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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... 

YES CEO Tasmia Ismail-Saville discusses the first hub opening and company involvement with the initiative. Camerawork and Editing: Nicholas Boyd.

SARB’s reduced economic growth forecast ‘troubling’ – Parsons

By: Marleny Arnoldi     20th July 2018 The announcement by the South African Reserve Bank’s (SARB’s) Monetary Policy Committee (MCP) that it has reduced its forecast for South Africa’s gross domestic product growth for this year sends a troubling message, says North-West University business school economist Professor Raymond Parsons.... 

Electricity interruptions impact on Sasol’s FY18 production performance

By: Marleny Arnoldi     Updated 5 hours ago Several unplanned electricity supply interruptions and two internal outages at its Secunda synfuels operations, resulted in lower production volumes for petrochemicals group Sasol for the financial year ended June 30. In a trading update published on Friday, the company said its earnings before... 

Public works to recover R1.2bn lost through lease irregularities and corruption

By: News24Wire      20th July 2018 While the Department of Public Works turns to the court for the recovery of around R1.2-billion lost to collusion, corruption and irregularities in leases, Minister of Public Works Thulas Nxesi is singing President Cyril Ramaphosa's praises. "We now have a leader, in President Cyril Ramaphosa,... 

Eskom blames illegal connections for Soweto power failures

By: African News Agency      Updated 4 hours ago Parts of Soweto have gone without electricity for several days, but Eskom has simply said there is nothing it can do because the power failures are caused by "illegal connections". Residents of Zola, Emndeni, Zondi, and Mofolo residents have taken to social media to vent their frustrations about... 

AfDB approves $250m risk participation agreement with ABSA

By: Creamer Media Reporter      Updated 3 hours ago The African Development Bank (AfDB), this week, approved an unfunded $250-million risk participation agreement (RPA) with ABSA Bank. This RPA, housed within the AfDB’s Trade Finance operations, will enhance African issuing banks’ ability to leverage trade financing through a multisectorial approach. 

Emira to start leasing The Bolton apartments in Rosebank from August

By: Marleny Arnoldi     Updated 5 hours ago JSE-listed real estate investment trust Emira Property Fund’s R200-million The Bolton apartment block, in Rosebank, will start welcoming its first residents in August. Emira converted an office property block formerly occupied by petrochemicals giant Sasol into a contemporary residential... 

Emira to start leasing The Bolton apartments in Rosebank from August
Emira Property Fund's apartment interior at The Bolton in Rosebank

Terrafugia flying car to hit market in 2019

By: Irma Venter     20th July 2018 Flying car manufacturer Terrafugia has announced that its first production vehicles will come to market in 2019. Newly added and/or improved features in the 2019 Transition production vehicle – a two-seater car and aircraft – will include updates to the interior, safety systems, motor and flight... 

Terrafugia flying car to hit market in 2019

Rival aerospace majors win orders and commitments for over 1 100 airliners at show

By: Rebecca Campbell     Updated 5 hours ago Global commercial aerospace giants Airbus and Boeing have each reported hundreds of orders for their airliners at this year’s Farnborough International Airshow, currently under way in the UK. (The trade days being from Monday to Friday, with Saturday and Sunday the public days.) Boeing announced... 

Rival aerospace majors win orders and commitments for over 1 100 airliners at show
Photo by Airbus
An Airbus A320neo (left) with an A220-300 (right, still in Bombardier colours)

FCA South Africa appoints new CFO, head of network development

By: Creamer Media Reporter      Updated 3 hours ago Fiat Chrysler Automobiles (FCA) South Africa has appointed Juan Wheeler CFO and Daniell Theron head of network development. He has served in various regions within Ford Motor Company for the last 20 years including South Africa, South East Asia and the Middle East. 

Trade war could knock 3% off global GDP – Bank of France study

By: Reuters     20th July 2018 An international trade war with wide-ranging tariff hikes could cut global gross domestic product by as much as three percent, according to a study by the French central bank on Thursday. The direct impact of a generalised 10 percentage point increase in import tariffs could alone knock 1% off... 

Engineering News iPhone and Android Apps available for free download

By: Creamer Media Reporter      20th July 2018 Creamer Media’s readers continue to be part of the mobile revolution.  Over 20% of Creamer Media’s online readers view the websites on their mobile devices. To cater for this growing mobile readership Creamer Media offers an Engineering News Online app for iPhone and Android users.  These apps... 

Engineering News iPhone and Android Apps available for free download

ANC not fulfilling people's expectations – Ramaphosa

By: Sashnee Moodley     Updated 4 hours ago African National Congress (ANC) President Cyril Ramaphosa called for self-correction in the party following what he said was a "dramatic decline in support" during the 2016 local government elections. Giving the opening address at the party’s thirteenth Gauteng provincial conference, in Pretoria,... 

ANC not fulfilling people's expectations – Ramaphosa
President Cyril Ramaphosa

High-level meeting to be held to decide on easing of Cape Town water restrictions

By: News24Wire      20th July 2018 The Department of Water and Sanitation is expected to hold a high-level meeting on Friday to assess whether the severe water restrictions in Cape Town and surrounding areas can be relaxed. Regional head of the department Rashid Khan said on Thursday that there had been requests from users of the... 

High-level meeting to be held to decide on easing of Cape Town water restrictions

Competition Bill includes ‘greater flexibility’ for large firms to collaborate

By: Terence Creamer     19th July 2018 The overarching objective of the Competition Amendment Bill is to foster a “new deal for economic transformation and inclusion”, but Economic Development Minister Ebrahim Patel also notes that the proposed legislation introduces greater flexibility for collaboration by large firms. Speaking at... 

Competition Bill includes ‘greater flexibility’ for large firms to collaborate
Photo by Dylan Slater
Economic Development Minister Ebrahim Patel

Stellenbosch Business School ranks top business school in S Africa

By: Marleny Arnoldi     19th July 2018 The University of Stellenbosch Business School (USB) has been ranked as the top business school in South Africa by Eduniversal – an international education rating agency based in Paris. The ranking is the result of voting by deans of business schools around the world, based on a list of... 

SMEC South Africa to help develop white oil storage terminal in Ethiopia

By: Marleny Arnoldi     19th July 2018 Consulting engineering firm SMEC South Africa, with support from SMEC International, has been appointed by Ethiopian Petroleum Supply Enterprise to develop a white oil products storage terminal at Port Dukem, in Ethiopia. The facility will be the biggest among the country’s depots at 240 000 m3.  

Growthpoint takes first Cape Town commercial property off the water grid

By: Natasha Odendaal     19th July 2018 The District building, in Woodstock, has become the first of Growthpoint Properties’ commercial properties in Cape Town to shift off the municipal water grid and become water net-positive. The property giant on Thursday said the 1 750 people using the multitenant office and retail building... 

Nxesi wants lifestyle audit done in all management at public works including himself to fight corruption

By: African News Agency      19th July 2018 Public Works Minister Thulas Nxesi on Thursday announced that he requested a lifestyle audit starting with himself and all management of the department after internal investigations revealed 16 000 suspicious transactions to the value of R2-billion. Nxesi was speaking in Pretoria on Thursday... 

 Nxesi wants lifestyle audit done in all management at public works including himself to fight corruption
Photo by Creamer Media
Public Works Minister

Varied policy frameworks constraining Africa’s development potential

By: Simone Liedtke     19th July 2018 Policy and regulatory frameworks across Africa remain varied and largely constrain the development potential of the continent, international law firm Pinsent Masons Africa partner Rob Morson says. Speaking at the PowerGen conference, in Sandton, on Thursday, he lamented that the current policy... 

Bridgestone South Africa’s manufacturing plant showcases rubber innovation

By: Marleny Arnoldi     19th July 2018 Tyre manufacturer Bridgestone South Africa on Wednesday hosted a media tour of its 186 027 m2 manufacturing facility in Brits, North West, to showcase how its technology has evolved from the 1950s to date. Bridgestone manufactures passenger radial, light truck radial, truck and bus radial, and... 

Bridgestone South Africa’s manufacturing plant showcases rubber innovation
Bridgestone manufacturing plant, in Brits

SARB keeps repo rate unchanged, downgrades growth projection

By: News24Wire      19th July 2018 The South African Reserve Bank's (SARB's) monetary policy committee has left the repo rate unchanged at 6.5% in a unanimous decision.  The announcement, made by the central bank's governor Lesetja Kganyago at a media briefing in Pretoria on Thursday afternoon, was in line with expectations of... 

SARB keeps repo rate unchanged, downgrades growth projection
Photo by Reuters
Reserve Bank governor Lesetja Kganyago

Sixth solar challenge sees champions return, raft of new entries from abroad

By: Irma Venter     19th July 2018 The 2018 Sasol Solar Challenge, set to take place from September 22 to September 29, will mark South Africa’s sixth solar car race. The eight-day event will see more than 20 teams depart from Pretoria and finish in Stellenbosch. The awards ceremony is scheduled to take place in Cape Town on... 

Sixth solar challenge sees champions return, raft of new entries from abroad

South Africa seeks to strike trade balance at Brics Summit

By: African News Agency      19th July 2018 South African government will be working to tackle the trade imbalance and also address complimentary trade between it and its Brics partners at the crucial upcoming Summit next week, officials said on Thursday.  Lerato Mataboge, deputy director-general at the Department of Trade and Industry... 

Stenprop sells Swiss properties

By: Creamer Media Reporter      19th July 2018 JSE- and LSE-listed Stenprop has completed the sale of two of its properties, Altendorf and Arlesheim, in Switzerland, as part of its strategy of positioning itself as a specialised UK multi-let industrial real estate investment trust. The two properties were sold to Helvetica Swiss Commercial. 

WBHO grows its UK presence

By: Creamer Media Reporter      19th July 2018 Wilson Bayly Holmes-Ovcon (WBHO) subsidiary WBHO UK has acquired a 60% stake in UK construction business Russells for £32.8-million, as well as a 31.7% stake in Russell Homes for £3.25-million. Russells provides design, installation and project management capabilities in the UK construction... 

WBHO grows its UK presence

AMSA’s shares rise on expectations of lower losses

By: Creamer Media Reporter      19th July 2018 ArcelorMittal South Africa’s (AMSA’s) share price on the JSE rose by more than 12% on Thursday morning as the company announced that it expects to report a 25% to 30% narrowing in its losses a share for the six months ended June 30. The company’s loss a share is expected to decrease from the 203c... 

MTN’s Van Coller takes the reins at EOH Holdings

By: Natasha Odendaal     19th July 2018 Telecommunications giant MTN digital services, data analytics and business development VP Stephen van Coller has resigned, effective August 31, to take the reins at JSE-listed EOH Holdings on September 1. Van Coller joins EOH as group CEO following the announcement of a strategy shake-up that... 

US-based Opic CEO visits S Africa, African countries to advance development

By: Marleny Arnoldi     19th July 2018 US Overseas Private Investment Corporation (Opic) president and CEO Ray Washburne this week visited South Africa and met with local banks to discuss investment opportunities in advancing development in the country and highlight Opic-supported projects. It is Washburne’s third stop on a... 

Mandela centenary commemorated with banknotes and R5 coin 

19th July 2018 To commemorate late Statesman Nelson Mandela’s centenary, the South African Reserve Bank has launched commemorative banknotes and a R5 coin into circulation, depicting the most significant occasions in Mandela’s life. Marleny Arnoldi attended the launch. 

Mandela centenary commemorated with banknotes and R5 coin

First African company announces science-based greenhouse gas target

By: African News Agency      19th July 2018 Emira Property Fund has become the first African and South African company to have a greenhouse gas emissions target approved by the Science Based Targets initiative (SBTi). The initiative is a collaboration between CDP, the United Nations Global Compact, World Resources Institute and the World... 

Kibo’s Mbeya special mining licence submissions in final stages

By: Marleny Arnoldi     19th July 2018 Following the submission of Aim- and AltX-listed Kibo Mining’s local content plan (LCP) and integrity pledge (IP) to the Mining Commission – a constituent of the Tanzania Ministry of Mines – within the next two weeks, the authority will be ready to consider Kibo’s application for a special mining... 

M&R awarded R4bn of projects in Australasia

By: Marleny Arnoldi     19th July 2018 JSE-listed engineering and construction group Murray & Roberts (M&R) has been awarded new projects to the value of R4-billion, to be delivered over the next two years. These awards include projects to be undertaken by M&R’s oil and gas platform in the metals and minerals market in Australasia,... 

Light rail line in Nigeria's capital opens to passengers

By: Reuters     19th July 2018 Nigeria has opened a new Chinese-built light railway network in the capital Abuja after 11 years of construction, a rare transport project in a nation where economic growth has been stymied for generations by a lack of infrastructure development. Passengers were permitted this week to ride the... 

Alphabet to deploy balloon Internet in Kenya in 2019

By: Reuters     19th July 2018 Alphabet's Loon said on Thursday it would deploy its system of balloons to beam high-speed Internet access with Telkom Kenya from next year to cover rural and suburban populations, marking its first commercial deal in Africa. Known as Project Loon, the technology was developed by Alphabet's X,... 

SA post office strike over

By: African News Agency      19th July 2018 The South African Post Office strike has been brought to a halt after trade unions reached an agreement regarding salary increase on Wednesday. The strike started on July 3. 

 SA post office strike over

Sappi to build xylitol, furfural production demo plant

By: Creamer Media Reporter      18th July 2018 Pulp and paper producer Sappi has decided to build a demonstration plant to further scale up its novel Xylex technology for the production of xylitol and furfural. The plant, which will become operational in early 2019, will be located adjacent to the existing sugars and lignin extraction plant... 

Battery storage to benefit businesses, municipalities

By: Simone Liedtke     18th July 2018 Battery storage will have a significant and firm impact on the uptake of renewable energy in South Africa, enabling users, whether in the retail or industrial space, to leverage some of the value that solar energy can create, says SOLA Future Energy energy storage services head Daniel Goldstuck.... 

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