November 02, 2024
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Big petrol price hike to hit South Africa in February: economist
Africa-news

Big petrol price hike to hit South Africa in February: economist

January 21, 2022

South African consumers face little reprieve in the coming months as both fuel and food prices look to creep higher, says Investec chief economist Annabel Bishop.

There’s a four-year wait list for Toyota Land Cruisers in Japan
Africa-news

There’s a four-year wait list for Toyota Land Cruisers in Japan

January 21, 2022

Would-be buyers of Toyota Motor Corp.’s new Land Cruiser model in Japan may have to wait around four years before taking delivery, as the automaker struggles to keep up with demand for the iconic sports utility vehicle amid supply-chain disruptions.

SA gets R11bn from World Bank at a very low rate, cutting borrowing costs
Africa-news

SA gets R11bn from World Bank at a very low rate, cutting borrowing costs

January 21, 2022

SA has secured its first major loan from the World Bank in the democratic era, after a lengthy negotiation, National Treasury and the international financial institution announced on Friday. 

How to improve your existing Pension/Provident structure at minimum cost
Finance

How to improve your existing Pension/Provident structure at minimum cost

January 21, 2022

In my previous article we looked at what to consider when setting up a pension fund from scratch. In this article we will touch on what to consider when the employer already has an existing pension/provident fund.

Interbank Settlement System breaches N$1trillion mark
Finance

Interbank Settlement System breaches N$1trillion mark

January 20, 2022

The Bank of Namibia (BoN)’s Interbank Settlement System has, for the first time since its inception in 2002, recorded a settlement value of over N$1 trillion in 2021 due to high volumes.

Fuel in Namibia is not that expensive after all, here's how it compares
Economy

Fuel in Namibia is not that expensive after all, here's how it compares

January 20, 2022

Following a sharp increase in fuel prices in 2021, eight times to be precise, one could be forgiven for thinking that we have one of the highest fuel prices in Africa.

Namibia’s trade deficit narrows to N$3.3bn
Economy

Namibia’s trade deficit narrows to N$3.3bn

January 20, 2022

Namibia's trade deficit with the world stood at N$3.3 billion in November, up from the revised deficit of N$6.9 billion recorded in October 2021, latest government figures show.

Namibia Statistics Agency (NSA) Statistician General & CEO, Alex Shimuafeni, said the N$3.3 billion figure was, however, higher compared to N$2.9 billion witnessed in November 2020.

“Namibia’s exports earnings stood at N$ 8.8 billion (increase by 1.3% on a monthly basis) while the imports bill amounted to N$12.1 billion (down by 22.3% on a monthly basis). This resulted in a trade deficit of N$3.3 billion, which is a significant improvement from the revised trade deficit of N$6.9 billion recorded in October 2021,” he said. 

In November 2021, manufacturing products emerged as the largest exported goods with a value of N$4.5 billion, representing 51.7% of total exports. Export of products from the manufacturing industry decreased by N$704 million from N$5.2 billion recorded in October 2021.

The Mining and quarrying industry came in second place with exports valued at N$3.5 billion in November 2021. Export of products from this industry increased by N$547million from N$3nbillion recorded in October 2021.

The latest figures comes at a time when Namibia’s total merchandise trade amounted to N$20.9 billion in the period under review, a decline of 13.8% when compared to the levels of N$24.2 billion recorded in October 2021 and an increase of 5.5% when compared to the levels of N$19.8 billion recorded in November 2020.

China emerged as Namibia’s largest market for exports during the period under review, whereas South Africa maintained her position as the largest source market for the country.

“The composition of the export basket for the month of November 2021 was mainly composed of minerals such as Copper, Uranium, Precious stones (diamonds) as well as non-monetary gold. Fish continued to be the only non-mineral commodity within the top five products exported. On the other hand, the import basket was mainly comprised of Copper, Petroleum oils, precious stones (diamonds), Motor vehicles for transport of goods as well as Copper ores and concentrates,” Shimuafeni said.

 For the month of November 2021, re-exports declined by 15.6% month-on-month and 12.7%year-on-year.

“There-exports basket mainly consisted of Copper, which accounted for 51.8% mainly sourced from Zambia and DRC,” he said.

Analysis for the commodity of the month for November 2021 focused on import of sanitary towels (pads) and related articles, where Namibia imported sanitary towels and related articles valued at N$33.5 million in November 2021 mostly supplied by South Africa (93.4%).

Over the entire period, import value of sanitary products averaged N$32.8 million a month with the largest import value of N$39.6 million reflected in August 2021 and the lowest value of N$21.1 million recorded in January 2021.

According to the NSA, Namibia sourced 93.4% of sanitary products from South Africa.

Namibia’s cumulative total trade (import +export) for the period of January to November 2021 stood at N$200.3 billion compared to N$178.1 billion recorded during the same period of last year.

World tourism still a fraction of pre-pandemic levels, full recovery expected by 2024
Africa-news

World tourism still a fraction of pre-pandemic levels, full recovery expected by 2024

January 20, 2022

The world tourism industry barely improved last year compared to 2020, with all indicators staying way below pre-pandemic levels and industry professionals not expecting a full recovery before 2024, the World Tourism Organisation (UNWTO) said this week.

Energy drinks are fastest-growing products in Africa, says Coca-Cola's local bottler
Africa-news

Energy drinks are fastest-growing products in Africa, says Coca-Cola's local bottler

January 20, 2022

As Coca-Cola Beverages Africa (CCBA) prepares to list on the JSE this year, the company says it plans possible "consolidation" on the continent and to capitalise on strong African demand – especially for energy drinks, which is the fastest-growing drink category.

Last year, American giant The Coca-Cola Company announced that it will list its African bottling operation in Amsterdam and on the JSE this year. Bloomberg previously reported that the listing could be worth €7 billion (~R122 billion) – the same size as Shoprite.

The company hosted a "Capital Markets Day" - an online briefing for potential investors, analysts and the media – this week in preparation for its listing.

"We want to unlock what we see as a significant African growth potential for CCBA," CCBA CEO Jacques Vermeulen told the briefing. CCBA operates in 14 countries. Its six key markets are South Africa (its largest and most established market), Kenya, Ethiopia, Uganda, Mozambique and Namibia.

He sees Africa's young population and growing urbanisation on the continent as benefiting CCBA's growth trajectory, offering the  potential for increased per capita consumption, including in the categories of juice, water and energy drinks. Energy drinks is the fastest growing soft drink category in Africa.

Coca-Cola owns a stake in the world’s second-biggest energy drink brand (after Red Bull), Monster. It is also Monster’s official distributor.

CCBA is the largest bottler of non-alcoholic ready to drink beverages in Africa. It accounts for more than 40% of The Coca-Cola Company's African volumes. CCBA is also the eighth largest Coca-Cola bottler by revenue globally.

"The Coca-Cola Company has elected us as its partner to drive further consolidation on the continent and create greater cost efficiency. We will, therefore, invest in opportunities that might arise," said Vermeulen.

"Since 2019 we have been reshaping our operating model to build a better, smarter and faster world class bottler. Our end-to-end digital transformation is also well underway and will provide more consumer insights," said Vermeulen. "CCBA has a deep knowledge of doing business in Africa and we foresee significant opportunities to consolidate the continent's fragmented bottling landscape."

He says the company plans to further invest in opportunities that might arise. "For many years we have already been operating and reporting like a listed company and learnt from global best practice. We have a very strong balance sheet and can leverage that for acquisitions which fit our profile," said Vermeulen. 

CCBA CFO Norton Kingwill said that CCBA cannot continue with a strong growth trajectory without investment. "Our track record gives us confidence. We have been successful in Africa for a long time and can deliver a growth story," he concluded.

CCBA - described during the briefing as "born and bred in South Africa" – was listed on the JSE in a previous iteration, Amalgamated Beverage Industries (ABI). It was delisted in 2004, after SABMiller bought out minority shareholders. 

Then in 2016, CCBA was established after SABMiller merged ABI with the Coca-Cola Company’s Southern and East Africa bottling operations. In the following year, the US giant bought SABMiller’s 55% stake in CCBA for $3.15 billion after that company was taken over by Anheuser-Busch InBev.-fin24

'Rampant' demand for Savanna boosts Distell
Africa-news

'Rampant' demand for Savanna boosts Distell

January 20, 2022

In a trading update for the six months to end-December, Distell's revenue in South Africa grew by more than 20% thanks to "exceptional" growth in sales of its cider brands Savanna and Hunter’s and ready-to-drink products, including Bernini, Esprit and Klipdrift & Cola.

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