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Business body urges ANC NEC to pressurise Zuma to set up State capture inquiry

By: Terence Creamer     Updated 3 hours ago Business Leadership South Africa (BLSA) has added its voice to growing calls for the establishment of an independent judicial commission of inquiry into “State capture”, which it says is necessary to restore confidence in the economy and the future of the country. The big business body has also... 

Business body urges ANC NEC to pressurise Zuma to set up State capture inquiry
Photo by Duane Daws
President Jacob Zuma

I was under the impression that Molefe had resigned, Brown reveals

     Updated 1 hour 59 minutes ago When Eskom’s Board approached me to inform me of its decision to bring Mr Molefe back, I said I would support it on the proviso that it was legal. I also made this point repeatedly when addressing media on the matter, though – curiously – none of them thought it worthy of reporting. 

I was under the impression that Molefe had resigned, Brown reveals
Photo by Duane Daws
Public Enterprises Minister Lynne Brown

Brown drops opposition to legal challenge to Molefe’s reappointment

By: African News Agency      Updated 2 hours 23 minutes ago Public Enterprises Minister Lynne Brown has withdrawn her opposition to the court application for the reappointment of Brian Molefe as CEO of Eskom be set aside. “I will abide by the decision of the court,” Brown told Parliament’s portfolio committee on public enterprises on Tuesday morning. 

Brown drops opposition to legal challenge to Molefe’s reappointment
Photo by Duane Daws
Public Enterprises Minister Lynne Brown

Gordhan lays into Eskom board over Molefe

By: African News Agency      Updated 21 minutes ago Former Finance Minister Pravin Gordhan on Tuesday called for the Eskom board to be fired and a full investigation into not only Brian Molefe’s return to the power utility, but his actions in his previous job at Transnet. Gordhan told Parliament’s portfolio committee on public enterprises, of... 

Gordhan lays into Eskom board over Molefe
Photo by Duane Daws
Former Finance Minister Pravin Gordhan

South Africans spoilt for choice when buying new vehicles

By: Irma Venter     Updated 52 minutes ago South African car buyers had access to 55 passenger car brands in 2016, with 3 458 model derivatives to choose from, says National Association of Automobile Manufacturers of South Africa (Naamsa) executive manager Dr Norman Lamprecht. “This afforded car buyers the widest choice to market-size... 

South Africans spoilt for choice when buying new vehicles

Rhodes Food attributes strong interim results to organic growth

By: Megan van Wyngaardt     Updated 1 hour 9 minutes ago JSE-listed Rhodes Food on Tuesday posted a 14.6% year-on-year increase in net profit to R125-million for the six months ended April 2, while headline earnings rose 15.9% to R126-million. The food producer attributed the growth to sustained strong organic growth in the regional segment, with fresh... 

Sasol says maintains output after refinery blast

By: Reuters     Updated 3 hours ago South African petrochemicals group Sasol said on Tuesday it had enough oil reserves to meet market requirements following an explosion at its 108 000 bbl/d Natref refinery on Monday. The blast at the country's only inland refinery, a venture between Sasol and a South African unit of France's... 

Cape Town water usage must come down by 100 million litres - city

By: News24Wire      Updated 4 hours ago Water use in Cape Town must be brought down by 100 million litres immediately, the City of Cape Town said in a statement on Monday. “Dam storage levels are now at 20,7%, which is 0,7% down from a week ago. With the last 10% of a dam’s water mostly not being usable, dam levels are effectively at... 

'Massive' load-shedding looms in Zim as Zesa fails to settle $80m debt to Eskom

By: Reuters     Updated 1 hour 40 minutes ago "Massive" load-shedding could begin as early as next week in Zimbabwe - because the cash-strapped authorities still haven't settled an $80-million debt to Eskom, the Herald reports. The State-run Zimbabwe Electricity Supply Authority (Zesa) has been unable to keep up with a payment plan agreed... 

Glencore predicts Opec insulated from electric vehicle impact

By: Reuters     Updated 4 hours ago Opec nations that deliver some of the lowest cost production will be relatively insulated from an early peak in oil demand caused by any faster-than-expected roll-out of electric vehicles, Glencore's chairman said on Monday. Members of the Organization of the Petroleum Exporting Countries meet... 

Glencore predicts Opec insulated from electric vehicle impact
Glencore chairperson Tony Hayward

South Africa, Namibia collaborate on science statistics

By: Megan van Wyngaardt     22nd May 2017 South Africa’s Human Sciences Research Council’s Centre for Science, Technology and Innovation Indicators (CeSTII) and Namibia’s National Commission on Research, Science and Technology will collaborate on the production of national scientific and innovation statistics, which enables the countries... 

Tribunal fines Giuricich Coastal Projects R900 000 for cover pricing

By: Anine Kilian     22nd May 2017 The Competition Tribunal on Monday issued an order imposing an administrative penalty of R900 000 on construction company Giuricich Coastal Projects for cover pricing in 2008. The Competition Commission said Mondi had invited three construction firms – Giuricich, Grinaker and Stefanutti Stocks –... 

Builders Warehouse launches its first store featuring renewable energy

By: Anine Kilian     22nd May 2017 The North Riding-based Builders Warehouse, which forms part of the Builders Warehouse chain of stores owned by management company Massmart, has installed a 126 kW solar photovoltaic (PV) plant, which comprises 400 roof-mounted polycrystalline PV panels. The plant will provide 70% of the store’s... 

Western Cape declared disaster area to repriotise funding

By: Megan van Wyngaardt     22nd May 2017 The Western Cape was on Monday declared a disaster area, with local government implementing drastic interventions to relieve the distressing water shortage in the province. This includes the drilling of boreholes at hospitals, starting in the metro, and followed by schools in high-risk water... 

BBC, Busa end participation partnership in Nedlac after impasse

By: Natasha Odendaal     22nd May 2017 The Black Business Council (BBC) and Business Unity South Africa (Busa) have walked away from a long-standing partnership after a BBC delegation was kicked out of a National Economic Development and Labour Council (Nedlac) Infrastructure Committee meeting two weeks ago by a Busa delegation. The... 

BBC, Busa end participation partnership in Nedlac after impasse

Entrepreneurs key to unlocking continent’s economy – AfDB report

By: Megan van Wyngaardt     22nd May 2017 With the continent continuing to face sluggish growth, African governments need to integrate entrepreneurship more fully into their industrialisation strategies, the African Development Bank’s (AfDB’s) ‘African Economic Outlook 2017’ suggests. Last year, Africa’s economic growth slowed to 2.2%... 

Aveng Grinaker-LTA nets Heineken brewery expansion contract

By: Creamer Media Reporter      22nd May 2017 Heineken South Africa has awarded Aveng Grinaker-LTA’s building division a two-phase contract for Project Harvest at the Sedibeng Brewery, in Midvaal, Gauteng. The project includes the expansion of the cider production facilities through the addition of new cider base tanks (CBTs) and the... 

Pioneer Foods posts lower earnings as external factors weigh in

By: Megan van Wyngaardt     22nd May 2017 JSE-listed Pioneer Foods on Monday posted a 56% decrease in headline earnings, to R454-million for the six months ended March 31, owing to a “confluence of various inhibitors”, which contributed to a material decline in its profitability. The company noted that maize had been the most significant... 

Opec heads towards supply cut extension as Saudi signals most on board

By: Reuters     22nd May 2017 Opec and other oil producers are on course to agree an extension of supply cuts at a meeting on Thursday, with Saudi Arabia saying most participants are on board with the plan to rein in a global supply glut. Saudi Arabia's energy minister said on Sunday that extending the supply cuts by a... 

Govt officials to receive training on special economic zones in China

By: African News Agency      22nd May 2017 A group of 34 Special Economic Zones (SEZs) practitioners and supporting sector specialists from the trade and industry department (dti), provincial departments, and agencies responsible for implementation of the SEZ programme leave for Tianjin in China on Monday to attend the 4th capacity... 

Govt officials to receive training on special economic zones in China

LafargeHolcim hires Sika boss as next CEO

By: Reuters     22nd May 2017 LafargeHolcim has hired Sika boss Jan Jenisch to take over as CE at the Swiss-French building materials giant, whose previous CEO quit after the company made payments to armed groups in Syria. Jenisch, 50, has been the CEO of adhesives maker Sika since January 2012. Paul Schuler, Sika's regional... 

Hudaco acquires Dished End’s trading assets

By: Anine Kilian     22nd May 2017 JSE-listed Hudaco has acquired the trading assets and liabilities of Dished End, which manufactures the end caps for pressure vessels. Hudaco will pay an initial R36-million, with the total consideration, up to a maximum of R79-million, dependent on the average profits over a three year earn-out... 

Long4Life appoints Hedderwick COO

By: Natasha Odendaal     22nd May 2017 JSE-listed Long4Life has appointed Kevin Hedderwick COO and executive director, effective immediately. Hedderwick, who was previously CEO of Famous Brands, joins several other business stalwarts at Brian Joffe’s newly established and recently listed lifestyle investment company. 

GM’s exit from SA likely to see the loss of 589 jobs 

By: Irma Venter     22nd May 2017 The decision by General Motors (GM) to pull out of South Africa will, most likely, cut 589 jobs at GM South Africa (GMSA) as it restructures to form Isuzu Motors South Africa (IMSA), says GMSA. GMSA employs around 1 800 people. 

GM’s exit from SA likely to see the loss of 589 jobs

Manufacturing Circle, Gauteng Premier to cooperate on reviving the Vaal Triangle

By: Anine Kilian     22nd May 2017 The Manufacturing Circle will work with Gauteng Premier David Makhura on an action plan to revive the Vaal Triangle and arrest the decline of manufacturing in the region.    “The Vaal Triangle rejuvenation project is being driven the CEO Initiative, which Manufacturing Circle chairperson André de... 

Datatec confident of improvements after modernisation hits FY17 financial results

By: Natasha Odendaal     22nd May 2017 Dual-listed Datatec is confident of improving its performance as it enters the final stages of the modernisation programme of subsidiary Westcon-Comstor that had significantly dragged the group’s financial performance in the year ended February 28. Over the last few years, the information and... 

Adam retires as Niasa president

By: Creamer Media Reporter      22nd May 2017 The Nuclear Industry Association of South Africa (Niasa) will, in due course, announce a successor to nuclear physicist Dr Rob Adam, who retired last week as president. Adam, who served as Niasa president for the past decade, is currently SKA telescope project CEO and a past South African Nuclear... 

Natref refinery blast injures 11, some operations halted

By: Reuters     22nd May 2017 A blast on Monday at South Africa's Natref oil refinery injured 11 people and forced the shutdown of operations close to the 108 000 bbl/d facility but production at the main refinery continued, Sasol said. Sasol reported on its website that the explosion happened at about 07:45 at the country's... 

Natref refinery blast injures 11, some operations halted

DA asks AG to probe unnecessary R81m advance payment to Zuma benefactor

By: African News Agency      22nd May 2017 Water and Sanitation Minister Nomvula Mokonyane needs to explain why President Jacob Zuma’s close friend Philani Mavundla was allegedly irregularly paid an advance of tens of millions of rand, the Democratic Alliance (DA) said on Sunday. The DA would ask Auditor General (AG) Kimi Makwetu to... 

DA asks AG to probe unnecessary R81m advance payment to Zuma benefactor
Photo by Reuters
President Jacob Zuma

Parly inquiry into Eskom must include Duduzane Zuma’s ‘fake intelligence report’ – DA

By: African News Agency      22nd May 2017 The Democratic Alliance (DA) will ask Parliament’s chair of chairs Cedric Frolick to include an investigation into the most recent evidence of possible political interference in Eskom, this time by Duduzane Zuma, in the course of the inquiry the DA has requested. Just over a week ago, the DA... 

Parly inquiry into Eskom must include Duduzane Zuma’s ‘fake intelligence report’ – DA

Economic transformation must have real content and meaning – Ramaphosa

By: News24Wire      22nd May 2017 It is necessary to give real content and meaning to the imperative of radical economic transformation to achieve inclusive growth, Deputy President Cyril Ramaphosa said on Sunday. Delivering the Moses Kotane memorial lecture in Rustenburg, he said it was the transformation that should be radical,... 

Economic transformation must have real content and meaning – Ramaphosa
Photo by Reuters
Deputy President Cyril Ramaphosa

IPP Office to be incorporated into overhauled Central Energy Fund 

By: Terence Creamer     19th May 2017 South Africa’s highly respected Independent Power Producer (IPP) Office, which has overseen nearly R200-billion-worth of renewable-energy investment since 2011, is to be incorporated into the Central Energy Fund (CEF), which itself is to be overhauled. Energy Minister Mmamoloko Kubayi announced... 

IPP Office to be incorporated into overhauled Central Energy Fund
DoE director-general Thabane Zulu seconded to SFF as acting CEO

Huge expects double-digit FY earnings growth

By: Creamer Media Reporter      19th May 2017 JSE-listed Huge Group on Friday said it expects to report a double-digit rise in earnings for the year ended February 28. The group, which will release its results on May 31, expects earnings per share (EPS) before acquisition costs, to be 51% to 62% higher at between 28c and 30c apiece, compared... 

Eskom wants to keep lights on this winter 

By: News24Wire      19th May 2017 Eskom is promising to keep the lights on this winter, it said in a statement issued on Friday afternoon. It undertook to do this despite severe weather conditions that have already started to grip the country. 

 Eskom wants to keep lights on this winter

Tshwane focused on infrastructure expansion

By: Anine Kilian     19th May 2017 The Tshwane municipality has allocated R1.3-billion to maintain and repair infrastructure, which will be the backbone of Tshwane’s developmental agenda. Speaking at a post-budget breakfast media briefing, on Friday, Tshwane mayor Solly Msimanga stated that Tshwane’s industrial zones were the key... 

Pallinghurst share price leaps on value unlock outline

By: Martin Creamer     19th May 2017 The share price of mining investment fund Pallinghurst leapt in Johannesburg after the company outlined its plans to swop its investment fund shawl for a diversified miner’s mantle, unlock value through full absorption of its coloured gemstone associate and target a possible listing of the... 

Pallinghurst share price leaps on value unlock outline
Photo by Duane Daws
Arne Frandsen (left) and Brian Gilbertson at Pallinghurst's listing on the JSE ten years ago

Long-awaited national water master plan to see light in September 

By: Natasha Odendaal     19th May 2017 The first draft of a master plan aimed at “re-engineering the manner in which the water and sanitation business in South Africa is coordinated and guided” is expected to be tabled in September, more than a year after its intended completion of August 2016. The Department of Water and Sanitation... 

Long-awaited national water master plan to see light in September

Task team deliberating on renewables impasse to report ‘first week in June’

By: Terence Creamer     19th May 2017 A joint departmental task team set up to find solutions to the current impasse holding back the signing of power purchase agreements (PPAs) for 37 renewable-energy projects procured in 2015 will report back in the first week of June, Energy Minister Mmamoloko Kubayi reported on Friday. The task... 

 Task team deliberating on renewables impasse to report ‘first week in June’
Energy Minister Mmamoloko Kubay

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