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Latest News

Petrochemicals becoming largest driver of global oil demand – IEA

By: Simone Liedtke     5th October 2018 Petrochemicals are becoming the largest drivers of global oil demand, ahead of cars, planes and trucks, a study undertaken by the International Energy Agency (IEA) has revealed. Petrochemicals, which are components derived from oil and gas that are used in all sorts of daily products such as... 

Nene's involvement with son's business dealings questioned

By: News24Wire      5th October 2018 Finance Minister Nhlanhla Nene has been pulled into the orbit of a questionable investment by the Public Investment Corporation (PIC) in Mozambique, after it emerged that a business partner of his son scored millions of rand in the deal.  The Mail & Guardian and amaBhungane reported on Friday... 

Nene's involvement with son's business dealings questioned
Photo by Reuters
Finance Minister Nhlanhla Nene

South Africa’s changing energy mix requires more investment

By: Tasneem Bulbulia     5th October 2018 Given the difficulties and challenges facing the energy generation model in South Africa, there is much scope for foreign direct investment into the country’s energy sector. This one of the ideas unpacked by various panelists at an energy sector-focused discussion held at the South African–French... 

Icasa publishes discussion document to define its role and responsibilities in cybersecurity matters

By: Natasha Odendaal     5th October 2018 The Independent Communications Authority of South Africa (Icasa) this week published a discussion document to determine its role in the regulation of cybersecurity. Interested parties have until November 30 to make their written submissions on the matter, after which the authority will likely... 

SAA appoints Telkom’s Fredericks new interim CFO

By: Simone Liedtke     5th October 2018 South African Airways (SAA) on Friday announced that Deon Fredericks has been appointed SAA’s new interim CFO, effective October 15. Fredericks is on secondment from Telkom for a 12-month period. 

SAA appoints Telkom’s Fredericks new interim CFO
Photo by Dylan Slater
Newly-appointed SAA interim CFO Deon Fredericks

Nzimande wants urgent report on Kempton Park train crash

By: News24Wire      5th October 2018 Transport Minister Blade Nzimande wants an urgent report on the Kempton Park train crash after 320 people were injured in the collision between two trains on Thursday. Nzimande is seeking answers from the Rail Safety Regulator (RSR), his spokesperson Ishmael Mnisi said on Friday. "Minister... 

Marine waste a pressing issue, but few solutions in sight 

By: Dylan Slater     5th October 2018 Plastics have become the “ubiquitous workhorse material” of the modern economy, combining unrivalled functional properties with low cost, and its use has increased twenty-fold in the past half-century, according to circular economy advocacy charity The Ellen MacArthur Foundation.  

Marine waste a pressing issue, but few solutions in sight

We are rooting out State capture, corruption to save and create jobs - Ramaphosa 

By: African News Agency      4th October 2018 President Cyril Ramaphosa on Thursday said his government was determined to eliminate the capture of the State and its organs through corruption which he said was one of the greatest barriers to investment and job creation in South Africa. "One of the greatest barriers to investment, growth and... 

We are rooting out State capture, corruption to save and create jobs - Ramaphosa
Photo by Dylan Slater
President Cyril Ramaphosa

Jobs summit has raised expectations in SA – Labour Minister

By: African News Agency      4th October 2018 Labour Minister Mildred Oliphant on Thursday charged the jobs summit - bringing together government, business, labour and community formations - to identify solutions for jobs retention, and to identify job creation challenges and opportunities that each social partner can contribute towards.... 

Jobs summit has raised expectations in SA – Labour Minister
President Cyril Ramaphosa & Labour Minister Mildred Oliphant

Buy local to save jobs in South Africa, says Ramaphosa

By: African News Agency      4th October 2018 President Cyril Ramaphosa on Thursday urged companies doing business in South Africa, government entities and the general populace to prioritize purchasing locally manufactured goods and products in a bid to create and save jobs. "For the economy to grow and for jobs to be created, it is... 

 Buy local to save jobs in South Africa, says Ramaphosa
Photo by Dylan Slater
President Cyril Ramaphosa

Ramaphosa says jobs plan will create 275,000 jobs a year

By: Reuters     4th October 2018 South African President Cyril Ramaphosa said on Thursday that a gathering of top officials and business leaders had agreed on a package of measures that would create an additional 275 000 jobs a year. Under pressure after the economy slipped into recession this year, Ramaphosa said the measures... 

Ramaphosa says jobs plan will create 275,000 jobs a year
Photo by Dylan Slater
President Cyril Ramaphosa

Dlamini-Zuma calls for collaboration as NDP is divided into smaller plans

By: Simone Liedtke     4th October 2018 Minister in the Presidency Nkosazana Dlamini-Zuma on Thursday called for greater collaboration between the public and private sectors in South Africa as she announced that the National Development Plan (NDP) would be divided into smaller plans that would be attended to within five-year... 

Dlamini-Zuma calls for collaboration as NDP is divided into smaller plans
Minister in the Presidency Nkosazana Dlamini-Zuma

Necsa hopeful that radioisotope production will restart soon

By: Rebecca Campbell     4th October 2018 South African Nuclear Energy Corporation (Necsa) CEO Phumzile Tshelane told “Engineering News Online” on Thursday that it was hoped that production at its subsidiary NTP Radioisotopes would restart in the near future. Operations at NTP were shut down in June following a breach in safety... 

Necsa hopeful that radioisotope production will restart soon
Photo by Duane Daws/Creamer Media
Necsa’s Pelindaba complex, which includes its NTP operation

Detailed Jobs Summit package includes R100bn for black industrial firms  

By: Terence Creamer     4th October 2018 The detailed 84-page framework agreement unveiled by President Cyril Ramaphosa at the much-anticipated Jobs Summit on Thursday includes a reaffirmation of a commitment by the financial sector to invest R100-billion in black-owned industrial enterprises over the coming five years. Funding for... 

Detailed Jobs Summit package includes R100bn for black industrial firms
President Cyril Ramaphosa discusses the expected outcomes of the Jobs Summit and the importance of greater cooperation among social partners to grow the economy and create jobs. Video and editing: Nicholas Boyd.

Mercedes-Benz unveils self-driving, electric, interchangeable van vision 

By: Irma Venter     4th October 2018 The future of the van is self-driving, electric and versatile, says Mercedes-Benz. The German manufacturer unveiled its Vision Urbanetic at the 2018 IAA Commercial Vehicle show in Germany last month. The envisaged new member of the Mercedes-Benz Vans family will be based on an all-electric... 

 Mercedes-Benz unveils self-driving, electric, interchangeable van vision
The Vision Urbanetic explained

Current proposed automotive Code of Conduct ‘catastrophic’, warns dealer body

By: Irma Venter     4th October 2018 Implementing the proposed automotive industry Code of Conduct (CoC) in its current form will have a “catastrophic effect on the economy as it undermines investment, employment and consumer welfare in this important sector of our economy”, says National Automobile Dealers’ Association (NADA)... 

 Current proposed automotive Code of Conduct ‘catastrophic’, warns dealer body
Mark Dommisse

Mining remains key driver in low to middle income countries – ICMM

4th October 2018 Despite falling commodity prices, many of the world’s poorest countries have become more dependent on their income from mining, new research published by the International Council on Mining and Metals (ICMM) has found. The ICMM on Thursday released the fourth edition of its Mining Contribution... 

Macro disquiet drowns out signs of base metals shortages

By: Reuters     4th October 2018 Uncertainty about how metals demand will be hit by trade wars, rising US interest rates and a slowdown in China is weighing on industrial metals prices, submerging signals pointing to potential shortages. The index of copper and five other top industrial metals traded on the London Metal Exchange... 

ATNS announces interim CEO

By: Rebecca Campbell     4th October 2018 The Board of Directors of South Africa’s Air Traffic and Navigation Services (ATNS), the State-owned company responsible for the country’s air traffic control, announced on Wednesday that it had appointed an interim CEO for the organisation. He is Thomas Kgokolo, who was (before his new... 

Eskom suspends senior manager pending investigations into internal audit reports 

By: News24Wire      4th October 2018 Eskom announced on Thursday afternoon that it had placed its Senior General Manager of Assurance and Forensics, Molefi Nkhabu, on a precautionary suspension. The power utility said this was pending an investigation into circumstances surrounding internal audit investigation reports related to... 

 Eskom suspends senior manager pending investigations into internal audit reports

Eskom suspends head of assurance, forensics pending investigation

By: Creamer Media Reporter      4th October 2018 Eskom has placed its senior GM of assurance and forensics Molefi Nkhabu on a precautionary suspension pending an investigation into circumstances surrounding internal audit investigation reports pertaining to transactions that he signed off on, which contain inferences or conclusions which had... 

Fresh blow for emerging markets as rising oil hits importers

By: Bloomberg     4th October 2018 For years, higher oil prices have stoked gains in emerging-market currencies. But now, Brent crude’s rally to a four-year high is beginning to hurt them. Crude-oil futures rose above $85 a barrel this week for the first time since 2014 as concern about shrinking Iranian exports outweighed higher... 

Paramount appoints CEO for new South African subsidiary

By: Creamer Media Reporter      4th October 2018 Aerospace and defence company Paramount Group has appointed Mike Ramagoma CEO of its new subsidiary, Paramount South Africa.   Paramount South Africa was founded to bolster the capacity of South African end-users by providing advanced technologies and solutions that form part of Paramount Group’s... 

Zimplats held up as mine safety benchmark at Joburg Indaba

By: Martin Creamer     4th October 2018 Zimplats platinum mine in Zimbabwe was held up as a safety benchmark at the Joburg Indaba, which on Thursday observed a minute’s silence for mining colleagues fatally injured at work. Opening the second day of the well-attended event, Gold Fields, Kumba Iron Ore and AfriTin director Terence... 

Zimplats held up as mine safety benchmark at Joburg Indaba
Terence Goodlace

No forced public service retrenchments as government readies for Jobs Summit

By: News24Wire      4th October 2018 Government will use the Jobs Summit starting on Thursday to promise that there will be no forced retrenchments in the 1.3-million-strong public service, says Madoda Vilakazi, executive director of Nedlac, which is running the presidential jobs extravaganza. Nedlac is the National Economic... 

No forced public service retrenchments as government readies for Jobs Summit

African transport infrastructure insufficient for continental growth – Nzimande

By: African News Agency      4th October 2018 Transport Minister Blade Nzimande has said that if Africa wants to capitalise on its fast growth trajectory it needed better transport and logistics as current infrastructure was “insufficient”. Delivering the keynote address at the 2018 African Ports and Rail Evolution Conference at the Inkosi... 

Mobile laboratories use robots to teach children about sciences 

4th October 2018 The Inspired towards Science, Engineering and Technology, or I-Set, project, sponsored by petrochemicals company Sasol and facilitated by the University of South Africa, uses mobile laboratories and robotics kits to teach science to school children. Schalk Burger has the story. 

Mobile laboratories use robots to teach children about sciences
Mobile laboratories use robots to teach children about sciences

Eskom, coal sector must collaborate to overcome challenges

By: Nadine James     3rd October 2018 Power utillity has not ruled out the possibility of introducing special tariffs for industry, Matleng Energy Solutions chairperson and Eskom nonexecutive director Nelisiwe Magubane noted in an address at the Joburg Indaba on Wednesday. She stated, however, that, to date, the coal mining “industry... 

Investment dream team has hit the ground running – Ramaphosa

By: News24Wire      3rd October 2018 President Cyril Ramaphosa says his special envoys on investment have held 150 meetings with investors in total - visiting Johannesburg, Cape Town and nine countries over five months. This as Ramaphosa updated Members of Parliament in a written reply to questions on one of his earliest economic... 

Investment dream team has hit the ground running – Ramaphosa
President Cyril Ramaphosa

First African Rolls-Royce lease engine storage facility opens at SAAT

By: Simone Liedtke     3rd October 2018 In the culmination of a two-year journey, Rolls-Royce and South African Airways Technical (SAAT) on Wednesday celebrated the official opening of Rolls-Royce’s first lease engine storage facility in Africa. This facility, based at SAAT’s premises in Kempton Park, Gauteng, marks a milestone event... 

First African Rolls-Royce lease engine storage facility opens at SAAT
(Left to Right) Rolls-Royce Africa customers VP Kevin Evans, Trade and Industry acting deputy director general Thandi Phele and SAAT acting CEO Wellington Nyuswa

South Africa's service industry looks to cash-in on Brexit uncertainty

By: Reuters     3rd October 2018 South Africa’s burgeoning call services sector, which gets more than half its work from Britain, could attract larger inflows as the impact of Brexit weighs and firms seek savings by moving operations offshore, industry officials said on Wednesday. Cultural affinity, good English language skills... 

Revenue up, profit down, as EOH cuts cloth for future growth

By: Schalk Burger     3rd October 2018 JSE-listed information technology group EOH has separated into two companies as part of its work to renew the business and position it for growth. The EOH-branded information and communication technology (ICT) business will focus on digital services in a digitising economy and the Nextec company... 

IRP 2018 suffers from major errors, affirms nuclear analyst 

By: Rebecca Campbell     3rd October 2018 South Africa's Integrated Resource Plan (IRP) 2018 contained serious flaws which significantly undermined confidence in its recommendations. So affirmed University of the Witwatersrand Honorary Research Fellow and South African Network for Nuclear Education, Science and Technology National... 

Water an asset for sustainable growth

By: Tasneem Bulbulia     3rd October 2018 Over and above appreciating the intrinsic value of water as a vital human resource, the South African approach should be to recognise the business value of the commodity and, therefore, the country should pursue investments in the sector to generate sustained economic growth, employment and... 

World Bank lowers 2018 growth forecast for South Africa

By: Terence Creamer     3rd October 2018 The World Bank has lowered its 2018 gross domestic product (GDP) growth forecast for South Africa to 1%, from an April projection of 1.4%, and says the country’s growth will remain subdued in 2019. The bank also lowered its 2019 projection for South Africa to 1.3%, from 1.8% in April, and... 

World Bank lowers 2018 growth forecast for South Africa

Nene denies EFF allegations that he facilitated Gupta access for funding 

By: African News Agency      3rd October 2018 Finance Minister Nhlanhla Nene has testified that contrary to assertions by the Economic Freedom Fighters (EFF), he did reply to their letter sent in May this year, in which he denied allegations that he was the gateway for the Guptas to access Public Investment Corporation (PIC) funding.... 

Nene denies EFF allegations that he facilitated Gupta access for funding
Photo by Reuters
Finance Minister Nhlanhla Nene

Public Enterprises confirms DG is 'leaving the public service'

By: African News Agency      3rd October 2018 The public enterprises ministry on Wednesday confirmed director-general Richard Seleke would be leaving the public service. In a statement issued on Wednesday afternoon, the ministry said it had been informed by President Cyril Ramaphosa's office that an agreement had been reached with Seleke... 

Public Enterprises confirms DG is 'leaving the public service'
Photo by Dylan Slater
Public Enterprises Minister Pravin Gordhan

Goldman forecasts South African economic rebound in 2019

By: Reuters     3rd October 2018 Goldman Sachs expects South Africa's economy to grow almost 3% next year, helped by President Cyril Ramaphosa's reforms and strong global growth, the bank's sub-Saharan Africa head told Reuters. Colin Coleman's prediction is more optimistic than the view held by economists polled by Reuters last... 

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