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African News Agency

Economic growth the missing key to South Africa's investment drive – Jacko Maree

19th October 2018 Special envoy on investment Jacko Maree on Thursday said that the missing key to South Africa's investment drive was economic growth and confidence in the socio-political and socioeconomic environment of the country.  In April, President Cyril Ramaphosa appointed Maree and four other special... 

Companies face prosecution for fixing gas cylinder prices

19th October 2018 The Competition Commission on Thursday referred to the Competition Tribunal for prosecution five Liquefied Petroleum Gas (LPG) companies for cartel conduct.  The Commission said that Totalgaz Southern Africa, Oryx Oil South Africa, KayaGas, Easigas and African Oxygen (Afrox), have been charged... 

Kibo Energy says submits documents in bid for Tanzania coal to power project

19th October 2018 Africa-focused energy company Kibo said on Friday it had submitted its formal tender qualification document to the Tanzania Electricity Supply Company (Tanesco) for the Mbeya coal to power project, in line with the government’s new initiative to develop independent power projects. "Our visionary... 

Govt ready to woo potential investors at SA Investment Conference

18th October 2018 Confirmed attendees for next week's South Africa Investment Conference - government's attempt to unlock investment to grow the local economy and create jobs - include JSE listed companies with a market capitalisation of R6.5-trillion and Fortune 500 companies with a market cap of US$4-trillion,... 

More trains subject to manual authorisation due to signalling defects, MPs told

17th October 2018 The number of passenger trains on South African railway tracks subject to manual authorisation because of defective signalling systems continues to rise, MPs heard on Tuesday. Briefing Parliament's portfolio committee on transport, the Rail Safety Regulator (RSR) acting chief executive Tshepo... 

South Africa slips in WEF Global Competitiveness Index

17th October 2018 South Africa has fallen another five places in the World Economic Forum Global Competitiveness Index (WEF GCI), placing 67 out of 140 countries. The 2018 WEF GCI, released on Wednesday, scores 140 economies using 98 indicators organised into 12 pillars – institutions, infrastructure, ICT... 

Mboweni slams KPMG over role in VBS scandal

16th October 2018 Finance Minister Tito Mboweni on Tuesday condemned auditing firm KPMG for signing off on the financial statements of failed VBS Mutual Bank even though, according to a South African Reserve Bank report, it was clear that it had a shortfall of about R1-billion. "When you have a big auditing firm... 

Mboweni has received preliminary report on PIC

16th October 2018 Finance Minister Tito Mboweni on Tuesday said he had received a preliminary report on the Public Investment Corporation (PIC), suggesting this would hasten the start date of an inquiry announced by President Cyril Ramaphosa in August. "A preliminary report on the PIC was given to me by the deputy... 

Eskom executive for generation Thava Govender quits

15th October 2018 Eskom's group executive for generation, Thava Govender, on Monday tendered his resignation after assuming the position only in March this year, the power utility's spokesperson Khulu Phasiwe said. Govender, who was also acting group executive of risk and sustainability, has worked for Eskom for... 

Numsa plastic sector workers to strike over wages

15th October 2018 Thousands of National Union of Metalworkers of South Africa are expected to strike in more than 450 companies in the plastic sector on Monday over wages and benefits, the union said. Numsa said these workers had, until 2016, enjoyed the same rights and benefits as those in engineering, but the... 

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