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Latest News

South Africa launches electronic trading platform for government bonds

By: Reuters     29th August 2018 The Johannesburg Stock Exchange (JSE) and the London Stock Exchange launched the country's first electronic government bond trading platform, offering an alternative to traditional fixed-income trading via telephone or chat services. The new system offers public price transparency equivalent to... 

South African farmers play chicken with Trump tariffs

By: Reuters     29th August 2018 Herman Pretorius is just the kind of white South African farmer US President Donald Trump expressed concern for when he barged into the country's delicate land reform debate by ordering an investigation into the "large-scale killing of farmers". But for the greying, bespectacled 58-year-old,... 

Volkswagen SA appoints Andile Dlamini as new head of group communications

By: Irma Venter     29th August 2018 Volkswagen Group South Africa (VWSA) has appointed Andile Dlamini as head of group communications. He will take up his new position on September 1. He replaces Matt Gennrich. 

 Volkswagen SA appoints Andile Dlamini as new head of group communications
Andile Dlamini

Denel is getting itself back on an even keel, but needs further government guarantees

By: Rebecca Campbell     29th August 2018 State-owned defence industrial group Denel’s acting Group CEO Michael Kgobe assured the Parliamentary Portfolio Committee on Public Enterprises on Wednesday that the new Denel Board was carrying out comprehensive actions against corruption and dubious transactions, as well as to reinforce... 

Denel is getting itself back on an even keel, but needs further government guarantees

Kouga dam drop sparks water restrictions

By: Natasha Odendaal     29th August 2018 The Eastern Cape is facing water restrictions of 80% to avoid a looming water crisis across several towns in Gamtoos Valley as the Kouga dam’s water levels drop to 6.8%. The Department of Water and Sanitation (DWS) plans to introduce the restrictions after meeting with farmers from the... 

Nigeria's Presidency rebuffs landmark oil reform bill in current form – sources

By: Reuters     29th August 2018 Nigeria's Presidency has rebuffed a landmark oil industry reform law in its current form, according to two people familiar with the matter, in a setback for plans to reinvigorate investment in Africa's largest crude producer. The legislation, sent back to the National Assembly by the presidency,... 

VECV launches heavy-duty Eicher trucks, mulls bus entry

By: Irma Venter     29th August 2018 VE Commercial Vehicles (VECV) South Africa, a Volvo Group and Eicher Motors joint venture, has entered the domestic heavy-duty truck market, with the start of sale of its Pro 6000 series trucks. This will add to the Pro 3008 8.5 t gross vehicle mass (GVM) truck range introduced when the company... 

 VECV launches heavy-duty Eicher trucks, mulls bus entry
The Pro 6016

Water supply gradually being restored to Joburg after suspected sabotage

By: News24Wire      29th August 2018 Johannesburg residents breathed a collective sigh of relief as the water supply started gradually returning to their homes and businesses on Wednesday morning. Nico de Jager, member of the mayoral committee for environment and infrastructure services, on Wednesday urged residents to be patient as... 

FutureSpace opens second instant-access workspace in Sandton

By: Marleny Arnoldi     29th August 2018 FutureSpace has launched its second workspace, after the first space reached near capacity in just over a year.   FutureSpace is a joint venture between Investec Property and workplace specialists Giant Leap.   The new instant-access space is located in Rivonia, Sandton, a few blocks down from... 

BevSA appoints corporate services GM

By: Marleny Arnoldi     29th August 2018 The Beverage Association of South Africa (BevSA) has appointed Mpho Thothela GM for corporate services, effective August 1. Thothela will be responsible for BevSA’s marketing and communications, brand positioning and reputational management, financial management, revenue growth, budget... 

BevSA appoints corporate services GM
BevSA corporate services GM Mpho Thothela

Pikitup suspends waste collection in more areas

By: Marleny Arnoldi     29th August 2018 Waste manager Pikitup has suspended services in Orange Farm, Ivory Park and Midrand owing to continued threats of violence towards staff members and blocked access gates at some of Pikitup’s depots. Earlier this week, it suspended services in Soweto, amid protests by people wanting to be... 

Eskom needs to be 'rightsized' – Mabuza

By: Kim Cloete     28th August 2018 Eskom chairperson Jabu Mabuza says the utility is up to 33% overstaffed at all levels and may need to be "rightsized" in time. “We don't know whether we will downsize but we are determined to rightsize. We will do that within the confines of the Labour Relations Act. We can’t tell people here how... 

Eskom to sue Trillian; warns some dismissed Eskom employees still have their tentacles in the utility

By: Kim Cloete     28th August 2018 Eskom CEO Phakamani Hadebe says Eskom will continue to tighten the screws on implicated former and current employees and suppliers who have drained the utility of its resources and plunged it into debt. He told Parliament on Tuesday that Eskom would also sue Gupta-linked Trillian later this year... 

Dawn to cut staff, costs amid economic pressures

By: Creamer Media Reporter      28th August 2018 JSE-listed Distribution and Warehousing Network (Dawn) will implement a large-scale cost reduction plan to position the company for recovery. It said on Tuesday that the plan will entail a significant cost reduction in terms of the company's head office, through a staff reduction and reduced... 

Manufacturers continue to invest, despite tough market conditions

By: Simone Liedtke     28th August 2018 With tough economic conditions continuing to impact on manufacturers, the Manufacturing Circle Investment Tracker (MCIT) index for the second quarter of 2018 saw a marginal decrease from 59 index points to 58. Despite this marginal decrease, Manufacturing Circle (MC) executive Philippa Rodseth... 

Coal suppliers urged to put South Africa first 

By: Kim Cloete     28th August 2018 Public Enterprises Minister Pravin Gordhan has suggested that Parliament call in some of the big and small coal suppliers to account for their export of coal, amid increasing concerns about the shortage of coal in the country. Gordhan was speaking after several Members of Parliament suggested... 

Coal suppliers urged to put South Africa first

Untu warns against PRASA’s continued safety noncompliance

By: Marleny Arnoldi     28th August 2018 The United National Transport Union (Untu) believes government and Transport Minister Blade Nzimande can be held accountable for any injuries incurred by employees or commuters of the Passenger Rail Agency of South Africa (PRASA), owing to “blatant disregard” for basic safety procedures set down... 

Global mining showing interest in Master Drilling’s new technology  

By: Martin Creamer     28th August 2018 The mining industry is showing strong interest in the new blast-free mobile tunnel boring machine that South African company Master Drilling will launch in Italy next month. This interest is exemplified by 32 mining executives from mining jurisdictions across the world making themselves available... 

Global mining showing interest in Master Drilling’s new technology
Master Drilling CEO Danie Pretorius interviewed by Mining Weekly Online’s Martin Creamer. Video and Video Editing: Darlene Creamer. Photographs: Dylan Slater

Insimbi acquires Group Wreck for R120m

By: Marleny Arnoldi     28th August 2018 JSE-listed Insimbi Industrial Holdings is acquiring scrap metal recycler Group Wreck International for R120-million. “Insimbi needs to grow by acquiring businesses that complement the existing Insimbi businesses and are accretive to earnings,” said Insimbi CEO Fred Botha.  

Eskom gives up debt to equity conversion plan – Mabuza

By: African News Agency      28th August 2018 Eskom has shelved plans to ask the Public Investment Corporation (PIC) to convert some of its debt to equity, Eskom chairperson Jabu Mabuza told MPs on Tuesday. "We are not asking anybody to convert debt," he told a joint meeting of the portfolio committees on energy and public enterprises 

 Eskom gives up debt to equity conversion plan – Mabuza
Photo by Dylan Slater
Eskom chairperson Jabu Mabuza

US Trade and Development Agency grants $1.2m funding for Mozambique solar project

By: Marleny Arnoldi     28th August 2018 Investment bank Fieldstone has assisted WHN Solar to raise grant funding of almost $1.2-million for a solar energy project in Mozambique. The funding was conferred by the US Trade and Development Agency for a feasibility study to assess the viability of a photovoltaic plant of up to 100 MW to... 

Sea Harvest acquires Ladismith Cheese for R527m

By: Marleny Arnoldi     28th August 2018 JSE-listed fishing and food business Sea Harvest’s Cape Harvest Food Group subsidiary has concluded a share purchase agreement to acquire dairy processing company Ladismith Cheese for R527-million. The transaction represents the acquisition of a profitable branded fast-moving consumer goods... 

Eskom to sue Trillian to recover R600-million

By: African News Agency      28th August 2018 Eskom will sue Trillian later this year to recover R600-million from the firm linked to the infamous Gupta family, the utility's CEO Phakamani Radebe told MPs on Tuesday. "In December we will be going to court to face up to Trillion to demand our R600-million," Radebe told a joint sitting of... 

 Eskom to sue Trillian to recover R600-million

De Beers, UN Women to support women micro-entrepreneurs in South Africa

By: Simone Liedtke     28th August 2018 Diamond miner De Beers and the United Nations Entity for Gender Equality and the Empowerment of Women (UN Women) in South Africa have launched a capacity-building programme, which aims to support 500 women micro-entrepreneurs in the Blouberg and Musina communities, near De Beers’ Venetia diamond... 

Cashbuild expansion strategy places retailer in good position to reap rewards

By: Simone Liedtke     28th August 2018 Despite demanding trading conditions, South African retailer Cashbuild on Tuesday announced that it has, for the first time, exceeded the R10-billion group revenue mark. Cashbuild CE Werner de Jager attributed the 5% year-on-year growth in group revenue largely to the 42 new stores that were... 

Gupta revealed 'top secret' Denel matter – Mentor

By: African News Agency      28th August 2018 Ajay Gupta revealed top secret information regarding state-owned arms manufacturer Denel during a meeting at the family's Saxonwold compound, former African National Congress (ANC) parliamentarian Vytjie Mentor testified at the state capture commission of inquiry on Tuesday. This was a meeting... 

MSQ, Coega SEZ to build R100m medical device factory

By: Shirley le Guern     28th August 2018 South African healthcare company MSQ is positioning itself to become South Africa’s third active pharmaceutical ingredient (API) manufacturer. The company, which has set its sights on becoming a market leader in a sector dominated by imports, has teamed up with the Coega Special Economic Zone... 

MSQ, Coega SEZ to build R100m medical device factory
Coega SEZ portfolio developer Asanda Vos, MSQ director Themba Nyembezi, MSQ CEO Dr Nhlanhla Msomi, Coega SEZ business development executive director Christopher Mashigo, MSQ COO Dr Carl Montague, MSQ manufacturing operations manager Mzingisi Tshicila and MSQ Pharma MD Glen Sullivan.

Johannesburg Water races to deliver emergency measures after fire at Eikenhoff pump station

By: News24Wire      28th August 2018 Johannesburg Water has placed water tankers at strategic locations across the city to assist residents after a power outage caused by a fire at the Eikenhoff pump station resulted in large parts of Johannesburg being without water. The fire, which happened on Monday night, affected the pump... 

Solidarity to strike at Sasol over black staff scheme

By: Reuters     28th August 2018 South Africa's mainly white Solidarity union has given Sasol a 48-hour notice to strike over the energy giant's plan to launch a share ownership scheme exclusively for black staff, the union said on Tuesday. "This type of crude racial exclusion cannot be tolerated any longer. These white workers... 

China says projects not to blame for majority of Africa debt

By: Reuters     28th August 2018 Chinese development projects do not account for a majority of the debt on African countries, a senior Chinese official said on Tuesday ahead of a summit with African leaders in Beijing next week. China's "Belt and Road" initiative has been praised by supporters for providing vital financing to... 

Britain supports South African land reform – PM May 

By: Reuters     28th August 2018 Britain supports South Africa's land reform programme provided it is carried out legally, Prime Minister Theresa May said in Cape Town on Tuesday, adding that she would discuss the issue with President Cyril Ramaphosa. "The UK has for some time now supported land reform. Land reform that is... 

Britain supports South African land reform – PM May
Photo by Reuters
British Prime Minister Theresa May

AfDB, FAO to collaborate again on boosting agriculture investments in Africa

By: Marleny Arnoldi     28th August 2018 The African Development Bank (AfDB) and the United Nations’ Food and Agriculture Organisation (FAO) have agreed to strengthen joint efforts aimed at growing agriculture sector investments in Africa. The organisations will raise up to $100-million over five years to support these activities,... 

Solar body raises concern over procurement gap, as lobby group slams inclusion of IPP coal

By: Terence Creamer     28th August 2018 The South Africa Photovoltaic Industry Association (SAPVIA) has added its voice to concerns being expressed over the three-year gap outlined in the draft Integrated Resource Plan (IRP 2018) during which no allocations have been made for new renewable-energy capacity additions. In a statement,... 

Solar body raises concern over procurement gap, as lobby group slams inclusion of IPP coal

Master Drilling mulling year-end dividend, launching blast-free borer

By: Martin Creamer     28th August 2018 Innovative drilling technologies company Master Drilling, which will next month launch a new blast-free mobile tunnel boring machine that is expected to have a far-reaching beneficial impact on mining, on Tuesday reported satisfactory results for the six months ended June 30. The Johannesburg... 

Master Drilling mulling year-end dividend, launching blast-free borer
Photo by Creamer Media
Master Drilling CEO Danie Pretorius

The 5%, 50% and 360 km/h of Gauteng’s e-toll network 

By: Irma Venter     28th August 2018 Little is known about the numbers of the Gauteng open-road toll network (GORT), beyond the well publicised 70% of users who don’t pay their toll bills. However, South Africa’s first electronic toll collection system has laid bare an interesting array of data since its 2010 inception. For example,... 

The 5%, 50% and 360 km/h of Gauteng’s e-toll network

Agricultural organisations commit to developing national strategy

By: Simone Liedtke     27th August 2018 The presidents of the African Farmers Association of South Africa (Afasa), the National African Farmers Union of South Africa (Nafu SA), Agri SA and the Transvaal Agricultural Union of South Africa (Tau-SA), as members of the Agri Sector Unity Forum (Asuf), on Monday declared their intent to work... 

Agricultural organisations commit to developing national strategy

Gemgrow expands its retail property portfolio through R728m investment

By: Marleny Arnoldi     27th August 2018 Real estate investment trust Gemgrow has acquired an effective economic interest of 95% in Moolgem, for about R628-million, yielding 11.48%. The Moolgem portfolio comprises 85% retail, and has 26 properties in the Limpopo region, including retail centres Jane Furse Crossing and Game Centre.  

Crude steel production, capacity utilisation ratio increase y/y in July

By: Marleny Arnoldi     27th August 2018 Global crude steel production for the 64 countries reporting to the World Steel Association was 154.6-million tonnes in July – a 5.8% year-on-year increase. China contributed 81.2-million tonnes of crude steel in July, a 7.2% year-on-year increase. Japan produced 8.4-million tonnes, which is... 

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