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Economy

Absa PMI rises, but remains below 50-point mark amid persisting challenges
1st July 2024 By: Schalk Burger

The Absa Purchasing Managers’ Index (PMI) increased by 1.9 points to 45.7 points in June, from 43.8 in May, but remained below the 50-point mark. Following a strong start to the second quarter,... 


NTCSA starts trading
1st July 2024 By: Darren Parker

The National Transmission Company South Africa (NTCSA) has officially begun trading, establishing the NTCSA as a duly constituted separate, distinct and wholly owned subsidiary of State-owned... 


Separation of energy portfolio and Ramokgopa’s appointment praised amid rising energy-transition complexity
1st July 2024 By: Terence Creamer

The decision to establish a separate energy portfolio with the African National Congress’s Dr Kgosientsho Ramokgopa as Minister and the Democratic Alliance’s Samantha Graham as Deputy Minister has... 


Business welcomes finalisation of Cabinet, highlights focus areas for economic growth
1st July 2024 By: Tasneem Bulbulia

Business organisations have responded to President Cyril Ramaphosa’s announcement of a final agreement for a Government of National Unity (GNU) and the new Cabinet, with consensus that an... 


South Africa opposition makes debut in Ramaphosa’s unity Cabinet
30th June 2024 By: Bloomberg

South African President Cyril Ramaphosa announced his new Cabinet, allocating ministerial posts to opposition politicians while retaining close ally Enoch Godongwana as finance minister. The... 


Eskom to hit CO2 targets despite coal plant extension, CEO says
28th June 2024 By: Reuters

South Africa's state power company Eskom will meet its target to reduce carbon emissions by 71-million metric tons a year by the end of the decade, its new CEO said on Friday, despite scrapping... 


Hudaco’s interim performance hampered by suspended loadshedding
28th June 2024 By: Darren Parker

Diversified consumer and engineering products group Hudaco has faced a challenging start to the 2024 financial year, with the reduction in loadshedding negatively impacting on some of its... 


Dealmakers optimistic on global M&A prospects despite sluggish growth
28th June 2024 By: Reuters

Global mergers and acquisitions (M&A) activity grew at a sluggish pace in the second quarter, yet many dealmakers are upbeat, forecasting transactions will pick up in the second half of 2024.... 


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Budget

Global growth will not exceed pre-pandemic levels until 2026 at least – World Bank
11th June 2024

The World Bank expects the global economy to stabilise for the first time in three years, but at a level that is still weak by historical standards. In its latest ‘Global Economic Prospects’... 


Unctad outlines reforms to avoid impending global public debt crisis
5th June 2024

Global body UN Trade and Development (Unctad) has urged action to deal with the alarming surge of global debt and proposed reforms to international finance systems to safeguard “a prosperous future... 


South Africa avoids technical recession despite challenges – Deloitte
10th May 2024

With unemployment, loadshedding and a weak economy being front-line issues in the upcoming elections, the incoming administration must drive investment and reform to restart growth, build... 


Competition Policy

Tribunal approves Prax’s Natref stake buyout, with conditions
27th June 2024

The Competition Tribunal has approved the merger in which oil refining and logistics company Prax will acquire energy company TotalEnergies' interest in refinery National Petroleum Refiners of... 


Tribunal confirms settlement agreement in plant and equipment hire cartel case
12th June 2024

The Competition Tribunal has confirmed, as an order, a R480 000 administrative penalty imposed on plant and equipment hire company Hard Hat Equipment Hire as part of a settlement in a case in which... 


Tribunal orders Emfuleni municipality to provide documents to Cape Gate in excessive pricing matter
15th May 2024

The Competition Tribunal has ordered the Emfuleni local municipality to provide various documents to steel producer and electricity consumer Cape Gate, which alleges that the municipality... 


Labour

Coega achieves R1bn SMME procurement spend for 2023/24
31st May 2024

The Coega Development Corporation’s (CDC’s) Small, Medium-Sized and Microenterprises (SMME) Development Programme has achieved procurement spend of over R1-billion for the 2023/24 financial year.... 


Labour department, IDC launch round two of the Innovation Fund
27th May 2024

The Department of Employment and Labour, in partnership with the Industrial Development Corporation (IDC), has announced the launch of the second round of the National Pathway Management Network’s... 


Employment environment bleak, but there are opportunities for improvement
20th May 2024

The 2024 ‘UASA South African Employment Report’ and second UASA/Bureau of Market Research (BMR) Employment Index paints a bleak picture of the country’s employment situation; however, there are... 


Legislative Environment

Families petition Pan-African Parliament to secure release of two South Africans from Equatorial Guinea
24th June 2024

The families of two South African engineers – Frik Potgieter and Peter Huxham – who have been held in Equatorial Guinea since February 9, 2023, have on June 24, handed over a formal request to... 


Transnet to take disciplinary action against some TNPA employees
24th June 2024

State-owned Transnet announced at the weekend that law firm Bowmans had concluded its investigation into allegations of impropriety at Transnet National Ports Authority (TNPA). Transnet also... 


CoJ, City Power say High Court did not consider all evidence in Eskom case
21st June 2024

In response to a recent Johannesburg High Court order favouring State-owned utility Eskom in a payment dispute with the City of Johannesburg (CoJ) and City Power, the CoJ and City Power say the... 


Macro & Micro

New trade and industry leadership expected to use industrial policy levers to support key sectors
2nd July 2024

With industrial policy back in fashion in many economies, business and policy specialists expect new Trade, Industry and Competition Minister Parks Tau to prioritise measures to support key... 


Cesa welcomes Macpherson's appointment as Public Works Minister
1st July 2024

Industry organisation Consulting Engineers South Africa (Cesa) says it looks forward to working with new Public Works and Infrastructure Minister Dean Macpherson. “We trust [he] will be more... 


Absa PMI rises, but remains below 50-point mark amid persisting challenges
1st July 2024

The Absa Purchasing Managers’ Index (PMI) increased by 1.9 points to 45.7 points in June, from 43.8 in May, but remained below the 50-point mark. Following a strong start to the second quarter,... 


State Companies

The future of Operation Vulindlela
28th June 2024

Engineering News editor Terence Creamer discusses the issues tackled during Phase 1 of Operation Vulindlela and the successes achieved thus far; the likelihood of Operation Vulindlela continuing as... 


First phase of 1 GW SunCentral solar farm breaks ground
27th June 2024

Independent power producer SolarAfrica Energy has officially broken ground on its first utility-scale solar farm in the Northern Cape. Known as SunCentral, Phase 1 of this project will total about... 


Eskom reports arrest of copper cable thief at Matla
26th June 2024

State-owned power utility Eskom has apprehended a suspected copper cable thief at the Matla power station after security officers discovered the individual during routine search duties. The... 


Statistical Releases

Manufacturing production up 5.3% y/y in April
11th June 2024

South Africa’s manufacturing production increased by 5.3% year-on-year in April, Statistics South Africa (Stats SA) has reported. Stats SA Industry statistics director Nicolai Carson said on June... 


Lack of public transportation integration undermining service delivery
7th June 2024

A lack of proper integration with regard to urban public transportation systems has led to inefficiencies and duplications, with some routes and areas being overserved while others suffer from a... 


Persistently poor GDP growth most significant feature of South Africa’s economic performance
4th June 2024

South Africa’s continued disappointing economic growth remains the most significant feature of the country’s macroeconomic performance, North-West University Business School economist Professor... 


Tourism

South Africa scores 'moderately positive' global reputation rating, study finds  
22nd May 2024

Despite South Africa’s global infamy for corruption, rampant crime, poor service delivery, political instability and inequality, recent findings of a Global Reputation Study carried out by Brand... 


Western Cape ideally positioned to capitalise on growing adventure tourism, report posits
5th April 2024

The Western Cape is poised to emerge as a global hub for adventure tourism, a niche within the global tourism sector that is anticipated to be valued at $4.6-trillion by 2032, a recent report by... 


Wesgro launches new domestic tourism campaign
14th March 2024

Western Cape trade, investment and tourism promotion agency Wesgro has launched a new campaign to attract tourists to the province. Unlike other recent campaigns, this one, called ‘With Love from... 


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