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Nampak marks 50 years on JSE amid moves to streamline and reduce environmental footprint

By: Terence Creamer     Updated 3 hours ago Packaging group Nampak, which celebrated 50 years on the JSE on February 19, is a markedly different business from the one that has its roots in a cardboard box-making factory established by John Herzberg in Waterkant Street, Cape Town, in 1918. Rising levels of automation across a portfolio of... 

Nampak marks 50 years on JSE amid moves to streamline and reduce environmental footprint

SAA in talks to roll over $650m of debt

By: Reuters     Updated 3 hours ago State-owned airline is in talks with lenders about rolling over $650-million of debt due next month, its finance chief said on Monday, a move that would give the struggling company breathing space to push through a turnaround plan. President Cyril Ramaphosa has made a point of supporting ailing... 

Defence group Denel to seek investment partners – CEO

By: Reuters     Updated 1 hour 22 minutes ago State-owned defence group Denel could sell stakes in some divisions as part of a new strategy to return to profitability within two years, its chief executive said on Tuesday. The company has also asked the government for financial support to help underpin a strategy its board approved last week,... 

Paramount secures armoured vehicle contract with UAE

By: Nadine James     Updated 1 hour 11 minutes ago South African defence and aerospace company Paramount Group has secured a contract with the United Arab Emirates (UAE) for its next generation armoured personnel carrier – Mbombe 4, which was unveiled at defence and security expo IDEX 2019, being held in the Middle East this week.  Manufactured... 

Paramount secures armoured vehicle contract with UAE
Ivor and Eric Ichikowitz

Saldanha Bay IDZ concludes R3bn in investment deals

By: African News Agency      Updated 1 hour 36 minutes ago The Saldanha Bay Industrial Development Zone has concluded investment agreements, which bring the total of signed investors to eight and the investment value to just over R3-billion. This investment includes five international investors from the United Kingdom, Europe, the Middle East and... 

Sun Exchange signs fund agreement with Decentral Energy for solar projects

By: Schalk Burger     Updated 1 hour 17 minutes ago Solar-generation microleasing platform Sun Exchange on Tuesday announced that it had signed an agreement with Johannesburg-based boutique clean energy fund manager Decentral Energy, said Sun Exchange founder and CEO Abe Cambridge. The agreement gives Decentral’s Grovest Energy, an Income Tax Act... 

Ramaphosa’s big growth plan threatened by power cuts

By: News24Wire      Updated 1 hour 40 minutes ago A major 18-sector growth initiative is imperilled by power cuts now ripping up the economy, warns one of the architects of President Cyril Ramaphosa's signature growth strategy. At the State of the Nation Address (SoNA), Ramaphosa said the Public Private Growth Initiative, stewarded by Minister... 

 Ramaphosa’s big growth plan threatened by power cuts
President Cyril Ramaphosa

Kumba pays dividend, boosts safety, explores, creates local jobs

By: Martin Creamer     Updated 3 hours ago Product-improving  Kumba Iron Ore generated hefty operational cash flow, paid a competent final 2018 cash dividend, pressed on with exploration in a new area and supported the creation of 2 600 new jobs in the local community, during a fatality-free, safety-boosted year, characterised by higher... 

Kumba pays dividend, boosts safety, explores, creates local jobs
Kumba Iron Ore CE Themba Mkhwanazi

Africa has opportunity to supply more gas to China

By: Marleny Arnoldi     18th February 2019 Gas demand is expected to overtake coal demand globally by 2030, says Standard Bank Southern Africa oil and gas head Paul Eardley-Taylor. Speaking at Africa Gas Forum, on Monday, he stated that global energy demand was increasing by 1.3% a year, while gas demand was increasing at between 1.7% and... 

Aveng to sell Infraset to Colossal Africa Consortium

By: Tasneem Bulbulia     18th February 2019 JSE-listed Aveng has entered into a binding term sheet for the sale of the Aveng Infraset businesses, comprising the South African division and the Infraset business of the foreign subsidiaries of Aveng Africa, to the Colossal Africa Consortium. Infraset was identified as a noncore asset during... 

Adcock Ingram, Cipla awarded portions of State’s ARV tender

By: Tasneem Bulbulia     18th February 2019 Pharmaceutical manufacturers Adcock Ingram and Cipla have each secured a portion of a tender to provide State-run hospitals with antiretroviral (ARV) medicines over a three-year period from July 1. Adcock was awarded a 12% share of the ARV tender.   

High-flying Amplats sets ‘next wave of strategy’ in motion 

By: Martin Creamer     18th February 2019 Anglo American Platinum (Amplats), which shot the lights out with a set of stupendous cash-splurging, debt-negating, high-dividend-yielding 2018 results, on Monday set its “next new wave of strategy” in motion, which involves extracting the full potential from its operations through people and... 

High-flying Amplats sets ‘next wave of strategy’ in motion
Photo by Creamer Media Chief Photographer Dylan Slater
Anglo American Platinum CEO Chris Griffith

Brian Dames: Why I stepped down from the Eskom task team

By: News24Wire      18th February 2019 Former Eskom CEO Brian Dames said in order to maintain a high standard of ethics, he stepped down from the presidential task team on Eskom when a perceived conflict of interest arose. Dames was speaking alongside SA billionaire Patrice Motsepe at a briefing at the African Energy Indaba held in... 

 Brian Dames: Why I stepped down from the Eskom task team
Photo by Creamer Media
Former Eskom CEO Brian Dames

Africa must have clear plan for using its gas reserves

By: Marleny Arnoldi     18th February 2019 It is vital that Africa has a clear and cohesive vision in place for how it plans to use its gas reserves, says New Partnership for Africa's Development Business Foundation senior project manager John Rocha. Speaking at the Africa Gas Forum, on Monday, he pointed out that African countries have... 

Motsepe rejects Eskom conspiracy claims as ‘ridiculous’, but admits to ‘serious’ perception problem 

By: Terence Creamer     18th February 2019 Black business luminary Patrice Motsepe has labelled as “ridiculous” a recurring allegation that African Rainbow Energy & Power (AREP) is part of an unscrupulous plan to collapse Eskom and supplant the State-owned power utility with independent power producers (IPPs), in which the business would... 

Motsepe rejects Eskom conspiracy claims as ‘ridiculous’, but admits to ‘serious’ perception problem
Photo by Creamer Media
AREP chairperson Patrice Motsepe

Denel explores new growth opportunities in the Middle East, North Africa

By: African News Agency      18th February 2019 State arms company Denel said on Monday it was attending a major global defence exhibition in Abu Dhabi this week to explore new growth opportunities for business in the Middle East and North Africa. Denel said its innovative products and systems would form the centrepiece of the South African... 

Vukile appoints Laurence Cohen CFO designate

By: Tasneem Bulbulia     18th February 2019 Real estate investment trust (Reit) Vukile Property Fund has appointed Laurence Cohen as CFO designate, effective March 1. He will succeed Vukile’s FD Mike Potts and be appointed to the Vukile board of directors on July 1, after Potts’ planned retirement on June 30. 

Vukile appoints Laurence Cohen CFO designate
Laurence Cohen

President Ramaphosa 'urgently' looking into e-tolls, says Makhura 

By: African News Agency      18th February 2019 Gauteng Premier David Makhura on Monday again assured residents in the province that the unwanted e-tolling system was receiving attention from national government. "While the user-pay principle is not in question, there is clear recognition that urban tolling increases the cost of living and is... 

 President Ramaphosa 'urgently' looking into e-tolls, says Makhura

Black farmers urge Mboweni not to hike excise taxes

By: African News Agency      18th February 2019 The recently launched Black Tobacco Farmers Association (BTFA) on Monday called for government to keep excise taxes at their current level as finance minister Tito Mboweni readies to table his maiden Budget this week.  BTFA said their call to action was inspired by the SA Revenue Service's (Sars)... 

Black farmers urge Mboweni not to hike excise taxes
Finance Minister Tito Mboweni

SAA not splitting up, but plans to change operating model – spokesperson

By: News24Wire      18th February 2019 State-owned airline South African Airways (SAA) will not be broken up into three separate entities, but does plan to change its operating model, according to SAA spokesperson Tlali Tlali.  Tlali was responding to a news headline stating CEO Vuyani Jarana said on Monday the cash-strapped airline... 

 SAA not splitting up, but plans to change operating model – spokesperson

Makhura envisages Gauteng as a 'single, multitier, mega-SEZ' 

By: Natasha Odendaal     18th February 2019 As Gauteng Premier David Makhura delivered his last State of the Province Address, on Monday, he envisaged a future wherein Gauteng would grow into a single, multitier, mega-special economic zone (SEZ). Addressing the province, he said South Africa’s most populous province should be raised one... 

Makhura envisages Gauteng as a 'single, multitier, mega-SEZ'
Photo by Creamer Media
Gauteng Premier David Makhura

70 schools in SA red-flagged for structural defects

By: News24Wire      18th February 2019 A tragedy similar to the one at Hoërskool Driehoek is possible at 70 schools in South Africa, after they were red-flagged for structural defects. On February 1, the country mourned the death of four pupils after a concrete slab above a corridor at Hoërskool Driehoek in Vanderbijlpark collapsed.... 

SAA to reorganise in turnaround drive

By: Reuters     18th February 2019 Struggling State-owned airline, South African Airways (SAA) will reorganise into three business units as part of a revamp plan that could also involve the partial sale of its catering unit, its chief executive officer said on Monday. Vuyani Jarana said during a briefing that South African Airways... 

SAA to reorganise in turnaround drive

Bosasa files for voluntary liquidation 

By: African News Agency      18th February 2019 African Global Operations, formerly Bosasa Operations, on Monday announced that its group of companies were filing for voluntary liquidation following the closure of bank accounts and this would lead to 4 500 job losses. "It is with deep regret that the board of directors announces the closure of... 

 Bosasa files for voluntary liquidation
Former Bosasa COO Angelo Agrizzi

M2 motorway to be closed until Oct to allow for bridge rehabilitation

By: Simone Liedtke     18th February 2019 The Johannesburg Roads Agency (JRA) will be closing the M2 motorway between the Crown interchange and Martizburg street to allow for bridge rehabilitation to resume. The road closure will be in effect from 06:00 on February 28 until the end of October. Work on both carriageways is expected to be... 

M2 motorway to be closed until Oct to allow for bridge rehabilitation
Photo by Simone Liedtke
Damages to the underside of the Selby section of the M2 bridge

Cash-flush Amplats ups dividend, studies 100 MW solar possibility

By: Martin Creamer     18th February 2019 The deaths of two mineworkers at the Amandelbult mine marred an outstanding performance by Anglo American Platinum (Amplats), which has paid out a total of R3-billion cash in dividends for the 12 months to end December, recorded record production from the Mogalakwena, Unki and Kroondal mines,... 

Cash-flush Amplats ups dividend, studies 100 MW solar possibility
Photo by Creamer Media
Anglo American Platinum CEO Chris Griffith

African market is opening up to corporate PPAs – Baker McKenzie

By: Marleny Arnoldi     15th February 2019 At a time when electricity tariffs are increasing and the shift towards greener energy is gaining momentum, law firm Baker McKenzie says Africa is starting to see a surge in the signing of corporate power purchase agreements (PPAs).  

Nevada like Witwatersrand of 1970s – Bristow 

By: Martin Creamer     15th February 2019 Nevada is like the Witwatersrand of the 1970s, says new Barrick Gold president and CEO Dr Mark Bristow, whose Randgold Resources is now merged into Barrick to form the world’s biggest gold mining company, which is also an extractor of copper, a metal that Bristow sees as “another gold”. The brand... 

Nevada like Witwatersrand of 1970s – Bristow
Barrick Gold CEO Dr Mark Bristow

Gordhan’s IPP renegotiation proposal triggers ‘breach of contract’ warnings 

By: Terence Creamer     15th February 2019 A report indicating that the South African government may seek to renegotiate power purchase agreements (PPAs) concluded with independent power producers (IPPs) in 2011 and 2012 is raising alarm bells within the industry, which is still recovering from a protracted period of uncertainty created... 

Gordhan’s IPP renegotiation proposal triggers ‘breach of contract’ warnings

Barloworld shareholders approve BEE share scheme Khula Sizwe

By: African News Agency      15th February 2019 JSE-listed Barloworld Group shareholders have voted in favour of the company's broad-based black economic empowerment (BBBEE) share scheme, Khula Sizwe, following an extraordinary general meeting.  The industrial brand management group on Friday, said this transaction will pave the way for it to... 

Pioneer Foods four months revenue up 7.8%, buoyed by UK price inflation in UK

By: African News Agency      15th February 2019 Pioneer Foods said on Friday its turnover increased by 7.8% in the four months to 31 January, primarily driven by price inflation in bread, wheat flour, rice, export fruit and a sound volume growth in these products and breakfast cereals in the UK. The owner of brand names such as Weet-Bix,... 

Grand Parade to close Dunkin', Baskin Robbins in South Africa

By: Reuters     15th February 2019 Grand Parade Investments said on Friday it had filed to close its Dunkin' Donuts and Baskin Robbins franchises in the country due to poor performance and would instead channel capital into its chain of Burger King outlets. "The decision to exit Dunkin' Donuts and Baskin Robbins was made following... 

Mondi expects earnings for 2018 to rise 25% to 29%

By: African News Agency      15th February 2019 Paper and packaging company Mondi said on Friday it expected earnings before interest, taxes, depreciation, and amortization for the year ended December 31 to be above that of the comparable prior year period of €1.48-billion. Mondi, which will release its results on February 28, said special... 

Daimler Trucks upbeat on 2019 prospects, new Arocs expands range

By: Irma Venter     15th February 2019 Daimler Trucks & Buses Southern Africa (DTBSA) CEO Jasper Hafkamp is confident that the momentum seen in the second half of the year in terms of new-truck sales in the local market will continue into 2019. The first half of 2018 was “very bad”, but the outlook improved significantly as the year... 

Daimler Trucks upbeat on 2019 prospects, new Arocs expands range
The Arocs distribution range

Icasa boss sentenced to 20 years in prison for fraud, money laundering 

By: News24Wire      15th February 2019 Independent Communications Authority of South Africa (Icasa) chairperson Rubben Mohlaloga has been sentenced to 20 years in prison for fraud and money laundering. Mohlalonga was sentenced - alongside former acting head of the Land Bank Philemon Mohlahlane and attorney Dinga Rammy Nkwashu - on... 

Icasa boss sentenced to 20 years in prison for fraud, money laundering
Icasa chairperson Rubben Mohlaloga

Eskom’s operational and financial crisis 

15th February 2019 Creamer Media's Chanel de Bruyn speaks to Engineering News Editor Terence Creamer about the operational and financial crisis facing Eskom, the immediate priorities for overcoming the crisis and what impact the proposed unbundling of Eskom is likely to have on the utility in the short term. 

Eskom’s operational and financial crisis. Camerawork and Editing: Creamer Media's Nicholas Boyd.

The world still doesn’t have enough places to plug in cars

By: Bloomberg     15th February 2019 Even in the biggest electric vehicle markets, a driver venturing too far from home can have a hard time finding a place to recharge. Try your luck on California’s Pacific Coast Highway. The roughly 600-mile route between San Diego and San Francisco has dramatic sea cliffs, off-the-grid retreats,... 

Banks urge Ramaphosa to put politics aside in fixing State firms  

By: Bloomberg     15th February 2019 A lobby group representing South African banks urged President Cyril Ramaphosa to prioritise the country’s wider interests rather than securing votes for the ruling African National Congress if he is to boost confidence in the economy before May elections. Ramaphosa’s plan to split its troubled... 

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