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Economy News

Visa regulation amendments to ease entry for business travellers, tourists

By: Tasneem Bulbulia     25th September 2018 The Department of Home Affairs (DHA) is pursuing new regulations to make it easier for business travellers, tourists and academia to enter South Africa, but South African minors leaving the country will still need consent from both parents when leaving the country. The announcement of the new... 

Global crude steel production rises 2.6% y/y in August

By: Simone Liedtke     25th September 2018 Global crude steel production increased by 2.6% year-on-year to 151.7-million tonnes in August, the World Steel Association (worldsteel) reports. According to the data, which was released on Tuesday, China’s crude steel production for August was 80.3-million tonnes, an increase of 2.7% compared... 

KSB Pumps and Valves obtains Level 1 BBBEE certification

By: Simone Liedtke     25th September 2018 Global pump manufacturer KSB Pumps and Valves has obtained Level 1 broad-based black economic empowerment (BBBEE) certification. This follows the acquisition of a 30% equity stake in the company by black women-owned firm Insikazi Synergies, which has joined the KSB board to play an active role in... 

KSB Pumps and Valves obtains Level 1 BBBEE certification

Wind body seeks right to contest Nersa report on delayed renewables projects

By: Creamer Media Reporter      25th September 2018 The National Energy Regulator of South Africa (Nersa) Tribunal has invited the South African Wind Energy Association (SAWEA) to present its case this week as to why the tribunal should hear the association’s arguments in opposition to a 2017 Nersa panel report. The document in question concluded... 

Wind body seeks right to contest Nersa report on delayed renewables projects

New Eskom strategy to include pan-African expansion roadmap

By: Terence Creamer     25th September 2018 State-owned electricity utility Eskom has confirmed that its new strategy, which will involve far-reaching changes to its business model, will seek to position the company for opportunities arising in the rest of Africa. “Growth opportunities for Eskom are not restricted to South Africa. To grow... 

New Eskom strategy to include pan-African expansion roadmap

Rand steady ahead of Fed rates announcement on Wednesday

By: News24Wire      25th September 2018 The rand held steady over the long weekend, opening at R14.37 on Tuesday morning following the public holiday on Monday. The local currency was trading at R14.38 to the greenback by 11:23. 

 Rand steady ahead of Fed rates announcement on Wednesday

South African portfolio inflows plummet in second quarter

By: Reuters     25th September 2018 Portfolio investments into the South African economy fell sharply in the second quarter, as investor risk aversion towards emerging markets was rising, central bank data showed on Tuesday. Inward investment into South African bonds and equities shrank to R16.6-billion ($1.16-billion) from... 

South Africa to relax visa rules to boost investment, tourism 

By: Reuters     25th September 2018 South Africa will ease some immigration rules, including agreeing visa waiver agreements with more countries, in an effort to boost investment and tourism, Home Affairs Minister Malusi Gigaba said on Tuesday. The changes are part of a broader economic turnaround programme announced by President... 

South Africa to relax visa rules to boost investment, tourism
Home Affairs Minister Malusi Gigaba

Selling off assets won't save SAA, says DA

By: African News Agency      24th September 2018 Reported plans to sell off certain assets will not save the South African Airways (SAA) and the airline needs to be put into business rescue, the Democratic Alliance said on Sunday. The DA was not surprised by media reports on Sunday that SAA was contemplating selling off assets as a result of... 

South African investment mission to Japan 'successful', says acting Invest SA head

By: African News Agency      24th September 2018 Many Japanese companies are keen to invest in South Africa and others are interested in expanding their investments, Invest South Africa acting head Yunus Hoosen said on Sunday. . In a statement after returning from an investment mission by the trade and industry department (DTI), together with... 

Initiative seeks to further local procurement in franchising

By: Tasneem Bulbulia     21st September 2018 The Franchise Association of South Africa (Fasa) has partnered with Proudly SA to increase the local procurement of goods and services within the franchising sector by facilitating collaboration between suppliers, franchisors and franchisees. This joint enterprise development initiative was... 

Franchising sector records positive growth

By: Tasneem Bulbulia     21st September 2018 Franchising continues to show growth and resilience despite challenging socioeconomic and political challenges in the country. The industry has an estimated turnover of R721-billion in the last financial year, the Franchise Association of South Africa (Fasa) reported on Friday. 

Ramaphosa's new 10-person land reform advisory panel

By: News24Wire      21st September 2018 President Cyril Ramaphosa has announced the names of his 10-person advisory panel on land reform.  The president announced the establishment of the panel when he unveiled the state's stimulus package on Friday morning in Pretoria.  

Ramaphosa's new 10-person land reform advisory panel
Inter-Ministerial Committee on Land Reform chairperson Deputy President David Mabuza

Gordhan: Stimulus plan all about implementation

By: News24Wire      21st September 2018 President Cyril Ramaphosa's newly-announced economic stimulus package has a specific focus on implementation, say economic cluster ministers Pravin Gordhan and Ebrahim Patel. Ramaphosa on Friday morning announced a raft of measures in an effort to reignite growth, restore investor confidence,... 

 Gordhan: Stimulus plan all about implementation
Photo by Dylan Slater
Public Enterprises Minister Pravin Gordhan

Ramaphosa announces economic stimulus and recovery plan 

21st September 2018 Creamer Media's Chanel de Bruyn speaks to Engineering News Editor Terence Creamer about the new economic, stimulus and recovery plan for South Africa and whether it will help South Africa in its economic recovery. 

Ramaphosa announces economic stimulus and recovery plan
Ramaphosa announces economic, stimulus and recovery plan

Angola, IFC court South African investors

By: Nadine James     21st September 2018 World Bank Group executive director for Angola, Nigeria and South Africa Bongiwe Kunene says a roundtable event taking place on September 24, will enable South African businesses and investors to explore the growth opportunities in Angola created as a result of the 2017 election of that country’s... 

Ramaphosa aims to crowd in private resources for infrastructure fund

By: Terence Creamer     21st September 2018 President Cyril Ramaphosa has placed the creation of a public-private infrastructure fund at the heart of an economic stimulus and recovery plan, otherwise constrained by South Africa’s serious fiscal constraints. In unveiling the plan during a briefing at the Union Buildings in Pretoria on... 

Ramaphosa aims to crowd in private resources for infrastructure fund
Photo by GCIS
President Cyril Ramaphosa

Mining Charter to be gazetted next week

By: African News Agency      21st September 2018 The final Mining Charter would be gazetted next week by Mineral Resources Minister, Gwede Mantashe. The Charter was approved with minor amendments by the September 19 Cabinet meeting. 

 Mining Charter to be gazetted next week
Photo by Creamer Media
Mineral Resources Minister Gwede Mantashe

South Africa to reallocate R50bn of budget to revive economy – Ramaphosa

By: Reuters     21st September 2018 South African President Cyril Ramaphosa announced a raft of policy reform plans on Friday, including re-prioritising R50-billion ($3.5-billion) of public spending to boost economic growth and create jobs. Africa's most industrialised economy entered recession in the second quarter for the first... 

South Africa to reallocate R50bn of budget to revive economy – Ramaphosa
Photo by Reuters
President Cyril Ramaphosa

Ramaphosa's stimulus plan could push rand to R14/$

By: News24Wire      21st September 2018 The rand started Friday off on the front foot, adding to Thursday's 2% gain against the US dollar on good CPI data, healthy inflow in the bond market and as traders await President Cyril Ramaphosa's stimulus package. The local unit added 0.5% to R14.21 to the US dollar before retreating to the... 

Ramaphosa's stimulus plan could push rand to R14/$
President Cyril Ramaphosa

Ramaphosa to lead SA delegation to UN assembly

By: African News Agency      21st September 2018 President Cyril Ramaphosa will on Saturday travel to New York where he will lead a South African delegation at the 73rd session of the United Nations (UN) General Assembly, his office said on Friday. In his first participation at the assembly as head of state, Ramaphosa will take part in an... 

Ramaphosa to lead SA delegation to UN assembly
President Cyril Ramaphosa

A ‘sovereign innovation fund’ proposed in draft technology policy

By: Rebecca Campbell     21st September 2018 The Department of Science and Technology (DST) has, in its recently released draft White Paper on Science, Technology and Innovation (STI), stated that a “sovereign innovation fund” is to be created. “There is a need for increased commercialisation funding,” said section 6.2 of the draft White... 

SA aims to set new innovation agenda as Draft White Paper is released

By: Rebecca Campbell     21st September 2018 The Presidency is to lead a Science, Technology and Innovation (STI) “Plenary meeting” involving major sectors of South African government and society, Science and Technology Minister (Ms) MT Kubayi-Ngubane told the media at the recent launch of the Department of Science and Technology’s draft... 

Draft White Paper changes focus to improve impact on country

By: Rebecca Campbell     21st September 2018 The Department of Science and Technology’s (DST’s) recently released draft White Paper on Science, Technology and Innovation (STI) contains a number of policy shifts in comparison with its predecessor, the 1996 White Paper on Science and Technology. These are intended to allow STI to fulfil its... 

Lifestyle diseases impact on HVAC industry employees

By: Paige Müller     21st September 2018 Occupational health services provider Working Knowledge International has raised concerns about the lack of market education pertaining to risks associated with lifestyle diseases which impacts on employees working in the heating, ventilation, and air-conditioning (HVAC) industry. Working... 

Lifestyle diseases impact on HVAC industry employees
HEALTH AND PRODUCTIVITY Working Knowledge provides companies with professional advice based on legislative requirements for employees working in the HVAC industry

Culture imperative in facilitating safe workplaces

21st September 2018 Creating a safe working environment is a complex issue and requires a concerted effort by all stakeholders over a sustained period of time, posits cement, lime and related products supplier PPC technical and lime executive Hardie de Beer. “It is this understanding that is at the core of PPC’s... 

Culture imperative  in facilitating  safe workplaces
Photo by Bloomberg
SAFE APPROACH While there is no single formula for creating a safe workplace, there are certain basic principles that can be adapted to create an all-important safety culture

Pilot programme seeks to align artisan training with industry needs

By: Schalk Burger     21st September 2018 The Centres of Specialisation pilot programme has been launched by the Department of Higher Education and Training (DHET) to develop a focused and industry-led apprenticeship structure for 13 priority trades needed for infrastructure development. The objective is to test the effectiveness of... 

Pilot programme seeks to align artisan training with industry needs

Greater demand for transparency needed in African real estate industry

By: Simone Liedtke     20th September 2018 There is a growing acknowledgement of the central role that a transparent real estate sector plays in providing healthy, productive and competitive environments for communities and businesses, investment management company JLL global research head Jeremy Kelly said on Thursday. Market... 

Positive performance, outlook for construction industry

By: Tasneem Bulbulia     20th September 2018 There has been a very good increase in the value of buildings completed in larger municipalities during the second quarter of this year, to the tune of almost 7%, which presents a recovery from the sluggish growth of the first quarter of the year, the latest Afrimat Construction Index (ACI)... 

SARB keeps repo rate unchanged at 6.5% 

By: News24Wire      20th September 2018 The South African Reserve Bank announced on Thursday afternoon that it will keep the repo rate unchanged at 6.5%.  The announcement was made by the central bank's governor Lesetja Kganyago at a media briefing in Pretoria.  

SARB keeps repo rate unchanged at 6.5%
Photo by Reuters
SARB governor Lesetja Kganyago

Phosa says South Africa should be ‘plotting’ a credible economic strategy 

By: Terence Creamer     20th September 2018 Former African National Congress (ANC) treasurer-general Mathews Phosa made a forthright appeal on Thursday for the creation and implementation of a credible economic strategy, centred on growth and job creation, rather than “vague, ill-timed, conflicting and populist” policies. Speaking at the... 

Phosa says South Africa should be ‘plotting’ a credible economic strategy
Former African National Congress (ANC) treasurer-general Mathews Phosa on the need for a credible economic strategy, centred on growth and job creation, rather than 'vague, ill-timed, conflicting and populist policies'. Camera Work & Editing: Nicholas Boyd.

Cabinet approves new Mining Charter 

By: Reuters     20th September 2018 The South African Cabinet has approved the latest version of the long-delayed mining charter which lay outs requirements for black ownership levels and other targets, a cabinet minister said on Thursday. Communications Minister Nomvula Mokonyane told reporters that more details about the charter... 

Cabinet approves new Mining Charter

Ramaphosa to unveil economic stimulus package on Friday

By: News24Wire      20th September 2018 President Cyril Ramaphosa will unveil a stimulus package that he hopes will kick-start South Africa’s lagging economy on Friday morning.  Cabinet has signed off on the measures, which they hope will reignite economic growth, said Minister of Communications Nomvula Mokonyane on Thursday morning. 

Ramaphosa to unveil economic stimulus package on Friday
President Cyril Ramaphosa

Saudi Arabia offers opportunities to South African defence industry

By: Rebecca Campbell     20th September 2018 State-owned Saudi Arabian Military Industries (SAMI) is seeking very close relationships with South African defence companies. "We are ready to invest in the South African defence industry and fund local research and development (R&D)," SAMI CEO Dr Andreas Schwer told Engineering News Online at... 

Saudi Arabia offers opportunities to South African defence industry
Photo by Dylan Slater
SAMI CEO Dr Andreas Schwer

Interest rates likely to stay unchanged as economy struggles

By: African News Agency      20th September 2018 South Africa's central bank is likely to keep interest rates unchanged on Thursday despite inflationary pressures stemming largely from a weaker rand, hamstrung mostly by concerns over the ailing economy. The economy slipped into a recession after gross domestic product contracted by 0.7 percent... 

Interest rates likely to stay unchanged as economy struggles

Poor internal coordination in SA cities adding to cost of doing business

By: Terence Creamer     19th September 2018 A new World Bank report highlights how a lack of internal coordination between departments within several of South Africa’s largest cities is undermining the delivery of services to businesses operating within those locations and burdening entrepreneurs with timing consuming and costly red tape.... 

Poor internal coordination in SA cities adding to cost of doing business

JSE looks to tighten listing rules

By: Reuters     19th September 2018 The Johannesburg Stock Exchange (JSE) wants to increase the minimum capital amount required for a primary listing and is considering stricter rules on secondary listings as it seeks to improve corporate governance. Africa's biggest securities exchange published its proposals in a public... 

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