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AGOA Exclusion Could Jeopardize Key Cars, Fruit and Wine Exports

SOUTH AFRICA
  • Daily Maverick write more on yesterday’s late news that US Senator Coons has been circulating a draft bill to renew the preferential trade programme called the ‘African Growth and Opportunity Act’ for 16 years, but review South Africa’s inclusion entirely. South Africa is the biggest beneficiary of the scheme, allowing for enhanced access to the US market for exports of cars, fruit and wine. The decision to remove South Africa from the scheme is seen as tied to support for Russia and foreign policy interests – violating the terms of the act.
  • Speaking in front of parliament yesterday, Eskom board chairperson Nyati stated that they had adopted a ‘tough love’ approach with the management of the utility, adding that he believes the company has made progress this year and will achieve greater success going forward.
  • Other highlights of the hearings include the public enterprises minister Gordhan claimed that rooting out corruption at Eskom remains a challenge, while Eskom executives reaffirmed their target of achieving a 65% energy availability factor by March next year, from current levels of ~60%.
  • Moneyweb write that SARS are to further squeeze South African taxpayers via aggressive debt collection, increased audit scrutiny and renewed focus to curb VAT scams. The piece writes that details within the MTBPS show that SARS will be required to collect outstanding taxes faster, and allow for a broader tax base.
  • News24 write that South Africa’s security chiefs have flagged the risk of civil unrest next year. The security chiefs referred to the risks as “critical” in a year set to contain the next Presidential election.
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