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Study initiated to assess conversion of Kelvin power station from coal to gas

By: Terence Creamer     21st August 2018 A $1.3-million feasibility study has been initiated into the prospect of converting the coal-fired Kelvin power station, east of Johannesburg, into a 450 MW to 600 MW gas-fired power station. The study will also assess the potential for developing the Kelvin site into a gas distribution hub for... 

Study initiated to assess conversion of Kelvin power station from coal to gas
The Kelvin power station

South African govt to release long-term energy plan

By: African News Agency      21st August 2018 Government will release the reviewed Integrated Resource Plan later this week, Energy Minister Jeff Radebe said on Tuesday. Radebe told reporters the energy blueprint would be tabled to Cabinet on Wednesday and made public later in the week, "probably on Friday". 

South African govt to release long-term energy plan
Photo by Dylan Slater
Energy Minister Jeff Radebe

No concrete plans for now to douse high petrol price

By: Kim Cloete     21st August 2018 Energy Minister Jeff Radebe has lamented the sharp rise in the petrol price but has not announced any concrete plans to douse the situation. He says a cluster of Ministers has been seconded to see what government can do to mitigate high petrol prices. He expects the Ministers to report back to... 

South Africa's new coal-fired plants must have emissions technology

By: Reuters     21st August 2018 South Africa's first privately built coal-fired power plants must have the latest technology to reduce harmful emissions, the energy minister said on Tuesday, as a wave of court challenges threaten to derail the projects. Environmental activists have taken legal action against the new Thabametsi... 

Imperial unbundling to be implemented in Q4, says Akoojee

By: Irma Venter     21st August 2018 It is anticipated that the unbundling of the Imperial group will be implemented in the fourth quarter of this calendar year, says Imperial acting CEO Mohammed Akoojee. Speaking at the company’s annual results announcement in Johannesburg on Tuesday, he said Imperial Holdings would be renamed... 

Imperial unbundling to be implemented in Q4, says Akoojee
Mohammed Akoojee

Creditors to vote on Basil Read business rescue plan in September

By: Marleny Arnoldi     21st August 2018 Since JSE-listed Basil Read announced its entering into business rescue in June, it has secured R265-million in funding and its business rescue practitioners (BRP) have, this week, published a business rescue plan. The company’s appointed BRPs – Siviwe Dongwana and John Lightfoot – believe the... 

Construction sector outlook promising following difficult 2017 – Bryte

By: Marleny Arnoldi     21st August 2018 The construction sector in South Africa faced an exceptionally challenging 2017, reaching 17-year lows; however, it remains one of the economic engines of the country. The construction sector holds immense potential for advancement of the country’s general financial wellbeing, says Bryte... 

Construction sector outlook promising following difficult 2017 – Bryte

Poultry group seeks to suspend US import quota

By: Reuters     21st August 2018 The South African Poultry Association (SAPA) has filed a legal action to force the government to suspend a quota that excluded imports of US poultry from South Africa's anti-dumping tariff, a senior official with the association said on Tuesday. The decision by SAPA was a response to the Trump... 

Cell C narrows losses, Ebitda rises in H1

By: Natasha Odendaal     21st August 2018 Mobile operator Cell C has posted a 16% increase in earnings before interest, taxes, depreciation and amortisation (Ebitda) to R2.4-billion, as its net loss after tax narrowed by 33% to R645-million for the first half of this year, from a net loss of R968-million in the comparative period last... 

Sanral bears brunt of lack of government clarity on e-tolls

By: News24Wire      21st August 2018 The South African National Roads Agency (Sanral) has collected R5.6-billion less in e-toll fees than budgeted mostly because there is no clarity from government about the future of the system, Parliament has heard. Briefing the Standing Committee on Appropriations on Tuesday, Treasury’s deputy... 

 Sanral bears brunt of lack of government clarity on e-tolls

Survey finds healthcare workers are uninformed about NHI scheme

By: Anine Kilian     21st August 2018 Nearly half of healthcare workers surveyed by the Solidarity Research Institute (SRI) have said they are not well informed about the proposed National Health Insurance (NHI) scheme. Unpacking key findings of its ‘Healthcare Workers’ Knowledge, Insight and Opinion on the Proposed NHI’ report, in... 

NHI will negatively impact on South Africa’s healthcare systems – Solidarity

By: Anine Kilian     21st August 2018 Trade union Solidarity believes the power of medical services in South Africa will be negatively impacted if government decides to centralise the healthcare system through the National Health Insurance (NHI) Bill. Speaking at a Healthcare Crisis Summit organised by Solidarity, in Pretoria, on... 

Proudly South African launches online shopping site in boost for Buy Local campaign

By: Marleny Arnoldi     21st August 2018 Proudly South African (Proudly SA) and RSA Made on Tuesday launched an online shopping site, www.rsamade.co.za, which sells only locally made items. The site forms part of Proudly SA’s Buy Local advocacy campaign, and looks to grow Proudly SA’s members’ share of the burgeoning market that is... 

AfriForum launches petition against planned CSIR biogas plant

By: Marleny Arnoldi     21st August 2018 AfriForum has launched a petition against the planned new biogas plant that the Council for Scientific and Industrial Research (CSIR) intends to build at its campus, in Pretoria. AfriForum, as well as residents, are concerned that the plant might be unsafe and pollute the area, which borders... 

EESE welcomes imminent BBBEE scheme listings

By: Simone Liedtke     21st August 2018 Equity Express Securities Exchange (EESE) on Tuesday welcomed the planned listings of the MultiChoice and Media24 broad-based black economic empowerment (BBBEE) schemes, Phuthuma Nathi and Welkom Yizani, in October. These listings will include Phuthuma Nathi Investments, Phuthuma Nathi... 

EESE welcomes imminent BBBEE scheme listings
Equity Express Securities Exchange (EESE) CEO Anthony Wilmot

Adcock Ingram expects to report higher FY18 earnings

By: Marleny Arnoldi     21st August 2018 JSE-listed pharmaceutical company Adcock Ingram expects its earnings per share (EPS) from total operations to be increase by between 14.1% and 15.7% to between R3.80 and R3.85 for the financial year ended June 30. This compares with EPS of R3.32 reported for the 2017 financial year.  

Mobile consumer survey reveals industry change

By: Simone Liedtke     21st August 2018 The mobile industry is changing at an exponential rate as new influences shape the way consumer expectations rise and the competition, new and old, pile on advancements such as artificial intelligence, Deloitte’s ‘South Africa Mobile Consumer Survey 2017’ shows. Deloitte global telecoms, media... 

New tech blurring human-machine lines – Gartner

By: Schalk Burger     21st August 2018 Five emerging technology trends will blur the lines between humans and machines, says market research multinational Gartner. Technologies, such as artificial intelligence (AI) for example, play a critical role in enabling companies to be ubiquitous, always available and connected to business... 

China sells diesel to South Africa as refiners seek new export markets

By: Reuters     20th August 2018 State-run oil company Sinopec is selling diesel as far afield as South Africa as China's refiners seek homes for their surplus fuel in the latest sign of troubles in the domestic refining business. Sinopec said on Monday it shipped its first 30 000 t of diesel from its Shanghai refinery heading... 

No land grabs allowed – ANC assures AgriSA

By: Sashnee Moodley     21st August 2018 Agricultural industry association AgriSA said on Tuesday that it welcomed the African National Congress’s (ANC’s) policy commitments regarding agrarian reform and agricultural property with respect to the ongoing debate on the expropriation of land without compensation. AgriSA and representatives... 

No land grabs allowed – ANC assures AgriSA
AgriSA executive director Omri van Zyl

SA looking to Equatorial-Guinea, South-Sudan and Algeria for oil

By: African News Agency      21st August 2018 South Africa is looking to Algeria, Equatorial-Guinea and South Sudan for crude oil sources closer to home as the country experiences its highest fuel prices in history, Energy Minister Jeff Radebe said on Tuesday. "We are looking very aggressively to other countries, Equatorial Guinea, Algeria,... 

 SA looking to Equatorial-Guinea, South-Sudan and Algeria for oil
Energy Minister Jeff Radebe

AgriSA meeting with the ANC "successful"

By: News24Wire      21st August 2018 AgriSA president Dan Kriek met President Cyril Ramaphosa in Cape Town on Tuesday, while the organisation's CEO, Omri van Zyl, held talks with Deputy President David Mabuza in Johannesburg. The meetings were part of two separate consultation processes: Kriek met Ramaphosa as part of the... 

AgriSA meeting with the ANC
AgriSA President Dan Kriek

Set up special tribunal for officials abusing tender system – State capture inquiry witness

By: News24Wire      21st August 2018 The government's procurement system is intentionally not followed in at least 50% of all tenders, chief procurement officer Willie Mathebula told the commission of inquiry into allegations of State capture on Tuesday. Mathebula has proposed a special tribunal to deal with those who transgress and... 

Set up special tribunal for officials abusing tender system – State capture inquiry witness

Rapid Moab integration boosts Harmony Gold’s cash flow 

By: Martin Creamer     21st August 2018 The rapid integration of the Moab Khotsong gold mine into the Harmony Gold group has boosted the company’s overall underground gold grade, lifted production, driven down all-in sustaining unit costs and doubled free cash flow. Harmony acquired the deep-level Moab Khotsong mine from AngloGold... 

Harmony Gold CEO Peter Steenkamp and CFO Frank Abbott present results covered by Mining Weekly Online’s Martin Creamer. Video and Video Editing: Darlene Creamer. Photographs: Dylan Slater.

Treasury slams excess cash on NSFAS books

By: News24Wire      21st August 2018 The National Student Financial Aid Scheme (NSFAS) had R153.8-million more cash left than projected at the end of the 2017/18 financial year, it has emerged. Speaking to Parliament's Standing Committee on Appropriations on Tuesday, Treasury’s deputy director general Dr Mampho Modise explained that... 

 Treasury slams excess cash on NSFAS books

ExecuJet to welcome first Pilatus PC-24 to Africa in Oct

By: Simone Liedtke     21st August 2018 Aviation company ExecuJet, which is part of the Luxaviation group, will, in October, become the first business aviation company to operate and manage a Pilatus PC-24 Super Versatile Jet in Africa. With the aircraft to be based at the Cape Town International Airport, ExecuJet will be responsible... 

ExecuJet to welcome first Pilatus PC-24 to Africa in Oct
The Pilatus PC-24 Super Versatile Jet

Russia to sign military cooperation accord with Central Africa Republic – Ifax

By: Reuters     21st August 2018 Russia and the Central African Republic will sign an agreement on military cooperation on Tuesday, Russian Defence Minister Sergei Shoigu was quoted by Interfax news agency as saying. Russia this year delivered light arms to the Central African Republic's security forces and said it deployed 175... 

Fear rules Sars, Nugent inquiry hears

By: News24Wire      21st August 2018 A climate of fear has engulfed the South African Revenue Service (Sars) to the point that some staff members are afraid to come forward to give evidence to the Nugent Commission, which is probing tax administration and governance issues at the revenue service. This revelation came out at the... 

 Fear rules Sars, Nugent inquiry hears

Land Bank says land expropriation could trigger default

By: Reuters     21st August 2018 South Africa's State-owned Land Bank said on Monday a plan to allow the State to seize land without compensation could trigger defaults that could cost the government R41-billion rand if the bank's rights as a creditor are not protected. Land Bank is a specialist bank providing financial services... 

 Land Bank says land expropriation could trigger default

Harmony enters 1.5m oz gold production realm

By: Martin Creamer     21st August 2018 The growth aspiration of Harmony Gold to produce at a rate of 1.5-million ounces of gold a year is within a hair’s breadth of becoming a foregone conclusion as production at Hidden Valley in Papua New Guinea and Moab Khotsong in South Africa click in optimally during the current financial year.... 

Harmony enters 1.5m oz gold production realm
Photo by Creamer Media
Harmony Gold CEO Peter Steenkamp

Turkey initiates WTO dispute complaint over additional US tariffs

By: Reuters     21st August 2018 Turkey has initiated a dispute complaint with the World Trade Organisation (WTO) against additional tariffs imposed by the US on Turkish steel and aluminium imports, the WTO said on Monday. The move was previously flagged by Turkish officials and comes after President Donald Trump this month said... 

Amendment of Constitution will accelerate land reform – Ramaphosa

By: News24Wire      21st August 2018 President Cyril Ramaphosa has said that the interpretation of section 25 of the Constitution which relates to land expropriation must be made explicitly clear to enable the speeding up of land reform processes. Giving the keynote address at the African Farmers' Association of South Africa's... 

Amendment of Constitution will accelerate land reform – Ramaphosa
President Cyril Ramaphosa

Mint Directors Conference to reach South African shores in 2020

By: Simone Liedtke     20th August 2018 The biennial Mint Directors Conference (MDC) will return to South African shores in 2020, says South African Reserve Bank (SARB) subsidiary, the South African (SA) Mint. The event, which is expected to attract more than 300 guests, will be held in both Cape Town and Pretoria, in April 2020. 

Mint Directors Conference to reach South African shores in 2020
The baton was passed on to the South African Mint by the Korea Minting and Security Printing & ID Card Operating Corporation (Komsco), which hosted the conference this year in Seoul

AngloGold moves to avoid 2 000 job losses in South Africa region

By: Martin Creamer     20th August 2018 The once overwhelmingly dominant South Africa segment of gold mining company AngloGold Ashanti has been reduced to a mere loss-making shadow of its former self. In the six months to June 30, South Africa produced a mere 10% of the company’s gold unprofitably. 

AngloGold moves to avoid 2 000 job losses in South Africa region

Sasol FY18 headline earnings fall 22%

By: Anine Kilian     20th August 2018 Integrated chemicals and energy company Sasol on Monday reported a 22% year-on-year decrease in its headline earnings a share to R27.44 for the financial year ended June 30. Speaking at a presentation of the group’s results on Wednesday, joint president and CEO Bongani Nqwababa said core headline... 

Only 6% of Joburg bridges are in good condition – JRA

By: News24Wire      20th August 2018 The City of Johannesburg says it is facing a major headache, after the Johannesburg Roads Agency (JRA) said that out of the 902 bridges managed by the City, only 6% are in good condition. The remaining 94% need immediate intervention. "The city is facing a R170-billion infrastructure backlog. Do... 

Only 6% of Joburg bridges are in good condition – JRA

Transnet results eclipsed by irregular expenditure, qualified audit and State capture

By: Terence Creamer     20th August 2018 A surge in irregular expenditure to over R8-billion triggered a qualification of Transnet’s 2018 financial results, all but eclipsing an otherwise strong financial and operational performance by the State-owned group. The irregular expenditure related primarily to procurement undertaken by... 

Transnet results eclipsed by irregular expenditure, qualified audit and State capture

Finance ministers fired by Zuma to testify at State capture inquiry

By: News24Wire      20th August 2018 Two of the finance ministers who Jacob Zuma fired during his time as South Africa's president are expected to testify at the State capture commission of inquiry. Head of legal services, Paul Pretorius SC, told the commission that current Public Enterprises Minister Pravin Gordhan and current... 

Finance ministers fired by Zuma to testify at State capture inquiry
Finance Minister Nhlanhla Nene

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