South Africa’s exports to U.S. clients hit by higher tariffs as August activity eases
South African firms exporting to the U.S report challenging trading conditions, particularly with American buyers due to higher tariffs. In August, President Donald Trump slapped South Africa with a 30% tariff, targeting the country’s auto and agriculture industries. South Africa says these tariffs threaten roughly...
South Africa ports break daily cargo volume record in August amid reforms push
South Africa ports moved up to 18,689 Twenty-Foot Equivalent Units (TEUs) in a single day in August despite continued challenges of ageing infrastructure that often leads to processing delays. The record volume in cargo handled was the highest since the Covid-19 pandemic that triggered massive...
Cleantech deals top as startups in Africa secure $2Bn in seven months
African startups under cleantech lead in attracting financing with two massive funding deals sealed by Sun King and d.light. FinTech follows in funding volume reported, while African startups with a focus on big data and analytics are equally gaining momentum. Across July, six acquisitions were...
U.S. Senator Ted Cruz driving strategic American energy influence in Africa
Senator Cruz’s participation at African Energy Week: Invest in African Energies is expected to firm up U.S.-Africa energy ties. Known for his push for energy independence and market-driven growth, Senator Cruz’s message is expected to center on expanding private-sector investment. Texas lawmaker also set to...
Revving up: Africa’s auto industry steers toward prosperity
Africa’s automobile industry is growing at 7 per cent annually. Morocco overtakes South Africa as Africa largest automobile manufacturer. Volkswagen leads foreign investment in Africa automobile manufacturing investment. The Africa automobile industry is growing rapidly driven by rising middle class income and demand for public...
South Africa eyes October exit from illicit flows dirty list
South Africa has made progress in addressing most of the technical compliance deficiencies that were previously identified on illicit flows. It now has a change to exit the FAFT list by October. The country was flagged in February 2023 for deficiencies in combating money laundering,...
Ethiopia’s EEP Towers to rule over East Africa’s skyline at 1,074 feet
EEP Towers or Ethiopian Electric Power (EEP) Towers will be the headquarters of the utility and possibly East Africa’s tallest building. Construction of EEP Towers estimated to cost $445 million. Currently, at 1,292 feet, Iconic Tower in Egypt is the tallest structure in Africa. Ethiopia...
Trump’s tariff hammer falls on South Africa from August 1
South African exports to the U.S. would be subjected to a flat 30 per cent tariff, effective August 1, 2025. Trump accuses South Africa of maintaining one-sided trade practices that include “tariff and non-tariff barriers” and a “lack of reciprocity.” South Africa faults the move...
EU bets big on Africa’s critical raw materials to secure green future
In the six months to June 30, EU identified four major mining projects in Africa among its 13 globally strategic targets under the Critical Raw Materials Act. These projects spread across Malawi, South Africa, Madagascar and Zambia will receive direct EU financing and technical support....
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