Weekly Press Review – 26 September 2017

Making headlines this week is the news that prominent local business woman, Chichi Maponya, has been accused of hijacking a ship-refuelling deal that was meant to benefit students and poor fishing communities.

It has been confirmed that Maponya, along with her co-directors at Plan BEE Fuel Distributors, are the South African partners in a joint venture with bunkering company, Aegean, to refuel ships off Port Elizabeth.

The deal replaces the Coega Development Corporation as the planned South African partner, who had planned to include several community beneficiaries in the deal – a deal that was authorised by the South African Maritime Safety Authority (SAMSA). Concerns have now been raised that former SAMSA CEO, Tsietsi Mokhele helped pave the way for Maponya and her Plan BEE partners to clinch the deal.

Mokhele, who resigned from SAMSA, is currently a director of Plan BEE.

Coega communications chief, Ayanda Vilakazi said, “We are advised that it was a classic case of opportunistic hijacking of a much-fought-for business opportunity for the Eastern Cape by Gauteng-based black business.

“They were favoured with inside information to usurp the transaction ….having successfully hollowed out the developmental and social impact intent.

“The partnership would have been ground-breaking in its own right and a paradigm shift in terms of the involvement of the South African government and the people of the Eastern Cape in the maritime industry.”

Maponya has denied any wrongdoing and has described the deal as a massive opportunity for the economy.

Also making headlines this week is the announcement that Moller-Maersk has agreed to sell its tanker unit. Maersk tankers will be sold for $1.17 billion (R15.57 billion) to APMH Invest, a holding company of AP Moller Holdings, a controlling shareholder of Maersk.

Following a group of ten fishing organisations marching to the offices of the Department of Agriculture, Forestry and Fisheries (DAFF) last week, a leading fisheries activist has said that DAFF deputy director-general, Siphkazi Ndudane, wasted an opportunity to provide relief to small scale and near shore fishers.

According to the press the group demanded the immediate suspension of the West Coast Rock lobster fishing rights allocation process. According to SA United Fishing Front chairperson, Pedro Garcia, “We felt that the deputy director had ducked and dived on some issues, but more importantly had an opportunity to make a decision on the West Coast rock lobster.

“If there are to be cuts in the allocations of rights, those should come form the larger commercial fishing companies.”

In response Ndudane said that the department is aware that many fishing communities struggle with policies that have been set in place, but the department is committed to serving the 300 fishing communities on the country’s coastline.

The share price of petrochemicals company, Sasol, tanked 7.32 percent this week. According to the press this is due to the announcement by the company that it will be replacing the debt-ridden black empowerment scheme Inzalo with its empowerment structure Khanyisa in a deal valued at R21 billion.

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Weekly Press Review – 26 June 2017

The Coega Development Corporation has attracted 16 new investments to the value of R11.69 billion over the last financial year.

According to press, the corporation generated an income of R532,7 million for the 2016 –17 financial year.

Lionel Billings, Coega’s financial head said, “This is the first time in 17 years that Coega has generated a half a billion rand in income.”

During the year Coega spent R776 million on small, medium and micro enterprises. This has generated 16,500 jobs and 5,887 people have benefited from training and development opportunities.

Ayanda Vilakazi, head of marketing at Coega, says the corporation is most proud of the number of jobs they have generated since they were established in 2000, adding that the number of jobs generated now stands at 102,794.

The Indian naval ship, Tarkash, docked at Berth 2 of the V&A Waterfront this week. According to the press the vessel arrived from Walvis Bay, Namibia and is part of the Indian navy’s Western Fleet, known as the Sword Arm of the Indian navy. The vessel is usually based in Mumbai on the west coast of India.