Daily Archives: September 13, 2018

Namibia Launches NDC Partnership Plan for Climate Action

The Namibian Government and development stakeholders came together to join forces in delivering on the country’s commitments to advance the Paris Agreement. A newly developed Partnership Plan connects international resources for climate mitigation and adaptation to five priority areas set by the government and builds a community around climate action in Namibia.

WINDHOEK, Namibia, Sept. 13, 2018 /PRNewswire/ — Namibia today released its strategy to deliver its commitments to the Paris Agreement by fast-tracking climate action.  Building off progress already made through Namibia’s existing climate plans and policies, the Namibia NDC Partnership Plan identifies priority areas set by the government for implementation of its Nationally Determined Contribution (NDC) under the Paris Agreement. The Plan takes ongoing action into account but, more importantly, looks to the future for development partners to deliver on their responsibility in supporting the global south to fight climate change. The priority areas set by the Government, and supported by the development community, private sector and others, include:

  • development of better framework conditions for effective climate change governance;
  • strengthening financing of projects that help reduce emissions and enhancing the country’s resilience against the effects of climate change;
  • tracking progress toward greenhouse gas emission reduction targets;
  • strengthening coordination across national and international stakeholders to fast track decisions and interagency collaboration.
Deputy Minister of Namibia’s Ministry of Environment and Tourism Bernadette Jagger

“We [Namibia] are aware that the implementation of our NDC presents several challenges, particularly in terms of financial and technological resources. We know we cannot tackle these challenges alone and that we need coordinated and concerted efforts of all our partners. It is for this reason that Namibia has joined the NDC Partnership and we believe that it will be a valuable partnership to assist us in attracting transformative projects to achieve our NDC targets and contribute to the overall goals outlined in the Paris Agreement,” said the Honorable Bernadette Jagger, Deputy Minister of Namibia’s Ministry of Environment and Tourism.

In its NDC, Namibia committed to ambitious mitigation and adaptation targets. In mitigation, Namibia committed to reduce greenhouse gas emissions by 89 percent by 2030 through climate smart agriculture, reducing deforestation and renewable energy. Namibia is also highly vulnerable to climate impacts: half of Namibia’s population relies on subsistence agriculture, and water insecurity is a serious threat to the welfare of the Namibian people and its economy. To reduce this vulnerability, Namibia seeks a diversity of solutions, including improving water security, preventing desertification and increasing resilience to flooding, to name a few. To achieve these goals, Namibia has embraced the NDC Partnership’s integrated planning process to strengthen coordination, resource mobilization and transparency on NDC implementation.

Several members of the NDC Partnership have already pledged support to Namibia through the Partnership Plan, including the African Development Bank, the Food and Agriculture Organization of the United Nations, the French Development Agency (AfD), the European Commission, the Federal Republic of Germany (through GIZ and KfW), the United Nations Development Programme, the World Bank and World Resources Institute. Strong interest has also been expressed from several banks, including the Namibia Development Bank and NedBank, in investing in climate smart projects. A growing community of development partners, private sector and government institutions is quickly assembling behind an urgent call for action to address climate impacts to achieve global climate goals.

“According to the recent publication on the State of the World’s Food Insecurity launched 11 September 2018, hunger is on the rise thanks in part to extreme climate events. Therefore, now more than ever we need to accelerate and scale up actions to strengthen the resilience and adaptive capacity of food systems and people’s livelihoods through national commitments like NDCs to cope with the impacts,” said Resident Representative Farayi Zimudzi of the Food and Agriculture Organization of the United Nations.

The NDC Partnership is a global coalition of countries and institutions committed to transformational climate action, co-chaired by the Federal Republic of Germany and the Kingdom of Morocco. The Partnership has grown to 83 member countries, 19 institutional members and seven associate members since its launch in November 2016. Namibia was one of the first countries in Africa to join the NDC Partnership and formalized its request for technical assistance in March 2018. The NDC Partnership is supporting more than 30 developing countries to enhance and implement their NDCs through technical assistance; capacity building; knowledge sharing and access to finance. Members give specific support to one another to strengthen policy frameworks; mainstream climate actions into national, sectoral and sub-national plans; develop budgeting and investment plans; share knowledge and resources and build more robust monitoring and reporting systems in line with country-driven requests.

Photo – https://mma.prnewswire.com/media/743826/NDC_Partnership.jpg

MoneyGram Launches Money Transfer Service to all Mobile Wallets in Ghana

Company expands digital offerings to offer consumers more choice in Africa’s fifth largest receive market 

ACCRA, Ghana, Sept. 13, 2018 /PRNewswire/ — MoneyGram (NASDAQ:MGI) and Zeepay, a mobile financial services company, announced today a new partnership that enables customers around the world to send money directly to more than 11 million mobile wallets in Ghana. With this new service, MoneyGram becomes the only leading money transfer provider in the country to offer consumers three different options to pick up funds from over 200 countries around the world.

“This is an important milestone for MoneyGram in Ghana as we’re now offering real-time, seamless service to our customers and giving them more choices about how to receive their funds – at a physical location, directly to a bank account or a mobile wallet,” said Grant Lines, MoneyGram’s chief revenue officer. “Giving consumers the flexibility to choose between digital and cash pick-up is, and will continue to be, a competitive advantage for the company.”

Funds can be sent via MoneyGram online or at any one of MoneyGram’s thousands of locations in 200 countries and territories around the world into mobile wallets in minutes. Money can be accessed 24/7 and used instantly for purchasing goods and services online. The receiver may also pick up their remittance in cash at over 2,000 banking partners’ locations across the country or have it debited into a bank account.

“Together with MoneyGram, we are building the future digital payments ecosystem in Ghana. I look forward to seeing the launch of similar services in other African countries,” said Andrew Taki Appiah, managing director at Zeepay.

According to the World Bank, in 2017, $2.2 billion flowed into Ghana, mainly from the United States ($585 million), Nigeria ($395 million), the United Kingdom ($286 million), Italy ($145 million) and Germany ($115 million).

For more information about the service, please visit www.moneygram.com.gh

#moneygramnews

About MoneyGram International
MoneyGram is a global provider of innovative money transfer and payment services and is recognized worldwide as a financial connection to friends and family. Whether online, or through a mobile device, at a kiosk or in a local store, we connect consumers any way that is convenient for them. We also provide bill payment services, issue money orders and process official checks in select markets. More information about MoneyGram International, Inc. is available at moneygram.com.

Media Contact:
Michelle Buckalew
Tel: +1 214-979-1418
Mbuckalew@moneygram.com

MoneyGram Logo (PRNewsfoto/MoneyGram)

 

Logo – https://mma.prnewswire.com/media/600838/MoneyGram_International_Logo.jpg

SANY Heavy Industry Releases Its Performance Announcement in H1

CHANGSHA, China, Sept. 12, 2018 /PRNewswire/ — On August 26, SANY HEAVY INDUSTRY CO., LTD (hereinafter referred to as SANY Heavy Industry) released its performance announcement of the first half year of 2018. By June 30, the company achieved sales revenue of 28.1 billion yuan (4.09 billion USD), year-on-year growth of 46.2 percent; the net cash flow from operating activities reached 6.221 billion yuan (906 million USD),  year-on-year growth of 5.55 percent, the highest record in the same period of its history. The net profit achieved 3.389 billion yuan(494 million USD), an increase of 192.09 percent over the same period last year, reaching 161 percent of the net profit of year 2017.

SANY excavator

Rapid growth of the revenue from product line

Driven by infrastructure construction, the growing demand for the renewal of equipment and the increasing awareness for environment protection, the sales of the company’s excavating machinery, concreting machinery and hoisting machinery maintained rapid growth.

In the first half year, SANY Heavy Industry achieved sales revenue of 11.16 billion yuan for excavator machinery, year-on-year growth of 61.62 percent, which has been the domestic sales champion for 8 consecutive years; the sales revenue of the concrete machinery reached 8.549 billion yuan, year-on-year growth of 29.36 percent, ranking as the top brand in the world; the sales revenue of the hoisting machinery achieved 4.102 billion yuan, an increase of 78.47 percent over the same period of last year with steady promotion of its market position; the piling machinery and road machinery also achieved rapid growth, increasingly expanding their market share.

Benefiting from the significant growth of the sales revenue and the increase in profit making, the company’s gross profit rate is 31.64 percent, 1.57 percentage higher than that of 2017. The Net profit attributable to shareholders of listed companies is 3.389 billion yuan, reaching 161 percent of the full-year level in 2017.

Management quality greatly improved 

Cash flow hits record high

The company has been paying attention to management quality and risk control. Based on a perfect risk control system, the company has good control on the business risks. The company’s cash flow for operating activities is 6.221 billion yuan, a year-on-year growth of 5.55 percent, the highest level in the same period of the company’s history.

Business innovation and transformation

SANY Heavy Industry has taken great effort in business renovation and transformation since the beginning of this year. It has achieved remarkable efforts in digitization, intelligentialization and mass entrepreneurship and innovation platforms. The company is fully pushing forward the digitization and upgrading of marketing service, R&D, supply chain and financial affairs by implementations of the projects of CRM, PLM, SCM and GSP.

Additionally, SANY-SPARK incubator focuses on the incubation and operation of projects relating to AI, big data, internet, Internet of Things and new materials. It has won 14 honors, including the national innovative space for intelligent manufacturing and the national-level innovative space.

Increased investment in R&D

In the first half year, SANY Heavy Industry invested 1.426 billion yuan in R&D, year-on-year growth of 73.12 percent. It developed a number of competitive products such as SY155H excavator for mining use, SAC2200T all-ground crane and SYM5230THB370C-8 truck-mounted concrete pump. Its new businesses in fire pumper and intelligent residue vehicle maintained steady development.

According to statistics, the company has applied for 7,609 patents and been authorized 6,253 patents by June 2018, ranking No.1 in China for the applied patent quantity.

For more details:

global clients: 0086-731-85835199
Australian clients: 1800 GO SANY (1800 467 269)
Official website: www.sanyglobal.com
Email: sales31@sanygroup.cn
Facebook: SANY Group

Photo – https://mma.prnewswire.com/media/742818/SANY_excavator.jpg

Labour wraps up consultations with Private Security Sector

Department of Labour to wrap consultations with Private Security Sector on prescribed minimum wages and conditions of employment

The Department of Labour is planning to wind-off a public consultation process with the stakeholders in the Private Security sector with a view to amend the current prescribed minimum wages and conditions of employment for the Private Security Sector.

The last in a series of public hearings with the Private Security sector will be held on Monday (17 September) at the Department of Labour offices at Laboria House at Corner of Compound & Pniel Streets in Kimberley, Northern Cape.

Although the sector recently registered Bargaining Council, they have not concluded a collective agreement hence the current sectoral determination will still be enforce. The current prescribed minimum wages in the sector expired on the 31 August 2018.

The Employment Conditions Commission (ECC), a body that advices Labour Minister on minimum wages and conditions of employment of vulnerable workers – has taken a decision to conduct public hearings in all the provinces in order to give employers and employees an opportunity to make their inputs.

The department started with its public hearings on 10 September in Rustenburg, Polokwane and Pretoria. This was followed by hearings on 12 September in Durban and Cape Town. On 14 September consultation hearings were held in Nelspruit, Bloemfontein and East London.

The last Private Sector Public hearing will start at 10:00am.

Source: Government of South Africa

The dti to Lead Business Delegation to World Food Moscow

The Department of Trade and Industry (the dti) will lead a delegation of businesspeople to World Food Moscow, Russia, scheduled to take place from 17-20 September 2018. The World Food Moscow is an annual international trade fair. It is an ideal platform for South African companies to attract the attention of wholesalers, distributors, retailers and restaurateurs.

The objective of taking companies to showcase their products at World Food Moscow is to promote South Africa’s agro-processing industry in order to consolidate and establish market presence of the South African products in Russia. The participation of the SA companies in the exhibition is also expected to generate greater returns for the South African agro-processing and related industries at the show and within the Russian market.

According to the Minister of Trade and Industry, Dr Rob Davies, the World Food Moscow 2018 will also expose South African companies to available opportunities in Russia as well as creating awareness for their products. The export sales generated from South Africa’s participation last year amounted to R56 million.

South Africa’s exports to Russia increased from R4.1 billion in 2016 to more than R4.7 billion in 2017. Major South African exports include edible fruits and nuts, manganese ores, products of iron and steel, beverages, spirits and vinegar, vehicles, electrical machinery and equipment.

World Food Moscow 2017 hosted 1433 exhibitors from 65 countries specialising in food and beverage products with 78% of the exhibitors reporting that they had return of investment from exhibiting at the show. The fair attracted 28 922 visitors from 78 regions of Russia and 89 countries.

Source: Department of Trade and Industry