Tag: investment

South Africa Hit by Financial investment Strike, Vital Mining Employer Suggests

(Bloomberg) — Traders have shed faith in South Africa’s federal government and have halted investment decision despite a wealth of opportunities, the head of the country’s most significant employer in the essential mining market claimed. 

More than 200 times of energy cuts past 12 months and blackouts each and every working day so significantly in 2023 have dented self-assurance, as has the poor efficiency of the state transportation utility and a myriad of other difficulties. Pledges to enact reforms to spur the overall economy have arrive to small, reported Neal Froneman, main govt officer at Sibanye Stillwater Ltd.

“There is much a lot more that we can make investments in and the relaxation of South African enterprises can make investments in if the weather was various, if we experienced electrical power, if we had crystal clear procedures and if it was additional environmentally pleasant,” Froneman claimed in an job interview past week. “Business investment in South Africa is on strike until finally points make improvements to.”

Corruption, crime and combined messages from federal government ministers as to how promptly the state will transition to cleaner vitality has also drawn criticism from a selection of business enterprise leaders. Financial commitment has been confined mainly to preserving current firms managing alternatively than expanding their operations. 

Mining accounted for 4% of gross domestic item in 2022, used about 476,000 men and women and created 878 billion rand ($50 billion) of exports, according to the Minerals Council South Africa, a lobby team symbolizing most mining groups running in the nation. 

Largely as a consequence of the issues Froneman laid out, economic advancement is anemic with economists surveyed by Bloomberg forecasting expansion of 1.2% this year. Unemployment at 32.9% is among the the maximum throughout far more than 80 nations tracked by Bloomberg.

“Investors are

Town of Stony Plain aims to attract outside investment through new commerce-oriented website

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The Town’s Economic Development team is reimagining Stony Plain through a brand-new commerce-oriented website.

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Using updated branding, Invest Stony Plain showcases local investment opportunities and promotes the evolution of the community’s position in the Edmonton Metropolitan Region.

As a part of Stony Plain’s 2022 – 2025 Strategic Plan, Town Council has committed to growing the municipality’s population from nearly 20,000 to 30,000 in an effort to reap the benefits growth will provide current and future residents, including increased quality of life and economic and employment opportunities.

“Growing a population by one-third requires a considerable shift in how people think and relate to Stony Plain. Invest Stony Plain is our way of initializing that shift. It sparks the creative energy required to clean the slate and look at the future through a new lens. The new website ensures critical information is readily available for prospective businesses making investment decisions,” said Michelle Levasseur, Economic Development Officer, Town of Stony Plain.

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To reach this population goal, the Town is currently working on a Highway Development Strategy to accelerate development along Highways 16A and 628. Work also continues on a Broadband Strategy to fill existing service gaps and improve Stony Plain’s business opportunities. Further, funds have been committed in 2023 to complete a new Economic Development Strategy supporting the upward growth of Stony Plain’s business ecosystem.

The new website

STEER Announces a Proposed Transaction for an $18 Million Direct Investment Involving its Digital Restaurant Supply Business (B2B Marketplace)

TORONTO–(BUSINESS WIRE)–STEER Technologies Inc. (“STEER” or the “Company”) (TSXV: STER) (OTCQX: STEEF), an integrated ESG technology platform, is pleased to announce that on January 16, 2023 it entered into a non-binding term sheet (the “Term Sheet”) contemplating the sale (the “Proposed Transaction”) of approximately 37.5% of its digital restaurant supply business (the “Restaurant Supply Business”), which is currently indirectly held through STEER’s wholly-owned subsidiary Food Hwy Canada Inc. (“Food Hwy”), to a syndicate of strategic investors (the “Investor Group”) at a post-money valuation of approximately $48 million.

The Proposed Transaction will be structured by rolling out the Restaurant Supply Business, currently a division of Food Hwy, into a separate newly-formed company (“Newco”) valued at approximately $48 million post-transaction. The Term Sheet contemplates that STEER, Food Hwy and the Investor Group will negotiate and enter into definitive agreements in respect of the Proposed Transaction, pursuant to which it is anticipated that the Investor Group will invest a total of $18 million in cash as part of the Proposed Transaction, with $6 million expected to be received by Food Hwy and $12 million expected to be injected directly into Newco to assist with scaling up operations and growth in regards to the Restaurant Supply Business. Following the completion of the Proposed Transaction, STEER is expected to indirectly retain approximately 62.5% ownership of Newco. It is intended that the $6 million in proceeds that is expected to be received by Food Hwy in connection with the Proposed Transaction will be applied by STEER and Food Hwy to further grow and develop their Subscription-Based and On-Demand service offerings.

It is anticipated that a portion of the financing will come from certain members of the Restaurant Supply

New Saskatoon-based investment company claims to be first Indigenous-owned firm in Canada

A new investment firm has been created in Saskatoon that claims to be the first Indigenous-owned investment firm in the country.

The Nekaneet First Nation and Meckelborg Financial Group have collaborated to start the Wiyotisiwin Investment Management Firm.

“This new company is a true step towards reconciliation as we look towards building intergenerational wealth and investment management for First Nations all across Canada,” said Nekaneet First Nation Chief Alvin Francis.

The idea is for First Nation communities to have better access to their investors and capital funds.

“Why do I need to go across the country to find someone to invest my money when we can do it locally,” asked Francis.

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Nekaneet First Nation was the first to come on board with the project, but the company is hoping to expand and offer their services to other nations.

“It’s something that has never been done before, but it’s been talked about,” said Rob Woods, founding partner with Wiyotisiwin.

Woods claimed that access to capital is one of the most pressing questions for First Nations people.

First Nations investment industries are often deemed as high risk, which makes it difficult for First Nations to leverage their land and assets.

“We are fully reliant on commercial paper and debt to get into business,” said Woods.

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Saskatchewan Indigenous-owned business aims towards reconciliation

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Banff, Jasper, Kootenay and Yoho national parks getting $71M in upgrades

The company said the partnership will offer more say in