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Latest News

Afrox secures contract to supply medical gases to State healthcare facilities

By: Simone Liedtke     11th April 2018 JSE-listed African Oxygen (Afrox) has been awarded a contract to supply medical gases to government hospitals and clinics across all provinces. 

Kibo to raise cash for expedited Botswana coal-to-power study

By: Creamer Media Reporter      10th April 2018 Aim-listed energy and resource company Kibo Mining said on Tuesday that it would raise capital to expedite its feasibility study for its coal-to-power project in Botswana and also announced changes to its board and management. Kibo said that it had received commitments to raise £1.5-million by... 

Home Affairs vows to tackle long queues

By: Thabi Madiba     10th April 2018 Home Affairs Minister Malusi Gigaba on Tuesday directed his department to prepare a comprehensive report and strategy that will deal with managing long queues at Home Affairs branches across the country. Gigaba said this was high priority as the department remained committed to delivering high... 

Home Affairs vows to tackle long queues
Photo by Reuters
Home Affairs minister Malusi Gigaba

Extreme inequality in South Africa is constraining growth and investment 

By: Terence Creamer     10th April 2018 New analysis by the World Bank has confirmed that South Africa’s is not only the world’s most unequal country, but that extreme inequality has become a major constraint to higher levels of economic growth, because it is undermining policy certainty and depressing investment. The bank’s latest... 

Extreme inequality in South Africa is constraining growth and investment
World Bank program leader Sebastien Dessus and country director Paul Noumba Um on the negative impact that extreme inequality in South Africa is having on growth and investment. Camera Work & Editing: Darlene Creamer. Recorded: 10.4.2018

Gauteng open for business as InvestSA OSS launched

By: Simone Liedtke     10th April 2018 Boosting investor confidence is critical to positioning South Africa as a premium destination for foreign direct investment. To assist in achieving this, Trade and Industry Minister Dr Rob Davies, together with Gauteng Premier David Makhura, on Tuesday launched the InvestSA One Stop Shop (OSS) in... 

Manufacturing and construction to benefit from renewables

By: Creamer Media Reporter      10th April 2018 South Africa’s manufacturing and construction industries stand to benefit from renewed momentum of the renewable energy programme, following the recent conclusion of power purchase agreements (PPAs) for 27 projects procured under the Renewable Energy Independent Power Producer Procurement... 

World Bank ups SA growth forecast but says slow growth hobbles economy

By: African News Agency      10th April 2018 The World Bank has increased its projected growth for South Africa's gross domestic product, but said on Tuesday that the economy needs to break free from the low growth and high inequality it has been trapped in for decades. According to a report entitled Jobs and Inequality, the World Bank said... 

World Bank ups SA growth forecast but says slow growth hobbles economy

New technologies key to driving Africa’s growth

By: Anine Kilian     10th April 2018 Africa has a historic opportunity to accelerate growth and development by tapping into the potential that new technologies hold, ABB Asia, Middle East and Africa region President Dr Chun-Yuan Gu said on Tuesday. Delivering the keynote speech at the ABB Customer World Africa 2018 conference in... 

Vivo Energy plans to list on LSE, JSE

By: Simone Liedtke     10th April 2018 Vivo Energy, which is a retailer of Shell-branded fuels and lubricants in Africa, plans to proceed with an initial public offering (IPO) and to apply for admission of its shares to the LSE and the JSE. Admission is expected to occur in May. 

International airline body calls for greater cooperation within Africa regarding aviation

By: Rebecca Campbell     10th April 2018 Collaboration between aviation stakeholders, not least governments, in Africa is essential if the aviation sector is to realise its full potential and accelerate the development of the continent. So asserted International Air Transport Association (Iata) VP: Africa Raphael Kuuchi in his keynote... 

MTN expects IPO of Nigerian business this year

By: Reuters     10th April 2018 South Africa's MTN aims to list its Nigerian unit in an initial public offering this year, subject to market conditions, group chief executive Rob Shuter told Reuters on Tuesday. Shuter said plans were well advanced and the company would provide exact terms of the IPO in the next few months. 

Feb manufacturing output disappoints on firmer rand, bottlenecks

By: Reuters     10th April 2018 South Africa's manufacturing output came in below expectations in February following a run of five months of robust growth, with analysts pointing to a stronger rand and various bottlenecks, including the cost of doing business. Manufacturing output rose 0.6% year-on-year in February, well below... 

‘High priority’ IRP update to be published soon

By: Terence Creamer     10th April 2018 Department of Energy (DoE) director-general Thabane Zulu says the updated Integrated Resource Plan (IRP) is undergoing a final set of processes and consultations, as stipulated by Cabinet in December, before being published in the Government Gazette. Speaking at the Africa Power Roundtable in... 

‘High priority’ IRP update to be published soon
Photo by Dylan Slater
Department of Energy director-general Thabane Zulu

Aton makes formal offer to M&R shareholders

By: Simone Liedtke     10th April 2018 German family-owned business Aton has made a formal offer to Murray & Roberts (M&R) shareholders to acquire all shares in M&R at R15 a share. The company on Tuesday said it had already acquired a further 3.1% stake in M&R from a top ten shareholder and that it will soon buy a further 6.5%... 

EAIF raises $385m in new debt financing to drive five-year business plan

By: Simone Liedtke     10th April 2018   The Emerging Africa Infrastructure Fund (EAIF), managed by Investec Asset Management (IAM), has completed its latest fundraising round, raising $385-million in new long-term debt capital to invest in Africa. 

Monale Ratsoma appointed as Brics bank Africa region director-general

By: Simone Liedtke     10th April 2018 The National Treasury’s deputy director-general for economic policy Monale Ratsoma has been appointed director-general of the Brazil, Russia, India, China and South Africa, or Brics, New Development Bank (NDB) Africa Regional Centre. The appointment is effective from April 16. 

Telkom Kenya to merge some operations with Airtel Kenya – source

By: Reuters     10th April 2018 Telkom Kenya and Bharti Airtel's local units plan to merge some operations as a first step as Telkom plans to acquire all of Airtel's Kenyan assets, a source at the industry regulator said on Tuesday. Telkom Kenya plans to take over all of Airtel Kenya eventually but it has yet to decide on a... 

South Africa's rand strengthens as global trade war fears ease

By: Reuters     10th April 2018 South Africa's currency firmed against the dollar early on Tuesday as investor jitters over an escalating US-China trade row cooled with eyes on domestic manufacturing data and the central bank's monetary policy review. At 06:30 GMT the rand was 0.52% firmer at 12.0350 per dollar compared to its... 

Vodacom Tanzania picks Safaricom executive as its new managing director

By: Reuters     10th April 2018 Vodacom Tanzania on Monday named Safaricom's head of consumer business as its new managing director to lead the company that listed in Dar es Salaam last year amid government efforts to expand local ownership of the industry. Sylvia Mulinge, who has been at Safaricom since 2006, will take over on... 

South Africa to play key role in 2019 expedition to Antarctica’s Weddell Sea

By: Simone Liedtke     10th April 2018 The Weddell Sea off Antarctica, one of the coldest, harshest and most remote locations in the world, will be explored next year by a major international scientific expedition in which South African research organisations and scientists will play vital role. The January/February expedition will... 

East London dry dock hosts SA Agulhas for maintenance lay-up

By: Simone Liedtke     9th April 2018 The SA Agulhas is back in the now-refurbished Port of East London’s Princess Elizabeth dry dock, with improved facilities, for her lay-up maintenance plan after her previous visit in 2013. The contract to undertake maintenance on the 40-year-old vessel was awarded to local ship repair company... 

East London dry dock hosts SA Agulhas for maintenance lay-up
The SA Agulhas is back in the now-refurbished Port of East London’s Princess Elizabeth dry dock, with improved facilities, for her lay-up maintenance plan after her previous visit in 2013

Saftu submits first parliamentary objection to minimum wage

By: News24Wire      9th April 2018 The parliamentary committee on labour has accepted the submission by the South African Federation of Trade Unions (Saftu) on both the minimum wage and proposed amendments to the labour laws.  The minimum wage was initially supposed to be introduced on May 1. However, this has been delayed. 

 Saftu submits first parliamentary objection to minimum wage

Gordhan appoints new Denel interim board

By: Rebecca Campbell     9th April 2018 Public Enterprises Minister Pravin Gordhan on Monday announced a completely new, high-powered, board to turn around beleaguered State-owned defence industrial group Denel. Technically, it is currently an interim board, he explained, because it had not yet been approved by the Cabinet. He... 

Gordhan appoints new Denel interim board
Photo by Dylan Slater
Public Enterprises Minister Pravin Gordhan

Seifsa celebrates transformed companies in metals, engineering sector

By: Simone Liedtke     9th April 2018 The Steel and Engineering Industries Federation of Southern Africa (Seifsa) has called on companies that have embraced transformation in the metals and engineering sector to submit entries for the Most Transformed Company of the Year category of this year’s Seifsa Awards for Excellence. The... 

Researchers discover a new coastal current off Madagascar

By: Simone Liedtke     9th April 2018 South African, Malagasy and French researchers have discovered the existence of a coastal current off Madagascar. The newly-described current, the South-West Madagascar Coastal Current, flows poleward off the south-west coast of Madagascar. 

Urban soccer sculpture wins PPC Imaginarium Awards

By: Marleny Arnoldi     9th April 2018 Upcoming young artist Chris Soal was announced as the overall winner of cement supplier PPC’s Imaginarium Awards 2018.  

Urban soccer sculpture wins PPC Imaginarium Awards
Chris Soal's sculpture titled Imposed Structure to the Detriment of the Members

Mathe Group expands tyre recycling facility, despite Redisa demise

By: Irma Venter     9th April 2018 The Mathe Group’s Hammarsdale plant, in KwaZulu-Natal, has quadrupled employment and more than doubled output since coming on stream in 2016, says the tyre recycler. Dr Mehran Zarrebini, head of British investment group PFE International, which is one of the major shareholders in the Mathe Group,... 

Mathe Group expands tyre recycling facility, despite Redisa demise

ATNS offers air traffic management bursaries to matriculants

By: Marleny Arnoldi     9th April 2018 Air Traffic and Navigation Services (ATNS) is offering bursaries to individuals who have completed their matric studies, to study towards a career in air traffic management.  

Day hospital opens at Atterbury’s The Club precinct

By: Simone Liedtke     9th April 2018 South African property investor and developer Atterbury’s landmark new development The Club, in Pretoria, now includes the fully operational Club Surgical Centre. Club Surgical Centre, a state-of-the-art day hospital that offers cutting-edge treatment in skin cancer, cosmetic, ear-nose-and-throat... 

Day hospital opens at Atterbury’s The Club precinct
South African property investor and developer Atterbury’s landmark new development The Club, in Pretoria, now includes the fully operational Club Surgical Centre

Rand spikes on Nene comments, renewed trade war fears

By: News24Wire      9th April 2018 The rand's weakening of over 1% to the US dollar just after noon on Monday has economists puzzled. At least one analyst attributed the spike to a knee-jerk reaction to comments made by Finance Minister Nhlanhla Nene on Monday morning. 

 Rand spikes on Nene comments, renewed trade war fears

Grit pursues LSE listing

By: Anine Kilian     9th April 2018 Grit Real Estate, which is listed on the JSE and on the Stock Exchange of Mauritius (SEM), is seeking a listing on the LSE. The company, which focuses on real estate in select African countries, intends to maintain primary listings on the JSE and LSE, while moving its SEM listing to a secondary... 

Impairments push Lafarge Africa to 2017 loss, shares fall

By: Reuters     9th April 2018 Lafarge Africa has taken a one-off impairment in Nigeria and South Africa totalling around 33-billion naira ($105-million), widening its loss before tax for 2017 from a year earlier and sending its shares tumbling. Bruno Bayet, CFO, told Reuters the impairments accounted for bulk of the loss,... 

Global IT spending to grow to $3.7tr in 2018 amid new growth cycle – Gartner

By: Schalk Burger     9th April 2018 The total global spend on information technology (IT) is projected to rise by 6.2% to $3.7-trillion this year, indicating a new growth cycle, a forecast released by market research multinational Gartner, on Monday, reveals. “This is the highest annual growth rate that Gartner has forecast since... 

Environmental Affairs Committee welcomes signing of IPP contracts

By: Simone Liedtke     9th April 2018 The Portfolio Committee on Environmental Affairs on Monday welcomed the signing, last week, of 27 contracts by Energy Minister Jeff Radebe with independent power producers (IPPs). This, the committee averred, indicates South Africa’s commitment to reducing its greenhouse-gas (GHG) emissions... 

South Africa may ask pharma firms for fee to clear drug review backlog

By: Reuters     9th April 2018 Drugmakers in Africa's largest pharmaceutical market may be asked to pay a "backlog fee" to help clear a pipeline of medicines waiting years for approval, according to a proposal being considered by South Africa's new industry regulator. Delays for hundreds of medicines have kept the latest... 

Trade union to seek to put SAA into business rescue

By: Rebecca Campbell     9th April 2018 Trade union Solidarity announced on Sunday that it was to start court proceedings to place State-owned and financially very troubled national carrier South African Airways (SAA) under business rescue. In an open letter to President Cyril Ramaphosa, Finance Minister Nhlanhla Nene and Public... 

Trade union to seek to put SAA into business rescue

Libstar targets growth with planned JSE listing

By: Simone Liedtke     9th April 2018 Consumer packaged goods producer and supplier Libstar intends to list its issued ordinary share capital on the main board of the JSE. The directors of the company believe the listing is the next step in Libstar’s growth phase and will provide access to additional capital to expand capacity and... 

Why April rainfall is key to stave off Cape Town's Day Zero

By: News24Wire      9th April 2018 In three weeks’ time experts will be able to say with some certainty whether Cape Town is likely to get enough rain this year to avoid a Day Zero scenario in 2019. After three dry years and months of severe water restrictions, everyone in the drought-stricken area wants to know whether we will... 

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