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Macro and Micro News

KSB Pumps and Valves obtains Level 1 BBBEE certification

By: Simone Liedtke     25th September 2018 Global pump manufacturer KSB Pumps and Valves has obtained Level 1 broad-based black economic empowerment (BBBEE) certification. This follows the acquisition of a 30% equity stake in the company by black women-owned firm Insikazi Synergies, which has joined the KSB board to play an active role in... 

Rand steady ahead of Fed rates announcement on Wednesday

By: News24Wire      25th September 2018 The rand held steady over the long weekend, opening at R14.37 on Tuesday morning following the public holiday on Monday. The local currency was trading at R14.38 to the greenback by 11:23. 

 Rand steady ahead of Fed rates announcement on Wednesday

South African portfolio inflows plummet in second quarter

By: Reuters     25th September 2018 Portfolio investments into the South African economy fell sharply in the second quarter, as investor risk aversion towards emerging markets was rising, central bank data showed on Tuesday. Inward investment into South African bonds and equities shrank to R16.6-billion ($1.16-billion) from... 

South Africa to relax visa rules to boost investment, tourism

By: Reuters     25th September 2018 South Africa will ease some immigration rules, including agreeing visa waiver agreements with more countries, in an effort to boost investment and tourism, Home Affairs Minister Malusi Gigaba said on Tuesday. The changes are part of a broader economic turnaround programme announced by President... 

South Africa to relax visa rules to boost investment, tourism
Home Affairs Minister Malusi Gigaba

South African investment mission to Japan 'successful', says acting Invest SA head

By: African News Agency      24th September 2018 Many Japanese companies are keen to invest in South Africa and others are interested in expanding their investments, Invest South Africa acting head Yunus Hoosen said on Sunday. . In a statement after returning from an investment mission by the trade and industry department (DTI), together with... 

Initiative seeks to further local procurement in franchising

By: Tasneem Bulbulia     21st September 2018 The Franchise Association of South Africa (Fasa) has partnered with Proudly SA to increase the local procurement of goods and services within the franchising sector by facilitating collaboration between suppliers, franchisors and franchisees. This joint enterprise development initiative was... 

Franchising sector records positive growth

By: Tasneem Bulbulia     21st September 2018 Franchising continues to show growth and resilience despite challenging socioeconomic and political challenges in the country. The industry has an estimated turnover of R721-billion in the last financial year, the Franchise Association of South Africa (Fasa) reported on Friday. 

Ramaphosa's new 10-person land reform advisory panel

By: News24Wire      21st September 2018 President Cyril Ramaphosa has announced the names of his 10-person advisory panel on land reform.  The president announced the establishment of the panel when he unveiled the state's stimulus package on Friday morning in Pretoria.  

Ramaphosa's new 10-person land reform advisory panel
Inter-Ministerial Committee on Land Reform chairperson Deputy President David Mabuza

Gordhan: Stimulus plan all about implementation

By: News24Wire      21st September 2018 President Cyril Ramaphosa's newly-announced economic stimulus package has a specific focus on implementation, say economic cluster ministers Pravin Gordhan and Ebrahim Patel. Ramaphosa on Friday morning announced a raft of measures in an effort to reignite growth, restore investor confidence,... 

 Gordhan: Stimulus plan all about implementation
Photo by Dylan Slater
Public Enterprises Minister Pravin Gordhan

Ramaphosa announces economic stimulus and recovery plan 

21st September 2018 Creamer Media's Chanel de Bruyn speaks to Engineering News Editor Terence Creamer about the new economic, stimulus and recovery plan for South Africa and whether it will help South Africa in its economic recovery. 

Ramaphosa announces economic stimulus and recovery plan
Ramaphosa announces economic, stimulus and recovery plan

Ramaphosa aims to crowd in private resources for infrastructure fund

By: Terence Creamer     21st September 2018 President Cyril Ramaphosa has placed the creation of a public-private infrastructure fund at the heart of an economic stimulus and recovery plan, otherwise constrained by South Africa’s serious fiscal constraints. In unveiling the plan during a briefing at the Union Buildings in Pretoria on... 

Ramaphosa aims to crowd in private resources for infrastructure fund
Photo by GCIS
President Cyril Ramaphosa

South Africa to reallocate R50bn of budget to revive economy – Ramaphosa

By: Reuters     21st September 2018 South African President Cyril Ramaphosa announced a raft of policy reform plans on Friday, including re-prioritising R50-billion ($3.5-billion) of public spending to boost economic growth and create jobs. Africa's most industrialised economy entered recession in the second quarter for the first... 

South Africa to reallocate R50bn of budget to revive economy – Ramaphosa
Photo by Reuters
President Cyril Ramaphosa

Ramaphosa's stimulus plan could push rand to R14/$

By: News24Wire      21st September 2018 The rand started Friday off on the front foot, adding to Thursday's 2% gain against the US dollar on good CPI data, healthy inflow in the bond market and as traders await President Cyril Ramaphosa's stimulus package. The local unit added 0.5% to R14.21 to the US dollar before retreating to the... 

Ramaphosa's stimulus plan could push rand to R14/$
President Cyril Ramaphosa

Ramaphosa to lead SA delegation to UN assembly

By: African News Agency      21st September 2018 President Cyril Ramaphosa will on Saturday travel to New York where he will lead a South African delegation at the 73rd session of the United Nations (UN) General Assembly, his office said on Friday. In his first participation at the assembly as head of state, Ramaphosa will take part in an... 

Ramaphosa to lead SA delegation to UN assembly
President Cyril Ramaphosa

Greater demand for transparency needed in African real estate industry

By: Simone Liedtke     20th September 2018 There is a growing acknowledgement of the central role that a transparent real estate sector plays in providing healthy, productive and competitive environments for communities and businesses, investment management company JLL global research head Jeremy Kelly said on Thursday. Market... 

SARB keeps repo rate unchanged at 6.5%

By: News24Wire      20th September 2018 The South African Reserve Bank announced on Thursday afternoon that it will keep the repo rate unchanged at 6.5%.  The announcement was made by the central bank's governor Lesetja Kganyago at a media briefing in Pretoria.  

SARB keeps repo rate unchanged at 6.5%
Photo by Reuters
SARB governor Lesetja Kganyago

Phosa says South Africa should be ‘plotting’ a credible economic strategy 

By: Terence Creamer     20th September 2018 Former African National Congress (ANC) treasurer-general Mathews Phosa made a forthright appeal on Thursday for the creation and implementation of a credible economic strategy, centred on growth and job creation, rather than “vague, ill-timed, conflicting and populist” policies. Speaking at the... 

Phosa says South Africa should be ‘plotting’ a credible economic strategy
Former African National Congress (ANC) treasurer-general Mathews Phosa on the need for a credible economic strategy, centred on growth and job creation, rather than 'vague, ill-timed, conflicting and populist policies'. Camera Work & Editing: Nicholas Boyd.

Cabinet approves new Mining Charter 

By: Reuters     20th September 2018 The South African Cabinet has approved the latest version of the long-delayed mining charter which lay outs requirements for black ownership levels and other targets, a cabinet minister said on Thursday. Communications Minister Nomvula Mokonyane told reporters that more details about the charter... 

Cabinet approves new Mining Charter

Ramaphosa to unveil economic stimulus package on Friday

By: News24Wire      20th September 2018 President Cyril Ramaphosa will unveil a stimulus package that he hopes will kick-start South Africa’s lagging economy on Friday morning.  Cabinet has signed off on the measures, which they hope will reignite economic growth, said Minister of Communications Nomvula Mokonyane on Thursday morning. 

Ramaphosa to unveil economic stimulus package on Friday
President Cyril Ramaphosa

Interest rates likely to stay unchanged as economy struggles

By: African News Agency      20th September 2018 South Africa's central bank is likely to keep interest rates unchanged on Thursday despite inflationary pressures stemming largely from a weaker rand, hamstrung mostly by concerns over the ailing economy. The economy slipped into a recession after gross domestic product contracted by 0.7 percent... 

Interest rates likely to stay unchanged as economy struggles

Poor internal coordination in SA cities adding to cost of doing business

By: Terence Creamer     19th September 2018 A new World Bank report highlights how a lack of internal coordination between departments within several of South Africa’s largest cities is undermining the delivery of services to businesses operating within those locations and burdening entrepreneurs with timing consuming and costly red tape.... 

Poor internal coordination in SA cities adding to cost of doing business

JSE looks to tighten listing rules

By: Reuters     19th September 2018 The Johannesburg Stock Exchange (JSE) wants to increase the minimum capital amount required for a primary listing and is considering stricter rules on secondary listings as it seeks to improve corporate governance. Africa's biggest securities exchange published its proposals in a public... 

August trade conditions remained negative – Sacci

By: Schalk Burger     19th September 2018 The South African Chamber of Commerce and Industry’s (Sacci’s) August Trade Conditions Survey shows that present trade conditions and prospects remain tight and in negative territory, the chamber said in a statement on Wednesday. Trade expectations for the next six months, as reflected by the... 

CEO Initiative to support government’s investor outreach at October summit

By: Terence Creamer     18th September 2018 The CEO Initiative is putting its weight behind President Cyril Ramaphosa’s plans for increasing levels of investment and stimulating growth in the recession-afflicted South African economy. The CEO Initiative draws in business leaders from various sectors and rose to prominence during Pravin... 

CEO Initiative to support government’s investor outreach at October summit
Photo by Creamer Media
Jabu Mabuza

Botswana trims growth prospects, sees wider budget deficits

By: Reuters     18th September 2018 Botswana's economy is expected to expand by 4.5% this year, down from an estimate in February of 5.3%, the finance ministry said on Tuesday at a 2019 budget conference. A senior official in the diamond-producing southern African nation’s economy said the government expects an optimistic medium... 

Cosatu elects its first female president

By: News24Wire      18th September 2018 Zingiswa Losi has been elected president of trade union federation the Congress of South African Trade Unions (Cosatu) after being nominated unopposed. The nominations of South Africa’s largest labour federation took place on Tuesday morning where Losi and the rest of the top six were nominated... 

Cosatu elects its first female president

Cronin lifts veil on new draft expropriation law

By: News24Wire      18th September 2018 A new expropriation bill, set to be tabled in Parliament in the next two months, will set out a clear procedure for land expropriation without compensation and ensure it is an “administratively just process”, according to Deputy Minister of Public Works Jeremy Cronin.  Earlier this month a draft... 

Cronin lifts veil on new draft expropriation law
Deputy Minister of Public Works Jeremy Cronin

Western Cape farmers call for easing of water restrictions to repair drought damage

By: News24Wire      18th September 2018 Western Cape farmers are calling on government to reveal how much water they are likely to be allocated this summer, so they can make plans to fix the damage caused by the 60% cut in their water supply. Some farmers say they have already experienced their Day Zero – now they want to know if they... 

Western Cape farmers call for easing of water restrictions to repair drought damage

South Africa not planning mass layoffs in public sector to fight recession - Ramaphosa 

By: Reuters     17th September 2018 President Cyril Ramaphosa said on Monday there would be no mass layoffs of public sector workers as his government considers various ways to pull the economy out of a recession that has rattled the rand and investor confidence. The economy slipped into recession in the second quarter for the... 

South Africa not planning mass layoffs in public sector to fight recession - Ramaphosa
President Cyril Ramaphosa

Poultry industry takes on US chicken quota as court case brews

By: News24Wire      17th September 2018 The South African Poultry Association (SAPA) wants government to review the quota of US poultry imports, following the imposition of tariffs on local aluminium and steel products. In court papers filed in the North Gauteng Court, the organisation argues that US tariffs on SA steel and aluminium... 

 Poultry industry takes on US chicken quota as court case brews

SA delegation arrives in Japan for investment mission 

By: African News Agency      17th September 2018 A South African delegation arrived in Tokyo, Japan on Monday for an investment mission which is set to take place until Saturday. The delegation, led by the acting head of Invest South Africa, Yunus Hoosen will be meeting with leading companies in an effort to attract them to invest and expand... 

SA delegation arrives in Japan for investment mission
Acting Head of Invest South Africa Yunus Hoosen

City of Cape Town announces improving dam levels

By: African News Agency      17th September 2018 The City of Cape Town on Monday announced that dam levels feeding the city had improved to 70 percent of storage capacity over the past week. The announcement came as Cape Town and surrounding areas experienced further heavy rainfall overnight Sunday and into Monday, with further rainfall... 

 City of Cape Town announces improving dam levels

Government's economic stimulus package to be made public soon – Presidency

By: African News Agency      17th September 2018 The economic stimulus package adopted by cabinet will reprioritise government spending within the existing fiscal framework towards activities that will stimulate economic activity, the presidency said on Sunday. President Cyril Ramaphosa had "shared" with South Africa’s business and labour... 

Government's economic stimulus package to be made public soon – Presidency
President Cyril Ramaphosa

Nedlac provides update on legislative changes, stresses need to cooperate to grow economy

By: Marleny Arnoldi     14th September 2018 Labour Minister Mildred Oliphant has announced that the Equity Act will be amended, following a report by the South African Human Rights Commission that found some policies around affirmative action unconstitutional and not aligned with international best practice. She said, in her opening... 

Nedlac provides update on legislative changes, stresses need to cooperate to grow economy
Labour Minister Mildred Oliphant

Mabuza: 'Surgical and difficult austerity measures' may be necessary 

By: News24Wire      14th September 2018 Deputy President David Mabuza said on Friday during his address to the annual Nedlac conference in Johannesburg that the state may have to implement "surgical and difficult austerity measures”. He also called on local South African companies with cash reserves to start investing in SA, saying... 

 Mabuza: 'Surgical and difficult austerity measures' may be necessary
Deputy President David Mabuza

Top trends that are likely to change the way we work and live

By: Kim Cloete     14th September 2018 Quantum computing and flying cars are two of the top trends that Frost & Sullivan has outlined within its top trends for 2018/19 at its CEO Think Tank in Cape Town.  The company has looked at trends that are changing the way we work and live. 

Ramaphosa assures diplomatic community that land reform will be done in an 'orderly manner' 

By: News24Wire      14th September 2018 Land redistribution is necessary to correct the injustices of South Africa’s apartheid history, President Cyril Ramaphosa told the diplomatic community in Pretoria on Friday. "Parliament is considering whether Section 25 needs to be amended or not to allow for expropriation of land without... 

Ramaphosa assures diplomatic community that land reform will be done in an 'orderly manner'
President Cyril Ramaphosa
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