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October 2016
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Thursday, 27 October 2016

A delegation from the group of MPs of the Republic of Germany Federal Assembly for SADC returned on Sunday afternoon, to their country after paying a three-day working visit to Angola, under the strengthening cooperation between the two parliaments. The delegation composed of seven parliamentarians was bid farewell at Luanda's "4 de Fevereiro" International Airport by a group of Angolan MPs and the German ambassador to Angola, Rainer Muller.

Western Cape businesses have discussed the implications for the province's economy of the anticipated United Kingdom exit from the European Union. Alan Winde, MEC of Economic Opportunities, yesterday chaired a seminar of 30 local businesses from various sectors. The seminar was hosted by Wesgro and was attended by the British Consul, Ed Roman. MEC Winde has been liaising with the office of the British Consul since the historic 'Brexit' referendum results were announced. MEC Winde said the UK was the second strongest export market for the Western Cape in the last financial year and the largest source market for FDI into the province.

The pound is trading at record lows as uncertainty over the financial future of the United Kingdom is spreading across the continent and around the world. Theresa May has indicated that she will trigger Article 50 by March 2017, after which the UK will have two years to officially exit the European Union. So what does it all mean and why has the pound suffered such big losses since June? What does it mean to South Africans? The UK central bank has indicated that they are ready to act and lower interest rates should Brexit cause the economy to slow down.

The Caribbean Community (CARICOM) will lose “an important voice” as a result of Britain’s decision to leave the European Union (EU), Prime Minister Freundel Stuart said today. He made the observation as he expressed “great concern” about the EU’s move to adopt a “differentiation” principle to determine support for the African, Caribbean and Pacific (ACP) countries. Stuart, who was addressing the inaugural EU-Caribbean Sustainable Energy conference at the Lloyd Erskine Sandiford Centre this morning, said while the region remained “robust” in its determination to seize the opportunities present under various trade agreements, including the Economic Partnership Agreement (EPA), it was concerned that the change in policy could reduce support to some countries.

The European Investment Bank (EIB) is to loan $100m to the Dominican Republic to help improve the country’s electricity supply and distribution, as part of a wider cooperation agreement on renewables between the EU and the Caribbean region. The European Commission will also grant €9.3m through the Caribbean Investment Facility to the Dominican project, which aims to improve the availability of power supply for over 680,000 households in the country. The project will support the reduction of several illegal power lines that are a danger to public health as well as a waste of electricity. In addition, it will also contribute to improving the business efficiency of electricity distribution companies.