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Audit results of government departments show a shocking decline 

By: Kim Cloete     Updated 5 hours ago The Auditor-General has been given more powers to crack down on national and provincial government department and their entities. This follows another year of overall decline in their audit results, with a rise in wasteful and irregular expenditure and weak financial controls. Releasing his... 

Audit results of government departments show a shocking decline
Auditor-General Kimi Makwetu

Eskom warns its debt could reach R550bn 

By: African News Agency      21st November 2018 Eskom's financial situation will remain dire for the next few years with a risk its debt burden would grow from R400-billion to some R550-billion in the foreseable future, the power utility's chairperson Phakamani Hadebe conceded on Wednesday. "The institution is really under severe financial... 

 Eskom warns its debt could reach R550bn
Photo by Dylan Slater
Eskom CEO Phakamani Hadebe

Datsun adds features to Go as competition heats up in entry-level market 

By: Irma Venter     21st November 2018 Datsun South Africa has sold just under 25 000 new Datsuns onto the local market since its launch in April 2014, says Datsun South Africa marketing manager Tessa Cooke. The revived entry-level Japanese brand has two products available in South Africa, namely the Go hatchback and the Go+... 

 Datsun adds features to Go as competition heats up in entry-level market
The refreshed Datsun Go

Sasol anticipates rise in H1 earnings

By: Marleny Arnoldi     21st November 2018 Petrochemicals giant Sasol expects to deliver a solid set of results for the six months to end December 31, underpinned by higher Brent crude oil and product prices, a weaker average rand exchange rate and good performance from its global asset base. Sasol on Wednesday said it was likely to... 

Sasol anticipates rise in H1 earnings

PwC unpacks possible outcomes of final 2018 MPC meeting

By: Marleny Arnoldi     Updated 7 hours ago The South African Reserve Bank’s (SARB’s) last Monetary Policy Committee (MPC) meeting for this year is under way, with SARB governor Lesetja Kganyago expected to announce the outcome on Thursday. Policymakers are considering the possibility of a rate hike in November, against the backdrop of... 

TPT, AFGRI to enter concessions for port terminals

By: Tasneem Bulbulia     Updated 5 hours ago Transnet Port Terminals (TPT) will enter into a 15-year concession agreement with AFGRI Operations for the operation and maintenance of landside operations. The agreement will focus on two strategic agri-ports in the country – the East London Grain Elevator in the Port of East London and the... 

Coal to remain significant part of South Africa’s energy generation mix  

By: Simone Liedtke     Updated 6 hours ago Notwithstanding recent and continued advances in the roll-out of renewable energy and energy efficiency measures, South African National Energy Development Institute (Sanedi) GM for cleaner fossil fuel use Professor Tony Surridge expects coal will continue to form a significant component of South... 

South African National Energy Development Institute GM for cleaner fossil fuel use Professor Tony Surridge speaks to Mining Weekly Online about South Africa's status quo surrounding carbon dioxide storage and utilisation. Video & Editing: Nicholas Boyd

Countries urged to embrace greener energy sources

By: Simone Liedtke     Updated 6 hours ago Amid rising global energy demand, University of the Witwatersrand visiting adjunct professor Adam Luckos urges developing countries to embrace greener energy principles. To do this without jeopardising economic growth, he suggests that developing countries, where coal is the most viable... 

Countries urged to embrace greener energy sources
Photo by Dylan Slater
University of the Witwatersrand visiting adjunct professor Adam Luckos

Study under way to help shape policy needed to transition from coal-based to renewable energy systems

By: Simone Liedtke     Updated 5 hours ago As more renewable energy capacity is added globally, thermal coal-fired power stations are likely to, in future, operate only for short periods of time to balance the shortfall in electricity when renewable capacity is not available, University of Johannesburg professor Bilainu Oboirien said at... 

Study under way to help shape policy needed to transition from coal-based to renewable energy systems
Photo by Dylan Slater
University of Johannesburg professor Bilainu Oboirien

Gemgrow delivers expected dividend growth for FY18

By: Marleny Arnoldi     21st November 2018 In line with guidance set, JSE-listed real estate investment trust Gemgrow Properties delivered dividend growth of 5% year-on-year to 106.91c apiece for A shares and 7% year-on-year to 78.7c apiece for B shares, for the financial year ended September 30. The company on Wednesday reported a... 

Vaal River pollution: 'There have been challenges to compliance', Sasol says

By: News24Wire      21st November 2018 Petrochemicals giant Sasol has denied that it is responsible for pollution in the Vaal river. However, it has admitted struggling to interpret some compliance requirements with regard to regulations on the discharge of waste. According to a report by the Department of Water and Sanitation... 

Cape Town borrows R1.3bn from German bank for wastewater projects

By: News24Wire      21st November 2018 The City of Cape Town signed a R1.3-billion loan with the German government-owned KfW Development Bank for urban wastewater management, Mayor Dan Plato's office said. The unsecured loan will cost 8.107% in interest and is payable over 15 years. In a statement, the City said the interest rate was... 

New terminal at Accra’s Kotoka International Airport the pride of Ghana

By: African News Agency      21st November 2018 Ghana Airports Company Limited (GACL) MD John Attafuah is an animated man to whom words come freely, quickly and eloquently. But even he has to pause and gasp for a few seconds though, as he describes the impact the new Terminal 3 at Accra’s Kotoka International Airport has had on Ghanaians. The... 

WTO to set up panels to rule on US tariff disputes

By: Reuters     Updated 6 hours ago The US and opponents of President Donald Trump's steel and aluminium tariffs both confirmed their wish to litigate on Wednesday, triggering the procedure for World Trade Organization dispute hearings, a Geneva trade official said. China, the European Union, Canada, Mexico, Norway, and Russia all... 

Oil halts slide as signs of stockpile drop counter Opec doubts

By: Bloomberg     21st November 2018 Oil halted a slide near $54 a barrel as investors weighed industry data that showed US crude inventories unexpectedly fell last week against doubts over Opec’s plans to cut output. Futures in New York rose as much as 2%, after plunging more than 6% on Tuesday. The American Petroleum Institute was... 

SAHRC steps up efforts in water sector 

Updated 6 hours ago Creamer Media's Chanel de Bruyn speaks to Creamer Media Senior Deputy Editor Natasha Odendaal about the South African Human Rights Commission’s investigation into the alleged violation of citizens’ right to clean water and a clean environment. 

SAHRC steps up efforts in water sector

Brazil, India to defy global slowdown of iron-ore production up to 2027

By: Marleny Arnoldi     Updated 7 hours ago The global iron-ore market will stay well supplied up to 2027, supported by expanding output in Brazil and India, says Fitch Solutions’ Macro Research unit. Global iron-ore production will grow modestly from 3.36-billion tonnes to 3.41-billion tonnes by 2027, representing a yearly growth rate... 

Irregular spend of national, provincial government, SOEs up to R51bn and counting

By: African News Agency      21st November 2018 Irregular expenditure for national and provincial government departments, as well as State-owned entities audited by the Auditor-General amounted to R51-billion and counting, it was revealed on Wednesday. Releasing the audit results for the 2017/18 financial year, Auditor-General Kimi Makwetu... 

Irregular spend of national, provincial government, SOEs up to R51bn and counting
Auditor-General Kimi Makwetu

SA annual consumer inflation rises to 5.1 percent in October

By: African News Agency      21st November 2018 Consumer price inflation rose to 5.1 percent year-on-year in October 2018 from 4.9 percent in September, Statistics South Africa said on Wednesday. On a month-on-month basis, the consumer price index increased by 0.5 percent in October. 

SA annual consumer inflation rises to 5.1 percent in October

Gauteng government seeks help spending its RDP budget

By: News24Wire      21st November 2018 Gauteng Human Settlements MEC Uhuru Moiloa has plans to exhaust the RDP construction budget by the end of the financial year and he needs help. According to Moiloa, for the first time in his department's history, more than 50% of the budget was spent in the third quarter of the financial year. He... 

Mashaba orders audit to establish legal status of those occupying City property

By: News24Wire      21st November 2018 City of Johannesburg Mayor Herman Mashaba says he has ordered an audit into the legal status of those occupying City properties. The audit would establish, among other things, whether tenants occupying buildings in the City were doing so legally and if any subletting was taking place. It would... 

Mashaba orders audit to establish legal status of those occupying City property
City of Johannesburg Mayor Herman Mashaba

Big plans afoot for training more young people in renewable energy

By: Kim Cloete     20th November 2018 The South African Renewable Energy Technology Centre (Saretec), which provides training for wind turbine service technicians and which has recently expanded into training solar photovoltaic (PV) installers, has been officially launched in Cape Town. The sophisticated and state-of-the-art training... 

Dipula delivers strong FY results

By: Tasneem Bulbulia     20th November 2018 Diversified real estate investment trust Dipula Income Fund on Tuesday reported double-digit growth in distributable earnings to R504.2-million for the year ended August 31. Dipula’s property portfolio ended the year with a 25% higher value at R8.6-billion. 

MCIT unchanged at 58 index points for Q3, drop to 50 expected for Q4 

By: Marleny Arnoldi     20th November 2018 The Manufacturing Circle Investment Tracker (MCIT) for the third quarter of 2018 revealed stable investment spending in line with industry expectation and firmly above the neutral 50-point mark, with the overall index flat at 58 index points. Albeit stable on a quarter-on-quarter basis, the... 

Icasa starts inquiry into the mobile broadband market

By: Natasha Odendaal     20th November 2018 The Independent Communications Authority of South Africa (Icasa) has launched an inquiry into the mobile broadband market as part of its efforts and interventions to reduce the high cost of communication in the country. The notice of intention, published last week, is the third intervention by... 

Stor-Age achieves growth despite challenging economic climate

By: Marleny Arnoldi     20th November 2018 Real estate investment trust Stor-Age has achieved a 9.1% year-on-year increase in dividends a share to 51.3c apiece for the six months ended September 30, underpinned by solid organic growth in its South African and UK portfolios and the successful integration of acquisitions. Stor-Age... 

Khashoggi killing complicates Saudi rescue bid for Denel

By: Reuters     20th November 2018 Loss-making South African arms maker Denel has a problem as it fights to survive. Its potential saviour is Saudi Arabia, now drawing fierce criticism following the killing of journalist Jamal Khashoggi. But after being mismanaged for years and tainted by a far-reaching influence-peddling scandal,... 

2018 new-vehicle sales, exports flat, but 2019 offers some hope, says Naamsa 

By: Irma Venter     20th November 2018 In its latest quarterly report, the National Association of Automobile Manufacturers of South Africa (Naamsa) expects South African new-vehicle sales to reach 558 000 units this year, inching up from last year’s 557 701 units. At this point in time, the association expects only a marginal... 

2018 new-vehicle sales, exports flat, but 2019 offers some hope, says Naamsa

South Africa’s coal output continues to decline   

By: Simone Liedtke     20th November 2018 XMP Consulting senior coal analyst Xavier Prevost expects South Africa’s coal production to soon “drop drastically” as a result of low investment in new coal mining capacity and older mines reaching the end of their lives. Speaking to Mining Weekly Online on the sidelines of the Fossil Fuel... 

XMP Consultants senior coal analyst Xavier Prevost speaks to Mining Weekly Online on the sidelines of the Clean Coal Technologies conference about the current and future trends in coal production, trade and markets in South Africa. Video & Editing: Nicholas Boyd.

No land grabs in SA, your investments are safe – Ramaphosa tells German counterpart

By: News24Wire      20th November 2018 President Cyril Ramaphosa said at a media briefing on Tuesday morning in Cape Town with German President Frank-Walter Steinmeier that there will be no land grabs in South Africa and that foreign investments in the country are safe. “Investors should have no fear that their land or investment will... 

No land grabs in SA, your investments are safe – Ramaphosa tells German counterpart
President Cyril Ramaphosa

New stage 8 load shedding 'nothing to panic about', says Eskom 

By: News24Wire      20th November 2018 Power utility Eskom recently announced that it would be expanding its load shedding plan to eight stages, allowing for up to 8 000 MW to be shed from the national grid. It previously had four stages that allowed for up 4 000 MW to be cut.   The new schedule is "nothing to panic about", Eskom... 

 New stage 8 load shedding 'nothing to panic about', says Eskom

Ramaphosa is said to mull economy super Ministry

By: Bloomberg     20th November 2018 President Cyril Ramaphosa may create a super ministry for economic policy as part of an overhaul of the nation’s executive, according to three people familiar with the matter. The new ministry will combine various economic departments, including the National Treasury, to simplify policy... 

Santaco acquires 25% stake in SA Taxi for R1.7bn

By: African News Agency      20th November 2018 The South African National Taxi Council (Santaco) has acquired a 25 percent stake in SA Taxi for R1.7-billion, following several years of a mutually-beneficial working relationship. SA Taxi finances entrepreneurs who operate minibus taxis that may not otherwise have access to credit from... 

Eskom ordered to keep Musina's lights on

By: African News Agency      20th November 2018 The North Gauteng High Court on Tuesday ruled in favour of business organisation Sakeliga to interdict Eskom from interrupting electricity supply after Musina and other municipalities failed to settle their debts. "The first respondent be interdicted and restrained from implementing it's decision... 

I am not accountable to bullies – Gordhan  

By: African News Agency      20th November 2018 Public Enterprises Minister Pravin Gordhan on Tuesday took a swipe at his detractors, telling the State capture commission of inquiry that he does not submit to bullies. The minister is testifying for a second day at the commission of inquiry into State capture, led by deputy chief justice... 

I am not accountable to bullies – Gordhan
Photo by Bloomberg
Public Enterprises Minister Pravin Gordhan

South Africa is making strides in physics, but lags in gender equality

By: Kim Cloete     20th November 2018 South Africa is making strides in the field of physics, as well as steady progress in developing and appointing black researchers in the field, but is lagging way behind in gender equality, a study has shown. “Over the period 2005 to 2015, the impact of South African physics publications has... 

Report lays out action plan for sanitation crisis in Limpopo schools

By: Sashnee Moodley     20th November 2018 Public-interest law centre Section27 has released its long-awaited sanitation report, offering an overview of the state of school sanitation in Limpopo and calling on the Limpopo Department of Education (LDE) and the Department of Basic Education (DBE) to address the issue. The report, ‘Towards... 

Report lays out action plan for sanitation crisis in Limpopo schools

South Africa marks ten years of collaboration with CERN

By: Kim Cloete     20th November 2018 South Africa this week celebrated its ten-year collaboration with CERN, the European Organisation for Nuclear Research, best known for major breakthroughs such as the discovery of the Higgs-Boson particle in 2012. South Africa’s science community, together with the ambassadors from the French and... 

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