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Latest News

Sarb denies instructing banks on KPGM

By: African News Agency      6th October 2017 The South African Reserve Bank (Sarb) has denied that it told the country’s big four banks that they cannot fire KPMG, stating categorically on Friday that it had not instructed banks on what steps they should or should not take with regards to their contracts with the embattled auditing firm.... 

Steel producing nations to discuss overcapacity in Berlin in Nov

By: Reuters     6th October 2017 Germany is inviting ministers and senior officials from leading steel producing countries to a meeting in Berlin in late November to discuss overcapacity in the sector, the economy ministry said on Friday. "We want to discuss together how we can prevent overcapacity on the global market and... 

EU sets dumping duties on steel from four countries

By: Reuters     6th October 2017 The European Union (EU) has decided to set duties on hot-rolled steel from Brazil, Iran, Russia and Ukraine after a complaint by EU manufacturers that the product used for construction and machinery was being sold at excessively low prices. The EU will levy antidumping tariffs of between €17.60/t... 

Eskom asks McKinsey, Trillian to return R1.6bn

By: Reuters     6th October 2017 South Africa's Eskom has asked consultancy firms McKinsey and Trillian to pay it back R1.6-billion ($117-million), saying that an internal inquiry had found that the State power utility's decisions to make the payments were unlawful. "The interim findings from Eskom investigations into the... 

Eskom asks McKinsey, Trillian to return R1.6bn

Opinion: South Africa’s coal mining sector could shrink by 46% 

     6th October 2017 In this opinion article, independent economic risk consultant Rob Jeffrey argues that the mining industry and coal industry need to fight for their very future otherwise all is lost. Few people realise that future economic, political and social prosperity are at currently stake. Decisions made in... 

Opinion: South Africa’s coal mining sector could shrink by 46%
Rob Jeffrey

Transforming V&A's grain silos into Africa's largest contemporary art museum

By: Kim Cloete     6th October 2017 After four years of cutting, carving and engineering what at times seemed near impossible, the V&A Waterfront’s giant, historic grain silo has been transformed into the world’s largest museum dedicated to contemporary art from Africa. In an architectural and engineering feat, the nearly... 

Transforming V&A's grain silos into Africa's largest contemporary art museum

Dow Packaging homes in on sustainable solutions

By: Anine Kilian     5th October 2017 With continued rapid urbanisation in South Africa putting pressure on the food and beverage industry in terms of food safety, shelf life and adequate supply transportation, packaging manufacturer Dow is focusing on developing innovative and sustainable solutions to mitigate these types of... 

Dow Packaging homes in on sustainable solutions
Dow plastics division director Felip Vidiella

De Beers’ diamond exploration grinding to halt on government issues 

By: Martin Creamer     5th October 2017 The exploration programme of De Beers Consolidated Mines (DBCM) is grinding to a halt owing to the ongoing issues the iconic diamond mining company is experiencing with South Africa’s Department of Minerals Resources (DMR). With the hold-up of as many as 54 prospecting licence applications for as... 

De Beers’ diamond exploration grinding to halt on government issues
De Beers Consolidated Mines CEO Phillip Barton talks to Mining Weekly Online’s Martin Creamer. Photographs: Duane Daws. Video and Video Editing: Nicholas Boyd.

Sassda promotes the use of stainless steel water pipes

     5th October 2017 The Southern African Stainless Steel Development Association (Sassda) is, along with the Drakenstein municipality in Paarl, in the Western Cape, and South African stainless steel product manufacturers, evaluating the use of stainless steel pipes to reduce water leaks. Sassda states that as much... 

Shumba’s coal trading division generates first revenues

     5th October 2017 Coal mining and energy development company Shumba Energy’s coal trading division, Shumba Coal Trading (SCT), has generated the first revenues for the company. The Botswana Stock Exchange-listed company on Thursday said it had sold more than 1 000 t of coal to customers in the regional market, to... 

South Africa continues on path of deindustrialisation

By: Natasha Odendaal     5th October 2017 With some exceptions, South Africa’s industrial policy is not working, leaving the nation to continue down its current path of deindustrialisation, says Department of Trade and Industry (DTI) industrial development deputy director-general Garth Strachan. Addressing delegates at the sixth... 

South Africa continues on path of deindustrialisation
Department of Trade and Industry industrial development deputy director-general Garth Strachan

Auditor general explains why he 'didn't pull plug' on KPMG

By: News24Wire      5th October 2017 The office of the auditor general decided not to pull the plug completely on KPMG as one of its partners in public sector auditing, pending an independent investigation into the firm’s conduct. Kimi Makwetu, auditor general, told members of Parliament on Thursday that his office engaged with the... 

 Auditor general explains why he 'didn't pull plug' on KPMG
Auditor General Kimi Makwetu

Sandvik establishes R15-million local production facility 

     5th October 2017 Mining equipment and services provider Sandvik Mining and Rock Technology last month officially opened its new R15-million production unit in Boksburg. Ilan Solomons was there and filed this report. 

Sandvik establishes R15-million local production facility
Sandvik establishes R15-million local production facility

Economic impact of ANC race to be felt only in 2019, says Schussler

By: Irma Venter     5th October 2017 Economist Mike Schussler says South Africa’s economic growth rate will not see a “major improvement beyond 2%, 2.5% for the foreseeable future”. “I think growth next year, not even depending on who is the president, will be better than this year, but it is not going to shoot out the lights,” he... 

Economic impact of ANC race to be felt only in 2019, says Schussler

SA business ‘complicit’ in looting of State – Jay Naidoo

By: African News Agency      5th October 2017 Activist for social justice, Jay Naidoo, on Thursday urged the South African business community to find its moral compass and not be complicit in the looting of the State by greedy individuals. Naidoo, who was founding general secretary of the Congress of South African Trade Unions (Cosatu) and a... 

SA business ‘complicit’ in looting of State – Jay Naidoo
Photo by Duane Daws
Activist Jay Naidoo

South Africa's business confidence recovers in September

By: Reuters     5th October 2017 South Africa's business confidence index rose in September as merchandise import and export volumes increased, a survey showed on Thursday, after falling to its lowest in more than three decades in August. The South African Chamber of Commerce and Industry's (Sacci) monthly business confidence... 

UK car sales set for first annual decline since 2011 after September slump

By: Reuters     5th October 2017 British new car registrations on Thursday appeared on course for their first annual fall since 2011 after a 9.3% tumble in September, a month which normally accounts for around 15% of demand. Sales were hurt by business and political uncertainty as Britain prepares to leave the EU and confusion... 

AfDB delays vote on financing for Côte d'Ivoire Airbus purchase

By: Reuters     5th October 2017 The board of directors of the African Development Bank on Wednesday delayed a vote on a $296-million financing package for Côte d'Ivoire national airline Air Cote d'Ivoire's purchase of five new Airbus A320s, the bank said. The board discussed the proposed deal, but bank officials said no vote... 

Fourth Industrial Revolution prioritises innovation – Davies

By: Keith Campbell     5th October 2017 Trade and Industry Minister Dr Rob Davies has highlighted the challenges being posed to the South African economy, and especially industry, by what is called the Fourth Industrial Revolution, or Industry 4.0. He was delivering the keynote address at the sixth Council for Scientific and Industrial... 

Fourth Industrial Revolution prioritises innovation – Davies
Photo by Duane Daws
Trade and Industry Minister Dr Rob Davies

KPMG paid severance packages to top officials who left the company

By: News24Wire      5th October 2017 KPMG paid severance packages to its top leadership who left the company in September, the beleaguered auditing firm told Parliament on Thursday. KPMG CEO Nhlamu Dlomu, KPMG SA head of public sector Modise Maseng, and the interim chair of the auditor's policy board Gary Pickering appeared before... 

 KPMG paid severance packages to top officials who left the company

AB InBev completes $3.15bn Coca-Cola Beverages Africa transition

By: African News Agency      5th October 2017 The world’s largest brewer, Anheuser-Busch InBev (AB InBev) on Thursday announced that it has completed the transition of its 54.5% equity stake in Coca-Cola Beverages Africa (CCBA) for $3.15-billion after customary adjustments. This comes after AB InBev last year acquired SABMiller for... 

Political and policy uncertainty weigh on South Africa's economy – SARB

By: Reuters     5th October 2017 South Africa's economy is growing much less than it should be and is unlikely to reach 2% annual expansion in the short term because of political and policy uncertainty, the central bank said on Wednesday. The Reserve Bank, which in June faced pressure to switch its focus to economic growth from... 

Political and policy uncertainty weigh on South Africa's economy – SARB
Photo by Reuters
Reserve Bank Governor Lesetja Kganyago

Vodacom followed due process in bidding for govt contract – CEO

By: Reuters     5th October 2017 South Africa's mobile operator Vodacom Group followed due process in bidding for a contract to provide mobile services to the government, its chief executive Shameel Joosub said on Wednesday. The Competition Commission said earlier on Wednesday it had started investigating Vodacom, the unit of... 

Industry-specific challenges a pall over AMD Conference 

     5th October 2017 Creamer Media’s Samantha Herbst talks to journalist Keith Campbell about the overall outcome of the Aerospace, Maritime and Defence Conference. 

Industry-specific challenges a pall over AMD Conference
Industry-specific challenges a pall over AMD Conference

SAA tables revised wage offer 

By: Natasha Odendaal     5th October 2017 State-owned airliner South African Airways (SAA) has placed a revised wage offer on the table, with trade unions, the South African Transport and Allied Workers Union (Satawu), Uasa and the National Union of Metalworkers South Africa (Numsa), set to make a decision on the matter this week. This... 

Sale of South Africa’s strategic fuel stocks heads to court

By: African News Agency      5th October 2017 The question of whether South Africa can access strategic fuel stocks sold way below market price in a controversial deal made in late 2015 will be answered by a court of law, Strategic Fuel Fund (SFF) acting chief executive Thabani Zulu said on Wednesday. Speaking to journalists on the sidelines... 

Transnet upgrades fuel pipeline from Durban to Johannesburg

By: African News Agency      5th October 2017 Transnet’s has commissioned its upgraded 55 km multiproduct pipeline, which will enable it to move four petroleum products from Durban to Johannesburg. When the 24-inch trunk-line was first commissioned in 2012 it transported only diesel. 

Residents furious as City of Cape Town awards controversial R1bn prime land tender 

By: News24Wire      5th October 2017 The City of Cape Town has awarded a controversial R1-billion tender to sell and transform stretches of its prime land between Clifton and Camps Bay - a move which residents feel will push up costs and start squeezing out those who can no longer afford to live there. The Clifton tender, which... 

Water dept frustrates MPs with conflicting annual reports

By: News24Wire      5th October 2017 MPs on the portfolio committee on water and sanitation were left frustrated on Wednesday after receiving two conflicting reports on the department of water's leaking financials. Both the department and the office of the auditor general reported to the committee on Wednesday on the 2016/17 annual... 

Water department to fast track Western Cape schemes to beat 'day zero'

By: News24Wire      5th October 2017 Minister of Water and Sanitation Nomvula Mokonyane met with Cape Town Mayor Patricia de Lille on Wednesday to discuss efforts to avoid "day zero" during the current drought. Mokonyane urged De Lille and Local Government, Environmental Affairs and Development Planning MEC Anton Bredell to address... 

Water department to fast track Western Cape schemes to beat 'day zero'

Manufacturing sector bore brunt of industrial cyberattacks in first half of 2017

By: Schalk Burger     4th October 2017 The manufacturing sector emerged as the hardest hit by cyberattacks during the first half of 2017 as the target of one in every three attacks on industrial control system (ICS) computers, global cybersecurity firm Kaspersky Lab said on Wednesday. The Threat Landscape for Industrial Automation... 

SA Mint launches new coin to honour stalwart OR Tambo 

By: Natasha Odendaal     4th October 2017 The South African Mint Company (SA Mint) on Wednesday unveiled a new R5 general circulation coin, as well as a series of collectible coins, under the theme ‘freedom, democracy and culture’ to commemorate the birth centenary of late struggle stalwart Oliver Reginald Tambo. Showcasing the new coins... 

SA Mint launches new coin to honour stalwart OR Tambo
SA Mint MD Tumi Tsehlo showcases the latest R5 coins to go into circulation to honour struggle stalwart Oliver Reginald Tambo on his birth centenary. Date recorded: 04.10.2017. Camerawork and videoediting: Darlene Creamer.

Caterpillar to localise components as part of R1.3bn empowerment deal

By: Terence Creamer     4th October 2017 US capital equipment giant Caterpillar has announced and equity-equivalent investment programme in South Africa through which it aims improve its black-empowerment rating by localising R1.3-billion-worth of components used in the construction and mining equipment it sells domestically through... 

Caterpillar to localise components as part of R1.3bn empowerment deal
Caterpillar Industries MD Zakieya Parker

Public hearings into Atlantis SEZ set for next week

By: Schalk Burger     4th October 2017 The Department of Trade and Industry (DTI) and the Western Cape Department of Economic Development and Tourism will host a public hearing session on the designation of the Atlantis Special Economic Zone (SEZ) for Green Technologies on Wednesday next week. The session will take place in Protea... 

Brown has received report from Eskom on Trillian

By: African News Agency      4th October 2017 Public Enterprises Minister Lynne Brown on Wednesday told MPs she had received a report from Eskom about its dealings with Trillian and McKinsey which she demanded after it emerged that the power utility had lied to Parliament, but made plain that she will not act against the leadership of... 

Brown has received report from Eskom on Trillian
Photo by Duane Daws
Public Enterprises Minster Lynne Brown

Cape Town’s municipal water will last until March next year, unless things change - De Lille

By: News24Wire      4th October 2017 The City of Cape Town anticipates that its supply of municipal water will run out around March 2018, Mayor Patricia de Lille said on Wednesday. "If consumption is not reduced to the required levels of 500-million litres of collective use per day, we are looking at about March 2018 when supply of... 

Cape Town’s municipal water will last until March next year, unless things change - De Lille

Portfolio committee accepts terms for inquiry into Transnet’s R50bn locomotive deal 

By: Sashnee Moodley     4th October 2017 Parliament’s Portfolio Committee on Trade and Industry has accepted the terms of reference for its inquiry into State-owned enterprise Transnet’s R50-billion locomotive contract. Democratic Alliance (DA) shadow Trade and Industry Minister Dean Macpherson said on Wednesday that the inquiry needed... 

Portfolio committee accepts terms for inquiry into Transnet’s R50bn locomotive deal
Photo by Duane Daws
DA shadow Trade & Industry Minister Dean Macpherson

SA Competition Commission drops cancer drugs investigation against Aspen

By: African News Agency      4th October 2017 The Competition Commission on Wednesday dropped its investigation into allegations that pharmaceutical companies, Aspen Pharmacare Holdings and Equity Pharma, were involved in excessive pricing. The Commission had in June initiated three investigations against both companies for suspected abuse... 

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