http://www.engineeringnews.co.za
R/€ = 16.05 Change: -0.08
R/$ = 14.18 Change: -0.06
Au 1327.79 $/oz Change: 4.74
Pt 809.09 $/oz Change: 3.99
 

Economy News

Global acclaim for South Africa’s heart transplant commemorative coin

By: Simone Liedtke     12th February 2019 The South African Mint’s R2 commemorative coin depicting the world’s first successful human-to-human heart transplant received an accolade at this year’s Coin of the Year (COTY), held earlier this month in Berlin, Germany. The sterling silver Crown coin was the second in a series of coins... 

Marginal decrease in South Africa’s unemployment rate

By: Tasneem Bulbulia     12th February 2019 South Africa’s official unemployment rate decreased marginally by 0.4 of a percentage point to 27.1% in the final three months of 2018, Statistics South Africa (Stats SA) reported on Tuesday. The Quarterly Labour Force Survey (QLFS) indicates the number of employed people increased by 149 000 to... 

Minister withdraws telecoms amendment Bill

By: Simone Liedtke     12th February 2019 Communications Minister Stella Ndabeni-Abrahams has withdrawn the Electronic Communications Amendment Bill, which was tabled before Parliament in October last year. This decision, she explained in a statement on Tuesday, would enable further consultations and to align the Bill with the drive... 

Battle lines drawn as opposition parties contest Ramaphosa’s Eskom unbundling plan  

By: Terence Creamer     12th February 2019 The future structure of South Africa’s debt-laden electricity producer Eskom emerged as the central topic during the debate on President Cyril Ramaphosa’s February 7 State of the Nation Address (SONA), in which he announced that the utility would be split, under Eskom Holdings, into three... 

Battle lines drawn as opposition parties contest Ramaphosa’s Eskom unbundling plan

KAP grows interim revenue

By: Schalk Burger     12th February 2019 JSE-listed KAP Industrial Holdings grew its revenue by 16% to R13.29-billion in the interim period to the end of December, up from R11.48-billion during the first half of 2018, the company reported on Tuesday. The diversified industrial firm, however, posted lower headline earnings of... 

ConCourt dismisses Moyane application for leave to appeal his dismissal 

By: African News Agency      12th February 2019 The Constitutional Court on Tuesday, dismissed former South African Revenue Service (SARS) Commissioner Tom Moyane’s application for leave to appeal his dismissal. "The Constitutional Court has considered this application for leave to appeal. It has concluded that the application should be... 

 ConCourt dismisses Moyane application for leave to appeal his dismissal
Photo by Creamer Media
Tom Monyane

EOH tumbles as Microsoft moves to pull resale licence

By: Schalk Burger     12th February 2019 Shares in information technology services company EOH plunged on Tuesday as the company announced that software multinational Microsoft planned to terminate its channel partner agreement with EOH Mthombo within 30 days. The impact on profit of no longer being a direct reseller will be about... 

Reserve Bank on inflation drivers

By: African News Agency      12th February 2019 Deputy governor of the South African Reserve Bank (SARB) Daniel Mminele said on Tuesday that the country's high inflation rate was driven by a rigid wage and price setting process, lack of competition and expectations from private economic agents. In recent years, South Africa's consumer price... 

Outa calls for bold decisions to end load shedding

By: African News Agency      12th February 2019 The Organisation Undoing Tax Abuse (Outa) on Tuesday called on government to make bold interventions to minimise load shedding by the State-owned power utility. This as Eskom on Monday unexpectedly began cutting off power supply with stage 4 load shedding after six power generating units tripped.... 

Outa calls for bold decisions to end load shedding

Opinion: Are there really more jobs in coal than in renewables? 

By: Tobias Bischof-Niemz     12th February 2019 There is considerable support in South Africa for the notion that a transition in the electricity system from coal to renewable energy will trigger a jobs bloodbath at both Eskom and the Mpumalanga coal mines. A detailed analysis of the job numbers, however, suggests quite the opposite. In fact,... 

Opinion: Are there really more jobs in coal than in renewables?
Dr Tobias Bischof-Niemz

An Africa invisible to Blackstone is winning back investors

By: Bloomberg     12th February 2019 The African investment roller-coaster shows just how hard it has been to make bets on the continent pay off. After two years of declines, the region had inflows of foreign direct investment last year, thanks to a revival of interest in South Africa and a more stable environment in Egypt. 

Eskom to take 3 000 MW off the grid in rotational powercuts

By: African News Agency      12th February 2019 State power company Eskom said it would implement rolling blackouts for a third straight day on Tuesday, taking 3 000 MW off the load at any given time to ease pressure on the national grid. It said generating units that had broken down unexpectedly had returned to service, but emergency reserves... 

Eskom to take 3 000 MW off the grid in rotational powercuts

Ramaphosa says Eskom power cuts 'most worrying'

By: Reuters     12th February 2019 South Africa's president Cyril Ramaphosa said on Monday the prospect of more power cuts by utility Eskom were "most worrying". The cash-strapped company warned of wider controlled power cuts on Monday after six additional generating units unexpectedly went offline. 

Ramaphosa says Eskom power cuts 'most worrying'
President Cyril Ramaphosa

New statistics point to renewables playing a role in load-shedding mitigation  

By: Terence Creamer     11th February 2019 Newly released statistics on the performance of South Africa’s small, but expanding, renewable-energy fleet point to a positive contribution from the country’s wind and solar plants during those hours towards the end of 2018 when Eskom resorted to load-shedding. Compiled by the Council for... 

New statistics point to renewables playing a role in load-shedding mitigation
CSIR Energy Centre principal engineer Jarrad Wright

Gordhan meeting Eskom executives over power crisis 

By: Reuters     11th February 2019 Public Enterprises Minister Pravin Gordhan is meeting executives from state power firm Eskom on Monday to find solutions to the country's electricity crisis, Eskom spokesperson Khulu Phasiwe told Reuters. Eskom said on Monday it would cut 4 000 MW from the national grid from 13:00 after six... 

Gordhan meeting Eskom executives over power crisis
Photo by Bloomberg
Public Enterprises Minister Pravin Gordhan

President initiates remedial action on Mogajane appointment

By: News24Wire      11th February 2019 The Presidency has informed the Office of the Public Protector that President Cyril Ramaphosa has initiated remedial action in line with the report of the Public Protector on the appointment of National Treasury Director General Dondo Mogajane.   On 18 December 2018, the Public Protector issued a... 

 President initiates remedial action on Mogajane appointment
National Treasury Director General Dondo Mogajane

Eskom says risk of rotational power cuts high for Monday

By: African News Agency      11th February 2019 State power utility Eskom said the risk for staggered powercuts was high for Monday after implementing the first loadshedding since early December on Sunday. "The probability of rotational loadshedding remains high tomorrow as a result of a shortage of capacity due to a number of generating units... 

Eskom says risk of rotational power cuts high for Monday

Business, industry comment on positives, negatives of SoNA 2019 

By: Marleny Arnoldi     8th February 2019 The Steel and Engineering Industries Federation of Southern Africa (Seifsa) and many other industry bodies and companies have welcomed President Cyril Ramaphosa’s State of the Nation Address (SoNA), which was delivered on Thursday evening. His war on corruption and focus on economic growth,... 

Investec says Sona focused on reviving growth with enhanced policy certainty 

By: African News Agency      8th February 2019 Investec economist Kamilla Kaplan said on Friday that President Cyril Ramaphosa's State of the Nation address (Sona) reaffirmed the key economic policy objective of reviving fixed investment rates in a bid to place the economy on a sustainable faster economic growth path. Ramaphosa's Thursday... 

Investec says Sona focused on reviving growth with enhanced policy certainty
President Cyril Ramaphosa

Ramaphosa confirms Eskom restructuring 

8th February 2019 Creamer Media's Chanel de Bruyn speaks to Engineering News Editor Terence Creamer about President Cyril Ramaphosa’s confirmation that power utility Eskom will be split into three independent entities, what this will mean for the utility and its customers, and if it will be enough to put Eskom on... 

Ramaphosa confirms Eskom restructuring
Ramaphosa confirms Eskom restructuring

Ramaphosa floundering on job creation, says IRR

By: African News Agency      8th February 2019 The south African Institute of Race relations (IRR) said on Thursday that it found President Cyril Ramaphosa’s State of the Nation Address was floundering especially on the creation of jobs.  Dr Frans Cronje, IRR chief executive, said their research demonstrated a close relationship between... 

AI and machine learning expected to boost productivity

By: Schalk Burger     8th February 2019 An increase in the productivity and pace of business processes can be expected owing to the use of artificial intelligence (AII) and machine learning (ML), says cloud service firm Oracle South Africa MD Niral Patel. An autonomous enterprise requires less time for manual tasks and lower chances of... 

Adapt IT aims to expand African footprint

By: Schalk Burger     8th February 2019 JSE-listed information technology services company Adapt IT has grown its turnover by 4% year-on-year to R667-million and its earnings before interest, taxes, depreciation and amortisation (Ebitda) by 10% year-on-year to R118-million for the six months ended December 31. The company’s headline... 

Denel urges govt to use, support its new cybersecurity unit

By: Rebecca Campbell     8th February 2019 State-owned defence industrial group Denel has urged the Government to support the development of and make use of the capabilities of the group’s recently established division, Denel Sovereign Security Solutions (Denel S3). The aim is to ensure that cyber security for Government information and... 

Ramaphosa promises ‘meaningful consultation’ as he confirms split of Eskom into three units 

By: Terence Creamer     7th February 2019 President Cyril Ramaphosa confirmed on Thursday that South Africa’s embattled State-owned electricity producer would be split, under Eskom Holdings, into three separate entities – generation, transmission and distribution – in an effort to bring credibility to the turnaround of the utility and to... 

Ramaphosa promises ‘meaningful consultation’ as he confirms split of Eskom into three units
Photo by Reuters
President Cyril Ramaphosa

ASJV denies it terminated Mtentu project owing to alleged ‘financial inability’

By: Simone Liedtke     7th February 2019 Aveng and Strabag International on Thursday reasserted that the Aveng-Strabag Joint Venture (ASJV) had terminated the Mtentu river bridge contract as a result of force majeure, adding in a statement that the termination “had nothing to do with either of the ASJV members’ financial ability to... 

Education challenges remain an impediment to South Africa’s growth

By: Simone Liedtke     7th February 2019 With only moderate expectations for South Africa’s economic growth this year, especially amid political uncertainty ahead of the national elections, part-time lecturer at the Wits School of Governance professor Ebrahim Fakir on Thursday said that, especially in the business environment, “people... 

Steel group to approach Nersa for power-tariff relief  

By: Terence Creamer     7th February 2019 Steel producer ArcelorMittal South Africa (AMSA) says it will submit site-specific applications to the National Energy Regulator of South Africa (Nersa) to secure tariff relief from Eskom for its operations in Gauteng, KwaZulu-Natal and the Western Cape. The submissions will be made in line with... 

Steel group to approach Nersa for power-tariff relief
AMSA CEO Kobus Verster on the threat posed by power hikes and on the group's plan to approach the regulator for relief. Camera Work & Editing: Darlene Creamer. Recorded: 7.2.2019

Solar Mining Services helps to boost the Mpumalanga economy 

By: Kim Cloete     7th February 2019 Solar Mining Services, a manufacturer and supplier of explosives, accessories and blasting services for the mining industry, has made strides in growing its business in South Africa. It has created more than 100 jobs and invested R500-million in South Africa since setting up in the country in... 

Solar Mining Services helps to boost the Mpumalanga economy
Solar Mining's Charles Hurly discusses the company's product offerings and its growth plans, while CEO Desmond Pillay talks about the company's impact on the Mpumalanga economy. Video and editing: Nicholas Boyd.

South African exporters urged to exploit Germany’s new Africa-specific initiatives

By: Nadine James     7th February 2019 South African exporters should take advantage of new German initiatives on Africa, as they are geared towards stimulating business, trade and economic development, South Africa’s Foreign Economic Representative in Germany Jacob Moatshe stated at the Fruit Logistica Berlin trade fair, on... 

South African exporters urged to exploit Germany’s new Africa-specific initiatives
South Africa's Foreign Economic Representative in Germany Jacob Moatshe

Mboweni appoints panel to assist in appointment of Sars commissioner  

By: Nadine James     7th February 2019 Finance Minister Tito Mboweni has appointed a panel to interview and recommend a shortlist of potential candidates for the position of the Commissioner of the South African Revenue Service (Sars). The President appoints the Sars Commissioner, but the Finance Minister is responsible for overseeing... 

Tribunal confirms Alcon Marepha’s settlement and R1.37m fine

By: Marleny Arnoldi     7th February 2019 The Competition Tribunal on Wednesday confirmed, as an order, a settlement agreement between power cable supplier Alcon Marepha and the Competition Commission, with Alcon to pay an administrative penalty of R1.37-million. Alcon admitted to collusive tendering through the submission of cover... 

AMSA reports first profit since 2010 on back of higher steel prices  

By: Terence Creamer     7th February 2019 Following years of sustained losses, steel producer ArcelorMittal South Africa (AMSA) reported a full-year profit in 2018, on the back of a 12% rise in average realised prices and a 5% increase in sales volumes, supported by a 21% rise in export sales. The company last reported a full-year profit... 

AMSA reports first profit since 2010 on back of higher steel prices
New AMSA CFO Desmond Maharaj on the contribution made by the sale of Macsteel International Holdings to AMSA's net borrowings. Camera Work & Editing: Darlene Creamer. Recorded: 7.2.2019

Demand in global air freight market grew by 3.5% – Iata

By: Simone Liedtke     6th February 2019 The International Air Transport Association (Iata) on Wednesday released its 2018 full year data for global air freight markets, which showed that demand, measured in freight tonne kilometres (FTKs), had grown by 3.5% year-on-year. This growth, the association said, was significantly lower than... 

Sappi delivers strong Q1 performance despite difficult operating environment 

By: Simone Liedtke     6th February 2019 Despite a difficult operating environment, diversified woodfibre company Sappi’s earnings before interest, taxes, depreciation and amortisation (Ebitda) increased by 15% year-on-year and its profit by 29% year-on-year in the quarter ended December 31. Profitability for the first quarter of the... 

Sappi delivers strong Q1 performance despite difficult operating environment
Sappi CEO Steve Binnie

Minerals Council’s national platinum strategy targets real potential 

By: Martin Creamer     6th February 2019 Minerals Council South Africa on Wednesday launched a national platinum strategy, which aims at sustaining a million jobs and contributing R8.2-trillion to South Africa’s economy by 2050. Speaking at a media conference at Investing in African Mining Indaba on Wednesday, Minerals Council CEO Roger... 

Minerals Council’s national platinum strategy targets real potential
Photo by Dylan Slater
Minerals Council CEO Roger Baxter

Germany presses for changes in EU competition rules after Siemens/Alstom deal blocked

By: Reuters     6th February 2019 Europe should change its competition rules to facilitate cross-border mergers and create European champions which can compete with rivals from China and the United States, German Economy Minister Peter Altmaier said on Wednesday. Siemens and Alstom's plan to create a European rail champion... 

Latest News

more

Latest Videos

more

Projects

more

Topics In These Articles

RSS Feed

About

Engineering News is a product of Creamer Media.
www.creamermedia.co.za

Other Creamer Media Products include:
Mining Weekly
Research Channel Africa
Polity

Read more

Subscriptions

We offer a variety of subscriptions to our Magazine, Website, PDF Reports and our photo library.

Subscriptions are available via the Creamer Media Store.

View store

Advertise

Advertising on Engineering News is an effective way to build and consolidate a company's profile among clients and prospective clients. Email advertising@creamermedia.co.za

View options
Free daily email newsletter Register Now
Register Close