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Latest News

Icasa to publish findings on effect of pro-competitive conditions in the call termination regulations by April 30

By: Natasha Odendaal     15th March 2017 The Independent Communications Authority of South Africa (Icasa) on Wednesday held a stakeholder meeting on the impending review of the pro-competitive conditions imposed on licensees in the 2014 mobile call termination rate and fixed call termination rate regulations. The authority is conducting... 

4AX to hold first listing in April

By: Megan van Wyngaardt     15th March 2017 Although the Financial Services Board has agreed to South African stock exchange, 4 Africa Exchange (4AX), becoming operational and ready for trade at the end of February, the bourse will only see its first listing in April. “Given all the holidays that are coming up and the fact that we cannot... 

4AX to hold first listing in April

High Q1 ferrochrome price settled at lower Q2 level – Merafe

By: Martin Creamer     15th March 2017 The European benchmark ferrochrome price has been settled at US$1.54/lb for the second quarter (Q2) of 2017, a decrease of 6.7% on the high-flying US$165/lb first quarter (Q1) price, Merafe Resources announced on Wednesday. The settled Q2 price is well up on the average 2016 European benchmark... 

High Q1 ferrochrome price settled at lower Q2 level – Merafe
Photo by Duane Daws
Merafe Resources CEO Zanele Matlala

Q1 business confidence rises but remains in negative terrain

By: Reuters     15th March 2017 South Africa's business confidence rose slightly in the first quarter but remained in negative territory, a survey showed on Wednesday, an outcome that could jeopardise efforts to boost economic growth. The Rand Merchant Bank (RMB) business confidence index compiled by the Bureau for Economic... 

South Africa's Engen to ship gasoil to Singapore in rare move – sources

By: Reuters     15th March 2017 South African petroleum company Engen is set to export a gasoil cargo to Singapore, according to trade sources and shipping data. The company has provisionally booked the Torm Horizon to transport 35 000 t of gasoil to Singapore from Durban, shipping fixtures showed. 

Ethiopia declares three day-national mourning after fatal landslide

By: Reuters     15th March 2017 Ethiopia has declared three days of national mourning for victims of a landslide at a rubbish landfill site in the capital Addis Ababa. Flags flew at half mast on Wednesday as the government announced that the death toll from the disaster that occurred at the 50-year-old Reppi dump on Saturday... 

Egypt replaces heads of state oil and gas companies

By: Reuters     15th March 2017 Egyptian Oil Minister Tarek al-Molla has replaced the heads of state oil company EGPC and state gas company EGAS, the Ministry of Petroleum said in a statement on Tuesday. Abed Ezz el-Regal will replace Tarek al-Hadidi, appointed in April 2016, as head of EGPC while Osama Al Bakly will take over... 

New APDP must boost volumes, exports, says Merc SA CEO

By: Irma Venter     15th March 2017 Given the poor outlook for growth in sub-Saharan Africa since the sharp decline in oil and commodity prices, “it would be reasonable to conclude” that any government support programme for the South African automotive industry requires a “sustainable export strategy”, says Mercedes-Benz South... 

New APDP must boost volumes, exports, says Merc SA CEO

Indian DRI plants face iron-ore shortage

By: Ajoy K Das     15th March 2017 Indian sponge iron, or direct reduced iron (DRI), manufacturers are facing an acute shortage of iron-ore despite the government liberalising norms for the allocation of iron-ore blocks and with the country poised to achieve a five-year high in the production of the raw material. The shortage of... 

Taking ECSA, Minister to court was a ‘last resort’, says Saice

By: Anine Kilian     14th March 2017 Taking legal action against the Engineering Council of South Africa (ECSA) and Public Works Minister Thulas Nxesi was a last resort in attempts to have the current ECSA council suspended, South African Institution of Civil Engineering (Saice) CEO Manglin Pillay told Engineering News Online on... 

Jonas unpacks vision for ‘radically’ changed South African economy  

By: Terence Creamer     14th March 2017 The existing structure of the South African economy is not yielding the growth and employment returns required and a “new consensus” on the necessary trade-offs for igniting inclusive growth is, therefore, urgently required, Deputy Finance Minister Mcebisi Jonas argues. Speaking at the Gordon... 

Jonas unpacks vision for ‘radically’ changed South African economy
Photo by Duane Daws
Deputy Finance Minister Mcebisi Jonas

Seifsa seeks to reward companies with good health, safety performances

By: Anine Kilian     14th March 2017 The Steel and Engineering Industries Federation of Southern Africa (Seifsa), which will hold its yearly Awards for Excellence in May, will honour those companies that have upheld high health and safety performances in 2016.   Seifsa CEO Kaizer Nyatsumba says that, although the metals and... 

Eskom, CDC sign MoU in preparation for possible Thyspunt nuclear build

By: Natasha Odendaal     14th March 2017 As South Africa “gears up” for its Nuclear New Build Programme (NNBP), State-owned power utility Eskom has joined hands with the Coega Development Corporation (CDC) as its partner on the ground at the preferred Thyspunt site, in the Eastern Cape, for the construction of the programme’s first... 

Barloworld launches incubation hub to assist in SMME development

By: David Oliveira     14th March 2017 JSE-listed Barloworld on Tuesday launched the Siyakhula Incubation Hub at its Johannesburg offices to assist suppliers and other companies operating in its value chain to overcome challenges such as market access, finance and skills that tend to impact on small, medium-sized and microenterprises... 

Outa, Untu speak out against appointment of interim PRASA board 

By: Anine Kilian     14th March 2017 The United National Transport Union (Untu) does not believe the newly appointed interim board of State-owned Passenger Rail Agency of South Africa (PRASA) will be able to save the entity. Transport Minister Dipuo Peters on Monday announced the appointment of the interim board, which will be... 

Cell C posts first profit of R540m

By: Natasha Odendaal     14th March 2017 South Africa’s third-largest mobile operator Cell C on Tuesday posted a profit for the first time of R540-million for the year ended December 31, a reverse on the loss of R5.6-billion recorded in the prior financial year. The growth was attributed in bulk to foreign exchange-related gains... 

Cell C posts first profit of R540m
Photo by Duane Daws
Cell C CEO Jose dos Santos

39% of South Africans interested in self-driving cars – Deloitte

By: Irma Venter     14th March 2017 South Africans are divided on who they trust the most to bring self-driving technology to market, with half of consumers preferring tech companies and the other half choosing traditional car manufacturers, reveals the Deloitte Global Automotive Consumer Study, released in South Africa on Tuesday.... 

39% of South Africans interested in self-driving cars – Deloitte

Somali pirates hijack first commercial ship since 2012

By: Reuters     14th March 2017 Pirates have hijacked an oil tanker with eight Sri Lankan crew onboard, a Somali official said on Tuesday, the first time they have successfully taken a commercial ship since 2012. The Aris 13 sent a distress call on Monday, turned off its tracking system and altered course for the Somali port... 

Commonwealth Games too costly – Mbalula

By: African News Agency      14th March 2017 The expectation that the South African government would have to provide more money than Cabinet had approved for the Commonwealth Games could not be sustained in the current economic environment, the Sport and Recreation Minister Fikile Mbalula said. Mbalula was speaking at the Moses Mabhida... 

S&P Global sees higher use of guarantees by Eskom as ratings ‘pressure point’

By: Terence Creamer     14th March 2017 S&P Global warns that contingent liabilities associated with guarantees to State-owned companies (SoCs) such as Eskom have emerged as a “pressure point” for South Africa’s sovereign rating, which the agency currently has at one notch above junk, but with a negative outlook. The negative outlook... 

S&P Global sees higher use of guarantees by Eskom as ratings ‘pressure point’

Manufacturing output up 0.8% y/y in January

By: Reuters     14th March 2017 South Africa's manufacturing output rose 0.8% year-on-year in January, lagging market expectations, after contracting 2% in December, Statistics South Africa said on Tuesday. Economists polled by Reuters had forecast manufacturing volumes would rise by 1.05% year-on-year in January. 

Go Life, Elysium deal expands market to 2.5bn people

By: African News Agency      14th March 2017 Go Life International announced on Tuesday that it had agreed a strategic partnership with Elysium Healthcare that would enable the two companies to reach an estimated 2.5 billion people across 25 countries. Go Life, an integrated life sciences group with a range of patented technologies,... 

Bleeding at South Africa’s State-owned oil company continues, MPs told 

By: African News Agency      14th March 2017 State-owned oil company PetroSA is set to suffer a projected devaluation of assets of R1.1-billion this financial year in addition to the R14.5-billion impairment it suffered in the 2014/15 financial year, MPs heard on Tuesday. Briefing parliament’s portfolio committee on energy, PetroSA board... 

Bleeding at South Africa’s State-owned oil company continues, MPs told

Bereaved families jostle rescue workers at Ethiopian landslide site

By: Reuters     14th March 2017 Bereaved families tussled with rescue workers on Tuesday at the site of an Ethiopian rubbish dump where a landslide killed 65 people this weekend. Relatives pushed and shoved the handful of emergency workers, angrily accusing them of delays and saying dozens of people were still missing after... 

Grayston drive bridge inquiry postponed again 

By: African News Agency      14th March 2017 The Department of Labour’s commission of inquiry into the Grayston Drive bridge collapse along the M1 which was scheduled to resume at the end of the month has been postponed again, the department said on Tuesday. The inquiry, scheduled for March 27 to May 4, was postponed due to “technical... 

Grayston drive bridge inquiry postponed again

Emergency measures in place for water crisis – Cape Town

By: News24Wire      14th March 2017 The City of Cape Town said on Monday disaster planning was underway to ensure measures were in place for the possibility of an extended drought. "[We] continue planning for the implementation of contingency and emergency measures in conjunction with the National Department of Water and... 

Growth, policy and politics remain concern to South Africa rating – S&P's

By: Reuters     14th March 2017 S&P's Global Ratings reiterated its concerns on Tuesday about weak economic growth, political tensions and policy reform in South Africa, which faces the prospect of downgrades to its sovereign credit ratings which would raise the cost of borrowing. "If we see a lot increasing political tensions,... 

Kusile’s Unit 1 reaches full load

By: Natasha Odendaal     14th March 2017 State-owned power utility Eskom on Tuesday said that Kusile power station’s Unit 1 had reached its full 800 MW load-generating capacity last week after the initial synchronisation on December 26. Kusile Unit 1, which is in the final stages of the combustion optimisation phase, is now one step... 

ECSA undeterred by court litigation proceedings

By: Anine Kilian     14th March 2017 The Engineering Council of South Africa (ECSA) on Tuesday said that it was undeterred by the allegations made by civil engineering voluntary association, the South African Institution of Civil Engineering (Saice), over the legitimacy of ECSA’s fifth term council, which was appointed by Public... 

Economic uncertainty contributes to muted employment growth

By: Anine Kilian     14th March 2017 Ongoing global economic uncertainty is holding South African employers back from increasing their staffing levels, with the latest ‘Manpower Employment Outlook Survey' (MEOS) showing cautiously optimistic hiring intentions for the second quarter of the year. “The majority of local employers said... 

Magara seizes Lonmin COO opportunity as he grasps low-price nettle 

By: Martin Creamer     13th March 2017 It’s 7 am. Ben Magara walks in bang on time for our interview. He left home at 4.15 am to be in the gym at 5 am and the office at 6 am. He has a nice spring in his step as he tells me that he has grasped the COO opportunity in addition to his role as CEO of platinum mining company Lonmin,... 

Magara seizes Lonmin COO opportunity as he grasps low-price nettle
Lonmin CEO Ben Magara

Low dam levels, high number of fires a challenge for the Western Cape

By: Megan van Wyngaardt     13th March 2017 The Western Cape government on Monday renewed its call for citizens to reduce their water consumption, as the average level of the province’s dams now stood at 28.4%. Western Cape Local Government, Environmental Affairs and Development Planning Minister Anton Bredell said the continued drop in... 

Low dam levels, high number of fires a challenge for the Western Cape

Trade between South Africa, UK to remain unaffected by Brexit

By: Megan van Wyngaardt     13th March 2017 Trade and Industry Minister Dr Rob Davies met with UK Trade Policy State Minister Lord Mark Price on the sidelines of the inaugural Commonwealth Trade Ministers Meeting, last week, and reiterated that there will be no interruption in the trade between South Africa and the UK as a result of the... 

Rain dampens PPC cement sales for January and February

By: African News Agency      13th March 2017 Cement producer PPC said on Monday that adverse weather had negatively affected cement and concrete sales in South Africa during January and February 2017. PPC was providing an operational update which reflected that rainfall in excess of 200 mm was experienced in many parts of the country during... 

Momentum builds at Bridge City mixed-use development

By: Anine Kilian     13th March 2017 Activities at the Bridge City mixed-used property development north of Durban are gathering momentum. To date, 65% of the 53 ha development area has been sold to a mix of public and private sector investors, while 360 000 m2 of bulk is still available for purchase in Bridge City. 

Merc SA adds three AMG models to production line in R200m investment

By: Irma Venter     13th March 2017 Mercedes-Benz South Africa (MBSA) will, in the second half of the year, add three new derivatives to its production line at the company’s East London plant, in the Eastern Cape. The new derivatives are AMG models, which refers to Mercedes-Benz’s range of high-specification performance vehicles. 

 Merc SA adds three AMG models to production line in R200m investment

PRASA gets interim board in attempt to bring stability

By: Natasha Odendaal     13th March 2017 Transport Minister Dipuo Peters has appointed an interim board to stabilise the ailing Passenger Rail Agency of South Africa (PRASA) and guide the parastatal until a new, permanent board is selected. Peters last week dissolved the entire PRASA board on the back of “declining performance, lack of... 

PRASA gets interim board in attempt to bring stability
Photo by Duane Daws
Transport Minister Dipuo Peters

Molewa publishes draft coastal waters discharge permit regulations for public input

By: Megan van Wyngaardt     13th March 2017 Environmental Affairs Minister Edna Molewa, on March 10, published the draft coastal waters discharge permit regulations in the Government Gazette for public comment. The regulations seek to provide an administrative framework to implement Section 69 of the National Environmental Management:... 

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