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Latest News

'We will not allow institutions of our State to be captured' – Ramaphosa 

By: News24Wire      20th April 2017 Do not allow revolutionary sounding slogans to hoodwink the public, Deputy President Cyril Ramaphosa said. Speaking at a Black Business Council event in Sandton, Johannesburg on Wednesday evening, Ramaphosa said some were attempting to appropriate the democratic movement, along with its history,... 

South Africa could suffer further downgrades if political uncertainty stalls growth – S&P's

By: Reuters     20th April 2017 South Africa's credit rating could get downgraded deeper into junk status if political uncertainty triggered by the recent firing of the finance minister stalls reforms needed to grow the economy, an executive from S&P Global Ratings said on Wednesday. "There are risks that potential growth... 

Transformation of SA economy non-negotiable – Ramaphosa

By: News24Wire      20th April 2017 The transformation of South Africa's economy is inevitable, Deputy President Cyril Ramaphosa said on Wednesday evening. He was speaking at the Black Business Council dinner under the theme Economic Recovery. 

Transformation of SA economy non-negotiable – Ramaphosa
Deputy President Cyril Ramaphosa

Recruitment process for new Eskom CEO to be concluded by end-May

By: Megan van Wyngaardt     19th April 2017 Public Enterprises Minister Lynne Brown expects the recruitment process for a new CEO at Eskom to be concluded by the end of May. Matshela Koko has been acting CEO since November 2016, when Brian Molefe resigned as CEO, following the release of a Public Protector report alleging his involvement... 

Recruitment process for new Eskom CEO to be concluded by end-May
Photo by Duane Daws
Minister Lynne Brown and Eskom CEO Matshela Koko

South Africa’s space agency to support key Nepad programmes

By: Keith Campbell     19th April 2017 The South African National Space Agency (Sansa) and Nepad signed a memorandum of understanding (MoU) on Wednesday under which the former will support various programmes of the latter with Earth observation products and services. (Nepad originally stood for New Partnership for Africa’s... 

South Africa’s space agency to support key Nepad programmes
Photo by South African National Space Agency
Nepad Agency CEO Dr Ibrahim Mayaki (left) and Sansa CEO Dr Val Munsami (right) after the signing of the MoU

Application filed for winding-up of Eastern Platinum

By: Martin Creamer     19th April 2017 British Virgin Islands company AlphaGlobal Capital has applied in the Gauteng Division of the High Court in Pretoria for the winding-up of Eastern Platinum (Eastplats), a platinum group metals (PGM) company listed in Toronto and Johannesburg, which is said in filed court papers to be unable to... 

Icasa enters into a technical agreement with Mozambique communications regulator

By: Anine Kilian     19th April 2017 The Independent Communications Authority of South Africa (Icasa) has signed an agreement of cooperation and coordination with communications authority of Mozambique, Autoridade Reguladora Das Communicações, in respect of spectrum management for telecommunications and broadcasting services. The... 

CMH achieves good results, but worries about political turmoil

By: Megan van Wyngaardt     19th April 2017 Despite a difficult year in the motoring industry, JSE-listed Combined Motor Holdings (CMH) on Wednesday said it still achieved “commendable results”, delivering a 17.8% increase in basic earnings a share, a 14.8% increase in headline earnings a share and a 25.6% improvement in dividends a share... 

German logistics company to pilot electric vans in 2018

By: Irma Venter     19th April 2017 German logistics company Hermes and Mercedes-Benz Vans have agreed on a strategic partnership to electrify the courier service’s vehicle fleet. Under this agreement, Hermes will use battery-electric vehicles in its normal operations in a pilot phase in Stuttgart and Hamburg, in Germany, in early... 

German logistics company to pilot electric vans in 2018

Energy Minister reveals extent of executive vacancies at State-owned energy entities 

By: Megan van Wyngaardt     19th April 2017 Several executive positions in the country’s State-owned energy entities have remained vacant for a year or more, a written Parliamentary reply by Energy Minister Mmamoloko Kubayi reveals. The Petroleum Agency of South Africa (PASA) has now been without a CEO for five years. 

Abland starts earthworks at Atlantic Hills business park

By: Megan van Wyngaardt     19th April 2017 Earthworks and services installation have started for the first phase of a new 450 000 m2 industrial precinct in Durbanville, the Atlantic Hills business park, with the first tenant expected to take occupation in January 2018, construction company Abland says. The first phase will involve the... 

Abland starts earthworks at Atlantic Hills business park

Can fake daylight in truck cabs lead to better driver performance?

By: Irma Venter     19th April 2017 A research team from German truck maker Daimler recently explored an interesting question in the darkness of Finland’s polar night: Does the biological effect of light have a positive influence on the wellbeing and performance of truck drivers? Eight Daimler test drivers simulated two typical... 

Can fake daylight in truck cabs lead to better driver performance?

New Treasury DG will be in ‘proud tradition’ of Ramos, Kganyago and Fuzile

By: Terence Creamer     19th April 2017 Finance Minister Malusi Gigaba intends to appoint a new National Treasury director-general by the end of May, following the announcement of Lungisa Fuzile’s imminent departure from a post he has occupied for the past six years. Both ratings agencies and investors have been unsettled by Fuzile’s... 

New Treasury DG will be in ‘proud tradition’ of Ramos, Kganyago and Fuzile
Lungisa Fuzile

Recent political shifts in South Africa could impact on continent’s M&A activity – Baker McKenzie index

By: Megan van Wyngaardt     19th April 2017 Political turbulence and economic uncertainty are becoming the new normal for deal makers; however, the impact on global mergers and acquisitions (M&A) activity has not been as steep as many expected, multinational law firm Baker McKenzie's Cross-Border M&A Index has shown. It noted that while... 

Gigaba dismisses adviser's nationalisation call, seeks to calm investors 

By: Reuters     19th April 2017 South Africa's Finance Minister dismissed calls from one of his own advisers for the nationalisation of banks and mines on Wednesday, and acknowledged that investors had been unsettled by turmoil surrounding his ministry. Malusi Gigaba, appointed in an abrupt reshuffle late last month that shook... 

Gigaba dismisses adviser's nationalisation call, seeks to calm investors
Photo by Bloomberg
Finance Minister Malusi Gigaba

Siemens enters into local manufacturing agreement with black industrialist firm

By: Anine Kilian     19th April 2017 German electronics manufacturer Siemens has entered into a local manufacturing agreement with Cape Town-based black industrialist company Electro Inductive Industries (Eii). Through this partnership, Eii will benefit from internationally recognised skills and knowledge transfer, while Siemens... 

Gigaba slams Eskom’s ‘mistake’ of contradicting government policy on renewables 

By: Terence Creamer     19th April 2017 Finance Minister Malusi Gigaba says Eskom made a “mistake” by raising its corporate difficulties in relation to the signing of power purchase agreements (PPAs) with renewable-energy generators in a way that undermined the policy position of government on both the energy mix and the... 

Gigaba slams Eskom’s ‘mistake’ of contradicting government policy on renewables
Finance Minister Malusi Gigaba

Edenville’s coal wash plant nearly ready for shipment to Tanzania

By: Anine Kilian     19th April 2017 The coal wash plant for use at Edenville Energy’s Rukwa coal mine has been delivered to port in the UK and inspected and cleared by the appropriate authorities, ready for shipment to Tanzania. The first of the shipments is expected to leave the UK this month and will take six weeks to arrive in... 

Trump 'Buy American' edict may have little impact on US steel

By: Reuters     19th April 2017 US President Donald Trump's "Buy American, Hire American" executive order on Tuesday left questions about how the government would enforce the order and whether it would make a real difference in output and employment, according to steel executives and analysts. "Buy American" provisions already... 

US announces probe into imports of steel wire rod

By: Reuters     19th April 2017 The US Department of Commerce said on Tuesday it was launching investigations into whether imports of carbon and alloy steel wire rod from certain countries are being dumped and/or subsidised. The dumping probe affects imports from Belarus, Italy, South Korea, Russia, South Africa, Spain, Turkey,... 

IMF raises global growth forecast, warns against protectionism

By: Reuters     19th April 2017 The International Monetary Fund raised its 2017 global growth forecast on Tuesday due to manufacturing and trade gains in Europe, Japan and China, but warned that protectionist policies threaten to choke a broad-based recovery. The IMF, whose spring meetings with the World Bank get underway in... 

Governments worldwide could save $1tr by adopting procurement best practices – McKinsey 

By: Terence Creamer     19th April 2017 Governments worldwide could reduce their current purchasing bill by 15%, or a combined $1-trillion, if they were to adopt best-practice procurement disciplines, a new study by the McKinsey Center for Government (MCG) claims. The study, titled ‘Government Productivity: Unlocking the $3.5-trillion... 

Governments worldwide could save $1tr by adopting procurement best practices – McKinsey

Electricity supply programme of R2.4bn for Ekurhuleni informal settlements

By: African News Agency      19th April 2017 A R2.4-billion programme for electricity in informal settlements across Ekurhuleni will be completed by the end of this financial year covering 16 000 households, Ekurhuleni executive mayor Mzwandile Masina announced. The legalities on the roll-out of the programme in privately owned informal... 

Public Protector assessing Molefe 'golden handshake' complaint

By: News24Wire      19th April 2017 The Office of the Public Protector is assessing a complaint from the South African National Civic Organisation (Sanco) asking it to probe former Eskom CEO Brian Molefe's reported R30-million "golden handshake". Last week, Sanco requested that Public Protector Busisiwe Mkhwebane probe whether or... 

Cape Town finally hits water use target

By: News24Wire      19th April 2017 Water consumption in Cape Town has dropped below the city’s 700-million litre per day target for the first time. The city’s inhabitants used 685-million litres per day in the past week, the city said in a statement on Tuesday. 

De Lille vows to take minister to court over energy management

By: News24Wire      19th April 2017 The City of Cape Town is preparing to take legal action against the energy minister over where it receives its electricity supply from, mayor Patricia de Lille said on Tuesday. The city would fight for its right to purchase renewable energy directly from independent power producers (IPP), she... 

Dawn appoints new CFO

By: Megan van Wyngaardt     18th April 2017 JSE-listed Distribution and Warehousing Network, or Dawn, has appointed Chris Booyens as its CFO and FD, effective May 1. A qualified chartered accountant, Booyens has several years’ experience in the building industry as Iliad Africa group FD. He also previously served as financial executive and... 

Estonia, South Africa to develop new partnerships

By: Anine Kilian     18th April 2017 Skills development, job creation and the promotion of small, medium-sized and microenterprises (SMMEs) is imperative to South Africa’s economy and should complement investment flows, Small Business Development Minister Lindiwe Zulu said on Tuesday. Addressing delegates from Estonia at the Estonia... 

Competition commission says not pursuing pricing complaint against MTN, Vodacom 

By: Reuters     18th April 2017 South Africa's competition regulator has decided against pursuing a complaint of unfair pricing lodged against mobile phone giants MTN Group and Vodacom by smaller unlisted rival Cell C. Cell C made the complaint with the Competition Commission in 2013, accusing MTN and Vodacom of discriminatory... 

Koeberg Unit 2 shut down for planned maintenance

By: Megan van Wyngaardt     18th April 2017 Unit 2 of Eskom’s Koeberg nuclear power station was shut down on Monday for a scheduled refuelling outage, after a record 492 days of uninterrupted run. The refuelling outage will take about two months to complete, with Unit 2 expected back on line by May. Unit 1 is currently operating optimally... 

Johannesburg residents face rates, tariff increases 

By: Megan van Wyngaardt     18th April 2017 The City of Johannesburg will increase its rates and tariffs for 2017/18 by an average of 12.2% for water and sanitation, 2.8% for electricity, 6.1% for refuse removal and 6.2% for property. In a presentation on the city’s Integrated Development Plan for the next five years, Mayor Herman Mashaba... 

Johannesburg residents face rates, tariff increases

Gigaba to attend IMF, World Bank meetings  

By: Sane Dhlamini     18th April 2017 Finance Minister Malusi Gigaba’s upcoming trip to the US for the International Monetary Fund (IMF) and World Bank Spring Meetings and further interactions with rating agencies received a thumbs up from Deputy President Cyril Ramaphosa today.  “Well, the Minister is going to the Spring IMF... 

Gigaba to attend IMF, World Bank meetings
Photo by Bloomberg
Finance Minister Malusi Gigaba

Govt not delaying Vredefort Dome’s heritage proclamation – Molewa

By: Megan van Wyngaardt     18th April 2017 Concerns of landowners within the Vredefort Dome, in the Free State, are preventing government from proclaiming the area as a world heritage site, says Environmental Affairs Minister Edna Molewa. In a written reply to a Parliamentary question, published on Tuesday, she said the area, which was... 

Local macadamia association spreads footprint through Chinese MoU

By: Megan van Wyngaardt     18th April 2017 The South African Macadamia Grower’s Association (Samac) has signed a memorandum of understanding (MoU) with the China National Industry Association’s (CSNC’s) specialised committee for nuts and roasted seeds to enhance cooperation in the nuts and roaster industries of the two countries. Signed... 

Numsa accepts new terms in bus strike negotiations

By: News24Wire      18th April 2017 The National Union of Metalworkers of South Africa (Numsa) says it has ended its consultations with workers in the passenger bus sector, following a week of striking, after its members accepted new terms. Numsa was the only major union not to accept the new agreement which Labour Minister Mildred... 

VW plans to launch electric car in China next year

By: Reuters     18th April 2017 Volkswagen's China chief Jochem Heizmann said the carmaker plans to launch a pure battery electric vehicle in China this year amid continued uncertainty over how China's electric car quotas will be applied. VW's Heizmann said a lack of clarity about whether electric car quotas would be softened,... 

BMW Group SA to start X3 production in the first half of 2018

By: Irma Venter     18th April 2017 Production of the new X3 at the BMW plant in Rosslyn, outside Pretoria, for the local and export markets will start in the first half of 2018, says BMW Group South Africa (SA) and sub-Saharan Africa CEO Tim Abbott. The plant currently produces the 3 Series sedan, also for the local and export... 

BMW Group SA to start X3 production in the first half of 2018

Nationalisation of banks is not government policy – Treasury 

By: African News Agency      18th April 2017 National Treasury on Tuesday distanced itself from an opinion piece written by Professor Chris Malikane, an economic adviser to the Minister of Finance Malusi Gigaba, saying that the nationalisation of banks is not government policy. This comes after Malikane, an economics professor at the... 

Nationalisation of banks is not government policy – Treasury

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