South Africa

Companies sell their companies in Russia

Lots of Western business have actually offered their Russian properties or handed them over to local managers to adhere to sanctions over the war in Ukraine and respond to threats from the Kremlin that it may take foreignowned properties. Below are some companies that have offered their services in Russia, divided by sector: CARS Continental offered its Russian tire plant to holding company S8 Capital in May 2023. Renault sold its majority stake in Avtovaz to the Russian state in 2022, supposedly for only one rouble but with a six-year choice to buy it back. Volkswagen finished the sale of

Ground Freight

Pirates a big security issue for S.Africa's last-mile delivery companies

EU gives South Africa $35 mln in grants for green hydrogen strategies

The European Union on Monday promised to provide South Africa 2 grants worth about $35. million to accelerate its green hydrogen strategies. Green hydrogen tasks use renewable energy to split water. into hydrogen and oxygen, making fuel that can be used throughout. industries such as transportation, petrochemicals and steel. The very first EU grant, worth 140 million rand ($ 7.8 million),. is to assist having a hard time South African state business Transnet with. facilities costs, supporting trains, ports, pipelines and. other logistics. The other grant, for 25 million euros ($ 27.6 million), will. assistance Africa's most industrialised economy establish

Integrated Logistics

Zimbabwe turns to personal companies to enhance freight rail volumes

Businesses sell in Russia

Some Western companies sold their Russian assets to comply with the sanctions imposed over the conflict in Ukraine, and to respond to the Kremlin's threats that it could seize foreign assets. The following companies have sold their business in Russia. They are grouped by sector. Continental sold its Russian tire plant to holding company S8 Capital by May 2023. Renault sold Avtovaz's majority stake to the Russian government in 2022. The price was reportedly only one rouble, but there was a six-year buyback option. Volkswagen sold its Kaluga production facility and local subsidiaries to Volkswagen in May 2023. BANKS AND

South Africa

South Africa getting to grips with financial reforms, central bank governor says

South Africa is getting to grips with reforms that could raise its financial potential, its centralbank governor stated on Thursday, adding that success tackling a longstanding power crisis could stimulate progress in other sectors. The central bank has repeatedly indicated the requirement for structural reforms in areas such as energy and freight rail to boost South Africa's development capacity beyond the meagre 1%. anticipated this year and next. But, until a significant turn-around in electricity schedule. this year, President Cyril Ramaphosa's government had actually made. little headway on efforts viewed as essential to enhancing. development. South Africa is getting to

Congo wants Trafigura partner Chemaf's deal with China's Norinco halted