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Gordhan says he will ‘interfere’ if Eskom jobs are threatened

By: Terence Creamer     20th November 2019 Public Enterprises Minister Pravin Gordhan has refuted suggestions that government is interfering with the work of boards and executives at State-owned companies, such as Eskom, but has also indicated that he will not stand by should decisions be made that lead to significant job losses. In... 

Gordhan says he will ‘interfere’ if Eskom jobs are threatened
Public Enterprises Minister Pravin Gordhan

SIU investigates possible IP theft from defence firm Denel 

By: Reuters     20th November 2019 South Africa is investigating the alleged misappropriation of intellectual property rights belonging to State defence firm Denel, the Special Investigating Unit (SIU) confirmed on Wednesday. The IP relates to air-to-air missiles, stand-off weapons, surface target missiles, air defence and... 

SIU investigates possible IP theft from defence firm Denel

Companies mostly behave ethically, but internal issues persist 

By: Marleny Arnoldi     20th November 2019 The Gordon Institute of Business Science (Gibs) has shared details of the first phase of its ethics barometer initiative, finding that the overall “ethical fitness” of 15 participating companies was rated at 73, on a scale of zero to 100.  Fifteen organisations and 8 000 of their employees... 

Companies mostly behave ethically, but internal issues persist

National, provincial audit results paint a disappointing picture

By: Tasneem Bulbulia     20th November 2019 Auditor-General (AG) Kimi Makwetu on Wednesday lamented that accounting officers and authorities had been slow in implementing his recommendations. He also called on government leaders to take urgent action to halt the trend of disappointing audit results, restore accountability and prevent... 

Solar reducing electricity costs, lowering diesel use   

By: Martin Creamer     20th November 2019 Solar power is playing a major role in reducing daytime electricity bills and lowering diesel use in off-grid diesel consuming areas, says SunRanch.Solar, whose clients are benefiting from below grid power costs and major diesel savings. “We reduce people’s daytime power costs by 60% to 70%,”... 

SunRanch.Solar talks to Mining Weekly Online’s Martin Creamer. Video: Nicholas Boyd

Eskom needs R187bn to comply with new emissions laws

By: Reuters     20th November 2019 South Africa's power utility Eskom needs around R187-billion to comply fully with existing legislation curbing harmful emissions, a government presentation to parliament showed on Wednesday. Eskom, which uses mainly coal-fired power plants to generate electricity, was one of 37 top domestic... 

Unions up ante at South African Airways as finances approach crunch

By: Reuters     20th November 2019 Unions are escalating a crippling strike at South African Airways (SAA) after talks broke down, leaving the state-run carrier at risk of liquidation without a government guarantee to secure bank funding, a board member said. The strike at the cash-strapped airline is entering its sixth day,... 

SAA has to consult with representative unions of all its workers

By: Rebecca Campbell     20th November 2019 Three unions representing workers at South African Airways (SAA), and who have formed a coalition to jointly protect the interests of their members at the embattled State-owned airline, have warmly welcomed a ruling by the Commission for Conciliation, Mediation, and Arbitration (CCMA) in their... 

South Africa's inflation rate drops to almost nine-year low

By: Bloomberg     20th November 2019 South Africa’s annual inflation rate dropped more than forecast to the lowest in almost nine years in October, providing some room for the central bank to ease policy. Consumer-price growth slowed to 3.7% compared with 4.1% in September, Pretoria-based Statistics South Africa said Wednesday in a... 

PPC reports lower profitability, but still generates free cash flow

By: Marleny Arnoldi     20th November 2019 JSE-listed PPC on Wednesday reiterated the adverse effects of the devaluation of the Zimbabwean dollar (ZWL) and the rand on its financial performance for the six months ended September 30. The company had already highlighted this in a trading statement published earlier this month. 

Renergen approved for secondary listing on A2X

By: Simone Liedtke     20th November 2019 Emerging helium and domestic natural gas producer Renergen has been approved for a secondary listing on the A2X market, in South Africa. Renergen’s listing on the A2X will be effective November 27. 

Entrepreneurs remain upbeat despite sluggish economy – survey

By: Tasneem Bulbulia     20th November 2019 South African entrepreneurs are optimistic and resourceful even as the sector is enduring one of the most difficult economic periods, entrepreneurship developer Seed Academy’s ‘State of Entrepreneurship in South Africa’ report shows. The report, released on Tuesday, surveyed 1 000 entrepreneurs... 

Lesotho Highlands Water Project tunnel to be refilled

By: Natasha Odendaal     20th November 2019 After a two-month shutdown for inspections and maintenance work, the Lesotho Highlands Water Project (LHWP) tunnel is being replenished with water, the Department of Water and Sanitation (DWS) announced on Wednesday. In October, the Lesotho Highlands Development Authority, in conjunction with the... 

SA parliament committee concerned over lack of 'tangible' drought strategy

By: African News Agency      20th November 2019 Parliament's select committee on cooperative governance and traditional affairs, water and sanitation says it is concerned at the lack of a tangible drought strategy to deal effectively with the challenges South Africa is currently facing. Last week commercial farmers said a ravaging drought had... 

SA parliament committee concerned over lack of 'tangible' drought strategy

PIC, Impact Investing South Africa partner to advance African investment

By: Marleny Arnoldi     20th November 2019 State-owned asset management company, the Public Investment Corporation (PIC) and Impact Investing South Africa (IISA) have launched a report, titled the ‘Africa Impact Report 2019’, which aims to advocate a sound investment case for African economies to become catalysts for collaboration between... 

Angola considered an ‘excellent investment opportunity’

By: Simone Liedtke     20th November 2019 Angola faces considerable challenges as its economy evolves, but the focus must be on diversifying its economy, especially as it boasts “excellent investment opportunities in different sectors”, a panel of speakers agreed during a seminar hosted by law firm Webber Wentzel on Tuesday. Webber... 

Emerging markets have monetary firepower to drive world economy

By: Bloomberg     20th November 2019 Emerging-economy central banks from India to Brazil still enjoy the firepower to shore up the global economy as their peers from developed markets take to the sidelines. While policy makers at the Federal Reserve and European Central Bank are seemingly set to keep interest rates on hold, many of... 

Appropriate data protection fundamental in South African cybersecurity laws

By: Schalk Burger     20th November 2019 Reasonable and appropriate technical and organisational measures to protect personal information are fundamental to comply with South African information privacy laws, notwithstanding the impossibility of completely preventing cybersecurity breaches, law firm Herbert Smith Freehills cybersecurity... 

AfriSam showcases urban quarry amid focus on quality 

Updated 31 minutes ago Cement, ready-mix concrete and aggregates company AfriSam is focusing on providing high-level, responsive services and high-quality products to its clients as it weathers the sustained doldrums the construction industry remains in. Schalk Burger has the story. 

AfriSam showcases urban quarry amid focus on quality

Eskom’s new CEO 

20th November 2019 Creamer Media’s Chanel de Bruyn speaks to Engineering News Editor Terence Creamer about the challenges that lie ahead for Andre de Ruyter, who has been appointed Eskom’s new CEO, and what his top priorities will be.    

Eskom’s new CEO

Give new Eskom CEO a chance – Gordhan

By: African News Agency      20th November 2019 Public Enterprises Minister Pravin Gordhan on Wednesday defended the surprise appointment of Andre de Ruyter as Eskom's new CEO and urged stakeholders to give him a chance to do his job. "He was the choice of the board," Gordhan said when asked about suggestions that De Ruyter was a compromise... 

 Give new Eskom CEO a chance – Gordhan
Eskom's new CEO Andre de Ruyter

Gordhan says SAA may have no money for salaries this month 

By: News24Wire      20th November 2019 Minister of Public Enterprises Pravin Gordhan has warned that, while two unions at South African Airways are demanding salary increases for members, the airline might not even be able to pay any salaries at the end of the month. The minister said the strike was worsening the airline's financial... 

Gordhan says SAA may have no money for salaries this month
Photo by Reuters
Public Enterprises Minister Pravin Gordhan

Eskom debt relief plan expected by year-end, MPs hear 

By: News24Wire      20th November 2019 A report on how to deal with Eskom's group debt burden of around R440-billion is expected by year-end, the department of public enterprises told members of Parliament on Wednesday during a briefing.  The department's Deputy Director General, Makgola Makololo, was briefing the oversight committee... 

 Eskom debt relief plan expected by year-end, MPs hear

South Africa won’t give SAA any funding to resolve wage strike

By: Bloomberg     20th November 2019 South Africa’s government ruled out an intervention in the ongoing battle between the struggling state airline and unions leading a strike, with Public Enterprises Minister Pravin Gordhan refusing to step in to fund wage demands. The state has already given South African Airways more than... 

Homes, land destroyed as desperate Zimbabweans turn to illegal gold mining

By: Reuters     20th November 2019 Under the blazing sun, a group of men use picks and shovels to dig up a bushy patch of land outside Zimbabwe's second-largest city, stopping every few seconds to scan the soil for signs of gold. The 13 men, led by one carrying a metal detector, left open gullies all over the area in Filabusi,... 

Gold Fields marks milestones as its Agnew renewables plant starts operating  

By: Marleny Arnoldi     20th November 2019 The 23 MW renewable energy power station built at JSE-listed Gold Fields’ Agnew mine, in Australia, has started operating. Global distributed energy producer EDL installed the power station that integrates 4 MW photovoltaic solar power with 19 MW of gas and diesel generation to power the gold... 

Gold Fields marks milestones as its Agnew renewables plant starts operating
Gold Fields' hybrid renewable energy project at Agnew mine, in Australia

Tongaat Hulett progresses financial aid talks; to sell Namibia business

By: Marleny Arnoldi     19th November 2019 Embattled sugar producer Tongaat Hulett has finalised a detailed term sheet with new lenders, whereby they have agreed, in principle, to make new senior term loan facilities, revolving credit facilities and overdraft facilities available to the company. The new loan facilities will be used to... 

SAA insists it cannot meet 8% wage increase demand 

By: African News Agency      19th November 2019 South African Airways (SAA) has reiterated that it does not have the financial capacity to meet workers' eight-percent salary increase demand, saying it can only be in a position to pay 5.9 percent from March 2020, assuming funds were available at that time. On Tuesday, the State-owned airline... 

SAA insists it cannot meet 8% wage increase demand
Photo by Reuters
SAA acting CEO Zuks Ramasia

Iron-ore futures reverse losses as steel prices extend gains

By: Reuters     19th November 2019 Chinese iron ore futures recouped early losses to extend their rally into a sixth straight session on Tuesday as steel prices stretched gains amid shrinking inventories and possible fresh output restrictions to curb air pollution. Dalian Commodity Exchange's most-traded iron ore contract , with... 

Fraud mitigation becomes increasingly vital in digital world – consultancies

By: Marleny Arnoldi     19th November 2019 The scourge of corruption in the last decade has badly damaged the South African economy and the country loses about 5% of its revenue a year as a result of fraud in the public and private sectors, law firm Cliffe Dekker Hofmeyr corporate investigations director Zaakir Mohamed said on Tuesday.... 

Half of global corporates still planning acquisitions – report

By: Tasneem Bulbulia     19th November 2019 Business leaders are continuing to reshape their company portfolios despite a challenging geopolitical environment, with 52% of global corporates planning to pursue acquisitions in the next year, the latest Global Capital Confidence Barometer (CCB), published by advisory firm EY, shows. The... 

Rare gas find solves puzzle of Southern Africa’s soaring landscape

19th November 2019 The discovery of gases released from deep beneath the Earth’s crust could help to explain Southern Africa’s unusual landscape, a study published in the journal Nature Communications suggests. Scientists have long puzzled over why areas such as South Africa’s Highveld region are so elevated and... 

SAA says it is ramping up operations as strike continues 

By: News24Wire      19th November 2019 A strike at cash-strapped airline South African Airways is set to continue, with unions and the airline's leadership still unable to find common ground.  The flag carrier's leadership is currently briefing the media on negotiations with workers at Airways Park in Gauteng. The media briefing is... 

 SAA says it is ramping up operations as strike continues
Photo by Reuters
SAA acting CEO Zuks Ramasia

Bondholders aren’t convinced Eskom’s new CEO is best pick

By: Bloomberg     19th November 2019 Bond investors aren’t showing much faith in Eskom Holdings’ new boss. Yields on the state electricity company’s 2021 dollar bonds jumped the most in more than three months after the appointment of Andre de Ruyter as CEO on Monday. The premium of two-year over ten-year dollar yields narrowed,... 

Southern Africa drought to persist through March, FEWS NET says

By: Bloomberg     19th November 2019 Southern Africa faces further drought through March as land preparation and planting of summer crops gets underway, even after most parts of the region received near-normal rainfall through early November, according to the Famine Early Warning Systems Network (FEWS NET). “Seasonal forecasts... 

Basil Read subsidiary to lease properties to Bobcat Equipment

By: Creamer Media Reporter      19th November 2019 Basil Read Properties, in which embattled construction company Basil Read holds a 50% interest, has entered into an agreement to lease, and possibly sell, two properties to Bobcat Equipment Company South Africa. Basil Read Properties is a subsidiary of Thunderstruck Investments, a joint venture... 

Unions meeting with Gordhan as SAA strike enters fifth day

By: News24Wire      19th November 2019 Striking unions at South African Airways are meeting with Minister of Public Enterprises Pravin Gordhan in Pretoria, as a strike by the National Union of Metalworkers of South Africa and the South African Cabin Crew Association enters its fifth day.  Workers are demanding an 8% wage increase, no... 

 Unions meeting with Gordhan as SAA strike enters fifth day
Photo by Bloomberg
Public Enterprises Minister Pravin Gordhan

Sasol, Enaex conclude negotiations to establish explosives JV

By: Tasneem Bulbulia     19th November 2019 Integrated energy and chemicals company Sasol and Enaex, a subsidiary of the Sigdo Koppers Group, have concluded negotiations to establish a joint venture. The companies will file an application with the South African Competition Commission to seek approval for the merger. 

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