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Macro and Micro News

Numsa members embark on strike at BMW’s Rosslyn plant

By: Simone Liedtke     Updated 2 hours 24 minutes ago The National Union of Metalworkers of South Africa (Numsa) on Monday claimed that BMW South Africa had unilaterally changed the terms of service for contract workers. As a result, Numsa members have embarked on a strike at BMW’s Rosslyn plant, in Pretoria. 

EOH Microsoft licence partnership woes deepen

By: Schalk Burger     Updated 4 hours ago JSE-listed information technology services company EOH announced in a statement on Monday that it had, on March 12, received a 30-day notice period from software multinational Microsoft Ireland of its intention to terminate the Partner Network Agreement with a number of EOH group companies, and... 

Sacci, SBI urge govt to do more to resolve Eskom’s troubles 

By: Simone Liedtke     Updated 4 hours ago The recent round of rolling blackouts plaguing South Africa, and uncertainty about the longer-term power supply situation in South Africa are having a devastating impact on business, says South African Chamber of Commerce and Industry (Sacci) CEO Alan Mukoki. Although Eskom does not expect to... 

M&R acquires another US-based firm 

By: Simone Liedtke     Updated 5 hours ago JSE-listed engineering and construction group Murray & Roberts’ (M&R’s) Cementation Americas, which forms part of the M&R Underground Mining platform, has acquired 100% of Terra Nova Technologies (TNT) for $38-million. The acquisition will be funded from a revolving and term loan credit facility,... 

Group Five subsidiary companies to continue operating as going concerns – BRPs

By: Simone Liedtke     Updated 6 hours ago The joint business rescue practitioners (BRPs) for Group Five and Group Five Construction on Monday confirmed that subsidiary companies of these entities would continue to operate as going concerns, as they do not fall directly into business rescue proceedings. This is also the case for Group... 

Group Five subsidiary companies to continue operating as going concerns – BRPs

Progressive Professionals Forum wants SIU probe into Steinhoff

By: African News Agency      25th March 2019 The Progressive Professionals Forum (PPF) has called for South Africa's Special Investigating Unit to probe troubled global retailer Steinhoff International in light of new revelations of corruption.  An investigative report by audit firm PricewaterhouseCoopers (PwC) found that a small group of... 

Progressive Professionals Forum wants SIU probe into Steinhoff

Rand slides as global recession fears hit emerging markets

By: Reuters     25th March 2019 South Africa's rand retreated against the dollar early on Monday, weakening alongside other emerging market currencies on fears of a slowdown in global economic growth. At 0630 GMT the rand was 0.1% weaker at 14.5050 per dollar compared to a close of 14.9000 on Friday in New York. 

Rand slides as global recession fears hit emerging markets

Mboweni questions need to hold onto State assets

By: Bloomberg     25th March 2019 Finance Minister Tito Mboweni said a discussion must begin on whether the government needs to retain control of all the assets it owns given the poor state of the national finances. Mboweni has asked Public Enterprises Minister Pravin Gordhan for a list of noncore State assets and has been... 

Mboweni questions need to hold onto State assets
Photo by Reuters
Finance Minister Tito Mboweni

Aveng Strabag Joint Venture to appeal ruling on calling of Mtentu bridge bonds 

By: Terence Creamer     22nd March 2019 The Aveng Strabag Joint Venture (ASJV) reported on Friday that it would appeal the dismissal of an urgent application, lodged by the ASJV in February, seeking to prevent the South African National Roads Agency Limited (Sanral) from making a call on the bonds relating to the Mtentu bridge... 

Aveng Strabag Joint Venture to appeal ruling on calling of Mtentu bridge bonds

'Signs are encouraging' load-shedding will be reduced – Eskom

By: News24Wire      22nd March 2019 Eskom will implement Stage 2 load-shedding on Friday, as strain on the national grid improves and “signs are encouraging” that there will be reduced rotational power cuts as available generating capacity improves, according to Eskom spokesperson Andrew Etzinger. Stage 2 will be implemented... 

 'Signs are encouraging' load-shedding will be reduced – Eskom
Photo by Creamer Media
Eskom Spokesperson Andrew Etzinger

Ceta to present five-year SMME strategy at summit

By: Marleny Arnoldi     20th March 2019 The Construction Education and Training Authority (Ceta) will present its five-year strategy for progressing small, medium-sized and microenterprises (SMMEs) in the built environment sector at the Ceta SMME Summit later this month. The summit will highlight the current SMME landscape in the... 

South Africa's FDI inflows reach five-year high in 2018

By: Reuters     20th March 2019 South Africa's foreign direct investment (FDI) inflows rose to a five-year high of R70.7-billion in 2018 from R26.8-billion the prior year, the central bank said on Wednesday, despite outflows in the final quarter of last year. The 2018 FDI inflows were the highest since 2013, when the country... 

SARB likely to hold rates on March 28

By: Reuters     20th March 2019 The South African Reserve Bank (SARB) is expected to leave interest rates unchanged next week, and with a weak currency threatening to stoke inflation, it probably won't cut rates this year, a Reuters poll showed on Wednesday. Inflation in Africa's most industrialized economy is currently below... 

Accounting institute to investigate Jooste, La Grange in Steinhoff saga

By: African News Agency      20th March 2019 The South African Institute of Chartered Accountants (SAICA) on Tuesday, said that it would investigate two of its members implicated in 'alleged improper conduct' related to the Steinhoff accounting fraud saga. In heated discussions on the matter among various parliamentary committees on... 

Eskom says will continue with rotating powercuts

By: African News Agency      20th March 2019 Eskom said on Wednesday it would press on with rotating blackouts, suppressing 2 000 MW of demand at a given time until 9 am, before doubling that to 4 000 MW till 11 pm to avoid tripping the entire national grid. "This is due to a shortage of capacity. Eskom’s maintenance teams are working round... 

 Eskom says will continue with rotating powercuts

Eskom provides update on electricity crisis 

20th March 2019 Public Enterprises Minister Pravin Gordhan and Eskom chairperson Jabu Mabuza on Tuesday held a media briefing to discuss the current electricity crisis. Engineering News Editor Terence Creamer joins Creamer Media's Chanel de Bruyn in studio to discuss the highlights of the media briefing, as well... 

Eskom provides update on electricity crisis
Eskom provides update on electricity crisis.

Eskom, government plans for Stage 5 and Stage 6 load-shedding to stave off national blackouts  

By: News24Wire      19th March 2019 Eskom and government have started planning for Stage 5 and Stage 6 load-shedding, according to officials who say that there is a race against time to ensure that a national blackout and grid collapse does not happen.  Stage 5 and Stage 6 load shedding imply shedding 5 000 MW and 6 000 MW... 

 Eskom, government plans for Stage 5 and Stage 6 load-shedding to stave off national blackouts

We only have ourselves to blame – Eskom COO 

By: News24Wire      19th March 2019 Eskom only has itself to blame for the lapse of a contract for early detection of maintenance failures, according to Eskom chief operations officer (COO) Jan Oberholzer. There are currently seven generating units which have broken down due to boiler tube leaks as Eskom struggles to maintain its... 

 We only have ourselves to blame – Eskom COO

South Africa police probe into Steinhoff fraud at advanced stage

By: Bloomberg     19th March 2019 An investigation into an alleged fraudulent transaction by Steinhoff International Holdings is at an advanced stage, South Africa’s Serious Commercial Crime Investigation unit said in a presentation to be delivered to lawmakers in Cape Town on Tuesday. The emergence of new details into the probe... 

Eskom sets aside R50bn over 5 years for maintenance

By: News24Wire      19th March 2019 Eskom has set aside R50-billion over the next five years for maintenance as ageing infrastructure is unable to keep up with electricity demand, according to the power utility’s CEO Phakamani Hadebe. Hadebe said Eskom had been using its maintenance spend previously on generation alone but will now... 

 Eskom sets aside R50bn over 5 years for maintenance
Photo by Creamer Media's Dylan Slater
Eskom CEO Phakamani Hadebe

Eskom needs 'crisis reaction' – Mabuza

By: News24Wire      19th March 2019 Eskom chairperson Jabu Mabuza says the operational side of Eskom requires “crisis reaction” as well as time and speed to fix the current load-shedding situation. He was briefing the media on Tuesday, along with Minister of Pubic Enterprises Pravin Gordhan as the country entered the fifth... 

 Eskom needs 'crisis reaction' – Mabuza
Photo by Creamer Media
Eskom Chairperson Jabu Mabuza

'No magic formula to solve power crisis' – Gordhan

By: News24Wire      19th March 2019 There is no magic formula to solve the current load-shedding crisis and the Minister of Public Enterprises Pravin Gordhan is unable to say when the rotational blackouts will be over. Gordhan was briefing the media on Tuesday, along with senior Eskom officials as the country entered its fifth... 

 'No magic formula to solve power crisis' – Gordhan
Photo by Creamer Media
Public Enterprises Minister Pravin Gordhan

Gordhan, Mabuza to shed light on SA’s power crisis

By: News24Wire      19th March 2019 Minister of Public Enterprises Pravin Gordhan and the chairperson of the Eskom Board, Jabu Mabuza, will hold a media briefing to give an update on electricity supply problems on Tuesday morning in Johannesburg.  South Africans have faced five consecutive days of load-shedding, including power... 

 Gordhan, Mabuza to shed light on SA’s power crisis
Photo by Creamer Media's Dylan Slater
Eskom board chairperson Jabu Mabuza

Water supply, economic activity under threat as Eskom struggles to supply power

By: African News Agency      19th March 2019 South Africa's State-owned electricity company Eskom continued implementing rolling blackouts on Tuesday as its crippled generating units struggled to supply enough power in a crisis likely to further hurt the ailing economy. In its latest statement Eskom said it was implementing "stage 2"... 

Water supply, economic activity under threat as Eskom struggles to supply power

Eskom's 'perfect storm' and how the power utility is managing the crisis 

By: News24Wire      18th March 2019 South Africa has been oscillating between Stage 2 and Stage 4 load shedding since Friday, cutting up to 4 000 MW from the national grid per day. The rolling blackouts are expected to continue until Wednesday, with demand expected to taper off towards the end of the week, as Thursday is a public... 

 Eskom's 'perfect storm' and how the power utility is managing the crisis

Public-Private Growth Initiative identifies 18 ‘priority projects’ to unlock growth 

By: Terence Creamer     18th March 2019 The Public-Private Growth Initiative (PPGI), an evolving sector-based collaboration between government and business, has earmarked 18 projects across various sectors of the South African economy for priority implementation in the coming months. Minister in the Presidency Dr Nkosazana Dlamini-Zuma... 

Public-Private Growth Initiative identifies 18 ‘priority projects’ to unlock growth
Minister in The Presidency Dr Nkosazana Dlamini-Zuma speaks, while Dr Johan van Zyl, Mpumi Mpofu and Roelf Meyer listen

Looming SA 'expat tax' is ultimately fair – Citadel

By: African News Agency      18th March 2019 Changes to South Africa's Income Tax Act which will from March 2020 see expatriates taxed locally for income from foreign employment exceeding R1-million is ultimately fair given their continued ties in the country, financial services group Citadel said on Monday. The National Treasury held a... 

 Looming SA 'expat tax' is ultimately fair – Citadel

Channelling Thatcher, South Africa’s President takes on its unions

By: Bloomberg     18th March 2019 In 1987, an anti-apartheid firebrand named Cyril Ramaphosa led South Africa’s biggest-ever mining strike. Some 300 000 miners – from a union Ramaphosa himself had founded – walked off the job, protesting pay and working conditions. The mining company “used fascist methods to destroy workers’... 

Coca-Cola fast-tracking collection, recycling of PET bottles

By: Simone Liedtke     18th March 2019 In commemoration of Global Recycling Day, and as part of a focused World Without Waste campaign, the Coca-Cola Company is accelerating the collection and recycling of polyethylene terephthalate (PET) bottles across Southern and East Africa. Along with its bottling partners and other industry... 

Transnet gives small businesses a leg up in KZN

By: Marleny Arnoldi     15th March 2019 State-owned freight utility Transnet, in attendance of Public Enterprises Minister Pravin Gordhan, on Friday launched an enterprise development megahub for small businesses and entrepreneurs in Empangeni, in KwaZulu-Natal. The hub will assist small businesses, aspirant entrepreneurs and... 

China a potential market for South African avos as other markets mull import bans

By: Simone Liedtke     15th March 2019 The South African avocado market faces the threat of a possible ban in future, particularly in the UK, which is reportedly getting rid of avocados on ethical grounds, says economist Gilberto Biacuana. The UK is the second most important market for South Africa’s avocado exports, which means that... 

Amplats donates 270 ha of land to support land reform 

By: Nadine James     15th March 2019 Anglo American Platinum (Amplats) on Friday handed over 270 ha of land, worth about R26-million, to the Rustenburg local municipality and the Rustenburg Alchemy Development Trust to support sustainable land reform and transformation. Parent company Anglo American said the donation, which followed... 

Amplats donates 270 ha of land to support land reform
Photo by Creamer Media's Dylan Slater
Amplats CEO Chris Griffith and Rustenburg Alchemy Development Trust chairperson Nthabiseng Matsobane

Eskom confirms Stage 2 load-shedding to last until Sunday 

By: News24Wire      15th March 2019 Eskom has said that stage 2 load-shedding will continue until Sunday and the risk of power cuts remains high until the middle of next week. The national power utility said the cuts were due to a shortage of generation capacity caused by plant breakdowns and the need to manage diesel and water... 

 Eskom confirms Stage 2 load-shedding to last until Sunday

Levies to add to expected fuel price hike in April – AA 

By: News24Wire      15th March 2019 South African consumers should brace for a possible increase in the basic fuel price in April of 98 cents per litre for petrol, 70 cents per litre for diesel and 63 cents per litre for illuminating paraffin, the Automobile Association (AA) said in a statement on Friday. The AA warned that the... 

 Levies to add to expected fuel price hike in April – AA

Enoch Godongwana appointed non-executive director at DBSA

By: News24Wire      14th March 2019 The African National Congress's (ANC's) head of economic transformation, Enoch Godongwana, has been named as a member of the board of the Development Bank of Southern Africa.   Cabinet announced on Thursday that Godongwana and Bongiwe Kunene would, from April 1, serve as non-executive directors... 

 Enoch Godongwana appointed non-executive director at DBSA
Photo by Creamer Media
Enoch Godongwana

Clock ticking on new SA trade deal with post-Brexit Britain

By: African News Agency      14th March 2019 South Africa and its southern Africa customs union partners will be trying to conclude an agreement with Britain on Friday on the trade ties and tariffs in the post-Brexit era but sticking points remain, Trade and Industry Minister Rob Davies said on Wednesday. Ministerial level talks between... 

Ramaphosa authorises investigation into ‘red fleet’ vehicles procured by City of Joburg

By: Marleny Arnoldi     14th March 2019 President Cyril Ramaphosa has authorised the Special Investigating Unit (SIU) to investigate alleged wrongdoing within the Johannesburg metropolitan municipality (City of Joburg) or service providers in relation to the city’s procurement of vehicles from Fire Raiders in a 2014 tender that was... 

Ramaphosa authorises investigation into ‘red fleet’ vehicles procured by City of Joburg
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