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Andre de Ruyter appointed as Eskom CEO from January 15

By: Terence Creamer     18th November 2019 Public Enterprises Minister Pravin Gordhan announced on Monday that Andre de Ruyter had been appointed as the new CEO of Eskom and that he would commence duties on January 15, 2020, at a salary below that of the current compensation package. De Ruyter, who spent more than 20 years with energy and... 

Andre de Ruyter appointed as Eskom CEO from January 15
Photo by Creamer Media
Andre de Ruyter

Barloworld pursuing R500m-plus acquisition targets as it seeks to rebuild growth momentum 

By: Terence Creamer     18th November 2019 JSE-listed industrial group Barloworld is eyeing several further acquisitions as it closes in on the purchase of a Caterpillar dealership in Mongolia, the due diligence on which has been completed. CEO Dominic Sewela tells Engineering News Online that the company, which has sold various noncore... 

Barloworld pursuing R500m-plus acquisition targets as it seeks to rebuild growth momentum
Barloworld CEO Dominic Sewela

SAA acting head assures on flight safety as operational schedule begins to recover 

By: Rebecca Campbell     18th November 2019 South African Airways (SAA) acting CEO Zuks Ramasia on Sunday assured the country that the ongoing strike at the airline was not compromising the safety and security of its operations. She called on the National Union of Metalworkers of South Africa (Numsa) and the South African Cabin Crew... 

SAA acting head assures on flight safety as operational schedule begins to recover
Photo by Reuters
SAA acting CEO Zuks Ramasia

Escalating SAA strike to test Ramaphosa’s will 

By: Bloomberg     18th November 2019 Labour unions are threatening to bring air travel in South Africa to a near standstill to force the loss-making state carrier to meet their demands for higher wages and job security, testing the government’s resolve to get its finances back on track. Two labour unions representing more than 3 000... 

Water supply interruptions, higher costs dent Astral’s earnings

By: Tasneem Bulbulia     18th November 2019 JSE-listed poultry producer Astral Foods’ earnings for the financial year ended September 30 were considerably lower than the record profit of R1.43-billion achieved in the 2018 financial year, CEO Chris Schutte pointed out on Monday. He noted in a presentation of the company’s results that... 

Pioneer Foods delivers ‘acceptable growth’ amid difficult trading environment

By: Simone Liedtke     18th November 2019 Food company Pioneer Foods delivered “acceptable revenue and volume growth” for the financial year ended September 30, despite a difficult trading environment characterised by weak demand. The company, which recorded a 6% year-on-year decrease adjusted headline earnings a share to 522c for the... 

South Africa junk spiral may deepen as S&P likely to cut outlook

By: Bloomberg     18th November 2019 South Africa could move deeper into junk territory as the nation looks set to lose the only stable outlook on its credit ratings this week. Of the 22 economists in a Bloomberg survey, 16 expect S&P Global Ratings to change its outlook on the country’s credit rating to negative on Friday. That... 

MTN, Cell C conclude national roaming agreement

By: Natasha Odendaal     18th November 2019 Telecommunications giant MTN and mobile operator Cell C have concluded an expanded roaming agreement that will extend Cell C’s coverage nationwide. The agreement builds on the 2018 initial roaming agreement that provided second-generation, third-generation (3G) and fourth-generation (4G) roaming... 

South African hedge funds bet on rules to stem outflows

By: Bloomberg     18th November 2019 South Africa’s hedge fund industry is betting on new rules to help reverse a record drop in assets under management. New guidelines from January will split funds into different investment categories and geographical exposure so local investors can make better comparisons. They will also allow... 

Eskom’s first outsourced transmission substation nears completion

By: Marleny Arnoldi     18th November 2019 Kangas Wind Farm on Monday reported that construction of the Groeipunt transmission substation was 80% complete and on track to be handed over to State-owned power utility Eskom in March 2020. The construction of the substation started in June and marked the first time that an independent power... 

Eskom’s first outsourced transmission substation nears completion
Kangas Wind Farm's Groeipunt transmission substation

Three Sappi pulp production facilities complete environmental assessment

By: Simone Liedtke     18th November 2019 Paper and pulp producer Sappi’s three dissolving wood pulp (DWP) production facilities – Cloquet, Ngodwana and Saiccor – have completed the Higg Facility Environmental Module (Higg FEM) self-assessment via the Sustainable Apparel Coalition’s (SAC’s) online portal. The Higg FEM is a sustainability... 

Durban port increases tourism attractiveness with new terminal

By: Marleny Arnoldi     18th November 2019 The MSC Orchestra cruise liner has made its maiden voyage to South African shores. It started its journey in Genoa, Italy, and stopped at the Réunion island off the coast of France, before arriving at the Port of Durban on Saturday with 3 000 passengers.  

Durban port increases tourism attractiveness with new terminal
MSC Orchestra

Bidcorp continues positive performance in first months of financial year

By: Simone Liedtke     18th November 2019 International food, service and technology group Bidcorp CEO Bernard Benson on Monday said trading conditions in the four months to October 31 had continued to be positive and was broadly in line with the performances achieved in the 2019 financial year. During a webcast presentation on Monday,... 

EPP advocates for real estate investment policy in Poland

By: Marleny Arnoldi     18th November 2019 JSE-listed EPP has urged the Polish government to introduce real estate investment trust legislation for the country to make it more open for investment. COO Rafał Kwiatkowski believes the Polish property sector could be an excellent avenue for creating wealth and would be a good vehicle for... 

EPP advocates for real estate investment policy in Poland
EPP's flagship-centre Galeria Mlociny

Meeco Group completes rope-structured solar PV plant in Kenya

By: Marleny Arnoldi     18th November 2019 Swiss clean energy provider Meeco Group has completed the installation of its first photovoltaic (PV) solar project using an innovative solar power mounting structure called the sun2rope. This environment-friendly system comprises PV modules that are mounted on tailor-made rope structures,... 

China, EU markets to demand most battery metals up to 2028

By: Marleny Arnoldi     18th November 2019 Research agency Fitch Solutions Macro Research has created a new set of assumptions on electric vehicle (EV) sales to determine future EV battery metals demand in the US, China and Europe over the coming years. Using its existing EV forecasts, the research agency divided geographic demand for... 

Fuel for rockets, Zeppelins points toward green heat solution 

By: Bloomberg     18th November 2019 It’s the most nettlesome problem in the quest to ditch fossil fuels: how can you get thousand-degree heat used in factory furnaces without pumping billions of tons of greenhouse gases into the atmosphere? Heat-intensive processes like steelmaking and oil refineries are the starting point for... 

Fuel for rockets, Zeppelins points toward green heat solution
The Enel Fusina hydrogen plant near Venice, Italy.

Shanghai rebar extends rally as steel margins recover

By: Reuters     18th November 2019 Rebar futures in China rose for a fifth consecutive session on Monday amid improving steel margins in the world's top producer of the construction and manufacturing material. The Shanghai Futures Exchange's most-traded contract for the construction material, for delivery in January 2020, ended... 

Power supply tight, but low likelihood of load-shedding this week – Eskom

By: News24Wire      18th November 2019 There is a small chance that South Africans may be impacted by load-shedding this week, as struggling power utility Eskom continues to battle unplanned outages.  In an electricity status update on Monday morning, the power producer said unplanned outages at generation units were just below 9... 

 Power supply tight, but low likelihood of load-shedding this week – Eskom

Transport union slams PRASA over escalating railway infrastructure vandalism

By: News24Wire      18th November 2019 The decision by the Passenger Rail Agency of South Africa (PRASA) to terminate contracts of 20 private security companies at the end of October has left railway infrastructure vulnerable to vandalism, says the United National Transport Union (Untu). In a statement on Friday by Untu spokesperson... 

Two rhino and a zebra electrocuted after Eskom pylon collapses in nature reserve

By: News24Wire      18th November 2019 Several animals at the Tshwane Rietvlei Nature Reserve were electrocuted after an Eskom electricity pylon collapsed, Tshwane's mayoral committee member for environment and agriculture, Dana Wannenburg said on Saturday. The animals are a female rhino, her calf and a zebra. 

City of Tshwane cautions of possible suspension to A Re Yeng bus operations ahead of looming strike action

By: News24Wire      18th November 2019 The City of Tshwane has urged residents to exercise patience as A Re Yeng Bus operations are set to be suspended ahead of a looming strike on Monday. MMC for Roads and Transport, Sheila Senkubuge, in a statement on Sunday, said the city had issued an alert of the possible suspension to bus... 

SA's Gina to lead trade and investment mission to Mozambique

By: African News Agency      18th November 2019 South Africa's deputy minister of trade, industry and competition Nomalungelo Gina will lead a group of business people on a mission to Mozambique later this month with the aim of increasing bilateral relations between the two countries, her department said on Monday. The department is organising... 

SA's Gina to lead trade and investment mission to Mozambique
Deputy Minister of Trade & Industry Nomalungelo Gina

SAA faces regulator inquiry over sale plan

By: Bloomberg     18th November 2019 South African Airways officials will be summoned to a meeting with regulators next month to disclose details about talks with potential equity partners and give assurances that any deal won’t violate foreign-ownership laws. Under the Air Services Licensing Act of 1990, airlines must be at least... 

SAA faces regulator inquiry over sale plan

R&D efforts in South Africa must be accelerated

By: Tasneem Bulbulia     15th November 2019 Research and development (R&D) spend in South Africa is not at the level it should be, which is hindering the country’s development, as R&D is a fundamental factor in driving economies in the long term, Cova Advisory and Associates joint MD Duane Newman said at the company’s R&D breakfast, in... 

SAA losing R52m a day as unions and airline remain deadlocked 

By: News24Wire      15th November 2019 Unions and flag carrier South African Airways are still deadlocked as a national strike continues. "The unions are still sticking to their guns and we continue to urge unions to approach the situation with open minds," said SAA spokesperson Tlali Tlali. He said that SAA cannot present anything... 

 SAA losing R52m a day as unions and airline remain deadlocked

Petrol price set to rise in December, but diesel may drop – AA

By: News24Wire      15th November 2019 Given the current level of the rand and the global price of oil, the petrol price will rise in the first week of December while diesel and paraffin will decline, according to the Automobile Association. The association said in a statement on Friday that it predicts an increase of 11 cents a litre... 

 Petrol price set to rise in December, but diesel may drop – AA

New shape for Denel beginning to be unveiled 

By: Rebecca Campbell     15th November 2019 Denel CFO Carmen Le Grange on Friday indicated the businesses that the State-owned defence group was exiting or was planning to exit, as part of its turnaround strategy. She was addressing the 2019 Aerospace, Maritime and Defence Conference in Pretoria. The turnaround plan had ten elements, she... 

South African government seeks growth in the local defence industry 

By: Rebecca Campbell     15th November 2019 The South African Government has set growth targets it hopes that the local defence industry will achieve over the next few years. This was reported by Secretary of Defence and Military Veterans Dr Sam Gulube on Friday. He was delivering the keynote address at the 2019 Aerospace, Maritime and... 

South African government seeks growth in the local defence industry
Photo by Creamer Media
Secretary of Defence and Military Veterans Dr Sam Gulube

LTM Energy to bring off-grid sanitation solution to South Africa

By: Natasha Odendaal     15th November 2019 Renewable and energy management solutions group LTM Energy is preparing to enter the sanitation industry through the launch of an off-grid, customised sanitation solution for the South African – and the broader African – market. The green economy-focused business aims to pilot the solution after... 

Russia is making more money from Opec+ deal than Saudi Arabia

By: Bloomberg     15th November 2019 Russia has earned more money this year from the Opec+ deal than Saudi Arabia, underscoring how the kingdom has carried a greater share of the burden of production cuts. Saudi Arabia on average has cut production almost ten times deeper than Russia since the countries joined forces at the end of... 

Telkom confirms takeover talks with Cell C

By: Creamer Media Reporter      15th November 2019 Telecommunications group Telkom on Friday confirmed that it was in discussions to buy out embattled Cell C. Telkom on Monday announced that it was in negotiations regarding a possible transaction, sparking speculation that it was in negotiations with Cell C. 

Tribunal to review alleged cartel conduct by wood-based panel manufacturers

By: Marleny Arnoldi     15th November 2019 The Competition Tribunal has been tasked to review a cartel conduct matter between wood-based panel companies KAP Diversified Industrial and Sonae Arauco South Africa, together with Steinhoff International Holdings. KAP Diversified, previously PG Bison, and Sonae allegedly agreed to increase... 

SAA plays hardball as strike starts

By: News24Wire      15th November 2019 South African Airways (SAA) has not increased its wage hike offer to striking unions at the airline, spokesperson Tlali Tlali told Fin24 on Friday morning. The airline, which is technically insolvent, is sticking to its 5.9% offer. The National Union of Metalworkers of South Africa and the South... 

 SAA plays hardball as strike starts

Brics Summit Declaration addresses fair trade concerns

By: Marleny Arnoldi     15th November 2019 With high levels of under-invoicing being a critical challenge in efforts to deepen fair trade, Trade and Industry Minister Ebrahim Patel has welcomed the Brics Summit Declaration by Heads of State (SDHS). The Brazil, Russia, India, China and South Africa (Brics SDHS) was adopted during the... 

Brics Summit Declaration addresses fair trade concerns
Trade and Industry Minister Ebrahim Patel

SAA flights largely grounded as wage strike begins

By: News24Wire      15th November 2019 Workers at national carrier South African Airways (SAA) began a two-day strike likely to cost the financially-strapped airline millions of rand as it was forced to cancel almost all its domestic, regional and international flights scheduled for Friday and Saturday. Workers affiliated to the South... 

 SAA flights largely grounded as wage strike begins

Ramaphosa commends important strides of New Development Bank at Brics summit

By: African News Agency      15th November 2019 President Cyril Ramaphosa on Thursday commended the progress of the the New Development Bank (NDB) during a dialogue among Brics Heads of State and Government, the Brics Business Council and the New Development Bank in Brasilia, Brazil.  "It has been five years since we signed the Articles of the... 

South Africa ready to make tough SAA decisions, Gordhan says 

By: Bloomberg     15th November 2019 The South African government signaled it’s going to take a hardline approach to its cash-strapped national airline as labor unions prepared to strike over pay and job cuts, forcing the carrier to cancel almost all its flights over the next two days. “If some tough decisions need to be made, we’ll... 

South Africa ready to make tough SAA decisions, Gordhan says
Photo by Bloomberg
Public Enterprises Minister Pravin Gordhan

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