http://www.engineeringnews.co.za
R/€ = 14.90 Change: -0.06
R/$ = 12.17 Change: -0.04
Au 1331.72 $/oz Change: -4.73
Pt 1012.50 $/oz Change: -0.51
 

Economy News

Sasol’s new strategy shuns GTL as specialty chemicals emerge as key growth driver

By: Terence Creamer     23rd November 2017 Chemicals and energy group Sasol is preparing to sell several assets, including its Canadian shale gas assets, following an overhaul of its corporate strategy, which eschews any further greenfield gas-to-liquids (GTL) investments in favour of smaller acquisitions and projects of between... 

South African nuclear body shuts down key unit because of compliance failure 

By: Keith Campbell     22nd November 2017 The South African Nuclear Energy Corporation (Necsa) has executed an immediate shut down of its NTP Radiochemical Facility, because of non-compliance with licensing conditions. NTP produces radioisotopes for both industrial and an especially medical purposes, and many cancer and other patients in... 

South African nuclear body shuts down key unit because of compliance failure
Photo by Duane Daws/Creamer Media
An aerial view of Necsa’s complex at Pelindaba

Two South Africans shortlisted for engineering innovation prize

By: Megan van Wyngaardt     22nd November 2017 Two young South Africans are among the 16 engineers hailing from seven countries in Africa, who have been chosen for the shortlist of the prestigious Africa Prize for Engineering Innovation. University of the Witwatersrand chemical engineering research fellow Collins Saguru has developed AltMet,... 

Tsotsi drops Myeni/Zuma meeting bombshell at Eskom Inquiry

By: News24Wire      22nd November 2017 Former Eskom chairperson Zola Tsotsi has dropped a bombshell at the Eskom Inquiry, saying that former South African Airways chairperson Dudu Myeni had called him to request his availability to meet President Jacob Zuma in Durban. According to Tsotsi, he was met by Myeni on March 7, 2015 at the... 

Tsotsi drops Myeni/Zuma meeting bombshell at Eskom Inquiry
Photo by Duane Daws
Former Eskom chairperson Zola Tsotsi

Gauteng sets up corruption intervention council

By: Megan van Wyngaardt     21st November 2017 To fight corruption and promote clean governance, integrity and ethics, the Gauteng provincial government (GPG) has established a civil society-led Ethics and Anti-Corruption Advisory Council. Premier David Makhura on Tuesday said the establishment of the council was a “great step” in efforts to... 

African business aviation association joins global industry body

By: Keith Campbell     21st November 2017 The five-year-old African Business Aviation Association (AfBAA), which was founded in May 2012 and currently has 121 members, has become the fifteenth member of the International Business Aviation Council (IBAC), which is the global industry association for the business or executive aviation... 

African business aviation association joins global industry body
Photo by ExecuJet
A wide range of business aircraft parked at ExecuJet’s facility at Lanseria International Airport, north west of Johannesburg

Eskom’s ‘death spiral’ under the microscope 

By: Terence Creamer     21st November 2017 A major topic of discussion during recent public hearings into Eskom’s 2018/19 revenue application, was whether a further double-digit tariff hike could trigger a “utility death spiral”, whereby rising tariffs and utility costs spark an exodus of energy-intensive customers from the network,... 

Eskom’s ‘death spiral’ under the microscope

Ngqura Container Terminal hits volume milestone 

By: Megan van Wyngaardt     21st November 2017 Over 81 927 twenty-foot equivalent units (TEU) passed through the Ngqura Container Terminal (NCT), in the Eastern Cape, in October, the highest units ever handled in the terminal’s history. This remarkable milestone not only bodes well for the economy of the region and the country, but also shows... 

Ngqura Container Terminal hits volume milestone

Eskom rejects call for inflation-capped hike, as Nersa gears up for Dec 7 decision 

By: Terence Creamer     20th November 2017 State-owned power utility Eskom has rejected calls for its 2018/19 tariff to be capped at the level of inflation, arguing that such a move would be financially unsustainable as it would result in a revenue reduction, which would further squeeze its liquidity and could place the country’s credit... 

Eskom rejects call for inflation-capped hike, as Nersa gears up for Dec 7 decision
Photo by Duane Daws
Nersa fulltime regulatory member for electricity Mbulelo Ncetezo says decision should be announced on December 7

Astral Foods trumps difficult trading period with sterling FY17 results

By: Megan van Wyngaardt     20th November 2017 JSE-listed Astral Foods on Monday attributed the 96.8% increase in headline earnings a share to R18.99 for the year ended September 30 to the recovery in poultry profits during the second half of the financial year. “Stable prices for poultry products during the winter months, together with... 

Rail operational incidents reach 7yr low, but safety incidents increase

By: Dylan Slater     20th November 2017 Operational incidents related to South Africa’s railways decreased by 5% during 2016/17, reaching a seven-year low of 4 066 incidents, compared with 4 250 in the prior year.  

Rail operational incidents reach 7yr low, but safety incidents increase
The Railway Safety Regulator is committed to achieving its goal of “zero occurrences”

Business Leadership SA reveals business contribution of R1.9tn to GDP 

By: African News Agency      20th November 2017 Business Leadership South Africa (BLSA) chief executive, Bonang Mohale, revealed on Monday that business contributed R1.9-trillion to the country’s GDP, employing seven times more people than government. “We are saying business is the answer, not the enemy. Business is going to play its goal... 

Business Leadership SA reveals business contribution of R1.9tn to GDP
Photo by Duane Daws
BLSA CEO Bonang Mohale

The sooner Guptas leave SA, the better – Gordhan

By: News24Wire      20th November 2017 Former finance minister Pravin Gordhan has said the sooner the Guptas get out of South Africa, the better for the country. He was speaking at the Congress of Business and Economics dinner on Saturday, where they were paying tribute to heroes who have created a legacy that will benefit South Africa. 

The sooner Guptas leave SA, the better – Gordhan
Photo by Reuters
Former Finance Minister Pravin Gordhan

Sasol shareholders approve new R21bn BEE structure

By: Megan van Wyngaardt     17th November 2017 Sasol Khanyisa, a R21-billion broad-based black economic empowerment (BBBEE) ownership structure, has been granted formal approval by Sasol shareholders. “We are delighted with this outcome as it marks a significant milestone in Sasol’s transformation journey. Sasol Khanyisa will be implemented... 

Eskom’s business model is ‘no longer fit for purpose’ 

By: Terence Creamer     17th November 2017 Organised business made an impassioned plea this week for government to urgently review Eskom’s business model, which it said was “no longer fit for purpose”. In a presentation to the National Energy Regulator of South Africa, business also warned that, in the absence of a holistic view within... 

Eskom’s business model is ‘no longer fit for purpose’
Photo by Duane Daws
Busa VP Martin Kingston

Joburg’s anticorruption unit clamps down on corruption amounting to R16.2bn 

By: Natasha Odendaal     17th November 2017 Corruption amounting to R16.2-billion across 2 469 cases, now under investigation, has been uncovered over the past year by the City of Johannesburg’s anticorruption crackdown. Since inception, the Group Forensic and Investigations Department had implemented measures to clamp down on fraud and... 

Joburg’s anticorruption unit clamps down on corruption amounting to R16.2bn
Johannesburg Mayor Herman Mashaba

SA lacking global competitiveness

By: Marleny Arnoldi     17th November 2017 Local legislation, including stringent policy frameworks, continues to prove cumbersome for the South African construction sector, particularly owing to the necessity to conduct socioeconomic- and environmental-impact assessments, as well as obtain approval from the respective government... 

SA lacking global competitiveness
SOCIOECONOMIC BENEFITS Authorities would do well to accelerate the pace of affordable housing delivery, such as Reconstruction and Development Programme housing

SAB entrepreneurship for employment initiative welcomed

     17th November 2017 Business Unity South Africa (Busa) has welcomed South African Breweries (SAB’s) entrepreneurship campaign aimed at enabling South African entrepreneurs to create 10 000 jobs by 2021. 

SAB entrepreneurship for employment initiative welcomed
SAB PROGRAMME The SAB entrepreneurial programme, which provides a package of support, was launched in September

Maintenance programmes crucial for mine cost management

By: Robyn Wilkinson     17th November 2017 In challenging economic times, mining companies are looking to ‘sweat’ their assets, and a key cost management strategy in this endeavour is the implementation of sustainable cost management programmes with structured and proactive maintenance programmes, says mining, materials handling and... 

Maintenance  programmes crucial for mine cost management
UPGRADE AND IMPROVE TAKRAF Africa’s redesign of a bucket-wheel reclaimer features three bolted segments that enable maintenance to be carried out only on the worn parts of the bucket wheel

Construction company awarded R10m residential development contract

By: Simone Liedtke     17th November 2017 Construction company Motheo Infrastructure Contractors will use equipment – such as motor graders, 30 t excavators, compaction equipment and tipper trucks – to the value of about R10-million for its infrastructure contract at the South Hills integrated residential development in Johannesburg,... 

Construction company awarded R10m residential development contract
ARCHIE RUTHERFORD The South Hills project will have a positive impact on the local community

Industry suffers when large companies close down

By: Marleny Arnoldi     17th November 2017 From a global consulting engineers’ perspective, construction industries globally suffer the consequences when large construction companies close down.  

Industry suffers when large companies close down
CHRIS CAMPBELL CESA encourages its consulting engineering member firms to be more involved in business groups that lobby for more political certainty

African models boost construction development

By: Marleny Arnoldi     17th November 2017 Owing to various African countries’ having secured sovereign funding for construction projects that are being planned or in the process of implementation, these countries have the potential to promote rapid gross domestic product (GDP) growth, says consultancy firm WSP.  

African models boost construction development
VISHAAL LUTCHMAN There is a lot more awareness around projects, and legislation, and people are more vocal about the impacts of development projects on their circumstances

Landmark projects help Esor to improve performance in tough market

By: Dylan Slater     17th November 2017 Despite challenging market conditions and a deteriorating market environment for the six months ended August 31, JSE-listed civils and construction group Esor recorded a “significant improvement” in its finances, with profit before tax of R3.1-million, compared with a loss recorded in February.... 

Investment in infrastructure only way to realise integrated Africa dream

By: Schalk Burger     17th November 2017 The inaugural African Roundtable on Infrastructure Governance conference, hosted by the Development Bank of Southern Africa (DBSA) and co-sponsored by the World Bank, saw robust debate among members about the most effective way to overcome infrastructure development bottlenecks and leverage... 

Chubb to sell all its shares in South African business to empowerment consortium

By: Megan van Wyngaardt     16th November 2017 US-owned security company Chubb will sell 100% of its South African business to a black economic empowerment consortium led by Kilimanjaro Capital. The entity will then be rebranded. The move follows the passing of the Private Security Industry Regulation Amendment Bill, which proposes that... 

Gold Brands to mitigate tough economic conditions with unique concepts

By: Megan van Wyngaardt     16th November 2017 While South African franchiser Gold Brands’ revenue for the six months ended August 31 fell 72.6% to R27.6-million year-on-year, owing to losses experienced from store closures incurred by lease expiries, the company’s gross profit margin increased from 30.9% to 47.3%, thanks to a more aligned... 

Small, larger business must join hands to grow economy

By: Megan van Wyngaardt     16th November 2017 South Africa needs more “capitalists with soul” to drive the economy and to allow small business to become more prominent in smaller communities and townships. This was the overall message at the fourth National Small and Medium-Sized and Microenterprise Policy Colloquium, held in Tembisa, on... 

BLSA urges ANC to hold smooth elective conference

By: African News Agency      16th November 2017 Business Leadership South Africa (BLSA) on Thursday urged the ruling African National Congress (ANC) to ensure that it holds a smooth elective conference and respect its outcomes next month, for the sake of the country's prosperity. The ANC will hold its 54th National Conference on 16-20... 

BLSA urges ANC to hold smooth elective conference

Gauteng Dept of Health secures large adjustment in medium-term provincial budget

By: Natasha Odendaal     16th November 2017 The Gauteng Department of Health on Thursday secured the bulk of the adjustments delivered in the Medium-Term Budget Policy Statement and the Adjustment Budget. The total budget of the provincial government increased from R108-billion to R112-billion, with the Department of Health among the... 

Gauteng Dept of Health secures large adjustment in medium-term provincial budget

Ramaphosa urges law enforcement to probe State capture without delay

By: African News Agency      16th November 2017 Deputy President Cyril Ramaphosa on Thursday said South Africa's law enforcement agencies should waste no time in investigating mounting allegations of state capture at the country's parastatals. "The agencies need to pursue all these allegations with equal vigour... it is something the public as... 

Ramaphosa urges law enforcement to probe State capture without delay
Deputy President Cyril Ramaphosa

Standard Bank, ICBC launch programme to spur growth through tourism

By: Anine Kilian     15th November 2017 To further cement trade ties, boost investment flows and encourage tourism between South Africa and China, Standard Bank and the Industrial and Commercial Bank of China (ICBC) have launched the I Go South Africa loyalty programme in partnership with South African Tourism. This initiative, which... 

Shell, AfriForum, TKAG to discuss Karoo fracking 

By: Megan van Wyngaardt     15th November 2017 Shell South Africa country chairperson Hloniphizwe Mtolo will meet with civil rights and environmental protection organisations AfriForum and Treasure the Karoo Action Group (TKAG) to discuss environmental, legal and economic concerns over fracking. The groups received an official commitment from... 

Go Life in bid to acquire Brittan Healthcare

By: Megan van Wyngaardt     15th November 2017 AltX-listed Go Life International intends to acquire 100% of the shares and claims in medical device company Brittan Healthcare for R10-million. “Brittan healthcare offers an instant market in the whole of Southern Africa through its own range of products and services and, going forward, through... 

McKinsey not sure who to refund for Eskom fiasco, partner tells parliamentary probe

By: African News Agency      15th November 2017 Global consultancy firm McKinsey stood ready to repay the money it earned from a flawed Eskom deal but did not know where to direct the R1-billion refund, senior partner Dave Fine told the parliamentary inquiry into allegations of state capture at the power utility. “McKinsey does not want... 

McKinsey not sure who to refund for Eskom fiasco, partner tells parliamentary probe
Parliamentary inquiry

Study urges Eskom to accelerate station decommissioning, curtail Kusile to shore up solvency

By: Terence Creamer     15th November 2017 A new study argues that cash-strapped Eskom could make immediate costs savings of up to R17-billion and boost its liquidity, without undermining security of supply, by accelerating the decommissioning of three of its older coal-fired power stations and by halting construction of units 5 and 6 at... 

Study urges Eskom to accelerate station decommissioning, curtail Kusile to shore up solvency
Meridian MD Dr Grové Steyn

Trade conditions remain constrained in October

By: Natasha Odendaal     15th November 2017 The latest South Africa Chamber of Commerce and Industry (Sacci) Trade Conditions Survey shows that trade conditions remain constrained, with the October Trade Activity Index (TAI) still in negative territory at 46. The survey recorded a two-point month-on-month decline and a five-point... 

Economic instability ‘new normal’ in South Africa, can-do attitude persists amid crime wave

By: Megan van Wyngaardt     15th November 2017 Seventy-two per cent of business executives confirmed that turbulence in the local economy over the past six months has affected business operations and decisions, Grant Thornton’s International Business Report (IBR) for the third quarter shows. Referring to economic instability as the “new... 

Economic instability ‘new normal’ in South Africa, can-do attitude persists amid crime wave

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