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Motus about more than car sales, says acting CEO

By: Irma Venter     Updated 1 hour 17 minutes ago Motus is on track to list on the JSE on November 22, in the specialised retail sector, following the unbundling of the Imperial group into its two main businesses: Imperial Logistics and Motus, with the latter housing all of its automotive related activities. Imperial was, in fact, founded as a... 

Motus about more than car sales, says acting CEO
Ockert Janse van Rensburg

MTN shares rise on report that Nigeria could reduce $10.1bn fine

By: Reuters     Updated 33 minutes ago Shares in South Africa's MTN Group rose 2.6% on Wednesday on a media report that Nigerian authorities could reduce the $10.1-billion sum they are demanding from the telecoms company in a dispute. The sum covers the return of funds transferred overseas by MTN and a separate $2-billion tax bill. 

SAB, AB InBev launch alcohol-free snack

By: African News Agency      Updated 9 minutes ago South African Breweries and AB InBev are piloting a savoury grain snack made from locally grown grain, the proceeds of whose sale will be used to help develop emerging farmers and support community development initiatives, the companies said. Castle Lager Better Bites is available for purchase at... 

Flexibility to take on ‘unprecedented importance’ as renewables rise 

By: Terence Creamer     13th November 2018 The International Energy Agency (IEA) says that higher shares of variable renewable energy in electricity systems will require a “step change” in the requirement for flexibility, which is the capability to balance electricity supply and demand at all times so as to keep the lights burning. The... 

Flexibility to take on ‘unprecedented importance’ as renewables rise

IEA warns of damaging price spikes if weak oil investment left unchecked 

By: Terence Creamer     13th November 2018 The International Energy Agency (IEA) is cautioning of “damaging price spikes in the 2020s” if the current weak investment in new oil supply is “left unchecked”. The agency states that the average level of new conventional crude oil project approvals over the last three years is only half the... 

IEA warns of damaging price spikes if weak oil investment left unchecked

Electrifying the world no panacea for global warming, IEA says  

By: Bloomberg     13th November 2018 Driving electric cars and scrapping your natural gas-fired boiler won’t make a dent in global carbon emissions, and may even increase pollution levels. Higher electrification may lead to oil demand peaking by 2030, but any reduction in emissions from the likes of electric vehicles will be offset... 

Gigaba resigns as Home Affairs Minister

By: Reuters     13th November 2018 Home Affairs Minister Malusi Gigaba has resigned, the Presidency said on Tuesday, following calls from opposition parties to stand down in recent weeks over a High Court ruling which found he lied under oath. Gigaba, who was finance minister between March 2017 and February 2018, has denied any... 

Municipal debt to Eskom climbs to R17bn

By: African News Agency      13th November 2018 The debt owed to Eskom by South Africa's municipalities continues to grow and had now reached R17-billion, Cooperative Governance Minister Zweli Mkhize told MPs on Tuesday.. "We have noted that debt stood at R14.3-billion and currently has gone up to R17-billion and that's just for Eskom and a... 

Court papers show Transnet executives 'colluded fraudulently'

By: News24Wire      13th November 2018 Court papers filed by Transnet to recover R189-million in inflated payments from Gupta-linked Regiments Capital have revealed collusion by senior executives of the State-owned firm, in allowing the transaction. Former Transnet CEO Siyabonga Gama, ex-chief financial officer Anoj Singh, Robert... 

 Court papers show Transnet executives 'colluded fraudulently'

Telkom delivers strong H1, retrenchment, retirement costs cut earnings 

By: Natasha Odendaal     13th November 2018 Voluntary severance package (VSP) and voluntary early retirement package (VERP) costs have dragged down the earnings of JSE-listed Telkom during the first half of the year. Headline earnings per share (HEPS) for the six months ended September 30 declined by 3.3% to 288c apiece owing to a... 

Telkom CEO Sipho Maseko and CFO Tsholofelo Molefe discuss the groups financial results for the six months ended September 30. Video and video editing: Darlene Creamer 13.11.2018

Icasa calls for comment for IMT roadmap

By: Natasha Odendaal     13th November 2018 The Independent Communications Authority of South Africa (Icasa) on Tuesday called for public comment on its draft International Mobile Telephony (IMT) Roadmap. Stakeholders have until January 18 to give their views on the document that seeks to unlock universal availability of broadband... 

Gauteng Quality of Life survey shows improvement

By: Tasneem Bulbulia     13th November 2018 The latest Quality of Life Index for the Gauteng City Region (GCR) shows a sustained improvement in the quality of life and an increase in the levels of satisfaction with national, provincial and local government, the Gauteng provincial government reports. The index, which is compiled by the GCR... 

Energy industry steadily embracing digitalisation, 4IR

By: Marleny Arnoldi     13th November 2018 Internet traffic data has grown from 2 TB in 1987 to 1.1 zettabytes, or 1.1 ZB, in 2017, meaning digitalisation is already upon us, and not a distant dream, said national Cleaner Production Centre industrial energy efficiency project manager Alfred Hartzenburg. Speaking at the South African... 

Energy efficiency important in mitigating climate change

By: Marleny Arnoldi     13th November 2018 South Africa is warming up, with a current estimated 4 ˚C to 6 ˚C increase in national temperature expected by 2050, compared with the global threat of a 4.5 ˚C temperature increase by 2100, Department of Environmental Affairs climate change director Reitumetse Molotsoane said on Tuesday.... 

Energy industry in need of efficiency intervention

By: Marleny Arnoldi     13th November 2018 The global energy industry finds itself in urgent need of energy efficiency intervention, in support of preventing the earth from heating up by 4.5 ˚C by 2100, South African Energy Efficiency Confederation (SAEEC) president Lisa Reynolds said during the opening of the SAEEC Conference, on... 

Strong relationship bodes well for boosting India/South Africa trade and investment

By: Rebecca Campbell     13th November 2018 South Africa and India already have a solid framework for strong relations, not least in the areas of trade and investment, Indian High Commissioner to South Africa (Ms) Ruchira Kamboj tells Engineering News Online. "India and South Africa are old friends and historical partners," she highlights.... 

Don’t change the Constitution for land reform – CDE

By: Sashnee Moodley     13th November 2018 Changing the Constitution to accelerate land reform is unnecessary and threatens property rights for no good reason, says the Centre for Development and Enterprise (CDE) in its latest report ‘Agriculture, Land Reform and Jobs: Can South Africa make this work?’. The CDE said that while it opposed... 

Don’t change the Constitution for land reform – CDE

Scope for industrial parks to become SEZs, given appropriate support

By: Tasneem Bulbulia     13th November 2018 With proper infrastructure, utilities and management, the twenty-six approved industrial parks across South Africa can, in future, become special economic zones (SEZs) that can contribute immensely to the economy of the country and create jobs, Department of Trade and Industry (DTI)... 

Improved performance drives Sephaku’s H1 earnings higher

By: Simone Liedtke     13th November 2018 Construction materials company Sephaku Holdings (SepHold) achieved a 75.9% year-on-year increase in basic earnings a share to 12.83c for the six months ended September 30, as a result of a significantly improved performance during the period. Headline earnings a share increased by 77.3%... 

Johannesburg Park Station platforms to be closed for a month

By: African News Agency      13th November 2018 Passenger Railway Agency South Africa (PRASA) on Tuesday said the majority of Johannesburg Park Station platforms will be closed with limited train services accessing the station between November 16 and December 16. PRASA said their modernisation programme aimed at rolling out new modernised... 

City of Cape Town to harness stormwater to boost water resources

By: News24Wire      13th November 2018 Stormwater is set to become a new water resource, the City of Cape Town has said. Instead of rushing down gutters and into the sea, stormwater will be kept and used. Just how it will be incorporated into the water system, or how much of it will be captured, is still in the planning stages. But... 

City of Cape Town to harness stormwater to boost water resources

MTN aims to offer mobile banking in Nigeria next year

By: Reuters     13th November 2018 MTN Group will apply for a mobile banking licence in Nigeria and plans to launch the service there next year, its CEO said on Tuesday, further embedding the South African telecoms company in its biggest but increasingly problematic market. Nigeria announced last month that it would allow telecom... 

Canada's Trudeau says he discussed steel tariffs with Trump in Paris

By: Reuters     12th November 2018 Canadian Prime Minister Justin Trudeau said on Monday he had discussed U.S. steel and aluminium tariffs with President Donald Trump over the weekend and that he hoped to reach a resolution on the matter by the G20 summit in Argentina. "I absolutely brought up the issue of steel and aluminium... 

Defence sector code gazetted 

By: Marleny Arnoldi     12th November 2018 Trade and Industry Minister Dr Rob Davies expects transformation in South Africa’s defence sector to gain traction, following the gazetting, on Monday, of the Defence Sector Code in terms of Section 9(1) of the Broad-Based Black Economic Empowerment Amendment Act. Davies says the development of... 

Torre receives buyout offer from consortium

By: Simone Liedtke     12th November 2018 JSE-listed industrial group Torre Industries on Monday said a consortium has expressed a firm intention to make an offer to acquire 100% of the total issued ordinary share capital in Torre. The consortium comprises Main Street 1641, a special purpose vehicle established by Ethos Mid-Market Fund,... 

Vodacom posts H1 uptick  

By: Natasha Odendaal     12th November 2018 JSE-listed Vodacom on Monday posted growth across the board for the first half of the 2019 financial year, with service revenue up 6.1% to R36.8-billion and group revenue up 5.6% to R44.4-billion. During the six months ended September 30, the group achieved headline earnings a share of 385c, a 6%... 

Rebosis shares fall on lower dividend

By: Tasneem Bulbulia     12th November 2018 JSE-listed real estate investment trust (Reit) Rebosis Property Fund's share price fell by more than 23% on Monday. The Reit declared a dividend of 252.86c per A ordinary share and 92.83c per ordinary share for the financial year ended August 31. This represents a 5% year-on-year increase in the... 

Ramaphosa heading to France, Belgium

By: African News Agency      12th November 2018 President Cyril Ramaphosa will this week lead a South African delegation on a working visit to the European Union (EU), International Relations Minister Lindiwe Sisulu said on Monday. "President Ramaphosa will from 14 to 15 November 2018 lead a South African delegation on a working visit to the... 

Ramaphosa heading to France, Belgium
President Cyril Ramaphosa

'It actually shocked me' that Zuma wanted Gama as Transnet CEO – Hogan 

By: News24Wire      12th November 2018 Former public enterprises minister Barbara Hogan told the judicial commission of inquiry into allegations of State capture on Monday that former president Jacob Zuma wanted Siyabonga Gama as the Group CEO of Transnet, despite him facing allegations of misconduct. "It actually shocked me," Hogan... 

'It actually shocked me' that Zuma wanted Gama as Transnet CEO – Hogan
Photo by Creamer Media
Former Public Enterprises Minister Barbara Hogan

Cane valuations, land negotiations dent Tongaat Hulett’s H1 headline earnings

By: Marleny Arnoldi     12th November 2018 JSE-listed agriculture and agroprocessing group Tongaat Hulett suffered a 64% year-on-year decrease in operating profit for the six months ended September 30 to R530-million, compared with the R1.4-billion profit reported for the six months ended September 30, 2017. Tongaat said on Monday that... 

Cane valuations, land negotiations dent Tongaat Hulett’s H1 headline earnings

Jet Demolition lands second World Demolition Award for Eskom project

By: Tasneem Bulbulia     12th November 2018 Jet Demolition has won the Industrial Demolition Award at the World Demolition Awards for the fast-track demolition of a damaged boiler structure at power utility Eskom’s Duvha power station, in Mpumalanga. The awards were held in Dublin, Ireland, last week. 

Jet Demolition lands second World Demolition Award for Eskom project
Jet Demolition boiler demolition project

South Africa needs an ‘explicit’ digital industrial policy 

By: Terence Creamer     12th November 2018 Trade and Industry Minister Dr Rob Davies is warning that unless South Africa develops and “explicit digital industrial policy” there is no guarantee that the potential benefits of the so-called Fourth Industrial Revolution will outweigh the disadvantages. South Africa has had an official... 

South Africa needs an ‘explicit’ digital industrial policy
Photo by Creamer Media
Trade and Industry Minister Dr Rob Davies

JRA appoints Goodwill Mbatha MD

By: Marleny Arnoldi     12th November 2018 The Johannesburg Roads Agency (JRA) has appointed Goodwill Mbatha MD, effective November 1. Mbatha – a qualified chartered accountant – had been serving as CFO for the last six years.  

Mindworx, Rainmaker join forces to accelerate African businesses’ digital transformation

By: Simone Liedtke     12th November 2018 Business services consultancy Mindworx and UK-based digital and business transformation specialist Rainmaker Solutions have joined forces to accelerate the transformation of African businesses for the digital age. The partnership combines global innovation with local expertise and provides... 

Deregulated India attracting tens of billions of dollars in foreign investment

By: Rebecca Campbell     12th November 2018 India attracted $44.9-billion in foreign direct investment during the 2017/2018 financial year, Indian High Commissioner to South Africa Ruchira Kamboj highlighted on Monday. She was addressing the Invest in India Business Forum in Sandton, north of Johannesburg. "Why India? Because it's the new... 

Omnia shares fall as it warns of interim loss

By: Simone Liedtke     12th November 2018 Local chemicals company Omnia Holdings’ share price on the JSE fell by more than 16% on Monday after it announced that it expects to swing to a loss a share for the six months to September 30. It expects to report a loss a share of between 85c and 170c, compared with the earnings a share of 423c... 

DWS to establish licensing body, advisory council

By: Marleny Arnoldi     12th November 2018 The Department of Water and Sanitation (DWS) will establish a schedule three institution to accelerate the issuing of water use licences. This follows after Water and Sanitation Minister Gugile Nkwinti expressed his intention, during a Ministerial Innovators Interactive Session that was hosted... 

SAA welcomes government’s support

By: Marleny Arnoldi     12th November 2018 South African Airways (SAA) has assured its stakeholders, customers and suppliers of its business continuity after government confirmed that the airline will not be shut down or sold. Public Enterprises Minister Pravin Gordhan last week clarified government’s position that, while the airline... 

SAA welcomes government’s support

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