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Phosa says South Africa should be ‘plotting’ a credible economic strategy 

By: Terence Creamer     Updated 6 hours ago Former African National Congress (ANC) treasurer-general Mathews Phosa made a forthright appeal on Thursday for the creation and implementation of a credible economic strategy, centred on growth and job creation, rather than “vague, ill-timed, conflicting and populist” policies. Speaking at the... 

Former African National Congress (ANC) treasurer-general Mathews Phosa on the need for a credible economic strategy, centred on growth and job creation, rather than 'vague, ill-timed, conflicting and populist policies. Camera Work & Editing: Nicholas Boyd.

Ramaphosa to unveil economic stimulus package on Friday

By: News24Wire      20th September 2018 President Cyril Ramaphosa will unveil a stimulus package that he hopes will kick-start South Africa’s lagging economy on Friday morning.  Cabinet has signed off on the measures, which they hope will reignite economic growth, said Minister of Communications Nomvula Mokonyane on Thursday morning. 

Ramaphosa to unveil economic stimulus package on Friday
President Cyril Ramaphosa

SARB keeps repo rate unchanged at 6.5%

By: News24Wire      Updated 3 hours ago The South African Reserve Bank announced on Thursday afternoon that it will keep the repo rate unchanged at 6.5%.  The announcement was made by the central bank's governor Lesetja Kganyago at a media briefing in Pretoria.  

SARB keeps repo rate unchanged at 6.5%
Photo by Reuters
SARB governor Lesetja Kganyago

Saudi Arabia offers opportunities to South African defence industry

By: Rebecca Campbell     20th September 2018 State-owned Saudi Arabian Military Industries (SAMI) is seeking very close relationships with South African defence companies. "We are ready to invest in the South African defence industry and fund local research and development (R&D)," SAMI CEO Dr Andreas Schwer told Engineering News Online at... 

Saudi Arabia offers opportunities to South African defence industry
Photo by Dylan Slater
SAMI CEO Dr Andreas Schwer

Aerosud announces new initiative in its growth strategy

By: Rebecca Campbell     Updated 6 hours ago South Africa's largest commercial aerospace manufacturing company, Aerosud Aviation, announced at the Africa Aerospace and Defence exhibition on Thursday that it was offering its business solutions capabilities to other companies. This formed part of the company's new Growth Strategy, stated... 

Sanral awards R1.65bn Msikaba megabridge contract to Concor Mota-Engil JV

By: Marleny Arnoldi     Updated 3 hours ago The South African National Roads Agency Limited (Sanral) has awarded the Concor Mota-Engil joint venture (JV) the second of two megabridge construction contracts as part of the N2 Wild Coast project. The R1.65-billion bridge will be built near Lusikisiki over the Msikaba gorge.  

Sanral awards R1.65bn Msikaba megabridge contract to Concor Mota-Engil JV
Artist impression of Msikaba bridge

Positive performance, outlook for construction industry

By: Tasneem Bulbulia     Updated 2 hours 37 minutes ago There has been a very good increase in the value of buildings completed in larger municipalities during the second quarter of this year, to the tune of almost 7%, which presents a recovery from the sluggish growth of the first quarter of the year, the latest Afrimat Construction Index (ACI)... 

Life After Coal continues fight against coal-fired IPP projects

By: Marleny Arnoldi     Updated 4 hours ago The Life After Coal Campaign contends that two proposed independent power producer (IPP) coal-fired power stations will never be built. The organisation is opposed to the construction of the proposed 557 MW Thabametsi project, near Lephalale, in Limpopo, and the proposed 306 MW Khanyisa project... 

Greater demand for transparency needed in African real estate industry

By: Simone Liedtke     Updated 2 hours 11 minutes ago There is a growing acknowledgement of the central role that a transparent real estate sector plays in providing healthy, productive and competitive environments for communities and businesses, investment management company JLL global research head Jeremy Kelly said on Thursday. Market... 

MTN shares rise after Nigeria says reviewing information to resolve $8.1bn dispute

By: Reuters     Updated 6 hours ago Shares in South Africa's MTN rose 5% on Thursday, after Nigeria's central bank said on Wednesday that it was reviewing information provided by the telecoms firm and four banks over a dispute on the repatriation of dividends. "The statement suggests there are some talks going on and the market... 

DST bolsters biomass industry with new consortium

By: Marleny Arnoldi     Updated 6 hours ago The Department of Science and Technology (DST) has established a biorefinery research consortium (BRC) to create new value chains from waste biomass. The consortium is a partnership between the Council for Scientific and Industrial Research (CSIR), the Tshwane University of Technology, the... 

African Rainbow Capital to acquire 25% of Moloto Capital Investments

By: Marleny Arnoldi     Updated 6 hours ago Investment holding company African Rainbow Capital (ARC) Investments has subscribed for a 25%interest in black-owned and women-controlled investment company Moloto Capital Investments, which is focused on driving empowerment in the industrial and manufacturing sectors in the country. The... 

African enviro Ministers commit to increasing conservation efforts

By: Marleny Arnoldi     Updated 6 hours ago In a Ministerial declaration issued on Thursday at the closing of the African Ministerial Conference on the Environment, African governments agreed to enhance innovative solutions and build human capital to achieve sustainable development in Africa around the environment. “The environment is... 

Coca-Cola moving ahead with takeover of Nigeria's Chi juice

By: Reuters     Updated 6 hours ago Coca-Cola is moving ahead with plans to take over Nigeria's leading juice company Chi and aims to complete the deal early next year, a senior executive told Reuters. The acquisition for an undisclosed price is one of several steps the US company is taking in a global strategy to diversify from... 

Minergy lauds Botswana regulatory authorities

By: Martin Creamer     Updated 2 hours 27 minutes ago Minergy CEO Andre Bojé is full of praise for Botswana’s regulatory authorities, who he says use legislation to assist mining investment. Minergy, which is listed on the Botswana Stock Exchange, has begun work on its maiden 390-million-tonne Masama, located in the Mmamabula coalfield, 50 km north... 

Minergy lauds Botswana regulatory authorities
Minergy CEO Andre Bojé

Cabinet approves new Mining Charter

By: Reuters     20th September 2018 The South African Cabinet has approved the latest version of the long-delayed mining charter which lay outs requirements for black ownership levels and other targets, a cabinet minister said on Thursday. Communications Minister Nomvula Mokonyane told reporters that more details about the charter... 

Cabinet approves new Mining Charter

Vodacom showcases 5G capabilities in official launch 

20th September 2018 Vodacom has officially launched its standards-based, commercial fifth-generation, or 5G, service in Lesotho, delivering early access technology initially to two enterprise customers, with ambitions of eventually launching the service commercially in South Africa. Natasha Odendaal tells us more. 

Vodacom showcases 5G capabilities in official launch

Interest rates likely to stay unchanged as economy struggles

By: African News Agency      20th September 2018 South Africa's central bank is likely to keep interest rates unchanged on Thursday despite inflationary pressures stemming largely from a weaker rand, hamstrung mostly by concerns over the ailing economy. The economy slipped into a recession after gross domestic product contracted by 0.7 percent... 

Interest rates likely to stay unchanged as economy struggles

Poor internal coordination in SA cities adding to cost of doing business

By: Terence Creamer     19th September 2018 A new World Bank report highlights how a lack of internal coordination between departments within several of South Africa’s largest cities is undermining the delivery of services to businesses operating within those locations and burdening entrepreneurs with timing consuming and costly red tape.... 

Poor internal coordination in SA cities adding to cost of doing business

PSV brings on board two key partnerships to drive strategy going forward

By: Marleny Arnoldi     19th September 2018 AltX-listed industrial holding company PSV Holdings has finalised an equity transaction with Regis Holdings and concluded a broad-based black economic empowerment (BBBEE) partnership with Beryl Holdings Partners. Regis is a Mauritanian-headquartered investment holding company, and Beryl... 

JSE looks to tighten listing rules

By: Reuters     19th September 2018 The Johannesburg Stock Exchange (JSE) wants to increase the minimum capital amount required for a primary listing and is considering stricter rules on secondary listings as it seeks to improve corporate governance. Africa's biggest securities exchange published its proposals in a public... 

Pan African’s rapid turnaround removes false notions on doing business in SA 

By: Martin Creamer     19th September 2018 South Africa was on Wednesday reaffirmed as a country where business is able to do what is required, when London- and Johannesburg-listed gold mining company Pan African Resources outlined the remarkably efficient manner in which this country’s regulatory environment facilitated the closure of a... 

Pan African Resources management outline the company’s low-cost repositioning to Mining Weekly Online’s Martin Creamer. Video and video editing: Darlene Creamer 19.09.2018

Collaboration, innovation needed to drive localisation

By: Tasneem Bulbulia     19th September 2018 There is much opportunity in South Africa to expand local manufacturing and innovation, and this should be pursued through greater collaboration within the business community, delegates attending an industry collaboration workshop, hosted by DuPont in collaboration with the Department of Trade... 

Ngqura Port celebrates milestone

By: Simone Liedtke     19th September 2018 The developing Port of Ngqura, owned by Transnet National Ports Authority, celebrated a milestone this week, with the arrival of the first vessel discharging cargo for Osho Cement. Osho Cement is a new cement manufacturer currently under construction in the Coega Special Economic Zone (SEZ), in... 

Ngqura Port celebrates milestone

Defence industry needs to adapt, optimise for Industry 4.0 – panel

By: Simone Liedtke     19th September 2018 The South African defence industry will need to pilot new projects and adapt to the Fourth Industrial Revolution in order to grow the defence sector and create jobs in the process. To do this, however, Engineers Without Borders founder and CEO Wiebke Toussaint suggested the industry adopt the... 

Defence industry needs to adapt, optimise for Industry 4.0 – panel
Photo by Dylan Slater
(Left to Right) Department of Science and Technology chief director Beeuwen Gerryts, Security and Defence Technology Consulting CEO Zane Cleophas and Engineers Without Borders founder and CEO Wiebke Toussaint

ELB to focus on IoT for service optimisation, profits up 35% for FY18

By: Marleny Arnoldi     19th September 2018 JSE-listed capital equipment supplier and services provider ELB Group reported a 35% increase in profits to R111-million for the financial year ended June 30, compared with R82-million in the prior year. This was on the back of higher sales across all group segments – sales increased by 50% to... 

August trade conditions remained negative – Sacci

By: Schalk Burger     19th September 2018 The South African Chamber of Commerce and Industry’s (Sacci’s) August Trade Conditions Survey shows that present trade conditions and prospects remain tight and in negative territory, the chamber said in a statement on Wednesday. Trade expectations for the next six months, as reflected by the... 

Government looking at 'modernising' defence funding – Ramaphosa

By: Rebecca Campbell     19th September 2018 Government is looking at reducing the dependency of the South African National Defence Force (SANDF) on direct funding by the State, President Cyril Ramaphosa said on Wednesday. He was delivering the opening address for the Africa Aerospace and Defence 2018 exhibition at Air Force Base Waterkloof... 

Government looking at 'modernising' defence funding – Ramaphosa

Sanral completes road improvements on R510

By: Marleny Arnoldi     19th September 2018 The South African National Road Agency Limited (Sanral) has completed repairs to and the resealing of the 61-km-long R510, which runs from Rustenburg, in the North West, to the Limpopo border. “The road is now much more comfortable for drivers and safer for pedestrians. It has brought some... 

Ramaphosa salutes defence industry for economic input, jobs

By: African News Agency      19th September 2018 President Cyril Ramaphosa on Wednesday paid tribute to South Africa's massive defence industry for creating much needed jobs and bringing in foreign currency. "For both security and developmental reasons, South Africa is looking after its defence industry, which is not only viewed as a department... 

Ramaphosa salutes defence industry for economic input, jobs
President Cyril Ramaphosa

Hogan Lovells SA announces new chairperson

By: Sashnee Moodley     19th September 2018 Law firm Hogan Lovells has appointed Nkonzo Hlatshwayo as chairperson of its South African practice as of October 1, as the term of current chairperson Lavery Modise ends. The firm praised Modise for being an inspirational and dedicated leader during his term at the South African practice, which... 

Abland to develop combined-use Menlyn Maine Towers

By: Schalk Burger     19th September 2018 Property developer Abland will develop a combined motor dealership and premium office space, called Menlyn Maine Towers, in Pretoria, and aims to achieve a 4-star green rating accreditation with the Green Building Council of South Africa. The development for the Barloworld Toyota Menlyn... 

Sasol, Solidarity unable to reach agreement

By: Schalk Burger     19th September 2018 Trade union Solidarity and petrochemicals major Sasol were unable to reach an agreement during talks at the Commission for Conciliation, Mediation and Arbitration (CCMA) on Wednesday. Solidarity CE Dr Dirk Hermann said the mediation was deferred to get more clarity on the final Mining Charter’s... 

Pretoria high court dismisses Transnet director's challenge to dismissal

By: African News Agency      19th September 2018 The Pretoria High court on Tuesday dismissed former Transnet director Seth Radebe's challenge to have his removal by Public Enterprises Minister Pravin Gordhan set aside. Gordhan said in a statement he welcomed the ruling, adding that Rabebe's approach to the court had been "vexacious". 

Cable theft puts brakes on Pretoria-Joburg Metrorail trains

By: African News Agency      19th September 2018 Metrorail said on Wednesday that its train service running between Pretoria and Johannesburg was disrupted due to overhead catenary wires being cut and stolen at Irene from both the up and down lines.  Goodman Matampi, acting provincial manager of Gauteng Metrorail, said trains to and from... 

Upbeat Pan African repositioned as lower-cost gold producer

By: Martin Creamer     19th September 2018 Gold mining company Pan African Resources said on Wednesday that it had reconfigured its gold operations for sustainable profitability through the creation of a lower cost base and the imposition of efficiencies and stability through restructuring. The London- and Johannesburg-listed company,... 

Upbeat Pan African repositioned as lower-cost gold producer
Photo by Creamer Media
Pan African Resources CEO Cobus Loots (right) with Thabo Mokoena (left) and Eric Kholwane (centre) at the Elikhulu sod-turning ceremony

CNN-flighted advert projecting huge growth for platinum-using fuel cells

By: Martin Creamer     18th September 2018 French company Air Liquide, a member of the Davos-launched Hydrogen Council that includes platinum-mining company Anglo American, is currently flighting an advertisement on the global television network CNN, which forecasts exceptional growth for the hydrogen and fuel cell market. Quoting the... 

CNN-flighted advert projecting huge growth for platinum-using fuel cells
CNN-flighted advertisement projecting fuel cell growth.

Global steel production, consumption growth to slow – Fitch

By: Tasneem Bulbulia     18th September 2018 Growth in global production and consumption of steel in expected to slow over 2018/19, following a significant rebound since early 2016, Fitch Solutions Macro Research’s recently published ‘Global Steel Outlook’ report states. The global market will post a narrowing deficit of 7.4-million tonnes... 

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