Shareholder activists Just Share and environmental law organization ClientEarth have written to more than 50 funds in Africa’s most-industrialized nation about their duty to savers. The local industry oversees about 4.2 trillion rand in retirement investments, according to the two groups.
Oil companies and Norway’s sovereign wealth fund are responding to climate change through steps ranging from planting forests to divesting from fossil fuels. South Africa is dependent on coal for almost all of its power generation, and with unemployment at about 27 percent this complicates the debate about reducing this reliance, should it lead to mine closures and job losses.
South Africa’s 2030 energy plan sees coal-generated power dropping to less than 50 percent of the total, as investment increases in renewables such as wind and solar.
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BUSINESS MAVERICK: Africa is being left out of the digital tax loopIt’s a tricky issue. Tech companies are able to operate internationally very effectively, zooming down fibre optic cables from their tax havens. Should they be taxed in a different way? It’s now a leading topic on the global agenda, and African tax experts are hustling to join the discussions. Governments around the world have proposed varying solutions. Africa, however, is not necessarily happy with the progress, but potential solutions are out there. Very interesting piece DURITZ79
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President Ramaphosa to officiate Nissan South Africa investment ceremonySouth Africa’s ambition is to attract R1,4 trillion in domestic and international investment over a period of five year.
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