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Macro and Micro News

SA out of recession with 2.2% GDP growth 

By: News24Wire      4th December 2018 The South African economy has officially exited the recession after reporting 2.2% Gross Domestic Product (GDP) growth for the third quarter of the year, Statistics South Africa announced on Tuesday morning at a briefing in Pretoria.  South Africa slipped into a technical recession during the... 

Eskom implements Stage 2 load shedding

By: African News Agency      4th December 2018 Eskom on Tuesday said it was implementing load shedding across South Africa as it seeks to manage an electricity shortfall. "As a result of a shortage of capacity due to a number of generating units still out of service due to breakdowns, Eskom will be implementing Stage 2 rotational load... 

Eskom implements Stage 2 load shedding

AfDB, fund provide $200m in joint financing to support Nigeria electrification project

By: Simone Liedtke     3rd December 2018 The African Development Bank’s (AfDB’s) board of directors has approved a $150-million sovereign loan to the Nigerian government to finance the Nigeria Electrification Project (NEP). The financing will support rural electrification efforts in Nigeria by facilitating private sector development and... 

African renewables IPP to list on Mauritian Stock Exchange

By: Simone Liedtke     3rd December 2018 Independent power producer (IPP) Africa Clean Energy Solutions (Aces) will list on the Mauritian Stock Exchange on December 14. The company will issue up to 600 000 new shares prior to the initial listing date. 

Absa PMI rises for first time in three months 

By: Marleny Arnoldi     3rd December 2018 The seasonally adjusted Absa Purchasing Managers’ Index (PMI) rose to 49.5 index points in November from 42.4 in October – the first increase after three consecutive decreases. The improvement was mainly owing to four of the five main subcomponents rising.  

Eskom starts stage 2 load shedding

By: News24Wire      3rd December 2018 Eskom on Monday morning commenced with stage 2 load shedding, saying the rotational power cuts would likely continue until 22:00. This after it had on Sunday warned of a full day of load shedding on Monday, saying a number of power generating units were still out of service. 

Eskom starts stage 2 load shedding

Charts show South Africa's recession may be over

By: Bloomberg     3rd December 2018 South Africa is likely to emerge from its first recession in almost a decade as monthly indicators for the third quarter signal a modest rebound. Recoveries in manufacturing and trade are expected to drive growth momentum in Africa’s most industrialised economy. Statistics South Africa will on... 

Mboweni prioritizes regaining South Africa investment grade

By: Bloomberg     3rd December 2018 South Africa’s government is prioritizing regaining an investment grade rating on its debt as part of its plans to revive a stagnant economy, Finance Minister Tito Mboweni said. Moody’s Investors Service is the only one of the three major credit-rating companies that still assesses South Africa’s... 

Mboweni prioritizes regaining South Africa investment grade
Finance Minister Tito Mboweni

Rand firms as US-China trade truce revives risk appetite

By: Reuters     3rd December 2018 South Africa's rand firmed against the dollar in early trade on Monday as investor demand for riskier assets rose after China and the US agreed to a ceasefire in their trade war that has shaken global markets. At 0605 GMT, the rand traded at 13.7600 per dollar, 0.65% firmer than its New York... 

Rand firms as US-China trade truce revives risk appetite

Trade deficit widens to R5.55bn in October

By: Reuters     30th November 2018 South Africa's trade deficit widened to R5.55-billion in October from a revised R3.83-billion deficit in September, official data showed on Friday. Exports rose by 8.5% on a month-on-month basis to R122.32-billion in October, while imports edged 9.7% higher to R127.87-billion, the South African... 

Cape Town households shoulder a bigger share of water restrictions so economy and business can recover

By: News24Wire      30th November 2018 Cape Town households will shoulder a bigger share of the new water restrictions to make more water available for the region’s economic drivers of agriculture, industry and tourism. This reflects a major shift in the way the region’s water is allocated, with agriculture getting a bigger share than... 

Ramaphosa to officiate at Atlantis SEZ opening on December 6

By: Marleny Arnoldi     30th November 2018 President Cyril Ramaphosa will on December 6 officiate the opening of the Atlantis special economic zone (SEZ), in the Western Cape. The launch of the 124.5 ha zone is designated for the establishment of a green technologies hub for the province.  

Regulatory, payment efficiencies needed to support SME jobs

By: Schalk Burger     30th 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 are some of the biggest concerns for small businesses. Small Business Institute chairperson Bernard Swanepoel highlights  the... 

Interim results confirm the bad state of Eskom’s financial health 

29th November 2018 Creamer Media's Chanel de Bruyn speaks to Engineering News Editor Terence Creamer about Eskom’s interim financial results and the utility’s plans to turn its financial position around. 

Interim results confirm the bad state of Eskom’s financial health
Interim results confirm the bad state of Eskom’s financial health

Rand likely to remain volatile, says deputy SARB governor 

By: News24Wire      29th November 2018 Exchange rate forecasts for the rand remain widely dispersed, deputy governor of the SA Reserve Bank (SARB) Daniel Mminele said on Wednesday. It is likely that the rand, along with other emerging market (EM) currencies, will remain volatile, he said at the Bloomberg FX'18 event in Johannesburg. 

 Rand likely to remain volatile, says deputy SARB governor
Photo by Bloomberg
SARB deputy governor Daniel Mminele

'Debt-driven' Eskom not ruling out load shedding for remainder of year

By: News24Wire      28th November 2018 Weak financial ratios, reduced generation performance and low coal stock levels have again raised the spectre of load shedding for power utility Eskom. Announcing the interim financial results for the six months ended September 30, CEO Phakamani Hadebe warned that although liquidity had improved,... 

 'Debt-driven' Eskom not ruling out load shedding for remainder of year

AA predicts massive drop in petrol price in December 

By: News24Wire      28th November 2018 Motorists can expect a R1.85 reduction per litre in the price of petrol, with diesel coming down by an estimated R1.40, and illuminating paraffin dropping by R1.28, the Automobile Association (AA) predicted on Wednesday. The association was commenting on unaudited month-end fuel price data... 

 AA predicts massive drop in petrol price in December

Department of Energy to review how it costs basic fuel price 

By: News24Wire      28th November 2018 The department of energy has invited public comments on how it calculates the underlying prices of fuel, diesel and illuminating paraffin, known as the Basic Fuel Price (BFP). This is the price of fuel before taxes, transport, and other costs are added.  

 Department of Energy to review how it costs basic fuel price

Nema to ensure mines are held accountable, adhere to legal duties – law firm

By: Simone Liedtke     27th November 2018 The gazetting of the overhauled National Environment Management Act (Nema) will ensure more mines are held accountable and meet their obligations in terms of financial provisioning for environmental rehabilitation, says law firm Webber Wentzel environment and natural resources partner Garyn... 

Nema to ensure mines are held accountable, adhere to legal duties – law firm
Webber Wentzel environment and natural resources partner Garyn Rapson

Ramaphosa grants Sars inquiry two-week extension for final report

By: News24Wire      27th November 2018 President Cyril Ramaphosa has granted the Nugent Commission of Inquiry a two-week extension to file its final report on the state of tax administration and governance at the South African Revenue Service (Sars).  The commission, which was established in May and is chaired by retired judge Robert... 

 Ramaphosa grants Sars inquiry two-week extension for final report

SA still top FDI destination in Africa, but 2017 shows a decline – Brand SA

By: African News Agency      27th November 2018 A recent Ernst & Young (EY) survey shows South Africa has retained its position as the top foreign direct investment  destination in Africa, but Morocco has caught up with it, the country's promotion agency said on Tuesday. The 2018 EY Africa Attractiveness Survey report shows that during 2017,... 

SA still top FDI destination in Africa, but 2017 shows a decline – Brand SA

Treasury loses out on more than R1bn in VAT from drought-stricken farmers

By: News24Wire      27th November 2018 The government has lost out on more than R1-billion in VAT from drought-stricken farmers who were forced to cut production after their irrigation water from the Cape supply dams was radically reduced a year ago. Agri Western Cape CEO Carl Opperman said on Monday this was one of the facts he... 

Treasury loses out on more than R1bn in VAT from drought-stricken farmers

Business confidence falls for third straight quarter – survey

By: Reuters     27th November 2018 South African business confidence fell for the third straight quarter, a survey showed on Tuesday, as country struggles to grow in a recession-bound economy. The Rand Merchant Bank (RMB) business confidence index compiled by the Bureau for Economic Research fell to 31 points in the fourth quarter... 

African fishing communities face 'extinction' as blue economy grows – experts

By: Reuters     27th November 2018 Fishing communities along Africa's coastline are at a greater risk of extinction as countries eye oceans for tourism, industrial fishing and exploration revenue to jumpstart their "blue economies," UN experts and activists said on Monday. The continent's 38 coastal and island states have in... 

100 MW Kathu CSP to enter commercial operation in early 2019 

By: Creamer Media Reporter      26th November 2018 The 100 MW Kathu Solar Park concentrated solar power (CSP) plant, in the Northern Cape, has been synchronised to the national grid and the power station is expected to enter into full commercial operation in early 2019. Construction of the parabolic-trough CSP plant began in May 2016, following... 

100 MW Kathu CSP to enter commercial operation in early 2019
The 100 MW Kathu Solar Park

National Minimum Wage a ‘positive step’ towards stable labour relations in South Africa – Busa 

By: Simone Liedtke     26th November 2018 Business Unity South Africa (Busa) says the signing into law of the National Minimum Wage (NMW) Bill is a “positive step” towards stabilising South Africa’s labour relations environment and signals the country’s commitment to social reform. This is against the backdrop of South Africa’s labour... 

National Minimum Wage a ‘positive step’ towards stable labour relations in South Africa – Busa
Photo by Dylan Slater
Busa CEO Tanya Cohen

Ramaphosa signs minimum wage bill into law 

By: Reuters     26th November 2018 President Cyril Ramaphosa has signed into law the national minimum wage bill, his office said on Monday, part of efforts by the government to tackle wage inequality in Africa's most industrialised economy. The National Minimum Wage Act sets South Africa's minimum wage at R20 an hour, equal to R3... 

Ramaphosa signs minimum wage bill into law
President Cyril Ramaphosa

Following Mandela’s management style will aid in land reform – Ramaphosa 

By: News24Wire      26th November 2018 President Cyril Ramaphosa invoked the management style of Nelson Mandela on Sunday evening when speaking of how the State would manage land reform, saying the matter needed to be addressed for SA to move forward. Ramaphosa was a guest at the Gauteng Conference of the South African Jewish Board of... 

 Following Mandela’s management style will aid in land reform – Ramaphosa
President Cyril Ramaphosa

BRI a conduit for Chinese engagement, trade, development with Africa and the world 

By: Schalk Burger     23rd November 2018 The Belt and Road Initiative (BRI), which is an infrastructure development and integration initiative championed and mainly funded by China, has emerged as a conduit for translating China's growing influence into trade, development and cultural engagements and partnership with the global South.... 

MPs pledge to work with new Home Affairs minister to solve department's problems

By: African News Agency      23rd November 2018 New Home Affairs Minister Siyabonga Cwele has some tough challenges ahead of him, Parliament's oversight committee said on Friday. In a statement, the home affairs portfolio committee welcomed Cwele's appointment and said MPs were eager to work with him to solve the problems bedevilling the home... 

MPs pledge to work with new Home Affairs minister to solve department's problems
Home Affairs Minister Siyabonga Cwele

Zuma's Nene sacking cost SA 148 000 jobs, 1% of GDP 

By: News24Wire      23rd November 2018 Treasury Director-general Dondo Mogajane has told the judicial commission of inquiry into allegations of State capture that when Nhlanhla Nene was removed in 2015 there was a reduction of about R378-billion in market capitalisation on the JSE.   "Business confidence was at its lowest following... 

Zuma's Nene sacking cost SA 148 000 jobs, 1% of GDP
Former Finance Minister Nhlanhla Nene

Renergen says higher fuel prices strengthen its business case

By: Simone Liedtke     23rd November 2018 Higher fuel prices have helped to strengthen the business case for using natural gas as a cheaper alternative to more expensive liquid fuels, JSE- and ASX-listed Renergen said on Friday. Reporting on its results for the six months ended August 31, it added that pressure on corporate... 

Africa missing out on boom in Chinese tourism

By: Reuters     23rd November 2018 African countries are missing out on a boom in Asian tourism, mainly from China, and must ease visa and entry requirements to tap into a historic shift generating billions of dollars in revenue, government officials and industry leaders said. Over 97-million Chinese travelled abroad last year,... 

Africa missing out on boom in Chinese tourism

Repo rate hike will be hard-felt by consumers – financial service firm

By: African News Agency      23rd November 2018 The decision by the South African Reserve Bank to raise the repo rate will be hard-felt by consumers, most of whom are already struggling to make ends meet, a financial service provider said on Friday. South Africa's central bank on Thursday raised the benchmark repo rate by 25 basis points from... 

Repo rate hike will be hard-felt by consumers – financial service firm

Firm’s design breathes new life into industry

By: Simone Liedtke     23rd November 2018 Multidisciplinary consulting engineering firm Arup was commended for its finalist entry of the V&A Grain Silo Complex façade in the architectural category at the 2018 South African Steel Awards, held last month. The R500-million V&A Grain Silo project, once an agricultural silo for grain storage... 

Firm’s design breathes  new life into industry
CROWN JEWEL The V&A Grain Silo Complex project was once an agricultural silo for grain storage, and is now features prominently in the silo district development

Early days for stainless steel in cladding, construction industry

By: Simone Liedtke     23rd November 2018 The South African stainless steel in construction and cladding market is in an early developmental stage, despite many architectural projects having been completed over the past few decades, says South African Stainless Steel Development Association (Sassda) Western Cape regional manager Michel... 

Early days for stainless steel in cladding, construction industry
INTO FOCUS Stainless steel in cladding construction brings the advantages into focus

Trade wars costly to long-term construction projects

By: Simone Liedtke     23rd November 2018 Owing to the global trade war in steel prices, local manufacturers, such as local steel fabricator Fabcon, are finding it difficult to quote for long-term construction projects. “The stockholding of any steel company is dramatically reduced, as companies are unwilling to hold stock for a longer... 

Trade wars costly  to long-term construction projects
ANDREW VAN GOOL Companies are unwilling to hold stock for a longer period of time

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