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Macro and Micro News

Putin to take part in Brics summit in South Africa – Kremlin

By: Reuters     13th July 2018 Russian President Vladimir Putin plans to visit South Africa for a summit of BRICS countries on July 26 and 27, Kremlin foreign policy aide Yuri Ushakov said on Friday. The BRICS group of emerging economies comprises Brazil, Russia, India, China and South Africa. 

Property sector must do more on transformation – PSCC

By: Schalk Burger     12th July 2018 The South African property sector is making reasonable efforts towards transformation, but it needs to pick up the pace, says the Property Sector Charter Council (PSCC). The PSCC this week released the results of its ‘2016-2017 State of Transformation Report’, which sampled institutional... 

South African M&A activity declines in H1

By: Marleny Arnoldi     12th July 2018 Merger and acquisition (M&A) transactions in South Africa declined in terms of both volume and value of domestic and cross-border deals, according to analysis by law firm Baker McKenzie.  

Saudi Arabia pledges to invest R133bn in South African energy sector

By: News24Wire      12th July 2018 President Cyril Ramaphosa’s ambitious plan to attract $100-billion to kick start the country’s struggling economy got a major boost on Thursday, when Saudi Arabia committed to invest $10-billion (about R133-billion) in the country. This is expected to be invested in the energy and power creation... 

Saudi Arabia pledges to invest R133bn in South African energy sector
President Cyril Ramaphosa and Saudi Arabian Minister of African Affairs Mahomed bin Adullah Al-Kattan

Nigeria's President Buhari says will soon sign up to African free-trade agreement

By: Reuters     12th July 2018 Nigeria's President Muhammadu Buhari said on Wednesday the country will sign up soon to a $3-trillion African free-trade agreement. Nigeria is one of Africa's two largest economies, the other being South Africa. Buhari's government had refused to join a continental free-trade zone established in... 

Nigeria's President Buhari says will soon sign up to African free-trade agreement
Photo by Reuters
Nigerian President Muhammadu Buhari

Rand Refinery, South African Mint introduce 1 oz silver Krugerrand

By: Creamer Media Reporter      11th July 2018 Prestige Bullion, a joint venture between Rand Refinery and the South African Mint, will, from August 1, sell 1 oz silver bullion Krugerrands. The silver Krugerrand will be produced in unlimited mintage, dependent on market appetite and linked to the daily price of silver. 

Rand Refinery, South African Mint introduce 1 oz silver Krugerrand
The 1 oz silver Krugerrand

Eskom wage talks: Unions want meeting with Nene, Gordhan

By: News24Wire      11th July 2018 Having reached a “sensitive stage” in the wage negotiation process, unions representing Eskom workers have asked to meet with Finance Minister Nhlanhla Nene and Public Enterprises Minister Pravin Gordhan to resolve the matter. This is according to a statement issued by the National Union of... 

Eskom wage talks: Unions want meeting with Nene, Gordhan
Photo by Reuters
Finance Minister Nhlanhla Nene

SADC Committee of Ministers of Finance meets in South Africa

By: African News Agency      11th July 2018 The Southern African Development Community (SADC) Committee of Ministers of Finance and Investment will meet today in Johannesburg to discuss areas of cooperation and improving regional financial coordination.  The Ministers will be joined by the central bank governors from the region.  

Voluntary PET recycling volumes to grow to 70% within four years

By: Simone Liedtke     10th July 2018 Polyethylene terephthalate (PET) recycling company Petco expects voluntary PET recycling volumes in South Africa to grow to 70% within the next three to four years, Petco chairperson Dr Casper Durandt said on Tuesday. South African bottlers, who are voluntary members of Petco, are increasingly... 

Voluntary PET recycling volumes to grow to 70% within four years
Photo by Dylan Slater
(Left to Right) Petco CEO Cheri Scholtz, CSIR principal researcher Dr Suzan Oelofse, Petco chairperson Dr Casper Durandt

Eskom and IPP deal to create more than 60 000 jobs

By: African News Agency      10th July 2018 More than 60 000 jobs are expected to be created during the 27 new renewable energy plant projects being rolled out under the independent power producers (IPP) programme, valued at some R56-billion. According to a statement issued on behalf of Workforce Staffing, a temporary employment service... 

Eskom and IPP deal to create more than 60 000 jobs

Index points to cautious business confidence 

By: Simone Liedtke     10th July 2018 The South African Chamber of Commerce and Industry’s (Sacci’s) Business Confidence Index (BCI) declined to 93.7 index points in June, compared with 94 index points in May. The BCI for June was also lower than the 94.9 index points registered in June 2017. 

Index points to cautious business confidence 

US to initiate ‘exploratory talks’ on post-Agoa model at Washington forum

By: Terence Creamer     9th July 2018 United States Trade Representative (USTR) Robert Lighthizer will use this week’s African Growth and Opportunities Act (Agoa) Forum in Washington DC to initiate “exploratory talks” with African governments on a possible trade model that could be implemented when the unilateral programme expires in... 

US to initiate ‘exploratory talks’ on post-Agoa model at Washington forum
Photo by Bloomberg
US Trade Representative Robert Lighthizer

You can’t have your cake and eat it, Sanral’s Macozoma warns govt, South Africans 

By: Irma Venter     9th July 2018 South Africa is in critical need of a funding model for its road infrastructure. “The situation with toll in this country now is that, number one, people are anti-toll, and now we can’t toll anything,” said South African National Roads Agency Limited (Sanral) CEO Skhumbuzo Macozoma on Monday at... 

You can’t have your cake and eat it, Sanral’s Macozoma warns govt, South Africans
Photo by Creamer Media
Sanral CEO Skhumbuzo Macozoma

McKinsey overhauls South African office after graft scandal 

By: Reuters     9th July 2018 McKinsey has made sweeping changes to its South Africa business to try to rebuild its reputation following an ill-fated deal with friends of scandal-plagued former President Jacob Zuma. Kevin Sneader, who started as McKinsey's global managing partner last week, announced on Monday that the firm... 

McKinsey overhauls South African office after graft scandal

Digital content incubator launched at Tshimologong precinct 

By: Schalk Burger     9th July 2018 An incubation hub for digital audio-visual content opened on Monday in the Tshimologong Digital Innovation Precinct, in Braamfontein, Johannesburg, through the support of the French development institution Agence Française de Développement (AFD) and the French Institute of South Africa (IFAS). A... 

Digital content incubator launched at Tshimologong precinct
Tshimologong Digital Innovation Precinct CEO Lesley Williams

M&R to assess impact of ATON’s acquisition of a 25% stake in Aveng

By: Schalk Burger     6th July 2018 JSE-listed Murray & Roberts (M&R) will assess the impact of ATON’s acquisition of a 25.42% interest in JSE-listed Aveng. M&R, which is subject to a buyout offer by ATON, has launched a bid to acquire Aveng. M&R shareholders last month voted in favour of the company's independent board further... 

Davies appoints senior DTI officials as SABS co-administrators

By: Terence Creamer     6th July 2018 Trade and Industry Minister Dr Rob Davies has appointed three senior Department of Trade and Industry (DTI) officials as co-administrators of the South African Bureau of Standards (SABS), which he placed under administration on June 28 after dissolving the SABS board. The co-administrators had... 

Davies appoints senior DTI officials as SABS co-administrators
Photo by Creamer Media
Trade and Industry Minister Dr Rob Davies

Business leaders visit Kruger Park to learn about anti-poaching measures

By: African News Agency      6th July 2018 Chief executive officers (CEOs) from various companies visited the Kruger National Park on Friday to learn about what SanParks is doing to help curb rhino poaching, with the hopes of receiving funding from the private sector. Peace Parks Foundation CEO Werner Myburgh said the park was the biggest... 

 Business leaders visit Kruger Park to learn about anti-poaching measures

VAT, fuel price hikes: Ramaphosa gives ministers 2 weeks for plan to ease consumer pain

By: News24Wire      6th July 2018 Government will in two weeks’ time announce a package of economic measures to cushion the public from the crippling effects of high fuel price hikes and the VAT increase, President Cyril Ramaphosa said on Friday. Addressing business and government leaders in Pretoria ahead of the BRICS Summit... 

 VAT, fuel price hikes: Ramaphosa gives ministers 2 weeks for plan to ease consumer pain
President Cyril Ramaphosa

Over R1.3bn investments recorded for Western Cape in Q1 – Wesgro

By: African News Agency      6th July 2018 The Western Cape's investment promotion agency Wesgro said on Friday it had facilitated over R1.3-billion in investments in the first quarter, which would support the creation of 549 direct jobs. It said the nine investment projects secured represented a cross-section of the local economy and... 

Doctors more to blame for private healthcare costs than medical aids

By: African News Agency      6th July 2018 Doctors ordering more medical tests than ideally needed, admitting patients to hospital unnecessarily or to intensive care when a general ward would do are among the activities driving private healthcare costs up – even more so than high medical aid subscriptions. This was among the key findings... 

Cooperative governance minister tackles municipality debt, electricity distribution

By: African News Agency      6th July 2018 South African municipalities are buckling under the pressure of non-payment for services which has resulted in dwindling revenue, threatening delivery of service to communities, the Cooperative Governance and Traditional Affairs (CoGTA) said late on Thursday after its minister Zweli Mkhize met... 

STEM career expo seeks to link youth with prospective employers

By: Schalk Burger     6th July 2018 The science, technology, engineering and mathematics (STEM) Career Expo will provide school goers, undergraduates and graduates with the opportunity to interact directly with companies to determine what careers are available to those interested in STEM, says STEM Career Expo CEO Eric Wright. The... 

26.8% of all cigarettes in South Africa sold under taxable minimum, study finds 

By: Simone Liedtke     5th July 2018 According to a study by independent market researcher Ipsos, 26.8% of all cigarettes in South Africa are sold under the R17.85 minimum, which is payable at excise duty and value-added tax (VAT). It is the responsibility of cigarette manufacturers, the company that owns the trademarks, to pay the... 

26.8% of all cigarettes in South Africa sold under taxable minimum, study finds

Cabinet’s failure to consider IRP threatens mid-August deadline

By: Terence Creamer     5th July 2018 South Africa’s Cabinet did not deliberate on the Integrated Resource Plan (IRP) at its most recent fortnightly meeting, potentially threatening Energy Minister Jeff Radebe’s self-imposed mid-August deadline for finalising the long-awaited update to the electricity generation plan. Communications... 

Cabinet’s failure to consider IRP threatens mid-August deadline
Photo by GCIS
Communications Minister Nomvula Mokonyane

Govt expects another fuel price increase

By: Sashnee Moodley     5th July 2018 The South African government has noted the recent surge in fuel prices and expects another increase next month. South Africa’s currency exchange to the US dollar has fallen by more than one percent since May this year. Petrol went up by 26 cents a litre for 93 octane and by 23 cents for 95... 

Govt expects another fuel price increase

Policy Uncertainty Index deteriorates to 51 in Q2

By: Simone Liedtke     4th July 2018 As a result of various economic and political factors over the past three months, which generated a renewed degree of policy uncertainty, the North-West University (NWU) Business School’s Policy Uncertainty Index (PUI) rose to 51 index points in the second quarter, compared with 49.6 in the first... 

Policy Uncertainty Index deteriorates to 51 in Q2
Photo by Creamer Media
Professor Raymond Parsons

SA Mint celebrates the CT scan with commemorative crown, tickey coins

By: Simone Liedtke     3rd July 2018 The South African (SA) Mint will celebrate the computed tomography (CT) scan, a medical technology developed by South African-born Allan McLeod Cormack, with the 2018 edition collectible crown and tickey coins. With modern medicine relying heavily on tools for medical diagnosis and imaging... 

SA Mint celebrates the CT scan with commemorative crown, tickey coins
The set contains the R2 crown with the reverse depicting a stylised representation of the human head, which indicates the area to be scanned, the denomination, the words ‘Computed Tomography’, and the year ‘1956’

South Africa funding to suffer from weak rand, high yields – Moody's

By: Reuters     3rd July 2018 South Africa will find it harder to raise funds and service its foreign debt after a worsening of external financing conditions in recent months due to a fall in the rand and rising bond yields, Moody's said on Tuesday. Moody's was the last of the top three major rating agencies to rate South... 

South Africa funding to suffer from weak rand, high yields – Moody's

Ramaphosa concludes Mauritania visit, returns home

By: African News Agency      3rd July 2018 President Cyril Ramaphosa has returned home after a working visit to Nouakchott, in Mauritania where he participated and led the South African delegation at the 31st Ordinary Session of the African Union (AU) Assembly of Heads of State and Government, the Presidency said on Tuesday. The AU Summit... 

Ramaphosa concludes Mauritania visit, returns home
President Cyril Ramaphosa

More than R650m budgeted to prepare Gauteng land for expropriation   

By: Anine Kilian     2nd July 2018 The Department of Human Settlements has budgeted more than R650-million to prepare identified portions of land in Gauteng for expropriation without compensation. Human Settlements MEC Dikgang Uhuru Moiloa said on Monday that the province’s rapid land release programme, launched in May, would... 

More than R650m budgeted to prepare Gauteng land for expropriation
Human Settlements MEC Dikgang Uhuru Moiloa talks about land expropriation without compensation

Sars kicks off tax season with charter outlining taxpayers' rights

By: News24Wire      2nd July 2018 The South African Revenue Service (Sars) is taking steps to improve the service delivered to taxpayers with the release of the Service Charter which outlines taxpayers’ rights and responsibilities as well as service standards they can expect from the agency. Acting Sars commissioner Mark Kingon... 

 Sars kicks off tax season with charter outlining taxpayers' rights

Ramaphosa tells AU summit 'money lost to corruption could finance improved lives'

By: African News Agency      2nd July 2018 The African Union (AU) Summit currently underway in the Mauritanian capital Nouakchott is focusing on four broad thematic areas - the fight against corruption, institutional reform of the AU, consolidating the Africa Continental Free Trade Area, and Peace and Security as introduced by former... 

 Ramaphosa tells AU summit 'money lost to corruption could finance improved lives'
President Cyril Ramaphosa

Restoring the credibility of Sars critical – Nene

By: African News Agency      2nd July 2018 As the annual tax filing season opened, Finance Minister Nhlanhla Nene on Monday said government was deeply committed to stabilising the South African Revenue Service (Sars) to a credible operation and making sure it met collection targets. "There can be no mission more important than stabilising... 

 Restoring the credibility of Sars critical – Nene
Photo by Bloomberg
Finance Minister Nhlanhla Nene

South Africa signs free trade agreement with AU 

By: African News Agency      2nd July 2018 South Africa has signed the African Continental Free Trade Area agreement with the African Union. Trade and Industry Minister Rob Davies confirmed Sunday’s signing of the 250-pages document in a video put out by the department of Trade and Industry (dti) on Twitter. 

South Africa signs free trade agreement with AU
President Cyril Ramaphosa signs the African Continental Free Trade Area Agreement

Hudaco delivers sound H1 results amid tough trading conditions

By: Simone Liedtke     29th June 2018 With the positive sentiment and economic growth expectations stemming from recent political changes in South Africa, Hudaco Industries continued to deliver sound results in the six months to May 31. Characteristic of this trading environment, however, is the “Ramaphoria” phase, Hudaco CE Graham... 

Hudaco delivers sound H1 results amid tough trading conditions
Photo by Dylan Slater
Hudaco CE Graham Dunford

FDI in South Africa declining 

By: Anine Kilian     29th June 2018 South Africa needs to improve its governance and regulatory transparency to attract more foreign direct investment (FDI), says AT Kearney global business policy council chairperson Paul Laudicina. In a briefing on Friday, he noted that South Africa’s share of regional foreign direct investment... 

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