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Nersa to host hearings into R66.6bn Eskom claw-back applications in May

By: Terence Creamer     Updated 6 hours ago The National Energy Regulator of South Africa (Nersa) will hold public hearings across all of South Africa’s nine provinces between May 7 and May 25 to consider three revenue claw-back applications, collectively valued at R66.6-billion, submitted by cash-strapped power utility Eskom. The... 

Nersa to host hearings into R66.6bn Eskom claw-back applications in May

Sasol says higher oil price, if sustained, bodes well for H2

By: Terence Creamer     23rd January 2018 Chemicals and energy group Sasol indicated on Tuesday that its second-half results would be positively affected should the recent rise in oil prices to levels approaching $70/bbl be sustained for the remainder of its financial year, which runs to June 30. In a trading statement for the six months... 

Sasol says higher oil price, if sustained, bodes well for H2

Brown hints Transnet board could be 'rotated'

By: African News Agency      23rd January 2018 Public Enterprises Minister Lynne Brown on Tuesday suggested board members of Transnet, South Africa's State-owned freight and logistics company, could be "rotated" should they not guard the integrity of the entity. Brown was speaking in a meeting of Parliament's standing committee on public... 

Brown hints Transnet board could be 'rotated'
Photo by Duane Daws
Public Enterprises Minister Lynne Brown

Infrastructure development a key driver of South African economy – Patel

By: African News Agency      23rd January 2018 Infrastructure development is a key driver of South Africa's growth prospects, with rail and water infrastructure focal areas. This is according to Economic Development Minister Ebrahim Patel, who is in Davos for the World Economic Forum (WEF), as part of the South African delegation looking to... 

Infrastructure development a key driver of South African economy – Patel

Fractured, complex world presents growth opportunities for South Africa

By: African News Agency      23rd January 2018 The fractured state of the world is an opportunity for South Africa to exploit if it can show a compelling growth story. This is according to Economic Development Minister Ebrahim Patel, who is in Davos for the World Economic Forum (WEF), as part of the South African delegation looking to... 

Fractured, complex world presents growth opportunities for South Africa
Photo by Duane Daws
Economic Development Minister Ebrahim Patel

Tech revolution will see 'serious winners and losers', warns Davies

By: African News Agency      Updated 7 hours ago There will be "serious winners and losers" as a result of the Fourth Industrial Revolution and South Africa needs to be properly prepared and positioned to reap the benefits, or be saddled with the negative consequences. This was according to Trade and Industry Minister Dr Rob Davies who said... 

I can start State capture inquiry as soon as Zuma gives me terms of reference – Judge Zondo

By: News24Wire      Updated 6 hours ago Deputy Chief Justice Raymond Zondo, who will chair the commission of inquiry into allegations of State capture, says he is ready to get going, but still needs to receive the terms of reference from President Jacob Zuma. During a press briefing in Midrand on Tuesday, Justice Zondo told reporters... 

Thakadu’s nickel plant secures R50m black industrialist grant

By: Martin Creamer     23rd January 2018 Innovative metals and energy company Thakadu Battery Materials has secured a R50-million black industrialist grant from South Africa’s Department of Trade and Industry (DTI) for the construction of its pure nickel sulphate plant in North West province, which will make use of platinum producer... 

Thakadu’s nickel plant secures R50m black industrialist grant
Thakadu CEO Ruli Diseko

Kropz eyeing first ore through phosphates plant this year

By: Martin Creamer     Updated 7 hours ago Explorer, developer and miner of plant nutrient minerals Kropz, which has invested $120-million in its 95% complete Western Cape processing facility, is finalising plant design and mulling capital raising to take the Elandsfonten phosphates project to the next level, Kropz CEO-designate Ian... 

Kropz eyeing first ore through phosphates plant this year
Photo by Duane Daws
Kropz CEO-designate Ian Harebottle

Mminele receives Germany's highest tribute

By: African News Agency      23rd January 2018 South African Reserve Bank Deputy Governor Daniel Mminele has been bestowed the Great Order of Merit by German President Frank-Walter Steinmeier for his work in furthering German-South African relations. German Ambassador Martin Schäfer is to hand over Germany's highest tribute to Mminele on... 

Mminele receives Germany's highest tribute
Photo by Bloomberg
Reserve Bank Deputy Governor Daniel Mminele

CompCom suspends advisory opinion services pending outcome of court case

By: Megan van Wyngaardt     Updated 7 hours ago The Competition Commission has suspended its advisory opinion services pending the finalisation of the case against Hosken Consolidated Investments (HCI). This follows a Competition Appeal Court (CAC) judgment ruling against the regulator on the matter. In August last year, HCI request the... 

MEIBC changes welcome, but should take employer into consideration

By: Megan van Wyngaardt     23rd January 2018 Although the Metal and Engineering Industries Bargaining Council (MEIBC) main agreement negotiation process, that took place from June to August last year, was riddled with technical issues and procedural hurdles, the extension to all nonparty employers and employees falling within the scope of... 

Urgent need to recycle, reuse natural resources – report

By: Natasha Odendaal     23rd January 2018 A new global circularity metric unveiled in Davos, Switzerland, has revealed an urgent need to use the world’s resources more efficiently and create policies and economic infrastructure that encourages the recycling and reuse of natural resources. The Circle Economy’s first ‘Circularity Gap’... 

Enterprises increasingly looking to machine learning – Deloitte

By: Natasha Odendaal     Updated 7 hours ago Deloitte’s yearly ‘Technology, Media and Telecommunications (TMT) Predictions’ report has forecasted major strides in machine learning for enterprises this year. The report predicted a doubling of the number of enterprise machine learning pilots and deployments this year and, subsequently, the... 

SAB to quench Capetonians' thirst – but with a different drink

By: News24Wire      23rd January 2018 South African Breweries (SAB) will be helping Capetonians struggling through the drought crisis by shipping out 12-million quarts of a drink not usually associated with the company. SAB general manager John Stenslund confirmed that 9-million litres of water – bottled in 12-million quarts – would... 

Nigeria's Oando and key shareholder settle long-running dispute

By: Reuters     23rd January 2018 Nigerian oil company Oando said on Monday it had settled a squabble with a key shareholder and was working on resolving remaining shareholder disputes and getting a suspension of its shares lifted. The company said it has addressed issues raised by Dahiru Mangal, ending a drawn-out conflict, and... 

Eyeing China, US moves to strengthen Indonesian defence ties

By: Reuters     Updated 7 hours ago US Defense Secretary Jim Mattis said on Monday he would explore deepening defence ties during a visit to Indonesia, a country that appears increasingly ready to assert its sovereignty in the contested South China Sea. Mattis, ahead of talks in Jakarta, raised the possibility of greater maritime... 

MPs threaten Transnet board, executives with jail for no show at Parliament

By: African News Agency      23rd January 2018 MPs on Tuesday read board members and executives of South Africa's State-owned freight and logistics company, Transnet, the riot act for failing to show up at a meeting of Parliament's standing committee on public accounts last year. The board members and executives failed to show up at the... 

MPs threaten Transnet board, executives with jail for no show at Parliament

Jaguar Land Rover to cut output due to Brexit, diesel uncertainty to hit sales

By: Reuters     23rd January 2018 Britain's biggest carmaker Jaguar Land Rover will temporarily reduce production at its northern English car plant in Halewood later this year in response to weakening demand due to Brexit and tax hikes on diesel cars. Jaguar Land Rover's sales in Britain and Europe were flat in 2017 and it... 

Deputy Chief Justice Zondo to hold briefing on State capture inquiry

By: News24Wire      23rd January 2018 Deputy Chief Justice Raymond Zondo is expected to reveal further details of the commission of inquiry into allegations of State capture at a briefing in Midrand on Tuesday as the State takes steps against some of the people implicated in the claims. On January 9 this year President Jacob Zuma... 

Deputy Chief Justice Zondo to hold briefing on State capture inquiry

Suspended Eskom CFO resigns

By: African News Agency      23rd January 2018 Suspended Eskom chief financial officer (CFO), Anoj Singh, resigned on Monday, South Africa's power utility said. "Eskom has today [on Monday] received, through Mr Anoj Singh’s attorneys, a formal letter of resignation by Mr Singh from his position as the Chief Financial Officer, in line with the... 

Suspended Eskom CFO resigns
Photo by Duane Daws
Former Eskom CFO Anoj Singh

Keeping up with the Russians: head of UK army wants more money

By: Reuters     22nd January 2018 Britain must ensure its armed forces can keep up with adversaries like Russia, which already has military capabilities the United Kingdom would struggle to match, according to the head of the British army. The comments from Chief of the General Staff Nick Carter, due to be delivered in a speech... 

Japan steel federation: China steel output under control despite record 2017

By: Reuters     22nd January 2018 Japan Iron and Steel Federation chairman Kosei Shindo said on Monday China's steel output remains under control despite record output from the world's top producer in 2017, citing abolition of illegal Chinese steel production and solid local demand. Shindo, who is also president of Nippon Steel &... 

IMF cuts South Africa's growth forecast for next two years

By: Reuters     22nd January 2018 The International Monetary Fund cut South Africa's economic growth forecast for the next two years on Monday, citing rising political uncertainty that has dented investor confidence. The IMF said in its World Economic Outlook that more subdued growth prospects were projected in South Africa,... 

IMF cuts South Africa's growth forecast for next two years

Wine industry sees positives despite expected R700m shortfall

By: Megan van Wyngaardt     22nd January 2018 The smaller wine grape harvest anticipated by industry body Vinpro for this year is expected to result in a R700-million shortfall at farm gate, at a time when production costs have doubled in the past decade and the minimum wage for farm workers is set to increase by 17% in May. However, despite... 

Wine industry sees positives despite expected R700m shortfall

Stenprop appoints broker to assist with London listing

By: Megan van Wyngaardt     22nd January 2018 To assist in implementing its proposed LSE listing, JSE-listed Stenprop has appointed Numis Securities to act as its broker. Numis Securities will be acting as financial adviser on the proposed move from the Bermuda Stock Exchange to the SFS of the LSE. 

World’s richest 1% held 82% of global wealth in 2017 – Oxfam

By: Anine Kilian     22nd January 2018 Eighty two per cent of the wealth generated in 2017 went to the richest 1% of the global population, while the 3.7-billion people who make up the poorest half of the world saw no increase in their wealth. A new report, entitled ‘Reward Work, No Wealth’, released by charity organisation Oxfam, on... 

Industry confident Eskom board changes will help save utility

By: Megan van Wyngaardt     22nd January 2018 The appointment of a new Eskom board with “credibility, business acumen and experience” has given South African businesses hope that the embattled State-owned entity (SOE) can be salvaged, with a number of organisations lauding Deputy President Cyril Ramaphosa for taking a step in the right... 

Industry confident Eskom board changes will help save utility

Botswana to spend $495m to extend power grid to northwest

By: Reuters     22nd January 2018 The Botswana Power Corporation (BPC) on Monday launched a P4.8-billion ($495-million) project to build an electricity transmission line to connect the northwest of the country, a centre of copper mining and tourism, to the national grid. Domestic consumers in the region currently rely on imports... 

Resilient Lonmin delivers sturdy output, extracts cash from tailings

By: Martin Creamer     22nd January 2018 Embattled but resilient platinum company Lonmin, which is enthusiastically embracing the Sibanye-Stillwater’s offer made to it, did all its stakeholders proud in the fatality-free first quarter of its new financial year by putting in a sturdy operational performance that saw sales rise 9%,... 

Resilient Lonmin delivers sturdy output, extracts cash from tailings
Lonmin CEO Ben Magara

New Eskom board will provide 'comfort' to markets – Phasiwe

By: News24Wire      22nd January 2018 The newly appointed Eskom board will provide the reassurance markets have been seeking around issues of corporate governance at the power utility, said spokesperson Khulu Phasiwe. Speaking to Fin24 by phone on Monday, Phasiwe explained Eskom and Treasury would be approaching financial... 

Lehohla joins 22 on Sloane

By: Natasha Odendaal     22nd January 2018 Former Statistician-General Dr Pali Lehohla has joined 22 on Sloane as a research resident adviser, effective March 1. Following a 17-year career as Statistician-General of Statistics South Africa, Lehohla will settle into his new role of training, guiding and mentoring the team of researchers... 

Festive season road death toll decreases 11% to 1 527

By: News24Wire      22nd January 2018 The death toll over the 2017/2018 festive season decreased to 1 527, an 11% drop from the previous year. Transport Minister Joe Maswanganyi released the statistics on Monday morning in Pretoria. 

Festive season road death toll decreases 11% to 1 527
Transport Minister Joe Maswanganyi

Toyota Gazoo Racing SA takes second and third at Dakar 2018

By: Irma Venter     22nd January 2018 Two days of high drama in the 2018 Dakar Rally saw Toyota Gazoo Racing South Africa (TGRSA) take second and third spot in the marathon South American race. The race, which concluded on the weekend, was won by Peugeot’s Carlos Sainz and co-driver Lucas Cruz, with TGRSA’s Nasser Al Attiyah and... 

Toyota Gazoo Racing SA takes second and third at Dakar 2018
Giniel de Villiers

Ethiopia leader rejects call for World Bank arbitration in dam dispute

By: Reuters     22nd January 2018 Ethiopia's Prime Minister Hailemariam Desalegn has rejected a call by Egypt for World Bank arbitration in a dispute over a hydroelectric dam Addis Ababa is building along its share of the Nile. The two countries are at odds over the construction of the Grand Ethiopian Renaissance Dam, with Cairo... 

Wits University launches technology innovation programme

By: African News Agency      22nd January 2018 Wits Univesity says it has launched a digital innovation programme to help local technology start-ups grow. The project, part of local firms BCX and Telkom's innovation programme, is targeted towards digital business working in fields like agriculture, smart cities, safety and security, education... 

Saudi energy minister: oil producers have consensus on cooperating after 2018

By: Reuters     22nd January 2018 Organisation of Petroleum Exporting Countries (Opec) and non-Opec oil producers have a consensus that they should continue cooperating on production after the end of 2018, when their current agreement on production cuts expires, Saudi Arabian energy minister Khalid al-Falih said on Sunday. If oil... 

Magufuli bans registration of foreign ships in Tanzania, orders probe

By: Reuters     22nd January 2018 Tanzanian President John Magufuli on Friday put a temporary ban on the registration of foreign ships in the country and ordered over 400 vessels to be investigated for allegations of involvement in criminal activity. The ban came after at least five foreign-owned ships flying Tanzania's flag were... 

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