A business delegation from the Samarkand region of Uzbekistan arrived at the Grodnoinvest Free Economic Zone (FEZ) in Belarus on July 29, 2026. The purpose of the visit was to study the investment, industrial, and trade-economic potential of the zone, as well as to establish direct contact with enterprises located there, according to information from Grodnoinvest FEZ.
During the business meeting at the administration of Grodnoinvest FEZ, Deputy Head of the Administration Olga Sventitskaya presented various business opportunities available in the zone to Uzbek entrepreneurs, as well as information about the Avgustovsky Canal Special Tourist and Recreational Park. The event brought together local enterprises of Grodnoinvest FEZ and companies from the Grodno region.
Participants discussed business conditions, promising directions for joint work, and opportunities to expand partnerships between companies from the Grodno and Samarkand regions.
As part of the trip, representatives of the Uzbek delegation held working meetings with JSC 'Management Company of the Holding 'GrodnoObselkhoztehnika'' and JSC 'Management Company of the Holding 'Grodnomyasoprom''. Representatives of these companies provided guests with information about their production capacities, product range, and export potential.
Following the meetings, bilateral (B2B) negotiations took place, focusing on determining specific ways of interaction and increasing mutual trade turnover. A presentation of meat and dairy enterprises' products was also organized for the participants.
The administration of Grodnoinvest FEZ continues to strengthen cooperation with the regions of Uzbekistan. Previously, a business delegation from the Andzhan region also visited the zone, after which the administration of Grodnoinvest FEZ signed a cooperation agreement with the Andzhan Region Hokimiyat during the III Forum of Regions of Belarus and Uzbekistan.
Hyundai Motor India Limited is preparing to introduce two new vehicles to the market. Both of these vehicles are planned to be launched for sale in the current fiscal year to capitalize on the holiday season. The company aims to strengthen its SUV portfolio and also enter the electric vehicle market with a new product.
The reason for the appearance of two new models is the expansion of the range. The first model will be a mid-size Internal Combustion Engine (ICE) SUV, which will reach the market sooner. Subsequently, the company will introduce an electric vehicle that will occupy the Venue segment and will be built on a different architecture than the existing Venue model. This electric vehicle is also scheduled for release in the current fiscal year.
The mid-size SUV segment is very important for Hyundai. Since the launch of the new Creta is not yet expected, the company is trying to strengthen its position in this segment with a new product. Here, Hyundai can compete with Maruti Suzuki, which offers models such as Grand Vitara and Victoris in the same segment, and Hyundai will sell its new mid-size SUV alongside the Creta.
Furthermore, Hyundai will enter the fast-growing sub-4-meter electric vehicle segment with its new EV. Both new cars will be manufactured at the Hyundai plant in Chennai. Previously, it was assumed that the company would release a small SUV, but according to recent reports, the target segment is the Victoris segment.
The brand may launch an SUV in this segment that will be available with a CNG option. This is particularly important because Hyundai currently offers CNG only in entry-level models (Grand i10 Nios, Aura, and Exter). Nevertheless, the company plans to bring six CNG models to the market by 2030.
There is a speculation that the upcoming Hyundai SUV may be based on the global Hyundai Bayon model. However, it might fit into the Maruti Suzuki Victoris segment in terms of size. With this vehicle, Hyundai intends to target budget-conscious users, although the company has not confirmed this information yet.
A new collaboration between the African Development Bank (AfDB) and Standard Bank will provide billions in additional funding for small and medium enterprises (SMEs), while also supporting women entrepreneurs through technical assistance and digital financial tools.
South African SMEs will benefit from a R5.4 billion financing package after the African Development Bank and Standard Bank Group concluded a significant deal aimed at expanding access to business finance and promoting inclusive economic growth.
The African Development Bank invested $332 million, equivalent to approximately R5.4 billion, in a capital market security issued by Standard Bank Group. These funds will be directed towards financing SMEs across South Africa, including women-led businesses that continue to face significant hurdles in securing finance.
This deal also marks the first social Flac instrument in Africa supported by a development finance institution that has been listed on the Johannesburg Stock Exchange. In addition to these investments, the African Development Bank's Affirmative Finance Action for Women in Africa program will provide a $1 million technical assistance grant through the WeFi window to help women entrepreneurs overcome financial difficulties.
The support will include digital payment tools to help businesses build verifiable credit histories, as well as enterprise and supplier development programs. Kennedy Mbekeani, CEO of the African Development Bank for South Africa and Country Manager in South Africa, stated that this transaction will strengthen both the country's financial sector and the small business ecosystem.
Mbekeani noted: 'These investments reflect the African Development Bank's commitment to strengthening Africa's financial architecture while directing long-term capital where it is needed most—to small businesses and entrepreneurs in South Africa.' He added: 'Our partnership with Standard Bank Group helps us simultaneously build a more resilient banking system and support SMEs that drive employment and inclusive growth.'
The instrument is structured as Flac, a new debt category introduced by the South African Reserve Bank in January of this year as part of the phased implementation of the bank resolution framework. Standard Bank committed to allocating the full R5.4 billion to SMEs, including women-owned businesses, recognizing the persistent gender financing gap in South Africa's small business sector.
Luvuyo Masinda, Chief Executive Officer for Corporate and Investment Banking at Standard Bank Group, called the agreement another important step in the bank's partnership with the African Development Bank. Bill Blake, Chief Executive Officer for Commercial and Business Banking at Standard Bank Group, participated in closing the deal alongside Kennedy Mbekeani and Luvuyo Masinda.
Masinda stated: 'We are pleased to close another landmark agreement with AfDB following successful deals in 2024. This issuance of social Flac allows the group to realize its mission: Africa is our home, we contribute to its growth.' He emphasized that SMEs are a vital engine for economic growth and job creation, forming the backbone of the South African economy, where about 3.2 million SMEs provide 60% of jobs, making support and access to finance for these businesses paramount to overall growth objectives.
Bill Blake, CEO for Commercial and Business Banking at Standard Bank, said the additional funding will enhance the bank's ability to support entrepreneurs and create new opportunities for women-owned businesses. He noted: 'We see firsthand the critical role that SMEs play in driving prosperity and job creation. This deal, along with our partnership with AfDB, strengthens our capacity to support the businesses underpinning inclusive economic growth.' Blake also expressed enthusiasm for the technical assistance grant, which will fund key initiatives providing direct, tangible benefits to women's SMEs, supporting their drive to start, manage, and develop sustainable businesses.
Ahmed Attout, Director of Financial Sector Development at the African Development Bank, suggested that this transaction will promote the wider adoption of best international banking practices across Africa. Attout stated: 'This transaction is designed as a catalyst encouraging broader adoption of international best practices in the banking sector across the African continent.'
The latest agreement continues the long-standing partnership between the African Development Bank and Standard Bank, which began in 2008. It follows the Bank's approval of a R3.6 billion subordinated debt facility for Standard Bank Group in November 2024, as well as a $200 million risk-sharing agreement to support trade finance across Africa. By the end of 2025, Standard Bank had fully utilized the previously provided credit, supporting 5,425 SMEs and exceeding the initial target of 4,000 enterprises, with financing directed towards businesses operating in agriculture, retail, wholesale, and manufacturing.
President Cyril Ramaphosa gave his consent to the report prepared by the Eskom restructuring working group. This report outlines the mechanism for creating a fully independent Transmission System Operator (TSO) that will own and control South Africa's transmission assets and manage the electricity market.
The Presidency stated on Friday that 'the TSO is a key factor for a successful competitive wholesale electricity market, which is expected to provide reliable and cost-effective energy supply.' The working group determined that the restructuring is feasible, aligns with international best practices, and can be achieved without compromising Eskom's financial sustainability.
The timeline for this process is limited. The Electricity Regulation Act with amendments requires the TSO to be established no later than December 31, 2029. Until that date, its functions are performed by the National Transmission Company of South Africa (NTCSA)—an Eskom subsidiary established in July 2024. NTCSA represents the current state, while the TSO is the independent entity it must become.
Eskom board directors will not be appointed to the NTCSA board, and no one will hold positions in both entities simultaneously. Decisions regarding access to the transmission network transfer to NTCSA, and subsequently to the TSO.
This recent move caused controversy. As early as December 9, Energy Minister Kgosiyenso Ramokgopa approved a revised plan for Eskom's split, under which NTCSA would remain a wholly-owned Eskom Holdings subsidiary and retain ownership of transmission assets, while the new TSO would operate outside Eskom as the system and market operator, central procurement agent, and ancillary service provider. In this scenario, the network would remain within the group.
Ramaphosa's address at the national conference in February changed this position, announcing the creation of a working group and confirming support for a TSO that owns the assets directly. Business viewed the December plan as a retreat from the agreed Operation Vulindlela stance, and Friday's approval definitively resolved the issue in favour of full separation. The working group's mandate explicitly states that ownership of the transmission network is separated from Eskom.
The working group was formed in early March, chaired by National Treasury CEO Duncan Peters, with participation from the Presidency, Treasury, Department of Energy, Eskom, and NTCSA. It was given three months, until the end of May, to prepare a high-level report. Ramaphosa extended this deadline to the end of June. The report was submitted on July 30 and approved the following day—two months past the initial deadline and one month after the extension.
Phase 2, which deals with developing the detailed transaction structure and implementation plan, is scheduled for the next three months: the same period allocated to Phase 1, which was exceeded. The delay drew attention. The Business Leadership South Africa indicator fell quarter-on-quarter for the first time in its history in the fourth quarter from April to June, and the electricity indicator dropped by 2.2%. BLSA called the transmission operator delays 'concerning,' warning that without them, 'a competitive market becomes impossible.'
Two conditions in the terms of reference will determine the feasibility of the reform: first, Eskom must not be in a worse financial position after the restructuring, provided the TSO itself is financially sustainable. This principle is under close scrutiny, given that Eskom receives support from a state debt write-off package, and rating agencies note risks during the separation process. The main challenge is separating the utility from its transmission assets without weakening it or shifting costs to tariffs or the state budget.
The second condition relates to municipal debt. The working group pointed to the rise in overdue municipal debt to Eskom, exceeding 114 billion rand, as a threat to the utility and the entire sector. Among the measures that need strengthening, stricter credit control, the implementation of smart meters, and agreements with distribution agents were named.
The reform has an opportunity cost while it is pending. Eskom holds 6.97 GW in cold reserve due to excess capacity, which accounts for approximately a quarter of the peak load of 28.72 GW recorded the week before July 23. This surplus allowed for the cessation of power cuts, but it came with aggressive curtailment of independent renewable energy generation, leading to compensation payments of 2 billion rand and some producers facing revenue losses of about 9%. The competitive market intended to be provided by the TSO is precisely the mechanism that will allow this energy to find application.
Ramaphosa noted that the report demonstrated 'how the government can ensure the change in the energy sector architecture as it continues to evolve,' adding that 'it is welcomed that all key stakeholders agree on this goal.'
