Latest news with #Se-AnneRall
IOL News
4 days ago
- Business
- IOL News
South Africa's government responds to US tariffs with strategic trade initiatives
Government's response to the US tariffs and measures that will be implemented to mitigate the impact Image: IOL Graphics/Se-Anne Rall In the wake of the recent 30% unilateral tariff imposed by the United States, which officially took effect on August 7, 2025, South Africa's government has mobilised a multifaceted response aimed at mitigating the adverse effects on its economy. This strategy is anchored on five critical elements, underscoring a commitment to international trade and economic stability. The government has prioritised continued engagement with the US to negotiate terms that could lead to a reduction of these tariffs. A revised offer, connecting to the previous proposal made in May 2025, has received Cabinet approval, responding directly to key concerns raised in the US's 2025 National Trade Estimates Report. This new offer makes significant strides in addressing sanitary and phytosanitary measures relevant to South African exports, including poultry, blueberries, and pork, critical commodities for trade between the two nations. As a positive outcome of these negotiations, the USA-Africa Trade Desk has confirmed that shipments of poultry and pork from states such as Georgia, Mississippi, and Alabama will be headed to South Africa in two weeks, signalling a breakthrough in compliance with bio-security protocols. Moreover, South Africa is actively considering tariff reductions in light of the deficit and tariff disparities highlighted by the European Union amid the SADC-EU Economic Partnership Agreement. In collaboration with the Southern African Customs Union, South Africa is identifying specific tariff lines that may be adjusted as a response to this request. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Next Stay Close ✕ In conjunction with international dialogues, the government has launched an Economic Response Package to support vulnerable sectors affected by these tariffs. Key initiatives include: The establishment of an Export Support Desk, which has assisted 23 companies already, alongside engagements with over 54 South African exporters. Measures to help companies absorb tariffs and develop sustainable strategies that safeguard jobs and enhance productivity. A Localisation Support Fund (LSF) tailored for affected companies. The Export and Competitiveness Support Programme (ECSP), which will provide crucial working capital and equipment support. Collaboration with the Department of Employment and Labour to avert potential job losses through current regulatory frameworks. Introduction of a Block Exemption for Exporters to foster cooperation among competitors, with a draft expected to be published soon. The necessity of diversifying export markets has never been more apparent than in the current economic climate. In response to the imposed tariffs, South Africa is accelerating its efforts to explore new international markets beyond the US, with special focus on Asia, the Middle East, and Africa under the African Continental Free Trade Area (AfCFTA). This strategic pivot not only aims to mitigate economic repercussions but also aligns with long-term resilience and competitiveness goals.
IOL News
4 days ago
- Business
- IOL News
Government's response to US tariffs
Government's response to the US tariffs and measures that will be implemented to mitigate the impact Image: IOL Graphics/Se-Anne Rall Ministers Parks Tau and John Steenhuisen are expected to brief the media on the government's response to the US tariffs and measures that will be implemented to mitigate the impact. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ Ad loading The South African government remains optimistic that recently imposed import tariffs by the US could still be reconsidered, following direct communication between President Cyril Ramaphosa and US President Donald Trump. IOL
IOL News
06-08-2025
- Business
- IOL News
South Africa faces economic repercussions from new US tariffs
The Portfolio Committee on Trade, Industry and Competition has expressed deep concern over the impending 30% import tariff that the United States plans to impose on certain South African exports, effective from August 7. Image: IOL Graphics/Se-Anne Rall The Portfolio Committee on Trade, Industry and Competition has expressed deep concern over the impending 30% import tariff that the United States plans to impose on certain South African exports, effective from August 7. This significant development has raised red flags about the potential repercussions for key sectors of the South African economy. During a recent meeting in June, the committee engaged with the Department of Trade, Industry and Competition (DTIC) to assess the state of South Africa's trading relationship with the US, as well as with other international partners. The newly announced US tariffs, which will affect multiple countries alongside South Africa, have serious implications for strategic sectors such as automotive, agriculture—particularly citrus—and steel, all integral to South Africa's economic fabric and job market. Historically, South Africa has enjoyed a robust trade relationship with the United States, which stands as the country's second-largest trading partner. In 2024, South African exports to the US accounted for approximately 8% of the nation's total global exports, valued at around R156.6 billion. This export composition is telling, with around 43% comprising manufactured products, predominantly autos and vehicle components, alongside mining commodities (50%) and agricultural goods (7%). Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Next Stay Close ✕ As the largest importer of US goods in sub-Saharan Africa, the South African economy has been bolstered by mutual trade benefits, generating a trade surplus with imports valued at about R120.2 billion in 2024. This partnership has fostered an environment where over 600 US companies, including prominent names like Ford, Coca-Cola, and Google, operate in South Africa, contributing to job creation on both sides: 132,000 jobs in South Africa and 7,000 in the US from South African corporations. In light of the new tariffs, the committee has raised alarms regarding the direct impact on the competitiveness of South African exports. The additional tariff will likely inflate prices for South African goods in the US market, potentially eroding demand and disrupting established value chains. Such changes could lead to declines in local production and significant job losses if alternative markets cannot be secured. There is also concern over how the tariffs may alter the current composition of South African exports. With approximately 43% of South African goods destined for the US being manufactured products, any reductions in this sector could pose severe challenges, especially when compared to the 38.7% of global exports that consist of manufactured goods. To mitigate these risks, South Africa recently introduced the 'Butterfly Strategy,' aimed at fostering industrialisation and diversifying trade partnerships. Key components of this strategy include a focus on product and market diversification, enhanced trade negotiations, and streamlined protocols to adapt to global challenges. The committee, alongside the government, urges renewed negotiations with the US, emphasising the crucial need for a viable trade and investment agreement to tackle ongoing issues.
The Star
06-08-2025
- The Star
Murder in the Bahamas: Everything we know about Paige Bell's death
Se-Anne Rall | Published 3 weeks ago As investigations continue into the events that led up to Paige Bell's death, her family say they are still trying to process what happened to her. Bell, 20, was found dead aboard a luxury yacht in the Bahamas on July 3. Speaking to the Independent on Saturday, her parents confirmed that they were hoping to arrange a cremation and bring Bell's remains back to South Africa soon. IOL reported that Bell's body had been discovered aboard super yacht, Far From It , docked in Harbour Island. According to the preliminary report, the Royal Bahamas Police Force said police were alerted to the scene and once aboard, officers discovered a female unresponsive with visible signs of injuries and a male suffering from severe injuries to his arms. The local doctor visited the scene, examined the victim and pronounced her deceased. The police report stated that as officers investigated further, it was discovered that the victim was missing for a short period before being found unresponsive in the engine room with the male suspect present. Meanwhile, a 40-year-old male was apprehended, and taken to a nearby clinic for medical treatment. The accused has since been identified as Brigido Munoz, a Mexican national, who has appeared in court. He is due back in court later this year. According to Daily Mail, Bell previously worked aboard the Motor Yacht Sweet Emocean until December last year. In a touching tribute, the Sweet Emocean crew said they were heartbroken by Bell's passing. "Paige was more than a team mate, she was family. Her radiant spirit, infectious laughter, and boundless compassion made an unforgettable impact on everyone lucky enough to know her. Whether it was long days at sea or quiet moments under the stars, she brought light and warmth wherever she went," they said. Bell was due to return home on July 14 to celebrate her 21st birthday with loved ones. Bell's former high school, Hillcrest High School, paid tribute to her in a post, adding that she was a special young lady.
IOL News
04-07-2025
- Business
- IOL News
How ageing infrastructure is impacting the local property market in South Africa
Municipalities are faced with the challenge of dealing with the legacies of the past regarding infrastructure development. Image: Se-Anne Rall The local property sector is facing challenges due to ageing public infrastructure, which suffers from limited maintenance and facilities management. This comes as South Africa marks the end of the first year since the seventh Administration took office, following the National and Provincial Government Elections that took place on 29 May last year. Additionally, there are ongoing delays in government payments to service providers, Nolubabalo Tsolo, the executive director at the Association of South African Quantity Surveyors (ASAQS), told "Independent Media Property". She said a key issue is the lack of transparency regarding national government properties. 'The government continues to occupy leased buildings while simultaneously leasing out its properties. To address these issues, the government needs to focus on improving its asset management systems. "This will ensure that public property assets meet both social and economic objectives, ultimately helping to identify the value they provide,' Tsolo said. The organisation which represents the quantity surveying profession at government, industry and any other forum said that with the 7th Administration, one year into the current term of office, the Minister of Public Works and Infrastructure (DPWI,) Dean Macphearson, has reported that state-owned buildings have been hijacked nationwide. ASAQS said the minister has committed to conducting a comprehensive audit of all government-owned properties. 'Additionally, the minister stated that these buildings will be rehabilitated and used for housing. This is a positive step toward addressing the housing challenge that we face in South Africa.' Addressing the Budget Vote on Wednesday, Human Settlements Minister Thembi Simelane highlighted illegal property occupation as a significant impediment to South Africa's development objectives. She said that during the current financial year, they will develop a Policy Framework for the Prevention of Illegal Eviction from an Unlawful Occupation of Land Act (PIE) to give effect to the latter's amendments. 'We will also embark on countrywide stakeholder consultations and engagement sessions with various sector partners in the human settlements value chain on the Prevention of Illegal Eviction from an Unlawful Occupation of Land Act (PIE) draft policy,' Simelane said. The housing backlog stands at over 2.4 million households in need of adequate housing in South Africa as per the National Housing Register. In the five years between 2024-2029, Simelane said working with all their strategic partners, they have undertaken to deliver 237 000 Breaking New Ground (BNG) units, 314 000 serviced stands, 140 000 subsidies disbursed through various housing interventions to the missing middle, upgrading 4 075 informal settlements, 15 000 social housing units, register and handover 80 000 title deeds and improve the management of available rental stock by achieving a 95% tenanting rate and a 90% collection rate in social rental stock. ASAQS said that challenges that are continuing to affect the South African property sector are the procurement processes, citing that there should be transparency on the procurement policies, and the country needs to be aware of the companies that are constantly appointed. It said the delay in the payment of service providers continues to be an obstacle to the progression of the economy of the country as this leads to companies closing and some employees' salaries being delayed. Tsolo said the DHS should aim to achieve a property management system that integrates with the asset management system and procurement system, thereby ensuring transparency to alleviate corruption. In the Budget Vote speech, Simelane said that a few years ago, the Department developed the Housing Subsidy System (HSS), a portal that is supposed to serve as a housing needs register data bank and information system. However, she said it is a legacy system which is not compatible with the latest technologies and lacks the critical component of citizen engagement. 'Working with the State Information Technology Agency (SITA), we are in the process of developing the National Digital Human Settlements Management System, which will modernise the way we manage human settlements data and improve coordination across departments. "This initiative will address current inefficiencies by providing a centralised platform for better resource management and service delivery,' Simelane said. She added that this system aims to improve efficiency, transparency, and accountability in the management of construction projects, ensuring the timely completion of projects and accurate allocation of resources. 'The integrated software solution aims to streamline and automate various processes related to managing human settlements. It will help government housing authorities, urban planners, and city administrators to efficiently manage housing, land, infrastructure development, housing beneficiary lists and related aspects of human settlements. "The development of a comprehensive, integrated online National Digital Human Settlements Management System (NDHS MS) will further enable citizens to apply online for a housing product and be informed about the outcome of their applications,' said Simelane.
