SAPCC Newsletter Jan 2023

Sapcc Launches 2023 Events p rogramme

The SAPCC has launched its 2023 Events Programme balancing its regular annual events with new original events. This year’s Events Programme continues the progression and evolution of the Chamber in terms of both quality and diversity.

2022 in Review

The Collins Dictionary chose “permacrisis” as the word of the year for 2022. “Permacrisis,” which is defined as

“an extended period of instability and insecurity” by the publisher, is one of a handful of words relating to the challenges posed by climate change, the war in Europe, a cost-of-living crisis and, in many quarters, political chaos. This “sums up quite succinctly just how truly awful 2022 has been for so many people,” the company said in a statement announcing its decision.

South Africa saw a mixed bag of positive and negative developments in 2022. South Africa repealed COVID-19 restrictions allowing for optimism as South Africans returned to life before the pandemic, thus boosting the economy, especially in the sectors mostly affected by the pandemic. However, the optimism was quickly blunted. Eskom’s ongoing blackouts have reached record levels in 2022, with more than 180 days of load shedding in the year, causing an estimated economic loss of R950 billion.

The International Partners Group (IPG) which includes France, Germany, the United Kingdom, and the United

States of America, along with the European Union, have initially pledged $8.5 billion to help South Africa’s efforts in migrating from coal, towards cleaner forms of energy. This should pave the way for a sustainable transition away from coal and towards cleaner forms of energy, building the foundations for a strong green economy.

Politically, the year was dominated by the anticipated results of the ANC’s national elective conference held in mid-December. Cyril Ramaphosa won a second term as ANC president, beating off rival Zweli Mkhize for the position.

SAPCC 2022 CAlendAR in Review

The repeal of COVID-19 restrictions allowed the SAPCC to return to host in-person events and return to a prepandemic programme. The highlights of the SAPCC’s 2022 events calendar included the Multi-Chamber Speed Networking Event, Sasfin Power Hour with David Shapiro, visiting and supporting SAPCC members at Nampo and SAPCC’s participation in Trade and Investment Seminar in Porto with Deputy Minister Alvin Botes to coincide with his

Further highlights include Speaker Event with Moeletsi Mbeki in collaboration with various bilateral chambers, the Women in Business panel event co-hosted by Sasfin, the SAPCC FNB CEO Dialogue panel event, the SAPCC participation in the EU Golf Day and co-hosting the Economic Seminar in collaboration with the Portuguese Consulate and the Portuguese Trade and Investment Agency.

The SAPCC continued its membership of the EU Chamber of Commerce. The role of the EU Chamber is to bring together and co-ordinate EU bilateral member chambers and EU companies on jointly identified topics

SAPCC at NAMPO

Trade and Investment Seminar in Porto

SAPCC FNB CEO Dialogue

with a view to developing a EU-wide approach and advocacy.

that will interest and benefit members and stakeholders. The emphasis is on quality, diversity and relevance.

SAPCC will continue certain popular annual events such as the collaboration with YAPS on its Youth Mentorship Programme, the Multi-Chamber Speed Networking Event, Power Hour with an Economist, SAPCC Celebrates Women in Business, the FNB CEO Dialogue and our flagship event, the Gala and Business Excellence Awards.

The Portuguese President and Prime Minister are scheduled for an official visit to South Africa in June. The SAPCC will co-host 2 events in April and June that focus on bilateral business opportunities between Portugal and South Africa.

The programme also delivers events of interest that provide important information and a platform for thought leadership.

SAPCC continues its close relationship with the Young Adult Portuguese Society (YAPS), whose chairman is part of the SAPCC board, as part of its commitment to the integration and support of the Portuguese and Lusodescendant youth in SA.

ThAnk you

We take this opportunity to thank all those that contributed to our work product. We thank our members, advertisers, sponsors and stakeholders, without which we would not be able to function. We thank all the speakers and participants in the various events. We also thank all those that collaborated with the SAPCC in the various events. A special thank you to Ambassador Manuel Carvalho, Guilherme Lopes and the team at the Portuguese Embassy. Thank you to Ambassador Mmamokwena Gaoretelelwe, Carl le Roux, Cristina Marques and the team at the South African Embassy in Lisbon.

We thank our SAPCC Board of Directors, Anabela Diogo, Carlo Romao, Fernando Anceriz, Manuel Moutinho, Pedro Pereira, Ricardo de Freitas, Rui Marto, Sofia Pone, Tony de Gouveia and Tony Rebelo de Oliveira. We thank our GM, Rui Fragoso for his huge contribution with the assistance of Raquel Simões.

The 2023 PRogRAmme

The SAPCC Board held its strategic session in early December to finalise its strategic planning and the 2023 Events Calendar. The 2023 Calendar continues the progression and evolution of the Chamber in terms of both quality and diversity.

We present the 2023 Events Programme below. The Board continues its objective to deliver a diversified programme

We encourage our members to make the most of their Chamber membership and participate in the various events which form part of the programme.

Dates and locations are subject to change. We recommend that members keep updated on social media and with our SAPCC Newsletter in respect of Chamber events and business opportunities.

AddiTion Al PRogRAmmeS And ACTiviTieS

In addition to the various events, the SAPCC will continue various programmes and activities.

EU ChambEr

The SAPCC will continue its advocacy work through its membership and contribution to the EU Chamber of Commerce. The EU Chamber is a chamber of chambers, its membership comprised by various bi-lateral chambers including the SAPCC. The advocacy work is important in representing and protecting the interests of our members. It is important to identify the practical issues hampering business, trade and investment in South Africa.

The EU Chamber has distributed various papers and held various engagements with other business organisations and government representatives on topics related to the ease of doing business in South Africa. These included broad-based black economic empowerment, local content policies, property issues and the overall Investment Climate.

Collaborations

The SAPCC will continue its collaborations and engagement with various government departments especially the Department of Trade, Industry and

EU Chamber Showcase Event

Competition (DTIC) and various trade and investment organisations such as Invest SA, Gauteng Growth and Development Agency (GGDA) and Trade and Investment KwaZulu-Natal (TIKZN).

Collaboration will also continue with other chambers of commerce including those based in Portugal, such as Câmara do Comércio e Indústria Luso-Sul Africana (CCILSA), Câmara de Comércio e Indústria Portuguesa (CCIP) and local based chambers including the various bi-lateral European chambers.

The SAPCC further values its relationship and collaboration with its members, sponsors and stakeholders.

YoUth

The SAPCC has a special relationship with the Young Adult Portuguese Society (YAPS) comprised of young Portuguese individuals aged between 18 and 40. It is part of the SAPCC’s core objectives to develop and empower Luso-South African youth entering the labour market or corporate world. It is important for the youth to have a voice in the SAPCC. To this end, a YAPS representative is appointed to the SAPCC at board level. We will continue and further develop the SAPCC-YAPS mentorship programme this year.

new in 2023

The Board sought a programme that retained certain annual fixtures as well as a blend of brand-new events. The new events will include:

• Multi-EU Chambers’ Business breakfast in Cape Town

• Doing Business and Investing in Portugal

• Portugal

How to b ESt tak E advantagE of your Sapcc m Emb ErSH ip

• Free third page coverage in our newsletter of your business on becoming a member.

• Network, network, network.

• Advertise your business in the various SAPCC platforms at discounted rates.

• Advertise your event with us for maximum exposure.

• SAPCC welcomes strategic partnerships and joint ventures.

• Share important news like business milestones, new deals struck, anniversaries, expansions, etc.

• Participate in the SAPCC Business Excellence Awards.

• Look out for information on SAPCC communication channels relating to important news, legal updates, discounts, networking events, investment opportunities, trade shows, exhibits, visits by dignitaries and many more.

• Like us on Facebook or connect through LinkedIn for more immediate information.

• Make new connections and friendships at our various events.

oPen inviTATion

CEO LEADERSHIP DIALOGUE SERIES JUL WORKING, INVESTING AND DOING BUSINESS IN PORTUGAL AUG

SAPCC CELEBRATES WOMEN IN BUSINESS SEP

EU CHAMBERS’ GOLF DAY OCT

SAPCC GALA DINNER AND AWARDS OCT

SAPCC BOARD STRATEGIC SESSION DEC

sa PCC EVEnts Pro G ramm E

SAPCC Participates in Economic Seminar: Bilateral Trade Reaches Record High

On the 24 November 2022, the SAPCC participated in the second Economic Seminar co-hosted by Portuguese Embassy and Portuguese Consulate. This panel event was hosted at the Portuguese Consulate in Johannesburg. The panel comprised Portuguese Consul General Graça Fonseca, Portuguese Trade Counsellor, Guilherme Lopes, SAPCC director, Rui Marto and Mota-Engil Managing Director, Carlos Galego.

The Consul General Graça Fonseca welcomed all the guests and participants. This was followed by a presentation by the event’s main speaker, Guilherme Lopes. The participants all welcomed the news presented by Mr Lopes that trade between Portugal

Consul General, Graça Fonseca

and SA and reached a new record high in 2022, for a second consecutive year.

In relation to import and export figures to Europe, total exports from SA to EU27 reached R333,258,192,484 and imports from EU27 to SA totalled R296,370,552,378, representing a trade surplus of 112,4%. This is an increase from the trade surplus of 106,1% in 2021.

SAPCC

SAPCC director, Rui Marto delivered a presentation on the SAPCC. This included its objectives and highlights achieved over the last few years. He also presented a list of sectors which are likely to offer the greatest business opportunities. He extended an invitation to participants to join the chamber and take benefit of its many offerings.

Portuguese exports to the South African market reached €223,7 M, until October 2022, which represents an increase of 25,6% compared to the same period in 2021. In 2022 Portuguese exports to this market should, for the first time, reach the €260 M mark.

The South African market in the first 10 months of this year represents the 31st main market for Portuguese exports, when in the same period of 2021 it occupied the 33rd position and, in 2020, the 41st.

Exports of machinery and appliances, motor vehicles, metals, minerals, plastics and rubber products continue to represent the main 5 category of products exported from Portugal to South Africa. These include products such as the Toyota Land Cruiser, Grupel Power Generators, Cabelte Power Cables, as well as Vista Alegre Homeware and Vinho Verde Wine.

Portuguese exports other than motor vehicles, tractors, cycles and other land vehicles, their parts and accessories (NC87) to the South African market in 2022 have grown throughout the year.

In relation to South African exports to Portugal, the top 5 product categories are: Citrus fruits and vegetables comprising 51,9% of exports, Plastics and rubber (12,7%), Live animals (11%), Prepared foodstuffs (9,7%) and Vehicles, aircraft and vessels (5,8%). Portugal is the 4th biggest EU27 destination for South African fruit and vegetable exports, representing 80,000 tons of products. Exports grew 34,2% up to September 2022.

In terms of investment flows between Portugal and South Africa, Portuguese foreign direct investment (FDI) in South Africa increased 8,7% to €105.6M. South African FDI in Portugal increased a record high 24.9% to €349.5M.

in the construction and mining sectors. Mota-Engil is

Bil AT e RA l T RA de Re AC he S Re C o R d h igh

Trade Counsellor, Guilherme Lopes

SAPCC Director, Rui Marto

Mota-Engil Managing Director, Carlos Galego

a leading Portuguese company ranked in top 25 of largest European construction groups. They operate in 23 countries, in three distinct geographical areas –Europe, Africa and Latin America, with holdings in over 200 companies. Mota-Engil operates in 14 countries in Africa including South Africa, Angola and Mozambique.

Mota-Engil is currently busy with the construction of the Msikaba bridge, a cable-stayed steel deck bridge spanning the Msikaba River, near Lusikisiki in the Eastern Cape of South Africa. The Msikaba bridge forms part of the N2 Wild Coast (N2WC) road project. The project was awarded to the Concor Mota-Engil Joint Venture.

It is estimated that 28 000 cubic metres of concrete, 2 700 tons of structural steel and 2 500 tons of cables will be needed during construction. The balance of works contained in the contract includes construction of 1,5 km of approach roadworks on either side of the bridge. Expressed in quantities, this will include 650,000 m³ of bulk earthworks of which 430,000 m³ is hard rock, a conventional three span bridge and four insitu concrete culverts crossing some of the tributaries.

Mota-Engil is a great success story of an investment in SA by a Portuguese global company.

We thank the Portuguese Embassy and Portuguese Consulate for co-hosting this event and inviting the SAPCC participation. We thank our members and guests for their attendance and participation. The presentations were very interesting and the economic data provided was invaluable. We look forward to future economic seminars.

SAPCC directors with all the presenters

Advertising

So, “what’s your MOONSHOT?”: Planning for the New Year

Many of you glancing at the title of this months piece may have wondered whether I was still perhaps suffering from a New Year’s hangover when writing it. The answer is no. It is in fact the title of a book by trend specialist and author, John Sanei. The title is based on the front page of his book which refers to American president John F Kennedy’s address to Congress on 25th of May 1961 in which he stated that the US should set itself “the goal, before this decade is out, of landing a man on the Moon and returning him safely to the Earth.” This (Kennedy’s) vision became known as the ‘Moonshot’. It was at the time a bold move, with no clear

by tony de Gouveia*

path and technology (at that stage) to back it. It rested solely on Kennedy’s belief as the leader that the US could and would do it, if they committed fully to this vision as a nation. This vision became a reality on 20th of July 1969 when Neil Armstrong and Buzz Aldrin walked on the moon.

To bring the above into our current context, we are at present in South Africa and globally in the midst of great gloom and despair, as we battle to emerge from the effects of the Covid era. It could be argued that we locally and internationally need a new ‘Moonshot’ (Vision) to motivate us out of our current morass. Sanei states that “the Moonshot created an opportunity for people to work together for a Massive Transformative Purpose-a major, aspirational motive driven by a deep desire to achieve a life-changing goal.”

The above perspective should give us much food for thought at this time of the year when we attempt to reflect on the past year and try to plan changes and goals for the new one.

Tony de Gouveia

One of the reasons for the failure of New Year’s resolutions is that they are not meaningful or linked to any purpose that motivates or excites us. If your new behaviour has a “same old, same old” flavour to it, then the chances are you are you could be heading for failure.

So how then do we overcome this inherent weakness in our goal setting and change efforts? Well, I would suggest for one that, perhaps we need to develop our own personal ‘Moonshot’ (Vision) in the predictable absence of such coming from our national and international leadership. Interestingly, the Portuguese nation reached the height of its influence in the world, according to this author, as the result of the vision of one man - Henry “the Navigator” (Infante D. Henrique). While mainly biographical authors and historians are divided about the exact legacy that this man left to Portugal, there seems to be a consensus that, regardless of his motives, his ideas concerning Portuguese expansion down the African coast inspired the voyages of discovery that ultimately concluded with the Portuguese Caravelas reaching the East and bringing with them huge wealth and influence for Portugal. This power and influence have never been regained since that era ended in the 16th century.

In South Africa, our most notable and world famous visionary was Nelson Mandela, whose vision of a democratic, non-racial, non-sexist South Africa inspired him to lead a movement while being jailed for over 27 years. At the Rivonia trial in the 1960s he was on record as saying that it was this vision that he was prepared to die for. Sadly this vision has been a casualty of the current tranche of poor political leadership and corruption in this country. In my view, part of the reason why SA is in the doldrums of poor economic growth presently is that our national leadership have been so busy being selfabsorbed, conniving and corrupt that they have stopped developing a national vision that we can all buy into - i.e. how can we revive the vision of our economically and socially prosperous “rainbow nation”?

At a business (organisational) level we can see the power of vision in the history of known brands such as Apple, Microsoft and McDonalds. For example the founders of Apple (Steve Jobs) and Microsoft (Bill Gates) as students, already envisioned how the IT industry and computers would unfold and went about creating that future for their companies. Jobs saw the future of IT in the development of technology in the form of Apps for the mobile phone while Gates concentrated on the development of software technology for both desktop and laptop computers.

So, you may ask, can this work at a personal level? The answer is YES. The same principles apply. If we study futurists such as Joel Barker we can learn how to develop (a) vision(s) that can mobilise us to change bad habits into good ones. In essence visions are dreams, fantasies, ideas thoughts about the future that we wish

to create for ourselves. The word “Vision means seeing the possibilities in people, projects, causes…. and so on. Vision is a future state inspired by your voice.” (Stephen Covey - The 8 th Habit).

According to Joel Barker there are a number of key elements that any vision should contain. These are that the vision needs to be:

• Personally (leader) initiated; your need to take ownership of your vision. Doing it “for the children” or whoever won’t do; unfortunately many of us are “people pleasers” who end up trying to live other people’s dreams and failing because of this!

• Shared & supported (by a community); ideally you need to have a support group who believe in your idea; this is as applicable to buffering you from resistance from whatever corner as it is in protecting you from the effects of Stress;

• Comprehensive & detailed; this is where most visions (personal or otherwise) fail - they are short on both, being vague and “fuzzy”, lacking substance and thus eventually fizzling like most New Year’s resolutions. The most practical antidote to this is the use of “ SMART” or “SMARTER” goal setting which can ensure that your vision becomes more substantive.

• Positive & inspiring. This aspect was referred to earlier in this article - unless your vision “grabs you” and pulls you out of your comfort zone, then you will remain in whatever rut it is you are trying to get out of.

So, to conclude, where nations, businesses and individuals have positive and inspiring visions that meet the above criteria, they have been shown historically to achieve success. The problem nowadays is that there is a lack of vision coming from leaders at all levels. Still, nevertheless, it’s a good time of the year to evaluate whether you are well placed to benefit from this powerful developmental tool by generating your own inspiring “moonshot”.

Whether you believe you can or you can’t, in both instances, as Henry Ford is once quoted as saying, you will be right…

Acknowledgements:

Steven Covey: The 8th Habit

Joel Barker: The power of Vision

John Sanei (2017): What’s your moonshot? Burnet Media

*Tony de Gouveia is a Clinical Psychologist and Resilience Coach in Private Practice at the Akeso and Life Brackenview Clinics in Alberton. He is the founder of the Positive Psychology Group (PPG) in Johannesburg and has made numerous presentations on the topic of Positive Psychology and Resilience.

http://tonydeGouveiaPsychologist.webs.com

New Year, New Business

Picking the Right Legal Entity for Your New Business

by rui marto*

Your new year’s resolutions may include the opening of a new business. Business may be carried on in South Africa using a number of possible investment vehicles, ranging from companies to business trusts and

joint ventures. Part of your planning should be to consider what type of legal entity to choose to trade under.

Rui Marto

A new year often motivates new beginnings. This may include the decision to become an entrepreneur and open a new business or expand an existing business in a new territory. Opening a new business is exciting. It can be very rewarding financially and personally fulfilling. However, there are also many challenges ahead and I recommend doing all the necessary preparation and planning before embarking on this new journey. I highly recommend reading a series of articles by Raizcorp’s CEO, Allon Raiz intended for entrepreneurs at: https://www.raizcorp.com/ resources/20-lessons-over-20-years-a-series-ofarticles-by-raizcorp-ceo-allon-raiz/

As part of the preparation one should consider what legal entity one should use to operate the business. There is no “one-size-fits-all” and same should depend on various factors including the estimated size of the operation, number of shareholders, business activity and your exit plan. Business may be carried on in South Africa using a number of possible investment vehicles, ranging from companies to business trusts and joint ventures.

Choi C e of l eg A l e n T i T ie S

An investor or entrepreneur could register the following types of entities: a private or public company, a personal liability company, an ‘external company’, business trust or operate individually as a sole proprietor and in a partnership.

• Private Company (Pty) Ltd is a company that its Memorandum of Incorporation (MOI) prohibits it from offering any of its shares to the public, and restricts the transferability of its shares. It is treated as a separate legal entity even if you are a sole shareholder. Shareholders are generally not liable for company debts, although there are some tax liabilities. The disadvantages may include the requirement to comply with a large number of legal requirements adding administration and costs and directors have a fiduciary duty and may have personal liability in certain circumstances.

• Personal Liability Company (Inc.) is a private company of which the company’s Memorandum Of Incorporation (MOI) determines that the company and the directors are jointly and severally liable for any debts and liabilities of the company. Example with attorneys, auditors, etc.

• Foreign and External Company

– A foreign company wishing to conduct business in South Africa can either establish a separate South African company or it may establish a branch office by registering as an external company with the Companies and Intellectual Property Commission (CIPC).

– A foreign company is a company incorporated outside of South Africa, irrespective of whether it is a profit or non-profit company or carrying on business in South Africa or not.

– A foreign company is required to register as an “external company” if it conducts or intends to conduct business in South Africa. It is not recognised as separate legal entities (except for exchange control purposes).

– A foreign company is prohibited from offering securities to the South African public unless it follows the specific provisions of the Companies Act, relating to offers to the public.

• Business Trust is a legal arrangement whereby ownership and control over property is transferred to a person or organisation (the trustee) for the benefit of someone else (the beneficiary). Trusts are often used to attain a form of limited liability without the formalities of incorporating a close corporation or company. A business trust is an operating business entity, usually an inter vivos trust, which operates as a business entity, but because of adverse tax consequences is not as popular as it used to be.

• Sole Proprietorship and Partnership

–

Sole Proprietorship is a business owned by one individual. The sole proprietorship is not a legal entity. The business has no existence separate from the owner. The owner is personally liable for the debts of the business.

– A partnership (or unincorporated joint venture) is the business relationship existing between two or more persons (limited to 20) who join together to carry out a business.

– A partnership is also not a separate legal person or taxpayer.

– The net profit of the Sole Proprietor and Partner is viewed as personal income of the business owner and taxed in his personal name.

– A sole proprietorship and partnership can operate under the name of its owner/s or it can do business under a trade name. The trade name does not create a legal entity separate from the sole proprietor or partnership.

Tax and other considerations affect the choice of a particular form of business entity. The most commonly adopted forms of doing business by foreign (and local) investors are private companies.

Com PA nie S ACT, 71 of 2008

The registration and management of companies are governed by the Companies Act, No. 71 of 2008 (the Act). A company exists as a separate legal entity from its shareholders and managed and controlled by its directors. Liability is limited to the shareholders’ capital contributions. Generally, there are no minimum share capital requirements in South Africa, although certain industry laws, such as banking and insurance, impose these requirements.

into consideration estate planning and tax implications. Trusts and company structures are important tools for protection against creditors and for estate planning securing wealth protection for future generations.

One should consider the entity’s tax rate and efficiency. The tax rates are as follows:

• Sole proprietors and partnerships are taxed at individual rates.

• Trusts are taxed at a rate of 45%.

• Companies (including external companies and incorporations) are taxed at a flat rate of 27% (ending on 31 March 2023 and later, previously 28%) with 20% dividends tax when you take profits out.

There are also other tax considerations such as Capital Gains Tax, small business exemptions, exclusions and other exemptions. It is best to consult a tax practitioner to assist in navigating the course.

Con C lu S ion

Ensure that you plan and prepare properly before commencing with the new venture. There are a number of considerations before choosing the right fit for you. Be informed and seek professional advise in assisting you with this decision.

The registration process for private and public companies commences with the reservation of the company name. A company is incorporated by submitting its Memorandum of Incorporation (MOI). A standard form of the MOI is included in the Companies Act, however, a company may choose to submit its own version. A company may trade only once it is registered. A company can be registered within 2 to 5 days.

A private company is only required to prepare annual audited financial statements where the company’s turnover, number of employees and the nature and extent of its activities require it by law to do so. The effect is that larger companies must be audited.

It is recommended shareholders conclude a shareholders’ agreement which regulates the material terms of the relationship including voting rights. Should any provisions of a shareholders’ agreements be in conflict with either the Companies Act or the MOI, same will be deemed to be void.

Con S ide R eSTAT e Pl A nning A nd

*Rui Marto is a practising attorney, founder and director of attorneys Marto Lafitte & Assoc Inc, in Bedfordview specializing in commercial and property law. He has a Bachelor of Arts degree and Bachelor of Law degree from the University of Witwatersrand. He is also an executive director of the SA-Portuguese Chamber of Commerce and Chairman of the EU Chamber of Commerce. rui@martolafitte.co.za

TA x

Each option has advantages and disadvantages. The decision of which entity to choose should also take

fo R m A li T ie S fo R Regi ST e R ing A Com PA ny

Port of Sines is Set to Become the Hub for Green Hydrogen in the Country

"We are setting Sines up for post-coal (…), for the construction of a major green hydrogen axis", said the Minister of Economy and Maritime Affairs, António Costa Silva, when signing the addendum to the agreement to manage and operate the Sines Zone estate, held in Lisbon.

AICEP Global Parques will now manage and operate the public lands in the Sines zone, held by IAPMEI, following the addendum to the agreement signed at the ceremony that featured the Secretary of State for International Trade and Foreign Investment, Bernardo Ivo Cruz.

This management includes the State’s lands and is for installing projects of strategic interest to the economy, as the projects for the green and digital transition, as well as those to supply renewable power, are beyond the Sines Industrial and Logistics Zone.

The Minister stated that Sines can be "one of the country’s major hubs" in the field of renewables, associating sustainability with technological development, "which will attract more companies".

Costa Silva also stated a taskforce was set up between the Ministries of Foreign Affairs, Economy and Maritime Affairs,

and Environment and Climate Action, Sines Port and the Portuguese International Trade and Foreign Investment Agency (AICEP), to respond to potential investors in these areas.

new eConomy

"When ending the session, the Secretary of State for International Trade and Foreign Investment, Bernardo Ivo Cruz, said a new economy is being built that responds to Portugal’s challenges in the 21st Century.

"Portugal is an open and European economy and in the Sines hub, this is what we find: a gateway to the sea, where projects and proposals are concentrated to meet the challenge of the twin green and digital transition", he said.

Ivo Cruz also underlined that Portugal 2030 counts on four main agendas: green transition and decarbonisation, digital transition, talent and people, and the sea; all of these are components we find in Sines.

Source: https://www.portugal.gov.pt/en/gc23/communication/newsitem?i=we-are-setting-sines-up-for-the-construction-of-a-majorgreen-hydrogen-axis

Portugal precisa «de um eixo atlântico para desenvolver a economia do mar»

que pode ter potencial para atingir, ou até mais, mas 500 ou 1000 milhões de euros –, seria extraordinário».

«Se daqui a dois anos puder chegar aqui e dizer que o grande projeto eólico offshore já tem duas instalações, que estão em processo de desenvolver a sua produção e tem mais outras em desenvolvimento, seria extraordinário», disse ainda

«Se daqui a dois anos puder dizer que alguns investimentos que estão previstos para o grande polígono de Sines, que são de cerca de 20 mil milhões de euros, já estão executados, e, sobretudo, que a parte do hidrogénio verde, da amónia, do metanol e da constituição de um polo de shipping em Sines, será decisivo», acrescentou.

Portugal precisa «de um eixo atlântico para desenvolver a economia do mar», afirmou o Ministro da Economia e do Mar, António Costa Silva, na terceira sessão dos Diálogos de Sustentabilidade «A Economia Azul», organizado pela Global Media Group e a Fundação Inatel, em Setúbal.

«Vou dar só uma ideia dos projetos que em 2022 conseguimos atrair: conseguimos 47 novos projetos internacionais - cerca de 2,4 mil milhões de euros quando forem contratualizados - 19% dos quais vieram dos Estados Unidos, 15% vieram da Suíça e 15% do Reino Unido», disse lamentando a fraca participação dos países da União Europeia apesar do investimento da Alemanha, que foi de cerca de 13%.

O Ministro disse que «Portugal, enquanto está dentro da União Europeia e se bate pelas suas políticas, não pode esquecer o eixo Atlântico e a ligação profunda com o Reino Unido e com os Estados Unidos, até para desenvolver a própria economia do mar», acrescentando que «isso é fazível e vai acontecer com maior ou menor dificuldade».

António Costa Silva afirmou que «se, daqui a dois anos, puder chegar aqui e dizer que o nosso grande centro de bioeconomia azul em Matosinhos está a funcionar, que já teve receitas – não ainda os quatro mil milhões de euros

indúSTRiAS

A par da concretização destes investimentos, o Ministro quer também que haja desenvolvimentos significativos na modernização e digitalização de muitas empresas do «quadrilátero que é Braga, Guimarães, Famalicão, e Barcelos», onde está concentrada grande parte da produção industrial, e que essas empresas continuem a ser competitivas, apesar do aumento de preço das matérias-primas.

António Costa Silva referiu ainda as agendas mobilizadoras do PRR para desenvolver outros setores importantes da economia. «Temos um grande centro de competências ferroviárias e há agendas mobilizadoras para voltarmos a produzir material circulante e até exportar».

E também para o desenvolvimento da indústria aeroespacial em Ponte de Sor, para a produção de aeronaves de pequena e média dimensão, nos próximos dois anos.

Fonte: https://www.portugal.gov.pt/pt/gc23/comunicacao/ noticia?i=portugal-precisa-de-um-eixo-atlantico-paradesenvolver-a-economia-do-mar

Ministro da Economia e do Mar, António Costa Silva

Portugal with the highest underwriting ever for European Space Agency programmes

The 22 countries that make up the European Space Agency, including Portugal, will boost the institution’s funding.

This commitment was stated by the Portuguese Minister of Science, Technology and Higher Education Elvira Fortunato during the ESA Council at Ministerial Level, which will meet for two days in Paris.

In a statement given to the Portuguese press agency Lusa, Elvira Fortunato said expectations for the meeting are "extremely positive", especially after hearing her counterparts’ initial interventions.

"We all agreed on increasing the ESA budget to have autonomy, in Europe, as concerns space and therefore being able to leverage the economy and solve part of the problems we have", she claimed.

Elvira Fortunato also recalled that the Government will boost the investment envisaged for the coming five years of agency programmes.

The Minister said "Europe needs to be more ambitious", adding that "we cannot continuously depend on data or solutions that are imposed on us or sold by other States", Elvira Fortunato explained that since 2016, when Portugal joined the ESA, the country "has

Minister of Science, Technology and Higher Education, Elvira Fortunato, at the European Space Agency Council at Ministerial Level, Paris, France.

been raising its financial contribution" and noted the country’s strategic position, especially the Azores, as well as the Portuguese researchers and industry that take part in scientific and technological development programmes.

"The increase in Portugal’s underwriting allows a boost in science and technology companies and institutions taking part in the programmes developed by ESA, aligned with the goals of the National Space Strategy, namely technological capacity-building for the sector and national infrastructures", said the Minister of Science, Technology and Higher Education Elvira Fortunato during the ESA Council at Ministerial Level

During this high-level meeting, Portugal increased its investment in space programmes with a full underwriting of 125 million euros. With this, the largest underwriting ever, Portugal is bolstering its position in the space sector, supporting the reinforcement of scientific, technological, and corporate activities in the field, and staking its commitment to the sector development at national level.

Portugal has been rising its contribution to ESA since 2016, in what is the main public political tool for the Government support to this sector. At this Council at Ministerial Level, the motto for which was "Speeding up the use of space in Europe", Portugal reached its largest contribution ever, an investment of 115 M€ in ESA programmes, thus showing how important these are for developing national industry R&D centres.

With this investment, Portugal intends to speed up the implementation of the National Space Strategy, Portugal 2030 aims, in the context of international cooperation, in particular developing the telecoms sector with quantic technology, enhancing Portugal’s position in the Atlantic namely through projects to be implemented in the Azores, and taking on the commitment to sustainability on Earth and in Space through the Earth Observation and Space Security programmes, aligned with the policies of all member states for a circular space economy and zero space debris, as well as strengthening its contribution to ESA scientific programmes.

These are the various scales of the programmes that will set the pace of the space sector activities in Portugal in the coming years. And the Minister recalled that these will be "complemented by the national assistance to the sector, through the Recovery and Resilience Facility, in a clear ambition to make Portugal a space nation by the end of the decade".

Over two days, the strategic lines and programmes at the core of how the European Space Agency will operate in the next five years were discussed and approved.

Source: https://www.portugal.gov.pt/en/gc23/communication/ news-item?i=portugal-with-the-highest-underwriting-ever-toeuropean-space-agency-programmes

by allon raiz*

LegacyOver the past 20 years, Raizcorp CEO Allon Raiz has learned many tough lessons and overcome many entrepreneurial challenges. He has also had the privilege of learning from the journeys of over 13 000 entrepreneurs who have passed through Raizcorp. In a series of articles which SAPCC will be sharing, Allon shares some of the most important lessons he has learned using a sequence

that mirrors the typical stages of any entrepreneurial journey –from ideation through to scaling a business.

I think legacy is a very egocentric concept. I often hear entrepreneurs saying in their pitches, “I want to leave a legacy.” What does that mean exactly? Does it mean they want to amass a fortune and hand it down to generations to come in their families? Does it mean having a hospital cancer wing named after them so their name is uttered by thousands of people who never knew them? What do they mean? To be clear, I have no issue at all with concept of creating generational wealth but then just call it generational wealth, not legacy.

Like so many other writers do when faced with topics, off I go to try understand the definition of the word “legacy”. According to the Merriam Webster dictionary, legacy is “something transmitted by or received from an ancestor or predecessor or from the past.” It is a “gift of will especially of money or other personal property.” Darn it! Merriam Webster is saying that generational wealth is legacy. That

Allon Raiz

messes with my plan for this lesson. But, thank goodness for Chinese proverbs, one of which says, “Family wealth does not last for three generations. The first generation makes the money, the second spends it and the third sees none of the wealth.” Although this is just a proverb, I have witnessed this happen in so many families in my own lifetime.

According to Williams Group Wealth Consultancy, 70% of wealthy families in America lose their wealth by the second generation and 90% by the third. It takes the average recipient of an inheritance 19 days before they buy themselves a new vehicle. So, according to both the Chinese proverb and the Williams Group, if I am trying to create a so-called legacy for my two boys, it will most likely end with them, the second generation. Not much of a legacy.

The proverb bothers me a lot and has kept me up at night from the time I became a father. What is the legacy I want to leave my boys? It’s a hard question, and I am continuously sculpting the answer.

At its essence, the question is whether I want to make their life easy or not intervene at all. What father would want their kids to struggle? On the other hand, what father would want to see their kids struggle with self-esteem and all the associated manifestations and pain? How does one balance this? It’s a near-impossible balancing act and different for every family.

I am someone who has been through the entrepreneurial struggle, and who has owed millions without knowing how it was going to be paid back. I am someone who has faced uncountable month ends not knowing where to find the money to pay salaries and rent but who has always found a way. I am someone who has lost my biggest clients and my best staff and who has clawed their way back to profitability. I am someone who knows the deep, deep satisfaction that comes with knowing that all I have achieved is a result of my hard work, my savvy and my creativity. But, I also know that I have had many, many lucky moments, that I was surrounded by incredible mentors, that I was supported by an unflinching wife and an incredible team at work, and that I had the privilege of a tertiary education.

So really, the legacy I wish to leave my boys is a set of values, a set of life tools, a good education, and the knowledge that someone believes in them. With this legacy, I hope they find their own successful journeys and, when the time comes and if there is indeed an inheritance, I hope they fall within the 30% of second-generation wealth families who not only use the capital wisely but, more importantly, who hand down this legacy of values, life tools, education and the knowledge that someone believes in them to their own children.

Here are a few of the legacies I wish to leave my boys . . .

woRk fiRST, Pl Ay l ATeR

From a young age, my wife and I have drummed this into our boys. Get your work done first then you can go chill with your mates. Oh, and work hard. I’m not convinced by the worksmart-not-hard mantra. If anything, it’s work hard and smart.

e xPoSuRe To BuSineSS

From a young age, both my boys were deliberately dragged to meetings, business functions and dinners. I would make them tell me what they learned from each interaction. They would ask questions about what this meant and what that meant. They have been marinating in business concepts.

e xPoSuRe To All CulTuReS

My dining room table is often filled with the most interesting people from all cultures from across South Africa and abroad. My boys are required to engage with the guests before dinner and, in many instances, are required to do some Google research on the countries or traditions of the guests and prepare questions based on their research.

geT uP AgAin

Whether in sport or academics, my children are going to have some terrible disappointments. These are just metaphors for life. My wife and I have been working with our boys to give them a framework for processing failure in a way to learn from it and quickly get up again. Recovering from failure is a skill that can be learned.

Be kind And ReSPeCTful

Nowadays, this seems such an old-fashioned value but it is one I want my boys to take on board. In a context in which everyone at school seems to be dissing one another and showing off, there is a great opportunity to be protective about and kind towards those who are being bullied. The boys are required to respect and engage all people, no matter their age or position in society. Everyone has a great story and everyone can teach you.

There is another Chinese proverb, “Give a man a fish and he will eat for a day. Teach a man to fish and he will eat for a lifetime.” I would like to add a little twist . . . Give your child money and he will eat for a day. Teach your child how to make and respect money and the importance of passing this on, and he will teach his child who will teach his child and so on. Now that is legacy.

*About Allon Raiz

Allon Raiz is the CEO of Raizcorp. In 2008, Raiz was selected as a Young Global Leader by the World Economic Forum, and in 2011 he was appointed for the first time as a member of the Global Agenda Council on Fostering Entrepreneurship. Following a series of entrepreneurship master classes delivered at Oxford University in 2014, 2015 and 2016, Raiz has been recognised as the Entrepreneur-in-Residence at the University of Oxford’s Saïd Business School.

Follow Allon on Twitter: www.twitter.com/allonraiz

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