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In a context of State capture, the ‘developmental-State project is almost dead’

By: Terence Creamer     Updated 1 hour 2 minutes ago In the context of State capture and corruption, former Deputy Finance Minister Mcebisi Jonas believes South Africa’s “developmental-State project is almost dead”, with resources being diverted away form dealing with the country’s serious unemployment crisis towards poorly governed State-owned... 

In a context of State capture, the ‘developmental-State project is almost dead’
Mcebisi Jonas

Electricity intensive firms to approach Nersa for new job-saving tariff deal

By: Terence Creamer     16th August 2017 The Energy Intensive Users Group (EIUG) will approach the National Energy Regulator of South Africa (Nersa) before the end of September with a proposal for structural changes to Eskom’s tariff for large power users by removing existing cross-subsidies to assist businesses whose future... 

Electricity intensive firms to approach Nersa for new job-saving tariff deal
EIUG chairperson Dr Tsakani Mthombeni

Manufacturing sector slows Q2 spending, Q3 outlook more promising

By: Natasha Odendaal     16th August 2017 While the manufacturing sector slowed its overall investment during the second quarter of the year, there are indications of a recovery in the third quarter, new data released by the Manufacturing Circle suggests. The latest Manufacturing Composite Investment Tracker (MCIT) shows continued –... 

Manufacturing sector slows Q2 spending, Q3 outlook more promising
Photo by Duane Daws
Manufacturing Circle chairperson Andre de Ruyter

Solidarity warns of ‘major impact’ should AMSA proceed with job cuts

By: Terence Creamer     16th August 2017 Trade union Solidarity has confirmed receipt of a Section 189A retrenchment notice from steel producer ArcelorMittal South Africa (AMSA) and has indicated that it will enter negotiations with the company to ensure alternatives to retrenchments are considered. On Tuesday, AMSA announced that it... 

Solidarity warns of ‘major impact’ should AMSA proceed with job cuts

Moody's says South Africa's political tensions constraining growth

By: Reuters     16th August 2017 Political tensions in the ruling African National Congress will weigh on South Africa's growth, ratings agency Moody's said on Wednesday. President Jacob Zuma survived a no-confidence vote in parliament last week but a few dozen lawmakers from his own party supported the motion that would have... 

World treaty to ban and reduce mercury poison comes into force

By: News24Wire      Updated 3 hours ago It is rated as one of the top ten chemical poisons endangering human health and the natural world. Tiny drops of this poison can be found in human teeth, in fresh fish, in light bulbs, paints, batteries and even cosmetics. And it is in the air, water and soil everywhere, in varying amounts. 

DPO acquires VCS South Africa

By: Creamer Media Reporter      Updated 59 minutes ago Payment services provider Direct Pay Online (DPO) Group has acquired Virtual Card Services (VCS) South Africa. This marks the completion of DPO’s purchase of the VCS group, following the earlier acquisition of VCS Namibia and VCS Botswana. It also bolsters DPO’s position in Southern Africa post... 

Parliamentary State capture probe hits first hurdle

By: African News Agency      16th August 2017 The investigation into State capture by Parliament’s portfolio committee on public enterprises on Wednesday hit its first hurdle as it was confirmed to members that the legislature would not pay for an independent evidence leader. Acting chairperson Zukiswa Rantho told MPs she had asked the chair... 

Parliamentary State capture probe hits first hurdle

Krugerrand demand resurgence anticipated to result in record sales  

By: Ilan Solomons     16th August 2017 Increased demand for gold has supported sales of the gold bullion Krugerrands and this year is predicted to yield the highest sales since the 1980s, with an expected 15% to 20% increase on the 1.1-million ounces of the coins sold in 2016. This is according to precious metal smelting and refining... 

Rand Refinery marketing executive head Richard Collocott discusses the significance of the fiftieth anniversary of the launch of the gold bullion Krugerrand

Emira on track to improve performance, despite difficult operating environment

By: Anine Kilian     16th August 2017 Despite a challenging year, JSE-listed real estate investment trust Emira Property Fund says it has significantly improved vacancies across its portfolio to 5.3%, from 7% at its half-year, while having also renewed 77% of expiring space during the financial year to June 30.    Speaking at a... 

Low consumer confidence contributes to weaker H1 for Famous Brands

By: Anine Kilian     16th August 2017 JSE-listed Famous Brands expects its results for the six months to August 31 to be weaker than those reported for the six months to August 31, 2016. In a voluntary trading update issued on Wednesday, the company said trading conditions in the South African market had declined further in the five... 

Italtile FY sales, profitability below target

By: Anine Kilian     16th August 2017 JSE-listed Italtile’s basic earnings a share rose by 3% to 90.3c, while headline earnings a share decreased by 1% to 85.7c for the year ended June 30. Revenue grew by 4% to R3.7-billion, while after-tax profit rose 3% to R880-million. 

Bushveld Energy, IDC studies indicate favourable vanadium battery, electrolyte demand

By: Mia Breytenbach     16th August 2017 There is favourable demand for vanadium redox flow batteries (VRFBs), particularly in the utility and offgrid, as well as minigrid markets, with demand to peak in 2025 to 2030. This is according to recently concluded market studies, commissioned by Aim-listed Bushveld Minerals’ energy subsidiary... 

Bushveld Energy, IDC studies indicate favourable vanadium battery, electrolyte demand
Photo by Duane Daws
Bushveld Minerals CEO Fortune Mojapelo

No agreement of sugar tax yet, says BevSA

By: African News Agency      16th August 2017 The Beverage Association of South Africa (BevSA) on Wednesday, dismissed reports that there was an agreement on the Health Promotion Levy at the National Economic Development and Labour Council (Nedlac). BevSA is opposing the introduction of a 20% tax on sugary beverages, or what has been... 

Global information security spending to reach $86.4bn in 2017

By: Creamer Media Reporter      16th August 2017 Worldwide spending on information security products and services will increase 7% year-on-year to $86.4-billion this year, driven by the business impact of security incidents and an evolving regulatory landscape. This spending is expected to grow further to $93-billion in 2018, the latest... 

CSIR lauds female researcher for obtaining doctorate in spatial statistics 

     16th August 2017 Dr Sibusisiwe Khuluse-Makhanya has become the first black female researcher at the Council for Scientific and Industrial Research (CSIR) to obtain a PhD in spatial statistics.   Her PhD, which is titled ‘Spatial Statistical Modelling of Urban Particulate Matter’, was conferred at a graduation... 

Lovell steps down as Sapa head

By: Natasha Odendaal     16th August 2017 South African Poultry Association CEO Kevin Lovell is stepping down, effective August 17, after 11 years at the helm. Dr Charlotte Nkuna has been appointed acting CEO. 

4AX appoints new CFO, COO

By: Creamer Media Reporter      16th August 2017 New exchange 4 Africa Exchange (4AX), has appointed Lindiwe Ndlela CFO and Anthony van Eden COO.   Ndlela, who joined the exchange in July, has extensive experience in the information and communications technology, manufacturing and engineering industries.   Van Eden, who joined 4AX on August 1,... 

Eskom tariffs in the spotlight 

By: Creamer Media Reporter      Updated 1 minute ago Creamer Media's Chanel de Bruyn speaks to Engineering News Editor Terence Creamer about the National Energy Regulator of South Africa’s decision not to grant Eskom’s request for a deviation from the tariff methodology for its upcoming price determination application and how industry is likely to... 

Eskom tariffs in the spotlight

Technology set to unleash mining innovation – Anglo’s O’Neill

By: Martin Creamer     16th August 2017 In the next ten years, technology is set to unleash a wave of mining innovation, with the sweet spot centred on changing the thinking around orebodies and processing plants rather than much-spoken-about automation. “Our focus has changed from hunting technologies to hunting value,” Anglo American... 

Technology set to unleash mining innovation – Anglo’s O’Neill
Anglo American technical director Tony O’Neill

Tshwane roads, railway lines blocked and cars pelted in taxi protest

By: News24Wire      16th August 2017 Taxi drivers embarked on illegal protest action in Tshwane on Wednesday morning, blocking several roads and railway lines and pelting passing cars with rocks. Police said several roads in Mabopane, Ga-Rankuwa, Soshanguve as well as the Mabopane highway have been blocked by taxis. 

Tshwane roads, railway lines blocked and cars pelted in taxi protest

AMSA initiates retrenchment talks as it pushes ahead with restructuring plan

By: Terence Creamer     15th August 2017 Steel producer ArcelorMittal South Africa (AMSA) announced on Tuesday that it had initiated consultations with employees regarding its proposed business-restructuring programme, which could result in job losses. CEO Wim de Klerk said in a statement that it was premature to provide an estimate as... 

AMSA initiates retrenchment talks as it pushes ahead with restructuring plan
Photo by Duane Daws
AMSA CEO Wim de Klerk

Three new trends key to businesses’ digital economy survival

By: Creamer Media Reporter      15th August 2017 Artificial intelligence (AI), transparently immersive experiences and digital platforms are the emerging technologies set to dominate the business arena in the next ten years, according to Gartner’s latest Hype Cycle for Emerging Technologies report. Key to businesses surviving and thriving in... 

Housing supply remains a moving target as govt plays catch-up

By: Natasha Odendaal     15th August 2017 South African cities are struggling to match housing availability to the pace of urbanisation, with the many South African and foreign migrants adding to an ever-expanding population and placing further pressure on housing supply, which is already backlogged owing to a reduction in household... 

Housing supply remains a moving target as govt plays catch-up
Photo by Duane Daws
Human Settlements Minister Lindiwe Sisulu

Central banks vital for Africa’s integration, says Zuma

By: African News Agency      15th August 2017 President Jacob Zuma has encouraged African central bank governors gathered in Pretoria for the 2017 Governors’ Symposium of the Association of African Central Banks (AACB) to explore ways to improve economic integration, including linking payment systems, across borders on the continent.... 

Public urged to participate in police leadership survey 

By: Sane Dhlamini     15th August 2017 Nonprofit organisation Corruption Watch (CW) and the Institute for Security Studies (ISS) have launched a survey, on the eve of the commemoration of the Marikana massacre, seeking public input on the selection of the new South African Police Service (Saps) national commissioner and the head of... 

Public urged to participate in police leadership survey

Imperial’s Motus division acquires UK automotive dealer group for R493m

By: Creamer Media Reporter      15th August 2017 Imperial Holdings’ vehicle division Motus has acquired UK automotive dealer group Pentagon Motor Holdings for R493-million. “Imperial has strong global partnerships with leading vehicle manufacturers and we are delighted to expand our international retail footprint into the passenger and light... 

Despite delay, US expected to impose steel tariffs

By: Reuters     15th August 2017 US President Donald Trump is still expected to impose steel import tariffs on national security grounds despite the delay of a probe into the matter and pursuit of multilateral talks to reduce excess capacity, industry players and trade experts say. US steel stocks have fallen nearly 10% since... 

July trade activity index reflects ‘reserved’ trade conditions – Sacci

By: Creamer Media Reporter      15th August 2017 The South African Chamber of Commerce and Industry (Sacci) Trade Activity Index (TAI) stood at 47 in July, reflecting “reserved” trade conditions, with the TAI still below 50. The seasonally adjusted TAI, however, improved by a further two index points to 51 in July. This was three points higher... 

Grindrod expects to narrow interim losses

By: Creamer Media Reporter      15th August 2017 Shipping and logistics group Grindrod expects to narrow its headline loss to between R119-million and R139-million for the six months ended June 30, a 64% to 69% improvement on the headline loss of R381-million reported for the first half of 2016. It further expects to report a loss of between... 

SARB welcomes court judgment affirming its mandate

By: Reuters     15th August 2017 The South African Reserve Bank (SARB) welcomed a High Court judgment affirming the institution’s inflation targeting mandate, the bank's governor said on Tuesday. Public Protector Busisiwe Mkhwebane sparked a political row and a big sell-off in the rand currency when she proposed in June that the... 

Outa lays corruption charges against former Eskom board director 

By: African News Agency      15th August 2017 The Organisation Undoing Tax Abuse (Outa) has laid a criminal complaint with the police against former Eskom director, Mark Pamensky. Outa chief operating officer Ben Theron on Tuesday said the charges related to Pamensky’s conduct while at Eskom and a business ”linked to the Gupta business empire.” 

Court quashes anti-graft watchdog proposal to change SARB's mandate

By: Reuters     15th August 2017 A South African court rejected on Tuesday a call by the anti-graft watchdog for the South African Reserve Bank (SARB) to focus its monetary policy on boosting economic growth instead of on fighting inflation and keeping the rand currency stable. Public Protector Busisiwe Mkhwebane, whose job is... 

Court quashes anti-graft watchdog proposal to change SARB's mandate

Rand slips as court to rule on SARB mandate

By: Reuters     15th August 2017 South Africa's rand was slightly weaker on Tuesday ahead of a court ruling on the central bank's inflation targeting mandate and an economic update by ratings agency Moody's. At 0717 GMT, the rand traded at 13.3400 versus the dollar, down 0.2% from its New York close on 13.3225. 

Western Cape confirms presence of H5N8 bird flu

By: Reuters     15th August 2017 South Africa's Western Cape has detected type H5N8 bird flu on two ostrich farms, the province's agriculture department said on Tuesday. The virus is highly pathogenic in birds but considered unlikely to infect humans. 

City of Cape Town to release 'Water Resilience Plan'

By: News24Wire      15th August 2017 A comprehensive plan to avoid the City of Cape Town running out of water will be announced on Thursday, the city said on Monday. This as the city's storage dam levels stood at 31.1% on Monday compared to 56.1% for the same period in 2016. 

ConCourt upholds scrap metal export provisions

By: Anine Kilian     14th August 2017 The Constitutional Court (ConCourt) has dismissed local scrap metal exporter SA Metal Group’s request for leave to appeal the High Court’s decision to uphold the State’s scrap metal export provisions, known as the price preference system, as well as the International Trade Administration... 

KAP advances acquisition strategy; reports good FY17 results

By: Schalk Burger     14th August 2017 Diversified industrial group KAP Industrial Holdings’ acquisition of high-density polyethylene and polypropylene manufacturer Safripol, logistics firm Lucerne Transport and a 51.4% interest in logistics firm Xinergistix during the 2017 financial year, provides the company with further... 

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