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Latest News

Vinci lays first kilometre of fully-recycled motorway

By: Reuters     10th October 2018 Road building company Eurovia and its parent Vinci have laid a kilometre of motorway using only recycled asphalt from a mobile plant, a world first that they said could help reduce the cost of motorway maintenance and cut pollution. The mobile recycling plant can be disassembled and moved along... 

Trade rules need to address Chinese excess capacity – EU's Moscovici

By: Reuters     10th October 2018 Any rewrite of global trading rules must deal with the issue of excess industrial capacity in China, European Commission Economic Commissioner Pierre Moscovici said on Wednesday. "We absolutely need to address the issue of overcapacities in China. Nobody can say that this is not a problem. This... 

Sacci BCI marks slight improvement in September

By: Marleny Arnoldi     10th October 2018 The South African Chamber of Commerce and Industry’s (Sacci’s) Business Confidence Index (BCI) improved by 2.8 index points to 93.3 points in September, from 90.5 points in August. The BCI was in line with the 93 points measured in September 2017.  

New equipment to boost PE port’s manganese export capacity by 1.8 Mt/y

By: Marleny Arnoldi     10th October 2018 Transnet Port Terminals (TPT) has taken delivery of the first two of four RAM rotating spreaders that are set to create an additional 1.8-million tons a year of capacity for manganese exports at its Port Elizabeth (PE) terminal. A further two spreaders will arrive from China at the end of... 

New equipment to boost PE port’s manganese export capacity by 1.8 Mt/y
Port Elizabeth Port

Policy certainty key to business confidence – Sacci  

By: African News Agency      10th October 2018 Market and economic developments continue to have adverse effects on the activities of companies in South Africa, despite an uptick in a key business confidence index (BCI) in September, a survey showed on Wednesday. The South African Chamber of Commerce and Industry's (Sacci) BCI, comprising of... 

Policy certainty key to business confidence – Sacci

Mercedes-Benz rolls out fuel-cell SUV to tackle tech hurdles

By: Bloomberg     10th October 2018 Mercedes-Benz will soon start handing over its latest fuel-cell electric car to fleet customers to keep a toe-hold in a promising technology that’s been hampered by the difficulties of storing and refueling hydrogen. The Mercedes-Benz GLC F-Cell model combines a fuel cell with a battery that can... 

Mercedes-Benz rolls out fuel-cell SUV to tackle tech hurdles

Ford produces first trial Ranger Raptors in SA, invests another R160m

By: Irma Venter     10th October 2018 The Ford Motor Company of Southern Africa has produced its first batch of trial Ranger Raptor bakkies at its Silverton assembly plant, in Pretoria. In preparation for full-scale production of the new model, the plant assembled its first ten official Ranger Raptor units as part of the tooling... 

Ford produces first trial Ranger Raptors in SA, invests another R160m

Govt urged to include IRP adjustment that steers renewables jobs the way of coal regions 

By: Creamer Media Reporter      10th October 2018 South Africa should consider including a policy adjustment in its upcoming Integrated Resource Plan (IRP) directing developers of new renewable-energy infrastructure to build projects in regions currently geared towards coal mining and coal-fired electricity production. University of Johannesburg... 

Govt urged to include IRP adjustment that steers renewables jobs the way of coal regions
Photo by Creamer Media
Dr Tobias Bischof-Niemz

Parly's transport committee grills Prasa on lack of progress

By: News24Wire      10th October 2018 Parliament's Portfolio Committee on Transport grilled the Passenger Rail Agency of South Africa's (Prasa) presentation at a meeting in Cape Town on Tuesday, for lacking urgency and progress. The meeting comes after the Rail Safety Regulator (RSR) communicated its intention to suspend Prasa's... 

Parly's transport committee grills Prasa on lack of progress

ANC, opposition parties welcome Mboweni, praise Nene

By: News24Wire      9th October 2018 Former South African Reserve Bank governor and newly appointed Finance Minister Tito Mboweni is highly accomplished and should be able to hit the ground running. This was the sentiment from the ANC and opposition parties after the news broke that Mboweni would replace former minister, Nhlanhla... 

ANC, opposition parties welcome Mboweni, praise Nene
Photo by Creamer Media
Finance Minister Tito Mboweni

Mboweni sworn in as Finance Minister, after Ramaphosa accepts Nene’s resignation  

By: Sashnee Moodley     9th October 2018 President Cyril Ramaphosa announced on Tuesday afternoon that he had accepted Finance Minister Nhlanhla Nene’s resignation and that former Reserve Bank governor Tito Mboweni would be sworn in as the new Minister with immediate effect. Ramaphosa revealed that, as a consequence of State capture... 

Mboweni sworn in as Finance Minister, after Ramaphosa accepts Nene’s resignation
Photo by Creamer Media
Finance Minister Tito Mboweni

Medupi’s fifth unit synchronised to the national grid – Eskom

By: Simone Liedtke     9th October 2018 Unit 2 at Eskom-owned Medupi power station, in Limpopo, was loaded to 400 MW on Sunday afternoon, making it the fifth of the six Medupi units to be synchronised to the national grid. The unit produced first power on Sunday morning, at around 11:53. 

Emira concludes portfolio rebalancing with BEE deal, acquisition of Transcend stake

By: Tasneem Bulbulia     9th October 2018 Emira Property Fund is selling a sizeable R1.8-billion portfolio of 25 office assets to a new majority black-owned entity, Shankly Property Investments, which was specifically set up for this purpose. This concludes the diversified real estate investment trust’s (Reit’s) programme of rebalancing... 

Tax Ombud secures nearly R450m in refunds in biggest tax disputes for 2017/18

By: Simone Liedtke     9th October 2018 Nearly R450-million in tax refunds has been paid out to the ten taxpayers with the largest disputes with revenue authorities in the 2017/18 financial year, as a result of the intervention of the Office of the Tax Ombud (OTO). The OTO reported these figures during the launch, on Tuesday, of its... 

Africa needs to invest more in infrastructure to meet Agenda 2063 goals

By: Marleny Arnoldi     9th October 2018 For Africa to reach its Agenda 2063 goals, the necessary infrastructure needs to be in place, especially to support Africa’s accelerated integration and growth, technological transformation, trade and development. This will include high-speed railway networks, roads, shipping lines, sea and air... 

Construction on Phase A of R1.4bn Umgeni commercial development nearing completion

By: Tasneem Bulbulia     9th October 2018 Construction on the R1.4-billion Umgeni Lifestyle and Deco Park is under way, with completion of Phase A expected this month and the grand opening set for November 1. This commercial concept is a first-of-its-kind for this region, presenting a safe landscaped zone with green spaces and walkways... 

Construction on Phase A of R1.4bn Umgeni commercial development nearing completion
Umgeni Lifestyle and Deco Park commercial development

Ramaphosa to make statement on Nene

By: Reuters     9th October 2018 President Cyril Ramaphosa will make a statement on the fate of Finance Minister Nhlanhla Nene on Tuesday at 16:30, his office said, sending the rand firmer. Nene is facing calls to resign after he admitted to visiting the Gupta brothers, friends of scandal-plagued former leader Jacob Zuma who... 

Ramaphosa to make statement on Nene
President Cyril Ramaphosa

Helios to enter South Africa within the next year, says CEO

By: Bloomberg     9th October 2018 Helios Towers wants to enter South Africa within the next year, helping the mobile phone tower operator build scale as it prepares for a stock market listing as early as 2019. Helios is in talks with potential partners to comply with South Africa’s black economic empowerment requirements and... 

IMF lowers South Africa's economic growth forecasts, urges reforms

By: Reuters     9th October 2018 The International Monetary Fund on Tuesday cut South Africa's economic growth forecasts for this year and next, as it urged implementation of reforms to improve policy certainty and the efficiency of State-owned companies. Having stagnated for a decade, Africa's most industrialised economy... 

IMF lowers South Africa's economic growth forecasts, urges reforms

Emira concludes major portfolio rebalancing with landmark R1.8bn BEE deal

By: Tasneem Bulbulia     9th October 2018 Emira Property Fund is selling a sizeable R1.8-billion portfolio of 25 office assets to a new majority black-owned entity, Shankly Property Investments, which was specifically set up for this purpose. This concludes the diversified real estate investment trust’s (Reit’s) programme of rebalancing... 

Telkom Kenya holds talks over two submarine cable landing deals

By: Reuters     9th October 2018 Telkom Kenya is in talks with two unnamed parties over partnerships to allow it to sell high speed internet capacity from two undersea data cables that are about to land in the East African nation, its CEO said on Tuesday. The operator, which is the smallest in Kenya behind Safaricom and Bharti... 

Jonas is said to decline South African Finance Minister post

By: Bloomberg     9th October 2018 Mcebisi Jonas declined an offer to replace Nhlanhla Nene as South Africa’s finance minister, spurring President Cyril Ramaphosa to consider central bank Governor Lesetja Kganyago and one of his predecessors, Tito Mboweni, for the job, according to three people familiar with the matter. Jonas, a... 

Jonas is said to decline South African Finance Minister post
Photo by Reuters
Mcebisi Jonas

Denel proposes severance packages, salary cuts – union

By: Reuters     9th October 2018 South African State arms firm Denel is holding talks with unions over voluntary severance packages, reduced working hours and salary cuts for some staff as it struggles to emerge from a financial crisis, a union official said. The discussions underscore the extent of the financial difficulties... 

Was the Job Summit just a talk shop? 

9th October 2018 Creamer Media's Chanel de Bruyn speaks to Engineering News Editor Terence Creamer about the outcomes of the Presidential Job Summit and how it fits into government’s bigger plan to get the economy on the right track again. 

Was the Job Summit just a talk shop?
Was the Job Summit just a talk shop?

Ramaphosa to make an announcement on Nene's fate 'soon' – Presidency

By: News24Wire      9th October 2018 President Cyril Ramaphosa is concerned about the uncertainty being created in the financial markets around the fate of Finance Minister Nhlanhla Nene, his spokesperson Khusela Diko said on Tuesday. Speaking to News24, she said Ramaphosa would make an announcement on Nene's fate "soon". She did... 

Ramaphosa to make an announcement on Nene's fate 'soon' – Presidency
President Cyril Ramaphosa

Astron Energy appoints chair, CEO

By: Tasneem Bulbulia     9th October 2018 Astron Energy, previously Chevron South Africa (CSA), has appointed Mashudu Ramano chairperson and Jonathan Molapo CEO, with immediate effect. CSA was, last month, acquired by black economic empowerment consortium Off The Shelf Investments, which is chaired by Ramano, for $1-billion. 

UK expresses faith in South Africa's economy, backs Ramaphosa's stimulus package

By: African News Agency      9th October 2018 The United Kingdom's trade commissioner for Africa, Emma Wade-Smith, said on Tuesday that the UK had full confidence in South Africa's "stimulus package" and was more likely to continue to invest in South Africa despite the country's troubled economy going through a technical recession. President... 

Airline SA Express continues to re-establish its route network

By: Rebecca Campbell     9th October 2018 State-owned domestic and regional airline SA Express announced on Tuesday that it had relaunched two more of its services, as part of its plan to, as soon as possible, re-establish its best-performing routes. The two routes concerned are the domestic Johannesburg-Hoedspruit (Mpumalanga province)... 

Airline SA Express continues to re-establish its route network
Photo by SA Express
A Bombardier CRJ700 regional airliner in the colours of SA Express

IEA urges Opec to open the taps as oil market enters 'red zone'

By: Bloomberg     9th October 2018 The International Energy Agency made a direct appeal to Opec and other major oil producers to boost output, warning that prices are inflicting damage on the global economy. “We should all see the risky situation, the oil markets are entering the red zone,” IEA executive director Fatih Birol said... 

Losses due to arson attacks on Metrorail trains closing in on R700m 

By: African News Agency      9th October 2018 The Passenger Rail Agency of South Africa (PRASA) on Tuesday put its losses due to arson attacks on its Metrorail trains at R636-million over the past three years. Briefing Parliament's portfolio committee on transport, PRASA chief executive Sibusiso Sithole said 71% of the arson attacks had... 

Volkswagen is near hiring top banks for truck unit IPO

By: Bloomberg     9th October 2018 Volkswagen is close to hiring banks and advisers to work on an initial public offering (IPO) for its heavy-truck division, according to people with knowledge of the matter. Citigroup, Deutsche Bank, Goldman Sachs Group and JPMorgan Chase & Co are likely to win mandates as global coordinators for... 

Long4Life CFO to retire

By: Creamer Media Reporter      9th October 2018 Peter Riskowitz will retire as executive director and CFO of JSE-liisted Long4Life, effective October 31. "The board of directors would like to thank Peter for his dedication, diligence and commitment and wish him well in the future," the company said on Tuesday. 

Kibo completes acquisition of 60% interest in MED

By: Tasneem Bulbulia     9th October 2018 Africa-focused energy company Kibo Energy has completed the acquisition of a 60% equity interest in Mast Energy Developments (MED), a private UK registered company targeting the development and operation of flexible power plants to service the reserve power generation market. MED’s business... 

Woolworths to trial plastic bag free store

By: Reuters     9th October 2018 South African department store chain Woolworths Holdings will remove single-use plastic bags from one of its stores during a six-month trial period in a bid to end plastic pollution, it said on Monday. From November, Woolworths, which also has operations in Australia and New Zealand, will not... 

Mozambique signs oil exploration agreements with Exxon, Rosneft

By: Reuters     9th October 2018 The Mozambican government said on Monday it had signed oil exploration agreements with US energy firm Exxon Mobil and Russia's Rosneft. Mozambique's National Petroleum Institute, an energy regulator in the southern African country, said the government was preparing to sign similar agreements with... 

Nene's IMF trip eases fears over his future

By: Reuters     9th October 2018 Finance minister Nhlanhla Nene is traveling to Indonesia for an International Monetary Fund (IMF) meeting, the Treasury said on Tuesday, a statement that may soothe markets a day after a media report that he had asked the president to sack him. The rand fell more than one percent on Monday when... 

Nene's IMF trip eases fears over his future
Photo by Reuters
Finance Minister Nhlanhla Nene

Aerospace group Airbus reveals its next CEO

By: Rebecca Campbell     9th October 2018 The board of directors of Europe-based major global aerospace manufacturing group Airbus announced on Monday that it had chosen Guillaume Faury as its next CEO. Faury is currently President of Airbus Commercial Aircraft. He will replace incumbent group CEO Tom Enders in April next year. Faury was... 

Aerospace group Airbus reveals its next CEO
Photo by Airbus
Guillaume Ferry

Technology cost assumptions used to produce IRP explained 

By: Terence Creamer     9th October 2018 An experienced electricity system modeller has corrected a suggestion that the draft 2018 Integrated Resource Plan (IRP 2018) uses levelised cost assumptions for the various generation technologies tested, explaining that overnight capital cost assumptions for each technology are key inputs. The... 

Technology cost assumptions used to produce IRP explained

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