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Latest News

City of Cape Town, DST to host inaugural Africa Tech Week

By: African News Agency      28th January 2019 The City of Cape Town in partnership with the department of science and technology (DST) is set to host the inaugural Africa Tech Week that will introduce African small businesses to digital solutions and future business strategies and development. Africa Tech Week, under the theme “How to create... 

Dudu Myeni 'was powerful', State capture inquiry hears 

By: African News Agency      28th January 2019 Former South African Airways (SAA) board chairperson and head of the Jacob Zuma Foundation (JZF), Dudu Myeni, was paid R300 000 monthly by Bosasa as she was powerful and ''very close'' to former president Jacob Zuma, Bosasa's former COO Angelo Agrizzi testified on Monday. Agrizzi said a designer... 

Dudu Myeni 'was powerful', State capture inquiry hears
Photo by Creamer Media
Former SAA board chairperson Dudu Myeni

WesBank expects 1.5% dip in new-car sales, heavy truck market to drop by 4.4%  

By: Irma Venter     28th January 2019 A slump in the global economy, as well as a local economy offering “little in the way of economic stimulation”,  should result in a 1% decline in new-vehicle sales in South Africa in 2019, says vehicle finance group WesBank. “It is quite comforting to know that we were very close with our 2018... 

 WesBank expects 1.5% dip in new-car sales, heavy truck market to drop by 4.4%

SBI announces new executive team in bid to strengthen its capacity

By: Simone Liedtke     28th January 2019 Two top-rated South African economists and thought leaders are joining the Small Business Institute’s (SBI’s) board as part of the organisation’s bid to strengthen its capacity to champion the voice of small businesses. The SBI on Monday also announced a new executive team, who have been... 

UNTU intends to launch protest action against PRASA, Transport Minister

By: Simone Liedtke     28th January 2019 The United National Transport Union (UNTU) is in the process of launching a Nedlac Section 77 process through its affiliated federation, the Federation of Trade Unions of South Africa (Fedusa), which will allow protest action to force the Passenger Rail Agency of South Africa (PRASA) and... 

SAA hopes to resume Blantyre flights by the weekend 

By: Rebecca Campbell     28th January 2019 National flag carrier South African Airways (SAA) hopes to reinstate flights between Johannesburg and Blantyre (Malawi) on this coming Saturday (February 2). The route has been suspended since January 18 due to Blantyre’s Chileka International Airport having being found to have serious safety... 

Government keen to see SAA debt restructured soon 

By: Reuters     28th January 2019 Government would like to see South African Airways' (SAA's) debt restructured as soon as possible, Transport Minister Blade Nzimande told Reuters on Monday. 

Government keen to see SAA debt restructured soon

Nissan is said to face SEC probe in US over executive pay

By: Bloomberg     28th January 2019 The Securities and Exchange Commission is investigating whether Nissan Motor Company accurately disclosed its executive pay in the US, according to several people familiar with the matter, compounding the carmaker’s woes as it grapples with the aftermath of former chairman Carlos Ghosn’s arrest.... 

Numsa slams 'nefarious' plans to privatise Eskom, other SOEs

By: African News Agency      28th January 2019 The National Union of Metalworkers of South Africa (Numsa) has accused the governing African National Congress of pursuing what it calls 'nefarious' plans to privatise power utility Eskom and other cash-strapped state owned enterprises. In a column published in a local newspaper on Sunday, Numsa... 

Ramaphosa gets a global Madiba moment, while SA ponders Denel's next step

By: News24Wire      28th January 2019 President Cyril Ramaphosa has finished off his first official state visit to India on a good note, celebrating and inviting "real, ethically driven" Indian businesses to invest more in South Africa. A visibly fatigued Ramaphosa, following Team South Africa's stop at the World Economic Forum in... 

Ramaphosa gets a global Madiba moment, while SA ponders Denel's next step
Indian Prime Minister Narendra Modi, Indian president Ram Nath Kovind, President Cyril Ramaphosa

Global crude steel increased by 4.6% in 2018

By: Tasneem Bulbulia     25th January 2019 Global crude steel production reached 1.81-billion tonnes in 2018 – 4.6% year-on-year increase, the World Steel Association (worldsteel) reported on Friday. Worldsteel pointed out that crude steel production had increased in all regions, except for the European Union (EU), which recorded a 0.3%... 

M&A activity to rebound in 2019 – Baker McKenzie

By: Marleny Arnoldi     25th January 2019 Global law firm Baker McKenzie says poor merger and acquisition (M&A) deal values in South Africa for 2018 resulted from the economy’s dismal performance and the risk-off sentiment towards emerging markets in general. According to the Global Transactions Forecast (GTF), issued by Baker and... 

Nontariff barriers are holding African economic growth back – WEF panel

By: Marleny Arnoldi     25th January 2019 A panel of business leaders speaking at the World Economic Forum (WEF) meeting, in Davos, Switzerland, this week, bemoaned the difficulty in obtaining work permits and visas for Africans across the continent and discussed the urgent need for Africa to focus on reducing nontariff barriers to... 

Operation Phakisa for water expected by March 

By: Natasha Odendaal     25th January 2019 The Department of Water and Sanitation (DWS) is preparing to launch its own series of mini-Phakisa's to attempt to resolve the most pressing matters facing South Africa's water infrastructure sector. Over the next eight weeks, the department will mobilise provincial level Phakisa's prior to... 

Operation Phakisa for water expected by March

Hearings into alleged cement industry cartel continues, judgment expected by June

By: Simone Liedtke     25th January 2019 The Competition Tribunal turned its focus back to the case of alleged cartel conduct in the cement industry on Thursday, with a judgment in the case against KwaZulu-Natal-based Natal Portland Cement (NPC) Cimpor expected to be announced by June. The Competition Commission in 2008 launched an... 

SolarAfrica, Inspired Evolution establishes fund for solar PV solutions

By: Marleny Arnoldi     25th January 2019 Solar financing specialist SolarAfrica, together with investment manager Inspired Evolution, have signed a R100-million equity investment facility that will contribute to a R500-million fund for financing solar photovoltaic (PV) solutions. The funding joint venture allows SolarAfrica to... 

SolarAfrica, Inspired Evolution establishes fund for solar PV solutions

Modi, Ramaphosa announce 3yr strategic cooperation programme 

By: Marleny Arnoldi     25th January 2019 Indian PM Narendra Modi and President Cyril Ramaphosa have agreed that considerable scope exists for India and South Africa to grow their bilateral economic relationship. “To ensure concrete deliverables Modi and I concluded this morning a three-year Strategic Programme of Cooperation aimed at... 

Modi, Ramaphosa announce 3yr strategic cooperation programme
President Cyril Ramaphosa

Small businesses buoyant despite challenging economic climate – survey

By: African News Agency      25th January 2019 Confidence among small South African businesses fell in the third and fourth quarters of 2018 but the sector remains optimistic despite a challenging economic climate, a survey published on Friday showed. The quarterly survey produced by Yoco showed an overall pulse score of 32 for the fourth... 

South Africa farmers seek R3bn in drought aid 

By: Reuters     25th January 2019 South Africa's agricultural industry body AgriSA will approach banks, agribusiness and government to raise R3-billion to help farmers hit by severe drought, its executive director said on Friday. Farmers have faced dry conditions over most of the nation for the last year, even as they are still... 

Santam to list on A2X

By: Creamer Media Reporter      25th January 2019 South African insurer Santam will effect a secondary listing of its shares on the A2X, effective February 1.  It will retain its listings on the JSE and the Namibian Stock Exchange. 

Rob Burger appointed Huge Telecom MD

By: Creamer Media Reporter      25th January 2019 Robert (Rob) Burger has been appointed MD of Huge Telecom, a wholly owned subsidiary of JSE-listed Huge Group, with effect from January 23. After initially serving as Huge Telecom CFO, he was appointed acting MD in November 2018. 

Mabuza reaffirms ANC's Reserve Bank nationalisation plan 

By: News24Wire      25th January 2019 Deputy President David Mabuza has reaffirmed the African National Congress's (ANC's) intention to nationalise the South African Reserve Bank and place "public interest and development" at the centre of central bank's existence.  The ANC resolved at its 2017 national elective conference – where... 

 Mabuza reaffirms ANC's Reserve Bank nationalisation plan
Deputy President David Mabuza

Water dept launches water quality laboratory in Brits

By: Marleny Arnoldi     25th January 2019 Deputy Water and Sanitation Minister Pamela Tshwete on Thursday launched the Magalies Water Services Laboratory, in Brits, in the North West. The laboratory is set to provide services ranging from water quality testing and sampling, research and monitoring of drinking water supplies, process... 

VW to manufacture mobile electric car recharging stations

By: Reuters     25th January 2019 Volkswagen will manufacture electric car batteries and charging stations in its home region in Germany, as it prepares to mass produce electric vehicles and overhaul its components division, which makes engines and steering parts. Volkswagen (VW) said on Friday it would invest €870-million by... 

Renault-Nissan alliance gets a reboot as combatants step back

By: Bloomberg     25th January 2019 The strained two-decade marriage of Renault and Nissan Motor is about to get a fresh start. Within hours, the two main antagonists in the crisis that’s paralyzed the world’s biggest automotive alliance have said they’re leaving the stage. Carlos Ghosn, 64, resigned as chairman and chief executive... 

Province grants R300m for housing after long dispute, says Mashaba

By: African News Agency      25th January 2019 Johannesburg metro mayor Herman Mashaba said on Wednesday that the Gauteng provincial human settlements department had committed about R300-million for housing developments in the city for the current financial year.  This comes against the backdrop of an ongoing dispute about the Human... 

Mthatha airport downgrade forces flights cancellations for SA Express

By: African News Agency      25th January 2019 SA Express on Friday announced that it was canceling its flights to Mthatha with immediate effect because the airport there has been downgraded. The Civil Aviation Authority has downgraded the Mthatha airport effective from Friday, 25 January 2019, following a negative audit finding against it. 

Metrorail trains across South Africa at risk of coming to a stand still

By: News24Wire      25th January 2019 Following the fatal train collision in Mountainview, Pretoria that left four people dead and 620 injured earlier this year, the Railway Safety Regulator (RSR) is considering suspending the Passenger Rail Agency of South Africa's (PRASA) safety permit again, GroundUp reports. If the permit is... 

Ramaphosa's first state visit to India: Denel deal in sight after lifting blacklist over corruption claims

By: News24Wire      25th January 2019 South African President Cyril Ramaphosa will be hosted by India's Prime Minister Narendra Modi on his first official state visit to the country on Friday. According to a media statement from the Presidency, Ramaphosa, who will be joined by a delegation of ministers including Jeff Radebe, Angie... 

Crowdfunding plan for resurrecting South Africa’s Spitfire

By: Rebecca Campbell     25th January 2019 The South African Air Force (SAAF) Museum Spitfire Restoration Project has launched a crowdfunding project to raise money to pay for the construction of a new combined workshop and hangar at the Museum’s main branch, at Air Force Base (AFB) Swartkop in Centurion (south west of Pretoria) in... 

Crowdfunding plan for resurrecting South Africa’s Spitfire

GEF, UN Environment partner with tech companies to launch e-waste economy in Nigeria

By: Marleny Arnoldi     24th January 2019 The Nigerian government, the Global Environment Facility (GEF) and UN Environment have partnered with Dell, HP, Microsoft and Phillips to launch a $15-million investment to create a formal electronic-waste (e-waste) recycling industry in Nigeria. A report published on Thursday by the World... 

GEF, UN Environment partner with tech companies to launch e-waste economy in Nigeria
Photo by Bloomberg
E-Waste

Finance Minister invites public comment ahead of 2019 Budget

By: Marleny Arnoldi     24th January 2019 Finance Minister Tito Mboweni is inviting South Africans to share their views about economic conditions and other issues that they would like government to highlight in the Budget, which the Minister will deliver on February 20. Mboweni specified that he would appreciate suggestions on how... 

Finance Minister invites public comment ahead of 2019 Budget
Photo by Marleny Arnoldi
Finance Minister Tito Mboweni invites public to give suggestions for Budget 2019

Namibia, South Africa sign fisheries MoU

By: African News Agency      24th January 2019 Namibia and South Africa have signed a fisheries Memorandum of Understanding (MoU), outlining how they will work together in various matters within the fisheries space as the two countries share a common border. The MOU was signed by Minister Senzeni Zokwana, and his Namibian counterpart,... 

Eskom should be split, experts to tell president – sources 

By: Reuters     24th January 2019 South Africa's Eskom could be split into three separate firms under proposals from experts President Cyril Ramaphosa has hired to help revive the ailing state power company, two sources familiar with the matter told Reuters. Reforming Eskom is vital to get Africa's most industrialised economy... 

Tito Mboweni wants to hear your plans to grow the economy 

By: News24Wire      24th January 2019 Finance Minister Tito Mboweni, who will deliver the 2019 Budget on February 20 in Cape Town, has called on South Africans to send him and his team ideas on how South Africa can boost its economic growth. The economy is expected to grow by only 0.7% in 2018, according to the latest estimates of... 

 Tito Mboweni wants to hear your plans to grow the economy
Finance Minister Tito Mboweni

Tiger Brands to sell part of its Oceana shareholding to Brimstone

By: Tasneem Bulbulia     24th January 2019 Tiger Brands will sell a part of its shareholding in South African fishing company Oceana Group to Brimstone Investment Corporation, which already owns a 16.98% stake in Oceana, for about R581-million. The parties have agreed that Brimstone will acquire about eight-million Oceana shares,... 

Brand SA, Absa host investment seminar at WEF

By: African News Agency      24th January 2019 Brand South Africa together with Absa Bank on Thursday hosted a South Africa investment seminar at the World Economic Forum (WEF) in Switzerland to support and initiate the next phase of the country’s investment drive. The Seminar held on the margins of the 48th annual meeting of the WEF... 

Brand SA, Absa host investment seminar at WEF
Team SA

Ramaphosa's 'nine lost years' speech impresses Old Mutual CEO at Davos

By: News24Wire      24th January 2019 When President Cyril Ramaphosa spoke out about South Africa’s "nine lost years" at a dinner in Davos this week, Old Mutual CEO Peter Moyo said the cost of the period crystallised for him.   "The President spoke about nine wasted years and it was the first time I heard that phrase. It made me... 

Ramaphosa's 'nine lost years' speech impresses Old Mutual CEO at Davos
President Cyril Ramaphosa

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