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IOL News
5 days ago
- Business
- IOL News
Don't leave recyclers on the scrapheap Minister Tau
Nancy Strachan is CEO of the Recycling Association of South Africa. Image: Supplied In a week where Minister of Trade, Industry and Competition, Parks Tau, signalled a strategic pivot in South Africa's trade posture toward the United States, something extraordinary happened. Amid the headlines about $3.3 billion in pledged outbound investments and renewed commitments under Agoa, one detail passed quietly: Minister Tau specifically cited metal recycling as a pillar of the proposed framework. For those of us in the recycling industry, and for the hundreds of thousands who make their living scavenging, sorting and selling scrap, this was not just a diplomatic aside, it was recognition long overdue. The Recycling Association of South Africa (RASA) welcomes the Minister's leadership and vision. The inclusion of metals recycling as a focus for joint ventures under the new US engagement strategy affirms what many of us have long argued: that this industry is not peripheral, but central to sustainable development, industrial competitiveness and poverty alleviation. Globally, metals recycling is part of the engine room of the circular economy. It diverts waste from landfills, reduces carbon emissions, and supplies critical inputs for green industries, from electric vehicles to solar panels. It is also labour-intensive, creates jobs, attracts investment, and innovates. That Minister Tau sees this is encouraging. For more than a decade, South Africa's scrap metal policies have prioritised steel mini-mills at the expense of the recyclers who collect, process and trade scrap. Introduced in 2013, the Price Preference System (PPS) mandates that scrap metal be sold locally at prices up to 30% below export parity. Export bans and taxes have compounded the suppression. In theory, these measures were meant to reduce infrastructure theft and support local steelmaking. In practice, they have done neither. What they have done is divert an estimated R6 to 8 billion a year, over R60bn since inception, away from informal waste pickers, micro-traders, and processors, into the hands of a few capital-intensive operators. South Africa's scrap exports have collapsed from 1.8 million tonnes in 2012 to just 156 000 in 2023. Employment in the formal steel sector has fallen by 46% since 2009. Mini-mills complain about scrap shortages, but routinely reject material, leaving collectors with no buyers and no income. We hear a lot about 'inclusive growth'. But you will not find a more grassroots industry than scrap. In a country with an expanded unemployment rate above 40%, over 400 000 people, mostly poor, many women, eke out a living collecting waste. They are entrepreneurs, not beneficiaries. They work 12-hour days pushing trolleys across cities and towns to gather what society discards. And they have been systematically dispossessed by policies that distort prices, close markets, and make their labour less valuable. This isn't just economically irrational; it is socially destructive. The irony is painful: while South Africa presents itself to the world as a champion of sustainable industries, its domestic policies undermine the very sectors that could lead its green transition. Export restrictions have cost the country over R31bn in lost output, with R21bn from aluminium alone. Bans create bottlenecks, suppressed prices kill investment and jobs that should be created, vanish. We can and must do better. The United States has proven that liberalising trade in recyclable materials fosters sectoral growth, technology transfer and environmental benefit. Japan, with no domestic iron ore, has built an entire steel ecosystem on imported scrap. So too can South Africa, but while it punishes its own collectors. Minister Tau's comments signal a hopeful shift in mindset. By engaging the US on metals recycling, the government is acknowledging its economic and environmental promise. Through collaborative leadership with government, now is the time to translate this into policy reform at home. The PPS, the export bans, and the price suppression policy must go. Doing so would restore fair pricing, open access to export markets, and allow recyclers to reinvest. In the formal sector, this means upgraded processing infrastructure and new jobs. In the informal sector, it means daily survival: higher returns for cans, steel, and discarded household appliances. More collections, less landfill and more dignity through work. Lifting these barriers would not be a handout. It would be a signal to the world that South Africa is serious about climate goals, about inclusive industrialisation, and about the people who keep our streets clean, our landfills light, and our circular economy turning. RASA stands ready to partner with government to modernise this vital industry and hundreds of thousands of waste pickers are waiting. Nancy Strachan is CEO of the Recycling Association of South Africa. *** The views expressed here do not necessarily represent those of Independent Media or IOL. BUSINESS REPORT
Hans India
18-07-2025
- Entertainment
- Hans India
Alka Khan: From Lyricist to Film Producer, A Creative Journey
Alka Khan, a talented lyricist and entrepreneur, has embarked on an exciting new venture as a co-producer with her debut film project RASA. This marks a significant milestone in her career, showcasing her versatility and passion for storytelling. Before venturing into film production, Khan made a name for herself as a lyricist, penning songs for the 2019 Bollywood movie X-Ray: The Inner Image. Her collaboration with music director Raaj Aashoo and singer Dev Negi yielded captivating tracks, such as "Aa Paas Aa," which showcased her skill in crafting sensual and evocative lyrics. Khan's experience in the entertainment industry extends beyond film, with a successful marketing company that has handled campaigns for prominent films and artists. This background has equipped her with a keen eye for strategy and storytelling, essential skills for a film producer. With RASA, Khan aims to leverage her creative vision and business acumen to produce a film that resonates with audiences. While details about the film's plot and cast remain under wraps, Khan's track record suggests a promising project that blends artistic expression with commercial appeal. As Khan navigates her new role as a film producer, her journey will likely inspire aspiring professionals in the industry. With her unique blend of creative talent and business expertise, Alka Khan is poised to make a lasting impact on the world of cinema.
Business Standard
14-07-2025
- Business
- Business Standard
Sula Vineyards slips on reporting weak Q1 biz update
Shares of Sula Vineyards declined 1.27% to Rs 295.75 after the company reported a 7.9% fall in net revenue to Rs 118.3 crore in Q1 FY26 as against Rs 128.4 crore recorded in Q1 FY25. Revenue from the companys own brands declined 10.8% year-on-year (YoY) to Rs 102.3 crore, compared to Rs 114.6 crore in the corresponding quarter last year. This decline was due to a slowdown in urban consumption and the effects of excise-driven trade pre-loading in Maharashtra. Sula reported stable revenue in Q1 FY26, notwithstanding the one-time WIPS unwinding benefit of Rs 10.4 crore in Q1 FY25. The company's wine tourism segment posted revenue of Rs 13.7 crore in Q1 FY26, up 21.8% as against Rs 11.3 crore in the year-ago period. This growth was fueled by more visitors, record occupancy at its resorts, and higher guest spending. Better access from the newly opened Samruddhi Highway, which cuts travel time between Mumbai and Nashik, also helped this segment. During the quarter, Sulas elite and premium wine lines, including The Source and RASA, showed strong growth. The company also introduced Sula Muscat Blanc, Indias first low-alcohol still Muscat wine, with an alcohol content of only 7.5% ABV. Sula Vineyards is principally engaged in the business of the manufacture, purchase, and sale of premium wine and other alcoholic beverages. The wine producer reported consolidated net profit fell 3.84% to Rs 13.03 crore in Q4 FY25 as against Rs 13.55 crore posted in Q4 FY24. Revenue from operations (excluding excise duty) rose 2.6% YoY to Rs 125.71 crore during the quarter.
Business Upturn
14-07-2025
- Business
- Business Upturn
Sula Vineyards shares dip 2% as Q1 revenue falls 8% YoY to Rs 118.3 crore
By Aman Shukla Published on July 14, 2025, 09:23 IST Sula Vineyards shares slipped around 2% in early trade today after the company posted a mixed set of results for the quarter ending June 2025. As of 9:22 AM, the shares were trading 2.47% lower at Rs 292.20. The winemaker's consolidated net revenue came in at ₹118.3 crore, down 7.9% from ₹128.4 crore in the same quarter last year. A major drag was the company's core own-brand wine business, which saw a 10.8% dip in revenue, falling to ₹102.3 crore. Sula attributed the decline to continued weakness in urban consumption and the after-effects of trade pre-loading in Maharashtra due to changes in excise policy last year. However, Sula clarified that last year's numbers included a one-time gain of ₹10.4 crore from the unwinding of a WIPS contract. If that's excluded, this year's underlying revenue was broadly flat year-on-year. One bright spot was the wine tourism segment. Revenue from this division rose 21.8% to ₹13.7 crore, helped by higher footfalls, record Q1 occupancy at Sula's resorts, and increased guest spending. The newly built Samruddhi Highway, which cuts travel time from Mumbai to Nashik, also gave a boost to tourism. On the product front, Sula's premium wines—like The Source and RASA—continued to perform well. The company also launched a new product: Sula Muscat Blanc, India's first low-alcohol Muscat wine with just 7.5% alcohol content. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Ahmedabad Plane Crash Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
Hans India
13-07-2025
- Business
- Hans India
Sula Vineyards' revenue falls 7.9 pc in Q1; stock drops nearly 40 pc in 1 year
Mumbai: Sula Vineyards Limited has reported a 7.9 per cent decline in its consolidated net revenue for the quarter ended June 2025 (Q1 FY26), with earnings falling to Rs 118.3 crore from Rs 128.4 crore in the same period the previous year (Q1 FY25). The company attributed the fall mainly to a 10.8 per cent drop in revenue from its own-brand wines, which came in at Rs 102.3 crore. The decline was largely due to a continued slowdown in urban consumption and the lingering effects of trade pre-loading in Maharashtra caused by changes in excise duties. The company also noted that last year's figures included a one-time benefit of Rs 10.4 crore from the unwinding of WIPS (Wine Inventory Purchase Scheme), without which this year's revenue was nearly flat on a year-on-year (YoY) basis. Despite the drop in overall revenue, Sula's wine tourism segment offered some relief, recording a 21.8 per cent increase in revenue to Rs 13.7 crore. The company credited this growth to higher footfalls, record Q1 occupancy at its resorts, and increased guest spending. The recently inaugurated Samruddhi Highway, which has shortened travel time between Mumbai and Nashik, also contributed to the positive momentum in tourism. Sula's premium wine brands like The Source and RASA continued to perform well. The company also introduced 'Sula Muscat Blanc' during the quarter -- marking India's first low-alcohol Muscat wine with 7.5 per cent ABV. Shares of Sula Vineyards closed on Friday's intra-day trading session at Rs 299.40, down by Rs 1.95 or 0.65 per cent on the National Stock Exchange (NSE). In the last five days, the shares were down by Rs 6.50 or 2.12 per cent. Over a one-month timeframe, the shares delivered a negative return of Rs 6.55 or 2.14 per cent. However, the decline in share price became more significant over longer timeframes. In the last six months, the stock was down by Rs 77.25 or 20.51 per cent. On a year-to-date (YTD) basis, the shares fell by Rs 115.50 or 27.84 per cent. Over the past one year, the stock declined by Rs 199.30 or 39.96 per cent.
