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Latest News

Tanzania Q1 growth slows to 5.7%

By: Reuters     10th August 2017 Tanzanian growth slowed to 5.7% in the first quarter of this year, hurt by slower-than-expected performance of construction, transport, agriculture and the financial services sectors, the statistics office said on Thursday. Growth in the same period of 2016 was 6.8%. 

Labour department examining 72 firms over equity law compliance 

By: Reuters     10th August 2017 South Africa has started a review to inspect 72 JSE-listed firms to ensure compliance with employment equity laws, the Department of Labour said on Thursday. South Africa's employment equity legislation aims to remove unfair discrimination and accelerate diversity in workplaces as the government... 

M&R says Australia maintenance contract a signal of future strategic intent

By: Terence Creamer     10th August 2017 The oil and gas unit of Murray & Roberts (M&R) has been awarded a five-year contract to perform maintenance services at a liquid ammonia plant and a technical ammonium nitrate (TAN) plant on the Burrup Peninsula, in Western Australia. Norway’s Yara International, which owns the facilities,... 

M&R says Australia maintenance contract a signal of future strategic intent
Photo by Duane Daws
M&R CEO Henry Laas

Desalination, wastewater recycling posited as workable solutions to South Africa’s water crisis  

     10th August 2017 Creamer Media’s Samantha Herbst talks to journalist Dylan Slater about the ways South Africa is mitigating the water crisis. 

Desalination, wastewater recycling posited as workable solutions to South Africa’s water crisis
Desalination, wastewater recycling posited as workable solutions to South Africa’s water crisis.

India's Jindal Steel and Power narrows June quarter loss, beats estimates

By: Reuters     10th August 2017 Jindal Steel and Power, one of India's biggest steelmakers, beat estimates with a narrower first-quarter loss, boosted by higher revenue from its iron and steel business. Revenue from Jindal's iron and steel segment rose about 26% to 47.13-billion rupees ($740.61-million). 

Eskom to sell more surplus power in major turnaround

By: Reuters     10th August 2017 South African power utility Eskom is to start selling more of its surplus capacity as new plants come on line, its acting chief executive said on Thursday, marking a shift from two years ago when the company had to conserve power because of shortages. South Africa had regular power cuts in 2015... 

Toyota SA pursues production of budget car at Durban plant

By: Irma Venter     10th August 2017 Toyota South Africa Motors (TSAM) is investigating the possibility of manufacturing a new passenger car at its Prospecton plant, in Durban. “We are seeking the opportunity to produce something more affordable,” says TSAM CEO Andrew Kirby. 

Toyota SA pursues production of budget car at Durban plant
Production at Toyota's Durban plant

Helios Towers Tanzania acquires Zantel’s mainland tower portfolio

By: Natasha Odendaal     10th August 2017 Telecommunications infrastructure firm Helios Towers Tanzania (HTT) is acquiring all mainland unique telecoms tower sites from Zanzibar Telecom (Zantel) for an undisclosed amount. The acquisition will bring the Helios Towers Africa (HTA) subsidiary’s telecoms tower sites in Tanzania to around 3... 

Volvo Car SA ready for hybrid, electric vehicle rollout post-2019, says MD

By: Irma Venter     10th August 2017 Volvo Car South Africa (VCSA) MD Greg Maruszewski is confident the local arm of the Swedish group will be able to thrive under its parent company’s new powertrain policy. Volvo announced last month that all new cars launched globally from 2019 onwards will be partially or completely... 

Volvo Car SA ready for hybrid, electric vehicle rollout post-2019, says MD
Volvo Car South Africa MD Greg Maruszewski

N3 reopened after bridge collapse, rubble cleared overnight

By: African News Agency      10th August 2017 Rubble and huge concrete structures from the pedestrian bridge which collapsed on the N3 between the Geldenhuys and Gilloolys interchanges on Tuesday were cleared overnight and the busy freeway was reopened early Wednesday morning. The decommissioned bridge collapsed onto vehicles below, injuring... 

Transnet to recapitalise Zimbabwe rail firm 

By: Reuters     10th August 2017 South African logistics group Transnet has won a bid to recapitalise the government-owned National Railways of Zimbabwe (NRZ) with $400-million, the company's board chairman said on Thursday. Larry Mavhima said the financially struggling NRZ will begin contract negotiations with Transnet next week. 

Maersk family foundation launches Africa infrastructure fund

By: Reuters     10th August 2017 AP Moller Holding, which controls Danish shipping giant AP Moller-Maersk, said Wednesday it has launched a new fund that will invest in infrastructure in Africa. The fund, which was launched with pension funds PKA, PensionDanmark and Medical Doctors' Pension Fund, has received commitments of... 

Informal economy not enough to handle Africa's workforce explosion

By: Reuters     10th August 2017 Unemployment in Nigeria, sub-Saharan Africa's largest economy, is running at more than 14% and climbing; in South Africa, the second largest economy, it is over 27%. For youth in both places, it is far more. This may seem bad enough, but according to International Monetary Fund calculations the... 

Informal economy not enough to handle Africa's workforce explosion

AB InBev to merge Russia and Ukraine businesses with Anadolu Efes

By: African News Agency      9th August 2017 The world’s largest brewer, Anheuser-Busch InBev (AB InBev) said on Wednesday that it has reached a non-binding agreement with Anadolu Efes, the leading brewer in Turkey, regarding a 50:50 merger of AB InBev’s and Anadolu Efes’ existing Russia and Ukraine businesses. This comes AB InBev’s... 

AB InBev to merge Russia and Ukraine businesses with Anadolu Efes

Samwu to march on Midvaal Municipality

By: African News Agency      9th August 2017 The South African Municipal Workers Union (Samwu) has said that it would be marching to the Midvaal Municipal offices, south of Johannesburg, on Thursday in protest against working conditions and to deliver a memorandum of demands. Samwu’s spokesperson, Papikie Mohale, said the protest march... 

Samwu to march on Midvaal Municipality

Gauteng Premier sends Transport MEC to scene of collapsed N3 pedestrian bridge

By: African News Agency      9th August 2017 Gauteng Premier David Makhura has dispatched the MEC for Roads and Transport Ismail Vadi to asses the damage caused by the collapsed pedestrian bridge which runs across the N3 freeway near the Geldenhuys interchange. Five people – including a seven-year-old child – were injured in the early... 

Gauteng Premier sends Transport MEC to scene of collapsed N3 pedestrian bridge

Zuma survives no confidence vote, opposition vow to step up pressure

By: African News Agency      8th August 2017 President Jacob Zuma on Tuesday survived a vote of no confidence in the National Assembly, but the result indicated that a significant number of African National Congress (ANC) MPs broke ranks to support the opposition motion. Speaker Baleka Mbete announced that 177 MPs voted in favour of the... 

Zuma survives no confidence vote, opposition vow to step up pressure
Photo by Reuters
President Jacob Zuma

Mpact halves H1 dividend amid weaker trading environment

By: Anine Kilian     8th August 2017 Packaging company Mpact halved its interim dividend from 30c to 15c, the company said on Tuesday. Presenting Mpact’s financial results for the six months ended June 30, CEO Bruce Strong said headline earnings a share decreased by 64% to 33.9c from 94.9c in the first six months of the prior year,... 

Macozoma concerned South Africa may miss out on big electric-vehicle opportunity 

By: Terence Creamer     8th August 2017 Leading business personality Saki Macozoma has expressed concern that South Africa is not fully aligning its economic and industrialisation plans to areas of future demand, including in the area of electric vehicles (EVs). Speaking at the launch of a new book authored by political commentator... 

Macozoma concerned South Africa may miss out on big electric-vehicle opportunity
Photo by Duane Daws
Saki Macozoma

New iDube Cold Storage facility unveiled at Dube TradePort

By: Creamer Media Reporter      8th August 2017 The new, multipurpose R99-million iDube Cold Storage facility has officially opened in the Dube TradePort Special Economic Zone (SEZ), in KwaZulu-Natal. The 4 500 m2 facility, which has the capacity to handle 8 600 mobile pallet positions and store up to 12 000 t of perishable product, will cater... 

Politics jeopardising employment in South Africa – Solidarity

By: Anine Kilian     8th August 2017 Trade union Solidarity on Tuesday expressed concern about South Africa’s persistent weak unemployment statistics.  This comes after Monday’s release, by Statistics South Africa, of its Quarterly Labour Force Survey, which showed that the expanded definition of unemployment had widened from 36.4%... 

City of Joburg to host open days to resolve billing crisis

By: Natasha Odendaal     8th August 2017 The City of Johannesburg (CoJ) is embarking on a series of highly concentrated “billing open days” over the next few months to resolve lingering billing issues, reduce the backlog of incorrect accounts and enable ratepayer interaction with frontline staff and senior management. The open days will... 

Deloitte urges stakeholders to comment on Cybersecurity Bill

By: Natasha Odendaal     8th August 2017 With the deadline for the submission of comments for the proposed Cybercrimes and Cybersecurity Bill closing on Thursday, Deloitte has urged stakeholders to provide views on the proposals set to govern the cyberworld. The new Bill had been introduced in a move aimed at establishing a coordinated... 

Greenbay raises R4bn in accelerated bookbuild

By: Creamer Media Reporter      8th August 2017 Stock Exchange of Mauritius- and JSE-listed Greenbay Properties on Tuesday raised about R4-billion in an accelerated bookbuild. This was double the R2-billion it had initially set out to raise. 

Sea Harvest provides maiden interim earnings forecast

     8th August 2017 Sea Harvest, which listed on the JSE in March, on Tuesday said it expects to report earnings a share of 62c to 69c for the six months ended June 30. Headline earnings a share are expected to be 53c to 60c. 

Trump administration's Africa policy in focus at Agoa trade talks

By: Reuters     8th August 2017 With the Trump administration's trade agenda focused on reining in China and renegotiating the North American Free Trade Agreement, Africa has barely appeared on the radar screen. That could change this week as President Donald Trump's top trade negotiator and other senior US officials head to... 

Eskom to temporarily close section of R21 on Sunday to replace transmission line

By: Natasha Odendaal     8th August 2017 State-owned power utility Eskom will be temporarily shutting down certain sections of the R21 highway on Sunday to complete the replacement of the Apollo-Croydon transmission line. This Sunday, there will be temporary road closures between 05:00 and 18:00 at the Flying Saucer interchange and... 

Icasa tackles data expiry woes

By: Natasha Odendaal     8th August 2017 The Independent Communications Authority of South Africa (Icasa) on Monday gazetted proposed regulatory amendments aimed at mitigating mobile operators’ expiry of data and out-of-billing practices. The End-User and Subscriber Service Charter Amendment Regulations 2017 aim to dictate that the... 

Sacci BCI continues to regain some lost ground in July

By: Creamer Media Reporter      8th August 2017 The Southern African Chamber of Commerce and Industry’s (Sacci’s) Business Confidence Index (BCI) increased by 0.4 index points month-on-month to 95.3 in July – the index’s highest levels since February. Sacci noted that although the BCI continued to regain some lost ground after the March... 

Sacci BCI continues to regain some lost ground in July

No-confidence vote signals 'High Noon' for South Africa's Zuma

By: Reuters     8th August 2017 Protesters blocked roads with burning tyres and rocks on Tuesday in a show of opposition to President Jacob Zuma hours before the South African parliament was due to vote on a no-confidence motion which could force him to step down. Newspaper headlines reflected the high stakes at play -- "JZ's... 

No-confidence vote signals 'High Noon' for South Africa's Zuma
President Jacob Zuma

BBBEE Commission initiates investigation into 17 companies for possible fronting 

By: Creamer Media Reporter      8th August 2017 Investigations have been initiated by the Broad-Based Black Economic Empowerment (BBBEE) Commission against 17 firms for possible fronting practices. Any of the entities found to be in violation of the BBBEE Act in terms of ownerships structures and noncompliance with the Codes of Good Practice... 

Free State shopping centre set for R338m redevelopment

By: Creamer Media Reporter      8th August 2017 JSE-listed real estate investment trust (Reit) Vukile Property Fund will invest R338-million in expansion and redevelopment of the Maluti Crescent shopping centre, in Phuthaditjhaba, Free State.   The project will add 12 357 m2 to the centre, taking it to a total 34 360 m2.  Simultaneously, the... 

Nigeria to permanently seize former oil minister's $37.5m property

By: Reuters     8th August 2017 Nigeria has been told by a court it can permanently seize a $37.5-million apartment block owned by a former oil minister who is wanted for money laundering. The property belongs to former petroleum minister Diezani Alison-Madueke, who was in office between 2011 and 2015. It had previously been... 

Cape Town residents advised to use water sparingly during hot weather

By: News24Wire      8th August 2017 The City of Cape Town is urging all water users to reduce their water usage further during the unseasonably hot, dry weather that Cape Town is currently experiencing. The city said consumption has remained too high, exacerbated by the warmer weather and associated evaporation. 

Lafarge to merge Nigerian units to simplify ownership structure

By: Reuters     8th August 2017 Lafarge Africa is consolidating its businesses on the continent to simplify its ownership structure and operations, its head of strategy told Reuters on Monday. Wole Adeleke said the decision was made three years ago after Lafarge combined its Nigerian business with its South African operations... 

BLSA appoints Maseko as new communications director

By: Creamer Media Reporter      7th August 2017 Business Leadership South Africa (BLSA) on Monday announced the appointment of Themba Maseko as communications director with immediate effect. Maseko is a former Cabinet spokesperson and served as CEO of Government Communications Information Services. 

BLSA appoints Maseko as new communications director
New BLSA communications director Themba Maseko

Lithium processors prepare to meet demand in era of electric car 

By: Reuters     7th August 2017 Producers of processed lithium – an essential element for batteries used in electric cars – are agreeing long-term contracts with their customers to fund the investments needed to address a looming shortfall. Demand for battery-grade lithium compounds is expected to skyrocket in the next decades... 

Lithium processors prepare to meet demand in era of electric car

Job-shedding in the thousands cause for alarm – Seifsa

By: Natasha Odendaal     7th August 2017 The loss of 25 000 jobs in the metals and engineering sector during the three-year period from July 2014 to June 2017 necessitates that a workable solution be found to halt the “jobs bloodbath”, says the Steel and Engineering Industries Federation of Southern Africa (Seifsa). With a first-quarter... 

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