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Economy News

Brics development bank confirms Treasury DG as South Africa’s representative

By: Creamer Media Reporter      11th August 2017 The Brics New Development Bank (NDB) has appointed National Treasury director-general Dondo Mogajane as the new director representing South Africa. He is succeeding Tito Mboweni whose term of service as director expired in early July after two years. 

Creative farming methods ensure sustainability

By: Robyn Wilkinson     11th August 2017 Amid extreme weather, regulatory barriers and import competition, South African farmers need to think creatively about farming practices – not only to reduce costs but also preserve an environment that is struggling under the pressures of a growing global population, says agriculture... 

Creative farming methods  ensure sustainability
PLANT PROTECTION Haygrove’s multispan polytunnel structure provides a controlled environment for the aquaponic and hydroponic systems

Furnaces and kilns manufacturers are feeling the heat

By: Tasneem Bulbulia     11th August 2017 Furnaces and kilns manufacturers are taking strain, as with many other industries, owing to financial difficulties amid the current economic climate, says furnaces and kilns manufacturer Van Tuyls director and owner Richard McCullough. McCullough indicates that the number of manufacturers in the... 

Furnaces and kilns manufacturers are feeling the heat
UNDER PRESSURE Manufacturers of furnaces and kilns are are changing their products and diversifying into new markets both locally and internationally

Local manufacturer looks to bridge skills gap

By: Nadine James     11th August 2017 Sealing products manufacturer Klinger Mzansi has opened its training academy, which offers a learnership programme, joint integrity training as well as an introductory course on all of the company’s products. Klinger sales and marketing director Phillip Herbst notes that the academy opened on... 

Local manufacturer looks to bridge skills gap
KLINGER TRAINING ACADEMY The trainees have access to a fully equipped workshop, and gain both practical and theoretical knowledge

Small farms an economical option in South Africa

By: Robyn Wilkinson     11th August 2017 While many medium-sized farms have been unable to weather the challenges facing the South African agricultural industry and have consequently been absorbed by larger commercial farms, smaller farmers are proving that it is possible to generate a sustainable income from a modest operation through... 

Small farms an economical option in South Africa
MAXIMUM BENEFIT Hinomoto’s small-scale tractors ensure that farmland is used in the most efficient way possible, maximising yield sizes

Stakeholder support integral to urban farming in S Africa

By: Robyn Wilkinson     11th August 2017 While the appetite for urban farming exists in South Africa, more needs to be done to motivate stakeholders from both the private and public sectors to play a role in creating and growing successful projects that can be translated into sustainable investments, say engineering and infrastructure... 

Stakeholder support  integral to urban  farming in S Africa
Photo by Bloomberg
MODERN FARMING Wheat grass and other leafy greens are being grown in vertical farming units in China created out of retrofitted shipping containers

Think-tank hands over title deeds to residents of Western Cape town  

By: Ilan Solomons     11th August 2017 Think tank the Free Market Foundation’s (FMF’s) Khaya Lam land reform project last month handed over the latest batch of title deeds to residents in the town of Grabouw, in the Western Cape, thereby taking the project’s total title deed handover tally to 1 360. Khaya Lam project manager Perry... 

Think-tank hands over title deeds to residents of Western Cape town
Khaya Lam Land Reform project manager Perry Feldman discusses the Free Market Foundation’s project.

Western Cape’s agricultural growth to drive economy

By: Robyn Wilkinson     11th August 2017 Supported by the Western Cape government’s strategic initiatives to help farmers grow their crops – and their market share – the province’s official tourism, trade and investment agency Wesgro has successfully committed investments in the Western Cape agricultural sector of R1.56-billion over the... 

Western Cape’s agricultural growth to drive economy
Photo by Bloomberg
UNIQUE ENVIRONMENT The Western Cape plays a key role in South Africa’s agricultural sector, with a unique rainfall pattern allowing for a mixture of agricultural activities

Samwu to march on Midvaal Municipality

By: African News Agency      9th August 2017 The South African Municipal Workers Union (Samwu) has said that it would be marching to the Midvaal Municipal offices, south of Johannesburg, on Thursday in protest against working conditions and to deliver a memorandum of demands. Samwu’s spokesperson, Papikie Mohale, said the protest march... 

Samwu to march on Midvaal Municipality

Zuma survives no confidence vote, opposition vow to step up pressure

By: African News Agency      8th August 2017 President Jacob Zuma on Tuesday survived a vote of no confidence in the National Assembly, but the result indicated that a significant number of African National Congress (ANC) MPs broke ranks to support the opposition motion. Speaker Baleka Mbete announced that 177 MPs voted in favour of the... 

Zuma survives no confidence vote, opposition vow to step up pressure
Photo by Reuters
President Jacob Zuma

Macozoma concerned South Africa may miss out on big electric-vehicle opportunity 

By: Terence Creamer     8th August 2017 Leading business personality Saki Macozoma has expressed concern that South Africa is not fully aligning its economic and industrialisation plans to areas of future demand, including in the area of electric vehicles (EVs). Speaking at the launch of a new book authored by political commentator... 

Macozoma concerned South Africa may miss out on big electric-vehicle opportunity
Photo by Duane Daws
Saki Macozoma

New iDube Cold Storage facility unveiled at Dube TradePort

By: Creamer Media Reporter      8th August 2017 The new, multipurpose R99-million iDube Cold Storage facility has officially opened in the Dube TradePort Special Economic Zone (SEZ), in KwaZulu-Natal. The 4 500 m2 facility, which has the capacity to handle 8 600 mobile pallet positions and store up to 12 000 t of perishable product, will cater... 

Politics jeopardising employment in South Africa – Solidarity

By: Anine Kilian     8th August 2017 Trade union Solidarity on Tuesday expressed concern about South Africa’s persistent weak unemployment statistics.  This comes after Monday’s release, by Statistics South Africa, of its Quarterly Labour Force Survey, which showed that the expanded definition of unemployment had widened from 36.4%... 

City of Joburg to host open days to resolve billing crisis

By: Natasha Odendaal     8th August 2017 The City of Johannesburg (CoJ) is embarking on a series of highly concentrated “billing open days” over the next few months to resolve lingering billing issues, reduce the backlog of incorrect accounts and enable ratepayer interaction with frontline staff and senior management. The open days will... 

Sacci BCI continues to regain some lost ground in July

By: Creamer Media Reporter      8th August 2017 The Southern African Chamber of Commerce and Industry’s (Sacci’s) Business Confidence Index (BCI) increased by 0.4 index points month-on-month to 95.3 in July – the index’s highest levels since February. Sacci noted that although the BCI continued to regain some lost ground after the March... 

Sacci BCI continues to regain some lost ground in July

BBBEE Commission initiates investigation into 17 companies for possible fronting 

By: Creamer Media Reporter      8th August 2017 Investigations have been initiated by the Broad-Based Black Economic Empowerment (BBBEE) Commission against 17 firms for possible fronting practices. Any of the entities found to be in violation of the BBBEE Act in terms of ownerships structures and noncompliance with the Codes of Good Practice... 

BLSA appoints Maseko as new communications director

By: Creamer Media Reporter      7th August 2017 Business Leadership South Africa (BLSA) on Monday announced the appointment of Themba Maseko as communications director with immediate effect. Maseko is a former Cabinet spokesperson and served as CEO of Government Communications Information Services. 

BLSA appoints Maseko as new communications director
New BLSA communications director Themba Maseko

Job-shedding in the thousands cause for alarm – Seifsa

By: Natasha Odendaal     7th August 2017 The loss of 25 000 jobs in the metals and engineering sector during the three-year period from July 2014 to June 2017 necessitates that a workable solution be found to halt the “jobs bloodbath”, says the Steel and Engineering Industries Federation of Southern Africa (Seifsa). With a first-quarter... 

City of Johannesburg finances in a healthy state, says finance MMC Dagada

By: African News Agency      7th August 2017 The City of Johannesburg has refuted allegations made by the African National Congress in Johannesburg on Sunday about the city’s financial position. “The comments are nothing more than the ANC’s attempt at reviving [former mayor] Parks Tau’s political career from the ashes,” mayoral committee... 

Gigaba orders forensic investigation into Tegeta report

By: Creamer Media Reporter      4th August 2017 National Treasury is set to undertake a forensic investigation into the Tegeta report which it handed over to Parliament’s Standing Committee on Public Accounts (Scopa). The investigation deals with the processes related to coal supply contracts awarded to Gupta-linked Tegeta Exploration and... 

South Africa had a ‘slow slide’ into junk status – S&P’s

By: Natasha Odendaal     4th August 2017 South Africa’s slump from “rising star” to “fallen angel” was not an abrupt overnight downfall, but rather a slow slide following the country’s failure to fully recover from the devastating 2008/9 global crisis. Despite the turmoil, the country had held on to its investment grade ratings for over... 

Sacci, Outa welcome appointment of Jarana as SAA CEO

By: Creamer Media Reporter      4th August 2017 The South African Chamber of Commerce and Industry (Sacci) and the Organisation Undoing Tax Abuse (Outa) on Friday welcomed the appointment of Vuyani Jarana as the new CEO of South African Airways (SAA). He is the first permanent CEO to be appointed at the airline since 2014.   “He is a person... 

City published harbour bylaw for public comment

     4th August 2017 The City of Cape Town has made its draft Harbour bylaw available for public comment, proposing to reverse the long-running systematic mismanagement of the city’s harbours under the national departments of Agriculture, Forestry and Fisheries (DAFF), and Public Works (DPW).  

City published harbour  bylaw for public comment
Photo by Bloomberg
HARBOURING PROBLEMS Neglected and mismanaged harbours have a negative impact on the workers and communities who depend on the harbours for their livelihood

Company attains trade approval for weighing system

By: Marleny Arnoldi     4th August 2017 With industrial scale suppliers Autotech Weighing Systems having successfully attained legal for trade approval for scales and weighing information systems manufactuer Tamtron’s on-board reach stacker scale, containers can be weighed according to the international convention of Safety of Life at... 

Company attains trade approval for weighing system
WEIGHT MANAGEMENT Weighing takes place during normal operations without interrupting or slowing down the workflow at seaports or container depots

First delivery of locomotives expected in Q4

By: Simone Liedtke     4th August 2017 Rail technology provider Bombardier Transportation (BT) will hand over the first of 240 Bombardier Traxx Africa locomotives to State-owned freight utility Transnet, during the fourth quarter of this year. 

Forum to address rail maintenance and rehabilitation

     4th August 2017 A delegation of international rail maintenance and rehabilitation professionals, together with an “unbeatable” line-up of thought leaders in Africa’s transport sector will be in Durban, South Africa in October to address challenges faced by the rail fraternity in Africa. 

Legal and policy certainty required if gas economy is to be realised

By: Mia Breytenbach     4th August 2017 Key factors that will influence the establishment of a gas economy in South Africa include the passing of the amended Mineral and Petroleum Resources Development Act (MPRDA) and greater clarity regarding the expected and stated imports of liquefied natural gas (LNG), says South African Oil and... 

Legal and policy certainty required if gas economy is to be realised
Photo by Reuters
INDUSTRIAL ROLEMODEL Liquefied petroleum gas industry could play a strategic role in the establishment of a gas economy as key lessons can be learnt from this industry 

New maritime transport policy to facilitate sector growth

By: Marleny Arnoldi     4th August 2017 The Department of Transport finalised its Comprehensive Maritime Transport Policy (CMTP) for South Africa in June.  

New maritime transport policy  to facilitate sector growth
CRUISING CONCEPT Private sector participation opportunities arose at the Durban cruise terminal for MSC Cruises’ subsidiary KwaZulu Cruise Terminals

Rail is the future of Africa’s industrialisation

     4th August 2017 Rail infrastructure upgrades remain a core focus of the ongoing industrialisation of Africa, where the transportation of goods and commodities is often difficult and costly, owing to underinvestment in rail infrastructure, says multinational power and engine manufacturer and distributor Cummins. 

SADC needs to promote intra-bloc trade and South Africa should lead – OECD

By: Keith Campbell     4th August 2017 The Organisation for Economic Cooperation and Development (OECD), in its July 2017 survey of the South African economy, has urged South Africa to promote further economic integration within the Southern African Development Community (SADC). “SADC is already the largest export market and a major... 

SADC urged to liberalise services and improve business environments

By: Keith Campbell     4th August 2017 In addition to making intraregional trade in goods easier, the member countries of the Southern African Development Community (SADC) should facilitate intra-bloc trade in services and improve their business environments, the Organisation of Economic Cooperation and Development (OECD) argued in... 

Station’s strategic location to improve corridor capacity

By: Simone Liedtke     4th August 2017 Rosmead station, in the Eastern Cape, was identified as strategic in improving operational capacity along the export corridor and forms part of Phase 1 of State-owned freight utility Transnet’s Port of Ngqura manganese export expansion project. 

Successful event to be held again next year

     4th August 2017 Following the success of the Africa Rail exhibition and conference in 2017, the event will be held again on June 12 to 13 next year at the Sandton Convention Centre, in South Africa. 

UK reassures Sacu about future trade relations, reaffirms commitment to free trade

By: Keith Campbell     4th August 2017 The Southern African Customs Union (SACU) has welcomed the UK’s intention of preventing disruption of trade relations with other countries as it leaves the European Union (EU). This was affirmed in a Joint Statement issued by SACU and the UK following discussions between Trade Ministers from the... 

Land Bank hikes FY17 profits to R372m

By: African News Agency      3rd August 2017 The Land and Agricultural Development Bank on Thursday, released a strong set of results for the financial year ending March 31, 2017, as the group and bank generated a profit of R372.2-million and R316.3-million respectively, compared to R181.9-million and R94-million in 2016. The bank said this... 

Treasury announces new SAA CEO, completes first three economic ‘action plans’ 

By: Natasha Odendaal     3rd August 2017 Three key deadlines for specific actions within the National Treasury’s new 14-point plan have been met, with the appointment of new South African Airways (SAA) CEO Vuyani Jarana this week marking the third completed task. Jarana, currently Vodacom Business CEO, is set to start once his... 

Treasury announces new SAA CEO, completes first three economic ‘action plans’

Competition Commission raids premises of 25 fire sprinkler installers 

By: Anine Kilian     3rd August 2017 The Competition Commission on Thursday carried out simultaneous and coordinated search and seizure raids at the premises of the Automatic Sprinkler Inspection Bureau (Asib) and 24 fire control and protection services companies that are members of Asib. This is the largest number of premises... 

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