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Latest News

South Africa’s IDC invests R100m in Lucapa’s Lesotho mine

By: Esmarie Iannucci     25th October 2018 Diamond miner Lucapa Diamond Company has secured a R100-million development facility from the Industrial Development Corporation of South Africa (IDC) for its Mothae kimberlite diamond mine, in Lesotho. The facility will span a four-year period, and will include a 12-month moratorium on capital... 

Anheuser-Busch InBev third quarter revenue up 4.5%

By: African News Agency      25th October 2018 The world's largest brewer Anheuser-Busch InBev said on Thursday its revenue grew by 4.5% in the third quarter, while total volumes were up 0.2%. AB Inbev said ​good growth in own beer volumes achieved in Europe, Mexico and many African markets during the quarter were partially offset by Brazil... 

Danone Southern Africa joins Polystyrene Association of South Africa

By: Simone Liedtke     25th October 2018 Danone Southern Africa (Danone SA) has become the latest producer of high-impact polystyrene (HIPS) to join the Polystyrene Association of South Africa, which represents the entire value chain of polystyrene packaging manufacturers, collectors and recyclers. According to the association’s CE Adri... 

Danone Southern Africa joins Polystyrene Association of South Africa
Danone SA MD Hendrik Born

Mali's first independent power project to start up next week

By: Reuters     25th October 2018 Mali's first independent power project – a €122-million ($139.06-million), 90 MW diesel plant – will go online next week in the country's gold-rich southwest, a board member of the operator said on Wednesday. The new plant could spur more of the foreign investment Mali has struggled to attract... 

Announcement on preferred bidder for Gautrain rolling stock expected by year-end

By: Irma Venter     25th October 2018 The preferred bidder in the race to provide 12 new four-car trains to the Gautrain system should be announced by the end of the year, says Gautrain Management Agency (GMA) CEO Jack van der Merwe.   The announcement was originally expected in August. The Gautrain system currently operates 96... 

Announcement on preferred bidder for Gautrain rolling stock expected by year-end

Concerned citizens have their say on IRP 2018 

By: Kim Cloete     24th October 2018 Concerned citizens and activists have come to Parliament to speak out about the draft Integrated Resource Plan (IRP), with fracking, high electricity tariffs and coal-fired power stations among their concerns. Ann October from the Eastridge Women’s Circle in Mitchell’s Plain, Cape Town, said... 

Tourism trend changes present opportunities

By: Tasneem Bulbulia     24th October 2018 Growing South Africa’s tourism industry will depend on an understanding of, and the industry’s reaction to, changing trends in the global tourism industry. Speakers at the South Africa-Italy summit, on Wednesday, pointed out that tourist destination preferences were changing and that there was an... 

Cosatu calls for overhaul of draft IRP

By: Kim Cloete     24th October 2018 The Congress of South African Trade Unions (Cosatu) has rejected the draft Integrated Resource Plan (IRP) 2018, calling for an overhaul. It also called for a firm commitment not to retrench workers as well as tougher, hard-hitting plans to halt looting and recover money stolen from Eskom. 

Aviation safety depends on recruiting the right people

By: Rebecca Campbell     24th October 2018 The maintenance of aviation safety depends upon people, Namibian Prime Minister's Office Cabinet Secretary Dr George Simataa told the AVI Afrique Innovation Summit 2018 in Pretoria on Wednesday. "People are the most important assets in your organisations," he stressed. "People, and not technology... 

Mboweni throws NHI R500m lifeline

By: African News Agency      24th October 2018 Finance Minister Tito Mboweni said on Wednesday that government would be reprioritising R546-million within the National Health Insurance (NHI) indirect grant to address the critical shortage of medical professionals and to procure beds and linen for public healthcare facilities. The NHI is... 

Mboweni throws NHI R500m lifeline
Finance Minister Tito Mboweni

I will try to protect Treasury from political meddling – Mboweni 

By: African News Agency      24th October 2018 Finance Minister Tito Mboweni on Wednesday said he would strive to protect the National Treasury from political interference but conceded that he would be naive to think he could succeed. "I thought one thing I am going to try to do is provide political protection to National Treasury or to the... 

I will try to protect Treasury from political meddling – Mboweni
Finance Minister Tito Mboweni

Govt commits support for clothing, textiles sector and emerging farmers  

By: Marleny Arnoldi     24th October 2018 The National Treasury has, over the medium term, placed incentives for agriculture, land reform, manufacturing and research and development among its priorities for expenditure reprioritisation. The Clothing and Textile Competitiveness Programme has helped sector exports grow from R7.1-billion in... 

Govt commits support for clothing, textiles sector and emerging farmers

SAA allocated R5bn for debt relief

By: Marleny Arnoldi     24th October 2018 State-owned South African Airways (SAA) will receive R5-billion through a special appropriation Bill to settle debt redeeming between now and March 2019. The Medium Term Budget Policy Statement (MTBPS), which was released by the National Treasury on Wednesday, stated that the funds would help to... 

SAA allocated R5bn for debt relief

Employment Tax Initiative extended to February 2029

By: Marleny Arnoldi     24th October 2018 The National Treasury has given the go-ahead for an extension of the Employment Tax Initiative (ETI) to February 2029. The sunset date would have been February 29, 2019. 

Move to tackle VAT refund backlog lops billions off revenue forecast 

By: Marleny Arnoldi     24th October 2018 The National Treasury has lowered its revenue collection forecast for 2018/19 by R27.4-billion, largely as a result of belated moves by South African Revenue Service (Sars) to address a major backlog value-added tax (VAT) refunds. The issue of delayed repayments has been a major bone of... 

Move to tackle VAT refund backlog lops billions off revenue forecast

Mboweni suggests need to downsize Cabinet, says public wage bill is 'unsustainable' 

By: Marleny Arnoldi     24th October 2018 Finance Minister Tito Mboweni on Wednesday said the public service wage bill, which accounts for 36% of government spending, is unsustainable. The public sector wage bill should be closer to 30% of government spending, he added during his maiden Medium Term Budget Policy Statement speech. 

Mboweni suggests need to downsize Cabinet, says public wage bill is 'unsustainable'

Mboweni calls for ‘open-minded’ approach to reconfiguration of State firms 

By: Terence Creamer     24th October 2018 Finance Minister Tito Mboweni has called for a reconfiguration of South Africa’s debt-laden State-owned companies (SoCs) and has appealed to stakeholders to adopt an open-mind with regard to the form such restructuring could take, particularly in the cases of Eskom and South African Airways... 

Mboweni calls for ‘open-minded’ approach to reconfiguration of State firms

Government allocates R2.9bn for Post Office

By: Marleny Arnoldi     24th October 2018 The South African Post Office (Sapo) will receive R2.9-billion over the next three years to reduce its debt levels, the National Treasury revealed on Wednesday. Sapo has faced financial difficulties and liquidity problems since 2007. Daily Maverick in May reported that Sapo owed many of its... 

Government allocates R2.9bn for Post Office

Infrastructure at heart of reprioritised, stimulus-aligned expenditure plan 

By: Terence Creamer     24th October 2018 Finance Minister Tito Mboweni has confirmed that expenditure worth R32.4-billion will be reprioritised over the coming three years in line with government’s recently released Economic Stimulus and Recovery Plan. The figure appeared to fall short of the R50-billion reprioritisation target outlined... 

Infrastructure at heart of reprioritised, stimulus-aligned expenditure plan
Finance Minister Tito Mboweni

Don’t limit renewables in IRP, urges prominent activist

By: Kim Cloete     24th October 2018 Prominent activist Liz McDaid has called on the government not to limit the construction of renewable energy capacity under the draft Integrated Resource Plan (IRP) 2018. “A look at the IRP says renewables must be constrained. The rationale for restricting renewables is to pull nuclear or coal... 

South Africa welcomes product exclusion for some steel, aluminium products from Section 232 duties

By: Simone Liedtke     24th October 2018 Following an announcement that the US Department of Commerce has granted product exemptions for certain aluminium and steel products, Trade and Industry Minister Dr Rob Davies on Wednesday welcomed the positive developments as a step towards normalising trade relations between South Africa and... 

Consumer Price Inflation stays 4.9%

By: African News Agency      24th October 2018 The Consumer Price Inflation remained at 4.9% in September 2018, unchanged from August 2018, Statistics SA said Wednesday morning. "The consumer price index increased by 0.5% month-on-month in September 2018. Annual inflation for food and non-alcoholic beverages increased to 3.9% in September... 

Consumer Price Inflation stays 4.9%

Long4Life posts first-half profit, but no dividend

By: Reuters     24th October 2018 South African investment firm Long4Life swung into a trading profit in the half-year to end August, it said on Wednesday, as asset acquisitions became effective, lifting group sales. The firm, owned by Brian Joffe, one of South Africa's most respected dealmakers, has acquired among other brands... 

Mashaba calls for more partnerships during South Africa–Italy Summit

By: Tasneem Bulbulia     24th October 2018 Johannesburg mayor Herman Mashaba has called for more partnerships and better collaboration between South Africa and Italy, as part of efforts to grow the economy. Speaking at the South Africa–Italy Summit/Indaba, he pointed out that the two countries had good trade relations, but encouraged... 

PIC buys into Africa's biggest feedlot in $365m deal

By: Bloomberg     24th October 2018 The Public Investment Corporation (PIC) and black economic empowerment group Pelo Agricultural Ventures agreed to pay as much as R5.2-billion ($365-million) for a majority stake in Karan Beef, which operates the continent’s largest cattle feedlot and abattoir. Founded by the Karan family on their... 

Sars did not implement R200m IT restructuring model, inquiry hears

By: African News Agency      24th October 2018 The R200-million information technology (IT) modernisation model that was developed by a consultancy firm hired by suspended South African Revenue Services (Sars) commissioner Tom Moyane to revive and restructure the revenue service's IT was never implemented, the Nugent Commission of Inquiry... 

Gauteng dams almost 100% full, Western Cape levels stable

By: News24Wire      24th October 2018 Gauteng dam levels are at a whopping 98%, according to a weekly Department of Water and Sanitation report. The latest levels, following heavy rains in the province last weekend, make the dams the fullest in the country, the department said. It said the levels were 12% higher than those recorded... 

Kenya sets aside funds to develop domestic mobile phone industry

By: Reuters     24th October 2018 Kenya's minister of information, communication and technology said on Tuesday that the government had set aside one-billion shillings ($9.90-million) to help local start-ups in the mobile telephone software and hardware segments to grow. Joe Mucheru, the ICT minister, told the annual meeting of... 

SKA South Africa confident radio interference issues with aviation will be solved

By: Rebecca Campbell     24th October 2018 South African Radio Astronomy Observatory (SARAO) strategy and business systems head Dr Adrian Tiplady told Engineering News Online on Tuesday that he was certain that concerns regarding radio frequency interference (RFI) on the SKA telescope from aircraft, and the need to maintain aviation... 

SKA South Africa confident radio interference issues with aviation will be solved
Photo by Dylan Slater
The MeerKAT radio telescope array

NGOs call for more time to deliberate on the draft IRP

By: Kim Cloete     23rd October 2018 Earthlife Africa has called for more time to deliberate on the draft Integrated Resource Plan (IRP), saying the 60-day period for public comment is "highly ambitious" and many citizens have been left out of the process. Makoma Lekalakala of Earthlife Africa said South Africans had a right to... 

Nersa unveils adjudication schedule for Eskom’s 15% hike application

By: Terence Creamer     23rd October 2018 The National Energy Regulator of South African (Nersa) has unveiled its adjudication timetable for Eskom’s fourth multiyear price determination (MYPD4) revenue application, which will include public hearings in all nine provinces between January 14 and February 1, 2019. The regulator has also... 

Nersa unveils adjudication schedule for Eskom’s 15% hike application

Intermodal transport systems vital for growth in South Africa, SADC region 

By: Tasneem Bulbulia     23rd October 2018 Intermodal transport systems are vital for economic growth and development in South Africa and the Southern African Development Community (SADC) region, Gauteng Roads and Transport MEC Dr Ismail Vadi said during a presentation at the fifth edition of the South Africa-Italy Summit/Indaba on... 

Intermodal transport systems vital for growth in South Africa, SADC region
Gauteng Roads and Transport MEC Dr Ismail Vadi outlines the need for intermodal transport systems in South Africa and the rest of the Southern African Development Community region. Video and editing: Nicholas Boyd.

Parliament hears call to cut air pollution, improve health 

By: Kim Cloete     23rd October 2018 Government has a golden opportunity to improve public health in South Africa and mitigate global climate change if it drops plans for the construction of more coal-fired power stations and focuses more sharply on renewable energy in its Integrated Resource Plan (IRP), says the Public Health... 

Shoprite to pay South African customers for reusing plastic bags

By: Reuters     23rd October 2018 Shoprite Holdings, South Africa's biggest supermarket chain, said on Tuesday it would pay customers for reusing its newly introduced recyclable bag as it joined domestic rivals in efforts to curb plastic pollution. Supermarkets have come under increased pressure to cut their use of plastic as... 

AfDB reports another year of sustained indicators

By: Simone Liedtke     23rd October 2018 Ahead of its maiden African Investment Forum (AIF) in November, the African Development Bank (AfDB) has reported another year of sustained indicators for 2017, underlined by a Triple A rating by all three major agencies and sharply increased earnings. The bank noted in a statement released on... 

Solidarity Movement to serve court papers on Sasol on Thursday

By: Simone Liedtke     23rd October 2018 On Thursday, thousands of Solidarity Movement members will serve court papers on integrated energy and chemicals company Sasol at its head office in Sandton. The serving of the court documents comes in the wake of a dispute between Sasol and Solidarity over the exclusion of white employees from... 

There is room for more ride-hailing services, says Taxify country manager

By: Irma Venter     23rd October 2018 Taxify believes there is room for another electronic ride-hailing service in South Africa. US-based Uber started operations in South Africa in 2013, with Estonia’s Taxify moving into the country in 2016. 

 There is room for more ride-hailing services, says Taxify country manager

Grindrod buys marine support services business

By: Nadine James     23rd October 2018 JSE-listed Grindrod said on Tuesday that the recently announced acquisition of the Novagroup from Pescanova would enhance its service and product offering, as well as expand its footprint in southern Africa. Nova was established in the 1960s to deliver support services to the maritime industry,... 

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