The yuan-denominated loan reduces Africa’s reliance on dollar-based debt, where interest rates have averaged 5-7% higher than yuan loans, offering a cost-effective alternative.
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The goal is to position Gauteng as Africa’s leading hub for advanced manufacturing, leveraging Chinese capital and technology while driving local job creation
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This high-profile event underscores China’s strategic commitment to deepening trade and cultural exchanges with South Africa, its largest trading partner for over a decade, with bilateral trade having soared to impressive heights in recent years.
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The Gauteng government now plans to follow up with implementation teams to assist SMMEs in navigating export requirements and prepare them to enter the Chinese market.
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He also promised that suppliers, especially small businesses and township businesses, will be paid on time. Government must pay all suppliers within 30 days, small businesses within 15 days, and township suppliers within 10 days.
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The fuel price adjustments were announced by the Department of Mineral and Petroleum Resources set to take effect on Wednesday, June 4.
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This as government officially opened applications for the fund aimed at increasing the participation of South African owned spaza shops in the townships and rural areas retail trade sector.
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The vibrant coastal city of Durban recently played host to a significant cultural exchange event that underscored the growing partnership between China and South Africa.
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Minister Buthelezi used the occasion to reflect on the progress achieved through FOCAC but cautioned against complacency, urging both African and Chinese leaders to prioritize development rooted in people-centric policies.
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The aim of the fund is to aggregate Enterprise and Supplier Development (ESD) funds in support of the participation, transformation and sustainability of black-owned enterprises in the economy.
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