World
South Africa Remains Key Market for Canadian Goods, Services in Africa—Nokaneng

By Kestér Kenn Klomegâh
The 17th Toronto Global Forum was held under the theme Fostering Economic Resilience from October 11-13, 2023, in Toronto Canada.
According to reports, the forum gathered over 170 speakers and more than 3,000 attendees from all over the world.
The central themes at the Toronto Global Forum revolved around the global economy, infrastructure, finance, innovation, energy and sustainable development.
Through its ability to foster connections and collaboration, the Toronto Global Forum stands as an exceptional and distinctive platform bringing together decision-makers from all spheres of society to tackle the most pressing issues of the changing times.
From its launch in 2006 which included only a small number of sessions condensed into one day, the Toronto Global Forum has grown to a fully packed three-day event that has gained international recognition.
Brand South Africa, in collaboration with the South African High Commission in Canada, and the Development Bank of South Africa (DBSA), represented South Africa at the 17th Edition of The Toronto Global Forum.
The overall aim of South Africa’s participation was to promote South Africa’s green economy as an investment destination for North American Institutional Investors.
South Africa continues to stand at the forefront of influencing the global agenda on investing in the global green economy as a pathway to sustainable development.
The delegation actively participated in a panel discussion on October 13, which focused on giving an overview of South Africa as an investment destination for major infrastructure and decarbonised/green projects.
After the three-day business forum, our media executive, Kestér Kenn Klomegâh, had an in-depth discussion with Lefentse Nokaneng, General Manager for Research at Brand South Africa, over aspects of the current bilateral relations between South Africa and Canada. Here are the interview excerpts:
After participating in the business forum in Toronto, what are the popular sentiments about exploring business and investment with Canadians?
South Africa’s participation at the Toronto Global Forum is part of Brand South Africa’s mandate to leverage global platforms such as these to promote South Africa as a favourable trade and investment destination.
South Africa and Canada have maintained bilateral relations since the advent of democracy in South Africa with increasing trade between the two countries. One positive sentiment about exploring business and investment in Canada is that it is a stable and prosperous country with a strong economy and diverse business opportunities. Canadians, in turn, have shown deep interest in South Africa as an emerging market with abundant natural resources and a diversified economy which serves as a gateway into the African Continental Free Trade Agreement Area (AfCFTA). South Africa’s infrastructure drive and transition into a green economy offers investment opportunities for Canadian Pension Fund Managers.
By the way, how do you estimate the economic and investment potentials in Canada for the Republic of South Africa, and possibly the southern African region?
Being one of the most diverse and largest economies in Africa, South Africa stands as a key market for Canadian goods and services on the continent. In 2022, the bilateral merchandise trade between Canada and South Africa reached $2.77 billion. This trade comprised $473.3 million in exports from Canada and $2.3 billion in imports from South Africa.
In consultation with the Business Council of Canada, we project that export opportunities for Canada in Africa could reach $6.6 billion by 2030. This would represent a $4.1 billion increase in Canada’s export performance from the recorded average of $2.5 billion over the 2016-2018 period.
Canada is an investor in South Africa. Canadian investments focus on the mineral and mining sector, as well as transportation, food processing, hospitality, and information and communication technologies. South Africa’s infrastructure investment drive and Just Energy Transition represent an opportunity for Canada to increase its investment in South Africa.
What steps have, both Canada and South Africa taken previously to forge economic cooperation? Has that changed in tapping the existing opportunities for cooperation with South Africa?
The scope of bilateral relations between Canada and South Africa is extensive with cooperation extending into the areas of foreign policy, development, energy, science and technology, agriculture, mining and mineral resources/equipment, education, arts and culture, and transport.
Canada and South Africa hold strategic annual bilateral consultations that review the work of working groups that cover the topics listed above, which cover issues as diverse as foreign policy, trade and investment, innovation, science and technology, the environment and climate change.
Bilateral cooperation between Canada and South Africa is coordinated within the framework of a Declaration of Intent on Strengthened Cooperation, which was signed in 2003 and laid the foundation for the Annual Consultations (AC). The AC is co-chaired by the Director-General of International Relations and Cooperation and the Deputy Minister of Global Affairs respectively.
Concerted dialogue occurs with Canada’s High Commission in South Africa directed towards deepening the relationship between Canada and South Africa, especially around economic diplomacy. It is conceded on both sides that there is a need for a ‘reset’ of the relationship.
It is expected that Canada’s Africa Engagement Framework will inform its economic engagement strategy with Africa. The Canadians have been paying particular attention to the African Continental Free Trade Agreement Area (AfCFTA) and will seek to benefit from the AfCFTA as a means to diversify its trade away from the United States and China.
Can we also talk a bit about Canada’s tourism to South Africa despite the geographical distance? And finally what potentials are there to develop this sphere of business, especially with the changing global situation?
Globally, tourism has grappled with recovery post-COVID-19. We have witnessed an 82% increase in tourist arrivals from Canada. In 2022, tourist arrival numbers from Canada were 18,000 and in 2023 this grew to 34,000. While the recorded growth is significant, it still represents only half of the tourist visitors from the United States to South Africa. This signals that there is still much work to be done to attract more visitors from Canada. Those who have visited South Africa love its beautiful scenery, cultural experiences, favourable weather and South African’s affordability as a tourist destination.
Canadian passport holders are able to travel visa-free to South Africa for up to 90 days on business and we intend to capitalise on that to drive increased tourism into South Africa for those seeking to come to the country for business and leisure – Bleisure travel.
World
Dubai BRICS Forum Will Help Develop Small and Medium Businesses

By Kestér Kenn Klomegâh
In this insightful conversation, the Chairman of the Organizing Committee of the Dubai BRICS Investment Forum, academician Konstantin Klimenko-Bogdanov, highlights the primary importance of the forthcoming corporate business forum within the context of the geopolitical situation and offers a distinctive roadmap for economic collaboration of the BRICS countries. Here are the interview excerpts:
What does the upcoming BRICS Investment Forum in Dubai mean, especially in the context of geopolitical rivalry and competitive struggle?
In theory, competitive struggle should contribute to the development of the economy. After all, competition does not allow for the establishment of a monopoly, the dominance of only an exclusive minority of market participants. But on the condition that this is fair competition. But we are witnessing uncivilized methods of dividing spheres of influence in the market, cynical exploitation of natural resources in Africa and Asia by Western transnational corporations, and monopolization of entire industries in developing countries.
For example, the telecommunications sector, and the banking sector in Africa practically do not belong to Africans. Sometimes the name of a bank can have the word “Africa”. The real owners of banking capital are in Paris, London, and New York.
The income from the national wealth of African and Asian countries is distributed amazingly cynically. For example, coffee is purchased in Africa for a price of 1 dollar per kilogram, and sold in Europe for 4 dollars!
Unfair competition is supplemented by geopolitical rivalry in the form of escalating international tensions, declaring trade wars, and sanctions, and creating artificial military conflicts. Again, the goal of conflicts and military operations is only one – to seize resources. For example, in Iraq, and Syria, the Americans brazenly pump oil, without losing money on its purchase. And the US President does not hesitate to take away the Panama Canal or seize the island of Greenland.
Therefore, the goal of holding the Dubai BRICS Investment Forum is to find ways to facilitate civilized international economic cooperation in the conditions of trade wars, military conflicts, and sanctions. It is necessary to make an honest analysis and develop a roadmap for the joint economic development of the BRICS countries and friendly states.
Can you point to the prospects for its preservation (the forum) as an extraordinary annual platform for stimulating bilateral and multilateral transactions, and investments and, possibly, establishing a flow of corporate transactions between BRICS+ members and partner countries?
The Dubai BRICS Investment Forum is definitely not a one-off event. It is the basis for creating a global BRICS business community, which will operate on an ongoing basis. It will consist of the BRICS International Club, the BRICS House International Network, the Alliance of Small and Medium Enterprises, the Tourism Alliance, the Women’s Business Association and a number of other organizations. A digital platform, BRICS INFO, will be created.
The task of these structures is to establish a flow of trade, concentrate investment resources, and create a flow of corporate transactions.
Special attention will be paid to small and medium businesses. We intend to connect about 10,000 small and medium businesses into one ecosystem. The total turnover of this ecosystem in 2025 alone will amount to about US$700 billion.
We will also have social investment projects. The BRICS Student Card project is being created for students. With this card, students will receive various forms of social support in the form of discounts on air tickets, train tickets, purchases of goods in supermarkets, and so on. The most talented students will receive incentive scholarships.
It is planned to create a network of BRICS campuses through joint investments of BRICS businessmen. The campuses will house a university, college, and lyceum. The network will operate in 10 countries.
What priority investment projects will the forum promote?
Our priority is the Small Energy project. Half of the African continent and part of Asia have no electricity at all! This is unacceptable for the 21st century! We plan to create hundreds of small power plants on solar panels, wind turbines, and diesel generators through joint investments.
We have very interesting joint investment projects planned in the real estate sector. New housing complexes under the BRICS House brand will be built in many countries. In essence, these will be “cities of the future.” The main priority in the concept of these cities is “human ecology.” For example, these cities will not have any gasoline-powered vehicles at all. Only electric vehicles. But there will also be restrictions on cellular repeaters that emit harmful electromagnetic radiation. The goal of the project is to create areas that are as favourable as possible for human life. Many investors are already ready to invest in these projects.
By the way, why are you holding this important BRICS event in Dubai, United Arab Emirates? Are there any distinctive advantages that it offers to potential business participants, including women and young entrepreneurs?
The choice of Dubai as a permanent venue for our forum is based on expert opinion. We are confident that the most comfortable infrastructure and conditions for holding large-scale summits and creating business development centres have been created here. The UAE has a balanced tax system, thoughtful economic policy, and a tolerant atmosphere. And Dubai is a city of dreams, a bright future. Therefore, our forum will be held here annually and the residences of the BRICS House, BRICS Club, and the Alliance of Small and Medium Business will operate here permanently.
Based on the above reasoning, can we perhaps see the difference between the World Economic Forum in Davos and the BRICS Investment Forum in Dubai in the current situation of ongoing global transformations and development?
The difference in key approaches. At the Davos Forum, the agenda is set by Western transnational corporations. They initiate discussions of globalization plans. Our forum is intended for small and medium-sized businesses in Eurasia and Africa. We intend to discuss not globalization, but how to develop national economies and establish active cooperation between them.
At the Davos Forum, trends are created by politicians. Many participants go to this forum to listen to heads of state and high-ranking government officials. There will also be officials and parliamentarians at the Dubai Investment Forum. But they are not the main participants here. They will listen more than they speak. It will be entrepreneurs and taxpayers who support officials with their taxes who will speak more often. Because this is a platform for business, not a tribune for politicians.
World
Swedfund Offers $15m Loan for Food Processing in Africa

By Modupe Gbadeyanka
A working capital loan of up to $15 million has been given to Robust International by Swedfund to support food processing and smallholder farmers in Africa.
The credit facility is to ensure food security and an increased local processing capacity on the continent.
It was stated that the loan would enable Robust to source local commodities to new processing facilities and thereby spur job creation, economic growth and trade.
The company will buy sesame seeds and cashew nuts directly from cooperatives, aggregators and farmers locally to support operations at its new processing facilities in Côte d’Ivoire, Mozambique and Burkina Faso.
The $15 million funding is part of a joint initiative together with the Dutch, British and French development finance institutions and the Dutch fund manager, ILX.
Robust is a multi-national trader of agricultural commodities, specialising in sesame seeds and cashew nuts, sourcing primarily from East and West Africa.
Swedfund now joins FMO (the Dutch entrepreneurial development bank), British International Investment (BII), Proparco and ILX, the Dutch fund manager, to further support the development of enhanced local processing. The total working capital facility amounts to up to $105 million.
Africa exports many agricultural products for processing and refining. Robust now takes the step to do this locally instead, leading to job creation, development of the local supply chains, increased capacity and lower emissions.
The organisation has a strong focus on human rights and decent conditions for workers and farmers in their supply chain.
“Through the working capital facility, we offer funding where local banks are not able to,” the Head of Sustainable Enterprises and Food Systems at Swedfund, Sofia Gedeon, said.
World
UNICEF Seeks Urgent $22m for Children in DR Congo

By Adedapo Adesanya
The United Nations Children’s Fund (UNICEF) has launched an urgent appeal for $22 million to provide emergency assistance to children in eastern Democratic Republic (DR) of Congo amid spiralling violence.
Business Post reports that fighters from the M23 rebel group allegedly backed by Rwanda have taken control of most of Goma – a major city of more than a million people in the east of DR Congo.
The mineral-rich east of the Democratic Republic of Congo has been dogged by conflict for more than 30 years, since the 1994 Rwandan genocide.
Numerous armed groups have competed with the central authorities for power and control of the potential fortune in this vast nation.
With the latest spate of escalation, UNICEF in a statement noted that it is gravely concerned about the rapidly deteriorating humanitarian situation in eastern DR Congo.
“An additional 658,000 people became displaced in North Kivu and South Kivu provinces in the past three months alone, at least 282,000 of them are children,” it said in a statement.
Amidst the increasingly volatile situation, with fighting moving into Goma, the provincial capital of North Kivu, families have abandoned displacement camps on the northern and western outskirts of the city and moved to other locations in the centre of town.
Some of these people are moving for the third, fourth or even fifth time in recent weeks, UNICEF said.
According to Mr Jean Francois Basse, UNICEF DRC’s acting Representative, “The situation in Goma is extremely grave and further complicating a humanitarian situation that was already beyond dire.
“People have been exposed to traumatic events, and they are hungry, thirsty and exhausted. Families are sheltering in place to avoid being caught up in the violence. Electricity, water and internet have all been cut. It’s hard to overstate how deeply children and their families are suffering.”
“Ultimately, we need parties to the conflict to put an end to the military escalation, which is exacerbating the suffering of children and worsening the already appalling humanitarian conditions,” Mr Basse added.
For UNICEF, children are at high risk as crowded and unsanitary conditions make the spread of diseases – such as cholera, measles and mpox – all the more likely.
“Parents are unlikely to take sick children to hospitals for fear of being caught in the crossfire and because they know there are no beds,” it added.
It also warned about the danger of kidnapping and abduction, recruitment by armed groups, and sexual violence.
“UNICEF is calling for $22 million to continue delivering life-saving support which includes the provision of clean water and proper sanitation, medications and medical supplies, treatment for children who are severely malnourished, and protection services,” the UN agency added.
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