Latest news with #Hoosen
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First Post
3 days ago
- Business
- First Post
Global scramble for critical minerals sees UK, Zimbabwe rekindle their ties after 30 years
Driven by the global race for critical minerals, the UK and Zimbabwe are rekindling ties after nearly three decades of diplomatic strain, signaling a shift toward commercially focused partnerships, according to a report read more Zimbabwe and the United Kingdom are restoring diplomatic relations after nearly 30 years of strained ties, as growing global demand for critical minerals drives renewed engagement between the two countries, according to a Bloomberg report. In June, UK Minister for Africa Lord Ray Collins met with Zimbabwean President Emmerson Mnangagwa and top officials, marking a rare high-level engagement after years of frosty relations under former President Robert Mugabe. Collins called the trip a 'mission for economic growth,' aiming for a 'win-win' partnership, added the report. STORY CONTINUES BELOW THIS AD The British Embassy in Harare highlighted a $1 billion pipeline of potential deals spanning agriculture, finance, telecoms, renewable energy, and critical minerals. It named the 30-megawatt Vungu solar project as a flagship investment, with more initiatives expected to follow. 'The UK is working hard to increase trade and investment for mutual benefit,' Bloomberg quoted a spokesperson as saying in an emailed response to questions. The background Ties between Zimbabwe and the UK were strong after independence in 1980, with Britain as a key trading partner and aid donor. But relations soured in 1997 when the UK refused to fund Zimbabwe's land reform, stating it had no colonial obligation to do so. Tensions escalated with Zimbabwe's 2000 farm seizures, leading to Western sanctions over property rights violations. By 2024, the UK had fallen to Zimbabwe's 14th-largest trading partner, with $155 million in trade — far behind China ($3.9 billion) and the UAE ($2.9 billion). The UK's renewed outreach, however, signals more than diplomacy. It reflects a strategic push for access to Zimbabwe's critical minerals, especially lithium, Zaynab Hoosen of Pangea-Risk told Bloomberg. 'Zimbabwe's substantial lithium reserves offer a timely opportunity to diversify supply chains and reduce reliance on dominant producers,' Bloomberg quoted Hoosen as saying. Western nations, including the US and UK, are racing to secure critical minerals vital for clean energy, defence, semiconductors, and EV batteries. STORY CONTINUES BELOW THIS AD In a policy paper last month, the UK said its upcoming critical minerals strategy will emphasise targeted growth partnerships. According to Hoosen, the UK is shifting from traditional aid to commercially driven, mutually beneficial ties under its new 'Approach to Africa,' unveiled in June. 'Recent moves include an infrastructure partnership with South Africa, which builds on existing cooperation in platinum group metals and the UK's first trade and investment mission to Angola, where UK-based firm Pensana Plc is advancing the Longonjo Rare Earth Project For Zimbabwe, the benefits go beyond minerals diplomacy, as the stronger ties with the UK 'offer access to diversified investment, expanded trade and renewed international legitimacy,' Hoosen added. With inputs from agencies
IOL News
08-05-2025
- Business
- IOL News
SA's energy one-stop shop projects for IPPs faces hurdles as US funding withdraws
The Energy One-Stop Shop was envisioned as a solution to help Independent Power Producers (IPPs) in South Africa to have their applications for new renewable energy projects approved in record time. Image: Henk Kruger/Independent Newspapers Banele Ginidza The establishment of the Energy One Stop Shop (EOSS) project, an initiative aimed at revolutionising South Africa's renewable energy sector, is currently in limbo due to a significant funding shortfall. Yunus Hoosen, head of Invest South Africa (InvestSA), disclosed to Parliament's Portfolio Committee on Trade and Industry on Wednesday that the project was seeking an additional R60 million to continue its rollout across all provinces. The setback follows the withdrawal of funding from the United States under former President Donald Trump's Executive Orders. "We have done the functional specs. We have been funded by donor agencies. We lost a little bit of funding from the US but we continue to talk to a number of other donors to see how we can get this programme going. Its is R60m and we intend to finalise and launch this in the fourth quarter of 2026," Hoosen said. "What we plan to do is to have a one-stop shop in every province. We have them in three provinces and the one at the dtic [campus]. We are ready to roll out Eastern Cape and Limpopo. The Northern Cape is undergoing refurbishment, following that is Mpumalanga. We just need to do the work and sort out the one-stop shop in the Free State and the North West." The EOSS was envisioned as a solution to the myriad challenges facing Independent Power Producers (IPPs) in the renewable energy landscape, working collaboratively with multiple government departments to simplify regulatory processes. It's designed to provide guidance and support, enabling IPPs to navigate the complex authorisation landscape while effectively reporting progress and challenges to the Department of Trade, Industry and Competition (the dtic) and various National Energy Crisis Committee (NECOM) structures. Collaboration plays a key role in the EOSS's success, and the programme works closely with private sector partners and industry associations, including Business Unity South Africa (Busa), the South African Wind Energy Association (SAWEA), and the South African Photovoltaic Industry Association (SAPVIA), among others. However, the rollout has experienced delays, which Hoosen attributed to changes in executive leadership within coordinating entities, including CEOs and chief financial officers. "We also face delays from provincial government frameworks. That has happened in the Free State. We could have rolled out a long time ago in the Free State," Hoosen said. Despite these challenges, the EOSS has already unlocked various projects, such as a 9.8MW biogas facility supplying the BMW plant in Tshwane, and enabling the realisation of 70MW of biogas in the Free State. Hoosen noted that as of December 2024, the overall achievements of the IPP programme included more than R239 billion in investments across 104 projects, facilitating the generation of just under 8 000MW of electricity.
Zawya
11-03-2025
- Business
- Zawya
South Africa: Digital business visa application system goes live
The Department of Trade, Industry, and Competition (the dtic) has launched the Business Visa Recommendation System (VRS), an online platform for business visa recommendation applications. The VRS is aimed at all foreign business owners applying for first, extension and/or permanent residence recommendation, in terms of the Immigration Act 13 of 2002. 'Business visa applicants will benefit from a more effective, transparent and user-friendly application process that goes live today,' the dtic said on Monday. According to the Acting Deputy Director-General of Investment and Spacial Industrial Development at the dtic, Yunus Hoosen, the main objective of the system is to enhance efficiency for business visa applicants, including faster processing, convenience and transparency. 'The VRS replaces the email application process with a digital platform, improving efficiency and accessibility for global investors looking to reside in South Africa for the purpose of establishing, expanding and/or investing in businesses. 'This initiative is part of... ongoing efforts to reduce red tape and simplify the ease of doing business in South Africa. 'From an administrative viewpoint, the VRS is a solution for collecting, managing, and reviewing applications online. In addition, it eliminates incomplete applications from being submitted, provides monitoring of applications received and finalised and provide investment-related information needed for reporting and planning, amongst others,' said Hoosen. The VRS is aligned with South Africa's broader e-governance initiatives, which seek to improve accessibility to government services through digital transformation. 'The VRS marks a significant milestone in modernising the country's investment facilitation framework, reinforcing South Africa's commitment to fostering a business-friendly environment,' said the dtic. Key features of the VRS - Online submission – Applicants can now submit business visa for first, extension and permanent recommendations applications digitally. - Document upload – Required supporting documents can be uploaded directly to the system. - Real-time tracking – Applicants can monitor the progress of their applications. - Automated notifications – Updates and final recommendations will be communicated through the system.
