Author: svadmin

Western Cape MEC of Agriculture Dr Ivan Meyer has welcomed the news that the Flemish biscuit company, Lotus, has started constructing its third factory in Wolseley in the Western Cape.

Meyer: “The agro-processing subsector is vital in creating jobs in our rural communities. I, therefore, welcome the investment by Lotus SA as it will positively impact the economy and jobs within Wolseley and the greater Witzenberg region. The agricultural value chain creates jobs in rural and peri-urban regions with higher unemployment rates than cities. For example, the agri-processing sub-sector in the Western Cape employs approximately 119 41 agri-workers. Investments such as these promise more jobs and prosperity to rural communities”.

Lotus’ best-known product is Speculoos, a spiced shortcrust biscuit marketed abroad as Biscoff. However, at its factory at Wolseley, Lotus produces healthy snacks in the shape of fruit rolls sold under Bear’s brand name.

Commenting on the R170 million investment, Managing Director of Lotus Manufacturing South Africa, Donald Matheson, said:

“The story of LotusSA is one of meteoric success. We opened our first plant in 2019, the second in 2021, and by August 2023, we will open the third plant. During this period, production has jumped from 1800 tons of product in 2019 to approximately 3100 in 2022. At the same time, jobs have increased from 293 to 527.”

MEC-President of Flanders, HE Jan Jambon, who officiated at the official “groundbreaking”, also used the opportunity to comment on his week-long visit to the Western Cape.

“Employment is a great value-add to our investment. I am charmed by what I saw in the Western Cape. The Western Cape Government wants to work with us in research and development, digitization and green energy.”

“I think we have found a new partner”, he added.

Source: Government of South Africa

1. The Extraordinary Summit of the Organ Troika of the Heads of State and Government of the Southern African Development Community (SADC) plus SADC Mission in Mozambique (SAMIM) Personnel Contributing Countries (PCCs) and the Republic of Mozambique, hereafter designated as Summit, was held virtually on 12th April, 2022.

2. Summit was officially opened and chaired by His Excellency Matamela Cyril Ramaphosa, President of the Republic of South Africa and Chairperson of the SADC Organ on Politics, Defence and Security Cooperation.

3. Summit was attended by the following SADC Heads of State and Government or their representatives:

South Africa: H.E. President Matamela Cyril Ramaphosa, President of the Republic of South Africa and Chairperson of the SADC Organ on Politics, Defence and Security Cooperation.

Namibia: H.E. President Dr. Hage G. Geingob, President of the Republic of Namibia and Incoming Chairperson of the SADC Organ on Politics, Defence and Security Cooperation.

Angola: H.E. President João Manuel Gonçalves Lourenço

Democratic Republic of Congo H.E. President Félix Antoine Tshisekedi Tshilombo

Mozambique: H.E President Filipe Jacinto Nyusi

Zimbabwe: H.E. President Dr. Emmerson Dambudzo Mnangagwa

Lesotho: H.E. the Right Honourable Prime Minister Dr Moeketsi Majoro

Malawi: Hon. Nancy Tembo, Minister of Foreign Affairs

United Republic of Tanzania: Hon. Dr. Stergomena L. Tax Minister of Defense and National Services

Zambia: Hon. Mulambo Haimbe, Minister of Justice and Acting Minister of Defense

4. In attendance were members of the Troika of the Ministerial Committee of the Organ (MCO), Ministers from the SAMIM Personnel Contributing Countries, the SADC Executive Secretary and Head of the SADC Mission in Mozambique (SAMIM).

5. Summit noted the progress of SAMIM as presented by the Head of the SADC Mission in Mozambique, and commended SAMIM leadership, including men and women on the ground for their sacrifices and commitment to the fight against terrorists acts in some parts of Cabo Delgado Province.

6. Summit approved the transition of SAMIM from Scenario 6, (Rapid Deployment Capability) to Scenario 5 (Multidimensional Force), with a robust mandate.

7. Summit commended SAMIM Personnel Contributing Countries for their continued support by pledging capabilities and personnel to enhance the effectiveness of SAMIM operations, and urged Member States to continue supporting the mission.

8. Summit expressed its appreciation to the African Union (AU) and the International Cooperating Partners (ICP’s) for the support towards stabilization of the security situation as well as the socio-economic recovery and development of Cabo Delgado Province.

9. Summit expressed solidarity with the Republics of Botswana, South Africa, Kingdom of Lesotho and the United Republic of Tanzania for the demise of soldiers serving the Mission, and expressed words of comfort for those wounded in action.

10. Summit commended the Republics of Zimbabwe and Malawi for the spirit of solidarity expressed through delivery of the pledged donation of foodstuff in support of Humanitarian assistance to the affected population of Cabo Delgado.

11. Summit directed the Head of Mission to coordinate with the Republic of Mozambique on the implementation of the comprehensive Integrated Reconstruction and Development Plan of Cabo Delgado.

12. Summit acknowledged the expression of gratitude by His Excellency Filipe Jacinto Nyusi, President of the Republic of Mozambique for SADC’s continued support, collaboration and cooperation towards attainment of sustainable peace and security in the Cabo Delgado Province.

13. Summit commended His Excellency Matamela Cyril Ramaphosa, President of the Republic of South Africa and the Chairperson of the Organ on Politics, Defence and Security Cooperation, for his leadership in steering the work of the Organ in pursuit of lasting peace, security and stability in the SADC region.

Issued at Pretoria, Republic of South Africa, 12th April, 2022

Source: Government of South Africa

Republic of South Africa issues two new bonds in the international capital markets

The Republic of South Africa has successfully placed US$3 billion in bonds maturing in 2032 (10-year) and 2052 (30-year) in the international capital markets on 11 April 2022, with US$1.4 billion and US$1.6 billion placed in the 2032 and 2052 tranches respectively.

The 2022 Budget Review made provision for US$3 billion equivalent to be raised in the international capital markets in 2021/22 to fund government’s foreign currency commitments. Given the volatility in the market over the period, the decision to raise the foreign currency was delayed in accessing the market in a more constructive issuance window.

The 10-year bond priced at a coupon and re-offer yield of 5.875 per cent, which represents a spread of 309 basis points above the 10-year US Treasury benchmark bond. The 30-year bond priced at a coupon and re-offer yield of 7.300 per cent which represents a spread of 447 basis points above the 30-year US Treasury benchmark bond. The final yields reflect a tightening of 37.5bps and 45bps from Initial Price Thoughts on the 10-year and 30-year instruments respectively.

The transaction attracted an orderbook more than US$7.1 billion (2.4 times oversubscribed) with investor demand across the United Kingdom, North America, Europe, Asia, Africa and others. With respect to investor profile, demand came from a combination of Fund Managers, Insurance and Pension Funds, Hedge Funds, Banks and other Financial Institutions.

This announcement does not constitute an offer or invitation to sell, or any solicitation of any offer to subscribe for or purchase, any securities to any person in any jurisdiction and nothing contained herein shall form the basis of any contract or commitment whatsoever.

This announcement does not contain or constitute an invitation, inducement or solicitation to invest. This announcement is directed only at and is for distribution only to persons who (i) are outside the United Kingdom, (ii) are “investment professionals” falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended) (the “Order”), (iii) are persons falling within Article 49(2)(a) to (d) (“high net worth companies, unincorporated associations etc.”) of the Order or (iv) are other persons to whom an invitation or inducement to engage in investment activity (within the meaning of the Financial Services and Markets Act 2000) in connection with the issue or sale of any shares may otherwise lawfully be communicated or caused to be communicated (all such persons in (i), (ii), (iii) and (iv) together being referred to as “Relevant Persons”). This announcement is directed only at Relevant Persons and must not be acted on or relied on by persons who are not Relevant Persons. Any investment or investment activity to which this announcement relates is available only to Relevant Persons and will be engaged in only with Relevant Persons.

The South African government views the success of the transaction as an expression of continued investor confidence in the country’s sound macro-economic policy framework and prudent fiscal management.

Source: Government of South Africa