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Macro and Micro News

Irregular spend of national, provincial government, SOEs up to R51bn and counting

By: African News Agency      21st November 2018 Irregular expenditure for national and provincial government departments, as well as State-owned entities audited by the Auditor-General amounted to R51-billion and counting, it was revealed on Wednesday. Releasing the audit results for the 2017/18 financial year, Auditor-General Kimi Makwetu... 

SA annual consumer inflation rises to 5.1 percent in October

By: African News Agency      21st November 2018 Consumer price inflation rose to 5.1 percent year-on-year in October 2018 from 4.9 percent in September, Statistics South Africa said on Wednesday. On a month-on-month basis, the consumer price index increased by 0.5 percent in October. 

SA annual consumer inflation rises to 5.1 percent in October

No land grabs in SA, your investments are safe – Ramaphosa tells German counterpart

By: News24Wire      20th November 2018 President Cyril Ramaphosa said at a media briefing on Tuesday morning in Cape Town with German President Frank-Walter Steinmeier that there will be no land grabs in South Africa and that foreign investments in the country are safe. “Investors should have no fear that their land or investment will... 

No land grabs in SA, your investments are safe – Ramaphosa tells German counterpart
President Cyril Ramaphosa

New stage 8 load shedding 'nothing to panic about', says Eskom 

By: News24Wire      20th November 2018 Power utility Eskom recently announced that it would be expanding its load shedding plan to eight stages, allowing for up to 8 000 MW to be shed from the national grid. It previously had four stages that allowed for up 4 000 MW to be cut.   The new schedule is "nothing to panic about", Eskom... 

 New stage 8 load shedding 'nothing to panic about', says Eskom

Ramaphosa is said to mull economy super Ministry

By: Bloomberg     20th November 2018 President Cyril Ramaphosa may create a super ministry for economic policy as part of an overhaul of the nation’s executive, according to three people familiar with the matter. The new ministry will combine various economic departments, including the National Treasury, to simplify policy... 

I am not accountable to bullies – Gordhan  

By: African News Agency      20th November 2018 Public Enterprises Minister Pravin Gordhan on Tuesday took a swipe at his detractors, telling the State capture commission of inquiry that he does not submit to bullies. The minister is testifying for a second day at the commission of inquiry into State capture, led by deputy chief justice... 

I am not accountable to bullies – Gordhan
Photo by Bloomberg
Public Enterprises Minister Pravin Gordhan

Hawks investigating 311 cases involving municipalities

By: News24Wire      20th November 2018 The Hawks are investigating 311 cases involving municipalities across the country, the Department of Cooperative Governance and Traditional Affairs (Cogta) says. Cogta spokesperson Musa Zondi said 98 of the cases were in court, 178 were under investigation, and 35 were either finalised or... 

Hawks investigating 311 cases involving municipalities

IMF says optimism in South Africa's economic recovery fading

By: Reuters     20th November 2018 South Africa's economic recovery plans face serious constraints with growing debt of state firms domestically and capital outflows as a result of global trade tensions, the International Monetary Fund (IMF) said on Monday. In October the global lender said it saw Africa's most industrialised... 

IMF says optimism in South Africa's economic recovery fading

Optimism in South Africa's economic recovery fading – IMF

By: Reuters     19th November 2018 South Africa's economic recovery plans face serious constraints with growing debt of state firms domestically and capital outflows as a result of global trade tensions, the International Monetary Fund (IMF) said on Monday. "Some of the initial optimism has dissipated as growth remains stuck in... 

State capture was evident as early as 2014 – Gordhan 

By: African News Agency      19th November 2018 The State capture phenomenon had been around as early as 2014 in South Africa during former president Jacob Zuma's administration, Public Enterprises Minister Pravin Gordhan told the State capture commission of inquiry on Monday. He said individual corrupt activities, through procuring goods and... 

State capture was evident as early as 2014 – Gordhan
Photo by Creamer Media
Public Enterprises Minister Pravin Gordhan

Eskom says it is not load shedding

By: African News Agency      19th November 2018 Eskom on Monday said it was not implementing load shedding but the power grid was stretched with a low possibility of load shedding for the rest of week. "We will keep our customers informed if there are any changes to the system. Eskom would like to thank its customers for assisting in keeping... 

Eskom says it is not load shedding

Patel: I declined several invites from the Guptas 

By: News24Wire      19th November 2018 Economic Development Minister Ebrahim Patel has said he declined several invitations from the Gupta family, including one to the now-infamous wedding at Sun City in 2013. In a written reply to a question from Democratic Alliance (DA) MP Michael Bagraim, Patel clarified that neither he nor... 

 Patel: I declined several invites from the Guptas
Photo by Creamer Media
Economic Development Minister Ebrahim Patel

Steinhoff appoints Louis du Preez as new permanent CEO, shares soar

By: Reuters     19th November 2018 Steinhoff’s CEO Danie van der Merwe has decided to step down from this position at the end of December, the global retailer said in an update to shareholders on Monday.  He will be replaced by Louis du Preez, the group’s current commercial director. 

Steinhoff appoints Louis du Preez as new permanent CEO, shares soar

Astral commits to R1.1bn in expansion projects 

By: Simone Liedtke     19th November 2018 On the back of President Cyril Ramaphosa’s recent investment drive and stimulus plan, integrated poultry producer Astral Foods has committed R1.1-billion to expansion projects over the next three years. This is the JSE-listed company’s first major expansion in its poultry division in a decade and... 

Astral commits to R1.1bn in expansion projects

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... 

Treasury announces progress on national health insurance bill

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... 

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