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Macro and Micro News

DMR to brief Western Cape communities on shale gas development

By: Megan van Wyngaardt     21st April 2017 Mineral Resources Deputy Minister Godfrey Oliphant will on Tuesday host an information-sharing session with interested and affected communities and organisations in the Western Cape on the potential of shale gas development through hydraulic fracturing, or fracking. The Deputy Minister will... 

AfriForum seeks access to work permits of Cuban engineers employed by DWS

By: Megan van Wyngaardt     21st April 2017 Civil rights organisation AfriForum has brought an application in terms of the Promotion of Access to Information Act against the Department of Water and Sanitation (DWS), seeking access to the work permits of 31 Cuban engineers employed by the DWS. AfriForum reports that Water and Sanitation... 

Eskom confirms it wants exemption from ‘areas’ of national procurement regulations for nuclear

By: Megan van Wyngaardt     21st April 2017 State-owned power Eskom on Friday confirmed in a statement that it had raised concerns with National Treasury about “areas” of the current procurement regulations, specifically mentioning waivers of certain evaluation criteria that would be required to facilitate the “proposed nuclear new build... 

Eskom confirms it wants exemption from ‘areas’ of national procurement regulations for nuclear

Trump administration, world financial officials clash over trade

By: Reuters     21st April 2017 The Trump administration had a simple but stark message for world financial leaders who gathered in Washington on Thursday amid worries about rising US protectionism: fair trade means tit-for-tat tariffs. Speaking to bankers just hours after the formal start of the International Monetary Fund and... 

South Africa punching below its weight despite available opportunities – Frost & Sullivan

By: Megan van Wyngaardt     20th April 2017 Despite the political turmoil and fiscal downgrades facing the country, South Africa’s economy is set to grow by 0.8% this year, research firm Frost & Sullivan said on Thursday. In a webinar on its Global Economic Outlook 2017, Frost & Sullivan senior economist Craig Parker noted that economic... 

Political decisions, downgrades push policy uncertainty into negative territory 

By: Anine Kilian     20th April 2017 The North-West University (NWU) School of Business and Governance’s Policy Uncertainty Index (PUI) increased to 51 in the first quarter of this year, putting it in negative territory. The PUI was at 38.8 in the fourth quarter of 2016. An increase to above 50 reflects heightened policy... 

Political decisions, downgrades push policy uncertainty into negative territory
Professor Raymond Parsons speaks to Engineering News Online about the reasons for the PUI spike in the first quarter of 2017

South Africa accounts for 59% of outbound M&A activity in sub-Saharan Africa

By: Megan van Wyngaardt     20th April 2017 The value of announced merger and acquisition (M&A) transactions, with any sub-Saharan African involvement, reached $10.1-billion during the first quarter of 2017, the highest opening quarter total in six years, research firm Thomson Reuters Africa has found. In its sub-Saharan African deals... 

Land Bank sets aside R1bn to support black farming investments in 2017  

By: Terence Creamer     20th April 2017 South Africa’s Land Bank has set a target of disbursing “at least” R1-billion in 2017/18 to support investments by black entrepreneurs in the agricultural sector and to begin transforming a loan book that is still overwhelmingly composed of funding to established commercial farmers. Should the... 

Land Bank sets aside R1bn to support black farming investments in 2017
Land Bank CEO TP Nchocho on plans to increase the pace and scale of support for black farmers. Camera Work: Nicholas Boyd. Editing: Lionel da Silva. Recorded: 20.04.2014

Mastercard tests new biometric cards in South Africa

By: Megan van Wyngaardt     20th April 2017 South Africa is the first market to test payment technology provider Mastercard’s next-generation biometric card, which combines chip technology with fingerprints to conveniently and safely store a cardholder’s identity for in-store purchases. Two separate trials with retailer Pick ‘n Pay and... 

New study ranks South Africa fourth most attractive investment destination in Africa

By: African News Agency      20th April 2017 South Africa has been ranked as the fourth most attractive economy for investments flowing into Africa. This is according to the latest Africa Investment Index 2016 by Quantum Global’s independent research arm, Quantum Global Research Lab published on Wednesday. 

'We will not allow institutions of our State to be captured' – Ramaphosa 

By: News24Wire      20th April 2017 Do not allow revolutionary sounding slogans to hoodwink the public, Deputy President Cyril Ramaphosa said. Speaking at a Black Business Council event in Sandton, Johannesburg on Wednesday evening, Ramaphosa said some were attempting to appropriate the democratic movement, along with its history,... 

'We will not allow institutions of our State to be captured' – Ramaphosa
Deputy President Cyril Ramaphosa

South Africa could suffer further downgrades if political uncertainty stalls growth – S&P's

By: Reuters     20th April 2017 South Africa's credit rating could get downgraded deeper into junk status if political uncertainty triggered by the recent firing of the finance minister stalls reforms needed to grow the economy, an executive from S&P Global Ratings said on Wednesday. "There are risks that potential growth... 

Transformation of SA economy non-negotiable – Ramaphosa

By: News24Wire      20th April 2017 The transformation of South Africa's economy is inevitable, Deputy President Cyril Ramaphosa said on Wednesday evening. He was speaking at the Black Business Council dinner under the theme Economic Recovery. 

Transformation of SA economy non-negotiable – Ramaphosa
Deputy President Cyril Ramaphosa

Recruitment process for new Eskom CEO to be concluded by end-May

By: Megan van Wyngaardt     19th April 2017 Public Enterprises Minister Lynne Brown expects the recruitment process for a new CEO at Eskom to be concluded by the end of May. Matshela Koko has been acting CEO since November 2016, when Brian Molefe resigned as CEO, following the release of a Public Protector report alleging his involvement... 

Recruitment process for new Eskom CEO to be concluded by end-May
Photo by Duane Daws
Minister Lynne Brown and Eskom CEO Matshela Koko

CMH achieves good results, but worries about political turmoil

By: Megan van Wyngaardt     19th April 2017 Despite a difficult year in the motoring industry, JSE-listed Combined Motor Holdings (CMH) on Wednesday said it still achieved “commendable results”, delivering a 17.8% increase in basic earnings a share, a 14.8% increase in headline earnings a share and a 25.6% improvement in dividends a share... 

Energy Minister reveals extent of executive vacancies at State-owned energy entities 

By: Megan van Wyngaardt     19th April 2017 Several executive positions in the country’s State-owned energy entities have remained vacant for a year or more, a written Parliamentary reply by Energy Minister Mmamoloko Kubayi reveals. The Petroleum Agency of South Africa (PASA) has now been without a CEO for five years. 

New Treasury DG will be in ‘proud tradition’ of Ramos, Kganyago and Fuzile

By: Terence Creamer     19th April 2017 Finance Minister Malusi Gigaba intends to appoint a new National Treasury director-general by the end of May, following the announcement of Lungisa Fuzile’s imminent departure from a post he has occupied for the past six years. Both ratings agencies and investors have been unsettled by Fuzile’s... 

New Treasury DG will be in ‘proud tradition’ of Ramos, Kganyago and Fuzile
Lungisa Fuzile

Recent political shifts in South Africa could impact on continent’s M&A activity – Baker McKenzie index

By: Megan van Wyngaardt     19th April 2017 Political turbulence and economic uncertainty are becoming the new normal for deal makers; however, the impact on global mergers and acquisitions (M&A) activity has not been as steep as many expected, multinational law firm Baker McKenzie's Cross-Border M&A Index has shown. It noted that while... 

Gigaba dismisses adviser's nationalisation call, seeks to calm investors 

By: Reuters     19th April 2017 South Africa's Finance Minister dismissed calls from one of his own advisers for the nationalisation of banks and mines on Wednesday, and acknowledged that investors had been unsettled by turmoil surrounding his ministry. Malusi Gigaba, appointed in an abrupt reshuffle late last month that shook... 

Gigaba dismisses adviser's nationalisation call, seeks to calm investors
Photo by Bloomberg
Finance Minister Malusi Gigaba

IMF raises global growth forecast, warns against protectionism

By: Reuters     19th April 2017 The International Monetary Fund raised its 2017 global growth forecast on Tuesday due to manufacturing and trade gains in Europe, Japan and China, but warned that protectionist policies threaten to choke a broad-based recovery. The IMF, whose spring meetings with the World Bank get underway in... 

Governments worldwide could save $1tr by adopting procurement best practices – McKinsey

By: Terence Creamer     19th April 2017 Governments worldwide could reduce their current purchasing bill by 15%, or a combined $1-trillion, if they were to adopt best-practice procurement disciplines, a new study by the McKinsey Center for Government (MCG) claims. The study, titled ‘Government Productivity: Unlocking the $3.5-trillion... 

Governments worldwide could save $1tr by adopting procurement best practices – McKinsey

Dawn appoints new CFO

By: Megan van Wyngaardt     18th April 2017 JSE-listed Distribution and Warehousing Network, or Dawn, has appointed Chris Booyens as its CFO and FD, effective May 1. A qualified chartered accountant, Booyens has several years’ experience in the building industry as Iliad Africa group FD. He also previously served as financial executive and... 

Johannesburg residents face rates, tariff increases 

By: Megan van Wyngaardt     18th April 2017 The City of Johannesburg will increase its rates and tariffs for 2017/18 by an average of 12.2% for water and sanitation, 2.8% for electricity, 6.1% for refuse removal and 6.2% for property. In a presentation on the city’s Integrated Development Plan for the next five years, Mayor Herman Mashaba... 

Johannesburg residents face rates, tariff increases

Govt not delaying Vredefort Dome’s heritage proclamation – Molewa

By: Megan van Wyngaardt     18th April 2017 Concerns of landowners within the Vredefort Dome, in the Free State, are preventing government from proclaiming the area as a world heritage site, says Environmental Affairs Minister Edna Molewa. In a written reply to a Parliamentary question, published on Tuesday, she said the area, which was... 

Nationalisation of banks is not government policy – Treasury 

By: African News Agency      18th April 2017 National Treasury on Tuesday distanced itself from an opinion piece written by Professor Chris Malikane, an economic adviser to the Minister of Finance Malusi Gigaba, saying that the nationalisation of banks is not government policy. This comes after Malikane, an economics professor at the... 

Nationalisation of banks is not government policy – Treasury

IMF says agrees to pay Tunisia's delayed loan tranche

By: Reuters     18th April 2017 The International Monetary Fund (IMF) has agreed to pay out a $320-million second tranche of Tunisia's loan programme after talks to agree on the government's reform priorities, the IMF Tunisia mission chief said on Monday. The portion of the $2.8-billion loan programme was delayed from December... 

Free State special economic zone to launch at month-end

By: Megan van Wyngaardt     18th April 2017 In its efforts to accelerate economic growth and development in designated regions of the country, government is set to launch the Maluti-A-Phofung Special Economic Zone (MAP-SEZ) in Tshiame, near Harrismith, in the eastern Free State, on April 25. Trade and Industry Minister Dr Rob Davies said... 

De Lille to address Cape Town drought intervention plans 

By: News24Wire      18th April 2017 Cape Town mayor Patricia de Lille will join a panel discussion on Tuesday to discuss the city's interventions in the metro's drought crisis. De Lille will address the Climate Change Coalition at Green Point Urban Park, and will also discuss the city's stance on climate change, and the risks... 

Tourism supports 1 in 10 jobs

By: News24Wire      18th April 2017 Travel and tourism generated 1 in 10 of the world’s jobs in 2016, according to a new report by the World Travel & Tourism Council (WTTC). WTTC’s Economic Impact Report 2017, which is conducted in conjunction with Oxford Economics, researches the economic impact of travel and tourism on a global... 

Tourism supports 1 in 10 jobs

Gigaba pledges to stave off third downgrade, meet with Moody's

By: Reuters     13th April 2017 South Africa's new Finance Minister pledged on Thursday to do what he can to keep the country from a third credit downgrade to junk status, saying he would meet ratings firm Moody's to persuade it he will stay on the path of fiscal discipline. Malusi Gigaba, who replaced the respected Pravin... 

Gigaba pledges to stave off third downgrade, meet with Moody's
Photo by Bloomberg
Finance Minister Malusi Gigaba

Seifsa extends deadline for excellence awards entries to April 28

By: Megan van Wyngaardt     13th April 2017 The Steel and Engineering Industries Federation of Southern Africa (Seifsa) has extended the deadline for entries for its Awards for Excellence for 2017 to April 28, to afford more companies time to submit entries. “After countless queries from interested companies in the metals and engineering... 

DEA to delve into plastic bag recycling saga

By: Megan van Wyngaardt     13th April 2017 The Department of Environmental Affairs (DEA) will be liaising with the National Regulator for Compulsory Specifications (NRCS) and the South African Bureau of Standards to ensure that manufacturers of plastic carrier bags comply with regulatory requirements and standards, it says. This follows... 

Public Works seeks to create 1.4m work opportunities this year 

By: Megan van Wyngaardt     13th April 2017 Newly appointed Public Works Minister Nkosinathi Nhleko on Thursday said he was confident that his department would meet its target of creating six-million work opportunities by the end of March 2019. Through its Expanded Public Works Programme the department has, since 2014, created over... 

Barloworld launches incubation hub to assist SMME development 

     13th April 2017 Barloworld launched its Incubation Hub at its Barlow Park head office in Johannesburg, last month to assist small business suppliers and companies operating in its value chain in overcoming challenges, including market access, finance and skills that commonly impact on small, medium-sized and... 

Barloworld launches incubation hub to assist SMME development
Barloworld launches incubation hub to assist SMME development

In win for Boeing and GE, Trump says he wants to revive export bank

By: Reuters     13th April 2017 President Donald Trump plans to revive the hobbled Export-Import Bank of the United States, his office said, a victory for American manufacturers like Boeing and General Electric (GE) which have overseas customers that use the agency's government-backed loans to purchase their products. Trump... 

Trade expectations hit low point in March and will decline further, warns Sacci

By: Megan van Wyngaardt     12th April 2017 The South African Chamber of Commerce and Industry’s (Sacci’s) seasonally adjusted six-month trade expectations index (TEI) declined from 61 in February to 51 in March – the weakest level since April 2016. The non-seasonally adjusted TEI weakened even more markedly and declined from 63 to 51... 

Fresh produce markets, agents critical to enabling market access – association

By: Megan van Wyngaardt     12th April 2017 The agency system of sales in the South African fresh product market is “definitely not under siege”, as suggested by the recent Competition Commission raids, say Produce Marketing Association Southern Africa GM Lindie Stroebel and ZZ2 CEO Tommie van Zyl. The commission, last month, held search... 

Fresh produce markets, agents critical to enabling market access – association
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