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Musina Intermodal Terminal to improve cross-border trade

By: Schalk Burger     Updated 5 hours ago The Musina Intermodal Terminal (MIT), launched on Monday, is set to reduce the cost of cross-border trade, especially for bulk commodities, on the North-South trade corridor. The terminal, about 3 km outside Musina and about 13 km from the Beitbridge border post, will serve to move commodities,... 

Musina Intermodal Terminal to improve cross-border trade
Trade and Industry Minister Dr Rob Davies inspecting the Musina Intermodal Terminal at the opening on Monday

‘Significant implications’ for design of African power markets as renewables prices fall

By: Terence Creamer     26th June 2017 Recent renewable energy price reductions, together with sub-Saharan Africa’s (SSA’s) formidable solar and wind resources, have made solar and wind technologies the cheapest sources of power in several countries, which carries significant implications, a newly published academic paper argues, for... 

‘Significant implications’ for design of African power markets as renewables prices fall

Premium market in for another tough year; Audi’s first EV coming to SA

By: Irma Venter     26th June 2017 The South African new premium car market will this year probably decline by another 7% to 15%, to between 55 000 and 60 000 units, down from the roughly 65 000 units recorded last year. This follows a 20% drop in the domestic new premium car market in 2016, says Audi South Africa (SA) head Trevor... 

Premium market in for another tough year; Audi’s first EV coming to SA
Trevor Hill

Two fire control companies admit to cartel behaviour, agree to pay fines

By: Anine Kilian     26th June 2017 Two fire control and protection systems companies that had been referred to the Competition Tribunal for prosecution have admitted to engaging in cartel behaviour and will pay penalties. The two companies, Fireco Gauteng and Afrion, have admitted to engaging in price fixing, market division and... 

Kaap Agri lists on JSE

By: Anine Kilian     26th June 2017 Agricultural retailer Kaap Agri has listed on the JSE’s main board. “Listing on the JSE helps make Kaap Agri visible to a wider investor audience, which will draw in additional liquidity. The listing will also provide a platform for Kaap Agri to use its script for accretive merger and acquisition... 

Executive pay under scrutiny in Deloitte report

By: Anine Kilian     26th June 2017 With the growing inequality between organisations’ top brass and their general workforce under intense scrutiny, consulting and advisory firm Deloitte has found that increases to CEOs’ guaranteed pay over the last five increase periods have exceeded inflation by a considerable margin,  with... 

Greenhouse tightening as govt imposes Paris agreement – Exxaro

By: Martin Creamer     26th June 2017 The legislative changes around emission of greenhouse gases is becoming more onerous as the South African government implements the Paris Agreement, diversified black-owned resources group Exxaro said on Monday, when the coal-mining major announced that “good progress” had been made finalising... 

Greenhouse tightening as govt imposes Paris agreement – Exxaro
Photo by Duane Daws
Exxaro CEO Mxolisi Mgojo

Finance platforms available to SMMEs, entrepreneurs need to take a more involved approach

By: Natasha Odendaal     26th June 2017 It is not a lack of or access to development financing in South Africa that is holding back small, medium-sized and microenterprises (SMMEs), but rather entrepreneurs’ understanding of and approach toward accessing financing, a panel of speakers told delegates at the Small Business Indaba on... 

Number of South African SMMEs growing

By: Natasha Odendaal     26th June 2017 As an emerging country boasting more than 5.6-million small, medium-sized and microenterprises (SMMEs), South Africa needs to find ways to increase the contribution of these game changers to the nation’s economic structure. While there is a lack of reliable data available to help government... 

Fashion holds significant opportunity for Africa’s small businesses

By: Natasha Odendaal     26th June 2017 Leveraging Africa’s textiles and clothing industry, interspersed with the fashion industry, the African Development Bank’s (AfDB’s) new Fashionomics platform has the potential to create more jobs, stimulate the development of small businesses and generate millions in economic contributions over... 

NAMC appoints new board members

By: Anine Kilian     26th June 2017 Agriculture, Forestry and Fisheries Minster Senzeni Zokwana has appointed ten new members to the National Agricultural Marketing Council (NAMC). The new NAMC board includes agribusiness specialists and entrepreneurs Sindile Faku, Fezeka Mkile, Happy Mohane, Boikanyo Mokgatle, Nonie Mokose, Diale... 

South Africa imposes countrywide ban of sale of live hens to contain avian flu

By: Reuters     26th June 2017 South Africa has placed a general ban on the sale of live hens throughout the country in a bid to control an outbreak of highly contagious H5N8 bird flu, but no humans have been affected, the government said on Monday. Exports of processed poultry products, live chickens and fresh produce... 

Western Cape dam levels recover, but only slightly

By: African News Agency      26th June 2017 Dam levels in the Western Cape have seen a slight increase, Western Cape Local Government, Environmental Affairs and Development Planning MEC Anton Bredell said on Monday. Dam levels have increase to 22.8 percent, which is still far off the dam levels of 35.4 percent this time last year. 

Western Cape dam levels recover, but only slightly

Europe will retaliate if hit by US steel controls – EU trade chief

By: Reuters     26th June 2017 The European Union would retaliate if European steelmakers suffered collateral damage from import restrictions the administration of US President Donald Trump is considering, EU trade chief Cecilia Malmstrom said on Monday. A US investigation into whether foreign-made steel imports pose a rise to... 

Japanese airbag maker Takata files for bankruptcy, gets US sponsor

By: Reuters     26th June 2017 Japan's Takata Corp, the firm at the centre of the auto industry's biggest ever product recall, filed for bankruptcy protection in the US and Japan, and said it would be bought for $1.6-billion by US-based Key Safety Systems. In the biggest bankruptcy of a Japanese manufacturer, Takata faces tens... 

China steel prices rise as govt crackdown offsets slow demand

By: Reuters     26th June 2017 China's steel prices rose on Monday, regaining some lost ground from last week, as investors bet on tighter supplies from government-enforced cutbacks, offsetting concerns about slow demand and rising inventories in the world's top steelmaker. The crackdown on low-end steel production has been in... 

Workers at South Africa's Illovo sugar farms to strike over pay

By: Reuters     26th June 2017 Around 1 000 workers at sugar producer Illovo are set to go on strike over wages and other benefits after talks with employers broke down, the trade union representing the staff said on Sunday. "The Food and Allied Workers Union and employers from eight Illovo farms in Kwa-Zulu Natal province... 

National Treasury undecided on whether to challenge mooted change to SARB's mandate

By: Reuters     26th June 2017 South Africa's National Treasury has yet to decide whether it will challenge a recommendation by an antigraft watchdog to change the central bank's mandate, a proposal that rocked markets, the deputy finance minister said on Monday. Asked if Treasury thinks the public protector went beyond her... 

National Treasury undecided on whether to challenge mooted change to SARB's mandate
Photo by Bloomberg
Deputy Finance Minister Sfiso Buthelezi

Eskom refuses to provide information on Tegeta claim settlement – AfriBusiness 

By: Anine Kilian     23rd June 2017 Business rights watchdog AfriBusiness will consult with its legal team to determine the way forward after State-owned Eskom reportedly refused to provide it with information on the R2-billion fine imposed on Tegeta Resources’ Optimum coal mine. Following a period of arbitration, Eskom and Tegeta... 

Legislative framework for SOEs inadequate – Maswanganyi

By: Anine Kilian     23rd June 2017 South Africa’s transport industry is not immune to the challenges faced by State-owned enterprises (SOEs), according to Transport Minister Joe Maswanganyi, who told a media briefing on Friday that the legislative framework for SOEs in South Africa was inadequate, conflicting and duplicitous.... 

Brics Environment Ministers adopt sustainability initiative

By: Megan van Wyngaardt     23rd June 2017 The Brazil, Russia, India, China and South Africa (Brics) member countries’ Environment Ministers on Friday adopted the Partnership for Urban Environmental Sustainability Initiative (Puesi), which identifies water and air pollution prevention measures. The initiative further sets out to improve... 

If Koko returns, it won’t be as acting CEO, Brown avers, as she unveils interim board

By: Terence Creamer     23rd June 2017 Public Enterprises Minister Lynne Brown has called on the new interim leadership of embattled power utility Eskom to give priority attention to addressing the management of contracts, conflicts of interest and the quality of coal being supplied to its power stations. Speaking following the Eskom... 

If Koko returns, it won’t be as acting CEO, Brown avers, as she unveils interim board
Photo by Duane Daws
Zethembe Khoza, Lynne Brown, Ben Martins and Johnny Dladla

Mining Charter violates shareholder rights – Hogan Lovells

By: Martin Creamer     23rd June 2017 Mining Charter Three’s arbitrary increase of empowerment shareholding to 30% violates the property rights of shareholders, and the new charter’s requirement to pay 1% of yearly turnover is not expected to survive challenges under the Companies Act and the Constitution. Property rights under the... 

Mining Charter violates shareholder rights – Hogan Lovells
Hogan Lovells partner Wessel Badenhorst

Global atomic agency selects South African for key regulatory post

By: Keith Campbell     23rd June 2017 South Africa’s National Nuclear Regulator (NNR) CEO Dr Bismark Tyobeka has been appointed chairperson of the Regulatory Cooperation Forum (RCF) of the International Atomic Energy Agency (IAEA), the NNR announced on Friday. The appointment was decided at the annual RCF Steering Committee meeting... 

Global atomic agency selects South African for key regulatory post
Photo by Duane Daws/Creamer Media
Dr Bismark Tyobeka

MEIBC appoints subcommittee in attempt to resolve metals, engineering wage negotiation deadlock

By: Megan van Wyngaardt     23rd June 2017 The Metal and Engineering Industries Bargaining Council’s management committee has agreed to appoint a subcommittee to attempt resolving the disputes declared by employers and trade unions in the metals and engineering sector. Negotiations to conclude a wage agreement and an agreement on... 

Audi SA third carmaker to halt detailed sales reporting

By: Irma Venter     23rd June 2017 New CEO at Audi South Africa (Audi SA), Trevor Hill, says the German premium brand will, by the end of July, stop providing detailed new-vehicle sales numbers to the Department of Trade and Industry (DTI). This announcement follows in the footsteps of Mercedes Benz South Africa (MBSA) and BMW... 

Audi SA third carmaker to halt detailed sales reporting

Ethos Capital reports increase in net asset value

By: Megan van Wyngaardt     23rd June 2017 A return on a temporary investment and an Ethos Mid-Market Fund I (MMF I) equalisation payment has seen JSE-listed holdings company Ethos Capital’s underlying net asset value (NAV) increase to R10.22 a share as at May 31.  The Ethos MMF I concluded its second close towards the end of May, and is... 

Ford recalls 15 600 cars in South Africa over fire risk

By: Reuters     23rd June 2017 Ford Motor Company is recalling nearly 16 000 Ikon and Figo models in South Africa due to a potential fire risk, it said on Friday. The models were built between 2004 and 2012 in India, Ford said in a statement. 

Five directors step down in Group Five board shake-up 

By: Natasha Odendaal     23rd June 2017 As construction giant Group Five officially issues a notice of a planned extraordinary general meeting (EGM) on July 24, to reconstitute the board, five directors are set to step down. Effective July 24, independent nonexecutive directors Vincent Rague, Willem Louw and Justin Chinyanta, along... 

Global aviation industry increasing focus on cyber threats

By: Keith Campbell     23rd June 2017 The global aviation industry is increasingly focusing on cybersecurity. “Cybersecurity … has become a  major concern,” highlighted International Air Transport Association (Iata) regional VP: Africa and the Middle East Muhammad Ali Albakri at a recent media briefing at OR Tambo International... 

Global aviation industry increasing focus on cyber threats
Photo by Duane Daws/Creamer Media
Cybersecurity is a major concern for the global aviation industry

High Commissioner ‘seized’ with avoiding post-Brexit trade interruption with South Africa

By: Terence Creamer     23rd June 2017 British High Commissioner to South Africa Nigel Casey says he is currently “very seized” with ensuring that measures are put in place “timeously” to guarantee no interruption in the trade relationship between the UK and South Africa when Britain leaves the European Union (EU) on March 29, 2019.... 

High Commissioner ‘seized’ with avoiding post-Brexit trade interruption with South Africa
High Commissioner to South Africa Nigel Casey

PwC Tower receives commendation in Fulton Awards

By: Megan van Wyngaardt     23rd June 2017 The PwC Tower, in Midrand, which is nearing completion, has received a commendation in the buildings greater than three storeys category at the 2017 biennial Fulton Awards, hosted by the Concrete Society of South Africa. The PwC Tower is the twenty-fourth tallest twisted building in the world and... 

Highly pathogenic avian influenza isolated on South African farm

By: Natasha Odendaal     23rd June 2017 A farm near Villiers is being quarantined and some 28 000 birds are being culled after a highly pathogenic avian influenza of the H5N8 type – the first in South Africa – was found on the Vaal river property. The Mpumalanga Veterinary Authority is on site assisting with quarantine implementation,... 

Parliament opposes calls to change Reserve Bank mandate

By: Reuters     23rd June 2017 The South African Parliament will launch a court challenge against an anti-graft watchdog's recommendation of constitutional changes to alter the mandate of the central bank, it said. The legislative assembly joined the central bank and lender Barclays Africa in seeking a court review of Public... 

Parliament opposes calls to change Reserve Bank mandate

‘Stifling legislation’ preventing SA drones industry from gaining altitude

By: Dylan Slater     23rd June 2017 Drones, or remotely piloted aircraft systems (RPAS), have the potential to benefit numerous industries and could have contributed billions of rands this year, had it not been for what a newly released report implies as the stifling legislative and regulatory environment for unmanned aerial... 

‘Stifling legislation’ preventing SA drones industry from gaining altitude

Engineering News iPhone and Android Apps available for free download

By: Creamer Media Reporter      23rd June 2017 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

Implats general meeting to vote on new share issue

By: Martin Creamer     22nd June 2017 Platinum mining and marketing company Impala Platinum (Implats) on Thursday announced details of an annual general meeting to approve the issuing of 175-million new shares. The Johannesburg Stock Exchange-listed company said shareholders would be convened on July 24 to vote on resolutions... 

JSE adopts racial diversity promotion policies

By: Megan van Wyngaardt     22nd June 2017 Following an amendment to its listing requirements, the Johannesburg Stock Exchange (JSE) now requires all its listed companies to have a policy in place, by June 1, 2018, to promote racial diversity at board level. The JSE initiated the proposed amendments to its listing requirements after the... 

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