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Macro and Micro News

FNB economists welcome interest rates cut

By: African News Agency      Updated 3 hours ago Economists on Friday welcomed the decreased interest rates, saying that it would have a positive impact on many sectors of the economy, including agriculture, investment, and franchising. This comes after the South African Reserve Bank (Sarb) announced on Thursday, that the Monetary Policy... 

South Africa makes surprise recovery in 2017 reputation index

By: Terence Creamer     Updated 6 hours ago Despite ongoing political turmoil and an increase in policy uncertainty, South Africa made a surprise recovery in the 2017 edition of a global reputation study, rising four places to 45 out of 71 countries measured. Unveiling the results of the latest Country RepTrak study, which has been... 

South Africa makes surprise recovery in 2017 reputation index

SA committed to increasing trade with Zambia, says DTI minister

By: African News Agency      21st July 2017 South Africa was committed to increasing trade and addressing the trade imbalance with Zambia. This was according to South Africa’s Minister of Trade and Industry, Dr Rob Davies, ahead of a two-day Outward Trade and Investment Mission to Lusaka, Zambia, from 24-25 July. 

SA committed to increasing trade with Zambia, says DTI minister
Trade and Industry Minister Dr Rob Davies

Reserve Bank cuts repo rate, denies political pressure

By: Reuters     20th July 2017 South Africa's central bank unexpectedly cut its benchmark lending rate for the first time in five years on Thursday, citing weak growth and easing inflation, and denied any pressure from recent political attacks against its mandate. South Africa's main anti-graft watchdog recommended last month... 

Reserve Bank cuts repo rate, denies political pressure
Photo by Reuters
Lesetja Kganyago

Africa's major central banks embarking on policy easing cycle ride

By: Reuters     20th July 2017 Africa's major central banks are entering an easing cycle as they try to stimulate growth after months of drought, austerity drives and confidence issues across the continent, a Reuters poll found on Thursday. Much of southern and eastern Africa is still recovering after an El Niño-related... 

I will vote with my conscience – Gordhan  

By: Sashnee Moodley     18th July 2017 Former Finance Minister Pravin Gordhan said on Tuesday that he will be voting with his conscience during a vote of no confidence against President Jacob Zuma on August 8. Speaking to media at the Conference for the Future of South Africa, organised by civil society organisations Save South Africa... 

I will vote with my conscience – Gordhan
Pravin Gordhan discusses corruption, Mandela Day & civil society.

Civil society unites to combat State capture  

By: Sane Dhlamini     18th July 2017 Representatives from over 130 civil society organisations gathered on Tuesday at the Conference for the Future of South Africa, in Johannesburg, to publicly unite South Africa against corruption, State capture and the abuse of power by President Jacob Zuma’s government. The conference, organised... 

Civil society unites to combat State capture
Sipho Pityana discusses the Conference for the Future of SA. (Camera & editing: Nicholas Boyd)

EOH's shares fall 10% over graft allegations

By: Reuters     18th July 2017 Shares in South Africa's largest technology group EOH Holdings fell nearly 10% to more than two-year lows on Tuesday after allegations of corruption, which the firm has denied. An opinion piece in Business Report newspaper on Monday accused EOH of being involved in corruption based on a report by... 

Zuma should step aside – Gordhan

By: News24Wire      18th July 2017 President Jacob Zuma should step aside and allow someone to lead the country and reset the course to fulfil the kind of aspirations that Nelson Mandela and his generation had for South Africa, former finance minister Pravin Gordhan said on Tuesday. Gordhan told talk show host Eusebius McKaiser in... 

Zuma should step aside – Gordhan
Photo by Reuters
Former Finance Minister Pravin Gordhan

Outa lays treason charges against Muthambi 

By: African News Agency      17th July 2017 The Organisation Undoing Tax Abuse (Outa) on Monday announced it had laid treason charges against former Communications Minister Faith Muthambi. Based on information contained in the #GuptaEmails showing Muthambi had purportedly sent confidential cabinet documents, including a Presidential... 

Outa lays treason charges against Muthambi
Former Communications Minister Faith Muthambi

Water and sanitation department DG given notice of intention to suspend him – DWS

By: African News Agency      17th July 2017 Water and sanitation department director general Dan Mashitisho has been given a notice of intention to suspend, subject to him providing reasons as to why he should not be suspended, the ministry said on Sunday. Water and Sanitation Minister Nomvula Mokonyane had “requested the DG to provide... 

Public Protector’s Absa report ‘reckless’ – Reserve Bank Governor 

By: African News Agency      14th July 2017 A report by Public Protector Busisiwe Mkhwebane into a government loan to Absa shows her lack of competency and understanding of both the Constitution and economy, Reserve Bank governor Lesetja Kganyago charges in an affidavit filed in the high court in Pretoria, made public on Friday. In the... 

Public Protector’s Absa report ‘reckless’ – Reserve Bank Governor
Photo by Reuters
Public Protector Busisiwe Mkhwebane

National Treasury’s action plan may not be enough – economists

By: Natasha Odendaal     14th July 2017 Industry is not viewing Finance Minister Malusi Gigaba’s new 14-point plan as likely to stimulate the growth South Africa desperately needs. Rather, economists are viewing it as a group of administrative measures that will only move to stabilise the battered economy. Released on Thursday,... 

National Treasury’s action plan may not be enough – economists
Finance Minister Malusi Gigaba

Outa welcomes Myeni’s SAA departure  

By: Sane Dhlamini     14th July 2017 The Organisation Undoing Tax Abuse (Outa) on Friday welcomed Finance Minister Malusi Gigaba’s announcement that South African Airways (SAA) chairperson Dudu Myeni would not serve another term on the board.  Her term expires on August 31 and a new board chairperson will be appointed at the SAA... 

Outa welcomes Myeni’s SAA departure
Photo by Duane Daws
SAA Chair Dudu Myeni

Gigaba tables economy action plan, reopens mining charter engagement 

By: Natasha Odendaal     13th July 2017 Finance Minister Malusi Gigaba on Thursday unveiled a series of aggressive planned interventions and action steps to stimulate economic recovery after South Africa’s fall into recession in the first quarter. His address revealed two main desired outcomes – dodge another downgrade and reignite... 

Gigaba tables economy action plan, reopens mining charter engagement
Finance Minister Malusi Gigaba

Seifsa and Neasa in war of words as metals sector strike looms

By: Terence Creamer     12th July 2017 The Steel and Engineering Industries Federation of Southern Africa (Seifsa) has described suggestions that it is only representing the interests of large employers in the metals and engineering sector as malicious “propaganda”, arguing that it “fights hard” to represent both small and big... 

Seifsa and Neasa in war of words as metals sector strike looms

State capture must be probed, 'billions of rands' lost through it recovered – Ramaphosa

By: News24Wire      12th July 2017 Deputy President Cyril Ramaphosa says South Africa needs to recover all the money stolen through State capture. "We now know without any shred of uncertainty that billions of rands of public resources have been diverted into the pockets of a few," said Ramaphosa. 

RH Bophelo lists on JSE, aims to increase access to healthcare

By: Creamer Media Reporter      12th July 2017 Black-owned investment company RH Bophelo on Wednesday listed on the JSE as a special purpose acquisition company (SPAC). The company aims to increase access to quality healthcare among people in the lower to middle income brackets who cannot afford private healthcare as it is currently... 

RH Bophelo lists on JSE, aims to increase access to healthcare
JSE CEO Nicky Newton-King, RH Bophelo CEO Quinton Zunga, RH Bophelo chairperson John Oliphant and Third Way Investment Partners CEO Fulu Makwetla.

Zuma has no grounds to stop state capture inquiry - Mkhwebane

By: News24Wire      12th July 2017 President Jacob Zuma has no grounds on which to attack the remedial action former public protector Thuli Madonsela set out in her State of Capture report, her successor says in court papers. His application for a court to review and set aside Madonsela’s recommendations lacks any prospect of... 

Zuma has no grounds to stop state capture inquiry - Mkhwebane
President Jacob Zuma

SAB invests R2.8bn in expanding Gauteng breweries

By: Anine Kilian     11th July 2017 Multinational beverage and brewing company Anheuser-Busch InBev (AB-InBev) subsidiary South African Breweries (SAB) will invest R2.8-billion into brewery expansions, including two new packaging lines for returnable glass bottles, at its Alrode and Rosslyn breweries, in Gauteng. During a media... 

SAB invests R2.8bn in expanding Gauteng breweries
AB-InBev Africa president Ricardo Tadeu

South Africa’s policy uncertainty pushed further into negative territory

By: Natasha Odendaal     11th July 2017 The heightened policy uncertainty, revealed by the North West University (NWU) School of Business and Governance’s latest quarterly Policy Uncertainty Index (PUI), shows an urgent need for South Africa to “get the politics right in order to get the economics right” to promote the policy certainty... 

State capture, corruption serious hurdle to radical economic transformation in South Africa – Makhura

By: African News Agency      11th July 2017 Gauteng Premier David Makhura on Tuesday said corruption and State capture were two of the most serious stumbling blocks to achieving radical economic transformation in South Africa. Makhura was speaking at the South African Communist Party's (SACP's) 14th National Congress where delegates will... 

State capture, corruption serious hurdle to radical economic transformation in South Africa – Makhura
Gauteng Premier David Makhura

Manufacturing output down 0.8% y/y in May

By: Reuters     11th July 2017 South Africa's manufacturing output fell 0.8% year-on-year in May, contracting less than expected, after falling by 4.2% in April, Statistics South Africa said on Tuesday. Economists polled by Reuters had forecast manufacturing volumes would contract by 4.5% year-on-year in May. 

Treasury must remain independent, says Pandor

By: News24Wire      11th July 2017 Treasury in a democratic country must remain independent, African National Congress (ANC) National Executive Congress (NEC) member Naledi Pandor said on Monday. She appeared to disagree with a proposal made at the ANC’s national policy conference last week, that the budget and resource allocation... 

Treasury must remain independent, says Pandor
Photo by Duane Daws
ANC NEC member Naledi Pandor

Parliament files affidavit regarding public protector’s ‘CIEX report’

By: African News Agency      10th July 2017 National Assembly Speaker Baleka Mbete has filed an affidavit supporting the South African Reserve Bank’s (Sarb's) court application on Public Protector Busisiwe Mkhwebane’s so-called “CIEX Report” and findings, parliament said on Sunday. In her affidavit filed on Friday, Mbete also asked the... 

Parliament files affidavit regarding public protector’s ‘CIEX report’
Photo by Reuters
Public Protector Busisiwe Mkhwebane

Ekurhuleni tops metros in governance in BD index

By: African News Agency      10th July 2017 The Business Day newspaper’s new index that tracks how well cities and towns spend residents’ money has ranked the City of Ekurhuleni top in the country, the city said on Sunday. Released in June, the index allocated each municipality a score out of 100 points based on five indicators – the... 

Ekurhuleni tops metros in governance in BD index
Ekurhuleni Mayor Mzwandile Masina

Focus on Africa taken forward at Hamburg G20 summit – Zuma

By: African News Agency      10th July 2017 The German presidency of the G20 this week managed to build on the achievements of the last summit in China which had emphasised sustainable development in Africa, President Jacob Zuma said on Sunday. In a statement issued by the presidency after his return from the summit in Hamburg, Zuma said... 

Focus on Africa taken forward at Hamburg G20 summit – Zuma
President Jacob Zuma

JSE’s cost savings drive to result in 60 job cuts

By: Megan van Wyngaardt     7th July 2017 The JSE plans to reduce its technology operating expenditure by a minimum of R70-million over a two-year period, which will also result in the stock exchange reducing its staff complement by 60 people. Noting that the plans form part of its ongoing cost optimization drive, JSE CEO Nicky... 

JRA to erect R16.4m pedestrian bridge in Diepsloot

By: Megan van Wyngaardt     7th July 2017 A R16.4-million pedestrian bridge construction project, in Diepsloot, will be completed in July 2018. The Johannesburg Roads Agency (JRA) is building the bridge to safeguard residents crossing the Jukskei river during flooding. 

JRA to erect R16.4m pedestrian bridge in Diepsloot
City of Johannesburg Mayor Herman Mashaba

Reserve Bank independence must be protected, says banking association

By: African News Agency      7th July 2017 The Banking Association South Africa (Basa) said on Friday that it had noted statements made during the  African National Congress (ANC) National Policy Conference about the South African Reserve Bank (SARB). This comes after the chairperson of the ANC’s economic transformation commission, Enoch... 

Reserve Bank independence must be protected, says banking association

AfDB approves $15m equity investment to support inclusive growth

By: Mia Breytenbach     7th July 2017 The African Development Bank (AfDB) has approved a $15-million investment in multinational private equity fund Shore Capital Fund III (ShoreCap III), which promotes financial inclusion by supporting financial institutions serving Africa’s low-income and emerging middle-class communities. The... 

AfDB approves $15m equity investment to support  inclusive growth
Photo by Bloomberg
FUND OBJECTIVE The Shore Capital Fund III will focus exclusively on sub-Saharan Africa and will provide growth capital and capacity building for inclusive financial institutions

Afrimat Construction Index continues to outperform general economy

By: Mia Breytenbach     7th July 2017 Despite negative perceptions, South Africa’s economy remains resilient, while the construction industry remains healthy and continues to perform well, says JSE-listed openpit mining company and industrial mineral and construction material supplier Afrimat CEO Andries van Heerden. This is evident... 

Afrimat Construction Index continues to outperform general economy
RESILIENT INDUSTRY According to the Afrimat Construction Index, the construction sector at large remains on a stronger footing than what it was in 2010

Commissioning activities under way at pipeline

By: Simone Liedtke     7th July 2017 Packaging company Nampak Glass in May commissioned a 1-km-long, high-pressure underground gas pipeline that was constructed by multidisciplinary corporation Saiyl. 

Commissioning activities under way at pipeline
NAMPAK STATION This underground pipeline ties into the newly constructed Nampak Pressure Reduction Station in Germiston

Control system minimises dust escape during grab discharge

By: Simone Liedtke     7th July 2017 Materials handling equipment supplier BLT South Africa’s Samson travelling Eco-Hoppers have an effective dust control system that minimises the escape of dust during the grab discharge cycle. 

Control system minimises dust escape during grab discharge
DUST CONTROL The grab discharge cycle includes transferring materials down the line using handling systems

Filter standard replacement to occur over 18-month transition period

     7th July 2017 The new test standard for International Organization for Standardization (ISO) 16890, for filter testing and assessment, replaced European Standard (EN) 779 as of January this year, with a transition period of 18 months. 

Filter standard replacement to occur over 18-month transition period
SHIFTING PARADIGM This new method for the evaluation of air filter elements represents a paradigm shift

Need for accurate designs of dosing systems 

By: Simone Liedtke     7th July 2017 The designs for dosing systems in the gas and fumes industries have to be accurate to ensure safety, says chemical dosing and pumping applications supplier Packaged Metering and Pumping Solutions (PMPS) technical director David O’Neill. 

Need for accurate designs of dosing systems
Packaged Metering and Pumping Solutions’ David O’Neill talks about the company’s strategies with regards to the fracking process. Camerawork and Editing: Nicholas Boyd.

New-generation Sentient hand-held unit for gas detection

     7th July 2017 The new generation Ingress Protection 68 rated Sentient handheld unit is widely regarded as the most cost effective, sophisticated and low maintenance gas detection device in the mining industry today. 

New-generation Sentient hand-held unit for  gas detection
GAS DETECTION SYSTEMS This instrument was developed by Booyco Electronics, specifically to improve safety in any confined spaces
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