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The Star
2 days ago
- Business
- The Star
South Africa optimistic of deal with U.S. as tariff deadline nears
JOHANNESBURG, Aug. 7 (Xinhua) -- Following a recent telephone call between South African President Cyril Ramaphosa and U.S. President Donald Trump, South African Minister in the Presidency Khumbudzo Ntshavheni on Thursday expressed hope for an agreement between the two countries. "We wouldn't be putting efforts into the negotiations if we were not hopeful that there is room for an agreement. We are working to ensure we strike a deal," Ntshavheni made the remarks at a post-Cabinet briefing in Pretoria, the country's administrative capital, as the deadline for the 30 percent U.S. import tariffs looms. Ntshavheni said the Cabinet had been briefed on the framework deal South Africa submitted to the United States in response to the import tariffs, adding that the phone call to Trump was part of efforts to strengthen the negotiation of the South African team, led by the Department of Trade, Industry, and Competition. "Cabinet affirmed government's commitment to finding constructive and sustainable solutions through continued engagements with the United States, including at a presidential level," Ntshavheni said. She echoed earlier remarks by fellow ministers on plans to diversify South Africa's export markets, emphasizing efforts to boost trade with Asia, the Middle East, and Europe, while further expanding across the African continent.
IOL News
26-06-2025
- Business
- IOL News
Government to launch new online portals to boost access to South African-made goods
The Department of Trade, Industry, and Competition (dtic), in collaboration with Proudly South African, is set to launch two new online platforms Image: Independent Media The Department of Trade, Industry, and Competition (dtic), in collaboration with Proudly South African, is set to launch two new online platforms designed to enhance access to locally produced goods and services. The initiative features a consumer store named Shop Proudly SA and a business-to-business portal called the Market Access Platform (MAP). The platforms are scheduled to officially launch on July 1 2025. According to the department, the project is intended to support small and medium enterprises, promote local sourcing, and streamline the connection between buyers and local suppliers. "These platforms will help boost support for Small, Medium and Micro Enterprises (SMMEs) and locally manufactured goods and services and create much-needed jobs and grow the resilience of our economy', Parks Tau, Minister of Trade, Industry and Competition said according to ITWeb. Eustace Mashimbye, Chief Executive of Proudly South African, said both platforms are intended to help address some of the key challenges facing small and medium businesses in South Africa, particularly access to markets. 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 According to reports, the platforms will host over 1,700 locally made products, covering a wide range of sectors "We are harnessing technology as a catalyst for ramping up support for homegrown products and for companies whose manufacturing infrastructure and operations create jobs locally. Through these ground-breaking platforms, we seek to make it seamless for consumers and supply chain management practitioners to source from local companies while also enabling them to meet their procurement goals,' South Africa's online shopping made about $42.4 million (around R763 million) in 2023. This is expected to grow to $165.1 million (almost R3 billion) by 2030, according to Stat SA. IOL Business Get your news on the go, click here to join the IOL News WhatsApp channel
IOL News
29-05-2025
- Business
- IOL News
Ithuba Lottery considers legal options as temporary licence decision looms
Outgoing national lottery operator Ithuba Lottery is considering the legal implications of Minister of Trade, Industry, and Competition Parks Tau's decision to award the operating licence to Sizakhaya Holdings. Image: Supplied Outgoing national lottery operator Ithuba Lottery is considering the legal implications of Minister of Trade, Industry, and Competition Parks Tau's decision to award the operating licence to Sizakhaya Holdings. Ithuba stated that this decision disregards the progress made in building a truly home-grown lottery ecosystem that empowers small businesses, drives local job creation, and maximizes revenue for good causes. In response to the decision announced on Wednesday, Ithuba expressed deep disappointment, stating that it undermines the principles of localisation and inclusive economic growth outlined in the Request for Proposal. As a fully South African-owned and black-empowered operator, Ithuba has invested significantly in developing the first African Central Lottery System, owned and developed for Africa by South Africans. 'Ithuba Lottery has the necessary infrastructure, financial resources, and distribution systems to deliver a seamless, secure, and uninterrupted National Lottery. Our game portfolio is locally developed, our operational model prioritizes economic inclusion, and our reach extends across urban and rural communities - ensuring accessibility for all South Africans from day one,' said Ithuba's head of marketing and corporate affairs, Michelle van Trotsenburg. This comes as the Gauteng High Court is expected to rule on Friday on its previous order compelling the National Lotteries Commission (NLC) to grant a temporary licence to run the national lottery for only five months, as the current licence expires on May 31. NLC spokesperson and Head of Stakeholder Management and Communication, Rudzani Tshigemane, said the commission awaits the court's decision, which will determine the awarding of the temporary licence and its duration. 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 ✕ 'We expect the court's decision by around 1 pm on Friday, after which we will announce which operator will be awarded the temporary licence, effective from Sunday, June 1, for the duration determined by the court. The operators have indicated that a five-month operating licence is not feasible, so we approached the court to extend the temporary period to 12 months,' Tshigemane said. In its application to the court, the NLC argued that unless the Gauteng High Court amends its recent order limiting the temporary licence to five months, the temporary licence, set to begin on June 1, is widely expected to be awarded to Ithuba Lottery, a subsidiary of Ithuba Holdings. Ithuba Lottery has stated that a five-month licence is not financially viable. Meanwhile, Sizakhaya Holdings, announced as the successful bidder to take over from Ithuba after the temporary licence expires, requires at least nine months to prepare, according to an affidavit by NLC chairperson Barney Pityana. The licence has been the subject of extensive litigation in the Gauteng High Court, initiated by one of the bidders, Wina Njalo. Wina Njalo claimed that Minister Tau favored Ithuba by delaying the announcement and deciding to issue a temporary licence, arguing that only Ithuba has the infrastructure in place to qualify for it. BUSINESS REPORT Visit:
IOL News
19-05-2025
- Business
- IOL News
What can President Ramaphosa offer the White House in high-stakes US trade talks?
Diplomatic tensions between Pretoria and Washington could take a positive turn. President Cyril Ramaphosa is expected to meet US President Donald Trump this week to discuss bilateral relations. Image: SihleMlambo/IOL By Thabile Nkunjana On May 14, 2025, the Presidency office declared that President Ramaphosa would be travelling to the US for a working visit from May 19 to May 22. He is joined by John Steenhuisen, Minister of Agriculture; Parks Tau, Minister of Trade, Industry, and Competition; Ronald Lamola, Minister of International Relations and Cooperation; and Khumbudzo Ntshavheni, Minister at the Presidency. This comes after a string of topics that President Trump and his administration have brought up, including the conflict between Russia and Ukraine, the case against Israel in the International Court of Justice, and most recently, the allegations of "persecution" of white farmers that resulted in the migration of 49 Afrikaners to the United States. To mend the misinformation about South Africa that has caused misconceptions and to re-establish diplomatic relations between Pretoria and the White House, President Ramaphosa recently called Trump, and he is now heading to the US. What message about agricultural trade should the president convey at the White House now that he is travelling to the US? Based on trade data, South Africa is more economically dependent on the US than the US is on South Africa. For instance, in 2024, South Africa's total exports to the world were worth R2 trillion, with the U.S. accounting for R150.0 billion or 7%, the second-largest market after China. However, according to trade map data, South Africa only contributed 0.3% or R106.5bn of the R37.8trln in US exports to the world. Regarding the agricultural industry, South Africa exported R9.8bn worth of agricultural products to the US in 2024, a marginal increase from R9.1bn in2023. This amounts to 4% of the country's overall agricultural exports in 2024. This increase complements South Africa's agribusiness endeavours to broaden its global reach, including the US market, and create jobs, thereby supporting the country's job profile in the sector, transforming the economy, and contributing to the overall NDP 2030 strategy. Targeting the US market, the agriculture sector has spent billions of rand on infrastructure, research and others. Many South African farmers would have severe financial setbacks and employment losses, and export revenue would be seriously threatened in the medium-to short-term operations, if trade relations between the two countries deteriorate further. With many young and emerging orchards aimed at the US market, Western Cape farmers have contributed to a discernible increase in the amount of land under citrus cultivation in the province over the years. These investments go beyond trade, which is the focus of most of the analyses done to estimate the possible effects on South Africa of losing AGOA. In terms of commodities, exports, and job creation, the Western Cape will be severely impacted at the provincial level if AGOA is terminated or if tariffs are raised by almost 30% after July 10. For example, the Western Cape was responsible for 55% of agricultural exports to the US in 2022, with Mpumalanga (15%), Gauteng (10%), Eastern Cape (7%), and KZN (6%), following closely behind. As of 2024, the Western Cape is once again by far the greatest employer in the agricultural sector and the largest AGOA beneficiary from the agricultural sector in South Africa. With KwaZulu Natal, Mpumalanga, the Eastern Cape, the Northen Cape, and Limpopo all having many rural areas that would be affected negatively by any changes in trade with the US should things go south, the Western Cape comfortably accounts for roughly 20% of jobs within the agricultural sector in the country. A select few products dominated the US market, despite South Africa exporting hundreds of agricultural products to the rest of the world. Oranges, Mandarins, macadamia nuts, wine, ice cream, sugar, dried grapes, apple juice, peaches, and grapefruit juice were among them. The reality is that President Ramaphosa and his delegation are not travelling to the US on a clean slate. But from a political perspective, he has the expertise and experience to do so, and he has clearly stated the country's neutrality on several international geopolitical developments that are probably going to come up in the discussions. He is likely to have to deal with this before discussing trade and economic matters. South Africa might need to make a proposal after Qatar, the United Arab Emirates, and the United Kingdom made some significant promises to the US about trade and investment in recent days. Trump has stated unequivocally that he wants trade with countries that trade with the US to be reciprocal. As a result, the delegation to the US ought to get ready to compromise on trade. The US will probably demand that some of its agricultural products be imported into South Africa, as the agricultural sector has benefited noticeable from AGOA. This will be challenging due to phytosanitary regulations that have been a problem, particularly for livestock or animal products. If all regulatory requirements are fulfilled, compromises can be made for certain products, particularly those that are counter seasonal. Additionally, South African farmers do not receive the same level of support as American farmers, which has ramifications for the entire sector. Tariffs are likely the lower hanging fruit. Depending on the product, US farmers currently face tariffs in South Africa ranging from 0% to 17%. The President might perhaps be able to accommodate Trump's trade demands by lowering these tariffs to about 10%. Mr Thabile Nkunjana is a senior economist under the Trade Research Unit at the National Agricultural Marketing Council Image: LinkedIn * Thabile Nkunjana is a senior economist under the Trade Research Unit at the National Agricultural Marketing Council. ** He writes on his personal capacity, and does not, necessarily express views of IOL or Independent Media. Visit:
Daily Maverick
15-05-2025
- Politics
- Daily Maverick
Forget the lie of ‘white genocide' – the real crisis is a broken economy
This week, three seemingly unrelated events unfolded within 24 hours that, when viewed together and holistically, paint a sobering picture of the state of our nation. On Monday, 12 May 2025, 59 white Afrikaners boarded a chartered flight to the United States under the guise of seeking refuge from a so-called 'white genocide' in South Africa. It's a false concept that has been peddled by well-funded right-wing disinformation networks, a dangerous narrative designed to distort the truth of our country for political currency. At its core is a grievance about race-based laws and an apparent inability to remain in South Africa due to exclusion from economic opportunity. The following morning, I sat as a member of the Department of Trade, Industry, and Competition (dtic) portfolio committee as the department presented to Parliament its latest report on B-BBEE. What was meant to be a tool of redress, of economic justice, and of meaningful participation has instead become deeply flawed. Ownership is still not transformed. Most Charter Councils aren't even operational. Reporting is dismal. Only 35% of JSE-listed companies submitted reports in 2022. Black ownership in the formal economy has stagnated. And the poorest remain the poorest. Also on Tuesday, Stats SA released the latest Quarterly Labour Force Survey for the first quarter of 2025. Data is by its nature straightforward and devoid of bias or emotion. And the data showed the following: since 2014, unemployment among black South Africans has increased by 6.7%. Among white South Africans, it has declined by 1%. At the same time, the average monthly income of a white-headed household is R24,646. For a black-headed household, it is five times smaller at R5,297. When the myth of 'white marginalisation' is fed to the world, we must confront it not just as false, but as an inversion of the truth. Still, it would be dishonest to pretend that things are going well for anyone. They aren't – and this is the tragedy. Everyone is suffering. There is no group that is thriving in this stagnant, failing economy. We are, quite frankly, in a lose-lose scenario, in a race to the bottom. When there's no growth, we are forced to fight over scarcity. Like animals circling a drying watering hole, we begin to turn on one another instead of challenging the real cause of our hunger: a government that has failed to deliver growth, failed to transform and failed to govern. In Tuesday's dtic committee, I made the point that transformation must become truly broad-based. Empowerment without ownership is tokenism. And it is showing in these numbers. We must stop fighting for crumbs in the old economy and start building new economies, these being township economies, rural value chains and digital frontiers. That's how we create ownership from the ground up. But even this alone is not enough. South Africa's crisis is not just a crisis of stagnation, which breeds inequality. For over a decade, we've grown at an average of just 1% per year. That is slow collapse. And until we get serious about expanding the economy, we will remain trapped in this cycle – fighting each other, instead of fighting for a better country. Build One South Africa has proposed a Growth Charter, which we consider a serious roadmap to 5% GDP growth in three years. It includes: Investing in SMMEs, which already contribute 40% to GDP, but receive only 6% of bank loans; Modernising infrastructure, particularly through public-private partnerships to unlock water, transport and energy solutions; Reforming the labour market to make hiring easier and promote youth employment; Securing energy and ending load shedding by diversifying generation and decentralising the grid; and Expanding trade and industrial policy to open new markets and back value-added manufacturing. South Africa needs not just transformation, but a growth-driven economy. We need both equity and expansion. We need both ownership and opportunity. We need to build. So yes, let's confront the lies. Let's reject the myths of 'white genocide'. But let's also reject the false comfort of symbolic policies that fail to deliver real change. And let us remember that when the economy grows, hope grows. When people work, dignity returns. And when a country believes again, it can begin again. Let's stop managing decline and start building growth. DM
