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World Bank says confidence not enough to lift South Africa’s growth prospects  

By: Terence Creamer     Updated 3 hours ago The World Bank expects South Africa's growth to pick up modestly in 2019 to 1.3% on the back of several “promising” policy announcements made by President Cyril Ramaphosa’s administration in 2018. It expects the economy to expand by 1.7% in 2020. Nevertheless, the bank believes that the country’s... 

World Bank progamme leader for equitable growth, finance and institutions Sebastien Dessus on South Africa’s 2019 growth outlook. Camera Work & Editing: Darlene Creamer. Recorded: 22.1.2019

South Africa says there is no Saudi proposal on Denel under consideration 

By: Reuters     Updated 4 hours ago The South African government is not considering any proposal from Saudi Arabia on taking a stake in struggling state arms company Denel, Public Enterprises Minister Pravin Gordhan said, after the Gulf country offered to partner with Denel last year. "There is no proposal from the country in... 

South Africa says there is no Saudi proposal on Denel under consideration

MTN has paid $53m to settle Nigeria dispute – central bank 

By: Reuters     Updated 3 hours ago MTN has paid $53-million to settle a money transfer dispute with Nigeria's central bank and the matter has been withdrawn from court, Governor Godwin Emefiele said on Tuesday. The central bank had ordered MTN and its lenders to bring back a total of $8.1-billion it alleged the company had... 

Cape Town’s WhereIsMyTransport expands to Latin America, India

By: Irma Venter     Updated 4 hours ago Public transport data and technology company WhereIsMyTransport has raised $1.85-million in funding from Liil Ventures and Goodwell Investments, as part of its Series A funding round. The funding will support the company’s expansion into Latin America and India. 

Cape Town’s WhereIsMyTransport expands to Latin America, India
Data collected by WhereIsMyTransport in Mexico City

PRASA to have permanent group CEO by April – Minister

By: Marleny Arnoldi     Updated 7 hours ago Transport Minister Blade Nzimande expects the process to appoint a permanent group CEO for the Passenger Railway Agency of South Africa (PRASA) to be completed by April. He stated this in a reply to a Parliamentary question by Democratic Alliance MP Chris Hunsinger, dated January 9.  

PIC suspends exec, manager pending investigation

By: Marleny Arnoldi     Updated 7 hours ago The Public Investment Corporation (PIC) has resolved to suspend listed investments executive head Fidelis Madavo and assistant portfolio manager Victor Seanie effective immediately amid investigations into alleged irregularities. This follows responses that were given to the Standing Committee... 

CEOs to be more cautious this year as uncertainty, pessimism prevail – PwC 

By: Simone Liedtke     Updated 2 hours 39 minutes ago There are consistent trends in the 2018 and 2019 results of PricewaterhouseCoopers’ (PwC’s) annual CEO survey, with global CEOs – including those based in South Africa – plagued by pessimism and uncertainty in the new year. According to the survey, which was released on Monday, caution among CEOs... 

PricewaterhouseCoopers (PwC) Africa CEO Dion Shango speaks to Engineering News Online about the 2019 results of the company's annual CEO survey. Video & Editing: Nicholas Boyd

Business insolvencies to remain as long as GDP growth is subdued – Euler Hermes

By: Marleny Arnoldi     Updated 2 hours 41 minutes ago Credit insurance company Euler Hermes expects business insolvencies in South Africa to increase by about 2% this year, following a 3% increase in 2018. The company stated on Tuesday that this was the first outright deterioration since 2009 and the global financial crisis.  

Afrox injects R150m into upgrading its facilities at State hospitals

By: Marleny Arnoldi     22nd January 2019 JSE-listed Afrox plans to invest more than R150-million at hospital sites in Mpumalanga, KwaZulu-Natal, the Free State and North West to upgrade the company’s service facilities, Afrox healthcare head Joseph Ramashala confirmed on Tuesday. This is part of the company’s investment strategy to... 

Afrox injects R150m into upgrading its facilities at State hospitals
Afrox bulk tank installation

LHDA appoints engineering panel for LHWP II

By: Natasha Odendaal     Updated 3 hours ago The Lesotho Highlands Development Authority (LHDA) on Tuesday announced the appointment of an engineering panel of experts for the second phase of the Lesotho Highlands water project (LHWP II). The panel comprises a selection of experts from the UK, Europe, the US and Australia, with the combined... 

AMSA extends water treatment contract with Veolia Water Technologies

By: Tasneem Bulbulia     Updated 7 hours ago Veolia Water Technologies South Africa has been re-awarded the operational and chemical water treatment contract for ArcelorMittal South Africa’s (AMSA’s) Vanderbijlpark Works operation. Veolia has operated the facility’s water-related infrastructure and supplied and managed its chemical dosing... 

AMSA extends water treatment contract with Veolia Water Technologies
The thermal desalination plants ensure optimum salinity of the water cycle at the main water treatment plant

GETI provides insights into talent environment for energy sectors

By: Tasneem Bulbulia     Updated 4 hours ago The third annual Global Energy Talent Index (GETI), the world’s largest energy recruitment and employment trends report, was released on Tuesday, and offered insights into five industry subsectors – oil and gas, renewables, power, nuclear and petrochemicals. The report, compiled by Airswift and... 

Wine export values rise despite drought, lower volumes

By: Marleny Arnoldi     Updated 6 hours ago Despite 2018 being a challenging year for the wine industry, with a low-yielding harvest owing to the regional drought, the Wines of South Africa (WoSA) Export Report has found positive growth in the overall value of exports. The 4% increase in the value of exports to R9.06-billion reflected... 

Wine export values rise despite drought, lower volumes

Western Cape govt starts Holgaten trunk road improvement project

By: Marleny Arnoldi     Updated 6 hours ago The Western Cape Department of Transport and Public Works has started a project to improve and reseal 16.5 km of trunk road between Holgaten and Oudtshoorn, and reseal another 6.7 km section of trunk road between Holgaten and Uniondale. The first section is a major north-south link between... 

SAA extends flight cancellations to Blantyre over airport safety failings

By: Rebecca Campbell     22nd January 2019 South African national flag carrier South African Airways (SAA) announced on Tuesday that it was extending its cancellation of flights between Johannesburg and Blantyre, Malawi. The extension means that the flights to and from Blantyre scheduled for Wednesday January 23 have now been cancelled.... 

SAA extends flight cancellations to Blantyre over airport safety failings

Airbus seeks to stimulate quantum computing for aircraft design

By: Rebecca Campbell     Updated 3 hours ago Europe-based global major aerospace and defence group Airbus launched on Tuesday a global quantum computing development competition. The Airbus Quantum Computing Challenge (AQCC) is intended to stimulate proposals and solutions regarding “complex optimisation and modelisation” (in Airbus’ words)... 

New fuel cell vehicle technology uses cobalt 

By: Martin Creamer     Updated 3 hours ago A promising new fuel cell technology, which uses a cobalt-based catalyst, mirrors the world’s current ‘well-to-wheel’ refuelling ecosystem in being designed to allow motorists to call at conventional petrol stations to fill up with the liquid fuel from which hydrogen is extracted and then... 

New fuel cell vehicle technology uses cobalt
Photo by Electriq-Global
Car that uses fuel consisting of mainly water converted into hydrogen and then electricity.

World Bank says Eskom simply too big to fail

By: News24Wire      Updated 4 hours ago The World Bank has argued that Eskom is too big to fail, and the South African economy would not withstand a financial meltdown of the cash-strapped power utility. "It is just too big to allow it to disintegrate, and fixing all these pieces will be costlier than trying to reform it," the bank’s... 

 World Bank says Eskom simply too big to fail

Uganda deports French, Rwandan MTN execs citing national security – police

By: Reuters     Updated 6 hours ago Uganda has deported a French and a Rwandan executive from telecoms group MTN, accusing them of planning to compromise national security, police said on Tuesday. MTN Uganda, a unit of the South African telecoms firm, said its Chief Marketing Officer, Olivier Prentout, was detained at Entebbe... 

Multichoice sweetens Naspers split with dividend plan

By: Reuters     Updated 6 hours ago Africa's biggest pay-TV business Multichoice plans to pay a R2.5-billion dividend two years after leaving its parent of three decades – media and e-commerce group Naspers – and pursuing a listing solo in South Africa. Multichoice CFO Tim Jacobs said on Monday the firm would make its first payment... 

Africa's position as the world's hottest oil and gas frontier to be entrenched this year

By: African News Agency      Updated 7 hours ago The year ahead will be key for the advancement of new exploration and production development projects from West to East Africa in the hydrocarbons market, entrenching the continent’s position as the word’s hottest oil and gas frontier, the African Energy Chamber (AEC) has said. The year however... 

SA on a hard sell at World Economic Forum

By: African News Agency      22nd January 2019 South Africa is on a hard sell strategy at the World Economic Forum (WEF) in Davos in Switzerland, eager to position itself as a primary emerging market allied to world-class infrastructure. President Cyril Ramaphosa will lead a strong team to the 2019 WEF annual meeting as South Africa aims to... 

SA on a hard sell at World Economic Forum

Excise tax increases cost South Africa billions of rand in lost revenue – Econometrix

By: African News Agency      22nd January 2019 The drop in sales volumes of excise-paid tobacco products has resulted in a significant loss of revenue for the government as consumers move to cheaper illicit products, economic research house Econometrix said on Tuesday. Citing National Treasury data, Econometrix said income from tobacco excise... 

Ghosn denied bail yet again with trial still months away

By: Bloomberg     22nd January 2019 Carlos Ghosn’s bail application was rejected again, even after the fallen car titan offered to wear an electronic tracker and be monitored by guards to end his custody that has now lasted more than two months. The latest rejection by a Tokyo court is a win for the prosecutors, who can now keep... 

Nothing's taboo for new IMF chief economist, first woman in job

By: Bloomberg     22nd January 2019 Gita Gopinath has a knack for asking the kind of questions that, not so long ago, might have raised eyebrows inside the International Monetary Fund, where she just took over as chief economist. What if more emerging markets actively managed their currencies, like China does? What if an influx of... 

Ramaphosa arrives in Geneva for ILO report launch

By: African News Agency      22nd January 2019 President Cyril Ramaphosa arrived in  Geneva, Switzerland on Tuesday morning to launch the International Labour Organization’s (ILO's) Global Commission on the Future of Work Report, his spokesperson Khusela Diko said in a statement.  Ramaphosa and Swedish Prime Minister Stefan Löfven are... 

Ramaphosa arrives in Geneva for ILO report launch
President Cyril Ramaphosa

Nigerian commodities king Dangote targets foreign markets in sales push

By: Reuters     22nd January 2019 Africa's richest man, Aliko Dangote, said on Monday he expected to step up exports of cement and other commodities from Nigeria from this year as he focuses on foreign markets to boost sales and generate much-needed hard currency. Dangote told Reuters he expected to have 8 million tonnes of... 

To meet climate goals, world urged to reuse natural resources

By: Reuters     22nd January 2019 More of the billions of tonnes of materials the world uses each year must be recycled and reused to keep climate change in check, researchers said on Tuesday. Only about a tenth of the nearly 93 billion tonnes of materials utilised annually - including minerals, metals, fossil fuels and biomass -... 

ISAF Ithubalethu launches IPO for student accommodation  

By: Tasneem Bulbulia     21st January 2019 Inkunzi Student Accommodation Fund (ISAF) Ithubalethu is aiming to counter the shortage of affordable student accommodation, while enabling access to the property market for the general public, and delivering returns to investors, ISAF Ithubalethu CEO Owen Nkomo outlined on Monday, during a... 

Inkunzi Student Accommodation Fund Ithubalethu CEO Owen Nkomo outlines that fund’s IPO, and future prospects. Video and editing: Nicholas Boyd.

Armscor grants CEO special leave to prepare for State capture inquiry

By: Marleny Arnoldi     21st January 2019 Armaments Corporation of South Africa (Armscor) CEO Kevin Wakeford has requested special leave, after his name was mentioned during testimony before the Zondo Commission Inquiry into State Capture last week. IOL News reported on Sunday that Bosasa’s former COO Angelo Agrizzi last week told the... 

McConnell Dowell boosts order book to R11bn

By: Marleny Arnoldi     21st January 2019 Construction group Aveng’s Australian subsidiary McConnell Dowell, has secured contracts to the value of R8.5-billion in the first half of the 2019 financial year. This supports McConnell’s baseline revenue for financial year 2020 and beyond.  

South African wine grape crop for 2019 ‘marginally larger’ – Vinpro

By: Simone Liedtke     21st January 2019 The 2019 South African wine grape harvest is expected to be only slightly larger than that of 2018, as vineyards are still recovering from a three-year drought, bad weather during fruit set in October and a continued decline in wine grape vineyards, agricultural association Vinpro said in a... 

South African wine grape crop for 2019 ‘marginally larger’ – Vinpro
The 2018 harvest amounted to just over 1.2-million tonnes, 14% smaller than the previous year, mainly owing to the drought

IMF sees weakest global growth in three years as Europe slows

By: Bloomberg     21st January 2019 The International Monetary Fund cut its forecast for the world economy, predicting it will grow at the weakest pace in three years in 2019 and warning fresh trade tensions would spell further trouble. In its second downgrade in three months, the lender blamed softening demand across Europe and... 

IMF sees weakest global growth in three years as Europe slows

Computicket to appeal R20m Competition Tribunal fine

By: Marleny Arnoldi     21st January 2019 Ticketing provider Computicket on Monday said it would appeal a decision by the Competition Tribunal that it used dominance between 2005 and 2010 relating to exclusive agreements with inventory providers for live entertainment events. The Competition Tribunal earlier announced that it had... 

Zimmer Biomet appoints Profica to facilitate smooth office migration

By: Marleny Arnoldi     21st January 2019 Global medical device manufacturer Zimmer Biomet has appointed property and construction solutions company Profica to provide tenant representation and office fitout for a warehouse and office building that Zimmer will occupy. The building is currently under development at the Waterfall... 

Western Cape average dam levels nearly double year-on-year

By: Natasha Odendaal     21st January 2019 The average dam levels in the Western Cape and the dams supplying the City of Cape are considerably higher than the prior two years, data released by the provincial Local Government, Environmental Affairs and Development Planning Department shows. The average dam level in the Western Cape on... 

Smart speakers become fastest growing connected device – report

By: Natasha Odendaal     21st January 2019 Smart speakers, fifth-generation (5G) networks and cloud-based Artificial Intelligence (AI) are the baselines of increased connectivity and potential for innovation this year, the latest ‘Deloitte Global Technology, Media and Telecommunications (TMT) Predictions’ report shows. The eighteenth... 

Mokonyane not aware of any allegations against her at state capture commission

By: News24Wire      21st January 2019 Environmental Affairs Minister Nomvula Mokonyane's office says it knows nothing about claims implicating her in testimony before the state capture commission of inquiry and says it will be "impolitic" to engage reports claiming otherwise. Weekend newspapers reported that Mokonyane would be among... 

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