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Macro and Micro News

Treasury announces progress on national health insurance bill  

By: African News Agency      16th November 2018 The South African National Treasury on Friday announced it made “substantial” progress on the national health insurance (NHI) Bill consultation in key areas and have reached agreement on most of the major issues. “We have made substantial progress on key areas and have reached agreement on most... 

All not lost, despite trust deficit between govt, private sector

By: Simone Liedtke     16th November 2018 The current trust deficit between government and the private sector is not just based on the private sector’s belief that nothing can or will be done, but rather on the lack of correctly identifying opportunities when trying to bridge the gap. This sentiment, shared by panellists during a... 

All not lost, despite trust deficit between govt, private sector

Treasury report finds Koko meddled to help Tegeta

By: African News Agency      16th November 2018 Former Eskom CEO Matshela Koko obstructed coal testing that would have compromised the contract Tegeta Exploration cinched with the power utility, according to a forensic report released by National Treasury on Friday. The report by Fundudzi Forensic Investigation Services details how Eskom... 

 Treasury report finds Koko meddled to help Tegeta
Photo by Creamer Media
Former Eskom CEO Matshela Koko

Malusi Gigaba named in bombshell Treasury report on rot at Eskom, Transnet 

By: News24Wire      16th November 2018 National Treasury has released a bombshell report of more than 600 pages detailing the extent of rot at Transnet and Eskom over the last six years – and says Malusi Gigaba compromised the procurement process of controversial new Chinese locomotives. The report, compiled after a forensic... 

Malusi Gigaba named in bombshell Treasury report on rot at Eskom, Transnet
Photo by Bloomberg
Former Home Affairs Minister Malusi Gigaba

Common understanding required between govt, small business to respond to challenges – Zulu

By: Simone Liedtke     15th November 2018 With the Fourth Industrial Revolution (4IR) fast approaching, Small Business Development Minister Lindiwe Zulu on Thursday said a common understanding was needed among all people in South Africa in order to respond to the challenges and possibilities that it presents. This, she told delegates... 

Common understanding required between govt, small business to respond to challenges – Zulu
Photo by Dylan Slater
Small Business Development Minister Lindiwe Zulu

Own revenue generation enables Gauteng to extend budget allocation by R1.9bn  

By: Marleny Arnoldi     15th November 2018 Finance MEC Barbara Creecy has increased the Gauteng Provincial Government’s budget by R1.9-billion to R123.2-billion, compared with the R121.4-billion budget that was announced in March. Presenting the Adjustment Budget and Medium Term Budget Policy Statement in the Gauteng Legislature, on... 

‘Massive’ fuel price drop on the cards for December – AA

By: News24Wire      15th November 2018 The Automobile Association (AA) announced on Thursday that, based on current data, motorists could expect ‘massive drops’ in the prices of petrol and diesel for December.  The association is predicting a drop of R1.54 per litre for petrol, with diesel dropping by 92 cents and illuminating... 

 ‘Massive’ fuel price drop on the cards for December – AA

Committee gives green light for Constitutional amendment on land reform 

By: African News Agency      15th November 2018 The ruling African National Congress (ANC) on Thursday, dismissed accusations by opposition parties that the process which led to the adoption of a draft report by members of Parliament (MPs) on Thursday in favour of changing the Constitution to explicitly provide for land expropriation without... 

Committee gives green light for Constitutional amendment on land reform

Malusi Gigaba resigns as MP 

By: News24Wire      15th November 2018 Malusi Gigaba has resigned as a Member of Parliament, saying it was his honour and privilege to serve as a MP for the African National Congress (ANC). The Office of the Speaker and ANC Chief Whip Jackson Mthembu confirmed Gigaba's resignation on Thursday, effective from Tuesday, November 13. "It... 

Malusi Gigaba resigns as MP
Photo by Reuters
Former Home Affairs Minister Malusi Gigaba

SA municipalities expect budget deficit of R4.7bn in 2018/19 – Treasury 

By: African News Agency      15th November 2018 The revenue for South African municipalities is expected to rise to R431.5-billion in 2019/20 and R462.5-billion in 2020/21 from a budgeted R404.6-billion for 2018/19, the National Treasury said on Thursday. In a statement on the medium term revenue and expenditure framework for municipalities,... 

SA municipalities expect budget deficit of R4.7bn in 2018/19 – Treasury

China lending to sub-Saharan Africa can support growth, but brings risks – Moody's

By: African News Agency      15th November 2018 China’s increased lending to governments in sub-Saharan Africa has the potential to support economic growth, but also amplifies credit risks for countries with high debt, ratings agency Moody’s has said. “Unless African investment financed by Chinese loans generates substantial economic gains... 

Nzimande in, Gigaba out, but home affairs questions get bumped in the House

By: News24Wire      15th November 2018 Acting Minister of Home Affairs Blade Nzimande may have been present during the oral question session in Parliament on Wednesday, but answers to key questions in this portfolio were not. Former Home Affairs Minister Malusi Gigaba, now an ordinary MP, was also absent. Gigaba resigned this week... 

Nzimande in, Gigaba out, but home affairs questions get bumped in the House
Acting Home Affairs Minister Blade Nzimande

Eskom highlights risk of further debt accumulation as it gears up to defend big hikes 

By: Terence Creamer     14th November 2018 Debt-laden electricity utility Eskom is preparing for yet another bruising encounter with consumers in the coming months, during which it will seek to justify it latest R762-billion, three-year revenue application. If successful with its fourth multiyear price determination (MYPD4) application,... 

Eskom highlights risk of further debt accumulation as it gears up to defend big hikes

Need for regulatory, payment efficiencies highlighted during SME Indaba

By: Schalk Burger     14th November 2018 The efficiency of securing regulatory compliance and the speed at which small and medium-sized enterprises (SMEs) are paid by private companies and public organisations were on Wednesday cited as some of the biggest concerns for small businesses. Speaking at the Small Business Institute (SBI) SME... 

Land issue is a festering sore – Ramaphosa 

By: News24Wire      14th November 2018 Whenever President Cyril Ramaphosa travels abroad and hosts a media conference, he now inevitably faces questions around land reform without expropriation. His stock answer? That without comprehensive land reform, South Africa's hard-won stability may come undone. While Wednesday was no... 

 Land issue is a festering sore – Ramaphosa
President Cyril Ramaphosa & European Parliament President Antonio Tajani

South Africa's land expropriation unnerves investors – World Bank executive

By: Reuters     14th November 2018 Plans by South Africa's ruling African National Congress (ANC) to change the constitution to allow the expropriation of land without compensation have unnerved investors, a senior World Bank group executive said on Wednesday. President Cyril Ramaphosa's party has made the acceleration of land... 

South Africa's land expropriation unnerves investors – World Bank executive

Quality of life for Africans low in Gauteng – survey

By: Sashnee Moodley     14th November 2018 The African population in Gauteng has a quality of life index score that is below the provincial average and is not catching up with white South Africans, who are seeing larger gains in measured quality of life. This is according to the fifth edition of the Gauteng City Region Observatory (GCRO)... 

Quality of life for Africans low in Gauteng – survey
Gauteng Premier David Makhura

Gigaba resigns as Home Affairs Minister

By: Reuters     13th November 2018 Home Affairs Minister Malusi Gigaba has resigned, the Presidency said on Tuesday, following calls from opposition parties to stand down in recent weeks over a High Court ruling which found he lied under oath. Gigaba, who was finance minister between March 2017 and February 2018, has denied any... 

Flexibility to take on ‘unprecedented importance’ as renewables rise 

By: Terence Creamer     13th November 2018 The International Energy Agency (IEA) says that higher shares of variable renewable energy in electricity systems will require a “step change” in the requirement for flexibility, which is the capability to balance electricity supply and demand at all times so as to keep the lights burning. The... 

Flexibility to take on ‘unprecedented importance’ as renewables rise

Torre receives buyout offer from consortium

By: Simone Liedtke     12th November 2018 JSE-listed industrial group Torre Industries on Monday said a consortium has expressed a firm intention to make an offer to acquire 100% of the total issued ordinary share capital in Torre. The consortium comprises Main Street 1641, a special purpose vehicle established by Ethos Mid-Market Fund,... 

Ramaphosa heading to France, Belgium

By: African News Agency      12th November 2018 President Cyril Ramaphosa will this week lead a South African delegation on a working visit to the European Union (EU), International Relations Minister Lindiwe Sisulu said on Monday. "President Ramaphosa will from 14 to 15 November 2018 lead a South African delegation on a working visit to the... 

Ramaphosa heading to France, Belgium
President Cyril Ramaphosa

South Africa needs an ‘explicit’ digital industrial policy 

By: Terence Creamer     12th November 2018 Trade and Industry Minister Dr Rob Davies is warning that unless South Africa develops and “explicit digital industrial policy” there is no guarantee that the potential benefits of the so-called Fourth Industrial Revolution will outweigh the disadvantages. South Africa has had an official... 

South Africa needs an ‘explicit’ digital industrial policy
Photo by Creamer Media
Trade and Industry Minister Dr Rob Davies

Mindworx, Rainmaker join forces to accelerate African businesses’ digital transformation

By: Simone Liedtke     12th November 2018 Business services consultancy Mindworx and UK-based digital and business transformation specialist Rainmaker Solutions have joined forces to accelerate the transformation of African businesses for the digital age. The partnership combines global innovation with local expertise and provides... 

Deregulated India attracting tens of billions of dollars in foreign investment

By: Rebecca Campbell     12th November 2018 India attracted $44.9-billion in foreign direct investment during the 2017/2018 financial year, Indian High Commissioner to South Africa Ruchira Kamboj highlighted on Monday. She was addressing the Invest in India Business Forum in Sandton, north of Johannesburg. "Why India? Because it's the new... 

Omnia shares fall as it warns of interim loss

By: Simone Liedtke     12th November 2018 Local chemicals company Omnia Holdings’ share price on the JSE fell by more than 16% on Monday after it announced that it expects to swing to a loss a share for the six months to September 30. It expects to report a loss a share of between 85c and 170c, compared with the earnings a share of 423c... 

Standard Bank launches Internet banking in Chinese

By: Simone Liedtke     9th November 2018 Financial services provider Standard Bank successfully launched its first Chinese Internet banking site in Angola this week. With more than 30 000 active Chinese-owned firms in Africa, Standard Bank believes it can grow Africa-China trade by building and managing an innovative and effective... 

Numsa demands bailout for Denel

By: Reuters     9th November 2018 South Africa's government must urgently inject at least R7-billion into struggling State-owned defence group Denel, the National Union of Metalworkers of South Africa (Numsa) said on Friday. Denel reported a R1.7-billion for the 2017/18 financial year and is struggling to pay worker salaries and... 

Numsa demands bailout for Denel

Allied Steelrode launches second stretcher leveller to meet growing demand 

By: Simone Liedtke     8th November 2018 As a result of increasing demand for stretched and flattened steel, local steel supplier and processing company Allied Steelrode on Thursday launched a second stretcher leveller at its Midvaal-based facility for the production of Allied Steelrode Stretcher Material (ASSM). Having the stresses of... 

Allied Steelrode launches second stretcher leveller to meet growing demand
Allied Steelrode executive director Warne Rippon and group CE Arun Chadha speak to Engineering News Online about the company’s most recent purchase, a second stretcher leveler, as well as some of the company’s corporate social investments in the Midvaal area. Video & Editing: Nicholas Boyd

To unlock sustained investment Africa must ‘resolve problems that keep investors away’  

By: Terence Creamer     8th November 2018 If Africa is to seize the opportunities of the future, it needs to mobilise large-scale, sustained investment, especially in infrastructure, President Cyril Ramaphosa said in his address at the Africa Investment Forum under way in Johannesburg this week. Organised by the African Development Bank... 

To unlock sustained investment Africa must ‘resolve problems that keep investors away’
President Cyril Ramaphosa

African governments need business to mobilise large scale investments – Ramaphosa

By: African News Agency      8th November 2018 Africa needs to mobilise large-scale, sustained investment, especially in infrastructure if it is to seize the opportunities of the future, but African governments cannot do this without business, President Cyril Ramaphosa said on Thursday. "The private sector and private markets are key players... 

African governments need business to mobilise large scale investments – Ramaphosa
President Cyril Ramaphosa

Makhura says Gauteng plays big part in intra-Africa trade

By: African News Agency      8th November 2018 Gauteng Premier David Makhura said on Thursday that by hosting the inaugural African Investment Forum (AIF), South Africa has placed itself at the service of the African continent as the catalyst for investment, and that Gauteng was already playing its part in intra-Africa trade. Speaking at the... 

 Makhura says Gauteng plays big part in intra-Africa trade
Gauteng Premier David Makhura

Public Protector investigating Gordhan 

By: Reuters     8th November 2018 South Africa's anti-corruption watchdog said on Thursday that it was investigating Public Enterprises Minister Pravin Gordhan, a close ally of President Cyril Ramaphosa, for allegedly abusing his powers during his time as finance minister. The watchdog said it was looking into allegations that... 

Public Protector investigating Gordhan
Photo by Creamer Media
Public Enterprises Minister Pravin Gordhan

Gordhan warns of State capture 'fightback' across government entities

By: News24Wire      8th November 2018 Public Enterprises Minister Pravin Gordhan has warned of a "determined and vigorous fightback" campaign from those opposed to efforts to implement clean governance at state entities. In his submission to the judicial commission of inquiry into State capture, Gordhan says there are still elements... 

Gordhan warns of State capture 'fightback' across government entities
Photo by Reuters
Public Enterprises Minister Pravin Gordhan

South Africa's financial stability threatened by MTN's $10bn Nigeria bill – SARB

By: Reuters     8th November 2018 Billions of dollars in fines owed by South African companies MTN and Standard Bank to Nigerian regulators could increase the risk to South Africa's financial system, the South African Reserve Bank (SARB) said on Wednesday. The Nigerian central bank in August accused telecoms firm MTN and its... 

Nzimande: We're not scrapping e-tolls, and they're not just a Gauteng issue

By: News24Wire      8th November 2018 Government is not scrapping e-tolls and the issue of payment will be settled at a national level, Transport Minister Blade Nzimande has told members of Parliament. The minister was answering questions in Parliament on Wednesday. Democratic Alliance MP Manny de Freitas asked the minister if any... 

 Nzimande: We're not scrapping e-tolls, and they're not just a Gauteng issue
Transport Minister Blade Nzimande

NTP awaits NNR’s signature of approval to restart production

By: Simone Liedtke     7th November 2018 State-owned South African Nuclear Energy Corporation (Necsa) CEO Phumzile Tshelane remains hopeful that production at its subsidiary NTP Radioisotopes’ facility will resume within the next two weeks, pending approval from the National Nuclear Regulator (NNR). Production at the facility was shut... 

NTP awaits NNR’s signature of approval to restart production
Photo by Dylan Slater
(Left) Necsa CEO Phumzile Tshelane and (Right) Necsa board chairperson Kelvin Kemm

Gauteng ready to move Africa from a legacy of aid to a future of investment – Makhura

By: African News Agency      7th November 2018 Gauteng Premier David Makhura has encouraged businesses to invest in the growth of the African economy, saying that his province was ready to contribute to its realisation. Speaking at the opening day of the Africa Investment Forum in Johannesburg, Makhura said that Gauteng contributed 35 percent... 

Gauteng ready to move Africa from a legacy of aid to a future of investment – Makhura
Photo by Creamer Media
Gauteng Premier David Makhura
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