The Department of Telecommunications and Postal Services has called on Small Micro and Medium Enterprises (SMMEs) to submit information about their...

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South Africa is fostering closer trade relations with Mozambique, which is one of the seven fastest growing economies in sub-Saharan Africa, says the Department of Trade and Industry (dti).

“Mozambique is amongst the seven fastest growing economies in sub-Saharan Africa and we cannot achieve economic growth if our economies are not linked.

“It is important to understand that we are pursuing a mutually beneficial regional economic development agenda, and for us to turn around our economy we need to be outward looking in order to strengthen trade with our neighbouring partners,” said the Director for Export Promotion at the dti, Dr Julius Nyalunga.

Nyalunge was speaking at the 50th Jubilee of the Feira International de Maputo (FACIM) Fair, in Maputo. Currently 29 export ready small and medium South African companies sponsored by the dti are showcasing their products and services at FACIM.

Dr Nyalunga highlighted that although the biggest challenge in African countries is economic diversification, human capital is key to successful business in Mozambique.

“Africa contributes only 2% of the world’s exports; therefore South African companies should fast-track trade with their Mozambican partners in order to achieve economic diversification,” he added.

The head of Business Linkage Services at the Centre for Promotion of Investment (CPI) in Mozambique, Antonio Makamo, said strong investment opportunities exist in sectors like construction, mining and petroleum and strong relations between the two countries will be mutually beneficial.

Additionally Mozambique also has abundant reserves in gas, coal, agriculture and forestry.

Makomahe further stated that Mozambique will tap into South African expertise to overcome hindrances in economic growth.

For Mozambique, a lack of infrastructure development is one of the biggest challenges it faces.

“Mozambicans cannot easily grow their oil sector because of lack of infrastructure and know-how. We are counting on South African expertise to grow this sector through your proven track record in the rail sector,” alluded Makomahe said.

In recognising South Africa’s continuous contribution to development and implementation of FACIM, Mozambican President Armanda Geubuza, awarded SA with a diploma of merit.

FACIM will conclude on Sunday. - SAnews.gov.za

The South African Reserve Bank (SARB) considers the local banking sector to be healthy and robust and does not agree with the decision of rating...

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A delegation of South African companies has arrived in Maputo, Mozambique, where they will showcase their products and services at the 50th Jubilee of the Feira International de Maputo (FACIM) Fair.

The 29 companies are participating in the fair, which kicks off today, with the help of the Department of Trade and Industry (dti).

The aim of participating in FACIM is to tap into the growing Mozambican market in the transport and communication industries, where South African companies have the capability to supply services and capital equipment.

“Mozambique is one of South Africa’s Top-5 trading partners in Africa and we want to expand our market share to enable our companies to compete with other countries that have since made substantial inroads into the country,” said the dti’s Economic Counsellor in Mozambique, Matome Kgowedi.

The director of Export Promotion at the dti, Dr Julius Nyalunga, said Mozambique is one of South Africa’s most important strategic countries with relation to the Trade and Investment South Africa’s diversification strategy on Africa.

“It is one of the countries that we are targeting with the understanding that it is amongst the ten fastest growing economies in the world, and that it has signed a number of Memoranda of Understanding (MoU) with South Africa that seek to strengthen trade relations,” said Nyalunga.

He further said that they want to increase the market share of South African companies in Mozambique.

“We also intend to increase South African outward investment into Mozambique, but it is interesting for us to understand that if we are not going to aggressively participate in Mozambique, there is going to be a challenge because role-players from the world over are here and they are trying to get a foothold into Mozambique’s market.”

The purpose of FACIM is to promote commercial activities, stimulate production and consumption, and enhance the economic integration of Mozambique in the world economy.

FACIM runs from today until Sunday.

The delegation comprises 19 small, medium and micro-sized enterprises, four historically disadvantaged companies and six emerging exporters. - SAnews.gov.za

The South African Reserve Bank (SARB) says while it has taken note of rating agency Moody’s decision to downgrade Capitec Bank Limited, it does not agree with the decision. Two reasons were given for the rating action: a lower likelihood of sovereign systemic support based on decisions recently taken in relation to African Bank Limited [...]SARB disputes downgrade of Capitec Bank is a post from: South Africa Business



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The Trade Activity Index (TAI) declined by four index points in July, said the South African Chamber of Commerce and Industry (Sacci).

The seasonally adjusted composite Trade Activity Index (TAI) declined by 4 index points to 48 in July 2014, from 52 in June 2014, said Sacci on Thursday.

The trade conditions index was stable and has been close to the 50 mark since February 2014.

“July was the first month in 2014 in which trade conditions dipped well below 50. With uncertain economic prospects, pressure on the trade sector is broad based and all trade activity sub-indices were in negative territory in July 2014,” said Sacci.

The July 2014 TAI is 10 index points below the July 2013 TAI.

According to Sacci, the sales volumes sub-index was eight points lower than in July 2013 while the new orders sub-index is 15 points lower than in July 2013 and indicative of a challenging period ahead.

Even supplier deliveries, which was above 50 points for the last five months, plunged to 39 in June 2014. The inventories index in July declined by five index points to 48.

The softer trade conditions took some pressure off prices as the selling price sub-index decreased by 6 index points to 58 while the input price index remained on 70 – much higher than the selling price index.

“This divergence in prices will further squeeze profit margins. Real financing costs increased as interest rates rose by 0.25 percentage points thereby placing more pressure on debt burdened consumers and increasing financing costs for businesses,” explained Sacci.

Price expectations softened with both the selling and input price expectations indices retracting in July.

In July 2014, the employment conditions index in the trade environment contracted to 46 from 48 in June 2014. “The prospects for employment in the trade sector, however, improved to 51 following the earlier increase by 1 index point in June 2014.” – SAnews.gov.za

Consumer and business finance company afb has launched an innovative Business Cash Advance product for Small and Medium Enterprises (SMEs) in Kenya. A first of its kind, the product offers eligible SMEs unsecured cash advances of up to Kshs 5 million, to help them with working capital for their business growth and expansion. The product [...]AFB launch Business Cash Advance product is a post from: South Africa Business



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Statistics South Africa has released the findings of a survey, which revealed that the number of people running informal businesses has increased...

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It’s difficult to invest in from abroad, because of controls on foreign inflows and ownership. Most investors take the easy route of buying into funds. FE Trustnet lists four investment trusts (closed-end funds), 28 mutual funds/unit trusts/OEICs, 19 ETFs and 30 offshore Indian funds.

The best performers over the past five years have been: First State Indian Subcontinent A (117 per cent); Golden Sachs’ India Equity Portfolio Base (89 per cent); Aberdeen Global Indian Equity D2 (80 per cent) and Aberdeen’s investment trust New India (75 per cent).

However, you can invest directly in several of the larger Indian companies that have ADRs/GDRs listed in New York.

Here’s a new list of them provided by FullerTreacyMoney’s Eoin Treacy: Bharat Forge, Dr Reddy’s, HDFC Bank, ICICI Bank, IndiaBulls Housing Finance, Infosys Technologies, Ranbaxy Laboratories, State Bank of India, Tata Motors, WIPRO.

source OnTarget by Martin Spring

KwaZulu-Natal (http://www.globalbuzz-sa.com/kzn) Premier Senzo Mchunu will today host the newly appointed Ambassador of Indonesia, Suprapato...

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