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MEC Vadi frustrated with slow pace of BRT, aerotropolis developments

By: Irma Venter     Updated 24 minutes ago Gauteng Transport MEC Dr Ismail Vadi has expressed his concern with the slow pace of development of bus rapid transit (BRT) systems in Gauteng, as well as the delay in rolling out the Aerotropolis project, in Ekurhuleni. Speaking at an Intelligent Transport Systems South Africa (ITSSA) forum in... 

MEC Vadi frustrated with slow pace of BRT, aerotropolis developments
Photo by Duane Daws
Dr Ismail Vadi

General Motors rebuffs allegations of acting in bad faith

By: African News Agency      Updated 1 hour 50 minutes ago General Motors (GM) on Wednesday rebuffed allegations that it had acted unilaterally without consulting trade unions about its disinvestment from South Africa and the resulting imminent retrenchments. This comes after GM announced last week that it was disinvesting from South Africa and that it... 

Drought already cost Western Cape grape farmers R500m – MEC

By: News24Wire      Updated 2 hours 1 minute ago Western Cape Agriculture MEC Alan Winde has said the ongoing drought in the province will cost grape producers an estimated R500-million. "We’ve seen a decline in the volume of wine grapes harvested, in part due to a lack of irrigation water," Winde said in a statement. 

Nelson Mandela Bay water crisis drops to disaster status

By: African News Agency      Updated 1 hour 47 minutes ago Nelson Mandela Bay was formally declared a water disaster by Executive Mayor Athol Trollip. Th mayor formally declared the metro a disaster area on Monday after major storage dams dropped to 38.5%. At a media briefing on Wednesday, Trollip said the city faced a severe drought and had been... 

Côte d'Ivoire to build 25 MW solar power station

By: Reuters     Updated 2 hours 23 minutes ago Côte d'Ivoire plans to build a 25 MW solar power plant in the north of the country as it seeks to bolster a strained power grid with renewables, a government spokesman said on Wednesday. The 23.6-billion CFA franc ($40-million) plant will be built by Korhogo Solaire, a subsidiary of Morocco's... 

Djibouti opens new port as part of $7bn/y free-trade zone plan

By: Reuters     Updated 2 hours 20 minutes ago Djibouti has formally opened one of four new ports designed to cement the tiny Horn of Africa nation's position as a continental hub, a statement from the ports authority said on Wednesday. Doraleh Multipurpose Port has been substantially upgraded as part of a Chinese-backed plan to establish... 

Ford’s R1m offer a slap in the face, says Reshall Jimmy’s family

By: African News Agency      Updated 1 hour 41 minutes ago The family of Reshall Jimmy, who died after his Ford Kuga burst into flames in December 2015, revealed on Thursday that they had felt deeply insulted by the company’s offer of another Ford vehicle, valued up to R1 million. Renisha Jimmy, Reshall’s sister, said outgoing Ford sub-Saharan Africa... 

AfriBusiness calls for abolishment of racially discriminatory procurement legislation

By: Megan van Wyngaardt     24th May 2017 AfriBusiness has launched an application against Finance Minister Malusi Gigaba to request the court to set the Preferential Procurement Policy Framework Act (PPPFA) regulations aside and declare it invalid. The business watchdog said on Wednesday that the PPPFA restrictions placed upon... 

Koeberg Unit 2 restarted after maintenance shutdown

By: Natasha Odendaal     24th May 2017 Koeberg nuclear power station’s Unit 2 has reconnected to State-owned power utility Eskom’s national electricity grid following a 36-day planned maintenance outage. The outage, dubbed Outage 222, as it is the twenty-second outage on Unit 2, has become the second shortest outage performed in the... 

Oliphant on two-day visit to Vedanta zinc operations

By: Martin Creamer     24th May 2017 South Africa’s Deputy Mineral Resources Minister Godfrey Oliphant on Wednesday ended a two-and-a-half day visit to Vedanta Zinc International’s Black Mountain complex in the Northern Cape where he was able to take a detailed look at the developmental, operational and social components of the... 

Oliphant on two-day visit to Vedanta zinc operations
Photo by Duane Daws
Mineral Resources Deputy Minister Godfrey Oliphant

Mgojo elected president as chamber heads for new beginning, new name, rebranding

By: Martin Creamer     24th May 2017 It is an organisation that is more relevant today than it has ever been in its 128-year history. Its role is so much more than mining. It operates in a changing environment and needs to contemplate its own new identity and name. 

Mgojo elected president as chamber heads for new beginning, new name, rebranding
Photo by Duane Daws
New Chamber of Mines of South Africa president Mxolisi Mgojo

Govt, industry agree on way forward for State-owned wireless network

By: Natasha Odendaal     24th May 2017 As the Department of Telecommunications and Postal Services (DTPS) spends the next few months developing the implementation plan for the recently tabled National Integrated Information and Communication Technology (ICT) Policy, Telecommunications Minister Dr Siyabonga Cwele on Wednesday assured... 

Vukile to actively pursue opportunity in Spain, sees through ‘momentous’ year

By: Mia Breytenbach     24th May 2017 JSE-listed real estate investment trust (Reit) Vukile, which on Wednesday posted a 7.1% year-on-year increase in its dividend to 156.75c a share for the year ended March 31, is actively evaluating opportunities in Spain to diversify its earnings stream and enhance its high-quality portfolio. CEO... 

Vukile to actively pursue opportunity in Spain, sees through ‘momentous’ year
Vukile Property Fund CEO Laurence Rapp

Denel contradicts Gigaba’s reported stance on VR Laser Asia

By: African News Agency      24th May 2017 Denel on Wednesday contradicted reports that Finance Minister Malusi Gigaba had ordered the State-owned arms manufacturer to dissolve its controversial joint venture with VR Laser Asia, a company linked to the Gupta business empire, and withdraw its litigation against National Treasury for... 

IDC approves R218m loan for development of Free State natural gas project 

By: Terence Creamer     24th May 2017 South Africa’s State-owned Industrial Development Corporation (IDC) has approved R218-million in loan finance to support the further development of a natural gas resource in the Free State through the creation of a 107-km pipeline network and associated gas processing facilities. The funding,... 

IDC approves R218m loan for development of Free State natural gas project
Photo by Duane Daws
Renergen CEO Stefano Marani

SACP denounces disinvesting General Motors acting in bad faith

By: African News Agency      24th May 2017 The South African Communist Party (SACP) came out in support of workers at General Motors South Africa (GMSA) and its supply chain on Wednesday, denouncing the disinvesting company for allegedly acting unilaterally and in bad faith towards the labour movement. “The SACP expresses its message of... 

AfriBusiness launches investigation into Transnet’s multiproduct pipeline

By: Megan van Wyngaardt     24th May 2017 Nonprofit business rights watchdog AfriBusiness will launch an application against Transnet regarding the new multi-product pipeline’s (NMPP’s) completion and implementation. The NMPP, which entailed the building of a pipeline for the transportation of various fuels from Durban, in KwaZulu-Natal,... 

NNR CEO elected president of nuclear safety convention review meeting

By: Megan van Wyngaardt     24th May 2017 National Nuclear Regulator (NNR) CEO Dr Bismark Tyobeka has been elected to serve as president of the sixth review meeting of the Joint Convention on the Safety of Spent Nuclear Fuel Management and Safety of Radioactive Waste Management. The joint convention was adopted on September 5, 1997, and... 

AMSA secures R4.5bn funding facility

By: Megan van Wyngaardt     24th May 2017 ArcelorMittal South Africa (AMSA) has secured a R4.5-billion revolving structured commodity trade finance facility, which will allow the steel manufacturer to finance its working capital as part of its balance sheet restructuring. CEO Wim de Klerk said in a statement that the company had... 

Adcorp posts significant loss owing to labour law changes

By: Megan van Wyngaardt     24th May 2017 Management consultancy company Adcorp’s shares fell as much as 8% on Wednesday morning to R10.80 a share, from Tuesday’s close of R11.74 a share, after it posted a headline loss a share of 27.9c for the year ended February 28. Its normalised earnings a share decreased by 76% year-on-year to... 

Adcorp posts significant loss owing to labour law changes

Numsa demands full disclosure of GM deal with Isuzu

By: African News Agency      24th May 2017 The National Union of Metalworkers of South Africa (Numsa) said on Wednesday that it was demanding full disclosure on General Motors' (GM's) deal with Isuzu. This comes after the Numsa officials met with GM employees on Tuesday in Port Elizabeth to discuss details of the company’s decision to... 

Master Plastics lists on AltX

By: Creamer Media Reporter      24th May 2017 Master Plastics, which was unbundled from JSE-listed Astrapak, has listed on the JSE’s AltX board in the Containers and Packaging sector.   Master Plastics represents a group of manufacturing operations that produce flexible packaging and knitted synthetic fabrics for the agricultural, retail and... 

Arrowhead delivers higher H1 dividend

By: Natasha Odendaal     24th May 2017 JSE-listed residential real estate investment trust Arrowhead on Wednesday declared a dividend of 43.24c a share for the six months ended March 31, 2017 – representing a 6.01% increase year-on-year. The Reit is “solidly” on track to meet its full-year dividend forecast. 

Vedanta hits production high spot at Black Mountain

By: Martin Creamer     24th May 2017 Diversified mining company Vedanta has achieved its highest quarterly production in four years at Black Mountain in South Africa, where the Gamsberg zinc project is on track to begin production towards the middle of next year. In addition, mobilisation on the Skorpion pit layback, in neighbouring... 

Vedanta hits production high spot at Black Mountain
Photo by Bloomberg
Vedanta chairperson Anil Agarwal

MPs fume as water dept fails to explain R1.5bn debt

By: News24Wire      24th May 2017 MPs across the political spectrum slammed the department of water and sanitation on Tuesday after its officials failed to explain how the department still owed contractors R1.5-billion. The department was due before the portfolio committee on Tuesday to discuss, among other things, outstanding... 

Maswanganyi vows bold State intervention to drive transformation

By: News24Wire      24th May 2017 Radical economic transformation was the theme of new Transport Minister Joe Maswanganyi's first budget and policy statement to the National Assembly. "Transport will play a leading role in radical economic transformation," Maswanganyi said on Tuesday. 

Westinghouse reaches deal for $800m US bankruptcy loan

By: Reuters     24th May 2017 Westinghouse Electric Co told a US court on Tuesday the nuclear power company had reached a deal to borrow $800-million after allaying creditors' concerns that the money would be flowing to non-bankrupt affiliates overseas. Westinghouse, a unit of Japan's Toshiba Corp, filed for bankruptcy in... 

Ethiopian wins vote to be first African head of WHO

By: Reuters     24th May 2017 Tedros Adhanom Ghebreyesus, a former health minister and foreign minister of Ethiopia, won an election on Tuesday to head the World Health Organisation (WHO), the first African to do so, edging out a veteran insider from Britain. A jubiliant Ethiopian official emerged from the closed-door meeting... 

Cape Town to spend more than R300m over 3 years to tackle drought

By: News24Wire      24th May 2017 City of Cape Town Mayor Patricia de Lille says the city plans to spend R315-million in the next three financial years to deal with the ongoing drought in the region. This came after Western Cape Premier Helen Zille declared the Western Cape a disaster zone last week to accelerate the deployment... 

Cape Town to spend more than R300m over 3 years to tackle drought

Group Five appoints Mosai as CEO

By: Megan van Wyngaardt     23rd May 2017 JSE-listed construction company Group Five has appointed Themba Mosai, who has been acting CEO of the group since March, as CEO, effective immediately. He takes over the reins from Eric Vemer, who moved on to new opportunities. 

DTI refuses to release list of black industrialist scheme beneficiaries for fear they will be ‘harassed’ 

By: Terence Creamer     23rd May 2017 Trade and Industry Minister Dr Rob Davies showcased four recipients of government’s flagship Black Industrialist programme (BIP) during his Budget Vote on Tuesday, but astonishingly refused to release the names of all 46 recipients of the non-refundable government grants and concessional loans.... 

DTI refuses to release list of black industrialist scheme beneficiaries for fear they will be ‘harassed’
Photo by Duane Daws
Trade and Industry Minister Dr Rob Davies

Eskom tests microgrid technology in Free State

By: Megan van Wyngaardt     23rd May 2017 The Eskom Research, Testing and Development (RT&D) unit is building a MicroGrid technology demonstration plant in a rural unelectrified village, near Ficksburg, in the Free State. “This project is a demonstration of next-horizon technology that supports Eskom’s future strategic objectives, as... 

ANC dismisses Zuma removal report as 'fabrication'

By: Reuters     23rd May 2017 South Africa's ruling African National Congress (ANC) dismissed a media report on Tuesday that President Jacob Zuma's removal would be discussed at a key party meeting this weekend as untrue. Opposition to Zuma inside the ANC and from opposition parties and civil society groups has swelled since... 

ANC dismisses Zuma removal report as 'fabrication'
Photo by Duane Daws
President Jacob Zuma

Gigaba punts financial sector reform

By: African News Agency      23rd May 2017 Finance Minister Malusi Gigaba on Tuesday said National Treasury would support parliamentary processes aimed at regulating the South African financial sector to make the industry inclusive. “The financial sector plays a critical role in our country, but this must be enhanced to achieve the... 

Solidarity, Hospersa worried about proposed bail-out plans for SAA

By: Megan van Wyngaardt     23rd May 2017 Trade union Solidarity is demanding answers about whether the Government Employees Pension Fund (GEPF) is considering recapitalising “sinking ship” South African Airways (SAA) through the Public Investment Corporation (PIC), as the union’s members have a direct interest in the proper management... 

Solidarity, Hospersa worried about proposed bail-out plans for SAA

Global steel production rises 5% y/y in April

By: Creamer Media Reporter      23rd May 2017 Global steel production, as reported by the 67 member countries of the World Steel Association (worldsteel), rose by 5% year-on-year to 142.1-million tonnes in April. China’s steel production increased by 4.9% to 72.8-million tonnes, while Japan’s output rose 3% year-on-year to 8.8-million tonnes. 

Influx of job seekers to Gauteng threatens economic momentum

By: Megan van Wyngaardt     23rd May 2017 Although it has made “remarkable progress” in creating jobs over the mid-term, between May 2014 and November 2016, the Gauteng provincial government (GPG) still faced a rapid increase in the economically active population owing to migration, Premier David Makhura said in his Midterm Report on... 

Rand firms on rumours that ANC to discuss Zuma's removal

By: Reuters     23rd May 2017 South Africa's rand firmed more than 1.5 percent against the US dollar on Tuesday on rumours that the African National Congress (ANC) will discuss the removal of President Jacob Zuma at a major party meeting. An ANC spokesperson said the rumours were a "complete fabrication". 

Rand firms on rumours that ANC to discuss Zuma's removal
President Jacob Zuma

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