Africa Business Communities

[SA Business Week] Blockchain to curb Cape Town water issues, taxi operators get a boost

Blockchain technology came into being in the early 2009. This invention was faced with a lot of backlash as well as lack of knowledge. Its legitimacy was also highly doubted, with people referring to it as a digital scam. However, this notion did not last for too long because with time, blockchain technology has proved to be the modern day problem solver.

In trying to curb water crisis in Cape Town, governments and municipalities are soliciting the expertise or software development companies to devise their water reserves . HashCash, a blockchain technology consultant, has been enlisted for this service. The drought, which had been triggered by El Nino, had taken over from Cape Town's predicament that it had declared a national disaster.

In trading this week, The US Department of Commerce has granted product exemptions for imports of aluminum and 36 steel products from the Section. Earlier in the year,  President Trump signed a Proclamation imposing a 10 percent ad valorem tariff on imports of aluminum articles and a 25 percent ad valorem tariff on imports of steel articles for national security purposes. However, the product exemptions are applicable to companies in the United States. The Government of South Africa made submissions to the US Government requesting a country exemption from Section 232 duties. In addition, South Africa urged the domestic exporters of steel and aluminum to encourage their buyers and distributors to consider applying for product exemption. 

Still in trading, global logistics specialist Tigers is supporting the export of South African wine to Germany and the USA by streamlining the B2B supply chain for Anthonij Rupert Wyne through end-to-end solutions . Tigers is working with Anthonij Rupert Wyne, based in Franschhoek, South Africa, by providing warehouse facilities and transporting their inventory directly from South Africa to Germany, and across certain states in the USA. Anthonij Rupert Wyne is a family-owned estate with state-of-the-art profitemaking facilities and ambitions for global brand expansion, which is being supported by Tigers.

The executive leadership for the newly formed MultiChoice Group (formerly Naspers' Video Entertainment business) was announced this week . Further appointments include Tim Jacobs as Chief Financial Officer and Brand de Villiers as Group Chief Operating Officer. These appointments will be effective November 1, 2018. The listing and unbundling of MultiChoice Group will create an empowered, top 40 JSE entertainment company that is profitable and cash generating. Multichoice Group is expected to join the JSE in the first half of 2019 and will include MultiChoice South Africa, MultiChoice Africa, Showmax Africa, and Irdeto.

Invest SA won top UNCTAD award at the United Nations Investment Promotion Awards for its excellence in boosting investment in sustainable development and development countries (SDGs). The award was presented at a high-profile ceremony at the Assembly Hall of the Nations, Geneva, Switzerland, at the grand opening of the World Investment Forum.  The event was hosted by the United Nations Conference on Trade and Development (UNCTAD), honors investment promotions agencies and their governments for their achievements, but also showcases best practices in attracting investment in SDG -related projects.

In the transport industry, the African Development Bank has approved over $ 100 million in loans to SA Taxi Development Finance Limited, a wholly owned subsidiary or SA Taxi Finance Holdings Proprietary Limited. It is also a vertically integrated business platform that provides comprehensive financial and allied services to minibus taxi operators. The minibus taxi system accounts for about 69 percent of all public transport trips in South Africa . The financing will support the Company's growth plans and initiatives to support Small and Medium Enterprises (SMEs) in the country's mass transit segment. 

The Development Bank of Southern Africa (DBSA) has announced that it has been awarded funding to the value of USD $ 55.6m from the Green Climate Fund (GCF) to a R2 billion Climate Finance Facility (CFF). The CFF is a debt facility that aims to address market constraints in the private sector and plays a catalytic role with a blended finance approach in increasing climate related investments in Southern Africa.  The GCF is a global fund set up as a funding mechanism for the United Nations Framework Convention on Climate Change (UNFCC) to support developing countries in responding to climate change. The DBSA will provide R650 million and is in advanced discussions with a local institution for the balance.




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