http://www.engineeringnews.co.za
R/€ = 15.48 Change: -0.01
R/$ = 13.30 Change: -0.03
Au 1227.12 $/oz Change: -16.99
Pt 817.00 $/oz Change: -12.27
 

Economy News

LHDA opens bids for three LHWP Phase 2 contracts

By: Simone Liedtke     28th May 2018 The Lesotho Highlands Development Authority (LHDA), a bi-national project between the governments of Lesotho and South Africa, intends to procure three construction contracts for the Lesotho Highlands Water Project (LHWP) Phase 2. The first of the contracts will entail the construction of a 33 kV... 

SARB communications head resigns

28th May 2018 The South African Reserve Bank (SARB) on Monday announced the resignation of its head of communications Jabulani Sikhakhane. Sikhakhane’s last day at SARB is May 31 and chief of staff Bulelwa Boqwana will act as communications head until the vacancy is filled. 

SARB communications head resigns

NDB, DBSA to establish framework for cooperation

By: Simone Liedtke     28th May 2018 The multilateral New Development Bank (NDB) and the Development Bank of Southern Africa (DBSA) have signed a memorandum of understanding (MoU) on general cooperation to formalise a framework of cooperation between the two organisations to promote initiatives that foster cooperation in areas of... 

South Africa struggling to improve competitiveness – survey 

By: African News Agency      28th May 2018 The Institute of Management Development (IMD) said on Monday that South Africa had failed to improve on its overall competitiveness, with low economic growth, unemployment and a steep public debt interest payments posing serious bottlenecks for the country's growth.  In its latest World... 

South Africa struggling to improve competitiveness – survey

Govt, business welcome S&P’s ratings decision

By: Marleny Arnoldi     28th May 2018 Government and business leaders have expressed relief at ratings agency Standard & Poor’s (S&P’s) decision on Friday night to not further downgrade South Africa’s investment grade rating, but rather affirm long-term foreign and local currency debt ratings at ‘BB’ and ‘BB+’ respectively. According... 

Govt, business welcome S&P’s ratings decision

Gordhan: SA airlines already working together amid merger talks 

By: News24Wire      28th May 2018 Minister of Public Enterprises Pravin Gordhan told eNCA on Sunday evening that discussions regarding the merger of three government airlines would continue this week with other relevant ministers. South Africa has been abuzz with the potential consequences of merging Mango Airlines with SA... 

 Gordhan: SA airlines already working together amid merger talks
Photo by Reuters
Public Enterprises Minister Pravin Gordhan

SAA, partner airlines assist stranded SA Express passengers

By: Anine Kilian     25th May 2018 South African Airways (SAA) and its partner airlines Mango and SA Airlink have put in place replacement capacity to support South African (SA) Express passengers. This comes after the South African Civil Aviation Authority (SACAA) on Thursday suspended SA Express’ flights after an audit uncovered... 

Size of government under review  

By: Creamer Media Reporter      25th May 2018 President Cyril Ramaphosa revealed on Friday that a review of the size and structure of the National Executive and government departments was under way, with a technical task team having been established to undertake the process. In his reply to a national assembly question by the Democratic... 

Size of government under review
President Cyril Ramaphosa

Aton increases interest in M&R to 43.70%, lifts offer price to R17 a share

By: Simone Liedtke     25th May 2018 German-owned Aton has acquired a further 18.25-million shares in Murray & Roberts (M&R). Following the settlement of these shares’ acquisition, Aton will hold 194.35-million shares in M&R, representing about 43.70% of the entire issued share capital. 

Lost in space?

By: Rebecca Campbell     25th May 2018 Analysts say that the planet Earth’s rapidly-growing space economy could hit $600-billion by 2030 and $1-trillion by 2040. Clearly, the space economy, worth some $350-billion today, is growing rapidly.  

Denel CEO resigns with immediate effect

By: Rebecca Campbell     25th May 2018 State-owned defence industrial group Denel announced on May 15 that its Group CEO, Zwelakhe Ntshepe, had resigned. The resignation was with effect from that same day. He had been appointed Group CEO only six months ago, following two years in which he had been acting in that capacity. Ntshepe had... 

Probe into influence peddling to start hearings in August

By: Reuters     24th May 2018 An inquiry into allegations of influence peddling revolving around former president Jacob Zuma and businessman friends of his will begin formal public hearings in August and could take two years or more, the head of the commission said on Thursday. The allegations around Zuma, forced from office... 

SARB keeps repurchase rate at 6.5%

By: African News Agency      24th May 2018 South Africa's Reserve Bank (SARB) kept its benchmark repurchase rate at which it lends to commercial banks unchanged at 6.5% on Thursday, saying the stance was appropriate given the forecast inflation trajectory and the current state of the economy. The move follows a 25 basis point decrease at... 

SARB keeps repurchase rate at 6.5%

Eskom business-model review aimed at lowering utility’s risk to fiscus

By: Terence Creamer     24th May 2018 Public Enterprises Minister Pravin Gordhan has confirmed that the business model of power utility Eskom is up for discussion as government seeks to reduce the fiscal risk currently posed by utility and to reposition the State-owned enterprise (SoE) for future sustainability. On his eighty-sixth... 

Eskom business-model review aimed at lowering utility’s risk to fiscus
Photo by Creamer Media
Public Enterprises Minister Pravin Gordhan

South Africa authorities halt flights of State-run SA Express over safety

By: Reuters     24th May 2018 South Africa's Civil Aviation Authority (SACAA) said on Thursday it had suspended all flights of state-run airline SA Express over safety concerns. The decision comes after Public Enterprises Minister Pravin Gordhan said on Thursday that he had appointed an "intervention team" to help at the... 

Aspen opens R1bn high containment facility in Port Elizabeth 

24th May 2018 Pharmaceutical company Aspen officially opened its new high containment facility, valued at about R1-billion, earlier this month. Simone Liedtke tells us more. 

Aspen opens R1bn high containment facility in Port Elizabeth
Aspen opens R1bn high containment facility in Port Elizabeth

Despite somewhat dismal FY18 performance, Famous Brands remains cautiously optimistic

By: Simone Liedtke     24th May 2018 Despite a somewhat dismal performance by some of its operations in the financial year ended February 28, branded food services franchisor Famous Brands remains cautiously optimistic about the South African and African landscape, while feeling reserved about its UK operations. This follows... 

Despite somewhat dismal FY18 performance, Famous Brands remains cautiously optimistic

Gordhan appoints new Denel, Transnet, SA Express boards; Hadebe appointed Eskom CEO

By: Anine Kilian     24th May 2018 Public Enterprises Minister Pravin Gordhan has appointed Phakamani Hadebe as Eskom CEO. Hadebe has been acting CEO of the power utility since January. 

Gordhan appoints new Denel, Transnet, SA Express boards; Hadebe appointed Eskom CEO
Photo by Dylan Slater
Eskom CEO Phakamani Hadebe

Coega perfectly poised to participate in lithium-ion battery industry – CDC

By: Simone Liedtke     23rd May 2018 The Coega Special Economic Zone (SEZ) is at an advanced stage of setting up factories that will supply gigawatt factories with manganese, a key ingredient in most lithium-ion batteries. Coega Development Corporation (CDC) business development metallurgic sector manager Sadick Davids says the SEZ... 

Half of Ramaphosa’s SoE council to be made up of people from outside of government

By: Terence Creamer     23rd May 2018 President Cyril Ramaphosa has announced that the composition of the Presidential State-owned Enterprise (SoE) Council, whose establishment has been approved by Cabinet, will be split between Ministers, as well as business people, experts and stakeholders. Speaking in Parliament during the debate... 

Half of Ramaphosa’s SoE council to be made up of people from outside of government
President Cyril Ramaphosa

Local government accountability 'continues to fail' – Makwetu

By: Simone Liedtke     23rd May 2018 Auditor-General Kimi Makwetu on Wednesday emphasised that “accountability continues to fail in local government” as there was an overall deterioration in the audit results of South Africa’s municipalities for the 2016/17 financial year. The Auditor-General South Africa (AGSA) audited 257... 

Local government accountability 'continues to fail' – Makwetu
Auditor-General Kimi Makwetu

Municipalities, State-owned companies must release unused land for urban poor – Ramaphosa

By: African News Agency      23rd May 2018 Municipalities and State-owned companies must expropriate and release unused land for housing the country's urban, landless poor, South African President Cyril Ramaphosa said on Wednesday. "Municipalities and State-owned enterprises need to release unused land and service sites for housing so... 

Municipalities, State-owned companies must release unused land for urban poor – Ramaphosa
President Cyril Ramaphosa

SAA CEO suggests business rescue will bring little benefit to airline

By: Rebecca Campbell     23rd May 2018 South African Airways (SAA) CEO Vuyani Jarana is of the opinion that placing the airline under business rescue would not lead to a radically different recovery plan for the deeply indebted and heavy loss-making national carrier. He was answering a question from FlightComm editor and aviation... 

SAA CEO suggests business rescue will bring little benefit to airline

SA's annual consumer inflation accelerates to 4.5 percent in April

By: African News Agency      23rd May 2018 South Africa's consumer price inflation bounced up 4.5 percent year-on-year in April from a multi-year low of 3.8 percent in March, the statistics agency said on Wednesday. The consumer price index increased by 0.8 percent on a month-on-month basis in April, Statistics South Africa said. 

SA's annual consumer inflation accelerates to 4.5 percent in April

Irregular spend by municipalities up 75% to R28.4bn as audit outcomes regress

By: News24Wire      23rd May 2018 Audit outcomes for municipalities have continued to regress, with irregular and fruitless and wasteful expenditure each ballooning more than 70% for the 2016/17 year. This is according to the audit results for the country’s municipalities for the 2016/17 financial year, released by... 

Irregular spend by municipalities up 75% to R28.4bn as audit outcomes regress
Auditor-General Kimi Makwetu

Aton lifts M&R interest to 39.6%

By: Simone Liedtke     22nd May 2018 German-owned Aton, has acquired a further 6 600 issued ordinary shares in Murray & Roberts (M&R) at R15 a share, taking its shareholding in M&R to 39.6%. Aton is seeking to acquire all of the shares in M&R not already owned by it. 

Study offers upbeat view of Africa’s fourth industrial revolution manufacturing prospects

By: Terence Creamer     22nd May 2018 A newly released study into prospects for manufacturing in Africa offers a relatively upbeat assessment of the industrialisation opportunities that could arise should governments move decisively to harness the disruptive trends associated with the unfolding fourth industrial revolution. Titled... 

Study offers upbeat view of Africa’s fourth industrial revolution manufacturing prospects

Ascendis to get secondary listing on A2X

By: Simone Liedtke     22nd May 2018 Multinational healthcare company Ascendis Health will from May 29, also start trading on new exchange A2X. This follows the approval on Tuesday, in which the company was included in the list of qualifying equity securities. 

African economies urged to take advantage of current global economic upturn

By: Marleny Arnoldi     22nd May 2018 PricewaterhouseCoopers chief economist Lullu Krugel says South Africa and African countries have a three-year window to “move and shape” and take advantage of economic growth opportunities during a global economic upturn.  

Feasibility study on moving Parliament to Pretoria to start this month – Speaker 

By: African News Agency      22nd May 2018 Parliament has appointed a service provider to conduct a feasibility study on moving the national legislature to Pretoria, Speaker Baleka Mbete told members of Parliament (MPs) on Tuesday. "With respect to the proposal of relocating parliament from Cape Town to Pretoria, an external service... 

Feasibility study on moving Parliament to Pretoria to start this month – Speaker

Water officials responsible for irregular spending to get second chance – Nkwinti

By: News24Wire      22nd May 2018 Water and sanitation officials who were involved in dodgy practices that contributed to the department's R6.7-billion in irregular spending last year are to be given a second chance, Minister of Water and Sanitation Gugile Nkwinti said on Tuesday. But he will be watching them. "Part of our... 

Water officials responsible for irregular spending to get second chance – Nkwinti
Water & Sanitation Minister Gugile Nkwinti

Some South African municipalities in financial distress – Treasury

By: Anine Kilian     22nd May 2018 Many municipalities remain in dire financial straits, says the National Treasury.  Its latest report on the state of local government, entitled ‘The State of Local Government and Financial Management 2017’, which was published this week, shows that 17 district municipalities were identified as... 

Ramaphosa appoints new presiding officer for Tom Moyane disciplinary inquiry

By: News24Wire      22nd May 2018 President Cyril Ramaphosa has appointed advocate Azhar Bham, SC, as the presiding officer into the disciplinary charges against suspended South African Revenue Service (Sars) commissioner Tom Moyane. Ramaphosa had initially appointed Judge Kate O’Regan to do the inquiry. 

 Ramaphosa appoints new presiding officer for Tom Moyane disciplinary inquiry
Photo by Creamer Media
Suspended Sars commissioner Tom Moyane

Land reform unlikely to mean constitutional change – analysts

By: Reuters     22nd May 2018 South Africa looks likely to implement land redistribution under existing laws rather than by changing the constitution following a ruling party summit, in an approach more palatable to investors, analysts said on Tuesday. President Cyril Ramaphosa, who came to power in February when former... 

Land reform unlikely to mean constitutional change – analysts

Nene says outlook for tax revenues unchanged

By: Reuters     22nd May 2018 Finance Minister Nhlanhla Nene said on Tuesday that the outlook for tax revenues remain unchanged, in a blow to the chances of reducing the budget deficit. Nene made the comments in parliament. 

Nene says outlook for tax revenues unchanged
Photo by Creamer Media
Finance Minister Nhlanhla Nene

Proposed Mpumalanga SEZ to boost provincial economy, skills development

By: Simone Liedtke     21st May 2018 Trade and Industry Minister Dr Rob Davies has approved a recommendation that the Nkomazi Special Economic Zone (SEZ), in Mpumalanga, be designated and has called on the public and interested parties to comment on the proposed designation by June 28. The application for the designation of the... 

Operational due diligence important to mitigating risk

By: Anine Kilian     21st May 2018 Investing in operational risk management is key to mitigating corporate fraud, poor governance and simple errors which result in losses for companies and consequently investors, Mercer Sentinel Africa Middle East, India and Turkey head Nigel Morriss said on Monday. Addressing media at a briefing... 

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
Subscribe Now for $119
Free daily email newsletter Register Now
Subscribe Now for $119 Close