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Latest News

Manufacturers continue to invest, despite tough market conditions

By: Simone Liedtke     28th August 2018 With tough economic conditions continuing to impact on manufacturers, the Manufacturing Circle Investment Tracker (MCIT) index for the second quarter of 2018 saw a marginal decrease from 59 index points to 58. Despite this marginal decrease, Manufacturing Circle (MC) executive Philippa Rodseth... 

Coal suppliers urged to put South Africa first 

By: Kim Cloete     28th August 2018 Public Enterprises Minister Pravin Gordhan has suggested that Parliament call in some of the big and small coal suppliers to account for their export of coal, amid increasing concerns about the shortage of coal in the country. Gordhan was speaking after several Members of Parliament suggested... 

Coal suppliers urged to put South Africa first

Untu warns against PRASA’s continued safety noncompliance

By: Marleny Arnoldi     28th August 2018 The United National Transport Union (Untu) believes government and Transport Minister Blade Nzimande can be held accountable for any injuries incurred by employees or commuters of the Passenger Rail Agency of South Africa (PRASA), owing to “blatant disregard” for basic safety procedures set down... 

Global mining showing interest in Master Drilling’s new technology  

By: Martin Creamer     28th August 2018 The mining industry is showing strong interest in the new blast-free mobile tunnel boring machine that South African company Master Drilling will launch in Italy next month. This interest is exemplified by 32 mining executives from mining jurisdictions across the world making themselves available... 

Global mining showing interest in Master Drilling’s new technology
Master Drilling CEO Danie Pretorius interviewed by Mining Weekly Online’s Martin Creamer. Video and Video Editing: Darlene Creamer. Photographs: Dylan Slater

Insimbi acquires Group Wreck for R120m

By: Marleny Arnoldi     28th August 2018 JSE-listed Insimbi Industrial Holdings is acquiring scrap metal recycler Group Wreck International for R120-million. “Insimbi needs to grow by acquiring businesses that complement the existing Insimbi businesses and are accretive to earnings,” said Insimbi CEO Fred Botha.  

Eskom gives up debt to equity conversion plan – Mabuza

By: African News Agency      28th August 2018 Eskom has shelved plans to ask the Public Investment Corporation (PIC) to convert some of its debt to equity, Eskom chairperson Jabu Mabuza told MPs on Tuesday. "We are not asking anybody to convert debt," he told a joint meeting of the portfolio committees on energy and public enterprises 

 Eskom gives up debt to equity conversion plan – Mabuza
Photo by Dylan Slater
Eskom chairperson Jabu Mabuza

US Trade and Development Agency grants $1.2m funding for Mozambique solar project

By: Marleny Arnoldi     28th August 2018 Investment bank Fieldstone has assisted WHN Solar to raise grant funding of almost $1.2-million for a solar energy project in Mozambique. The funding was conferred by the US Trade and Development Agency for a feasibility study to assess the viability of a photovoltaic plant of up to 100 MW to... 

Sea Harvest acquires Ladismith Cheese for R527m

By: Marleny Arnoldi     28th August 2018 JSE-listed fishing and food business Sea Harvest’s Cape Harvest Food Group subsidiary has concluded a share purchase agreement to acquire dairy processing company Ladismith Cheese for R527-million. The transaction represents the acquisition of a profitable branded fast-moving consumer goods... 

Eskom to sue Trillian to recover R600-million

By: African News Agency      28th August 2018 Eskom will sue Trillian later this year to recover R600-million from the firm linked to the infamous Gupta family, the utility's CEO Phakamani Radebe told MPs on Tuesday. "In December we will be going to court to face up to Trillion to demand our R600-million," Radebe told a joint sitting of... 

 Eskom to sue Trillian to recover R600-million

De Beers, UN Women to support women micro-entrepreneurs in South Africa

By: Simone Liedtke     28th August 2018 Diamond miner De Beers and the United Nations Entity for Gender Equality and the Empowerment of Women (UN Women) in South Africa have launched a capacity-building programme, which aims to support 500 women micro-entrepreneurs in the Blouberg and Musina communities, near De Beers’ Venetia diamond... 

Cashbuild expansion strategy places retailer in good position to reap rewards

By: Simone Liedtke     28th August 2018 Despite demanding trading conditions, South African retailer Cashbuild on Tuesday announced that it has, for the first time, exceeded the R10-billion group revenue mark. Cashbuild CE Werner de Jager attributed the 5% year-on-year growth in group revenue largely to the 42 new stores that were... 

Gupta revealed 'top secret' Denel matter – Mentor

By: African News Agency      28th August 2018 Ajay Gupta revealed top secret information regarding state-owned arms manufacturer Denel during a meeting at the family's Saxonwold compound, former African National Congress (ANC) parliamentarian Vytjie Mentor testified at the state capture commission of inquiry on Tuesday. This was a meeting... 

MSQ, Coega SEZ to build R100m medical device factory

By: Shirley le Guern     28th August 2018 South African healthcare company MSQ is positioning itself to become South Africa’s third active pharmaceutical ingredient (API) manufacturer. The company, which has set its sights on becoming a market leader in a sector dominated by imports, has teamed up with the Coega Special Economic Zone... 

MSQ, Coega SEZ to build R100m medical device factory
Coega SEZ portfolio developer Asanda Vos, MSQ director Themba Nyembezi, MSQ CEO Dr Nhlanhla Msomi, Coega SEZ business development executive director Christopher Mashigo, MSQ COO Dr Carl Montague, MSQ manufacturing operations manager Mzingisi Tshicila and MSQ Pharma MD Glen Sullivan.

Johannesburg Water races to deliver emergency measures after fire at Eikenhoff pump station

By: News24Wire      28th August 2018 Johannesburg Water has placed water tankers at strategic locations across the city to assist residents after a power outage caused by a fire at the Eikenhoff pump station resulted in large parts of Johannesburg being without water. The fire, which happened on Monday night, affected the pump... 

Solidarity to strike at Sasol over black staff scheme

By: Reuters     28th August 2018 South Africa's mainly white Solidarity union has given Sasol a 48-hour notice to strike over the energy giant's plan to launch a share ownership scheme exclusively for black staff, the union said on Tuesday. "This type of crude racial exclusion cannot be tolerated any longer. These white workers... 

China says projects not to blame for majority of Africa debt

By: Reuters     28th August 2018 Chinese development projects do not account for a majority of the debt on African countries, a senior Chinese official said on Tuesday ahead of a summit with African leaders in Beijing next week. China's "Belt and Road" initiative has been praised by supporters for providing vital financing to... 

Britain supports South African land reform – PM May 

By: Reuters     28th August 2018 Britain supports South Africa's land reform programme provided it is carried out legally, Prime Minister Theresa May said in Cape Town on Tuesday, adding that she would discuss the issue with President Cyril Ramaphosa. "The UK has for some time now supported land reform. Land reform that is... 

Britain supports South African land reform – PM May
Photo by Reuters
British Prime Minister Theresa May

AfDB, FAO to collaborate again on boosting agriculture investments in Africa

By: Marleny Arnoldi     28th August 2018 The African Development Bank (AfDB) and the United Nations’ Food and Agriculture Organisation (FAO) have agreed to strengthen joint efforts aimed at growing agriculture sector investments in Africa. The organisations will raise up to $100-million over five years to support these activities,... 

Solar body raises concern over procurement gap, as lobby group slams inclusion of IPP coal

By: Terence Creamer     28th August 2018 The South Africa Photovoltaic Industry Association (SAPVIA) has added its voice to concerns being expressed over the three-year gap outlined in the draft Integrated Resource Plan (IRP 2018) during which no allocations have been made for new renewable-energy capacity additions. In a statement,... 

Solar body raises concern over procurement gap, as lobby group slams inclusion of IPP coal

Master Drilling mulling year-end dividend, launching blast-free borer

By: Martin Creamer     28th August 2018 Innovative drilling technologies company Master Drilling, which will next month launch a new blast-free mobile tunnel boring machine that is expected to have a far-reaching beneficial impact on mining, on Tuesday reported satisfactory results for the six months ended June 30. The Johannesburg... 

Master Drilling mulling year-end dividend, launching blast-free borer
Photo by Creamer Media
Master Drilling CEO Danie Pretorius

The 5%, 50% and 360 km/h of Gauteng’s e-toll network 

By: Irma Venter     28th August 2018 Little is known about the numbers of the Gauteng open-road toll network (GORT), beyond the well publicised 70% of users who don’t pay their toll bills. However, South Africa’s first electronic toll collection system has laid bare an interesting array of data since its 2010 inception. For example,... 

The 5%, 50% and 360 km/h of Gauteng’s e-toll network

Agricultural organisations commit to developing national strategy

By: Simone Liedtke     27th August 2018 The presidents of the African Farmers Association of South Africa (Afasa), the National African Farmers Union of South Africa (Nafu SA), Agri SA and the Transvaal Agricultural Union of South Africa (Tau-SA), as members of the Agri Sector Unity Forum (Asuf), on Monday declared their intent to work... 

Agricultural organisations commit to developing national strategy

Gemgrow expands its retail property portfolio through R728m investment

By: Marleny Arnoldi     27th August 2018 Real estate investment trust Gemgrow has acquired an effective economic interest of 95% in Moolgem, for about R628-million, yielding 11.48%. The Moolgem portfolio comprises 85% retail, and has 26 properties in the Limpopo region, including retail centres Jane Furse Crossing and Game Centre.  

Crude steel production, capacity utilisation ratio increase y/y in July

By: Marleny Arnoldi     27th August 2018 Global crude steel production for the 64 countries reporting to the World Steel Association was 154.6-million tonnes in July – a 5.8% year-on-year increase. China contributed 81.2-million tonnes of crude steel in July, a 7.2% year-on-year increase. Japan produced 8.4-million tonnes, which is... 

Majority of Solidarity members at Sasol Secunda in favour of proposed strike

By: Marleny Arnoldi     27th August 2018 Eighty-three per cent of trade union Solidarity’s members at petrochemicals giant Sasol’s Secunda operations have voted in favour of strike action regarding Sasol’s exclusion of white employees from an employee share ownership plan. Solidarity is also planning a national protest in which... 

Pikitup suspends waste collection in areas around Soweto amid protests 

By: Marleny Arnoldi     27th August 2018 Waste manager Pikitup has suspended services in certain areas following the burning and stoning of its trucks in Soweto, on Friday, and continued threats of violence towards staff members this week. The affected depots include Central Camp and Zondi, where protestors are currently most active,... 

Transformer explosion to affect water supply in parts of Johannesburg, Rustenburg

By: Simone Liedtke     27th August 2018 The explosion of an electrical transformer at Rand Water’s Eikenhof pumping station, in Johannesburg South, will affect water supply to consumers in parts of the West Rand, as well as Rustenburg in the North West province. The transformer, which is part of the electricity facility supplying power... 

Super Group buoyed by commodities, new acquisitions

By: Irma Venter     27th August 2018 An excellent performance from the commodities businesses within Supply Chain Africa, good contributions from a number of acquired businesses and solid results from the SG Fleet have seen Super Group post a 15% jump in operating profit, to R2.4-billion, for the financial year ended June 30.... 

Super Group buoyed by commodities, new acquisitions
Peter Mountford

Mazars appoints joint-CEOs

By: Marleny Arnoldi     27th August 2018 Financial services firm Mazars South Africa has appointed joint-CEOs Michelle Olckers and Anoop Ninan, effective September 1. The joint-CEOs were elected by Mazars South Africa’s partners in an independent process, based on manifestos indicating their strategic vision for the company.  

Wind body praises IRP, but wants clarity on three-year gap in new additions

By: Terence Creamer     27th August 2018 The South African Wind Energy Association (SAWEA) has praised the emphasis placed in the draft Integrated Resource Plan (IRP 2018) on integrating the least-cost generation solutions of wind, solar photovoltaic (PV) and gas into the South African electricity mix between 2018 and 2030. However, the... 

Wind body praises IRP, but wants clarity on three-year gap in new additions

New call termination rate proposal will entrench duopoly – Telkom

By: Natasha Odendaal     27th August 2018 The new draft Call Termination Rates need to take into account South Africa’s telecommunications market “reality” and not ignore the global convergence where fixed and mobile are no longer distinguished, information and communications technology group Telkom CEO Sipho Maseko said on Monday. The... 

Treasury has hard choices to make, says VAT panel chair

By: News24Wire      27th August 2018 The value added tax (VAT) panel made an input to the process to decide on zero-rated items and it will be up to National Treasury to make the hard choices, according to chair of the VAT panel Professor Ingrid Woolard. The VAT panel will present its report to the Standing Committee on Finance on... 

 Treasury has hard choices to make, says VAT panel chair

Sars to re-establish Large Business Unit, Illicit Economy Team

By: Simone Liedtke     27th August 2018 The South African Revenue Service (Sars) will be re-establishing the Large Business Unit and the Illicit Economy Team. The decision, which was made by Sars acting commissioner Mark Kingon and the Sars executive committee, was based on the “pivotal role that these units play in enabling Sars to... 

Vodacom launches 5G internet service in Lesotho

By: Reuters     27th August 2018 South Africa's Vodacom launched what it said was Africa’s first commercial 5G internet service in Lesotho on Saturday, but said it would only be able to provide a similar service in its home market once spectrum was made available. Vodacom, South Africa's biggest mobile operator by market value,... 

Nigerian economy loses momentum in Q2 as oil sector contracts

By: Reuters     27th August 2018 Nigeria's economic growth dipped to 1.50% year on year between April and June, the statistics office said on Monday, extending a slowdown into a second quarter as the oil sector contracted. Largely dependent on its rich crude reserves, Nigeria's economy began climbing out of its first recession... 

Ethiopia ousts State firm from Nile dam project after construction delays

By: Reuters     27th August 2018 Ethiopia has ousted State-run Metals and Engineering Corporation (METEC) from a $4-billion dam project on the River Nile due to numerous delays in completing the project. The Grand Renaissance Dam is the centrepiece of Ethiopia's bid to become Africa's biggest power exporter. 

Sibanye expects Lonmin competition finality October 

By: Martin Creamer     27th August 2018 Precious metals mining company Sibanye-Stillwater expects Competition Commission finality on its proposed acquisition of platinum company Lonmin in October, following the closure of its transaction with surface gold mining company DRDGold, which is expected to make a positive contribution to... 

Sibanye expects Lonmin competition finality October
Sibanye-Stillwater CEO Neal Froneman’s update on Lonmin covered by Mining Weekly Online’s Martin Creamer. Video and Video Editing. Nicholas Boyd.

Denel says AAD attendance important to turning the business around

By: Marleny Arnoldi     27th August 2018 State-owned Denel expects its participation in the upcoming Africa Aerospace and Defence (AAD) exhibition to be a “confident” step towards turning the business around and rebuilding Denel, says acting CEO Michael Kgobe. He adds that the group’s participation should also be seen as a step in... 

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