience, persistence, and repetition.' This season, as Father's Day approaches, take a moment to reflect on the financial influences in your life – whoever they came from. For those who had present fathers, this might mean acknowledging the direct impact they had. For those raised by single mothers, grandparents, or extended family, it means recognising the powerful financial lessons that came from these equally important relationships.
Yahoo
6 hours ago
- Yahoo
China to remove tariffs on African imports to boost trade
China says it will sign a new economic pact with Africa that will get rid of all tariffs on the 53 African states it has diplomatic ties with – a move that could benefit middle-income nations as they prepare for tariff hikes on products entering the United States. The move, announced at a China-Africa co-operation meeting (FOCAC) in Changsha, central China, comes as the continent faces the possibility of increased tariffs on its products entering the US. The Asian economic giant already offers duty- and quota-free market access to least developed countries (LDCs), including 53 countries in Africa, but the new initiative will level the playing field by also offering middle-income countries similar market access. Eswatini (formerly Swaziland) is the only African country excluded from the zero-tariff deal. It maintains diplomatic ties with Taiwan, whereas China regards it as a breakaway province. The timing of Beijing's decision is significant. In April, President Donald Trump announced high tariffs on its imports from many countries, including a 50 percent rate for Lesotho, 30 percent for South Africa and 14 percent for Nigeria. Read more on RFI EnglishRead also:China courts African allies as tensions with Europe, US deepenFrance pushing for 'China-EU leadership' on climate to counter US withdrawalKenyan president visits China as country pivots away from the US
Yahoo
7 hours ago
- Yahoo
Is Elon Musk a U.S. citizen? The SpaceX billionaire is no longer a DOGE government employee
Tesla CEO, SpaceX founder and South Africa-born billionaire Elon Musk became a 'special' federal employee in February, allowing him to work for the federal government with or without pay for a limited time. Now, around four months later, Musk is coming off the heels of a very public falling out with President Trump shortly after leaving his position as the head of the Department of Government Efficiency (DOGE). While there are some exceptions, according to the U.S. Office of Personnel Management, you generally must be a U.S. citizen to work for the federal government. And since supporting President Trump's 2024 campaign, flurries of comments on social media posts about Musk often accuse him of not being a U.S. citizen. Following the news of his job and due to his and President Donald Trump's strong views on immigration, some asked, "Is Elon Musk a U.S. citizen?" The short answer is yes. Regardless of his current employment status (or lack thereof) with the Trump Administration, it's still one of the most commonly asked questions about the wealthiest man in the world. Here's where Elon Musk's citizenship status stands, which countries he grew up in and where he currently lives. Musk and Trump's relationship: A timeline from campaign cash to 'disgusting abomination' Musk left his position with DOGE at the end of May and, about a week later, on June 5, started posting accusatory tweets on his social media platform X, formerly Twitter. He berated Trump's 'big, beautiful bill,' calling it a 'disgusting abomination,' and even accused of being involved with the late child sex trafficker Jeffrey Epstein in now-deleted posts on X. But on June 11, Musk posted on X, 'I regret some of my posts about President @realDonaldTrump last week. They went too far.' Musk hasn't changed his opinion about the bill yet, at least publicly. While Musk has deleted some of his more inflammatory posts about Trump, some posts about killing the bill are still up on his X profile. What we know after his apologetic post: Does Musk still oppose the 'Big Beautiful Bill?' 'Musk has been a U.S. citizen since 2002 according to a 2023 biography of Musk by journalist Walter Isaacson,' Politifact and CNN reported. Musk was born in Pretoria, South Africa, in 1971. His father, Errol Musk, is a South African businessman, politician, mine owner, consultant, and property developer. His mother, Maye Musk, is Canadian. Through her, Elon Musk also has Canadian citizenship. In his college years, Musk came to the U.S. on an Exchange Visitor Visa, which allows visa holders to teach, lecture, instruct, study, conduct research, consult, receive graduate training and more. In October, the Washington Post reported that Musk was — at one point — working illegally during his startup days in Silicon Valley, while he and his brother were creating PayPal. President Biden later echoed the Post's report, which went viral on X, Musk's social media platform formerly known as Twitter. Musk fired back on X, saying that he 'was in fact allowed to work in the U.S.,' and described his immigration journey as a 'gray area," CNN reported. Regardless of whether or not he was working illegally at the start of his career, Musk is now a U.S. citizen and maintains his primary residence in the U.S. Elon Musk surrenders: World's richest man is caving to Trump after their epic feud Musk was mostly raised in South Africa. He moved to Canada when he was 17 to study at Queen's University in Kingston, Ontario. In 1992, he transferred to the University of Pennsylvania in Philadelphia, where he graduated with bachelor's degrees in economics and physics. Yes, Elon Musk lives in the U.S. Currently, his main residence is in Boca Chica, Texas, the location of SpaceX Headquarters. He has a tiny home and a small two-bedroom home in the area, according to Architectural Digest. 'In 2021, Musk revealed in a post on X that he was living in a three-bedroom ranch, also in Boca Chica. He claimed to be renting the $50,000 property from SpaceX,' Architectural Digest reported in January. 'Like his tiny home, the property is a short drive from his company's beachfront launch site, SpaceX Starbase.' According to Forbes' real-time billionaires list, Musk is the richest man in the world as of Tuesday, Feb. 4, 2025. He ranks just slightly above Jeff Bezos. Musk is worth more than $400 billion, according to Reuters. Contributing: Kinsey Crowley, USA TODAY This article originally appeared on Palm Beach Post: Elon Musk and Donald Trump: Is the SpaceX billionaire a U.S. citizen?
