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Absa PMI weakens further in September

By: Marleny Arnoldi     1st October 2018 The Absa Purchasing Managers’ Index (PMI) remained virtually unchanged at a weak level of 43.2 points in September. The latest figure dashed hopes that the sharp PMI decline in August – to 43.4 points, down from July’s 51.5 points – was a one-off occurrence. The August figure was already an... 

SARB keeps repo rate unchanged at 6.5% 

By: News24Wire      20th September 2018 The South African Reserve Bank announced on Thursday afternoon that it will keep the repo rate unchanged at 6.5%.  The announcement was made by the central bank's governor Lesetja Kganyago at a media briefing in Pretoria.  

IFS South Africa joins YES campaign

By: Natasha Odendaal     31st August 2018 Enterprise applications company IFS has become the latest company to join South Africa’s new Youth Employment Service (YES) initiative by sponsoring learnership programmes for 30 young, unemployed South Africans. The programme aligns with the government’s drive to reduce unemployment by creating... 

South Africa launches electronic trading platform for government bonds

By: Reuters     29th August 2018 The Johannesburg Stock Exchange (JSE) and the London Stock Exchange launched the country's first electronic government bond trading platform, offering an alternative to traditional fixed-income trading via telephone or chat services. The new system offers public price transparency equivalent to... 

Kathu concentrated solar power project, South Africa

By: Sheila Barradas     10th August 2018 The salt melting process at the Kathu Solar Park plant has started. 

Nacala corridor transaction reaffirms ‘Africa open for business’

By: Simone Liedtke     30th July 2018 Owing to a consortium of three export credit agencies (ECAs), the African Development Bank (AfDB) and a lending consortium of six international and four South African banks, a collaboration on funding for the revamp and extension of the Nacala Logistics Corridor has successfully raised... 

Funding a vital link across 912kms

27th July 2018 Railway infrastructure is key to the growth of any economy – all the more, if you are exporting coal across international trade waters. Thanks to the revamped and extended Nacala Logistics Corridor, the Moatize coal mine in the northwest Tete region of Mozambique can now export greater volumes of... 

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... 

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... 

Others expected to follow Coca-Cola’s solar leadership as costs fall

By: Simone Liedtke     13th July 2018 Coca-Cola Beverages South Africa (CCBSA), Coca-Cola’s bottling partner in South Africa, is aiming to have 25% of its electricity powered by renewable sources by 2025. The company says the first 10% of this renewable energy, about 18-million kilowatt hours a year, will be rolled out nationwide... 

Others expected to follow Coca-Cola’s solar leadership as costs fall

By: Simone Liedtke     13th July 2018 Coca-Cola Beverages South Africa (CCBSA), Coca-Cola’s bottling partner in South Africa, is aiming to have 25% of its electricity powered by renewable sources by 2025. The company says the first 10% of this renewable energy, about 18-million kilowatt hours a year, will be rolled out nationwide... 

29 South African students, scholars receive Fulbright Scholarships to study in the US

By: Simone Liedtke     9th July 2018 Twenty-nine South African students and scholars have received Fulbright scholarships to conduct research and complete postgraduate studies at US academic institutions. The US Department of State-funded Fulbright Program provides scholarships to university graduates seeking a Master’s or Doctoral... 

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... 

Kropz eyeing dual listing

By: Martin Creamer     4th July 2018 Emerging plant nutrient producer Kropz is eyeing a dual listing on the Johannesburg Securities Exchange in addition to seeking admission to trade on the Aim in London, where it intends raising equity capital to fund the completion of its advanced-stage phosphates project in South Africa, cut debt... 

Manufacturing recovery hopes dampened as Absa PMI declines further 

By: Marleny Arnoldi     2nd July 2018 The seasonally adjusted Absa Purchasing Managers’ Index (PMI), compiled by the Bureau for Economic Research, fell further below the neutral 50-point mark in June, shedding 1.9 points to 47.9 points. This compares with 49.8 points in May and is the lowest level since March, when the PMI measured... 

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... 

Investec Aviation Finance assists SA Airlink in its fleet renewal strategy

By: Marleny Arnoldi     11th June 2018 Investec Aviation Finance has completed its first transaction with privately-owned airline SA Airlink, for the acquisition of three E170 aircraft.  

Coca-Cola Beverages to tap into solar energy

By: Simone Liedtke     9th May 2018 Coca-Cola Beverages South Africa (CCBSA) is installing rooftop solar photovoltaic (PV) units, with a combined installed capacity of 10.4 MW, at 11 of its sites. 10 sites will be completed by the end of the year, with the 11th expected to be completed by the end of February 2019. 

War on coal is making the world's top mine owners a lot richer

By: Bloomberg     2nd May 2018 The world’s war on coal is making its biggest producers a lot richer, at least for now. With governments from Asia to Europe setting stricter pollution limits as the climate change debate intensifies, output of the planet’s dirtiest fuel is dropping. Some of the more significant declines are... 

South Africa mining production up 3.1% in February

By: Anine Kilian     12th April 2018 South Africa’s mining production increased by 3.1% year-on-year in February, bolstered by a strong contribution from diamonds and iron-ore, according to the latest figures published by Statistics South Africa (Stats SA) on Wednesday. The February production growth, which exceeded consensus... 

Youth Employment Service to benefit 1m young people  

By: Marleny Arnoldi     27th March 2018 President Cyril Ramaphosa on Tuesday launched the Youth Employment Service (Yes) initiative – a business-led partnership with government, labour and society, that aims to empower one-million young South Africans between the ages of 18 and 34 through paid work experiences over the next three years.  

R&E reports R7m loss due to ongoing litigation

By: African News Agency      26th March 2018 South African gold miner Randgold and Exploration (R&E) on Monday reported a total comprehensive loss of R7-million for the year ended 31 December 2017, down from R7.9-million the previous year, as a result of an increase in legal fees.  R&E said that during the 2017 financial year, it received... 

Iron-ore gives South Africa’s January mining output a boost

By: Marleny Arnoldi     16th March 2018 Mining production increased by 2.4% year-on-year in January, bolstered by strong growth in iron-ore production and “other” non-metallic minerals, Statistics South Africa figures how. The January growth compares with a contraction of 0.5% in December. 

Steinhoff sells part of stake in South Africa's KAP to help cut debt

By: Reuters     14th March 2018 Crisis-hit South African retailer Steinhoff raised R3.66-billion ($311-million) from the sale of a 16.7% stake in KAP Industrial, another step in its efforts to shore up its finances and pay down debt. Steinhoff, which has more than 40 retail brands that include Conforama, Poundland and Mattress... 

Savca launches industry awards

By: Megan van Wyngaardt     13th March 2018 The Southern African Venture Capital and Private Equity Association (Savca) is launching the inaugural Savca Industry Awards, aimed at recognising portfolio companies that have thrived from private equity and venture capital investment in Southern Africa. All investee companies headquartered in... 

Global And National Energy Experts Prepare To Attend The 10th Annual Africa Energy Indaba 2018

12th February 2018 The 10th edition of the Africa Energy Indaba, is the African energy event organised for Africans, by Africans, in Africa.  It is also the regional Africa event of the World Energy Council (WEC) and is strategically partnered with the South African National Energy Association (SANEA), the NEPAD... 

Rio Tinto's blowout cash puts dividends and deals in focus

By: Bloomberg     7th February 2018 Rio Tinto Group’s best profit in three years and a record dividend is yet another sign that miners are reaping the benefits of a surge in commodity prices. Yet the sheer size of Rio’s cash flow is starting to raise another question: how else will the world’s second-biggest mining company invest... 

Industry confident Eskom board changes will help save utility

By: Megan van Wyngaardt     22nd January 2018 The appointment of a new Eskom board with “credibility, business acumen and experience” has given South African businesses hope that the embattled State-owned entity (SOE) can be salvaged, with a number of organisations lauding Deputy President Cyril Ramaphosa for taking a step in the right... 

Manufacturing ends year with a PMI low

By: Natasha Odendaal     12th January 2018 December’s “dismal” Absa Purchasing Managers’ Index (PMI) performance indicates that the South African manufacturing sector ended the year on “the back foot”, the monthly Bureau for Economic Research survey suggests. After four consecutive months of improvements and reaching a six-month high in... 

Universal Storage Systems

By: Creamer Media Reporter      3rd November 2017 From its head offices at 6 Kruger road, Strijdom Park, Johannesburg, Universal Storage Systems offers steel racking, shelving and mezzanine storage solutions to the national and international markets. With branches in Cape Town, Durban, Port Elizabeth and Nelspruit, Universal Storage Systems’... 

Anneke Grond

6th October 2017 This week we feature Anneke Grond, MD of Jasco Enterprise, which delivers end-to-end solutions across the entire information and communication technology value chain   

Endeavour board OKs Ity CIL expansion in Cote d'Ivoire

By: Henry Lazenby     20th September 2017 West African gold producer Endeavour Mining has given the $412-million Ity carbon-in-leach (CIL) project, in Cote d'Ivoire, the go-ahead, adding about 235 000 oz/y over the first five years to Endeavour’s current production profile of between 600 000 oz and 640 000 oz this year, at lower costs.... 

Servest acquires stake in ICT services company

By: Mia Breytenbach     1st September 2017 International facilities management provider Servest has partnered with investment company Bottega InvestCo in the acquisition of integrated information and communications technology (ICT) services company Getronics. The transaction, which is supported by specialist banking and asset management... 

Embattled Buffalo Coal relies on seventh renegotiation with Investec

By: Samantha Herbst     24th August 2017 The survival of South Africa-focused coal miner Buffalo Coal depends on the outcome of the seventh amendment to the company’s term loan and revolving credit agreement with specialist banker and asset management firm Investec, which is currently being negotiated. Despite having implemented various... 

AECOM clinches top honour at 2017 Universum Awards

24th August 2017 AECOM Africa took home the ‘Most Attractive Key Occupation for Engineering Professionals: Building Architects’ at the Universum Awards held in Sandton, Johannesburg on 11 May 2017. The award was received by Senika Devesheel, AECOM’s HR Director for Africa, who says the latest accolade signifies... 

Chris Baloyi

11th August 2017 This week we feature Chris Baloyi, MD of Bosch Capital, an advisory services, capital raising and investment company   

Buffalo Coal in push to slash debt and improve safety and operational efficiency

By: Ilan Solomons     21st July 2017 South African bituminous and anthracite coal miner Buffalo Coal is determined to repay all its debt and continue to improve safety standards, while improving overall operating capability to ensure its operations become optimally efficient, says interim CEO Rowan Karstel, who was speaking to... 

Shorts pile into cash-strapped Lonmin as platinum flounders

By: Bloomberg     27th June 2017 The last time there was so much short-selling on Lonmin Plc, the platinum miner was weeks away from a life-saving rights issue. At 14% of the total outstanding shares, Lonmin is the seventh-most-shorted stock on the 645-member FTSE All-Share Index, according to data compiled by Markit. That... 

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