A swath of Canada better known for maple syrup is being tested to mass produce berries normally grown in warmer locales, making it the unexpected beneficiary of extreme weather, local demand and rising costs in traditional growing areas like California. Driscoll’s and grower-owned Naturipe Farms LLC, two of North America’s largest fruit sellers, are both testing commercial production of berries in Ontario and Quebec, executives said. The efforts aim to see if Canada’s most populous provinces can be cost-effective regions for larger-scale production of blackberries, raspberries and strawberries despite a colder climate that normally limits berries to a short summer…
Author: Tebogo Nkabinde
On the eve of public hearings about Eskom’s application for a 32% tariff increase next year, it has become clear that energy regulator Nersa will have little room to deviate from Eskom’s numbers and limit the increase substantially. Independent economist Elize Kruger earlier said such an increase will have a hugely negative impact on the economy. “Households are already under huge pressure due to the high cost of food and fuel, high taxes and rising interest rates. “An increase like this will increase the burden on households and limit disposable income, putting downward pressure on economic growth.” Eskom on Thursday…
Africell has announced that they have won the inaugural Tech Freedom Award by the Krach Institute for Tech Diplomacy at Purdue. Africell has been named by The Krach Institute for Tech Diplomacy at Purdue as inaugural corporate winner of the Tech Freedom Award. The award is presented to a company that exemplifies the Institute’s mission of advancing freedom through trusted technology. Africell wins the award in recognition of its policy to prioritise secure network equipment in its African telecommunications operations. In Angola, for example, where Africell launched services in May 2022 and has since earned more than five million customers,…
The Republic of the Congo has created three marine protected areas (MPA) — its first-ever — protecting over 4,000 square kilometres of marine resources. MPAs provide for community fishing zones and are a tool against illegal and unregulated fishing. The country encompasses an extraordinary diversity of wildlife. The creation of MPAs was supported by non-governmental organisation Wildlife Conservation Society (WCS) and the University of Exeter. The three MPAs — a marine extension to Conkouati-Douli National Park along the border with Gabon, Loango MPA and Mvassa MPA — cover 12 per cent of Congo’s Exclusive Economic Zone (EEZ). Congo EEZ contributes…
September 2022 – FNB delivered a strong set of financial results for the financial year ending 30 June 2022, as 10.96 million customers continued to place their trust in our ability to help them with their financial, business and lifestyle needs. Our performance was driven by more customers, increased transactional volumes, strong deposit growth, lower impairments, and increased disbursements to our retail and commercial customers. Some of the key financial highlights are: Active customers increased by 5% from 10.48 million to 10.96 millionProfit before tax increased by 23% from R23.2 billion to R28.4 billionDeposits increased by 13% from R666.8 billion to…
U.S. stocks sold off sharply after August’s inflation report came in higher than expected. At 12:33 ET (16:33 GMT), the Dow Jones Industrial Average was down 926 points, or 2.9%, while the S&P 500 was down 3.2% and the NASDAQ Composite was down 4%. The consumer price index for August showed inflation rose 0.1% from July despite the drop in the price of gasoline. From last year, inflation was up 8.3%, while analysts had expected an 8.1% print. The sell off hit tech stocks particularly hard, with Apple Inc (NASDAQ:AAPL) and Microsoft Corp (NASDAQ:MSFT) down more than 4% each, while shares of Meta Platforms Inc (NASDAQ:META) dropped more than 7%. Money…
United States-based aerospace manufacturer Boeing has shared a forecast as far as the African continent is concerned, saying the sales will go up. The company believes Africa will need 1 010 new aircraft, with a total value of $176 billion by 2041 and this demand is due to robust increases in African domestic, intra-regional and inter-regional air passenger traffic. Boeing predicts that the demand will grow at an annual rate of 6.1% and that is the sentiment shared by Boeing Commercial Marketing: the Middle East and Africa MD Randy Heisey. “African carriers are well-positioned to support inter-regional traffic growth and capture market share…
This month Nastassia Arendse introduces the next installment in her exciting new podcast series “Women in Finance”. The guest is celebrated finance whizz Sinenhlanhla Zulu, Investment Specialist at Ninety One. Zulu holds an MBA from the UK’s University of Cambridge, and a BSc in Mining Engineering from the University of the Witwatersrand. “We discuss Sinenhlanhla’s career journey, the need for diversity in infrastructure employment, her work with the Emerging Africa Infrastructure Fund” , says Nastassia Arendse. “Her story is one of the many examples of why I produce this podcast: to celebrate amazing women in the financial sector.” Listen to…
All taxes are wealth taxes. All taxes imply the transfer of wealth from the individual owner to a government agency. The only difference between taxes is the tax base or event upon which the tax is levied, and the difference between the total burden borne by the taxpayers and the amount of revenue actually received by the government. Whenever a new tax or tax reform is proposed, the expected level of tax revenue generated is necessarily of concern to policymakers. The full impact of any given tax structure cannot be separated from the pattern and timing of the expenditures of…
All taxes are wealth taxes. All taxes imply the transfer of wealth from the individual owner to a government agency. The only difference between taxes is the tax base or event upon which the tax is levied, and the difference between the total burden borne by the taxpayers and the amount of revenue actually received by the government. Whenever a new tax or tax reform is proposed, the expected level of tax revenue generated is necessarily of concern to policymakers. The full impact of any given tax structure cannot be separated from the pattern and timing of the expenditures of…
