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Economy News

Competition Commission sets sights on high data costs 

By: Natasha Odendaal     18th August 2017 The Competition Commission has initiated a market inquiry into data services following widespread calls by consumers for lower data costs and subsequent queries from at least three Ministers over high data costs and data affordability. With the gazetting of the terms of reference (ToR) of the... 

Cabinet approves coastal tourism plan

By: Anine Kilian     18th August 2017 Cabinet has approved a coastal and maritime tourism implementation plan. In a statement released on Friday, Tourism Minister Tokozile Xasa said the implementation plan was developed by the Department of Tourism in partnership with various tourism stakeholders.   

Cabinet approves coastal tourism plan

Discovery CE scoops innovation award

By: Kim Cloete     18th August 2017 Discovery Group CE Adrian Gore has been awarded the 2017 Growth, Innovation and Leadership (GIL) Visionary Innovation Award: Africa 2017. He received the award from global research and consulting organisation Frost & Sullivan, which, this week, hosted its yearly GIL Africa summit, in Cape Town.... 

Gordhan declaratory relief application dismissed

By: News24Wire      18th August 2017 A court has ruled that former finance minister Pravin Gordhan's application seeking declaratory relief from having to intervene with the banks has been dismissed. Judge Aubrey Ledwaba read out the order at the North Gauteng High Court on Friday. 

Gordhan declaratory relief application dismissed
Photo by Reuters
Former Finance Minister

Cost of disintegration to thwart de-globalisation efforts, Lamy avers 

By: Terence Creamer     18th August 2017 Former World Trade Organisation director-general Pascal Lamy sees no turning back from globalisation, despite the current rise in political nationalism and trade protectionism. Speaking in Johannesburg this week, Lamy argued that the cost of “disintegration” would simply be too high for countries... 

Cost of disintegration to thwart de-globalisation efforts, Lamy avers
Pascal Lamy

Opinion: Turning the chicken war into a trade war

     18th August 2017 In this opinion article, XA director Donald Mackay questions why legitimate legal processes are being overlooked in the dispute over European Union chicken imports. Mackay acknowledges that his consultancy is not a disinterested party in the matter. I read the recent fiery opinion piece by... 

Opinion: Turning the chicken war into a trade war
Donald Mackay

Biofuels company launches franchise solution

     18th August 2017 Cape Town-based biofuel company Biogreen Diesel will start franchising its ‘Biodiesel & Research model’, to aid in the expansion of the industry and simultaneously increase awareness of biofuels in the region. The company, having made the announcement in June on its website, says it felt it had... 

Biofuels company launches franchise solution
Photo by Bloomberg
GREASY GOODNESS Biogreen Diesel uses a locally developed jet reactor, to convert waste oil into an environment-friendly fuel that can be blended with, or substituted for, diesel

Diverse assets for infrastructure in demand 

By: Marleny Arnoldi     18th August 2017 In the commercial and industrial property development space, as well as its supporting infrastructure, there is demand for high-quality, diverse assets with strategic locations and offering optimal planning and design, says consultancy firm WSP.  

Diverse assets for  infrastructure in demand
WSP property team and structures regional director William Johnston discusses the demand for diverse assets in the infrastructure industry.

New code to benefit smaller companies

By: Marleny Arnoldi     18th August 2017 With the Amended Construction Sector Code (CSC) in its final stages, business strategy consultancy Gestalt says that the CSC will provide revised specifications in terms of the black economic empowerment (BEE) requirements in the sector. The sector codes continue to advance the transformation... 

New code to benefit smaller companies
Photo by Duane Daws
DEON OBERHOLZER Some companies prefer noncompliance with BEE requirements, but subsequently lose lucrative opportunities to supply government or public-sector-related projects

Organisation lobbies government to kick-start biogas market

By: Nadine James     18th August 2017 The Southern African Biogas Industry Association (Sabia) is liaising with national government departments to create an enabling environment for the biogas industry, thereby establishing a viable biogas market. Sabia chairperson Jason Gifford explains that the organisation’s working groups are in... 

Organisation lobbies  government to kick-start  biogas market
AGRICULTURAL BENEFITS A booming biogas industry will create jobs and ensure greater job security within the agricultural sector

Procurement standard set to stop use of ‘cheap’ professional services

By: Marleny Arnoldi     18th August 2017 The National Treasury’s (NT’s) standard for infrastructure procurement and delivery management aimed at addressing government’s use of “cheap” professional service providers in public infrastructure projects officially became applicable to municipalities last month.  

Procurement standard set to stop use of ‘cheap’ professional services
Photo by Duane Daws
INCLUSIVE DECISION-MAKING Government bodies in their respective procurement departments, should make more of a crossfunctional team effort regarding procurement

SADC in need of localised development

     18th August 2017 Localisation in infrastructure development in the Southern African Development Community (SADC) region is critical to industrialisation, says the Department of Trade and Industry (DTI).  

SADC in need of  localised development
NIGEL GWYNNE-EVANS State-owned entities have a critical role to play in attractive private sector investment for infrastructure projects

Still much uncertainty as LPG stakeholders grapple with market inquiry findings

By: Mia Breytenbach     18th August 2017 In the findings and recommendations of the first-ever market inquiry into the local liquefied petroleum gas (LPG) industry, the Competition Commission urges public and private organisations to improve performance in the sector, yet much uncertainty remains in the wake of the report’s publication.... 

Still much uncertainty as LPG stakeholders grapple with market inquiry findings

Govt denies rumours of 'super presidency' taking over budget process

By: News24Wire      17th August 2017 Communications Minister Ayanda Dlodlo on Wednesday downplayed suggestions that government wants to create a so-called super presidency by having a hand in budgetary processes. During a media briefing following the Cabinet meeting, Dlodlo said Cabinet approved the mandate paper for the 2018 Budget. 

 Govt denies rumours of 'super presidency' taking over budget process
Communications Minister Ayanda Dlodlo

Infraco to get new CEO as Kwele’s term ends

By: Creamer Media Reporter      17th August 2017 Cabinet on Thursday reported the appointment of AD Matseke as CEO of State-owned Broadband Infraco for a five-year term from September 1, 2017, to August 30, 2022. Further, the fixed-contract of current CEO Phuleng Kwele has been extended by three months from September 1 to November 30. 

Denel appoints new CFO, legal officer

     17th August 2017 State-owned Denel has appointed Odwa Mhlwana CFO and Vuyokazi Xaxa company secretary and legal officer.   “The new additions to our executive team are critical to create stability in Denel and will contribute to our transformation into a self-sustaining State-owned company,” says Denel acting CEO... 

New Development Bank to benefit Africa – Zuma

By: African News Agency      17th August 2017 President Jacob Zuma said on Thursday that the New Development Bank (NDB) was set to benefit infrastructure projects on the African continent as a whole, and having a permanent regional centre showed commitment to that undertaking. “We are therefore happy to know that the bank is working on... 

New Development Bank to benefit Africa – Zuma
President Jacob Zuma

DPO acquires VCS South Africa

By: Creamer Media Reporter      17th August 2017 Payment services provider Direct Pay Online (DPO) Group has acquired Virtual Card Services (VCS) South Africa. This marks the completion of DPO’s purchase of the VCS group, following the earlier acquisition of VCS Namibia and VCS Botswana. It also bolsters DPO’s position in Southern Africa post... 

In a context of State capture, the ‘developmental-State project is almost dead’ 

By: Terence Creamer     17th August 2017 In the context of State capture and corruption, former Deputy Finance Minister Mcebisi Jonas believes South Africa’s “developmental-State project is almost dead”, with resources being diverted away form dealing with the country’s serious unemployment crisis towards poorly governed State-owned... 

In a context of State capture, the ‘developmental-State project is almost dead’
Mcebisi Jonas

Krugerrand demand resurgence anticipated to result in record sales  

By: Ilan Solomons     16th August 2017 Increased demand for gold has supported sales of the gold bullion Krugerrands and this year is predicted to yield the highest sales since the 1980s, with an expected 15% to 20% increase on the 1.1-million ounces of the coins sold in 2016. This is according to precious metal smelting and refining... 

Krugerrand demand resurgence anticipated to result in record sales
Rand Refinery marketing executive head Richard Collocott discusses the significance of the fiftieth anniversary of the launch of the gold bullion Krugerrand

Manufacturing sector slows Q2 spending, Q3 outlook more promising

By: Natasha Odendaal     16th August 2017 While the manufacturing sector slowed its overall investment during the second quarter of the year, there are indications of a recovery in the third quarter, new data released by the Manufacturing Circle suggests. The latest Manufacturing Composite Investment Tracker (MCIT) shows continued –... 

Manufacturing sector slows Q2 spending, Q3 outlook more promising
Photo by Duane Daws
Manufacturing Circle chairperson Andre de Ruyter

CSIR lauds female researcher for obtaining doctorate in spatial statistics 

     16th August 2017 Dr Sibusisiwe Khuluse-Makhanya has become the first black female researcher at the Council for Scientific and Industrial Research (CSIR) to obtain a PhD in spatial statistics.   Her PhD, which is titled ‘Spatial Statistical Modelling of Urban Particulate Matter’, was conferred at a graduation... 

Solidarity warns of ‘major impact’ should AMSA proceed with job cuts

By: Terence Creamer     16th August 2017 Trade union Solidarity has confirmed receipt of a Section 189A retrenchment notice from steel producer ArcelorMittal South Africa (AMSA) and has indicated that it will enter negotiations with the company to ensure alternatives to retrenchments are considered. On Tuesday, AMSA announced that it... 

Solidarity warns of ‘major impact’ should AMSA proceed with job cuts

Parliamentary State capture probe hits first hurdle

By: African News Agency      16th August 2017 The investigation into State capture by Parliament’s portfolio committee on public enterprises on Wednesday hit its first hurdle as it was confirmed to members that the legislature would not pay for an independent evidence leader. Acting chairperson Zukiswa Rantho told MPs she had asked the chair... 

Parliamentary State capture probe hits first hurdle

No agreement of sugar tax yet, says BevSA

By: African News Agency      16th August 2017 The Beverage Association of South Africa (BevSA) on Wednesday, dismissed reports that there was an agreement on the Health Promotion Levy at the National Economic Development and Labour Council (Nedlac). BevSA is opposing the introduction of a 20% tax on sugary beverages, or what has been... 

4AX appoints new CFO, COO

By: Creamer Media Reporter      16th August 2017 New exchange 4 Africa Exchange (4AX), has appointed Lindiwe Ndlela CFO and Anthony van Eden COO.   Ndlela, who joined the exchange in July, has extensive experience in the information and communications technology, manufacturing and engineering industries.   Van Eden, who joined 4AX on August 1,... 

AMSA initiates retrenchment talks as it pushes ahead with restructuring plan

By: Terence Creamer     15th August 2017 Steel producer ArcelorMittal South Africa (AMSA) announced on Tuesday that it had initiated consultations with employees regarding its proposed business-restructuring programme, which could result in job losses. CEO Wim de Klerk said in a statement that it was premature to provide an estimate as... 

AMSA initiates retrenchment talks as it pushes ahead with restructuring plan
Photo by Duane Daws
AMSA CEO Wim de Klerk

Housing supply remains a moving target as govt plays catch-up

By: Natasha Odendaal     15th August 2017 South African cities are struggling to match housing availability to the pace of urbanisation, with the many South African and foreign migrants adding to an ever-expanding population and placing further pressure on housing supply, which is already backlogged owing to a reduction in household... 

Housing supply remains a moving target as govt plays catch-up
Photo by Duane Daws
Human Settlements Minister Lindiwe Sisulu

Central banks vital for Africa’s integration, says Zuma

By: African News Agency      15th August 2017 President Jacob Zuma has encouraged African central bank governors gathered in Pretoria for the 2017 Governors’ Symposium of the Association of African Central Banks (AACB) to explore ways to improve economic integration, including linking payment systems, across borders on the continent.... 

Public urged to participate in police leadership survey 

By: Sane Dhlamini     15th August 2017 Nonprofit organisation Corruption Watch (CW) and the Institute for Security Studies (ISS) have launched a survey, on the eve of the commemoration of the Marikana massacre, seeking public input on the selection of the new South African Police Service (Saps) national commissioner and the head of... 

Public urged to participate in police leadership survey

July trade activity index reflects ‘reserved’ trade conditions – Sacci

By: Creamer Media Reporter      15th August 2017 The South African Chamber of Commerce and Industry (Sacci) Trade Activity Index (TAI) stood at 47 in July, reflecting “reserved” trade conditions, with the TAI still below 50. The seasonally adjusted TAI, however, improved by a further two index points to 51 in July. This was three points higher... 

Highveld to pursue safeguard protection on heavy structural steel products 

By: Terence Creamer     14th August 2017 Highveld Steel, which recently reopened its heavy structural mill in Mpumalanga despite still being in business rescue, has welcomed the institution of 10% import-duty protection on certain heavy steel sections and shapes. However, CEO Johan Burger tells Engineering News Online that Highveld... 

Highveld to pursue safeguard protection on heavy structural steel products
Photo by Duane Daws
Highveld's recently reopened structural mill

Unisa SBL professor appointed Ghana PPA chairperson, to aid in supply chain management

By: Mia Breytenbach     14th August 2017 The University of South Africa (Unisa) Graduate School of Business Leadership’s (SBL’s) first-ever professor extraordinaire for supply and value chain management in Africa Professor Douglas Boateng has been appointed independent chairperson of the Public Procurement Authority (PPA) by Ghana... 

Unisa SBL professor appointed Ghana PPA chairperson, to aid in supply chain management
University of South Africa Graduate School of Business Leadership professor extraordinaire for supply and value chain management in Africa Professor Douglas Boateng

Computer thieves hit Competition Commission

By: African News Agency      14th August 2017 Daring thieves broke into the offices of the Competition Commission and stole two laptops from the division that investigates cartels. Sipho Ngwema, the head of communications at the Competition Commission, revealed at the weekend  that there was a “security breach” at the offices of statutory body. 

City of Johannesburg aims to make billing woes 'history'

By: News24Wire      14th August 2017 The City of Johannesburg declared its ''Billing Open Day'' on Saturday a resounding success, and promised to get rid of the backlog of over 17 000 billing disputes soon. This was after officials from the City of Johannesburg, notorious for its billing problems, set up shop at Mark's Park in... 

City of Johannesburg aims to make billing woes 'history'
Johannesburg Mayor Herman Mashaba

US Embassy welcomes new Consul General to Cape Town

     11th August 2017 Consul General Virginia Blaser has been appointed to lead the Consulate General in Cape Town. “Consul General Blaser brings extensive experience from across the continent, where she led key US embassies, promoting trade and investment, empowering women and young leaders, and supporting... 

US Embassy welcomes new Consul General to Cape Town
Virginia Blaser

Eskom given 30 days to meet Nersa requirements for 2018 tariff application 

By: Terence Creamer     11th August 2017 The National Energy Regulator of South Africa (Nersa) has refused Eskom’s request to deviate from key aspects of the multiyear price determination (MYPD) methodology, as well as the minimum information requirements for a tariff application (MIRTA) and has given the utility until the end of August... 

Eskom given 30 days to meet Nersa requirements for 2018 tariff application

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