News in Brief

Davies ready to act on poultry import tariffs

Trade and Industry Minister Rob Davies says he is ready to raise tariffs on cheap chicken imports, but needs the local industry to act first. “The obvious remedy is for us to raise the general tariff… but there is not a consistent message coming from the players in the local poultry sector,” he said yesterday. Davies was speaking at a dialogue in Paarl with farmers and commercial farming organisations. Kevin Lovell, the chief executive of the SA Poultry Association, said yesterday that the association welcomed the minister’s support but increasing tariffs was not a total solution because it did not include the EU, which was one of the biggest chicken sources. Responding to a call by Grain SA officials for tariff protection in the face of increasing imports of cheap chicken from Brazil, Davies said anti-dumping duties would not solve the problem. But an increase in the general tariff would. – Nompumelelo Magwaza and Sapa

Credit, debit cards ‘add $8bn to GDP’

The growth in the use of electronic payment products, such as credit and debit cards, added $8 billion (R71.8bn) to South Africa’s gross domestic product (GDP) annually, a study conducted in 56 countries for Visa by Moody’s Analytics showed yesterday. Electronic payments contributed $983bn to the GDP in these countries between 2008 and last year. “With growing card usage contributing $8bn to South Africa’s GDP, there is no denying the benefits of electronic payments here,” Visa country manager for South Africa Mandy Lamb said. – Nompumelelo Magwaza

To the top

©Independent Online   Terms |  Feedback