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Latest News

Morocco, Nigeria agree on next steps for offshore/onshore gas pipeline

By: Reuters     11th June 2018 Morocco and Nigeria on Sunday signed a joint declaration in Rabat laying out the next steps for the completion of a gas pipeline deal that will be built onshore and offshore, Moroccan state news agency MAP said. The two countries agreed to the pipeline in December 2016 and launched feasibility... 

Egypt, Ethiopia agree to settle differences over Nile mega-dam

By: Reuters     11th June 2018 The leaders of Ethiopia and Egypt vowed on Sunday to iron out their differences over a dam Addis Ababa is building on the Nile River that Cairo fears threatens its water supplies. Talks over the Grand Renaissance Dam, Ethiopia's $4-billion hydroelectric project, have been deadlocked for months.... 

South African Airways' catering unit plans to cut 118 jobs – union

By: Reuters     11th June 2018 South African Airways' (SAA) catering arm plans to lay off 118 workers, the National Union of Metalworkers of South Africa (Numsa) said, as the struggling airline implements a turnaround strategy to restore profitability. Numsa said it had received notice of the layoffs from the catering arm,... 

Botswana cancels plans to sell troubled power plant to Chinese firm

By: Reuters     11th June 2018 Botswana has scrapped talks to sell a power station plagued by technical problems to a state-owned Chinese company linked to the plant's builder, an official document seen by Reuters showed. The 600 MW coal-fired Morupule B plant, which was commissioned in 2012 and built by China National... 

Vodacom embarks on new R17.5bn BEE deal 

By: Natasha Odendaal     11th June 2018 Telecommunications giant Vodacom has initiated a R17.5-billion deal that will increase its effective black economic empowerment (BEE) ownership to about 20% and provide exposure to Vodacom's local and international operations. The transaction will see existing BEE partners YeboYethu exchange... 

Vodacom embarks on new R17.5bn BEE deal
Photo by Creamer Media
Vodacom CEO Shameel Joosub

Ramaphosa hails successful G7 leaders summit

By: African News Agency      11th June 2018 President Cyril Ramaphosa has welcomed the interest shown in South Africa by the global business community at the just concluded G7 Leaders’ Outreach Summit in Quebec City in Canada. In a statement, the Presidency said Ramaphosa welcomed the interest in South Africa as an investment destination... 

Ramaphosa hails successful G7 leaders summit
President Cyril Ramaphosa

Cabinet approves designation of Atlantis SEZ

By: Creamer Media Reporter      8th June 2018 Cabinet has approved the decision by Trade and Industry Minister Dr Rob Davies to designate the Atlantis Special Economic Zone (SEZ), in Atlantis industrial area, outside Cape Town. The designation of the Atlantis SEZ follows that of the Saldanha Bay Industrial Development Zone and is intended to... 

First African tetrapods discovered in South Africa

By: Anine Kilian     8th June 2018 Science and Technology Minister Mmamoloko Kubayi-Ngubane, together with South African palaeontologist Dr Rob Gess, on Friday announced the discovery of the first African fossils of Devonian tetrapods, or four-legged vertebrates. The two new species, named Tutusius umlambo, after Archbishop... 

First African tetrapods discovered in South Africa
Photo by Dylan Slater
Tetrapod fossil

China stresses importance to Africa of attracting foreign investment

By: Rebecca Campbell     8th June 2018 "Foreign investment can be a very practical, convenient and viable way for industrialisation," stressed Ambassador Zhou Yuxiao, Beijing's emissary to the Forum on China-Africa Cooperation (FOCAC), at the Africa Institute of South Africa-Human Sciences Research Council/Embassy of the People's... 

GDP shock will lead to revision of optimistic growth predictions – Nene

By: News24Wire      8th June 2018 The shock contraction of gross domestic product (GDP) in the first quarter will mean a downward revision of optimistic predictions for growth in 2018, Finance Minister Nhlanhla Nene has said. Nene on Friday addressed the Directors Event, a conference attended by some 300 business leaders in... 

 GDP shock will lead to revision of optimistic growth predictions – Nene
Photo by Reuters
Finance Minister Nhlanhla Nene

Energy discussion must be resolved soonest to spur economic transformation – Dr Yves Guenon

By: Nadine James     8th June 2018 Certainty, particularly around South Africa’s future baseload energy supply must be achieved in the Integrated Resource Plan (IRP), in order to ensure supply security, which will, in turn, stimulate investment and economic transformation, Izibani consultancy founder and French South African... 

Eskom’s application to have tariff decision set aside increases uncertainty – EIUG  

By: Nadine James     8th June 2018 The Energy Intensive User Group (EIUG) has expressed concern that power utility Eskom’s decision to approach the courts to have the National Energy Regulator of South Africa’s (Nersa’s) tariff determination for 2018/19 set aside will increase uncertainty regarding electricity prices. This will... 

China supports African industrialisation – Ambassador 

By: Rebecca Campbell     8th June 2018 Industrialisation is necessary for Africa to achieve sustainable development. "Only by realising sustainable development could Africa escape foreign interference." These points were made by Chinese Ambassador to South Africa Lin Songtian at the Africa Institute of South Africa-Human Sciences... 

DEA, Unido to host roadshow on HFC phase-out

By: Marleny Arnoldi     8th June 2018 The Department of Environmental Affairs (DEA) will collaborate with the United Nations Industrial Development Organisation (Unido) to host a roadshow with the aim of engaging stakeholders about the Hydrofluorocarbons Phase-Out Management Plan (HPMP) for South Africa.  

SAA adds six flights a week to Johannesburg–East London route

By: Marleny Arnoldi     8th June 2018 State-owned South African Airways (SAA) has added additional flights to the Eastern Cape to cater for business travelers between East London and Johannesburg.  

SAA adds six flights a week to Johannesburg–East London route

ATON bemoans M&R’s Competition Tribunal application

By: Marleny Arnoldi     8th June 2018 German investment company ATON says JSE-listed Murray & Roberts (M&R) has initiated another ‘frustrating action’ against its offer to acquire all shares in M&R, by trying to prevent ATON from exercising its full rights and voting against M&R’s proposed combination with construction giant Aveng.  

Court order delays implementation of new end-user regulations

By: Natasha Odendaal     8th June 2018 Mobile operator Cell C has succeeded in its court bid to postpone the Independent Communications Authority of South Africa’s (Icasa’s) stipulated deadline for the implementation of the end-user and subscriber services charter regulations. The High Court on Thursday granted the urgent interdict to... 

Radebe hosts stakeholder forum; Eskom takes Nersa decision to court 

8th June 2018 Creamer Media's Chanel de Bruyn speaks to Engineering News Editor Terence Creamer about the latest developments on the energy policy front, as well as Eskom’s turnaround. 

Radebe hosts stakeholder forum; Eskom takes Nersa decision to court
Terence Creamer on the latest energy developments and Eskom's turnaround. (Camera & editing: Nicholas Boyd)

Good corporate citizenship in a post-State-capture South Africa 

By: Kim Cloete     8th June 2018 A string of corporate governance failures and climate change challenges have cranked up the pressure on companies to become better corporate citizens and take care of the environment they are operating in. The renewed emphasis on governance and sustainability is not limited to the private sector,... 

Good corporate citizenship in a post-State-capture South Africa

Petco confident in South Africa’s PET recycling resilience

By: Marleny Arnoldi     7th June 2018 Polyethylene terephthalate (PET) recycling company Petco describes 2017 as one of the most challenging years for the company, with a 13% year-on-year consumption decline in the local PET market.  

Petco confident in South Africa’s PET recycling resilience
Photo by Marleny Arnoldi
Petco chairperson Dr Casper Durandt speaks at the Petco AGM

Basil Read enters new avenue with Savanna City residential development

By: Simone Liedtke     7th June 2018 As part of its turnaround strategy, construction group Basil Read on Thursday launched Basil Read Homes with the first of its 44 residential units on a land parcel at Savanna City, south of Johannesburg, which will, upon completion, boast about 18 399 integrated housing units. “This launch is a... 

Basil Read enters new avenue with Savanna City residential development

April manufacturing output up 1.1% Y/Y

By: Reuters     7th June 2018 South Africa's manufacturing output expanded by 1.1% year-on-year in April following a revised 1.6% contraction in March, the statistics agency said on Thursday. Statistics South Africa said factory production on a month-on-month basis shrunk 0.6% in April, decreased by 3% in the three months to... 

Reinstatement of Eskom system reports seen as way to rebuild trust through transparency

By: Terence Creamer     7th June 2018 State-owned electricity producer Eskom has re-launched its weekly system status report as part of broader efforts to rebuild trust with South African citizens, who remain skeptical about the utility’s ability to keep the lights on. The service, which is now available on Eskom’s website, was... 

Reinstatement of Eskom system reports seen as way to rebuild trust through transparency
Photo by Dylan Slater
Eskom system operator Bernard Magoro

Workers call for total shutdown of Eskom amid wage negotiations deadlock 

By: African News Agency      7th June 2018 The National Union of Mineworkers (NUM) on Thursday called for a total shutdown of South African state-owned power utility, Eskom, following another collapse in wage negotiations.  Eskom workers are demanding a 15% wage increase across the board in a one-year agreement, 80:20 percent contribution... 

Eskom must diversify its energy mix – MacColl  

By: Nadine James     7th June 2018 State-owned power utility Eskom should diversify its energy mix, Electric Power Research Institute senior regional manager Barry MacColl said during a panel discussion on South Africa’s energy policy, and specifically the Integrated Resource Plan (IRP). The panel, held on Thursday at the Mazars... 

ATON reiterates its view on M&R’s proposed acquisition of Aveng

By: Anine Kilian     7th June 2018 Investment company ATON, which has made a mandatory offer to buy all the shares in Murray & Roberts (M&R) it does not already own, has once again reiterated it opposition to M&R’s proposed acquisition of Aveng. The company said in a statement on Thursday that the potential Aveng transaction... 

No let up on calls for flow-through model to boost exploration

By: Martin Creamer     7th June 2018 The failure to raise risk capital for greenfields exploration in South Africa was highlighted at this week’s Junior Indaba, where there was no let up on calls for the adoption of a proven Canada-type flow-through share scheme, and ongoing criticism of the unintended consequences of South Africa’s... 

No let up on calls for flow-through model to boost exploration
Photo by Wynand van der Merwe
JSE business development manager Patrycja Kula-Verster

Eskom to approach courts to have Nersa’s 5.23% tariff decision set aside 

By: Terence Creamer     7th June 2018 State-owned electricity utility Eskom will, in the coming days, approach the courts to have the National Energy Regulator of South Africa’s (Nersa’s) tariff determination for 2018/19 set aside, chairperson Jabu Mabuza confirmed on Thursday. The action would represent Eskom’s first-ever legal... 

Eskom to approach courts to have Nersa’s 5.23% tariff decision set aside
Public Enterprises Minister Pravin Gordhan on Eskom's restructuring, 'Gupta-risation' of coal and improving primary-energy security and costs. Camera Work & Editing: Nicholas Boyd: Recorded: 7.6.2018

Icasa steps closer to priority markets review

By: Natasha Odendaal     7th June 2018 The Independent Communications Authority of South Africa (Icasa) has taken its next step in pursuing a priority markets review to identify markets for a regulatory review that could lead to lower communications costs. Icasa on Thursday embarked on public hearings on the discussion document on... 

SAA chief executive dismisses calls for business rescue

By: African News Agency      7th June 2018 South African Airways (SAA) chief executive Vuyani Jarana on Thursday ruled out the possibility of the airline being placed under business rescue. "We believe we are already executing a recovery plan. We don't believe the plan [from business rescue practitioners] is going to be significantly... 

Public sector wage deal inches closer as more unions sign

By: News24Wire      7th June 2018 The public sector wage agreement is close to being a done deal, with 48% of workers represented by trade unions at the Public Service Coordinating Bargaining Council (PSCBC) supporting the offer. A majority of 50%+1 employee agreement is required to implement the deal. 

 Public sector wage deal inches closer as more unions sign

MeerLICHT launch signals world’s first optical/radio telescope collaboration 

7th June 2018 The South African Astronomical Observatory and the Department of Science and Technology last month launched the MeerLICHT optical telescope at the Observatory site in Sutherland, which will be ‘the eye’ of the MeerKAT radio telescope. Marleny Arnoldi tells us more. 

MeerLICHT launch signals world’s first optical/radio telescope collaboration
MeerLICHT launch signals world’s first optical/radio telescope collaboration

City of Cape Town to spend R2.1bn on housing 

By: African News Agency      7th June 2018 The City of Cape Town on Thursday said its Transport and Urban Development Authority (TDA) will spend R2.1-billion on the development of new housing opportunities. This comes after the TDA budget for the next financial year, starting on 1 July 2018, was set at R5.34-billion. 

Siemens CEO urges more countries to participate in China’s Belt and Road Initiative

By: Zandile Mavuso     7th June 2018 China’s Belt and Road Initiative (BRI) represents a “new world trade order”, says Siemens global president and CEO Joe Kaeser. In a keynote address at the first Belt and Road International Summit, in Beijing, China, this week, he urged more countries to get actively involved in the BRI. 

Busa attending G7 Summit with Ramaphosa

By: Anine Kilian     7th June 2018 Business Unity South Africa (Busa) is part of the South African delegation, led by President Cyril Ramaphosa and the Department of Trade and Industry, attending the Group of Seven (G7) Summit, in Canada.   

Treasury hits back after EFF attack on Momoniat

By: Sashnee Moodley     7th June 2018 National Treasury on Thursday came to the defence of its deputy director-general Ismail Momoniat following what it called “vitriolic utterances” by the Economic Freedom Fighters (EFF). Earlier this week EFF deputy president Floyd Shivambu accused Momoniat of being corrupt, undermining black... 

Treasury hits back after EFF attack on Momoniat
Treasury deputy director-general Ismail Momoniat

Tanzania charges telecoms executives with fraud in tax evasion crackdown

By: Reuters     7th June 2018 Tanzanian prosecutors on Wednesday charged two chief executives of mobile phone companies and four other suspects with fraud as part of a crackdown against tax evasion in the East African nation. The executives charged were Le Van Dai, 35, managing director of Halotel Tanzania, owned by... 

Tribunal confirms R40m settlement agreement with Cape Gate

By: Simone Liedtke     7th June 2018 The Competition Tribunal has confirmed a R40-million settlement agreement with wire and steel manufacturer Cape Gate, following the company’s admission of price fixing, dividing markets and collusive tendering in respect of lightly galvanised wire, nails, wire and various wire products. The... 

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