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May 27, 2015
   
Updated 19 minutes ago Suggesting market-share gains by the retail group, Massmart CEO Guy Hayward reported on Wednesday that the company had managed to grow its sales by 9.5% in the first 20 weeks of this year, despite “intense” competition in the retail sector. Comparable sales grew 7.4%...
 
May 27, 2015
Article contains comments
Deputy President Cyril Ramaphosa
Updated 2 hours 2 minutes ago State-owned enterprises (SOEs) have the potential to stimulate “reindustrialisation and radical economic transformation”, Deputy President Cyril Ramaphosa said during the Presidency’s budget vote debate on Tuesday. Ramaphosa said it made sense for the efforts of SOEs...
May 27, 2015
Updated 22 minutes ago The installation of an R8-million roof-mounted solar photovoltaic (PV) energy harvesting system by diversified South African agribusiness BKB is set to provide energy to, and reduce the carbon footprint of, South Africa’s wool and mohair industry, in Nelson Mandela...
May 27, 2015
Updated 1 hour 30 minutes ago Africa's second-biggest copper producer Zambia has cut its power generation by 300 MW after water levels in the Kariba dam, a key source of hydropower, dropped following a prolonged drought, its deputy minister of energy said on Tuesday. Charles Zulu said Zambia...
May 26, 2015
Sanral CEO Nazir Alli
There were a number of “inconvenient truths” often ignored in the debate around tolling the 201 km of Gauteng highways upgraded during the Gauteng Freeway Improvement Project (GFIP), said South African National Roads Agency Limited (Sanral) CEO Nazir Alli on Tuesday....
May 26, 2015
Article contains comments
When the Eskom board suspended four executives in March, Public Enterprises Minister Lynne Brown based her support for the move largely on what she perceived as a lack of “credible information” flowing from the managers on a range of issues, including plant...
May 26, 2015
May 26, 2015
South Africa's unemployment rate rose to 26.4% of the labour force in the first quarter of 2015 from 24.3% in the fourth quarter of last year, data showed on Tuesday. In its quarterly labour force survey, which polls households, Statistics South Africa said this...
May 26, 2015
South Africa’s gross domestic product (GDP) growth has slowed from 4.1% in the last quarter of 2014 to 1.3% in the first quarter of this year, weighed down by a contracting manufacturing sector, Statistics South Africa (StatsSA) revealed in its quarterly GDP update...
 
May 26, 2015
Economic bilateral relations between South Africa and Peru will receive a shot on the arm when businesspeople from the two countries gather in Lima, Peru, to launch the South Africa–Peru Chamber of Commerce (Sapcham) on Wednesday. The chamber aimed to increase trade...
May 27, 2015
Updated 1 hour 17 minutes ago Tanzania's government has agreed a deal to buy back a 35% stake in a state-run telecoms company from the local subsidiary of India's top mobile carrier Bharti Airtel for 14.6-billion shillings ($7.07-million), a senior official said.    The east African nation says...
May 27, 2015
Updated 1 hour 22 minutes ago Nigeria's main oil union has shut down the local operations of US oilfield services provider Halliburton Co in protest against job cuts, the trade body said on Tuesday. Tokunbo Korodo, Lagos chairperson for the National Union of Petroleum and Natural Gas Workers...
May 25, 2015
In this context Creamer Media’s Gold 2015 report reviews the global gold market and gold companies that have operations in Africa. It particularly focuses on the South African gold sector, including labour issues and electricity shortages, as well as prospects for...
May 27, 2015
Updated 2 minutes ago Nedbank Property Finance has granted finance of R323-million to unlisted property fund, the FPG Group, for the acquisition of the Cape Gate Lifestyle precinct, in Cape Town, from real estate investment trust Hyprop. The acquisition comprised 30 000 m2 of gross...
May 26, 2015
Tongaat Hulett CEO Peter Staude
JSE-listed Tongaat Hulett CEO Peter Staude told shareholders and analysts on Tuesday that of the company’s land assets, 39% was either in the process of undergoing an environmental-impact assessment, being released from agriculture, had formally submitted a planning...
May 26, 2015
Article contains comments
Trade union Solidarity on Tuesday lambasted government for importing foreign skills in the form of 48 Cuban engineers, instead of appointing South African engineers, calling it a “disgrace”. The first of 48 Cuban engineers, appointed to improve service delivery in...
May 26, 2015
Around 70% of the world’s current gross domestic product (GDP) – valued at $32.3-trillion – will steadily be impacted by the industrial Internet revolution, Industrial Internet Consortium executive director Dr Richard Soley said on Tuesday. Addressing delegates at...
 
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