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Economy News

Companies face prosecution for fixing gas cylinder prices

By: African News Agency      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... 

Tech, fashion showcased in iconic African designs

By: Natasha Odendaal     19th October 2018 A successful campaign aimed at bringing to life the transformative capabilities of data has revealed the combination of the power of technology and fashion and turned a concept into a dialogue. A thought-provoking project under the bannered theme “Fabric” undertaken by Siemens in August... 

IRP 2018 suffers from major failings, nuclear analyst claims

By: Rebecca Campbell     19th October 2018 South Africa's Integrated Resource Plan (IRP) 2018 contained serious flaws which significantly undermined confidence in its recommendations. So affirmed University of the Witwatersrand Honorary Research Fellow and South African Network for Nuclear Education, Science and Technology National... 

Uncertainty causing slowdown in hydraulics industry

By: Jessica Oosthuizen     19th October 2018 There has been a decline in new projects locally, owing to economic uncertainty, with many clients are reducing costs and spending on equipment only where and when required, says hydraulic and pneumatic equipment manufacturer and supplier Germiston Hydraulics MD Archie Leitch. “Most of the... 

Uncertainty causing slowdown in hydraulics industry
INDUSTRY SLOWDOWN Most of the company’s work comes from repairs and replacement of existing components as clients are trying to keep their costs down

South African mint shines in Africa

By: Natasha Odendaal     19th October 2018 The South African Mint’s (SA Mint’s) master craft and secure manufacturing has made it one of the top preferred manufacturers of coins and coin blanks in the world, and a valuable partner across Africa. The famous producer of circulation and commemorative coins has, on its CV, an impressive list... 

EOH hopes restructuring will create new growth platform

By: Schalk Burger     19th October 2018 JSE-listed information technology group EOH has separated into two companies as part of its work to renew the business and position it for growth. The EOH-branded information and communication technology (ICT) business will focus on digital services in a digitising economy and the Nextec company... 

Regional carrier SA Express continues to re-establish its route network

By: Rebecca Campbell     19th October 2018 State-owned domestic and regional airline SA Express, as part of its relaunch strategy, has reinstated two more of its services. This is part of its plan to, as soon as possible, re-establish its best-performing routes. The two routes concerned are the domestic Johannesburg-Hoedspruit (Mpumalanga... 

Plain packaging suggested as safety measure

By: Thabi Madiba     19th October 2018 To reduce tobacco-related deaths that are estimated to amount to seven-million people a year globally, the Department of Health published a proposed Control of Tobacco Products and Electronic Delivery Systems Bill in May for broader public comment, which will regulate all tobacco products to be... 

Plain packaging suggested as  safety measure
Photo by Bloomberg
HARMFUL Plain packaging will limit the use of tobacco

Packaging market volumes declines

By: Thabi Madiba     19th October 2018 The potential imposition of an Extended Producer Responsibility (EPR) tax by the Department of Environmental Affairs will have a negative impact on the packaging industry, which may result in the collapse of numerous packaging manufacturers in South Africa, says Packaging South Africa executive... 

Alibaba’s Jack Ma to speak at Ramaphosa’s Investment Conference dinner 

By: Terence Creamer     18th October 2018 Chinese tech sensation Jack Ma will deliver the keynote speech at a dinner to be hosted by President Cyril Ramaphosa on October 26 as part of the inaugural South Africa Investment Conference. The conference will take place at the Sandton Convention Centre, in Gauteng, from October 25 to 27, in... 

Alibaba’s Jack Ma to speak at Ramaphosa’s Investment Conference dinner
Jack Ma

South Africa elected chair of ACF

18th October 2018 South Africa has been elected chair of the continental competition body, the African Competition Forum (ACF).   The body, which comprises 31 members and five regional competition agencies, voted for three positions that include the chair, vice chair and the steering committee at a biennial... 

South Africa elected chair of ACF

M&A activity slowly increasing in Africa

By: Marleny Arnoldi     18th October 2018 Merger and acquisition (M&A) activity has been slower in South Africa, compared with prior years; however, other African countries have seen an increase in deals closed, said Hogan Lovells partner Sibongile Solombela at the firm’s Africa Forum conference held on Thursday. M&A activity is still... 

Getting Africa fit for the future requires good governance – Africa Forum

By: Marleny Arnoldi     18th October 2018 Law firm Hogan Lovells Africa head and partner Andrew Skipper on Thursday opened the firm’s Africa Forum conference by stating that, in Africa, there is a combination of optimism and scepticism, but stressed that the available opportunities were enormous. “Currency, corruption and certainty need... 

Getting Africa fit for the future requires good governance – Africa Forum
Business Leadership South Africa CEO Bonang Mohale

Govt ready to woo potential investors at SA Investment Conference

By: African News Agency      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,... 

Govt ready to woo potential investors at SA Investment Conference
Photo by Dylan Slater
Economic Development Minister Ebrahim Patel

South African slump batters smaller neighbours protecting rand peg

By: Bloomberg     18th October 2018 South Africans aren’t the only ones struggling through the country’s economic slump. The fortunes of Lesotho, Namibia, and eSwatini, formerly known as Swaziland, are beholden to developments in their larger neighbor with their exchange rates pegged to the rand, the worst-performing major currency... 

Ramaphosa orders inquiry at State pension fund

By: Reuters     18th October 2018 President Cyril Ramaphosa on Wednesday appointed a judicial inquiry into the R2-trillion State pension fund, a government gazette said, following corruption allegations. The PIC is Africa's biggest pension fund and the biggest investor in South Africa's economy holding a large volume of bonds... 

Ramaphosa orders inquiry at State pension fund
President Cyril Ramaphosa

Draft IRP comment deadline nears 

18th October 2018 Creamer Media's Chanel de Bruyn speaks to Engineering News Editor Terence Creamer about the upcoming deadline for public comment on the draft Integrated Resource Plan (IRP), the main areas of contention and what Cabinet is likely to decide when deliberating on the final IRP. 

Draft IRP comment deadline nears
Draft IRP comment deadline nears

African countries can leapfrog technologies, if they understand the requirements

By: Rebecca Campbell     17th October 2018 The world, in trade and industrial terms, is being disrupted by both technological and political developments, providing opportunities but also posing risks to African countries. So highlighted University of Cape Town Mandela School of Public Governance Professor Carlos Lopes. On the... 

Sanral e-toll proposals are desperate threats – Outa

By: Sashnee Moodley     17th October 2018 The South African National Roads Agency Limited’s (Sanral’s) various proposals to try and force motorists to pay outstanding e-toll bills are desperate threats and will be extremely difficult to implement, said the Organisation Undoing Tax Abuse (Outa) on Wednesday. Sanral CEO Skhumbuzo Macozoma... 

Sanral e-toll proposals are desperate threats – Outa

Latest WEF global competitiveness report raises red flags for South Africa

By: Simone Liedtke     17th October 2018 The World Economic Forum’s (WEF’s) latest findings in its Global Competitiveness Report for 2018/19 again raised several flags about factors in South Africa’s economic performance, which are having a serious negative impact on its international competitiveness, says North West University... 

Informal waste pickers should be integrated into formal waste management sector, suggests analyst

By: Marleny Arnoldi     17th October 2018 The informal waste economy in South Africa has been largely responsible for the high rates of post-consumer material recycling that have been achieved, GreenCape Sector Development Agency waste economy analyst Dr Kirsten Barnes noted during a presentation at WasteCon 2018, on Wednesday. Her... 

South Africa slips in WEF Global Competitiveness Index

By: African News Agency      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... 

South Africa slips in WEF Global Competitiveness Index

EnviroServ returning to its roots following Shongweni malodour issue

By: Simone Liedtke     16th October 2018 After acknowledging that its KwaZulu-Natal-based Shongweni landfill was a contributor to malodour, waste management company EnviroServ has returned to its “old way of disposing of waste”, which comprises using lime to raise the alkalinity (pH) levels at its landfill sites. This decision,... 

EnviroServ returning to its roots following Shongweni malodour issue
Shongweni landfill, in KwaZulu-Natal.

Moody's ratings review of South Africa to come after next week's budget – Treasury

By: Reuters     16th October 2018 South Africa expects Moody's to release its ratings review after next week's medium term budget policy statement (MTBPS), Dondo Mogajane, the director general of the National Treasury said on Tuesday. Mogajane said he met Moody's representatives at an international financial conference in Bali... 

Mboweni slams KPMG over role in VBS scandal

By: African News Agency      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 slams KPMG over role in VBS scandal
Finance minister Tito Mboweni

Used oil industry offering significant job creation potential, says foundation

By: Simone Liedtke     16th October 2018 Although still relatively young in South Africa, the economic contribution to the country through job creation in the used oil sector is looking very promising, according to a study commissioned by the Recycling Oil Saves the Environment (Rose) Foundation. A survey commissioned by the foundation... 

Mboweni has received preliminary report on PIC 

By: African News Agency      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... 

Mboweni has received preliminary report on PIC
President Cyril Ramaphosa & Finance Minister Tito Mboweni

Treasury says recession, falling revenue dent public finances

By: Reuters     16th October 2018 South Africa will struggle to finance the public services that form the largest part of its budget due to falling revenues and an economic recession, the National Treasury told lawmakers on Tuesday. Africa's most industrialised economy slipped into recession in the second quarter for the first... 

Messe München South Africa acquires Air Cargo India, Air Cargo Africa exhibitions

By: Simone Liedtke     16th October 2018 International exhibition organiser Messe München has bought the Air Cargo India and Air Cargo Africa exhibitions from Indian publishing house Stat Trade Times. Air Cargo Africa is the largest air cargo trade fair in Africa, attracting over 80 exhibitors and 2 000 visitors from across the continent.  

CSIR seeks municipal partners for energy master plan pilot project 

By: Terence Creamer     16th October 2018 The Council for Scientific and Industrial Research (CSIR) aims to partner with a metropolitan council and a district municipality to compile pilot municipal energy master plans for electricity (MEMPs), which will provide the two councils with insight into the best electricity supply blends for... 

CSIR seeks municipal partners for energy master plan pilot project
CSIR Energy Centre head Dr Clinton Carter-Brown

Long4Life appoints CFO

By: Creamer Media Reporter      15th October 2018 JSE-listed Long4Life has appointed Mireille Levenstein CFO, effective November 1. She will succeed Peter Riskowitz, who is retiring on October 31. 

SA yet to achieve land reform in urban areas, says deputy minister

By: News24Wire      15th October 2018 There has not been any substantial land reform and restitution in urban areas in South Africa. So says Deputy Minister for Cooperative Governance and Traditional Affairs Andries Nel, who was speaking at the Planning Africa 2018 conference on Monday. 

SA yet to achieve land reform in urban areas, says deputy minister

TNPA tests helicopter service at Cape Town port 

By: Simone Liedtke     15th October 2018 Transnet National Ports Authority (TNPA) is exploring options to introduce a helicopter service at its Port of Cape Town to assist with operations during major swells and to increase the availability of service during stormy conditions. With Cape Town having been plagued recently by... 

Seifsa elects ‘most transformed’ board to date

By: Simone Liedtke     15th October 2018 Arabela Holdings executive chairperson Elias Monage has been elected president of the Steel and Engineering Industries Federation of Southern Africa (Seifsa) and chairperson of its board of directors, with effect from October 12. Monage was elected president during Seifsa’s seventy-sixth annual... 

South Africa committed to African air transport liberalisation – Minister

By: Rebecca Campbell     12th October 2018 South African Transport Minister Dr Blade Nzimande reaffirmed on Friday the country’s commitment to the implementation of the Yamoussoukro Decision (YD) on liberalising air transport across Africa. He did so in a speech to the 48th annual general meeting of the Airlines Association of Southern... 

South Africa committed to African air transport liberalisation – Minister
Photo by Duane Daws/Creamer Media
Dr Blade Nzimande

Steel Awards showcase resilience, workmanship in South African steel industry

By: Simone Liedtke     12th October 2018 South African Institute of Steel Construction (SAISC) CEO Paolo Trinchero believes the industry continues to produce “outstanding work, [which] demonstrates its capability and expertise”. Speaking at its yearly Steel Awards function on Thursday evening, he said there was continued perseverance in... 

Steel Awards showcase resilience, workmanship in South African steel industry

KZN MEC unveils 25 planned projects to attract R200bn investment

By: Marleny Arnoldi     12th October 2018 KwaZulu-Natal Economic Development, Tourism and Environmental Affairs MEC Sihle Zikalala on Friday unveiled his portfolio of investment opportunities, which will result in R200-billion being pumped into the province’s economy over the next few years. Addressing captains of industry during an... 

KZN MEC unveils 25 planned projects to attract R200bn investment
KZN Economic Development, Tourism and Environmental Affairs MEC Sihle Zikalala

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