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Macro and Micro News

Ramaphosa’s $100bn investment target will be reached in a year – Brics ambassador

By: African News Agency      Updated 6 hours ago The target set by President Cyril Ramaphosa to garner $100-billion in local and foreign investment to boost the South African economy is “modest” and would be achieved within a year, Professor Anil Sooklal said on Tuesday. “The $100-billion is a modest target. I believe we will reach that in a... 

SA annual consumer inflation accelerates to 4.6 percent in June - stats agency

By: African News Agency      Updated 6 hours ago South Africa’s annual consumer price inflation quickened to 4.6 percent in June from 4.4 percent in May, data from the national statistics agency showed on Wednesday. On average, prices increased by 0.4 percent between May and June, Statistics South Africa said. 

 SA annual consumer inflation accelerates to 4.6 percent in June - stats agency

Madiba's light shone so brightly – Obama 

By: Sane Dhlamini     Updated 7 hours ago Madiba's light shone so brightly, even from that narrow Robben Island cell, said the 44th US President Barack Obama during the sixteenth annual Nelson Mandela Lecture, on Tuesday, in Johannesburg. The speech was well received by almost 15 000 South Africans and dignitaries from many countries... 

Madiba's light shone so brightly – Obama
Barack Obama delivers the 2018 Nelson Mandela annual lecture (Camera & editing: Nicholas Boyd)

I believe in Nelson Mandela’s vision – Obama

By: Sane Dhlamini     17th July 2018 “I believe in Nelson Mandela’s vision,” former US President Barack Obama said during the sixteenth annual Nelson Mandela Lecture, on Tuesday. The event, held in Johannesburg, celebrates Madiba’s centenary this year and was attended by thousands including dignitaries such as Graça Machel, Ban Ki... 

I believe in Nelson Mandela’s vision – Obama
Photo by Dylan Slater
Former US President Barack Obama

Madiba belonged to the world – Ramaphosa  

By: Sashnee Moodley     17th July 2018 South Africans and people around the world are humbled and privileged to be participating in this celebration of the centenary of Nelson Mandela, declared President Cyril Ramaphosa during his introduction of former US President Barack Obama during the sixteenth annual Nelson Mandela Lecture,... 

Madiba belonged to the world – Ramaphosa
President Cyril Ramaphosa speaking at the sixteenth annual Nelson Mandela Lecture (Camera & editing: Nicholas Boyd)

Study indicates FDI can provide credible solutions to several social issues

By: Simone Liedtke     17th July 2018 If guided wisely, foreign direct investment (FDI) can provide credible solutions to inequality, and alleviate urban poverty and unemployment, the United Nations Human Settlements Programme (UN-Habitat) said on Tuesday with the release of its ‘State of the African Cities 2018’ report. Drawing on a... 

Competition Bill’s national security veto of foreign mergers ‘tightly codified’

By: Terence Creamer     17th July 2018 The national security veto included in the Competition Amendment Bill, which was tabled before Parliament on Tuesday, had been “tightly codified” so as not to deter potential investors, but rather offer certainty, Economic Development Minister Ebrahim Patel said during a briefing in Cape Town.... 

Competition Bill’s national security veto of foreign mergers ‘tightly codified’
Photo by Creamer Media
Economic Development Minister Ebrahim Patel

Yes, we can! – Graça Machel

By: Sashnee Moodley     17th July 2018 Speaking at the sixteenth annual Nelson Mandela Lecture in Johannesburg on Tuesday, Graça Machel called on South Africans to give all youth a chance and evoked former US President Barack Obama’s 2008 presidency campaign slogan ‘Yes, we can!’. Machel said that she was overjoyed to learn of the... 

Yes, we can! – Graça Machel
Photo by Dylan Slater
Graça Machel

Trade conditions worsen – Sacci

By: Creamer Media Reporter      17th July 2018 Trade conditions deteriorated further in June, says the South African Chamber of Commerce and Industry (Sacci). Sacci’s Trade Activity Index (TAI), which measures present trade conditions, moved further into negative territory, at 37, compared with 40 in May. It was also 11 points lower than in... 

ANC support at comfortable 60% – poll

By: Sashnee Moodley     17th July 2018 A poll undertaken by global market research and consulting firm Ipsos revealed that the African National Congress (ANC) could enjoy a comfortable margin in next year’s national election as it has a possible support base of 60%, compared with other parties. Ipsos randomly polled 3 738 adult South... 

ANC support at comfortable 60% – poll

Ramaphosa talks tough on mine safety, says to engage tribal chiefs on land

By: Reuters     17th July 2018 South Africa will tighten its mine safety regulations to hold mine operators accountable for accidental deaths in the industry, President Cyril Ramaphosa said on Monday. Safety is a huge issue in South Africa’s deep and dangerous mines and increasingly a focus for investors. A spate of deaths at... 

New South African private market firm drives international portfolio access for local investors

By: Simone Liedtke     16th July 2018 Global private markets investment manager Partners Group and African information and communications technology impact investor Convergence Partners have joined forces to support the establishment of a private markets firm, Helical Capital Partners, which will provide the South African investor... 

UAE pledges $10bn in investment, South Africa says

By: Reuters     16th July 2018 The United Arab Emirates (UAE) has pledged to invest $10-billion in South Africa's economy, including the tourism and mining sectors, the South African presidency said on Saturday. Saudi Arabia committed a similar sum with a focus on energy during a Middle East visit by South African President... 

Putin to take part in Brics summit in South Africa – Kremlin

By: Reuters     13th July 2018 Russian President Vladimir Putin plans to visit South Africa for a summit of BRICS countries on July 26 and 27, Kremlin foreign policy aide Yuri Ushakov said on Friday. The BRICS group of emerging economies comprises Brazil, Russia, India, China and South Africa. 

Property sector must do more on transformation – PSCC

By: Schalk Burger     12th July 2018 The South African property sector is making reasonable efforts towards transformation, but it needs to pick up the pace, says the Property Sector Charter Council (PSCC). The PSCC this week released the results of its ‘2016-2017 State of Transformation Report’, which sampled institutional... 

South African M&A activity declines in H1

By: Marleny Arnoldi     12th July 2018 Merger and acquisition (M&A) transactions in South Africa declined in terms of both volume and value of domestic and cross-border deals, according to analysis by law firm Baker McKenzie.  

Saudi Arabia pledges to invest R133bn in South African energy sector

By: News24Wire      12th July 2018 President Cyril Ramaphosa’s ambitious plan to attract $100-billion to kick start the country’s struggling economy got a major boost on Thursday, when Saudi Arabia committed to invest $10-billion (about R133-billion) in the country. This is expected to be invested in the energy and power creation... 

Saudi Arabia pledges to invest R133bn in South African energy sector
President Cyril Ramaphosa and Saudi Arabian Minister of African Affairs Mahomed bin Adullah Al-Kattan

Nigeria's President Buhari says will soon sign up to African free-trade agreement

By: Reuters     12th July 2018 Nigeria's President Muhammadu Buhari said on Wednesday the country will sign up soon to a $3-trillion African free-trade agreement. Nigeria is one of Africa's two largest economies, the other being South Africa. Buhari's government had refused to join a continental free-trade zone established in... 

Nigeria's President Buhari says will soon sign up to African free-trade agreement
Photo by Reuters
Nigerian President Muhammadu Buhari

Rand Refinery, South African Mint introduce 1 oz silver Krugerrand

By: Creamer Media Reporter      11th July 2018 Prestige Bullion, a joint venture between Rand Refinery and the South African Mint, will, from August 1, sell 1 oz silver bullion Krugerrands. The silver Krugerrand will be produced in unlimited mintage, dependent on market appetite and linked to the daily price of silver. 

Rand Refinery, South African Mint introduce 1 oz silver Krugerrand
The 1 oz silver Krugerrand

Eskom wage talks: Unions want meeting with Nene, Gordhan

By: News24Wire      11th July 2018 Having reached a “sensitive stage” in the wage negotiation process, unions representing Eskom workers have asked to meet with Finance Minister Nhlanhla Nene and Public Enterprises Minister Pravin Gordhan to resolve the matter. This is according to a statement issued by the National Union of... 

Eskom wage talks: Unions want meeting with Nene, Gordhan
Photo by Reuters
Finance Minister Nhlanhla Nene

SADC Committee of Ministers of Finance meets in South Africa

By: African News Agency      11th July 2018 The Southern African Development Community (SADC) Committee of Ministers of Finance and Investment will meet today in Johannesburg to discuss areas of cooperation and improving regional financial coordination.  The Ministers will be joined by the central bank governors from the region.  

Voluntary PET recycling volumes to grow to 70% within four years

By: Simone Liedtke     10th July 2018 Polyethylene terephthalate (PET) recycling company Petco expects voluntary PET recycling volumes in South Africa to grow to 70% within the next three to four years, Petco chairperson Dr Casper Durandt said on Tuesday. South African bottlers, who are voluntary members of Petco, are increasingly... 

Voluntary PET recycling volumes to grow to 70% within four years
Photo by Dylan Slater
(Left to Right) Petco CEO Cheri Scholtz, CSIR principal researcher Dr Suzan Oelofse, Petco chairperson Dr Casper Durandt

Eskom and IPP deal to create more than 60 000 jobs

By: African News Agency      10th July 2018 More than 60 000 jobs are expected to be created during the 27 new renewable energy plant projects being rolled out under the independent power producers (IPP) programme, valued at some R56-billion. According to a statement issued on behalf of Workforce Staffing, a temporary employment service... 

Eskom and IPP deal to create more than 60 000 jobs

Index points to cautious business confidence 

By: Simone Liedtke     10th July 2018 The South African Chamber of Commerce and Industry’s (Sacci’s) Business Confidence Index (BCI) declined to 93.7 index points in June, compared with 94 index points in May. The BCI for June was also lower than the 94.9 index points registered in June 2017. 

Index points to cautious business confidence 

US to initiate ‘exploratory talks’ on post-Agoa model at Washington forum

By: Terence Creamer     9th July 2018 United States Trade Representative (USTR) Robert Lighthizer will use this week’s African Growth and Opportunities Act (Agoa) Forum in Washington DC to initiate “exploratory talks” with African governments on a possible trade model that could be implemented when the unilateral programme expires in... 

US to initiate ‘exploratory talks’ on post-Agoa model at Washington forum
Photo by Bloomberg
US Trade Representative Robert Lighthizer

You can’t have your cake and eat it, Sanral’s Macozoma warns govt, South Africans 

By: Irma Venter     9th July 2018 South Africa is in critical need of a funding model for its road infrastructure. “The situation with toll in this country now is that, number one, people are anti-toll, and now we can’t toll anything,” said South African National Roads Agency Limited (Sanral) CEO Skhumbuzo Macozoma on Monday at... 

You can’t have your cake and eat it, Sanral’s Macozoma warns govt, South Africans
Photo by Creamer Media
Sanral CEO Skhumbuzo Macozoma

McKinsey overhauls South African office after graft scandal 

By: Reuters     9th July 2018 McKinsey has made sweeping changes to its South Africa business to try to rebuild its reputation following an ill-fated deal with friends of scandal-plagued former President Jacob Zuma. Kevin Sneader, who started as McKinsey's global managing partner last week, announced on Monday that the firm... 

McKinsey overhauls South African office after graft scandal

Digital content incubator launched at Tshimologong precinct 

By: Schalk Burger     9th July 2018 An incubation hub for digital audio-visual content opened on Monday in the Tshimologong Digital Innovation Precinct, in Braamfontein, Johannesburg, through the support of the French development institution Agence Française de Développement (AFD) and the French Institute of South Africa (IFAS). A... 

Digital content incubator launched at Tshimologong precinct
Tshimologong Digital Innovation Precinct CEO Lesley Williams

M&R to assess impact of ATON’s acquisition of a 25% stake in Aveng

By: Schalk Burger     6th July 2018 JSE-listed Murray & Roberts (M&R) will assess the impact of ATON’s acquisition of a 25.42% interest in JSE-listed Aveng. M&R, which is subject to a buyout offer by ATON, has launched a bid to acquire Aveng. M&R shareholders last month voted in favour of the company's independent board further... 

Davies appoints senior DTI officials as SABS co-administrators

By: Terence Creamer     6th July 2018 Trade and Industry Minister Dr Rob Davies has appointed three senior Department of Trade and Industry (DTI) officials as co-administrators of the South African Bureau of Standards (SABS), which he placed under administration on June 28 after dissolving the SABS board. The co-administrators had... 

Davies appoints senior DTI officials as SABS co-administrators
Photo by Creamer Media
Trade and Industry Minister Dr Rob Davies

Business leaders visit Kruger Park to learn about anti-poaching measures

By: African News Agency      6th July 2018 Chief executive officers (CEOs) from various companies visited the Kruger National Park on Friday to learn about what SanParks is doing to help curb rhino poaching, with the hopes of receiving funding from the private sector. Peace Parks Foundation CEO Werner Myburgh said the park was the biggest... 

 Business leaders visit Kruger Park to learn about anti-poaching measures

VAT, fuel price hikes: Ramaphosa gives ministers 2 weeks for plan to ease consumer pain

By: News24Wire      6th July 2018 Government will in two weeks’ time announce a package of economic measures to cushion the public from the crippling effects of high fuel price hikes and the VAT increase, President Cyril Ramaphosa said on Friday. Addressing business and government leaders in Pretoria ahead of the BRICS Summit... 

 VAT, fuel price hikes: Ramaphosa gives ministers 2 weeks for plan to ease consumer pain
President Cyril Ramaphosa

Over R1.3bn investments recorded for Western Cape in Q1 – Wesgro

By: African News Agency      6th July 2018 The Western Cape's investment promotion agency Wesgro said on Friday it had facilitated over R1.3-billion in investments in the first quarter, which would support the creation of 549 direct jobs. It said the nine investment projects secured represented a cross-section of the local economy and... 

Doctors more to blame for private healthcare costs than medical aids

By: African News Agency      6th July 2018 Doctors ordering more medical tests than ideally needed, admitting patients to hospital unnecessarily or to intensive care when a general ward would do are among the activities driving private healthcare costs up – even more so than high medical aid subscriptions. This was among the key findings... 

Cooperative governance minister tackles municipality debt, electricity distribution

By: African News Agency      6th July 2018 South African municipalities are buckling under the pressure of non-payment for services which has resulted in dwindling revenue, threatening delivery of service to communities, the Cooperative Governance and Traditional Affairs (CoGTA) said late on Thursday after its minister Zweli Mkhize met... 

STEM career expo seeks to link youth with prospective employers

By: Schalk Burger     6th July 2018 The science, technology, engineering and mathematics (STEM) Career Expo will provide school goers, undergraduates and graduates with the opportunity to interact directly with companies to determine what careers are available to those interested in STEM, says STEM Career Expo CEO Eric Wright. The... 

26.8% of all cigarettes in South Africa sold under taxable minimum, study finds 

By: Simone Liedtke     5th July 2018 According to a study by independent market researcher Ipsos, 26.8% of all cigarettes in South Africa are sold under the R17.85 minimum, which is payable at excise duty and value-added tax (VAT). It is the responsibility of cigarette manufacturers, the company that owns the trademarks, to pay the... 

26.8% of all cigarettes in South Africa sold under taxable minimum, study finds
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