Verdant Capital Hybrid Fund completes a USD 3 million investment in Bfree

Source: APO

Verdant Capital is pleased to announce that its Verdant Capital Hybrid Fund (the “Fund”) (https://Verdant-Cap.com/) has completed a USD 3 million investment loan in Bfree. This investment will be used for distressed loan portfolio financing whereby Bfree will be purchasing distressed loan portfolios from inclusive financial institutions in Africa. In addition, Bfree will benefit from initiatives supported by the Fund’s technical assistance facility.

Bfree was established in 2020, and it is a leading ethical and digital credit collection company in Africa. Bfree delivers digital and ethical collection processes on distressed loan portfolios that comply with the global industry ethical collection standards. Distressed loan portfolio financing remains underexplored in Africa due to several factors including the lack of effective collection procedures on distressed loan portfolios, lack of accurate date for valuation of distressed loan portfolios, loan transferability issues, price variations, and ineffective judicial procedures. Bfree’s streamlined and principled collection services address the challenges of large-scale collections in the Retail and Small and Medium Enterprise (SME) lending sectors in Africa. Bfree is significantly contributing to the reduction of distressed loan portfolios in the financial services sector in Africa. Bfree utilises a loan portfolio pricing model which uses proprietary data to predict repayment rates for the distressed loan portfolios. Since its incorporation five years ago, Bfree has experienced remarkable growth, serving over 6.6 million borrowers with an estimated loan portfolio value of over USD 740 million across its markets of operations.

This investment aligns with the Fund’s mandate of providing funding to financial institutions and impacting positively on the borrowers who have defaulted on their loans with the end goal of increasing their repayment rates and ultimately their credit scores as well as customer satisfaction. In addition, BFree is aiding the financial services sector by providing capital through purchasing of distressed loan portfolios that would typically have been written down to zero. This adds both capital and liquidity to financial institutions and allows them to focus on their core business of lending.

This investment is yielding for the Fund, a return aligned with the Fund’s return target, reinforcing the value of supporting high-impact financial inclusion initiatives in emerging markets.

Distributed by APO Group on behalf of Verdant Capital.

Media Enquiries:
Verdant Capital

Orient Mahonisi
Team Assistant
T: +27 10 140 3700
E: orient.mahonisi@verdant-cap.com

Bfree
Chukwudiebele Enyi
Co-founder
T: +234 808 323 0727
E: chuks@bfree.africa

About Verdant Capital: 
Verdant Capital is an investment manager and investment bank specialising in the private capital markets and operating on a Pan-African basis. Verdant Capital is the manager of the Verdant Capital Hybrid Fund. 

https://Verdant-Cap.com/

About Bfree: 
Bfree is a leading AI-powered digital credit collection company in Africa, specialising in ethical recovery of distressed loan portfolios. Bfree leverages advanced technology to deliver compliant, transparent, and respectful collection processes, aligned with global standards for ethical debt recovery.

www.Bfree.io

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Western Cape concerned at 23 deaths on province’s roads in one week

Source: Government of South Africa

The Western Cape Government has expressed deep concern at the number of pedestrian fatalities and drunk driving arrests recorded during the past week. 

Between 30 June and 6 July 2025, 23 people lost their lives in 23 crashes on Western Cape roads. 

These include 15 pedestrians, four drivers, three passengers, and one motorcyclist. 

The province believes the figures serve as a sobering reminder that reckless behaviour on the roads continues to have devastating consequences, particularly for the most vulnerable road users.

“The loss of lives on our roads is avoidable and requires collective action. Too many innocent lives are impacted and altered by the poor judgment and decisions of road users,” said Western Cape Mobility MEC Isaac Sileku.

Sileku said it was most alarming that 57 people were arrested on suspicion of driving under the influence of alcohol during a week marked by heavy rain across the province. 

“Driving while under the influence, no matter how small the amount, will not be tolerated. Drivers are urged to always prioritise safety,” added Sileku.

The provincial government said the winter season brought added challenges for all road users. 

“Shorter days, poor visibility, wet roads, and adverse weather conditions increase the risk of incidents, especially for pedestrians.” 

Meanwhile, the Western Cape Provincial Government said driving under the influence remained one of the leading causes of road crashes and fatalities. 

To improve safety and visibility on the roads, the Western Cape’s Provincial Traffic Services conducted 213 integrated roadblocks, vehicle checkpoints, and speed control operations across the province during the past week. 

Over 27 000 vehicles were stopped and checked, resulting in just over 4 000 fines issued for various traffic violations. 

A total of 78 arrests were made for various offences, including 57 for driving under the influence of alcohol, 11 for possession of fraudulent documentation, four for reckless and negligent driving, three for vehicles with overloaded goods, two for failure to furnish information, and one for speed-related arrest. 

The Western Cape Government continues to urge all road users to act responsibly, especially during adverse weather conditions.

“Pedestrians remain our most vulnerable road users, and the numbers recorded this weekend are a stark reminder. We all have a role to play in protecting lives on our roads, let’s drive, walk, and act with care,” the MEC added.

Tips for motorists and pedestrians: 

•    If you plan to drink, arrange for a sober driver, taxi, or e-hailing service.

•    Never let a friend drive under the influence.

•    Be part of the solution, report reckless drivers when it is safe to do so.

•    Pedestrians are urged to take personal responsibility when heading out and wear bright or reflective clothing, especially in poor light conditions.

•    Cross only at designated crossings or intersections where drivers expect to see pedestrians.

•    Avoid distractions such as cellphones and headphones when walking near or across roads.

•    Do not walk under the influence of alcohol. 

•    Stay alert, always assume drivers cannot see you. – SAnews.gov.za

Have your say on the Review of the White Paper on Local Government

Source: Government of South Africa

Have your say on the Review of the White Paper on Local Government

While the recent inclement weather conditions have reminded us of the power that mother nature wields, it has also served to remind us about how municipalities are run, and their importance.

As inclement weather often brings damage to homes, roads and other infrastructure, municipalities are often the first port of call for residents in such disasters. They are at the coal face of coordinating help for residents, including shelter, food and clothing.

Given the importance of matters of local government, Cooperative Governance and Traditional Affairs (COGTA) Minister Velenkosini Hlabisa has extended the deadline for submissions on the Review of the White Paper on Local Government.

The Minister extended the initial deadline that had been set for 30 June to 31 July 2025, due to requests from stakeholders across the country for additional time to prepare and submit inputs. 

The Ministry said the extension provides an opportunity for broader consultation and deeper reflection while also encouraging interested individuals and organisations to take full advantage of the additional time to submit their views.

“The Ministry recognises the importance of inclusive participation in shaping a responsive and effective system of local governance and thus welcomes the active engagement from all sectors of society,” the Ministry of Cooperative Governance and Traditional Affairs said.

These contributions are essential in strengthening the future of local government and it is crucial for citizens to make their comments count.

Like the weather, local government has an impact on daily life – whether it be refuse collection, the maintenance of roads, or the provision of electricity.

In the Government Gazette dated 10 April 2025, Minister Hlabisa invited the public, civil society, public institutions and interested stakeholders and all three spheres of government to provide comments towards the review.

Among others, the review speaks to the challenges brought on by the changing weather patterns.

This as the Eastern Cape Provincial Government announced that the floods that battered parts of the province last month claimed 103 lives. The victims include 38 children and public servants who were among the first responders. 

In total, in June, South Africa lost 107 lives because of the disaster, of which three were in KwaZulu-Natal and one in the Western Cape.

In the aftermath of the disaster, government announced a substantial Disaster Recovery Grant, allocating R1.2 billion to municipalities affected by recent disasters.  

Climate change is among the nine interconnected priorities for change that are up for discussion in the review document.
According to the review, the “escalating climate crisis” which has “profoundly reshaped municipal governance priorities,” necessitates that local authorities balance the immediate service delivery demands with long-term resilience planning. 

While it feels like mother nature is playing a cruel trick on us in the month that South Africa marks Environment Month, the review notes that municipalities are operating in an era in which climate considerations are present in every aspect of urban and rural management.

“In addition to revealing critical deficits in institutional capacity and resource allocation, this paradigm shift has required structural reforms in financial planning, infrastructure development, and cross-sectoral coordination,” it notes, while also stating that municipalities have been compelled to become frontline responders for climate adaptation.

According to the document, municipal budgets have borne the brunt of climate-induced disasters, with extreme weather events between 1998 and 2025 increasing emergency expenditures by 320% across South African cities. 

Flooding in Durban during the 2022 rainy season required R780 million in unplanned drain clearance and road repairs, diverting funds from scheduled housing projects.

“The frequency of such events has necessitated permanent budget line items for disaster response,” noted the report adding that coastal municipalities like Nelson Mandela Bay have seen 22% decreases in rates income from properties in flood-prone areas since 2018.

Additionally, critical municipal infrastructure built to 20th-century climate standards now operate beyond their design thresholds.

According to the document, the key challenges in local government show a breakdown in finance, governance and service delivery resulting in high and growing debt, instability in councils, and a deterioration in and lack of maintenance of infrastructure assets.
The review notes that local government performance has regressed due to a variety of administrative, governance, service delivery, infrastructure, financial, structural, and systemic challenges.

“The failure to do the basics well has become a major constraint on attracting investment, fostering growth, creating jobs, promoting human development, and serving citizens,” it said.

Key areas 

Government has prioritised the reform of the local government system to ensure it does not continue to be a limiting factor in the country’s development.

The other eight interconnected priorities for change in the document are: municipal fiscal and financial reform; manipulative conduct, culture and behaviour, unethical practices and poor accountability; overpoliticisation of municipalities; poor oversight over local government at national and provincial level; weak integration of traditional governance systems; poor relationships with citizens; inability of spheres of government to meaningfully collaborate and persistent spatial inequalities.

Under the issue of municipal fiscal and financial reform, the document states that local government fiscal and financial challenges are multifaceted and impact the delivery of basic services, citizen confidence, and the long-term viability of the local government system.
The document states that the discussion options for a new local government financial model will need to take into account why levels of local government own revenue have declined, with rising debtors resulting in failure to realise potential revenue.

It will also need to consider why expenditure is rising above revenue and, at the same time, declining service delivery, as well as persistent weaknesses in internal controls and financial governance, among others.

On the matter of manipulative conduct, culture and behaviour, unethical practices and poor accountability, the document notes an emergence of “a bureaucratic, hierarchical, command-and-control, and compartmentalised local government institutional culture”.

This according to the document, has distanced many municipalities from the people they serve with manipulation and methods aiming at maintaining power and/or rapid enrichment having spread, resulting in corrupt, nepotistic, and unethical activity in municipalities.

“Culture change needs to start with ethical leaders in all three spheres of government who model transparency, accountability, agility, and responsiveness and support strengthening of anti-corruption measures,” noted the review.

Meanwhile on the priority of poor relationships with citizens, the document states that there is a large divide between many municipalities and their communities (including residential, business, university, and institutional communities). 

“The fact that as of 2024, households owe municipalities a staggering R230.5 billion (74% of total municipal debt) is an indicator of the broken social contract.”

It further goes on to say that a three-way partnership between the elected political structure, the administration, and the community is part of the original conceptualisation of municipalities in the 1998 white paper.

“However, relationships have increasingly become strained and, in some cases, have broken down, hence the need for a focus on ways to improve three-way relational governance at the municipal level, within a whole of government and whole of society framework.”

Meanwhile on the issue of persistent spatial inequalities, the document noted that the persistence of spatial inequality in South African towns and cities remains one of the most pressing challenges of the post-apartheid era. 

“Despite three decades of democratic governance, the colonial and apartheid-era urban form, characterised by racial segregation, economic exclusion, and fragmented landscapes, continues to define South Africa’s towns and cities,” it said.

While adding that policies like the Integrated Urban Development Framework (IUDF) and the Spatial Planning and Land Use Management Act (SPLUMA) have sought to dismantle this legacy, progress has been hindered by fragmented implementation, among others.

The document noted that the nine focus areas represent “just some of the initial reflections on the causes of local government system failure; the list is not exhaustive.”

The document notes that the process of local government reform in South Africa faces the persistent and deepening weaknesses of the local government system itself and policy implementation failure are pressing challenges.

“These two challenges need to be tackled simultaneously. If the policy reform and implementation processes are not significantly improved and recommendations are not translated into action, the necessary system changes will once again not be made or sustained,” it said.

Local government achievements

While the white paper speaks to the challenges the country faces, there have been several achievements since the dawn of democracy, including the devolution and establishment of autonomous municipalities with constitutional powers to manage local development. 

Other successes include a stable, functional democracy with regular elections established at the local level, including ward committees and other mechanisms for community engagement.

It also includes the merging of fragmented local authorities into inclusive municipal systems. 
Other developments include the expanding of access to basic services, including an increase in electricity and water provision as well as the Adoption of the Free Basic Services policies. 

The document states that the review presents a crucial opportunity to assess progress, identify challenges, and propose policy reforms to enhance local governance. 

“Central to this process is public participation, ensuring that diverse perspectives contribute to shaping an inclusive and effective local government system,” noted the document.

The White Paper can be accessed on: https://www.cogta.gov.za/index.php/wplg-page/ .

Contributions can be submitted via email to WPLG26@cogta.gov.za,  oRichardP@cogta.gov.za  or MaphutiL@cogta.gov.za. 

Submissions can also be made to the following postal address: 
Minister of Cooperative Governance and Traditional Affairs
Attention: Mr Thabiso Richard Plank (WPLG26 Policy Review)
Private Bag X802, Pretoria, 0001
Alternatively, submission can be dropped off at 87 Hamilton Street, Arcadia, Pretoria. 

SAnews.gov.za

Neo

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Afreximbank President Launches New Edition of Structured Trade Finance Book at 32nd Annual Meetings

Source: APO

African Export-Import Bank (Afreximbank) (www.Afreximbank.com) launched the second edition of Foundations and Evolution of Structured Trade Finance, a landmark publication on a specialised field of trade finance shaped by decades of real-world application.

Authored by Professor Benedict O. Oramah, President and Chairman of the Board of Directors of Afreximbank and a pivotal figure in the development of Structured Trade Finance (STF), the book provides a practical, step-by-step guide to structuring trade finance transactions. It delves into real-world case studies, explores risks and the theoretical foundations of STF, and broadens its scope beyond commodities to address a wide range of trade scenarios.

The updated edition introduces dedicated chapters on reserve-based lending, supply chain finance, and the use of emerging technologies in structured trade finance. These additions make the book particularly relevant in today’s complex and increasingly risk-sensitive global regulatory environment.

Speaking at the book launch and signing event held during the 32nd Afreximbank Annual Meetings in Abuja, Nigeria, Professor Oramah reflected on the significant progress made in trade finance since the early 1990s.

“When I joined Afreximbank in 1994 the world was still grappling with a severe sovereign debt crisis, and structured trade finance was just beginning to emerge as a tool for financing trade in challenging markets.

“As Afreximbank began operations in 1994, we embraced structured trade finance for its ability to mitigate risk. At its core, structured trade finance enables practitioners to be innovative, as its fundamental principle allows for the transfer of risks from parties who are less able to bear them to those who are more capable of absorbing shocks,” said Professor Oramah.

The first edition of the book highlighted trade finance structures that largely supported North-South trade—an approach that contributed to trade diversion, with businesses often favouring extra-African over intra-African trade due to more accessible financing.

Today, global trade dynamics have shifted dramatically. South-South trade now dominates, with Africa’s trade with other developing countries rising from approximately 23% of its total trade in 1995 to an estimated 68% in 2024. Over the same period, Africa’s trade with advanced economies has declined to less than 50%.

Structured Trade Finance has played a transformative role in reversing Africa’s trend of de-industrialisation. By extending beyond commodity-based structures, STF has supported the emergence of African manufacturing hubs, fostered regional and domestic value chains, and enabled the growth of small and medium-sized enterprises. Afreximbank continues to build the continent’s economic future on this foundation of innovation and resilience.

The second edition of Foundations and Evolution of Structured Trade Finance is now available via Globe Law and Business (www.GlobeLawAndBusiness.com), Amazon, and major retailers including Blackwell’s, Waterstones, Wildy’s, Baker & Taylor, and Gardners.

Distributed by APO Group on behalf of Afreximbank.

Media Contact:
Vincent Musumba
Communications and Events Manager (Media Relations)
Email: press@afreximbank.com

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About Afreximbank:
African Export-Import Bank (Afreximbank) is a Pan-African multilateral financial institution mandated to finance and promote intra- and extra-African trade. For over 30 years, the Bank has been deploying innovative structures to deliver financing solutions that support the transformation of the structure of Africa’s trade, accelerating industrialisation and intra-regional trade, thereby boosting economic expansion in Africa. A stalwart supporter of the African Continental Free Trade Agreement (AfCFTA), Afreximbank has launched a Pan-African Payment and Settlement System (PAPSS) that was adopted by the African Union (AU) as the payment and settlement platform to underpin the implementation of the AfCFTA. Working with the AfCFTA Secretariat and the AU, the Bank has set up a US$10 billion Adjustment Fund to support countries effectively participating in the AfCFTA. At the end of December 2024, Afreximbank’s total assets and contingencies stood at over US$40.1 billion, and its shareholder funds amounted to US$7.2 billion. Afreximbank has investment grade ratings assigned by GCR (international scale) (A), Moody’s (Baa1), China Chengxin International Credit Rating Co., Ltd (CCXI) (AAA), Japan Credit Rating Agency (JCR) (A-) and Fitch (BBB-). Afreximbank has evolved into a group entity comprising the Bank, its equity impact fund subsidiary called the Fund for Export Development Africa (FEDA), and its insurance management subsidiary, AfrexInsure (together, “the Group”). The Bank is headquartered in Cairo, Egypt.

For more information, visit: www.Afreximbank.com

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Eritrea: Construction of Dams in Mai-Mne Sub-zone

Source: APO


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Three dams have been constructed in Mai-Mne sub-zone, Southern Region, at a cost of over 20 million Nakfa. The construction was carried out through a joint effort by the Southern Region administration and members of the Defense Forces.

The dams, with capacities of 250,000, 85,000, and 75,000 cubic meters respectively, are expected to make a significant contribution to the provision of water for both the population and livestock in the areas.

Engineer Gebreselasie Semere, coordinator of the project, stated that the primary goal of the dam construction is to ensure a sustainable supply of potable water for the Mai-Mne semi-urban center. The dams will also support the development of irrigation-based farming.

Lt. Col. Abraham Haile, administrator of the sub-zone, highlighted the role of the dams in ensuring access to clean water and advancing development programs. He also praised the contributions of Government institutions and the public in completing the construction.

Mai-Mne sub-zone, which includes 76 villages, is located 90 kilometers south of Mendefera city.

Distributed by APO Group on behalf of Ministry of Information, Eritrea.

Call for Strengthening Organization

Source: APO


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At an activity assessment meeting held on 7 and 8 July, the National Union of Eritrean Women branch in the Southern Region called for enhanced organizational capacity, particularly among young women.

According to the report presented at the meeting, 65% of the programs planned for 2025 have been completed. In addition, 118 women have been elected as area administrators and managing directors, and 850 women as village coordinators. Encouraging awareness-raising activities were also conducted in collaboration with partners to eradicate underage marriages and other harmful practices.

Participants held extensive discussions based on the reports presented by the heads of 12 sub-zones in the region, focusing on achievements recorded and challenges faced.

Ms. Senait Afwerki, head of the union branch in the Southern Region, provided a briefing on the activities implemented during the first half of the year and called for reinforced participation to achieve better outcomes.

Ms. Amete Neguse, Secretary of the PFDJ in the region, commended the successful implementation of various activities over the past six months and urged for strengthened efforts in executing the programs scheduled for the second half of the year.

Distributed by APO Group on behalf of Ministry of Information, Eritrea.

Rollout of military veterans’ pension to resume once review process completed

Source: Government of South Africa

Rollout of military veterans’ pension to resume once review process completed

The Department of Military Veterans (DMV) has announced that the rollout of the military veterans’ pension will continue once a review process is completed. 

This decision comes after approximately 300 military veterans expressed concerns about delays in receiving their pensions.

“We acknowledge the hardship faced by military veterans and recognise their frustration. This benefit is a vital intervention aimed at restoring dignity and improving the quality of life of those who served this country with honour,” the statement read.

However, the department emphasised the need to clarify that the delays were caused by the budgetary constraints that currently affect it.

“It has become evident that the regulations governing the disbursement of the military veterans’ pension need to be reviewed. Once this process is complete, the department will resume the rollout of the military veterans’ pension, ensuring that deserving military veterans receive the financial assistance they are entitled to.” 

Since the implementation of this benefit in November 2023, the department said over 4 378 military veterans have successfully received their military veterans’ pensions. 

The department said it continues to work closely with the Government Pensions Administration Agency (GPAA) to process and pay new beneficiaries as they are verified.

“In the future, we appeal to military veterans to engage directly with the GPAA to check on the status of their applications and to raise any challenges so that they can be addressed timeously. We remain committed to upholding the dignity of all military veterans.” 

Last week, the Portfolio Committee on Defence and Military Veterans expressed concern at the ongoing challenges faced by military veterans, many of whom remain in limbo due to delays in receiving their service-related benefits. 

The committee also expressed concerns regarding the DMV’s lack of a functioning internal audit unit, an essential tool for ensuring financial accountability and risk management.

“The committee highlighted the need for urgent intervention by the executive to turn around the DMV, starting with the appointment of a permanent Director-General, re-evaluating the organisational structure, addressing the findings of the Auditor-General, and developing a more responsive department.” – SAnews.gov.za

Gabisile

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Spaza Shop Support Awareness campaign moves to Beaufort West

Source: Government of South Africa

Spaza Shop Support Awareness campaign moves to Beaufort West

In its continued efforts to uplift township and rural-based businesses, the Department of Trade, Industry and Competition (the dtic), in collaboration with the Department of Small Business Development (DSBD) is set to host a Spaza Shop Support Awareness Campaign in the Western Cape.

Friday’s session is scheduled to take place at the KwaMandlenkosi Community Hall in the Beaufort West Local Municipality and is open to informal traders, spaza shop owners and micro-retailers operating in the area.

This community-focused initiative follows the national launch of the R500 million Spaza Shop Support Fund in April 2025 by dtic Minister Parks Tau and DSBD Minister Stella Tembisa Ndabeni.

The fund aims to help small retailers transition into the formal economy, access funding, and strengthen their businesses.

Delivered in partnership with the Small Enterprise Development and Finance Agency (SEDFA) and the National Empowerment Fund (NEF), the campaign offers practical tools, guidance on compliance, and pathways for inclusion in formal supply chains.

Attendees in Beaufort West will have the opportunity to engage directly with programme implementers, ask questions about the application process, and learn more about the business development resources available to them.

According to the Minister Tau, the fund represents a concrete step by government to formalise and empower the informal sector. He said supporting spaza shops means enabling entrepreneurs, often women and young people, to participate fully in the economy.

“These small businesses generate employment, drive local commerce, and channel much-needed income into communities that have long been underserved. Studies show that small businesses account for a significant portion of job creation in South Africa. 
“By providing spaza shop owners with financial support, infrastructure upgrades, and essential business training, we are setting the stage for sustainable job creation,” the Minister explained.

Meanwhile, Ndabeni said the role played by SEDFA and the NEF is deeply appreciated and that her department believes the fund will go a long way in assisting shop owners who are registered and hold valid operating permits.

“Our partnership ensures that spaza shop owners are not only funded but also trained, mentored, and integrated into reliable supply chains. This is about building long-term sustainability for township retail,” Ndabeni said.

Through initiatives like this, government aims to ensure that township and rural-based convenience shops are better equipped to thrive in a competitive market. – SAnews.gov.za

Edwin

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B-BBEE Commission, BMF establish framework for cooperation and information sharing

Source: Government of South Africa

B-BBEE Commission, BMF establish framework for cooperation and information sharing

The B-BBEE Commission and the Black Management Forum (BMF) will today concretise their partnership through a Memorandum of Understanding (MoU).

The MoU is a culmination of years of close cooperation between the B-BBEE Commission and the BMF. 

The MoU signing ceremony will coincide with a dialogue entitled, “Safeguarding B-BBEE amidst challenges in implementation” and will feature an expert panel who will explore the status of Broad-Based Black Economic Empowerment (B-BBEE) and the challenges that need to be resolved in order for it to achieve its objectives as per the B-BBEE Act. 

President of the BMF, Mpho Motsei, said Black Economic Empowerment was conceived from grassroots movements of black business and professional associations, which included the BMF. 

“It is therefore appropriate for BMF to play a part in the enhancement and safeguarding of the legislation that we helped to conceive, more than 30 years ago,” Motsei said. 

“We are therefore delighted to work with the B-BBEE Commission, as a regulator that provides oversight on the implementation of the legislation that was designed to elevate black people from social and economic subjugation.

“This event occurs at a time when B-BBEE and other transformation policies have been under attack both in the media and the public space. Views on B-BBEE remain divided and there continues to be a lack of understanding with regard to the crucial role B-BBEE plays in bringing about a society that is equitable and inclusive, as mandated by the Constitution of the Republic of South Africa,” he said. 

The dialogue seeks to reframe the discussion on B-BBEE and transformation, by paying particular focus on building an inclusive economy through B-BBEE policy and legislation. 

In doing so, the commission and BMF hope to re-ignite public discourse around the crucial issues of nation building, economic inclusion and compliance with the legislation, thereby safeguarding the objectives of B-BBEE policy. 

The MoU will seek to establish a framework of cooperation and sharing of information and ideas, within the parameters of the B-BBEE legislation, specifically in the following areas: 

• Strategies meant to promote economic transformation in the public interest; 

• Sectoral dynamics which may hinder or promote the prospects of economic transformation;

• Advocacy and awareness programmes on transformation and B-BBEE;

• Developments related to the racial composition of ownership and management structures, as well as skill occupations in the private and public sectors of the economy; and 

• and jointly monitor the effectiveness and gaps in the B-BBEE legislation, and any other policies related to economic transformation.

The B-BBEE Commission and the BMF believe that the MoU will serve as a solid foundation from which to advance the transformation agenda. 

Tshediso Matona, Commissioner of the B-BBEE Commission said the B-BBEE Commission considered the relationship with BMF a necessary step in strengthening ties with transformation advocates and practitioners in business, who are committed to realising the Constitutional provision of redress.

“As the commission, we hold a firm view that the implementation of B-BBEE is a collective responsibility of all stakeholders in the economy and our collaboration with the BMF seeks to promote this view.

“We look forward to a productive partnership with BMF and we are excited about what it will achieve,” Matona said. – SAnews.gov.za

Edwin

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Nzimande places science and innovation at core of long-term sustainability

Source: Government of South Africa

Nzimande places science and innovation at core of long-term sustainability

The Minister of Science, Technology, and Innovation, Professor Blade Nzimande, says South Africa must prioritise science, technology and innovation (STI) to achieve long-term sustainability.

“We deliver this Budget Vote against the background of a complex set of national and global challenges, some of which include economic stagnation, rising social inequality, a breakdown of social cohesion, the negative impact of climate change, technological disruption and new tensions arising from changes in the international economic and political system,” said the Minister while tabling the department’s Budget Vote on Wednesday in Parliament.

He committed to taking STI to the villages, townships, and all the corners of South Africa. 

“We hold the view that our country must place science, technology, and innovation at the centre of government, education, industry, and society if we are to secure our sovereignty and future sustainability.” 

Nzimande highlighted his department’s dedication to speeding up the transformation and growth of human resources and the research workforce in STI.

The Minister stated that this commitment includes advancing the Presidential PhD Programme, which was launched in 2023.

“We will scale up the implementation of the Innovation Fund programme. During this financial year, our target is to support between 10 and 15 venture capital funds through strategic partnerships with, among others, our entity, the Technology Innovation Agency (TIA).”

He stressed that the development of critical scientific skills remains central to the department’s mandate.

According to the department, 288 Research Chairs to 22 universities and national research facilities in various research disciplines have been awarded.

“I am, however, deeply concerned that black researchers and historically disadvantaged institutions (HDIs) have not benefited from this initiative in the manner that we had anticipated,” the Minister said.

To tackle this issue, his department is collaborating with the National Research Foundation (NRF) to establish Research Chairs aimed at addressing these and other deficits in transformation.

“Further to this, our National System of Innovation (NSI) is still characterised by several other transformation deficits, including the low participation of women at the highest levels.”

The department is also strengthening the coordination and direction of the NSI through the Inter-Ministerial Committee on STI, Presidential Plenary for STI, and policy coordination instruments.

In March this year, South Africa hosted its first NSI Transformation Summit. 

The Minister announced that under the leadership of the department’s Director-General, the resolutions of this summit are being incorporated into their strategic plan. 

In addition, he has vowed continued support for Palestinian institutions and researchers, adding that this project is making steady progress.

As part of South Africa’s G20 Presidency, the department is committed to advancing STI priorities for both the nation and the African continent.

The department is also working tirelessly to increase the Gross Expenditure on Research and Development to 1.5%. 

This includes establishing a strategic agreement among organised business, government, and labour to determine future funding.

In addition, the department is focused on maintaining and upgrading crucial science infrastructure and projects, including the Square Kilometre Array (SKA), Nuclear Medicine Research Infrastructure (NuMeRi), and the development of reliable pandemic preparedness capacity.

Another priority is to build strategic innovation partnerships, which involves aligning the key focus areas of the STI Decadal Plan with the relevant line function departments and mobilising additional funding and resources. 
He said significant programmes in areas such as artificial intelligence, energy security, space exploration, vaccine manufacturing, and indigenous knowledge systems (IKS) will be scaled up.

Nzimande stressed that efforts are underway to raise public awareness about the important contributions of the NSI to human development, supported by a vigorous public engagement and communication campaign. – SAnews.gov.za

Gabisile

12 views