http://www.engineeringnews.co.za
R/€ = 16.49 Change: 0.18
R/$ = 13.99 Change: 0.17
Au 1294.20 $/oz Change: 4.20
Pt 953.50 $/oz Change: 5.50
 

Economy News

Eskom a ‘risk to entire economy’, Gigaba says as he reaffirms unaffordability of nuclear 

By: Terence Creamer     25th October 2017 As guarantor over a significant portion of Eskom’s debt, the prevailing governance problems at the State-owned utility were of “grave concern” and had become an “enormous risk” to government and the entire economy, Finance Minister Malusi Gigaba said on Wednesday. Delivering his first Medium-Term... 

Equity partner to be sought for State airlines as SAA gets another R10bn bail-out

By: Terence Creamer     25th October 2017 Finance Minister Malusi Gigaba says government will pronounce on a plan to consolidate the State’s aviation assets and bring in a strategic equity partner after he meets with the new board of South African Airways (SAA), which was unveiled on October 19. Delivering his maiden Medium-Term Budget... 

Equity partner to be sought for State airlines as SAA gets another R10bn bail-out

Public sector wages under the spotlight as Gigaba seeks a solution

By: Natasha Odendaal     25th October 2017 A civil service wage agreement surpassing Consumer Price Index (CPI) inflation by even one point will substantially widen the current shortfall in departmental budgets by billions of rands and further crowd out other areas of spending. The Medium-Term Budget Policy Statement (MTBPS), tabled on... 

Public sector wages under the spotlight as Gigaba seeks a solution

Various State assets being identified for disposal as Gigaba drops deficit and debt bombshells 

By: Terence Creamer     25th October 2017 Finance Minister Malusi Gigaba confirmed the worst in his maiden Medium-Term Budget Policy Statement (MTBPS), revealing serious fiscal slippages amid bail-outs of State-owned companies (SOCs), a worryingly sharp deterioration in revenue collections, a material downward revision to the country’s... 

Various State assets being identified for disposal as Gigaba drops deficit and debt bombshells
Photo by Bloomberg
Finance Minister Malusi Gigaba

West African leaders plan shared currency by 2020

By: Reuters     25th October 2017 A group of four West African presidents said on Tuesday they planned steps to accelerate the creation of a shared currency for the 15-country Ecowas bloc by 2020, according to a joint statement. The future currency, whose name is yet to be determined, would replace the dominant CFA Franc... 

Zuma asks court to reject call for inquiry into influence-peddling 

By: Reuters     24th October 2017 President Jacob Zuma has asked the High Court to reject a call by an anti-corruption watchdog for an official inquiry into alleged influence-peddling in his government. A report a year ago by South Africa's anti-graft agency known as Public Protector recommended a judicial probe be held to look... 

Zuma asks court to reject call for inquiry into influence-peddling
President Jacob Zuma

Apartheid Museum to honour Advocate Bizos

By: Sane Dhlamini     24th October 2017 The Apartheid Museum in Johannesburg will on Thursday commemorate stalwart anti-apartheid icon Advocate George Bizos by launching a new gallery in his honour a few weeks before his 90th birthday, and by launching his memoir, detailing his friendship with Nelson Mandela and titled 65 Years of... 

Apartheid Museum to honour Advocate Bizos
Advocate George Bizos

Crime Stats: Mbalula talks tough, slams 'lazy efforts' by police

By: News24Wire      24th October 2017 Police Minister Fikile Mbalula "isn't feeling" the general 1.8% decrease in crime during the 2016/17 financial year, and has yet again warned violent criminals that they will be dealt with in a "proportional response". "Crime is in general down, but when you zoom into the numbers, we have a big... 

Crime Stats: Mbalula talks tough, slams 'lazy efforts' by police
Police Minister Fikile Mbalula

Molefe’s pension trial date set for three days

By: News24Wire      24th October 2017 Former Eskom CEO Brian Molefe’s court date has been set to be heard in Pretoria’s North Gauteng High Court for three days at the end of November. That is according to the Department of Public Enterprises spokesperson Colin Cruywagen on Tuesday. 

 Molefe’s pension trial date set for three days
Photo by Duane Daws
Former Eskom CEO Brian Molefe

Sacci calls on Gigaba to restore business confidence

By: African News Agency      24th October 2017 The South African Chamber of Commerce and Industry (Sacci) on Monday urged finance minister Malusi Gigaba to issue a Policy statement that will restore confidence to the business environment and the market in general. Gigaba will deliver his inaugural Medium Term Budget Policy Statement on... 

Department of agriculture to help farmers stop the spread of bird flu

By: News24Wire      24th October 2017 A total of 92 locations have tested positive for highly pathogenic avian influenza (HPAI), also known as bird flu, the Department of Agriculture, Forestry and Fisheries has confirmed. The department said in a statement that affected birds are divided into distinct categories, namely, commercial... 

High Court to hear Zuma's State of Capture report review application

By: News24Wire      24th October 2017 The North Gauteng High Court is on Tuesday expected to hear President Jacob Zuma's application to review the remedial action contained in former Public Protector Thuli Madonsela's State of Capture report. The case has been set down for three days. 

High Court to hear Zuma's State of Capture report review application
Photo by Reuters
President Jacob Zuma

Africa in focus as Transnet sets R100bn revenue target for 2020

By: Terence Creamer     23rd October 2017 State-owned freight logistics group Transnet has set a target of becoming a R100-billion company by March 2020, with its business interests in the rest of Africa expected to contribute materially to the increase in revenues. In 2016/17, Transnet reported a 5.3% rise in revenue to R65.5-billion.... 

Africa in focus as Transnet sets R100bn revenue target for 2020

Transnet asking suppliers to provide details of any third-party ‘commissions’

By: Terence Creamer     23rd October 2017 Transnet CEO Siyabonga Gama says that the freight logistics group is investigating every allegation of possible corruption in relation to the State-owned group’s procurement programmes, revealing that scope of its inquiries extends beyond the R50-billion locomotive contract, which is the subject... 

Transnet asking suppliers to provide details of any third-party ‘commissions’
Photo by Duane Daws
Transnet CEO Siyabonga Gama

SA not in a crisis – economist

By: News24Wire      23rd October 2017 South Africa is not necessarily in a crisis, according to Lesiba Mothata, executive chief economist at Alexander Forbes Investments. He based his view on a comparison to other emerging market examples of banks failing systematically, crises of the outright loss of fiscal policy and "Hungarian... 

 SA not in a crisis – economist

Tanzania President names tax expert as central bank governor

By: Reuters     23rd October 2017 Tanzania's new central bank governor will be tax law professor Florens Luoga, the country's President said on Monday. President John Magufuli said Luoga would take over in December or January after the tenure of current governor Benno Ndulu expires. 

Maimane says govt must stop bailing out SAA

By: African News Agency      23rd October 2017 Democratic Alliance (DA) leader Mmusi Maimane, said on Monday that government could not afford to “throw billions” of rand at the loss-making national carrier, South African Airways (SAA), while four children a day die of starvation in the country. “Why keep subsidising the comparatively wealthy... 

Maimane says govt must stop bailing out SAA
Photo by Duane Daws
DA leader Mmusi Maimane

Taxes, bailouts and political instability: Gigaba to deliver inaugural MTBPS

By: African News Agency      23rd October 2017 All eyes will be fixed on South African Finance Minister Malusi Gigaba this week when he delivers his first Medium-Term Budget Policy Statement (MTBPS) amid concerns about the fiscal challenges, widespread perceptions of government corruption and wasteful expenditure. Gigaba, who took over the... 

Taxes, bailouts and political instability: Gigaba to deliver inaugural MTBPS
Photo by Duane Daws
Finance Minister Malusi Gigaba

On third day of Eskom probe, Parly names new chair for public enterprises committee

By: African News Agency      20th October 2017 The African National Congress (ANC) in Parliament on Friday announced the appointment of a new chairperson for the legislature’s public enterprises committee, on the third day of its probe into allegations of widespread impropriety at South Africa’s national power utility, Eskom. It said Lungi... 

On third day of Eskom probe, Parly names new chair for public enterprises committee

Zuma spokesperson dismisses reports Ramaphosa may be sacked

By: Reuters     20th October 2017 President Jacob Zuma's spokesperson said on Friday there was no basis for reports that he would axe his deputy Cyril Ramaphosa, speculation about which has weighed on the currency and bonds. The ruling African National Congress (ANC) party, of which Zuma is leader and Ramaphosa deputy, has been... 

Zuma spokesperson dismisses reports Ramaphosa may be sacked
Photo by Reuters
Cyril Ramaphosa & Jacob Zuma

New Statistician-General and head of Statistics South Africa appointed

By: Natasha Odendaal     20th October 2017 Statistics South Africa (Stats SA) deputy director-general for statistical collections and outreach Risenga Maluleke has been appointed as successor to Statistician-General and Stats SA head Dr Pali Lehohla. Lehohla’s tenure expires at the end of October. 

Rand extends losses as speculation Ramaphosa may be fired weighs

By: Reuters     20th October 2017 South Africa's rand weakened on Friday, pressured by a firmer dollar and underperforming emerging market peers as speculation that President Jacob Zuma may axe his deputy Cyril Ramaphosa weighed on sentiment. At 0830 GMT the rand was 1.15% weaker at 13.6725 per dollar, extending losses and... 

Rand extends losses as speculation Ramaphosa may be fired weighs

Nersa releases dates and venues for upcoming Eskom hearings

By: Creamer Media Reporter      20th October 2017 The National Energy Regulator of South Africa (Nersa) has published the dates and venues for its upcoming public hearings into Eskom’s revenue application for the 2018/19 financial year. Eskom has applied for an allowable revenue of R219.5-billion, which would translate to a 19.9% average... 

Nersa releases dates and venues for upcoming Eskom hearings

Parly committee rejects BLF’s demand that it stop Eskom inquiry

By: African News Agency      20th October 2017 Parliament’s portfolio committee on Public Enterprises on Friday rebuffed a demand from Black First Land First (BLF) to stop its inquiry into Eskom, which the group termed a witchhunt against the Gupta family. Committee chairperson Zukiswa Rantho asked MPs how she should respond to the missive,... 

Parly committee rejects BLF’s demand that it stop Eskom inquiry

Eskom approval is last remaining hurdle for R2.3bn Seriti Coal deal

By: Terence Creamer     20th October 2017 The black-empowerment consortium selected as the preferred bidder for Anglo American’s Eskom-tied coal operations is optimistic that the State-owned utility will approve the ceding of three coal supply agreements (CSAs) from Anglo to Seriti Coal by year-end. The R2.3-billion transaction was... 

Eskom approval is last remaining hurdle for R2.3bn Seriti Coal deal
Photo by Duane Daws
Thebe Energy and Resources CEO Sizwe Mncwango

KPMG ‘rogue unit’ report grossly unfair to former finance minister Gordhan – Ramaphosa

By: African News Agency      20th October 2017 Deputy President Cyril Ramaphosa on Thursday said a report compiled by auditing firm KPMG for the South African Revenue Service into the existence of a “rogue spy unit” was “grossly unfair” to former finance minister Pravin Gordhan. The KPMG report , which insinuated that Gordhan knew of a... 

KPMG ‘rogue unit’ report grossly unfair to former finance minister Gordhan – Ramaphosa
Photo by Duane Daws
Pravin Gordhan

Businesses must take action to drive inclusive growth in Africa

By: Robyn Wilkinson     20th October 2017 There is a need for a new social narrative that balances generating profits with building social capital to drive inclusive economic growth in Africa, says management consultant IQbusiness CEO Adam Craker.  

Businesses must take action to drive inclusive growth in Africa
ADAM CRAKER South Africa must focus on building a strong home economy if it is to be a participant in regional or continental growth

Clarifying sustainability reporting imperative for modern business

By: Robyn Wilkinson     20th October 2017 A clear and shared sustainability reporting framework is integral for enabling companies to demonstrate a positive impact on not only the economies but also the societies and environments in which they operate, says independent international organisation Global Reporting Initiative (GRI) CE Tim... 

Clarifying sustainability reporting imperative for modern business
Photo by Bloomberg
DRIVING GROWTH GRI is assisting SMEs in Africa to gain access to global value chains by building their capacities for corporate sustainability management and reporting

Company expands African footprint to pursue major projects

By: Robyn Wilkinson     20th October 2017 Despite slowing economic growth, political challenges and associated declining investor confidence in many parts of Africa, global project management consultancy Turner & Townsend continues to strengthen its network on the continent as it pursues major projects in mining, oil and gas,... 

Company expands African footprint to pursue major projects
STRATEGIC BASE With several of Turner & Townsend’s multinational clients based in Nairobi, the city was an obvious choice for the location of a new hub

New business model drives group’s resurgence in Africa

By: Robyn Wilkinson     20th October 2017 Economic growth in Africa is ensuring a steady demand for infrastructure development and by tailoring its business model to access this demand, engineering services provider ELB Group has enhanced its activities on the continent and announced a return to profitability. 

New business model drives group’s resurgence in Africa
ACCESSING NEW MARKETS ELB has been focused predominately on the mineral and metals market and diversification will enable it to better protect its balance sheet during future commodity downturns

Gautrain chief on the four pillars of a successful transport megaproject

By: Keith Campbell     20th October 2017 The successful implementation of transport infrastructure megaprojects rest on four equally important “pillars”, Gautrain Management Agency CEO Jack van der Merwe told the recent Sixth Council for Scientific and Industrial Research Conference, in Pretoria. They are: political will and commitment;... 

IDC will invest in infrastructure that unlocks industrialisation

By: Keith Campbell     20th October 2017 The Industrial Development Corporation (IDC), South Africa’s development finance institution which exists to fund entrepreneurs and projects in the industrial sector, also seeks to use investments in infrastructure to free up industrial development opportunities. This was highlighted by IDC... 

CSIR is looking to transform how infrastructure is built in South Africa

By: Keith Campbell     20th October 2017 The Council for Scientific and Industrial Research (CSIR) continues to research innovations and initiatives to transform the local construction industry. This was reported by CSIR Principal Researcher Llewellyn van Wyk at the recent 6th CSIR Conference in Pretoria.  

BAIC implementing catch-up strategy to meet 2018 Coega deadline

By: Dylan Slater     20th October 2017 China-based vehicle manufacturer Beijing Automotive Group (BAIC), is accelerating some of its construction plans for its vehicle manufacturing plant, currently under construction at the Port Elizabeth-based Coega Industrial Development Zone, to catch up on delays incurred owing to primarily... 

BAIC implementing catch-up strategy to meet 2018 Coega deadline
PORT ELIZABETH FACTORY In the foreground of the newly completed steel superstructure are BAIC vehicles that will be available in South Africa once production reaches full capacity

Call for collaborative action to support sustainable tourism

By: Dylan Slater     20th October 2017 In recognition of Africa’s tourism and travel industry’s ability to serve as an engine of progress for socioeconomic transformation, the African Development Bank (AfDB) calls for collaborative actions from all stakeholders for the development of sustainable tourism in Africa.  

Eskom’s new R174bn grid plan includes R18bn for IPP connections

By: Terence Creamer     19th October 2017 State-owned electricity utility Eskom says all connection costs relating to 27 outstanding renewable-energy projects have been included in its latest Transmission Development Plan (TDP), which covers the ten-year period from 2018 to 2027. The renewable-energy projects were legally procured in... 

Eskom’s new R174bn grid plan includes R18bn for IPP connections

Treasury appoints new deputy director-general for public finance

By: Thabi Madiba     19th October 2017 National Treasury on Thursday issued a statement congratulating the newly appointed deputy director-general for public finance Dr Mampho Modise. She was formerly a chief director for strategy and risk management in the department’s Asset and Liability Management division and dealt with policy... 

Treasury appoints new deputy director-general for public finance
Photo by Duane
Finance Minister Malusi Gigaba

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