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IDC assessing 21 applications under R1.5bn downstream steel incentive

By: Terence Creamer     Updated 55 minutes ago The Industrial Development Corporation (IDC) is currently assessing 21 potential transactions, worth a combined R437-million, arising from applications for support under a R1.5-billion industrial financing scheme set up in 2017 to support manufacturers of value-added steel products. The... 

IDC assessing 21 applications under R1.5bn downstream steel incentive

What’s right and what’s wrong in a world where machines drive us

By: Irma Venter     Updated 3 hours ago A vehicle travels at speed around a bend on a hillside. Several children run onto the road. The options available to the driver are to hit the children, or to drive off the cliffside. Would the driver make a decision of self-preservation, or self-sacrifice? 

What’s right and what’s wrong in a world where machines drive us

Reserve Bank Governor Kganyago's election as IMFC chair welcomed

By: African News Agency      Updated 3 hours ago Finance Minister Malusi Gigaba on Thursday announced that South African Reserve Bank (SARB) Governor Lesetja Kganyago was selected as chairperson of the International Monetary and Financial Committee (IMFC). Kganyago, who is also South Africa's Alternate Governor on the International Monetary... 

Governments need to respond nimbly to tech advances, says WEF founder

By: African News Agency      Updated 3 hours ago Governments and world leaders need to be nimble and adaptable when it comes to the governance of technological advances in order to fully harness its potential to solve critical global challenges. This is according to Professor Klaus Schwab, the founder and executive chairperson of the World... 

ANC WC to request inquiry into whether City 'deliberately ignored' drought warnings

By: News24Wire      Updated 3 hours ago The ANC in the Western Cape on Thursday said it would request President Jacob Zuma to institute a Commission of Inquiry to establish whether the Western Cape government and the City of Cape Town "deliberately ignored the warnings of the diminishing water resources". "The DA must accept the blame... 

Toothpaste ingredient could fight malaria, research shows

By: Reuters     Updated 2 hours 46 minutes ago Research carried out in part by an artificially-intelligent (AI) ‘robot scientist’ has found that a common ingredient of toothpaste could be developed to fight drug-resistant strains of malaria. In a study in the journal Scientific Reports, scientists from Britain’s Cambridge University who used... 

Norway's $1tn fund curbs holdings in biggest carbon dioxide emitters

By: Reuters     Updated 2 hours 44 minutes ago Norway's sovereign wealth fund has trimmed the proportion of its $1 trillion fortune that is invested in companies that emit the most greenhouse gas, a Reuters survey has shown. Environmental campaigners hope the move by the world's biggest State-owned investment fund signals the start of a trend... 

Former Land Bank CEO convicted of fraud

By: African News Agency      Updated 35 minutes ago The specialised commercial crimes court in Pretoria has convicted former Land Bank CEO Philemon Radichaba Mohlahlane and three others of defrauding the bank of at least R6 million in a case dating back to 2012. The Directorate for Priority Crime Investigation, commonly known as the Hawks, said... 

Egypt, Ethiopia leaders say Nile dam must not ruin relations

By: Reuters     Updated 53 minutes ago Egyptian President Abdel Fattah al-Sisi pledged on Thursday not to let differences over a dam Ethiopia is building on the Nile river ruin relations with Addis Ababa. Ethiopia hopes the hydroelectric Grand Renaissance Dam will make it Africa's largest power exporter. 

African Energy to delist from Botswana exchange

By: Megan van Wyngaardt     Updated 55 minutes ago ASX-lsited African Energy Resources (AER) on Friday said it would delist from the Botswana Stock Exchange (BSE), as it currently encompassed only 22 shareholders with less than 0.3% of its shares on issue. Listed since October 2011, AER’s directors believed that the administrative costs and... 

African Energy to delist from Botswana exchange

Nigeria passes major oil reform bill after 17 year struggle

By: Reuters     Updated 57 minutes ago Nigeria has moved closer to turning an oil industry bill into law after a 17 year struggle to complete the legislation which aims to increase transparency and stimulate growth in the country's oil industry. Nigeria' lower house of parliament has passed a version of the bill which is the same as... 

South Africa's rand near 2-1/2 year high, stocks ease

By: Reuters     Updated 1 hour 42 minutes ago South Africa's rand scaled a fresh 2-1/2 year high against a broadly fragile dollar on Friday before easing after the central bank held interest rates steady on Thursday. At 0715 GMT, the rand was 0.1 percent weaker at 12.145 to the dollar after earlier hitting 12.0725, its best level since June... 

South Africa's rand near 2-1/2 year high, stocks ease

Nigeria lawmakers look into recovering $21bn revenues from oil groups

By: Reuters     Updated 1 hour 43 minutes ago Nigerian lawmakers ordered an investigation on Thursday into whether the government could recover $21-billion in revenues from international oil companies. Oil minister Emmanuel Ibe Kachikwu said in December the government had failed to enforce a legal provision entitling it to a greater share of... 

Engineering News iPhone and Android Apps available for free download

By: Creamer Media Reporter      19th January 2018 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

Winds of change have landed, bringing economic growth – BLSA CEO

By: Megan van Wyngaardt     18th January 2018 Business in South Africa has not been this hopeful about the future of the country in years, Business Leadership CEO Bonang Mohale said at a pre-World Economic Forum (WEF) briefing on Thursday. He highlighted that while the country was below investment grade, the recent African National Congress... 

Nigeria moves closer to turning long-awaited oil bill into law

By: Reuters     18th January 2018 Nigeria moved closer to turning the first part of a long-awaited oil industry bill into law after the lower house passed the same version of the legislation approved by the Senate last year, a lawmaker in the House of Representatives said on Thursday. It is the first time both houses have... 

British defence specialist Chemring faces corruption inquiry

By: Reuters     18th January 2018 British prosecutors said on Wednesday they had opened a bribery, corruption and money laundering investigation into defence specialist Chemring Group Plc, one of its subsidiaries and individuals associated with the businesses. The Serious Fraud Office (SFO) said Chemring Technology Solutions... 

South Africa holds rates as inflation risks offset rand strength

By: Reuters     18th January 2018 South Africa's central bank kept its benchmark repo rate unchanged at 6.75% on Thursday, saying that risks to inflation were still on the upside despite a recent strengthening of the rand currency. The majority of analysts polled by Reuters last week had predicted the repo rate would stay on... 

South Africa holds rates as inflation risks offset rand strength
Photo by Reuters
Reserve Bank governor Lesetja Kganyago

Drought levy likely to be dropped after massive outcry – De Lille

By: News24Wire      18th January 2018 The controversial drought levy, or drought charge, proposed by the City of Cape Town will most likely be rejected at a council meeting on Friday, Mayor Patricia de Lille said on Thursday. This, as detailed plans for the "eventuality" of the City’s Day Zero contingency plans will be released next... 

Drought levy likely to be dropped after massive outcry – De Lille
Photo by Reuters
Cape Town Mayor Patricia de Lille

VWSA launches assembly, ride-sharing, car-hailing business in Rwanda

By: Irma Venter     18th January 2018 German car maker Volkswagen has established Volkswagen Mobility Solutions Rwanda (VMSR), an integrated automotive mobility solutions company that is to be run under the auspices of Volkswagen Group South Africa (VWSA). VWSA is responsible for the sub-Saharan African region within the Volkswagen... 

VWSA launches assembly, ride-sharing, car-hailing business in Rwanda
The 2018 Polo

Africa’s industrialisation needs to be more focused, unrushed – panel

By: Natasha Odendaal     18th January 2018 While there is some momentum in industrialisation efforts across Africa, a panel of industry participants have cautioned against a knee-jerk reaction that could fragment or overwhelm capacities on the continent. Industrialisation on the continent has historically lagged that of the rest of the... 

What Ramaphosa’s election means for business 

     18th January 2018 Creamer Media’s Samantha Herbst talks to Engineering News editor Terence Creamer about the new African National Congress president’s hopes to reignite economic growth. 

What Ramaphosa’s election means for business

Shaw Controls ISO certified  

     18th January 2018 Motor control centre manufacturer Shaw Controls, a Zest WEG group company, is now a proud ISO 9000:2015 certified local manufacturing facility. Shannon de Ryhove has the story. 

Shaw Controls ISO certified

Toshiba reaches deal to help resolve Westinghouse bankruptcy, rebuild finances

By: Reuters     18th January 2018 Toshiba Corp said on Thursday it had clinched an agreement to sell its claims in bankrupt US nuclear plant maker Westinghouse Electric Co in a deal that would add $3.7-billion to the Japanese owner's depleted capital base. The Japanese conglomerate has also agreed to transfer its... 

China govt curbs drop avg daily steel output to 12-mth low in Dec

By: Reuters     18th January 2018 China's average daily steel output fell 1.9% in December from the previous month, official data showed on Thursday, touching the lowest level in a year as government-imposed production curbs deepened. Total output climbed to 67.05-million tonnes in December from 66.15-million tonnes in November,... 

German construction sales to grow by 4% this year – associations

By: Reuters     18th January 2018 German construction companies expect sales to grow by 4% this year, reaching their highest level since 1995, industry associations said on Thursday, suggesting the sector will continue to propel growth in Europe's biggest economy this year. Germany is enjoying a construction boom due to higher... 

Inclusive growth represents a $7tn opportunity – Mastercard

By: Natasha Odendaal     18th January 2018 The ingredients that allow for inclusive growth to take place are already lined up, but it will be up to the private sector, governments and civil society to start the dialogue and determine the degree of intention to take growth to the next level. The pursuit of inclusive growth needed to be... 

Cape Town cuts water allowance to daily 50 litres as Day Zero nears

By: African News Agency      18th January 2018 Cape Town on Thursday drastically cut water restrictions from 87 litres per person per day to 50 litres -- about two-and-a-half standard buckets -- as South Africa's mother city continues to struggle with a three-year-long drought that could see it become the first major modern city in the world... 

Cape Town cuts water allowance to daily 50 litres as Day Zero nears

Eskom challenges need to be addressed urgently, or South Africa will sink – Gigaba

By: Megan van Wyngaardt     18th January 2018 Finance Minister Malusi Gigaba on Thursday painted a grim picture of the financial challenges facing power utility Eskom, stating that the national fiscus would be unable to bail the State-owned enterprise (SOE) out in the event of a default. Speaking at a pre-World Economic Forum (WEF)... 

Eskom challenges need to be addressed urgently, or South Africa will sink – Gigaba
Photo by Duane Daws
Deputy President Cyril Ramaphosa and Finance Minister Malusi Gigaba

Editorial: Eskom requires surgery not a Band-Aid

By: Terence Creamer     18th January 2018 Eskom’s debt refinancing is undoubtedly a critical burning platform. The clock is most definitely ticking and the consequences of not closing the immediate financial chasm will be dire not only for the utility, but also for citizens. That said, government is extremely unlikely to allow Eskom to... 

Editorial: Eskom requires surgery not a Band-Aid

New ‘disruptive’ mine borer heads for Indaba unveiling

By: Martin Creamer     18th January 2018 A new Proudly South African mine tunnel borer that requires no blasting, delivers higher production advances, comes with a collaboration imprimatur and can be retrofitted to existing operations, will be unveiled at next month’s Mining Indaba in Cape Town and commissioned in the third quarter of... 

New ‘disruptive’ mine borer heads for Indaba unveiling
Photo by Duane Daws
Danie Pretorius

Resumption of Cape Town Prasa service marred by train derailment

By: African News Agency      18th January 2018 The resumption of the Passenger Rail Agency of South Africa (Prasa) services on Thursday morning was marred when a train came off the rails along the notorious Central Line in Cape Town The train service had been suspended for nearly two weeks because of safety concerns sparked by the shooting of... 

MTN optimistic about Africa’s future growth

By: Natasha Odendaal     18th January 2018 Nine months after taking the reins as president and CEO of MTN, Rob Shuter remains confident of the future of the company and its opportunities across its 22 markets in the Middle East and Africa. Addressing delegates at Deloitte’s yearly Africa Outlook conference, Shuter said there were more... 

Capture of State-owned enterprises totally unacceptable – Ramaphosa

By: African News Agency      18th January 2018 South Africa's deputy president and new leader of the ruling African National Congress (ANC), Cyril Ramaphosa, said on Thursday it was "totally unacceptable" that State-owned companies had fallen prey to criminal elements, resulting in sovereign credit rating downgrades to sub-investment status.... 

Capture of State-owned enterprises totally unacceptable – Ramaphosa
Deputy President Cyril Ramaphosa

Congo Republic plans to join Opec oil cartel

By: Reuters     18th January 2018 Congo Republic plans to join the Opec oil cartel, the government said, as the former French colony presses ahead with projects that could help it become the third-largest oil producer in sub-Saharan Africa. "The Republic of Congo has decided to accede to the Organization of the Petroleum... 

WEF 2018 meeting to feature record number of world leaders

By: African News Agency      18th January 2018 A record number of heads of state, government and international organisations, as well as leaders from business, civil society, academia, the arts and media, are set to attend the World Economic Forum’s (WEF) 48th annual meeting taking place in Davos-Klosters, Switzerland, from January 23 to 26.... 

Massmart says 2017 sales increase 2.7% to R93.7bn

By: African News Agency      18th January 2018 Retail group Massmart said on Thursday total sales for the 53 weeks to 31 December 2017 increased by 2.7% to R93.7-billion compared with the 52 weeks to 25 December 2016. The company noted that its 2017 financial year was a 53-week trading period ended 31 December 2017, which complicated useful... 

Tracking Europe's waste: 'There's gold in them landfills'

By: Reuters     18th January 2018 Some of Europe's richest deposits of valuable materials are in the trash, ranging from gold in smartphones to cobalt in electric car batteries, according to a survey of urban mining published on Wednesday. Scrap vehicles, batteries, computers, fridges and other electronic and electrical waste... 

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