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Africa must have clear plan for using its gas reserves

By: Marleny Arnoldi     18th February 2019 It is vital that Africa has a clear and cohesive vision in place for how it plans to use its gas reserves, says New Partnership for Africa's Development Business Foundation senior project manager John Rocha. Speaking at the Africa Gas Forum, on Monday, he pointed out that African countries have... 

Banks urge Ramaphosa to put politics aside in fixing State firms  

By: Bloomberg     15th February 2019 A lobby group representing South African banks urged President Cyril Ramaphosa to prioritise the country’s wider interests rather than securing votes for the ruling African National Congress if he is to boost confidence in the economy before May elections. Ramaphosa’s plan to split its troubled... 

The rot continues

By: Martin Zhuwakinyu     15th February 2019 Just more than a year ago, African heads of State and government converged on the Ethiopian capital of Addis Ababa to launch 2018 as the continent’s Anticorruption Year. No stone was going to be left unturned in the fight to rid Mother Africa of this pernicious scourge, which continued to deal... 

As renewables soar, BP sees China hitting brakes on energy growth

By: Reuters     14th February 2019 Global demand for renewable power will soar at an unprecedented pace over the coming decades, BP said in a benchmark report on Thursday, while China’s energy growth is seen sharply decelerating as its economic expansion slows. Still, China is set to remain the largest energy consumer by a long... 

Mboweni to trim deficit forecast on growth hopes

By: Reuters     14th February 2019 South Africa's Treasury head Tito Mboweni is likely to appease rating agencies and squeeze a tenth of a percentage point off his previous budget deficit forecast for next financial year, a Reuters poll showed on Thursday. The poll taken in the past week suggests Mboweni will announce a deficit... 

2019 Budget will present South Africa with ‘a path of hope’ – PwC 

By: Simone Liedtke     13th February 2019 With Finance Minister Tito Mboweni scheduled to deliver the 2019 Budget Speech, in Cape Town, on February 20, expectations are high as the country waits to hear how he plans to balance competing expenditure priorities to stimulate economic growth, in spite of fiscal consolidation measures. In the... 

Industry shares sentiments on Eskom, energy landscape following SoNA 

By: Marleny Arnoldi     8th February 2019 Following President Cyril Ramaphosa’s State of the Nation Address (SoNA) on Thursday evening, Business Unity South Africa (Busa) said it concurred on the urgent need to implement an effective turnaround strategy at Eskom.  The organisation also welcomed the general thrust of policies mapped out... 

Naamsa projects 1% increase in new-vehicle sales

By: Thabi Madiba     8th February 2019 The National Association of Automobile Manufacturers of South Africa (Naamsa) projects a marginal increase in new-vehicle sales of 1.0% for 2019, premised on the assumption that South Africa will not be downgraded and a modest increase in gross domestic product (GDP) to about 1.5%, says Naamsa... 

Big economic opportunity being missed as ewaste piles up

By: Natasha Odendaal     8th February 2019 The rise in electronic and electrical waste (e-waste) is resulting in a lost economic opportunity of $62.5-billion a year– a value greater than the gross domestic product of most countries – a new report shows. Each year, about 50-million tonnes of e-waste is being discarded – with less than 20%... 

Sanedi ready to support the mining industry in energy efficiency

By: Kim Cloete     6th February 2019 The mining sector has been encouraged to use more renewable energy and tighten up on energy efficiency, with the support of the South African National Energy Development Institute (Sanedi). Energy Minister Jeff Radebe said the mining industry would need innovative and novel solutions to reduce... 

Eskom’s own survival at risk should big hikes be permitted, EIUG warns  

By: Terence Creamer     5th February 2019 The Energy Intensive User Group (EIUG) has added its voice to the overwhelming chorus of societal opposition to Eskom’s latest tariff submission, warning on Tuesday that above-inflation hikes would have “immediate, catastrophic and irreversible” consequences for South Africa’s mining and... 

Mantashe calls for mining investment amid renewed regulatory certainty  

By: Kim Cloete     4th February 2019 Mineral Resources Minister Gwede Mantashe has assured investors it is safe and stable to invest in the South African mining industry, with the return of regulatory certainty and a revised Mining Charter. “There was a lot of policy and regulatory uncertainty for the better part of last year. We... 

Minerals Council reports mining industry’s 2018 successes

By: Tasneem Bulbulia     4th February 2019 South Africa’s mining industry contributed R356-billion to the country’s gross domestic product (GDP) in 2018, an increase on the R335-billion contribution in 2017, the Minerals Council South Africa ‘Facts and Figures 2018 Pocketbook’ shows. The pocketbook, which was released on Monday during a... 

Shrinkflation

By: Riaan de Lange     1st February 2019 Isn’t it curious how, daily, we see and hear words, without really seeing and hearing the words, with the meaning and definition of the words, rightly or wrongly, set and formalised in our minds. We no longer even give the words a second thought or even a second glance. In addition to not paying... 

South African mining a ‘complex business’ – UFS Vice-Chancellor

By: Simone Liedtke     30th January 2019 Mining has become a “complex business”, largely as a result of the unique dynamics of stakeholder engagements and expectations, government regulations and the technical and operational imperatives, University of the Free State (UFS) Rector and Vice-Chancellor Professor Francis Petersen states in... 

Automotive sector to prioritise local, specialised component manufacturing 

By: Marleny Arnoldi     29th January 2019 Vehicle manufacturer Toyota South Africa (Toyota SA) on Tuesday pointed to localisation and specialised component manufacturing as the top priorities in the five-year Automotive Sector Business Plan. Toyota SA president and CEO Andrew Kirby presented the plan on behalf of the automotive sector at... 

Business outlines five partnership priorities as it calls for new growth framework  

By: Terence Creamer     29th January 2019 Business Unity South Africa (Busa) president Sipho Pityana has called for a “new framework for growth” that addresses, through public-private partnerships, the economic risk being posed by high levels of inequality. Speaking at Busa’s inaugural Business Economic Indaba in Johannesburg on Tuesday,... 

Nontariff barriers are holding African economic growth back – WEF panel

By: Marleny Arnoldi     25th January 2019 A panel of business leaders speaking at the World Economic Forum (WEF) meeting, in Davos, Switzerland, this week, bemoaned the difficulty in obtaining work permits and visas for Africans across the continent and discussed the urgent need for Africa to focus on reducing nontariff barriers to... 

Indaba celebrates silver anniversary, reaffirms commitment to Africa

By: Nadine James     25th January 2019 The 2019 Investing in African Mining Indaba – to be held at the Cape Town International Convention Centre from February 4 to 7 – will be the twenty-fifth iteration of the event, with the “world’s largest mining conference” having reached this milestone being testimony to its relevance and value,... 

Mobile retail revenues on the decline globally

By: Natasha Odendaal     25th January 2019 Half the world has now been connected, marking an important milestone for the global information and communication technology (ICT) industry; however, global retail telecommunication revenues are lagging owing to greater market maturity. Global retail telecommunication revenues reached... 

Ongoing tech investment seen as driver of future tourism growth

By: Schalk Burger     25th January 2019 South Africa must continue to invest in travel technologies and Internet of Things technologies to tap the potential of tourism amid changing expectations of travel and modes of transport, says digital security multinational Gemalto Commonwealth of Independent States, Middle East and Africa... 

World Bank says Eskom debt restructuring should be coupled to power market reform  

By: Terence Creamer     23rd January 2019 World Bank country director Paul Noumba Um believes the South African government is moving in the “right direction” by pursuing discussions on possible debt relief for Eskom in conjunction with plans for restructuring the utility and overhauling the architecture of domestic power market. He also... 

Tanzania to cancel licenses for undeveloped mineral sites

By: Bloomberg     23rd January 2019 Tanzania intends to cancel permits for mineral sites belonging to large-scale miners that remain undeveloped and will allocate the licences to smallholders, President John Magufuli said. The announcement comes amid a tax dispute between the state and Acacia Mining, in which the government is... 

Business insolvencies to remain as long as GDP growth is subdued – Euler Hermes

By: Marleny Arnoldi     22nd January 2019 Credit insurance company Euler Hermes expects business insolvencies in South Africa to increase by about 2% this year, following a 3% increase in 2018. The company stated on Tuesday that this was the first outright deterioration since 2009 and the global financial crisis.  

World Bank says confidence not enough to lift South Africa’s growth prospects  

By: Terence Creamer     22nd January 2019 The World Bank expects South Africa's growth to pick up modestly in 2019 to 1.3% on the back of several “promising” policy announcements made by President Cyril Ramaphosa’s administration in 2018. It expects the economy to expand by 1.7% in 2020. Nevertheless, the bank believes that the country’s... 

Middle East operators seen leading global 5G roll-out

By: Natasha Odendaal     18th January 2019 Pioneering mobile operators in the Gulf Cooperation Council (GCC) Arab States are expected to be the global leaders in the deployment of fifth-generation (5G) networks, driving innovative new services across the region and spurring future growth. All six markets, namely Bahrain, Kuwait, Oman,... 

Corruption, weak governance hinders sub-Saharan Africa’s economic growth – IMF

By: Marleny Arnoldi     16th January 2019 Countries in sub-Saharan Africa could strengthen their economic performance by improving governance and reducing corruption, a working paper published by the International Monetary Fund (IMF) has found. The paper, titled ‘A Governance Dividend for Sub-Saharan Africa?’ stated that countries in... 

Mexico plans no drastic changes to mining sector - official

By: Reuters     21st December 2018 The head of Mexico's mining industry said the new government does not seek to implement drastic changes in the sector, cancel concessions or raise royalties that companies pay to extract minerals. At the end of last month, shares of Mexico's main mining companies fell more than 10% after the... 

Big power users call for inflation-linked tariff ‘compact’ and industry review 

By: Terence Creamer     1st November 2018 The Energy Intensive Users Group (EIUG) has called for an electricity price compact that sustains tariff increases as close to consumer price inflation as possible for the coming five years. The proposal is made in a precursor to the EIUG’s official response to Eskom’s latest revenue application,... 

Volatility in global base metals industry to remain, but outlook stable – Moody’s

By: Marleny Arnoldi     30th October 2018 Financial services firm Moody’s Investor Service has a stable outlook for the global base metals industry over the next 12 to 18 months, although indications are that economic growth rates may have peaked. The firm said in a release on Tuesday that synchronised economic growth rates in 2018,... 

Namibia scraps black ownership rules for mining exploration licences

By: Reuters     26th October 2018 Namibia has scrapped a requirement for companies seeking mining exploration licences to be partly owned and managed by black Namibians, the country's mining industry group said on Friday. The policy was introduced in 2015 to increase the participation of historically disadvantaged black Namibians... 

SEZ to boost stainless steel industry

By: Thabi Madiba     26th October 2018 The Limpopo-based export-oriented mega mineral energy complex, in a special economic zone (SEZ), in which Chinese State-owned companies are set to invest, is “the biggest thing on the horizon” in the local stainless steel industry, says Southern Africa Stainless Steel Development Association... 

Infrastructure at heart of reprioritised, stimulus-aligned expenditure plan 

By: Terence Creamer     24th October 2018 Finance Minister Tito Mboweni has confirmed that expenditure worth R32.4-billion will be reprioritised over the coming three years in line with government’s recently released Economic Stimulus and Recovery Plan. The figure appeared to fall short of the R50-billion reprioritisation target outlined... 

Move to tackle VAT refund backlog lops billions off revenue forecast 

By: Marleny Arnoldi     24th October 2018 The National Treasury has lowered its revenue collection forecast for 2018/19 by R27.4-billion, largely as a result of belated moves by South African Revenue Service (Sars) to address a major backlog value-added tax (VAT) refunds. The issue of delayed repayments has been a major bone of... 

Buying only SA-made vehicles could boost GDP by R37bn, says Wits study  

By: Irma Venter     23rd October 2018 New research by the University of the Witwatersrand (Wits) shows that a government policy of buying only locally produced cars, bakkies, buses and trucks at national and provincial government level could, through various multiplier effects, increase South Africa’s gross domestic product (GDP) by... 

Global trade and development trends impact on South Africa, present opportunities

By: Tasneem Bulbulia     22nd October 2018 The recently released United Nations Conference on Trade and Development (Unctad) Trade and Development Report for 2018, entitled ‘Power, Platforms and the Free Trade Delusion’, outlines a number of lessons that South African can learn, and also presents opportunities for the country to... 

Positives of migration

By: Martin Zhuwakinyu     19th October 2018 Television footage of desperate Africans drowning in the Mediterranean Sea en route to Spain and other European destinations that hold out the promise of a better life has become all too frequent. The International Organisation for Migration puts the cumulative toll since 2000 at 33 000, with... 

Getting Africa fit for the future requires good governance – Africa Forum

By: Marleny Arnoldi     18th October 2018 Law firm Hogan Lovells Africa head and partner Andrew Skipper on Thursday opened the firm’s Africa Forum conference by stating that, in Africa, there is a combination of optimism and scepticism, but stressed that the available opportunities were enormous. “Currency, corruption and certainty need... 

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