Travel

Why is South Africa being targeted with investments of major world companies?

Published

6 years ago

May 17, 2019

BY MARIO PETKOVSKI

South Africa has become a haven for company giants as they try to expand their market. People in charge of the major companies from all around the world are spotting this trend. South African market is importing and selling billions a year, but the government believes that it has a bigger potential.

As the African continent grows and develops day by day, major companies also see the potential of the market, and they want to conquer it. South Africa is providing much more for the businesses: it is not the only country that provides a chance to expand the market, it is also gateway to the whole continent. The government saw the possibility and need for investments, and developed very stable economic and legal infrastructure that will lower the risk for the investitures.

Furthermore, the country is one of the major forces of the continent on cryptocurrency transactions, being one of the only ones who accepts payments in Bitcoins. They even opened their first Bitcoin ATM, even though people can withdraw only the equivalent to 50 rand. Nonetheless, according to Bitcoin News, the country is thinking of inserting regulations on this sector.

Here is a couple further reasons why big company giants started to see South Africa as a new business opportunity:

Stable legal and regulatory environment for business

South Africa has very stable legal, political standards which makes the environment pleasant for new businesses. The financial system of SA ranks at 18th place out of 140 countries.

Independence of the Banks and Stable currency

Protecting the value of the ZAR and making it more stable is very important when you are trying to attract foreign investments.

Maintaining stable enough financial sector

This country has spent a lot of effort into making the banking sector sophisticated. With stable monetary policies, SA represents the financial center of the continent.

Keeping up with the technology development

When you want to attract company giants in your country, you must give them the tools that they need for the job. The country focuses on following the trends of the world for technology development and their IT infrastructure will make their decisions much easier.

International Reputation

South Africa maybe still on the run looking for investors, but it is considered to be an exceptional internationally established country and it is a member of the G20, World Economic Forum.

Diversified and industrialized economy

The country has many well-developed sectors that bring benefits to new businesses, like mining, tourism, and agriculture.

These are some of the reasons why companies are spotting the country as the way to expand their markets. South Africa’s main concern is attracting foreign investments, as president Cyril Ramaphosa mentioned.

They have already attracted some of the major companies like:

McDonald’s who have agreed to invest in South Africa and spend $200 million over the next five years
Anglo American which is a mining company, spotted the market with well-industrialized mining sector as their new target and intends on spending $6 billion over the next 3-4 years
Procter & Gamble are conquering the African market for many years now, and they are spending millions a year in new developing centers and plantations.
The lack of telecommunications in Africa was filled with Vodacom which plans to invest $3.5 billion in telephone-network communications.
The automotive industry is on the run as some of the biggest companies of this sector decided to invest in SA. Companies like Ford, Volkswagen, Mercedes-Benz, BMW, Toyota, and Nissan will invest close to $3 billion in new capacity over the next 4-5 years.

These investments will provide this country with much more stable foreign income and it will be like an injection for the economy, just because South Africa’s GDP hasn’t reached significant growth since 2013. The GDP, unfortunately, expanded only a maximum of 2 percent in the last 6 years. The population is growing at an intensive rate achieving growth faster than the economy, which lowers the GDP per-capita.

Also, the unemployment rate is big, reaching almost 30 percent, so if South Africa would like to lower the unemployment by 10 percent, it has to focus on the steady economic growth of minimum 5 percent a year.

President Cyril Ramaphosa and the government spotted the poor economic status of the last years and started a strategy to attract foreign direct investments. The strategy worked so far, and the market attracted more than $10 billion in investments which is increased compared to last year that got only $1.5 billion. If the country continues with these strategies, also maintaining steady financial and economic sector there will be on the right tracks to achieve significant improvement in the GDP and the health of the economy in the country.

Travel

Antigua & Barbuda Welcomes More Canadians as Air Canada Adds New Flights

Published

2 years ago

October 10, 2022

TOCaribNews

St. John’s, Antigua – The dual-island destination of Antigua & Barbuda is seeing an uptick in Canadian traffic just in time for the winter travel season. Beginning today, October 8th, a new offering of flights from Air Canada is expected to help realize a recovery to pre-pandemic airlift levels in the Canadian market.

The Air Canada flight arrived this afternoon carrying 106 passengers from Toronto and the aircraft was given a welcome back water cannon salute. Passengers were also greeted by cultural dancers and music and small token welcome gifts.

“We are extremely pleased with Air Canada’s decision to both resume and increase service to our shores and look forward to extending our famous Antigua and Barbuda hospitality to our Canadian visitors,” said Colin James, Chief Executive Officer of The Antigua and Barbuda Tourism Authority. “We know many Canadians are more than ready for a vacation and we are equally ready to provide the relaxation and escape that Canadians have been craving.”

As noted, the rollout of the new service begins today with a single direct flight weekly from Toronto (YYZ) to St. John’s (ANU). Service will continue to ramp up to meet the traditional demand of the holiday season, with Air Canada forecasting the eventual operation of five weekly flights at peak traffic.

Travellers from Montreal looking to fly south for the winter can look forward to once-a-week direct flights (YUL to ANU) beginning December 23rd.

The return of Air Canada flights to Antigua & Barbuda comes in the wake of the destination’s latest travel advisory, which has lifted all COVID-19 restrictions for passengers arriving by air, yacht, and ferry. While a successful strategy of mass vaccinations and proactive public awareness campaigns has kept COVID-19 infection levels low, visitors are still encouraged to wear masks and practice social distancing in public spaces where crowds are likely to gather. You can read the latest travel advisory here.

“Over the course of the pandemic, Antigua and Barbuda has seen a monumental, joint effort involving both the government and industry stakeholders to make the destination as safe as it can be,” said Mr. James. “With that goal now realized and our Canadian friends set to return, we are extremely excited that our guests will once again be able to experience everything our home has to offer.”

Travel

Gambling Regulations In Canada And The Caribbean: What You Need To Know

Published

2 years ago

August 27, 2022

TOCaribNews

There are several trusted licensing authorities that oversee land-based and online gambling in the Caribbean, and in Canada, it’s all overseen in each province by the local provincial government. You also have the Kahnawake Gaming Commission, which is situated on an Indian land reserve in Quebec.

This trusted licensing authority is independent of Canada, and it’s part of the Kahnawake Mohawk Territory government. At one time, it was the licensing authority in the whole of North America, prior to US states regulating online casino gambling. Here is a look at gambling regulations in Canadian and the Caribbean and what you need to know as a player.

Are online casinos in Canada licensed by the Canadian government?

In Canada, gambling at online casinos is legal, and the gambling operator that’s based in that province must be licensed by the local provincial government’s licensing agency. For example, in Ontario, gambling is monitored and regulated by iGaming Ontario, which is a subsidiary of AGCO (Alcohol and Gaming Commission of Ontario).

In other words, to legally operate an online casino in Ontario, an operator must have first obtained a license from iGaming Ontario. However, there’s still nothing stopping a foreign operator that’s based outside of Canadian borders from aiming their business toward Ontario citizens because they fall outside of Canadian jurisdiction. One of the other major licensing authorities that has issued licenses to hundreds of online casinos is the previously mentioned Kahnawake Gaming Commission.

Because the regulation and licensing of online casinos and other similar real money gambling sites is still relatively new in Canada, it’s why you will see that many of today’s best Ontario casino sites are licensed outside of Canada, by one or more other reputable licensing authorities, such as the UK Gambling Commission, the Gibraltar Regulatory Authority, or the Malta Gaming Authority.

How is online gambling regulated in the Caribbean?

There are several different gambling regulators/licensing authorities in the Caribbean, but these are often referred to as ‘rubber stamp’ licensing authorities. For example, you have the Directorate of Offshore Gaming in Antigua and Barbuda, the Anjouan Offshore Finance Authority in the Anjouan and Comoros Islands, and the Curaçao Ministry of Justice in Curaçao (the former Netherlands Antilles).

While not all online casinos that have obtained a license from one of these authorities can be classed as ‘rogue casinos’, the best thing to do would be to stick to playing at the sites that are licensed either by a provincial Canadian government licensing authority or by one of the others mentioned above (e.g., by the UK Gambling Commission – one of the most trusted online gambling regulators in the world).

Why sign up to a casino that’s licensed by a provincial Canadian government or the Malta Gaming Authority?

These reputable authorities don’t just hand out a license to any old operator that has the cash to buy one. They heavily vet their licensees and carry out the necessary due diligence prior to issuing a license. They have the best legal framework in place, and they only license the most trusted operators. Should an issue arise at a casino that’s licensed in one of these jurisdictions (which is highly unlikely), you would have the proper legal backing that you, as a player, deserve. In other words, your complaint or issue will not go unanswered and will be resolved within a relatively short period of time.

Travel

11 Fun Vacation Ideas That Will Keep You Entertained

Published

2 years ago

August 11, 2022

TOCaribNews

When it comes to taking a vacation, many people think they need to go somewhere exotic to have a good time. This is not always the case! Plenty of fun vacation ideas will keep you entertained without breaking the bank. This blog post will discuss 11 different vacations you can take without spending a lot of money. So whether you are looking for an adventure or want to relax on the beach, we have you covered!

Hiking and camping

If you are looking for an outdoor adventure, hiking and camping are great options. There are many trails all over the world that you can explore. And if you camp in an RV or tent, it will be even cheaper! This is a great way to get in touch with nature and see fantastic sights.

Try your hand at gambling

Gambling doesn’t always mean going to a casino—there are many different ways to gamble, and not all require money. You can play card games or bet on sports games with friends. You may wager on sports, horse races, and other events from anywhere with just a computer or mobile device and an internet connection. You should give it a chance now that single-game betting in Ontario is legal in different provinces. Numerous online betting firms provide bonuses and incentives, and the whole idea of gambling is to have fun.

Visit a national park

Another excellent option for those who love the outdoors is to visit a national park. There are parks throughout the United States and in many other countries. This is a great way to see some of the most beautiful places on earth without spending a lot of money. Many parks offer free or discounted admission days, so check out before going.

Take a road trip

A road trip is another great vacation idea that won’t cost you an arm and a leg. You can explore different parts of your country or even take an international trip! Just be sure to plan your route and budget accordingly. And don’t forget to pack snacks and games for the car ride.

Have a staycation

If you are short on time or money, a staycation is always an option. This is where you spend your vacation at home or in a nearby city. There are many things to do on a staycation, such as visiting local attractions, going out to eat, and seeing movies. You can also use this time to relax at home and catch up on some much-needed rest.

Take an art class

One fun activity you can do on vacation is taking an art class. This is a great way to try something new and connect with your creative side. You can find classes for all different types of art, such as painting, pottery, and photography. And you may even be able to find free or discounted classes!

Visit a museum

Museums are another great option for those who want to learn on vacation. There are museums for different topics, such as history, art, and science. Many museums also offer discounts or free days, so be sure to check that out before you go.

See a live show

Seeing a live show is an excellent option if you are looking for some entertainment on vacation. Depending on your interests, you can see a play, musical, or concert. This is a great way to experience some cultures and see something new.

Visit a theme park

Theme parks are always a popular vacation destination. And there are many different ones to choose from all over the world. But you don’t have to spend a lot of money to have fun at a theme park. There are often discounts and promotions available if you plan ahead.

Take a cooking class

One last fun vacation idea is taking a cooking class. This is a great way to learn about new cuisines and get some hands-on experience in the kitchen. You can find cooking classes for all different types of food, such as Italian, Chinese, and Indian cuisine. And you may even be able to find free or discounted classes!

Visit a winery

If you’re looking for a relaxing vacation, visiting a winery is a great option. You can spend your days touring different vineyards, sampling wines, and learning about the wine-making process. And many wineries offer discounts or complimentary tastings if you visit during certain times of the year.

These are just a few of the many fun vacation ideas that you can try. So get out there and start exploring! And don’t forget to have fun!