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Macro and Micro News

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... 

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... 

Offshore property investment a big opportunity for South African Reits

By: Nadine James     29th June 2018 The global sell-off in emerging markets, an intractably weak domestic economy, an oversupply of business space and a focus on the quality of earnings are all set to be major drivers of South Africa’s real estate investment trust (Reit) sector in the second half of this year, the SA Reit... 

Opportunity for smaller exporters amid global ecommerce trend

By: Schalk Burger     29th June 2018 The growth of e-commerce and changing retail industry trends provide entrepreneurs and small businesses with new opportunities to sell their products and services to international markets, says courier multinational FedEx Express Southern Africa operations VP Mike Higley. According to the PayPal... 

Davies dissolves SABS board after ‘unpersuasive’ representations

By: Creamer Media Reporter      28th June 2018 Trade and Industry Minister Dr Rob Davies announced on Thursday that he had dissolved the South African Bureau of Standards (SABS) board with immediate effect, owing to its failure to exercise its fiduciary duties in terms of the Standards Act and the Public Finance Management Act. The... 

Davies dissolves SABS board after ‘unpersuasive’ representations
Photo by Creamer Media
Trade and Industry Minister Rob Davies

Sephaku optimises capacity utilisation despite subdued trading environment

By: Simone Liedtke     28th June 2018 Despite a subdued trading environment, owing to intensifying competition in the ready-mix concrete segment, building materials company Sephaku Holdings has optimised its overall capacity utilisation in terms of production and transport, while further reducing its debt in the financial year ended... 

Sephaku optimises capacity utilisation despite subdued trading environment

First Youth Employment Service community hub launched in Gauteng

By: Marleny Arnoldi     28th June 2018 Government’s business-led employment initiative, the Youth Employment Service (YES), on Thursday launched its first community hub, in Tembisa, Gauteng. YES aims to establish 100 hubs, which are smart infrastructure solutions that aim to address youth unemployment challenges by bringing... 

First Youth Employment Service community hub launched in Gauteng

Meyburgh to retire as Stefanutti CEO in May 2019

By: Simone Liedtke     28th June 2018 JSE-listed Stefanutti Stocks on Thursday announced several leadership changes, including the retirement of CEO Willie Meyburgh on May 31, 2019. Russell Crawford, currently MD of the company's construction and mining business unit, has been appointed CEO-designate, and will report to Meyburgh from... 

Petrol price still on course to breach record R16/litre: Fuel hikes 'could've been far higher' – AA

By: News24Wire      28th June 2018 South Africans have been thrown a lifeline by declining oil prices in June, reports the Automobile Association (AA). Commenting on unaudited month-end fuel price data released by the Central Energy Fund (CEF). The AA says that without oil's decline, the fuel price hike for July would have been... 

Petrol price still on course to breach record R16/litre: Fuel hikes 'could've been far higher' – AA

Government vows to go after State capture loot

By: African News Agency      28th June 2018 South African Finance Minister Nhlanhla Nene said on Thursday that government was working with international institutions to trace and recover all the monies that were stolen from the country's coffers through "State capture". "Perhaps at times we underestimate the damage that State capture did.... 

Government vows to go after State capture loot
Photo by Bloomberg
Finance Minister Nhlanhla Nene

Ramaphosa to participate in World Economic Forum roundtable

By: African News Agency      28th June 2018 President Cyril Ramaphosa was due on Thursday to participate in a roundtable of the World Economic Forum (WEF) with South Africa to shape an inclusive and sustainable agenda for economic growth and address the triple challenge of poverty, inequality and unemployment, his office said. The... 

Ramaphosa to participate in World Economic Forum roundtable
President Cyril Ramaphosa

EOH names specialised solutions company Nextec as restructuring takes shape

By: Schalk Burger     27th June 2018 JSE-listed EOH has revealed the name of its new specialised solutions company as Nextec, while its information and communication technology (ICT) business will continue to operate under the EOH brand, the company said in a statement on Wednesday. This follows after the group, in March, announced... 

Mercedes-Benz to invest R10bn in East London plant expansion

By: Simone Liedtke     26th June 2018 Automotive manufacturer Mercedes-Benz Cars will invest €600-million, or about R10-billion, to expand its South African subsidiary Mercedes-Benz South Africa’s (MBSA’s) manufacturing plant, in East London, and equip it for the future. The investment will be used to build a new paint shop and a new... 

Mercedes-Benz to invest R10bn in East London plant expansion
Photo by Simone Liedtke
Cyril Ramaphosa, Nhlanhla Nene and Markus Schäfer

South Africa to align energy plans with SADC gas master plan

By: Terence Creamer     26th June 2018 Energy Minister Jeff Radebe has promised greater alignment between South Africa’s energy plans, included the new Integrated Resource Plan (IRP) for electricity, with a regional gas master plan, which is currently under development within the the 16-country Southern African Development Community... 

South Africa to align energy plans with SADC gas master plan
Photo by Dylan Slater
Energy Minister Jeff Radebe

Land, mining uncertainty threatens South Africa growth – Moody's

By: Reuters     26th June 2018 South Africa's economic growth prospects will be limited by weak business confidence while uncertainty around land and mining reforms remain a concern for investors, ratings agency Moody's in research report on Tuesday. "Uncertainty over how this (land reform) will be achieved continues to limit... 

Land, mining uncertainty threatens South Africa growth – Moody's

South African sugar industry to march over influx of imports

By: African News Agency      26th June 2018 Hundreds of sugar cane farmers from KwaZulu-Natal and Mpumalanga provinces will on Tuesday march to the Department of Trade and Industry in Tshwane demanding that a tariff on sugar be reinstated to protect the domestic industry from cheap imports.  The South African Sugar Association (SASA) said... 

Afreximbank signs $1bn programme to promote South Africa-Africa trade

By: African News Agency      26th June 2018 The African Export-Import Bank (Afreximbank) and the Export Credit Insurance Corporation of South Africa (ECIC) on Monday, signed a memorandum of understanding for a $1-billion financing programme to promote and expand trade and investments between South Africa and the rest of Africa. Under the... 

Ramaphosa is 'very pro business' says Presidential investment envoy

By: African News Agency      26th June 2018 President Cyril Ramaphosa is “very pro business, very pro capital” and recognises the importance of this in attracting local and international investment, according to businesswoman Phumzile Langeni. Langeni, who is the executive chairperson of Afropulse, is part of the Presidential Special Envoy... 

Ramaphosa is 'very pro business' says Presidential investment envoy
Photo by Creamer Media
President Cyril Ramaphosa

Starting Eskom wage talks at 0% may have been 'tactically wrong' - Jabu Mabuza 

By: African News Agency      25th June 2018 Eskom Chairperson Jabu Mabuza on Monday said it may have been “tactically wrong” to start wage negotiations with unions representing employees at the power utility at zero per cent. “When you deal with the issues of wages, I think we could have handled this issue better as Eskom. It was perhaps... 

 Starting Eskom wage talks at 0% may have been 'tactically wrong' - Jabu Mabuza
Photo by Creamer Media
Eskom chairperson Jabu Mabuza

Local business must lead on investment, says Jabu Mabuza

By: African News Agency      25th June 2018 Jabu Mabuza, the chair of Eskom and Business Leadership South Africa (BLSA), said on Monday that local businesses needed to affirm their confidence in the country’s economy for international investment to take hold. “Foreign direct investment will only come about at the back of local investment,”... 

 Local business must lead on investment, says Jabu Mabuza
Eskom & BLSA chairperson Jabu Mabuza

Govt eyes staff cuts, hiring caps after wage deal

By: Reuters     22nd June 2018 Government is considering layoffs and early retirement packages for staff in the public sector to avoid breaking its pledge to cut spending after unions clinched above-inflation wage increases, the Treasury said on Friday. Under a deal reached in May, the government will raise salaries of public... 

Govt eyes staff cuts, hiring caps after wage deal

More must be done for youth development, job creation – Mabuza

By: Anine Kilian     22nd June 2018 The Human Resource Development Council (HRDC) should be able to contribute meaningfully in answering why South Africa’s unemployment rate remains stubbornly high, at 27.7%, Deputy President David Mabuza said on Friday.   Addressing delegates at the twentieth HRDC meeting, in Johannesburg, he... 

IDC denies politically connected elite has ‘hijacked’ black industrialist scheme

By: Terence Creamer     22nd June 2018 South Africa’s Industrial Development Corporation (IDC) has defended the integrity of the credit approval processes for its flagship Black Industrialist Programme and has given the assurance that the scheme has not been captured by individuals with connections to the governing African National... 

IDC denies politically connected elite has ‘hijacked’ black industrialist scheme
Photo by Creamer Media
Economic Development Minister Ebrahim Patel has promised that the IDC will release the names of beneficiaries

New-look IPP bid documents will need to strike delicate balance

By: Terence Creamer     22nd June 2018 The new bid documentation being prepared by the Department of Energy (DoE) for future independent power producer (IPP) procurement rounds will have to strike a delicate balance between sustaining investor interest and responding to society’s demand for increased socioeconomic benefits. In fact,... 

New-look IPP bid documents will need to strike delicate balance
Allen & Overy partner Jason van der Poel

IEC encourages the youth to register to vote in the 2019 elections

By: Simone Liedtke     21st June 2018 The Electoral Commission of South Africa (IEC) aims to increase the voter’s roll by about one-million to at least 27-million people before the 2019 national elections take place. National elections are expected to be held at some stage between May and August next year. 

IEC encourages the youth to register to vote in the 2019 elections
Photo by Dylan Slater
IEC CEO Sy Mamabolo

New era for healthcare as Motsoaledi abolishes co-payments

By: News24Wire      21st June 2018 The abolishment of co-payments is one of the proposals of the Medical Schemes Amendment bill, announced by Health Minister Aaron Motsoaledi. Motsoaledi was speaking at a briefing on the medical schemes amendment bill and National Health Insurance bill in Pretoria on Thursday. 

 New era for healthcare as Motsoaledi abolishes co-payments
Health Minister Aaron Motsoaledi

Govt to deploy support teams to assist distressed municipalities – Nel

By: Simone Liedtke     21st June 2018 Government is working to ensure that all distressed and dysfunctional municipalities have access to a district support team by December this year, says Cooperative Governance and Traditional Affairs Deputy Minister Andries Nel. Speaking at the Vision 2030 Summit, in Johannesburg, on Wednesday, he... 

Govt to deploy support teams to assist distressed municipalities – Nel
Photo by Simone Liedtke
Cooperative Governance and Traditional Affairs Deputy Minister Andries Nel

Current account deficit widens in Q1 as exports slump

By: Reuters     21st June 2018 South Africa's current account deficit widened more than expected in the first quarter to register its largest shortfall in two years as the trade balance swung to a deficit after a steep decline in exports, the central bank said on Thursday. Investor sentiment in South Africa picked up after... 

Rio-Carb commissions academic research into the future of South Africa’s mining sector

By: Nadine James     21st June 2018 Chromium carbide (CrC) wear solutions provider Rio-Carb MD Martin Maine has identified a gap in the mining sector in the form of a lack of local beneficiation in the second-tier supply chain in the South African mining industry, and has commissioned academic research to establish how the country... 

Rio-Carb commissions academic research into the future of South Africa’s mining sector
Rio-Carb MD Martin Maine

Avocado 'green gold' ripe and ready for South Africa's farmers

By: Reuters     21st June 2018 Whether you like to squash it onto your toast in the morning, millennial-style, eat it to cut your cholesterol with healthy unsaturated oil, or moisturise your face with it - if you live in the West, you're probably rarely far from an avocado. And that is very good news for South Africa's... 

Motsoaledi to unveil crucial health bills

By: News24Wire      21st June 2018 Universal health care may become a reality as Health Minister Aaron Motsoaledi gears up to present two bills to the public on Thursday. The Medical Schemes Amendment Bill and the National Health Insurance Bill have the purpose of ushering in a set of health-financing reforms that aim to provide... 

Motsoaledi to unveil crucial health bills
Health Minister Aaron Motsoaledi

Cost competitiveness key for a thriving energy sector

By: Anine Kilian     20th June 2018 The number of power projects across Africa and South Africa has grown in the last few years and has given rise to many opportunities, but also challenges, Trade and Industrial Policy Strategies executive director Saul Levin said on Wednesday. Speaking at the Manufacturing Indaba, in Sandton, he... 

There is hope for South Africa’s manufacturing sector – October

By: Anine Kilian     20th June 2018 South Africa has the potential to revive, remould and expand its manufacturing sector through partnerships between industry and government, Department of Trade and Industry deputy director general Lionel October said on Wednesday. Addressing delegates at the Manufacturing Indaba, in Sandton, he... 

There is hope for South Africa’s manufacturing sector – October
Photo by Creamer Media
DTI deputy director general Lionel October

Binding constraints affecting South Africa’s growth – Matona

By: Simone Liedtke     20th June 2018 There are binding constraints, including policy uncertainty, a regulatory environment that is not conducive to investment, and no sustained long-term partnerships between government and the industry, that are limiting South Africa’s growth potential, says National Planning Commission (NPC)... 

Education, NDP execution crucial in reaching development goals – Mohale

By: Simone Liedtke     20th June 2018 Out of the 400 South African companies listed on the JSE, only 212 have reported on their black economic empowerment (BEE) activities in the last two years, Business Leadership South Africa CEO Bonang Mohale said on Wednesday. National statistics, he highlighted during an address at the Vision... 

Education, NDP execution crucial in reaching development goals – Mohale
BLSA CEO Bonang Mohale

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