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Macro and Micro News

Private equity investment more than doubles in Southern Africa – Savca

By: Anine Kilian     26th July 2018 The Southern African private equity industry invested R31.3-billion in 2017, which represents an increase of 102% on the R15.5-billion invested in the previous year and well above the yearly average of R14.7-billion a year invested over the preceding ten years. Further, South Africa’s private... 

Workers win against labour brokers  

By: Creamer Media Reporter      26th July 2018 The National Union of Metalworkers of South Africa (Numsa) on Thursday welcomed the Constitutional Court judgment which strengthened the rights of temporary workers. The amendment to Section 198A(3)(b) of the Labour Relations Act (LRA) was under scrutiny in this case relating to whether this... 

Workers win against labour brokers

Xi Jinping, Ramaphosa say Brics should uphold multilateralism, reject trade war

By: Terence Creamer     25th July 2018 The Presidents of China and South Africa, Xi Jinping and Cyril Ramaphosa, offered an unequivocal rebuke of US President Donald Trump’s trade war on Wednesday and called on the Brics countries of Brazil, Russia, India, China and South Africa to act to uphold multilateralism and defend the... 

Xi Jinping, Ramaphosa say Brics should uphold multilateralism, reject trade war
Chinese President Xi Jinping and President Cyril Ramaphosa

Development agenda key to achieving African vision

By: Simone Liedtke     25th July 2018 Africa’s biggest challenge, according to Pan African Chamber of Commerce (PACC) CEO Johnny Muteba, is the continent’s lack of an agenda that is solely focussed on its development. Instead of focusing on sustainable development agendas, such as the 2063 Agenda, he suggested during a pre-Africa... 

Enabling environment needed for private sector to contribute to Africa’s development

By: Simone Liedtke     25th July 2018 To attract the financing needed to meet Africa’s investment needs, the public sector must create an enabling environment for the private sector to play its role, African Development Bank (AfDB) Southern African deputy director general Josephine Ngure says. Speaking at a pre-African Investment... 

Nene announces independent inquiry into PIC's affairs

By: African News Agency      25th July 2018 Finance Minister Nhlanhla Nene met with the board of the Public Investment Corporation (PIC) on Wednesday and informed them of an independent inquiry into the affairs of the institution which manages pension funds on behalf of South African government employees, a statement from Treasury said.... 

Nene announces independent inquiry into PIC's affairs
Photo by Creamer Media
Finance Minister Nhlanhla Nene

South Africa 'collateral damage' in US-led global trading war – Davies

By: African News Agency      25th July 2018 South Africa has become "collateral damage" in the trading war involving mainly the United States, China, Canada and the European Union, with tariffs imports on its steel exports, Trade and Industry Minister Dr Rob Davies said on Wednesday. Global tensions have flared up as other countries hit... 

South Africa 'collateral damage' in US-led global trading war – Davies

HSRC to investigate role of services in boosting growth within Southern Africa

By: Creamer Media Reporter      25th July 2018 The Human Sciences Research Council (HSRC) has been awarded a grant by the United Nations University (UNU) to investigate the catalytic role of tradable services in Southern Africa’s growth and development. The study will be led by Professor Ivan Turok and Dr Justin Visagie, and will look at how... 

Baseline study aims to start debate on the state of SMEs in South Africa 

By: Simone Liedtke     24th July 2018 The Small Business Institute (SBI) on Tuesday warned that the National Development Plan’s (NDP's) goal of having small businesses create 90% of jobs by 2030 may be unachievable unless small and medium-sized businesses (SMEs) are better understood. Early research shows that, while 98.5% of... 

IIoT-enabled businesses expected to boost revenues by 10% by 2023

By: Schalk Burger     24th July 2018 Companies across the global supply chain expect the Industrial Internet of Things (IIoT) to increase their yearly revenues by 10% within five years, a global study by mobile satellite communications company Inmarsat, released on Tuesday, showed. IIoT is the application of networked sensors, which... 

Standard Bank, UnionPay partnership eases Chinese card payments

By: Schalk Burger     24th July 2018 Chinese card payment services provider UnionPay International and financial services firm Standard Bank have agreed to accelerate access to UnionPay’s cards across key markets in Africa, the companies said in a statement on Monday. The move will bring increased convenience to Chinese people... 

Gautrain employees to embark on a strike from July 30

By: Simone Liedtke     24th July 2018 Gautrain employees who are members of the United National Transport Union (UNTU) will embark on a protected strike from July 30. The majority of UNTU members working for the Gautrain voted in favour of a strike at an UNTU mass meeting held in Midrand, on Monday. 

Gautrain employees to embark on a strike from July 30

LEIP MoU signed, 101 669 potential jobs created

By: Simone Liedtke     23rd July 2018 Up to 101 669 jobs could be created during the first five years of construction of the Limpopo Eco-Industrial Park (LEIP), which Eco-Industrial Solutions (EIS) CEO Deshika Kathawaroo on Monday said would “fundamentally change” the Limpopo province’s contribution to South Africa’s strategic... 

LEIP MoU signed, 101 669 potential jobs created
Photo by Simone Liedtke
(Left) Limpopo Economic Development Agency group CEO Ben Mphahlele and (right) Eco-Industrial Solutions CEO Deshika Kathawaroo (right) at the signing ceremony on Monday

Brics nations must do away with restrictive barriers to trade

By: African News Agency      23rd July 2018 The Brics nations should look at innovative ways to remove barriers to trade, including decreasing barriers to new technology growth, while also considering a Brics visa card. This is according to Elena Myakotnikova of the Agency for Strategic Initiatives, who delivered a presentation on a "road... 

Brics nations must do away with restrictive barriers to trade

We're doing all we can to end long wait in Home Affairs queues – Gigaba 

By: News24Wire      23rd July 2018 Home Affairs Minister Malusi Gigaba says his department is doing all it can to end the long wait in queues at their various branches across the country. Gigaba was speaking at a media briefing in Pretoria about progress made in the department's "War on Queues" campaign, which he launched in April... 

We're doing all we can to end long wait in Home Affairs queues – Gigaba
Photo by Bloomberg
Home Affairs Minister Malusi Gigaba

SA population rises above 57m

By: African News Agency      23rd July 2018 South Africa's population has risen to 57.73-million according to the 2018 mid-year population estimates released by Statistics South Africa (StatsSA) on Monday. "We are talking about mid-year population estimates which use the latest fertility, mortality and migration data to estimate the size... 

 SA population rises above 57m

Brics countries to further engage on establishing own credit rating agency 

By: African News Agency      23rd July 2018 Brics countries announced on Monday that they have moved one step closer to establishing a new credit rating company in an effort to break the dominance of the big three developed-nation firms, but said that further consultation was still needed. Geoffrey Qhena, chair of the Brics financial... 

 Brics countries to further engage on establishing own credit rating agency

Gigaba confirms resignation of Home Affairs DG Mkuseli Apleni

By: News24Wire      23rd July 2018 Minister of Home Affairs Malusi Gigaba confirmed on Monday that the department's director general Mkuseli Apleni has resigned. "I would like to announce officially that the director-general of the Department of Home Affairs, Mr Mkuseli Apleni, has tendered his resignation, effective end of July... 

Gigaba confirms resignation of Home Affairs DG Mkuseli Apleni
Photo by Reuters
Home Affairs Minister Malusi Gigaba

New Development Bank to extend loans to Brics countries' private sector

By: African News Agency      23rd July 2018 The New Development Bank announced on Monday that it would begin to extend loans to the private sector in Brics countries as it enters another phase of its growth prospects. The New Development Bank was established in 2014 following the sixth Brics Summit, with capitalisation from Brazil, Russia,... 

New Development Bank to extend loans to Brics countries' private sector

AfDB approves $250m risk participation agreement with ABSA

By: Creamer Media Reporter      20th July 2018 The African Development Bank (AfDB), this week, approved an unfunded $250-million risk participation agreement (RPA) with ABSA Bank. This RPA, housed within the AfDB’s Trade Finance operations, will enhance African issuing banks’ ability to leverage trade financing through a multisectorial approach. 

ANC not fulfilling people's expectations – Ramaphosa

By: Sashnee Moodley     20th July 2018 African National Congress (ANC) President Cyril Ramaphosa called for self-correction in the party following what he said was a "dramatic decline in support" during the 2016 local government elections. Giving the opening address at the party’s thirteenth Gauteng provincial conference, in Pretoria,... 

ANC not fulfilling people's expectations – Ramaphosa
President Cyril Ramaphosa

Public works to recover R1.2bn lost through lease irregularities and corruption

By: News24Wire      20th July 2018 While the Department of Public Works turns to the court for the recovery of around R1.2-billion lost to collusion, corruption and irregularities in leases, Minister of Public Works Thulas Nxesi is singing President Cyril Ramaphosa's praises. "We now have a leader, in President Cyril Ramaphosa,... 

Trade war could knock 3% off global GDP – Bank of France study

By: Reuters     20th July 2018 An international trade war with wide-ranging tariff hikes could cut global gross domestic product by as much as three percent, according to a study by the French central bank on Thursday. The direct impact of a generalised 10 percentage point increase in import tariffs could alone knock 1% off... 

SA’s ambitious Youth Employment Service starts taking shape 

By: Marleny Arnoldi     20th July 2018 The Youth Employment Service (YES) aims to create one-million jobs within three years to help alleviate the situation of six-million unemployed youths in South Africa, 60% of whom reside in townships and rural areas. YES was established by the CEO Initiative, which is a partnership created... 

SA’s ambitious Youth Employment Service starts taking shape
YES CEO Tasmia Ismail-Saville discusses the first hub opening and company involvement towards the initiative. Camerawork and Editing: Nicholas Boyd.

Nxesi wants lifestyle audit done in all management at public works including himself to fight corruption 

By: African News Agency      19th July 2018 Public Works Minister Thulas Nxesi on Thursday announced that he requested a lifestyle audit starting with himself and all management of the department after internal investigations revealed 16 000 suspicious transactions to the value of R2-billion. Nxesi was speaking in Pretoria on Thursday... 

 Nxesi wants lifestyle audit done in all management at public works including himself to fight corruption
Photo by Creamer Media
Public Works Minister

SARB keeps repo rate unchanged, downgrades growth projection

By: News24Wire      19th July 2018 The South African Reserve Bank's (SARB's) monetary policy committee has left the repo rate unchanged at 6.5% in a unanimous decision.  The announcement, made by the central bank's governor Lesetja Kganyago at a media briefing in Pretoria on Thursday afternoon, was in line with expectations of... 

SARB keeps repo rate unchanged, downgrades growth projection
Photo by Reuters
Reserve Bank governor Lesetja Kganyago

South Africa seeks to strike trade balance at Brics Summit

By: African News Agency      19th July 2018 South African government will be working to tackle the trade imbalance and also address complimentary trade between it and its Brics partners at the crucial upcoming Summit next week, officials said on Thursday.  Lerato Mataboge, deputy director-general at the Department of Trade and Industry... 

Mandela centenary commemorated with banknotes and R5 coin 

19th July 2018 To commemorate late Statesman Nelson Mandela’s centenary, the South African Reserve Bank has launched commemorative banknotes and a R5 coin into circulation, depicting the most significant occasions in Mandela’s life. Marleny Arnoldi attended the launch. 

Mandela centenary commemorated with banknotes and R5 coin
Mandela centenary commemorated with banknotes and R5 coin

SA post office strike over

By: African News Agency      19th July 2018 The South African Post Office strike has been brought to a halt after trade unions reached an agreement regarding salary increase on Wednesday. The strike started on July 3. 

 SA post office strike over

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

By: African News Agency      18th July 2018 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      18th July 2018 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     18th July 2018 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

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