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Eskom business-model review aimed at lowering utility’s risk to fiscus

By: Terence Creamer     24th May 2018 Public Enterprises Minister Pravin Gordhan has confirmed that the business model of power utility Eskom is up for discussion as government seeks to reduce the fiscal risk currently posed by utility and to reposition the State-owned enterprise (SoE) for future sustainability. On his eighty-sixth... 

Eskom business-model review aimed at lowering utility’s risk to fiscus
Photo by Creamer Media
Public Enterprises Minister Pravin Gordhan

Gordhan appoints new Denel, Transnet, SA Express boards; Hadebe appointed Eskom CEO

By: Anine Kilian     24th May 2018 Public Enterprises Minister Pravin Gordhan has appointed Phakamani Hadebe as Eskom CEO. Hadebe has been acting CEO of the power utility since January. 

Gordhan appoints new Denel, Transnet, SA Express boards; Hadebe appointed Eskom CEO
Photo by Dylan Slater
Eskom CEO Phakamani Hadebe

SARB keeps repurchase rate at 6.5%

By: African News Agency      24th May 2018 South Africa's Reserve Bank (SARB) kept its benchmark repurchase rate at which it lends to commercial banks unchanged at 6.5% on Thursday, saying the stance was appropriate given the forecast inflation trajectory and the current state of the economy. The move follows a 25 basis point decrease at... 

SARB keeps repurchase rate at 6.5%

Probe into influence peddling to start hearings in August

By: Reuters     24th May 2018 An inquiry into allegations of influence peddling revolving around former president Jacob Zuma and businessman friends of his will begin formal public hearings in August and could take two years or more, the head of the commission said on Thursday. The allegations around Zuma, forced from office... 

Troubled economy creating some new opportunities, says Afrimat boss

By: Irma Venter     24th May 2018 “The fact that ArcelorMittal, Aveng, Group Five and Basil Read today have a smaller combined market capitalisation than a ‘little’ quarry company such as Afrimat, shows you that the economy is in trouble,” says Afrimat CEO Andries van Heerden. “Not long ago any one of them was twenty times our... 

 Troubled economy creating some new opportunities, says Afrimat boss

Tiger Brands H1 earnings hit by South Africa cold meat recall costs

By: Reuters     24th May 2018 South Africa's Tiger Brands reported on Thursday a 16% drop in half-year earnings, weighed down by R365-million ($29.24-million) in costs due to a recall of cold meat products in response to a listeria outbreak. The country's biggest food producer suspended production at its Polokwane, Germiston,... 

Despite somewhat dismal FY18 performance, Famous Brands remains cautiously optimistic

By: Simone Liedtke     24th May 2018 Despite a somewhat dismal performance by some of its operations in the financial year ended February 28, branded food services franchisor Famous Brands remains cautiously optimistic about the South African and African landscape, while feeling reserved about its UK operations. This follows... 

Despite somewhat dismal FY18 performance, Famous Brands remains cautiously optimistic

Avian flu still affecting agricultural cycles – Quantum Foods

By: Simone Liedtke     24th May 2018 The first six months of the current financial year proved how quickly agricultural cycles can change, says diversified feeds and poultry business Quantum Foods. This is evidenced through two main factors influencing the macroenvironment during this period, ended March 31. 

Weir Minerals shines at Seifsa awards

By: Anine Kilian     24th May 2018 Mine dewatering equipment supplier Weir Minerals won the 2018 Most Transformed Company of the Year Award, as well as the Environment Stewardship Award, at the Steel and Engineering Industries Federation of Southern Africa (Seifsa) Awards for Excellence, on Thursday night. Engineering support... 

South Africa authorities halt flights of State-run SA Express over safety

By: Reuters     24th May 2018 South Africa's Civil Aviation Authority (SACAA) said on Thursday it had suspended all flights of state-run airline SA Express over safety concerns. The decision comes after Public Enterprises Minister Pravin Gordhan said on Thursday that he had appointed an "intervention team" to help at the... 

Enforcement unit to protect Metrorail commuters and infrastructure on the way

By: African News Agency      24th May 2018 The formation of an enforcement unit to prioritise the safety and security of Metrorail commuters and infrastructure moved a step closer this week, with the signing of a memorandum of agreement between the City of Cape Town, along with the Passenger Rail Agency of South Africa (PRASA) and the... 

African Open Skies plan putting cart before horse – Nigerian airlines

By: Rebecca Campbell     24th May 2018 Nigerian airlines are not enthusiastic about any rapid implementation of the Single African Air Traffic Market (SAATM). This was made clear at the 27th Annual African Aviation Summit (Air Finance Africa) by national industry association Airline Operators of Nigeria CEO Noggie Meggasin on... 

Consortium to study feasibility of turning waste biomass into aviation fuel

By: Anine Kilian     24th May 2018 A consortium comprising enterprise development specialist Fetola, the World Wide Fund for Nature South Africa (WWF-SA) and SkyNRG is launching the Waste to Wing project to determine the feasibility of using waste biomass to produce sustainable aviation fuel in South Africa.  The consortium will... 

465 TWh of renewable energy sourced by companies in 2017 – Irena

By: Simone Liedtke     24th May 2018 Companies in 75 countries actively sourced 465 TWh of renewable energy in 2017, an amount close to the overall electricity demand of France, a new report by the International Renewable Energy Agency (Irena) states. With the continued decline in the costs of renewables, the report suggests that... 

Nigeria's Bodo community claims win over Shell after latest UK court ruling

By: Reuters     24th May 2018 A British judge ruled on Thursday that Nigeria's Bodo community, which has been involved in a protracted legal battle with Shell over the clean-up of two 2008 oil spills, should retain the option of litigation for another year. Lawyers for Bodo had accused Shell of trying to kill off the legal... 

Aspen opens R1bn high containment facility in Port Elizabeth 

24th May 2018 Pharmaceutical company Aspen officially opened its new high containment facility, valued at about R1-billion, earlier this month. Simone Liedtke tells us more. 

Aspen opens R1bn high containment facility in Port Elizabeth

Northam ups funding capacity as stockpile monetisation ensues

By: Martin Creamer     24th May 2018 Platinum mining company Northam has increased its funding capacity to tide it over a capital intensive development period. A new R1-billion two-year unsecured revolving credit facility to April 2020 is augmenting a previous R2-billion unsecured revolving credit facility to November 2021, taking... 

Northam ups funding capacity as stockpile monetisation ensues
Photo by Creamer Media
Northam Platinum CEO Paul Dunne

US auto import probe borders on provocation – Germany's DIHK

By: Reuters     24th May 2018 The US decision to launch a national security investigation into car imports marks a further low point in business ties with Europe and could lead to costs of 6 billion euros, Germany's DIHK Chambers of Industries and Commerce said on Thursday. "To cite aspects of national security as... 

EU starts new investigation into steel imports from China

By: Reuters     24th May 2018 The European Commission has opened an investigation into hot-rolled steel sheet piles imported from China to determine whether they are being dumped in Europe, according to a notice in the EU Official Journal on Thursday. The investigation into a form of steel used in construction was launched... 

Coega perfectly poised to participate in lithium-ion battery industry – CDC

By: Simone Liedtke     23rd May 2018 The Coega Special Economic Zone (SEZ) is at an advanced stage of setting up factories that will supply gigawatt factories with manganese, a key ingredient in most lithium-ion batteries. Coega Development Corporation (CDC) business development metallurgic sector manager Sadick Davids says the SEZ... 

Half of Ramaphosa’s SoE council to be made up of people from outside of government

By: Terence Creamer     23rd May 2018 President Cyril Ramaphosa has announced that the composition of the Presidential State-owned Enterprise (SoE) Council, whose establishment has been approved by Cabinet, will be split between Ministers, as well as business people, experts and stakeholders. Speaking in Parliament during the debate... 

Half of Ramaphosa’s SoE council to be made up of people from outside of government
President Cyril Ramaphosa

Plans under way to build R20m Klipspruit pedestrian bridge

By: Simone Liedtke     23rd May 2018 The Johannesburg Roads Agency (JRA) has approved the development of a R20-million pedestrian bridge over railway tracks in Klipspruit, owing to a high volume of pedestrian movement over the railway tracks that lead to the Chiawelo Railway Station. The bridge will prevent the unsafe and illegal... 

AfDB, Korea agree to partner on Korea-Africa Energy Investment Facility

By: Simone Liedtke     23rd May 2018 The government of Korea and the African Development Bank (AfDB) have signed a letter of intent to launch the Korea–Africa Energy Investment Facility (KEIF), which will provide significant support to the New Deal on Energy for Africa, which aims to achieve universal access to energy.  The signing,... 

Telecom Egypt bags $200m financing facility to buy undersea Internet cable

By: African News Agency      23rd May 2018 The African Export-Import Bank (Afreximbank) said on Wednesday that it will commit up to $200-million to Telecom Egypt (TE) in a bid to enable the telecommunication company finance working capital and investments in its infrastructure. The agreement for the short-term dual tranche facility would... 

India takes US steel tariffs complaint to the WTO

By: Reuters     23rd May 2018 India has launched a complaint against the US to challenge President Donald Trump's tariffs on steel and aluminium, a filing published by the World Trade Organization (WTO) showed on Wednesday. Indian officials told Reuters last month that their government would open a WTO dispute if the... 

Local government accountability 'continues to fail' – Makwetu

By: Simone Liedtke     23rd May 2018 Auditor-General Kimi Makwetu on Wednesday emphasised that “accountability continues to fail in local government” as there was an overall deterioration in the audit results of South Africa’s municipalities for the 2016/17 financial year. The Auditor-General South Africa (AGSA) audited 257... 

Local government accountability 'continues to fail' – Makwetu
Auditor-General Kimi Makwetu

Municipalities, State-owned companies must release unused land for urban poor – Ramaphosa

By: African News Agency      23rd May 2018 Municipalities and State-owned companies must expropriate and release unused land for housing the country's urban, landless poor, South African President Cyril Ramaphosa said on Wednesday. "Municipalities and State-owned enterprises need to release unused land and service sites for housing so... 

Municipalities, State-owned companies must release unused land for urban poor – Ramaphosa
President Cyril Ramaphosa

Uganda reviving its civil aviation sector

By: Rebecca Campbell     23rd May 2018 The East African country of Uganda is undertaking a major programme to upgrade and expand its civil aviation sector in all respects, including the recreation of a national airline. This was highlighted by Ugandan Minister of State for Transport Aggrey Henry Bagiire at the 27th African Aviation... 

Shell's oil spill dispute with Nigeria's Bodo villagers back in UK court

By: Reuters     23rd May 2018 Lawyers for the Bodo community in Nigeria's oil-producing Niger Delta, which was devastated by two major oil spills a decade ago, went to court in London on Tuesday to fend off what they said was an attempt by Shell to kill off their litigation. The Bodo oil spills have been the subject of years... 

SAA CEO suggests business rescue will bring little benefit to airline

By: Rebecca Campbell     23rd May 2018 South African Airways (SAA) CEO Vuyani Jarana is of the opinion that placing the airline under business rescue would not lead to a radically different recovery plan for the deeply indebted and heavy loss-making national carrier. He was answering a question from FlightComm editor and aviation... 

SAA CEO suggests business rescue will bring little benefit to airline

Taste expects to widen FY headline loss a share

By: Anine Kilian     23rd May 2018 JSE-listed Taste Holdings expects to widen its headline loss a share to between 40.6c and 43.1c for the year ended February 28. This represents a 62% to 72% widening on the 25c headline loss in the prior year. 

Arrowhead vacancies improve despite challenging economic environment

By: Anine Kilian     23rd May 2018 South African focused real estate investment trust Arrowhead achieved a strong operating performance in the six months ended March 31, despite macroeconomic challenges. Speaking to Engineering News Online COO Riaz Kader on Wednesday said that although the company was operating in a very... 

Hilton hotels to cut down on plastic waste

By: Anine Kilian     23rd May 2018 The Hilton hotel group will remove plastic straws and plastic water bottles from its 650 managed properties by the end of this year. The company on Wednesday revealed its goal of cutting its global environmental impact in half by 2030. 

Schramm appoints HUD as sub-Saharan Africa hammers, bits distributor

By: Marleny Arnoldi     23rd May 2018 Equipment manufacturer Schramm Hammers & Bits has appointed HUD Mining Supplies as its reverse circulation (RC) consumables distributor for sub-Saharan Africa.  

Digital Skills Academy offers digital solution development free of charge to SMEs

By: Marleny Arnoldi     23rd May 2018 Digital Skills Academy – a premier industry provider of online BSc degrees in digital skills – is inviting South African small and medium-sized enterprises (SMEs) to register as industry partners and participate in its industry partner programme.  

SA's annual consumer inflation accelerates to 4.5 percent in April

By: African News Agency      23rd May 2018 South Africa's consumer price inflation bounced up 4.5 percent year-on-year in April from a multi-year low of 3.8 percent in March, the statistics agency said on Wednesday. The consumer price index increased by 0.8 percent on a month-on-month basis in April, Statistics South Africa said. 

SA's annual consumer inflation accelerates to 4.5 percent in April

AfDB, Aims partner to strengthen, leverage maths, science skills in Africa

By: Marleny Arnoldi     23rd May 2018 The African Development Bank (AfDB) has signed a letter of intent (LoI) with the African Institute for Mathematical Sciences (Aims) aimed at identifying opportunities for potential partnership between the two institutions.  

Fintech activity in Africa on the rise

By: Marleny Arnoldi     23rd May 2018 Africa’s fragmented markets and lack of legacy foreign exchange trading infrastructure means that the continent has become a melting pot of fintech activity and innovation, says Standard Bank financial markets digital head Tim Hutchinson.  

Fintech activity in Africa on the rise
Standard Bank financial markets digital head Tim Hutchinson

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