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Latest News

CSIR signals renewables-led electricity mix by 2050

By: Terence Creamer     16th November 2017 The CSIR Energy Centre has published updated research outcomes indicating that South Africa’s least-cost electricity mix, by 2050, includes predominantly solar photovoltaic (PV) and onshore wind contributing nearly 80% of the country’s electrical energy. The research outcomes, which were released... 

National Disaster Centre declined to help thirsty Beaufort West – province

By: News24Wire      16th November 2017 The National Disaster Management Centre declined a request to provide drought-stricken Beaufort West with emergency funding due to the initial stated terms, the Western Cape Local Government Department said on Tuesday. However, the province was re-negotiating the terms, said James-Brent Styan,... 

China's Chalco plans to launch Guinea bauxite mine by early 2018

By: Reuters     16th November 2017 A unit of China's biggest state-run aluminium firm, Chinalco, plans to start producing bauxite at its project in the West African nation of Guinea later this year or early in 2018, a company executive said on Thursday. Guinea's mines ministry said in August that Chalco, Chinalco's listed arm,... 

Wind energy industry optimistic despite frustrations

By: Kim Cloete     15th November 2017 The South African Wind Energy Association (SAWEA) is confident that the tide will turn and that Eskom will soon, and finally, sign the outstanding power purchase agreements (PPAs) that have delayed the renewable energy industry for the past two years. SAWEA chairperson Mark Pickering outlined the... 

Wind energy industry optimistic despite frustrations

Growthpoint makes operational management changes

     15th November 2017 Owing to a revised operational management structure, JSE-listed Growthpoint CEO Norbert Sasse will become group CEO, from March 1, 2018. Sasse’s primary focus will be on the strategic direction of the group, aligned with Growthpoint’s internationalisation strategy, and overseeing and representing... 

Altron disposes of Powertech Transformers for R250m

By: Natasha Odendaal     15th November 2017 JSE-listed Allied Electronics (Altron) has reached an agreement to dispose of its 80% interest in Powertech Transformers to a broad-based black economic empowerment consortium for R250-million. The consortium comprises European transformer manufacturer SGB-SMIT and local black-owned company Power... 

SAB’s BBBEE scheme disburses R2.6bn over 7 years

By: Natasha Odendaal     15th November 2017 Since its establishment in 2010, South African Breweries’ (SAB’s) broad-based black economic empowerment (BBBEE) scheme SAB Zenzele has disbursed R2.6-billion to its three shareholder groups. About 40 000 black shareholders hold a collective 8.45% in the company through the R7.3-billion SAB... 

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... 

Dipula weathers ‘tough’ economic conditions to post 5.8% y/y growth in FY dividends

By: Megan van Wyngaardt     15th November 2017 JSE-listed diversified real estate investment trust (Reit) Dipula Income Fund has “overcome tough macroeconomic conditions” to post a 5.8% increase in combined dividends a share for the financial year ended August 31, driven entirely by organic growth. The Reit’s revenue edged over the... 

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... 

South Korea scores partial win in WTO ruling on US steel pipe duties

By: Reuters     15th November 2017 South Korea won a partial victory on Tuesday when a World Trade Organization panel ruled on its legal challenge to US anti-dumping duties on steel pipe used in the oil industry, but Seoul lost most of the arguments it had made. The WTO dispute panel faulted the US Department of Commerce for the... 

Nampak FY headline earnings expected to increase

By: Natasha Odendaal     15th November 2017 JSE-listed Nampak expects its headline earnings per share (HEPS) for the financial year ended September 30 to increase by 11% to 17% to between 119.4c and 125.9c, compared with 107.6c apiece in the prior year. Earnings per share (EPS) are, however, expected to contract by 84% to 88% to between... 

Kenya Airways completes $2bn debt restructuring

By: Reuters     15th November 2017 Kenya Airways has finished restructuring $2-billion of debt, the carrier said on Wednesday, completing a key part of its turnaround plan after heavy losses. The airline's top shareholder, the Kenyan government, and 11 local lenders converted the bulk of their debts into shares, helping to relieve... 

Isabel dos Santos dismissed as chair of Angola's Sonangol – Presidency

By: Reuters     15th November 2017 Angolan President Joao Lourenco has dismissed Isabel dos Santos as chair of the country's State oil company Sonangol, the President's spokesperson said on Wednesday. Dos Santos will be replaced by Carlos Saturnino, a former Sonangol executive who was most recently secretary of state for oil. 

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... 

Gemgrow delivers maiden FY dividend under revamped property portfolio

By: Natasha Odendaal     15th November 2017 JSE-listed Gemgrow Properties has declared a full-year dividend, exceeding its earlier forecasts, of 73.51c for each B share and 101.87c for each A share as the real estate investment trust (Reit) delivered its maiden full-year results with a reconstituted property portfolio. The Reit, previously... 

Mercedes-Benz to challenge commuter bus market with entry-level product

By: Irma Venter     15th November 2017 Daimler Trucks and Buses Southern Africa (DTBSA) has launched an entry-level Mercedes-Benz commuter bus aimed at fleet operators such as Putco and Golden Arrow Bus Services. The OF-1723 (pronounced 17-23) bus chassis is currently imported from the Daimler plant in India, but should be assembled... 

Mercedes-Benz to challenge commuter bus market with entry-level product

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

Cartrack reaches subscriber milestone

By: Megan van Wyngaardt     15th November 2017 Fleet management, stolen vehicle recovery and insurance telematics services provider Cartrack has reached 700 000 active subscribers, it said on Wednesday. The JSE-listed company attributed the robust subscriber growth to its dedicated workforce focusing on consistent customer engagement and the... 

Western Cape appeals for Zuma's help with drought

By: News24Wire      15th November 2017 The Western Cape appealed for assistance from national government with the drought and water crisis engulfing the province at a meeting of President Jacob Zuma's President's Coordinating Council (PCC) on Tuesday at Tuynhuys, in Cape Town. James-Brent Styan, spokesperson for Western Cape MEC for... 

China iron-ore, steel prices rise ahead of output curbs

By: Reuters     14th November 2017 China's iron ore futures edged up on Tuesday along with prices for steel rebar, buoyed as some steel mills ramped up production a day before winter output cuts take full effect. Industrial plants in northern China have been ordered to curb output by up to 50% during the heating season that kicks... 

Few cities have experience to deliver smart city systems

By: Schalk Burger     14th November 2017 Transforming the world by 2030 to meet the United Nations Sustainable Development Goals will require the establishment of more smart cities, information and communication technology multinational Huawei industry, marketing and solution department CTO Joe So told delegates at the Smart City World... 

Atlatsa incurs $292m loss

By: Martin Creamer     14th November 2017 Toronto- and Johannesburg-listed platinum-mining company Atlatsa, which has platinum assets on the northern and eastern limbs of the Bushveld Complex, incurred a net loss of $292.6-million in the nine months to September 30, when its liabilities exceeded its assets by $142.5-million. The main... 

Atlatsa incurs $292m loss
Photo by Duane Daws
Atlatsa chief commercial officer Joel Kesler

South African govt can’t keep track of multiple probes into State rail

By: African News Agency      14th November 2017 There were so many investigations by different service providers into corruption at the Passenger Rail Agency of South Africa (PRASA) that government could not keep track, Transport MInister Joe Maswanganyi told MPs on Tuesday. “There are so many investigations there, some we don’t even know what... 

Foskor still contesting Competition Tribunal price findings

By: Megan van Wyngaardt     14th November 2017 In response to earlier reports that Foskor had been prevented from setting the domestic phosphoric acid price at a level higher than the international price by the Competition Tribunal, the phosphates and phosphoric acid producer tells Engineering News Online that it is still in talks to contest... 

Unemployment biggest culprit in South Africa’s inequality

By: Megan van Wyngaardt     14th November 2017 Unemployment, and not low formal sector wages, is the biggest cause of inequality in South Africa, economist Mike Schussler argued at a presentation of trade union Uasa’s sixteenth ‘South African Employment Report’, in Johannesburg, on Tuesday. Noting that no other country among the 100 biggest... 

Solidarity ranks SOEs, lambastes 'cadre merry-go-round'

By: Anine Kilian     14th November 2017 Trade union Solidarity has ranked South African Airways (SAA) as the most poorly managed State-owned enterprise (SOE) in the country. Speaking at the launch of its latest report ‘South African State Institutions and the Value for Tax Money’, on Wednesday, Solidarity CEO Dirk Hermann said SAA... 

Solidarity ranks SOEs, lambastes 'cadre merry-go-round'

Solar to power ahead as it emerges as ‘cheapest’ source of generation

By: Terence Creamer     14th November 2017 The World Energy Outlook 2017, released by the International Energy Agency (IEA) in London on Tuesday, presents a base case scenario that foresees the world’s growing energy needs being met increasingly by renewables and natural gas over the coming 25 years, as “coal strikes out” and nuclear’s... 

Solar to power ahead as it emerges as ‘cheapest’ source of generation

Brown blocked Koko’s suspension, witness tells Eskom probe

By: African News Agency      14th November 2017 Public Enterprises Minister Lynne Brown took instructions from the Gupta brothers and ordered the Eskom board not to suspend Matshela Koko as CEO of the power utility, a witness on Tuesday told the parliamentary inquiry into the company. Khulani Qoma, the now suspended spokesperson for the Eskom... 

Brown blocked Koko’s suspension, witness tells Eskom probe
Photo by Duane Daws
Public Enterprises Minster Lynne Brown

Only half of Cape Town putting 'efforts into saving water' – De Lille

By: News24Wire      14th November 2017 Only half of drought-stricken Cape Town is saving water, the City of Cape Town revealed on Monday as it appealed to residents to get on board and beat the drought. To make matters worse, recent hot and windy weather has led to a 1% decrease in dam levels over the past week alone. 

Environmental activists to appeal enviro authorisation for proposed new nuclear power station

By: Megan van Wyngaardt     14th November 2017 Earthlife Africa Johannesburg, Greenpeace Africa and the Southern African Faith Communities’ Environment Institute (Safcei) have officially filed a notice informing the Department of Environmental Affairs (DEA) that they intend to jointly appeal the environmental authorisation for the... 

Sibanye declares US resource under Proudly South African code

By: Martin Creamer     14th November 2017 Precious-metals mining company Sibanye-Stillwater has completed a Competent Person’s Report on its platinum group metals (PGM) mineral assets, in Montana, in the United States. The report has been compiled under the South African Code for the Reporting of Exploration Results, Mineral Resources... 

Sibanye declares US resource under Proudly South African code
Photo by Duane Daws
Sibanye-Stillwater CEO Neal Froneman

Business expresses concern over Michael Sachs’ resignation

By: Thabi Madiba     14th November 2017 Business Leadership South Africa (BLSA) on Tuesday said it was concerned with the resignation of head of the National Treasury's Budget Office Michael Sachs. Treasury said on Monday that Sachs would not be leaving the department immediately to ensure a proper handover to another senior official... 

Business expresses concern over Michael Sachs’ resignation
Photo by Duane
BLSA CEO Bonang Mohale

Hydrogen could deliver one fifth of world carbon cuts by 2050 – industry group

By: Reuters     14th November 2017 Increasing the use of hydrogen in power, transport, heat and industry could deliver around one fifth of the total carbon emissions cuts needed to limit global warming to safe levels by mid-century, a report by the Hydrogen Council said on Monday. To encourage industries to use hydrogen, Toyota... 

Ghana opens talks with Exxon on deepwater drilling contract

By: Reuters     14th November 2017 Ghana has opened talks with Exxon Mobil Corp to allow the US oil firm to undertake deepwater exploration off its coast, a deputy energy minister said on Monday. "The negotiations are ongoing according to our current laws ... so far so good," Mohamed Amin Adam told Reuters on the sidelines of an... 

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