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25
May

Brand Finance, together with Brand South Africa and Brand Africa, have launched Brand Finance South Africa 50, a study of the most valuable brands from South Africa.

Brand Finance South Africa has measured the financial value of the 50 most valuable brands from South African companies that operate both within and outside South Africa.

MTN has topped the list as the Most Valuable South African Brand with a global value of R43.3-billion and is also the only South African brand in the Brand Finance Global 500, the definitive guide to the world's Top 500 brands.

"The uniformity of the MTN brand and its ability to transcend all eleven of South Africa’s languages, as well as the multitude of international languages across the African continent, is one reason that it has succeeded so well," said Brand Finance South Africa MD Ollie Schmitz, at the launch of the study in Johannesburg this week.

MTN continues to expand both their presence and their brand across the African continent and now with a firm footing in the Middle East the Telecommunications giant is a brand that South Africa can be proud of.

"It is a truly South African brand but also a truly African brand and in that respect it is no surprise that MTN is such a loved and valued brand," Schmitz said.

Setting global standards

South African banks have also had a successful year in 2012 with Standard Bank ranked as the Most Valuable Banking Brand. Banks make up the majority of The Top 10 with ABSA, Nedbank and First National Bank also securing high places in the South African ranking.

As the European financial crisis continues, South Africa has proven itself an example of a stable financial environment proving once more that businesses should turn towards the African markets for examples of how best to thrive in difficult economic conditions.

"The results affirm South Africa's, and indeed Africa's, as being at the cutting edge of and setting global standards in building telecoms and financial services and brands," said Brand Africa founder and executive chairman Thebe Iklafeng.

"It is therefore not surprising that MTN, with over 100m customers across Africa is again the leading African brand that embodies the entrepreneurial spirit of great South African brands."

Vodacom and Standard Bank were found to be the second and third most valuable brands in South Africa (at R18.7-billion and R18-billion respectively), while MTN and First National Bank were found to be the "Strongest Brands", with both having a Brand Rating of AAA-.

Global brewer SABMiller were awarded the Brand Finance South Africa Special Award as its corporate brand as well as four product brands appeared in the Top 50 list.

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South African mobile giant MTN is the largest cellphone operator in Africa and the Middle East (Photo: MTN)

SA is becoming known for smart thinking. Find out how we're pushing thinking further out of the box.

South Africa is not only an important emerging economy in its own right - it is also a key gateway to sub-Saharan Africa.

Category : BOC Publications | World Cup Africa 2010
25
May

African and the Caribbean governments are set to invest more resources and energy towards developing and promoting stronger linkages between the two regions in the fields of trade and investment, science and technology and tourism.

These, and many other such ideas geared towards fostering a stronger culture of cooperation between the mother continent and her diaspora, are some of the ideas contained in the draft declaration document that will be taken forward to the Global African Diaspora summit, which will be held on Friday, in Johannesburg.

Over 60 representatives from various African countries and the diaspora, including the Caribbean and the Americas, will converge at the Sandton Convention Centre tomorrow - a day that coincides with Africa Day - for the eminent summit.

Ministers from countries represented at the summit on Wednesday gathered at South Africa's Department of International Relations and Cooperation headquarters in Pretoria for a meeting that essentially set the tone for tomorrow's all-important summit.

Chief amongst discussions between ministers was the draft declaration document, which is envisaged to be adopted at the close of the summit.

The resolutions set forth, amongst others, the need for Africa and her diaspora to work together towards achieving the objectives of the African Union (AU).

The AU's vision is that of "an integrated, prosperous and peaceful Africa, driven by its own citizens and representing a dynamic force in global arena".

Identifying areas of cooperation

The ministers identified areas of cooperation including education, health, culture and environmental issues as some of the crucial fields where Africa and her diaspora could build concrete relations in order to bring to fruition the AU's vision.

With global competiveness for skills, resources, land and other commodities being at an all-time high, the ministers resolved that more needed to be done through the various regional organisations to explore ways of harmonising international diplomacy and cooperation.

SA's International Relations and Cooperation Minister Maite Nkoana-Mashabane said they would take these ideas contained the draft declaration to the leaders' summit so they can be considered for implementation.

Tomorrow's summit will be held under the theme, "Towards the Realisation of a United and Prosperous Africa and its Diaspora".

Amongst others, it will consider the possible inclusion of the diaspora as a sixth region of the AU and endorse an AU Diaspora Volunteer Programme, which would associate the diaspora directly with the development efforts on the continent.

In a statement issued at the end of the ministerial meeting on Wednesday, Nkoana-Mashabane said the summit was one of the vehicles through which the African Union and the African diaspora aimed to realise the vision of a united, peaceful and prosperous Africa and her diaspora.

"We are mindful of the fact that unifying Africa's people is a process; and we are of the view that this summit marks a significant milestone in this process of unifying Africa and her diaspora."

Funding Africa's infrustructure drive

The other resolution the ministers' meeting hoped would be adopted on Friday included the African Diaspora Fund, whereby Africans abroad would be able to invest in African development projects and an increase in spending on infrastructure development of the continent.

According to the AU, the continent would require about US$60-billion over the next 10 years to meet its infrastructure needs.

The ministers also hoped that there would be a creation of a database of professional skills in the African diaspora, as well as the adoption and promotion of the Development Market Place for an African Diaspora model as a framework to facilitate innovation and develop entrepreneurship to empower the youth of the continent and her diaspora.

The Chairperson of the African Union Commission, Jean Ping, had indicated in his opening remarks that the draft declaration was a credible and important document that was adapted to the letter and spirit of the Diaspora Initiative. Equally important was that it was both a proposed law and working document.

Ping added that the process of rebuilding the African family was and would always remain a work in progress that could not be accomplished in one day. Concomitantly, he said focus must be on establishing appropriate structures that would facilitate more effective diaspora participation in the affairs of the Union.

The ministerial meeting, meanwhile, reinforced the call for Africa and its diaspora to unite in order to build a solid foundation for reviving the African family across the world - a move that will give impetus to the renaissance of the continent.

Source: BuaNews

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South Africa is the gateway to the African continent (Image: MediaClubSouthAfrica.com)

News on South Africa's foreign relations.

South Africa is not only an important emerging economy in its own right - it is also a key gateway to sub-Saharan Africa.

Category : BOC Publications | World Cup Africa 2010
18
May

18 May 2012

After two years out of South Africa's national team, striker Siyabonga Nomvethe has forced his way back into the Bafana Bafana squad, thanks to his superb form in the PSL, where he has scored 20 goals this season, eight more than the next highest scorer.

With Nomvethe to the fore, Moroka Swallows are the PSL's leading scorers, and it's between them and Orlando Pirates for title honours with one match remaining in the season.

He has been capped 79 times and netted 16 goals. Bafana's biggest problem has for a long time been its goal scoring, so it makes sense to restore Nomvethe to the national team, even at the age of 34.

Fixtures

He is part of a 27-man line-up that was named on Thursday in Johannesburg for South Africa's upcoming 2014 World Cup qualifiers against Ethiopia and Botswana, and a friendly international against Gabon.

Bafana face the Ethiopians on 3 June in Rustenburg. On 9 June, they play Botswana in Gabarone, while the friendly against Gabon takes place on 15 June in Johannesburg.

The league's second highest goal scorer, Eleazar Rodgers of Santos, is one of four new caps in the 27-man squad, which once again underlines the search for a consistent goal scorer for the national team.

Nomvethe and Rodgers are joined up front by new cap Tokelo Rantie of Orlando Pirates and the incumbent Katlego Mphela, who have netted seven and 10 goals respectively this season.

Winger called up

On the back of a strong season by Free State Stars, which will see the team finish no lower than sixth in the league, Stars' winger Mzikakiyise Mashaba has also been called up.

There was good news for the experience of the team and for its midfield strength when Kaizer Chiefs' Siphiwe Tshabalala and Reneilwe Letsholonyane were named in the squad after previously having been sidelined by injury.

The squad includes eight overseas-based players: captain Steven Pienaar, goalkeeper Darren Keet, defenders Bongani Khumalo, Tsepo Masilela, Anele Ngcongca, and midfielders May Mahlangu and Thulani Serero.

"It is important to keep the balance of youth and experience in the team because we are also preparing the team beyond 2014. We have also acknowledged and rewarded most of the players who have done well in the PSL this season," coach Pitso Mosimane told the media at the announcement of the squad.

'Very stubborn'

Looking ahead to Bafana's first match, he said: "Ethiopia is a very and stubborn team that doesn't give up and give in to pressure.

"They have a very quick team up front and a very compact in defence, but we think we have the ammunition and the players to unlock this ultra-defensive approach.

"We have played against such defences against the Ivory Coast and Sierra Leone recently, and we managed to unlock them at particular times. We hope the experience of those two matches will help to us unlock the Ethiopian defence.

"It is important to win the game at all costs. At this point in time the key is to win the game and not focus on playing very well. The country deserves a win," he concluded.

Bafana is ranked 67th in the latest Fifa world rankings, while Ethiopia is in 138th place.

BAFANA BAFANA SQUAD

Goalkeepers: Itumeleng Khune (Kaizer Chiefs), Moeneeb Josephs (Orlando Pirates), Wayne Sandilands (Mamelodi Sundowns), Darren Keet (KV Kortrijk FC)

Defenders: Punch Masenamela (Mamelodi Sundowns), Tsepo Masilela (Getafe), Eric Mathoho (Bloemfontein Celtic), Siboniso Gaxa (Kaizer Chiefs), Morgan Gould (SuperSport United), Siyabonga Sangweni (Orlando Pirates), Bongani Khumalo (Tottenham Hotspur) Anele Ngcongca (Racing Genk)

Midfielders: Andile Jali (Orlando Pirates), May Mahlangu (Helsingsborg), Thulani Serero (Ajax Cape Town), Steven Pienaar (Everton, captain), Oupa Manyisa (Orlando Pirates), Reneilwe Letsholonyane (Kaizer Chiefs), Mzikayise Mashaba (Free State Stars), Siphiwe Tshabalala (Kaizer Chiefs), Thanduyise Khuboni (Golden Arrows), Teko Modise (Mamelodi Sundowns), Lebohang Mokoena (Mamelodi Sundowns)

Strikers: Katlego Mphela (Mamelodi Sundowns), Siyabonga Nomvethe (Moroka Swallows), Tokelo Rantie (Orlando Pirates), Eleazor Rodgers (Santos)

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Bafana Bafana striker Siyabonga Nomvethe (Photo: Tru FM)

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Category : BOC Publications | World Cup Africa 2010
4
May

Mobile Money Africa 2012, the largest industry gathering of its kind on continent, takes place at Johannesburg's Southern Sun Montecasino from 14 to 17 May, promising the latest angles on a highly competitive and fast-developing market in which South African companies are closely involved.

Sonum Puri, programme director for Mobile Money Africa, believes South Africa is not only a competitive mobile money market, but a good representation of the different business models that are transpiring from banks, mobile network operators, third-party operators, social media and online retailers and payment providers.

'A great chance'

"The event will be a great chance to show the mobile money ecosystem can grow to encompass many new stakeholders in the marketplace, which means that people can take lots of examples from the South African market and apply them to their own businesses," Puri said in a statement this week.

"Much has been documented about the potential of mobile money in East Africa, but for the first time, the Mobile Money Africa conference will be exploring the rise of mobile financial services in West African countries such as Senegal and the Ivory Coast," Puri added.

"The event will also be looking at the integration of mobile money with online channels to penetrate the e-commerce market and tap into a new customer base."

Nigerian market

Nigeria, in particular, is predicted to be another big market for mobile money, as research shows that only 25 percent of the Nigerian population hase bank accounts or access to financial services.

"Last May, the Central Bank of Nigeria issued licenses to 16 mobile money operators, and in the last couple of months we have seen a number of providers such as Monitise, Pagatech, eTranzact, and United Bank of Africa announce the launch of new mobile money services," Puri said.

"The Nigerian mobile money market is already valued at US$25-billion, and mobile money users are expected to reach 709-million by 2015."

Tanzania is one of the fastest growing mobile money markets in the world. Puri says the country currently boasts mobile phone penetration of 49%, with four active mobile money businesses, the largest of which is Vodacom’s M-PESA, which has over two-million active users.

MTN offering

"Visa recently unveiled a mobile prepaid product, which will be offered by MTN in Nigeria, Rwanda and Uganda, and other big growth, markets especially for remittances," Puri said.

"The central bank of West Africa is playing an active role in encouraging private sector players to roll out mobile money services, and the central bank has also promoted the launch of the new Gim mobile service in West Africa."

Mobile Money Africa 2012 forms part of the Connected Africa Forum, which will showcase the evolution of mobile lifeline services and applications in Africa, and highlight the evolving intersection between mobile money, mobile health and mobile agriculture.

Speakers

The speakers include: Yolande van Wyk, CEO, eWallet Solutions, First National Bank; Neil Ahlsten, New Business Development Director, Google; Francis Matseketsa, Mobile Money Executive, Econet; Lowell Campbell, Head of Agent Banking, Standard Bank; Stanley Jacobs, Group Head of E-Business, Fortis Mobile Money; Stanley Henning, COO/DMD, Uganda Telecom; Kelvin Twissa, M-Commerce Director, Airtel Tanzania; and Yinka Adedeji, CEO, Afripay/United Bank Africa.

A pre-conference workshop takes place on 14 May. The conference itself will be held on 15 and 16 May, to be followed by a post-conference site visit on 17 May.

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The Southern Sun Montecasino in Johannesburg (Photo: My Sandton)

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Category : BOC Publications | World Cup Africa 2010
30
April

South African Airways (SAA) has launched a new service between Johannesburg and Maun, Botswana - gateway to the world-famous Okavango Delta - as the continent's most awarded airline continues to grow its African network.

The service, operational from 15 June, will complement SAA's multiple daily flights between Johannesburg and Botswana's capital, Gaborone.

To be operated by SAA's regional partner, SA Airlink, the service will allow travellers on SAA's morning, non-stop flight from New York to Johannesburg to make a same-day connection to Maun with an arrival in the early afternoon.

"SAA is committed to offering the most extensive route network to Africa's best leisure and business destinations, and Maun serves as a key addition to that strategy, being the best airport from which to access the beauty of the Okavango Delta," Todd Neuman, SAA's executive vice-president for North America, said in a recent statement.

"SAA's new service to Maun will open up a new and convenient way to access one of Botswana's most popular safari destinations through our partners at Airlink," Neuman said.

"Our morning non-stop service from New York to Johannesburg will provide travellers with the fastest way to arrive in Maun, so that they may spend more time exploring some of the best game viewing on the African continent."

SAA's network features connections to nearly 20 destinations within South Africa, and more than 25 cities across the rest of the continent.

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South African Airways' new Airbus A330-200 arrives at Cape Town International Airport, 8 February 2011 (Photo: The Presidency)

Category : BOC Publications | World Cup Africa 2010
26
April

South Africa's "born frees" - a nickname for those born in the year of the country's first free elections - turn 18 this year, coming of age at the same time as a democratic SA. While they acknowledge the importance of remembering the struggle, the future is where their focus lies.

It was on a tour of some popular heritage sites in Soweto, in Johannesburg's south-west, in the winter of 2011 that 17-year-old Sekgabo Motshwane first came face to face with the reality that is South Africa's apartheid history.

Motshwane turns 18 in December this year, which makes him as old as South Africa's democracy. He is one of over 600 000 people born in 1994 into a democratic South Africa, according to Statistics South Africa.

This, he says, seems to be of more importance to his parents than it is to him.

"Don't get me wrong," he qualifies. "I have a great deal of respect for the freedom struggle and its heroes ... I've heard everything from how people stood in long queues all day to cast their first-ever votes and how communities in townships all over the country celebrated well into the night."

For him, however, it is immaterial that he was born in 1994, the year that everybody got to vote. Like many teenagers on the threshold of adulthood, he is looking forward rather than back to the past.

"Frankly, my main concern is the future ahead of me."

And like Motshwane, South Africa is also standing on the threshold of adulthood. But unlike him, its future is closely tied to its past - the long, hard fight for freedom and the struggle against apartheid.

Inspired to learn more

Motshwane is a Grade 12 pupil at Boksburg High School on the East Rand in Gauteng. He plans to study mechanical engineering at Johannesburg's Wits University after high school and says many of his friends are also looking into careers in the technology and medical fields.

"One thing that I'm grateful for in a free South Africa is that I can be and do whatever I want - my future is in my hands," he explains. "My parents' generation knew about career choices available to them, but had limited resources to enable them to go after their dreams."

The revealing trip to Soweto was organised by a relative, an aunt, who wanted to help "open his eyes" to the reality of life in South Africa before 1994.

He readily admits that although he understood the tour was meant to be an educational one, before setting off, the highlight for him was the prospect of his first bungee jump at the famous Orlando Towers. This was slipped into the trip as an added incentive.

But Motshwane says that what he came across at the Hector Pieterson Memorial and Walter Sisulu Square of Dedication - illustrations such as photographs, documents and videos depicting highlights of the freedom struggle - proved to be more than he had expected.

Being in the moment, as it were, with struggle heroes gave him the opportunity to learn to appreciate the freedom he enjoys today.

He was inspired to read up on the history of the country, and to lend his ear to debates regarding the state of the country.

"I would say I had mixed feelings regarding the information I received during the tour. I was a bit angry, but more so motivated to do more and be more," he says.

Apart from the history he learns in the school curriculum, Motshwane had only heard anecdotal descriptions of what life was like during apartheid from his parents and other members of his family, so his blasé attitude towards all things political was to some extent excusable - and probably typical of his generation.

Ideals of a born free

Motshwane, by his own assertion, cannot imagine himself living anywhere else in the world other than South Africa. "What good is our freedom if I'm not going to enjoy it living here?" he asks.

He wants to travel, a lot, but relocation is out of the question. "I went to Zambia recently and while there I realised how far advanced South Africa is in terms of infrastructure. I don't think I could cope under the circumstances I saw."

His passion is design: "When I'm older I'd like to be able to look at things and say 'I made that, and it made someone happy', and I feel like I have better opportunities here at home."

The road to that ideal, however, has its obstacles: Motshwane knows his future is in his hands. "Everything I want I have to be prepared to work hard for, which is understandable."

But he does question what is being done for the young people who have nothing. "If you're poor in this country then your future depends on politicians," he says, questioning how seriously the government takes its people.

What about politics?

How in tune is this young man politically, it may be asked.

"That's what I'm worried about. [Politicians] getting richer and richer at the expense of ordinary people."

Motshwane's assertions are not far off the mark for people in his age group, according to the Human Sciences Research Council's SA Social Cohesion Barometer, which was released in November 2011. The report says the age group between 16 and 19 is significantly less civically cohesive than older age groups, meaning they are unlikely to take part in what others perceive as civil duties - like voting, for instance.

However, the group is far more tolerant towards immigrants and gay people and has much more interracial contact.

This rings true for Motshwane, who says that despite being eligible to vote in the next national elections – in 2014 – he hasn't found anything inspiring from political parties. "My vote will most probably be motivated by what I want for my future."

He admits to having loyalty issues regarding the country's ruling party, the ANC - given its part in the struggle - but beyond that, he has no feelings at all.

"When I went to Soweto I got to appreciate how much struggle heroes sacrificed for me to be able to have a good future ... I saw things there that I didn't think I would see in my lifetime."

First published by MediaClubSouthAfrica.com - get free high-resolution photos and professional feature articles from Brand South Africa's media service.

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18-year-old Sekgabo Motshwane is one of the first generation of South Africans born into the country's young democracy (Photo: Valencia TalaneMediaClubSouthAfrica.com)

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Category : BOC Publications | World Cup Africa 2010
26
April

Former semi-professional footballer Marc McCarroll of Great Britain defeated Gordon Reid to win the men's singles final at the Acsa South African Open Wheelchair Tennis Tournament at Ellis Park in Johannesburg on Wednesday.

A day after he had ousted South Africa's Evans Maripa to reach his first International Tennis Federation (ITF) final, McCarroll faced his doubles partner for the title in an all-British clash.

Scotsman Reid claimed the first set 6-4, but Reid hit back hard to claim the second set 6-2. A break in the sixth game of the final set gave McCarroll his first ITF title, 4-6, 6-2, 6-3.

'Nervous'

"I was nervous going into the match," McCarroll told the ITF, "and made a bunch of unforced errors in the first set, but calmed myself and managed to improve my serve and returns, which helped me close out the match and win my first ITF 1 title.

"South Africa is proving to be a great place for me," he continued. "I've had some real good wins and in the final today, despite losing the first set, I felt that I played well.

"Gordon is a respected opponent, doubles partner and friend and he fought to the bitter end. I won after losing two match points, proving how tough the final was. I am really happy with this win."

Doubles title

The two men, seeded number one, teamed up later to easily secure the doubles honours, defeating Japanese second seeds Yoshinobu Fujimoto and Takashi Sanado 6-1, 6-4.

Defending champion Sabine Ellerbrock of Germany, the second seed and number five in the world, faced top seed and world number four Marjolein Buis for the women's title.

In a hard-fought contest, Ellerbrock outlasted Buis 6-4, 2-6, 6-2 to successfully defend her title. Buis had earlier beaten South African number one KG Montjane 6-3, 6-3 in the semi-finals.

'I just love playing in South Africa'

"I just love playing in South Africa. It's becoming like a second home. I had a lot of pressure with me as defending champion to win again so I could defend my points and maintain my world ranking," Ellerbrock told the ITF.

Like the men's doubles finalists, the two singles finalists teamed up once more to easily lift the doubles title as they crushed Katharina Kruger and Sharon Walraven, the top seeds, 6-2, 6-0.

Israel's Boaz Kramer faced Britain's Andrew Lapthorne in the final of the quads singles. Kramer had earlier ended the challenge of South Africa's world number nine Lucas Sithole in the semi-finals, beating him 6-3, 2-6, 6-0.

Quads singles

Unfortunately for Kramer, the top seed proved too tough, with Lapthorne taking the title with a 6-3, 7-6 victory.

While he missed out on the singles title, Kramer was successful in the doubles, teaming up with his countryman Shraga Weinberg to defeated Azman Hasan and Marc McLean 6-2, 6-4 in the final.

There was success for South Africa in the women's junior category. In all-South African clash, second seed Thabang Lekhanyane upset top seed Mabel Mankgele 6-2, 6-4 to capture the title.

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Great Britain's Marc McCarroll won the men's singles and doubles titles at the 2012 Acsa South African Wheelchair Tennis Tournament (Photo: Reg Caldecott)

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Category : BOC Publications | World Cup Africa 2010
18
April

Cadine Pillay

Princess Anne arrived in South Africa on Monday for a three-day visit as part of the celebrations of Queen Elizabeth's 60th year on the throne - and wasted no time in visiting a number of local charities she supports.

These included the Liverpool School of Tropical Medicine, the St John Eye Hospital and the Save the Children Cotlands Turffontein Resource Centre in Johannesburg.

The Princess also visited the Soweto Equestrian Foundation, where children from the Adelaide Tambo School for the Physically Challenged showed off their riding skills for her.

South African showjumper and founder of the centre, Enos Mafokate, saw Princess Anne for the first time when he was competing at the London Royal International Horse Show in 1982, but was not allowed to talk to her.

"I never thought she would come to see my centre," Mafokate told Times LIVE. "When I asked her why she came, she said 'I came because you started something which no one ever thought could happen in a black township'."

Mafokate said the Princess had opened a door, "because now people cannot say they can't go to Soweto - because Princess Anne came to Soweto".

At a British High Commission garden party for the Princess in Pretoria later on Monday, the Soweto Gospel Choir performed their rendition of South Africa's national anthem, followed by their version of "God Save the Queen".

The Princess toasted South African President Jacob Zuma in his absence, and read excerpts from a letter from her mother marking her 60th year on the throne.

On Tuesday, the Princess attended a church service in St Albans Anglican Cathedral to commemorate the Queen, before meeting Deputy President Kgalema Motlanthe in Pretoria.

On Wednesday, as part of her duties as member of the International Olympic Committee and President of the British Olympic Association, Princess Anne will mark the 100-days countdown to the 2012 London Olympic Games at a Cape Town school which forms part of the International Inspirations legacy project.

The Princess will end her trip by leading a ceremony of remembrance and wreath-laying at the graves of Commonwealth soldiers and the grave of the nanny of her father, the Duke of Edinburgh.

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Princess Anne, once an Olympic showjumper herself, chats with Enos Mafokate, founder of the Soweto Equestrian Foundation in Soweto, 17 April 2012 (Photo: The British Monarchy)

News on South Africa's foreign relations.

South Africa is not only an important emerging economy in its own right - it is also a key gateway to sub-Saharan Africa.

Category : BOC Publications | World Cup Africa 2010
17
April

South Africa's economic growth is "reasonably stable" but still vulnerable to problems in the eurozone, and the country looks forward "to a far more clear set of actions" from European countries to give certainty to global markets, says Finance Minister Pravin Gordhan.

Gordhan was speaking at a Foreign Correspondents Association breakfast in Johannesburg on Monday, ahead of a G20 meeting on Thursday and Friday where leaders are expected to find out if they are any closer to an answer to the European crisis.

The meeting is also expected to look into whether the International Monetary Fund (IMF) has adequate resources and if it requires additional funds.

'Multi-polarity is where we are heading'

Globally, the world is moving towards multi-polarity, where traditional methods of growth are no longer operational, Gordhan said.

"We are living in epoch-changing shifts in the economy; they don't happen overnight nor can they be judged over a short period. These are shifts that are reflected in the way in which global growth is being distributed.

"Multi-polarity is where we are heading," Gordhan said. "It shouldn't be seen as this enforced historical change that we have to live with, but rather as a vital necessity to ensure that global growth is restored ."

Ratings agencies' comments 'unwarranted'

Gordhan described the decision by some ratings agencies to place South Africa on a negative watch as "an unfortunate casting of European shadows on the South African scene.

"There is nothing to suggest in the numbers or policy pronouncement that this government has made to justify the kind of doubts that rating agencies are placing on South Africa."

There were, however, social demands to better deliver resources. Gordhan said this was not driven by demands for more money to be spent, but rather for money to be better spent and less subject to corruption, a matter which government was attending to.

"We want to build up a 10-year fiscal framework, which will tell us what we can afford and how we need to grow the economy to overcome challenges," the minister said.

South Africa was working to improve growth with its recently announced infrastructure programme, as well as with the competitive programme for the industrial sector, support for emerging farmers, investment in science and technology, and employment expansion - particularly for young people, for whom processes were "taking too long".

"There are immense opportunities on the continent," Gordhan said.

Reducing unemployment

On the issue of reducing unemployment, Gordhan said this ambition depended on the extent of economic growth, labour absorption, as well as greater investment in industries with a larger capability to employ people.

"I admit [we are] not easily going to meet some of the targets we set, but I'm hopeful that some of the programmes we put in place might begin to change the picture. If we can get the global economy to settle down and get back to a growth path, we might see a different picture in about five years."

South Africa aims to create five-million jobs by 2020. Gordhan said more needed to be done, adding that 70 percent of the job creation target had to come from the private sector.

The minister stressed that incentives for business to create jobs were available, and that far more "urgent discussion" was needed in this regard.

Source: BuaNews

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Workers at a plant owned by petrochemicals giant Sasol (Photo: Sasol / MediaClubSouthAfrica.com)

Category : BOC Publications | World Cup Africa 2010
13
April

Sports Minister Fikile Mbalula has announced his participation in this year's Momentum 94.7 Cycle Challenge, taking place in and around Johannesburg on 18 November, and is encouraging South Africans to join him in his drive for healthy lifestyles.

Mbalula received his cycling gear and race number 26 318 from Primedia Broadcasting group's head of news and talk programming, Yusuf Abramjee, and Momentum's Danie van den Bergh, at Primedia Place in Sandton on Friday.

Speaking after receiving his gear, the minister urged all South Africans to consider participating in cycling as part of a healthy lifestyle.

'Participate in cycling'

"Cycling is great, so we are encouraging everyone ... to participate in cycling. Through cycling, people can fight diseases such as hypertension and diabetes," he said.

Mbalula has set himself a personal goal of finishing the race in three hours.

"I will not be competing to win the race," he added, "but to raise money for my own foundation, so that we can use the money we raise to fund the educational needs of poor girls."

Cycles daily

Mbalula said he cycles about 20 kilometres every morning. "It is a pity that, for security purposes, I cannot reveal my route. The only time I don't cycle is when I am outside the country."

Earlier this year, the sports minister took part in the Cape Argus Pick n Pay Cycle Tour in Cape Town.

Entries

Van den Bergh said entries for the Cycle Challenge would open in May. The entry price is R299, while the timing chip, which is compulsory for an official result for the race, costs R110.

All route information is still being finalised and will be made available online in May. Race numbers will be available for collection from the Sandton Convention Centre three days before the event.

Source: BuaNews

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Sport Minister Fikile Mbalula and Western Cape Premier Helen Zille taking part in the 2012 Cape Argus Pick n Pay Cycle Tour (Photo: Cycling South Africa)

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