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Latest News

Plastic bag working group weighing solutions to recyclability problem 

By: Megan van Wyngaardt     10th April 2017 A working group set up to investigate the impact ‘fillers’ are having on the recyclability of plastic supermarket carrier bags is said to have “progressed well” in researching possible solutions and will report back to the industry in June. Established four months ago, the group includes... 

CSIR warns global shake-up in Earth Observation will affect South African sector

By: Keith Campbell     10th April 2017 Worldwide, the Earth Observation (EO) sector is being shaken-up by disruptive innovations by major enterprises. "Globally, traditional EO value chains are changing radically due to technological developments, rapid commercialisation and operationalisation by, especially, leading IT [information... 

South African spatial data infrastructure is developing, but not as fast as desired 

By: Keith Campbell     10th April 2017 Despite the fact that South Africa's Spatial Data Infrastructure Act was passed nearly 14 years ago, in 2003, with the intent of establishing the South African Spatial Data Infrastructure (Sasdi), the Committee for Spatial Information (CSI) and the Electronic Metadata Catalogue, among other... 

ZA Central Registry calls for applications for dotAfrica domain

By: Megan van Wyngaardt     10th April 2017 The administrator of South African domain zones .co.za and .web.za, ZA Central Registry (ZACR), on Monday invited applications from businesses, civil society and other interested parties for its dotAfrica (.africa) pioneer programme. This is in an effort to create brand awareness and visibility... 

Eni, Shell deny wrongdoing in Nigeria after allegations of improper payment

By: Reuters     10th April 2017 Oil majors Royal Dutch Shell and Eni reiterated on Monday that neither they nor their personnel had been involved in any wrongdoing in Nigeria, including improper payments to Nigerian officials. The comments follow media reports alleging how hundreds of millions of dollars from the two companies... 

Peters irrational when she removed PRASA board – court

By: News24Wire      10th April 2017 Former Minister of Transport Dipuo Peters acted irrationally in removing PRASA's board, the North Gauteng High Court in Pretoria ruled on Monday. Judge Peter Mabuse said in a scathing judgment that her decision was unreasonable and disproportionate and he set it aside. 

Peters irrational when she removed PRASA board – court

SA’s junk status will increase costs in auto production chain, warns analyst

By: Irma Venter     10th April 2017 The effects of Standard & Poor’s and Fitch Ratings having downgraded South Africa to junk status will wash “through the entire value chain of automotive production”, warns Frost & Sullivan Mobility Africa programme manager Craig Parker. The impact of the downgrade, leading to a weaker rand, among... 

SA’s junk status will increase costs in auto production chain, warns analyst

Portfolio Committee to probe reports on water department's alleged financial distress

By: Natasha Odendaal     10th April 2017 The Portfolio Committee on Water and Sanitation will investigate recent media reports claiming that the Department of Water and Sanitation (DWS) is allegedly bankrupt. In February, several media reports emerged stating that the DWS was nearly R4.3-billion in debt and had unpaid invoices running... 

Portfolio Committee to probe reports on water department's alleged financial distress
Photo by Duane Daws
Water and Sanitation Minister Nomvula Mokonyane

N2 roadworks 75% complete

By: Anine Kilian     10th April 2017 The rehabilitation of 7 km of the N2 between Borcherds Quarry road and the R300, in the Western Cape, is 75% complete. The R186-million project, which is being undertaken by the Western Cape Department of Transport and Public Works (DTPW) and on which work started in January 2016, is expected to... 

JSE to review trades around Gordhan's recall – Business Day

By: Reuters     10th April 2017 South Africa's bourse will investigate an increase in the trading of certain securities in the hours before former Finance Minister Pravin Gordhan was recalled from an international investor roadshow, Business Day newspaper reported on Monday. On March 27, news broke that President Jacob Zuma had... 

Africa’s first Radisson RED hotel to open in V&A Waterfront Silo District

By: Creamer Media Reporter      10th April 2017 Africa’s first Radisson RED hotel is set to open in the third quarter of 2017 at the V&A Waterfront’s newly revamped Silo District, in Cape Town. The hotel chain, which successfully launched RED hotels in Brussels, Belgium, and Minneapolis, in the US, and with RED hotels in Campinas, Brazil, and... 

Pushing ahead with nuclear deal will guarantee SA junk status, says DA 

By: African News Agency      10th April 2017 It is an undeniable fact that South Africa cannot afford, and does not need, government’s planned nuclear energy deal, the Democratic Alliance (DA) said on Sunday. Media reports on Sunday that the nuclear deal was going full-steam ahead were extremely concerning and would essentially guarantee... 

Pushing ahead with nuclear deal will guarantee SA junk status, says DA

Anglo sells coal mines to Mike Teke’s Seriti

By: Martin Creamer     10th April 2017 Diversified mining company Anglo American on Monday announced the sale of its Eskom-tied domestic thermal coal operations in South Africa to a wholly owned subsidiary of Seriti Resources Holdings, a company majority owned by historically disadvantaged South Africans and led by a management team... 

Anglo sells coal mines to Mike Teke’s Seriti
Photo by Duane Daws
Seriti CEO Mike Teke

New Sutherland laboratory adds another eye in the sky for Sansa

By: Megan van Wyngaardt     7th April 2017 The South African National Space Agency (Sansa) has unveiled an optical space research (OSR) laboratory at the South African Astronomical Observatory (SAAO) in Sutherland. This facility will be used solely for research and to host space monitoring projects with national and international partners. 

New Sutherland laboratory adds another eye in the sky for Sansa
The optical space research laboratory team

Fitch downgrade – Treasury acknowledges ‘setback’

By: African News Agency      7th April 2017 Fitch Ratings agency on Friday downgraded South Africa to junk status, citing the removal of Pravin Gordhan as finance minister. Fitch said President Jacob Zuma’s decision to fire Gordhan last week, was likely to see a change in economic policy. 

Fitch downgrade – Treasury acknowledges ‘setback’

Thebe invests in online auction house

By: Anine Kilian     7th April 2017 Thebe Investment Corporation has acquired a majority stake in privately owned auction provider Clear Asset – a move that creates a leading black-owned online auction house.  Clear Asset focuses on the auction of mining, construction, maritime, agriculture and other heavy-duty assets. 

Transnet says well-positioned to withstand downgrade

By: Megan van Wyngaardt     7th April 2017 Standard & Poor’s (S&P’s) Global Ratings has downgraded Transnet’s long-term foreign currency sovereign credit rating from BBB- to BB+, in line with its assessment of the sovereign rating. S&P’s, however, maintained Transnet’s stand-alone credit profile at bbb, which the parastatal said reflected... 

Transnet says well-positioned to withstand downgrade

Datatec in talks for sale of Wescon-Comstor stake

By: Natasha Odendaal     7th April 2017 JSE-listed information and communications technology (ICT) company Datatec on Friday issued a cautionary as it mulls the sale of its major share in Westcon-Comstor’s operations for more than $800-million. In January, the group had entered into negotiations for a possible transaction, subject to... 

Fitch downgrades SA to junk status

By: African News Agency      7th April 2017 Fitch Ratings agency on Friday downgraded South Africa to junk status, citing the removal of Pravin Gordhan as Finance Minister. Fitch said President Jacob Zuma’s decision to fire Gordhan last week, was likely to see a change in economic policy. 

Fitch downgrades SA to junk status

Downgrade to junk status will impact on food security – Agbiz

By: Megan van Wyngaardt     7th April 2017 Standard & Poor’s (S&P’s) decision to downgrade South Africa’s sovereign debt to junk status will have a significant impact on the country’s agribusiness sector, with a knock-on effect on consumers, agricultural business chamber Agbiz said on Friday. CEO Dr John Purchase explained that the... 

Joffe successfully lists new Long4Life venture on JSE

By: Natasha Odendaal     7th April 2017 Business stalwart Brian Joffe, who emerged from retirement in pursuit of a new business opportunity, on Friday listed his latest venture, Long4Life, on the main board of the Johannesburg bourse. Known as the “sage of Johannesburg”, the Long4Life founder and CEO, who recently stepped down from... 

Joffe successfully lists new Long4Life venture on JSE
Photo by Duane Daws
Long4Life CEO Brian Joffe

Moyane lent tacit approval to the Rogue unit storyline - former spokesperson

By: News24Wire      7th April 2017 Denying that the alleged Rogue Unit existed was not the message Sars management wanted to convey to the public. Former Sars spokesperson Adrian Lackay said during cross examination on Thursday that this was the message given by managers at Sars during a GCIS meeting held in December 2014. 

Banks raise objections in South Africa's FX rigging case – sources

By: Reuters     7th April 2017 Some of the banks South African regulators have alleged rigged the rand currency say the case against them lacks specific detail about anti-competitive conduct and its impact, three sources with direct knowledge of the matter said. The banks have also questioned whether the country's Competition... 

AMSA to raise R3.5bn

By: Reuters     7th April 2017 The South African unit of ArcelorMittal is seeking to raise a R3.5-billion ($250-million) credit facility to shore up its working capital, it said on Thursday. The borrowing-based credit facility depends on the value of collateral a company pledges. The company is struggling to make a profit due... 

History will be made during nationwide shutdown – Outa 

By: News24Wire      7th April 2017 The Organisation Undoing Tax Abuse (Outa) says history will be made during a nationwide shutdown on Friday in protest against President Jacob Zuma and corruption. "The conduct by the authorities in trying to place approval barriers in the way of the Pretoria march to the Union Buildings is a... 

History will be made during nationwide shutdown – Outa

Opinion: Renewables IPP programme an example of impeccable governance

     7th April 2017 It is important to regularly pause, reflect and appreciate a job well conceived and well executed. Back in 2010, the South African government took the bold decision to create a legislative and practical environment in which the Department of Energy could procure power generated by private... 

Opinion: Renewables IPP programme an example of impeccable governance
Brenda Martin

Eskom says will have to contend with higher cost of debt following ratings downgrade

By: Megan van Wyngaardt     7th April 2017 State-owned Eskom’s CFO Anoj Singh says the entity’s funding requirements for the 2017/18 financial year will not be affected by Standard and Poor’s (S&P’s) decision to downgrade its corporate credit rating, as 72% of the current fiscal year’s funding of R72-billion will be secured by end-April.... 

Komatsu concludes $3.7bn Joy Global acquisition

By: Megan van Wyngaardt     7th April 2017 Komatsu America, a subsidiary of Komatsu, has completed its $3.7-billion acquisition of high-productivity mining solutions provider Joy Global. Retaining its headquarters in Milwaukee, Wisconsin, Joy Global will be renamed Komatsu Mining Corp and operate as a subsidiary of Komatsu, while... 

Komatsu concludes $3.7bn Joy Global acquisition

Wits 'deeply concerned' about state of SA

By: News24Wire      7th April 2017 The University of the Witwatersrand (Wits) Senate has expressed “deep concern” about the state of the country and the effect of corruption on education funding. “Political events have exposed the scale of the current social and economic crisis in South Africa,” the university said in a statement... 

Wits 'deeply concerned' about state of SA

Least-cost base case essential starting point for IRP process – Sawea

By: Mia Breytenbach     7th April 2017 The South African Wind Energy Association (Sawea) has rejected the current base case scenario used for the 2016 Integrated Resource Plan (IRP) Update for Electricity, calling for the scenario to be remodelled as a “least-cost energy plan” and re-issued for consultation. The public participation... 

Least-cost base case essential starting point for IRP process – Sawea

SA firm sees potential for elevated-track solution in everything mining to public transport

By: Irma Venter     7th April 2017 South African company Milotek will later this year start construction of a fractional rapid transit (FRT) system at a private coal mine in Mpumalanga. Milotek director and inventor Andries Louw believes this system will revolutionise the way goods are moved in the mining industry and also,... 

SA firm sees potential for elevated-track solution in everything mining to public transport

South African automotive industry at a crossroads

By: Shirley le Guern     6th April 2017 The local automotive industry is at a crossroads and the timing of the inaugural National Association of Automobile Component and Allied Manufacturers (Naacam) show, in Durban, came at a critical point for those rising to the challenge of massive policy changes and industry challenges. Speaking... 

South African automotive industry at a crossroads
DAC chairperson Andrew Velleman

Fitch may be next to slap South Africa with junk rating

By: Reuters     6th April 2017 Ratings agency Fitch is likely to follow rival Standard & Poor's and cut South Africa's sovereign credit rating to below investment-grade, analysts said, an outcome that would underscore worries about political uncertainty and prompt a further selloff in assets. S&P Global Ratings cut South... 

AfDB lends Tanzania $29.8m for natural gas developments

By: Megan van Wyngaardt     6th April 2017 The African Development Bank (AfDB) has approved a $29.8-million loan to Tanzania to help the country mobilise domestic resources and unlock the potential of its natural gas resources through leveraging domestic markets and local content initiatives. The project will help Tanzania “capture the... 

South African banks can deal with 'junk' rating impact – SARB

By: Reuters     6th April 2017 South African banks are adequately capitalised to deal with effects of a sub-investment credit rating, the South African Reserve Bank said on Thursday, after Standard & Poor's downgraded several major financial institutions to junk status. "The resilience of the banks stems from the high capital... 

Renewables remain a priority for African economies – WEC

By: Megan van Wyngaardt     6th April 2017 Three critical uncertainties facing South Africa this year includes commodity prices, electric storage and exchange rates, the World Energy Council’s (WEC’s) ‘World Energy Issues Monitor 2017’ suggests. The report states that, given the strong linkage of the South African economy to commodity... 

Somalia's Puntland region says P&O Ports wins $336m Bossaso concession

By: Reuters     6th April 2017 Somalia's semi-autonomous Puntland region said on Thursday that Dubai's government-owned P&O Ports had won a 30-year concession worth $336-million to expand and manage its Bossaso port. "This investment is a huge undertaking in Puntland and will greatly contribute to the infrastructure... 

Automotive industry key to future of South Africa’s manufacturing industry – Davies 

By: Shirley le Guern     6th April 2017 Trade and Industry Minister Dr Rob Davies has stressed that South Africa does not have the luxury to stop supporting its automotive sector, as has been the case in Australia, where the industry has come to an end.   “The auto industry is key to the future of manufacturing in this country and... 

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