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Macro and Micro News

Size of government under review

By: Creamer Media Reporter      25th May 2018 President Cyril Ramaphosa revealed on Friday that a review of the size and structure of the National Executive and government departments was under way, with a technical task team having been established to undertake the process. In his reply to a national assembly question by the Democratic... 

Aton increases interest in M&R to 43.70%, lifts offer price to R17 a share

By: Simone Liedtke     25th May 2018 German-owned Aton has acquired a further 18.25-million shares in Murray & Roberts (M&R). Following the settlement of these shares’ acquisition, Aton will hold 194.35-million shares in M&R, representing about 43.70% of the entire issued share capital. 

Probe into influence peddling to start hearings in August

By: Reuters     24th May 2018 An inquiry into allegations of influence peddling revolving around former president Jacob Zuma and businessman friends of his will begin formal public hearings in August and could take two years or more, the head of the commission said on Thursday. The allegations around Zuma, forced from office... 

SARB keeps repurchase rate at 6.5%

By: African News Agency      24th May 2018 South Africa's Reserve Bank (SARB) kept its benchmark repurchase rate at which it lends to commercial banks unchanged at 6.5% on Thursday, saying the stance was appropriate given the forecast inflation trajectory and the current state of the economy. The move follows a 25 basis point decrease at... 

SARB keeps repurchase rate at 6.5%

Aspen opens R1bn high containment facility in Port Elizabeth 

24th May 2018 Pharmaceutical company Aspen officially opened its new high containment facility, valued at about R1-billion, earlier this month. Simone Liedtke tells us more. 

Aspen opens R1bn high containment facility in Port Elizabeth
Aspen opens R1bn high containment facility in Port Elizabeth

Despite somewhat dismal FY18 performance, Famous Brands remains cautiously optimistic

By: Simone Liedtke     24th May 2018 Despite a somewhat dismal performance by some of its operations in the financial year ended February 28, branded food services franchisor Famous Brands remains cautiously optimistic about the South African and African landscape, while feeling reserved about its UK operations. This follows... 

Despite somewhat dismal FY18 performance, Famous Brands remains cautiously optimistic

Coega perfectly poised to participate in lithium-ion battery industry – CDC

By: Simone Liedtke     23rd May 2018 The Coega Special Economic Zone (SEZ) is at an advanced stage of setting up factories that will supply gigawatt factories with manganese, a key ingredient in most lithium-ion batteries. Coega Development Corporation (CDC) business development metallurgic sector manager Sadick Davids says the SEZ... 

Half of Ramaphosa’s SoE council to be made up of people from outside of government

By: Terence Creamer     23rd May 2018 President Cyril Ramaphosa has announced that the composition of the Presidential State-owned Enterprise (SoE) Council, whose establishment has been approved by Cabinet, will be split between Ministers, as well as business people, experts and stakeholders. Speaking in Parliament during the debate... 

Half of Ramaphosa’s SoE council to be made up of people from outside of government
President Cyril Ramaphosa

Municipalities, State-owned companies must release unused land for urban poor – Ramaphosa

By: African News Agency      23rd May 2018 Municipalities and State-owned companies must expropriate and release unused land for housing the country's urban, landless poor, South African President Cyril Ramaphosa said on Wednesday. "Municipalities and State-owned enterprises need to release unused land and service sites for housing so... 

Municipalities, State-owned companies must release unused land for urban poor – Ramaphosa
President Cyril Ramaphosa

Irregular spend by municipalities up 75% to R28.4bn as audit outcomes regress

By: News24Wire      23rd May 2018 Audit outcomes for municipalities have continued to regress, with irregular and fruitless and wasteful expenditure each ballooning more than 70% for the 2016/17 year. This is according to the audit results for the country’s municipalities for the 2016/17 financial year, released by... 

Irregular spend by municipalities up 75% to R28.4bn as audit outcomes regress
Auditor-General Kimi Makwetu

Aton lifts M&R interest to 39.6%

By: Simone Liedtke     22nd May 2018 German-owned Aton, has acquired a further 6 600 issued ordinary shares in Murray & Roberts (M&R) at R15 a share, taking its shareholding in M&R to 39.6%. Aton is seeking to acquire all of the shares in M&R not already owned by it. 

Study offers upbeat view of Africa’s fourth industrial revolution manufacturing prospects

By: Terence Creamer     22nd May 2018 A newly released study into prospects for manufacturing in Africa offers a relatively upbeat assessment of the industrialisation opportunities that could arise should governments move decisively to harness the disruptive trends associated with the unfolding fourth industrial revolution. Titled... 

Study offers upbeat view of Africa’s fourth industrial revolution manufacturing prospects

Ascendis to get secondary listing on A2X

By: Simone Liedtke     22nd May 2018 Multinational healthcare company Ascendis Health will from May 29, also start trading on new exchange A2X. This follows the approval on Tuesday, in which the company was included in the list of qualifying equity securities. 

Feasibility study on moving Parliament to Pretoria to start this month – Speaker

By: African News Agency      22nd May 2018 Parliament has appointed a service provider to conduct a feasibility study on moving the national legislature to Pretoria, Speaker Baleka Mbete told members of Parliament (MPs) on Tuesday. "With respect to the proposal of relocating parliament from Cape Town to Pretoria, an external service... 

Feasibility study on moving Parliament to Pretoria to start this month – Speaker

Water officials responsible for irregular spending to get second chance – Nkwinti

By: News24Wire      22nd May 2018 Water and sanitation officials who were involved in dodgy practices that contributed to the department's R6.7-billion in irregular spending last year are to be given a second chance, Minister of Water and Sanitation Gugile Nkwinti said on Tuesday. But he will be watching them. "Part of our... 

Water officials responsible for irregular spending to get second chance – Nkwinti
Water & Sanitation Minister Gugile Nkwinti

Some South African municipalities in financial distress – Treasury

By: Anine Kilian     22nd May 2018 Many municipalities remain in dire financial straits, says the National Treasury.  Its latest report on the state of local government, entitled ‘The State of Local Government and Financial Management 2017’, which was published this week, shows that 17 district municipalities were identified as... 

Ramaphosa appoints new presiding officer for Tom Moyane disciplinary inquiry

By: News24Wire      22nd May 2018 President Cyril Ramaphosa has appointed advocate Azhar Bham, SC, as the presiding officer into the disciplinary charges against suspended South African Revenue Service (Sars) commissioner Tom Moyane. Ramaphosa had initially appointed Judge Kate O’Regan to do the inquiry. 

 Ramaphosa appoints new presiding officer for Tom Moyane disciplinary inquiry
Photo by Creamer Media
Suspended Sars commissioner Tom Moyane

Land reform unlikely to mean constitutional change – analysts

By: Reuters     22nd May 2018 South Africa looks likely to implement land redistribution under existing laws rather than by changing the constitution following a ruling party summit, in an approach more palatable to investors, analysts said on Tuesday. President Cyril Ramaphosa, who came to power in February when former... 

Land reform unlikely to mean constitutional change – analysts

Nene says outlook for tax revenues unchanged

By: Reuters     22nd May 2018 Finance Minister Nhlanhla Nene said on Tuesday that the outlook for tax revenues remain unchanged, in a blow to the chances of reducing the budget deficit. Nene made the comments in parliament. 

Nene says outlook for tax revenues unchanged
Photo by Creamer Media
Finance Minister Nhlanhla Nene

Proposed Mpumalanga SEZ to boost provincial economy, skills development

By: Simone Liedtke     21st May 2018 Trade and Industry Minister Dr Rob Davies has approved a recommendation that the Nkomazi Special Economic Zone (SEZ), in Mpumalanga, be designated and has called on the public and interested parties to comment on the proposed designation by June 28. The application for the designation of the... 

Operational due diligence important to mitigating risk

By: Anine Kilian     21st May 2018 Investing in operational risk management is key to mitigating corporate fraud, poor governance and simple errors which result in losses for companies and consequently investors, Mercer Sentinel Africa Middle East, India and Turkey head Nigel Morriss said on Monday. Addressing media at a briefing... 

Aton says will not support M&R’s proposed transaction with Aveng

By: Simone Liedtke     21st May 2018 German-owned Aton believes Murray & Roberts (M&R) is putting its interests ahead of that of shareholders and other stakeholders with its proposed combination with Aveng. The sole intent of M&R’s announcement on Friday that it plans to merge with Aveng, Aton states, is to frustrate Aton’s... 

Government wage deal to go ahead, despite urgent call for more consultation

By: News24Wire      21st May 2018 The Public Service Coordinating Bargaining Council (PSCBC) will on Monday morning present the agreement to trade unions and government to be signed, as the Federation of Unions of South Africa (Fedusa) has called for a postponement and asked for more time to consult with members. Fedusa’s... 

Government wage deal to go ahead, despite urgent call for more consultation
Minister of Public Service and Administration Ayanda Dlodlo

Energy sector to contribute $25bn to SA’s $100bn investment target 

18th May 2018 Creamer Media's Chanel de Bruyn speaks to Engineering News Editor Terence Creamer about Energy Minister Jeff Radebe’s belief that the energy sector can contribute $25-billion of the $100-billion investment target set by President Cyril Ramaphosa. 

Energy sector to contribute $25bn to SA’s $100bn investment target
Energy sector to contribute $25bn to SA’s $100bn investment target

Zuma's presidency was a total disaster – Trevor Manuel

By: News24Wire      17th May 2018 The presidency of Jacob Zuma was a total disaster for South Africa, former finance minister Trevor Manuel said on Wednesday night. "I make no apologies for sharing my view that the presidency of Jacob Zuma was a total disaster for South Africa," said Manuel. Manuel delivered the keynote address... 

Zuma's presidency was a total disaster – Trevor Manuel
Photo by Creamer Media
Former Finance Minister Trevor Manuel

Technical construction used to change historical building to modern art museum 

17th May 2018 The Zeitz Museum of Contemporary Art Africa, built inside of the old grain silo at the V&A Waterfront, in Cape Town, required specialist concretes and technical formwork to realise the vision of the architect Thomas Heatherwick. Schalk Burger has the details. Also making headlines, South African... 

Technical construction used to change historical building to modern art museum
Technical construction used to change historical building to modern art museum

Santova achieves 13.5% organic profit growth in line with strategic focus

By: Schalk Burger     16th May 2018 JSE-listed logistics company Santova grew its profit by 13.5% to R71.3-million for the financial year ended February 28, from R62.8-million in 2017, with the performance of the group having been “purely organic,” the company said on Wednesday. This is the result of a strategic choice focused... 

Radebe sees energy contributing $25bn to South Africa’s $100bn investment target

By: Terence Creamer     16th May 2018 Energy Minister Jeff Radebe says one-quarter, or $25-billion, of South Africa's newly announced five-year investment target of $100-billion could be met through investments in new energy projects, including a possible new greenfield crude oil refinery and a gas pipeline linking South Africa to... 

Radebe sees energy contributing $25bn to South Africa’s $100bn investment target
Photo by Dylan Slater
Energy Minister Jeff Radebe

Strong results confirm Capprec’s asset value, growth prospects

By: Schalk Burger     16th May 2018 The strong full year financial results of JSE-listed financial technology (fintech) special-purpose acquisition company Capital Appreciation (Capprec) confirm the value of the assets it acquired over the past few years and promises strong organic growth, said Capprec joint-CEO Bradley Sacks on... 

South Africa issues $2bn bonds in global markets – National Treasury

By: African News Agency      16th May 2018 South Africa on Tuesday successfully placed $2 billion in notes maturing in 2030 and 2048 in the international capital markets, the National Treasury said on Wednesday. The Treasury said the total issuance consisted of $1.4 billion on the 12-year tranche and $600-million on the 30-year paper. The... 

South Africa views African integration as potential trade-war bulwark

By: Terence Creamer     15th May 2018 Trade and Industry Minister Dr Rob Davies reports that South Africa will be prioritising an acceleration of market integration across Africa as part of efforts to mitigate the risks associated with the prospect of trade wars, as well as what he describes as a growing disregard for the... 

South Africa views African integration as potential trade-war bulwark

Government ready to do business with the private property sector – Nxesi

By: Simone Liedtke     15th May 2018 The government is ready to do business with the private property sector to bring certainty to the market, says Public Works Minister Thulas Nxesi. Delivering his Budget Vote in Parliament, on Tuesday, the Minister said market certainty would be based on market-related pricing, improved value and... 

Government faces strike action over protracted wage talks

By: News24Wire      15th May 2018 The Public Servants Association (PSA) will start balloting its members in favour of a strike as the union grows increasingly frustrated with protracted government wage negotiations. “The employer has plunged the public service into total collapse, and the PSA has strongly warned against this... 

Government faces strike action over protracted wage talks

Business, Cogta agree on cooperation plan for municipalities

By: Thabi Madiba     15th May 2018 Business Unity South Africa (Busa) and the Department of Cooperative Governance and Traditional Affairs (Cogta) have agreed to cooperate in setting up a structured process aimed at resolving some of the key challenges facing many of South Africa’s dysfunctional municipalities, particularly in the... 

Business, Cogta agree on cooperation plan for municipalities

Unemployment rate steady at 26.7% in Q1

By: Reuters     15th May 2018 South Africa's unemployment rate was unchanged at 26.7% of the labour force in the first quarter of 2018 compared with the last quarter of 2017, the statistics office said on Tuesday. In its quarterly labour force survey which polls households, Statistics South Africa said there were six-million... 

Unemployment rate steady at 26.7% in Q1

Some inroads made after ten years of the Industrial Policy Action Plan - Davies

By: Kim Cloete     15th May 2018 Ramping up production in the automotive sector, resuscitating the ailing tooling industry and boosting the clothing, textiles, leather and footwear industries are among successes the government has listed in its review of ten years of the Industrial Policy Action Plan (Ipap). Despite a... 

Some inroads made after ten years of the Industrial Policy Action Plan - Davies

Government releases its tenth Industrial Policy Action Plan 

By: Kim Cloete     15th May 2018 The government has released its Industrial Policy Action Plan (Ipap) 2018, with a sharp focus on deepening industrial development, speeding up radical economic transformation and increasing the ability to produce higher value-added products. Trade and Industry Minister Dr Rob Davies said it was... 

Government releases its tenth Industrial Policy Action Plan
Photo by Creamer Media
Trade and Industry Minister Dr Rob Davies
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