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Sometimes less is more, says Pitot as he departs Naacam

By: Irma Venter     Updated 1 hour 25 minutes ago A local automotive industry with five vehicle manufacturers producing 150 000 units each a year might be better than seven to eight manufacturers producing between 50 000 and 100 000 vehicles each a year, says former National Association of Automotive Component and Allied Manufacturers (Naacam)... 

Sometimes less is more, says Pitot as he departs Naacam
Photo by Duane Daws
Roger Pitot

Work under way to localise bimodal road-rail cargo technology

By: Terence Creamer     Updated 3 hours ago A domestic homologation process has been initiated for an innovative American bimodal transport solution, which integrates long-distance rail with ‘first- and last-mile’ road legs to provide a door-to-door cargo service. The process began following the recent announcement that South African... 

Work under way to localise bimodal road-rail cargo technology
The RailRunner units carry standard shipping containers

Investors eye nuclear vs political power in South Africa

By: News24Wire      Updated 2 hours 55 minutes ago Political power and nuclear power in South Africa are currently key topics of interest to investors, emerging markets economist Peter Attard Montalto of Nomura said on Monday. "We reiterate our existing views on political power not having shifted, though some risk of erosion of ‘foundations’ is... 

Investors eye nuclear vs political power in South Africa

Basil Read appoints new CFO

By: Creamer Media Reporter      Updated 2 hours 30 minutes ago JSE-listed Basil Read on Tuesday announced the appointment of Talib Sadik as CFO and FD, effective October 1, following the resignation of Amanda Wightman. Chartered accountant Sadik was previously group FD at Times Media, De Beers Group Services and Denel. 

Futuregrowth lifts Land Bank lending freeze

By: Terence Creamer     26th September 2016 The Land Bank announced on Monday that Futuregrowth Asset Management had, with immediate effect, lifted a lending suspension controversially imposed on the bank, as well as five other State-owned companies (SoCs), on August 31. Besides the Land Bank, Futuregrowth also froze any new lending to the... 

Futuregrowth lifts Land Bank lending freeze
Land Bank CEO TP Nchocho

Tender may be issued this year for further development of Constitution Hill

By: Terence Creamer     26th September 2016 The Gauteng Growth and Development Agency (GGDA) is hoping to release a request for proposals (RFP) before the end of 2016 for the further development of the Constitution Hill precinct, on the border of Hillbrow and Braamfontein, in Johannesburg. GGDA CEO Saki Zamxaka says various property... 

Tender may be issued this year for further development of Constitution Hill

Ford, BMW dealerships to be built in R170m Newtown development

By: Irma Venter     26th September 2016 Property investor and developer Atterbury is building premises for two new motor dealerships in the Johannesburg city basin – Joburg City Auto BMW and Joburg City Auto Ford. These showrooms and service facilities, set to open on July 1, next year, are being developed on the northern edge of... 

Ford, BMW dealerships to be built in R170m Newtown development
The Newtown Junction piazza

Geely sponsorship restarts Bloodhound project

By: Irma Venter     26th September 2016 The Bloodhound project has announced a three-year agreement with the Zhejiang Geely Holding Group (ZGH) as its prime sponsor and official automotive partner. The Chinese automotive group – the owner of the Volvo Car Group – will provide technical, as well as financial support to the British... 

Geely sponsorship restarts Bloodhound project
Photo by Stefan Marjoram
The Bloodhound vehicle

AfDB aims to lend Nigeria $4.1bn for power and farming

By: Reuters     Updated 3 hours ago The African Development Bank is looking to provide a total of $4.1-billion to Nigeria over 2016 and 2017, its president said on Monday, as Africa's biggest economy seeks to bridge its budget deficit and improve weak infrastructure. Akinwumi Adesina said the funds would be used to develop the... 

Edenville concludes Rukwa bulk sampling, awaits results

By: Natasha Odendaal     Updated 2 hours 48 minutes ago Aim-listed Edenville Energy has completed its bulk sampling programme at the Rukwa coal-to-power project, in Tanzania, with 20 t of samples being delivered to SGS Laboratories, in Johannesburg, South Africa. While the results from testing are expected in October, the sampling at three different... 

Jacobs Capital, partner invest R300m in recapitalising KZN hardboard manufacturer

By: Shirley le Guern     26th September 2016 Durban-based private equity firm Jacobs Capital and its partner Black Bird Capital are confident that investment of around R300-million will place struggling hardboard manufacturer Masonite back on its feet in the short to medium term.   The troubled company was placed in business rescue in... 

Jacobs Capital, partner invest R300m in recapitalising KZN hardboard manufacturer

Davies urges Tesla to invest in South Africa 

By: African News Agency      26th September 2016 Trade and Industry Minister Dr Rob Davies, who is attending Monday’s Africa Growth and Opportunity Act (Agoa) forum in Washington DC, made the most of an opportunity at a business breakfast on Sunday to encourage an investment by South African-born entrepreneur Elon Musk in the country of his... 

Manufacturing income increased to R2.2tr in 2014 – statistics

By: Anine Kilian     26th September 2016 Although the embattled manufacturing industry’s income grew by 9.4% a year from 2011 to 2014, employment in the sector decreased significantly over the same period, Statistics South Africa’s (Stats SA’s) data shows. Its Manufacturing Industry 2014 report notes that the industry’s income increased... 

Jasco targets internal strategy as company stabilises

By: Natasha Odendaal     26th September 2016 As smart technologies firm Jasco Electronics emerges from a milestone year that represented stability and consolidation, the JSE-listed group will focus on two levers of growth, in addition to its identified group focus areas, in a year set to be marred by worsening economic conditions. Despite... 

Sasol Siyakha Fund secures R20m credit guarantee

By: Creamer Media Reporter      26th September 2016 Up to ten small, medium-sized and microenterprises (SMMEs) are getting a shot in the arm as Sasol’s enterprise and supplier development fund secures a R20-million credit guarantee facility from the Small Enterprise Finance Agency (Sefa). The Sasol Siyakha Fund, which has invested around... 

City of Cape Town connects more backyarders to the power grid

By: African News Agency      26th September 2016 The City of Cape Town’s electricity services department is pumping a further R50 million into its backyarder electrification project in 2016/17, the city said on Sunday. A total of R229.5-million had been spent on this project from inception up until this financial year, mayoral committee member... 

Kenya Airways in talks with 3 to 4 parties on stake sale – CEO

By: Reuters     26th September 2016 Kenya Airways is talking to "about three or four" foreign institutional investors and airlines about buying a stake to raise cash for the lossmaking carrier, its chief executive said on Monday. The airline, 27%-owned by Air France KLM, has been reducing the size of and modernising its fleet,... 

Egypt eyes $10bn in foreign investment as it upgrades infrastructure

By: Reuters     26th September 2016 Egypt hopes to attract $10-billion in foreign direct investment (FDI) next year and will automate the process of establishing a company, its investment chief said, highlighting efforts to revive the economy and earn much-needed hard currency. The most populous Arab country has been scrambling to... 

Gordhan insisted Gigaba’s staff fly economy

By: African News Agency      Updated 11 minutes ago National Treasury turned down a request from Home Affairs Minister Malusi Gigaba for staff travelling with him to fly business class, according to a response to parliamentary question. Finance Minister Pravin Gordhan gave details of instances where treasury received requests for permission to... 

Gordhan insisted Gigaba’s staff fly economy
Photo by Duane Daws
Finance Minister Pravin Gordhan

Dramatic fall in trade growth should be ‘wake-up call’

By: Terence Creamer     Updated 27 minutes ago World trade will expand by only 1.7% in 2017, the slowest pace since the financial crisis of 2009, a new World Trade Organisation (WTO) report warns. The WTO has also lowered its trade-growth forecast for 2017 to between 1.8% and 3.1%, down from 3.6% previously. Director-general Roberto Azevêdo... 

Dramatic fall in trade growth should be ‘wake-up call’
WTO director-general Roberto Azevêdo

Randgold CEO Bristow ‘super excited’ about Africa as ‘next China’ 

By: Martin Creamer     26th September 2016 Africa needs investments coupled with aggressive growth and if correctly managed, will be the world’s "next China", says Randgold Resources CEO Dr Mark Bristow, who has developed half a dozen highly successful gold mines on the continent besides traversing its length and breadth on his motor... 

Randgold CEO Bristow ‘super excited’ about Africa as ‘next China’
Randgold CEO Dr Mark Bristow (centre) with host country management at the Loulo gold mine

Ferrochrome price in sharp rise

By: Martin Creamer     26th September 2016 The European benchmark ferrochrome price for the fourth quarter of 2016 has been settled at 110c a pound, 12.2% up on the 98c-a-pound price of the third quarter. Johannesburg Stock Exchange-listed Merafe Resources said last month that it expected to benefit from renewed positive ferrochrome... 

Ferrochrome price in sharp rise
Photo by Duane Daws
Merafe CEO Zanele Matlala

Jasco turns fortunes around in FY16

By: Natasha Odendaal     26th September 2016 JSE-listed Jasco Electronics on Monday declared a 2c a share dividend as it bounced back into the black with a triple-digit growth in earnings for the year ended June 30. The group’s profit for the year surged 119.2% to R15.9-million, compared with the loss of R82.8-million reported in the prior... 

Rail Road Association to hold AGM

By: Creamer Media Reporter      23rd September 2016 The Rail Road Association of South Africa (RRA) will hold its annual general meeting on Thursday, September 29. The gathering will take place at Scaw Metals’ offices in Germiston from 8:30. The RRA has been critical of what it views as uneven localisation efforts in Transnet’s multibillion-rand... 

Rail Road Association to hold AGM

Motsepe’s ARC buys 18% stake in Afrimat

By: Anine Kilian     23rd September 2016 African Rainbow Capital (ARC), which is owned by billionaire businessperson Patrice Motsepe, has bought an 18.36% stake in JSE-listed Afrimat. “Afrimat is of the view that this will create a long-term and sustainable black economic empowerment partner with certainty around shareholding which will... 

Gauteng govt, JCCI sign MoU to promote SMMEs

By: Megan van Wyngaardt     23rd September 2016 The Johannesburg Chamber of Commerce and Industry (JCCI) and Gauteng MEC for Economic Development, Environment, Agriculture and Rural Development Lebogang Maile on Friday signed a memorandum of understanding (MoU) to ensure that small, medium-sized and micro enterprises (SMMEs) in townships have... 

Gauteng govt, JCCI sign MoU to promote SMMEs
Photo by Duane Daws
MEC Lebogang Maile

Barberton tailings plant lifts output ultra cheaply 

By: Martin Creamer     23rd September 2016 In the 12 months to June 30, gold was produced by the Barberton Tailings Retreatment Plant (BTRP) of Pan African Resources at the exceptionally low all-in cost of $332/oz. While Barberton Mines as a whole had a good financial year underground and on surface, it was the on-surface BTRP that shot... 

Blurb: Pan African CEO Cobus Loots talks to Mining Weekly Online’s Martin Creamer on Barberton gold. Photographs: Duane Daws. Video and Video Editing: Darlene Creamer.

Social media indispensable in 2017 – survey

By: Sane Dhlamini     23rd September 2016 Social media will become an indispensable tool for South African marketers,  politicians, artists, activists, reporters and media personalities next year.    This was according to the 2017 edition of the South African Social Media Landscape, released this week by technology market researchers... 

Social media indispensable in 2017 – survey

BioTherm Energy secures 20 MW solar project in Ghana

By: Anine Kilian     23rd September 2016 Independent power producer BioTherm Energy has won the tender to develop a 20 MW solar project in Ghana. The company will build, own and operate the facility under a 20-year power purchase agreement. 

BioTherm Energy secures 20 MW solar project in Ghana

Namibia's fiscal deficit to narrow on rising mining production, spending cutbacks – BMI

By: Anine Kilian     23rd September 2016 Rising mining production and cutbacks on nonessential spending will see Namibia's fiscal deficit narrow in the coming months, says BMI Research, which is part of Fitch Group. BMI points out in a new report that Namibia's fiscal balance will begin to narrow over 2017, after widening substantially... 

Kibo, Sepco agree to 3-week extension on MCPP development cost determination

By: Natasha Odendaal     23rd September 2016 Aim- and Alt-X-listed Kibo Mining has agreed to a three-week extension for the determination of the final development amount still due by China-based contractor Sepco III as part of a redefined agreement for the progression of Kibo’s Mbeya coal-to-power project (MCPP), in Tanzania. The agreement,... 

ACSA starts with new strategy while reporting good results

By: Keith Campbell     23rd September 2016 Airports Company South Africa (ACSA) has started to implement elements of its new operational strategy, says chairperson Skhumbuzo Macozoma. "It's very important to have sound corporate governance in a company like ACSA," he said at a briefing on Friday. "I'm happy to announce we've finalised a... 

ACSA starts with new strategy while reporting good results
Photo by Duane Daws
ACSA CEO Bongani Maseko

PRASA, Vodacom sign R1bn, 15-year fibre deal

By: Irma Venter     23rd September 2016  Vodacom has signed a 15-year deal with the Passenger Rail Agency of South Africa (PRASA), through its subsidiary Intersite Asset Investments, valued at more than R1-billion. Intersite is responsible for property and asset development within PRASA. It aims to raise additional revenue for the... 

PRASA, Vodacom sign R1bn, 15-year fibre deal

Eskom to use $11bn future earnings for nuclear expansion 

By: Reuters     23rd September 2016 South Africa's power utility Eskom estimates it would have R150-billion ($11-billion) within the next decade to help fund a nuclear expansion programme planned by the government, a senior executive said. In a column in the BusinessDay newspaper, Eskom's group executive for generation, Matshela... 

Eskom to use $11bn future earnings for nuclear expansion
Photo by Duane Daws
Eskom group executive for generation Matshela Koko

Data pricing has come down – Icasa

By: Natasha Odendaal     23rd September 2016 With the current #DataMustFall movement headlining most social media posts and highlighting the high costs of communication and data in South Africa, the Independent Communications Authority of South Africa (Icasa) this week said that data pricing is falling year-on-year. It reports that there... 

Data pricing has come down – Icasa

Engineering News iPhone and Android Apps available for free download

By: Creamer Media Reporter      23rd September 2016 Creamer Media’s readers continue to be part of the mobile revolution.  Over 20% of Creamer Media’s online readers view the websites on their mobile devices. To cater for this growing mobile readership Creamer Media offers an Engineering News Online app for iPhone and Android users.  These apps... 

Engineering News iPhone and Android Apps available for free download

Commission’s ports probe to place spotlight on Transnet’s economic impact

By: Mia Breytenbach     23rd September 2016 State-owned logistics company Transnet, which owns all commercial ports in South Africa and is the sole operator of the country’s container and automotive terminals, has naturally had a major influence over port operations and terminal handling charges. However, that role and dominance have often... 

Commission’s ports probe to place spotlight on Transnet’s economic impact

Date set for nuclear procurement case

By: Creamer Media Reporter      22nd September 2016 A High Court hearing into an application brought by the Southern African Faith Communities’ Environment Institute (Safcei) and Earthlife Africa Johannesburg relating to the legality of South Africa’s nuclear procurement process has been set down for December 13 and 14. The two organisations... 

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