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Cummins emerges a major winner at 2018 Gender Mainstreaming Awards

18th September 2018 Cummins Africa Middle East (AME) emerged a major winner at the Gender Mainstreaming Awards at the Ticketpro Dome in Northgate, Johannesburg on Thursday 13 September. The awards are an initiative of the Business Engage Association NPC, sponsored by PricewaterhouseCoopers (PwC). The awards aim to... 

Cummins emerges a major winner at 2018 Gender Mainstreaming Awards

17th September 2018 Cummins Africa Middle East (AME) emerged a major winner at the Gender Mainstreaming Awards at the Ticketpro Dome in Northgate, Johannesburg on Thursday 13 September. The awards are an initiative of the Business Engage Association NPC, sponsored by PricewaterhouseCoopers (PwC). The awards aim to... 

Acacia appoints interim chair ahead of Dushnisky’s departure

By: Creamer Media Reporter      29th August 2018 Gold miner Acacia Mining has appointed independent nonexecutive director Rachel English as interim chairperson of the board, effective September 1. Outgoing chairperson Kelvin Dushnisky has tendered his resignation, effective August 31, following his resignation as president and CEO of Acacia’s... 

Nairobi Securities Exchange suspends trading of Kenya's ARM Cement

By: Reuters     20th August 2018 The Nairobi Securities Exchange (NSE) said on Monday it had suspended trading of Kenya's ARM Cement three days after it was put under administration. "The suspension in trading of the company's shares takes effect from August 20, 2018," NSE said in a statement. "This suspension shall remain in... 

Hawks investigate cases related to Gupta-loot worth more than R40bn

By: News24Wire      16th August 2018 The Hawks are investigating cases related to the Guptas' state capture project that involves more than R40 billion which has been plundered from state coffers. Lieutenant General Godfrey Lebeya presented the Hawks' progress in several cases of state capture to the Portfolio Committee on Police on... 

SAPA to continue to campaign for chicken to be exempt from VAT

By: Anine Kilian     14th August 2018 The South African Poultry Association will continue to campaign for chicken to be exempt from value-added tax (VAT) because it believes it is in the interests of the country and lower-income households, it said in a statement on Tuesday.   SAPA is disappointed that the Woolard panel did not... 

Panasonic launches its new headquarters in Cape Town

By: Kim Cloete     12th July 2018 Prompted by a growing customer base in the Western Cape, Panasonic South Africa has launched its new South African headquarters in Century City, in Cape Town. “We are excited about our new headquarters. We decided to move to the Western Cape because of the growth in our customer base in this... 

Accountability, ethical remuneration needed to boost corporate governance – PwC

By: Marleny Arnoldi     12th July 2018 Rules on executive bonuses and incentives need to be tightened to boost corporate governance, professional services firm PricewaterhouseCoopers’ (PwC’s) ‘Executive Directors: Practices and Remuneration Trends’ report has found.  

Africa hotel sector offers potential for further growth over next 5 years – PwC

By: African News Agency      5th July 2018 Africa’s hotel sector has the potential for further growth over the next five years, with an increase in the number of foreign and domestic travellers, as well as an expansion in a number of hotel chains on the continent reinforcing the industry's untapped potential, a report by... 

Basil Read enters business rescue

By: Irma Venter     15th June 2018 Basil Read on Friday announced that it has entered voluntary business rescue, as provided for by Section 129 of the Companies Act. Shares in the construction group plummeted 94% in afternoon trade, from a high of 22c to a low of 1c. 

Only 10% of global manufacturing companies are championing digital transformation – PwC

By: Marleny Arnoldi     8th May 2018 Industry 4.0 is rapidly transforming the manufacturing sector and digital transformation has been on many a CEO’s agenda for a number of years, but despite this, only a small group of companies is in a position to gain real competitive advantage from this operations revolution, says... 

Basil Read outlines turnaround plan as auditor issues going-concern warning

By: Irma Venter     28th March 2018 Basil Read remains a viable business, despite the group’s auditors noting their apprehension regarding the company’s ability to continue as a going concern, says CEO Khathutshelo Mapasa, who took over the reins at the company in October. PricewaterhouseCoopers noted in Basil Read’s annual results... 

Russian-Zimbabwean firm to invest $400m in Zimbabwe platinum

By: Reuters     15th March 2018 Great Dyke Investments (GDI) said on Thursday it would invest around $400-million to build a precious metals mine and smelter in Zimbabwe, as the country opens up to international business. The joint venture between Russia's Afromet and Zimbabwe's Pen East expects to produce up to 855 000 oz (27... 

Former Old Mutual CEO joins board of mineral sands miner Base

By: Creamer Media Reporter      22nd February 2018 The former CEO of asset manager Old Mutual Investment Group, Diane Radley, has been appointed to the board of ASX- and Aim-listed Base Resources. Radley, whose independent nonexecutive director appointment was effective from February 1, brings significant and diverse African experience to the... 

Birimian settles tax issues through full disclosure

By: Schalk Burger     16th February 2018 ASX-listed lithium and gold exploration company Birimian has settled with the Australian Tax Office (ATO), which waived all penalties in relation to tax obligations after the Mali-focused company made voluntary disclosures of all its financial statements since August. The penalties were in... 

Steinhoff continues trade, appoints subcommittee

By: News24Wire      11th December 2017 Disgraced retail international holding company Steinhoff has established a board subcommittee to bolster independent governance following the resignation of CEO Markus Jooste over accounting irregularities which are being investigated. In a note to shareholders issued on Monday morning, the group... 

KAZ appoints CFO to take over from Southam

By: Creamer Media Reporter      11th September 2017 Copper miner KAZ Minerals has appointed Intertek FD John Hadfield as its new CFO, effective January 1. Before joining the UK arm of Intertek, Hadfield spent over 14 years at BG Group and Royal Dutch Shell. 

Industrialisation, infrastructure development to accelerate economic growth – Gama

By: Mia Breytenbach     5th June 2017 Industrialisation and the provision of infrastructure will accelerate Africa’s economic growth, says State-owned logistics provider Transnet CEO Siyabonga Gama. Speaking at the International Heavy Haul Association (IHHA) Conference promotion breakfast, in Johannesburg, on Monday, he highlighted... 

Scopa welcomes SIU investigation into Eskom coal deals

By: Ilan Solomons     30th May 2017 The Standing Committee on Public Accounts (Scopa) has welcomed the decision by Public Enterprises Minister Lynne Brown to refer Eskom’s procurement contracts, including those signed with the Gupta family-linked Tegeta Resources, to the Special Investigating Unit (SIU) for investigation. The SIU... 

Eskom resolute on Tegeta as MPs call for contract to be cancelled

By: African News Agency      30th May 2017 Eskom CEO Brian Molefe on Tuesday brushed aside calls from Members of Parliament (MPs) for the company’s Brakfontein coal contract with Tegeta to be cancelled, saying it has been through a self-corrective exercise to resolve its procurement problems. Molefe demanded that he be allowed to give... 

Implats launches dual convertible bond offerings

By: Martin Creamer     25th May 2017 Platinum mining company Impala Platinum (Implats) on Thursday launched dual convertible bond offerings to enhance the company’s short-to-medium term liquidity and maintain its strong financial position. Johannesburg Stock Exchange-listed Implats, headed by new CEO Nico Muller, is offering up to... 

Fortune appoints PwC to help secure Nico construction funding

By: Henry Lazenby     19th January 2017 TSX-listed multi-element project developer Fortune Minerals has appointed PricewaterhouseCoopers Corporate Finance (PwCCF) to help secure the C$589-million-plus working capital required to build its flagship Nico cobalt/gold/bismuth/copper project, in Canada’s Northwest Territories. “As a new... 

Wanted: 21 000 women to meet gender target at world’s top miner

By: Bloomberg     20th October 2016 BHP Billiton wants women to account for half of its workforce by 2025 as the world’s top miner seeks to change the gender balance in an industry dominated by men. The company isn’t “as inclusive or diverse as we could be", CEO Andrew Mackenzie said in a statement on Thursday.  

Life-changing Angolan project wins international award in London

5th May 2016 A co-designed city vision for the future has been awarded a Masterplan prize at British Expertise International Awards in London. The Masterplan Framework for the Province of Luanda, Angola received the top award for Outstanding Masterplanning Project of 2016. Designed by a consortium led by... 

Schneider Electric participates to the UN Women’s inaugural HeForShe Parity Report

25th February 2016 Schneider Electric, the global specialist in energy management and automation, alongside 9 other world’s leading companies participated to the UN Women’s inaugural HeForShe Parity Report. The report, which released new workforce gender diversity figures including details on leadership roles and... 

Cabinet must be reduced to cut costs – expert

By: News24Wire      16th February 2016 To cut government expenditure and save billions of rands, the size of the Cabinet had to be reduced drastically, a tax expert from PricewaterhouseCoopers said on Tuesday. "To really make a dent in terms of government expenditure, you are going to [have to] see a reduction in the size of the... 

Envisioning and co-designing a sustainable future for African cities

16th November 2015 It was with the powerful phrase in mind: “What if the only way to predict the future is to design it,” that Jeff Robinson, Aurecon’s Sustainable Buildings Group Leader, presented at the Green Building Council South Africa’s annual convention as one of the event’s innovation speakers. Envisaging... 

Watertec Africa: Connecting the World of Water

8th April 2015 Infrastructure development and expansion in Africa’s fastest growing economies lags far behind the growth rate of populations in those countries, particularly the middle class, which is expected to grow to more than half a billion people in 2030.  Water supply is probably the most important – and... 

Watertec Africa: Connecting the World of Water

7th April 2015 Infrastructure development and expansion in Africa’s fastest growing economies lags far behind the growth rate of populations in those countries, particularlythe middle class, which is expected to grow to more than half a billion people in 2030.Water supply is probably the most important – and... 

Corruption scandal keeps growing for Brazilian oil giant Petrobras

By: Simon Rees     1st April 2015 Putting the ‘B’ in BRICS, the group of five major emerging national economies of Brazil, Russia, India, China and South Africa, it seemed as if Brazil was finally fulfilling its destiny to become South America’s global powerhouse in the latter half of the 2000s. As an added fillip, vast offshore... 

Class action to proceed against Baja Mining

By: Henry Lazenby     1st April 2015 London, Ontario law firm Harrison Pensa is proceeding with a class action under the Class Proceedings Act, 1992, against Baja Mining Corp, certain of its former directors and officers and the company's auditor, PwC. The action alleged that from November 1, 2010, to April 23. 2012, the defendants... 

KIOCL prodded to form alliances to participate in iron-ore auctions

By: Ajoy K Das     31st March 2015 India’s Steel Ministry has proposed that KIOCL, formerly Kudremukh Iron Ore Company Limited, should ally with other government-owned mineral and metal companies to bid for iron-ore resources. According to an official in the Steel Ministry, having been unsuccessful in securing captive iron-ore... 

AfriMold Acquisition Boosts INDUTEC Expo

10th March 2015 Africa’s leading exhibitions company, Exhibition Management Services, has acquired the well-established AfriMold exhibition brand, which becomes a component show of the comprehensive South African Industry and Technology Fair . The 12-in-1 INDUTEC event is the logical co-location of several... 

Productivity efforts fail to flow through to midtier bottom line

By: Esmarie Iannucci     25th November 2014 A new study by advisory firm PwC has revealed that despite the Australian mining industry’s efforts to boost productivity, there has been little impact on the bottom line of midtier miners. In its eighth yearly analysis of the 50 biggest Australian mining companies with a market capitalisation... 

Oil and gas Australia’s highest value-add industry – report  

By: Esmarie Iannucci     13th November 2014 A new report by PwC has identified the Australian oil and gas sector as one of the country’s highest value-adding industries. The report, commissioned by the Australian Petroleum Production & Exploration Association (Appea), revealed that for every dollar of production, the oil and gas sector... 

India proposes grand merger of mining and steel companies

By: Ajoy K Das     15th October 2014 Indian steel producer Rashtriya Ispat Nigam Limited (RINL) has thrown its hat in the ring for a grand merger with the country’s largest iron-ore miner, NMDC Limited. The Indian government was already working on a proposal to merge KIOCL, an iron-ore pellet producer, with NMDC, and adding RINL... 

Appointment Of Executive Director And Chief Financial Officer

29th September 2014 Sasol appointed Bongani Nqwababa as executive director and Chief Financial Officer of Sasol with effect from 1 March 2015. Nqwababa has been an independent non-executive director and a member of Sasol’s Audit Committee since 5 December 2013. He has been the Finance Director of Anglo American... 

Indian government proposes merger of KIOCL and NMDC 

By: Ajoy K Das     10th September 2014 To bail out ailing iron-ore miner KIOCL Limited (formerly Kudremukh Iron Ore Company Limited) the Indian government is considering merging it with NMDC Limited, the country’s largest iron-ore miner. KIOCL, which operated an iron-ore pelletisation plant and a blast furnace, had been under... 

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