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Macro and Micro News

Sasol shareholders approve new R21bn BEE structure

By: Megan van Wyngaardt     17th November 2017 Sasol Khanyisa, a R21-billion broad-based black economic empowerment (BBBEE) ownership structure, has been granted formal approval by Sasol shareholders. “We are delighted with this outcome as it marks a significant milestone in Sasol’s transformation journey. Sasol Khanyisa will be implemented... 

SAB entrepreneurship for employment initiative welcomed

     17th November 2017 Business Unity South Africa (Busa) has welcomed South African Breweries (SAB’s) entrepreneurship campaign aimed at enabling South African entrepreneurs to create 10 000 jobs by 2021. 

SAB entrepreneurship for employment initiative welcomed
SAB PROGRAMME The SAB entrepreneurial programme, which provides a package of support, was launched in September

Construction company awarded R10m residential development contract

By: Simone Liedtke     17th November 2017 Construction company Motheo Infrastructure Contractors will use equipment – such as motor graders, 30 t excavators, compaction equipment and tipper trucks – to the value of about R10-million for its infrastructure contract at the South Hills integrated residential development in Johannesburg,... 

Construction company awarded R10m residential development contract
ARCHIE RUTHERFORD The South Hills project will have a positive impact on the local community

Chubb to sell all its shares in South African business to empowerment consortium

By: Megan van Wyngaardt     16th November 2017 US-owned security company Chubb will sell 100% of its South African business to a black economic empowerment consortium led by Kilimanjaro Capital. The entity will then be rebranded. The move follows the passing of the Private Security Industry Regulation Amendment Bill, which proposes that... 

Gold Brands to mitigate tough economic conditions with unique concepts

By: Megan van Wyngaardt     16th November 2017 While South African franchiser Gold Brands’ revenue for the six months ended August 31 fell 72.6% to R27.6-million year-on-year, owing to losses experienced from store closures incurred by lease expiries, the company’s gross profit margin increased from 30.9% to 47.3%, thanks to a more aligned... 

Small, larger business must join hands to grow economy

By: Megan van Wyngaardt     16th November 2017 South Africa needs more “capitalists with soul” to drive the economy and to allow small business to become more prominent in smaller communities and townships. This was the overall message at the fourth National Small and Medium-Sized and Microenterprise Policy Colloquium, held in Tembisa, on... 

BLSA urges ANC to hold smooth elective conference

By: African News Agency      16th November 2017 Business Leadership South Africa (BLSA) on Thursday urged the ruling African National Congress (ANC) to ensure that it holds a smooth elective conference and respect its outcomes next month, for the sake of the country's prosperity. The ANC will hold its 54th National Conference on 16-20... 

BLSA urges ANC to hold smooth elective conference

Shell, AfriForum, TKAG to discuss Karoo fracking

By: Megan van Wyngaardt     15th November 2017 Shell South Africa country chairperson Hloniphizwe Mtolo will meet with civil rights and environmental protection organisations AfriForum and Treasure the Karoo Action Group (TKAG) to discuss environmental, legal and economic concerns over fracking. The groups received an official commitment from... 

Go Life in bid to acquire Brittan Healthcare

By: Megan van Wyngaardt     15th November 2017 AltX-listed Go Life International intends to acquire 100% of the shares and claims in medical device company Brittan Healthcare for R10-million. “Brittan healthcare offers an instant market in the whole of Southern Africa through its own range of products and services and, going forward, through... 

Economic instability ‘new normal’ in South Africa, can-do attitude persists amid crime wave

By: Megan van Wyngaardt     15th November 2017 Seventy-two per cent of business executives confirmed that turbulence in the local economy over the past six months has affected business operations and decisions, Grant Thornton’s International Business Report (IBR) for the third quarter shows. Referring to economic instability as the “new... 

Economic instability ‘new normal’ in South Africa, can-do attitude persists amid crime wave

Unemployment biggest culprit in South Africa’s inequality

By: Megan van Wyngaardt     14th November 2017 Unemployment, and not low formal sector wages, is the biggest cause of inequality in South Africa, economist Mike Schussler argued at a presentation of trade union Uasa’s sixteenth ‘South African Employment Report’, in Johannesburg, on Tuesday. Noting that no other country among the 100 biggest... 

Brown blocked Koko’s suspension, witness tells Eskom probe

By: African News Agency      14th November 2017 Public Enterprises Minister Lynne Brown took instructions from the Gupta brothers and ordered the Eskom board not to suspend Matshela Koko as CEO of the power utility, a witness on Tuesday told the parliamentary inquiry into the company. Khulani Qoma, the now suspended spokesperson for the Eskom... 

Brown blocked Koko’s suspension, witness tells Eskom probe
Photo by Duane Daws
Public Enterprises Minster Lynne Brown

Business expresses concern over Michael Sachs’ resignation

By: Thabi Madiba     14th November 2017 Business Leadership South Africa (BLSA) on Tuesday said it was concerned with the resignation of head of the National Treasury's Budget Office Michael Sachs. Treasury said on Monday that Sachs would not be leaving the department immediately to ensure a proper handover to another senior official... 

Business expresses concern over Michael Sachs’ resignation
Photo by Duane
BLSA CEO Bonang Mohale

South Africa graft watchdog must meet court deadline – SARB

By: Reuters     14th November 2017 South Africa's anti-graft watchdog must meet a high court deadline in a case about the central bank's mandate to avoid creating market instability, the bank said on Monday. Market stability is politically sensitive in South Africa because ratings agencies downgraded the country's debt in April... 

IEA lists South Africa as possible hub for production of ‘green’ hydrogen-rich chemicals, fuels

By: Terence Creamer     14th November 2017 A new International Energy Agency (IEA) report lists South Africa, together with a handful of other territories, as having the potential to tap its abundant solar and wind resources to produce “green” hydrogen-rich chemicals and fuels, such as ammonia and methanol. The insight paper, titled... 

IEA lists South Africa as possible hub for production of ‘green’ hydrogen-rich chemicals, fuels

Ramaphosa proposes a New Deal for South Africa

By: News24Wire      14th November 2017 Deputy President Cyril Ramaphosa on Monday evening said there must be an uncompromising rejection of corruption, patronage, cronyism and wastage. "To those with vested interests in ineffective governance, deliberate misgovernance, hidden deals, the concentration of economic control and unfair... 

Ramaphosa proposes a New Deal for South Africa
Deputy President Cyril Ramaphosa

Corruption Watch says banking heads must roll over Gupta scandal

By: Megan van Wyngaardt     13th November 2017 Transparency International (TI) and Corruption Watch – TI’s chapter in South Africa – have called for a firm approach to be taken to any banks involved in the country’s Gupta scandal. This follows a recent statement in the UK Parliament that has generated widespread speculation that a major... 

BCCEI strengthens negotiation skills through training

By: Megan van Wyngaardt     13th November 2017 To ease local wage negotiations in its industry, the Bargaining Council for the Civil Engineering Industry (BCCEI) has embarked on building strong negotiations through training. As part of this process, members of the National Negotiating Forum (NNF) have been undergoing training courses to... 

Treasury turmoil sends rand to one-year low

By: Reuters     13th November 2017 South Africa's rand tumbled more than 1% and the risk premium on government bonds soared on Monday over news of a top Treasury official resignation, financial woes at the sole power utility and political jostling in the ruling party. A report by a presidential commission that government raise... 

South African trade set to improve over next two years

By: Megan van Wyngaardt     13th November 2017 Depending on political and economic conditions in the country in the next two years, South Africa’s deal activity is expected to improve, as global economic and political risks ease and positive macroeconomic deal drivers arise, the ‘Global Transactions Forecast’ issued by Baker McKenzie has... 

Treasury confirms Budget Office head resignation

By: Thabi Madiba     13th November 2017 National Treasury on Monday confirmed the resignation of the Budget Office head deputy director-general Michael Sachs. According to a National Treasury statement released on Monday, Sachs has expressed his interest to serve the public sector in a different capacity. 

Treasury confirms Budget Office head resignation
Photo by Bloomberg
Finance Minister Malusi Gigaba

No free higher education, cost-sharing more feasible – Heher Report

By: African News Agency      13th November 2017 As expected, a report of the commission which looked into the feasibility of making higher education free in South Africa, released by President Jacob Zuma on Monday, found that government alone would not be able to foot the sizeable bill for such a reality. The report by the commission, chaired... 

Zuma to release report on higher education at midday – presidency

By: Reuters     13th November 2017 President Jacob Zuma will release a report into the feasibility of fee-free higher education at midday (1000 GMT) today, the presidency said in a statement on Monday. Reports that Zuma was planning to announce free tertiary education have hurt the rand currency in recent days, as higher education... 

Zuma to release report on higher education at midday – presidency
President Jacob Zuma

Treasury rocked as budget chief quits

By: News24Wire      13th November 2017 National Treasury has been rocked by the resignation of its long-time budget head, Michael Sachs. Fin24 has obtained independent confirmation from two sources close to Treasury that Sachs, a deputy director general who headed up the budget office, quit last week over interference by the Presidency. 

Zuma says has no plans to announce free education programme yet

By: Reuters     13th November 2017 South Africa's President Jacob Zuma has no plans to announce a programme for free higher education until he reviews the report of a commission studying the feasibility of such a programme, his office said in a statement on Sunday. The rand slipped to a one-year low on Friday amid reports Zuma was... 

Zuma says has no plans to announce free education programme yet
Photo by Duane Daws
President Jacob Zuma

Rand falls further on free education reports

By: Reuters     10th November 2017 South Africa's rand currency extended losses on Friday, reacting to news reports that President Jacob Zuma is preparing to introduce free tertiary education, which would put added pressure on public finances. At 1150 GMT the rand was 0.9 percent weaker against the dollar at 14.3750, after earlier... 

Rand falls further on free education reports

Innovative civil engineering solution to social ills – Manuel

By: Megan van Wyngaardt     10th November 2017 Unless South Africa and its citizens deal with the issue of widespread corruption, the country will not be able to provide the “kinds of engineering services” that it ought to provide to people, former Finance Minister and Minister in the Presidency Trevor Manuel has said. Speaking at a South... 

Innovative civil engineering solution to social ills – Manuel
Photo by Duane Daws
Trevor Manuel

E-toll issues stem from governance issues – Manuel

By: Megan van Wyngaardt     10th November 2017 Former Finance Minister and Minister in the Presidency Trevor Manuel on Friday spoke out in defence of the Gauteng Freeway Improvement Project (GFIP), noting that the defiance against the e-toll and gantry system was as a result of South Africans having an issue with governance. His comment... 

E-toll issues stem from governance issues – Manuel

South Africa mulls welfare cuts to fund free higher education – report

By: Reuters     10th November 2017 South Africa's government is considering a range of budget cuts that could include slashing social grants for the most vulnerable in order to pay for free tertiary education, a newspaper reported on Friday. South Africa's rand weakened on Thursday after comments by President Jacob Zuma raised... 

South Africa mulls welfare cuts to fund free higher education – report

South African economy faces major challenges, but turnaround not difficult task, says Kganyago

By: African News Agency      10th November 2017 The South African economy faces major challenges and economic growth was weak as unemployment remained high despite terms of trade being favourable and global recovery, however, it should not be a difficult task to turn things around, South African Reserve Bank (SARB) Governor Lesetja Kganyago... 

South African economy faces major challenges, but turnaround not difficult task, says Kganyago
Photo by Reuters
Lesetja Kganyago

Competence Centre promotes energy efficiency awareness in Africa

By: Nica Schreuder     10th November 2017 The South African-German Chamber of Commerce and Industry’s Competence Centre for Sustainable Energies (CC:SE), in Cape Town plays an important role in creating awareness and fostering conversations among African stakeholders in the renewable energy and energy efficiency sector. CC:SE manager... 

Competence Centre promotes energy efficiency awareness in Africa
Photo by Bloomberg
LIGHTING THE WAY EUREM trainees are taught basic knowledge of energy efficiency, with an emphasis on energy efficient lighting systems

Upcoming energy event to showcase African project opportunities  

By: Simone Liedtke     10th November 2017 A key focus point of the African Energy Indaba (AEI) – which celebrates its ten-year milestone next year – is to provide access to project opportunities across the African continent. 

Upcoming energy event to showcase African project opportunities
Africa Energy Indaba (AEI) MD Liz Hart, AEI chairperson Brian Statham and South African Electrotechnical Export Council CEO Chiboni Evans discuss the AEI next year. Camera: Nicholas Boyd. Editing: Lionel da Silva.

Afrimat starts trading on A2X, maintains primary listing on JSE

By: Megan van Wyngaardt     9th November 2017 South Africa’s newest stock exchange A2X Markets on Thursday gained its latest member, construction materials company Afrimat. The company joins African Rainbow Capital Investments, Peregrine Holdings and Coronation Fund Managers on the A2X roster, and will retain its primary listing on the main... 

Afrimat starts trading on A2X, maintains primary listing on JSE

South African manufacturing declines, but could recuperate in new year

By: Megan van Wyngaardt     9th November 2017 Difficult trading conditions in the country are reflected in Statistics South Africa’s latest manufacturing numbers, with production having decreased by 1.6% year-on-year in September. However, Nedbank analysts said in a release that the latest set of production figures suggests that the economic... 

South African manufacturing declines, but could recuperate in new year

ACSA CEO to chair international organisation

By: Megan van Wyngaardt     9th November 2017 Airports Company South Africa (ACSA) CEO Bongani Maseko has been appointed chairperson of the world governing board of the Airports Council International (ACI), the trade representative of the world’s airports, for a two-year term. ACI serves 623 members operating 1 940 airports in 176 countries... 

Telkom appoints CEO of property management unit

By: Megan van Wyngaardt     9th November 2017 Telecommunications group Telkom has appointed Lesiba Maloba as CEO of its property management business unit, Gyro Group, from November 13. Gyro was established on April 1 to unlock value by commercialising the Telkom property portfolio, extracting value from excess building capacity and... 

Rand weaker on rumour Zuma to announce free education

By: Reuters     9th November 2017 South Africa's rand weakened on Thursday on speculation that President Jacob Zuma was preparing to announce a controversial plan for free tertiary education. At 1419 GMT, the rand was down 0.78% against the dollar at 14.2650, after earlier trading more than 1% weaker on the day. 

Rand weaker on rumour Zuma to announce free education
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