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Ramaphosa declares end to 'investment strike' and unveils R290bn in commitments  

By: Terence Creamer     26th October 2018 President Cyril Ramaphosa declared an end to South Africa's proverbial 'investment strike', when he unveiled firm investment commitments of R290-billion across a diverse range of sectors, from mining and energy to infrastructure and manufacturing, at a well attended and vibrant investment... 

Africa’s metals, engineering cluster needs to do more to attract investment 

By: Marleny Arnoldi     21st September 2018 Steel and Engineering Industries Federation of Southern Africa (Seifsa) chief economist Dr Michael Ade has declared Africa’s metals and engineering sector open for business. Ade was addressing delegates on the second day of Seifsa’s fourth annual Metals and Engineering Indaba, in Johannesburg. 

Ramaphosa aims to crowd in private resources for infrastructure fund

By: Terence Creamer     21st September 2018 President Cyril Ramaphosa has placed the creation of a public-private infrastructure fund at the heart of an economic stimulus and recovery plan, otherwise constrained by South Africa’s serious fiscal constraints. In unveiling the plan during a briefing at the Union Buildings in Pretoria on... 

Stimulus package to rely on efficiencies not new budgetary resources – Nene

By: Terence Creamer     13th September 2018 Finance Minister Nhlanhla Nene announced on Thursday that government was “building a pipeline of investment opportunities and infrastructure projects” as part of redoubled efforts to address low levels of investment, which had been identified as the main inhibitor of growth in the... 

Failure not an option at DCT berth deepening project, says TNPA

By: Shirley le Guern     11th September 2018 Transnet’s R7-billion megaproject to create deeper berths at the Durban Container Terminal (DCT) Pier 2’s North Quay will create some disruption and require close collaboration. However, given that this is the first project to be funded by the Brazil, Russia, India, China and South Africa's New... 

African rail industry urged to adopt concepts of Fourth Industrial Revolution

By: Nadine James     4th September 2018 The African rail industry must adopt the concepts and develop the technologies of the Fourth Industrial Revolution to facilitate, and realise, the industrialisation aspirations of the continent, delegates attending a South African Heavy Haul Association (SAHHA) technical workshop, on Tuesday,... 

Positive ratings from S&P’s, Fitch enhances NDB’s lending capacity

By: Marleny Arnoldi     29th August 2018 Multilateral development bank New Development Bank (NDB) has been assigned an AA+ long-term and A-1+ short-term issuer credit rating by Standard & Poor’s Global Ratings (S&P’s). Earlier this month, Fitch Ratings assigned the bank a long-term issuer default rating of AA+ with a stable outlook... 

Xi Jinping, Ramaphosa say Brics should uphold multilateralism, reject trade war

By: Terence Creamer     25th July 2018 The Presidents of China and South Africa, Xi Jinping and Cyril Ramaphosa, offered an unequivocal rebuke of US President Donald Trump’s trade war on Wednesday and called on the Brics countries of Brazil, Russia, India, China and South Africa to act to uphold multilateralism and defend the... 

Eskom confident of raising R72bn despite qualified audit  

By: Terence Creamer     23rd July 2018 Financially stressed electricity producer Eskom expressed confidence on Monday that it would be able raise the R72-billion it required for the 2019 financial year, despite having received a qualified audit opinion for the 2018 financial year, reporting a R2.3-billion loss and nearly 20-billion in... 

Brics’ New Development Bank approves six project loans totalling $1.6bn

By: Marleny Arnoldi     29th May 2018 Multilateral development bank, the New Development Bank (NDB), on Monday held its third yearly meeting of the NDB board of governors (BoG) and the fourteenth meeting of the NDB board of directors (BoD), in Shanghai, China.  

NDB, DBSA to establish framework for cooperation

By: Simone Liedtke     28th May 2018 The multilateral New Development Bank (NDB) and the Development Bank of Southern Africa (DBSA) have signed a memorandum of understanding (MoU) on general cooperation to formalise a framework of cooperation between the two organisations to promote initiatives that foster cooperation in areas of... 

Monale Ratsoma appointed as Brics bank Africa region director-general

By: Simone Liedtke     10th April 2018 The National Treasury’s deputy director-general for economic policy Monale Ratsoma has been appointed director-general of the Brazil, Russia, India, China and South Africa, or Brics, New Development Bank (NDB) Africa Regional Centre. The appointment is effective from April 16. 

South Africa ready to take over Brics Business Council chairmanship

By: African News Agency      23rd March 2018 Africa is set for a decade of "unbelievable growth and prosperity".  This is according to Dr Iqbal Survé, chairman of the SA chapter of the Brics Business Council, who will take up the annual rotating chairmanship of the overall Brics Business Council (BBC) at the mid-term meeting which takes... 

Brics' New Development Bank could fast-track Africa infrastructure projects

By: Anine Kilian     8th March 2018 Africa lacks adequate infrastructure, which stymies regional trade and the provision of basic services such as health and education, New Partnership for Africa’s Development (Nepad) capacity development officer Bob Kalanzi said on Thursday. Addressing delegates at a dialogue, hosted by Oxfam... 

Swazi Rail Link infrastructure project, Swaziland and South Africa

By: Sheila Barradas     17th November 2017 An expression of interest for the proposed cross-border Swazi Rail Link infrastructure project will be released to potential investors before the end of this year. 

R20bn Swazi Rail Link being prepared for presentation to investors before year-end 

By: Terence Creamer     12th October 2017 An expression of interest (EoI) for the R20-billion crossborder Swazi Rail Link infrastructure project between South Africa and Swaziland will be released to potential investors before the end of 2017, South Africa’s Transnet Freight Rail (TFR) and Swaziland Rail confirmed on Thursday. The 150 km... 

Zuma calls for full implementation of sustainable development goals

By: African News Agency      5th September 2017 President Jacob Zuma has called for the “full implementation” of the Sustainable Development Goals (SDGs) as a means to eradicate poverty. He made his remarks during the Dialogue of the Emerging Markets and Developing Countries on the margins of the 9th Brics Summit in Xiamen, China, on Monday.... 

New Development Bank to benefit Africa – Zuma

By: African News Agency      17th August 2017 President Jacob Zuma said on Thursday that the New Development Bank (NDB) was set to benefit infrastructure projects on the African continent as a whole, and having a permanent regional centre showed commitment to that undertaking. “We are therefore happy to know that the bank is working on... 

New Development Bank invited to join Africa’s power push

By: Mia Breytenbach     5th May 2017 African Development Bank Group (AfDB) president Akinwumi Adesina has invited the New Development Bank (NDB) to support Light up and power Africa – the first of five top priorities of AfDB’s continental transformation agenda. Speaking at the second annual meeting of the NDB, in New Delhi, last... 

How Brics bank can change the way lenders do business

2nd December 2016 In times of economic distress, a situation South Africa finds itself in at present, governments tend to invest heavily in infrastructure, which plays a central role in economic growth and poverty reduction by promoting greater productivity, increasing trade, reducing the cost of doing business... 

With each Brics country facing challenges, could it disband?

By: Megan van Wyngaardt     5th October 2016 With the economies of the Brazil, Russia, India, China and South Africa (Brics) grouping facing severe economic and political challenges, it poses the question whether the strategic partnerships formed under the umbrella can be sustained. Institute of Global Dialogue (IGD) acting executive... 

AMSA insists R2.27bn empowerment deal meets highest governance standards

By: Terence Creamer     28th September 2016 Steel producer ArcelorMittal South Africa (AMSA) has unwrapped its long-awaited R2.27-billion broad-based black economic empowerment (BBBEE) transaction, which chairperson Mpho Makwana insists meets the highest standards of probity and governance. An earlier 2010 attempt by the JSE-listed company... 

Gigaba challenges Western media perspectives on Brics 

By: News24Wire      11th August 2016 For developing countries to achieve meaningful development, they must rely on their own resources to achieve their objectives. The Brics Forum and the introduction of the New Development Bank (NDB) are contributing to this independent development, according to Home Affairs Minister Malusi Gigaba.... 

Brics looks back at first year of NDB

By: Megan van Wyngaardt     21st July 2016 A South African delegation, led by Finance Minister Pravin Gordhan, was party to discussions on the New Development Bank’s (NDB) five-year strategy at its first annual meeting in Shanghai, China last week. The Brazil, Russia, India, China and South Africa-, or Brics-, led institution used the... 

$150m Brics bank facility seen helping ease South Africa’s grid bottlenecks

By: Terence Creamer     19th July 2016 State-owned electricity producer Eskom expects to finalise commercial terms with the New Development Bank (NDB), of the Brics grouping, for a $150-million facility in the next quarter, CFO Anoj Singh reports. A term sheet has been signed with the NDB and Singh reports that, once consummated, the... 

DoE tests market appetite for three new public-private solar parks

By: Terence Creamer     11th May 2016 The Department of Energy (DoE) indicated on Wednesday that it would canvass the appetite of independent power producers (IPPs) to develop, finance, construct and operate three new Northern Cape solar parks, of between 400 MW and 700 MW in size, in partnership with State-owned companies (SoCs). In... 

While Brics Bank snores Nene scores another gig

By: News24Wire      21st April 2016 Former finance minister Nhlanhla Nene has been appointed as a resident adviser to Thebe Investment Corporation, it was announced on Thursday. This comes after Allan Gray appointed Nene to its board on Monday. Nene, who was fired by President Jacob Zuma in December 2015, has been on “gardening... 

Brics bank starts recruitment drive

By: Anine Kilian     15th March 2016 The Brazil, Russia, India, China and South Africa (Brics) New Development Bank (NDB) has started the process of recruiting staff from its member States. The bank called on persons from the Brics countries to submit applications through its website. 

Budget in a nutshell

By: News24Wire      24th February 2016 Finance Minister Pravin Gordhan’s first comeback National Budget tabled on Wednesday afternoon in Parliament was relatively calm and workmanlike one after all the expectations of tax hikes and spending cuts amid tough economic times. He stressed the need to reaffirm government’s commitment to... 

Economy not all doom and gloom, says govt

By: News24Wire      24th February 2016 Government was at pains on Tuesday to show that it was not all doom and gloom on the investment front saying R64-billion had flowed into the country by December last year. Speaking on behalf of the International Co-operation, Trade and Security Cluster, Telecommunications Minister Siyabonga Cwele... 

Trade between Brics countries up 70%

By: SANews, SA government news service     6th August 2015 President Jacob Zuma says trade has increased by 70% between Brics member countries over the past couple of years and that South Africa stands to benefit from the Brics Development Bank. The President said this when answering questions for written reply at the National Assembly in Cape Town on... 

Remember the Brics bank?

By: Keith Campbell     31st July 2015 Last week – on July 21, to be precise – the New Development Bank (NDB) formally came into existence in Shanghai, China. Created by the countries of the Brics (Brazil, Russia, India, China and South Africa) alignment – alliance or bloc would be too strong a word to describe the association – it... 

Gauteng pitches water, sanitation, energy projects to private investors 

By: Natalie Greve     17th July 2015 In a hard sell to the private investment community, Gauteng Infrastructure Development MEC Nandi Mayathula-Khoza on Friday reiterated her province’s need for private-sector equity investment in its bold infrastructure roll-out programme, telling delegates at the inaugural Gauteng Infrastructure... 

Brics countries expected to lead next round of nuclear investment

By: Martin Zhuwakinyu     10th July 2015 Nuclear energy’s share of the world’s electricity generation mix may have pared down in the past decade, but hopes that this technology will once again account for nearly one-fifth of total supplies from around 2050 remain. And the Brics grouping of Brazil, Russia, China and South Africa is set... 

Brics New Development Bank president appointed

By: Megan van Wyngaardt     8th July 2015 The Brazil, Russia, India, China and South Africa (Brics) New Development Bank (NDB) will be led by KV Kamath, who was appointed as its president, in Moscow, Russia on Wednesday. Prior to the appointment, Kamath served as chairperson of the second-largest Indian information technology services... 

Brics summit to see ties between member States deepen – Zuma

By: African News Agency      7th July 2015 The seventh Brics summit this week will see a deepening of relations in the emerging markets bloc as member nations sign a range of new agreements, the South African presidency said on Tuesday. The leaders of Brazil, Russia, India, China and South Africa would also learn how far each had come in... 

Brics Development Bank operational by year-end

By: Natalie Greve     26th June 2015 South Africa’s Cabinet has endorsed the nomination of Leslie Maasdorp as VP of the Brazil, Russia, India, China and South Africa (Brics) New Development Bank (NDB) and has appointed former South African Reserve Bank governor Tito Mboweni as a nonexecutive director of the bank’s board. The bank... 

SA and Russia advance bilateral relations

By: SANews, SA government news service     11th May 2015 South Africa and Russia have once again agreed to sustain the momentum of their bilateral relationship. This follows a successful bilateral discussions between President Jacob Zuma and Russian President Vladimir Putin in Moscow, Russian which has served to take forward the strong bilateral... 

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