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Latest News

EPP closes the first tranche of the M1 portfolio acquisition

By: Anine Kilian     9th January 2018 Property development company Echo Polska Properties (EPP) has closed the €358.7-million first tranche of its acquisition of the Poland-based M1 portfolio. The company in December announced that it would acquire the portfolio, which comprises 12 shopping centres and retail parks, for €692-million. 

Two trains collide in Germiston, hundreds injured

By: African News Agency      9th January 2018 Metrorail said on Tuesday that it would launch an investigation into the cause of the accident that left more than 200 people injured when two passenger trains collided at Geldenhuis Station in Germiston, east of Johannesburg. Metrorail spokesperson Lillian Mofokeng said that one passenger train... 

ACWA Power reaches financial close on Egypt solar PV projects

By: Anine Kilian     9th January 2018 Saudi Arabian group ACWA Power has reached financial close on three solar photovoltaic (PV) projects, in Egypt. The projects, which are located in the southern Aswan province, are being developed under Round 2 of Egypt’s Feed-in-Tariff programme and are subject to 25-year power purchase agreements. 

Drought conditions hit South African maize belt – industry group

By: Reuters     9th January 2018 The western part of South Africa's maize belt has been hit by drought and farmers there have only planted 70 to 75% of the area they had intended to, industry group Grain SA said on Monday. With the window of planting opportunity fast closing, the unexpected onset of dry conditions in the key... 

Drought conditions hit South African maize belt – industry group

Fifteen still missing after Free State train crash 

By: African News Agency      8th January 2018 Nineteen people have been confirmed dead in the horror Free State train crash but the death toll could rise even further after officials on Monday revealed that as many as 15 more people are still unaccounted for. Daisy Daniel, spokesperson for the Shosholoza Meyl passenger train, said 15 people... 

Jaguar Land Rover to decide whether to build electric cars in UK in 2018

By: Reuters     8th January 2018 Britain's biggest carmaker Jaguar Land Rover will have to decide in the next 12 months whether to build electric cars in its home market, its director of sales Andy Goss said on Monday. Its first electric model, the I-PACE, will be built in Austria. 

Personal devices soon to become more intuitive, Gartner predicts

By: Creamer Media Reporter      8th January 2018 As artificial intelligence (AI) development continues on a path of exponential growth, a new research report by Gartner indicates that, by 2022, personal devices will know more about an individual's emotional state “than his or her own family”. The ‘Predicts 2018: personal devices’ report notes... 

South Africa, China celebrate 20 years of diplomatic relations

By: Anine Kilian     8th January 2018 South Africa and China this month celebrate 20 years of formal diplomatic relations. The countries have signed a significant number of bilateral cooperation agreements in areas including trade, investment, economic and people-to-people relations over that period.    The Department of... 

South Africa, China celebrate 20 years of diplomatic relations
Photo by Reuters
Xi Jinping & Jacob Zuma

Construction industry making progress with deals to transform the sector

By: Megan van Wyngaardt     8th January 2018 In a move that will see local construction companies further honour their agreements with government to ensure  inclusivity for black contractors in the South African construction sector, the Competition Commission has recommended a number of merger deals to the Competition Tribunal for approval.... 

Construction industry making progress with deals to transform the sector

Next 12 months crucial as PRASA prepares to receive new rolling stock

By: Irma Venter     8th January 2018 Commuters making use of the 18 new X’Ttrapolis Mega commuter trains, supplied by Gibela to the Passenger Rail Agency of South Africa (PRASA) are “extremely happy” with the new rolling stock, says PRASA strategic asset development group executive Piet Sebola. The Gibela Rail Transport Consortium... 

Next 12 months crucial as PRASA prepares to receive new rolling stock
Photo by Duane Daws
Piet Sebola

Ramaphosa calls for unity as rift over Zuma widens 

By: Reuters     8th January 2018 The new leader of South Africa's African National Congress (ANC) Cyril Ramaphosa called for unity on Monday as factions within the party become increasingly divided over the future of President Jacob Zuma. There is widespread speculation that Ramaphosa and his allies are lobbying ANC members to... 

Ramaphosa calls for unity as rift over Zuma widens
ANC president Cyril Ramaphosa

Kimberley’s diamond endowment given new sparkle 

By: Martin Creamer     8th January 2018 Generations of diamond processing experience, interwoven with modern know-how, is extending the diamond endowment of the city of Kimberley. Kimberley Ekapa Mining Joint Venture (KEM-JV) has come up with a viable business model that returns a diamond sparkle to the city renowned for its... 

Kimberley’s diamond endowment given new sparkle
KEM-JV CEO Jahn Hohne

Labour dept urges 2017 EE report filings as deadline looms

By: Creamer Media Reporter      8th January 2018 With the impending January 15 deadline looming, the Department of Labour (DoL) on Monday urged employers to file their employment equity (EE) online reports. The 2017 EE online and manual reporting season opened on September 1, and while the manual reporting submissions closed on October 1,... 

City of Johannesburg to run citywide revenue collection blitz

By: African News Agency      8th January 2018 Johannesburg mayor Herman Mashaba will on Monday take part in a citywide revenue collection blitz to collect just under R1-billion in arrears amounts from over 2000 businesses which have failed to pay for city services, the city said. Mashaba would be joined by the Johannesburg Metro Police... 

Parliament to review rules on removing President

By: Reuters     8th January 2018 South Africa’s parliament said on Sunday it would review its rules relating to removing the country's president, after the constitutional court ruled on December 29 that lawmakers had previously failed to hold President Jacob Zuma to account. A parliamentary subcommittee will meet this week to... 

Parliament to review rules on removing President
Photo by Reuters
President Jacob Zuma

Business Leadership SA slams executives’ reinstatement at Eskom

By: African News Agency      5th January 2018 Business Leadership South Africa (BLSA) has slammed the reappointment of Matshela Koko and Prish Govender at power utility Eskom, saying this flew in the face of complying with the rule of law and undermined efforts to restore confidence in the economy. BLSA said it was shocked and dismayed that... 

Business Leadership SA slams executives’ reinstatement at Eskom
Photo by Duane Daws
BLSA chief executive Bonang Mohale

NUM welcomes Koko’s reinstatement at Eskom, but concerned about corruption

By: African News Agency      5th January 2018 The National Union of Mineworkers (NUM) said on Friday that it welcomes the reinstatement of Matshela Koko as group executive of power generation at Eskom, but called for a full investigation into allegations of corruption at the power utility. Eskom confirmed on Wednesday that Koko would be... 

NUM welcomes Koko’s reinstatement at Eskom, but concerned about corruption

SA Parliamentary committee anguished over deadly train crash

By: African News Agency      5th January 2018 Parliament’s Portfolio Committee on Transport has described Thursday’s train accident in the Free State in which at least 18 people died as “anguish beyond measure”. In a statement, the committee sent its condolences to the families whose relatives were involved in a train crash that took place... 

SA Parliamentary committee anguished over deadly train crash
Photo by Earl Ryan September on Facebook
Shosolosa Meyl accident

SA ruling party lauds exam results, but opposition, unions not impressed

By: African News Agency      5th January 2018 South Africa’s governing ANC on Friday applauded a higher pass rate from the 2017 school ending examinations, but opposition said the results were much weaker when factoring in a worryingly high dropout rate. The African National Congress said the National Senior Certificate examination results... 

SA ruling party lauds exam results, but opposition, unions not impressed

UAE to resume flights to Tunis, ending row over ban on women

By: Reuters     5th January 2018 The United Arab Emirates said on Thursday it would resume flights to Tunisia after an exchange of security information, resolving a row over a ban on female Tunisian passengers. A statement by the foreign ministry on state news agency WAM said the decision was taken in light of extensive... 

UAE to resume flights to Tunis, ending row over ban on women

Steinhoff CFO steps down as crisis-hit retailer shuffles top team

By: Reuters     5th January 2018 Steinhoff's finance chief stepped down from the role on Thursday to focus on helping the South African retailer plug a €2.4-billion euro ($2.9-billion) hole in its finances after an accounting scandal. The owner of more than 40 multinational retail brands including Conforama, Mattress Firm and... 

Steinhoff CFO steps down as crisis-hit retailer shuffles top team

UK new car sales record biggest drop since 2009

By: Reuters     5th January 2018 British new car sales recorded their biggest drop since 2009 last year, falling by more than 5% due to uncertainty over potential new diesel charges and weakening consumer confidence since Brexit, an industry body said on Friday. Registrations ended 2017 at around 2.54-million vehicles,... 

UK new car sales record biggest drop since 2009

South Africa's private-sector activity slows to 20-month low in December

By: Reuters     4th January 2018 South African private-sector economic activity contracted for a fifth consecutive month in December as factory output and new orders fell, a survey showed on Thursday. The Standard Bank Purchasing Managers' Index (PMI), compiled by IHS Markit, fell to 48.4 in December from 48.8 in November,... 

South Africa's private-sector activity slows to 20-month low in December

Death toll in South Africa train crash rises to 14 – train service official

By: Reuters     4th January 2018 The death toll in a train crash in South Africa's Free State province on Thursday has risen to at least 14, a train service official said. "It is not yet confirmed but the death toll for now is sitting at 14," said Daisy Daniel, spokesperson for long haul passenger rail service Shosholoza Meyl. 

Death toll in South Africa train crash rises to 14 – train service official
Photo by Earl Ryan September on Facebook
Shosolosa Meyl accident Jan 2018

Zuma free education promise could strain budget, fan protests

By: Reuters     4th January 2018 President Jacob Zuma stirred a hornet’s nest with his sudden pronouncement of free higher education for the poor last month, raising fears of chaos at universities now facing a barrage of applications from thousands of hopeful students who have just finished high school. The South African... 

Zuma free education promise could strain budget, fan protests

Free tertiary education in SA will be phased in, says higher education minister

By: African News Agency      4th January 2018 South African Higher Education Minister Hlengiwe Mkhize said on Wednesday that free tertiary education will not be implemented immediately, but rather be part of a new system to be phased in over the next five years. Mkhize was briefing the media on the registration process at tertiary... 

Free tertiary education in SA will be phased in, says higher education minister
Photo by Duane Daws
Higher Education Minister Hlengiwe Mkhize

We have not crossed the Rubicon – Motshekga

By: African News Agency      4th January 2018 Basic Education Minister Angie Motshekga has conceded that more still needs to be done to improve the level of education in South Africa despite a number of gains in the last few years. This comes as Motshekga announced that the National Senior Certificate (NSC) Examination pass rate in 2017,... 

We have not crossed the Rubicon – Motshekga
Photo by Government-ZA
Basic Education Minister Angie Motshekga

China's steel futures fall as snow to curtail construction demand

By: Reuters     4th January 2018 China's steel rebar futures fell on Thursday, breaking a three-day rising streak, on concerns of waning demand in the construction sector because of snow forecasts in the northern part of the country. Cold weather is expected to hit regions across China in the coming week, bringing snow and rain... 

China's steel futures fall as snow to curtail construction demand

South Africa's rand resumes rally as bears buy short

By: Reuters     3rd January 2018 South Africa's rand gained more than one% on Wednesday, reversing losses from earlier in the session to trade at a three-day high as investors betting on a dollar recovery bought the local currency cheap. At 15:00 GMT the rand was 0.86% firmer at 12.36 per dollar. 

South Africa's rand resumes rally as bears buy short

Nelson Mandela Bay water crisis deepens 

By: African News Agency      3rd January 2018 Dam levels in Nelson Mandela Bay which supply drinking water are at an all-time low of 26.94%. The City’s Member of the Mayoral Committee for Infrastructure and Engineering, Councillor Masixole Zinto, said the recorded levels were the “lowest ever”, as compared to 31% that was recorded in 2010. 

Nelson Mandela Bay water crisis deepens

IEB achieves 98.76% matric pass rate

By: African News Agency      3rd January 2018 The Independent Examination Board (IEB) has announced an increase in the pass rate in last year’s National Senior Certificate (NSC) matric examinations to 98.76%, from 98.67% in 2016. There were 11 464 full-time and 666 part-time candidates across South Africa. This is also an increase from 2016... 

IEB achieves 98.76% matric pass rate

Will intra-Africa trade come of age in 2018?

By: African News Agency      3rd January 2018 Overcoming the barriers for intra-African trade to double in a decade can feel like a Sisyphean task – impossible to complete. But that is the objective of the Boosting Intra-African Trade (BIAT) action plan, which targets to double flows between January 2012 and January 2022. Many individual... 

Will intra-Africa trade come of age in 2018?

Eskom reinstates embattled executives Matshela Koko and Prish Govender

By: African News Agency      3rd January 2018 South African power utility, Eskom confirmed on Wednesday that former acting chief executive Matshela Koko and former acting group executive for group capital, Prish Govender, have been reinstated after they were cleared in disciplinary hearings. Eskom spokesperson, Khulu Phasiwe, said that the... 

Eskom reinstates embattled executives Matshela Koko and Prish Govender

UDM wants more details on free higher education in SA

By: African News Agency      2nd January 2018 United Democratic Movement (UDM) leader Bantu Holomisa on Tuesday urged South Africa’s President Jacob Zuma to provide full details on funding of free higher education in order to avoid a crisis at the country’s universities and colleges. “President Zuma and his cabinet must urgently spell out... 

UDM wants more details on free higher education in SA

PAC welcomes proposed land expropriation without compensation

By: African News Agency      2nd January 2018 The Pan Africanist Congress (PAC) has welcomed the recent proposal by the ruling African National Congress (ANC) to expropriate land without compensation, saying that it had always held the belief that land reform in South Africa should not involve the exchange of money. At its 54th national... 

PAC welcomes proposed land expropriation without compensation

Steinhoff says will have to restate 2015 financial statements

By: African News Agency      2nd January 2018 Beleaguered retailing group Steinhoff International Holdings said on Tuesday its 2015 financial statements, in addition to the 2016 accounts, could no longer be relied upon. In a statement, Steinhoff, which was engulfed by an accounting scandal last month, leading to the resignation of CEO... 

Steinhoff says will have to restate 2015 financial statements

Fuel prices to drop in January

By: African News Agency      2nd January 2018 The price of fuel products will drop with effect from midnight on Tuesday, according to the energy department. Petrol 93 octane ULP (unleaded) and LRP (lead replacement) will drop by 29 cents a litre (c/ℓ), petrol 95 ULP and LRP by 34 c/ℓ, diesel 0.05 percent sulphur by 22 c/ℓ, and diesel 0.005... 

Fuel prices to drop in January

Improving quality of life remains key priority, says Zuma

By: African News Agency      2nd January 2018 Improving the quality of life of the South African people, especially the poor and the working class, remains a key priority of government, President Jacob Zuma said on Sunday. “Significant strides” were made in 2017 in fighting poverty, inequality, and unemployment, he said in his new year’s... 

Improving quality of life remains key priority, says Zuma

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