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AfDB expresses strong support for new Eskom leadership

By: Terence Creamer     Updated 1 hour 4 minutes ago The African Development Bank (AfDB), which has extended loan facilities worth a collective R20-billion to South Africa’s power utility Eskom, expressed confidence on Tuesday that the new leadership at the cash-strapped State-owned company would restore the group’s governance and creditworthiness.... 

AfDB expresses strong support for new Eskom leadership
Photo by Duane Daws
AfDB VP for power, energy, green growth and climate change Amadou Hott

Ramaphosa calls for new social compact

By: African News Agency      Updated 57 minutes ago President Cyril Ramaphosa on Tuesday called for national unity and a new social compact to revive the economy and ease the plight of South Africa's poor majority. "One thing that we will unite on is advancing the interests of our people," Ramaphosa said in his reply to the debate on his maiden... 

Ramaphosa calls for new social compact
Photo by Reuters
President Cyril Ramaphosa

Gordhan, Jonas said to be part of Ramaphosa's new Cabinet plan

By: News24Wire      Updated 1 hour 8 minutes ago Former ministers banished to the political wilderness under Jacob Zuma’s presidency are set to make a comeback as President Cyril Ramaphosa prepares to revive the stagnant economy. The African National Congress’s (ANC's) top-six officials, including President Cyril Ramaphosa, will meet on Friday... 

 Gordhan, Jonas said to be part of Ramaphosa's new Cabinet plan
Photo by Reuters
Mcebisi Jonas & Pravin Gordhan

Fireblade executive terminal at OR Tambo airport is now handling international flights

By: Rebecca Campbell     Updated 23 minutes ago The Fireblade Aviation Fixed-Base Operations (FBO) terminal at Johannesburg’s OR Tambo International Airport handled its first international flight last week, the company reported on Tuesday. A FBO is a private air terminal, to cater for VIP and VVIP passengers, flying into, out of and within a... 

Volvo Trucks grows 6% in 2017, aims for another 5% in 2018

By: Irma Venter     Updated 49 minutes ago Volvo Trucks Southern Africa has increased Volvo truck sales by 6% in 2017, from 1 957 units in 2016, to 2 074 units in 2017. Volvo trucks secured a third sport in the South Africa heavy-duty commercial vehicle segment in 2017, the only segment in which it competes. 

Volvo Trucks grows 6% in 2017, aims for another 5% in 2018
The Volvo Trucks plant in Durban

Seifsa worried about potential impact of proposed US steel import tariff increases

By: Megan van Wyngaardt     Updated 5 hours ago The Steel and Engineering Industries Federation of Southern Africa (Seifsa) has warned that the difficulties facing the local steel industry would continue to worsen in the year ahead if the US Department of Commerce's recommendation for a tariff of at least 53% on all steel imports from 12... 

Ramaphosa should shift to green energy – Greenpeace

By: News24Wire      Updated 5 hours ago Environmental organisation Greenpeace is demanding newly-elected President Cyril Ramaphosa takes urgent action on energy policy in South Africa. Ramaphosa delivered his maiden State of the Nation Address (SoNA) on Friday, when he highlighted economic growth and combating corruption. 

Atterbury starts construction at R800m Midrand industrial park

By: Megan van Wyngaardt     Updated 5 hours ago South African property developer Atterbury has started construction on Old Mint Park, a prime industrial development neighbouring the landmark South African Mint and fronting the N1 highway, centrally located between Midrand and Centurion. The R800-million project entails the development of a new... 

Atterbury starts construction at R800m Midrand industrial park

SNC-Lavalin secures 4yr maintenance contract with Shell South Africa

By: Schalk Burger     Updated 1 hour 50 minutes ago SNC-Lavalin has been awarded a four-year maintenance service and support contract for ten fuel storage facilities for oil multinational Shell Downstream South Africa. The scope of work includes mechanical, electrical, instrumentation and piping maintenance related services for ten Shell terminal... 

Zille blames department of water for stalled Clanwilliam Dam project

By: News24Wire      Updated 6 hours ago A project which aims to double the capacity of the Clanwilliam Dam in the Western Cape will not be able to proceed because of a lack of funding. This is according to Western Cape Premier Helen Zille, who on Monday said the project, for which R2bn had been budgeted as far back as 2013/2014, would... 

Emerging Africa Infrastructure Fund commits $200m in loans to fragile States

By: African News Agency      Updated 6 hours ago The Emerging Africa Infrastructure Fund (EAIF), suppliers of debt finance to private sector infrastructure projects in sub-Saharan Africa, said on Tuesday that it had ended 2017 on a high note with $200-million in loan commitments to fragile states. EAIF, a company of the Private Infrastructure... 

New Toyota magnet cuts dependence on key rare earth metal for EV motors

By: Reuters     Updated 3 hours ago Toyota Motor Corp has found a way to reduce the amount of a key rare earth metal used in magnets for electric car motors by around 20%, which could tame the cost of producing electric cars and reduce the risk of a supply shortage of materials needed for their production. The Japanese automaker... 

EU warns it will retaliate if hit by US trade curbs

By: Reuters     Updated 1 hour 42 minutes ago The European Commission said on Tuesday it had expressed its concern to Washington about possible measures to curb imports of steel and aluminium and warned that it was ready to react if its industry was hit. "We have made it clear to the US administration at the highest level that we would be... 

Congo seeks relief talks with oil traders over $2bn debt

By: Reuters     Updated 1 hour 25 minutes ago Congo Republic is set to become the latest African country to start debt relief talks with trading houses after borrowing $2-billion from merchants such as Trafigura and Glencore but now finding its debt levels unsustainable, sources familiar with the matter said. Trading houses regularly lend... 

There is relevance for nuclear power in South Africa, says Group Five exec

By: Anine Kilian     Updated 5 minutes ago South Africa needs to be prepared for the nuclear build programme, which has been in the pipeline for a decade now, says Group Five nuclear construction services director Des Muller. Speaking at the Africa Energy Indaba, in Johannesburg, on Tuesday, Muller, who is on the Nuclear Industry... 

Tough trading environment put Transpaco under pressure in H1

By: Megan van Wyngaardt     Updated 12 minutes ago JSE-listed plastics and packaging group Transpaco reported a 4.7% fall in operating profit to R78.5-million in the six months to December 31. While in line with expectations, the company said its performance remained under pressure from a continued challenging economic environment, leading to a... 

Cape Town’s Day Zero delayed until July

By: Natasha Odendaal     Updated 14 minutes ago Day Zero has again been pushed back by another month as daily water use in the drought-stricken province drops by three-million litres, with the average consumption averaging 523-million litres a day. While still short of the 450-million-litre a day target, Democratic Alliance leader Mmusi... 

Imperial Holdings delves into unbundling plans, reports solid H1 results

By: Megan van Wyngaardt     Updated 20 minutes ago Imperial Holdings' plans for unbundling its Imperial Logistics and Motus entities, and listing them separately, are still in the works but are dependent on a number of internal and external factors, CEO Mark Lamberti said on Tuesday. The company last year said work was in progress to determine... 

Imperial Holdings delves into unbundling plans, reports solid H1 results
Photo by Duane Daws
CEO Mark Lamberti

Icasa to hold public hearings on end-user and subscriber service charter regulations

By: Natasha Odendaal     Updated 23 minutes ago The Independent Communications Authority of South Africa (Icasa) has announced that March 1 and 2 have been earmarked for public hearings into the second draft of the End-User and Subscriber Service Charter Regulations. Following the receipt of 13 written submissions, the communications authority... 

Cell C FY17 rallies on Blue Label recapitalisation

By: Natasha Odendaal     Updated 41 minutes ago South Africa’s third-largest mobile operator Cell C on Tuesday posted strong financial results for the year ended December 31, bolstered by the R5.5-billion recapitalisation programme led by JSE-listed Blue Label last year. The recapitalisation, which resulted in Blue Label earning a 45% stake in... 

Cell C FY17 rallies on Blue Label recapitalisation
Photo by Duane Daws
Cell C CEO Jose dos Santos

Investors watching closely as Ramaphosa considers Cabinet line-up

By: Reuters     Updated 6 hours ago President Cyril Ramaphosa said on Tuesday his early morning walks gave him time to think about his cabinet amid growing speculation about its composition and the future of the finance minister. In his state of nation address on Friday, Ramaphosa strongly hinted at a cabinet shake-up when he said... 

Investors watching closely as Ramaphosa considers Cabinet line-up
President Cyril Ramaphosa

City of Cape Town welcomes 'major court victory for preservation of water sources'

By: News24Wire      Updated 6 hours ago A ruling by the Western Cape High Court has been described as "a watershed ruling" for the preservation of Cape Town's rivers, floodplains, and wetlands. The judgment refers to a case in which the City approached the courts to order Really Useful Investments, a developer of the Hout Bay Beach... 

Fiscal consolidation the buzzword for Gigaba's maiden Budget 2018?

By: African News Agency      Updated 6 hours ago South African economists have set their sights on fiscal consolidation and avoiding a credit ratings downgrade as Finance Minister Malusi Gigaba scrambles to close the R50-billion deficit when he delivers his maiden Budget Speech on Wednesday. In his 2017 Medium Term Budget Policy Statement... 

Fiscal consolidation the buzzword for Gigaba's maiden Budget 2018?
Photo by Bloomberg
Finance Minister Malusi Gigaba

Public-private partnerships key for gas infrastructure development in SADC region

By: Anine Kilian     19th February 2018 Public-private partnerships are key to developing gas supply projects in the Southern African Development Community (SADC), Nepad Business Foundation (NBF) Africa infrastructure programme manager Peter Varndell said on Monday. Speaking at the Africa Gas Forum, in Johannesburg, he said there was... 

Eskom board called on to prove utility not trading recklessly

By: Terence Creamer     19th February 2018 The Institute for Accountability in Southern Africa has written to Eskom chairperson Jabu Mabuza requesting a detailed written explanation as to why the current board believes the State-owned utility can be rescued from its current financial distress, cautioning that Eskom may currently be... 

Eskom board called on to prove utility not trading recklessly
Accountability Now director advocate Paul Hoffman

Africa not making the most of its gas reserves

By: Anine Kilian     19th February 2018 Only 8% to 10% of Africa’s known gas reserves are being priortised, despite the fact that gas reserves on the continent are abundant, Catalyst Capital managing partner Adero Okudo said on Monday. Speaking at the Africa Gas Forum, in Johannesburg, she said there were only two crossborder pipelines... 

Mogalakwena gushes cash as Amplats modernises, studies growth, advances fuel cell 

By: Martin Creamer     19th February 2018 The Mogalakwena platinum mine lived up to its reputation of being the most profitable platinum group metals (PGM) mine on the planet when it gushed cash and elevated a modernising, community supporting, environment protecting, growth studying and fuel-cell marketing Anglo American Platinum... 

Anglo American Platinum CEO Chris Griffith delivers 2017 results covered by Mining Weekly Online’s Martin Creamer. Photographs: Duane Daws. Video and Video Editing: Nicholas Boyd.

Liberty Two Degrees posts maiden full-year results

By: Dylan Slater     19th February 2018 South Africa-focused real estate investment trust (Reit) Liberty Two Degrees (L2D) on Monday posted a distribution of 59.22c a unit in its maiden full-year results.  

Legacy issues, poor Q1 affect Rolfes' H1 earnings

By: Simone Liedtke     19th February 2018 Black-empowered chemical group Rolfes' financial results for the six months ended December 31 were negatively affected by legacy issues and a poor first quarter, resulting in headline earnings halving to R23.62-million, from R48.23-million in the six months to December 31, 2016. Revenue from... 

Koeberg participating in development of other desalination projects

By: Kim Cloete     19th February 2018 Apart from its recently announced temporary desalination plant, the Koeberg nuclear power station is working on a range of desalination projects, including a detailed feasibility study with the City of Cape Town on a large-scale desalination plant. If the feasibility study is successful, it will... 

Koeberg participating in development of other desalination projects
Photo by Duane Daws
Koeberg nuclear power station

Coega SEZ receives EIA approval for desalination, aquaculture zones

By: Schalk Burger     19th February 2018 The Coega Special Economic Zone (SEZ), in the Eastern Cape, has received environmental-impact assessment (EIA) approval for a 440 ha land-based aquaculture development zone (ADZ) and a desalination plant in Zone 10 of the Coega SEZ. “The approval of the EIA is a step towards fulfilling the Coega... 

SA Mint new coin releases include Mandela-focused Celebrating South Africa series

By: Schalk Burger     19th February 2018 South African Reserve Bank subsidiary, the South African Mint, has announced new collectables product ranges that will appear in the global coin market this year, including the ‘Celebrating South Africa’ series, which will commemorate the life of former President, distinguished Statesman and... 

Tribunal approves Barnes Southern Palace's acquisition of Scaw

By: Simone Liedtke     19th February 2018 The Competition Tribunal has conditionally approved the transaction, in terms of which holding company Barnes Southern Palace plans to acquire Scaw South Africa from the Industrial Development Corporation (IDC). To address information sharing concerns, the transaction was approved subject to a... 

Commission recommends tribunal approve Southern Palace Group's Genrec buy

By: Simone Liedtke     19th February 2018 The Competition Commission has recommended to the Competition Tribunal that Southern Palace Group's (SPG's) proposed acquisition of steel fabrication and manufacturing business Genrec Engineering, from construction and engineering company Murray and Roberts, be approved without conditions. SPG,... 

Cryptocurrencies speculative, but blockchain can bring positive disruption – S&P’s

By: Schalk Burger     19th February 2018 Global ratings agency Standard and Poor’s (S&P’s) currently views cryptocurrencies as speculative instruments that will have an “insignificant effect on global financial stability if its value were to collapse”, but that blockchain – a shared digital transaction ledger – presents an opportunity... 

SA, UK political uncertainty dampens trading conditions, says Super Group

By: Irma Venter     19th February 2018 Challenging trading conditions and political uncertainty continued to depress trading conditions at transport logistics and mobility company, Super Group. The group on Monday reported a 27.5% increase in revenue for the six months ended December 31, compared with the same period in 2016, to... 

Sprinter reboots for digital efficiency as global parcel, food deliveries soar

By: Irma Venter     19th February 2018 Global parcel deliveries reached roughly 44-billion units in 2014, growing by almost 48%, to 65-billion parcels, in 2016.  This trend is far from flattening out. Various studies expect yearly growth rates of between 6% and 8% a year through to 2025. 

Sprinter reboots for digital efficiency as global parcel, food deliveries soar

Africa needs to develop its gas infrastructure

By: Anine Kilian     19th February 2018 Africa has a significant and growing gas resource, but gas capability on the continent is disappointingly low, says Quantum Power founding partner Dr Louis van Pletsen. He told delegates attending the Africa Gas Forum, in Johannesburg, on Monday, that, although there were large hydro and... 

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