Finance

Sugar tariffs to provide relief against imports in South Africa

The South African Sugar Association will engage with International Trade and Administration Commission and other relevant stakeholders to look at the long term sustainability of the industry. (Image source: Kirk Kittell/Flickr)

The recently endorsed International Trade and Administration Commission (ITAC) recommendation to adjust the sugar and increase import duty of US$680 per tonne will provide the immediate relief required by the industry and protection against the surge of imports, said Ncumisa Mcata-Mhlauli, chief director for agro-processing at the Department of Trade and Industry (the dti)

Orange invests in South African payment service Yoco

Yoco’s mPOS allows merchants to accept card payments using a smartphone or tablet. (Image source: lau rey/Flickr)

Orange Digital Ventures Africa, the Orange Group’s venture capital investment fund for Africa, has made a second investment in one of the continent’s most promising fintech companies, the South African Yoco

ITFC signs two financing agreements to support Egypt’s main sectors

During the signing ceremony. (Image source: ITFC)

The International Islamic Trade Finance Corporation (ITFC) has signed two new agreements with the Egyptian General Petroleum Corporation (EGPC) and the General Authority for Supply Commodities (GASC) initiating the utilisation of the fifth framework agreement

Congo’s RAWBANK signs the China-Africa Inter Bank Association establishment agreement

Creation of the China-Africa Interbank Association. (Image source: RAWBANK)

About 16 African banks including RAWBANK, the first banking institution in the Democratic Republic of Congo (DRC), and China Development Bank (CDB) signed an agreement for the establishment of the China-Africa Inter Bank Association in Beijing (CAIBA)

‘Africa needs to develop a policy response to the digital economy’

Developing countries need to develop digital industrial capabilities including ensuring high speed and cheap broadband. (Image source: rawpixel/Pixabay)

Dr Nimrod Zalk, industrial development advisor in the office of the director-general of the Department of Trade and Industry, has delivered the keynote address at a Workshop on ‘Digital Transformation in Africa: Leveraging the Promise and Addressing New Challenges’