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Old August 24th, 2019, 12:57 PM   #26861
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SA poultry industry and government work to boost access to new export markets

Poultry sector has shed thousands of jobs and blames its demise on cheap chicken imports from Brazil, the US and Europe

The government and the embattled poultry industry are working to open up new export markets for the sector.

SA’s poultry sector has shed thousands of jobs and blames its demise on cheap chicken imports from Brazil, the US and Europe. This has brought it into conflict with SA meat importers who blame the lack of competitiveness of the local poultry industry for its woes.

The SA Poultry Association has lodged an application to the International Trade Administration Commission (Itac) — the organisation tasked with customs tariff investigations, trade remedies and import and export control — calling for an increase in the ad valorem tariff on bone-in and boneless frozen chicken portions to 82% from existing levels of 37% and 12% respectively.

The department of trade & industry said on Wednesday that one of the key interventions expected in the poultry master plan, which is under development to re-invigorate the industry, is to open new export markets for the sector.

The government recently convened a meeting of local poultry producers and importers together with public agencies to map out a growth strategy for the sector. This was after concerns were raised by the industry about a flood of imports of frozen chicken pieces into the local market.

The South African poultry industry has come under pressure in recent years as a result, in part, of increased import competition. However, it remains strategically important to South Africa as a source of employment and agricultural production. It is estimated that about 50,000 people work in the poultry industry, making up a significant portion of agricultural employment in South Africa,” the department said.

Trade & industry minister Ebrahim Patel said: “We need find a road to a more competitive, inclusive industry employing more South Africans. There are opportunities for us to sell more chicken meat in other parts of the world, increase our capacity and bring down prices for local consumers.

The development of master plans in the poultry sector is part of a series of master plans being developed across priority industries as part of President Cyril Ramaphosa’s re-imagined industrial strategy for SA.



https://www.businesslive.co.za/bd/na...xport-markets/
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Old August 24th, 2019, 01:07 PM   #26862
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This Nobel Prize-Winning Idea Is Instead Piling Debt on Millions

Banking via your phone has made borrowing small amounts easier than ever but has left many unable to pay.

With no bank account to his name, J. Barasa still found a lender to finance his passion for gambling on soccer. All it took was a few clicks on his phone and his willingness to pay annual interest of more than 150%.

The 32-year-old Nairobi taxi driver represents the new frontier in the market for mobile money, the universe where banking is done over the phone. Its proliferation is making it easier than ever to borrow, marrying convenience to need and creating a level of stress that only crushing debt can produce.

In Kenya, Africa’s financial-technology pioneer, there are now more people keeping money on their phones than in banks. Almost one-fifth of mobile-banking borrowers there defaulted last year—like Barasa, who has failed to pay three separate loans. He’s hoping friends and family will help to repay 22,000 shillings ($213).

Mobile loans are easy to get and addictive,” said Barasa, who asked that his given name not be published. “I need a fresh start but can’t see it.”

Microlending was once nothing but a good news story. Muhammad Yunus won the Nobel Peace Prize in 2006—a year before the introduction of the iPhone—for pioneering the concept in Bangladesh: loans of as little as $10 to mostly women entrepreneurs too poor to tap banks. Along the way, Kenya established a goal of providing universal access to financial services, a promise made easier amid the smartphone revolution.

Sub-Saharan Africa has proven the most fertile ground for microlending through mobile devices. In 2018, there were 395.7 million mobile-money accounts in the region, or almost half of the world total; the $26.8 billion handled represents two-thirds of the total transactions, according to GSMA, which represents 750 mobile operators around the world.

Asia is the closest competitor, with such transactions equivalent to about 7% of its economy compared with about 10% in sub-Saharan Africa, according to World Bank data. In the rest of the world, it’s less than 2%.

In Kenya, with more than 50 mobile lenders offering loans ranging from $10 to $400, officials are trying to get their arms around a business that took off after a 2016 law capping interest rates to reduce borrowing costs. Banks instead invested more in government debt and tightened their standards, sending small unsecured borrowers to mobile lenders.

Mobile-money operators “shouldn’t be lending out money in the order of magnitude that it’s out of control,” said Christophe Meunier, a senior partner at Delta Partners Group, an advisory firm for technology and media companies. “They should have an incentive to control lending through the platform.

By far, the dominant force is M-Pesa, the payments platform of Vodafone Plc’s Safaricom unit. Begun more than a decade ago, M-Pesa became a revolutionary service now used by more than 22 million for transferring money and buying everything from groceries to shopping on the Alibaba e-commerce site. An overdraft facility, called Fuliza, recorded transactions of 29 billion shillings in three months after its introduction in November.

An automated teller machine displays M-Pesa banking service information outside a bank branch in Mombasa.

M for mobile and Pesa for money in Swahili, M-Pesa provides a digital wallet on Safaricom phones. The services “have opened up access for millions of Kenyans over the last five years,” a Safaricom spokesman said, adding almost half of bank accounts are mobile based.

The option to deposit and borrow can be activated within the M-Pesa wallet, sending you to M-Shwari, a mobile-banking venture between Commercial Bank of Africa and Safaricom. KCB Group Plc, Kenya’s biggest lender, also joined Safaricom to start a second lending service in the M-Pesa wallet. Spokesmen at CBA and KCB didn’t immediately respond to an email request for comment.

M-Shwari charges 7.5% of the amount borrowed per month. That compares with annual commercial bank lending rates of about 13.2%. Defaulters have their savings frozen and are reported to the credit reference bureau.

There are also finance companies like Alphabet Inc.-backed Tala, which raises money from investors. Tala, whose biggest market is Kenya, has disbursed $750 million in loans of between $10 and $300 in the last five years, says its East Africa growth manager, Ivan Mbowa. Its customers borrow from 21 to 30 days and are charged as much as 15%—a rate that reflects non-traditional credit checks, such as information mined on social media and dining and shopping patterns.

The expansion in consumer debt has an inevitable dark side. While yotal lending by banks grew 5% to 2.5 trillion shillings in the year ending June 2018, non-performing loans climbed 27% to 298 billion shillings, according to the central bank. Two-thirds of Kenyan borrowers are in debt stress—those caught in a debt spiral or those who have to sell an asset or reduce food spending to repay loans—according to FSD Kenya, a Bill & Melinda Gates Foundation-backed financial-inclusion advocate.

“My worry in Kenya is that the borrowing middle classes may also find themselves in a cycle of escalating debt,” says Amrik Heyer, head of research at FSD. For the vulnerable, including young or poor people, “who may borrow to survive, digital credit is in danger of destroying the very market that feeds it.”

It’s not as bad as it looks, says Tala’s Mbowa. “Our charges should be looked at as total cost of borrowing, and not annualized,” he said in an interview from his office on a sixth-floor in Nairobi. Some Tala loans are repaid within days.

Authorities are most concerned about unregulated finance companies, giving them more leeway both in pricing and collection practices. Some lenders aggressively dun debtors, calling their friends and relatives to compel them to pay.

They are loan sharks on “steroids,” central bank Governor Patrick Njoroge said in May when he started being vocal on the necessity to supervise digital microlenders. “There has to be proper regulation.”



https://www.bloomberg.com/news/artic...twitter-africa
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Old August 24th, 2019, 01:12 PM   #26863
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I don’t like the narrow focus on africa Americans. America actually receive the least amount of enslaved people. It seems overly commercial because AAs have more income. This focus should also be on the Caribbean and South America. In fact the impact there may be stronger and the cultures easier to blend


Those countries dont have large black populations with disposable incomes

My hope is that once SSA have sorted themselves they can invest in Caribbean, Bahia, Choco, Haiti etc.

Thats my vision rather than the other way round
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Old August 24th, 2019, 01:14 PM   #26864
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Angola to sell stakes in JV with China International Fund





The biggest privatisation programme Angola has ever seen – and likely one of the largest in Africa – will begin this year, involving some of the country’s most important companies. Under the programme, which runs through 2022, the state will sell its stakes in dozens of companies in all sectors. Among the assets to be sold are stakes in the two joint-ventures of the state-owned oil company, Sonangol, with China International Fund.

The presidential decree, seen by CLBrief, setting the terms for the 2019–2022 Privatisation Programme (ProPriv), lists among the companies to be sold China Sonangol International Limited (CSIL) and China Sonangol International Holding (CSIH), in both cases through public tenders in 2020.
The Hong-Kong based CSIL, a partnership between Sonangol and China International Fund (CIF), was officially a marketer of Angolan crude exports to China but also has several oil concessions, both in Angola and abroad.

CIF was also involved in the biggest reconstruction projects in Angola post-2002, including railroads and the new Luanda International Airport (still ongoing).

https://macauhub.com.mo/feature/ango...national-fund/


Great news.

Sonangol is used for corruption and has too many fingers in too many pies- reducing innovation and competition.

They should use this to create a large stockmarket.
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Old August 24th, 2019, 01:18 PM   #26865
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It’s 2015 All Over Again for Nigeria as Pressure Builds on Naira

Faced with the prospect of a weakening naira, the Central Bank of Nigeria is digging out its 2015 playbook to stem the currency’s decline. After losing out then, traders are betting on history to repeat itself.

Four years ago, Governor Godwin Emefiele curbed dollar supplies for imports on 41 products from glass to toothpicks. Now, he wants dairy on the list, while President Muhammadu Buhari wants to add food. It’s a last-gasp bid to avoid marking down the naira for the third time since February 2015, when the currency was pegged for 15 months against the dollar. Forward rates suggests it won’t work, predicting the naira will weaken 11% to 405.06 by the end of June.

The governor himself knows he is going to starve if he implements the directive,” said Michael Famoroti, an economist and partner at Stears Business in Lagos. “I am unsure what exactly the central bank is going to do.”

While the central bank wants to boost local food production, there are other reasons for the urgency. Africa’s largest oil producer has a record 9.6 trillion naira ($27 billion) of government securities that have to be repaid by the end of December. The country’s current account, the widest measure of the trade in goods and services, swung to a deficit in the first quarter, while the price of crude, which generates 90% of the Nigeria’s foreign exchange, has dipped below the $60 level that the state’s budget is based on.

But curbing greenbacks at the height of the 2015 currency crisis and in the face of tumbling oil prices came at a cost. The measures drained Nigeria’s reserves from almost $50 billion in 2013 to below $24 billion in October 2016.

It also pushed the inflation rate to an almost 12-year high because it limited supplies, contributing to the economy’s first full-year contraction in a quarter century, a slump it’s still struggling to recover from. Inflation has held above the central bank’s upper target of 9% since June 2015.

Effectively banning the import of all remaining food items would have grave consequences for the availability and prices of certain food products and add to prevailing inflationary pressures,” said Malte Liewerscheidt, an analyst at Teneo Intelligence in London.

Over the past three years, authorities have relied heavily on open-market operations, in which government securities are sold at special auctions to control the amount of money in the financial system. These so-called OMO notes created a lucrative carry trade for foreign investors with yields on 175-day notes of 11.8%, compared with 11.35% on 182-day Treasury bills, making them more costly.

While reserves of $44 billion is higher than 2015, it has declined consistently since May, and outflows from repaying maturing OMO notes could deplete them further.

It doesn’t have the capital to continue issuing notes as aggressively as it has in the past,” Amaka Anku, Eurasia Group’s Africa head, said by email.

Foreigners own at least $17.5 billion, or 37%, of the outstanding securities, which will test the central bank’s resolve after being so accommodative with its balance sheet, Chapel Hill Denham Securities Ltd. said in a note.

Global factors, such as the U.S.-China trade war, slowing global growth and an increase in shale oil production could further “make or mar” the central bank’s efforts to stabilize the naira, Chapel Hill Denham researchers, led by Tajudeen Ibrahim, said. Efforts to contain food imports also risk failing because of porous West African borders, which will not only have the unintended consequence of costing the government lost revenue and spur inflation, but also push demand for foreign exchange to “alternative markets,” they said.

Buhari’s comments on the restriction of access to dollars for the importation of food are in line with the existing foreign-exchange management policy, the central bank said on its verified Twitter account on Tuesday.



https://www.bloomberg.com/news/artic...source=twitter
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Old August 24th, 2019, 01:20 PM   #26866
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SA on the way to being the first African country to implement universal healthcare
good development but not the first
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Old August 24th, 2019, 02:30 PM   #26867
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Those countries dont have large black populations with disposable incomes

My hope is that once SSA have sorted themselves they can invest in Caribbean, Bahia, Choco, Haiti etc.

Thats my vision rather than the other way round
That’s my point. If it’s investment then say it’s investment. Don’t mask it in feel good “come home” stories. Seems dishonest. There is nothing wrong with seeking investment from AA. But tying it to the horrible event of slavery debases it.
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Old August 24th, 2019, 02:34 PM   #26868
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good development but not the first


https://www.reddit.com/r/MapPorn/com...al_healthcare/
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Old August 24th, 2019, 03:08 PM   #26869
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The map misses a lot of countries whether in blue or green.
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You don't have to pull the quote by Mark Twain, 'Never argue with stupid people, they will drag you down to their level and then beat you with experience' to help you in debate and mock other people. Your opinion speaks for itself. People with common-sense will know who is the real idiot without the need for name-calling, as the idiot could be the one who use Mark Twain's quote.

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Old August 24th, 2019, 03:12 PM   #26870
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Algeria and Tunisia both have a universal healthcare
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Old August 24th, 2019, 03:56 PM   #26871
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Economic growth is making many Egyptians poorer - Amr Adly

If Egypt is the Middle East’s fastest-growing economy, why are so more and more Egyptians becoming poorer?

The question has exercised economists since the country’s statistics authority released figures on poverty rates indicating a 5% rise over the past three years. This is a period in which growth has spiked, thanks in no small part to a continuously rising foreign debt.

It is easy to interpret the poverty numbers as the social impact of the International Monetary Fund-prescribed reform program that kicked off in November, 2016, including the massive devaluation of the pound, followed by rounds of subsidy cuts and increases in consumption taxes. These measures, some commentators argue, have impoverished many Egyptians, despite the stable macroeconomic indicators—for instance, inflation is under control, interest rates have been reduced, and the exchange rate has been steady.

But the trend in the poverty data long precedes the recent IMF program. Official statistics show that poverty rates have increased steadily since the early 1990s; the rate has almost doubled since 2000. The recent hike is a continuation of an older and consistent trend that either went untouched by rounds of fiscal and monetary reforms under the auspices of the IMF and the World Bank, or was exacerbated by them.

Those who focus on the role of the IMF austerity program to explain growing poverty are missing some other contributing factors.

The first is the sectoral composition of economic growth. In Egypt, the sectors that have generated the most growth and created economic value are traditionally capital- and energy-intensive, and create relatively little employment—such as oil and gas, banking, and telecommunications. Some growing sectors like construction have generated jobs, but these were of low quality, requiring low skill and paying low wages. The same can also be said of tourism.

Sectors that might create jobs characterized by high productivity and wages—such as skill-intensive services and high value-added manufactured exports that require skill and technology inputs—have not grown, certainly not at a rate to influence the overall poverty data. These sectors require large public investments in education and vocational training, and in research and development, as well as an institutional infrastructure friendly for innovation and entrepreneurship. None of this has been prioritized by Egyptian governments.

Much of Egypt’s employment, at least since the 1980s, has been in the informal sector, either through self-employment or in microbusinesses that produce jobs that pay subsistence income. An International Labor Organization study in 2009 showed that 91% of the employed young people in Egypt worked informally, in jobs characterized by low productivity, low wages and no social protection. According to the World Bank’s vulnerable employment indicator, the average proportion of vulnerable employment in Egypt between 1997 and 2007, as a percentage of total employment, was as high as 24.09%.

https://www.iol.co.za/business-repor...-adly-31056050
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Old August 24th, 2019, 04:16 PM   #26872
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I thought China didn’t have a public universal health care system.
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Old August 24th, 2019, 07:11 PM   #26873
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World Health Day: Morocco’s king Calls for Setting up Universal Healthcare by 2030


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King Mohammed VI has stressed the importance of ensuring a fair and equitable access to health care services in order to achieve sustainable development, social inclusion and cohesion, paving the way for the establishment of universal health coverage by 2030.

In a message to participants marking World Health Day, in Rabat under the theme “Primary health care: a path towards universal health coverage”, the Moroccan Monarch deplored that more than half of the world’s population has no access to primary health care, saying that a universal health coverage does not hinge on funding only, nor should it depend on the sole efforts of the health sector.

This goal can be achieved, irrespective of a country’s level of development, stressed the King in his message read by Health minister, Anass Doukkali
...
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Old August 24th, 2019, 08:34 PM   #26874
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Alibaba, China's e-commerce giant, has launched an online trade platform to help connect Rwandan businesses like local coffee producers to the Chinese consumer.

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Old August 24th, 2019, 08:59 PM   #26875
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Old August 24th, 2019, 11:10 PM   #26876
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That's a bit deceiving. "Universal health care" in Burkina Faso is not exactly the same thing as universal health care in Western Europe...
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Old August 24th, 2019, 11:29 PM   #26877
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so? its a constantly evolving service that depends on the nation's capacity
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Old August 24th, 2019, 11:44 PM   #26878
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Nigeria accounts for 20% of India’s trade in Africa

The High Commissioner of India to Nigeria, Mr. Abhay Thakur, has said that Nigeria alone accounted for 20 percent of India’s trade in Africa for the year 2018.Thakur made this known on Thursday at the Flag Hoisting Ceremony on the auspicious occasion of the 72nd Anniversary of India’s Independence at the High Commission in Abuja.

He said that their total trade in Africa grew by nearly 18 per cent, which amounted to 14 billion dollars and that Nigeria alone accounted for 20 per cent of the India’s trade.

I must say we are proud to be Nigeria’s largest trading partner.

Our trade grew by nearly 18 percent in 2018 to 14 billion dollars and Nigeria alone accounts for 20 percent of India’s trade in Africa.

“We have had a whole range of important exchanges with West Africa.

We are looking forward to the first joint commission this year and also cooperation in the field of maritime security, as well as greater collaboration and growing trade between the two countries,” he said.

Thakur said that it was a special day to celebrate the occasion with Nigerian friends and that it acquired even greater significance because of the thriving relations between the two countries.

He said that the occasion was significant because they had a thriving Indian community in Nigeria numbering almost 50,000, who conduct their own business and also employed a large number of Nigerians.

However, Thakur, who read the President of India speech, Nath Kovind, said that many important bills were just passed in a spirit of cross-party cooperation.

He said that independence was a key milestone in nation building and that it was a continuous process that required every institution and every stakeholder to work in harmony and togetherness.

...



https://www.journalducameroun.com/en...ade-in-africa/
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Old August 25th, 2019, 01:36 PM   #26879
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South African leader to promote African interests at G7

South Africa's president will promote the interests of the African Union and his country as a major investment destination during the upcoming G7 summit starting Sunday in France, his office has said.

In a statement, the Presidency said Cyril Ramaphosa would also embark on a working visit to Japan for the Tokyo International Conference on African Development Summit that would strengthen the partnership between Japan and African countries.

''The working visits will also provide a platform for President Ramaphosa and members of Cabinet to invite global partners to experience South Africa as an investment destination and trade partner, and to participate in the country’s efforts to secure faster, sustainable and inclusive economic growth and reduce unemployment,'' said the statement.

South Africa will be attending the G7 summit on the invitation of France which has invited major economies with regional influence as well as strategic African partners and key representatives of civil society. The focus for this year's summit is the reduction of inequalities prevailing around the world.

The G7 Summit is a forum of the seven countries with the world's most industrialized and developed economies. They include, France, Germany, Italy, Japan, the U.S., the U.K. and Canada. Leaders of G7 countries meet annually to discuss important global economic, political, social and security issues.

The G7 Summit is expected to produce a range of declarations that will form the basis of action plans to address challenges and embrace opportunities identified during the deliberations in France.

On Wednesday President Ramaphosa will depart from the G7 Summit in France to Japan where he will participate in the Tokyo International Conference on African Development Summit.

South Africa and Japan enjoy good bilateral ties with more than 140 Japanese companies having investments in South Africa worth billions of dollars.

"South Africa views the partnership between Japan and the African continent as an enabler for infrastructure development and industrialisation throughout the continent," the presidency said.

https://www.aa.com.tr/en/africa/sout...-at-g7/1564176
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Old August 25th, 2019, 01:49 PM   #26880
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SA’s oranges take world by storm

One in every 10 oranges eaten around the world now comes from South Africa.

The country’s flourishing fruit industry has increasingly made up a bigger proportion of the international trade, said the Bureau for Food and Agricultural Policy in its latest agricultural outlook for the period 2018 to 2028.

Citrus, grapes and pome fruits, in particular, have strengthened their market position in the past decade.

Citrus’ market share has risen from 4% in 2001 to more than 10% last year, followed by table grapes (5% to 7%) and pome fruits (3% to 6%).

Citrus is South Africa’s biggest and most important fruit export, according to value and volume.

By the year 2028 the country could be exporting 25% more cartons than last year, said the bureau.

But to sustain this growth, new and diversified markets need to be found, the bureau said.

The EU and UK are far and away the most important export markets for locally grown fruit, but the dependence on these markets leaves South Africa vulnerable because the populations in both markets are growing at less than 1.5% a year.

The report said these are also regions where there are no food shortages.

South Africa is the world’s third-largest citrus exporter, after Spain and Turkey. Oranges make up the bulk of the exports.

About 76% of the citrus that South Africa produces is exported, with 32% going to the EU and 10% to the UK.

About 25% of stone fruit (such as peaches and prunes), is exported, with 40% of the fruit going to the EU and 31% to the UK.

In the past season South Africa passed Argentina and is now the fourth-largest exporter of lemons and limes, after Mexico, Spain and Turkey.

https://city-press.news24.com/Busine...storm-20190823
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