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Ecco Chamber

Fortnightly Italian news made in South Africa

 II edition September 2024

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Decent Exposure

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Chambers Note
 

Decent Exposure

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The theme we wish to elicit this week is that of exposure, it touching on a wide variety of ItalCham’s activities and one of the main ways we add value to our many stakeholders.

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When discussing this theme, we could be referring to our events, which provide opportunities for both general networking and sector focussed sessions, allowing opportunity for new professional connections to form which have the potential to positively change the pattern of your business.

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Furthermore, our trade missions reveal the many embryonic business opportunities that are inherent in a well-established trade link between Italy and South Africa. Dozens of companies have benefited positively from ItalCham’s market-entry services which are designed to be a bridge between Italy and South Africa.

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From another angle, we could be referring to the visibility we provide to members through the things we publish, including our recently published annual directory, our fortnightly newsletter, our weekly members day posts and more. Furthermore, our annual directory and fortnightly newsletter are aimed at providing exposure to important information pertaining to specific sectors and relating to general Italy-South Africa relations.

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We could be referring to the educational exposure that interns receive when coming to South Africa. They are suddenly shown a new world outside of Europe, engaging with local patterns, with our vibrant Italian-South African community and even getting to understand better the intricacies and practicalities of Italy-South Africa relations.

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Finally, our work promotes our respective countries and exhibits Italy in an authentic fashion to South Africans, and South Africa to Italians. This is achieved by promoting cultural events that take place within the Sistema Italia and by engaging daily with the actual stakeholders that take place in interaction between our two countries.

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Whether we are talking about networking opportunities for business, publicity for our members, educational exposure for interns, or authentic cultural experience for a general public, this week’s newsletter touches on all these themes. In reading this edition of Ecco Chamber, we therefore wish to plant this seed as you venture through the broad range of items we deliver today.

 

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Olive Oil

Our Favourite Liquid Gold

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Olive oil consumers are becoming clearer as to why the Greek poet Homer referred to it as "liquid gold," now retailing at up to R300 a litre. Under current conditions, only an excellent harvest will stabilize the price, by permitting a greater availability of the commodity. Vittoria Castagnetta, director at Morgenster, a Chamber member and a leading South African company in olive oil and wine production, states that the availability and pricing of extra virgin olive oil worldwide will be influenced by the upcoming European harvest.

According to The Guardian, Spanish consumers who a few years ago were spending less than 5€ (R100) on a litre of high-quality extra virgin olive oil are now spending up to 14€ a bottle. In European shops, olive oil has been reported as the most frequently stolen item. Because of this, there's a greater effort to keep it secure, even using specialized anti-theft containers to make it harder for thieves to steal. A British newspaper has stated that there is an increasing number of criminal gangs focused on stealing the liquid gold, especially in Mediterranean Europe, in order to resell it at higher prices abroad. In December 2023, members of an international gang were arrested, primarily targeting profits from reselling high-quality Italian and Spanish olive oil. Eleven criminals were captured, and approximately 5000 liters of olive oil worth R1,500,000 were confiscated.

Those who have been able to produce olive oil have not necessarily had many complaints. As illustrated by the graph below, while the quantity exported has been decreasing over the last five year, the value of olive oil exports increased dramatically. This trend is primarily driven by higher prices resulting from increased demand and reduced supply, largely due to poor harvests and adverse environmental changes.

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Price rises are an inevitable consequence of decreasing supply when it comes to a commodity as much in demand as olive oil. Dramatic price increases such as that undergone by olive oil as a commodity causes a chain reaction throughout the oil sector and also affecting those goods that use it. In the face of this, farmers and exporters struggle to meet global demand, even leading to a tendency to lower quality and the spread of counterfeit goods in the market. This problem has arisen mainly due to environmental changes, which has therefore led to a decrease in the quantities of olive oil produced.

These climatic changes, such as temperature anomalies that are difficult to predict, have made the cultivation of olive trees (which take 25 years to mature), using traditional methods, much more difficult. This inconvenience that has occurred in recent years could worsen still, causing a considerable impact on the agricultural sector in the future.

Castagnetta also points out that while climate change certainly plays a significant role, there is also an increase in demand for extra virgin olive oil due to health and lifestyle trends. As evidence of this, during the 10 years before the recent price shock, global olive oil exports rose steadily with little effect on the price. This price buoyancy suggests a demand that kept up with increasing supply.

South African current Situation

The fluctuating prices of olive oil and its derivatives on our local shelves can be attributed to all of these reasons. In 2023, data shows that Spain (68.7%), Italy (25.9%), Greece (1.9%), and Portugal (3.1%) were the top exporters of olive oil into South Africa. Major export markets for South Africa's olive oil include during that time were, among others, Namibia (21.3%), Zambia (12.3%), Botswana (17.1%), eSwatini (6.8%), USA (6.7%), Mozambique (5.1%), and Zimbabwe (6.1%), therefore, primarily in Sub-Saharan Africa.

Due to its net importation of olive oil, South Africans are exposed to global price increases. However, Castagnetta highlighted the favourable conditions for South African exports in the coming years, where South Africa can plug the gap of other climate-hit suppliers. However, she also noted a substantial increase in local demand that must be met, particularly due to reduced imports of extra virgin olive oil. A Mediterranean-style environment is mostly used to grow olives and olive oil. Due to its Mediterranean-style environment, South Africa’s Western Cape region is the primary location for the production of olives required to make olive oil. As a result, it produces 95% of the olive oil produced in the country.

Production remains small-scale. Nearly half of the 200 registered olive growers in the SA Olive Association operate on farms that are smaller than 5 hectares, reflecting the country's continued reliance on small-scale olive farming. Nonetheless, despite their tiny size, South African olive oil has excelled in international competitions, winning top honors in categories that are often dominated by olive oils from Spain and Italy. For this reason, Castagnetta believes that in terms of quantity, South Africa remains a relatively minor producer. However, in terms of quality, South African extra virgin olive oils are already competing with some of the finest in the world.

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Our New Directory is out!

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welcoming our new member

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MJD Law is a full service law firm specialising in assisting multinational clients between Southern Africa and Italy.

With offices in Johannesburg, South Africa and Brescia, Italy, our team of internationally accredited South African and Italian lawyers are able to assist with your local and cross border needs.

At MJD Law it is our mission to support our clients' commercial endeavours.  Our clients see us as an extension of their workforce – we are the external 'in-house’ legal solution.

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nedbank speed networking bingo event

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Italcham’s Speed Networking Bingo, held in collaboration with Nedbank on 17 September 2024, was a remarkable success. The event brought together members from Italcham, the British Chamber of Business in Southern Africa, the Belgian Chamber of Commerce in South Africa, and the Business NL-SANEC Chamber. Designed to foster professional connections in a unique and lively setting, participants had a memorable evening filled with opportunities to network in an unconventional way.

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The evening started with participants being randomly assigned colored letters, each contributing to a pre-determined word. As letters were called, each attendee had a brief 90 seconds to introduce themselves, making for quick and engaging interactions. The bingo-style format encouraged dynamic exchanges, giving everyone a chance to make meaningful connections within the short introduction window.

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The competitive aspect came into play as teams raced to cross off their letters on a large board. This added a fun, collaborative twist to the evening, sparking camaraderie among attendees. After the game, everyone mingled and continued networking, creating lasting connections and potential business partnerships. The success of the event was due to its well-planned format and the participants’ enthusiasm, making it a great platform for both fun and professional growth.

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ITALIAN SCREENS – SECOND EDITION

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The Consulate General of Italy in Johannesburg is pleased to invite you to the second edition of "Italian Screens", a film festival featuring the best of contemporary Italian cinema.

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Italian Screens will take place from 27 to 29 September 2024 at the Ster-Kinekor cinema “The Zone” in Rosebank, Johannesburg and The Labia Theatre in Cape Town.

Below you can find the details of the screenings, all in Italian with English subtitles, and the link to book your free tickets:

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  • “The first day of my life” by Paolo Genovese, starring Toni Servillo, Valerio Mastandrea, Margherita Buy and Sara Serraiocco - Friday 27 September 2024, 6pm 

  • “Romeo is Juliet” by Giovanni Veronesi, starring Sergio Castellitto, Pilar Fogliati, Margherita Buy, Geppi Cucciari, Maurizio Lombardi - Saturday 28 September 2024, 6pm 

  • “Trust” by Daniele Luchetti, starring Elio Germano, Pilar Fogliati, Vittoria Puccini, Isabella Ferrari - Sunday 29 September 2024, 5pm

 

For ticket reservations, please click button below 

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The initiative is organized in collaboration with the Italian Embassy in Pretoria, the Italian Consulate in Cape Town, the Italian Cultural Institute of Pretoria, the Directorate General for Cinema and Audiovisual of the Ministry of Culture (DGCA-MiC) and Cinecittà.

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CORO GIUSEPPE VERDI & ASSOCIAZIONE GIULIANI NEL MONDO ANNIVERSARY
GALA CONCERT

Tickets from R250

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european chambers' 3rd annual golf day
 

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 Info and bookings:  desk@italcham.co.za

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11th CEO DIALOGUE ON SOUTHERN AFRICA

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The 11th TEHA CEO Dialogue on Southern Africa is the landmark annual event for global, international and South African public and private stakeholders, with the objective to strengthen their strategic relationship, foster in-depth interaction among peers and Government officials and promote joint growth and investment opportunities.


This event is strictly reserved to Chairmen, CEOs, Directors General, and Managing Directors

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Date: November 14-15, 2024 Johannesburg, South Africa

Address: Summer Place (69 Melville Rd, Hyde Park)

Age Restriction: 25+

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​Participation at the forum is charged R10000 (excl. VAT) per person.

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SIGEP World 2025
Buyers Programme

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ItalCham invites South African companies to apply for the Hosted Buyers Programme at SIGEP - The World Expo for Foodservice Excellence,taking place from 18-22 January 2025 at the Rimini Expo Centre, Italy.

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Benefits for successful applicants include:

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    Pre-arranged meetings with top SIGEP exhibitors

  • 3-night hotel stay (B&B treatment) for one buyer per company

  • Up to €300 flight cost reimbursement

  • Transfers between Bologna airport and the hotel

  • Daily transfers to the expo venue

  • Free entrance and lunch at the exhibition centre

 

Terms and conditions apply. For more details, visit our webpage: https://www.italcham.co.za/sigep-world-2025-buyers-programme

 

For assistance, email italy@italcham.co.za.

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zoomark 2025
buyers programme

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We invite South African companies to apply to join the Hosted Buyers Delegation for ZOOMARK 2025, the premier international trade show for pet food and pet care. Organized by BolognaFiere, this B2B event stands as Europe's pinnacle gathering for manufacturers and distributors within the pet industry.

 

Event Details

When: 5 - 7 May 2025

Where: Bologna, Italy

 

As the pet industry continues its rapid expansion, driven by a growing emphasis on animal welfare and sustainability, Zoomark remains at the forefront of this movement, showcasing cutting-edge products and forging crucial partnerships.

 

BENEFITS FOR APPROVED BUYERS

Approved buyers will enjoy a range of exclusive benefits designed to enhance their experience at Zoomark. These benefits may include:

 

  • Free admission to the event

  • Access to the VIP lounge

  • Prearranged B2B meetings with top Zoomark exhibitors

  • Complimentary lunch at the fair

  • Coverage of airfare

  • Participation in organized activities during the event days

  • Accommodation with B&B treatment

  • Access to affiliated restaurants and facilities

  • Transfer services

 

Please note that the specific benefits provided will depend on the organizers' interest in the applying company, so not all accepted buyers will receive the same benefits.

 

OBLIGATIONS OF BUYERS 

To qualify for these benefits, buyers are required to:

  • Be present during the event days

  • Participate in the scheduled B2B meetings with Zoomark exhibitors

 

For more information and to apply, please complete the attached application form, sign it, and return it to  italy@italcham.co.za.

 

To apply, please download the application form by clicking the button below:​​​

See below the attached the ZOOMARK Brochure:

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job board
 

There is one new job vacancy on the SMILE Job Portal:​​

 

General Manager - Casa Serena Old Age Home

Candidate Attorney- MJD LAW

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You will find where to apply on the above link.

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View this and other job vacancies on the SMILE website via this link - CLICK HERE

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If you are currently hiring, please take a look at SMILE vetted candidates HERE

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Alla prossima!

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