http://www.engineeringnews.co.za
R/€ = 15.82 Change: 0.05
R/$ = 13.26 Change: 0.03
Au 1293.57 $/oz Change: -1.17
Pt 934.00 $/oz Change: 1.00
 

Economy News

National Treasury defends controversial changes in key positions

By: African News Agency      4th September 2017 National Treasury on Monday said the removal of Schalk Human from the post of chief procurement officer, along with two other senior officials, was a case of trying to ensure that  officials don’t act in a particular capacity for too long. “The changes were made in order to avoid a situation... 

Caution creeps in as renewables industry digests implications of 77c/kWh tariff cap

By: Terence Creamer     4th September 2017 South Africa’s solar photovoltaic (PV) and wind industry bodies have added a degree of caution to their initial positive reactions to an announcement by Energy Minister Mmamoloko Kubayi regarding the signing of power purchase agreements (PPAs) for 26 renewable-energy projects that have been on... 

Caution creeps in as renewables industry digests implications of 77c/kWh tariff cap
Photo by Duane Daws
Energy Minister Mmamoloko Kubayi (in the centre) at the September 1 renewables IPP announcement in Pretoria

Domestic travel shrinks in South Africa due to financial hardship – Stats SA

By: African News Agency      4th September 2017 Domestic tourism within South Africa has declined over the past two years due to economic hardships, the Domestic Tourism Survey 2016 (DTS 2016) released by Statistics South Africa on Monday shows. According to the survey, the total number of day trips undertaken within the country decreased from... 

Parsons awarded Economic Society of South Africa lifetime membership

By: Anine Kilian     4th September 2017 North-West University School of Business and Governance economist Professor Raymond Parsons has been awarded an honorary lifetime membership by the Economic Society of South Africa (Essa). In his citation for the award, Essa president Professor Gavin Keeton referred to Parsons' significant... 

South African defence company making major investments to upgrade its facilities

By: Keith Campbell     4th September 2017 Rheinmetall Denel Munition (RDM) will invest R550-million over the next three years to modernise its production facilities to the latest standards, introduce state-of-the-art processes and to increase its capacity, company CEO Norbert Schulze informed Engineering News Online. “We will likely... 

South African defence company making major investments to upgrade its facilities
Photo by Denel
Rheinmetall Denel Munition’s product lines include rocket motors for Denel Dynamics missiles, such as the Mokopa

'We're looking at Outa's State capture documents' – Hawks

By: News24Wire      4th September 2017 The Hawks have confirmed that they have received documents from the Organisation Undoing Tax Abuse (Outa) relating to the charges they laid against numerous people allegedly involved in state capture. "We received volumes and volumes of documents from Outa about state capture…I don’t know what... 

'We're looking at Outa's State capture documents' – Hawks

Transparency, human survival highlighted in panel discussion on business and SDGs at Responsible Business Forum

By: Sane Dhlamini     1st September 2017 The second day of the Responsible Business Forum kicked off in Johannesburg on Friday with a focus on business’s role in the realisation of the 17 sustainable development goals (SDGs) of the 2030 Agenda for Sustainable Development, which was adopted by world leaders in September 2015. The event... 

Transparency, human survival highlighted in panel discussion on business and SDGs at Responsible Business Forum

Boost Competition Act to address concentration, stimulate transformation – Ramaphosa

By: Terence Creamer     1st September 2017 Deputy President Cyril Ramaphosa has called for a broadening of competition policy and legislation to address ongoing structural concentration in the ownership and control in key economic sectors in South Africa, while still continuing to address anticompetitive behaviour by companies. Speaking... 

Boost Competition Act to address concentration, stimulate transformation – Ramaphosa
Photo by Duane Daws
Deputy President Cyril Ramaphosa

Brown extends Eskom deadline, demands more info

By: News24Wire      1st September 2017 Public Enterprises Minister Lynne Brown has extended the 48-hour deadline given to Eskom on Tuesday. She has asked the state utility to provide more information regarding payments and business relations related to the Gupta-linked Trillian firm. 

Brown extends Eskom deadline, demands more info
Photo by Duane Daws
Public Enterprises Minister Lynne Brown

Cabinet calls for any deliberate wrongdoing at National Treasury to be punished

By: African News Agency      1st September 2017 Cabinet on Friday called for any deliberate wrongdoing in the development of government’s Integrated Financial Management System to be punished. The call flowed from Cabinet’s regular fortnightly meeting and followed a week of intense politicking over audit weaknesses identified in the project,... 

Zest WEG Group achieves Level 2 BBBEE status 

By: Mia Breytenbach     1st September 2017 Motor and controls manufacturer WEG subsidiary Zest WEG Group has taken steps to create a broader-based and more sustainable ownership foundation to ensure its compliance with the new Broad-Based Black Economic Empowerment (BBBEE) Codes of Good Practice, which has seen the group achieve a Level 2... 

Zest WEG Group achieves Level 2 BBBEE status
Zest WEG Group CEO Louis Meiring discusses the group’s new empowerment initiative. Video and Editing: Nicholas Boyd.

JSE censures prominent businessman Bheki Sibiya

By: African News Agency      1st September 2017 The Johannesburg Stock Exchange (JSE) on Friday censured prominent businessman Bhekokuhle Sibiya in his capacity as a lead independent director of technology firm, Alviva Holdings, after he was found in breach of the JSE Listing Requirements.  The JSE said Sibiya sold a total of 38 925 Alviva... 

Black industrialist bemoans lack of government support

By: Dylan Slater     1st September 2017 Engineering and fabrication company Oro Projects is struggling to make headway in the engineering and fabrication industry, owing to a lack of support from government departments and financial support institutions, which have been vocal about their willingness to assist black-owned industry.  

Black industrialist bemoans  lack of government support
Photo by Duane Daws
BLACK INDUSTRIALIST Oro Project’s Benoni-based plant is a large industrial fabricator with significant potential to skill and employ people

Cost of rooftop solar can be lowered through use of 12J tax rebate

By: Schalk Burger     1st September 2017 Businesses and property owners can leverage an industrial development-focused tax rebate, Section 12J of the Income Tax Act No 58 of 1962, to reduce the costs of installing solar photovoltaic (PV) systems. Venture capital company Nesa Investment Holdings (NIH) has developed a solar PV rental... 

Industry support evident despite challenges

By: Victor Moolman     1st September 2017 Although the lack of meaningful government involvement has been one of the biggest challenges in the industry, the Aeronautical Society of South Africa (AeSSA) still get support from the Aerospace Industry Support Initiative (AISI), which is part of the Department of Trade and Industry’s... 

Necsa says second reactor would strengthen Pelindaba’s global nuclear medicine position

By: Keith Campbell     1st September 2017 The worldwide nuclear medicine market in 2016 was worth more than $11-billion and is projected to be worth almost $20-billion by 2021. The South African Nuclear Energy Corporation (Necsa), through its use of its SAFARI-1 research reactor and its subsidiary company NTP Radioisotopes, is one of... 

Necsa says second reactor would strengthen Pelindaba’s global nuclear medicine position

Policy limits South African gas economy

By: Marleny Arnoldi     1st September 2017 Policy and legislation on natural gas are currently bottlenecked in South Africa, which creates limits to South Africa’s gas economy growth, says growth strategy company Frost & Sullivan.  

Policy limits South African gas economy
Photo by Bloomberg
COVERING THE BASES South Africa is unlikely to get to a stage of fully understanding the technicalities and geology of indigenous natural gas until it gathers more empirical data

Project to unlock local gas economy

By: Marleny Arnoldi     1st September 2017 The pursuit of piped gas into South Africa from Mozambique could unlock South Africa’s gas economy, says investment and project development company Fortune Capital.  

Project to unlock local gas economy
Photo by Bloomberg
UNLOCKING POTENTIAL Fortune Capital is an entity that is going to enable power players to access gas in South Africa Filename:

Studies point to favourable outlook for vanadium redox flow battery

By: Mia Breytenbach     1st September 2017 There is favourable demand for vanadium redox flow batteries (VRFBs), particularly in the utility and offgrid, as well as minigrid, markets, with demand to peak from 2025 to 2030. This is according to recently concluded market studies, commissioned by Aim-listed Bushveld Minerals’ energy... 

Studies point to favourable outlook for vanadium redox flow battery
Photo by Duane Daws
FORTUNE MOJAPELO There is no longer any doubt about the growth of energy storage globally to gigawatts of annual capacity and billions of dollars in market opportunity

Study urges South Africa to find energy storage niche

By: Mia Breytenbach     1st September 2017 With energy storage considered to be the “new wave” in the energy sector and increasingly becoming a reality, South Africa needs to prepare itself if it wishes to take advantage of the energy storage growth opportunities within the energy storage stationary value chain and the mobility value... 

SAA to introduce network changes

     31st August 2017 South African Airways (SAA) has confirmed it will introduce network changes on the domestic and regional segments of its route network, as part of its implementation of a new five-year corporate plan that seeks to return the company to financial sustainability in the shortest time possible. "The... 

Radebe calls for acceleration in achieving 2030 Agenda for SDGs, support from private sector

By: Ilan Solomons     31st August 2017 Countries worldwide are facing many substantial challenges at this critical juncture in history. Therefore, there is a vital need to ensure accelerated inclusive growth to achieve the 17 sustainable development goals (SDGs) of the 2030 Agenda for Sustainable Development, which were adopted by... 

Radebe calls for acceleration in achieving 2030 Agenda for SDGs, support from private sector
Photo by Duane Daws
Minister in the Presidency for Planning, Performance, Monitoring, Evaluation and Administration Jeff Radebe

Uncertain power price path heightening grid-defection risk, EIUG warns

By: Terence Creamer     31st August 2017 Energy Intensive Users Group of Southern Africa’s (EIUG’s) Piet Van Staden has expressed serious anxiety about the near-term sustainability of South Africa’s electricity industry in light of the prospect of yet more tariffs hikes, which would further damage industrial demand and, in turn, trigger... 

Uncertain power price path heightening grid-defection risk, EIUG warns

Trade surplus falls to R9bn in July

By: Chanel de Bruyn     31st August 2017 South Africa's trade surplus slid to R8.99-billion ($688-million) in July from a revised R10.56-billion surplus in June, data from the revenue agency showed on Thursday. Exports fell 8.7% to R93.1-billion on a month-on-month basis in July, while imports were down 8% to R84.1-billion, the South... 

Cell C disputes Icasa’s view that recapitalisation amounts to licensee control change

By: Schalk Burger     31st August 2017 Telecommunications service provider Cell C on Thursday refuted that its recapitalisation amounted to a transfer of control that would have required approval from the Independent Communications Authority of South Africa (Icasa). “Based on extensive legal advice, there has not been any transfer of... 

Why not just nationalise SARB? – Kganyago

By: News24Wire      31st August 2017 "Why not just nationalise the SA Reserve Bank (SARB)?" governor of the SA Reserve Bank (SARB) Lesetja Kganyago asked during his public lecture at the Unisa Graduate School of Business Leadership on Wednesday evening. "Nationalising SARB will not change anything useful we cannot change in any... 

Why not just nationalise SARB? – Kganyago
Photo by Reuters
Lesetja Kganyago

Gordhan to speak out over Treasury IT mismanagement claims

By: News24Wire      31st August 2017 Claims of financial mismanagement of government's Integrated Financial Management System (IFMS) is part of a well-orchestrated campaign by the "Gupta syndicate", according to former finance minister Pravin Gordhan. Gordhan, who is currently out of the country, said he will provide a comprehensive... 

Don't panic, we are not funding SAA – GEPF

By: News24Wire      31st August 2017 The Government Employees Pension Fund (GEPF) assured its members, pensioners and beneficiaries that it has not received any proposal to help fund South African Airways (SAA). GEPF is Africa’s largest pension fund with more than 1.2-million active members from more than 325 government departments,... 

Denel exits Denel Asia JV 

     31st August 2017 Creamer Media's Chanel de Bruyn speaks to Engineering News Senior Deputy Editor Keith Campbell about State-owned Denel’s decision to exit the controversial Denel Asia joint venture. 

Denel exits Denel Asia JV
Denel exits Denel Asia JV

Zuma receives higher education report from Heher Commission

By: African News Agency      31st August 2017 President Jacob Zuma has received the final report of the Heher Commission on the feasibility of free higher education and would make it public in due course, his office said on Thursday. “The Chairperson of the Commission, Judge Jonathan Heher, presented the report to the President at his... 

Zuma receives higher education report from Heher Commission
President Jacob Zuma

Krugerrand dealers no longer required to be members of SAAND

By: Ilan Solomons     30th August 2017 The Competition Commission and precious metal smelting and refining complex Rand Refinery have agreed that dealers of Krugerrands no longer have to be members of the South African Association of Numismatic Dealers (SAAND). The agreement follows an investigation by the commission into allegations... 

Krugerrand dealers no longer required to be members of SAAND
Photo by Duane Daws
In terms of the agreement, Rand Refinery has undertaken to remove all clauses, in relation to the requirement, from its application forms as well as its website

Brown urges recapitalisation of SA Express amid questions over waste

By: African News Agency      30th August 2017 South African Express CEO Victor Xaba was forced to concede on Wednesday that the loss-making airline did not take firm enough action on irregular spending, after Public Enterprises Minister Lynne Brown reiterated that it needed a cash injection from the State. “Let’s say in all fairness not... 

Poultry industry challenges, drought negatively impact on RCL Foods’ FY17 profit

By: Mia Breytenbach     30th August 2017 The widely reported challenges facing the local poultry industry and the performance of JSE-listed RCL Foods’ chicken business unit decimated the company’s profits in the financial year ended June 30, with the company reporting a 0.8% decrease in earnings before interest, taxes, depreciation and... 

Poultry industry challenges, drought negatively impact on RCL Foods’ FY17 profit
Bloomberg

Kusile Unit 1 brought into full commercial operation well ahead of schedule

By: Samantha Herbst     30th August 2017 Unit 1 of Eskom’s Kusile power station has been brought into full commercial operation, adding 800 MW of much-needed power to help stabilise the national power grid. This means that construction and optimisation of the unit is complete and the operator, Eskom Generation, has taken over the plant... 

Kusile Unit 1 brought into full commercial operation well ahead of schedule
Eskom interim group CEO Johnny Dladla

City of Johannesburg to hold second billing open day

By: Creamer Media Reporter      30th August 2017 The City of Johannesburg will hold its second billing open day at the Parkmore recreation centre on September 2. Ratepayers living in Sandton, Woodmead, Wynberg and surrounding areas will be given the opportunity to raise longstanding billing issues with city officials, who will assist customers... 

South Africa mulls merger of three State-owned airlines

By: Reuters     30th August 2017 South Africa's government is considering merging its three state-owned airlines into one entity, and offering a 25% stake of the holding company to a private equity partner, a cabinet minister said on Wednesday. The loss-making South African Airways, its low-cost arm Mango and SAA Express, which... 

South Africa mulls merger of three State-owned airlines
Photo by Duane Daws
Public Enterprises Minister Lynne Brown

It's official: Vuyani Jarana is SAA's new CEO

By: News24Wire      30th August 2017 Newly appointed South African Airways (SAA) CEO Vuyani Jarana has signed his employment contract with the national carrier, spokesperson Tlali Tlali confirmed on Tuesday. “SAA is pleased to announce that Mr Vuyani Jarana has accepted its offer of employment with the airline. 

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