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Sugar tax will reduce GDP by R14bn

The Beverages Association of South Africa (BevSA) warned today that the proposed discriminatory tax on sugar sweetened beverages (SSBs) has the potential to reduce the industry’s contribution to South Africa’s Gross Domestic Product (GDP) by R14bn. This is the equivalent of 0,4% points of GDP growth in 2016.  The Association announced the release of its formal response to National Treasury’s policy paper on this topic.

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Saldanha Bay IDZ gains traction

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On Friday 10th June, the Saldanha Bay IDZ Licencing Company (SBIDZ-LC) held their second annual Suppliers Awareness Day at the Protea Hotel in Saldanha Bay. The purpose of the event was to provide general feedback around enterprise development, the progress of the IDZ’s infrastructure and opportunities, as well as the policy changes from National Treasury’s Supply Chain Management landscape affecting local businesses. The day saw wide representation from stakeholders from the business development community and was attended by over 100 delegates.

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Coega to develop R2bn aqua-farming facility

The Coega Development Corporation (CDC) has announced plans to develop a R2bn aqua-farming facility on 300 hectares of land at the Coega industrial development zone outside Port Elizabeth in the Eastern Cape.This follows the completion of a feasibility study indicating that local conditions were well suited for the commercial cultivation of marine animals and plants, including abalone, finfish and seaweed, Engineering News reported.

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