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Latest News

Aveng to sell rail business to Mathupha Capital for R133m

By: Terence Creamer     3rd October 2018 JSE-listed infrastructure group Aveng announced on Wednesday that it would sell its rail business to black-owned investment company Mathupha Capital for R133-million. The proposed transaction is subject to several conditions, including Competition Commission approval, but it is nevertheless... 

I will testify to Zondo if I'm called – Ramaphosa

By: News24Wire      3rd October 2018 President Cyril Ramaphosa has said that he is prepared to appear before Deputy Chief Justice Raymond Zondo's judicial inquiry in to State Capture should he be asked to do so. Ramaphosa was replying to a question in Parliament. 

 I will testify to Zondo if I'm called – Ramaphosa
President Cyril Ramaphosa

Jaguar I-Pace EV drives from JHB to Durban on two charges 

By: Irma Venter     3rd October 2018 Jaguar has successfully completed the long-distance journey between Johannesburg and Durban in its all-electric I-Pace, using the recently announced Powerway network to charge the vehicle. The pre-production Jaguar I-Pace, in South Africa for testing and homologation purposes, began its trip with... 

Prinsloo to head Redefine's new Europe division

By: Creamer Media Reporter      3rd October 2018 JSE-listed real estate investment trust Redefine Properties has appointed Hyprop Investments CEO Pieter Prinsloo to head up Redefine Europe, effective February 1, 2019.   “The new role was necessitated as Redefine advances its geographic diversification strategy through direct investment in... 

Zuma sacked me for rejecting Gupta deals – Nene

By: Reuters     3rd October 2018 Finance Minister Nhlanhla Nene said on Wednesday he was fired by former president Jacob Zuma for refusing to approve contracts that would financially benefit the Gupta family, friends of Zuma accused of corruption. Nene, who was giving testimony at a judicial inquiry into influence-peddling, said... 

Zuma sacked me for rejecting Gupta deals – Nene
Finance Minister Nhlanhla Nene

Nene met Guptas, refused Russia nuke deal

By: Bloomberg     3rd October 2018 Finance Minister Nhlanhla Nene said he met repeatedly with members of the Gupta family, who have been implicated in a corruption scandal related to former President Jacob Zuma and separately was twice pressured to sign a multi-billion Russian nuclear-power deal by former Energy Minister Tina... 

Mantashe calls for marketing of platinum

By: Martin Creamer     3rd October 2018 A platinum Mandela coin should be minted and marketed and platinum-catalysed fuel cells used to power off-grid areas, Mineral Resources Minister Gwede Mantashe said on Wednesday. In his opening speech to the well-attended Joburg Indaba, Mantashe, who is seven months into the job, said he had... 

Mantashe calls for marketing of platinum
Photo by Dylan Slater
Mineral Resources Minister Gwede Mantashe (left) with Mining Weekly Online’s Martin Creamer at the Joburg Indaba.

Mazda to deploy electrification in all of its production vehicles by 2030

By: Irma Venter     3rd October 2018 Mazda will deploy some form of electrification in all of its production vehicles by 2030. The Japanese car maker expects internal combustion engines, combined with some form of electrification, such as plug-in hybrids, to account for 95% of the vehicles it produces by 2030, and battery electric... 

 Mazda to deploy electrification in all of its production vehicles by 2030

KPMG South Africa to replace CEO after corruption scandal

By: Reuters     3rd October 2018 KPMG South Africa said on Wednesday that Chief Executive Nhlamulo Dlomu will step down to allow a new leader to restore the auditor's reputation after a corruption scandal that saw the company lose several major clients. The new CEO will be recruited externally, it said. 

South Africa's private-sector activity remains weak amid recession

By: Reuters     3rd October 2018 South African private sector activity remained weak in September as output, new orders and employment fell after the economy fell into recession, a survey showed on Wednesday. The Standard Bank Purchasing Managers' Index (PMI), compiled by IHS Markit, rose to 48 in September from 47.2 in August,... 

Coal-fired IPP projects in the firing line 

3rd October 2018 Creamer Media's Chanel de Bruyn speaks to Engineering News Editor Terence Creamer about the pressure that is mounting on government to withdraw from two private coal-fired power stations projects. 

Coal-fired IPP projects in the firing line
Coal-fired IPP projects in the firing line

SARB says don't underplay risk of CPI passing 6%

By: Bloomberg     3rd October 2018 The risk that South African inflation will overshoot the 6% upper limit of the Reserve Bank’s target should not be underestimated given the volatile global environment, Deputy Governor Daniel Mminele said. An extended and sizable deviation in price growth from 4.5% “would raise the risks of... 

SARB says don't underplay risk of CPI passing 6%
Photo by Bloomberg
Reserve Bank deputy governor Daniel Mminele

Eskom to recoup R32.7bn RCA balance over four years

By: Terence Creamer     2nd October 2018 The National Energy Regulator of South Africa (Nersa) announced on Tuesday that Eskom would be allowed recover the R32.7-billion already approved as part of its adjudication of three separate Regulatory Clearing Account (RCA) applications over a four-year period, beginning in the 2019/20... 

Eskom to recoup R32.7bn RCA balance over four years
Photo by Dylan Slater
Nersa regulators at RCA hearings in May

Illovo Central development set for Jan 2020 completion

By: Marleny Arnoldi     2nd October 2018 Construction company Concor Buildings has been awarded a contract for the construction of Illovo Central – a 17-storey mixed-use development near Sandton that is due for completion in January 2020. This is the second of four planned mixed-use buildings planned for the Illovo precinct that is... 

Illovo Central development set for Jan 2020 completion
Illovo Central, to be constructed by Concor Buildings

Transnet lining up to be a global player by 2020, Gama tells delegates

By: African News Agency      2nd October 2018 Embattled Transnet chief executive Siyabonga Gama on Tuesday told delegates at a transport and logistics conference in Durban that the parastatal is aiming to be a multi-billion rand player in the global logistics game by 2020. “We aim to grow Transnet to a R100-billion business by 2020 and a top... 

Tullow Oil optimistic about prospects in Africa

By: Kim Cloete     2nd October 2018 Oil and gas exploration and production company Tullow Oil has outlined its sharper and deeper focus on Africa, with upbeat outlooks for its projects in both West and East Africa.   Despite a shift to cleaner energy and alternative energy sources, Tullow Oil also believes there will be strong... 

Wits announces passing of SKA project research chair Sergio Colafrancesco

By: Marleny Arnoldi     2nd October 2018 The University of the Witwatersrand (Wits) has announced the passing of Wits School of Physics member and scientist Professor Sergio Colafrancesco on September 30, following a battle with cancer. He was the School of Physics’ radio astronomy research chairperson for the Square Kilometre Array... 

Chinese delegation to study South Africa’s mineral codes

By: Martin Creamer     2nd October 2018 South Africa’s meticulous set of mineral reporting codes has succeeded in attracting a high-ranking Chinese delegation from the Mineral Resources and Reserves Evaluation Centre of the Ministry of Land and Natural Resources (MRREC) in Beijing. South Africa’s Samcodes Standards Committee (SSC) will... 

Chinese delegation to study South Africa’s mineral codes
Photo by Creamer Media
Samcodes Standards Committee chairperson Matt Mullins

Group Five announces R1.43bn loss, Teixeira resigns

By: Irma Venter     2nd October 2018 Group Five will focus on its Developments & Investments (D&I) and Operations & Maintenance (O&M) businesses going forward, with a “de-emphasis” on the Construction and Engineer, Procure and Construct (EPC) businesses. This “de-emphasis” did not mean Group Five was walking away from construction,... 

Group Five announces R1.43bn loss, Teixeira resigns
Cristina Teixeira

Germany pushes VW, BMW for trade-ins to defuse diesel crisis

By: Bloomberg     2nd October 2018 Germany’s ruling coalition pushed Volkswagen, Daimler and BMW to offer trade-in rebates for older diesel vehicles to avoid driving bans in urban areas and defuse a crisis that’s sullying the country’s reputation as an automotive leader. The plan wasreed by Chancellor Angela Merkel’s government... 

Uganda to join transparency programme as it seeks mining investors

By: Bloomberg     2nd October 2018 Uganda plans to join a program aimed at rooting out corruption in resource industries as the East African nation seeks to reassure potential investors that it isn’t involved in “conflict minerals.” The Cabinet has already endorsed the plan to join the Extractive Industries Transparency Initiative... 

Japan's Kansai to help Zambia paint out malaria

By: Reuters     2nd October 2018 Kansai Plascon, owned by Tokyo-listed Kansai Paint, has launched the world's first mosquito repellant paint in Zambia to help it reach a target to eliminate malaria by 2021, the company and a Japanese government official said. Malaria, spread by mosquitoes, is a treatable disease if caught early,... 

Dube TradePort continues to inject billions into local economy, job creation – MEC

By: Simone Liedtke     2nd October 2018 The Dube TradePort, which incorporates the King Shaka International Airport, has in the past ten years invested R11.5-billion into the South African economy and created nearly 100 000 jobs, KwaZulu-Natal Economic Development, Tourism and Environmental Affairs MEC Sihle Zikalala said on Tuesday.... 

R4.6bn Nwamitwa dam construction set for 2026 completion, subject to finance availability

By: Marleny Arnoldi     2nd October 2018 The Department of Water and Sanitation plans to appoint contractors for the roads and advanced works for the Nwamitwa dam, in Limpopo, in March 2020, ahead of the appointment of a contractor for the construction of the dam in March 2022, Water and Sanitation Minister Gugile Nkwinti said in a... 

R4.6bn Nwamitwa dam construction set for 2026 completion, subject to finance availability
Water and Sanitation Minister Gugile Nkwinti

LHDA holds workshops on Lesotho Highlands Water Project Phase 2

By: Simone Liedtke     2nd October 2018 The Lesotho Highlands Development Authority (LHDA) has started a series of workshops with registered construction companies in Gauteng and Free State to explain the procurement framework of the Lesotho Highlands Water Project (LHWP) Phase 2 and to share lessons learned from previous tender... 

GDDA seeks contractor to build BioPark Phase 3 at Innovation Hub

By: Tasneem Bulbulia     2nd October 2018 The Gauteng Growth and Development Agency (GDDA) is inviting bids from contractors for the construction of BioPark Phase 3 at The Innovation Hub, in Pretoria. Bids will be evaluated in terms of the 90:10 preferential points system in accordance with the Preferential Procurement Policy Framework... 

Durban company called Poison to sell cannabis beer, BD says

By: Bloomberg     2nd October 2018 A South African craft brewery has received funding from a number of well-known Durban-based investors to start making and selling a lager containing cannabis, after the private use of the plant was legalized in the country, Business Day reported. Poison City Brewing investors include RCL Foods... 

For African bush elephants, wrinkles are cool

By: Reuters     2nd October 2018 A study of the African bush elephants' vast network of deep wrinkles has found they are intricately designed to help the animals keep their cool, fight off parasites and defend against sun damage, scientists said on Tuesday. The fine pattern of millions of channels mean the elephants' skin can... 

Mini-refineries race billionaire to fix Nigerian fuel crisis

By: Bloomberg     2nd October 2018 In the race to solve a fuel-import crisis in Nigeria, Africa’s richest person faces competition from a swarm of tiny challengers. Billionaire Aliko Dangote is building a 650 000 barrel-a-day refinery in Nigeria that will help cut the nation’s $7-billion annual fuel-import bill. Such is the... 

City of Cape Town to spend over R2bn on new housing – De Lille

By: African News Agency      2nd October 2018 The city of Cape Town’s Transport and Urban Development Authority (TDA) will spend over R2-billion on new housing over the next three financial years, with over R500-million budgeted for 2018/19, mayor Patricia de Lille said on Tuesday. In a statement, de Lille said the 2018/19 budget was... 

City of Cape Town to spend over R2bn on new housing – De Lille
Photo by Reuters
Cape Town Mayor Patricia de Lille

China's at 'peak steel' right now, top iron-ore shipper says

By: Bloomberg     2nd October 2018 The world’s largest steel market is about to go into reverse. Production in China will peak in 2018 and then shrink next year as local demand drops, according to forecasts from the Australian government, which says the shift will add to headwinds for core ingredient iron ore. Mainland steel... 

Datatec expects to report improvement in H1 earnings

By: Simone Liedtke     2nd October 2018 Following a strong start to the year, JSE-listed Datatec expects a more than 20% increase in all earnings a share metrics for the first six months ended August 31. The international information and communications technology company further said, on Tuesday, that a solid operational performance... 

Defence department to host supplier day

By: Simone Liedtke     2nd October 2018 The Department of Defence (DoD) will, on Friday, host a supplier day in Centurion, during which the department aims to build relationships with small, medium-sized and microenterprises (SMMEs). The department will also be sharing details of its procurement processes with SMMEs. 

Capetonians can use more water – and pay less

By: News24Wire      2nd October 2018 Capetonians can now use a bit more water every day – and will pay around 25% less for it. The slightly less stringent water restrictions kicked in on Monday as the combined level of supply dams reached 75.9% of storage capacity. While the rocketing fuel price is making a dent in consumers'... 

Capetonians can use more water – and pay less

SA's unemployment crisis in numbers

By: News24Wire      2nd October 2018 The Jobs Summit, which will kick off later this week, is a joint effort by various stakeholders to find solutions to South Africa’s unemployment crisis. President Cyril Ramaphosa announced the summit during his State of the Nation Address in February, and it is intended to yield practical... 

 SA's unemployment crisis in numbers

MTN mulls scrapping Nigeria IPO, seeks options as spat hurts

By: Bloomberg     2nd October 2018 MTN Group, the wireless carrier facing a combined $10-billion in claims from authorities in Nigeria, said it may no longer seek to raise capital through an initial public offering on the country’s stock exchange. Africa’s largest mobile carrier is reconsidering the IPO amid a dispute with... 

MTN mulls scrapping Nigeria IPO, seeks options as spat hurts

Rand slips as US reaches trade agreement with Canada, Mexico

By: News24Wire      2nd October 2018 The rand slipped overnight, trading at levels over R14.20/$ on Tuesday morning, following a trade agreement reached between the US and Canada and Mexico. The currency was trading slightly weaker (0.82%) at R14.33 by 08:45. 

 Rand slips as US reaches trade agreement with Canada, Mexico

Nzimande slams DA for state of emergency call over trains

By: News24Wire      2nd October 2018 Transport Minister Blade Nzimande has slammed the DA's calls to have a state of emergency called in the Western Cape over the state of train services. Last month, Mayoral Committee member for Transport and Urban Development Brett Herron made the request after an attack on a train en route to... 

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