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Alibaba’s Jack Ma to speak at Ramaphosa’s Investment Conference dinner 

By: Terence Creamer     Updated 7 hours ago Chinese tech sensation Jack Ma will deliver the keynote speech at a dinner to be hosted by President Cyril Ramaphosa on October 26 as part of the inaugural South Africa Investment Conference. The conference will take place at the Sandton Convention Centre, in Gauteng, from October 25 to 27, in... 

Alibaba’s Jack Ma to speak at Ramaphosa’s Investment Conference dinner
Jack Ma

Sasol reports strong Natref turnaround as oil, rand provide Q1 tailwind 

By: Terence Creamer     18th October 2018 Energy and chemicals group Sasol reports that a turnaround in the production performance of the Natref refinery, in the Free State, helped offset the effects of an extended shutdown at its Secunda operations during the first quarter of its 2018/19 financial year. The JSE-listed company attributed... 

Sasol reports strong Natref turnaround as oil, rand provide Q1 tailwind
Natref refinery

South Africa poised to adopt plan to boost local car industry suppliers 

By: Reuters     18th October 2018 South Africa is likely to adopt new plans for the country's car industry in December which aim to increase the local content of assembled cars to 60% by 2035 from around 38% now, a cabinet minister said on Thursday. The new plan, which will come into effect in 2021, seeks to provide stability for... 

South African army chief slams budget cuts as 'dangerous'

By: News24Wire      Updated 7 hours ago Budget cuts at the South African National Defence Force (SANDF) could result in a lack of proper training for those who should be equipped to protect the country, the South African army chief has warned. General Lindile Yam was speaking at a media briefing in Thaba Tshwane on Thursday, where he... 

Getting Africa fit for the future requires good governance – Africa Forum

By: Marleny Arnoldi     18th October 2018 Law firm Hogan Lovells Africa head and partner Andrew Skipper on Thursday opened the firm’s Africa Forum conference by stating that, in Africa, there is a combination of optimism and scepticism, but stressed that the available opportunities were enormous. “Currency, corruption and certainty need... 

Getting Africa fit for the future requires good governance – Africa Forum
Business Leadership South Africa CEO Bonang Mohale

M&A activity slowly increasing in Africa

By: Marleny Arnoldi     18th October 2018 Merger and acquisition (M&A) activity has been slower in South Africa, compared with prior years; however, other African countries have seen an increase in deals closed, said Hogan Lovells partner Sibongile Solombela at the firm’s Africa Forum conference held on Thursday. M&A activity is still... 

South African slump batters smaller neighbours protecting rand peg

By: Bloomberg     18th October 2018 South Africans aren’t the only ones struggling through the country’s economic slump. The fortunes of Lesotho, Namibia, and eSwatini, formerly known as Swaziland, are beholden to developments in their larger neighbor with their exchange rates pegged to the rand, the worst-performing major currency... 

Telecommunications industry loses billions of rands on the back of regulatory uncertainty

By: Natasha Odendaal     Updated 7 hours ago The South African telecommunications industry needs regulatory certainty or it will continue to lose billions of rands in investment, Vodacom Group CEO Shameel Joosub warned on Thursday. Speaking during a question and answer panel at the MyBroadband conference, in Midrand, he explained that the... 

Liquid eyes further expansion as Cape to Cairo links up

By: Natasha Odendaal     18th October 2018 Pan-African telecommunications group Liquid Telecom is eyeing further expansion across the African continent after completing its Phase 1 decade-long project of connecting a 60 000 km network from Cape Town, South Africa, to Cairo, Egypt. The group on Thursday reported that, following the... 

Transnet starts preparation work on reconstruction of Island View accumulator tanks

By: Creamer Media Reporter      Updated 7 hours ago State-owned Transnet has started preparation work on the reconstruction of the accumulator tanks at the Island View precinct in the Port of Durban, with the project expected to get under way in 2019. The project plan for the reconstruction of the tanks is currently at a feasibility phase, with... 

Rexroth HUBB launches to fully consolidate companies

By: Tasneem Bulbulia     Updated 5 hours ago The Rexroth HUBB, in Kempton Park, was officially inaugurated on Thursday. The 16 000 square metre central hub houses the Bosch Rexroth South Africa group of companies, formerly the Hytec Group. 

Altron appoints another acting CFO

By: Creamer Media Reporter      Updated 7 hours ago JSE-listed Allied Electronics (Altron) has appointed Andrew Holden acting CFO, effective October 19. This follows the resignation by acting CFO Tim Jacobs, who will assume a permanent CFO role at a multinational group as from October 19. 

South Africa elected chair of ACF

18th October 2018 South Africa has been elected chair of the continental competition body, the African Competition Forum (ACF).   The body, which comprises 31 members and five regional competition agencies, voted for three positions that include the chair, vice chair and the steering committee at a biennial... 

South Africa elected chair of ACF

Africans fear trend towards levies on data, services

By: Reuters     18th October 2018 The brisk business Julius Kirya did from his cash transfer kiosk in the Ugandan capital has slowed right down with a new tax on mobile money. Many of his customers have returned to sending banknotes by hand, in some cases via motorbike taxi. How to tax digital revenues, from fintech to social... 

Nigeria central bank, MTN getting closer to settlement – Minister

By: Reuters     18th October 2018 Nigeria's central bank and South African telecommunications firm MTN could soon strike a deal in their dispute over the repatriation of $8.1-billion, Nigeria's information minister said on Wednesday. The central bank says MTN transferred $8.1-billion of funds out of Nigeria in breach of... 

Germany's Voith to supply more turbines for Ethiopia's Renaissance Dam

By: Reuters     18th October 2018 German mechanical engineering conglomerate Voith has signed an agreement to supply turbines for a $4-billion dam Ethiopia is building along the River Nile, state-affiliated media said on Wednesday. The 6 000 MW Grand Renaissance Dam is the centrepiece of the Horn of Africa country's bid to become... 

Govt ready to woo potential investors at SA Investment Conference

By: African News Agency      18th October 2018 Confirmed attendees for next week's South Africa Investment Conference - government's attempt to unlock investment to grow the local economy and create jobs - include JSE listed companies with a market capitalisation of R6.5-trillion and Fortune 500 companies with a market cap of US$4-trillion,... 

Govt ready to woo potential investors at SA Investment Conference
Photo by Dylan Slater
Economic Development Minister Ebrahim Patel

Divercity invests R2bn in Absa Towers, Jewel City redevelopments as part of inner city rejuvenation 

18th October 2018 Divercity Urban Property Fund is investing R2-billion in two redevelopment projects – the Absa Towers Main building and Jewel City – in Johannesburg, as part of its strategy to create thriving mixed-use inner city precincts. Tasneem Bulbulia tells us more. 

Divercity invests R2bn in Absa Towers, Jewel City redevelopments as part of inner city rejuvenation

Ramaphosa orders inquiry at State pension fund

By: Reuters     18th October 2018 President Cyril Ramaphosa on Wednesday appointed a judicial inquiry into the R2-trillion State pension fund, a government gazette said, following corruption allegations. The PIC is Africa's biggest pension fund and the biggest investor in South Africa's economy holding a large volume of bonds... 

Ramaphosa orders inquiry at State pension fund
President Cyril Ramaphosa

Draft IRP comment deadline nears 

18th October 2018 Creamer Media's Chanel de Bruyn speaks to Engineering News Editor Terence Creamer about the upcoming deadline for public comment on the draft Integrated Resource Plan (IRP), the main areas of contention and what Cabinet is likely to decide when deliberating on the final IRP. 

Draft IRP comment deadline nears

Keep coal’s current share of the energy mix, says NUM

By: Kim Cloete     18th October 2018 The National Union of Mineworkers (NUM) has called for coal to be retained far more strongly in the country’s energy mix. In its submission on the draft Integrated Resource Plan (IRP) 2018, the NUM Western Cape said it was concerned that coal’s share in the energy mix was set to be reduced. “As... 

Renewable energy industry comments on draft IRP

By: Kim Cloete     17th October 2018 The renewable energy sector in South Africa has welcomed the draft Integrated Resource Plant (IRP) 2018, but has also expressed concerns. “While the IRP forecasting is rational in its choices, it unfortunately requires us to accept some overly optimistic assumptions,” said the South African... 

Organisations raise objections to the draft IRP

By: Kim Cloete     17th October 2018 Industry bodies and organisations have welcomed aspects of the draft Integrated Resource Plan 2018 but have also raised concerns during public hearings held in Parliament on Wednesday. They are hoping that their suggestions will be included in a final plan for South Africa’s energy future. 

African countries can leapfrog technologies, if they understand the requirements

By: Rebecca Campbell     17th October 2018 The world, in trade and industrial terms, is being disrupted by both technological and political developments, providing opportunities but also posing risks to African countries. So highlighted University of Cape Town Mandela School of Public Governance Professor Carlos Lopes. On the... 

Improved, integrated healthcare waste management policy needed – health dept

By: Marleny Arnoldi     17th October 2018 A survey conducted by Department of Health found that the majority (79%) of Gauteng public healthcare facilities have a healthcare waste management policy (HCWMP) in place; however, the policy was not always integrated with the various environmental, occupational health and safety as well as... 

First electricity from Imaloto slated for 2021 

By: Simone Liedtke     17th October 2018 Aim-listed Bushveld Minerals, parent company of coal and energy company Lemur Holdings, on Wednesday announced that the Imaloto project is on track to deliver electricity to south-western Madagascar by 2021. The Imaloto project is a developing integrated thermal coal mining and independent power... 

First electricity from Imaloto slated for 2021
Bushveld Minerals CEO Fortune Mojapelo

It’s a tough market out there and it’s not getting better, says CMH

By: Irma Venter     17th October 2018 It has been a challenging year for corporate South Africa, says Combined Motor Holdings (CMH). “The economy has suffered from the after-effects of years of corruption and mismanagement, [as well as] the ANC's recent pronouncement that it intends to amend the Constitution to allow land... 

It’s a tough market out there and it’s not getting better, says CMH

Sanral e-toll proposals are desperate threats – Outa

By: Sashnee Moodley     17th October 2018 The South African National Roads Agency Limited’s (Sanral’s) various proposals to try and force motorists to pay outstanding e-toll bills are desperate threats and will be extremely difficult to implement, said the Organisation Undoing Tax Abuse (Outa) on Wednesday. Sanral CEO Skhumbuzo Macozoma... 

Sanral e-toll proposals are desperate threats – Outa

GE calls for more coal power within the IRP 

By: Kim Cloete     17th October 2018 General Electric (GE) has called on the South African government to reconsider investing in a further 1 600 MW of coal-fired power generation capacity, describing it as "the lifeblood" of South Africa’s economy, a significant job creator and important source of foreign exchange. “The removal of 1... 

Poverty comes with a data premium – Competition Commission hears 

By: Natasha Odendaal     17th October 2018 Just over a year since initiating a market inquiry into data services, the Competition Commission on Wednesday kicked off its three-day public hearings to obtain a clear understanding of what is causing or leading to high data prices, along with the current state of competition, in South Africa.... 

Latest WEF global competitiveness report raises red flags for South Africa

By: Simone Liedtke     17th October 2018 The World Economic Forum’s (WEF’s) latest findings in its Global Competitiveness Report for 2018/19 again raised several flags about factors in South Africa’s economic performance, which are having a serious negative impact on its international competitiveness, says North West University... 

More trains subject to manual authorisation due to signalling defects, MPs told

By: African News Agency      17th October 2018 The number of passenger trains on South African railway tracks subject to manual authorisation because of defective signalling systems continues to rise, MPs heard on Tuesday. Briefing Parliament's portfolio committee on transport, the Rail Safety Regulator (RSR) acting chief executive Tshepo... 

Nigeria State oil company denies existence of $3.5bn fuel subsidy fund

By: Reuters     17th October 2018 Nigeria's State oil company on Wednesday denied parliament's accusation that it had a $3.5-billion fund to surreptitiously subsidise imports of gasoline. The upper house Senate said on Tuesday it would investigate the fund it said the Nigerian National Petroleum Corporation (NNPC) was using... 

E-waste recycling sector still underdeveloped in South Africa

By: Marleny Arnoldi     17th October 2018 The South African electronic-waste (e-waste) recycling industry has not yet reached a point where most components are recovered for reuse, University of KwaZulu-Natal rare earth recycling technologies researcher Mark Williams-Wynn told delegates at the WasteCon 2018 exhibition on Wednesday. He... 

Workers strike over pay at South African arms maker Denel

By: Reuters     17th October 2018 Hundreds of South Africa's Solidarity union members held a strike on Wednesday over a pay dispute at cash-strapped State-owned weapons manufacturer Denel. Denel, which produces military kit for South Africa's army and foreign forces, has held talks with unions over voluntary severance packages,... 

Informal waste pickers should be integrated into formal waste management sector, suggests analyst

By: Marleny Arnoldi     17th October 2018 The informal waste economy in South Africa has been largely responsible for the high rates of post-consumer material recycling that have been achieved, GreenCape Sector Development Agency waste economy analyst Dr Kirsten Barnes noted during a presentation at WasteCon 2018, on Wednesday. Her... 

Cape Town e-bus rollout in limbo until Whitehead investigation wraps up end-2018 

By: Irma Venter     17th October 2018 The City of Cape Town’s bid to use electric buses within its MyCiti system has been stalled by the investigation into former Transport and Urban Development Authority (TDA) commissioner Melissa Whitehead. A fleet of eleven electric buses was scheduled for arrival by the end of 2017, “operating by... 

Cape Town e-bus rollout in limbo until Whitehead investigation wraps up end-2018

Zambian power firm CEC divests from telecoms business

By: Reuters     17th October 2018 Copperbelt Energy Corp (CEC) has sold its 50% stake in CEC Liquid Telecom to Pan-African telecoms group Liquid Telecommunication Holdings, the power firm said on Tuesday. CEC, Zambia's main supplier of power for its mines, and Liquid Telecom were equal partners in the joint telecoms firm since... 

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