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South Africa's manufacturing output jumps, boosting rand 

By: Reuters     Updated 3 hours ago South Africa's manufacturing output rose more than expected in October to its highest level since June 2016, data showed on Tuesday, lifting the rand as the economy showed further signs of recovering from recession. Africa's most industrialised economy slipped into recession after contractions in... 

South Africa's manufacturing output jumps, boosting rand

No more 'grand plans', fix what you have, Ramaphosa tells municipal delegates 

By: African News Agency      Updated 5 hours ago President Cyril Ramaphosa on Tuesday told representatives of local government to stop producing “grand plans for new projects” when existing infrastructure was lying in disrepair. Addressing the South African Local Government Agency (Salga) national member’s assembly at the Inkosi Albert Luthuli... 

No more 'grand plans', fix what you have, Ramaphosa tells municipal delegates
President Cyril Ramaphosa

South Africa needs to prepare in case of ‘hard’ Brexit – NWU economist  

By: Marleny Arnoldi     Updated 2 hours 49 minutes ago North West University economist Professor Raymond Parsons says a “hard” Brexit is likely in March 2019 and that the UK may well crash out of the European Union (EU) without a withdrawal agreement. He laments that, with the decision by the UK government to delay the Parliamentary vote on the... 

South Africa needs to prepare in case of ‘hard’ Brexit – NWU economist
Photo by Creamer Media
NWU economist Professor Raymond Parsons

New Necsa board has important issues to consider

By: Rebecca Campbell     Updated 1 hour 43 minutes ago Major decisions are going to have to be taken about the future of the South African Nuclear Energy Corporation (Necsa), new Necsa Board Chairperson Dr Rob Adam told “Engineering News Online” on Tuesday. A totally new Board for the corporation was announced by the Government on December 6, the new... 

New Necsa board has important issues to consider
Photo by Creamer Media
Necsa chairperson Dr Rob Adam

Group Five pays $43m of Cenpower’s claim, contractual dispute continues

By: Marleny Arnoldi     Updated 3 hours ago JSE-listed construction company Group Five announced on Tuesday that $43.8-million had been paid by its guarantee providers to Cenpower. Payment was made on the basis of the legal requirements on on-demand bonds and not on the merits of the contractual claims presented by the client, Group Five... 

Commission gives Polanofield go-ahead to acquire Dawn

By: Marleny Arnoldi     Updated 5 hours ago The Competition Commission has approved Polanofield’s proposed acquisition of JSE-listed Distribution and Warehousing Network (Dawn) at R0.01 apiece. Polanofield – a shelf company that was recently bought by its controllers specifically for the purposes of the proposed transaction – plans to... 

Commission approves Robor’s acquisition of Macsteel MT&P business, with conditions

By: Tasneem Bulbulia     Updated 3 hours ago The Competition Commission has approved Robor’s proposed acquisition of Macsteel’s tubes and pipes business (MT&P), but with conditions. The commission found that the proposed transaction is unlikely to result in a substantial prevention or lessening of competition in the relevant markets;... 

Outa, WSSA call for establishment of an independent water regulator

By: Natasha Odendaal     Updated 2 hours 50 minutes ago Civil society organisations, the Organisation Undoing Tax Abuse (Outa) and Water Shortage South Africa (WSSA), believe the establishment of an independent regulator will result in an effective and efficient water sector and help to protect South Africa's scarce water supplies. The pair have... 

EOH CEO review leads group to focus on four operating units

By: Schalk Burger     Updated 1 hour 59 minutes ago A review of the business by JSE-listed EOH CEO Stephen van Coller during his first 100 days in the position has led the company to refine and expand its reporting and management into four distinct operating units, which enables it to better support these businesses with different focuses, capital... 

Liquid secures $180m investment

By: Natasha Odendaal     Updated 3 hours ago Liquid Telecom has obtained a $180-million investment from UK development finance institution CDC Group to expand its high-speed broadband connectivity and Internet and cloud-based services into underserved communities and the technology start-up ecosystem across Africa. The investment will... 

High-performance computing conference stimulates cyberinfrastructure development

By: Marleny Arnoldi     Updated 5 hours ago The Centre for High Performance Computing (CHPC) Conference, held in Cape Town earlier this month, provided a platform for students to showcase their skills in building supercomputers and ideas around preventing cybercrime. The CHPC is one of three primary pillars of the national... 

Bigen awarded Level 1 BBBEE rating

By: Simone Liedtke     Updated 3 hours ago Solutions-focused infrastructure development group Bigen has been rated a Level 1-compliant company in terms of the Broad-Based Black Economic Empowerment (BBBEE) Act Codes of Good Practice. Rated by Mpower Ratings, Bigen has achieved an increase in black ownership from 31% to 51%, 14% of which... 

Bigen awarded Level 1 BBBEE rating

15 on Orange’s PVT energy system now fully operational

By: Simone Liedtke     Updated 2 hours 20 minutes ago The newly installed Solarus energy system on the roof of the 15 on Orange Hotel, in Cape Town, is now fully operational. According to a statement issued on Tuesday, the hybrid photovoltaic and thermal (PVT) project is currently the largest in Cape Town and is a system that provides the luxury... 

15 on Orange’s PVT energy system now fully operational
The newly installed Solarus energy system on the roof of the 15 on Orange Hotel, in Cape Town

Growthpoint prepares for Cape Town’s planned ban on wet waste at landfills

By: Marleny Arnoldi     11th December 2018 JSE-listed real estate investment trust (Reit) Growthpoint Properties has partnered with Waste Transformers – an organisation based in Netherlands – to leverage end-of-pipeline food waste from the Reit’s shopping malls and to adopt a decentralised approach to organic waste. This comes ahead of... 

Growthpoint prepares for Cape Town’s planned ban on wet waste at landfills
Waste Transformer's aerobic digester at Growthpoint Properties' N1 City Mall

Big coal wants consumers to pay for fixing its pollution problem

By: Bloomberg     Updated 2 hours 3 minutes ago Some of the world’s biggest fossil-fuel producers are calling on taxpayers to help them kick their pollution habit. The world’s biggest oil, natural gas and mining companies are stepping up their campaign to deploy carbon capture and storage, or CCS, as way to slow global warming. But with a... 

SA employment down 0.2 pct in Q3 – statistics agency

By: African News Agency      Updated 5 hours ago Employment in South Africa's formal non-agricultural sector fell by 0.2 percent or 16 000 jobs to 9.733-million in the third quarter compared with the previous three months, the national statistics agency said on Tuesday. The number however reflects a 0.2 percent or 17 000 increase over the same... 

 SA employment down 0.2 pct in Q3 – statistics agency

KZN’s 'agricultural master plan' is key to transformation, says MEC

By: African News Agency      Updated 6 hours ago KwaZulu-Natal’s MEC for agriculture and rural development, Themba Mthembu, on Tuesday reiterated that an “agricultural master plan” being developed would drive transformation and act as a foundation for development.   Mthembu made the remarks at an Agribusiness breakfast dialogue hosted by the... 

In Eskom's case, does Mboweni feel a photo is worth 1 000 words?

By: Bloomberg     Updated 6 hours ago Not long after Eskom told fund managers in London that the troubled power utility planned to ask South Africa’s National Treasury to assume R100-billion of its debt, the country’s new Finance Minister Tito Mboweni tweeted a picture of a sieve. The tweet, two days later, may have been a simpler... 

Musk wants to open Tesla store in his South African homeland

By: Bloomberg     Updated 6 hours ago It’s been almost 30 years since Elon Musk left South Africa to start a new life in North America. Now, the billionaire may be about to bring his Tesla electric cars back home. “Probably end of next year,” the chief executive officer of Tesla Inc. replied to a South African fan on Twitter, who... 

Cape Town MyCiti bus petrol bombed, driver seriously injured

By: African News Agency      Updated 7 hours ago A MyCiti bus driver was seriously injured when the bus he was driving was petrol bombed in Roodebloem street, Woodstock, in Cape Town, on Monday night at about 22:00. The spokesperson for the city's fire department, Theo Layne, said a passenger was also injured, but was not in a critical... 

National Treasury introduces Bill to govern conduct of financial institutions

By: African News Agency      Updated 7 hours ago The National Treasury on Tuesday announced the publication of a bill that aims to strengthen the regulation of how the financial services industry treats consumers. The Conduct of Financial Institutions (COFI) Bill is a follow up to the Financial Sector Regulation (FSR) Act of 2017, which... 

No load shedding scheduled for Tuesday but risk remains high, says Eskom

By: African News Agency      11th December 2018 Power utility Eskom said on Tuesday that it will not implement Stage 1 rotational load shedding from 9am as usual, but warned that the electricity system remains tight and the risk of load shedding still remained high should power station units fail to return as planned. Eskom had said on Monday... 

No load shedding scheduled for Tuesday but risk remains high, says Eskom

Oil holds drop on doubts over Opec curbs and US supply threat

By: Bloomberg     11th December 2018 Oil held its biggest loss in two weeks as uncertainty over how the Opec+ coalition will implement its output cuts and the prospect of surging US supplies kept investors wary. Futures in New York were little changed, after Monday’s 3.1% drop erased gains following last week’s pact between Saudi... 

DLO Energy Resources invests in 30 MW solar plant in Nigeria

By: Tasneem Bulbulia     10th December 2018 South African clean energy development company DLO Energy Resources Group is investing in a solar farm project in Nigeria’s Kaduna state to power its green industrial zone. DLO MD and founder Linda Mabhena-Olagunju and Kaduna state Governor Nasir Ahmad el-Rufai this week signed a memorandum of... 

DLO Energy Resources invests in 30 MW solar plant in Nigeria
From L-R: Kaduna Power Supply Company MD Dr Abdulkareem Mayere, Linda Mabhena-Olagunju and special adviser to the governor Jimi Lawal

MAS acquires Atrium mall in Arad, Romania

By: Tasneem Bulbulia     10th December 2018 MAS has, through a subsidiary of PKM Investments, acquired the Atrium shopping centre in Arad, Romania, from Cosmovia Holdings. The acquisition forms part of the company’s acquisition pipeline in central and eastern Europe (CEE) and complements MAS’s income-generating portfolio of assets in the... 

MAS acquires Atrium mall in Arad, Romania
The Atrium shopping centre

Mashaba seeks to reignite entrepreneurship, address infrastructure challenges 

By: Marleny Arnoldi     10th December 2018 Johannesburg Mayor Herman Mashaba on Monday said the mayoral committee has approved another 100 buildings to be released for private sector development, as part of the metro’s inner city development programme. Following this, national government will give its stamp of approval and the... 

Johannesburg Mayor Herman Mashaba discusses city shortfalls. Video and editing: Nicholas Boyd

E-hailing goods service Droppa to expand to WCape, KZN next year 

By: Irma Venter     10th December 2018 It’s like Uber, but for goods, not people. New e-hailing service Droppa allows you to book a small bakkie or truck to pick up and deliver that fridge that needs moving, or those chairs required at a wedding, or to take home that dinner table you just bought. Droppa is the brainchild of... 

E-hailing goods service Droppa to expand to WCape, KZN next year
Photo by Dylan Slater
Khathu Mufamadi

Bloodhound supersonic car project halted

By: Tasneem Bulbulia     10th December 2018 Project Bloodhound, the initiative to break the land-speed world record, has been halted, owing to a lack of funds, BBC News and other media reported at the weekend. Engineering News in October reported that Bloodhound Programme, the UK company behind the project, had entered into administration,... 

Rooibos tea enjoys a rosy outlook from international markets

By: African News Agency      10th December 2018 Rooibos, which is exclusively farmed in the Cederberg and Sandveld areas of the Western Cape, is fast becoming one of the most attractive agricultural products to invest in, the South African Rooibos Council (SARC) said on Monday. The SARC said that South Africa holds a competitive advantage in a... 

Transnet goods train derails, blocks major line in Cape Town

By: News24Wire      10th December 2018 A Transnet goods train derailed between Tygerberg and Bellville railway stations in Cape Town on Monday, severely delaying commuter services. "Under current circumstances, delays could exceed 120 minutes," Metrorail spokesperson Riana Scott said. Scott said the derailment occurred around 08:30... 

MTN says still in talks with Nigerian authorities

By: Reuters     10th December 2018 South African telecoms firm MTN Group was still in talks with Nigerian authorities over an $8.1-billion dispute and a $2-billion tax demand in a bid to reach an agreement, Africa's biggest mobile operator said on Monday. The dispute is over the transfer of $8.1-billion of funds which Nigeria's... 

South Africa needs to bail out Eskom, says former Eskom adviser Rothschild 

By: Reuters     10th December 2018 The South African government needs to "bite the bullet" and bail out struggling state-run power firm Eskom, which has asked for R100-billion ($7-billion) in government support, the chief executive of Rothschild & Co in South Africa told Reuters. Rothschild advised Eskom in 2008 when it last... 

Liquid to invest $400m in Egypt over three years

By: Natasha Odendaal     10th December 2018 Pan-African telecoms group Liquid Telecom plans to inject $400-million into Egypt’s network infrastructure and data centres over the next three years. This follows the signing of a partnership agreement between Telecom Egypt, which is working to connect Egyptian businesses to the rest of Africa... 

Egypt's Carbon Holdings secures $1.25bn to build petrochemicals complex

By: Reuters     10th December 2018 Egypt's Carbon Holdings has secured $1.25-billion in financing to build a giant petrochemicals complex in the Red Sea port of Ain Sokhna. The Tahrir Petrochemicals Complex, a $10.9-billion project, would be the largest in the Middle East and is expected to create 48 000 jobs. 

Egypt aims to kickstart African trade as it takes AU chair

By: Reuters     10th December 2018 Egypt is promoting itself as a linchpin for intra-African trade and a model of economic reform as it prepares to chair the African Union in 2019. The country hosted a high-level business forum on Saturday and Sunday in the Red Sea resort of Sharm el-Sheikh that will be followed by an... 

South Africa's key economic, political risk events in 2019  

By: Bloomberg     10th December 2018 In 2018, South Africa got a new president, two new finance ministers and slumped into a recession. Next year may be even more bumpy. Here’s a look at the key economic and political risk factors to watch out for in 2019: 

New CSIR board unveiled

By: Rebecca Campbell     10th December 2018 Science and Technology Minister Mmamoloko Kubayi-Ngubane announced the new board for the Council for Scientific and Industrial Research (CSIR) on Monday. The CSIR is a multidisciplinary research and development (R&D) organisation that falls under the aegis of the Department of Science and... 

Eskom says no load shedding scheduled for Monday, but risk remains high

By: African News Agency      10th December 2018 Power utility Eskom said on Monday that it will not implement Stage 1 rotational load shedding from 9am as usual, but warned that the electricity system remains tight and the risk of load shedding still remained high should power station units fail to return as planned. The troubled power utility... 

Eskom says no load shedding scheduled for Monday, but risk remains high

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